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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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Viceroy Hotels appoints director
Mar 15,2017

Viceroy Hotels announced that the Board of Directors have, vide circular resolution dated 13 March 2017 appointed Rajesh Katragadda as an Additional Director (Non - Executive, Independent) with effect from 13 March 2017, to hold office upto the date of the ensuing Annual General Meeting of the Company. Appointment of Rajesh Katragadda as Independent Director is subject to approval of shareholders and the term of office shall be five years from the date of such appointment by the shareholders at the ensuing Annual General Meeting.

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Lanco Infratech allots 56,47,37,202 equity shares
Mar 15,2017

Lanco Infratech announced that the Board of Directors on 14 March 2017 passed Resolutions for allotment of Equity Shares of Re.1/- each at a price of Rs.6.23/- per Equity Share as detailed below:-

a. 51,59,77,343 Equity Shares to IDFC Bank upon conversion of Compulsorily Convertible Debentures (CCDs) of Rs.321,45,38,850/- and

b. 4,87,59,859 Equity Shares to IDFC Bank upon conversion of interest of Rs.30,37,73,921 (Net of TDS) on above referred Compulsorily Convertible Debentures (CCDs).

Consequent to the above allotment(s), the Paid-up Share Capital of the Company stands increased from Rs.274,93,26,655/- divided into 274,93,26,655 Equity Shares having face value of Re.1/- each to Rs.331,40,63,857/- divided into 331,40,63,857 Equity Shares having face value of Re.1/- each.

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Engineers India gains on buyback plan
Mar 15,2017

The announcement was made after market hours yesterday, 14 March 2017.

Meanwhile, the S&P BSE Sensex was down 30.76 points, or 0.10% to 29,411.87.

On the BSE, 73,000 shares were traded in the counter so far, compared with average daily volumes of 3.82 lakh shares in the past one quarter. The stock had hit a high of Rs 151.60 and a low of Rs 149.15 so far during the day.

The stock hit a 52-week high of Rs 169.90 on 29 December 2016. The stock hit a 52-week low of Rs 79.18 on 16 March 2016.

The stock had underperformed the market over the past one month till 14 March 2017, falling 2.47% compared with 3.85% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 3.03% as against Sensexs 10.67% rise.

The mid-cap company has equity capital of Rs 336.94 crore. Face value per share is Rs 5.

Net profit of Engineers India rose 25.59% to Rs 84.99 crore on 11.77% decline in net sales to Rs 325.01 crore in Q3 December 2016 over Q3 December 2015.

State-run Engineers India provides engineering consultancy and engineering, procurement and construction (EPC) services. The Government of India holds 58.87% in Engineers India (as per shareholding pattern as on 31 December 2016).

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Mandatory for Hospitals to issue detailed bills to patients, separately disclosing cost of Coronary Stents
Mar 15,2017

Minister of State for Chemicals & Fertilizers, Road Transport & Highways and Shipping, Shri Mansukh L. Mandaviya, said that the National Pharmaceuticals Pricing Authority (NPPA), under Ministry of Chemicals & Fertilizers, has directed hospitals to issue detailed bills to the patients, specifically and separately mentioning the cost of the Coronary Stents, along with the brand name of the manufacturer and importer, batch number and other details.

Shri Mandaviya informed that non-compliance thereof will be treated as deliberate distortion of evidence along with charges of overpricing inviting prosecution under the Essential Commodities Act. The Minister said that the Government, through NPPA, is closely monitoring the situation and has alerted the State Governments and State Drugs Controllers to monitor the availability of stents. Industry has also been apprised that all manufactures and importers are under legal obligation to maintain smooth production and supply of coronary stents of all brands which were available in the country before price cap, he added.

All State Governments and State Drug Controllers have been advised to exercise the power of entry, search and seizure as per Para 30 of Drugs Price Control Order (DPCO), 2013 if manufacturers, importers or distributors try to create artificial shortage of stents. Government has had two rounds of discussions with the Stent companies, which in turn have promised required level of availability.

Further, Shri Mandaviya informed that aggrieved persons may send verifiable information and complaints regarding this on NPPA Help Line No. 1800111255 or through online complaint mechanism Pharma Jan Samadhan.

NPPA notified the ceiling price of Coronary Stents on 13th February 2017 at Rs. 7,260 for Bare Metal Stent (BMS) and Rs. 29,600 for Drug Eluting Stents (DES) including metallic DES and Bioresorbable Vascular Scaffold (BVS)/ Biodegradable Stents. The average MRP before this notification was Rs. 45,100 for BMS and Rs. 1,21,400 for DES. Price regulation has brought down the prices of stents of BMS by 74% and of DES by 85%.

