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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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Rajvir Industries to conduct board meeting
Aug 14,2017

Rajvir Industries will hold a meeting of the Board of Directors of the Company on 21 August 2017.

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S Chand & Company to declare Quarterly Result
Aug 14,2017

S Chand & Company will hold a meeting of the Board of Directors of the Company on 21 August 2017, to consider and approve the Unaudited Standalone Financial Results for the quarter ended June 30, 2017.

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Precision Camshafts fixes record date for Final Dividend
Aug 14,2017

Precision Camshafts has fixed 20th September 2017 as the Record Date for the purpose of payment of Final Dividend.

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Orient Abrasives fixes record date for dividend
Aug 14,2017

Orient Abrasives has fixed 09th September 2017 as the Record Date for the purpose of payment of Dividend.

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Housing Development & Infrastructure updates on Subsidiary
Aug 14,2017

The Board of Housing Development & Infrastructure on 11th August 2017 in line with its earlier decision has announced that the Company had transferred the Equity Shares of H. C. Infracity Private Limited, pursuant to which the said Company ceases to be a subsidiary of Housing Development & Infrastructure.

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Moodys: Asian high-yield corporates to record low default rate at end-2017
Aug 14,2017

Moodys Investors Service says that the default rate for Asian high-yield non-financial corporates will remain low, registering 2.9% at end-2017.

The low projected default rate reflects broad-based global growth, the recovery of commodity prices, and our expectation of cautious monetary tightening in major economies, including the US, China and EU, says Clara Lau, a Moodys Group Credit Officer.

And, the gradual normalization of monetary policy in these major economies will support near-term market liquidity, adds Lau. Meanwhile, a buoyant bond market since the start of 2017 has allowed many Asian companies to raise funds to meet their refinancing and capital needs; thereby easing liquidity pressure and lowering default risks.

On metals & mining companies which were major default contributors in the past two years , Moodys report says that easing pressure on such businesses because of the bottoming out of commodity sectors and recovery in commodity prices will help keep the overall default rate low.

Moodys points out that the Asian trailing 12-month non-financial high-yield corporate default rate was at 1.5% at end-June 2017. This result was lower than the 4.9% at end-June 2016, and in line with the default trend in Moodys global and US portfolios.

Moodys global and US speculative-grade default rates fell to 3.2% and 3.8% at end-June 2017 from 4.7% and 5.5% at end-June 2016.

In Europe, the default rate stayed flat at 2.7% at end-June 2017 versus 2.6% the year before.

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Mercator to consider Demerger opportunities
Aug 14,2017

The Board of Directors of Mercator at their meeting held on 12th August 2017 have initiated a study to explore the possibility of demerger of business via restructuring of Shipping and Dredging business into separate entities which would facilitate value discovery, creation of focus entities with identified business objectives and opportunities to independently augment their growth plans. In this regard, the Board has constituted a Special Committee of Directors to consider the matter further.

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Trident fixes record date for interim dividend
Aug 14,2017

Trident has fixed 25th August 2017 as the record date for the purpose of first interim dividend on Equity Share Capital of the Company for the Financial Year 2017-18.

The interim dividend will be credited to the respective equity shareholders by 9th September 2017.

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Archidply Industries to appoint advisor/consultant
Aug 14,2017

The Board of Archidply Industries on 12th august 2017 has decided to appoint advisor/Consultant for Valuation report, Fairness opinion Etc. and sought other relevant information regarding the Scheme of arrangement of demerger of Chintamani Unit to take the final decision on the same in the next Board Meeting.

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Adani Ports recovers after posting Q1 results
Aug 14,2017

The announcement of results was made on Saturday, 12 August 2017. The stock had dropped 7.27% in three sessions to settle at Rs 383.90 on 11 August 2017, from a close of Rs 414 on 8 August 2017 ahead of the results.

Meanwhile, the S&P BSE Sensex was up 214.63 points or 0.69% at 31,428.22.

On the BSE, 21,989 shares were traded on the counter so far as against the average daily volumes of 3 lakh shares in the past one quarter. The stock had hit a high of Rs 405.20 and a low of Rs 385.80 so far during the day. The stock had hit a record high of Rs 421.60 on 8 August 2017. The stock had hit a 52-week low of Rs 243.95 on 10 August 2016.

The stock had outperformed the market over the past one month till 11 August 2017, gaining 3.2% compared with the Sensexs 1.68% decline. The stock had also outperformed the market over the past one quarter, rising 6.95% as against the Sensexs 3.18% rise. The scrip had also outperformed the market over the past one year, gaining 51.38% as against the Sensexs 12.04% rise.

The large-cap company has equity capital of Rs 414.19 crore. Face value per share is Rs 2.

Adani Ports & Special Economic Zones (APSEZ) consolidated net profit fell 13.7% to Rs 710.25 crore on 50.3% rise in net sales to Rs 2745.14 crore in Q1 June 2017 over Q1 June 2016.

The company said that the net profit in Q1 June 2017 was lower due to higher tax incidence at Mundra Port which is now out of tax holiday period. However, from a tax cash flow angle, there is no change (impact) as minimum alternate tax (MAT) credit of earlier years is available to the tune of Rs 2700 crore.

Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ said that the operations in port and logistic business continues to be robust. With string of ports across India providing multi point access to Indias hinterland, the company expects cargo volumes to grow as per earlier guidance in FY 2018. Mundra port is on the verge of becoming the largest container handling port in India.

