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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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Cabinet approves Road Connectivity Project for Left Wing Extremism Affected Areas
Dec 28,2016

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has approved a Centrally Sponsored Scheme namely Road Connectivity Project for Left Wing Extremism (LWE) Affected Areas to improve the rural road connectivity in the worst LWE affected districts from security angle.

The project will be implemented as a vertical under Pradhan Mantri Gram Sadak Yojana (PMGSY) to provide connectivity with necessary culverts and cross-drainage structures in 44 worst affected LWE districts and adjoining districts, critical from security and communication point of view. The roads will be operable throughout the year irrespective of all weather conditions.

Under the project, construction/upgradation of 5,411.81 km road and 126 bridges/Cross Drainage works will be taken up at an estimated cost of Rs.11,724.53 crore in the above district. The fund sharing pattern of LWE road project will be same as that of PMGSY i.e. in the ratio of 60:40 between the Centre and States for all States except for eight North Eastern and three Himalayan States (Jammu & Kashmir, Himachal Pradesh & Uttarakhand) for which it is 90:10. Ministry of Finance will have to allocate to Ministry of Rural Development Rs.7,034.72 crore for this project during the period of implementation 2016-17 to 2019-20.

Ministry of Rural Development will be the sponsoring Ministry as well as the implementing Ministry of this project. The likely duration of implementation of the project is four years from 2016-17 to 2019-20.

The Road Connectivity Project for LWE Affected Areas is envisaged in LWE States including the 35 worst affected LWE districts which account for 90% of total LWE violence in the country and 9 adjoining districts critical from security angle as per the inputs and lists of roads / districts provided by the Ministry of Home Affairs. The roads taken up under the scheme would include Other District Roads (ODRs), Village Roads (VRs) and upgradation of the existing Major District Roads (MDRs) that are critical from the security point of view. Bridges up to a span of 100 meters, critical from security angle would also be funded on these roads.

The PMGSY guideline does not permit construction/upgradation of MDRs. However, keeping special circumstances of LWE areas in view, MDRs would be taken up under the scheme as a special dispensation. The National Highways and the State Highways would be excluded from this project. The roads to be constructed under the scheme have been identified by the Ministry of Home Affairs in close consultation with the State Governments and the security agencies, by following a process of extensive consultation.

Background:

Pradhan Mantri Gram Sadak Yojana (PMGSY) was launched on 25th December, 2000 as a Centrally Sponsored Scheme with the objective to provide all-weather road connectivity to all eligible unconnected habitations in rural areas of the country. The programme envisages connecting all eligible unconnected habitations with a population of 500 persons and above (as per 2001 Census) in plain areas and 250 persons and above (as per 2001 Census) in Special Category States namely Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh, Jammu & Kashmir and Uttarakhand, Tribal (Schedule-V) areas, the Desert Areas (as identified in Desert Development Programme) and in Select Tribal and Backward Districts (as identified by the Ministry of Home Affairs/Planning Commission). For most intensive Integrated Action Plan (IAP) blocks as identified by Ministry of Home Affairs the unconnected habitations with population of100 and above (as per 2001 Census) are eligible to be covered under PMGSY.

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Cabinet approves Road Connectivity Project for Left Wing Extremism Affected Areas
Dec 28,2016

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has approved a Centrally Sponsored Scheme namely Road Connectivity Project for Left Wing Extremism (LWE) Affected Areas to improve the rural road connectivity in the worst LWE affected districts from security angle.

The project will be implemented as a vertical under Pradhan Mantri Gram Sadak Yojana (PMGSY) to provide connectivity with necessary culverts and cross-drainage structures in 44 worst affected LWE districts and adjoining districts, critical from security and communication point of view. The roads will be operable throughout the year irrespective of all weather conditions.

Under the project, construction/upgradation of 5,411.81 km road and 126 bridges/Cross Drainage works will be taken up at an estimated cost of Rs.11,724.53 crore in the above district. The fund sharing pattern of LWE road project will be same as that of PMGSY i.e. in the ratio of 60:40 between the Centre and States for all States except for eight North Eastern and three Himalayan States (Jammu & Kashmir, Himachal Pradesh & Uttarakhand) for which it is 90:10. Ministry of Finance will have to allocate to Ministry of Rural Development Rs.7,034.72 crore for this project during the period of implementation 2016-17 to 2019-20.

