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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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Lupin advances after launching generic pain relief tablets in US
Jan 13,2017

The announcement was made during market hours today, 13 January 2017.

Meanwhile, the S&P BSE Sensex was down 25.42 points or 0.11% at 27,217.69.

On the BSE, 42,287 shares were traded on the counter so far as against the average daily volumes of 82,696 shares in the past one quarter. The stock had hit a high of Rs 1,516.40 and a low of Rs 1,492.75 so far during the day. The stock had hit a 52-week high of Rs 1,911.55 on 9 February 2016 and a 52-week low of Rs 1,294.05 on 29 March 2016.

The stock had underperformed the market over the past 30 days till 12 January 2017, falling 0.89% compared with 2.76% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, falling 1.77% as against Sensexs 2.97% decline.

The large-cap company has equity capital of Rs 90.29 crore. Face value per share is Rs 2.

Lupin announced that it has launched its Morphine Sulfate ER Tablets 15 mg, 30 mg, 60 mg, 100 mg and 200 mg in the US after having received an approval from the United States Food and Drug Administration (USFDA) earlier to market a generic version of Purdue Pharmas MS Contin ER Tablets 15 mg, 30 mg, 60 mg, 100 mg and 200 mg.

Lupins Morphine Sulfate ER Tablets 15 mg, 30 mg, 60 mg, 100 mg and 200 mg are the AB rated generic equivalent of Purdue Pharmas MS Contin ER Tablets 15 mg, 30 mg, 60 mg, 100 mg and 200 mg.

Morphine Sulfate ER Tablets are indicated for the management of pain severe enough to require daily, around-the-clock, long-term opioid treatment and for which alternative treatment options are inadequate.

MS Contin ER Tablets had annual US sales of $282.9 million as per the IMS MAT September 2016.

Lupins consolidated net profit rose 57.8% to Rs 662.19 crore on 31.9% rise in net sales to Rs 4211.18 crore in Q2 September 2016 over Q2 September 2015.

Lupin is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally. The company is a significant player in the cardiovascular, diabetology, asthma, pediatric, CNS, GI, anti-infective and NSAID space and holds global leadership position in the anti-TB segment.

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India needs 80 lakhs Wi-Fi hotspots: ASSOCHAM-Deloitte study
Jan 13,2017

India needs over 80 lakhs hotspots as against the availability of about 31,000 hotspots with a view to reach the global level of one Wi-Fi hotspot penetration for every 150 people, according to ASSOCHAM-Deloitte joint study.

There are currently over 31,000 public Wi-Fi hotspots installed in India. However, for India to match the current global average of one public Wi-Fi hotspot per 150 people, an additional 80 lakhs hotspots need to be deployed, noted the study titled Digital India: Unlocking the Trillion Dollar opportunity, jointly conducted by ASSOCHAM and research firm Deloitte.

The biggest challenge faced by the Digital India programme is the slow/delayed infrastructure development. Spectrum availability in Indian metros is about a tenth of the same in cities in developed countries. This has put a major roadblock in providing high speed data services.

For Digital India to have a large scale impact on citizens across the nation, the digital divide needs to be addressed through last mile connectivity in remote rural areas. Currently, over 55,000 villages remain deprived of mobile connectivity. This is largely due to the fact that providing mobile connectivity in such locations is not commercially viable for service providers, adds the joint study.

n++For digital technology to be accessible to every citizen significant efforts are needed to customize apps and services to cater to local needs. Finding vendors who can provide such applications has become a challengen++.

Policy framework for Digital India: Challenges in policy, such as taxation, right of way, restrictive regulations etc. are major roadblocks in realizing the vision of Digital India.

Some of the common policy hurdles includes lack of clarity in FDI policies, for instance, have impacted the growth of e-commerce. Transport services like Uber have had frequent run-ins with the local government due to legacy policy frameworks which have not become attuned to the changing business landscape.

Implementation of the Digital India program has been hampered by contracting challenges such as several projects assigned to PSUs are delayed given challenges related to skills, experience and technical capabilities. Several RFPs issued by the government are not picked up by competent private sector organizations since they are not commercially feasible.

