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Surya Industrial Corporation to hold AGM

Surya Industrial Corporation to hold AGM

Sep 14,2016

Surya Industrial Corporation announced that the Annual General Meeting (AGM) of the company will be held on 30 September 2016.

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Zenlabs Ethica to hold board meeting
Mar 02,2017

Zenlabs Ethica will hold a meeting of the Board of Directors of the Company on 7 March 2017, to consider Appointment of secretarial Auditor for financial year ended as at 31.03.2017.

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Bank of India gains on plans to raise capital
Mar 02,2017

The announcement was made after market hours yesterday, 1 March 2017.

Meanwhile, the S&P BSE Sensex was up 62.99 points or 0.22% at 29,047.48.

On the BSE, 1.61 lakh shares were traded in the counter so far as against average daily volume of 3.94 lakh shares in the past one quarter. The stock had hit high of Rs 130.75 and low of Rs 126.70 so far during the day.

The stock had hit a 52-week high of Rs 138.70 on 10 February 2017 and a 52-week low of Rs 78.60 on 25 May 2016. It had outperformed the market over the past one month till 1 March 2017, advancing 6.57% compared with the Sensexs 3% rise. The scrip had also outperformed the market over the past one quarter, gaining 10.22% as against the Sensexs 9.13% rise.

The large-cap psu bank has equity capital of Rs 1054.70 crore. Face value per share is Rs 10.

Bank of India announced that it is in the process of raising Basel-III compliant additional tier-1, perpetual bonds-Series 4, for an amount of Rs 500 crore with a green shoe option of Rs 500 crore, aggregating Rs 1000 crore by private placement. The details of the issue shall be informed in due course.

Bank of Indias net profit jumped 106.8% to Rs 101.72 crore 4.6% rise in total income to Rs 11594 crore in Q3 December 2016 over Q3 December 2015.

The Government of India held 73.72% stake in Bank of India (as per the shareholding pattern as on 31 December 2016).

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Sustained Student Enrolments and Private Sector Participation to Support Education Sector Growth in FY18
Mar 02,2017

India Ratings and Research (Ind-Ra) has maintained a stable outlook on the education sector for FY18. Although enrolments increased marginally in the school segment (FY15: 0.43% yoy) and moderately in higher education (FY15: 5.88% yoy), Ind-Ra believes the sector has the potential to grow due to a huge demand-supply gap. Besides new educational institutions, the existing institutions are continuously churning themselves both in terms of physical infrastructure and course content/curricula to keep abreast with the needs of the economy.

In India, funding remains a key challenge for an education venture. Although 100% foreign direct investment in education is allowed, running an educational venture with the profit motive is still difficult. This is so because education in general is considered a public good and education up to the elementary level is considered a merit good. As a result, the predominant organisational structure of private educational institutions in India is not for profit and they are mostly managed by trusts and societies. The presence of multiple regulators in conjunction with the requirement of numerous approvals and regulatory compliances has further complicated the investment process in the Indian education sector.

Ind-Ra has maintained a Positive Outlook on its rated portfolio of educational entities for FY18 due to their robust credit profiles. Ind-Ra expects their profiles to remain healthy during the year, on account of growing enrolments and improving profit margins. This is attributed to the regionally sound market position of the rated entities, their quality infrastructure and high academic standards.

Ind-Ra has observed a continuous rise in enrolments across all segments of education such as schools, higher education, distance learning and vocational courses. Despite tuition fee being regulated, educational institutions across the board are able to generate reasonably healthy operating margins. Generally, technical and professional courses/programmes are in demand and their pricing is high. However, several educational institutions offering these courses are finding it difficult to absorb the additional cost pressure and are facing liquidity pressures. Also, the cyclical nature of business leads to liquidity mismatches because tuition fees (main source of revenue) are collected at designated intervals, but expenditure takes place on a regular basis.

The impact of demonetisation on the education sector has been mixed. Institutions where donation and capitation fees are collected in cash and have been a significant component of revenue such as in engineering, medical, nursery colleges have been negatively impacted due to demonetisation. However, the increasing number of cashless transactions has the potential to bring in more transparency in the education sector, leading to increased interest of private sector, especially private equity/venture capital players in the sector.

OUTLOOK SENSITIVITIES

Government policy support towards augmenting the quality of education across all the sub-groups along with creating an environment conducive to foreign and domestic investments, which would reduce the infrastructure deficit in the education sector, would be a positive.

Disproportionate debt-led capital expenditure plans along with increases in debtors, aggravating the liquidity profile, would be a negative for the sector.

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National Aluminum Company leads gainers on BSEs A group
Mar 02,2017

National Aluminum Company jumped 5.31% at Rs 75.30 on reports China ordered aluminium and steel producers in 28 cities to slash output during winter, as Beijing intensifies its war on smog. The stock topped the gainers in A group. On the BSE, 10.53 lakh shares were traded on the counter so far as against the average daily volumes of 3.39 lakh shares in the past two weeks.

