My Application Form Status

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

Powered by Capital Market - Live News

Nitesh Estates appoints CEO for its commercial and rental business vertical
Mar 23,2017

Nitesh Estates announced the appointment of Mahesh Laxman as Chief Executive Officer of the Companys new Commercial and Rental Business vertical of the Company.

Powered by Capital Market - Live News

Cairn India gets NCLT approval for scheme of arrangement
Mar 23,2017

The National Company Law Tribunal, Mumbai Bench (n++Tribunaln++), has on 23 March 2017 approved the Scheme of Arrangement between Cairn India and Vedanta, and their respective shareholders and creditors (n++Schemen++). The certified copy of the order is awaited from the Tribunal.

Powered by Capital Market - Live News

Patidar Buildcon announces change in website
Mar 23,2017

Patidar Buildcon announced that the website of the Company has been shifted to new web-address www.patidarbuildconltd.in, which was earlier as www.patidarbuildconltd.com

Powered by Capital Market - Live News

Bhushan Steel jumps on takeover buzz
Mar 23,2017

Meanwhile, the S&P BSE Sensex was up 103.14 points, or 0.35% to 29,270.82.

On the BSE, 3.75 lakh shares were traded in the counter so far, compared with average daily volumes of 1.78 lakh shares in the past one quarter. The stock had hit a high of Rs 58.05 and a low of Rs 53.05 so far during the day.

The stock hit a 52-week high of Rs 63.70 on 25 January 2017. The stock hit a 52-week low of Rs 34.30 on 29 March 2016.

The stock had underperformed the market over the past one month till 22 March 2017, falling 10.36% compared with 1.41% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 28.31% as against Sensexs 12.27% rise.

The small-cap company has equity capital of Rs 45.30 crore. Face value per share is Rs 2.

According to media reports, lenders of Bhushan Steel are likely to start a competitive bidding process to sell the steel firm as they seek to recover some of the more than Rs 40000 owed by the steel producer. Vedanta is reportedly in talks with lenders to buy Bhushan Steel as it was keen to enter the steel sector. Vedanta may compete with JSW Steel for the bid.

The liberal dividend from Hindustan Zinc may give Vedanta the strength needed to acquire Bhushan Steel, reports added.

The board of Hindustan Zinc, a subsidiary of Vedanta, approved a special interim dividend of Rs 27.50 per share for the year ending 31 March 2017.

As on 31 December 2017, Vedanta held 274.31 crore shares, or 64.92% stake in Hindustan Zinc.

Bhushan Steel reported net loss of Rs 734.04 crore in Q3 December 2016 as against net loss of Rs 693.60 crore in Q3 December 2015. Net sales rose 47.12% to Rs 3611.13 crore in Q3 December 2016 over Q3 December 2015.

Bhushan Steel is one of the prominent players in the Indian steel industry. It has an existing steel production capacity of 5.6 million ton per annum.

Powered by Capital Market - Live News

Engineers India slips ex-dividend
Mar 23,2017

Meanwhile, the S&P BSE Sensex was up 98.36 points or 0.34% at 29,266.04. The BSE Mid-Cap index was up 117.82 points or 0.86% at 13,839.27.

On the BSE, 1.84 lakh shares were traded on the counter so far as against the average daily volumes of 2.38 lakh shares in the past two weeks. The stock had hit a high of Rs 148 and a low of Rs 145.90 so far during the day.

Before turning ex-dividend, the stock offered a dividend yield of 1.68% based on the closing price of Rs 148.75 yesterday, 22 March 2017.

Net profit of Engineers India rose 25.59% to Rs 84.99 crore on 11.77% decline in net sales to Rs 325.01 crore in Q3 December 2016 over Q3 December 2015.

State-run Engineers India provides engineering consultancy and engineering, procurement and construction (EPC) services. The Government of India holds 58.87% in Engineers India (as per shareholding pattern as on 31 December 2016).

