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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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Gillette India appoints company secretary and compliance officer
Nov 30,2016

Gillette India announced that Flavia Machado has been appointed as Company Secretary & Compliance Officer of the Company effective 30 November 2016.

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Board of India Home Loans to consider preferential issue of shares
Nov 30,2016

India Home Loans announced that a Board meeting has been scheduled on 2 December 2016 to consider the preferential issue and allotment of 29,11,755 equity shares of the Company to following investors - JM Financial Products, Chetan R Shah (HUF), Shailaja C Shah and Sonal M Shah.

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Board of Ovobel Foods appoints company secretary
Nov 30,2016

Ovobel Foods announced that the Board of Directors of the Company at its meeting held on 29 November 2016 has approved the appointment of Ritu Singh as Company Secretary and Compliance Officer with effect from 29 November 2016.

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GIC Estimates Size Of Non-Life Insurance Growing Five Times By 2026, Says Its Secretary General
Nov 30,2016

Secretary General, General Insurance Council, Mr. R Chandrasekaran forecast the size of non-life and liability insurance would grow five times by next decade as non-life and liability insurance is gradually growing a risk mitigation exercise in India.

Inaugurating a Seminar on Financial Risks & Liability Insurance : Current Scenario and Way forward organized by the PHD Chamber of Commerce and Industry, Mr. Chandrasekaran emphasized that with proper policy, ongoing innovations and regulations in place, the non-life and liability insurance which is currently estimated at a size of 3%, however, will stay put at this number for another 4-5 years and subsequently frogleap.

According to him, a great deal of public exercise and campaigning is called for to arise public awakening for larger participation of stakeholders in this non-life segment to enable it realize its latent potential.

Supportive regulations and policies are also needed for the growth of non-life insurance which would come about as this is what has happened for life insurance to pick up in India in the past, indicated Mr. Chandrasekaran and also urged the PHD Chamber to carry such conferences across other Tier-1 and Tier-2 cities of India.

In his opening remarks, Vice President, PHD Chamber, Mr. Anil Khaitan also hoped that with changing India, its liability and non-life insurance will also grow faster than anticipated as the Chamber is confident of its estimated growth and diversification.

Speaking on the occasion, Chairman, Insurance Committee of the Chamber, Mr. Yogesh Lohiya also exuded confidence saying that with skilling, digital and Make in India picking required pace, the non-life insurance sector is poised for higher growth. What is required is a massive campaign to promote this branch of insurance.

Managing Director, Nilam Sharma, Ms. Nilam Sharma in her presentation detailed out her perception on Directors and Officers relating to non-life insurance and their role to diversify and expand this sector.

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Sarda Energy & Minerals spurts after restarting mining operations
Nov 30,2016

The announcement was made after trading hours yesterday, 30 November 2016.

Meanwhile, the BSE Sensex was up 92.11 points, or 0.35%, to 26,486.12.

On BSE, so far 59,000 shares were traded in the counter, compared with average daily volume of 86,198 shares in the past one quarter. The stock hit a high of Rs 256.65 and a low of Rs 235.50 so far during the day. The stock hit a 52-week high of Rs 296.60 on 1 November 2016. The stock hit a 52-week low of Rs 75.50 on 26 February 2016. The stock had underperformed the market over the past 30 days till 29 November 2016, falling 15.83% compared with the 5.50% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 33.55% as against Sensexs 7.23% decline.

The small-cap company has equity capital of Rs 36.02 crore. Face value per share is Rs 10.

On 9 March 2016, Sarda Energy & Minerals announced temporary suspension of operation at its iron ore mine in Dongarbore (Chhattisgarh) after a naxalite attack on 7 March 2016, which caused death of one employee and damage of a few vehicles.

Net profit of Sarda Energy & Minerals rose 250.3% to Rs 12.54 crore on 2.7% decline in net sales to Rs 253 crore in Q2 September 2016 over Q2 September 2015.

Sarda Energy & Minerals (SEML) is one of the lowest cost producers of steel (sponge iron, billets, ingots, TMT bars) and one of the largest manufacturers and exporters of ferro alloys in India.

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Vivimed Labs spurts after unit successfully completes USFDA inspection
Nov 30,2016

The announcement was made after market hours yesterday, 29 November 2016.

Meanwhile, the S&P BSE Sensex was up 78.36 points or 0.3% at 26,472.37.

