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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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Board of Confidence Finance & Trading approves consolidation of shares
Aug 18,2017

The Board of Confidence Finance & Trading has approved to Consolidate the Face Value of Equity Shares from Re. 1/- to Rs. 10/- in Board Meeting held on 18 August, 2017.

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Allahabad Bank announces change in nominee director
Aug 18,2017

Allahabad Bank announced the appointment of Rajeev Rajan as Government Nominee Director with effect from 17 August 2017 in place of Anshuman Sharma.

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Worldwide Leather Exports appoints director
Aug 18,2017

The Board of Worldwide Leather Exports has appointed Amit Lohia as an Independent Director with effect from 18 August 2017.

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Central Bank of India allots 96.01 lakh shares to GoI
Aug 18,2017

Central Bank of India announced that the Board of Directors of the Bank at its meeting held today i.e. 18 August, 2017 has allotted 96,01,536 equity shares of the face value of Rs. 10/- each to President of India (Government of India) at the issue price of Rs. 104.15 per equity share aggregating upto Rs. 100/- crore (Rupees One Hundred Crore only) subsequent to passing of the Special Resolution by shareholders at Extra-ordinary General Meeting held on 11 May, 2017 and the approval of Government of India under Section 3(2B)(c) of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 to increase the paid-up capital vide letter No. F.No.7/38/2014-BOA dated 04.08.2017. With this allotment, shareholding of President of India (Government of India) has increased from 81.28% to 81.38%.

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Engineers India provides update of buyback of shares
Aug 18,2017

Engineers India has extinguished 4,19,61,780 fully paid up equity shares of Rs 5 each in the recently concluded buyback of shares. Paid up equity capital post extinguishement stands at 63,19,11,420 equity shares of Rs 5 each.

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Quess Corp to allot 1.09 crore equity shares
Aug 18,2017

Quess Corp announced that the duly authorized Capital Raising Committee of the Board of Directors of the Company, at its meeting held on 18 August 2017 decided to allot 1,09,24,029 Equity Shares of Rs.10/- each to successful applicants at an issue price of Rs. 800 per Equity Share, aggregating to Rs. 873.92 crore, under QIP Issue.

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Alembic Pharmaceuticals intimates of disruption in plant at Constantine, Algeria
Aug 18,2017

Alembic Pharmaceuticals announced that there was a fire incident at its Algerian Joint Venture plant at Constantine, Algeria Constantine, Algeria. It has had been brought under control. No casualties or injury to any persons is reported. The cause of accident and the extent of damage is being investigated and assessed. The Company expects a disruption in operations till the plant is put back on stream.

Alembic Mami SPA is a joint venture in which 49% equity stake is held by Alembic Global Holding SA (AGH), 100% subsidiary of Alembic Pharmaceuticals.

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Tiaan Ayurvedic & Herbs receives purchase order
Aug 18,2017

Tiaan Ayurvedic & Herbs announced the receipt of a purchase order amounting to Rs 5.07 crore for its Ayurvedic products.

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Fortis Cancer Care to sell its 79.43% stake in Lalitha Healthcare
Aug 18,2017

Fortis Healthcare announced that Fortis Cancer Care (FCCL), a step down subsidiary of the Company has entered into a memorandum of understanding (MoU) with Lalitha Healthcare Private Limited (LHPL), another step down subsidiary of the Company, Dr. Lakshmi Narayana Raju, Lakshmi Priya, S. Venkataramana Raju (collectively the Promoters of LHPL) and Anikrish Hospitals Private Limited, for, inter alia, sale of the entire shareholding held by FCCL, representing 79.43% of the total issued and paid up equity share capital of LHPL (FCCL Shares), to the Promoters of LHPL (Proposed Transaction).

The MoU contemplates that FCCL, LHPL and the Promoters of LHPL will enter into a share purchase agreement (SPA) for the sale of the FCCL Shares to the Promoters of LHPL.

Pursuant, to the consummation the Proposed Transaction the control and management of LHPL will be transferred to the Promoters of LHPL.

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Outcome of board meeting of Ganesh Benzoplast
Aug 18,2017

Ganesh Benzoplast announced that the Board of Directors of the Company at its meeting held on 18 August 2017 has transacted the following -

i. Considered and approved that a proposal to segregate the divisions of the Company either by Demerger or Slump Sale will be formulated and implemented immediately.

ii. The designation of Mr Ramesh Punjabi has been changed from Non-Executive Independent Director to Non-Executive Non-Independent Director, liable to retire by rotation, w.e.f 18 August 2017.