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Speciality Restaurants provides operations update
Mar 15,2017

Speciality Restaurants has temporarily suspended the operations of Mainland China franchise restaurant located Srinivas Towers, NBR 5 Centhop Road, Chennai with effect from 13 March 2017.

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Sambhaav Media allots 8010000 equity shares
Mar 15,2017

Sambhaav Media announced that the Board of Directors of the Company have by way of circular resolution made allotment of 8010000 (Eighty Lac and Ten Thousand Only) equity shares of Re. 1/- each at an issue price of Rs. 5/- per shares (including premium of Rs. 4/- per share) to these warrant holders. Upon allotment of these equity shares; the paid up equity share capital of the Company is increased to Rs. 16,29,20,840/- (Rupees Sixteen Crore Twenty Nine Lac Twenty Thousand Eight Hundred and Forty Only) comprising of 162920840 equity shares of Re 1/- each. Subsequent to this allotment, the shareholding of the Promoter and Promoter Group has increased to 64.80% of the enhanced paid up equity share capital of the Company.

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Aditya Birla Fashion & Retail allots 26,765 equity shares
Mar 15,2017

Aditya Birla Fashion & Retail has allotted 26,765 Equity Shares of Rs.10 each ), pursuant to exercise of Stock Options under the Employee Stock Options Scheme-2013.

The said Shares will rank pari passu with the existing Equity Shares of the Company in all respects. Consequent to the above allotment, the Paid-up Share Capital of the Company will increase from Rs. 770,50,03,890 (77,05,00,389 Fully Paid-up Equity Shares of Rs. 10/- each) to Rs. 7,70,52,71,540 (77,05,27,154 Fully Paid-up Equity Shares of Rs. 10/- each).

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Can Fin Homes announces change in Promoter shareholding
Mar 15,2017

Can Fin Homes announced the following -

Caladium Investment, Singapore has acquired 13.45% of equity shares of the Company (35,80,849 nos.) on 10 March 2017.

Canara Bank, the Promoter of the Company has sold 35,80,849 equity shares (13.45%) of the Company and after the sale the shareholding of the Promoter Bank in the Company has reduced to 30% (79,86,358 nos.).

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Rolta India allots 1,74,980 equity shares
Mar 15,2017

Rolta India has allotted 1,74,980 equity shares under Employees Stock Option Plan. Consequent to the said allotment, the paid-up equity share capital of the Company stands 16,42,71,362 equity shares of Rs.10/- each aggregating to the paid up Capital of Rs.164,27,13,620.

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Talwalkars Better Value Fitness signs MoU to acquire Force Fitness India (SNAP)
Mar 15,2017

Talwalkars Better Value Fitness (TBVF) has signed a Memorandum of Understanding to acquire 50.01% equity shares of Force Fitness India (SNAP), Indias third largest gym company and the exclusive master franchise in India of Snap Fitness Inc..

TBVF to invest 50.01% equity in SNAP largely through injection of funds in SNAP for growth.

Snap Fitness Inc is the worlds premier 24/7 fitness 2,000 clubs open or in development in 18 countries.

SNAP has over 60 gyms open or under development covering the major cities of Bangalore, Delhi, Chennai, Hyderabad, Mumbai, Pune, Lucknow, Vadodara, Guwahati, Mysore and smaller cities like Tumkur, Davangere.

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Indiabulls Ventures provides update on subsidiary - Indiabulls Distribution Services
Mar 15,2017

Indiabulls Ventures announced that its subsidiary Indiabulls Distribution Services has signed a definitive agreement to sell its 100% shareholding in India Land and Properties at a consideration of Rs. 685 crores, to Indiabulls Infrastructure, a wholly owned subsidiary of Indiabulls Real Estate. The deal is expected to be completed in the current financial year.

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Indiabulls Real Estate provides update on subsidiary - Indiabulls Infrastructure
Mar 15,2017

Indiabulls Real Estate announced that its subsidiary, Indiabulls Infrastructure has signed a definitive agreement to acquire 100% share capital of India Land and Properties (ILPL), for an aggregate consideration of Rs.685 crore, from Indiabulls Distribution Services (a WOS of Indiabulls Ventures), and the deal is expected to be completed in the current financial year, post completion of the deal ILPL will become 100% WOS of the Company.

