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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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Indian Metals & Ferro Alloys provides operations update
Feb 21,2017

Indian Metals & Ferro Alloys announced that Turbine No.1 was synchronised with the grid on 20 February 2017 after damage to peripheral areas was repaired and other necessary maintenance carried out. The Turbine No.2 had already been revived shortly after the incident itself.

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Murad Properties & Projects announces resignation of director
Feb 21,2017

Murad Properties & Projects announced that Mukund Mahendrakumar Shaha has been resigned from directorship of the Company w.e.f. 21 February 2017.

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India Ratings Maintains Negative Outlook on Infrastructure Sector for FY18
Feb 21,2017

India Ratings and Research (Ind-Ra) has maintained a negative outlook on the infrastructure sector for FY18, albeit with revised outlooks for a couple of sub-sectors.

The increase in receivables position of wind power plants limited the headroom available to handle low wind patterns; hence, Ind-Ra has revised wind energys outlook to negative for FY18 from stable for FY17. With little improvements in the issues facing the toll roads sector (low inflation, slower ramp up, lower toll rate growth) and coal-based thermal power (demand-supply mismatch, increased thrust on renewables), Ind-Ra continues with its negative outlook on these two sectors. Favourable policy actions and strong passenger growth drive the outlook revision to positive for airports for FY18 from stable, while other subsectors (solar, ports, transmission) have been maintained on a stable outlook on the back of performances largely in line with Ind-Ras expectations.

Roads: Ind-Ra has maintained a negative outlook on toll roads for FY18, on the expectation of sluggish traffic growth compounded by a subdued Wholesale Price Index. Ind-Ras analysis reveals the vulnerability of projects, especially the ones with a short operational track record (less than three years), to a 200bp reduction in base case growth rates, which would lead to impairment in debt serviceability. Road developers have found a penchant for infrastructure Investment Trusts (InvITs) - 75% of the InvITs in the listing stage are from the highway sector. Though prima facie traction in InvITs seems positive, the actual trimming of debt to the desired levels would be clear by 1HFY18, and discord over valuation may be a major stumbling block for InvITs. The pace of financial closures under the hybrid annuity model is marred, due to low termination payments and less equity contributions; consequently, lenders exercise caution before lending.

Thermal Power: The negative outlook on thermal power is mainly due to suboptimal plant load factors, lack of interest for long-term power purchase agreements which has been compounded by low priority in power scheduling, and added uncertainty in awarding compensatory tariffs. Slow demand growth and abundant options for state distribution companies to tap into short-term market for meeting any temporary demand spikes have led to the lack of interest for long-term power purchase agreements. Although steps have been taken at the policy level by the introduction of measures such as Ujwal Discom Assurance Yojana, Ind-Ra believes that reliance on state distribution companies errant payment cycle places issuers at a disadvantage for tapping capital markets.

Solar Power: Ind-Ra maintains a stable outlook for the solar power sector on the back of a stable performance, predictable nature of cash flows based on long-term power purchase agreements, decreasing panel prices, favourable debtor days, albeit with a limited operational track record. Ind-Ra believes that a combination of evolving payment security mechanism (such as creation of a payment security fund and state government guarantee) and a fall in panel prices (November 2017 yoy about 28%) will not only reduce the funding costs but also drive low solar tariffs.

Availability-based Assets: Ind-Ra has maintained a stable outlook on availability-based assets, both annuity and transmission projects, primarily on the back of strong counterparty credit profiles and demonstrated records of timely receipts of availability payments. Most of the annuity-based road projects and transmission assets continue to demonstrated availability in line with empirical evidence, reiterating Ind-Ras expectation of above normative level availability in case of transmission assets.

Airports: Despite global macroeconomic headwinds, the airport sector recorded yet another year of a robust traffic throughput and was aided by government measures, resulting in the revision of the sectors outlook to positive for FY18. With better-than-expected improvement in throughput levels, the capex plans of couple of airports are likely to be advanced. Delay in real estate monetisation continues to be an overhang on the Mumbai and Delhi airports. However, strong growth in aero-related revenues has negated the possible impact on revenues. Airports are well poised to refinance their debt and the agency expects issuances with elongated tenors and bullet repayments.

Seaports: The outlook for seaports is maintained at stable for FY18, due to continued throughput volumes growth in line with overall economic growth. Most of the major ports recorded year-on-year growth in traffic and there were no surprises in the top commodities traded across ports compared to the previous year.

OUTLOOK SENSITIVITIES

A reduction in interest rates and the stability of the Indian rupee can help ease the overall pressure on projects cash flow while a pick-up in economic activity will have a salutary effect on traffic volumes and energy demand, leading to portfolio-wide increases in coverage metrics.

