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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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Mac Charles (India) announces sale of shares by promoter
Nov 29,2016

Mac Charles (India) announced that the promoter of the Company C.B. Pardhanani has sold 28,73,800 equity shares of Mac Charles (India)at Rs.642.55 each on 29 November 2016 through Block deal on BSE stock exchange.

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Ansal Buildwell appoints director
Nov 29,2016

Ansal Buildwell announced that the Board of Directors of the Company in their meeting held on 11 November 2016 has appointed Kaadambari Puri , as Additional Director (Independent) of the Company.

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Fortis Healthcare receives Notice for conversion of FCCBs
Nov 29,2016

Fortis Healthcare announced that the Company has issued USD 30 Million Foreign Currency Convertible Bonds due 2018 (FCCBs) through an Offering Circular listed on Singapore Stock Exchange in the year 2013. The maturity date/ last date of conversion of FCCBs is 01 August 2018.

The Company has received Conversion Notice from DB Trustees (Hong Kong) (the trustees) that the investor Standard Chartered Private Equity (Mauritius) III Limited (SCPE) has requested for conversion of entire FCCBs into equity shares equivalent to 1,80,70,650 equity shares of Rs. 10 each @ Rs.99.09 per shares with a fixed rate of exchange on conversion of Rs 59.6875 = U.S.$1.00.

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Sanguine Media to hold EGM
Nov 29,2016

Sanguine Media announced that the Extra Ordinary General Meeting (EGM) of the Company will be held on 30 December 2016.

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Board of Rajkumar Forge to consider change in management and control
Nov 29,2016

Rajkumar Forge announced that a Meeting of the Board of Directors of the Company is convened to be held on 01 December 2016, inter alia, to consider and take on record change in management and control of the Company in accordance with the Share Purchase Agreement dated 18 May 2016 entered in to by Rajkumar Shankarrao Kothavale and others (Promoters of the Company) with Western India Forging, Arun Jindal and Krishnakumar Jindal.

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Idea Cellular surges on buzz over stake sale in tower subsidiary
Nov 29,2016

Meanwhile, the S&P BSE Sensex was up 168.84 points or 0.64% at 26,519.01.

On the BSE, 9.43 lakh shares were traded on the counter so far as against average daily volumes of 10.01 lakh shares in the past one quarter. The stock had hit a high of Rs 79.55 and a low of Rs 77.60 so far during the day. The stock had hit a 52-week high of Rs 147.70 on 27 November 2015. The stock had hit a 52-week low of Rs 66 on 9 November 2016. The stock had outperformed the market over the past one month till 28 November 2016, sliding 0.52% compared with the Sensexs 5.7% fall. The scrip had, however, underperformed the market in past one quarter, declining 19.32% as against the Sensexs 5.15% fall.

The large-cap company has equity capital of Rs 3601.13 crore. Face value per share is Rs 10.

Idea Cellular has dropped its earlier plans to sell a minority stake in the tower business and now it is looking to sell 11,000 telecom towers for close to $1 billion, reports suggested.

On a consolidated basis, Idea Cellulars net profit fell 88% to Rs 91.46 crore on 7.2% growth in net sales to Rs 9298.89 crore in Q2 September 2016 over Q2 September 2015.

Idea Cellular is the third largest wireless operator in India. Idea is part of the Aditya Birla Group, which is one of the largest business groups in India.

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Adani Ports & Special Economic Zone allots NCDs aggregating Rs 1300 crore
Nov 29,2016

Adani Ports & Special Economic Zone announced that the Company has raised Rs. 1300 crore (Rupees One Thousand and Three Hundred Crores only) on 29 November 2016 by allotment of 13,000 Rated, Listed, Secured, Taxable, Redeemable, Non-Convertible Debentures (NCDs) of the face value of Rs. 10,00,000/- each on private placement basis.

The said NCDs will be listed on the Wholesale Debt Market segment of BSE.

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Madhav Infra Projects to hold EGM
Nov 29,2016

Madhav Infra Projects announced that the Extra Ordinary General Meeting (EGM) of the Company will be held on 22 December 2016.

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Oil India slips over 4% in two sessions
Nov 29,2016

The result was announced during trading hours yesterday, 28 November 2016. Shares of Oil India fell 2.08% to Rs 427.80. The stock has fallen 4.30% in two trading sessions from its close of Rs 436.90 on 25 November 2016.

Meanwhile, the BSE Sensex was up 193.05 points, or 0.73%, to 26,543.22.

On BSE, so far 61,000 shares were traded in the counter, compared with average daily volume of 74,282 shares in the past one quarter. The stock hit a high of Rs 427.15 and a low of Rs 418.05 so far during the day. The stock hit a 52-week high of Rs 446 on 24 November 2016. The stock hit a 52-week low of Rs 300.50 on 1 March 2016. The stock had outperformed the market over the past 30 days till 28 November 2016, rising 2.58% compared with the 5.66% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 11.10% as against Sensexs 7.03% decline.

