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Bayer to acquire Monsanto in all cash transaction

Bayer to acquire Monsanto in all cash transaction

Sep 14,2016

Monsanto India announced that Bayer and Monsanto signed definitive agreement under which Bayer will acquire Monsanto for USD 128 per share in an all cash transaction.

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Indian handset market crosses 350 million shipments in 2017: ASSOCHAM-KPMG study
Aug 09,2017

Indian handset market recorded over 350 million shipments in the year 2017 as compared to 280 million in 2016, a surge in revenue from INR 111,000 crores in 2015 to INR 135,000 crore in 2016, according to an ASSOCHAM-KPMG joint study.

Smart phones have also gained immense popularity in India in the last four years and constituted 43 per cent of the total handset shipments in 2016. Robust growths of the handset market coupled with enhanced connectivity of telecom services have been pivotal in growth of various industries such as retail, manufacturing, IT, e-commerce, etc, noted the ASSOCHAM-KPMG study titled Accelerating growth and ease of doing businesses.

Indian handset exports flourished from 2008 to 2012 going up to INR 12,000 crores but were interrupted by a decline of almost 30 per cent in two subsequent years. Accompanied by a parallel fall in handset manufacturing, downfall of handset manufacturing industry became a major area of concern for the government, noted the study.

In order to revive the industry, it is imperative to boost handset manufacturing in India. The FTTF, set up in 2014 has a target of increasing count of handsets manufactured in India to 500 million and handset exports to 120 million by 2020. Further, Make in India, Skill India, and other initiatives taken by the government played a pivotal role to achieve an 85 per cent growth in handset manufacturing recorded in the year 2015-16 (INR54,000 crores) over the previous year, which in 2016-17 grew to INR 90,000 crores.

Currently, the only export incentive available to handset manufacturers is a two per cent incentive under the Merchandise Exports from India Scheme (MEIS) introduced in the Foreign Trade Policy 2015-20. The industry is of the view that the government may increase the MEIS incentive and introduce new incentives such as freight equalization subsidy and to enhance duty draw back to 3 per cent to attract more players in the market and to encourage the existing players to ramp up manufacturing which would also create more jobs in India.

Secondly, zero import duty is applicable on few capital goods such as SMT lines etc. used for manufacture of handsets. However, various other capital goods used for manufacture of handsets and components are still not covered under zero import duty regime. Therefore, full import duty is currently levied on various capital goods used in manufacture of handsets and components. Though, under the new GST framework, manufacturers will be able to avail input credit for the equipment imported, imported equipment still add significantly to the overall cost of manufacturing in India.

Also, import of second hand capital goods has been restricted by the Ministry of Environment, Forest and Climate Change and clearances for imports takes a long period of time to complete. Therefore, the possibility of a cost effective alternative to import the new capital goods is virtually eliminated.

Countries such as Vietnam and China, offer significant incentives by way of direct tax holidays which provide a very cost effective platform for handset manufacturers to set up production facilities. Vietnam provides tax exemptions to players for the first four years of revenue generation and levies only 10 per cent for the next 11 years, which may be extended to 26 years on approval of the Vietnamese Prime Minister. These initiatives by governments of other countries make those countries favourable for market players to undertake manufacturing, raising their global competitiveness, highlighted the study.

With the primary objective of making the handset manufacturing market favourable for existing players and attracting new players, the government may consider introducing reforms with regard to tax exemptions, favourable rates and incentives, etc.

A wider penetration of feature phones and smart phones would facilitate seamless application of upcoming technologies such as 5G, M2M, Internet of Things (IoT), etc. and also enable the government in achieving targets that it set under the flagship Digital India initiative, adds the study.

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RSWM slumps after reverse turnaround in Q1
Aug 09,2017

The result was announced after market hours yesterday, 8 August 2017.

Meanwhile, the S&P BSE Sensex was down 112.58 points, or 0.35% at 31,901.61. The S&P BSE Small-Cap index was down 63.66 points, 0.4% at 15,840.38.

High volumes were witnessed on the counter. On the BSE, 10,000 shares were traded on the counter so far as against the average daily volumes of 5,314 shares in the past one quarter. The stock had hit a high of Rs 367 and a low of Rs 340 so far during the day. The stock had hit a record high of Rs 510 on 6 February 2017 and a 52-week low of Rs 381.60 on 26 July 2017.

The stock had underperformed the market over the past one month till 8 Aug 2017, declining 5.77% compared with the Sensexs 2.08% rise. The scrip had also underperformed the market over the past one quarter declining 11.28% as against the Sensexs 6.98% rise. The scrip had also underperformed the market over the past one year declining 17.9% as against the Sensexs 13.6% rise.

The small-cap company has equity capital of Rs 23.55 crore. Face value per share is Rs 10.

RSWMs net sales fell 2.5% to Rs 705.60 crore in Q1 June 2017 over Q1 June 2016.

RSWM is engaged in the manufacturing, spinning, weaving and processing of manmade textile fabrics.