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India Tourism Development Corporation announces change in directorate
Aug 18,2017

India Tourism Development Corporation announced the appointment of Leena Nandan, IAS (UP:1987), Addl. Secretary & Financial Advisor (AS & FA), Ministry of Tourism, as part-time Government Director on the Board of ITDC in place of Dr. Pradeep Kumar, IAS (Kerala:1987).

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Telecommunications sector to generate 30 lakh jobs by 2018: ASSOCHAM-KPMG
Aug 18,2017

Roll out of 4G technology with an increase in data, entry of new players in the market, introduction of digital wallets, popularity of smart phone leading to consistent increase in demand for technology and other developments in the telecom sector likely to increase job opportunities by 30 lakhs by 2018, according to an ASSOCHAM-KPMG joint study.

Emerging technologies such as 5G, M2M and the evolution of Information and Communications Technology (ICT) are expected to create employment avenues for almost 870,000 individuals by 2021, reveals the ASSOCHAM-KPMG joint study.

The existing manpower in the sector may not be adequate both in number as well as in skill to cater to the upcoming demand. There is a need to bridge the gap in skill which on the one hand would require identification of skilled manpower in diverse roles such as infra and cyber security experts, application developers, sales executives, infrastructure technicians, handset technicians etc. as well as on the other hand reskilling of existing manpower working on existing technologies for them to be updated with upcoming requirements.

The government initiatives such as Skill India have been implemented for the ease of providing sufficient and appropriate manpower to the telecom sector, among other sectors. The Telecom Sector Skill Council (TSSC) has been set up to cater to the demands and skill needs of the telecom sector. However, the Industry recommends more targeted and specialised skill development programmes that would enhance existing manpower capabilities and availability to ensure uninterrupted development of the sector as a whole.

The telecom sector has grown at 19.6 per cent CAGR in terms of subscriber base and at 7.07 per cent CAGR from a revenue perspective over the last few years.

n++TSPs have continued to invest in their networks and modernise their existing network infrastructure. Operators CAPEX investments stands at INR 85003 crore during Q1 2017 and the below figure depicts the significant CAPEX investment during the period 2012- 2016n++, noted the study.

Operators made these capex investments primarily to deploy new technologies like 4G and 4G-Advanced, to expand their fibre footprint and to acquire spectrum via spectrum auctions. These investments have resulted in increased borrowings for the TSPs and hence led to an increase in debt burden for the operators, resulting in highly leveraged TSP balance sheets.

Indian telecom sector is a highly price-sensitive market with a subscriber base that has majority prepaid subscribers with lower ARPU. Also, competition in the sector has increased thereby putting a pressure on the operator margins.

The increased debt burden on operators coupled with continuous pressure on profitability has affected the financial health of the telecom sector. Further, initiatives from the government to enhance the health of the telecom sector and enable a cost efficient expansion of digital services are required.

The Indian telecom industry has seen a paradigm shift from a voice centric market to a data-centric market. While voice business still contributes a large chunk towards operator revenues, data revenues have shown an exponential growth trajectory over the last few years. By the end of 2016 the number of internet subscribers in India was 391.50 million making India globally the 2nd highest in terms of internet users.

Mobile data traffic also grew by 76 per cent in India in 2016 primarily attributed to increased smart phone penetration. This growing usage of smart phones, especially in urban areas, has increased the usage of internet on hand-held devices - in 2016, 559 megabytes of mobile data was generated per month by an average smart phone, up from 430 megabytes per month in 2015. Consumption of video content is also forecasted to be 75 per cent of Indias mobile data traffic by 2021, compared to 49 per cent in 2016.

Advancements in innovative IoT technologies, like health monitors, smart transport, smart meters among others, is projected to result in 21 per cent increase in M2M services. These advances will result in a significant growth of mobile data, and as the telecom sector moves to newer technologies, TSPs will need to identify innovative avenues to monetise this data opportunity.

The Indian telecom industry is the second largest in the world by number of subscribers. The sector has witnessed exponential growth over the last few years primarily driven by affordable tariffs, wider availability, roll out of Mobile number portability (MNP), 3G and 4G, evolving consumption patterns of subscribers and a conducive regulatory environment. However, the hyper competitive nature of the Indian telecom market and introduction of disruptive tariff plans have put operator margins under pressure and resulted in consolidation via mergers and acquisitions. The telecom sector finds itself in an unenviable position where despite falling ARPU the players are forced to invest significantly in infrastructure and technology upgrades in order to maintain competiveness. Moving up the technology curve and expanding the breadth of coverage is paramount for the industry to provide differentiated value offerings to end customers.