The large-cap company has equity capital of Rs 601.14 crore. Face value per share is Rs 10.

Oil Indias net profit of declined 17.8% to Rs 580.27 crore on 6.5% decline in net sales to Rs 2242.72 crore in Q2 September 2016 over Q2 September 2015.

Meanwhile, the company said in a separate announcement yesterday, 28 November 2016, that its board recommended issuing one bonus equity share for every three existing fully paid up equity share (1:3). The proposal is subject to approval of the shareholders.

The Government of India held 67.64% stake in Oil India as per the shareholding pattern as on 30 September 2016.

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Bharat Financial Inclusion leads gainers in A group
Nov 29,2016

Bharat Financial Inclusion jumped 7.66% to Rs 732.65 at 13:29 IST on reports that a foreign brokerage has maintained overweight rating on the stock for a target price of Rs 1,125 for its strong collection progress. The stock topped the gainers in the BSEs A group. On the BSE, 4.11 lakh shares were traded on the counter so far as against the average daily volumes of 3.23 lakh shares in the past two weeks.

Muthoot Finance galloped 6.88% at Rs 305.35. The stock was second biggest gainer in A group. On the BSE, 1.09 lakh shares were traded on the counter so far as against the average daily volumes of 75,000 shares in the past two weeks.

Berger Paints India spurted 6.37% to Rs 239.70. The stock was third biggest gainer in A group. On the BSE, 1.37 lakh shares were traded on the counter so far as against the average daily volumes of 1.48 lakh shares in the past two weeks.

Dewan Housing Finance Corporation gained 5.4% at Rs 253.80. The stock was fourth biggest gainer in A group. On the BSE, 3.87 lakh shares were traded on the counter so far as against the average daily volumes of 4.02 lakh shares in the past two weeks.

JSW Energy rose 5.32% to Rs 60.35. The stock was fifth biggest gainer in A group. On the BSE, 2.96 lakh shares were traded on the counter so far as against the average daily volumes of 12.60 lakh shares in the past two weeks.

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Point of Sale (POS) Devices and Goods required for their manufacture exempted from Central Excise Duty till 31 March 2017
Nov 29,2016

The Government has demonetised the currency notes of Rs 500 and Rs 1,000 with effect from mid-night of 8th-9th November, 2016. Along with this, the Government has also laid increased emphasis on promoting digital payments.

Point of Sale (POS) devices are used for cashless transactions, both for making payments or disbursing cash. POS do not attract any basic customs duty. To further reduce the cost of such devices and thereby encourage digital payments, the Government has exempted such devices from Central Excise Duty. Consequently, these devices will also be exempt from Additional Duty of Customs [commonly known as CVD] and additional duty of customs [commonly known as SAD]. Simultaneously, to encourage domestic manufacturers of such devices, all goods required for the manufacture of POS devices have also been exempted from excise duty, and consequently from CVD and SAD. These exemptions will be valid till 31st March 2017.

Notification No.35/2016-Central Excise, dated 28th November, 2016 has also been issued in this regard.

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Volumes jump at Motilal Oswal Financial Services counter
Nov 29,2016

Motilal Oswal Financial Services clocked volume of 5.20 lakh shares by 13:24 IST on BSE, a 34.12-times surge over two-week average daily volume of 15,000 shares. The stock rose 3.05% to Rs 512.40.

PI Industries notched up volume of 2.04 lakh shares, a 8.62-fold surge over two-week average daily volume of 24,000 shares. The stock fell 0.68% to Rs 874.25.

Suven Life Sciences saw volume of 4.30 lakh shares, a 8.31-fold surge over two-week average daily volume of 52,000 shares. The stock rose 3.95% to Rs 181.40.

Reliance Industrial Infrastructure clocked volume of 2.07 lakh shares, a 5.08-fold surge over two-week average daily volume of 41,000 shares. The stock rose 10.58% to Rs 394.20.

TVS Electronics saw volume of 6.38 lakh shares, a 4.91-fold rise over two-week average daily volume of 1.30 lakh shares. The stock rose 10% to Rs 161.20.

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RBIs Liquidity Measures to Put Markets on the Backfoot
Nov 29,2016

The surge in inter-bank liquidity compelled the Reserve Bank of India (RBI) to announce surprise measures with a retrospective approach. The increase in the cash reserve ratio (CRR) maintained by banks for the past period will halt the softening of yields temporarily, says India Ratings and Research (Ind-Ra). The 10-year G-sec yield could trade at 6.25%-6.35% (6.23% at close on 25 November 2016) through the week, with a possibility of a near-term cap at 6.4%. The rupee is likely to trade at 67.95/USD-68.85/USD (68.47 /USD at close on 25 November 2016).

CRR Hike to Suck out INR3.5trn: Ind-Ra believes that the measures are taken with an aim to blot out the excessive liquidity in the system triggered by denotification of currency notes; however it will deprive banks of the discretionary allocation of the deposits, constraining their ability to utilise these deposits and increasing the carrying cost. The move will mop up a substantial amount of liquidity (current liquidity surplus at around INR5.3trn) without the need of collateral or a higher cost from RBI.

