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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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Soma Textiles & Industries provides operations update
Dec 05,2016

Soma Textiles & Industries announced that after demonetization, order flow has slow down, the Company has therefore decided to work four days a week instead of six days a week in the month of December, 2016 to cope up with the temporary situation and on improvement in orders company will resort to normal working.

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Surya Roshni gets ratings assigned for CP programme
Dec 05,2016

Surya Roshni announced that Considering the overwhelming response for the Commercial Paper Programmes of Rs. 200 crore and the present liquidity conditions, company had requested the ICRA Credit Rating Agency for enhancing the limit of Commercial Paper Programme to Rs. 300 crores from Rs. 200 crores.

Further informed that ICRA Credit Rating vide its letter dated 01 December 2016 has assigned a provisional (ICRA)A1+(SO) rating for the enhanced amount of Rs. 300 crore (enhanced from Rs. 200 crore).

The aforesaid rating has been assigned based on request of the Company, improved financial risk profile characterized by the improvement in its capital structure and debt coverage and supported by performance of the Company. The rating as proposed by ICRA brings liquidity, gradually reduces the finance cost and enhance financial strength of the Company.

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Board of Tantia Constructions appoints director
Dec 05,2016

Tantia Constructions announced that the Board of Directors of the company has approved the appointment of Mohammad Sarim Arshad as an Additional Director (Independent, Non-Executive) w.e.f. 03 December 2016 on the Board of Directors of the Company by passing a resolution by circulation on 03 December 2016.

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Board of Maris Spinners approves change in directorate
Dec 05,2016

Maris Spinners announced about the change in Board of Directors of the Company at the Board of Directors meeting of the Company held on 31 October 2016 :

a. Resignation of M Rengaswamy, Director, has been considered with effect from 01 November 2016 2016.

b. A Hari Govind has been appointed as a Director with effect from 01 November 2016.

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Info Edge (India) makes additional investment in Vcare Technologies
Dec 05,2016

Info Edge (India) announced that the Company has, through its Wholly-owned subsidiary, invested an additional amount of Rs.1 crore through optionally convertible cumulative redeemable preference shares in Vcare Technologies which has developed a mobile application named DIRO that works as a cross platform sharable collaborative phonebook.

Accordingly, the aggregate investment by the Company, including the above, is now Rs.4 crore in Vcare Technologies which translates to about 14.77% stake as on date (may change on account of conditions in investment/shareholder agreement) in the company on a fully converted and diluted basis.

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Shri Aster Silicates appoints director
Dec 05,2016

Shri Aster Silicates announced that Lekha Manibhai Buch has been appointed as an Additional director of the Company w.e.f. 03 December 2016.

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Wipro and Asahi Beverages jointly win ANZ Paragon award for Best BPO Sourcing partnership of 2016
Dec 05,2016

Wipro and Asahi Beverages, the Australian New Zealand business of Japanese beverage giant, have been jointly recognised for the Best BPO Sourcing partnership of 2016 by ANZ Paragon Awards, presented by Information Services Group, a leading technology insights, market intelligence and advisory services company.

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State Bank of Travancore may gain on plans to raise funds
Dec 05,2016

State Bank of Travancore announced that the executive committee of the board of directors of the bank is scheduled to meet on 7 December 2016, to consider and approve, the raising of up to Rs 600 crore by way of issue of Basel III compliant additional tier I bonds. The issue parameters will be as decided in the meeting of the executive committee of the board of directors. The announcement was made after market hours on Friday, 2 December 2016.

NMDC announced that Government of India, Ministry of Steel has communicated the in-principle decision of the Cabinet Committee on Economic Affairs (CCEA) of Government of India to consider strategic disinvestment of the Nagarnar Steel Plant of the company. The announcement was made after market hours on Friday, 2 December 2016.

Separately, company announced on Saturday, 3 December 2016, that the prices of lump iron ore with effect from 29 November 2016 was kept unchanged at Rs 2,100 per wet metric tonne (WMT) compared to prices last revised in early November. The company rose fine ore prices by 5.68% to Rs 1,860 per WMT from 29 November 2016, compared to prices last revised in early November.

Simplex Infrastructures net profit fell 30.76% to Rs 18 crore on 11.88% drop in revenue to Rs 1290 crore in Q2 September 2016 over Q2 September 2015. The order book as on 30 September 2016 stood at Rs 13485 crore excluding the L1 of Rs 2543 crore. The result was announced on Sunday, 4 December 2016.

Info Edge (India) announced that the company has, through its wholly-owned subsidiary, invested an additional amount of Rs 1 crore through optionally convertible cumulative redeemable preference shares in Vcare Technologies which has developed a mobile application named DIRO that works as a cross platform sharable collaborative phonebook.

