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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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Oudh Sugar Mills gets upgradation in ratings for bank facilities
Jan 03,2017

Oudh Sugar Mills announced that the Credit Analysis & Research has upgraded & assigned CARE BBB- (Triple B Minus) rating to Long-term Bank facilities from Banks so accepted by the Company.

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LPG customers to now get a discount for on-line payment of LPG refill
Jan 03,2017

Oil Marketing Companies, viz IndianOil, BPCL & HPCL are now offering an upfront discount of Rs 5/- on every LPG refill to all LPG customers who will book and pay for their LPG cylinders online. Customers can make payment through existing online modes i.e net banking, credit & debit cards at the time of web-booking their refills.

Customers will get the discounted amount displayed on their screens - i.e. net amount i.e refill RSP minus (-) incentive amount of Rs.5/- which they need to pay for their refill transactions. The net discounted amount will also be shown on the cash memo accompanying the home-delivery of the LPG cylinder.

Under the aegis of Ministry of Petroleum & Natural Gas, it the endeavour of all Oil Marketing Companies aim to encourage consumers to increasingly shift to such payment modes through digital platforms to achieve the objective of no-cash or less-cash based transactions. The incentive will encourage more and more LPG consumers to go for cashless mode transactions.

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Upper Ganges Sugar & Industries gets upgradation in rating for bank facilities
Jan 03,2017

Upper Ganges Sugar & Industries announced that the Credit Analysis & Research has upgraded & assigned CARE BBB(Triple B) rating to Long-term Bank facilities from Banks so accepted by the Company.

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SEAMEC announces resignation of MD
Jan 03,2017

SEAMEC announced Captain C.J. Rodricks has resigned from the services of the Company as Managing Director. His resignation will take effect from the close of business hours on 31 March 2017.

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Pan-India expansion of Maternity Benefit Programme (MBP) to benefit pregnant and lactating mothers across the country
Jan 03,2017

Government of India is committed to ensure that every woman attains optimal nutritional status especially from the most vulnerable communities as nutrition constitutes the foundation for human development. This is all the more important during the period of pregnancy and lactation coupled with wage loss. A womans nutritional status has important implications for her health as well as the health and development of her children.

An under-nourished mother almost inevitably gives birth to a low birth weight baby. When poor nutrition starts in-utero, it extends throughout the life cycle, particularly in women. Owing to economic and social distress many women continue to work to earn a living for their family right upto the last days of their pregnancy. Furthermore, they resume working soon after childbirth, even through their bodies might not permit it, thus preventing their bodies from fully recovering on one hand, and also impending their ability to exclusively breastfeed their young infant in the first six months.

To address the above issues, Ministry of Women and Child Development, in accordance with the provisions of Section 4(b) of National Food Security Act, formulated a scheme for pregnant and lactating mothers called Maternity Benefit Programme Gô a conditional cash transfer scheme. The Scheme provides cash incentives to pregnant and lactating women (i) for the wage loss so that the woman can take adequate rest before and after delivery; (ii) to improve her health and nutrition during the period of pregnancy and lactation; and (iii) to breastfeed the child during the first six months of the birth, which is very vital for the development of the child.

Under the scheme, all Pregnant Women and Lactating Mothers (PW&LM), excluding the Pregnant Women and Lactating Mothers who are in regular employment with the Central Government or State Governments or Public Sector Undertakings or those who are in receipt of similar benefits under any law for the time being are eligible. The cashincentive of Rs.6,000/- is payable in three instalments for the first two live births at the following stages:

Cash Transfer

Conditions

Amount
(in Rs.)

First instalment

(in first trimester of pregnancy)n++

-+n++n++ Early Registration of Pregnancy, preferably within first three months.
-+n++n++ Received one antenatal check-up.

3,000/-

Second instalment

-+n++n++ At the time of institutional delivery.

1500/-

Third instalment
(3 months after delivery)

-+n++n++ Child birth is registered.
-+n++n++ Child has received BCG vaccination.
-+n++n++ Child has received OPV and DPT-1 & 2.

1,500/-

The cash transfer would be Aadhaar linked through the individual bank/post office account etc. in DBT mode.

Honble Prime Minister of India, Shri Narendra Modi, in his address to the nation on 31.12.2016 has announced pan-India expansion of MBP in all the districts with effect from 01.01.2017. It is expected that annually about 51.70 lakh beneficiaries would avail of the benefit.

Expansion of MBP will have huge impact on the PW&LM as it will not only provide them compensation for the wage loss but will also provide them adequate nutrition and rest before and after delivery. Mothers will have sufficient time to breastfeed the child during first six months of the birth. Resultantly, it is expected that it will reduce mother mortality rate, IMR, under-nutrition and its adverse effects.

It is a Centrally Sponsored Scheme and the cost sharing between Centre and States is 60:40 for all the States and UTs (with legislature), 90:10 for NER and Himalayan States and 100% GoI share for UTs without legislatures. The total cost of the proposal for the balance period of 2016-17 and from 2017-18 to 2019-20 including Centre and State share is expected to be Rs. 12,661.00 crore. Out of this, Government of Indias share for the balance period of 2016-17 (Rs. 584 crore) and from 2017-18 to 2019-20 (Rs. 7348 crore) is expected to be Rs. 7932 crore.

