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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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Brigade Enterprises moves north on fund raising proposal
Apr 21,2017

The announcement was made after market hours yesterday, 20 April 2017.

Meanwhile, the S&P BSE Sensex was up 66.34 points or 0.23% at 29,488.73.

On the BSE, 2,415 shares were traded on the counter so far as against the average daily volumes of 40,034 shares in the past one quarter. The stock had hit a high of Rs 245 and a low of Rs 241.45 so far during the day.

The stock had hit a 52-week high of Rs 252.00 on 17 April 2017 and a 52-week low of Rs 145.00 on 26 December 2016. It had outperformed the market over the past one month till 20 April 2017, advancing 4.34% compared with the Sensexs 0.33% fall. The scrip had also outperformed the market over the past one quarter, gaining 55.57% as against the Sensexs 8.83% rise.

The small-cap company has equity capital of Rs 113.66 crore. Face value per share is Rs 10.

Brigade Enterprises board will discuss the current state of the real estate industry and explore fund raising options by way of a Global Depository Receipts, American Depository Receipts or public issue or private placement or rights issue or preferential allotment or qualified institutional placement or any other permitted mode, through domestic and/or international offerings as may be permitted under applicable law, subject to such approvals as may be required, and to approve ancillary actions for the aforesaid fund raising.

Brigade Enterprises consolidated net profit declined 12.4% to Rs 30.41 crore on 14.5% fall in net sales to Rs 537.61 crore in Q3 December 2016 over Q3 December 2015.

Brigade Enterprises is Brigade groups flagship company. Brigade group was established in 1986, with property development as its main focus.

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C-DOT develops CCSP (C-DOT Common Service Platform) to make smart cities more efficient, economical and future proof
Apr 21,2017

Government of Indias announcement of Smart Cities project in mission mode has generated a lot of interest. The concept of smart cities is incomplete without intervention of communication and Information Technology.

A network of wireless sensors, a reliable public communication infrastructure and innovative applications working on big data and analytics will help us realise smart cities. Innovative local solutions will have to be found for local problems. Though this offers great opportunities to industry, including, MSMEs and start-ups. But adoption of standards will ensure that solution developers do not reinvent the wheel but devote their energies to the actual building of product and on innovations. Further, the interoperability will be another dividend of a standards based approach.

Telecommunications Standards Development Society, India (TSDSI), the Indian telecom Standards Development Organisation (SDO) and European Telecommunications Standards Institute (ETSI), an established and highly respected, 29 years old telecom SDO have joined hands to unroll a collaboration project on ICT Standardisation in an endeavour of creating awareness about telecom standards and promoting their wider adoption that Recognising C-DOTs R&D strengths, an India - European Union project called India-EU Cooperation on ICT-Related Standardisation, Policy and Legislation is organising a workshop on n++Future proof smart cities with a common service layer: a standards driven approachn++ at C-DOT campus. Some of the global smart cities will be sharing the standards driven approach they have adopted for building smart cities in their countries.

The workshop aims to provide a platform where foreign and Indian experts from IoT and M2M forums, academia, R&D, industry and senior officials from Ministries of Communications, Urban Development and Electronics and Information Technology and cities named in Indian Smart Cities project can interact to share knowledge and experiences. It is also planned to enrich the interaction by inviting City Councillors from Europe and Korea who have actually implemented smart city projects in their respective cities.

C-DOTs offering:

C-DOT has developed CCSP(C-DOT Common Service Platform), the oneM2M standards compliant common service platform which can be deployed on any off-the-shelf generic server platforms or cloud infrastructure. The business application providers can deploy their oneM2M compliant applications in either co-located infrastructure or on any public or private cloud.

Using the CCSP platform from C-DOT, the smart cities can reap all the benefits of using a standards compliant horizontal service layer and thus be more efficient, economical and future proof.

Along with the CCSP C-DOT has also developed various oneM2M indigenously designed hardware nodes like AND (Application Dedicated Node), ASN (Application Service Node) and MN(Middle node).

To effectively showcase the strength of the platform, C-DOT has also developed various applications like Smart Living, Smart Street Light, Carbon Footprint Monitoring Application and Power Monitoring which are fully oneM2M compliant.

C-DOT has also participated in two international interoperability events where the CCSP and the ADN were tested for interoperability with many other oneM2M compliant nodes from various international organisations like Interdigital, Herit, Huawei, HPE, NTT, KETI, LAAS-CNRS etc. C-DOT also participated in the conformance testing with ETSI.

