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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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Volumes jump at Aditya Birla Fashion and Retail counter
Jul 25,2017

Aditya Birla Fashion and Retail clocked volume of 32.78 lakh shares by 12:40 IST on BSE, a 33.81-times surge over two-week average daily volume of 97,000 shares. The stock rose 3.89% at Rs 180.40.

Supreme Industries notched up volume of 4.04 lakh shares, a 31.91-fold surge over two-week average daily volume of 13,000 shares. The stock advanced 0.55% at Rs 1,108.35.

Hero MotoCorp saw volume of 5.25 lakh shares, a 28.41-fold surge over two-week average daily volume of 18,000 shares. The stock gained 1.1% at Rs 3,731.80 ahead of its Q1 results today, 25 July 2017.

Westlife Development clocked volume of 2.41 lakh shares, a 6.59-fold surge over two-week average daily volume of 37,000 shares. The stock gained 1.97% at Rs 251.

HDFC saw volume of 26.19 lakh shares, a 5.73-fold rise over two-week average daily volume of 4.57 lakh shares. The stock declined 0.21% at Rs 1,631.50.

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Board of Mishka Exim approves migration to BSE Main Board
Jul 25,2017

Mishka Exim announced that the Board of Directors of the Company at its meeting held on 25 July 2017 has approved the migration to Main Board of BSE.

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Outcome of board meeting of Websol Energy System
Jul 25,2017

Websol Energy System announced that the Board of Directors at its meeting held on 25 July 2017 has transacted the following -

1. No Due Certificate from Federal Bank has been taken on record.

2. Board has approved another expansion of 100 MW of its cell line capacity thereby making it to 280-300 MW. The Company will initiate discussions with equipment manufacturers for the same.

3. Board has approved Expansion of its Module line capacity from 100 MW to 250 MW with fully automated line of production for the entire capacity. Orders for Module line has been finalised.

4. Board has approved formation of wholly owned subsidiary for business of roof top and EPC in the subsidiary company.

5. The Company has already taken necessary steps for retailing of modules, taking rooftop projects and also EPC contracts. A business strategy and marketing team for the same has been put in place. Company is under process of recruiting Sr. Marketing Executives and office in Kolkata, Delhi and Hyderabad is being considered.

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Chemcrux Enterprises fixes record date for dividend
Jul 25,2017

Chemcrux Enterprises has fixed 09 August 2017 as record date for payment of dividend.

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International Paper APPM announces resignation of CFO
Jul 25,2017

International Paper APPM announced the resignation of Badrinath Chellappa as Chief Financial Officer of the Company with effect from the close of business hours of 25 July 2017.

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AAI Worldwide Logistics Goes Live on Ramco ERP across 7 operating units
Jul 25,2017

Ramco Systems announced that Philippines based logistics and freight-forwarding giant AAI Worldwide Logistics Inc. on 25 July 2017 has completed first phase of implementing Ramco Systems ERP solution for Logistics.

In Phase I of the go-live, AAI has implemented group-widecentralized systems to digitize Financial Management and Supply Chain Management functions. In addition, complete Project Cargo modules are live at AAI +PEERS Inc., a member of the Project Cargo Network (PCN)organization specializing in transportation and handling of Over Dimensional Cargo (ODC) used for engineering, procurement and construction companies across the island.

Ramco ERP for logistics service providers is being implemented across all of AAIs freight-forwarding & warehousing operations, including those of its new Express Courier unit, Black Arrow Express, therebyconsolidating operations for Finance, Project Cargo, and end-to-end Supply Chain Management across seven AAI operating units in the Philippines.

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International Paper surges after good Q1 numbers
Jul 25,2017

The result was announced during market hours today, 25 July 2017.

Meanwhile, the S&P BSE Sensex was down 19.27 points, or 0.06% at 32,226.60. The S&P BSE Small-Cap index was up 3.11 points, or 0.02% at 16,038.87.

High volumes were witnessed on the counter. On the BSE, 90,000 shares were traded on the counter so far as against the average daily volumes of 11,201 shares in the past one quarter. The stock had hit a high of Rs 337.40 and a low of Rs 314.95 so far during the day. The stock had hit a 52-week high of Rs 376 on 26 April 2017 and a 52-week low of Rs 272 on 9 November 2016.

The stock had outperformed the market over the past one month till 24 July 2017, advancing 6.6% compared with the Sensexs 3.56% rise. The scrip had, however, underperformed the market over the past one quarter declining 11.35% as against the Sensexs 8.73% rise. The scrip had also underperformed the market over the past one year advancing 5.5% as against the Sensexs 15.98% rise.

The small-cap company has equity capital of Rs 39.77 crore. Face value per share is Rs 10.

International Paper APPM is an integrated paper and pulp manufacturing company. The company is engaged in the business of manufacture and sale of pulp, paper and paper board.

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Idea Cellular rings loud after CCI nod for Vodafone merger
Jul 25,2017

The announcement was made after market hours yesterday, 24 July 2017.

Meanwhile, the S&P Sensex was down 30.61 points or 0.09% at 32,215.26.

