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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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Talbros Engineering schedules board meeting
Aug 09,2017

Talbros Engineering will hold a meeting of the Board of Directors of the Company on 17 August 2017.

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Sturdy Industries announces board meeting date
Aug 09,2017

Sturdy Industries will hold a meeting of the Board of Directors of the Company on 14 August 2017, for the approval of the Un-audited Financial Results for the 1st Qtr ended on 30th June 2017

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Alan Scott Industries to announce Quarterly Result
Aug 09,2017

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

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Thyrocare Technologies to announce Quarterly Result
Aug 09,2017

Thyrocare Technologies will hold a meeting of the Board of Directors of the Company on 12 August 2017, to consider and approve unaudited Stand-alone and Consolidated Financial Results of the Company for the quarter ended June 30, 2017.

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Unipro Technologies to convene board meeting
Aug 09,2017

Unipro Technologies will hold a meeting of the Board of Directors of the Company on 14 August 2017, to consider inter-alia the Un Audited Financial Results for the First Quarter ended 30th June, 2017

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HDIL slumps over 36% in five sessions
Aug 09,2017

Meanwhile, the S&P BSE Sensex was down 128.26 points, or 0.40% to 31,885.93.

On the BSE, 1.21 crore shares were traded in the counter so far, compared with average daily volumes of 24.47 lakh shares in the past one quarter. The stock had hit a high of Rs 56.40 so far during the day. The stock had hit a low of Rs 45.10 so far during the day, which is also a 52-week low for the counter. The stock hit a 52-week high of Rs 102.45 on 9 August 2016.

The stock had underperformed the market over the past one month till 8 August 2017, falling 34.36% compared with 0.94% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 40.93% as against Sensexs 5.84% rise. The scrip had also underperformed the market in past one year, falling 44.56% as against Sensexs 13.99% rise.

The small-cap company has equity capital of Rs 434 crore. Face value per share is Rs 10.

The Bombay Stock Exchange (BSE) sought clarification from Housing Development and Infrastructure (HDIL) today, 9 August 2017, with reference to a news flash citing that HDIL failed to repay Rs 144 crore loan to Central Bank of India. Central Bank of India has seized Kurla property. HDIL doing one-time settlement with banks for subsidiary debt. Some account of the company has been attached by the Income Tax Department. HDIL is yet to clarify on the news report.

Shares of Housing Development & Infrastructure (HDIL) has fallen 36.17% in five trading sessions from its close of Rs 85.85 on 2 August 2017.

On 3 August 2017, HDIL announced that the National Company Law Tribunal (NCLT) admitted insolvency application against HDILs wholly-owned subsidiary, Guruashish Construction, filed by the Union Bank of India.

The company said in a notice to the BSE that NCLT had appointed insolvency resolution professionals to carry out the functions. The company said it will file a reply and take appropriate measures.

According to the Reserve Bank of India (RBI) guidelines, if a resolution plan is found within 270 days, the company will head for liquidation.

Guruashish Construction has defaulted on Rs 250 crore repayment to Union Bank of India earlier this year which led the bank to file a bankruptcy plea against the company.

HDIL will report its Q1 June 2017 results on 11 August 2017. On a consolidated basis, HDILs net profit rose 28% to Rs 60.88 crore on 61.53% decline in net sales to Rs 132.09 crore in Q4 March 2017 over Q4 March 2016.

HDIL is a real estate development company, with significant operations in the Mumbai Metropolitan Region.

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Sun Pharma slips after Taros poor show in June quarter
Aug 09,2017

Meanwhile, the S&P BSE Sensex was down 128.41 points or 0.4% at 31,885.78.

On the BSE, 4.44 lakh shares were traded on the counter so far as against the average daily volumes of 5.19 lakh shares in the past one quarter. The stock had hit a low of Rs 475.40 so far during the day, which is a 52-week low. The stock hit a high of Rs 492.65 so far during the day. The stock had hit a 52-week high of Rs 844.90 on 8 August 2016.

The stock had underperformed the market over the past one month till 8 August 2017, sliding 8.97% compared with the Sensexs 2.08% rise. The stock had also underperformed the market over the past one quarter, declining 21.52% as against the Sensexs 6.98% rise. The scrip had also underperformed the market over the past one year, declining 39.92% as against the Sensexs 13.6% rise.

The large-cap company has equity capital of Rs 239.93 crore. Face value per share is Rs 1.

Taro Pharmaceutical Industries net profit fell 50.4% to $54.50 million on 31% decline in net sales to $161.30 million in the quarter ended 30 June 2017 over the quarter ended 30 June 2016.

Meanwhile, Sun Pharmaceutical Industries announced after market hours yesterday, 8 August 2017 that one of its wholly owned subsidiaries has agreed to acquire by way of allotment to it, 2.03 lakh Series A Preferred Stock (equivalent to 15.91% fully diluted equity stake on conversion) of Krystal Biotech Inc., United States of America, a biopharmaceutical company using gene therapy to develop treatments for patients suffering from rare debilitating disorders.

On a consolidated basis, net profit of Sun Pharmaceutical Industries declined 16.7% to Rs 1385.57 crore on 8% decline in net sales to Rs 6825.16 crore in Q4 March 2017 over Q4 March 2016.

Sun Pharmaceutical Industries is the worlds fourth largest specialty generic pharmaceutical company and Indias top pharmaceutical company.

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Sun Pharma slips after Taros dismal show in June quarter
Aug 09,2017

Meanwhile, the S&P BSE Sensex was down 128.41 points or 0.4% at 31,885.78.

