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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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FPIs extend selling
Dec 21,2016

Foreign portfolio investors (FPIs) sold stocks worth a net Rs 621.37 crore into the secondary equity markets on 20 December 2016, higher than their net outflow of Rs 515.03 crore during the preceding trading session on 19 December 2016. The net outflow of Rs 621.37 crore on 20 December 2016 was a result of gross purchases of Rs 3288.88 crore and gross sales of Rs 3910.25 crore. On that day, the Sensex lost 66.72 points or 0.25% to settle at 26,307.98, its lowest closing level since 7 December 2016.

FPIs have sold stocks worth a net Rs 2850.05 crore into the secondary equity markets in this month so far (till 20 December 2016). They bought shares worth a net Rs 20116.27 crore from the secondary equity markets last month. FPIs have purchased shares worth a net Rs 18204.73 crore from the secondary equity markets in calendar year 2016 so far (till 20 December 2016). They sold shares worth a net Rs 4863.71 crore into the secondary equity markets in calendar year 2015.

There has been a net inflow of Rs 787.46 crore from FPIs into the category primary markets & others in this month so far (till 20 December 2016). There was a net inflow of Rs 1872.02 crore from FPIs into the category primary markets & others last month. The net inflow from FPIs into category primary markets & others has totaled Rs 8475.15 crore in calendar year 2016 so far (till 20 December 2016). There was net inflow of Rs 22168.40 crore from FPIs into the category primary markets & others in calendar year 2015.

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Cabinet approves doubling of Rajpura-Bhatinda railway line
Dec 21,2016

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister has given its approval for doubling of Rajpura-Bhatinda railway line at an estimated cost of Rs 1251.25 crore and expected completion cost of Rs 1465.59 crore.

The 172.64 km long railway line is expected to be completed in five years.

The present utilization of this section is nearly 100%. Enhancement of capacity of power plants and planned freight terminals will generate additional freight traffic on this route. The doubling will ease the traffic bottlenecks and will bring more revenue to Indian Railways by capacity enhancement of the route. The districts of Patiala, Sangrur, Barnala and Bathinda would also be benefitted through this project.

The Rajpura-Bathinda section falls in Ambala Division of Northern Railway. At present traffic utilization of the section is nearing saturation. This line is strategically important as several military specials are routed on this line connecting the Western border. The main objective for doubling between Rajpura-Bathinda is to remove capacity constraint and to cater for future growth of traffic on the important route of Indian Railways.

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D B Corp allots equity shares
Dec 21,2016

D B Corp announced that on 20 December 2016, the Compensation Committee of the Board of Directors of the Company has allotted 9,219 shares of Rs. 10/- each on exercise of 9,219 stock options under DBCL-ESOS- 2008, DBCL-ESOS- 2010 and DBCL-ESOS- 2011 - Tranche 3 Schemes, to its employees covered under the scheme.

The new equity shares rank pari passu in all respect with the existing capital.

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D S Kulkarni Developers announces resignation of directors
Dec 21,2016

D S Kulkarni Developers announced that following Independent Directors have resigned w.e.f. 21 December 2016:

1. Vasant Chintaman Joshi and
2. Ramakant D. Kharosekar.

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Cabinet approves creation of Indian Enterprise Development Service (IEDS)
Dec 21,2016

The Union Cabinet chaired by the Prime Minister has given its approval to the Cadre review and formation of a new service in the name of n++ndian Enterprise Development Service (IEDS) in the Office of Development Commissioner (MSME), Ministry of Micro, Small and Medium Enterprises(MSME). The creation of the new cadre and change in structure will not only strengthen the organization but will also help to achieve the vision of Startup India, Stand-up India and Make in India.

The measure will enhance the capacity and efficiency of the organization and also help in achieving growth in MSME sector through a focussed and dedicated cadre of technical officers.

