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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 the repealing of the obsolete and redundant laws
Jan 18,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for introduction of the Repealing and Amending Bill, 2017 to repeal 105 Acts.

Background:

The two Member Committee constituted by the PMO, the Law Commission of India and the Legislative Department identified 1824 redundant and obsolete Central Acts for repeal. After careful examination and consultation with various Ministries/Departments in the Government of India, four Acts have been enacted to repeal 1175 Central Acts (during the period May, 2014 to August, 2016) by Parliament which are -

i) The Repealing and Amending Act, 2015 (17 of 2015) repealing 35 Acts; The Repealing and Amending (Second) Act, 2015 (19 of 2015) repealing 90 Acts;

ii) The Appropriation Acts (Repeal) Act, 2016 (22 of 2016) repealing 756;

iii) Appropriation Acts including Appropriation (Railways) Acts;

iv) The Repealing and Amending Act, 2016 (23 of 2016) repealing 294 Acts.

Out of the aforesaid 1824 Acts, 227 Acts (including Appropriation Acts enacted by Parliament for the States under Presidents Rule) are identified to be repealed by State Governments have been requested to take necessary action to repeal them.

A list of remaining 422 Central Acts was circulated among all the Ministries/ Departments for their comments on repeal of Acts pertaining to their respective Ministries/Departments. Till date, 73 Ministries/Departments including Legislative Department have given their comments whereby they have agreed to repeal 105 Acts and disagreed to repeal about 139 Acts. On the basis of the comments/concurrence received from the Ministries/Departments, 105 Acts have been identified for repeal by this Department.

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FPIs turn net buyers
Jan 18,2017

Foreign portfolio investors (FPIs) bought stocks worth a net Rs 175.25 crore from the secondary equity markets on 17 January 2017, as compared with net outflow of Rs 338.46 crore during the preceding trading session on 16 January 2017. The net inflow of Rs 175.25 crore on 17 January 2017 was a result of gross purchases of Rs 3461.08 crore and gross sales of Rs 3285.83 crore. On that day, the Sensex declined 52.51 points or 0.19% to settle at 27,235.66, its lowest closing level since 11 January 2017.

There was a net inflow of Rs 10.49 crore into the category primary market & others on 17 January 2017, which was a result of gross purchases of Rs 10.50 and gross sales of Rs 0.01 crore.

FPIs have sold stocks worth a net Rs 3908.02 crore in January 2017 so far (till 17 January 2017). They had sold stocks worth a net Rs 8960.36 crore into the secondary equity markets in December 2016. FPIs had purchased shares worth a net Rs 12094.42 crore from the secondary equity markets in calendar year 2016.

There has been a net outflow of Rs 156.56 crore from FPIs from the category primary market & others in January 2017 so far (till 17 January 2017). There was a net inflow of Rs 784.07 crore from FPIs into the category primary market & others in December 2016. The net inflow from FPIs into category primary markets & others had totaled Rs 8471.76 crore in calendar year 2016.

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Board of Dalmia Bharat Sugar & Industries to consider December quarter results
Jan 18,2017

Dalmia Bharat Sugar & Industries announced that at the meeting of the Board of Directors of the Company to be held on 30 January 2017, inter alia, the Board will consider and approve the Unaudited Financial Results of the Company for the quarter ended on 31 December 2016.

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Board of Dalmia Bharat Sugar & Industries to consider December quarter results
Jan 18,2017

Dalmia Bharat Sugar & Industries announced that at the meeting of the Board of Directors of the Company to be held on 30 January 2017, inter alia, the Board will consider and approve the Unaudited Financial Results of the Company for the quarter ended on 31 December 2016.

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Cabinet approves the exclusion of States from the investments of National Small Savings Fund from 1 April 2016
Jan 18,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval to exclude State Governments States/UTs (with Legislature) except Arunachal Pradesh, Delhi, Kerala and Madhya Pradesh from National Small Savings Fund (NSSF) investments from 01.04.2016. It also approved providing a one-time loan of Rs. 45,000 crore from NSSF to Food Corporation of India (FCI) to meet its food subsidy requirements.

