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Mastek edges higher after its unit acquires digital commerce solution provider
Jan 06,2017

The announcement was made after market hours yesterday, 5 January 2017.

Meanwhile, the BSE Sensex was up 93.94 points, or 0.35%, to 26,972.07.

On the BSE, 43,069 shares were traded in the counter so far, compared with average daily volume of 95,094 shares in the past one quarter. The stock had hit a high of Rs 181 and a low of Rs 176.30 so far during the day. The stock had hit a 52-week high of Rs 201.40 on January 2016. The stock had hit a 52-week low of Rs 104.70 on 17 February 2016.

The stock had outperformed the market over the past one month till 5 January 2017, rising 25.31% compared with the Sensexs 2.01% rise. The scrip had also outperformed the market in past one quarter, gaining 32.69% as against the Sensexs 4.76% fall.

The small-cap company has equity capital of Rs 11.65 crore. Face value per share is Rs 5.

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

The TAISTech Executive Leadership Team, led by Kapil Malik and Aman Bedi, will continue to run operations as a wholly owned subsidiary of Digility Inc.

Founded in 2000, TAISTech is a digital commerce services leader that provides strategic consulting, large-scale commerce implementations and support for the Oracle Commerce and Oracle Commerce Cloud applications. In addition, TAISTech also provides omnichannel strategy, creative design, mobile app development, ongoing maintenance and training.

TAISTech, with revenues close to $30 million, has posted steady growth of 15% compounded annual growth rate (CAGR) over the past four years in the US market and has been exploring aggressive expansion plans into Latin America and Europe.

This acquisition will create a platform for Masteks accelerated growth in the US market and will augment Masteks 2020 vision to be a global leader in digital transformation services.

TAISTech brings experience with some the most powerful brands in the retail and manufacturing industries, including Fortune 500 customers. The company delivers a personalized customer buying experience across web, mobile, social media and brick and mortar stores. With the acquisition in place, TAISTech will also grow its service portfolio by leveraging Masteks strength in data warehousing, business intelligence and analytics, enterprise testing and Agile process consultancy services.

Post the demerger of Majesco, Mastek has been allocating capital to expand its reach in geographies, markets and capabilities. In 2015, Mastek acquired the UK-based leader in Agile Digital Transformation, IndigoBlue and created a fully owned subsidiary, Digility Inc to renter the US market.

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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IT stocks slide on revived H1B visa concerns
Jan 06,2017

HCL Technologies (down 2.86%), Tech Mahindra (down 2.52%), Infosys (down 2.31%), Oracle Financial Services Software (down 1.56%), TCS (down 1.44%), Wipro (down 1.18%) and Persistent Systems (down 0.89%) edged lower.

Meanwhile, the S&P BSE Sensex was up 116.46 points or 0.43% at 26,994.70. The BSE IT index was currently down 1.97%, underperforming the Sensex.

The new bill would require workers on the H-1B visa pay a minimum of $100,000, up from $60,000 currently. The bill also removes the Masters degree exemption to the cap on the number of visas available, as per reports. The bill comes after companies such as Disney and Southern California Edison have come under fire for outsourcing their IT operations to Indian companies.

US is the biggest outsourcing market for Indian IT firms.

The S&P BSE IT index had outperformed the market over the past one month till 5 January 2017, advancing 5.25% compared with the Sensexs 2.01% rise. The index had also outperformed the market in past one quarter, declining 1.14% as against the Sensexs 4.76% fall.

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GM Breweries drops on weak Q3 results
Jan 06,2017

The result was announced after market hours yesterday, 5 January 2017.

Meanwhile, the S&P BSE Sensex was up 83.95 points or 0.31% at 26,962.19.

On the BSE, 5,639 shares were traded in the counter so far as against average daily volume of 15,805 shares in the past one quarter. The stock had hit a high of Rs 500 and a low of Rs 481 so far during the day. The stock had hit record high of Rs 928.20 on 8 January 2016. The stock had hit a 52-week low of Rs 430 on 9 November 2016.

The stock had underperformed the market over the past one month till 5 January 2017, dropping 1.71% compared with the Sensexs 2.01% rise. The scrip had also underperformed the market in past one quarter, declining 21.78% as against the Sensexs 4.76% fall.

The mid-cap company has equity capital of Rs 14.62 crore. Face value per share is Rs 10.

GM Breweries is engaged in manufacturing and marketing of alcoholic beverages such as country liquor (CL) and Indian made foreign liquor (IMFL).

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IP Rings retracts from record high on profit booking
Jan 06,2017

Meanwhile, the S&P BSE Sensex was up 59.93 points or 0.22% at 26,938.17.

On the BSE, 5,967 shares were traded on the counter so far as against the average daily volumes of 7,914 shares in the past two weeks. The stock had hit a high of Rs 254.50 so far during the day, which is a record high for the counter. The stock hit a low of Rs 211.15 so far during the day. The stock had hit a 52-week low of Rs 91 on 5 January 2016.

The small-cap company has equity capital of Rs 7.04 crore. Face value per share is Rs 10.

Shares of IP Rings had rallied by the maximum permissible circuit level of 20% to settle at Rs 240.10 yesterday, 5 January 2017, after the companys announcement after market hours on 4 January 2017 that its board on that day, finalised the rights entitlement terms.

