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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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Eveready moves higher after boards nod for rejig of packet tea operations
Feb 20,2017

The announcement was made during market hours today, 20 February 2017.

Meanwhile, the S&P BSE Sensex was up 123.51 points or 0.43% at 28,592.26.

On the BSE, 4,530 shares were traded on the counter so far as against the average daily volumes of 9,680 shares in the past one quarter. The stock had hit a high of Rs 254.60 and a low of Rs 250 so far during the day.

The stock had hit a 52-week high of Rs 291 on 30 August 2016 and a 52-week low of Rs 190 on 29 December 2016.

The small-cap company has equity capital of Rs 36.34 crore. Face value per share is Rs 5.

The board of directors of Eveready Industries India (Eveready) at its meeting held today, 20 February 2017, approved the reorganization of the packet tea operations of the company, subject to the finalization of a suitable modality for the same.

Further the board has authorized Amritanshu Khaitan, Managing Director of the company, to examine and evaluate all relevant aspects and alternatives for the reorganization, including the option of continuing with the packet tea operations through a wholly owned subsidiary.

Khaitan commented that the objective of the exercise is to provide sharper focus to the packet tea business which is currently not adequate as it remains mixed with the Eveready branded product verticals of dry batteries,flashlights, lighting product and home appliances. While the packet tea business will continue to leverage the companys widespread distribution network, the management would examine all other options for the business, for example, continuing with the business in a subsidiary/special purpose vehicle or induction of a strategic partner, etc, for further growth of the business.

After such reorganization, the stand-alone remaining businesses will represent only the Eveready branded product verticals. Eveready expects to complete this exercise in the course of the coming months.

Net profit of Eveready Industries India rose 65.4% to Rs 35.19 crore on 1.7% rise in net sales to Rs 329.31 crore in Q3 December 2016 over Q3 December 2015.

Eveready Industries India is the market leader of dry cell batteries. Apart from dry cell batteries, the company is also the market leader in flashlights. Eveready also markets LED, CFL, GLS lamps & other lighting products and rechargeable lanterns & devices, and packet tea.

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Fitch: Samsung Arrest Negative for Image but Credit Stays Intact
Feb 20,2017

The arrest of the heir apparent to the Samsung conglomerate, Lee Jae-yong, is unlikely to disrupt the companys day-to-day operations or significantly undermine its strong financial performance, which is underpinned by Samsungs market dominance and technology leadership, says Fitch Ratings. However, the arrest is likely to delay strategic investment and weigh on investor sentiment, at least in the short term. It also poses another potential risk to the brands reputation.

The arrest is likely to put on hold strategic decisions - including those over plans for global acquisitions - which were outlined by Mr Lee. However, each of Samsungs business segments is run by its own professional management team. Day-to-day operations are therefore likely to be unaffected by Mr Lees absence - as has also been the case when heads of chaebols have been arrested or prosecuted in the past.

Mr Lee - whose official position is vice-chairman of Samsung Electronics Co. (SEC, A+/Stable) - faces charges of perjury, embezzlement and bribery over claims that Samsung gave funds to President Park Geun-hyes adviser in exchange for political favours. His arrest has received considerable international attention and could have a negative impact on Samsungs image, particularly if the trial process becomes lengthy. The negative publicity also comes fresh on the heels of the recall and production suspension of the Galaxy Note 7 phone, which Fitch viewed as a potential threat to Samsungs brand.

There is no immediate impact on SECs credit rating, which is supported by its technological leadership, its dominant position in its core markets, and strong financial metrics. SEC operates in sectors such as the handset business, where market share can shift quickly. However, SECs long-term market leadership is likely to hinge on its ability to continue delivering innovative products, and we would expect the recent damage to the companys image to be overcome by future strong product offerings.

In that respect, SECs financial position supports its ability to fund the substantial capital expenditure that keeps it among the worlds leading technology companies. It appears to be taking particular care with the launch of the Samsung Galaxy S8, which has been delayed to allow for extra quality control and safety tests to ensure there is no repeat of the Note 7 fiasco.

Mr Lees arrest highlights corporate governance weaknesses at Samsung, but it may also increase pressure on the company to address these problems. The Samsung conglomerate had previously announced it will disband its future and strategy office - used to make the groups key decisions - which was under public scrutiny for favouring the Lee family over the interests of other stakeholders. This office could now remain in place until Mr Lees case is resolved. However, the increased scrutiny on Samsung, and the rising clamour for a more general change in Koreas corporate culture, means that we expect Samsung to make further changes to its structure in favour of shareholder interests, greater transparency and improved governance.

