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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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Bharat Petroleum Corporation appoints director
Apr 26,2017

Bharat Petroleum Corporation announced that the Board of Directors of the Company at its meeting held on 26 April 2017 approved the appointment of K. Sivakumar as Additional Director & Director (Finance), for a period of five years with effect from the date of his assumption of charge of the post on or after 1 May 2017, or till the date of his superannuation or until further orders, whichever is earliest. On his appointment as Director (Finance), he will be acting as Chief Financial Officer of the Company

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Centre giving priority to agriculture sector by allocating maximum funds for the farmers welfare: Agriculture Minister
Apr 26,2017

The Union Minister for Agriculture and Farmers Welfare Shri Radha Mohan Singh said that the central government is giving priority to agriculture sector by allocating maximum funds for the farmers welfare. Shri Singh said that the government aims at increasing the agriculture production, determining productivity and boosting dairy/livestock/fisheries while promoting agriculture education, research and extension organisation.

Shri Singh said that to achieve Prime Minister Narendra Modis target of doubling farmers income by 2022, Agriculture Ministry has written letters to the state governments urging them to strategise and work on it. Agriculture Minister said that while strategising, the state governments will have to closely monitor agricultural production and agricultural products processing activities.

Shri Singh said that the government has launched various schemes for the farmers. Pradhan Mantri Krishi Sinchayee Yojana, Pradhan Mantri Fasal Bima Yojana, Soil Health Management, Paramparagat Krishi Vikas Yojana, E-Nam, Agroforestry (Medh Par Ped) and Neem coated Urea to name a few. To increase milk production, National Dairy Mission was initiated. Blue Revolution is emphasising on inland fisheries and deep sea fishing. The schemes aim to increase the agricultural productivity and improve farmers income.

Union Minister said that for the success of schemes, we will have to work together with dedication and sincerity. Shri Singh further informed that this years growth rate for the agriculture and allied sectors was about 4 percent.

For the welfare of agriculture sector, the Agriculture and Farmers Welfare Ministry has converted all its schemes into special missions, schemes and programmes. With joint efforts of all stakeholders, the 2nd advance estimates predict about 271.98 MT production of food grain, which is 8.11 percent higher as compared to the year 2015-16. Shri Singh also said that the production of the foodgrains is 5.82 percent more than the last five years average production. There was a record foodgrains production in 2013-14, however, this years yield was 2.61 percent higher as compared to 2013-14.

Agriculture Minister said that the farmers have started reaping the benefit of the schemes initiated by the department of Agriculture Cooperation & Farmers Welfare. The schemes include National Food Security Mission (NFSM), National Horticulture Mission (NHM), Rashtriya Krishi Vikas Yojana (RKVY), and Total Direct Benefit Transfer (DBT).

Shri Singh said that the National Food Security Mission (NFSM), one of the most important schemes of the agriculture ministry covers rice, wheat, pulses, cereals and other main crops. Before the current government came to the power, NFSM was being implemented in 482 districts of 19 states. When the NDA government came to the power, the implementation of NFSM was extended to 638 districts of 29 states. Apart from that, 2.70 lakh hectare area is being used for organic farming. While ensuring the overall growth of agriculture and allied sectors, Rashtriya Krishi Vikas Yojana or RKVYs aims at achieving annual growth and maintaining the same during the 12th Plan.

Agriculture Minister said that the Ministry is focusing on the production and productivity of oilseeds and equal attention is also being given to the fruits, vegetables and horticulture. The government is also focusing on quality and availability of seeds. Apart from that national seed mission has been initiated under the scheme grants will be given for seed processing, seed storage, improving the quality of seeds and storing of seeds for the emergency.

