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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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Tata Power appoints Director
Aug 14,2017

Tata Power has appointed Mr. Hemant Bhargava as LIC Nominee Director w.e.f. 24th August 2017.

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TPI India directorate changes
Aug 14,2017

TPI India has approved the appointment of Mr. Ravindra Shukla as an Additional Director designated as an Independent Director of the Company, and re-designation of Mr. Akshay Bhatt from Independent Director to Non-Executive Director of the Company.

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IDBI Bank approves preferential issue of Capital
Aug 14,2017

The Board of IDBI Bank on 14th August 2017 has approved the preferential issue of Capital aggregating upto Rs 1861 crore to the Government of India pursuant to the approval of the shareholders through postal ballot.

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Punjab Communications director relinquishes
Aug 14,2017

Punjab Communications announced that Sh. D.P. Reddy has relinquished the charge of directorship in the capacity of Chairman of our Company on 28th June 2017 and its holding company has appointed Sh. R.K. Verma as Chairperson / Director on the Board of the company.

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WPI inflation rebounds to 1.88% in July 2017
Aug 14,2017

The Wholesale Price Index (WPI)-based inflation, base year 2011-12, increased to 1.9% in July 2017 rebounded from 12-month low of 0.9% in June 2017, while snapping consistent sharp moderation for last four straight months. The WPI inflation was driven up by inflation primary articles turning positive in July 2017, while the inflation for fuel and power group as well as manufactured products group have decline in June 2017.

Inflation of primary articles rebounded to 0.5% in July 2017 from (-) 3.9% in June 2017. The inflation for fuel items dipped to 4.4% in July 2017, continuing sharp moderation for fifth straight month, from 5.3% in June 2017. The inflation for manufactured products also fell to 2.2% in July 2017 from 2.3% in June 2017.

As per major commodity group-wise, inflation increased sharply vegetables, fruits, egg, meat fish, spices, fodder, flouriculture, copper concentrate, tobacco products, wearing apparel, paper and paper products, basic metals, computer and electronic products, machinery and equipment, transport equipment and furniture in July 2017. On the other hand, inflation of foodgrains, milk, fibres, oilseeds, crude petroleum, mineral oil, food products, textiles, chemical products, rubber and plastic products, electrical equipment, motor vehicles declined in July 2017.

Inflation of food items (food articles and food products) rebounded to 2.1% in July 2017 from (-) 1.2% in June 2017 level. Meanwhile, inflation of non-food items (all commodities excluding food items) was flat at 1.8% in July 2017 compared with that in June 2017.

Core inflation (manufactured products excluding foods products) rose marginally to 2.1% in July 2017 from 2.0% in June 2017.

The contribution of primary articles to the overall inflation, at 1.88%, was positive 12 basis points (bps) in July 2017, showing rebound from (-) 103 bps to 0.90% in June 2017. The contribution of fuel product group eased to 44 bps against 53 bps in June 2017, while that of manufactured products was lower at 133 bps compared with 144 bps.

The contribution of food items (food articles and food products) to inflation turned positive at 63 bps to 1.88% in July 2017 compared with (-) 37 bps to 0.90% in June 2017. Meanwhile, the contribution of non-food items (all commodities excluding food items) was nearly flat at 128 bps in July 2017 compared with 125 bps in June 2017.

The WPI inflation stood at 2.2% in April-July FY2018 against (-) 0.4% in April-July FY2017. The primary articles inflation was at (-) 1.0% in April-July FY2018 from 5.0% in April-July FY2017, while fuel products inflation increased to 9.5% from (-) 12.6%. The inflation for manufactured products bounced to 2.5% in April-July FY2018 from (-) 0.3% in April-July FY2017.

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SER Industries director resigns
Aug 14,2017

SER Industries announced that Mr. Vilas Ganesh Rangnekar is relieved off from his duties as Director of the Company with effect from 28th July 2017.

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Ashoka Refineries CFO resigns
Aug 14,2017

The Board of Ashoka Refineries has approved the resignation of Shri Sudhir Dixit and Ms. Monika Jain from the post of Director & Chief Financial Officer and Company Secretary respectively on 14th August 2017.

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NESCO fixes record for sub-division of equity shares
Aug 14,2017

NESCO has fixed 18 September 2017 as the Record Date for the purpose of sub-division of equity shares.

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Triveni Turbine appoints director
Aug 14,2017

Triveni Turbine has appointed Dr. Santosh Pande s an Independent Director of the Company (not liable to retire by rotation) for a period of five years, with effect from 19th July 2017.

