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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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FFO of CPSE ETF gets overwhelming response as issue gets oversubscribed by wide margin
Jan 21,2017

The Central Public Sector Enterprises (CPSE) Exchange Trade Fund (ETF) gets overwhelming response as issue gets over-subscribed by wide margin. CPSE ETF FFO gets bids of approx Rs. 12,000 crore (US$ 1.7 billion) -- Over two and half times the Base Issue size of Rs 4,500 crore (US$471 million). FFO was launched from January 17, 2017 till January 20, 2017. Investors across all categories offered 5% upfront discount.

CPSE ETF FFO received applications from over 2 lakh investors across 300 cities across India. This was the largest Disinvestment Program undertaken by the Government of India using ETF and largest fund offering by any Mutual Fund in India till date. Anchor investors submitted bids of Rs 6,000 crore (US$ 895.5 Million).

Morgan Stanley, Nomura, Kotak MF, EPFO, SBI Bank, LIC amongst prominent Domestic and Foreign Institutions that participated as Anchor Investors. Non-Anchor portion received bids of Rs 6,000 crore -- two times of Rs 3,000 crore ( Base) reserved in the issue. Non-anchor portion was largely subscribed by retail investors and PFS - both domestic and foreign.

Retail Investors will get First Preference and assured allotment as part of the CPSE ETF FFO norms. CPSE ETF FFO planned to raise up to Rs 4,500 crore (US$ 671 Million). As Base Issue size, with an option to retain over-subscription of Rs. 1500 crore.

Further Fund offer is part of larger Disinvestment Program announced by the Department of Investment and Public Asset Management (DIPAM), Ministry of Finance.

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Tata Communications (Netherlands) becomes largest stakeholder in Taleena
Jan 21,2017

Tata Communications announced that Tata Communications (Netherlands) B.V., a wholly owned indirect subsidiary of Tata Communications, has made an investment in Teleena Holding B.V. (Teleena) (a mobile virtual network enabler headquartered in the Netherlands) on 20 January 2017 as part of Tata Communications long term development strategy of its global mobility and loT services.

As a result of this investment, Tata Communications (Netherlands) B.V. becomes the single largest shareholder of Teleena with a 35% stake.

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Zee Learn allots 1,21,269 equity shares
Jan 21,2017

Zee Learn announced that the ESOP Allotment Sub-Committee of the Company at its meeting held on 20 January 2017, has approved allotment of total 1,21,269 equity shares consisting of 2,100 Equity Shares of Re. 1/- at an exercise price of Rs. 26.05 per Equity Share, 8,831 Equity Shares of Re. 1/- at an exercise price of Rs. 20.85 per Equity Share ; 10,338 Equity Shares of Re. 1/- at an exercise price of Rs. 35.25 per Equity Share and 1,00,000 Equity Shares of Re. 1/- at an exercise price of Rs. 31.80 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 320,850,146 equity shares of Re. 1/- each aggregating Rs. 320,850,146 to 320,971,415 equity shares of Re. 1/- each aggregating Rs. 320,971,415/-.

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Ministry of Railways Signs Joint Venture Agreement with the Govt. of Jharkhand
Jan 21,2017

A Joint Venture Agreement was signed on 20th January 2017 between Ministry of Railways and Government of Jharkhand for developing railway infrastructure in the State.

n++n++ This Joint Venture agreement for development of Railway Infrastructure will

n++n++ Provide active representation to States in the Planning and Implementation of Railway Infrastructure Projects

n++n++ Speed up the Development of Railway Projects on staten++fs priority

n++n++ Generate more financial resources through participation of State & other stakeholders in the project specific subsidiaries

n++n++ Government of Jharkhand has initially identified 3 projects viz., Namkum - Kandra, Giridih - Parasnath-Madhuban, Tori - Chatra Rail Line covering a length of 222 km at a cost of Rs. 2150 Crore for taking up through the proposed JV Company after establishing their viability, bankability and financial closure.

n++n++ Governments of Kerala, Andhra Pradesh, Karnataka, Maharashtra, Odisha, Haryana, Chhattisgarh and Gujarat have already signed JV agreement with Ministry of Railways.

n++n++ Government of Jharkhand with 51% equity is the 9th State which had agreed to form a Joint Venture Company with the Ministry of Railways.

n++n++ The present railway network density in Jharkhand is 17.64 Km per 100 square Km which is the best in India and way above the national average of 2.01 Km per 100 square Km.

n++n++ Signing of these JVs will go a long way in developing infrastructure in the State of Jharkhand.

n++n++ The average outlay to Jharkhand in Railway Budget was Rs.1544.3 crore during 2014-15 to 2016-17 which is an increase of 238% over the average outlay of 457.2 crore during 2009-10 to 2013-14.

BACKGROUND:

n++n++ Indian Railways has been playing a major role in national integration by connecting the remotest places and bringing people closer to each other. Railways receive a large number of demands for network expansion as a Railway line acts as an engine of growth for the area it serves.

n++n++ Railways have a large shelf of ongoing New Line, Gauge Conversion and Doubling projects needing about Rs 3.86 lakh crores to complete. We have been trying to meet the aspirations of public within limited availability of funds.

n++n++ To expedite the projects, Railways have been trying to mobilize resources through other than Gross Budgetary Support. Towards this mission, 10 State Governments have till now agreed to share the cost of 41 ongoing projects ranging from 25% to 67% of the project cost. Some States are providing land free of cost in addition to sharing of construction cost.

n++n++ In view of the growing demands for Railway Lines in various States and huge requirement of funds to execute them, Honn++fble Minister for Railways has taken an initiative for setting up of Joint Ventures with States for focused project development, resource mobilization, land acquisition, project implementation and monitoring of critical rail projects.

