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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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Rupee surges
Mar 06,2017

Rupee closed higher at 66.8850/9000 per dollar on Monday (06 March 2017), versus its previous close of 67.0025/0100 per dollar.

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FY18 Fertiliser Outlook: Debt-Funded Capex to Offset Benefits of Working Capital Improvements
Mar 06,2017

India Ratings and Research (Ind-Ra) has maintained a stable outlook for the fertiliser industry for FY18. The agency expects lower dependence on government subsidies, due to lower international prices of raw materials and finished products, to be a positive driver for the sector in FY18. Additional debt to fund capacity upgrade and expansion projects would be a key negative driver. A combination of lower dependence on government subsidies, which will lead to lower working capital debt, and higher term debt for capex is likely to result in stable debt levels across the sector. Moreover, the agency expects EBITDA levels of fertiliser companies to sustain at the FY17 levels, driven by consumption growth. Thus, stable debt and EBITDA levels would lead to stable credit metrics across the sector in FY18.

Ind-Ra expects demand for fertilisers to increase by about 5% yoy in FY18. Demand for fertilisers is likely to remain strong in FY18 on account of an increase in purchasing power of farmers due to a rise in farm income and a rise in minimum support price (MSP) of key rabi crops in in FY17.

Low domestic gas production, gas supply limitations and low international prices of key fertlisers would continue to affect domestic production.

Ind-Ra expects urea and decontrolled fertiliser manufacturers EBITDA levels in FY18 to sustain at the levels recorded for FY17, as volume growth would neutralise the impact of lower subsidy revenue due to stricter efficiency norms and low international prices of both inputs and finished goods. The agency expects the prices of imported fertilisers to continue to remain low in view of low energy and raw material costs and subdued international demand due to a change in Chinas crop policy.

Low raw material prices, stable subsidy allocation and reduced subsidy backlog would lead to an improved subsidy disbursement and, hence, a lower working capital debt in FY18. However, lower working capital debt would be offset by additional debt-funded capex to comply with energy efficiency norms applicable by FY19, as well as to execute expansion projects.

Ind-Ra believes that sustained debt and EBITDA levels would result in stable credit profiles of fertliser companies in FY18.

OUTLOOK SENSITIVITIES

Impact of Policy Changes; Urea Price Decontrol: Structural reforms leading to a reduction in subsidy dependence and timely release of subsidies could lead to a positive sector outlook.

Weakening in GOI Support: The sector outlook could be revised to negative, if the government of Indias (GOI) subsidy support reduces or there is a large debt-funded capex by fertiliser companies.

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Gartner Says Worldwide Server Revenue Declined 1.9 Percent in the Fourth Quarter of 2016, While Shipments Fell 0.6 Percent
Mar 06,2017

In the fourth quarter of 2016, worldwide server revenue declined 1.9 percent year over year, while shipments fell 0.6 percent from the fourth quarter of 2015, according to Gartner, Inc. In all of 2016, worldwide server shipments grew 0.1 percent, but server revenue declined 2.7 percent.

There were some distinct factors that produced the results for 2016, said Jeffrey Hewitt, research vice president at Gartner. Hyperscale data centers (e.g., Facebook, Google) grew and, at the same time, drove some significant server replacements. Enterprises grew at a lower rate as they continued to leverage server applications through virtualization and in some cases, service providers in the cloud.

From a regional perspective, Asia/Pacific was the only region to exhibit positive growth in both shipments and revenue in the fourth quarter of 2016. All other regions declined, with Latin America experiencing the largest decline in shipments (12.2 percent, while the Middle East and Africa declined 14.7 percent in terms of revenue.

Hewlett Packard Enterprise (HPE) led the worldwide server market based on revenue in the fourth quarter of 2016. The company ended the year with $3.4 billion in revenue for the fourth quarter of 2016 for a total share of 22.9 percent worldwide. However, revenue was down 11 percent compared with the same quarter in 2015.

Of the top five global vendors, only Dell and Huawei exhibited growth for the quarter, increasing 1.8 percent and 88.4 percent, respectively.