Ministry of Rural Development will be the sponsoring Ministry as well as the implementing Ministry of this project. The likely duration of implementation of the project is four years from 2016-17 to 2019-20.

The Road Connectivity Project for LWE Affected Areas is envisaged in LWE States including the 35 worst affected LWE districts which account for 90% of total LWE violence in the country and 9 adjoining districts critical from security angle as per the inputs and lists of roads / districts provided by the Ministry of Home Affairs. The roads taken up under the scheme would include Other District Roads (ODRs), Village Roads (VRs) and upgradation of the existing Major District Roads (MDRs) that are critical from the security point of view. Bridges up to a span of 100 meters, critical from security angle would also be funded on these roads.

The PMGSY guideline does not permit construction/upgradation of MDRs. However, keeping special circumstances of LWE areas in view, MDRs would be taken up under the scheme as a special dispensation. The National Highways and the State Highways would be excluded from this project. The roads to be constructed under the scheme have been identified by the Ministry of Home Affairs in close consultation with the State Governments and the security agencies, by following a process of extensive consultation.

Background:

Pradhan Mantri Gram Sadak Yojana (PMGSY) was launched on 25th December, 2000 as a Centrally Sponsored Scheme with the objective to provide all-weather road connectivity to all eligible unconnected habitations in rural areas of the country. The programme envisages connecting all eligible unconnected habitations with a population of 500 persons and above (as per 2001 Census) in plain areas and 250 persons and above (as per 2001 Census) in Special Category States namely Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh, Jammu & Kashmir and Uttarakhand, Tribal (Schedule-V) areas, the Desert Areas (as identified in Desert Development Programme) and in Select Tribal and Backward Districts (as identified by the Ministry of Home Affairs/Planning Commission). For most intensive Integrated Action Plan (IAP) blocks as identified by Ministry of Home Affairs the unconnected habitations with population of100 and above (as per 2001 Census) are eligible to be covered under PMGSY.

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Super Crop Safe gets approval for manufacture of certain formulations
Dec 28,2016

Super Crop Safe has received the consent and authorization of Gujarat Pollution Contral Board valid up to 22 March 2021. The Board has given consent for operation of industrial plant for manufacture of the following items / products by formulation only -

Dust Formulation - 625 MT/ month
Liquid Formulation - 166.5 MT/month
Granule Formulation - 320 MT/ month
DDVP Technical - 100 MT/ year

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Cadila Healthcare gains after clarification on media reports
Dec 28,2016

Meanwhile, the S&P BSE Sensex was up 154.26 points or 0.59% at 26,367.70.

On the BSE, 50,000 shares were traded on the counter so far as against the average daily volumes of 57,791 shares in the past one quarter. The stock had hit a high of Rs 358.70 and a low of Rs 343.50 so far during the day.

The stock had hit a 52-week high of Rs 429.45 on 1 November 2016 and a 52-week low of Rs 295.50 on 18 January 2016. It had underperformed the market over the past one month till 27 December 2016, sliding 13.66% compared with the Sensexs 0.39% fall. The scrip had also underperformed the market in the past one quarter, declining 12.01% as against the Sensexs 7.12% fall.

The large-cap company has equity capital of Rs 102.37 crore. Face value per share is Rs 1.

Cadila Healthcare in its clarification issued to the stock exchanges during market hours today, 28 December 2016, said that Zydus Discovery DMCC, a 100% subsidiary of Cadila Healthcare has received an untitled letter and not a warning letter from the United States Food and Drug Administration (USFDA), as being projected in media reports.

The letter is related to a product promotion of a drug which is not marketed in the US and is currently marketed only in India. Cadila Healthcare said it has taken necessary actions to respond to the letter.

Cadila Healthcares consolidated net profit fell 28.9% to Rs 337.60 crore on 3.1% increase in net sales to Rs 2336.30 crore in Q2 September 2016 over Q2 September 2015.

Cadila Healthcare is a global pharmaceutical company that discovers, manufactures and markets a broad range of healthcare therapies.

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Volumes jump at RPP Infra Projects counter
Dec 28,2016

RPP Infra Projects clocked volume of 5.42 lakh shares by 12:30 IST on BSE, a 10.97-times surge over two-week average daily volume of 49,000 shares. The stock rose 17.18% to Rs 230.50.

Godfrey Phillips India notched up volume of 2.22 lakh shares, a 8.60-fold surge over two-week average daily volume of 26,000 shares. The stock rose 6.38% to Rs 1,062.70.