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Sat Industries incorporates subsidiary in UAE - Italica Global FZC
Jan 03,2017

Sat Industries announced that:

1. Company has incorporated an wholly owned subsidiary (WOS) Company namely; Italica Global FZC, a Free Zone Company in Ajman Free Zone, United Arab Emirates and it is likely to commence business very shortly.

2. Companys Subsidiary namely; Sah Polymers, has received a Letter of Intent from Indian Oil Corporation for appointment as DSA cum CS (Direct Selling agent cum Consignment Stockiest) for their polymer business, location at Udaipur, Rajasthan.

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MOIL revised prices of various grades of manganese ore for Q4
Jan 03,2017

MOIL has fixed prices of various grades of manganese ore for 4th quarter (January - March 2016) effective from 01 January 2017.

The prices of all ferro grades of ore have increased by 10%.

The prices of all grades of SMGR (Mn 30%) and SMGR Low (Mn 25%) has increased by 15%.

The prices of all grades of fines have increased by 15%.

The prices of all chemical grades ore have increased by 10%.

The prices of Electrolytic Manganese Dioxide (EMD) has increased by 5%.

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MOIL revises prices of various grades of manganese ore for Q4
Jan 03,2017

MOIL has fixed prices of various grades of manganese ore for 4th quarter (January - March 2016) effective from 01 January 2017.

The prices of all ferro grades of ore have increased by 10%.

The prices of all grades of SMGR (Mn 30%) and SMGR Low (Mn 25%) has increased by 15%.

The prices of all grades of fines have increased by 15%.

The prices of all chemical grades ore have increased by 10%.

The prices of Electrolytic Manganese Dioxide (EMD) has increased by 5%.

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Punjab & Sind Bank revises MCLR rates
Jan 03,2017

Punjab & Sind Bank has revised the Marginal Cost of Fund Based Lending Rate (MCLR) for different tenor and the same will be effective from 04 January 2017.

Overnight - 8.60%
One month - 8.60%
Three month - 8.65%
Six month - 8.70%
One year - 8.75%
Three year - 8.95%
Five year - 9.10%

The Base Rate and BPLR has been revised from 9.75% and 14.75% to 9.70% and 14% respectively with effect from 04 January 2017.

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MMTC announces change in directorate
Jan 03,2017

MMTC announced that pursuant to the order of the Department of Commerce, MOC & I vide its communication dtd. 03 November 2016, Tapas Kumar Sengupta has assumed the charge of Director(Personnel) in MMTC on 02 January 2017 vice Rajeev Jaideva who has superannuated on 30 December 2016 (31 December 2016 being closed holiday).

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Zuari Global intimates of new subsidiary - Stylespa Furniture
Jan 03,2017

Zuari Global announced that the Indian Furniture Products (IFPL) and Zuari Management Services, subsidiaries of the Company have incorporated a Company under the name & Style of STYLESPA FURNITURE by subscribing to the equity share capital of the said company.

Consequently, STYLESPA FURNITURE has also become a subsidiary of Zuari Global.

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Trident fixes record date for interim dividend
Jan 03,2017

Trident has fixed 27 January 2017 as the Record Date for the purpose of 2nd Interim Dividend on Equity Share Capital for the financial year 2016-17, if declared by the Board.

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Board of Dhanuka Agritech approves buyback of share upto Rs 80 crore
Jan 03,2017

Dhanuka Agritech announced that the Buyback Committee of Board of Directors of the Company at its meeting held on 03 January 2017, inter alia, have determined the Final Buyback Price of Rs. 850 (the n++Buyback Pricen++) and the final amount for Buyback to be Rs. 80 crore (the n++Buyback Sizen++) excluding the transaction costs viz. brokerage, applicable taxes such as securities transaction tax, service tax, stamp duty etc.

With the Buyback price of Rs. 850 and Buyback Size of Rs. 80 crore the total number of shares to be bought back in the Buyback shall be 9,41,176 Equity Shares, representing about 1.88% of the total issued and paid-up equity capital of the Company as on 31 March 2016.

The aforesaid terms of Buyback are within the maximum limits approved by the Board of Directors at its Board Meeting held on 10 November 2016, and as approved by shareholders by Special Resolution, through Postal Ballot, results of which were announced on 02 January 2017.

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Yes Bank implements multi-nodal blockchain solution in India
Jan 03,2017

Yes Bank announced that the Bank has implemented a multi-nodal Blockchain transaction to fully digitise vendor financing for Bajaj Electricals. The implementation has been done on a blockchain-based smart contract written by fintech start-up Cateina Technologies. Yes Bank will also leverage IBM Watson Conversation, a cloud based cognitive service, to enhance the digital experience of partners, corporate clients and developers collaborating with them on the integrated Blockchain - API Banking platform.

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Rupee sags further
Jan 03,2017

Rupee dropped further on Tuesday (03 January 2017) to close at 68.3879/4030 per dollar, versus its previous close of 68.2225/2325 per dollar.

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