My Application Form Status

Check the status of your application form with Angel Broking.
Arq - The Hyper Intelligent Investment Engine By Angel Broking
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.

Powered by Capital Market - Live News

Shankara Building Products in focus on debut
Apr 05,2017

Shares of Shankara Building Products will debut on the bourses today, 5 April 2017. The initial public offer (IPO) of Shankara Building Products received bids for 22.17 crore shares compared to 52.94 lakh shares on offer. The IPO was subscribed 41.88 times. The IPO opened on 22 March 2017 and closed on 24 March 2017. The issue price was fixed at top end of the price band of Rs 440 to Rs 460 per share.

The qualified institutional buyers (QIBs) category was subscribed 51.62 times. The non institutional investors category, made up of high net-worth individuals, was subscribed 90.68 times. The retail individual investors (RIIs) category was subscribed 15.35 times.

Shankara Building Products is one of the leading organized retailers of home improvement and building products in India, operating under the trade name, Shankara BuildPro, since the past two decades.

Dr Reddys Laboratories will be watched. With reference to a news item captioned, US FDA started Srikakulam inspection on March 27, 2017. No major observation from US FDA yet on Srikakulam plant, the company clarified that the reports being flashed by some media are speculative and unverified.

The company has not issued any statement as the audit is still in progress. The company said it regularly informs all concerned on material events and presently does not have any other information which is material to the companys operations or consolidated results. The clarification was issued after market hours on Monday, 3 April 2017.

NTPC said that Unit 2 of 250 megawatts (MW) of Bhartiya Rail Bijlee Company (BRBCL-a subsidiary of NTPC) has been commissioned on 3 April 2017. Further, NTPC has also commissioned its first wind turbine of 2 MW at Rojmal Wind Power Project (50 MW). With this, the commissioned capacity of NTPC and NTPC group has become 43534 MW and 50750 MW respectively. The announcement was made on Tuesday, 4 April 2017, when the stock markets were shut on account of local holiday.

The Committee of Directors of IL&FS Transportation Networks had approved on 31 March 2017, the allotment of 7,500 Rated, Listed, Redeemable, Non-Convertible Debentures of the face value of Rs 10,00,000 aggregating to Rs 750 crore on a private placement basis. The announcement was made on Tuesday, 4 April 2017, when the stock markets were shut on account of local holiday.

TVS Motor Company said its total sales rose 10% to 2.56 lakh units in March 2017 over March 2016. Total two-wheeler sales increased by 10.7% to 2.50 units in March 2017 over March 2016. Total three-wheeler sales fell 8.72% to 5,362 units in March 2017 over March 2016. Total exports grew 23.6% to 38,462 units in March 2017 over March 2016. The announcement was made after market hours yesterday, 3 April 2017.

Further, the company informed that it had commenced manufacture and sale of BS IV compliant inventory much before the transition date of 31 March 2017. Consequently, the stocks of BS III compliant products with the dealers were progressively coming down. However, on 29 March 2017 by its order, the Supreme Court of India permitted sale of such BS III emission compliant products only up to 31 March 2017. Accordingly, the company within the framework provided by the court order extended suitable required support to the dealers to enable them to offer attractive incentive schemes to customers to sell the BS III compliant stocks. The dealers have confirmed that majority of such stocks have been sold by 31 March 2017. The company is assessing the one-time impact of this transition on the financials of the company.

NMDC kept its iron ore prices unchanged in April 2017 compared with March 2016. NMDC said its lump ore prices were constant at Rs 2425 per wet metric tonne (WMT) in April 2017. Price of fines were constant at Rs 2185 per WMT in April 2017. The announcement was made after market hours yesterday, 3 April 2017.

MEP Infrastructure Developers said it entered into memorandum of understanding (MoU) with CIDB Holdings SDN BHD, a fully-owned subsidiary of the Construction Industry Development Board (CIDB Malaysia), to strengthen, promote and develop their cooperation by knowledge sharing and introducing best practices towards joint development of sustainable highway and expressways projects in India and related investments. The activities mentioned above may be carried out in India or any other country as may be mutually agreed upon. The announcement was made after market hours yesterday, 3 April 2017.