Powered by Capital Market - Live News

Rural Electrification Corporation signs MoU with Damodar Valley Corporation
Mar 23,2017

Rural Electrification Corporation has entered into Memorandum of Understanding (MoU) with Damodar Valley Corporation (DVC) for extending financial assistance to the tune of Rs. 4,650 crore for ongoing and upcoming projects of DVC.

Powered by Capital Market - Live News

Volumes jump at APL Apollo Tubes counter
Mar 23,2017

APL Apollo Tubes clocked volume of 7.68 lakh shares by 13:47 IST on BSE, a 267.73-times surge over two-week average daily volume of 3,000 shares. The stock rose 1.01% to Rs 1,107.

Modison Metals notched up volume of 73.92 lakh shares, a 125-fold surge over two-week average daily volume of 59,000 shares. The stock fell 2.01% to Rs 63.50.

Astra Microwave Products saw volume of 34.22 lakh shares, a 119.24-fold surge over two-week average daily volume of 29,000 shares. The stock rose 3.63% to Rs 112.90.

Lloyds Metals and Energy clocked volume of 1.50 crore shares, a 50.37-fold surge over two-week average daily volume of 2.99 lakh shares. The stock rose 3.69% to Rs 15.45.

TeamLease Services saw volume of 80,000 shares, a 45.56-fold rise over two-week average daily volume of 2,000 shares. The stock rose 0.41% to Rs 967.95.

Powered by Capital Market - Live News

RDEL leads gainers in A group
Mar 23,2017

Reliance Defence and Engineering (RDEL) jumped 8.86% to Rs 63.90 at 13:49 IST. The stock topped the gainers in the BSEs A group. On the BSE, 19.31 lakh shares were traded on the counter so far as against the average daily volumes of 6.12 lakh shares in the past two weeks.

Sobha surged 7.25% at Rs 365.20. The stock was second biggest gainer in A group. On the BSE, 3.20 lakh shares were traded on the counter so far as against the average daily volumes of 31,000 shares in the past two weeks.

VA Tech Wabag advanced 4.91% to Rs 618.25. The stock was third biggest gainer in A group. On the BSE, 32,000 shares were traded on the counter so far as against the average daily volumes of 28,000 shares in the past two weeks.

Manappuram Finance gained 4.73% at Rs 93.05. The stock was fourth biggest gainer in A group. On the BSE, 5.32 lakh shares were traded on the counter so far as against the average daily volumes of 6.75 lakh shares in the past two weeks.

Gujarat Mineral Development Corporation (GMDC) rose 4.32% to Rs 121.90. The stock was fifth biggest gainer in A group. On the BSE, 2.01 lakh shares were traded on the counter so far as against the average daily volumes of 54,000 shares in the past two weeks.

Powered by Capital Market - Live News

On account of increased production of coal imports have fallen from 217.78 Mte in 2014-15 to 199.88 Mte in 2015-16
Mar 23,2017

On account of increased production of coal, imports have fallen from 217.78 Mte in 2014-15 to 199.88 Mte in 2015-16. The trend of fall in import of coal has continued in 2016-17 wherein for the period April 2016-January 2017, coal imports have reduced by 2.59% as compared to the corresponding period of the previous year.

However, import of coal is not solely dependent on the domestic production of coal. It also depends on other factors like power plant designed on imported coal and insufficient availability of coking coal of required grade. A policy for allocation of coal to power sector is under formulation.

The Minister further stated that as per International Energy Agency (IEA), India was the third largest producer and second largest importer of coal in 2014 in the World.

Powered by Capital Market - Live News

Moodys: Development of Asian covered bond market would benefit from additional regulatory support
Mar 23,2017

Moodys Investors Service says that additional regulatory support can help further the development of the regions covered bond markets.

Furthermore, such supports -- as identified by market participants -- would include increasing the percentage of assets that the banks can use to issue covered bonds and allowing them to become eligible for repurchase transactions with central banks.

In the case of Singapore, for example, increase in issuance percentage may provide more incentive for foreign banks incorporated in Singapore -- which have smaller mortgage portfolios, when compared to the countrys three largest banks -- to issue covered bonds, because greater issuance amount would increase the cost effectiveness of covered bond programs.