Brief on P.D.O. (Public Data Office)

C-DOT PDO is ready to bring yet another revolution by taking internet connectivity to every nook and corner of the country like it did in the 1980s when PCOs changed the Indian telecom scene in by taking telephones to rural India. C-DOT hopes that PDOs would bring next telecom revolution by taking internet connectivity to the masses. Like PCOs, the PDOs would enable small shop owners increase their income by selling data vouchers. This will also encourage village-level entrepreneurship and provide strong employment opportunities, especially in rural and semi urban areas.

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Board of Tirupati Fincorp approves change in directorate
Apr 21,2017

Tirupati Fincorp announced that the Board of Directors of the Company at its meeting held on 20 April 2017 has approved the appointment of Parth Kanabar as an Executive Director of the Company and accepted the resignation of Hitsharan Jain as a Director of the Company.

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Reliance Industries provide update on various projects undertaken at Jamnagar
Apr 21,2017

Reliance is executing major projects in its energy and materials chain atJamnagar covering Para-Xylene, Cracker complex along with downstream plants and Gasification. Jamnagar is one the largest contemporary project sites globally with some of the largest and most complex process units ever built anywhere in this industry. These projects will add significant value to Reliances Refining & Petrochemical business and enable Jamnagar complex to achieve energy self-sufficiency.

Para-Xylene, Cracker and downstream projects (MEG, Linear Low density and Low density Polyethylene) as well as Gasification which is linked to RILs DTA refinery, have now been installed, mechanically complete and are in various stages of pre-commissioning and commissioning.

Reliance is pleased to announce the successful and flawless commissioning of the second and final phase of Para-xylene (PX) comprising of PX Crystallizers trains, Trans-alkylation and AromaticExtraction units at Jamnagar.

Earlier in December 2016, RIL had announced successful commissioning of the first phase comprising Train 1 of PX plant. Train 2 as part of second phase has been commissioned earlier this month and the last Train 3, is at an advanced stage of commissioning and will begin production laterthis quarter.

This plant is built with state-of-the-art crystallization technology from BP which is highly energy efficient. With the commissioning of this plant, RILs PX capacity will be more than double. Reliance will emerge as the worlds second largest producer of PX with about 11% of global production.

The Cracker project has a unique configuration as this world scale plant is tightly integrated with RILs refineries and will use refinery off-gases as feedstock. The project comprises 1.5 MMTPA ethylene cracker along with downstream facilities for producing LDPE, LLDPE and MEG. Thiscracker will have one of the lowest cost positions globally. Additionally, flexibility to crack Propane will help optimize feed mix further in a volatile market environment. Reliance has completed installation of cracker and downstream projects at Jamnagar in the previous quarter and precommissioning and start-up activities are in full swing.

Gasification is one of the largest clean-fuel initiatives in the world. Gasification will make Jamnagar complex highly energy efficient with the lowest energy cost for any integrated Refinery and Petrochemicals facility globally.

The installation and mechanical completion for the Gasification project linked to DTA refinery has been completed in the previous quarter and the pre-commissioning and start-up activities are on in full swing. The installation and mechanical completion for the Gasification linked to RILs SEZ refinery has also been substantially achieved and pre-commissioning activities are expected to start in the next quarter.

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RIL advances after commissioning paraxylene plant at Jamnagar
Apr 21,2017

The announcement was made after market hours yesterday, 20 April 2017.

Meanwhile, the S&P BSE Sensex was up 82.57 points or 0.28% at 29,504.96.

On the BSE, 1.22 lakh shares were traded on the counter so far as against the average daily volumes of 2.05 crore shares in the past one quarter. The stock had hit a high of Rs 1,408 and a low of Rs 1,373.05 so far during the day.

The stock had hit a 52-week high of Rs 1,448.50 on 6 April 2017 and a 52-week low of Rs 925.70 on 23 May 2016. It had outperformed the market over the past one month till 20 April 2017, advancing 6.96% compared with the Sensexs 0.33% fall. The scrip had also outperformed the market over the past one quarter, surging 33.51% as against the Sensexs 8.83% rise.

The large-cap company has equity capital of Rs 3251.33 crore. Face value per share is Rs 10.

Reliance Industries (RIL) announced the successful and flawless commissioning of the second and final phase of Para-Xylene (PX) comprising of PX Crystallizers trains, Trans-alkylation and Aromatic Extraction units at Jamnagar.

With the commissioning of this plant, RILs PX capacity will be more than double. RIL will emerge as the worlds second-largest producer of PX with about 11% of global production, it said.