Powered by Capital Market - Live News

Indian markets closed for local holiday
Apr 04,2017

Indias stock, currency and derivatives market were closed on Tuesday (04 April 2017) due to local holiday on account of Ram Navami. The markets will resume trading on wednesday.

Powered by Capital Market - Live News

Tata Teleservices (Maharashtra) gets revision in credit ratings
Apr 04,2017

Tata Teleservices (Maharashtra) announced that CARE has revised the credit ratings of various credit facilities of the Company as under -

Long term bank facilities (Rs 5433 crore) - CARE A-/ Negative (Revised from CARE A)

Bank facilities fund based LT cash credit (Rs 140 crore) - CARE A-/ Negative (Revised from CARE A)

Bank facilities non fund based ST -BG (Rs 1005 crore) - CARE A2+ (Revised from CARE A1)

Bank facilities fund based ST- term loan (Rs 550 crore) - CARE A2+ (Revised from CARE A1)

Bank facilities - proposed (Rs 98 crore) - CARE A-/ Negative / CARE A2+ (Revised from CARE A / CARE A1)

Powered by Capital Market - Live News

Moodys assigns Baa2 ratings to Oil Indias proposed USD bonds
Apr 04,2017

Moodys Investors Service has assigned a Baa2 rating to Oil Indias (OIL) proposed foreign currency senior unsecured bonds to be issued by Oil India International, a wholly-owned subsidiary of OIL.

The net proceeds from the bond issuance will be used for refinancing the companys foreign currency borrowings for an acquisition in Russia.

The ratings outlook is stable.

RATINGS RATIONALE

The proposed foreign currency bonds are rated at the same level as OILs foreign currency issuer ratings because the bonds are unconditionally and irrevocably guaranteed by OIL and the guarantee is pari passu to all senior unsecured obligations of OIL.

Even though the guaranteed amount has been restricted to 110% of the principal amount of the bonds outstanding, we view it as sufficient to cover the amounts due to bondholders. The restriction of a guarantee to a finite amount is driven by regulations in India, which do not allow open-ended guarantees for obligations of offshore subsidiaries, rather than an actual intention on OILs part to restrict its liability under the bonds, says Vikas Halan, a Moodys Vice President and Senior Credit Officer.

OILs issuer ratings incorporate our expectation that despite the companys weakened credit metrics, following the acquisition of upstream assets in Russia, its financial profile will be consistent with the Baa2 ratings over at least the next 12-18 months, says Halan, who is also Moodys Lead Analyst for OIL.

However, the headroom for OILs ratings category is now minimal for further debt-funded acquisitions, shareholder payments or a weaker operating performance, adds Halan.

OILs Baa2 ratings is supported by a) its position as the second largest state-owned E&P company in India, accounting for about 9.7% (excluding condensate) and 8.8% of the total production of crude oil and natural gas in the country respectively, b) its operating track record of more than 50 years, and c) its competitive cost position from its onshore production, resulting in high profitability and its ability to generate solid operating cash flow.

Settlement of OILs contingent royalty claims of INR104 billion in February 2017 by a direct payment by the central Government of India (Baa3 positive) to the state governments of Gujarat and Assam is credit positive.

OILs rating, however, is constrained by a) its relatively small scale of production, b) its exposure to the ad hoc but improving fuel subsidy-sharing mechanism in India, c) execution risk from its inorganic and organic growth strategy in areas where it does not have an extensive track record, such as overseas and offshore fields, and d) narrow headroom for its credit metrics under its rating category.

The ratings outlook is stable, reflecting Moodys expectation that: 1) OILs fuel subsidy burden will remain at near zero levels, as long as oil prices stay below $60/barrel, and 2) OILs growth plan will continue to be executed within the tolerance level of its current ratings.