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Meera Industries commences operations of yarn division
Aug 09,2017

Meera Industries announced that the Company has commenced the activities of the yarn division. The Company also received an export order from South Africa and this order is expected to be fulfilled in the current quarter.

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Nucleus Software gains after disclosing buyback date
Aug 09,2017

The announcement was made after market hours yesterday, 9 August 2017.

Meanwhile, the S&P BSE Sensex was down 114.84 points, or 0.36% to 31,899.35.

On the BSE, 1,841 shares were traded in the counter so far, compared with average daily volumes of 6,833 shares in the past one quarter. The stock had hit a high of Rs 289.30 and a low of Rs 283 so far during the day. The stock hit a 52-week high of Rs 343.90 on 22 May 2017. The stock hit a 52-week low of Rs 171 on 29 September 2016.

The stock had underperformed the market over the past one month till 8 August 2017, falling 9.08% compared with 0.94% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 15.28% as against Sensexs 5.84% rise. The scrip had outperformed the market in past one year, rising 45.69% as against Sensexs 13.99% rise.

The small-cap company has equity capital of Rs 32.38 crore. Face value per share is Rs 10.

Nucleus Software Exports said its share buyback will open on 16 August 2017 and close on 31 August 2017.

The board of directors of the company at a meeting held on 25 April 2017, approved buyback of upto 33.43 lakh equity shares representing upto 10.32% of the total paid-up equity share capital of the company. The buyback price is Rs 350 per share for an aggregate amount not exceeding Rs 117 crore which is 24.83% of the paid-up equity share capital and free reserves of the company for the financial year ended 31 March 2017.

On a consolidated basis, Nucleus Software Exports net profit fell 43.57% to Rs 11.51 crore on 0.67% increase in net sales to Rs 94.32 crore in Q1 June 2017 over Q4 March 2017.

Nucleus Software Exports is the leading provider of lending and transaction banking products to the global financial services industry.

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Tata Chemicals drops after poor Q1 numbers
Aug 09,2017

The result was announced after market hours yesterday, 8 August 2017.

Meanwhile, the S&P BSE Sensex was down 112.68 points or 0.35% at 31,901.51.

On the BSE, 46,000 shares were traded on the counter so far as against the average daily volumes of 48,236 shares in the past one quarter. The stock had hit a high of Rs 585 and a low of Rs 563.65 so far during the day. The stock had hit a record high of Rs 665.10 on 4 May 2017 and a 52-week low of Rs 445.50 on 21 November 2016.

The stock had underperformed the market over the past one month till 8 August 2017, sliding 7.9% compared with the Sensexs 2.08% rise. The stock had also underperformed the market over the past one quarter, declining 5.64% as against the Sensexs 6.98% rise. The scrip had, however, outperformed the market over the past one year, advancing 27.36% as against the Sensexs 13.6% rise.

The large-cap company has equity capital of Rs 254.76 crore. Face value per share is Rs 10.

R. Mukundan, Managing Director & CEO of Tata Chemicals said that Q1 June 2017 has seen a good performance from the Global Chemicals Business. The companys sustained focus on improving operational performance and cost efficiencies has ensured margin gains inspite of a fire incident at Lostock.

In the Farm Business, Rallis India and Metahelix continue to focus on achieving higher sales and margins. There was a temporary suspension of operations at Haldia in Q1 due to the planned relocation of the ammonia pipeline and a notice from CPCB. However plant operations have resumed and the companys focus will be on stablising the plant operations there, Mukundan said. The Consumer Products Business continues to grow and Tata Salt maintains its market leader position, he added.

Going forward, Tata Chemicals will continue its focus on delivering operational excellence across its business with emphasis on customer and accountability and performance. Its strategy to continue to grow Consumer Business and Speciality Business is on track including investments in Nutraceuticals and Silica projects, Mukundan said.

Tata Chemicals is a global company with interests in businesses that focus on LIFE-living, industrial and farm essentials.

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Ujaas Energy to convene board meeting
Aug 09,2017

Ujaas Energy will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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Tijaria Polypipes to conduct board meeting
Aug 09,2017

Tijaria Polypipes will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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Sreeleathers to conduct board meeting
Aug 09,2017

Sreeleathers will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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Tridev InfraEstates announces board meeting date
Aug 09,2017

Tridev InfraEstates will hold a meeting of the Board of Directors of the Company on 12 August 2017.

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Ganga Papers India to conduct board meeting
Aug 09,2017

Ganga Papers India will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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Bil Energy System to convene board meeting
Aug 09,2017

Bil Energy System will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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Future Consumer to declare Quarterly Result
Aug 09,2017

Future Consumer will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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Tarapur Transformers announces board meeting date
Aug 09,2017

Tarapur Transformers will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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Richa Industries to conduct board meeting
Aug 09,2017

Richa Industries will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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Adhunik Industries to declare Quarterly Result
Aug 09,2017

Adhunik Industries will hold a meeting of the Board of Directors of the Company on 11 August 2017.

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