Being eligible for repurchase transactions with central banks would be credit positive for Asian covered bonds because of the potential reduction in refinancing risk, which refers to the market-value risk in selling the cover pool to repay investors when the issuer is in default, says Joe Wong, a Moodys Vice President -- Senior Analyst.

It will be more attractive for banks to purchase cover pools if they can be funded by central banks via repo transactions, and the discount in selling the cover pools would be reduced accordingly, adds Wong.

Covered bonds are a viable funding option for financial institutions in some Asian common law countries, adds Jerome Cheng, a Moodys Senior Vice President.

Although currently Asian covered bond funding costs may only be marginally cheaper than unsecured debt in some countries, the cost savings offered by such bonds can be more significant in the case of a financial crisis, says Cheng.

At the same time, market participants at the March meeting also noted hurdles to large-scale issuance of covered bonds in Asian countries where they are not currently issued.

These include the lack of covered bond legal frameworks, uncertainty over the cost savings provided by cross-border covered bonds, and the prohibitive cost of currency hedging that is required for cross-border covered bonds.

Market participants also discussed the prospect of Asian cover pools including assets other than residential mortgage loans, including green bonds, green mortgages, credit card receivables and auto loans.

In Moodys view, different asset types may introduce additional risks for covered bonds, such as credit and refinancing risks, though these risks can be mitigated by additional over-collateralization. Residential mortgage loans have higher credit quality than many other asset types because they are secured by high quality assets.

Moodys also notes that it has rated transactions backed by corporate bonds and credit card receivables and that while these deals posed additional risks, they also included additional over-collateralization compared to standard covered bonds.

Powered by Capital Market - Live News

Cabinet approves hike in MSP for Copra for 2017 season
Mar 23,2017

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has given its approval for the Minimum Support Price (MSP) for Fair Average Quality (FAQ) of Milling Copra to Rs.6500/- per quintal for 2017 season from Rs. 5950/-per quintal in 2016. The MSP for FAQ of Ball Copra has been increased to Rs.6785/- per quintal for 2017 season from Rs. 6240/- per quintal in 2016.

The MSP of Copra is expected to ensure appropriate minimum prices to the farmers and step up investment in Coconut cultivation and thereby production and productivity in the country.

The approval is based on recommendations of Commission for Agricultural Costs and Prices (CACP). CACP, which is an expert body, takes into account the cost of production, trends in the domestic and international prices of edible oils, overall demand and supply of copra and coconut oil, cost of processing of copra into coconut oil and the likely impact of the recommended MSPs on consumers, while recommending the MSPs.

The National Agricultural Cooperative Marketing Federation of India Limited (NAFED) and National Cooperative Consumer Federation of India Limited (NCCF) would continue to act as Central Nodal Agencies to undertake price support operations at the Minimum Support Prices in the Coconut growing states.

Powered by Capital Market - Live News

BASF India moves higher as parent to divest leather chemical biz
Mar 23,2017

The announcement was made during market hours today, 23 March 2017.

Meanwhile, the S&P BSE Sensex was up 109.54 points or 0.38% at 29,277.22. The BSE Mid-Cap index was up 118.39 points or 0.86% at 13,839.84.

On the BSE, 6,056 shares were traded on the counter so far as against the average daily volumes of 2,894 shares in the past two weeks. The stock had hit a high of Rs 1,275 and a low of Rs 1,200 so far during the day.

BASF India said it has received information from its parent company, BASF SE, Germany that globally BASF SE and Stahl have reached an agreement to divest BASFs leather chemical business to Stahl Group, subject to receipt of requisite approvals. The transaction is expected to close in the fourth quarter of 2017.

The Stahl Group is a leading company in process chemicals for leather products & performance coatings. The Stahl Group in future would be held by Wendel Group, Clariant and BASF.

Under the arrangement, BASF India would supply leather chemical products from its manufacturing facilities to Stahl Group under a mid to long-term supply agreement.