Shri Singh said that the government is trying to safeguard farmers interest by announcing a minimum support price for main agricultural commodities. The thrust of the policy is to create a balanced and integrated structure to meet the overall needs of the economy. To support the prices, central nodal agencies such as FCI, CCI, JCI, NAFED, SFAC etc. start procurement process to ensure that the market price doesnt slip below the MSP fixed by the government. In case the market price of the commodity falls below the announced minimum price, govt agencies intervenes under Market Intervention Scheme (MIS) and procures the entire quantity offered by the farmers at the announced minimum price. During the period of 2014-15 to 2016-17, Indian government procured chilli, apple, ginger, potato, oil palm, grapes, onion betelnut, etc from the farmers of Uttar Pradesh, Andhra Pradesh, Karnataka, Telangana, Tamil Nadu, Arunachal Pradesh, Himachal Pradesh, Mizoram and Nagaland. Any sharp rise or fall in prices not only causes harm to consumers but farmers too. To mitigate volatility in the prices of agricultural produce, a Price Stabilisation Fund of Rs.500 Crore for agricultural commodities was announced, which has been now increased to Rs.1500 crore. To control the rising pulses price, 40,000 metric tonne pulses have been distributed to the states at their behest and meanwhile, the government is creating a buffer stock of 20 lakh metric tonne pulses. Simultaneously government is procuring 20,000 metric tonne onion for buffer stock.

Shri Singh also said that the Kharif season is around the corner, therefore, it is imperative for the state governments to make plans to procure high-quality seeds of several types of crops and fertilisers for the farmers. The state governments should ensure that there is no scarcity of inputs during the cropping season.

To ensure that the farmers avail the benefits of Fasal Bima Yojana, the government launched Pradhan Mantri Fasal Bima Yojana from 2016 Kharif season after improvising the earlier insurance scheme. The insurance is vast and covers the pre-sowing to post-harvest losses. For soil health, the government has started Soil Health Card scheme. To promote organic farming, Paramparagat Krishi Vikas Yojana has been launched. To increase farmers income, the government is also focusing on agroforestry and bee-keeping.

Shri Radha Mohan Singh has urged all the ministers to make efforts for the smooth and timely implementation of all the schemes so that the farmers get the funds on time to start their work. Shri Singh also stressed on transparency in governance.

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KSB Pumps declines after weak Q1 results
Apr 26,2017

The result was announced during market hours today, 26 April 2017.

Meanwhile, the S&P BSE Sensex was up 217.66 points or 0.73% at 30,160.90. The S&P BSE Small-Cap index was down 82.69 points or 0.54% at 15,297.20.

On the BSE, 8,343 shares were traded on the counter so far as against the average daily volumes of 2,588 shares in the past one quarter. The stock had hit a high of Rs 738 and a low of Rs 686.90 so far during the day.

The stock had hit a 52-week high of Rs 767.95 on 11 July 2016 and a 52-week low of Rs 549.90 on 26 October 2016. It had outperformed the market over the past one month till 25 April 2017, surging 14.88% compared with the Sensexs 1.77% rise. The scrip had also outperformed the market over the past one quarter, gaining 13.99% as against the Sensexs 8.07% rise.

The small-cap company has equity capital of Rs 34.81 crore. Face value per share is Rs 10.

KSB Pumps manufactures pumps and valves. The company supplies its products to customers from industry and building services, OEMs, the energy industry, mining and the public sector, power plants, process engineering etc.

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MSR India moves up after winning order
Apr 26,2017

The announcement was made during market hours today, 26 April 2017.

Meanwhile, the S&P BSE Sensex was up 42.33 points, or 0.14%, to 29,985.37. The S&P BSE Small-Cap index was down 171.50 points, or 1.12%, to 15,208.39.

On the BSE, 34,309 shares were traded in the counter so far, compared with average daily volumes of 73,416 shares in the past one quarter. The stock had hit a high of Rs 41 and a low of Rs 38.65 so far during the day.

The stock had hit a 52-week high of Rs 148 on 29 April 2016. The stock had hit a 52-week low of Rs 28.20 on 13 April 2017.

It had outperformed the market over the past one month till 25 April 2017, gaining 5.19% compared with the Sensexs 1.77% rise. The scrip had also outperformed the market over the past one quarter, rising 10.18% as against the Sensexs 8.07% rise.

The small-cap company has equity capital of Rs 31.44 crore. Face value per share is Rs 5.

