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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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Lypsa Gems & Jewellery receives order worth Rs 16 crore
Jul 04,2017

Lypsa Gems & Jewellery DMCC - a subsidiary of Lypsa Gems & Jewellery has received an order of Rs 16 crore to supply diamonds and diamond studded jewellery to customers in UAE.

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Alembic Pharmaceuticals gets tentative approval for Vardenafil Hydrochloride Orally Disintegrating Tablets
Jul 04,2017

Alembic Pharmaceuticals has received tentative approval from the USFDA for its Abbreviated New Drug Application for Vardenafil Hydrochloride Orally Disintegrating Tablets, 10 mg. The tentatively approved ANDA is therapeutically equivalent to the reference listed drug product STAXYN Orally Disintegrating Tablets, 10 mg of Bayer Healthcare and is used under license by GlaxoSmithKline. Vardenafil Hydrochloride Orally Disintegrating Tablets are indicated for treatment of erectile dysfunction.

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Ind-Ra: Affordable Housing Finance- INR6 Trillion Opportunity
Jul 04,2017

Affordable housing finance (largely for loan ticket size up to INR1.5 million) will become a large segment for housing finance companies (HFCs) in the next five years, with the estimated share to increase to around 37% in FY22 (FY17: 26%) says India Ratings and Research (Ind-Ra). The accelerated urbanisation on account of fast economic growth over the last decade and a half has created massive need for affordable housing.

Multiple tailwinds underpinning growth of the sector: The agency anticipates a demand for 25 million homes (4x of the entire current housing finance stock) over FY17-FY22 in the Medium Income Group (MIG) and Lower Income Group (LIG) categories. A combination of factors such as: 1) government financial and policy thrust, 2) regulatory support, 3) rising urbanisation, 4) increasing nuclearisation of families, and 5) increasing affordability is converting latent demand into a commercially lucrative business opportunity. Ind-Ra expects the sector to attract over INR200 billion of equity inflows over FY17-FY22 which would support growth.

Built-for-scale models required to compete with entrenched incumbents: Ind-Ras analysis reveals that on operating cost metrics, the new entrants with their pan-India ambitions would need to build scale quickly to compete with the incumbents whose regional-focussed models have helped maintain tight opex ratios in addition to their funding cost advantage. This entails building up the book at a rapid pace and hence will lead to high proportion of unseasoned portfolio at any point in time. To offset this it would necessitate having the right people with adequate skill-set (who have seen various cycles and scale) and the right processes (building a scalable credit funnel and robust underwriting platform) while getting the pricing (risk and opex adjusted spreads) right. These would be the key differentiators for the new age HFCs. Informal credit assessment remains the crux for the segment, and hence reasonable assessment of instalment paying ability while keeping sufficient margin for income volatality over lifecycle would be of prime importance.

Key risks and possible mitigants: Aggressive expansion without ensuring appropriate credit assessment could be a risk for the segment especially in view of limited financial data available and possibly less financial savvy customer segment. Also, the segment requires high customer connect, therefore, attracting and retaining people with on ground connect would be of prime importance. HFCs would need to build a sense of ownership, as well as develop a right incentive structure to manage this risk. Operationally, managing liquidity, mainly in view of long tenure nature of assets would be key consideration. Ind-Ra expects a prudent asset liability tenure management by HFCs.

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HEG drops after recent sharp rally
Jul 04,2017

Meanwhile, the S&P BSE Sensex was down 29.34 points, or 0.09% at 31,192.28. The S&P BSE Small-Cap index was up 3.13 points, or 0.02% at 15,575.97.

On the BSE, 21,000 shares were traded on the counter so far as against the average daily volumes of 1.29 lakh shares in the past two weeks. The stock had hit a high of Rs 390 and a low of Rs 376.55 so far during the day. The stock had hit a 52-week high of Rs 391 on 3 July 2017 and a 52-week low of Rs 144.10 on 22 November 2016.

The stock had outperformed the market over the past one month till 3 July 2017, advancing 41.81% compared with the Sensexs 0.17% fall. The scrip had also outperformed the market over the past one quarter advancing 72% as against the Sensexs 4.38% rise. The scrip had also outperformed the market over the past one year advancing 141.95% as against the Sensexs 15.02% rise.

The small-cap company has equity capital of Rs 39.96 crore. Face value per share is Rs 10.