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Bharti Infratel leads losers in BSEs A group
Feb 21,2017

Bharti Infratel slumped 3.81% at Rs 297 at 13:33 IST. The stock topped the losers in A group. On the BSE, 11.77 lakh shares were traded on the counter so far as against the average daily volumes of 1.99 lakh shares in the past two weeks.

Max Financial Services slipped 3.63% at Rs 571.75. The stock was the second biggest loser in A group. On the BSE, 11.91 lakh shares were traded on the counter so far as against the average daily volumes of 40,000 shares in the past two weeks.

Shree Renuka Sugars skid 2.75% at Rs 15.90. The stock was the third biggest loser in A group. On the BSE, 3.21 lakh shares were traded on the counter so far as against the average daily volumes of 11.53 lakh shares in the past two weeks.

Balrampur Chini Mills declined 2.7% at Rs 153.40. The stock was the fourth biggest loser in A group. On the BSE, 69,000 shares were traded on the counter so far as against the average daily volumes of 1.27 lakh shares in the past two weeks.

IL&FS Transportation Networks fell 2.62% at Rs 102.25. The stock was the fifth biggest loser in A group. On the BSE, 57,000 shares were traded on the counter so far as against the average daily volumes of 1.04 lakh shares in the past two weeks.

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Maruti Suzuki provides update on its CSR initiative
Feb 21,2017

Maruti Suzuki India inaugurated a water ATM in Bas Hariya village in Manesar. With this fourth community drinking water plant in Manesar, the Company will be generating and supplying a total of 96,000 liters of pure drinking water benefitting over 7000 households. Earlier, the Company has set up three water ATMs in Kasan, Dhana and Bas Khusla villages of Mensar.

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Bajaj Electricals renews trademark licence agreement with Morphy Richards
Feb 21,2017

Bajaj Electricals has entered into a Trademark Licence Agreement with Morphy Richards of United Kingdom to renew the exclusive license for use of trademark Morphy Richards by the Company in relation to the products procured from the manufacturers and/or imported from any other country for marketing the same in India and other countries, for a further period of five (5) years from 25 April 2017, on payment of royalty.

The Company has been procuring the products from the manufacturers and/or importing from any other country for marketing the same in India under the License User Agreement since April 2002 and has established the brand well in the premium segment. With the renewal of license, the Company would be able to leverage its brand positioning in Indian markets as well as SAARC countries to further consolidate and gain a considerable market share.

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REC jumps after signing MoU with JUSNL, JBVNL
Feb 21,2017

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

Meanwhile, the BSE Sensex was down 36.31 points, or 0.13%, to 28,625.27.

On the BSE, so far 6.91 lakh shares were traded in the counter, compared with average daily volumes of 5.03 lakh shares in the past one quarter. The stock hit a high of Rs 156.10 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 152 so far during the day. The stock hit a 52-week low of Rs 76.25 on 24 February 2016.

The large-cap company has equity capital of Rs 1974.92 crore. Face value per share is Rs 10.

Rural Electrification Corporation (REC) said it has entered into memorandums of understanding (MoUs) with Jharkhand Bijli Vitran Nigam (JBVNL) and Jharkhand Urja Sancharan Nigam (JUSNL) for extending financial assistance to the tune of Rs 15150 crore. REC will extend financial assistance upto Rs 8150 crore to JBVNL and upto Rs 7000 crore to JUSNL.

RECs net profit rose 28.1% to Rs 1754.40 crore on 2% decline in operating income to Rs 5884.24 crore in Q3 December 2016 over Q3 December 2015.

REC, a Navratna Central Public Sector Enterprise under Ministry of Power, provides financial assistance to state electricity boards, state government departments and rural electric co-operatives for rural electrification projects.

The Government of India holds 60.637% stake in the company, as per the shareholding pattern as at 31 December 2016.

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Bajaj Electricals nudges higher after entering into trademark license pact with UK firm
Feb 21,2017

The announcement was made during market hours today, 21 February 2017.

Meanwhile, the S&P BSE Sensex was down 42.95 points or 0.15% at 28,618.63.

On the BSE, 33,000 shares were traded on the counter so far as against the average daily volumes of 35,071 shares in the past one quarter. The stock had hit a high of Rs 270 and a low of Rs 257 so far during the day.

The stock had hit a 52-week high of Rs 280 on 10 August 2016 and a 52-week low of Rs 155.35 on 29 February 2016. The stock had outperformed the market over the past one month till 20 February 2017, advancing 13.44% compared with the Sensexs 6.02% rise. The scrip had also outperformed the market over the past one quarter, gaining 20.27% as against the Sensexs 9.6% rise.

The small-cap company has equity capital of Rs 20.24 crore. Face value per share is Rs 2.