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Board of Rathi Graphic Technologies approves resignation of director and change in CFO
Dec 21,2016

Rathi Graphic Technologies announced that the following mentioned members of the Board and KMP has resigned or appointed from/to the office in the duly held Board Meeting on 17 December 2016:

1. Anita Chopra - Resigned from the post of Non-executive Independent Director of the Company w.e.f. 24 November 2016.

2. Mukesh Kumar Sharma - Resigned from the post of Chief Financial Officer of the Company w.e.f. 22 November 2016.

3. Shiv Kumar - Appointed as Chief Financial Officer of the Company w.e.f. 14 December 2016.

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GE T&D India announces change in directorate
Dec 21,2016

GE T&D India announced that -

1. The Board of Directors of the Company has accepted resignation of Ravi Kumar Krishnamurthy as Whole-time Director and as director of the Company effective from 21 December 2016, as he wishes to pursue his career outside the Company.

2. Nagesh Tilwani has been appointed by the Board as additional Director and as Whole-time Director with effect from 21 December 2016 subject to approval of shareholders.

The term of appointment of Nagesh Tilwani as Whole-time Director is two years.

Nagesh Tilwani is not related with any director of the Company.

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DCB Bank allots equity shares
Dec 21,2016

DCB Bank has allotted 7,675 equity shares of Rs.10/- each on 21 December 2016, pursuant to the terms of the Employee Stock Option Plan (ESOP) of the Bank. Post this allotment, Banks issued and paid up share capital has increased to 285,044,103 shares of Rs.10/- each.

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Cabinet approves sale of part of surplus and vacant land of Hindustan Anti-biotics
Dec 21,2016

The Union Cabinet chaired by the Prime Minister has approved the sale of part of surplus and vacant land at Pimpri in Pune, Maharashtra for meeting the liabilities of Hindustan Anti-biotics (HAL).

The proposal entails:

(i) Sale of surplus and vacant land of about 87.70 acres of HAL (actual area of land to be sold would depend upon the rates received in bids, as per guidelines of BIFR) to meet the net liabilities of Rs 821.17 crore after waiver and deferment, through an open competitive bid from Central /State Government Departments, Govt. Agencies, Central/State PSUs, Autonomous Bodies, Urban Development Authorities etc.

(ii) Waivers of Govt. of India loans and interest amounting to Rs 307.23 crore (principal amount of Rs 186.96 crore and interest approximately Rs 120.27 crore thereon calculated as on 30.9.2017) and deferment of various dues amounting to Rs 128.68 crore.

(iii) Sanction of an immediate loan of Rs 100 crore to meet the wages, salaries and other critical expenses of immediate nature. The loan will be repaid to the Government from sale proceeds of the HAL land.

The approval will help the Government in optimum utilization of the Companys assets and to take further decisions in respect of the Company for:

(i) Rehabilitation; (ii) Strategic Sale; or (iii) Closure

On implementation of the scheme/proposal, HAL will be lean with no liabilities and clean balance-sheet, so that the implementation of recommendations of the Ministers Committee is facilitated.

Sale of HAL land at Pimpri in Pune, Maharashtra will facilitate mitigation of sufferings and critical condition of the employees and if the liabilities are met and the balance sheet is cleaned, the implementation of recommendations of the Ministers Committee will be facilitated.

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Board of Fischer Chemic decides to reduce equity share capital
Dec 21,2016

Fischer Chemic announced that the Board of Directors of the Company at its meeting held on 21 December 2016 has decided to reduce the equity share capital of the Company from Rs 3.44 crore divided into 34,40,000 equity shares of Rs 10 each to Rs 17.20 lakh dividend into 1,72,000 equity shares of Rs 10 each and that such reduction be affected by cancelling of 32,68,000 equity shares of Rs 10 each amounting to Rs 3.26 crore in the existing paid up equity share capital against debit balance in profit and loss account.