On the BSE, 16.35 lakh shares were traded on the counter so far as against the average daily volumes of 15.71 lakh shares in the past one quarter. The stock had hit a high of Rs 96.90 and a low of Rs 93.25 so far during the day.

The stock had hit a 52-week high of Rs 123.75 on 20 March 2017 and a 52-week low of Rs 66 on 9 November 2016.

The stock had outperformed the market over the past one month till 24 July 2017, rising 15.75% compared with 3.56% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 8.12% as against Sensexs 8.73% rise. The scrip had also underperformed the market in past one year, falling 13.92% as against Sensexs 15.98% rise.

The large-cap company has equity capital of Rs 3606.41 crore. Face value per share is Rs 10.

Idea Cellular announced that the Competition Commission of India (CCI) approved to the proposed merger of Vodafone India, Vodafone Mobile Services and Idea Cellular. The transaction is expected to close during calendar year 2018 subject to customary approvals.

Separately, Idea Cellular issued clarification after market hours yesterday, 24 July 2017 with regards to new article titled n++Six telcos understated revenues by Rs 61000 croren++.

The company clarified that the news is referring to the Comptroller and auditor general (CAG) report for adjusted gross revenue (AGR) and alleged short payment of revenue share thereon for the financial years 2010-11 to 2014-15. These matters pertaining to the interpretation of the definition of AGR are currently sub-judice and pending for adjudication before Supreme Court and Kerala High Court.

The company will announce Q1 results on 27 July 2017. Idea Cellular reported consolidated net loss of Rs 327.70 crore in Q4 March 2017, compared with net profit of Rs 451.70 crore in Q4 March 2016. Consolidated net sales declined 14.3% to Rs 8109.10 crore in Q4 March 2017 over Q4 March 2016.

Idea Cellular is one of the leading telecom operators in India.

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Unichem Laboratories receives ANDA approval for Losartan Potassium and Hydrochlorothiazide Tablets
Jul 25,2017

Unichem Laboratories has received ANDA approval from United States Food and Drug Administration for Losartan Potassium and Hydrochlorothiazide Tablets USP, 50 mg/12.5 mg , 100 mg/12.5 mg and 100 mg/25 mg which are therapeutically equivalent to Hyzaar Tablets 50 mg/12.5 mg , 100 mg/12.5 mg and 100 mg/25 mg of Merck Sharp & Dohme Corporation.

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Technical Innovations & Cost Savings Necessary to Support Wind Power Tariffs Discovered during Auctions
Jul 25,2017

With the record low tariff of INR3.46/kWh discovered during the first round of auctions conducted by Solar Energy Corporation of India in February 2017, the winning bidders bank on the latest technological innovations and cost saving measures to achieve better equity returns. India Ratings and Research (Ind-Ra) believes that the utilities will depend on the auction method for future power purchase contracts.

According to the prevalent technology and costs, Ind-Ra estimates that the winning bidders will just be able to earn an equity internal rate of return of about 9.0% and achieve moderate debt coverages at this tariff. Technological innovations with cost reductions on both capex and operational front will be required to earn more desirable and equity-like returns. Ind-Ra considers higher hub heights (exceeding 100m) and bigger wing spans to be the biggest contributors to achieve this, among other technological improvements such as better aerodynamic profile with modular blades, lower generator-to-rotor ratio, better carbon fibre material and direct drive gearless machines.

There could be a substantial dip in capacity addition in FY18 to 1-1.5GW only from about 5.4GW in FY17. This will be because of the unwillingness of state discoms to sign long-term purchase agreements at higher feed in tariffs and unpreparedness on their part to come out with auctions in a big way in the near term. Auctions can pick up from FY19 in the agencys view. Although the Ministry of New and Renewable Energy has come up with detailed policies on repowering (August 2016), hybrid (draft in June 2016) and offshore wind power projects (October 2015) in the past, ground challenges and bottlenecks hinder a speedy progress on these fronts. Distributed ownership of land and non-availability of contiguous land (due to urbanisation in between) pose the biggest challenge to repowering the wind projects nearing the end of their life. Although a higher 200-250bp equity internal rate of return can be earned in repowering projects than new plants, these practical limitations can dampen the process and limit the overall progress to a fraction of the overall potential of 3,000MW estimated by the ministry.

Hybridisation of wind with solar power has major advantages as wind power peaks during night and solar power peaks during day hours, perfectly complementing each other. Besides, there can be savings on the land and evacuation fronts. However, according to the agencys discussions with major industry players, infrastructure bottlenecks are preventing hybridisation of the existing wind power plants, while the same can be planned for upcoming plants. According to Ind-Ra, hybrid plants can offer about 1 percentage point higher returns than an individual wind or solar power plant without trackers. Given the marginal nature of incremental returns, industry players prefer to wait and watch before going up for the same in a big way.

On the same lines, emerging technology, practical difficulties around logistics and non-existence of experienced players in the field are the major hindrances for offshore wind projects to take off now. Developers expect risks to be rightly balanced to facilitate investments in this new theme as of now. Should the engineering, procurement and construction model adopted for the initial phase until technology stabilises, offshore projects could show a gradual uptick, in the agencys opinion.