ILPL owns a commercial complex of 3 towers with total constructed area of 2.67 mn Sq. ft and leasable area of 1.94 mn Sq.ft, spread over total land of over 8.84 acres at Ambattur Industrial Estate, Chennai. Some of the lessees of these towers are RBS, Yes Bank, Kone, Ajuba, Covenant, MSC service centre, HGS, Access Healthcare etc. The said complex has been designed in compliance to the National Building Codes by internationally acclaimed ZAHA HADID, UK, Laureate Pritzker Prize Winner (2004) and its a GOLD rated GREEN Building.

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TCS will be watched after Israels Bank Yahav deploys TCS BaNCS
Mar 15,2017

TCS announced that its customer, Bank Yahav, is successfully operational with the TCS BaNCS Univeral Banking platform, in a first of its kind for the Israeli market. The announcement was made after market hours yesterday, 14 March 2017.

Wipro announced the launch of the Wipro HOLMES Cloud BOT - a continuously learning digital consultant, that leverages Wipros BoundaryLess Data Center solution. The Wipro HOLMES Cloud BOT uses a gamified natural language processing (NLP)-based chat interface to have an intelligent interaction with stakeholders to enrich the data for cloud analysis. The announcement was made after market hours yesterday, 14 March 2017.

Larsen & Toubro (L&T) said that L&T Realty has executed share purchase deal for selling its entire stake of 51% in L&T South City Projects to Pragnya Group for a consideration of Rs 190 crore. L&T South City Projects is engaged in the development of a 92-acre residential township at Siruseri, Chennai. The announcement was made after market hours yesterday, 14 March 2017.

Engineers India said that its board will meet on Monday, 20 March, 2017, to consider the proposal for buyback of fully paid up equity shares of the company. The announcement was made after market hours yesterday, 14 March 2017.

Tata Chemicals announced that the Central Pollution Control Board (CPCB) has directed the company to shut down its fertilizer plant in Haldia (West Bengal) for violating liquid waste discharge rules. The CPCB directive follows an analysis of the companys samples, which showed a non-compliance in effluent discharge norms. The company said that it has written to the CPCB to rescind the order after an independent lab confirmed that its samples comply with prescribed norms. The company told the CPCB that the report by the independent lab was also approved by the West Bengal Pollution Control Board and the ministry of environment and forests. The announcement was made after market hours yesterday, 14 March 2017.

Bank of Baroda (BoB) said that the capital raising committee of the board approved raising funds through issuance of Basel III compliant Additional Tier-I bonds (perpetual debt instrument) amounting to Rs 500 crore with green shoe option of Rs 500 crore. In a stock exchange notification, the bank said the issuance will be on private placement basis depending on market conditions. The announcement was made after market hours yesterday, 14 March 2017.

TVS Motor Company said it has launched its BSIV compliant TVS Jupiter and added two new colours - Jade Green and Mystic Gold. The refreshed scooter is now BSIV compliant, with auto headlamp on (AHO) and equipped with sync braking system (SBS). The announcement was made after market hours yesterday, 14 March 2017. SBS ensures rider safety as it automatically activates the front brakes when the rear brakes are used. The feature, previously available on ZX range will now be available on the base variant as well, TVS Motor said. There is no revision in the prices for the BSIV models of Jupiter, priced at Rs 49,666 (ex-showroom Delhi), the scooter is available across all TVS dealerships, the company said.

Rupa & Company announced that Oban Fashions, one of the companys subsidiaries, concluded a deal with the US-based Fruit of the Loom Inc, a unit of Warren Buffets Berkshire Hathaway Co., to manufacture and sell products in India under the US companys brands. Fruit of the Loom sells a wide range of underwear and casual wear in the US and Europe. The announcement was made after market hours yesterday, 14 March 2017.

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Asia Pacific Market: Stocks mixed before key policy meetings
Mar 14,2017

Asia Pacific share market closed mixed in cautious trade on Tuesday, 14 March 2017, as cautious traders refrained from making big bets ahead of a series of global risk events this week. The MSCI Asia Pacific excluding Japan Index rose 0.3%

The market has been keeping an eye on several developments this week. U.K. lawmakers on Monday removed the final hurdle to the prime ministers plan to start talks on the countrys departure from the European Union. The Netherlands is set to hold national elections Wednesday. That same day, the U.S. central bank is widely expected to tighten the monetary policy after the conclusion of its policy meeting and possibly signal faster interest-rate increases in coming months , while the Bank of Japan, Norges Bank and Bank of England also meet this week. Closing out the busy schedule, Group of 20 finance ministers will meet in Germany on March 17-18.