The details are as under:-

a) Exclusion of States/UTs (with Legislature) excepting Arunachal Pradesh, Kerala, Madhya Pradesh and Delhi from NSSF Investments. Arunachal Pradesh shall be given loans to the tune of 100% of NSSF collections within its territory, whereas Delhi, Kerala and Madhya Pradesh shall be provided 50% of collections.

b) Servicing of interest and principal of debt extended to FCI through the budget line of Department of Food and Public Distribution. The repayment obligation of the FCI in respect of NSSF Loans would be treated as the first charge on the food subsidy released to the Food Corporation of India. In addition, FCI shall reduce the amount of its current Cash Credit Limit with the banking consortium to the extent of the NSSF loan amount.

c) NSSF in the future shall, with the approval of Finance Minister, invest on items the expenditure of which is ultimately borne by Government of India and the repayment of principal and interest thereto would be borne from the Union budget.

The States except Arunachal Pradesh, Delhi, Kerala and Madhya Pradesh shall be excluded from NSSF investments from 01.04.2016. A legally binding agreement will be signed between FCI, Department of Food and Public Distribution and Ministry of Finance on behalf of NSSF on the modalities for repayment of interest rate and principal and the restructuring of FCI debt will be made possible within 2-5 years.

Once states are excluded from NSSF investments, the investible funds of NSSF with Gol will increase. Increased availability of the NSSF loan to Gol may reduce the Gols market borrowings. The States will however, see an increase in market borrowings. Any increase in yields due to an increased demand for loanable funds in the market from Centre and States combined would be marginal. The reduction of FCIs borrowing cost equivalent to the extent of the interest differential will be reflected in the Gols savings on the Food Subsidy Bill.

Implementing the decision to exclude states from NSSF investments and extending the loan will entail no additional cost. Instead a reduction in the food subsidy bill of the Gol is anticipated.

Arunachal Pradesh, Delhi, Kerala and Madhya Pradesh will continue availing of NSSF loans, 26 other States and Puducherry who are eligible to borrow from the market have preferred to stop taking loans from the NSSF.

Background:

The Fourteenth Finance Commission (FFC) recommended that State Governments be excluded from the investment operations of the NSSF. The NSSF loans come at an extra cost to the State Government as the market rates are considerably lower. The Union Cabinet in its meeting held on 22nd February, 2015, accepted that this recommendation will be examined in due course in consultation with various stake holders. Barring Arunachal Pradesh, Delhi, Kerala and Madhya Pradesh, the other State Governments/UTs expressed a desire to be excluded from NSSF investments. The involvement of States which are excluded from operations of National Small Savings Fund with effect from 1.4.2016 would be limited solely to discharging the outstanding NSSF debt obligations as on 31.3.2016 (FFC Recommendation). The loan contracted by States till 31.3.2016, from the National Small Savings Fund will stand completely repaid by the Financial Year 2038-39.

NSSF shall extend a part of its collections to Food Corporation of India (FCI) to meet its food subsidy requirement. This will help the FCI reduce its interest cost. FCI presently takes working capital loans through Cash Credit Limit (CCL) at an interest rate of 10.01% and Short Term Loan (STL) at a weighted average interest rate of 9.40%, whereas the NSSF currently charges 8.8% p.a interest on its loans. This savings on interest rate outgo will reduce the food subsidy burden of the Government of India.

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Chennai Meenakshi Multispeciality Hospital to announce December quarter results
Jan 18,2017

Chennai Meenakshi Multispeciality Hospital announced that a Meeting of the Board of Directors of the Company is scheduled to be held on 11 February 2017, inter alia, to consider, approve and take on record the Unaudited Financial Results of the Company for the quarter ended 31 December 2016.