BASF India reported net loss of Rs 47.22 crore in Q3 December 2016, compared with net loss of Rs 119.24 crore in Q3 December 2015. Total income from operations rose 0.03% to Rs 1217.84 crore in Q3 December 2016 over Q3 December 2015.

BASF India is engaged in providing chemicals, plastics, performance products and crop protection products.

Powered by Capital Market - Live News

Deepening and Widening of Mumbai Harbour Channel and JN Port Channel (Phase-II)
Mar 23,2017

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi has approved fresh estimates of the project Deepening and Widening of Mumbai Harbour Channel and JN Port Channel (Phase-II). The cost of the project will be Rs.2029 crore excluding the Service Tax. The entire project cost will be funded through internal resources of JN Port Trust (JNPT) with market borrowing, if necessary.

The project includes the existing channel to be widened from presently 370 m to 450 m for straight reach, channel to be extended from existing 33.5 Kms to 35.5 Kms. The draft of the channel will be increased from existing 14 m draft to 15 m draft. The estimated quantity to be dredged to the tune of 35.03 million cu.mtr. including 1.73 million cu.mtr. rock dredging.

The work is likely to be implemented by inviting global tenders and to be completed within 2 years after its award.

The present total capacity of the JNPT for container handling is 5 million TEUs (Twenty feet Equivalent Unit). After the 4th Terminal becomes operational, this capacity will be enhanced to 9.8 million TEUs. Considering the expansion of the container vessel sizes on the main trade routes, it is anticipated that vessels of more than 8,000-12,000 TEU size will call the JN Port.

After completion, JNPT will attain capacity for handling additional traffic throughput of 1.67 million TEUs. The enhanced capability would help in handling larger vessels upto 12,500 TEUs besides economic benefits like saving in Vessel waiting time and savings on account of transshipment. The ultimate benefit to users will be in terms of lower unit cost, direct and indirect tax benefits in addition to reduction in vessel traffic congestion at JNPT. This would add to the competitiveness of Indias EXIM trade.

Background:

Over the years, the size of container ships is progressively becoming larger as it is much more economical to operate large ships and the cost of operation gets cheaper as much as by 40% for the larger ships. With increase in container cargo volume and increase in capacity of container carrying vessels fleet worldwide, JN Port has decided to handle new generation container vessels with wider beam and deeper drafts. The new generation bigger size vessels need deeper channel depth to navigate and accordingly deepening and widening of the channel further from 14.0 to 15.0 m draft with vessel capacity of 12,500 TEU is envisaged.

At present, JN Port is handling vessels having a draft of 14 m that is 6,000 TEUs capacity by taking advantage of tidal window.

Powered by Capital Market - Live News

Measures to provide 24x7 Affordable and Environment Friendly Power For All by 2019
Mar 23,2017

Ministry of Power has taken several measures to provide 24X7 affordable and environment friendly Power for All by 2019. The measures inter-alia, include the following:-

i. Electrification of 18,452 un-electrified villages (as on 1/4/2015): As on 20/03/2017, 12,661 villages have been electrified.

ii. Preparation of state specific action plans for 24X7 Power for All, covering adequacy of generation, transmission capacity and distribution system: 24X7 Power for All documents have been signed with 35 States/UTs.

iii. Launching of scheme called Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY) for rural areas: The scheme provides for (a) separation of agriculture and non-agriculture feeders; (b) strengthening and augmentation of sub-transmission and distribution infrastructure in rural areas including metering at distribution transformers, feeders and consumers end; and (c) rural electrification.

iv. Launching of Integrated Power Development Scheme (IPDS) for urban areas: The scheme provides for (a) strengthening of sub-transmission and distribution networks in urban areas; (b) metering of distribution transformers/feeders/consumers in urban areas; and (c) IT enablement of distribution sector and strengthening of distribution network.

