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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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Motherson Sumi Systems provides ratings update for subsidiary
Jun 16,2017

Motherson Sumi Systems announced that Standard & Poors Global Ratings (S&P) has revised its outlook on Samvardhana Motherson Automotive Systems Group B.V., Netherlands, a subsidiary of Motherson Sumi Systems Limited (the Company) to positive from stable on improved financial metrics while affirming BB+ long-term corporate credit rating on Samvardhana Motherson Automotive Systems Group B.V.

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Board of Lawreshwar Polymers approves change in company secretary
Jun 16,2017

The Board of Directors of Lawreshwar Polymers at its meeting held on 07 June 2017 have decided to appoint Geetika Bisht as Company Secretary and Compliance Officer of the company with effect from 07 June 2017 in place of Priyanka Gattani.

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Edelweiss Financial Services gets ratings assigned for ST debt issue(s)
Jun 16,2017

Edelweiss Financial Services announced that CRISIL has assigned the rating of CRISIL A1+ (CRISIL A one plus) to the two proposed Short Term Debt Issue(s) having issue size of Rs. 4,000 each and one Issue of Rs. 5,000 of the Company.

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Deepak Fertilisers gains after getting pending subsidy payment
Jun 16,2017

The announcement was made after market hours yesterday, 15 June 2017.

Meanwhile, the S&P BSE Sensex was up 25.67 points, or 0.08% to 31,101.40.

On the BSE, 18,000 shares were traded in the counter so far, compared with average daily volumes of 4.27 lakh shares in the past one quarter. The stock had hit a high of Rs 273.35 and a low of Rs 268.50 so far during the day. The stock hit a record high of Rs 293.40 on 21 April 2017. The stock hit a 52-week low of Rs 150.20 on 24 June 2016.

The stock had outperformed the market over the past one month till 15 June 2017, rising 3.92% compared with 1.36% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 0.17% as against Sensexs 4.81% rise. The scrip had outperformed the market in past one year, rising 68% as against Sensexs 17.15% rise.

The small-cap company has equity capital of Rs 88.20 crore. Face value per share is Rs 10.

Deepak Fertilisers and Petrochemicals Corporation (DFPCL) said that the Department of Fertilisers (DoF), Ministry of Chemicals and Fertilisers, Government of India, has decided to release the pending Rs 310.52 crore fertiliser subsidy on a bank guarantee of equivalent amount. DoF had withheld the subsidy pending decision on recovery of alleged undue gain on account of supply of cheap gas.

Deepak Fertilisers and Petrochemicals Corporation (DFPCL) net profit surged 104.9% to Rs 46.62 crore on 4.7% decline in net sales to Rs 1050.50 crore in Q3 December 2016 over Q3 December 2015.

DFPCL has a multi-product portfolio spanning industrial chemicals, bulk and specialty fertilisers, farming diagnostics and solutions, technical ammonium nitrate, mining services and consulting and value added real estate.

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Gazi Financial Services& Investments to hold AGM
Jun 16,2017

Gazi Financial Services& Investments announced that the Annual General Meeting (AGM) of the company will be held on 30 September 2016.

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Insolvency and Bankruptcy Board of India notifies Fast Track Insolvency Resolution Process for Corporate Persons Regulations
Jun 16,2017

The Insolvency and Bankruptcy Board of India (IBBI), in exercise of its powers conferred by sections 58, 196 and 208 read with section 240 of the Insolvency and Bankruptcy Code, 2016 (Code), has notified the Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017. These regulations provide the process from initiation of insolvency resolution of eligible corporate debtors till its conclusion with approval of the resolution plan by the Adjudicating Authority. The process in these cases shall be completed within a period of 90 days, as against 180 days in other cases. However, the Adjudicating Authority may, if satisfied, extend the period of 90 days by a further period up to 45 days for completion of the process.

A creditor or a corporate debtor may file an application, along with the proof of existence of default, to the Adjudicating Authority for initiating fast track resolution process. After the application is admitted and the interim resolution professional (IRP) is appointed, if the IRP is of the opinion, based on the records of corporate debtor, that the fast track process is not applicable to the corporate debtor, he shall file an application before expiry of 21 days from the date of his appointment, to Adjudicating Authority to pass an order to convert the fast track process into a normal corporate insolvency resolution process.