On the BSE, 3.78 lakh shares were traded on the counter so far as against the average daily volumes of 2.89 lakh shares in the past one quarter. The stock had hit a high of Rs 107.40 and a low of Rs 102 so far during the day. The stock had hit a record high of Rs 121.15 on 4 October 2016. The stock had hit a 52-week low of Rs 68 on 9 August 2016. The stock had underperformed the market over the past one month till 29 November 2016, declining 13.97% compared with the Sensexs 5.54% fall. The scrip had, however, outperformed the market in past one quarter, advancing 24.63% as against the Sensexs 5.41% fall.

The large-cap company has equity capital of Rs 16.20 crore. Face value per share is Rs 2.

The audit was conducted during the last week of November and concluded on 28 November 2016. Furthermore, Vivimed obtained abbreviated new drug application (ANDA) approval for Metronidazole and same is commercialised. During November 2016, the company acquired ANDA of Zolpidem and the file transfer has successfully been completed. It is expected to be commercialised by Q4 March 2017.

Vivimed is on track of its filing targets and has successfully completed 3 ANDA filings during the current financial year and expect one more filing to be completed by Q4 March 2017. These products provide vertical integration with the in-house active pharmaceutical ingredients (APIs).

Santosh Varalwar, Managing Director of Vivimed Labs, said the company is on track with its filings pipeline which are expected to bear fruits when these products start to commercialise over the next 18-24 months.

On a consolidated basis, Vivimed Labs net profit rose 12.4% to Rs 26.85 crore on 11.5% decline in net sales to Rs 298.36 crore in Q2 September 2016 over Q2 September 2015.

Vivimed Labs is a niche specialty chemicals and pharmaceuticals company.

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Lupin gains after receiving USFDA approval for Armodafinil tablets
Nov 30,2016

The announcement was made after market hours yesterday, 29 November 2016.

Meanwhile, the BSE Sensex was up 67.23 points, or 0.25%, to 26,461.24.

On BSE, so far 25,000 shares were traded in the counter, compared with average daily volume of 99,927 shares in the past one quarter. The stock hit a high of Rs 1,545.55 and a low of Rs 1,526.90 so far during the day. The stock hit a 52-week high of Rs 1,911.55 on 9 February 2016. The stock hit a 52-week low of Rs 1,294.05 on 29 March 2016. The stock had outperformed the market over the past 30 days till 29 November 2016, falling 0.06% compared with the 5.50% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 2.25% as against Sensexs 7.23% decline.

The large-cap company has equity capital of Rs 90.27 crore. Face value per share is Rs 2.

Lupin announced that its US subsidiary Lupin Pharmaceuticals Inc (LPI) has received final approval from the United States Food and Drug Administration (USFDA) to market Armodafinil tablets 50mg, 150mg, 200mg and 250mg. LPI shall commence promoting the product in the US shortly. Lupins Armodafinil tablets are the AB rated generic equivalents of Cephalon, Incs Nuvigil tablets. Armodafinil tablets are indicated to improve wakefulness in adult patients with excessive sleepiness associated with obstructive sleep apnea (OSA), narcolepsy or shift work disorder (SWD). Nuvigil tablets had annual US sales of $515.6 million as per IMS MAT September 2016 data.

Lupins consolidated net profit jumped 57.8% to Rs 662.19 crore on 31.9% rise in net sales to Rs 4211.18 crore in Q2 September 2016 over Q2 September 2015.

Lupin is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally. The company is a significant player in the cardiovascular, diabetology, asthma, pediatric, central nervous system (CNS), GI, Anti-Infective and NSAID space and holds global leadership position in the Anti-TB segment.

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Tamil Nadu Newsprint & Papers standalone net profit rises 18.56% in the September 2016 quarter
Nov 30,2016

Net profit of Tamil Nadu Newsprint & Papers rose 18.56% to Rs 70.58 crore in the quarter ended September 2016 as against Rs 59.53 crore during the previous quarter ended September 2015. Sales rose 22.48% to Rs 667.05 crore in the quarter ended September 2016 as against Rs 544.63 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales667.05544.63 22 OPM %26.4525.34 - PBDT132.38110.90 19 PBT79.5176.42 4 NP70.5859.53 19

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Wanbury reports standalone net profit of Rs 7.07 crore in the September 2016 quarter
Nov 30,2016

Net profit of Wanbury reported to Rs 7.07 crore in the quarter ended September 2016 as against net loss of Rs 2.44 crore during the previous quarter ended September 2015. Sales rose 14.43% to Rs 120.86 crore in the quarter ended September 2016 as against Rs 105.62 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales120.86105.62 14 OPM %10.018.91 - PBDT9.45-0.21 LP PBT7.07-2.44 LP NP7.07-2.44 LP