Table 1. Worldwide: Server Vendor Revenue Estimates, 4Q16 (U.S. Dollars)

Company4Q16
Revenue
4Q16 Market Share (%)4Q15
Revenue
4Q15 Market Share (%)4Q16-4Q15 Growth (%)HPE3,392,601,01222.93,813,592,26925.2-11.0Dell2,578,181,85417.42,533,495,99316.71.8IBM1,732,474,86111.71,974,018,08413.0-12.2Huawei1,249,813,3717.7610,225,4374.088.4Lenovo946,283,1856.41,136,141,4947.5-16.7Others5,039,143,53334.05,064,301,08733.5-0.5Total14,838,497,815100.015,131,774,365100.0-1.9

Source: Gartner (March 2017)

Dell grew 6.5 percent and moved into the No. 1 position in worldwide server shipments in the fourth quarter of 2016, with 19.1 percent of the market. HPE experienced a decline of 19.4 percent and fell to the second spot with 17.2 percent market share. Huawei experienced the strongest shipment growth in the fourth quarter of 2016, increasing 64 percent over the same period last year.

Table 2. Worldwide: Server Vendor Shipments Estimates, 4Q16 (Units)

Company4Q16
Shipments
4Q16 Market Share (%)4Q15
Shipments
4Q15 Market Share (%)4Q16-4Q15 Growth (%)Dell562,02919.1527,73617.96.5HPE504,40717.2625,54321.2-19.4Huawei245,6118.4149,7425.164.0Lenovo220,2967.5256,5718.7-14.1Inspur Electronics141,1324.8140,1664.70.7Others1,265,16942.11,255,74742.50.8Total2,938,644100.02,955,505100.0-0.6

Source: Gartner (March 2017)

x86 server demand increased in revenue by 1.1 percent, however, shipments declined 0.3 percent in the fourth quarter of 2016.

Full Year 2016 Server Market Results

In 2016, worldwide server shipments increased 0.1 percent, while revenue declined 2.7 percent.

x86 servers continue to be the predominant platform used for large-scale data center build-outs across the globe, and the growth of integrated systems (including hyperconverged integrated systems), while still relatively small as an overall percentage of the hardware infrastructure market, also provided a boost to the x86 server space for the year, said Mr. Hewitt. The outlook for 2017 suggests that modest growth will occur being driven primarily by service provider build-outs while the enterprise will show a slight decline in unit purchases with only slight growth in revenue.

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Prime Focus advances on bargain hunting
Mar 06,2017

Meanwhile, the S&P BSE Sensex was up 229.14 points, or 0.79%, to 29,061.59

On BSE, so far 4,334 shares were traded in the counter, compared with average daily volume of 15,489 shares in the past one quarter. The stock hit a high of Rs 86 and a low of Rs 80.65 so far during the day.

The stock hit a 52-week high of Rs 92.45 on 25 January 2017. The stock hit a 52-week low of Rs 47 on 24 June 2016. The stock had underperformed the market over the past 30 days till 3 March 2017, sliding 6.22% compared with 2.15% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 13.3% as against Sensexs 9.92% rise.

The small-cap company has equity capital of Rs 29.89 crore. Face value per share is Re 1.

Prime Focus reported consolidated net profit of Rs 22.68 crore in Q3 December 2016 as compared with net loss of Rs 18.44 crore in Q3 December 2015. Net sales rose 8.86% to Rs 506.12 crore in Q3 December 2016 over Q3 December 2015.

Prime Focus provides end-to-end creative services (visual effects, stereo 3D conversion and animation), technology products & services (Media ERP Suite and Cloud-enabled media services), production services (shooting floors, sound stages and equipment rental) and post production services (Digital Intermediate, digital lab and picture post) to studios, broadcast and advertising industries.

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Central Bank of India gets revision in credit ratings
Mar 06,2017

Central Bank of India announced that ICRA has revised its rating on Banks Bonds.

The revised rating is as under:

a) Lower Tier II Bonds - Credit Rating revised from [ICRA]AA- (Outlook : Negative) to [ICRA]A+ (Outlook : Negative).

b) Upper Tier II Bonds - Credit Rating revised from [ICRA]A+ (Outlook : Negative) to [ICRA]A (Outlook : Negative).

