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Jindal Drilling & Industries standalone net profit declines 3.66% in the June 2016 quarter

Jindal Drilling & Industries standalone net profit declines 3.66% in the June 2016 quarter

Sep 14,2016

Net profit of Jindal Drilling & Industries declined 3.66% to Rs 9.48 crore in the quarter ended June 2016 as against Rs 9.84 crore during the previous quarter ended June 2015. Sales rose 11.24% to Rs 92.66 crore in the quarter ended June 2016 as against Rs 83.30 crore during the previous quarter ended June 2015.

ParticularsQuarter Ended
n++Jun. 2016Jun. 2015% Var.
Sales92.6683.3011
OPM %9.8912.74-
PBDT14.5518.68-22
PBT12.0915.01-19
NP9.489.84-4

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Repco Home Finance to allot NCDs aggregating Rs 100 crore
Jun 15,2017

Repco Home Finance announced that the Board vide Resolution passed by circulation on 15 June 2017, has inter alia approved the allotment of 1000 Secured, Redeemable, Non-Convertible, Non-Cumulative Debentures (SRNCD) of face value of Rs.10,00,000 each aggregating to Rs.100 crore on private placement basis.

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Aurobindo Pharma gallops after USFDA nod for generic drug
Jun 15,2017

The announcement was made during trading hours today, 15 June 2017.

Meanwhile, the S&P BSE Sensex was down 17.86 points, or 0.06% to 31,138.05.

On the BSE, 4.48 lakh shares were traded in the counter so far, compared with average daily volumes of 2.99 lakh shares in the past one quarter. The stock had hit a high of Rs 640.80 and a low of Rs 600.75 so far during the day. The stock hit a record high of Rs 895 on 6 October 2016. The stock hit a 52-week low of Rs 504 on 29 May 2017.

The stock had underperformed the market over the past one month till 14 June 2017, falling 2.12% compared with 1.87% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 12.48% as against Sensexs 5.31% rise. The scrip had also underperformed the market in past one year, falling 18.99% as against Sensexs 16.57% rise.

The large-cap company has equity capital of Rs 58.59 crore. Face value per share is Re 1.

Aurobindo Pharma announced that it has received final approval from the US Food & Drug Administration (USFDA) to manufacture Sevelamer Carbonate oral suspension, 0.8 gm and 2.4 gm. Sevelamer Carbonate oral suspension, a therapeutic equivalent generic version of Genzymes Renvela oral suspension. The product is being launched immediately.

Sevelamer Carbonate oral suspension is indicated for the control of serum phosphorus in patients with chronic kidney disease (CKD) on dialysis. The approved product has an estimated market size of $140 million in the US for the twelve months ending April 2017 according to IMS.

This is the 116th Abbreviated New Drug Application (ANDA) (including 19 tentative approvals) to be approved out of Unit VII formulation facility in Hyderabad, India used for manufacturing oral products. Aurobindo now has a total of 323 ANDA approvals (288 Final approvals including 16 from Aurolife Pharma LLC and 35 tentative approvals) from USFDA.

On a consolidated basis, net profit of Aurobindo Pharma declined 4.02% to Rs 532.45 crore on 2.50% decline in net sales to Rs 3582.13 crore in Q4 March 2017 over Q4 March 2016.

Aurobindo Pharma manufactures generic pharmaceuticals and active pharmaceutical ingredients.

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IndusInd Bank to pay dividend
Jun 15,2017

IndusInd Bank announced that dividend would be paid on or after 31 July 2017.

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Aarti Industries bags Rs 4000 crore multi-year contract
Jun 15,2017

Aarti Industries has entered into a Rs 4000 crore multi-year contract with a Global Agriculture Company for supply of a high value agrochemical intermediary.

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Ratnamani Metals & Tubes secures two orders
Jun 15,2017

Ratnamani Metals & Tubes has bagged two new orders aggregating to Rs.328.00 crores for supply of HSAW pipes of Rs.116.00 crore and supply of ERW pipes of Rs.212.00 crore for Oil and Gas Pipe lines to be completed by Dec 2017/Jan 2018.

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States shortlisted by NITI for transformative change in Health and Education
Jun 15,2017

NITI Aayog has initiated a unique and novel initiative to catalyse transformational change in key Social Sectors. Under SATH (Sustainable Action for Transforming Human Capital), NITI Aayog and its knowledge partners will provide strategic, technical and implementation support to three states for each sector. A Committee comprising of Member, NITI Aayog , Sh Bibek Debroy, CEO, Amitabh Kant, Advisers of NITI Aayog and representatives of Health and Education Ministry spent two days assessing and vetting presentations by 14 States for each of the two social sectors. The States showcased the initiatives undertaken by them thus far, their willingness to accelerate improvement and justified why they should be selected for the institutional support being offered by NITI Aayog under the program.