The Ministry of Corporate Affairs has notified the relevant sections 55 to 58 of the Insolvency and Bankruptcy code,2016 pertaining to the Fast Track Process and also notified that fast track process shall apply to the following categories of corporate debtors:

n++ a small company, as defined under clause (85) of section 2 of the Companies Act, 2013; or

n++ a Startup (other than the partnership firm), as defined in the notification dated 23rd May, 2017 of the Ministry of Commerce and Industry; or

n++ an unlisted company with total assets, as reported in the financial statement of the immediately preceding financial year, not exceeding Rs.1 crore.

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Pennar Industries crawls up on plans to set up JV in US
Jun 16,2017

The announcement was made after market hours yesterday, 15 June 2017.

Meanwhile, the S&P BSE Sensex fell 6.04 points or 0.02% to 31,069.69. The S&P BSE Small-Cap index rose 44.21 points or 0.28% to 15,690.10.

On the BSE, 62,673 shares were traded in the counter so far, compared with average daily volumes of 1.34 lakh shares in the past one quarter. The stock had hit a high of Rs 56.80 and a low of Rs 55.80 so far during the day. The stock had hit a 52-week high of Rs 58 on 13 June 2017. The stock had hit a 52-week low of Rs 39.50 on 21 November 2016.

The stock had outperformed the market over the past one month till 15 June 2017, rising 12.36% compared with 2.49% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 27.61% as against Sensexs 5.71% rise. The scrip had outperformed the market in past one year, gaining 24.72% as against Sensexs 16.27% rise.

The small-cap company has equity capital of Rs 60.17 crore. Face value per share is Rs 5.

Pennar Industries said that the company and Pennar Engineered Building Systems intend to set up a 50:50 joint venture (JV) in United States of America to supply their goods and services.

The JV will help both the companies to increase their addressable market and contribute to an increase in revenue and profitability.

On 13 June 2017, the company had said it received orders worth Rs 255 crore.

On a consolidated basis, net profit of Pennar Industries rose 10.8% to Rs 18.02 crore on 32.6% rise in net sales to Rs 464.87 crore in Q4 March 2017 over Q4 March 2016.

Pennar Industries offers specialized, engineered steel solutions. The company has a strong presence across growth sectors in India through four business units, steel products, tubes, industrial components and systems & projects, and its subsidiary companies, Pennar Engineered Building Systems, Pennar Renewables and Pennar Enviro.

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Pennar Industries crawls up on plans to set up JV
Jun 16,2017

The announcement was made after market hours yesterday, 15 June 2017.

Meanwhile, the S&P BSE Sensex fell 6.04 points or 0.02% to 31,069.69. The S&P BSE Small-Cap index rose 44.21 points or 0.28% to 15,690.10.

On the BSE, 62,673 shares were traded in the counter so far, compared with average daily volumes of 1.34 lakh shares in the past one quarter. The stock had hit a high of Rs 56.80 and a low of Rs 55.80 so far during the day. The stock had hit a 52-week high of Rs 58 on 13 June 2017. The stock had hit a 52-week low of Rs 39.50 on 21 November 2016.

The stock had outperformed the market over the past one month till 15 June 2017, rising 12.36% compared with 2.49% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 27.61% as against Sensexs 5.71% rise. The scrip had outperformed the market in past one year, gaining 24.72% as against Sensexs 16.27% rise.

The small-cap company has equity capital of Rs 60.17 crore. Face value per share is Rs 5.

Pennar Industries said that the company and Pennar Engineered Building Systems intend to set up a 50:50 joint venture (JV) in United States of America to supply their goods and services.

The JV will help both the companies to increase their addressable market and contribute to an increase in revenue and profitability.

On 13 June 2017, the company had said it received orders worth Rs 255 crore.

On a consolidated basis, net profit of Pennar Industries rose 10.8% to Rs 18.02 crore on 32.6% rise in net sales to Rs 464.87 crore in Q4 March 2017 over Q4 March 2016.

Pennar Industries offers specialized, engineered steel solutions. The company has a strong presence across growth sectors in India through four business units, steel products, tubes, industrial components and systems & projects, and its subsidiary companies, Pennar Engineered Building Systems, Pennar Renewables and Pennar Enviro.

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Century Plyboards (India) gains after unit buys stake in Huesoulin Wood Processing Factory
Jun 16,2017

The announcement was made after market hours yesterday, 15 June 2017.

Meanwhile, the S&P BSE Sensex was up 9.11 points, or 0.03% to 31,084.84.