On the BSE, 4.44 lakh shares were traded on the counter so far as against the average daily volumes of 5.19 lakh shares in the past one quarter. The stock had hit a low of Rs 475.40 so far during the day, which is a 52-week low. The stock hit a high of Rs 492.65 so far during the day. The stock had hit a 52-week high of Rs 844.90 on 8 August 2016.

The stock had underperformed the market over the past one month till 8 August 2017, sliding 8.97% compared with the Sensexs 2.08% rise. The stock had also underperformed the market over the past one quarter, declining 21.52% as against the Sensexs 6.98% rise. The scrip had also underperformed the market over the past one year, declining 39.92% as against the Sensexs 13.6% rise.

The large-cap company has equity capital of Rs 239.93 crore. Face value per share is Rs 1.

Taro Pharmaceutical Industries net profit fell 50.4% to $54.50 million on 31% decline in net sales to $161.30 million in the quarter ended 30 June 2017 over the quarter ended 30 June 2016.

Meanwhile, Sun Pharmaceutical Industries announced after market hours yesterday, 8 August 2017 that one of its wholly owned subsidiaries has agreed to acquire by way of allotment to it, 2.03 lakh Series A Preferred Stock (equivalent to 15.91% fully diluted equity stake on conversion) of Krystal Biotech Inc., United States of America, a biopharmaceutical company using gene therapy to develop treatments for patients suffering from rare debilitating disorders.

On a consolidated basis, net profit of Sun Pharmaceutical Industries declined 16.7% to Rs 1385.57 crore on 8% decline in net sales to Rs 6825.16 crore in Q4 March 2017 over Q4 March 2016.

Sun Pharmaceutical Industries is the worlds fourth largest specialty generic pharmaceutical company and Indias top pharmaceutical company.

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Zydus receives final approval for Diltiazem Hydrochloride Extended-Release Capsules
Aug 09,2017

Zydus Cadila has received the final approval from the USFDA to market Diltiazem Hydrochloride Extended-Release Capsules USP in strengths of 120 mg, 180 mg, 240 mg, 300 mg and 360 mg. The drug is used in the treatment of hypertension (high blood pressure), angina (chest pain) and certain heart rhythm disorders. It will produced at the groups formulations manufacturing facility at the Pharma SEZ in Ahmedabad.

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Bank of Baroda intimates of bank unions strike
Aug 09,2017

Bank of Baroda announced that the United Forum of Bank Unions has served a notice of strike informing its decision to go on an All India One Day Strike on 22 August 2017.

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Nettlinx acquires 51% stake in Venkateswara Green Power Projects
Aug 09,2017

Nettlinx announced acquisition of a controlling 51% stake in Sri Venkateswara Green Power Projects, a company involved in developing and implementing a viable and environmentally sustainable 12 MW power plant, a renewable energy project.

The proposed state-of-the-art power plant, converts GHMC waste into energy, is being developed in the GHMC south zone located about 50 km from the Telangana State Secretariate. The project will be operational in about 18 months time.

This acquisition is part of the Companys strategy to diversify into sunrise business segments.

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ADB Sells Dual-Tranche $750 Million 5-Year and $500 Million 10-Year Global Green Bonds to Spur Climate Financing
Aug 09,2017

The Asian Development Bank (ADB) has raised $1.25 billion to help finance climate change mitigation and adaptation projects with the issue of dual-tranche 5-year and 10-year green bonds.

n++ADB is responding to the rapidly growing demand for green bonds with our second dual-tranche outing and our first 5-year green bond offering,n++ said ADB Treasurer Pierre Van Peteghem. n++We have found the dual-pronged approach taken today to be an efficient means of reaching ethical investors active at different segments of the yield curve. This approach means that ADB is reaching an increasing number of investors who understand the importance of the green label.n++

Proceeds of the green bonds will support low-carbon and climate resilient projects funded through ADBs ordinary capital resources and used in its non-concessional operations.

In 2015, ADB announced that it would double its annual climate financing to $6 billion by 2020. ADBs support for climate change will rise to around 30% of its overall financing by the end of this decade. Out of the $6 billion, $4 billion will be dedicated to mitigation through scaling up support for renewable energy, energy efficiency, sustainable transport, and building smart cities, while $2 billion will be for adaptation through more resilient infrastructure, climate-smart agriculture, and better preparation for climate-related disasters.

The 5-year bond has an issue size of $750 million, a coupon rate of 1.875% per annum payable semi-annually and a maturity date of 10 August 2022. It was priced at 99.531% to yield 16.3 basis points over the 1.875% US Treasury notes due July 2022. The 10-year bond has an issue size of $500 million, a coupon rate of 2.375% per annum payable semi-annually and a maturity date of 10 August 2027. It was priced at 99.172% to yield 20.5 basis points over the 2.375% US Treasury notes due May 2027.

The transactions were lead-managed by Bank of America Merrill Lynch, Credit Agricole CIB, and J.P. Morgan. A syndicate group was also formed consisting of Citi, HSBC, Morgan Stanley, and TD Securities.

Both issues achieved wide primary market distribution with 24% of the 5-year bonds placed in Asia; 29% in Europe, Middle East, and Africa; and 47% in the Americas. By investor type, 38% of the bonds went to central banks and official institutions; 31% to banks; and 31% to fund managers. For the 10-year bonds, 13% were placed in Asia; 69% in Europe, Middle East, and Africa; and 18% in the Americas. By investor type, 25% of the bonds went to central banks and official institutions; 52% to banks; and 23% to fund managers.

ADB plans to raise around $27 billion to $30 billion from the capital markets in 2017.

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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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