RILs consolidated net profit rose 3.6% to Rs 7506 crore on 17.6% growth in net sales to Rs 79408 crore in Q3 December 2016 over Q3 December 2015.

Reliance Industries (RIL) is Indias largest private sector company. RILs activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and telecommunications.

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Diamond Power tumbles after dismal Q4 results
Apr 21,2017

The result was announced after market hours yesterday, 20 April 2017.

Meanwhile, the S&P BSE Sensex was up 59.42 points, or 0.20% to 29,481.81.

On the BSE, 69,000 shares were traded in the counter so far, compared with average daily volumes of 1.11 lakh shares in the past one quarter. The stock had hit a high of Rs 36.70 and a low of Rs 35.50 so far during the day.

The stock hit a 52-week high of Rs 63.15 on 20 October 2016. The stock hit a 52-week low of Rs 25.70 on 25 April 2016.

The stock had underperformed the market over the past one month till 20 April 2017, falling 7.57% compared with 0.87% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 3.20% as against Sensexs 8.83% rise.

The small-cap company has equity capital of Rs 269.71 crore. Face value per share is Rs 10.

On a consolidated basis, Diamond Power Infrastructures net sales fell 72.85% to Rs 192.28 crore in Q4 March 2017 over Q4 March 2016.

On a consolidated basis, the company reported net loss of Rs 808.57 crore in the year ended March 2017 compared with net loss of Rs 272.81 crore in the year ended March 2016. Net sales fell 49.36% to Rs 1131.73 crore in the year ended March 2017 over the year ended March 2016.

Diamond Power Infrastructure is an integrated manufacturer of power transmission equipment and turnkey services provider (EPC).

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Government of India to issue Sovereign Gold Bonds 2017-18- Series I
Apr 21,2017

Government of India, in consultation with the Reserve Bank of India, has decided to issue Sovereign Gold Bonds 2017-18- Series I. Applications for the bond will be accepted from April 24, 2017 to April 28, 2017. The Bonds will be issued on May 12, 2017.

The Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange.

The features of the Bond are given below:

Sl. No.ItemDetails1Product nameSovereign Gold Bond 2017-18 Gô Series I2IssuanceTo be issued by Reserve Bank India on behalf of the Government of India.3EligibilityThe Bonds will be restricted for sale to resident Indian entities including individuals, HUFs, Trusts, Universities and Charitable Institutions. 4DenominationThe Bonds will ben++denominated in multiples of gram(s) of gold with a basic unit of 1 gram.5TenorThe tenor of the Bond will be for a period of 8 years with exit option from 5th year to be exercised on the interest payment dates.6Minimum sizeMinimum permissible investment will be 1 gram of gold.7Maximum limitThe maximum amount subscribed by an entity will not be more than 500 grams per person per fiscal year (April-March). A self-declaration to this effect will be obtained.8Joint holderIn case of joint holding, the investment limit of 500 grams will be applied to the first applicant only.9Issue pricePrice of Bond will be fixed in Indian Rupees on the basis of simple average of closing price of gold of 999 purity published by the India Bullion and Jewellers Association Limited for the week (Monday to Friday) preceding the subscription period. The issue price of the Gold Bonds will be Rs. 50 per gram less than the nominal value.10Payment optionPayment for the Bonds will be through cash payment (upto a maximum of Rs. 20,000) or demand draft or cheque or electronic banking.11Issuance formThe Gold Bonds will be issued as Government of India Stocks under GS Act, 2006. The investors will be issued a Holding Certificate for the same. The Bonds are eligible for conversion into demat form.12Redemption priceThe redemption price will be in Indian Rupees based on previous weeks (Monday-Friday) simple average of closing price of gold of 999 purity published by IBJA.13Sales channelBonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices as may be notified and recognised stock exchanges viz., National Stock Exchange of India Limited and Bombay Stock Exchange, either directly or through agents. 14Interest rateThe investors will be compensated at a fixed rate of 2.50 per cent per annum payable semi-annually on the nominal value.15CollateralBonds can be used as collateral for loans. The loan-to-value (LTV) ratio is to be set equal to ordinary gold loan mandated by the Reserve Bank from time to time.16KYC DocumentationKnow-your-customer (KYC) norms will be the same as that for purchase of physical gold. KYC documents such asn++Voter ID, Aadhaar card/PAN or TAN /Passport will be required.17Tax treatmentThe interest on Gold Bonds shall be taxable as per the provision of Income Tax Act, 1961 (43 of 1961). The capital gains tax arising on redemption of SGB to an individual has been exempted. The indexation benefits will be provided to long term capital gains arising to any person on transfer of bond18TradabilityBonds will be tradable on stock exchanges within a fortnight of the issuance on a date as notified by the RBI. 19SLR eligibilityThe Bonds will be eligible for Statutory Liquidity Ratio purposes.20CommissionCommission for distribution of the bond shall be paid at the rate of 1% of the total subscription receivedn++ byn++ then++ receiving offices and receiving offices shall share at least 50% of the commission so received with the agents or sub agents for the business procured through them.