The company would continue to pursue plans to expand logistic foot prints by adopting asset light model. Higher capacity utilization, focus on operational efficiencies by automation and technology upgrades and focus on cost reduction will ensure higher cash flows, he added.

Adani Ports and Special Economic Zone is Indias largest port developer and the logistics arm of Adani Group.

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Avanti Feeds hits record high after stellar Q1 numbers
Aug 14,2017

The result was announced after market hours on Friday, 11 August 2017.

Meanwhile, the S&P BSE Sensex was up 227.05 points, or 0.73% at 31,440.64. The S&P BSE Mid-Cap index was up 234.86 points, or 1.59% at 14,961.13.

High volumes were witnessed on the counter. On the BSE, 43,000 shares were traded on the counter so far as against the average daily volumes of 27,648 shares in the past one quarter. The stock had hit a high of Rs 1,974.10 so far during the day, which is also its record high. The stock hit a low of Rs 1,850 so far during the day. The stock had hit a 52-week low of Rs 411 on 9 November 2016.

The stock had outperformed the market over the past one month till 11 Aug 2017, advancing 2.6% compared with the Sensexs 1.68% fall. The scrip had also outperformed the market over the past one quarter advancing 83.98% as against the Sensexs 3.18% rise. The scrip had also outperformed the market over the past one year advancing 177.33% as against the Sensexs 12.04% rise.

The mid-cap company has equity capital of Rs 9.08 crore. Face value per share is Rs 2.

Avanti Feeds is the leading manufacturer of prawn and fish feeds and shrimp processor and exporter from India.

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Trident to pay dividend
Aug 14,2017

The Board of Trident on 12th August 2017 has declared 1st Interim Dividend of Rs 0.60 (6%) per fully paid up Equity Shares of Rs 10/- each of the Company for the financial year 2017-18. The said dividend will be credited/ dispatched to the to the respective equity shareholders by September 9, 2017 i.e. within 15 days of the Record Date.

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NHAI to start work on project to decongest Dhaula Kuan - Airport Road Section of NH8
Aug 14,2017

Shri Nitin Gadkari, the Minister for Road Transport & Highways and Shipping will lay the foundation stone on 14th of August, for NHAIs project to decongest one of Delhis most congested corridors which leads to Indira Gandhi International Airport. The first bottleneck is junction of station road with NH8 in front of Metro station. As per NHAI plan, this junction is being made signal free. To achieve this, a flyover is proposed to be constructed on right carriageway i.e. for traffic from Gurgaon to Delhi. At this junction, provision for U turn of traffic is also being provided. Further, two foot over bridges with escalators are also to be constructed for facilitating pedestrians. For segregating buses, proper bus bay is being provided. On station road a Vehicular Underpass is being constructed for facilitating smooth movement of Defence personnel.

The stretch from Dhaula Kuan Junction to Parade Road is proposed to be widened to ensure minimum four lanes on either side for through traffic. Near junctions additional structures are provided. In this stretch a Vehicular Underpass is also proposed to be constructed for connecting defence establishments on either side. It would also be connected with Manikshaw Centre.

At Parade Road Junction, the curve is being improved by road widening to allow smooth turning of traffic towards airport/ Gurgaon. At this junction, a Vehicular Underpass is being constructed for direct access to Parade Road. With this, the existing signals on these two junctions would be removed.

The project has already been sanctioned at a cost of Rs 260 crores. For undertaking this project, Ministry of Defence has agreed to transfer 13 acres of land to NHAI. For junction improvement, part of land is also required from police station. The bids for the project have been received and work is likely to start in October, 2017. The time period for completion of this work is 18 months.

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Jindal Poly Films appoints director
Aug 14,2017

Jindal Poly Films on 12th August 2017 has appointed Mr. Prakash Matai as Non-Executive Independent Director to the Board of the Company.

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Incentives are given to Farmers for Cultivation of Medicinal Plants: Shri Shripad Naik
Aug 14,2017

The Ministry of Ayurveda, Yoga & Naturopathy, Unani, Siddha and Homoeopathy (AYUSH), Government of India under its Centrally Sponsored Scheme of National AYUSH Mission (NAM) is providing financial assistance as subsidy to farmers to encourage cultivation of herbs/medicinal plants throughout the country.

Under NAM scheme, there is a component on Medicinal Plants which is primarily aimed at supporting cultivation of herbs/medicinal plants on farmers land with backward linkages through establishment of nurseries for supply of quality planting material, and forward linkages for post-harvest management. Presently, 140 medicinal plants species have been prioritized for supporting cultivation throughout the country for which the subsidy is provided to farmers in following pattern:

(i) 75% subsidy for cultivation of medicinal plants which are highly endangered.

(ii) 50% subsidy for cultivation of medicinal plants where sources of supply are critically declining.

(iii) 30% subsidy for cultivation of other medicinal plants species which need support.

The cultivation programme is implemented through the identified implementing agency of concerned state (generally State Agriculture / Horticulture Departments) and the financial assistance is provided as per the State Annual Action Plan approved for concerned State. As per scheme guidelines, the financial assistance to North Eastern and hilly State of Himachal Pradesh, Uttarakhand and Jammu & Kashmir is provided in the ratio of 90:10, where as in other states it is shared in the ratio of 60:40 between Central and State Government.

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