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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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Board of Pennar Engineered Building Systems to consider December quarter results
Jan 18,2017

Pennar Engineered Building Systems announced that a meeting of Board of Directors of the Company will be held on 03 February 2017, inter alia, to consider and approve the Unaudited Financial Results (Standalone) of the Company for the quarter ended 31 December 2016.

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TTK Healthcare to announce Q3 results
Jan 18,2017

TTK Healthcare announced that a meeting of the Board of Directors of the Company is scheduled to be held on 03 February 2017, inter alia, to consider and approve the Unaudited Financial Results of the Company for the Third Quarter ended 31 December 2016.

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Board of Cochin Minerals & Rutile to consider December quarter results
Jan 18,2017

Cochin Minerals & Rutile announced that the meeting of the Board of Directors of the Company which will inter alia, consider the Unaudited Financial Results for the quarter ended 31 December 2016 will be held on 09 February 2017.

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AD Manum Finance to consider December quarter results
Jan 18,2017

AD Manum Finance announced that a meeting of the Board of Directors of the Company will be held on 31 January 2017, to approve the Unaudited Financial Results for the quarter ended on 31 December 2016.

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Board of Polyspin Exports to consider December quarter results
Jan 18,2017

Polyspin Exports announced that the meeting of the Board of Directors of the Company will be held on 28 January 2017, to consider the Unaudited financial results for the quarter ended 31 December 2016.

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Board of Healthy Investments to consider Q3 results
Jan 18,2017

Healthy Investments announced the meeting of Audit Committee and Board of Directors of the Company scheduled to be held on 30 January 2017, inter alia, to consider and approve the un-audited Financial Results of the Company for the 3rd Quarter ended 31 December 2016.

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Cabinet approves MoU on cooperation on Youth matters between India and Russia
Jan 18,2017

Exchange programmes in the field of Youth Affairs between India and Russia will help in promoting exchange of ideas, values and culture amongst Youth through establishment of people-to-people contacts and in consolidating friendly relations between the two countries.

The selections for participation in exchange programmes shall be done in an objective and transparent manner and the outcomes of the programmes under the MoU shall be open for public scrutiny.

Exchange programmes will help in developing international perspective among the Youth and expanding their knowledge and expertise in the areas of Youth Affairs.

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Cabinet approves Indias Membership in the International Vaccine Institute (IVI), South Korea
Jan 18,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval to the proposal for Indias taking full membership of the International Vaccine Institute (IVI) Governing Council. The move involves payment of annual contribution of US $ 5,00,000 to the International Vaccine Institute (IVI), Seoul, South Korea.

Background

International Vaccine Institute (IVI), Seoul, South Korea, established in 1997 on the initiatives of the UNDP, is an international organization devoted to developing and introducing new and improved vaccines to protect the people, especially children, against deadly infectious diseases. In the year 2007, with the approval of Cabinet, India joined IVI. India is a long-term collaborator and stake-holder of IVI. In December, 2012 the Board of Trustees (BOT) of IVI approved the formation of its new governance structure. As per the new governance structure of IVI, a member State has to contribute to the IVI by paying a portion of its core budget. Since India is classified in Group-I, it has to pay an annual contribution of US $ 50,000.

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Cabinet approves MoU between India and Serbia for cooperation in the field of Information Technology and Electronics
Jan 18,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given ex-post facto approval to the Memorandum of Understanding (MoU) signed between India and Serbia for promoting cooperation in the field of Information Technology and Electronics.

The MoU aims to promote cooperation between India and Serbia in the field of IT and Electronics, and to foster active cooperation and exchanges between the private entities, capacity building institutions, the Governments and other public and private organizations of the two countries in IT & Electronics.

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Cabinet apprised of the MoU between the ISRO and the JAXA for cooperation in the field of outer space
Jan 18,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has been apprised of the Memorandum of Understanding (MoU) signed on November 11, 2016 at Tokyo, Japan between the Indian Space Research Organisation (ISRO) and the Japanese Aerospace Exploration Agency (JAXA) for cooperation in the field of outer space.

The purpose of this MoU is to pursue future cooperative activities in the exploration and use of outer space exclusively for peaceful purposes in accordance with the laws and regulations applicable in each country and their international obligations.