The reports suggest that, as recently as 2014, nearly 70% of Indian consumers indicated that lack of awareness was the main reason for not using internet services. Non-availability of digital services in local languages is also a major concern, noted the study.

With the proliferation of cloud-based services like DigiLocker, data security has emerged as a major challenge. The recent data breach in August 2016, in which debit card data for more than 3.2 million subscribers was stolen highlights the importance of implementing foolproof security systems, adds the study.

Development of digital infrastructure is a critical component of Digital India. To further enable development of digital infrastructure, the following measures should be considered as uniform policies for deploying telecom and optic fibre infrastructure.

A uniform RoW policy across all states with a reasonable cost structure is required along with a single window mechanism for granting RoW permissions. PPP models need to be explored for sustainable development of digital infrastructure, as has been the case for civic infrastructure projects like roads and metro project. In addition, the government should make efforts to make additional spectrum available to telecom service providers for deployment of high speed data networks.

Encourage collaboration with the private sector; Effective collaboration with the private sector is critical to the development of the digital infrastructure. Innovative engagement models that ensure commercial viability needs to developed jointly through consultation with industry bodies. This will encourage private sector participation and ensure a better response to infrastructure RFPs. In addition, startups need to be incentivized for the development of the last mile infrastructure and localized services and applications.

Existing government infrastructure assets (e.g., post offices, government buildings, CSCs) should be further leveraged for provision of digital services. In rural and remote areas, private sector players should be incentivized to provide last mile connectivity. USOF can be effectively used to incentivise and create a viable business model. The deployment of funds so far has been erratic and not been used to effectively to fund the cost of infrastructure creation in rural areas. Currently, the fund has over INR 451 billion in reserves which can be used to finance rural digital infrastructure growth in India through direct investment or subsidies.

Satellite communication solutions could be used to speed up broadband access in rural and remote areas. For instance, banks can use VSAT technology to connect remote ATMs, remote branches that need instant access to customer data. It could be used as a last mile connectivity solution in rural areas which lack telecom networks. Another example could be of the navigational system NAVIC (Navigation with Indian Constellation), which can have applications in terrestrial, aerial and marine navigation, disaster management, vehicle tracking and fleet management, integration with mobile phones, precise timing, mapping and geodetic data capture, terrestrial navigation aid for hikers and travellers and visual/ voice navigation for drivers.

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Mahindra Lifespace Developers gains on plan to set up new industrial park
Jan 13,2017

The announcement was made after market hours yesterday, 12 January 2017.

Meanwhile, the S&P BSE Sensex was down 56.62 points or 0.21% at 27,190.54.

On the BSE, 2,455 shares were traded on the counter so far as against the average daily volumes of 10,404 shares in the past one quarter. The stock had hit a high of Rs 371.45 and a low of Rs 360.20 so far during the day.

The stock had hit a 52-week high of Rs 497 on 28 January 2016 and a 52-week low of Rs 343.30 on 21 November 2016.

The small-cap company has equity capital of Rs 41.04 crore. Face value per share is Rs 10.

Mahindra Lifespace Developers (MLDL) signed a memorandum of understanding (MoU) with the Government of Gujarat, through a 100% subsidiary, to establish a 350-acre (approximately), multi-product industrial park near Ahmedabad. The proposed new industrial park marks Mahindra Lifespaces foray into Gujarat and is being planned to cater to non-polluting industries. The industrial park is expected to create direct and indirect employment for about 12,000 persons, when fully operational. The proposed multi-product industrial park will be developed under the aegis of Gujarat industrial Policy 2015.

Mahindra Lifespace Developers net profit rose 426.51% to Rs 32.17 crore on 9.67% decline in net sales to Rs 125.48 crore in Q2 September 2016 over Q2 September 2015.

Mahindra Lifespace Developers is the real estate development business of the Mahindra Group.

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REC edges higher after incorporating three project specific SPVs
Jan 13,2017

The announcement was made after market hours yesterday, 12 January 2017.