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Board of SKP Securities approves buyback of shares up to Rs 6.19 crore
Apr 21,2017

SKP Securities announced that the Board of Directors of the Company at its meeting held on 20 April 2017 has approved proposal to buyback up to 12,15,600 full paid equity shares of the Company (representing 21.65% of the total number of equity shares in the paid up share capital of the Company) at a price of Rs 51 per share for an aggregate consideration of Rs 6.19 crore.

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Tata Steel inches up on boards nod for fund raising
Apr 21,2017

The announcement was made after market hours yesterday, 20 April 2017.

Meanwhile, the S&P BSE Sensex was up 64.08 points or 0.22% at 29,486.47.

On the BSE, 39,000 shares were traded on the counter so far as against the average daily volumes of 6.85 lakh shares in the past one quarter. The stock had hit a high of Rs 460 and a low of Rs 456.50 so far during the day.

The stock had hit a 52-week high of Rs 508.45 on 17 March 2017 and a 52-week low of Rs 297.40 on 24 June 2016. It had underperformed the market over the past one month till 20 April 2017, sliding 8.61% compared with the Sensexs 0.33% fall. The scrip had also underperformed the market over the past one quarter, declining 0.13% as against the Sensexs 8.83% rise.

The large-cap company has equity capital of Rs 971.22 crore. Face value per share is Rs 10.

Tata Steels board at a meeting held yesterday, 20 April 2017, reviewed the performance, capital structure and financing plan of the company. Based on the review and pursuant to the existing shareholders approval, the board approved issue of debt securities of upto Rs 9000 crore in the form either of non-convertible debentures on private placement basis or foreign currency or rupee denominated bonds or a combination thereof in one or more tranches.

The funds will primarily be deployed towards re-financing the existing debt, capex/working capital requirements and general corporate purposes. The board of directors also authorized the finance committee of the board to determine and approve the timing and terms of such issue of securities.

On consolidated basis, Tata Steel reported net profit of Rs 231.90 crore in Q3 December 2016 compared with net loss of Rs 2747.72 crore in Q3 December 2015. Net sales rose 13.4% to Rs 27843.92 crore in Q3 December 2016 over Q3 December 2015.

Tata Steel is the worlds second-most geographically-diversified steel producer, with operations in 26 countries and commercial presence in over 50 countries.

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Thomas Cook (India) intimates of NCLT approval for composite scheme of arrangement and amalgamation between its subsidiaries
Apr 21,2017

Thomas Cook (India) announced that it has received intimation on 20 April 2017 from Travel Corporation (India) (TCI) and SOTC Travel Services (formerly known as Kuoni Travel (India)) (SOTC), wholly owned subsidiaries of the Company, pertaining to approval granted by the National Company Law Tribunal (NCLT) for the Composite Scheme of Arrangement and Amalgamation between SOTC Travel Services (earlier known as Kuoni Travel (India)), Distant Frontiers Tours, SITA Beach Resorts, SITA Destination Management, SITA Holidays (India), SITA Holidays Resorts, SITA Incoming (India), SOTC Travel (formerly known as SITA Travels) and Travel Corporation (India).

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NALCO OFS over-subscribed 3 times; Government of India to raise Rs. 1200 crores
Apr 21,2017

The Central Government has successfully divested 9.2% of paid-up capital in National Aluminum Company (NALCO) to raise Rs. 1,200 crore to begin FY 2017-18 with a bang. Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, Government of India is set a record target of realizing Rs. 72,500 crore through disinvestment. This follows an all-time high achievement of Rs. 46,247 crore during 2016-17.

Originally, the disinvestment in NALCO OFS was pegged at 5% of paid-up capital, but seeing the overwhelming response from the market, DIPAM exercised the green shoe option to retain over-subscription and raised the offer to 9.2% on Wednesday,19th April, 2017. With this transaction, the Government of India shareholding in NALCO has come down to 65.37%.