Jubilant Foodworks rose 4.24% at Rs 1,045.70. The stock was the second biggest gainer in A group. On the BSE, 2.45 lakh shares were traded on the counter so far as against the average daily volumes of 34,000 shares in the past two weeks.

Balkrishna Industries gained 3.57% at Rs 1,356.05. The stock was the third biggest gainer in A group. On the BSE, 34,000 shares were traded on the counter so far as against the average daily volumes of 11,000 shares in the past two weeks.

Tata Motors rose 3.24% at Rs 463.65 after the company said that total sales rose 2% to 47,573 vehicles in February 2017 over February 2016. The stock was the fourth biggest gainer in A group. On the BSE, 8.35 lakh shares were traded on the counter so far as against the average daily volumes of 6.35 lakh shares in the past two weeks.

Alembic Pharmaceuticals rose 2.98% at Rs 590.20. The stock was the fifth biggest gainer in A group. On the BSE, 29,000 shares were traded on the counter so far as against the average daily volumes of 7,807 shares in the past two weeks.

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Furnishing of Aadhaar mandatory for final settlement of Pension claims
Mar 02,2017

The EPFO has clarified that obtaining of Aadhaar should be mandatory for the time being only for final settlement of Pension and not in withdrawl cases. The EPFO had extended the date of submission of Aadhaar Number authentication by the members of Employees Pension Scheme 1995 upto 31st March 2017.

However, news item appearing in few dailies suggested that Aadhaar is not required in settlement of pension claims. Accordingly, the EPFO reiterated that the requirement of submitting Aadhaar is not insisted for the time being only in withdrawal benefit cases under Employees Pension Scheme, 1995. Furnishing of Aadhaar is still mandatory for final settlement of pension and scheme certificate cases.

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HCL Technologies recognised as Leader for Managed Workplace Services in North America and Europe
Mar 02,2017

HCL Technologies has been recognised as a Leader in Gartner Magic Quadrant for Managed Workplace Services, North America, dated 30 January 2017 and Magic Quardrant for Managed Workplace Services in Europe, dated 11 January 2017.

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EIH delists GDRs from London Stock Exchange
Mar 02,2017

EIH announced that the Company has delisted the GDRs from the London Stock Exchange, effective 28 February 2017 and accordingly the Deposit Agreement, dated 07 October 994, between the Company and The Bank of New York Mellon (the Depository), (the Deposit Agreement) has also been terminated.

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15.5% Growth in Domestic Tourist visits to States/Uts during 2016 as compared to 2015
Mar 02,2017

Ministry of Tourism compiles data on tourist arrivals and visits to States/ Union Territories (UTs) on the basis of details received from various sources namely Bureau of Immigration and States /UTs.

While surpassing the growth rate of 6.8% in Foreign Tourist Arrivals (FTAs) observed in January 2016 over January 2015, a significantly higher double digit growth rate of 16.5% has been witnessed correspondingly in the month of January 2017 over January 2016. A similar higher growth rate is also observed in the Domestic Tourist Visits (DTVs) during 2016, recording a marvelous growth rate of 15.5% over 2015.

The data for DTVs, every year, is compiled by Ministry of Tourism based on the inputs received from all States/UTs. While complete data for each calendar year from all States/ UTs is received in the Ministry of Tourism sometime around in the months of April- May of the succeeding year, Ministry of Tourism has come out at present with provisional figures for DTVs on the basis of whatever information/ data is made available thus far by the concerned States/UTs coupled with estimation undertaken by the Ministry of Tourism for the missing/ incomplete data segments. The estimation process basically entails the Methods of prevailing growth rates and proportionate contributions.

Following are the salient features of the provisional figures for DTVs to States/ UTs during the year 2016:

n++ During 2016, the number of DTVs to the States/ UTs was 1653 million (provisional) as compared to 1432 million in 2015 registering a growth of 15.5 %.

n++ The contribution of the top ten States/ UTs during 2016 stands at about 84.2% to the total number of Domestic Tourist Visits as against 83.62% recorded in 2015.

n++ The top ten States in terms of number of DTVs (in millions), during 2016, were Tamil Nadu (344.3), Uttar Pradesh (229.6), Madhya Pradesh (184.7), Andhra Pradesh (158.5), Karnataka (129.8), Maharashtra (115.4), West Bengal (74.5), Telangana (71.5), Gujarat (42.8) and Rajasthan (41.5).

n++ Tamil Nadu and Uttar Pradesh have maintained the first and second rank respectively in terms of DTVs in 2016.

n++ Madhya Pradesh has gained several ranks to reach the third position leaving Andhra Pradesh, Karnataka and Maharashtra at the succeeding fourth, fifth and sixth positions.

n++ West Bengal surpassed Telangana to attain the seventh position rendering Telangana at the eighth, followed by Gujarat and Rajasthan.

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Volumes jump at Zensar Technologies counter
Mar 02,2017

Zensar Technologies clocked volume of 2 lakh shares by 13:40 IST on BSE, a 159.10-times surge over two-week average daily volume of 1,000 shares. The stock was up 0.01% at Rs 917.