The focus is the Feds meeting this week. Expectations that the Fed will raise rates this month have soared in recent weeks amid a slew of upbeat speeches from Fed officials. Fridays better-than-expected jobs report confirmed the central banks case for raising rates at the meeting. With a rate increase already priced into markets, investors will focus on the Feds press conference and interest-rate projections, called the dot plot.

Among Asian bourses

Australia Stocks edge higher

Australian equity market finished slight higher, as gains in the resources and energy sectors offset weakness among banks, healthcare companies and utilities. At the close, the benchmark S&P/ASX 200 index added 1.80 points, or 0.03%, of 5,759.10, while the broader All Ordinaries index grew 3.50 points, or 0.06%, to 5,798.10.

Shares of material sector performed strongly, on the back of 1.8% jump in spot iron ore to $88.26 a tonne overnight. Sentiment among miners was boosted by a continuing recovery in Chinese steel and iron ore futures, which were both up more than 3% in afternoon trade after a spike in Chinese property sales in the first two months of the year suggested steel demand will remain supported. Among index heavyweights, BHP added 0.85%, South32 gained 2.9% and Fortescue rose 1.5%, while Whitehaven Coal rallied 4.6%.

Energy stocks gained as crude oil remained steady in Asian trade after dropping sharply in recent days on indications that U.S. production is ramping up. Among energy stocks, Woodside Petroleum was ahead 0.7%, Oil Search nudged up 0.2% and Santos gained 1.1%.

Senex Energy jumped 6.2%, after the oil and gas explorer said it will commence drilling of a gas exploration well in the South Australian Cooper Basin, targeting substantial gas volumes.

Shares of Brickworks jumped 7.4% after broker Bell Potter called the stock the cheapest building materials exposure in the market and upgraded it to buy.

Nikkei falls 0.12%

The Japan share market finished lower, as investors took their cash off the table after the benchmark indices hit 15-month intraday high and due to caution before US Federal Reserves two-day meeting, where officials are expected to lift rates for just the third time in the past decade. At the close, the benchmark Nikkei 225 index slipped 0.12%, or 24.25 points, to finish at 19,609.50, while the Topix index of all first-section issues fell 0.16%, or 2.50 points, to 1,574.90.

Real-estate and steel stocks led decliners Tuesday, though selling wasnt aggressive. Mitsubishi Estate fell 1.3% to Y2,190.5. Mitsui Fudosan lost 1.1% to Y2,554.5. Steelmaker JFE Holdings dropped 1.0% to Y2,032. Nippon Steel & Sumitomo Metal shed 0.8% to Y2,711.

Mega-bank groups Mitsubishi UFJ, Mizuho and Sumitomo Mitsui, and brokerage firm Nomura, were downbeat. Automaker Toyota met with selling due to growing concern that a proposed border tax may be included in Trumps budget proposal to be submitted on Thursday. Other major losers included JFE Holdings, Japan Tobacco, Nintendo and Bridgestone.

Toshiba ended higher after diving more than 8% on worries about delisting. The struggling electronics and machinery maker on Tuesday filed for approval to postpone for the second its April-December 2016 earnings report.

Insurers Tokio Marine and Sompo Holdings were buoyant on the back of hopes for improved earnings following an overnight rise in U.S. long-term interest rates. Also on the plus side were mobile phone carrier SoftBank, food maker Nippon Suisan and drugmaker Takeda.

China Stocks up solid economic data

Headline equities of the Mainland China market ended mostly higher, as January to February economic data painted a rosier picture of the worlds second largest economy. But gains were capped amid caution ahead of a series of global risk events later this week. The Shanghai Composite Index closed the day up 0.76% at 3,237.02, while the CSI 300 - which tracks the large caps listed in Shanghai and Shenzhen - was up 0.88% at 3,458.10. The Shenzhen Composite Index dropped 0.14% to 2,027.11. The tech-heavy ChiNext declined 0.65% to 1,958.02.

Chinas industrial output grew by 6.3% in the first two months of the year, from the same period a year before, fixed asset investment grew 8.9% on-year. Private investment rose by 6.7% from 3.2% in the same period last year. Retail sales grew 9.5% in January and February on-year.

Real estate stocks advanced 1.2%, led by industry heavyweight China Vanke Co up 4.2% to 21.57 yuan, and China Calxon Group up 3.1% to 8.26 yuan after data showed Chinas property sales surged despite government measures to cool the market.

Cement producers and steel makers advanced broadly, boosted by a set of upbeat economic data, with Huaxin Cement rising 4.7% to 9.81 yuan, Anhui Conch Cement up 3.7% to 21.17 yuan, and Hebei Iron & Steel higher by 1.8% to 3.91 yuan. The sectors were boosted by a set of upbeat economic data released on Tuesday.