Vision 2020

n++ Total number of SIM connections is expected to reach 1.4 billion by 2020 from the current 1.1 billion

n++ With 646 million unique mobile subscribers, India is the second largest mobile market in the world and will add more than 300 million new unique subscribers by 2020

n++ Telecom sector contribution to GDP will reach 8.2 per cent by 2020

n++ Smart phone subscriptions will reach 674 million by 2020

n++ Wearable device market is expected to grow from 2.5 million units in 2016 to 4.1 million units in 2020

n++ India has shown tremendous growth potential for IOT solutions with the market poised to reach USD 15 billion by 2020 with 2.7 billion units of connected devices from the current USD 5.6 billion with 200 million units of connected devices in 2016

n++ Data growth driving operator revenues from USD 31 billion in 2016 to USD 39.7 billion in 2020 with a capex investment of USD 35 billion during the period 2016-2020.

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Infosys may gain after launching app with ATP
Aug 18,2017

Infosys announced that ATP, the governing body of mens professional tennis, in association with company launched a new PlayerZone app and website. The revamped PlayerZone, an extranet portal for ATP players, their support teams, coaches, and others in the ecosystem, allows users to engage with each other and access information across a wide range of operational aspects related to life on Tour. The announcement was made after market hours yesterday, 17 August 2017.

The PlayerZone is developed with best-in-class technology to be intuitive and more convenient, offeringbiometric login on the app. It also provides information on tournament entries and withdrawals, automated updates on match scheduling and results, rules and regulations, all the way to hotel information, transportation, visa requirements, and more. Besides simplifying the life of players on Tour, PlayerZone will also feature new prize money and taxes data to ease tracking of earnings and facilitate compliance.

The new app will increase engagement with the next generation of players, provide a central portal of information as players progress through different stages of their career, as well as offer a forum to engagewith the players support teams in a private and secure digital environment.

Punjab National Bank has decided to introduce a two tier interest rates structure on savings fund deposit scheme from 19 August 2017, with savings fund account balance upto Rs 50 lakh at 3.5% per annum and above Rs 50 lakh at 4% per annum. The announcement was made after market hours yesterday, 17 August 2017.

NIIT said that a meeting of the board of directors of the company is scheduled to be held on 22 August 2017, to consider inter-alia, recommendation of the Committee on the rationalization option. The announcement was made after market hours yesterday, 17 August 2017.

It may be recalled that NIITs board at its meeting held on 28 July 2017, had constituted a Committee of Directors/Officials (Committee) to explore the options available for rationalizing the structure of NIIT Antilles NV, Netherlands Antilles and its overseas subsidiaries (Rationalization Option).

Somany Ceramics announced that Sudha Somany Ceramics, an associate of Somany Ceramics is setting up a facility in Andhra Pradesh to produce about 5 million square meters of vitrified tiles. The same is expected to be commissioned in the last quarter of financial year 2018-19. The announcement was made after market hours yesterday, 17 August 2017.

Raymond Group announced the acquisition of Ansells stake in a joint venture entity known as JK Ansell. The announcement was made after market hours yesterday, 17 August 2017.

Talbros Engineering said that its board recommended the issuance of bonus shares in the ratio of 1:1. The announcement was made after market hours yesterday, 17 August 2017.

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Taxpayers who want to avail transitional input tax credit should calculate tax liability after estimating amt. of transitional credit
Aug 18,2017

As per the rules, the Goods and Services Tax (GST) for the month of July 2017 has to be paid by 20th August, 2017. Only after the payment of full GST, return in summary Form 3B can be filed.

Concerns have been raised about the form for claiming transitional input tax credit not being available on the GSTN website. This form will be available on the GSTN website from 21st August, 2017. In view of this, a small window of opportunity is being given to all the taxpayers. For those taxpayers who do not want to claim any transitional input tax credit have to necessarily pay the tax and file return in Form 3Bbefore the due date of 20th August, 2017. The taxpayers who want to avail the transitional input tax credit should also calculate their tax liability after estimating the amount of transitional credit as per Form TRANS I. They have to make full settlement of the liability after adjusting the transitional input tax credit before 20th August, 2017. However, in such cases, they will get time upto 28th August, 2017 to submit Form TRANS I and Form 3B. In case of shortfall in the amount already paid vis-n++-vis the amount payable on submission of Form 3B, the same will have to be paid with interest @ 18% for the period between 21stAugust,2017 till the payment of such differential amount.

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Board of Orient Press approves raising of funds
Aug 17,2017

Orient Press announced that the Board of Directors of the Company at its meeting held on 17 August, 2017 has approved subject to the approval of Members in ensuing Annual General Meeting and pursuant to the provisions of Section 62 of the Companies Act, 2013 raising of funds by way of issue of up to 19,25,000 fully paid Equity Shares of face value of Rs. 10/- each at a price of Rs. 60/- each (at a price which is not lesser than the price calculated in accordance with the provisions of ICDR Regulations) on Preferential allotment basis to Promoters and person other than Promoters.

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