A ratings upgrade is unlikely because OILs ratings remain constrained by the scale of the companys reserves and production.

Negative pressure on the ratings could develop if the oil price environment were to deteriorate significantly, such that oil prices fall and stay below $35 over a prolonged period.

Negative pressure could also develop if OIL makes further large debt-funded acquisitions, resulting in weaker credit metrics.

Credit metrics indicative of downward pressure on the ratings include RCF/debt below 25% and EBITDA/interest below 5x. Moodys notes that while OILs RCF/debt will likely remain below the downgrade threshold over the next two years, RCF/net debt above 30%-35% will allow some time for its credit metrics to recover.

Powered by Capital Market - Live News

Foseco India to hold AGM
Apr 04,2017

Foseco India announced that the 60th Annual General Meeting(AGM) of the company on 27 April 2017.

Powered by Capital Market - Live News

Ashok Leyland announces sales figures
Apr 04,2017

Ashok Leyland has reported total sales of 18,682 units in March 2017 compared to 16,702 units in March 2016, recording a growth of 12%. For the period, April - March 2017, total sales stood higher by 3% at 145,066 units compared to corresponding period of previous year.

Powered by Capital Market - Live News

Mahindra & Mahindra provides update on BS III vehicles inventory
Apr 04,2017

Mahindra & Mahindra announced that the total inventory of BS-III Vehicles that the Company had before the Supreme Court verdict was worth little over Rs.2,000 crore and the Company has been able to remove more than half of it at a discount of upto 15%. The Company and industry has incurred a loss because of the heavily discounted sale that it had to do on 30 March and 31 March 2017.

The Company still has an inventory of approximately 18,000 BS-III vehicles (two wheelers to trucks). The Company may be able to export some of these vehicles which will not incur much of a cost; and convert some of these vehicles to BS-IV, which will have a cost of as little as Rs.3,000-4,000 for some of the Small Commercial Vehicles to as much as Rs.2,00,000 for HCVs. Some of the vehicles can neither be exported nor converted to BS-IV.

Powered by Capital Market - Live News

Revenue Department exceeds Revised Tax Collections target for 2016-17 around 18% taken together in case of Direct and Indirect Taxes
Apr 04,2017

The total tax revenue targets of the revised estimates for 2016-17 for both Direct and Indirect Taxes was Rs. 16.97 lakh crore of which 8.47 lakh crorewas for Direct Tax and Rs.8.5 lakh crore from Indirect Tax. It may be recalled that the Revised Estimate figures of 2016-17 was Rs.16.97 lakh crore compared to the Budget Estimates figures of Rs.16.25 lakh crore in 2016-17. As against the Revised Estimate, the provisional figure of tax collection is Rs 17.10 lakh crore, which is a growth of around 18% compared to last year.

Direct Taxes

The provisional figures for Direct Tax collections up to March, 2017 show that net collections are at Rs. 8.47 lakh crore which is 14.2% more than the net collections for the corresponding period last year, which is a major increase compared to the growth rate of the previous FY. Net direct tax collections stand at Rs 8.47 lakh crore which shows 100% achievementfor F.Y 2016-17.

As regards the growth rates for Corporate Income Tax (CIT) and Personal Income Tax (PIT), in terms of gross revenue collections, the growth rate under CIT is 13.1% while that under PIT (including STT) is 18.4%. However, after adjusting for refunds, the net growth in CIT collections is 6.7% while that in PIT collections is 21.0%. Refunds amounting to Rs.1.62 lakh crore have been issued during April 2016-March 2017, which is 32.6% higher than the refunds issued during FY 2015-16.

Indirect Taxes

The figures for indirect tax collections (Central Excise, Service Tax and Customs) in FY 2016-17are at Rs 8.63 lakh crore, which is 22.0%higher than the actual revenue receipts in FY 2015-16. Till March 2017, about 101.35% of the Revised Estimates (RE) of indirect taxes for Financial Year 2016-17 has been achieved.