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Advent Computer Services shifts registered address
Aug 14,2017

Advent Computer Services announced that the registered address of the Company with effect from 16th August 2017 stands changed to K22, 7th Floor, Swathi Towers, Durgabai, Deshmukh Road, R A Puram, Chennai - 600028.

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Tata Power Company gets energized after posting strong Q1 results
Aug 14,2017

The result was announced during market hours today, 14 August 2017.

Meanwhile, the S&P BSE Sensex was up 298.08 points, or 0.93% to 31,504.84.

More than usual volumes were witnessed on the counter. On the BSE, 4.74 lakh shares were traded in the counter so far, compared with average daily volumes of 2.66 lakh shares in the past one quarter. The stock had hit a high of Rs 81.15 and a low of Rs 76.50 so far during the day. The stock had hit a 52-week high of Rs 91.25 on 3 April 2017. The stock had hit a 52-week low of Rs 67.10 on 9 November 2016.

The stock had fallen 7.2% in six sessions to settle at Rs 76.65 on 11 August 2017, from a close of Rs 82.60 on 3 August 2017.

The stock had underperformed the market over the past one month till 11 August 2017, falling 7.65% compared with the Sensexs 1.68% decline. The stock had also underperformed the market over the past one quarter, declining 7.03% as against the Sensexs 3.18% rise. The scrip had also underperformed the market over the past one year, gaining 2.96% as against the Sensexs 12.04% rise.

The large-cap company has equity capital of Rs 270.48 crore. Face value per share is Re 1.

Tata Power is Indias largest integrated power company with a significant international presence. The company has a presence in all the segments of the power sector viz generation (thermal, hydro, solar and wind), transmission, distribution and trading.

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Panama Petrochem approves bonus issue
Aug 14,2017

The Board of Directors at their meeting held on 14th August 2017 approved the issue of bonus share in the ratio of 1:2 i.e. 1(one) equity share of Rs. 2 each for every 2 (two) fully paid up equity shares held as on the record date, subject to approval of the members of the Company.

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Indias insurance sector is undergoing unprecedented modernization: Report
Aug 14,2017

Insurers must adapt to New-age customers needs, leverage on the explosion of data and digital footprint and the changing investment environment.

The CII - PWC report, titled Evolving Considerations for the Indian Insurance Industry discusses three key areas relevant to the current insurance sector - Simple Products and Low Cost Distribution, Digitization and Fraud Management and Broadening Investment Horizon.

Eco system for insurance in India is rapidly changing. Government of India initiatives such as demonetization, introduction of UPI, India Stack are accelerating the adoption of digital technologies. The Insurance Regulatory & Development Authority of India (IRDAI) is heralding change through its e-insurance initiative and financial literacy programs. Mobile adoption and internet trends under Digital India banner are bringing in a new generation of customers who are conversant and comfortable with using technology for their financial decisions. It is important to adapt to strategies that align with these changing trends to stay ahead of competition.

Some of the ways of achieving transformation in Indian Insurance Sector can be illustrated as follows. There needs be a simplification of products in the areas of policy benefit, wording of policy, application process and the claim process. The insurers could focus on One Need One Product scenario, where customers are provided simplified products that cater to their specific needs. Big Data technologies needs to be leveraged to enable augmentation of the traditional data with images, text, voice and IOT (telematics, wearables and drones). The Intelligence techniques could be encouraged which include machine learning from past experience and improve their prediction of fraud over time. The modern investment choices like private equity, property, derivative and digital for higher returns in the current low interest rate environment could be explored. Asset liability management that use qualitative and quantitative portfolio optimisation techniques can be leveraged to drive effective investment strategies.

Mr Chandrajit Banerjee, Director General, CII said, n++The Insurance Industry is at the threshold of a long period of growth. With the rapid change in technology and digitisation, the drivers of insurance business are changing. Those insurers who disrupt themselves continuously would be the ones who will succeed in the long run. All stakeholders - the industry, intermediaries, government and regulator need to work together in transforming customer experiencen++.

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Satin Creditcare Network grants options
Aug 14,2017

Satin Creditcare Network has approved the grant of 1,45,200 options to the Employees of the Satin Creditcare Network and its Subsidiaries at an exercise price of Rs. 160/- each, under the Satin ESOP Scheme, 2017 (ESOP Scheme, 2017).

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Ramchandra Leasing and Finance schedules AGM
Aug 14,2017

Ramchandra Leasing and Finance announced that the Annual General Meeting (AGM) of the company will be held on 26 September 2017.

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