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Government takes various steps to check prices of pulses
Nov 30,2016

In the Report of the Working Group on Foodgrains-Balancing Demand and Supply for the 12th Five Year Plan, the estimated demand of pulses in the year 2014-15, 2015-16 and 2016-17 are 22.68 MMT, 23.62 MMT and 24.61 MMT respectively. steps taken by the Government to reduce the prices of pulses are given below.

n++ Export of all pulses is banned except kabuli channa and up to 10,000 MTs in organic pulses and lentils.

n++ Import of pulses are allowed at zero import duty.

n++ Stock limit on pulses extended till 30.9.2017.

n++ MSP raised for kharif pulses of 2016-17 for Tur, Urad and Moong as well as for Rabi pulses of Gram and Masoor for season 2016-17.

n++ Government has approved creation of buffer stock of pulses for effective market intervention. Buffer of around 6.18 lakh MT of pulses has already been procured out of the target of 20 lakh tonnes.

n++ Government has released around 38,974 MT of pulses from the buffer stock (consisting of Tur and Urad) to States/UTs at subsidized rates for retailing by them at not more than Rs 120/- per kg to improve availability and stabilize prices. In addition, 6884 MT of Chana has been allocated to states at subsidized rate for retailing.

n++ Securities & Exchange Board of India (SEBI) has banned new contracts in Chana to dampen speculative activities in Chana and in respect of running contracts in Chana disallowed taking fresh positions to reduce speculative activities.

n++ Strict vigilance by Directorate of Revenue Intelligence to prevent importers from mis-using the facilities of Customs Bonded Warehouse facility.

n++ Setting up of a Group of Officers for regular monitoring and exchange of information on hoarding, cartelization etc.

n++ About 1.40 lakh tonnes pf pulses seized from 14612 raids and disposed of 1.28 lakh tonnes either by auction or other means permitted under EC Act, 1955.

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Tata Power witnesses initial volatility post impressive Q2 numbers
Nov 30,2016

Meanwhile, the S&P BSE Sensex was up 70.19 points or 0.27% at 26,464.20.

On the BSE, 1.34 lakh shares were traded on the counter so far as against average daily volume of 4.82 lakh shares in the past one quarter. The stock had hit a high of Rs 72.75 and a low of Rs 71.05 so far during the day. The stock had hit a 52-week high of Rs 84.45 on 24 October 2016. The stock had hit a 52-week low of Rs 55 on 12 February 2016. The stock had underperformed the market over the past one month till 29 November 2016, declining 7.97% compared with the Sensexs 5.54% fall. The scrip had, however, outperformed the market in past one quarter, sliding 4.87% as against the Sensexs 5.41% fall.

The large-cap company has equity capital of Rs 270.46 crore. Face value per share is Rs 270.46.

Tata Power Company (Tata Power) reported consolidated net profit of Rs 336 crore in Q2 September 2016, compared with net loss of Rs 96 crore in Q2 September 2015. Consolidated total income from operations declined 5.96% to Rs 7209 crore in Q2 September 2016 over Q2 September 2015, due to lower revenue at standalone level due to lower fuel cost & lower power purchase, lower million units (MUs) traded at Tata Power Trading Company (TPTCL).

The company reported a turnaround in bottom line in Q2 September 2016 vis-n++-vis corresponding previous quarter mainly due to lower mark-to-market (MTM) losses at Coastal Gujarat Power (CGPL) and better performance by key Indian subsidiaries and Indonesian coal mines.

Tata Powers CEO & Managing Director Anil Sardana said, the company has improved profitability and has maintained strong operational performance across all business verticals. The companys subsidiaries continue to perform well despite challenging circumstances. Management is confident that the companys strong growth trajectory will continue into the next quarter, Sardana said.

Tata Powers 100% subsidiaries viz. Bhira Investments nd Bhivpuri Investments (selling companies) had signed an agreement for sale and purchase of shares on 30 January 2014, to sell its 30% stake in PT Arutmin, Indonesia and associated trading and infrastructure companies for an aggregate consideration of $510 million. Consequent to certain closing adjustments to the sale consideration and other changes agreed between the parties, the selling companies have signed revised definitive agreements with PT Cakrawala Langit Sejahtera (PT CLS) a Bakrie group entity on 28 November 2016.

The sale consideration for PT Arutmin is now revised to $246.64 million from the earlier value of $390 million, pursuant to closing adjustments relating to certain prior period liabilities, which includes settlement of past claims with mining contractor, pursuant to a court order (about $80 million as companys share) and other statutory liabilities (about $50 million.). The consideration is expected to be received in a phased manner over next few years.