Net profit of MSR India jumped 212.5% to Rs 0.75 on 49.5% drop in net sales to Rs 22.87 crore in Q3 December 2016 over Q3 December 2015.

MSR Indias product portfolio consists of copper bottles, ready-to-eat energy powder, FMCG products, extrusion and forging products. The company makes special purpose components for aerospace & defense industry.

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Establishment of Spices Farmers Producer Companies (SFPCs) in Arunachal Pradesh
Apr 26,2017

The Commerce and Industry Minister Nirmala Sitharaman is setting up spices farmers producer companies (SFPCs) on pilot basis in Arunachal Pradesh to help small and marginal farmers get better prices for produce.

The objective of the programme is to operationalize SFPC on pilot basis in 3 districts viz. Ziro in Lower Subansiri District for large cardamom and Namsai in Namsai District for ginger in Arunachal Pradesh & West District in Sikkim for large cardamom for empowering the farmers, especially women farmers in the identified spices growing districts, for better price realization through post harvest management, primary processing, value addition, packing, aggregation, organic certification etc.

Each SFPC will have 500 farmers as members in a sub-division or district. The farmers will be identified on cluster basis in a village, taluk or district by forming Farmer Interest Group(FIGs), each consisting of 20 farmers. 25 such FIGs will be formed to establish a SFPC.

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M&M extends gains on brokerage upgrade
Apr 26,2017

Meanwhile, the S&P BSE Sensex was up 101.26 points or 0.34% at 30,044.50.

On the BSE, 1.86 lakh shares were traded on the counter so far as against the average daily volumes of 1.68 lakh shares in the past one quarter. The stock had hit a high of Rs 1,345 and a low of Rs 1,315.55 so far during the day.

The stock had hit a record high of Rs 1,508.80 on 9 August 2016 and a 52-week low of Rs 1,141.80 on 2 December 2016. It had outperformed the market over the past one month till 25 April 2017, advancing 2.48% compared with the Sensexs 1.77% rise. The scrip had, however, underperformed the market over the past one quarter, gaining 5.19% as against the Sensexs 8.07% rise.

The large-cap company has equity capital of Rs 310.55 crore. Face value per share is Rs 5.

Shares of Mahindra & Mahindra (M&M) have risen 5.73% in two trading sessions from its closing of Rs 1,264.45 on 24 April 2017 in the aftermath of media reports that a foreign brokerage has upgraded the stock to outperform from neutral with increased target price. The stock had risen 3.4% to settle at Rs 1,307.50 yesterday, 25 April 2017.

As per reports, the brokerage has upgraded the M&M stock to outperform from neutral with increased target price at Rs 1,500 from Rs 1,390 earlier. The brokerage house cited potential for M&Ms tractor business that will surprise positively going ahead.

Reports suggested that the brokerage believes with number of state governments planning to introduce farm loan waivers, tractor demand could get further boost. The brokerage added that weakness in utility vehicle market already factored in by M&M.

M&M announced that Mahindra Overseas Investment Company (Mauritius) (MOICML), a wholly owned subsidiary of the company, has acquired 100% of the equity share capital of Mahindra Automotive North America Inc. (MANA) in USA.

In view of this, MANA has become a wholly owned subsidiary of MOICML and in turn, of the company with effect from 25 April 2017. The announcement was made after market hours yesterday, 25 April 2017.

M&Ms net profit rose 33.3% to Rs 1112.27 crore on 0.3% decline in net sales to Rs 10860.05 crore in Q3 December 2016 over Q3 December 2015.

M&M enjoys a leadership position in tractors and utility vehicles in India.

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FM : The Central Government has no plan to impose any tax on agriculture income
Apr 26,2017

The Finance Minister Arun Jaitley said the Central Government has no plan to impose any tax on agriculture income. As per the Constitutional Allocation of Powers, the Central Government has no jurisdiction to impose tax on agricultural income.

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NIIT Tech surges after winning client
Apr 26,2017

The announcement was made during market hours today, 26 April 2017.