Reliance Defence and Engineering saw volume of 1.27 crore shares, a 8.36-fold surge over two-week average daily volume of 15.30 lakh shares. The stock rose 2.51% to Rs 55.10.

Asahi India Glass clocked volume of 12.19 lakh shares, a 6-fold surge over two-week average daily volume of 2.03 lakh shares. The stock rose 2.54% to Rs 179.50.

Upper Ganges Sugar & Industries saw volume of 1.77 lakh shares, a 3.37-fold rise over two-week average daily volume of 53,000 shares. The stock rose 9.99% to Rs 293.95.

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Granules India allots equity shares
Dec 28,2016

Granules India has allotted 39,17,454 equity shares of face value of Re. 1/- each fully paid-up pursuant to exercise of right for conversion of warrants into equity shares.

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Board of Cupid to consider proposal for raising funds
Dec 28,2016

Cupid announced that a meeting of the Board of Directors will be held on 05 January 2017, inter alia, to consider and discuss the following items:

1. Proposal for raising funds through issue of securities.

2. Increase in authorised capital of the Company.

3. Calling for an Extraordinary General Meeting for obtaining the shareholders approval for the above matters.

4. Such other incidental or ancillary issue which may be required in this regard.

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IDFC Bank to consider Q3 and 9M results
Dec 28,2016

IDFC Bank announced that the Board Meeting of the Bank will be held on 25 January 2017, inter alia, to discuss and approve the Unaudited Financial Results (subjected to Limited Review by Auditors) for the quarter and nine months ending 31 December 2016.

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Kaushalya Infrastructure Development Corpn to appoint director
Dec 28,2016

Kaushalya Infrastructure Development Corpn announced that the meeting of the Board of Directors of the Company will be held on 30 December 2016, inter alia, to consider following businesses:

- To appoint Asoke Das as a Non-Executive Additional Independent Director of the Company w.e.f. 30 December 2016.

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Texel Industries exits BIFR
Dec 28,2016

Texel Industries announced that on 27 December 2016, the Company has received Order of Honorable BIFR, dated 30 November 2016, pronouncing that the Company ceases to be a Sick Industrial Company, within the meaning of Section 3(1)(o) of SICA, as the Companys net worth has turned positive. Therefore, the Company is discharged from the purview of SICA/BIFR.

The said order is pronounced in the matter of Companys Miscellaneous Application No.250/2016, (BIFR Reg. No.433/2001) with BIFR.

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Cupid surges on mulling fund raising
Dec 28,2016

The announcement was made during market hours today, 28 December 2016.

Meanwhile, the S&P BSE Sensex was up 140.05 points or 0.53% at 26,353.49.

On the BSE, 21,000 shares were traded on the counter so far as against the average daily volumes of 17,939 shares in the past one quarter. The stock had hit a high of Rs 314.30 and a low of Rs 289 so far during the day.

The stock had hit a 52-week high of Rs 453.80 on 30 December 2015 and a 52-week low of Rs 228.50 on 18 February 2016. It had underperformed the market over the past one month till 27 December 2016, sliding 1.31% compared with the Sensexs 0.39% fall. The scrip had, however, outperformed the market in the past one quarter, declining 6.59% as against the Sensexs 7.12% fall.

The small-cap company has equity capital of Rs 11.11 crore. Face value per share is Rs 10.

Cupids net profit rose 30.4% to Rs 5.36 crore on 40.5% growth in net sales to Rs 21.53 crore in Q2 September 2016 over Q2 September 2015.

Cupid is a leading manufacturer of quality male and female condoms.

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Globus Spirits gains after Bihar unit resumes operations
Dec 28,2016

The announcement was made during trading hours today, 28 December 2016.

Meanwhile, the BSE Sensex was up 104.10 points, or 0.40%, to 26,317.54.

On the BSE, so far 17,000 shares were traded in the counter, compared with average daily volumes of 1.15 lakh shares in the past one quarter. The stock had hit a high of Rs 87.40 and a low of Rs 83.40 so far during the day.

The stock hit a 52-week high of Rs 115.90 on 29 September 2016. The stock hit a 52-week low of Rs 50.30 on 29 February 2016. The stock had underperformed the market over the past 30 days till 27 December 2016, falling 13.09% compared with the 0.52% fall in the Sensex. The scrip had underperformed the market in past one quarter, falling 20.39% as against Sensexs 7.35% decline.