Accordingly, the aggregate investment by the company, including the above, is now Rs 4 crore in Vcare Technologies which translates to about 14.77% stake as on date (may change on account of conditions in investment/shareholder agreement) in the company on a fully converted and diluted basis. The announcement was made on Saturday, 3 December 2016.

Supreme Infrastructure India reported net loss of Rs 43.39 crore in Q2 September 2016 compared to net profit of Rs 1.11 crore in Q2 September 2015. Net total income from operations fell 41.84% to Rs 194.04 crore in Q2 September 2016 over Q2 September 2015. The announcement was made on Saturday, 3 December 2016.

Kolte-Patil Developers consolidated net profit rose 54% to Rs 19.30 crore on 25% rise in revenue to Rs 226 crore in Q2 September 2016 over Q2 September 2015. The announcement was made on Saturday, 3 December 2016.

Surya Roshni announced that considering the overwhelming response for the commercial paper programmes of Rs 200 crore and the present liquidity conditions, company had requested the ICRA Credit Rating Agency for enhancing the limit of Commercial Paper Programme to Rs 300 crore from Rs 200 crore.

ICRA Credit Rating vide its letter dated 1 December 2016 has assigned a provisional (ICRA)A1+(SO) rating for the enhanced amount of Rs 300 crore (enhanced from Rs. 200 crore).

The rating has been assigned based on request of the company, improved financial risk profile characterized by the improvement in its capital structure and debt coverage and supported by performance of the company. The rating as proposed by ICRA brings liquidity, gradually reduces the finance cost and enhance financial strength of the company. The announcement was made on Saturday, 3 December 2016.

Bajaj Finance announced allotment of 1,050 unsecured subordinated, Tier II, redeemable non-convertible debentures on private placement basis aggregating Rs 105 crore on 2 December 2016. The announcement was made on Saturday, 3 December 2016.

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Orbit Corporation intimates of withdrawal of resignation of company secretary
Dec 03,2016

Orbit Corporation announced that Ronak V. Kalathiya has withdrawn his resignation and has resumed the office as the Company Secretary & Compliance Officer of the Company w.e.f. 21 November 2016.

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Orbit Corporation intimates of withdrawal of resignation of company secretary
Dec 03,2016

Orbit Corporation announced that Ronak V. Kalathiya has withdrawn his resignation and has resumed the office as the Company Secretary & Compliance Officer of the Company w.e.f. 21 November 2016.

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A2Z Infra Engineering secures contract worth Rs 35.25 cr
Dec 03,2016

A2Z Infra Engineering announced that a contract has been awarded from Chhattisgarh State Power Transmission Company (a government of Chhattisgarh Undertaking) vide the letter of award dated December 02, 2016 for Construction of 132 KV S/S Pakhanjur and associates EHV line on turnkey basis TR-16/05.

The aggregate value of the said Contract is Rs 35,25,84,216.00/- (Rs Thirty Five crore twenty five lakh eighty four thousand two hundred Sixteen only).

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A2Z Infra Engineering secures contract worth Rs 35.25 cr
Dec 03,2016

A2Z Infra Engineering announced that a contract has been awarded from Chhattisgarh State Power Transmission Company (a government of Chhattisgarh Undertaking) vide the letter of award dated December 02, 2016 for Construction of 132 KV S/S Pakhanjur and associates EHV line on turnkey basis TR-16/05.

The aggregate value of the said Contract is Rs 35,25,84,216.00/- (Rs Thirty Five crore twenty five lakh eighty four thousand two hundred Sixteen only).

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Board of AstraZeneca Pharma India approves change in directorate
Dec 03,2016

AstraZeneca Pharma India announced that the Board of Directors of the Company at its meeting held on 02 December 2016 has approved the following change in directorate -

Accepted the resignation of D E Udwadia as Director of the Company with effect from 02 December 2016.

Accepted resignation of K S Shah as Director of the Company with effect from 02 December 2016.

Accepted resignation of Claire-Marie OGrady as Director of the Company with effect from 02 December 2016.

Revathy Ashok and Greg Mueller have been co-opted as Additional Directors on the Board of the Directors with immediate effect.

Rajesh Marwah, CFO of the Company has been inducted into the board as Additional and Whole Time Director.

Narayan K Sheshadri has been elected as Chairman of Board.

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Board of AstraZeneca Pharma India approves change in directorate
Dec 03,2016

AstraZeneca Pharma India announced that the Board of Directors of the Company at its meeting held on 02 December 2016 has approved the following change in directorate -

Accepted the resignation of D E Udwadia as Director of the Company with effect from 02 December 2016.