Bond Yields to Spike: Ind-Ra believes the latest measures will act as a significant sentiment dampener, and also change the demand-supply balance in the system. The impact will be more visible at the shorter end of the curve. After the current measures, the markets expectation of a rate cut in the upcoming monetary policy review could also face a downward revision, further weighing down on the bond market. This could lead to the widening of spreads between G-sec and corporate bonds, as near term investor appetite will remain weak.

Rupee Weakness to Stay: Ind-Ra believes, in the event of hardening US treasury yields and buoyant financial sentiment in US, emerging market currencies are in period of correction, and the rupee will not be an exception. Foreign investors have been pulling out money from both debt and equity segments - with total net outflows clocking USD4.4bn in November 2016. Globally, the next non-farm payroll data will be critical prior to the Feds policy review in December. With near consensus among market participants about the Fed rate hike in the upcoming December policy, rupee weakness will continue in the near term. However, if volatility surges, potential intervention by RBI will rein in the rupee weakness.

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Pfizer moves higher after undertaking review of its respiratory portfolio
Nov 29,2016

The announcement was made after market hours yesterday, 28 November 2016.

Meanwhile, the S&P BSE Sensex was up 200.17 points or 0.76% at 26,550.34.

On the BSE, 1,152 shares were traded on the counter so far as against the average daily volumes of 2,553 shares in the past one quarter. The stock had hit a high of Rs 1,850 and a low of Rs 1,818 so far during the day. The stock had hit a 52-week high of Rs 2,540 on 7 December 2015. The stock had hit a 52-week low of Rs 1,611 on 21 March 2016. The stock had outperformed the market over the past one month till 28 November 2016, sliding 0.64% compared with the Sensexs 5.7% fall. The scrip had, however, underperformed the market in past one quarter, declining 7.04% as against the Sensexs 5.15% fall.

The mid-cap company has equity capital of Rs 45.75 crore. Face value per share is Rs 10.

Pfizer has undertaken a comprehensive review of its respiratory offerings to better cover a broader range of indications through an expanded product portfolio. As a result of this review, the company will launch additional products while it may also discontinue the manufacture of certain SKUs where needed.

Pfizer will be launching a series of products as line extensions under the Corex brand name, starting with the first launch in December 2016 and subsequent launches over the next year.

The company has also decided to discontinue the manufacturing of the current Corex Cough Syrup formulation (Codeine Phosphate 10mg + Chlorpheniramine Maleate 4mg).

Pfizer said it stands by the safety and efficacy of its current Corex Cough Syrup formulation that has been duly approved by Central and state regulators. As with this formulation, all additional line extensions will be introduced with all due regulatory approvals in place, it added.

Corex Cough Syrup recorded a sale of Rs 244.48 crore for the financial year ended 31 March 2016.

Pfizers net profit rose 52.5% to Rs 126.33 crore on 4.9% growth in net sales to Rs 530.02 crore in Q2 September 2016 over Q2 September 2015.

Pfizer is a leading biopharmaceutical company.

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Natco Pharma gains after USFDA approval for generic drug
Nov 29,2016

The announcement was made during trading hours today, 29 November 2016.

Meanwhile, the BSE Sensex was up 174.93 points, or 0.66%, to 26,525.10.

On BSE, so far 25,000 shares were traded in the counter, compared with average daily volume of 30,786 shares in the past one quarter. The stock hit a high of Rs 626 and a low of Rs 612.40 so far during the day. The stock hit a record high of Rs 703.95 on 25 August 2016. The stock hit a 52-week low of Rs 390 on 29 March 2016. The stock had outperformed the market over the past 30 days till 28 November 2016, rising 2.36% compared with the 5.66% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 10.65% as against Sensexs 7.03% decline.

The large-cap company has equity capital of Rs 34.86 crore. Face value per share is Rs 2.

Natco Pharma announced receiving final approval of Abbreviated New Drug Application (ANDA) containing a paragraph IV certification filed with the US Food and Drug Administration (USFDA) for generic version of Armodafinil tablets, 50 milligrams (mg), 150 mg, and 250 mg. Natco and its marketing partner Breckenridge Pharmaceutical, Inc., plan to launch this product in the US market immediately.

Cephalon (acquired by Teva in 2011) sells Armodafinil 50mg, 150mg, and 250mg tablets under brand name NUVUGIL in the US market. NUVUGIL is a wakefulness promoting agent for oral administration. NUVUGIL Tablets had US sales of approximately $480 million for twelve months ending December 2015, according to IMS Health.

On a consolidated basis, net profit of Natco Pharma rose 127.21% to Rs 66.55 crore on 75.56% rise in net sales to Rs 415.21 crore in Q2 September 2016 over Q2 September 2015.

Natco Pharma manufactures generic dosage forms, bulk actives and intermediates for the Indian and international markets.

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