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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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Orient Green Power gains after board OKs exclusive discussions with IL&FS
Jan 20,2017

The announcement was made after market hours yesterday, 19 January 2017.

Meanwhile, the BSE Sensex was down 103.75 points, or 0.38%, to 27,204.85.

On the BSE, so far 6.77 lakh shares were traded in the counter, compared with average daily volumes of 89,686 lakh shares in the past one quarter. The stock had hit a high of Rs 11.95 and a low of Rs 11.38 so far during the day.

The stock hit a 52-week high of Rs 15.10 on 2 February 2016. The stock hit a 52-week low of Rs 7.84 on 9 November 2016.

Orient Green Power Company (OGPL) announced that its board approved entering into exclusive discussions with IL&FS Wind Energy to evaluate a potential merger of the wind energy generation businesses of both entities. The resultant merged entity will have 1.2 gigawatt (GW) of operating wind capacity, and will be by far the largest listed renewable energy company in India.

OGPL is in the process of demerging its wind and biomass entities into two separate companies, viz: OGPL (wind) and Bio-bijlee Green Power (biomass) respectively. Subsequent to the demerger, OGPL will have an operating wind capacity of 425 megawatts (MW) in the financial year ending March 2017 (FY 17) with an additional 43 MW under construction which will augment capacity of the combined entity in FY 18. IL&FS Wind has an operating capacity of 775 MW in FY 17. IL&FS is also developing an additional 228 MW which the merged entity will be in a strong position to acquire.

Both companies have entered into a non-binding agreement with an exclusivity period of 90 days. At this stage, the companies would like to clarify that any potential outcome is subject to due diligence, definitive documentation and approvals by regulators, creditors, shareholders and other stake holders.

On a consolidated basis, Orient Green Power Company reported net profit of Rs 82.88 crore in Q2 September 2016 as against net loss of Rs 21.32 crore in Q2 September 2015. Net sales rose 11.62% to Rs 154.81 crore in Q2 September 2016 over Q2 September 2015.

Orient Green Power Company an independent operator and developer of renewable energy power plants in India. Currently, the companys portfolio includes biomass, biogas, wind energy and small hydroelectric projects at various stages of development.

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Greaves Cotton gains after twin bulk deals
Jan 20,2017

A bulk deal of 2.83 lakh shares was executed on the scrip at Rs 133 per share at 10:15 IST on BSE. Another bulk deal of 3 lakh shares was executed on the scrip at Rs 132.70 per share at 10:18 IST on BSE.

Meanwhile, the S&P BSE Sensex was down 111.37 points, or 0.41%, to 27,200.82

Bulk deal boosted volume on the scrip. On BSE, so far 6.10 lakh shares were traded in the counter, compared with an average volume of 74,051 shares in the past one quarter. The stock hit a high of Rs 133.50 and a low of Rs 130.50 so far during the day. The stock hit a 52-week high of Rs 150.35 on 13 July 2016. The stock hit a 52-week low of Rs 114.20 on 29 February 2016.

The mid-cap company has an equity capital of Rs 48.84 crore. Face value per share is Rs 2.

Greaves Cottons net profit fell 6.65% to Rs 51.25 crore on 3.66% rise in net sales to Rs 438.42 crore in Q2 September 2016 over Q2 September 2015.

Greaves Cotton is one of the leading engineering companies in India with core competencies in diesel/petrol engines, farm equipment and gensets. The company sustains its leadership through seven manufacturing units which produces world class products backed by superior R&D, comprehensive marketing and service/parts network.

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Motherson Sumi gains after buying Finlands PKC Group
Jan 20,2017

The announcement was made during trading hours today, 20 January 2017.

Meanwhile, the BSE Sensex was down 106.76 points, or 0.39%, to 27,201.84.

On the BSE, so far 3.14 lakh shares were traded in the counter, compared with average daily volumes of 2.62 lakh shares in the past one quarter. The stock had hit a high of Rs 338.10 and a low of Rs 321 so far during the day.

The stock hit a 52-week high of Rs 358.55 on 2 August 2016. The stock hit a 52-week low of Rs 206.20 on 25 February 2016.

Motherson Sumi Systems announed that its board approved a proposal to make a voluntary, recommended public tender offer to acquire all the issued and outstanding shares and option rights in PKC Group (PKC) having its headquartered in Helsinki, Finland and currently listed on the Nasdaq Helsinki stock exchange. The acquisition will be made through a wholly owned subsidiary of the company, to be setup for the purpose.

The board has also approved for signing of combination agreement between the company and PKC for the proposed transaction. Accordingly, combination agreement has been executed by the company.