Accepted resignation of K S Shah as Director of the Company with effect from 02 December 2016.

Accepted resignation of Claire-Marie OGrady as Director of the Company with effect from 02 December 2016.

Revathy Ashok and Greg Mueller have been co-opted as Additional Directors on the Board of the Directors with immediate effect.

Rajesh Marwah, CFO of the Company has been inducted into the board as Additional and Whole Time Director.

Narayan K Sheshadri has been elected as Chairman of Board.

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Asia Pacific Market: Stocks sluggish ahead of US payroll data
Dec 02,2016

Asia Pacific share market ended lower on Friday, 02 December 2016, as investors flew to lock-in recent gains on caution ahead of the release of U.S. jobs data for November later on Friday and Italys national referendum on constitutional amendments on Sunday

Investors are closely watching the U.S. employment data in search of a clue about whether the Fed will carry out an interest rate hiken++ at its Federal Open Market Committee meeting in December in line with growing market expectations.

On Sunday, Italy votes on constitutional reform. The result is being closely watched for its potential to topple the government with Italys heavily indebted banks already close to peril.

Crude Oil prices slipped on Friday as some investors opted to cash out after Brent touched a 16-month high on Thursday, with optimism over this weeks OPEC-Russia accord on cutting output giving way to questions on the sticking point of implementing the deal. Crude prices on Friday were pressured by data showing oil output in Russia rose in November to a post-Soviet high and news that Moscow would use its record November oil production as its baseline when it cuts output. U.S. West Texas Intermediate (WTI) futures settled up 62 cents, or 1.2%, at $51.68. The 5-day gain of 12.2% was the best weekly performance since February, 2011. The Organization of the Petroleum Exporting Countries, which accounts for a third of global oil supply, will reduce production starting in January by 1.2 million barrels per day, or over 3%, to 32.5 million bpd. As part of the OPEC deal, Russia has promised to gradually cut its crude output by up to 300,000 barrels per day in the first half of 2017. Russia and other non-OPEC producer are set to meet with OPEC on Dec. 9.

Among Asian bourses

Nikkei closes down

The Japan share market ended lower, as investors opted to lock in profits prior to closely watched events (US jobs data and a weekend Italian referendum). The 225-issue Nikkei average lost 87.04 points, or 0.47%, to close at 18,426.08. The Topix index of all first-section issues finished down 5.29 points, or 0.36%, at 1,477.98. Falling issues outnumbered rising ones 1,172 to 700 in the TSEs first section, while 118 issues were unchanged. Volume slightly increased to about 2.83 billion shares from Thursdays about 2.82 billion shares.

A pause in the yens recent weakening battered export-oriented names, including automakers Toyota, Honda and Fuji Heavy and industrial robot manufacturer Fanuc. Apple parts suppliers, such as Murata Manufacturing and Alps Electric, met with selling on a new report that the U.S. technology giant is reducing orders for iPhone 7 with suppliers due to worries about excess inventories. Other major losers included mobile game site operator DeNA, game maker Nintendo, mobile phone carrier KDDI and retail giant Seven & I Holdings.

By contrast, mega-banks Mitsubishi UFJ, Sumitomo Mitsui and Mizuho, brokerage firm Nomura and insurer Tokio Marine were buoyant in line with higher yields on Japanese government bonds after yields on 10-year U.S. Treasuries jumped to their highest levels since June 2015.. Oil Company Inpex, trading houses Mitsui and Mitsubishi and steel makers JFE Holdings and Nippon Steel & Sumitomo Metal were also on the plus side.

Australia Market falls on profit taking

Australian share market finished session deeply in red, as a reversal of the mining rally and profit taking. With the exception of gold producers, every sector was down, with energy and financial issues leading losses on profit booking. At the closing bell, the benchmark S&P/ASX 200 index fell 56.20 points, or 1.02%, to 5444, while the broader All Ordinaries index declined 57.80 points, or 1.04%, to close at 5502.60.

Energy and mining stocks were biggest drag on the benchmark index today on profit taking following strong yesterday gain. Among energy players, Woodside Petroleum sank 1.9% to A$30.94, Oil Search 0.1% to A$7.03, and Santos 0.5% to A$4.37. Among mining shares, BHP Billiton dropped 2.3% to A$25.02 and Rio Tinto 1.1% to A$58.04. Iron ore miner Fortescue Metals Group fell 3.2% to A$6.15.