v. Operationalization of Power System Development Fund (PSDF): PSDF shall be utilized for the project proposed by distribution utilities for (a) creating necessary transmission system of strategic importance; (b) installation of shunt capacitors etc. for improvement of voltage profile in the grid; (c) installation of standard and special protection schemes; and (d) Renovation and Modernisation of transmission and distribution systems for relieving congestion; etc.

vi. Launching of Ujwal Discom Assurance Yojana (UDAY): The scheme has been launched for operational and financial turnaround of Discoms.

vii. Measures initiated for reducing the generation cost of coal based power projects:

(a) Increasing supply of domestic coal;

(b) Coal usage flexibility

(c) Rationalization of coal linkages

viii 56,232.6 MW generation capacity have been added during the period 2014-17 (as on 28.02.2017).

ix. Increase in electricity generation from 967 BU (Billion Unit) in 2013-14 to 1048 BU in 2014-15 and 1107 BU in 2015-16, resulting in lowest ever energy deficit of 2.1% in 2015-16. During the current year 2016-17 (upto February 2017), electricity generation has been 1057.746 BU. Energy deficit has further reduced to 0.7% during the period April-February, 2017 which is the lowest ever.

x. 73,798 ckm transmission lines and 1,89,948 MVA sub-station capacity added during 2014 to February, 2017. 87% increase in transmission capacity to South India from 3450 MW in April- 2014-February, 2017 to 6450 MW.

xi. Implementation of Green Energy Corridor for transmission of renewable energy.

xii. Unnat Jyoti by Affordable LEDs for All (UJALA) to replace 77 crore incandescent bulbs with LED bulbs. This will result in estimated avoided capacity generation of 20,000 MW and save 100 billion kWh per year by March, 2019. As on date, 21.8 crore LED bulbs have been distributed. In addition, over 5.36 lakh energy efficient fans and 13.37 lakh LED tube lights have been distributed.

xiii Street Lighting National Programme (SLNP) is being implemented to replace 1.4 crore conventional street lights by LED street lights. The replacement will result in avoided capacity generation of 1500 MW and save 9 billion kWh per year by March, 2019. As on date, over 18.3 lakh LED Street lights have been replaced across the country.

The Minister further stated that the funding pattern for the new schemes initiated by the Government is as under:

i. DDUGJY & IPDS: Government of India Grant - 60% (85% in case of Special Category States; Utility/State contribution - 10% (5% in case of Special Category States); loan from banks/financial institutions - 30% (10% in case of Special Category States) - Additional grant from GoI on achievement of prescribed milestones - 50% of the loan component.

ii. PSDF: Subject to availability of funds and admissibility, the quantum of grant towards project cost ranges from 75% to 100% for non Special Category States. The projects from North-East and other hill States, namely, J&K, Sikkim, Himachal Pradesh and Uttarakhand are eligible for grant upto 100%.

Powered by Capital Market - Live News

Cabinet approves abolition of cesses and surcharges for GST implementation
Mar 23,2017

Cabinet approves Amendment of in the Customs and Excise Act, relating to abolition of cesses and surcharges on various goods and services to facilitate implementation of GST Regime. Union Cabinet chaired by the Prime Minister Narendra Modi has approved the following proposals:

i. Amendment to the Customs Act, 1962;

ii. Amendments to the Customs Tariff Act, 1975;

iii. Amendment to the Central Excise Act, 1944;

iv. Repeal of the Central Excise Tariff Act, 1985; and

v. Amendment or repeal of the provisions relating to Acts under which cesses are levied.

The above proposals will result in the following benefits:

i. Insertion of Sections 108A and 108B in the Customs Act, 1962 seeks to provide for furnishing of information relating to import/export of goods by specified persons to enable analysis and detection of cases of unter/over-valuation in imports and exports, misuse of export promotion schemes including the Drawback Scheme and violations of the provisions of the Customs Act and various other laws under which Customs officials have been authorized to effectively implement these laws; and

ii. Amendments or repeal of various provisions of other Acts which will no longer be relevant consequent upon roll out of GST will result in cleansing of the irrelevant portions from the Statute Book and reduce multiplicity of taxes.

Powered by Capital Market - Live News