PKC shareholders are being offered a cash consideration of 23.55 euros for each share/options in PKC representing an aggregate equity purchase price of approximately 571 million euros in an open tender offer. The transaction is expected to be completed by end of March 2017.

PKC is a global tier 1 supplier of wiring harness and associated components to original equipment manufacturers (OEMs) in the heavy & medium duty commercial vehicles and locomotive segments across North America, Europe, Brazil and China.

On a consolidated basis, Motherson Sumi Systems net profit rose 26.17% to Rs 479.85 crore on 14.96% growth in net sales to Rs 10018.09 crore in Q2 September 2016 over Q2 September 2015.

Motherson Sumi Systems is one of the worlds fastest growing specialized automotive component manufacturing company for original equipment manufacturers (OEMs). It is a joint venture between Samvardhana Motherson Group and Sumitomo Wiring Systems (Japan).

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Mahindra & Mahindra acquires stake in Turkey based Hisarlar
Jan 20,2017

Mahindra & Mahindra announced that pursuant to Board of Directors approval, the Company has signed a share subscription agreement for subscribing upto 75.1% of the share capital of Hisarlar Makina Sanayi ve Ticaret Anonim Sirketi (Hisarlar), Turkey.

Hisarlar is a leading player in industrial cabinets and agriculture machinery market with revenue of 208 million Turkish Lira for the FY ended 31 December 2015.

The transaction is expected to close by April 2017. The association will help in growing the farm equipment business in Turkey and Europe.

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India Motor Parts & Accessories to consider Q3 and 9M results
Jan 20,2017

India Motor Parts & Accessories announced that a meeting of the Board of Directors of Company will be held on 27 January 2017 inter-alia to consider and take on record the Un-Audited Financial Results of the Company for the quarter and nine months ended 31 December 2016.

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Granules India to consider Q3 results and 3rd interim dividend
Jan 20,2017

Granules India announced that the meeting of the Board of Directors of the Company is scheduled to be held on 28 January 2017, inter alia, to consider and approve the Un-audited Financial Results for the third quarter ended 31 December 2016 and the payment of third interim dividend for the FY 2016-17, if any.

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Kirloskar Pneumatic hits record high after strong Q3 results
Jan 20,2017

Meanwhile, the S&P BSE Sensex was down 118.31 points or 0.43% at 27,190.29.

On the BSE, 23,000 shares were traded on the counter so far as against the average daily volumes of 2,440 shares in the past one quarter. The stock had hit a high of Rs 1,028 so far during the day, which is also its record high. The stock hit a low of Rs 905 so far during the day.

The stock had hit a 52-week low of Rs 622 on 15 February 2016. The stock had outperformed the market over the past one month till 19 January 2017, advancing 22.26% compared with the Sensexs 3.54% rise. The scrip had also outperformed the market over the past one quarter declining 0.27% as against the Sensexs 2.41% fall.

The small-cap company has equity capital of Rs 12.84 crore. Face value per share is Rs 10.

Shares of Kirloskar Pneumatic Company have rallied 30.73% in two trading sessions from its close of Rs 732.80 on 18 January 2017, after the company during market hours yesterday, 19 January 2017 reported strong Q3 December 2016 results. The stock had surged 17.92% to settle at Rs 864.10 yesterday, 19 January 2017.

Kirloskar Pneumatic Companys net profit jumped 288.9% to Rs 20.03 crore on 21.4% rise in net sales to Rs 123.91 crore in Q3 December 2016 over Q3 December 2015.

Kirloskar Pneumatic Company started its operations with the manufacture of air compressors and pneumatic tools. New product lines were then added, including air conditioning and refrigeration systems, marine HVACR, process gas systems and hydraulic power transmission machinery.

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Disa India announces change in directorate
Jan 20,2017

Disa India announced that the Companys Promoters Group, namely Norican Group, has made certain announcements regarding restructuring of the positions of some of its Country Heads and other Senior Executives of the Group arising out of which, Viraj Naidu, the Managing Director of DSA India will relocate to a global position.

In view of the above, the Company will shortly initiate the search process to identify a suitable candidate to replace Viraj Naidu in due course of time. Naidu will relocate after the replacement has joined the Company.

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Board of Nitesh Estates to consider December quarter results
Jan 20,2017

Nitesh Estates announced that a meeting of the Board of Directors of the Company is scheduled to be held on 09 February 2017, inter alia, to consider and approve the unaudited financial results of the Company for the quarter ended 31 December 2016.

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MEP Infrastructure Developers subsidiary gets project finance
Jan 20,2017

The announcement was made after market hours yesterday, 19 January 2017.