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Fitch: Samsung Arrest Negative for Image but Credit Stays Intact
Feb 20,2017

The arrest of the heir apparent to the Samsung conglomerate, Lee Jae-yong, is unlikely to disrupt the companys day-to-day operations or significantly undermine its strong financial performance, which is underpinned by Samsungs market dominance and technology leadership, says Fitch Ratings. However, the arrest is likely to delay strategic investment and weigh on investor sentiment, at least in the short term. It also poses another potential risk to the brands reputation.

The arrest is likely to put on hold strategic decisions - including those over plans for global acquisitions - which were outlined by Mr Lee. However, each of Samsungs business segments is run by its own professional management team. Day-to-day operations are therefore likely to be unaffected by Mr Lees absence - as has also been the case when heads of chaebols have been arrested or prosecuted in the past.

Mr Lee - whose official position is vice-chairman of Samsung Electronics Co. (SEC, A+/Stable) - faces charges of perjury, embezzlement and bribery over claims that Samsung gave funds to President Park Geun-hyes adviser in exchange for political favours. His arrest has received considerable international attention and could have a negative impact on Samsungs image, particularly if the trial process becomes lengthy. The negative publicity also comes fresh on the heels of the recall and production suspension of the Galaxy Note 7 phone, which Fitch viewed as a potential threat to Samsungs brand.

There is no immediate impact on SECs credit rating, which is supported by its technological leadership, its dominant position in its core markets, and strong financial metrics. SEC operates in sectors such as the handset business, where market share can shift quickly. However, SECs long-term market leadership is likely to hinge on its ability to continue delivering innovative products, and we would expect the recent damage to the companys image to be overcome by future strong product offerings.

In that respect, SECs financial position supports its ability to fund the substantial capital expenditure that keeps it among the worlds leading technology companies. It appears to be taking particular care with the launch of the Samsung Galaxy S8, which has been delayed to allow for extra quality control and safety tests to ensure there is no repeat of the Note 7 fiasco.

Mr Lees arrest highlights corporate governance weaknesses at Samsung, but it may also increase pressure on the company to address these problems. The Samsung conglomerate had previously announced it will disband its future and strategy office - used to make the groups key decisions - which was under public scrutiny for favouring the Lee family over the interests of other stakeholders. This office could now remain in place until Mr Lees case is resolved. However, the increased scrutiny on Samsung, and the rising clamour for a more general change in Koreas corporate culture, means that we expect Samsung to make further changes to its structure in favour of shareholder interests, greater transparency and improved governance.

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Volumes jump at Umang Dairies counter
Feb 20,2017

Umang Dairies clocked volume of 13.81 lakh shares by 13:26 IST on BSE, a 77.64-times surge over two-week average daily volume of 18,000 shares. The stock surged 11.95% at Rs 82.

Birla Corporation notched up volume of 1.05 lakh shares, a 18.06-fold surge over two-week average daily volume of 6,000 shares. The stock was up 0.48% at Rs 704.

Lloyd Electric & Engineering saw volume of 10.15 lakh shares, a 14.65-fold surge over two-week average daily volume of 69,000 shares. The stock slipped 13.85% at Rs 282.45.

Markans Pharma clocked volume of 85.62 lakh shares, a 13.02-fold surge over two-week average daily volume of 6.58 lakh shares. The stock jumped 19.58% at Rs 48.55 after UK health regulator completed inspection of the companys plant in Goa without issuing any critical observations on the facility.

Tech Electric and Engineering Company saw volume of 4.68 lakh shares, a 11-fold rise over two-week average daily volume of 43,000 shares. The stock rose 0.43% at Rs 370.25.

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Marksans Pharma spurts after UK MHRA completes inspection of Goa plant
Feb 20,2017

The announcement was made during trading hours today, 20 February 2017.

Meanwhile, the BSE Sensex was up 93.29 points, or 0.33%, to 28,562.04.

On the BSE, so far 85.26 lakh shares were traded in the counter, compared with average daily volumes of 3.66 lakh shares in the past one quarter. The stock had hit a high of Rs 48.70 and a low of Rs 41.65 so far during the day.

The stock hit a 52-week high of Rs 58.30 on 4 October 2016. The stock hit a 52-week low of Rs 33.45 on 1 March 2016. The stock had underperformed the market over the past 30 days till 17 February 2017, rising 2.27% compared with the 4.25% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 5.03% as against Sensexs 8.87% rise.

The small-cap company has equity capital of Rs 40.93 crore. Face value per share is Re 1.