As regards Central Excise, net tax collections stood at Rs. 3.83 lakh crore during FY 2016-17 as compared to Rs.2.86 lakh crore in the previous Financial Year, thereby registering a growth of 33.9%.

Net Tax collections on account of Service Tax during FY 2016-17 stood at Rs. 2.54 lakh crore as compared to Rs.2.11 lakh crore in the previous Financial Year, thereby registering a growth of 20.2%.

Net Tax collections on account of Customs during FY 2016-17 stood at Rs. 2.26 lakh crore as compared to Rs. 2.10 lakh crore in the previous Financial Year, thereby registering a growth of 7.4%.

Powered by Capital Market - Live News

Moodys keeps SBIs USD note drawdown unchanged at Baa3 following upsize
Apr 04,2017

Moodys Investors Service, (Moodys) has kept unchanged its rating for State Bank of Indias (SBI, Baa3 positive, ba1) senior unsecured notes, issued under its US$10 billion Medium-Term Note (MTN) program at Baa3, after the issuance was upsized to USD 600 million from USD 500 million.

The upsize will be carried out from its London branch, and the bonds will be listed on the Singapore Stock Exchange.

The outlook on the ratings, where applicable, is positive.

The Baa3 rating on the notes is based on the executed pricing supplement and the banks MTN prospectus.

The Baa3 foreign currency senior unsecured debt rating is anchored on SBIs ba1 baseline credit assessment (BCA) and Moodys assessment of the likelihood of a very high level of support from the Indian government (Baa3 positive) in a stressed situation.

SBIs BCA of ba1 is underpinned by the banks solid franchise as Indias largest bank by assets and deposits, as well as its strong core earnings (pre-provisioning profits) profile and stable capital levels. While SBIs underlying asset quality has stabilized, the BCA also takes into consideration residual asset quality issues as a result of delayed recognition, and the associated impact of high credit costs on the banks profits as it devotes resources to rebuilding its provisioning coverage.

The banks final Baa3 rating incorporates a one-notch uplift due to Moodys assumption of the banks very high level of support from the Indian government in a stressed situation. The assumption of high support is based on a combination of its large size and critical role in Indias payment system, representing around 16.3% of system loans and 17.6% of system deposits as of end-March 2016, its nationwide reach, and the governments 60.18% stake in SBI.

What Could Change the Rating - Up

SBIs senior unsecured debt and deposit ratings could be upgraded if the India sovereign rating (Baa3, positive) is upgraded.

What Could Change the Rating - Down

SBIs BCA could face downward pressure if: (1) its NPL ratio increases substantially from current levels; and/or (2) if its core earnings fall and impacts its ability to support an increase in credit costs. Additionally, any indications that support from the Government of India has diminished, or that additional capital requirements may arise beyond the governments budgeted amount, could put the banks ratings under pressure. Any downward changes in the sovereigns ceilings could also affect the banks ratings.

Powered by Capital Market - Live News

Elantas Beck India to hold AGM
Apr 04,2017

Elantas Beck India announced that the th Annual General Meeting(AGM) of the company on 10 May 2017.

Powered by Capital Market - Live News

Bank of India to hold EGM
Apr 04,2017

Bank of India announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 4 May 2017 .

Powered by Capital Market - Live News

Gopala Polyplast to hold board meeting
Apr 04,2017

Gopala Polyplast will hold a meeting of the Board of Directors of the Company on 4 April 2017.

Powered by Capital Market - Live News

SPS International to hold board meeting
Apr 04,2017

SPS International will hold a meeting of the Board of Directors of the Company on 4 April 2017.

Powered by Capital Market - Live News

All-India House Price Index (HPI) rises 2.2% in Q3 of 2016-17
Apr 04,2017

The Reserve Bank today released the quarterly House Price Index (HPI)1 (base 2010-11=100) for Q3 of 2016-17, based on transaction data received from housing registration authorities in 10 major cities (viz., Mumbai, Delhi, Chennai, Kolkata, Bengaluru, Lucknow, Ahmedabad, Jaipur, Kanpur and Kochi).