Meanwhile, the BSE Sensex was down 32.72 points, or 0.12%, to 27,214.44.

On the BSE, 2.2 lakh shares were traded in the counter so far, compared with average daily volume of 4.33 lakh shares in the past one quarter. The stock had hit a high of Rs 139.10 and a low of Rs 136.45 so far during the day. The stock had hit a 52-week high of Rs 140.95 on 24 October 2016. The stock had hit a 52-week low of Rs 76.25 on 24 February 2016.

The stock had outperformed the market over the past 30 days till 12 January 2017, rising 3.59% compared with 2.76% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 4.14% as against Sensexs 2.97% decline.

The large-cap company has equity capital of Rs 1974.92 crore. Face value per share is Rs 10.

Rural Electrification Corporation (REC) announced the incorporation of three project specific special purpose vehicles (SPVs) as wholly owned subsidiary companies of REC Transmission Projects Company, which are also wholly owned subsidiary companies of REC.

The names of the SPVs incorporated are WR-NR Power Transmission, ERSS XXI and Transmission Ghatampur Transmission.

Rural Electrification Corporations net profit rose 8.2% to Rs 1751.27 crore on 3.1% rise in total income to Rs 6108.55 crore in Q2 September 2016 over Q2 September 2015.

Rural Electrification Corporation (REC), a Navratna Central Public Sector Enterprise under Ministry of Power, provides financial assistance to state electricity boards, state government departments and rural electric co-operatives for rural electrification projects.

The government of India holds 60.64% stake in the company, as per the shareholding pattern as at 30 September 2016.

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Board of Enterprise International to consider 9M results
Jan 13,2017

Enterprise International announced that the meeting of the Board of Directors of the Company will be held on 30 January 2017, to approve and take on record, un-audited Financial Results (Provisional) for the Nine months ended on 31 December 2016.

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Lupin allots 50081 equity shares
Jan 13,2017

Lupin announced that the Allotment Committee of Directors at its meeting held on 13 January 2017 has allotted 50081 fully paid up equity shares of Rs. 2/- each. These shares have been allotted upon exercising of options granted to the employees under Stock option plans of the Company.

In view of the above, the issued and paid up capital of the Company has been increased to Rs. 90,29,71,582 consisting 45,14,85,791 equity shares of Rs. 2/- each.

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Hero MotoCorp enters Argentina with the global launch of New Glamour
Jan 13,2017

Hero MotoCorp unveiled the 125 cc motorcycle, New Glamour - its first ever Global Launch of a new product outside of India. This global launch of the New Glamour coincides with the commencement of Heros operations in Argentina, its 35th market in a rapidly growing global footprint. Hero MotoCorp has appointed Marwen SA as its distributor in Argentina. For the local market in Argentina, the Company has rolled out four products from its wide portfolio in the first phase - Hunk, Hunk Sports, Ignitor and the scooter - Dash.

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Board of Naina Semiconductor to consider December quarter results
Jan 13,2017

Naina Semiconductor announced that the meeting of Board of Director of the company will be held on 31 January 2017, to adopt the quarterly unaudited financial results ended 31 December 2016.

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Shares of Capital Trust get listed on NSE
Jan 13,2017

Capital Trust announced that 16361415 equity share of the Company Capital Trust have been listed as National Stock Exchange and the trading will start from 16 January 2017.

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Karur Vysya Bank to announce December quarter results
Jan 13,2017

Karur Vysya Bank announced that the Board of Directors of the Bank will meet on 25 January 2017, inter alia, to consider the Un-audited Financial Results of the Bank for the quarter ended 31 December 2016.

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Force Motors drops after issuing commercial papers
Jan 13,2017

The announcement was made after market hours yesterday, 12 January 2017.

Meanwhile, the S&P BSE Sensex was down 47.74 points or 0.18% at 27,199.42

On the BSE, 26,000 shares were traded on the counter so far as against the average daily volumes of 1.48 lakh shares in the past one quarter. The stock had hit a high of Rs 4,444 and a low of Rs 4,360 so far during the day.