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Chennai Meenakshi Multispeciality Hospital to announce December quarter results
Jan 18,2017

Chennai Meenakshi Multispeciality Hospital announced that a Meeting of the Board of Directors of the Company is scheduled to be held on 11 February 2017, inter alia, to consider, approve and take on record the Unaudited Financial Results of the Company for the quarter ended 31 December 2016.

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Board of Dutron Polymers to consider December quarter results
Jan 18,2017

Dutron Polymers announced that the Board Meeting of the Company will be held on 31 January 2017, to consider and take on record the Unaudited financial result of the Company for the Quarter ended on 31 December 2016.

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Board of Dutron Polymers to consider December quarter results
Jan 18,2017

Dutron Polymers announced that the Board Meeting of the Company will be held on 31 January 2017, to consider and take on record the Unaudited financial result of the Company for the Quarter ended on 31 December 2016.

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GCCL Construction & Realities to announce Q3 results
Jan 18,2017

GCCL Construction & Realities announced that a meeting of the Board of Directors of the Company will be held on 31 January 2017, to approve the Unaudited Financial Results for the 3rd Quarter ended on 31 December 2016.

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Cabinet approves MoU between India and Vietnam In the field of cyber security
Jan 18,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given ex-post facto approval to the Memorandum of Understanding (MoU) between India and Vietnam in the field of Cyber Security. It was signed between Indian Computer Emergency Response Team (CERT-In), India and the Cyber Security Department, Ministry of Public Security, Vietnam on 3rd September 2016 at Hanoi.

The MoU intends to promote closer cooperation for exchange of knowledge and experience in detection, resolution and prevention of cyber security-related incidents between India and Vietnam.

Implementation of the MoU will result in significant mutual benefits in the cyber security sector, through institutional and capacity-building in the field of cyber security in the Socialist Republic of Vietnam.

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Cabinet approves the Establishment of Indian Agricultural Research Institute, Jharkhand
Jan 18,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for the 12th Plan Proposal of the DARE/ICAR Plan Scheme of the Establishment of Indian Agricultural Research Institute (lARI)-Jharkhand. It will have an estimated outlay of Rs. 200.78 crores (100% ICAR share) on 1,000 acre land provided by the Government of Jharkhand at the Gauria Karma Village in Barhi Block of Hazaribag.

lARI-Jharkhand would be a unique Institution, which would possess all the hallmark identities as that of IARI at New Delhi including all sectors of agriculture like field crops, horticultural crops, agro-forestry, animal husbandry, fisheries, poultry, piggery, silk and lac rearing, honey production etc.

IARI-Jharkhand would work on the agrarian challenges and complexities of eastern India with all existing Central and State Government R&D institutions and Private sector enterprises. It will undertake research, education, extension programmes in its mission towards developing quality human resource, generation of farmer friendly technologies to enhance productivity, quality and profitability. It will also promote agro-based industries and generate employment opportunities for holistic and sustainable development of the agriculture sector in the eastern region. It will be an off-campus of IARI, New Delhi and integrated multi-disciplinary research would be undertaken in School mode, i.e. Schools of Crop Sciences, Natural Resource Management, and Animal Sciences.

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Board of Citizen Infoline to consider December quarter results
Jan 18,2017

Citizen Infoline announced that the Board Meeting of the Company will be held on 10 February 2017, to consider and take on record the Unaudited financial result of the Company for the Quarter ended on 31 December 2016.

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Shriram City Union Finance to consider Q3 and 9M results
Jan 18,2017

Shriram City Union Finance announced that the meeting of the Board of Directors of the Company is scheduled to be held on 30 January 2017, inter alia, to consider and approve unaudited financial results for the third quarter and nine months ended 31 December 2016 (Q3) of the Company.

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Board of High Ground Enterprise decides to set up subsidiary in Singapore
Jan 18,2017

High Ground Enterprise announced that the Board of Directors of the Company at their meeting held on 18 January 2017 have decided to set up a Wholly Owned Subsidiary (WOS) in Singapore under the name and style of HGEL International.

In furtherance to the same, the Company is in process for obtaining necessary approval and formalities required by the relevant regulatory authorities.

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