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Ministry of AYUSH and Advertising Standards Council of India sign MoU to co-regulate misleading advertisements in the AYUSH sector
Jan 21,2017

In order to curtail malpractices in the advertisement of AYUSH drugs, the Ministry of AYUSH has signed a MoU with the Advertising Standards Council of India (ASCI). Addressing the cases of misleading advertisements with respect to Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homoeopathy drugs, treatments and related services, ASCI will comprehensively monitor these advertisements across print and electronic media. The MoU was signed by Advisor (Ayurveda), Ministry of AYUSH Dr, Dinesh Chan Katoch and Chairman, ASCI Shri Srinivasan K Swamy in the presence of Secretary AYUSH Shri Ajit M Sharan at New Delhi.

ASCI has been given a self-monitoring mandate by the Ministry of AYUSH to identify potentially misleading advertisement in the AYUSH sector and process complaints through its Consumer Complaints Council (CCC). The Ministry of AYUSH will also redirect complaints against misleading advertisements they receive, to the ASCI, which will be reviewed using ASCIs code and guidelines. The MoU also requires ASCI to report to the Ministry of AYUSH, all advertisements in potential violation of the Drugs and Magic Remedies (Objectionable Advertisements) Act, 1954 and Rules thereunder as well as non-compliance of ASCIs CCC recommendations for the Ministry of AYUSH to take further action.

Commenting on the partnership, Secretary, Ministry of AYUSH Sh. Ajit M. Sharan, said that the MOU is yet another important step taken by the AYUSH ministry to ensure that Indian consumers have access to safe and effective medicines. The arrangement would also ensure that any advertisement making claims for diseases and disorders, in violation of the existing regulations, are immediately brought to our attention.

Chairman, ASCI, Sh. S.K. Swamy, added that AYUSH is among top three sectors where we find a high incidence of misleading advertisements and some of the advertisements in the AYUSH sector claiming treatment of certain diseases in violation of the Drugs and Magic Remedies Regulations have been a cause of concern. ASCIs partnership with the Ministry of AYUSH will provide the necessary support to our efforts in effectively curtailing misleading advertisements in this sector.

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Board of Texmaco Infrastructure & Holdings to consider Q3 and 9M results
Jan 20,2017

Texmaco Infrastructure & Holdings announced that a meeting of the Board of Directors of the Company will be held on 30 January 2017, to consider Un-audited Financial Results of the Company for the Quarter and Nine Months ended 31 December 2016.

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Bacil Pharma to announce Q3 and 9M results
Jan 20,2017

Bacil Pharma announced that the Meeting of Board of Directors of the Company will be held on 30 January 2017, inter alia, to consider and approve the Unaudited Financial Results of the Company for the Quarter and Nine Month ended 31 December 2016.

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Trident announces cessation of Director and Chairman
Jan 20,2017

Trident announced Surender Kumar Tuteja, has ceased to be the Independent Director and Chairman of the Board of the Company w.e.f. 20 January 2017 consequent to his resignation.

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MBL Infrastructures provides update on proposed Udaipur Bypass project
Jan 20,2017

MBL Infrastructures announced that the project Six lane of Greenfield proposed Udaipur Bypass (Connection between NH-76 at exiting Km 118-500 at Debari to NH-8 Km 287- 400 at kaya village) Udaipur Bypass - length 23.883 on Hybrid Annuity Mode, Package -IV under NHDP phase V in the state of Rajasthan awarded to the Company has been surrendered on account of non-submission of full performance guarantees by the bankers and accordingly terminated by NHAI.

The Company is executing two other Hybrid Annuity Projects for which performance guarantees have already been submitted.

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Deep Industries secures contract from Cairn India
Jan 20,2017

Deep Industries has received Letter of Award from Cairn India for Contract for provision of services of Gas Engine Driven Reciprocating Compressors Packages on rental basis for RDG Gas Development Project for a period of 1 (One) year from the Commencement Date. The total estimated value of the said Award is Rs 36.72 crore Approx.

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UFO Moviez India provides update on scheme of arrangement
Jan 20,2017

UFO Moviez India announced that the Company on 20 January 2017 has filed a petition to sanction the scheme of arrangement between UFO Moviez India (Transferee Company) and Southern Digital Screenz India, V N Films, Edridge and UFO International (collectively Transferor Companies) with the National Company Law Tribunal, Mumbai Bench.

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GAIL (India) to consider interim dividend for FY 2017
Jan 20,2017

GAIL (India) announced that a meeting of the Board of Directors of the Company is scheduled to be held on 25 January 2017 to consider, inter-alia, payment of interim dividend for FY 2016-17.

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GAIL (India) fixes record date for interim dividend
Jan 20,2017

GAIL (India) has fixed 03 February 2017 as the Record Date for the purpose of Payment of Interim Dividend.

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Stellant Securities (India) fixes record date for reduction of capital
Jan 20,2017

Stellant Securities (India) has fixed 03 February 2017 as the Record Date for the purpose of Reduction of Capital.

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Kalpataru Power Transmission wins new orders
Jan 20,2017

Kalpataru Power Transmission has secured orders exceeding Rs 825 crore.

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