The stock had hit a record high of Rs 4,839 on 27 October 2016. The stock had hit a 52-week low of Rs 2,180 on 29 February 2016. The stock had outperformed the market over the past 30 days till 12 January 2017, rising 13.26% compared with Sensexs 2.42% rise. The scrip had also outperformed the market in past one quarter, rising 1.52% as against Sensexs 1.54% fall.

The mid-cap company has equity capital of Rs 13.18 crore. Face value per share is Rs 10.

Force Motors net profit rose 17.72% to Rs 50.28 crore on 12.2% growth in net sales to Rs 841.89 crore in Q2 September 2016 over Q2 September 2015.

Force Motors is a fully, vertically integrated automobile company, with expertise in design, development and manufacture of the full spectrum of automotive components, aggregates and vehicles.

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Deep Industries gets revision in credit ratings for bank facilities
Jan 13,2017

Deep Industries has received revision in credit ratings from CARE Ratings as under -

Long term bank facility - CARE A (Revised from CARE A-)
Short term bank facilities - CARE A1 (Revised from CARE A2+)
Long term/ short term facilities - CARE A/ CARE A1 (Revised from CARE A-/ CARE A2+)

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Create 11 lakhs new jobs in five years to reinvigorate Punjab economy: ASSOCHAM
Jan 13,2017

Punjab holds significant potential to create over 11 lakhs additional jobs from the current workforce of about 18.5 lakhs between the age of 15-30 years to attract more investments and attain double digit growth during the course of next five years, apex industry body ASSOCHAM said today.

The Associated Chambers of Commerce and Industry of India (ASSOCHAM) Special Task Force on Punjab has formulated a n++Sustainable Action Plann++ to achieve double digit growth on a sustainable basis to help the state to become one of the front ranking states in the country.

According to the paper, about 18.5 lakhs people are already a part of the workforce between the age group of 15-30 years. The current level of workforce participation rate stands at 35.7 percent and to achieve a similar rate an additional 11 lakhs jobs will need to be created in the next five years. The effective implementation of the investment projects holds key to growth of industry sector that will in turn help in creating lakhs of fresh job opportunities for 35.7 per cent of youth population that forms the workforce in the state.n++

As on 2015-16, the state has attracted Rs. 1.98 lakh crore outstanding investments and recorded a sharp deceleration over the years. The states outstanding investment growth rate has declined from the peak level of 91.0 percent in 2007-08 to -10.5 percent in 2015-16. ASSOCHAM suggest that the newly formed government must look at this on priority basis which will help accelerate investment activities in the state as well as encourage private sector to invest in the state.

n++The state has potential for agriculture and allied sector but the sector growth rate has recorded significant deceleration. The service sector has been the largest contributor of the state economy but last four years have witnessed significant moderation in its growth rate as well. Therefore, it is necessary that state concentrates on the corrective measure to revive the sectors. The government must also ensure that growth is job-augmenting, rural-oriented and participatory in nature,n++ noted the paper titled Action agenda for new government of Punjab, that was released by ASSOCHAM in Chandigarh today.

The states overall economic growth rate reached its lowest level from 10.2 percent in 2006-07 to 4.9 percent in 2014-15. In 2015-16, it witnessed a marginal improvement in its overall economic growth to 5.96 percent as compared to previous year growth rate. The states contribution to Indias economy has declined from 3.3 percent in 2004-05 to 2.9 percent in 2015-16.

The services sector growth rate has increased from 6.6 percent in 2005-06 to reach its peak level of 11.8 percent in 2011-12 thereafter it has recorded a downfall. In 2015-16, service sector gross value added growth rate is 6.3 percent, adds the paper.

Punjab is the eleventh largest state in India in terms of number of unregistered MSMEs (Micro Small and Medium Enterprise) and tenth largest state in terms of registered MSMEs. The states unregistered MSMEs account for 4.9 percent of Indias unregistered MSMEs and registered MSMEs account for 3.08 percent of Indias MSMEs. The MSMEs industry generates significant employment opportunities in Punjab. Unregistered MSMEs industry generates 14.16 lakh employments and registered MSMEs industry generates 4.16 lakh employments, highlights the paper.

