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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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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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Himachal Futuristic Communications standalone net profit declines 60.51% in the September 2016 quarter
Nov 29,2016

Net profit of Himachal Futuristic Communications declined 60.51% to Rs 24.89 crore in the quarter ended September 2016 as against Rs 63.03 crore during the previous quarter ended September 2015. Sales declined 29.62% to Rs 413.47 crore in the quarter ended September 2016 as against Rs 587.52 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales413.47587.52 -30 OPM %9.7912.68 - PBDT28.1469.21 -59 PBT24.8962.76 -60 NP24.8963.03 -61

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Cox & Kings consolidated net profit declines 76.63% in the September 2016 quarter
Nov 29,2016

Net profit of Cox & Kings declined 76.63% to Rs 27.32 crore in the quarter ended September 2016 as against Rs 116.91 crore during the previous quarter ended September 2015. Sales rose 11.70% to Rs 2557.84 crore in the quarter ended September 2016 as against Rs 2289.91 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales2557.842289.91 12 OPM %7.3513.83 - PBDT137.80270.59 -49 PBT115.51243.03 -52 NP27.32116.91 -77

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Jayaswal Neco Industries reports standalone net loss of Rs 99.04 crore in the September 2016 quarter
Nov 29,2016

Net Loss of Jayaswal Neco Industries reported to Rs 99.04 crore in the quarter ended September 2016 as against net loss of Rs 3.34 crore during the previous quarter ended September 2015. Sales declined 12.20% to Rs 630.50 crore in the quarter ended September 2016 as against Rs 718.09 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales630.50718.09 -12 OPM %14.719.25 - PBDT-36.0723.43 PL PBT-101.084.88 PL NP-99.04-3.34 -2865

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Cox & Kings standalone net profit declines 16.31% in the September 2016 quarter
Nov 29,2016

Net profit of Cox & Kings declined 16.31% to Rs 34.32 crore in the quarter ended September 2016 as against Rs 41.01 crore during the previous quarter ended September 2015. Sales rose 8.72% to Rs 714.82 crore in the quarter ended September 2016 as against Rs 657.50 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales714.82657.50 9 OPM %7.689.46 - PBDT62.8765.99 -5 PBT56.8558.63 -3 NP34.3241.01 -16

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Hindustan Composites standalone net profit declines 31.96% in the September 2016 quarter
Nov 29,2016

Net profit of Hindustan Composites declined 31.96% to Rs 10.88 crore in the quarter ended September 2016 as against Rs 15.99 crore during the previous quarter ended September 2015. Sales declined 9.94% to Rs 44.31 crore in the quarter ended September 2016 as against Rs 49.20 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales44.3149.20 -10 OPM %37.9847.38 - PBDT16.8823.38 -28 PBT14.9721.78 -31 NP10.8815.99 -32

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Tata Communications launches IZOn++ SDWAN
Nov 29,2016

Tata Communications has launched the latest addition to its IZOn++ cloud enablement platform - IZOn++ SDWAN. As the myriad of different applications, clouds, data sources and connections create complexity for organisations, IZOn++ SDWAN helps them detangle this complexity and propel their growth through seamless, secure and easy-to manageconnectivity across 130 countries spanning both developed and emerging markets.

Underpinned by Tata Communications global network, IZOn++ ecosystem, and partnerships with the worlds biggest cloud companies, IZOn++ SDWAN boosts agility and flexibility for organisations. By enabling the instant deployment of branch office networks anywhere in the world, the new service helps organisations to expand and introduce new products and services faster, and adapt to rapidly changing market conditions.

Tata Communications fast-growing IZOn++ ecosystem gives multinational organisations the freedom to choose a cloud environment best suited to their requirements, underpinned by Tata Communications leading global network and partnerships.

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Cox & Kings slips on weak Q2 results
Nov 29,2016

The result was announced after market hours yesterday, 28 November 2016.

Meanwhile, the BSE Sensex was up 190.99 points, or 0.72%, to 26,541.16.