Meanwhile, the S&P BSE Sensex was up 200.64 points, or 0.67%, to 30,143.88. The S&P BSE Mid-Cap index was up 28.86 points, or 0.2%, to 14,809.44.

High volumes were witnessed on the counter. On the BSE, 1.06 lakh shares were traded in the counter so far, compared with average daily volumes of 10,646 shares in the past one quarter. The stock had hit a high of Rs 470.55 and a low of Rs 430.15 so far during the day.

The stock had hit a 52-week high of Rs 587.60 on 15 June 2016. The stock had hit a 52-week low of Rs 370 on 9 November 2016.

It had outperformed the market over the past one month till 25 April 2017, gaining 3.66% compared with the Sensexs 1.77% rise. The scrip had, however, underperformed the market over the past one quarter, rising 0.2% as against the Sensexs 8.07% rise.

The mid-cap company has equity capital of Rs 61.36 crore. Face value per share is Rs 10.

Siam City Cement Public Company (SCCC), one of the leading cement manufacturers in Thailand has partnered with NIIT Technologies for building its future ready IT infrastructure. Supporting the digital transformation for SCCC, NIIT Technologies has designed, delivered and operating its private and public cloud infrastructure.

Future ready IT infrastructure developed by INSEE Digital is acting as the backbone infrastructure for the digital initiative at SCCC. It is now poised to leverage internet of things in fleet and fuel management and is in discussion with NIIT Tech on the feasibility to deploy robotic IT operations.

On a consolidated basis, NIIT Technologies net profit rose 9.73% to Rs 65.40 crore on 0.13% increase in net sales to Rs 692.20 crore in Q3 December 2016 over Q2 September 2016.

NIIT Technologies is a global IT solutions organization addressing the requirements of clients across the Americas, Europe, Asia, and Australia. The company services clients in travel and transportation, banking and financial services, insurance, manufacturing, and media verticals, offering a range of services, including application development and maintenance, infrastructure management, and business process management.

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Suzlon Energy provides product update
Apr 26,2017

Suzlon Energy announced that its revolutionary S111 120m 2.1 MW wind turbine generator has achieved 42% Plant Load Factor (PLF) in its first 12 months of operation at the Jamanwada site in Kutch district of Gujarat. The prototype was commissioned in March 2016.

The 42 percent PLF demonstrated by S111 120m is 20 percent higher than 35 percent PLF achieved by S97 120m in its first 12 months performance at the same location.

The S111 wind turbine generator is the latest addition to the 2.1 MW platform and features the time tested Doubly Fed Induction Generator (DFIG) technology.

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NIIT Technologies leads gainers in BSEs A group
Apr 26,2017

NIIT Technologies jumped 6.61% at Rs 464.80 at 13:45 IST on BSE. The stock topped the gainers in A group. On the BSE, 1.04 lakh shares were traded on the counter so far as against the average daily volumes of 9,784 shares in the past two weeks. The company during market hours today, 26 April 2017, announced collaboration of Siam City Cement with the company to build future ready IT infrastructure.

Mcleod Russel India surged 6.31% at Rs 192.20. The stock was the second biggest gainer in A group. On the BSE, 2.57 lakh shares were traded on the counter so far as against the average daily volumes of 40,000 shares in the past two weeks.

Balkrishna Industries gained 5.28% at Rs 1,545.05. The stock was the third biggest gainer in A group. On the BSE, 24,000 shares were traded on the counter so far as against the average daily volumes of 61,000 shares in the past two weeks.

Cummins India surged 5.08% at Rs 1,019. The stock was the fourth biggest gainer in A group. On the BSE, 45,000 shares were traded on the counter so far as against the average daily volumes of 24,000 shares in the past two weeks.

Intellect Design Arena rose 4.43% at Rs 130.80. The stock was the fifth biggest gainer in A group. On the BSE, 3.51 lakh shares were traded on the counter so far as against the average daily volumes of 1.3 lakh shares in the past two weeks.