Cost of financing remains one of the most effective drivers to reduce cost of energy and issuers are employing new innovative structures such as introducing subordinate debt, pooling of assets, flexible repayment schedules, cash trap/additional reserves and external credit enhancements to reduce the same. According to the agency, there is considerable appetite in the market for renewable assets with novel financial structures (key elements of structures below) which are expected to hit capital markets in FY18.

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IRB Infrastructure Developers fixes record date for 1st interim dividend
Jul 25,2017

IRB Infrastructure Developers announced that the Company has fixed 01 August 2017 as the Record Date for the purpose of Payment of Interim Dividend.

Interim Dividend will be paid / dispatched to the equity shareholders of the Company on or before 14 August 2017.

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Ambuja Cements fixes record date for interim dividend
Jul 25,2017

Ambuja Cements has fixed 03 August 2017 as the Record Date for the purpose of Payment of Interim Dividend.

The dividend shall be paid on and from 10 August 2017.

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HDFC Bank allots 1259600 equity shares
Jul 25,2017

HDFC Bank has allotted 1259600 equity shares to the employees of the Bank pursuant to exercise of options under its Employees Stock Options Schemes (ESOS) on 25 July 2017.

The paid up share capital of the Bank will accordingly increase from Rs. 5147766634 equity shares of Rs 2/- each to Rs.5150285834 equity shares of Rs 2/- each.

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Infibeam Incorporation surges 19.61% in six sessions
Jul 25,2017

Meanwhile, the S&P BSE Sensex was up 16.49 points, or 0.05% at 32,262.36. The S&P BSE Mid-Cap index was up 51.63 points, or 0.34% at 15,278.04.

On the BSE, 1.21 lakh shares were traded on the counter so far as against the average daily volumes of 1.51 lakh shares in the past one quarter. The stock had hit high of Rs 1,360 and a low of Rs 1,302.55 so far during the day. The stock had hit a record high of Rs 1,447.55 on 22 February 2017 and a 52-week low of Rs 657.50 on 27 July 2016.

The stock had outperformed the market over the past one month till 24 July 2017, advancing 25.55% compared with the Sensexs 3.56% rise. The scrip had also outperformed the market over the past one quarter gaining 18.21% as against the Sensexs 8.73% rise. The scrip had also outperformed the market over the past one year advancing 94.13% as against the Sensexs 15.98% rise.

The mid-cap company has equity capital of Rs 54.28 crore. Face value per share is Rs 10.

Shares of Infibeam Incorporation rose 19.61% in six trading sessions to its current market price of Rs 1,345.55, from a close of Rs 1,124.95 on 17 July 2017.

Recent media reports suggested that a consortium led by Intellect Design Arena and Infibeam Incorporation has emerged the lowest bidder to run the online platform from where the Government of India purchases goods and services. The five-year contract is estimated to be worth around Rs 1000 crore, reports suggested. Infibeam Incorporation is yet to issue a clarification to the stock exchanges with regard to aforesaid news item.

Infibeam Incorporations consolidated net profit spurted 468.5% to Rs 13.53 crore on 61.2% growth in net sales to Rs 120.51 crore in Q4 March 2017 over Q4 March 2016.

Infibeam Incorporation is an e-commerce company, focused on developing successful e-commerce platforms and ecosystems.

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Bharti Infratel advances after unveiling Q1 results
Jul 25,2017

Meanwhile, the S&P BSE Sensex was up 19.57 points, or 0.06% to 32,265.44.

On the BSE, 64,950 shares were traded in the counter so far, compared with average daily volumes of 1.52 lakh shares in the past one quarter. The stock had hit a high of Rs 424.60 and a low of Rs 416.90 so far during the day.

The stock had hit a 52-week high of Rs 439 on 19 July 2017. The stock had hit a 52-week low of Rs 283.10 on 28 February 2017.

The stock had outperformed the market over the past one month till 24 July 2017, rising 10.01% compared with 3.56% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 14.21% as against Sensexs 8.73% rise. The scrip had, however, underperformed the market in past one year, rising 13.36% as against Sensexs 15.98% rise.

The large-cap company has equity capital of Rs 1849.61 crore. Face value per share is Rs 10.

Bharti Infratels consolidated net profit fell 12% to Rs 664 crore on 10% increase in revenues to Rs 3524 crore in Q1 June 2017 over Q1 June 2016. EBITDA (earnings before interest, taxes, depreciation and amortization) margin rose to 44.7% in Q1 June 2017 from 43.9% in Q1 June 2016.

Akhil Gupta, Chairman, Bharti Infratel said that the company continues to observe significant network rollouts for data coverage and the company believes all operators will further accelerate their data network rollout plans to grab a share in the growing data market.

The Government of Indias Digital India program and Smart City project pose additional opportunity to create infrastructure for sharing on a nondiscriminatory basis. As Bharti Infratel and Indus Towers, the company is well positioned to grab our fair share of the emerging data led growth market and build vital infrastructure for Smart Cities for sharing on nondiscriminatory basis, he added.

Bharti Infratel is a provider of tower and related infrastructure sharing services.

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