On BSE, so far 80,000 shares were traded in the counter, compared with average daily volume of 1.71 lakh shares in the past one quarter. The stock hit a high of Rs 166.30 and a low of Rs 159.10 so far during the day. The stock hit a 52-week high of Rs 256.45 on 6 January 2016. The stock hit a 52-week low of Rs 140.50 on 17 February 2016. The stock had underperformed the market over the past 30 days till 28 November 2016, falling 26.52% compared with the 5.66% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 12.70% as against Sensexs 7.03% decline.

The small-cap company has equity capital of Rs 88.28 crore. Face value per share is Rs 5.

Cox & Kings is a leading leisure and education travel group with operations in 22 countries across 4 continents.

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HDFC Bank allots equity shares
Nov 29,2016

HDFC Bank has allotted on 29 November 2016, 3727100 equity shares to the employees of the Bank pursuant to exercise of options under its Employees Stock Options Schemes (ESOS).

The paid up share capital of the Bank will accordingly increase from Rs. 5098540634 equity shares of Rs 2/- each to Rs. 5105994834 equity shares of Rs 2/- each.

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Bharat Financial Inclusion jumps on foreign brokerage rating
Nov 29,2016

Meanwhile, the S&P BSE Sensex was up 177.12 points or 0.67% at 26,527.29.

On BSE, so far 3.08 lakh shares were traded in the counter as against average daily volume of 2.11 lakh shares in the past one quarter. The stock hit a high of Rs 734.50 and a low of Rs 691 so far during the day. The stock had hit a 52-week high of Rs 938.75 on 29 July 2016. The stock had hit a 52-week low of Rs 434.85 on 9 December 2015. The stock had underperformed the market over the past one month till 28 November 2016, sliding 22.94% compared with the Sensexs 5.7% fall. The scrip had also underperformed the market in past one quarter, declining 13.28% as against the Sensexs 5.15% fall.

The mid-cap company has equity capital of Rs 137.91 crore. Face value per share is Rs 10.

The foreign brokerage reportedly said that Bharat Financial Inclusion has collected 89% of its overall dues over the period from 11 November to 25 November 2016.

Bharat Financial Inclusions net profit rose 87.4% to Rs 145.88 crore on 38.6% increase in total income to Rs 449.60 crore in Q2 September 2016 over Q2 September 2015.

Bharat Financial Inclusion is among the largest microfinance companies in India.

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Surana Solar spurts after winning order
Nov 29,2016

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

Meanwhile, the BSE Sensex was up 166.80 points, or 0.63%, to 26,516.97.

On BSE, so far 1.04 lakh shares were traded in the counter, compared with average daily volume of 25,420 shares in the past one quarter. The stock hit a high of Rs 25.10 and a low of Rs 23.80 so far during the day. The stock hit a 52-week high of Rs 39.75 on 7 January 2016. The stock hit a 52-week low of Rs 19 on 24 June 2016. The stock had underperformed the market over the past 30 days till 28 November 2016, falling 9.71% compared with the 5.66% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 8.96% as against Sensexs 7.03% decline.

The small-cap company has equity capital of Rs 24.60 crore. Face value per share is Rs 5.

Surana Solar has been awarded an engineering procurement construction (EPC) contract for design, engineering, procurement & supply, construction & erection, testing, commissioning, associated transmission system & comprehensive operation & maintenance for 10 years of a 10 megawatts (MW) (AC) solar power plant by Paradip Port Trust, Odisha (India). The total EPC contract awarded is Rs 60.60 crore and for Operations and Maintenance (O&M) works for ten years is Rs 4.75 crore, which is more than 50% of the turnover of the financial year 2015-2016.

Net profit of Surana Solar rose 7.50% to Rs 0.43 crore on 25.30% decline in net sales to Rs 17.69 crore in Q2 September 2016 over Q2 September 2015.

Surana Solar is one of the leading manufacturers of solar photovoltaic modules in India.

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