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Gartner Survey Finds Government CIOs Spend 21 Percent of Their IT Budget on Digital Initiatives
Apr 26,2017

Top-performing organizations in the private and public sectors, on average, spend a greater proportion of their IT budgets on digital initiatives (33 percent) than government organizations (21 percent), according to a global survey of CIOs by Gartner, Inc. Looking forward to 2018, top-performing organizations anticipate spending 43 percent of their IT budgets on digitalization, compared with 28 percent for government CIOs.

Gartners 2017 CIO Agenda survey includes the views of 2,598 CIOs from 93 countries, representing US$9.4 trillion in revenue or public sector budgets and $292 billion in IT spending, including 377 government CIOs in 38 countries. Government respondents are segmented into national or federal, state or province (regional) and local jurisdictions, to identify trends specific to each tier. For the purposes of the survey, respondents were also categorized as top, typical and trailing performers in digitalization.

Rick Howard, research vice president at Gartner, said that 2016 proved to be a watershed year in which frustration with the status quo of government was widely expressed by citizens at the voting booth and in the streets, accompanied by low levels of confidence and trust about the performance of public institutions.

This has to be addressed head on, said Mr. Howard. Government CIOs in 2017 have an urgent obligation to look beyond their own organizations and benchmark themselves against top-performing peers within the public sector and from other service industries. They must commit to pursuing actions that result in immediate and measurable improvements that citizens recognize and appreciate.

Top Performers Secure Greater Budget Increases

Government CIOs as a group anticipate a 1.4 percent average increase in their IT budgets, compared with an average 2.2 percent increase across all industries. Local government CIOs fare better, averaging 3.5 percent growth, which is still more than 1 percent less on average than IT budget growth among top-performing organizations overall (4.6 percent).

The data is directionally consistent with Gartners benchmark analytics, which indicate that average IT spending for state and local governments in 2016 represented 4 percent of operating expenses, up from 3.6 percent in 2015. For national and international government organizations, average IT spending as a percentage of operating expenses in 2016 was 9.4 percent, up from 8.6 percent in 2015.

Whatever the financial outlook may be, government CIOs who aspire to join the group of top performers must justify growth in the IT budget by clearly connecting all investments to lowering the business costs of government and improving the performance of government programs, Mr. Howard said.

Top Technology Investment Priorities in Government

Looking beyond 2017, Gartner asked respondents to identify technologies with the most potential to change their organizations over the next five years.

Advanced analytics takes the top spot across all levels of government (79 percent). Digital security remains a critical investment for all levels of government (57 percent), particularly in defense and intelligence (74 percent).

The Internet of Things will clearly drive transformative change for local governments (68 percent), whereas interest in business algorithms is highest among national governments (41 percent). All levels of government presently see less opportunity in machine learning or blockchain than top performers do. Local governments are slightly more bullish than the rest of government and top performers when it comes to autonomous vehicles (9 percent) and smart robots (6 percent).

Biggest Barriers for Government CIOs

The top three barriers that government CIOs report they must overcome to achieve their objectives are skills or resources (26 percent), funding or budgets (19 percent), and culture or structure of the organization (12 percent).

Drilling down into the areas in which workforce skills are lacking, the government sector is vulnerable in the domain of data analytics (30 percent), which includes information, analytics, data science and business intelligence. Security and risk is ranked second for government overall (23 percent).

Bridge the skills gap by extending your networks of experts outside the agency, Mr. Howard said. Compared with CIOs in other industries, government CIOs tend not to partner with startups and midsize companies, missing out on new ideas, skills and technologies.

Seize the Digital Ecosystem Opportunity

The concept of a digital ecosystem is not new to government CIOs. Government organizations participate in digital ecosystems at rates higher than other industries, but they do so as a matter of necessity and without planned design, according to Gartner. Overall, 58 percent of government CIOs report that they participate in digital ecosystems, compared with 49 percent across all industries.

As digitalization gains momentum across all industries, the need for government to join digital ecosystems n++ interdependent, scalable networks of enterprises, people and things n++ also increases. The digital ecosystem becomes the means by which government can truly become more effective and efficient in the delivery of public services, Mr. Howard said.