PVR notched up volume of 84,000 shares, a 19.67-fold surge over two-week average daily volume of 4,000 shares. The stock rose 0.23% at Rs 1,299.10.

8K Miles Software Services saw volume of 1.08 lakh shares, a 18.51-fold surge over two-week average daily volume of 6,000 shares. The stock surged 12.6% at Rs 653.25.

Neuland Laboratories clocked volume of 1.28 lakh shares, a 13.47-fold surge over two-week average daily volume of 9,000 shares. The stock jumped 9.41% at Rs 1,204.

Kopran saw volume of 12.82 lakh shares, a 9.30-fold rise over two-week average daily volume of 1.38 lakh shares. The stock was up 3.76% at Rs 70.40.

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TCS gains as promoters to participate in share buyback
Mar 02,2017

The announcement was made after market hours yesterday, 1 March 2017.

Meanwhile, the S&P BSE Sensex was up 83.57 points or 0.29% at 29,068.06.

On the BSE, 65,000 shares were traded on the counter so far as against the average daily volumes of 97,698 shares in the past one quarter. The stock had hit a high of Rs 2,503.25 and a low of Rs 2,479.10 so far during the day.

The stock had hit a 52-week high of Rs 2,740 on 16 August 2016 and a 52-week low of Rs 2,054.70 on 15 November 2016. It had outperformed the market over the past one month till 1 March 2017, advancing 14.32% compared with the Sensexs 3% rise. The scrip had also outperformed the market over the past one quarter, gaining 9.42% as against the Sensexs 9.13% rise.

The large-cap company has equity capital of Rs 197.04 crore. Face value per share is Rs 1.

TCS had last month announced that its board approved a buyback of up to 5.61 crore equity shares, aggregating up to 2.85% of the fully paid-up equity share capital of the company, at Rs 2,850 per equity share, for an aggregate amount not exceeding Rs 16000 crore, from the shareholders of the company, on a proportionate basis through a tender offer.

Total promoter holding in TCS stood at 73.33% end December 2016.

On a consolidated basis, TCS net profit rose 3.2% to Rs 6814 crore on 1.54% increase in net sales to Rs 29735 crore in Q3 December 2016 over Q2 September 2016.

TCS is an IT services, consulting and business solutions organization.

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Aurionpro Solutions secures project worth Rs 70.8 crore from Rajasthan Government
Mar 02,2017

Aurionpro Solutions has won a project from RajCOMP Info Services, a Government of Rajasthan undertaking, for supply, installation and FMS of Edge equipments under City Surveillance projects for seven cities (Ajmer, Bharatpur, Bikaner, Jodhpur, Jaipur, Kota and Udaipur) valued at Rs 70.8 crore (plus taxes). Aurionpro will also be responsible for managing the services for next five years.

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Balkrishna Industries surges 19.83% in eight sessions
Mar 02,2017

Meanwhile, the S&P BSE Sensex was up 87.27 points, or 0.3%, to 29,071.76.

More than usual volumes were witnessed on the counter. On the BSE, 23,174 shares were traded in the counter so far, compared with average daily volumes of 13,648 shares in the past one quarter. The stock had hit a high of Rs 1,398 in intraday trade, which is also a record high for the stock. The stock had hit a low of Rs 1,318.95 so far during the day.

The stock had hit a 52-week low of Rs 561.05 on 29 February 2016. It had outperformed the market over the past one month till 1 March 2017, gaining 13.97% compared with the Sensexs 3% rise. The scrip had also outperformed the market over the past one quarter, rising 10.04% as against the Sensexs 9.13% rise. The stock has returned 57.38% in six months and 127.21% in one year till 1 March 2017.

The large-cap company has equity capital of Rs 19.33 crore. Face value per share is Rs 2.

Shares of Balkrishna Industries surged 19.83% in eight sessions to its current ruling price of Rs 1,380.50, from a close of Rs 1,152 on 17 February 2017.

Balkrishna Industries net profit rose 94.2% to Rs 185.69 crore on 25.7% rise in net sales to Rs 864.69 crore in Q3 December 2016 over Q3 December 2015. The result was announced on 10 February 2017.

Balkrishna Industries is a leading manufacturer in the off-highway tire market. The company has focused on specialist segments such as agricultural, construction and industrial vehicles as well as earthmoving, port and mining, ATV, and gardening applications.

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Apcotex Industries intimates of withdrawal of strike by workmen union
Mar 02,2017

Apcotex Industries announced that the workmen union at Taloja Plant has withdrawn the strike and have resumed work with immediate effect.

The estimates loss of gross sale due to strike is about Rs 16 crore to Rs 18 crore for the month of February 2017.

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Bella Casa Fashion & Retail to hold EGM
Mar 02,2017

Bella Casa Fashion & Retail announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 28 March 2017 .

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Grasim Industries to hold EGM
Mar 02,2017

Grasim Industries announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 6 April 2017.

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