If the original OFS offer of 5% is considered, the issue is over-subscribed by 2.56 times and if the revised offer of 9.2% is taken, the issue is subscribed 1.43 times. The green shoe option (over-subscription option) was used by the Government for the first time, since the modified OFS procedure spanning 2 days (T and T+1 day) was put in place by SEBI in 2016.

The retail investor continues to back disinvestments of CPSEs by DIPAM. For the fourth time in a row, retail investors out-performed institutional investors. This is particularly satisfying to DIPAM, as one of the objectives of disinvestment policy is to make PSU shareholding broad-based so that nations wealth is shared by its citizens.

Encouraged by the successful completion of NALCO OFS, DIPAM is gearing

- A series of disinvestments throughout the year to meet its target.

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Board of Tata Steel approves issue of debt securities up to Rs 9000 crore
Apr 21,2017

The Board of Directors of Tata Steel at its meeting held on 20 April 2017 reviewed the performance, capital structure and financing plan of the Company. Based on the review and pursuant to the existing shareholders approval, the Board approved issue of debt securities of up to Rs. 9,000 crore in the form either of Non-Convertible Debentures on private placement basis or Foreign Currency or Rupee Denominated Bonds or a combination thereof in one or more tranches. The funds will primarily be deployed towards re-financing the existing debt, capex/working capital requirements and general corporate purposes. The Board of Directors also authorized the Finance Committee of the Board to determine and approve the timing and terms of such issue of securities.

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ACC, HDFC Bank in spotlight ahead of March quarter earnings
Apr 21,2017

ACC will announce its Q1 results today, 21 April 2017. HDFC Bank unveils its Q4 results today, 21 April 2017.

Reliance Industries (RIL) announced the successful and flawless commissioning of the second and final phase of Para-Xylene (PX) comprising of PX Crystallizers trains, Trans-alkylation and Aromatic Extraction units at Jamnagar. The announcement was made after market hours yesterday, 20 April 2017.

State Bank of India (SBI) said it has decided to serve notice of redemption to holders of $400 million Hybrid Tier 1 Notes issued pursuant to SBI, acting through its Nassau branchs $2000 million Medium Term Note programme for the redemption of the Notes on 15 May 2017. The announcement was made after market hours yesterday, 20 April 2017.

Tata Steels board at a meeting held yesterday, 20 April 2017, reviewed the performance, capital structure and financing plan of the company. Based on the review and pursuant to the existing shareholders approval, the board approved issue of debt securities of up to Rs 9000 crore in the form either of non-convertible debentures on private placement basis or foreign currency or rupee denominated bonds or a combination thereof in one or more tranches.

The funds will primarily be deployed towards re-financing the existing debt, capex/working capital requirements and general corporate purposes. The board of directors also authorized the finance committee of the board to determine and approve the timing and terms of such issue of securities. The announcement was made after market hours yesterday, 20 April 2017.

Indian Hotels Company announced that in terms of the authority granted by the board of directors at a meeting held on 18 May 2016, the company has allotted 2,000, rated, listed, unsecured, redeemable, non-cumulative & non- convertible debentures aggregating to Rs 200 crore on private placement basis. The announcement was made after market hours yesterday, 20 April 2017.

Fortune Financial Services (India) announced that a meeting of the board of directors of the company is scheduled to be held on 25 April 2017 to consider the approval for acquisition of equity shares of IRC Credit Management Services and INTL Risk Consultants Insurance Brokers by the company. The board will also consider the merger of Fortune Integrated Assets Finance with Fortune Financial Services(India) and any other business on that day. The announcement was made after market hours yesterday, 20 April 2017.

PVR announced that the employment of Vijay Kapoor who was employed as Chief Business Development Officer of the company has been terminated with effect from 20 April 2017 on disciplinary grounds. The announcement was made after market hours yesterday, 20 April 2017.

Housing Development & Infrastructure (HDIL) announced that it has launched a new project The Nest at Mulund, Mumbai, under the affordable housing brand Budget Homes, having 263 units open for sale in phase 1 of the project. The announcement was made after market hours yesterday, 20 April 2017.

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Roto Pumps wins export excellence award
Apr 20,2017

Roto Pumps has been conferred an award for export excellence as Star Performer for 2013-14 in the products group pumps, compressors, hydraulics and pneumatic power engines and parts - Large Enterprises by EEPC India, Northern Region at its 46th export awards ceremony held on 19 April 2017 in New Delhi.

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Lumax Industries announces resignation of director
Apr 20,2017

Lumax Industries announced that Gursaran Singh, Independent Director of the Company has resigned from the Board of Directors w.e.f.19 April 2017.

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