Marksans Pharma said that its plant located at L-82 and L-83, Verna Industrial Estate, Verna, Goa - 403 722 has had an inspection by UK Medicines and Healthcare products Regulatory Agency (UK MHRA) from 14 February 2017 to 17 February 2017. The same has been completed without any critical observations. The company is awaiting further instruction from the agency in this regard.

On a consolidated basis, net profit of Marksans Pharma declined 36.98% to Rs 11.30 crore on 1% decline in net sales to Rs 215.24 crore in Q3 December 2016 over Q3 December 2015.

Marksans Pharma is a global pharmaceutical company. It is engaged in research & development (R&D) and offers CRAMS (contract research and manufacturing services) to global pharmaceutical companies.

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Marksans Pharma intimates of completion of inspection of Goa plant
Feb 20,2017

Marksans Pharma announced that the Companys plant located at L-82 & L-83, Verna Industrial Estate, Verna, Goa - 403 722 has had an inspection by UK MHRA from 14 February 2017 to 17 February 2017. The same has been completed without any critical observations.

The Company is awaiting further instruction from the agency in this regard.

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Board of Cheviot Company withdraws scheme of amalgamation
Feb 20,2017

Cheviot Company announced that the Board of Directors of the Company at its meeting held on 20 February 2017 has decided to withdraw the scheme of amalgamation between Harsh Investments and Cheviot Company with immediate effect.

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Titan Company gets High Court approval for scheme of arrangement
Feb 20,2017

Titan Company announced that Honble High Court of Madras has sanctioned the Scheme of Arrangement between Titan Company and Titan Engineering & Automation for transfer of Precision Engineering Business Undertaking of the Titan Company to Titan Engineering & Automation in terms of an order passed on 12 December 2016.

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Zee Learn allots 24723 equity shares
Feb 20,2017

Zee Learn announced that the ESOP Allotment Sub-Committee of the Company at its meeting held on 20 February 2017 has approved allotment of total 24,723 equity shares consisting of 16,598 Equity Shares of Re. 1/- at an exercise price of Rs. 20.85 per Equity Share; 8,125 Equity Shares of Re. 1/- at an exercise price of Rs. 35.25 per Equity Share; under the ZLL ESOP 2010 - AMENDED 2015 Scheme.

Consequent to the above allotment, the paid up share capital of the Company has increased from 321,536,058 equity shares of Re. 1/- each aggregating Rs. 321,536,058/- to 321,560,781 equity shares of Re. 1/- each aggregating Rs. 321,560,781/-.

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Deepak Fertilisers nudges higher after commencing production at brownfield unit
Feb 20,2017

The announcement was made during market hours today, 20 February 2017.

Meanwhile, the S&P BSE Sensex was up 60.61 points or 0.21% at 28,529.19.

On the BSE, 48,000 shares were traded on the counter so far as against the average daily volumes of 53,528 shares in the past one quarter. The stock had hit a high of Rs 262 and a low of Rs 250.60 so far during the day.

The stock had hit a record high of Rs 284 on 16 January 2017 and a 52-week low of Rs 130.10 on 18 February 2016. The stock had underperformed the market over the past one month till 17 February 2017, sliding 6.55% compared with the Sensexs 4.53% rise. The scrip had, however, outperformed the market over the past one quarter, gaining 25.77% as against the Sensexs 8.54% rise.

The small-cap company has equity capital of Rs 88.20 crore. Face value per share is Rs 10.

Deepak Fertilisers and Petrochemicals Corporation (DFPCL) said it has started commercial production of its new grades of NPK fertilisers under its flagship brand Mahadhan.

The new manufacturing facility at Taloja is installed with the latest INCR0 technology and has a provision of manufacturing multiple grades of fertilizers. Being a brownfield project, significant cost optimisation is achieved and the total investment is below Rs 800 crore. This is the only fertilizer plant in india that has one-of-its kind fully automated bagging facility. The new state-of-the art facility is set to augment companys production capacity byalmost four times, from the current 3 lakh tonne to 11 lakh tonnes in a phased manner.

With the increased capacity, DFPCL will be the largest manufacturer of NPK fertilizers in Maharashtra. In addition to its core markets of Maharashtra, Karnataka and Gujarat, DFPCL will also cater to newer geographies in Southern and Northern agrarian markets of the country.

DFPCLs net profit surged 104.9% to Rs 46.62 crore on 4.7% decline in net sales to Rs 1050.50 crore in Q3 December 2016 over Q3 December 2015.

DFPCL is among Indias leading producers of industrial chemicals and fertilisers. The company offers a basket of over 48 traded products which include bulk fertilizers, specialty fertilizers, water soluble fertilizers, micro nutrients and secondary nutrients.