Bajaj Electricals has entered into a trademark licence agreement with Morphy Richards of United Kingdom to renew the exclusive license for use of trademark Morphy Richards by the company in relation to the products procured from the manufacturers and imported from any other country for marketing the same in India and other countries, for a further period of five years from 25 April 2017, on payment of royalty.

Bajaj Electricals has been procuring the products from the manufacturers and importing from any other country for marketing the same in India under the License User Agreement since April 2002 and has established the brand well in the premium segment. With the renewal of license, the company would be able to leverage its brand positioning in Indian markets as well as SAARC countries to further consolidate and gain a considerable market share.

Bajaj Electricals net profit fell 17.5% to Rs 29.71 crore on 6.9% decline in net sales to Rs 1046.45 crore in Q3 December 2016 over Q3 December 2015.

Bajaj Electricals has a diversified business viz - consumer products (appliances, fans, lighting), exports, luminaires and EPC (illumination, transmission towers and power distribution).

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Volumes jump at Kajaria Ceramics counter
Feb 21,2017

Kajaria Ceramics clocked volume of 7.11 lakh shares by 12:38 IST on BSE, a 96.63-times surge over two-week average daily volume of 7,000 shares. The stock rose 2.72% to Rs 575.90.

Max Financial Services notched up volume of 11.57 lakh shares, a 29.20-fold surge over two-week average daily volume of 40,000 shares. The stock fell 3.27% to Rs 573.90.

Sanofi India saw volume of 25,000 shares, a 16.70-fold surge over two-week average daily volume of 1,000 shares. The stock fell 0.71% to Rs 4,140.55.

Raymond clocked volume of 3.85 lakh shares, a 16.23-fold surge over two-week average daily volume of 24,000 shares. The stock rose 13.03% to Rs 568.45.

Dr Reddys Laboratories saw volume of 2.68 lakh shares, a 8.27-fold rise over two-week average daily volume of 32,000 shares. The stock rose 0.08% to Rs 2,906.10.

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Gammon India gains after board OKs selling stake in GIPL
Feb 21,2017

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

Meanwhile, the BSE Sensex was down 59.17 points, or 0.21%, to 28,602.41.

On the BSE, so far 2.89 lakh shares were traded in the counter, compared with average daily volumes of 96,984 shares in the past one quarter. The stock had hit a high of Rs 13.50 and a low of Rs 12.99 so far during the day.

The stock hit a 52-week high of Rs 20.60 on 6 September 2016. The stock hit a 52-week low of Rs 10.35 on 30 March 2016.

The small-cap company has equity capital of Rs 73.91 crore. Face value per share is Rs 2.

Gammon India said that its board in furtherance to the shareholders approval dated 20 May 2016 approving sale of upto 30% of equity shares of Gammon Infrastructure Projects (GIPL), held through its wholly-owned subsidiary Gammon Power (GPL), has permitted GPL to further sell/dispose off the balance 26.06% of the equity shares of GIPL at the market price, in one or more tranches. Further, the board has expressed its intention to acquire upto 20% of the said equity shares of GIPL from GPL at the market price in one or more tranches.

The said equity shares of GIPL have been currently pledged by GPL to the companys lenders as security for loans advanced to the company.

Gammon India reported net loss of Rs 20.53 crore in Q3 December 2016 as against net loss of Rs 119.06 crore in Q3 December 2015. Net sales declined 11.5% to Rs 714.66 crore in Q3 December 2016 over Q3 December 2015.

Gammon India is a civil engineering construction company.

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Nearly 10 lakh citizens get reward money over Rs.153.5 crore for embracing Digital Payments
Feb 21,2017

It has been 58 days since the launch of NITI Aayogs two incentive schemes - Lucky Grahak Yojana and Digi Dhan Vyapar Yojana to promote digital payments and the public response has been quite encouraging.

The initiative to make Digital Payments a mass movement in India through the two schemes has made a headway across the country with more and more people adopting digital transactions.

According to the latest figures released by the National Payments Corporation of India (NPCI), which has been executing the schemes, nearly 10 lakh consumers and merchants have been disbursed over Rs.153.5 crore as reward money till 20th February, 2017.

Highlights:

n++ Among the 9.8 lakh winners are more than 9.2 lakh consumers and 56,000 merchants.

n++ 120 consumers have won prize money worth Rs. 1 lakh each

n++ 4,000 merchants have won Rs. 50,000 prize money each

n++ Maharashtra, Tamil Nadu, Uttar Pradesh, Andhra Pradesh and Delhi have emerged as the top five states/ Union Territory(s) with maximum number of winners

n++ Active participation was seen among females and males across regions

n++ Winners belong to diverse socio-economic backgrounds, from farmers, merchants, small entrepreneurs, professionals, housewives, students to retired persons.

n++ While majority of the winners are in the age group of 21 to 30, a significant number are also above 60 years of age.

n++ The diversity in age of winners is from 15 to 66 years, challenging the notion that the old find it difficult to embrace technology to adopt digital payments.