Transformative change in social sector is challenging as the pace is slow, as compared to the infrastructure sector. The issues are multi-layered and complex, involving both governance and building capacity of human capital. NITI Aayog has taken up this challenge and has decided to deep dive into handholding the States through a time bound and outcome oriented process. After final selection of the States, a Program Management Unit to push for efficiency and efficacy in governance structures and service delivery will be available at the State level for a period of 30 months. It is expected that these 36 months of focussed attention and support from the premier think tank will lead to a marked transformation and will also provide a model for other States to replicate and adapt.

In Health sector, five States have been shortlisted as run up to the final selection of three. These are, Uttar Pradesh, Bihar, Assam, Karnataka and Gujarat. Similarly in Education, the shortlisted States are Madhya Pradesh, Odisha, Chhattisgarh, Jharkhand and Andhra Pradesh. In both sectors, the States have to commit to a time-bound focus, governance reforms and delivery of outcomes for final selection for the partnership. The proposed partnership of NITI Aayog, States and a knowledge partner is challenging and ambitious as the baseline of various indicators and parameters of education and health in the States are in public domain. All stakeholders will be under pressure from the day of signing of the MOU to initiate reforms or processes which will show improvement in education and learning outcomes.

The initiative is interesting on another theoretical level too, as it defines a new dimension for cooperative federalism, where NITI Aayog and its knowledge partner will actively aid implementation of their recommendations, in addition to just policy inputs. Depending on the promptness of the response of governance commitments posed to them, the final selection of the three States in each of the sectors is expected to be completed in July 2017.

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Lux Inds hits record high
Jun 15,2017

Meanwhile, the S&P BSE Sensex was up 8.41 points or 0.03% at 31,164.32. The S&P BSE Small-Cap index rose 82.85 points or 0.53% at 15,671.53.

On the BSE, 95,000 shares were traded on the counter so far as against the average daily volumes of 1.24 lakh shares in the past two weeks. The stock had hit a high of Rs 1,114 so far during the day, which is a record high. The stock hit a low of Rs 1,039.05 so far during the day. The stock had hit a 52-week low of Rs 570.45 on 18 August 2016.

The stock had outperformed the market over the past one month till 14 June 2017, advancing 26.96% compared with the Sensexs 3.21% rise. The stock had also outperformed the market over the past one quarter, gaining 59.65% as against the Sensexs 5.82% rise. The scrip had also outperformed the market over the past one year, surging 69.56% as against the Sensexs 18.03% rise.

The small-cap company has equity capital of Rs 5.05 crore. Face value per share is Rs 2.

Shares of Lux Industries have risen 20.37% in two trading sessions from its closing of Rs 901.35 on 13 June 2017, after the Reliance Mutual Fund purchased bulk shares of the company via bulk deal on Tuesday, 13 June 2017. The stock had spurted 15.64% to settle at Rs 1,042.35 yesterday, 14 June 2017.

Valuead Securities sold 5.62 lakh shares of apparel firm Lux Industries at Rs 901.64 per share in a bulk deal on the BSE on 13 June 2017. Reliance Mutual Fund bought 4.44 lakh shares at Rs 900.4 per share.

Valuead Securities held 2.23% stake in Lux Industries end March 2017.

Lux Industries net profit rose 26.9% to Rs 19.59 crore on 3.6% growth in net sales to Rs 279.57 crore in Q4 March 2017 over Q4 March 2016.

Lux Industries makes various kinds of hosiery products for men, women and children.

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Board of S Chand & Company recommends final dividend
Jun 15,2017

S Chand & Company announced that the Board of Directors of the Company at its meeting held on 12 June 2017, inter alia, have recommended the final dividend of Rs 1.25 per equity Share (i.e. 25%) , subject to the approval of the shareholders.

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Norben Tea & Exports to hold AGM
Jun 15,2017

Norben Tea & Exports announced that the Annual General Meeting (AGM) of the company will be held on 28 July 2017.

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PDS Multinational Fashions to hold AGM
Jun 15,2017

PDS Multinational Fashions announced that the 6th Annual General Meeting (AGM) of the company will be held on 27 September 2017.

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Board of Rasoi recommends final dividend
Jun 15,2017

Rasoi announced that the Board of Directors of the Company at its meeting held on 29 May 2017, inter alia, have recommended the final dividend of Rs 20 per equity Share (i.e. 10%) , subject to the approval of the shareholders.

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Board of Orient Press recommends final dividend
Jun 15,2017

Orient Press announced that the Board of Directors of the Company at its meeting held on 29 May 2017, inter alia, have recommended the final dividend of Rs 1.25 per equity Share (i.e. 12.5%) , subject to the approval of the shareholders.