Shares of HEG had rallied 21.43% in the preceding three trading sessions to settle at Rs 387 yesterday, 3 July 2017, from its close of Rs 318.70 on 28 June 2017.

HEG reported net loss of Rs 3.86 crore in Q4 March 2017, compared with net loss of Rs 27.11 crore in Q4 March 2016. Net sales rose 44.4% to Rs 247.68 crore in Q4 March 2017 over Q4 March 2016.

HEG is the leading manufacturer and exporter of graphite electrodes in India.

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Power Mech Projects receives orders worth Rs 624 crore approx.
Jul 04,2017

Power Mech Projects announced that the following Subsidiaries/JVs of the Company have received a Letter of Intent/Work Orders for the following projects:

GTA Power Mech Nigeria, 50% JV of Power Mech Projects has received an order for Composite Work tender Unit - V for Dangote Oil Refining Company Ltd, Lagos, Nigeria for a total contract price of US $ 76,000,000 (US Dollar Seventy-Six Million only) approximately Rs 491 crore.

Mas Power Mech Arabia LLC, 51 % Subsidiary of Power Mech Projects has received an order for Installation works of HRSG, CENTER LINE (STG & GTG) #1,#2 & #3 for 1800MW ALBA PS5 CCPP, Kingdom of Bahrain, for a total contract price of US $2,06,16,165 (US Dollar Twenty Million Sixty One Lakhs Six thousand One hundred and sixty five only) approximately Rs 133 crore.

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Vesuvius India to hold board meeting
Jul 04,2017

Vesuvius India will hold a meeting of the Board of Directors of the Company on 8 August 2017 Quarterly Results

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Metkore Alloys & Industries to hold AGM
Jul 04,2017

Metkore Alloys & Industries announced that the th Annual General Meeting(AGM) of the company on 31 July 2017.

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Just Dial slips after CFO resigns
Jul 04,2017

The announcement was made after market hours yesterday, 3 July 2017.

Meanwhile, the S&P BSE Sensex was up 16.68 points, or 0.05% to 31,238.30.

On the BSE, 81,000 shares were traded in the counter so far, compared with average daily volumes of 1.97 lakh shares in the past one quarter. The stock had hit a high of Rs 380 and a low of Rs 365 so far during the day. The stock hit a 52-week high of Rs 625.60 on 4 June 2016. The stock hit a 52-week low of Rs 318.20 on 27 December 2016.

The stock had underperformed the market over the past one month till 3 July 2017, falling 14.25% compared with 0.17% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 29.93% as against Sensexs 4.38% rise. The scrip had also underperformed the market in past one year, falling 38.28% as against Sensexs 14.45% rise.

The small-cap company has equity capital of Rs 69.55 crore. Face value per share is Rs 10.

Just Dial announced that Ramkumar Krishnamachari, chief financial officer and key managerial personnel of the company, submitted his resignation yesterday, 3 July 2017. The company said it accepted the resignation and decided to relieve Ramkumar Krishnamachari from his duties with effect from 30 September 2017.

Net profit of Just Dial declined 37.08% to Rs 25.35 crore on 5.90% rise in net sales to Rs 181.72 crore in Q4 March 2017 over Q4 March 2016.

Just Dial is a leading local search engine in India.

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Sacheta Metals bags multiple export orders
Jul 04,2017

Sacheta Metals has received an export orders worth Rs 67.06 crore in last 3.5 months.

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Honda Siel Power Products to pay dividend
Jul 04,2017

Honda Siel Power Products announced that dividend payout for equity shares of the company is 01 September 2017.

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Investments worth $291 bn needed to plug water demand-supply gap in India: Study
Jul 04,2017

The widening gap between demand for water and its supply is estimated to reach as high as about 50 per cent by 2030 and plugging this huge gap would need an additional investment of about $291 billion (bn), noted a just-concluded ASSOCHAM-PwC joint study.

To put things in perspective, the additional funding required only to plug the demand-supply gap in 2030 is higher than the Government of Indias 2016-17 budget i.e. Rs 20 lakh crore.

n++Amid sources that can be used to bridge water demand-supply gap, augmented and sustainable surface water sources would require funds to the tune of $215 bn followed by groundwater ($45 bn),n++ noted the ASSOCHAM-PwC joint study titled Water Management in India: Channelling the resources.

While employing technologies like wastewater treatment and reuse together with desalination would require funding of $27 bn and $4 bn respectively.