Shares of financial players snapped their three-day winning streak, with big four banks being major losers. Among major banks, Westpac declined 1% to A$31.34, Australia & New Zealand Banking Group 0.8% to A$28.46, Commonwealth Bank of Australia 1.2% to A$78.60, and National Australia Bank 1.1% to A$29.07.

Bellamys was down 44% to close at A$6.85 after baby foods maker said that new import rules in China had created a supply glut that was hurting sales. Other China-exposed plays such as Bega Cheese and Blackmores were also languishing down 6.3% and 3.6% respectively.

China Stocks fall back on profit-taking

Mainland China stock market turned down on Friday, 02 December 2016, pushed down by selling to lock in profits following previous gains and on caution ahead of closely watched events. The Shanghai Composite Index dropped 0.9%, to 3,243.84, while the smaller Shenzhen Component Index closed 1.58% lower at 10,912.63 points. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, lost 1.76% to close at 2,143.45 points.

Securities, insurance, and telecommunications were among the days biggest losers. Leading telecom company China Unicom slumped 6.68% to close at 6.84 yuan per share. Bucking the trend, oil and gas shares extended strong performances on Friday, with oil giant Sinopec gaining 4.36% to end the day at 5.5 yuan per share.

Next week, Chinas stock market will see around 54.8 billion yuan of locked-up shares released for trading, and the stock connection between Hong Kong and Shenzhen will open on December 5, allowing investors to buy and sell shares on each others markets.

Hong Kong Stocks end sharply lower

The Hong Kong stock market finished session lower, as investors locked in gains ahead of U.S. jobs data later in the session and a weekend Italian referendum on Sunday. The Hang Seng Index ended down 1.37%, or 313.41 points, to 22,564.82 while the Hang Seng China Enterprises index declined 1.12%, or 111.08 points, to 9,781.23. Turnover increased to HK$80.9 billion from HK$74.8 billion on Thursday.

Casino players tumbled after reports that visitors carrying more than MOP120,000 cash entering Macau need to declare to the customs. Deutsche Bank said the curb add risks to Macau gaming industry. Sands China (01928) and Galaxy Entertainment (00027) slid 4% and 5% to HK$35.6 and HK$35.75. The stocks were the top blue-chip losers. Wynn Macau (01128) plunged 5% to HK$13.16.

HKEx (00388) softened 1% to HK$202.8 as the Connect factor failed to inspire buying. Mainland insurers retreated, with China Life (02628) and Ping An (02318) falling 3% and 2% to HK$21.7 and HK$41.9.

China Taiping (00966) acquired a 9% stake in Emperor Capital (00717). China Taiping dipped 3% to HK$17.42. Emperor Capital weakened by 1.2% to HK$0.81.

Sensex falls on global worries

Indian stock market extended losses for second straight session as investors hit the exit button amid mounting global concerns. Participants are in a wait-and-watch mode ahead of US jobs report as well as Italys constitutional referendum on Sunday, which could determine whether or not the country will remain in the Eurozone. Caution also prevailed ahead of the Reserve Banks policy review next week, leading to fall in banking counters. Sustained foreign capital outflows also affected the market sentiment. Foreign funds sold shares worth a net Rs402.62 crore on Thursday, as per provisional data released by the stock exchanges. All the sectoral indices, led by consumer durables, FMCG and auto, ended with losses up to 2.32% as selling pressure intensified. The BSE Sensex ended down 329.26 points, or 1.24% , lower at 26,230.66, its lowest closing since 28 November. The NSE 50-share Nifty dropped by 106.10 points or 1.30% to close at 8,086.80.

IndusInd Bank lost 2.1%. The bank said it proposes to raise funds by issue and allotment of senior unsecured redeemable non-convertible long term bonds in the nature of debentures (infrastructure bonds) for cash aggregating to Rs 1500 crore on private placement basis. The borrowing shall be within the overall borrowing limits of the bank as may be approved by the shareholders from time to time.

Tata Motors fell 3.5% after the company reported flat sales in November 2016. Tata Motors said its passenger and commercial vehicle total sales in November 2016 were at 38,900 units, almost flat compared with 38,918 vehicles sold in November 2015. The companys domestic sales of Tata commercial and passenger vehicles declined 6% to 33,274 units in November 2016 over November 2015. Exports surged 57% to 5,626 units in November 2016 over November 2015.

Elsewhere in the Asia Pacific region: New Zealands NZX50 was down 0.4% to 6904.85. Indonesias Jakarta Composite index added 0.9% to 5245.96. Taiwans Taiex sank 0.8% to 9189.49. South Koreas KOSPI index was down 0.7% to 1970.61. Malaysias KLCI grew 0.2% to 1628.96. Singapores Straits Times index fell 0.3% to 2919.37.

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