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Marksans Pharma leads gainers on BSEs A group
Feb 20,2017

Marksans Pharma rose 17.98% at Rs 47.90. The stock topped the gainers in A group. On the BSE, 58.75 lakh shares were traded on the counter so far as against the average daily volumes of 6.58 lakh shares in the past two weeks.

Jindal Steel & Power rose 9.31% at Rs 101.60. The stock was the second biggest gainer in A group. On the BSE, 44.21 lakh shares were traded on the counter so far as against the average daily volumes of 20.51 lakh shares in the past two weeks.

Adani Enterprises rose 5.87% at Rs 99.20. The stock was the third biggest gainer in A group. On the BSE, 7.48 lakh shares were traded on the counter so far as against the average daily volumes of 7.31 lakh shares in the past two weeks.

Amtek Auto rose 5.87% at Rs 36.10. The stock was the fourth biggest gainer in A group. On the BSE, 4 lakh shares were traded on the counter so far as against the average daily volumes of 7.70 lakh shares in the past two weeks.

Hindustan Construction Company rose 5.66% at Rs 41.05. The stock was the fifth biggest gainer in A group. On the BSE, 10.92 lakh shares were traded on the counter so far as against the average daily volumes of 7.23 lakh shares in the past two weeks.

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India Finsec provides update on proposed public issue of subsidiary IFL Enterprises
Feb 20,2017

India Finsec announced that IFL Enterprises (Subsidiary of India Finsec) has been granted in-principle approval by BSE to the proposed Public issue of 16,26,000 Equity Shares of Rs. 10/- each for cash at a price of Rs. 20 per Equity Share (including a share premium of Rs.10 per Equity Share) aggregating to Rs. 325.20 Lakhs on BSE SME Platform.

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Maruti Suzuki Smart Hybrid Vehicles reach sales milestone
Feb 20,2017

Maruti Suzuki India announced that its Smart Hybrid Vehicles - Ciaz SHVS and Ertiga SHVS - have crossed sales of 1 lakh units this month. This marks the success of Maruti Suzukis efforts in hybrid and electric mobility in India.

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Uflex wins ABP News CSR Leadership honours
Feb 20,2017

Uflex has been conferred with two top honours for its social and environmental sustainability initiatives at the ABP News CSR Leadership Awards 2017.

Uflexs Natural Resources Conservation & Optimization of Ecosystem Services intervention was acknowledged as the Best Environment Friendly Project.

Sports for Growth by Uflex was adjudged as the Best Corporate Social Responsibility Initiative in Sport.

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Moschip surges after signing MoU for a smart center at Amaravathi, AP
Feb 20,2017

The announcement was made on Saturday, 18 February 2017.

Meanwhile, the S&P BSE Sensex was up 65.13 points or 0.23% at 28,533.88.

On the BSE, 78,000 shares were traded on the counter so far as against the average daily volumes of 2.79 lakh shares in the past one quarter. The stock opened with a upward gap of 5% and remained locked at that level at Rs 53.70 so far during the day.

The stock had hit a 52-week high of Rs 68.55 on 11 January 2017 and a 52-week low of Rs 5.22 on 18 February 2016. The stock had underperformed the market over the past one month till 17 February 2017, sliding 19% compared with the Sensexs 4.53% rise. The scrip had, however, outperformed the market over the past one quarter, gaining 38.62% as against the Sensexs 8.54% rise.

The small-cap company has equity capital of Rs 22.85 crore. Face value per share is Rs 2.

Moschip Semiconductor Technology (MosChip) said it has signed a binding memorandum of understanding (MoU) for establishment and maintenance of smart center with centralised command and monitoring system (CCMS) in Andhra Pradesh, on sub-contracting basis.

The total value of the sub-contract is Rs 83 crore to be implemented in 24 months, providing CCMS Solution to selected gram panchayats in Andhra Pradesh. A centralized smart center will be established in Amaravathi, the new capital city of Andhra Pradesh to manage and monitor the entire process of automation and is designed to adhere to additional internet of things (IOT) services in the future. The engagement also includes seven years maintenance contract.

On a consolidated basis, Moschip Semiconductor Technology reported net profit of Rs 0.37 crore in Q3 December 2016, compared with net loss of Rs 1.75 crore in Q3 December 2015. Net sales rose 957.4% to Rs 14.38 crore in Q3 December 2016 over Q3 December 2015.

Moschip Semiconductor Technology is a fabless semiconductor company. The companys principal activity includes software development and designing.

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