This MoU provides scope for pursuing cooperation in various areas of space science technology and applications including: eearth observation, satellite communication and navigation; exploration and space sciences; Research and development (space systems and space technology); and Space industry promotion.

ISRO and JAXA will bear the costs of their respective activities under this Memorandum, unless they decide otherwise in writing. Ability to fulfil their respective roles and activities under this Memorandum and its relevant separate Implementation Arrangement is subject to their respective funding procedures, the availability of appropriated funds and their respective national laws.

Framework MoU would lead to joint activity in the field of application of space technologies for the benefit of humanity. Thus all sections and regions of the country will get benefited.

Background:

India and Japan pursue space cooperation for more than 5 decades and carried out studies in the field of atmospheric study, observation of universe and scientific investigation in remote sensing. With the formation of JAXA in 2003, an arrangement concerning the considerations of potential future cooperation in the field of outer space was signed in October 2005 between ISRO/ Department of Space (DOS) and JAXA. Subsequently both agencies have signed cooperative documents addressing lunar exploration, satellite navigation, X-ray astronomy and Asia Pacific Regional Space Agency Forum (APRSAF).

During the ISRO-JAXA bilateral meeting held at New Delhi on April 05, 2016, both sides stressed the need for updating the contents of 2005 Arrangement with enhanced scope of cooperation. Accordingly, both sides have arrived at the draft of new Memorandum of Understanding (MoU) between ISRO and JAXA concerning cooperation in the field of outer space and got it signed on November 11, 2016 at Tokyo during the visit of Prime Minister of India to Japan.

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Cabinet approves Trade Agreement negotiations with Peru
Jan 18,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for amendment in the Modified Special Incentive Package Scheme (M-SIPS) to further incentivize investments in Electronic Sector and moving towards the goal of Net Zero imports in electronics by 2020.

Besides expediting investments into the Electronics System Design and Manufacturing (ESDM) sector in India, the amendments in M-SIPS are expected to create employment opportunities and reduce dependence on imports. The projects already received under the scheme have the potential to generate employment to the extent of upto one million persons (direct and indirect).

The Policy covers all States and Districts and provides them an opportunity to attract investments in electronics manufacturing. So far, 243 applications have been received under the scheme, out of which 75 applications have been approved involving investment proposals of Rs. 17,997 crore.

The salient features of the amendment are:

a) The applications will be received under the scheme upto 31st December 2018 or till such time that an incentive commitment of Rs 10,000 crore is reached, whichever is earlier. In case the incentive commitment of Rs 10,000 crore is reached, a review will be held to decide further financial commitments.

b) For new approvals, the incentive under the scheme will be available from the date of approval of a project and not from the date of receipt of application.

c) The incentives will be available for investments made within 5 years from the date of approval of the project.

d) Approvals will normally be accorded to eligible applications within 120 days of submission of the complete application.

e) A unit receiving incentives under the scheme, will provide an undertaking to remain in commercial production for a period of at least 3 years.

f) The Appraisal Committee recommending approval of project will be chaired by Secretary, Ministry of Electronics and IT.

g) A separate Committee headed by Cabinet Secretary and comprising of CEO, NITI Aayog, Secretary Expenditure and Secretary, MeitY will be set up in respect of mega projects, envisaging more than Rs. 6850 crore (approx. USD 1 Billion) investments.

Background

The Cabinet had, in July, 2012 approved the M-SIPS to provide a special incentive package to promote large scale manufacturing in the Electronic System Design and Manufacturing (ESDM) sector. The scheme provides subsidy for capital expenditure - 20% for investments in Special Economic Zones (SEZs) and 25% in non-SEZs. The Scheme was amended in August, 2015 for scope enhancement and simplification of procedure. The Scheme has attracted investments in the ESDM sector to the tune of Rs. 1,26,838 crore, of which investments of around Rs. 17,997 crore have been approved by the MeitY. The M-SIPS has been able to create positive impact on investment in electronics sector.

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Cadila Healthcare gains after receiving final approval for Methotrexate tablets
Jan 18,2017

The announcement was made during market hours today, 18 January 2017.

Meanwhile, the BSE Sensex was up 21.98 points, or 0.08%, to 27,257.64

On the BSE, 93,000 shares were traded in the counter, compared with average daily volumes of 64,465 shares in the past one quarter. The stock had hit a high of Rs 359.30 and a low of Rs 351.30.