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Mercator gains for second day in a row after new order win
Dec 21,2016

Meanwhile, the S&P BSE Sensex was down 79.53 points or 0.3% at 26,228.45

On the BSE, 1.72 lakh shares were traded on the counter so far as against average daily volumes of 4.64 lakh shares in the past one quarter. The stock hit a high of Rs 40.80 and a low of Rs 39.10 so far during the day.

The stock had hit a 52-week high of Rs 54.55 on 6 September 2016. The stock had hit a 52-week low of Rs 15.90 on 12 February 2016. The stock had outperformed the market over the past 30 days till 20 December 2016, rising 15.11% compared with the 2.11% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, sliding 16.84% as against Sensexs 7.72% decline.

The small-cap company has equity capital of Rs 24.49 crore. Face value per share is Re 1.

Shares of Mercator had gained 5.12% to settle at Rs 40 yesterday, 20 December 2016 boosted by the companys announcement that one of its vessels has secured a time charter contract of total value of about Rs 120 crore. The period of contract is four years (inclusive of charterers options) and the charter will commence from January 2017. The announcement was made during market hours yesterday, 20 December 2016.

Mercator reported net loss of Rs 27.05 crore in Q2 September 2016 compared with net profit of Rs 14.59 crore in Q2 September 2015. Net sales declined 19.58% to Rs 133.28 crore in Q2 September 2016 over Q2 September 2015.

Mercator group has business interests in coal, oil & gas, shipping and dredging.

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Aban Offshore gains on bargain hunting
Dec 21,2016

Meanwhile, the BSE Sensex was down 75.97 points, or 0.29%, to 26,232.01.

On the BSE, so far 5.57 lakh shares were traded in the counter, compared with average daily volumes of 5.64 lakh shares in the past one quarter. The stock had hit a high of Rs 243.80 and a low of Rs 233.60 so far during the day.

The stock hit a 52-week high of Rs 286 on 25 October 2016. The stock hit a 52-week low of Rs 142.50 on 12 February 2016. The stock had outperformed the market over the past 30 days till 20 December 2016, rising 15.34% compared with the 2.11% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 12.51% as against Sensexs 7.72% decline.

The small-cap company has equity capital of Rs 11.67 crore. Face value per share is Rs 2.

Shares of Aban Offshore fell 10.86% in six trading sessions to settle at Rs 233.40 yesterday, 20 December 2016, from its close of Rs 261.85 on 12 December 2016.

On a consolidated basis, Aban Offshore reported net loss of Rs 274.74 crore in Q2 September 2016 as against net profit of Rs 59.56 crore in Q2 September 2015. Net sales declined 59.70% to Rs 399.01 crore in Q2 September 2016 over Q2 September 2015.

Aban Offshore owns and operates several offshore drilling rigs, drill ships, and a floating production facility.

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Board of Prithvi Softech accepts resignation of director
Dec 21,2016

Prithvi Softech announced that the Board of Directors of the Company on the meeting held on 20 December 2016 has taken on record the resignation of Ashok Kumar Delichand from the post of managing director with effect from 01 January 2017. However, he will continue as director of the Company.

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Shree Pushkar Chemicals & Fertilizers announces resignation of director
Dec 21,2016

Shree Pushkar Chemicals & Fertilizers announced that in consequence of withdrawal of nomination by IFCI Venture Capital Funds; Poonam Garg has tendered her resignation letter to the Company from their Directorship in the Company.

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Jeevan Scientific Technologys Clinical Pharmacology Centre gets approved by DCGI
Dec 21,2016

Jeevan Scientific Technology announced that the Companys Clinical Pharmacology Centre to conduct Bioavailability/Bioequivalence studies has been approved by the n++Office of Drug Control General, India (DCGI)n++ on 16 December 2016 for a period of Three (3) years.

This Centre having four independent clinics having a total capacity of 132 beds will facilitate end-to-end Bioequivalence studies by Jeevan Scientific Technology.

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