The rating downgrade factors the continuing deterioration in asset quality, poor financial results for past three quarters upto Q3FY17 wherein the Bank had to make large provision towards NPAs, and their effect on capital adequacy ratio.

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Central Bank of India gets revision in credit ratings
Mar 06,2017

Central Bank of India announced that ICRA has revised its rating on Banks Bonds.

The revised rating is as under:

a) Lower Tier II Bonds - Credit Rating revised from [ICRA]AA- (Outlook : Negative) to [ICRA]A+ (Outlook : Negative).

b) Upper Tier II Bonds - Credit Rating revised from [ICRA]A+ (Outlook : Negative) to [ICRA]A (Outlook : Negative).

The rating downgrade factors the continuing deterioration in asset quality, poor financial results for past three quarters upto Q3FY17 wherein the Bank had to make large provision towards NPAs, and their effect on capital adequacy ratio.

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Shipping Corporation of India announces change in directorate
Mar 06,2017

Shipping Corporation of India has received order from Ministry of Shipping for appointment of Pravir Krishn (Shipping, Govt. of India) as part-time official director with effect from 03 March 2017 vice Barun Mitra. Barun Mitra ceases to be on the Board of SCI with effect from 02 March 2017.

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Picturehouse Media Director resigns
Mar 06,2017

Picturehouse Media announced the resignation of P Sai Padma from the post of Director of the Company with effect from 06 March 2017.

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City Union Bank opens three new branches
Mar 06,2017

City Union Bank has opened three new branches at Kengeri, Nalgonda and Omalur on 06 March 2017.

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Board of TVS Motor Company recommends dividend
Mar 06,2017

TVS Motor Company announced that the Board of Directors of the Company at its meeting held on 6 March 2017, inter alia, have recommended the dividend of Rs 1.25 per equity Share (i.e. 125%) , subject to the approval of the shareholders.

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Board of Emami recommends dividend
Mar 06,2017

Emami announced that the Board of Directors of the Company at its meeting held on 6 March 2017, inter alia, have recommended the dividend of Rs 1.75 per equity Share (i.e. 175%) , subject to the approval of the shareholders.

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Super Crop Safe to hold board meeting
Mar 06,2017

Super Crop Safe will hold a meeting of the Board of Directors of the Company on 15 March 2017, to Appoint Secretarial Auditor of the Company for the year 2016-17.

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Net 4 India to hold board meeting
Mar 06,2017

Net 4 India will hold a meeting of the Board of Directors of the Company on 14 March 2017.

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Supreme Infrastructure India to hold EGM
Mar 06,2017

Supreme Infrastructure India announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 27 March 2017 .

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Welspun Corp leads gainers in A group
Mar 06,2017

Welspun Corp jumped 5.02% to Rs 87.80 at 14:49 IST. The stock topped the gainers in the BSEs A group. On the BSE, 2.73 lakh shares were traded on the counter so far as against the average daily volumes of 1.74 lakh shares in the past two weeks.

Ashok Leyland surged 3.78% to Rs 90.60. The stock was the second biggest gainer in A group. On the BSE, 9.34 lakh shares were traded on the counter so far as against the average daily volumes of 8.24 lakh shares in the past two weeks.

Reliance Industries gained 3.62% at Rs 1,303.95. The stock was the third biggest gainer in A group. On the BSE, 9.81 lakh shares were traded on the counter so far as against the average daily volumes of 11.59 lakh shares in the past two weeks.

Adani Power advanced 3.51% at Rs 38.35. The stock was the fourth biggest gainer in A group. On the BSE, 5.14 lakh shares were traded on the counter so far as against the average daily volumes of 9.01 lakh shares in the past two weeks.

Housing Development and Infrastructure rose 3.44% to Rs 70.60. The stock was the fifth biggest gainer in A group. On the BSE, 10.30 lakh shares were traded on the counter so far as against the average daily volumes of 13.72 lakh shares in the past two weeks.

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