The stock hit a 52-week high of Rs 429.45 on 1 November 2016. The stock hit a 52-week low of Rs 295.50 on 18 January 2016. The stock had underperformed the market over the past 30 days till 17 January 2017, sliding 6.04% compared with the 3.26% rise in the Sensex. The scrip also underperformed the market in past one quarter, sliding 10.42% as against Sensexs 2.68% decline.

The large-cap company has equity capital of Rs 102.37 crore. Face value per share is Re 1

Cadila Healthcare said that the company has received final approval from the US Food and Drug Administration (USFDA) for Methotrexate tablets USP. 2.5 mg, a chemotherapy drug used for leukemias, lymphnomas, breast cancer, lung cancer, head and neck cancers and other cancers. The drug will be produced at groups formulations manufacturing facility at the pharma special economic zone in Ahmedabad. The group now has more than 105 approvals and has so far filed nearly 275 Abbreviated New Drug Applications (ANDAs) since the commencement of the filing process in the financial year ended 31 March 2004.

Cadila Healthcare during trading hours yesterday, 17 January 2017 announced settlement with Kowa Company, Kowa Pharmaceuticals America and Nissan Chemical Industries on Livalo tablets. The stock had gained 0.19% to settle at Rs 349.80 yesterday, 17 January 2017.

On a consolidated basis, net profit of Cadila Healthcare declined 28.97% to Rs 337.60 crore on 3.08% rise in net sales to Rs 2336.30 crore in Q2 September 2016 over Q2 September 2015.

Cadila Healthcare is an innovative, global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies.

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Ashok Leyland launches GURU and the Next Generation PARTNER
Jan 18,2017

Ashok Leyland launched the GURU - the latest intermediate commercial vehicle (ICV) and the PARTNER - the new light commercial vehicle in Chennai on 18 January 2017. GURU has been launched in the price range of Rs 14.35 lakh to 16.72 lakh including VAT and the PARTNER 6 tyre, 14 ft HSD BS IV at Rs 10.59 lakh and PARTNER 4-tyre, 14 ft HSD BS IV is priced at Rs 10.29 lakh. Prices are ex-showroom, Chennai.

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Cabinet approves MoU between India and the United Arab Emirates on the Mutual Recognition of Certificates of Competency
Jan 18,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the Memorandum of Understanding (MoU) between India and the United Arab Emirates on the Mutual Recognition of Certificates of Competency.

The proposed MoU will pave way for recognition of maritime education and training, certificates of competency, endorsements, training documentary evidence and medical fitness certificates for seafarers issued by the Government of the other country in accordance with the provisions of Regulation 1/10 of the Convention, and cooperation between the two countries in training and management of seafarers.

The MoU will ensure that the education, training and assessment of seafarers, as required by the STCW Convention, are administered and monitored in accordance with of the STCW Code for each type and level of training assessment involved.

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Cabinet approves listing of PSU General Insurance Companies
Jan 18,2017

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi has given its in principle approval for listing the following five Government owned General Insurance Companies in the stock exchanges. These are:

(i) The New India Assurance Company

(ii) United India Insurance Company

(iii) Oriental Insurance Company

(iv) National Insurance Company and

(v) General Insurance Corporation of India

The shareholding of these Public Sector General Insurance Companies (PSGICs) will be divested from 100% to 75% in one or more tranches over a period of time. During the process of disinvestment, existing rules and regulations of Securities and Exchange Board of India (SEBI) and Insurance Regulatory and Development Authority of India (IRDAI) will be followed.

Listing of (PSGICs) is likely to yield the following benefits:

a. Listing on the Stock Exchange necessitates compliance with a number of disclosures and accounting requirements of SEBI, which acts as an additional oversight mechanism. The disclosures bring about transparency and equity in the companies functioning.

b. Listing is expected to lead to improved corporate governance and risk management practices leading to improved efficiency. A greater focus on growth and earnings can also be expected.

c. Listing will open the way for the companies to raise resources from the capital market to meet their fund requirements to expand their businesses, instead of being dependent on the Government for capital infusion.

The Finance Minister in his Budget Speech for 2016-17 had announced that public shareholding in Government-owned companies is a means of ensuring higher levels of transparency and accountability; and to promote this objective, the general insurance companies owned by the Government will be listed on the stock exchanges.

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