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Aurobindo Pharma receives final approval for Sevelamer Carbonate oral suspension
Jun 15,2017

Aurobindo Pharma has received final approval from the US Food & Drug Administration (USFDA) to manufacture Sevelamer Carbonate oral suspension, 0.8 gm and 2.4 gm. Sevelamer Carbonate oral suspension, a therapeutic equivalent generic version of Genzymes Renvelan++ oral suspension. The product is being launched immediately.

Sevelamer Carbonate oral suspension is indicated for the control of serum phosphorus in patients with chronic kidney disease (CKD) on dialysis. The approved product has an estimated market size of US$ 140 million for the twelve months ending April 2017 according to IMS.

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Cadila Healthcare gains after USFDA nod for Acyclovir
Jun 15,2017

The announcement was made during trading hours today, 15 June 2017.

Meanwhile, the S&P BSE Sensex was up 15.23 points, or 0.05% to 31,171.14.

On the BSE, 26,000 shares were traded in the counter so far, compared with average daily volumes of 1.51 lakh shares in the past one quarter. The stock had hit a high of Rs 542 and a low of Rs 528.85 so far during the day. The stock hit a record high of Rs 558 on 12 June 2017. The stock hit a 52-week low of Rs 305.05 on 24 June 2016.

The stock had outperformed the market over the past one month till 14 June 2017, rising 8.18% compared with 1.87% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 19.43% as against Sensexs 5.31% rise. The scrip had also outperformed the market in past one year, rising 65.84% as against Sensexs 16.57% rise.

The large-cap company has equity capital of Rs 102.37 crore. Face value per share is Re 1.

Cadila Healthcare said it received the final approval from the US Food and Drug Administration (USFDA) to market Acyclovir for injection USP in strengths of 500 mg/vial and 1000 mg/vial. Acyclovir for Injection USP, which caters to the anti-viral segment, will be produced at the groups formulations manufacturing facility at Moraiya, Ahmedabad.

The group now has more than 120 approvals and has so far filed over 300 Abbreviated New Drug Applications (ANDAs) since the commencement of the filing process in financial year ending March 2004.

Cadila Healthcares consolidated net profit fell 32.2% to Rs 385.5 crore on 6.5% rise in net sales to Rs 2417.50 crore in Q4 March 2017 over Q4 March 2016.

Cadila Healthcare is an innovative, global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies.

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Jindal Saw jumps after cutting stake in foreign unit
Jun 15,2017

The announcement was made after market hours yesterday, 14 June 2017.

Meanwhile, the S&P BSE Sensex was up 21.14 points, or 0.07% to 31,177.05.

On the BSE, 1.99 lakh shares were traded in the counter so far, compared with average daily volumes of 1.43 lakh shares in the past one quarter. The stock had hit a high of Rs 78.30 and a low of Rs 74.80 so far during the day. The stock hit a 52-week high of Rs 87.45 on 17 March 2017. The stock hit a 52-week low of Rs 43.56 on 12 August 2016.

The stock had underperformed the market over the past one month till 14 June 2017, falling 8.93% compared with 1.87% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 13.08% as against Sensexs 5.31% rise. The scrip had, however, outperformed the market in past one year, rising 44.59% as against Sensexs 16.57% rise.

The small-cap company has equity capital of Rs 63.95 crore. Face value per share is Rs 2.

Jindal Saw had a wholly-owned step down foreign subsidiary, namely, Jindal Tubular USA LLC (JTUL), which had acquired a pipe manufacturing plant in Mississippi, USA under Chapter XI.

JTUL had a bank debt for more than $140 million and had been incurring continuous losses since the year of acquisition, resulting into a negative net worth. Since the loan and losses were being consolidated with the financials of Jindal Saw, banks and financial institutions prevented the company to provide any cash support further. Therefore, in order to conserve the resources of the company and to seek the rating up-gradation, the ownership in JTUL was brought down to 19% by transferring the remaining equity to prevent further financial erosion of the company.

Meanwhile, Jindal Saw has also sold/disposed its shareholding in JITF Shipping & Logistics (Singapore), which was wholly-owned subsidiary of the company. The reason for this is that the subsidiary was not doing any business and had no assets. Therefore, in order to conserve the resources of the company and to seek the rating up-gradation, the same was disposed off.

Further, Jindal SAW Espana SL incorporated in Spain as subsidiary was closed down as the purpose for which it was created was not fulfilled.

Net profit of Jindal Saw rose 69.41% to Rs 113.93 crore on 5.78% decline in net sales to Rs 1723.58 crore in Q4 March 2017 over Q4 March 2016.

Jindal Saw makes saw pipes (submerged arc welded pipes) and spiral pipes for the energy transportation sector; carbon, alloy and seamless pipes and tubes for industrial applications; and ductile iron (DI) pipes and fittings for water and wastewater transportation.

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