On the BSE, 19,000 shares were traded in the counter so far, compared with average daily volumes of 27,035 shares in the past one quarter. The stock had hit a high of Rs 312.95 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 307.65 so far during the day. The stock hit a 52-week low of Rs 154.50 on 22 December 2016.

The stock had outperformed the market over the past one month till 15 June 2017, rising 14.04% compared with 1.36% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 25.62% as against Sensexs 4.81% rise. The scrip had also outperformed the market in past one year, rising 52.93% as against Sensexs 17.15% rise.

The mid-cap company has equity capital of Rs 22.22 crore. Face value per share is Re 1.

Century Plyboards (India) said its subsidiary, Century Ply (Singapore), in Singapore has acquired 49% stake in Huesoulin Wood Processing Factory Company, thereby making it an associate company. Huesoulin Wood Processing Factory Company is engaged in manufacturing and trading in plywood, veneer and all wood products and providing related services.

Net profit of Century Plyboards (India) rose 34.4% to Rs 55.91 crore on 9.3% rise in net sales to Rs 488.54 crore in Q4 March 2017 over Q4 March 2016.

Century Plyboards (India) is the largest seller of multi-use plywood and decorative veneers in the Indian organized plywood market.

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Rane Holdings zooms 57% in twelve sessions
Jun 16,2017

Meanwhile, the S&P BSE Sensex was up 40.11 points, or 0.13% at 31,115.84. The S&P BSE Small-Cap index was up 58.76 points, or 0.38% at 15,704.65.

On the BSE, 6,675 shares were traded on the counter so far as against the average daily volumes of 4,854 shares in the past two weeks. The stock had hit a high of Rs 1,793.95 so far during the day, which is also its record high. The stock hit a low of Rs 1,640 so far during the day. The stock had hit a 52-week low of Rs 575 on 20 June 2016.

Shares of Rane Holdings surged 57% in twelve trading sessions to its current ruling price of Rs 1,763.35, from a close of Rs 1,123.10 on 30 May 2017.

Rane Holdings consolidated net profit spurted 98.9% to Rs 43.56 crore on 23.6% increase in total income to Rs 859.35 crore in Q4 March 2017 over Q4 March 2016.

Rane Holdings is the holding company of the Chennai-based Rane Group, an acknowledged leader in the manufacture of auto components.

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Sun TV Network launches Sun NXT
Jun 16,2017

Sun TV Network has launched the all new digital content platform Sun NXT enabling customers to watch their popular TV programmes in Tamil, Telugu, Malayalam and Kannada anytime and anywhere on their favourite devices.

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Bajaj Electricals gets ratings assigned for Commercial Paper programme
Jun 16,2017

Bajaj Electricals has assigned the rating of [ICRA]A1+ (pronounced ICRA A one plus) to the Companys Commercial Paper (CP) Programme for an enhanced amount of Rs.500 crore.

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Pricol gets reaffirmation of credit ratings
Jun 16,2017

Pricol announced that ICRA has reaffirmed the rating of the credit facilities as reaffirmed on watch with developing implications to the Company.

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RIL nudges higher after expanding partnership with BP
Jun 16,2017

The announcement was made after market hours yesterday, 15 June 2017.

Meanwhile, the S&P BSE Sensex was up 1.74 points, or 0.01% to 31,077.47.

On the BSE, 4.07 lakh shares were traded in the counter so far, compared with average daily volumes of 66.56 lakh shares in the past one quarter. The stock had hit a high of Rs 1,395 and a low of Rs 1,370.10 so far during the day. The stock had hit a 52-week high of Rs 1,465 on 25 April 2017. The stock had hit a 52-week low of Rs 932 on 9 November 2016.

The stock had outperformed the market over the past one month till 15 June 2017, gaining 3.04% compared with 2.49% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 6.14% as against Sensexs 5.71% rise. The scrip had outperformed the market in past one year, rising 40.93% as against Sensexs 16.27% rise.

The large-cap company has equity capital of Rs 3251.57 crore. Face value per share is Rs 10.

Reliance Industries (RIL) and BP announced that they are moving forward to develop already-discovered deepwater gas fields, bringing new gas production for India. The two companies have agreed to deepen and expand their partnership to work jointly across a wide range of areas throughout Indias energy sector.