An additional $25 bn would be required as part of capital and O&M requirements for each market in four types of Indian cities - IA, IB, IC; class II, class III and class IV, the study noted.

n++Considering that the share of rural population to the total Indian population is 40 per cent, funding requirement of $25 bn will increase by 40 per cent to reach $35 bn by 2030 if the funding gap for the rural sector is also taken into consideration,n++ it said.

It is imperative to note that there is immense pressure on Indias natural resources as with 16 per cent of the worlds total population, its economic activities, ambitions and needs are dependent on 2.5 per cent of the worlds land and 4 per cent of the total usable water resources.

Thus creating a robust water infrastructure through efforts and funding in capital and O&M (operation and maintenance) expenditures is therefore need of the hour to plug demand-supply gap of 754 BCM (billion cubic metres) in Indias water sector by 2030, suggested the ASSOCHAM-PwC report.

In view of the factors that impact the sources of and demand for water, the study said that agricultural water demand-supply is projected to be about 510 BCM in 2030 i.e. 69 per cent of the total demand supply gap.

n++The projected 69 per cent is an optimistic number and is dependent on improvements in irrigation efficiency. However, if efficiency does not improve, the gap in the irrigation sector alone would be about 80 per cent of 754 BCM, i.e. about 570 BCM in 2030,n++ added the report.

Highlighting the extent of water use efficiency in the industrial sector, it said that industries would need to withdraw about three times more water (about 57 BCM) than they would actually consume (about 18 BCM) in 2030.

n++The power, paper, steel, aluminium, cement and fertiliser industries alone would withdraw five times more water than they would actually consume.n++

The ASSOCHAM-PwC study also said that projected municipal and domestic water demand is estimated to double to 108 BCM (seven per cent of total demand) by 2030. n++This translates into a deficit of approximately 50 BCM between supply and demand of water in the domestic sector.n++

It further said that this gap takes into account the fact that most of the prominent urban centres import water from sources that are 200-500 kilometres (km) away, the gap is therefore with respect to not only the volume of water available but also, if business as usual continues, the distance (and therefore the cost, time, and effort) involved in bringing water to urban areas.

n++Stepping up of existing service provisioning including infrastructural up-gradation will be necessary to meet the qualitative and quantitative aspects of the demand,n++ said Mr Ranen Banerjee, Partner and Leader - Public Sector and Governance, PwC India while addressing an ASSOCHAM national conference - Water Management: Technology, innovation & sustainability.

n++This would need additional sources of investments including technological innovations,n++ he said.

n++For this, commercial financing is a significant source,n++ he added.

n++Water sector will therefore need to enhance the creditworthiness for the players to harness its full potential,n++ further said Mr Banerjee.

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GTPL Hathway sees muted debut
Jul 04,2017

The stock debuted on a flat note at Rs 170 compared with the initial public offer (IPO) price. So far the stock hit a high of Rs 174.50 and low of Rs 162.25. On BSE, so far 13.33 lakh shares were traded on the counter.

The IPO of GTPL Hathway received bids for 3.09 crore shares, as per NSE data. The IPO was subscribed 1.53 times. The IPO opened for bidding on 21 June 2017 and closed on 23 June 2017.

Category wise, the qualified institutional buyers (QIBs) category was subscribed 1.48 times. The non institutional investors (NIIs) category was subscribed 2.85 times. The retail individual investors (RIIs) category was subscribed 0.99 times.

From the proceeds of the IPO, the company plans to spend Rs 229 crore for repayment of certain borrowing, and rest for general corporate purpose.

On a consolidated basis, the companys net sales for nine months ended December 2016 stood at Rs 651.93 crore. The net profit stood at Rs 21.40 crore.

GTPL Hathway is a leading regional multi system operator (MSO) in India, offers cable television and broadband services.

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Continental Securities to hold board meeting
Jul 04,2017

Continental Securities will hold a meeting of the Board of Directors of the Company on 4 July 2017.

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Looks Health Services to hold board meeting
Jul 04,2017

Looks Health Services will hold a meeting of the Board of Directors of the Company on 4 July 2017 To Appoint Ms. Quincy Sanadhya as an Independent Director of the Company

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Yes Bank to hold board meeting
Jul 04,2017

Yes Bank will hold a meeting of the Board of Directors of the Company on 26 July 2017 Quarterly Results, Stock Split

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