Banking stocks barely moved, as Goldman Sachs updated China stocks to overweight with a bullish view on Chinas banking sector, citing improving credit outlook and growing loan pricing power.

Hong Kong Stocks mixed

The Hong Kong stock market closed mixed, as many investors stayed on the sidelines ahead of the Federal Reserves two-day monetary policy meeting and as European political uncertainty weighs on sentiment. Investors were awaiting the outcome of the Federal Reserves rate-setting meeting on March 14-15, policy decisions by the Bank of England and Bank of Japan, and also keeping an eye on the Dutch general election and shaky oil prices. The Hang Seng Index closed down 0.01%, or 1.72 points, to 23,827.95, while the Hang Seng China Enterprises index gained 0.55%, or 56.52 points, to 10,315.23. Turnover decreased sharply to HK$72 billion from HK$86.5 billion on Monday.

The focus is the Feds meeting this week. Its almost certain that a rate increase will take place. But the key is whether the Fed will give a forecast of rate rises this year. Hong Kong stocks will face downward pressure if the Fed signals quicker rate rises in their meeting tomorrow. Hong Kong stocks will face downward pressure if the Fed signals quicker rate rises in their meeting tomorrow. Markets expectations for a 25-basis-point rate increase

The northbound quota balance of the Shanghai-HK Connect program was RMB13.838 billion, surpassing the daily allowed quota of RMB13 billion. It meant net outflow of RMB838 million. The southbound quota balance was RMB9.046 billion, accounting for 86.2% of the daily allowed quota of RMB10.5 billion.

As for the Shenzhen-HK Connect, the northbound quota balance was RMB13.049 billion, surpassing the daily allowed quota of RMB13 billion. It meant net outflow of RMB49 million. The southbound quota balance was RMB9.846 billion, accounting for 93.8% of the daily allowed quota of RMB10.5 billion.

Property counters were lower as a Fed hike in March is all but certain. K Wah (00173) surged 8% to HK$4.78. Wheelock (00020) put on 3% to HK$57.2. New World (00017) and SHKP (00016) dipped 1-2% to HK$9.8 and HK$112.1.

JP Morgan forecast Macaus March gross gaming revenues growth of 10-15%. Galaxy Entertainment (00027) gained 2% to HK$39.5. Sands China (01928) climbed 2% to HK$34.45.

Wynn Macau (01128) shot up 3% to HK$14.84. Want Want (00151) fell 1% to HK$5.08 after it reported 2016 earnings growth of 4% to RMB3.52 billion. Sunny Optical (02382) sank 4% to HK$55.1 even though its 2016 net grew 67% to RMB1.27 billion.

Indian Market surges 1.71%

Indian equity markets registered a solid rally triggered by Bharatiya Janata Partys (BJP) impressive show in the recently held assembly elections in five states. Investors cheered the spectacular show by BJP in Uttar Pradesh, a politically crucial state. The barometer index, the S&P BSE Sensex, jumped 496.40 points or 1.71% to settle at 29,442.63. The Nifty 50 index surged 152.45 points or 1.71% to settle at 9,087. Data showing a recovery in industrial production in January also boosted sentiment. Key indices remained firm throughout the session after witnessing a gap-up opening.

The election results could provide a much needed boost to the ruling BJP at the centre to accelerate the pace of reforms, including the rollout of the crucial Goods and Services Tax (GST), slated to be implemented from 1 July 2017.

Bank stocks rose. Capital goods stocks gained in firm market. Realty stocks also advanced.

ACC edged higher after the company said it sold its entire 12.13% stake in Shiva Cement at Rs 38.66 crore to JSW Cement. Shares of Coal India tumbled on turning ex-dividend today, 14 March 2017. Power Grid Corporation of India advanced after the company said that its board of directors accorded approval for various investment proposals aggregating to Rs 1197.10 crore.

Sun Pharmaceutical Industries rose after the company said that US Food and Drug Administration will lift the import alert imposed on the companys Mohali facility.

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Australia Stocks edge higher
Mar 14,2017

Australian equity market finished slight higher on Tuesday, 14 March 2017, as gains in the resources and energy sectors offset weakness among banks, healthcare companies and utilities. At the close, the benchmark S&P/ASX 200 index added 1.80 points, or 0.03%, of 5,759.10, while the broader All Ordinaries index grew 3.50 points, or 0.06%, to 5,798.10.

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