RIL and BP announced that they will award contracts to progress development of the R-Series deep water gas fields in Block KGD6 off the east coast of India. The R-series (D34) project is a dry gas development in water-depths of more than 2,000 metres, approximately 70 kilometres offshore. The R-series fields will be developed as a subsea tieback to the existing control and riser platform off Block KGD6. The project is expected to produce up to 12 million cubic metres (425 million cubic feet) of gas a day, coming on stream in 2020.

This is the first of three planned projects in Block KGD6 that are expected to be developed in an integrated manner, producing from about 3 trillion cubic feet of discovered gas resources. RIL and BP plan to submit development plans for the next two projects for Government approval before the end of 2017. Development of the three projects, with total investment of Rs 40000 crore ($6 billion), is expected to bring a total 30-35 million cubic metres (1 billion cubic feet) of gas a day new domestic gas production onstream, phased over 2020-2022.

India today consumes over 5 billion cubic feet a day of natural gas and aspires to double gas consumption by 2022. Gas production from the integrated development is expected to help reduce Indias import dependence and amount to over 10% of the countrys projected gas demand in 2022; benefiting India and domestic consumers at large.

Additionally, RIL and BP will expand their existing partnership for strategic cooperation on new opportunities across Indias energy sector. Under the agreement the two companies will jointly explore options to develop differentiated fuels, mobility and advanced low carbon energy businesses in India, as India transitions to a low-carbon world.

The companies expect to collaborate, in addition to the conventional transportation and aviation fuels retailing, on unconventional mobility solutions, addressing electrification, digitization and disruptive mobility trends. Together, these collaborations will seek to address the mobility needs of urban, rural/farm, industrial/commercial, and highway consumers in India, applying the leading capabilities of both partners.

In an historic partnership with RIL in 2011, BP took a 30% stake in multiple oil and gas blocks in India operated by RIL, including the producing Block KGD6. Block KGD6 participating interests are 60% RIL (operator), 30% BP and 10% by NIKO.

Gas produced over the life of these three new projects could generate up to $20 billion in import substitution (at current imported LNG prices) and employment of up to 20,000 skilled labour during the construction period over the next 5 years.

On a consolidated basis, net profit of RIL rose 11.5% to Rs 8053 crore on 42.1% rise in net sales to Rs 84823 crore in Q4 March 2017 over Q4 March 2016.

RIL is Indias largest private sector company. RILs activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and telecommunications.

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Astrazeneca Pharma India gains after DCGI nod for asthma drug
Jun 16,2017

The announcement was made after market hours yesterday, 15 June 2017.

Meanwhile, the S&P BSE Sensex was up 15.81 points, or 0.05% to 31,091.54.

On the BSE, 2,453 shares were traded in the counter so far, compared with average daily volumes of 4,977 shares in the past one quarter. The stock had hit a high of Rs 955.65 and a low of Rs 930 so far during the day. The stock hit a 52-week high of Rs 1,146.95 on 24 August 2016. The stock hit a 52-week low of Rs 909 on 27 February 2017.

The stock had underperformed the market over the past one month till 15 June 2017, falling 5.30% compared with 1.36% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 2.92% as against Sensexs 4.81% rise. The scrip had also underperformed the market in past one year, falling 14.72% as against Sensexs 17.15% rise.

The small-cap company has equity capital of Rs 5 crore. Face value per share is Rs 2.

AstraZeneca Pharma India said it received import and market permission in Form 45 (marketing authorization) from the Drug Controller General of India for fixed-dose combination (FDC) of Budesonide 320 n++g +Formoterol Fumarate Dihydrate 9 n++g inhalation powder.

FDC of Budesonide 320 n++g + Formoterol Fumarate Dihydrate 9 n++g inhalation powder (Symbicort Turbuhaler 320/9 n++g) is a product of AstraZeneca global and is indicated in the regular treatment of Asthma where use of combination of inhaled regular corticosteroid & long acting n++-agonist is appropriate and patients with moderate to severe chronic obstructive pulmonary disease (COPD) with frequent symptoms and a history of exacerbations.

Astrazeneca Pharma India reported net loss of Rs 2.88 crore in Q4 March 2017 as against net profit of Rs 0.56 crore in Q4 March 2016. Net sales declined 16.90% to Rs 110.95 crore in Q4 March 2017 over Q4 March 2016.

AstraZeneca Pharma India is a subsidiary of AstraZeneca Plc, UK. It covers manufacturing, sales and marketing activities of the company in India. The company has an innovative portfolio in crucial areas of healthcare including cardiovascular and & metabolic diseases, oncology and respiratory.

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