Meanwhile, the BSE Sensex was down 84.25 points, or 0.31%, to 27,224.35

On the BSE, so far 36,000 shares were traded in the counter, compared with average daily volumes of 42,291 shares in the past one quarter. The stock had hit a high of Rs 43.60 and a low of Rs 41.75 so far during the day.

The stock hit a 52-week high of Rs 50 on 23 September 2016. The stock hit a 52-week low of Rs 34 on 10 November 2016.

The small-cap company has equity capital of Rs 162.57 crore. Face value per share is Rs 10.

MEP Infrastructure Developers said that the companys subsidiary MEP SANJOSE Arawali Kante Road has achieved the financial closure as per the concession agreement executed with the Ministry of Road Transport and Highways dated 28 June 2016. This is for the rehabilitation and up-gradation of National Highway 66 to four lane with paved shoulder in Maharashtra under NHDP IV on hybrid annuity mode by tying up of project finance of Rs 266.84 crore.

On a consolidated basis, MEP Infrastructure Developers reported net profit of Rs 62.42 crore in Q2 September 2016 as compared with net loss of Rs 11.23 crore in Q2 September 2015. Total income rose 22.2% to Rs 570.13 crore in Q2 September 2016 over Q2 September 2015.

MEP Infrastructure Developers is one of the leading infrastructure operator and toll management company.

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MEP Infrastructure Developers gains as subsidiary gets project finance
Jan 20,2017

The announcement was made after market hours yesterday, 19 January 2017.

Meanwhile, the BSE Sensex was down 84.25 points, or 0.31%, to 27,224.35

On the BSE, so far 36,000 shares were traded in the counter, compared with average daily volumes of 42,291 shares in the past one quarter. The stock had hit a high of Rs 43.60 and a low of Rs 41.75 so far during the day.

The stock hit a 52-week high of Rs 50 on 23 September 2016. The stock hit a 52-week low of Rs 34 on 10 November 2016.

The small-cap company has equity capital of Rs 162.57 crore. Face value per share is Rs 10.

MEP Infrastructure Developers said that the companys subsidiary MEP SANJOSE Arawali Kante Road has achieved the financial closure as per the concession agreement executed with the Ministry of Road Transport and Highways dated 28 June 2016. This is for the rehabilitation and up-gradation of National Highway 66 to four lane with paved shoulder in Maharashtra under NHDP IV on hybrid annuity mode by tying up of project finance of Rs 266.84 crore.

On a consolidated basis, MEP Infrastructure Developers reported net profit of Rs 62.42 crore in Q2 September 2016 as compared with net loss of Rs 11.23 crore in Q2 September 2015. Total income rose 22.2% to Rs 570.13 crore in Q2 September 2016 over Q2 September 2015.

MEP Infrastructure Developers is one of the leading infrastructure operator and toll management company.

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UltraTech Cement imposed with penalty of Rs 68.3 crore for alleged cartelization
Jan 20,2017

UltraTech Cement announced that the Competition Commission of India (CCI), in a reference filed by the Government of Haryana for alleged cartelization in August, 2012, has, on 19 January 2017 assed an order, which is uploaded on their web site, directing:

1. the Company and other opposite parties to cease and desist from indulging in the acts / conduct which have been found to be in contravention of the provisions of the Competition Act, 2002, and

2. imposed a penalty of Rs. 68.3 crore on the Company, being 0.3% of the average turnover for the financial years 2012-13, 2013-14 and 2014-15.

The Company will take appropriate action after examining the Order fully.

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UltraTech Cement imposed with penalty of Rs 68.3 crore for alleged cartelization
Jan 20,2017

UltraTech Cement announced that the Competition Commission of India (CCI), in a reference filed by the Government of Haryana for alleged cartelization in August, 2012, has, on 19 January 2017 assed an order, which is uploaded on their web site, directing:

1. the Company and other opposite parties to cease and desist from indulging in the acts / conduct which have been found to be in contravention of the provisions of the Competition Act, 2002, and

2. imposed a penalty of Rs. 68.3 crore on the Company, being 0.3% of the average turnover for the financial years 2012-13, 2013-14 and 2014-15.

The Company will take appropriate action after examining the Order fully.

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Visa Steel announces resignation of director
Jan 20,2017

Visa Steel announced that Manoj Kumar Digga has resigned as Whole time Director of the Company w.e.f. 18 January 2017. He shall however continue as the Chief Financial Officer of the Company.

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Zydus Cadila acquires US based Sentynl Therapeutics
Jan 20,2017

Cadila Healthcare announced that Zydus Cadila has acquired Sentynl Therapeutics Inc., a US based specialty pharma company specialised in marketing of products in the pain management segment. The transaction will be EPS accretive.

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