On the industrial front, Punjab has recorded a compound annual growth rate (CAGR) of about 7.5% during 2004-05 to 2014-15. The states industrial sector contributes 27.0 percent of states economy in 2014-15 which was 24.7 percent in 2004-05. According to the census 2011, workforce dependent on industry is 3.9 percent of the total workforce in the state which was 3.7 percent in 2001, adds the paper.

Agriculture sector has remained the engine of economic growth in Punjab but sustainability of growth of the agriculture sector is under question. On the one side, the agriculture sector is turning less remunerative compared to the early green revolution period and on the other, natural resource constraint such as degradation of soil health and dramatically falling underground water table is increasingly becoming more severe. The sector has registered a compound annual growth rate of 1.6 percent during 2004-05 to 2014-15 that is worse than all India. The performance indicates that states agriculture sector is not operating at its potential level.

The states agriculture & allied sector growth rate is quite uneven over the years and has recorded sharp fluctuation. The sectors performance is indicating that the state has recorded a negative growth of 0.3 percent in 2009-10 and 0.5 percent in 2014-15. In 2015-16, agriculture & allied sector performance (GVA at 2011-12 base) is recorded at 5.2 percent.

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Mastek gains after subsidiary completes acquisition of two companies
Jan 13,2017

The announcement was made before market hours today, 13 January 2017.

Meanwhile, the BSE Sensex was down 28.62 points, or 0.11%, to 27,218.54.

On the BSE, 15,000 shares were traded in the counter so far, compared with average daily volume of 57,000 shares in the past two weeks. The stock had hit a high of Rs 169.90 and a low of Rs 167 so far during the day. The stock had hit a 52-week high of Rs 185.35 on 19 December 2016. The stock had hit a 52-week low of Rs 104.70 on 17 February 2016.

Mastek said that the closing formalities in relation to the share purchase agreement for acquisition of 100% equity shares of Trans American Information Systems have been completed and consequently, Trans American Information Systems has become a wholly owned subsidiary of the company.

Further the company informed that Digility Inc., U.S., an overseas first level step down subsidiary of the company, has completed the acquisition of TaisTech LLC, USA and Trans American Information Systems Inc. USA. Pursuant to the acquisition, TaisTech LLC, USA and Trans American Information Systems Inc. USA have become wholly owned subsidiaries of Digility Inc., U.S. and consequently, they have also become step down wholly owned overseas subsidiaries of the company.

Digility Inc., the wholly owned subsidiary of Mastek UK, and a step down US based subsidiary of Mastek had announced on 5 January 2017, acquisition of US-based leading digital commerce solution provider, TAISTech.

Masteks board of directors on 12 December 2016, had accorded approval for acquiring 100% of the equity shares of Trans American Information Systems Private Limited, an IT consultancy and software services firm, subject to compliance with all applicable laws and requisite approvals, if any. The cost of acquisition was Rs 12.50 crore.

Masteks consolidated net profit rose 113.7% to Rs 7.65 crore on 3.62% decline in net sales to Rs 124.90 crore in Q2 September 2016 over Q1 June 2016.

Mastek is a publicly held leading IT player with global operations providing enterprise solutions to government, retail and financial services organizations worldwide.

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NTPC provides update on MoU signed for takeover of Chhabra Thermal Power Plant
Jan 13,2017

NTPC announced that with reference to the signing of a non-binding MoU with Rajasthan Rajya Vidyut Utpadan Nigam and Rajasthan Urja Vikas Nigam for take-over of Chhabra Thermal Power Plant Stage-I (4x 250 MW) and Stage-II (2x660 MW) of Rajasthan Urja Vikas Nigam by NTPC, the last line Rajasthan Urja Vikas Nigam may be read as Rajasthan Rajya Vidyut Utpadan Nigam.

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