The small-cap company has equity capital of Rs 28.80 crore. Face value per share is Rs 10.

Globus Spirits said it resumed its operation and commenced its commercial production (with a production capacity of 80,000 bulk litre per day) on 2 December 2016 after removing all the technical bottlenecks at its unit at Jandoho in Bihar. The operations at the Bihar unit were disrupted since 5 September 2016 owing to flooding at the factory premises caused by heavy rains.

Net profit of Globus Spirits declined 97.62% to Rs 0.03 crore on 0.4% rise in net sales to Rs 161.74 crore in Q2 September 2016 over Q2 September 2015.

Globus Spirits is one of the leading players in the Indian alcoholic beverages industry. It caters to four important segments of the alcohol industry - Indian Made Indian Liquor (IMIL), Indian Made Foreign Liquor (IMFL), IMFL bottling and bulk alcohol.

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It is vital to eliminate convenience charge by the banks, says TRAI Chairman RS Sharma
Dec 28,2016

n++Cost, Convenience, and Confidence are crucial factors for a successful Digital Payment System implementation in India,n++ said Shri R. S. Sharma, Chairman, Telecom Regulatory Authority of India (TRAI) during a seminar on n++Demonetization to Digital Remonetizationn++ held at FICCI, Federation House.

FICCI organised an ICT policy dialogue with the agenda to discuss the challenges and opportunities that lie before the ICT sector, government and the regulators following the demonetization move. During his address Shri R. S. Sharma highlighted the pillars of Digital India and mentioned the need of an effective Digital Infrastructure, and how availability and affordability of digital solutions formulates the base of Digital Remonetization. The TRAI chairman highlighted how JAM Trinity creates a robust system within India, which further creates a digital inclusion with 1.1 billion Aadhar users across India.

Shri R. S. Sharma recommended that, in order to create a well operational and sustainable digital and cashless economy, it is vital to eliminate convenience charge by the banks. He firmly suggested that interoperatable or interlinked digital wallets can additionally support the digital payment systems of India. Among other number of recommendations by TRAI chairman, Shri Sharma also mentioned that the implementation of Bharatnet will be faster and effective with PPP model, and further combined with Digital Cable Television System, India will reach a new level of digital connectivity.

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Sirpur Paper Mills announces change in nominee directors
Dec 28,2016

Sirpur Paper Mills announced the following changes in directorate -

1. IDBI Bank has vide its letter dated 19 November 2016 withdrawn the nomination of Bardi Srinivasa Rao, from the Board of the Company and instead appointed Sandhya Bai Yashawant, General Manager, as their nominee director with effect from 28 November 2016;

2. LIC of India informed vide its letter dated 24 November 2016, that since Poonam Bodra their nominee on the Board of the Company was retiring from the services as Executive Director of LIC of India, has tendered her resignation as director of the Company with w.e.f. 24 November 2016. LIC of India has also informed that they reserve their right for appointing a new Director on the Companys Board in place of Poonam Bodra.

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Centre launches IVRS platform to address the problem of call drops
Dec 28,2016

Department of Telecommunications (DoT) has been taking various initiatives to address the problem of call drops faced by subscribers in mobile networks. The Telecom Service Providers (TSPs) have installed more than 1,30,000 additional BTSs (Base Transceiver Stations) across the country during the period from June 2016 to October 2016 and further plan to install more than 1,50,000 additional BTSs across the country up to 31st March 2017.

In order to obtain direct feedback from subscribers and use that feedback to solve the problem of call drops, DoT has launched an Integrated Voice Response System (IVRS) system in Delhi, Mumbai, Punjab, UP, Uttarakhand, Maharashtra and Goa on 23rd December 2016. The IVRS system will be extended to the entire country very soon.

Subscribers will receive an IVRS call from the short code 1955. They will be asked a few questions on the subject of call drops such as- n++Are they facing call drops in their area or not? They can also send a toll-free SMS to the same short code 1955, containing the location of city/town/village, where they might be facing the problem of frequent call drops. The feedback of the subscribers will be shared with the Telecom Service Providers so that they can take corrective steps in the identified areas, to improve the mobile network for addressing the problem of call drops.

Minister of Communications Shri Manoj Sinha said that n++the platform is a channel to capture direct feedback from the consumers and this voice of the customer can be used to improve the services that are being offered to themn++. He said, initially the government will use the platform for call drops and will extend this to capture consumer feedback in other areas as well in the future.

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