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Volumes jump at Allcargo Logistics counter
Apr 26,2017

Allcargo Logistics clocked volume of 4.03 crore shares by 13:44 IST on BSE, a 818.06-times surge over two-week average daily volume of 49,000 shares. The stock surged 7.89% at Rs 194.25.

GlaxoSmithkline Consumer Healthcare notched up volume of 23,000 shares, a 60.3-fold surge over two-week average daily volume of 389 shares. The stock lost 0.72% at Rs 5,185.25.

CRISIL saw volume of 82,000 shares, a 48.86-fold surge over two-week average daily volume of 2,000 shares. The stock rose 0.86% at Rs 1,927.

Swaraj Engines clocked volume of 30,000 shares, a 29.41-fold surge over two-week average daily volume of 1,000 shares. The stock spurted 13.09% at Rs 1,870.

Eicher Motors saw volume of 74,000 shares, a 23.06-fold rise over two-week average daily volume of 3,000 shares. The stock was up 0.08% at Rs 26,110.10.

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MSR India secures work order worth Rs 22 lakh
Apr 26,2017

MSR India has bagged Rs 22 lakh work order from ISRO, Department of Space, Vikram Sarabhai Space Centre (Govt. of India).

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Gartner Survey Shows 85 Percent of Enterprises Will Have Started Windows 10 Deployments by End of 2017
Apr 26,2017

Migration to Windows 10 is expected to be faster than previous operating system (OS) adoption, according to a survey by Gartner, Inc. The survey showed that 85 percent of enterprises will have started Windows 10 deployments by the end of 2017.

Between September and December of 2016, Gartner conducted a survey in six countries (the U.S., the U.K., France, China, India and Brazil) of 1,014 respondents who were involved in decisions for Windows 10 migration.

Organizations recognize the need to move to Windows 10, and the total time to both evaluate and deploy Windows 10 has shortened from 23 months to 21 months between surveys that Gartner did during 2015 and 2016, said Ranjit Atwal, research director at Gartner. Large businesses are either already engaged in Windows 10 upgrades or have delayed upgrading until 2018. This likely reflects the transition of legacy applications to Windows 10 or replacing those legacy applications before Windows 10 migration takes place.

When asked what reasons are driving their migration to Windows 10, 49 percent of respondents said that security improvements were the main reason for the migration. The second most-often-named reason for Windows 10 deployment was cloud integration capabilities (38 percent). However, budgetary approval is not straightforward.

Windows 10 is not perceived as an immediate business-critical project; it is not surprising that one in four respondents expect issues with budgeting, said Mr. Atwal.

Respondents device buying intentions have significantly increased as organizations saw third- and fourth-generation products optimized for Windows 10 with longer battery life, touchscreens and other Windows 10 features. The intention to purchase convertible notebooks increased as organizations shifted from the testing and pilot phases into the buying and deployment phases, said Meike Escherich, principal research analyst at Gartner.

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Gujarat Gas inches up on brokerage rating
Apr 26,2017

Meanwhile, the S&P BSE Sensex was up 155.08 points or 0.52% at 30,098.32.

On the BSE, 4,978 shares were traded on the counter so far as against the average daily volumes of 24,799 shares in the past one quarter. The stock had hit a high of Rs 852.55 and a low of Rs 840.10 so far during the day.

The stock had hit a record high of Rs 880 on 18 April 2017 and a 52-week low of Rs 480 on 23 May 2016. It had outperformed the market over the past one month till 25 April 2017, surging 14.56% compared with the Sensexs 1.77% rise. The scrip had also outperformed the market over the past one quarter, gaining 51.88% as against the Sensexs 8.07% rise.

The large-cap company has equity capital of Rs 137.68 crore. Face value per share is Rs 10.

Gujarat Gas net profit rose 31.5% to Rs 42.29 crore on 17% decline in net sales to Rs 1220.31 crore in Q3 December 2016 over Q3 December 2015.

Gujarat Gas is a city gas distribution company with presence spread across 19 districts in Gujarat and the Union Territory of Dadra Nagar Haveli and the Thane geographical area which includes Palghar district of Maharashtra.

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