The All-India HPI recorded a sequential increase of 2.2% in Q3 of 2016-17. Seven of the ten cities recorded a rise in the latest quarter.

Annual growth in All-India HPI increased by 60 basis points to 8.3% in Q3 of 2016-17. It, however, remained lower than 9.7% annual growth recorded a year ago.

There was wide divergence in city-wise housing price movements. Annual growth in HPI ranged from 19.3% (Lucknow) to (-) 5.4% (Jaipur) in Q3 of 2016-17. All the metro cities witnessed housing price-rise on Y-o-Y basis, though Chennai witnessed some moderation during the latest two quarters.

The city-wise HPIs also witnessed large variance in sequential terms (i.e., Q3 of 2016-17 over Q2 of 2016-17) - Kanpur recorded highest rise (12.1%) whereas Kochi witnessed significant contraction ((-) 4.7%).

Powered by Capital Market - Live News

Like tax for like products-Federation of Biscuit Manufacturers of India (FBMI)
Apr 04,2017

Federation of Biscuit Manufacturers of India (FBMI), representing Rs.27,000 crores, organized biscuit Industry, is proud to be a part of the ONE NATION, ONE MARKET initiative, to be achieved through GST. FBMI, affiliated to PHD Chamber of Commerce and Industry has been supporting various initiatives of the government for more than 60 years. It has contributed to the nations goals of achieving food safety, food fortification and wastage reduction.

FBMI is fully supportive of the mammoth efforts of the Government in transforming the current indirect tax regime through GST, through participative and consensus-building process.

With 93% of the food basket comprising basic food, which is proposed to be exempt or taxed at lower GST rate, taxing the remaining 7% that comprises processed food items at higher GST rate will not be in the interest of fairness and simplicity, the basic goals of GST.

Biscuits are an affordable and nutritious food item for all ages and socio-economic segments, consumed by 85% of all households and across all income segments in India. Commensurate with the growth in the aspiring middle class, there has been an increase in the consumption of all types of biscuits. More varieties are now available and being bought across all income segments. Given this, the tax system should not distort or interfere with the different products being introduced in the market, nor with the choices among them.

Differentiating between different varieties will create complexity and classification disputes

FBMI does not endorse differentiation in GST rates within biscuits, as all varities of biscuits, such as cookies, creams, crackers and glucose, are available at the same price points.

Any distortion in the rates within competing products in this sector will create artificial layers. It will encourage spurious products to the detriment of the consumers. Moreover, it will make GST complex to administer and difficult to comply with by the traders, kirana stores etc. involved in the sale of these products. There is a predominance of the SMEs at the retail level and they will are ill-equipped to handle multiple rates within a sector or industry. GST provides the right opportunity to correct these anomalies, by providing a simple uniform lower GST rate on all biscuits, instead of price based taxation.

Further, discrimination of food products, on the basis of their being branded or un-branded, premium or non-premium, will not only be against the principles of efficiency and equity, but will also lead to classification disputes and complex record-keeping and compliance system.

Hence, FBMI, in a representation to the Government, has requested for a fair, simple, equitable and neutral GST regime. This will be in line with the other good policy initiatives being taken by the government, such as ease of doing business and a liberal FDI policy, to attract new investors in the food processing sector in India and encourage existing businesses to expand.

FBMI is of the view that GST regime can reach its optimum efficiency in tax collection, by expansion of tax base within biscuit industry at lower merit rate and not by taxing a section of the consumers at higher rates at the cost of others.

A higher GST rate, even for a segment of biscuits, would impact demand in the entire value chain. It would result in cutting down on procurement of raw materials by biscuit manufacturers, that would adversely impact farmers across India. Lower demand will also negatively impact investments, exports and employment in the food industry.

Powered by Capital Market - Live News