With regard to the infrastructure company PT Mitratama Perkasa (PTMP), in which PT Sumber Energi Andalan Tbk (Sumber) holds Tata Powers 30% equity; and Trust Energy Resources Pte, a 100% subsidiary of the company (Trust Energy) which holds Sumber, has entered into an agreement with Rwood Resources, a Bakrie Group Entity, for divestment of 94.61% stake in Sumber. The sale consideration for Infrastructure companies is now revised to $154.28 million from the earlier value of $120 million, pursuant to closing adjustments relating to prior period. The consideration is expected to be received in a phased manner over next few years.

Meanwhile, Tata Powers board decided to convene an extraordinary general meeting of the shareholders of the company on 26 December 2016, for considering and passing a resolution for removal of Cyrus P. Mistry as director of the company.

Tata Power is Indias largest integrated power company with a growing international presence. The company together with its subsidiaries and jointly controlled entities has an installed gross generation capacity of 10,477 megawatts (MW) and a presence in all the segments of the power sector viz. fuel security and logistics, generation, transmission, distribution and trading.

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Tata Power provides update on sale of 30% stake held by its subsidiaries in PT Arutmin, Indonesia
Nov 30,2016

Tata Power Company announced that the Companys 100% Subsidiaries viz. Bhira Investments and Bhivpuri Investments (Selling Companies) had signed an agreement for sale and purchase of shares on 30 January 2014 to sell its 30% stake in PT Arutmin, Indonesia and associated trading and infrastructure companies for an aggregate consideration of USD 510 million.

Consequent to certain closing adjustments to the sale consideration and other changes agreed between the parties, the Selling Companies have signed revised definitive agreements with PT Cakrawala Langit Sejahtera (PT CLS) a Bakrie group entity on 28 November 2016.

The sale consideration for PT Arutmin is now revised to USD 246.64 million from the earlier value of USD 390 million, pursuant to closing adjustments relating to certain prior period liabilities, which includes settlement of past claims with Mining Contractor, pursuant to a court order (about USD 80 million as Companys share) and Other Statutory liabilities (about 50 USD million). The consideration is expected to be received in a phased manner over next few years.

With regard to the infrastructure company PT Mitratama Perkasa (PTMP), in which PT Sumber Energi Andalan Tbk (Sumber) holds Companys 30% equity; and Trust Energy Resources Pte. Limited, a 100% subsidiary of the Company (Trust Energy) which holds Sumber, has entered into an agreement with Rwood Resources Ltd., a Bakrie Group Entity, for divestment of 94.61% stake in Sumber. The sale consideration for Infrastructure companies is now revised to USD 154.28 million from the earlier value of USD 120 million pursuant to closing adjustments relating to prior period. The consideration is expected to be received in a phased manner over next few years.

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Haryana Financial Corporation reports standalone net loss of Rs 0.29 crore in the September 2016 quarter
Nov 30,2016

Net Loss of Haryana Financial Corporation reported to Rs 0.29 crore in the quarter ended September 2016 as against net loss of Rs 0.74 crore during the previous quarter ended September 2015. Sales rose 20.69% to Rs 0.70 crore in the quarter ended September 2016 as against Rs 0.58 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.700.58 21 OPM %-125.71-274.14 - PBDT-0.20-0.65 69 PBT-0.29-0.74 61 NP-0.29-0.74 61

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Kanoria Chemicals & Industries standalone net profit declines 32.09% in the September 2016 quarter
Nov 30,2016

Net profit of Kanoria Chemicals & Industries declined 32.09% to Rs 3.47 crore in the quarter ended September 2016 as against Rs 5.11 crore during the previous quarter ended September 2015. Sales declined 8.17% to Rs 64.14 crore in the quarter ended September 2016 as against Rs 69.85 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales64.1469.85 -8 OPM %8.149.71 - PBDT10.1510.45 -3 PBT5.255.96 -12 NP3.475.11 -32

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Tata Power Company standalone net profit rises 25.60% in the September 2016 quarter
Nov 30,2016

Net profit of Tata Power Company rose 25.60% to Rs 447.34 crore in the quarter ended September 2016 as against Rs 356.16 crore during the previous quarter ended September 2015. Sales declined 26.65% to Rs 1330.84 crore in the quarter ended September 2016 as against Rs 1814.33 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales1330.841814.33 -27 OPM %41.1435.29 - PBDT780.33628.92 24 PBT622.46478.57 30 NP447.34356.16 26

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