The winners have their own stories to tell it all as to how the switch over to digital payments has been le and how it has made the life easier for them. Sabir, a 22-year-old cab driver from Delhi won Rs. 1,00,000 under Lucky GrahakYojana for consumers. Digital payments are a blessing in disguise for him because he has to take care of his mother and differently-abled sister after the demise of his father and doesnt have time to stand in lines at the bank. Bhim Singh, a 29-year-old wheat farmer from Hissar in Haryana and winner under this initiative, now uses digital payments for buying supplies from wholesalers. Jayanthi SF, from Coimbatore in Tamil Nadu, a 29-year-old engineering student and mother to a six-year-old, is a proud winner of Rs. 1,00,000 under the scheme.

Among the merchants, Damodar Prasad Khandelwal, a 42-year-old grocery store owner from Alwar in Rajasthan, won Rs. 50,000 in the weekly prize under Digi-DhanVyaparYojana for merchants. Manju R Gowda, a 32-year-old fast-food restaurant owner in Mumbai is another winner of Rs. 50,000 under this scheme.

An analysis of the reward data also reveals winners as belonging to a wide geographical cross-section, including rural and urban areas spread across every State.

NITI Aayog has been organizing DigiDhanMelas at 110 cities across India, beginning December 25th, 2016.. It will go on every day until April 14, 2017. Till date, 59 DigiDhanMelas have been organized to take the digital payments movement to the masses across the country.

Background:

NITI Aayog launched two schemes on December 25, 2016 - Lucky GrahakYojna (LGY) for consumers and Digi-DhanVyaparYojna (DVY) for merchants to incentivize them and promote digital payments. The two schemes shall remain open till April 14, 2017. There are 15,000 daily winners qualifying for total prize money of Rs. 1.5 crore. In additional to this there are over 14,000 weekly winners qualifying for total prize money of over Rs. 8.3 crore every week.

Customers and merchants using RuPay Card, BHIM / UPI (Bharat Interface for Money / Unified Payments Interface), USSD based *99# service and Aadhaar Enabled Payment Service (AePS) are eligible for wining daily and weekly lucky draw prizes.

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Burnpur Cement to launch new product - Pozolona Portland Cement
Feb 21,2017

Burnpur Cement announced that the management has decided to launch new product PPC (Pozolona Portland Cement) cement from the patratu plant of the Company by the 3rd week of April, 2017. After the production of PPC the capacity utilization of the plant will be 100% and the turnover of the Company will increase which is a positive impact on the financial condition of the Company.

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Epsom Properties announces change in compliance officer
Feb 21,2017

Epsom Properties announced that Dr. C. Sivakumar Reddy, Managing Director of the Company, has been appointed as Compliance Officer of the Company in terms of the Listing Agreement, in place of Kandala Bhakthavatsala Reddy.

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EID Parry (India) fixes record date interim dividend
Feb 21,2017

EID Parry (India) has fixed 06 March 2017 as the Record Date for the purpose of Payment of Interim Dividend.

Interim Dividend will be paid on or before 15 March 2017.

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Marksans Pharma rallies 25.86% in two sessions
Feb 21,2017

Meanwhile, the S&P BSE Sensex was down 15.97 points, or 0.06%, to 28,645.61.

High volumes were witnessed on the counter. On the BSE, 33.95 lakh shares were traded on the counter so far as against the average daily volumes of 5.02 lakh shares in the past one quarter. The stock had hit a high of Rs 52.40 and a low of Rs 49.30 so far during the day.

The stock had hit a 52-week high of Rs 58.30 on 6 October 2016 and a 52-week low of Rs 33.45 on 1 March 2016. The stock had outperformed the market over the past one month till 20 February 2017, advancing 23.92% compared with the Sensexs 6.02% rise. The scrip had also outperformed the market over the past one quarter advancing 13.92% as against the Sensexs 9.6% rise.

The small-cap company has equity capital of Rs 40.93 crore. Face value per share is Rs 1.

Shares of Marksans Pharma rallied 25.86% in two trading sessions from its close of Rs 40.60 on 17 February 2017, after the company announced during market hours yesterday, 20 February 2017 that its Goa plants inspection by UK MHRA from 14th February 2017 to 17 February 2017 was completed without any critical observations. The stock had rallied 19.95% to settle at Rs 48.70 yesterday, 20 February 2017 post announcement.

Marksans Pharmas consolidated net profit fell 37% to Rs 11.30 crore on 1% decrease in net sales to Rs 215.24 in Q3 December 2016 over Q3 December 2015.

Marksans Pharma is a global pharmaceutical company. It is engaged in research & development (R&D) and offers CRAMS (contract research and manufacturing services) to global pharmaceutical companies.

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