IP Rings board approved rights issue in the ratio of four rights equity shares for every five equity shares held on the record date i.e. 16 January 2017. The rights issue price was fixed at Rs 88.75 per share.

IP Rings reported net loss of Rs 1.40 crore in Q2 September 2016, higher than net loss of Rs 0.45 crore in Q2 September 2015. Net sales rose 56.8% to Rs 42.27 crore in Q2 September 2016 over Q2 September 2015.

IP Rings is an automotive components manufacturer.

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Wockhardt gains after getting EU GMP certificate for Gujarat facility
Jan 06,2017

The announcement was made after market hours yesterday, 5 January 2017.

Meanwhile, the BSE Sensex was up 71.88 points, or 0.27%, to 26,950.12.

On the BSE, 45,491 shares were traded in the counter so far, compared with average daily volumes of 1.91 lakh shares in the past one quarter. The stock had hit a high of Rs 707 and a low of Rs 695.85 so far during the day.

Wockhardt said that competent authority, Berlin, Germany has issued EU good manufacturing practices (GMP) certificate confirming that companys manufacturing facility at 138, GIDC Estate, Ankaleshwar, Gujarat, complies with the principles and guidelines of good manufacturing practices. The certificate issued in this regard is valid for 3 years.

On a consolidated basis, net profit of Wockhardt declined 81.6% to Rs 17.02 crore on 13.4% decline in net sales to Rs 1064.69 crore in Q2 September 2016 over Q2 September 2015.

Wockhardt is a research based and technology intensive global pharmaceutical and biotechnology company.

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Rally in SSWL counter continues unabated
Jan 05,2017

Meanwhile, the S&P BSE Sensex was up 248.88 points or 0.93% at 26,882.01.

On the BSE, 11,000 shares were traded on the counter so far as against the average daily volumes of 10,659 shares in the past one quarter. The stock had hit a high of Rs 701 and a low of Rs 669.60 so far during the day.

The stock had hit a record high of Rs 775 on 14 October 2016 and a 52-week low of Rs 284 on 17 February 2016. It had outperformed the market over the past one month till 4 January 2017, surging 10.55% compared with the Sensexs 1.53% rise. The scrip had also outperformed the market in past one quarter, advancing 6.77% as against the Sensexs 6% fall.

The small-cap company has equity capital of Rs 15.53 crore. Face value per share is Rs 10.

Shares of Steel Strips Wheels (SSWL) have risen 4.77% in two trading sessions from its close of Rs 656.10 on 3 January 2017, after the company during market hours yesterday, 4 January 2017 issued a 7% growth guidance in its sales volume at 35.6 lakh units in Q4 March 2017 over Q3 December 2016. In response to this announcement, the stock had risen 2.06% to settle at Rs 669.60 yesterday, 4 January 2017.

The buoyant volume growth guidance for Q4 March 2017 vis-n++-vis preceding sequential quarter is primarily driven by passenger cars and very good growth in tractors and truck segment. The commercial vehicles (CV) segment is witnessing very good demand for Q4 March 2017 and will surely negate the demonetization impact, Steel Strips said. The portfolio growth of heavier wheels is getting into high double digit and will surely give its impact on the financial performance of the company in Q4 March 2017, it added.

From its closing of Rs 551.50 on 26 December 2016, SSWL stock has galloped 24.65% in eight straight trading sessions to its ruling market price.

Net profit of Steel Strips Wheels rose 19.9% to Rs 18.02 crore on 2.8% decline in net sales to Rs 290.95 crore in Q2 September 2016 over Q2 September 2015.

Steel Strips Wheels designs and manufactures automotive steel wheels and is among the leading supplier to Indian and global automobile manufacturers.

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Insilco nudges higher after restarting plant operations
Jan 05,2017

The announcement was made during market hours today, 5 January 2017.

Meanwhile, the BSE Sensex was up 241.96 points, or 0.91%, to 26,875.09.

On the BSE, 2,188 shares were traded in the counter so far, compared with an average volume of 28,464 shares in the past one quarter. The stock had hit a high of Rs 27.65 and a low of Rs 26.50 so far during the day.

Insilco had said on 2 January 2017 that the plant will continue to remain shut down due to high inventory & low sales volume & will restart in the evening of 4 January 2017. On 19 December 2016, the company had said that the plant will be shut down from 19 December 2016 to 2 January 2017 due to high inventory and low sales volume.

Insilco is one of the leading producers of precipitated silica in South Asia.

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Ugar Sugar Works jumps 32.82% in eight sessions
Jan 05,2017

Meanwhile, the S&P BSE Sensex was up 208.74 points or 0.79% at 26,844.51.

On the BSE, 8,829 shares were traded on the counter so far as against the average daily volumes of 1.52 lakh shares in the past one quarter. The stock was locked at a high of Rs 30.55 so far during the day. The stock had hit a record high of Rs 73.10 on 1 August 2016 and a 52-week low of Rs 10.90 on 12 February 2016.

The stock had outperformed the market over the past one month till 4 January 2017, gaining 12.14% compared with Sensexs 1.53% gains. The stock had, however, underperformed the market in past one quarter, declining 35.33% as against Sensexs 6% decline.

The small-cap company has equity capital of Rs 11.25 crore. Face value per share is Re 1.

Shares of Ugar Sugar Works has surged 32.82% in eight sessions from a recent close of Rs 23 on 26 December 2016, to its current ruling price.

Sugar stocks had witnessed rally recently on hopes of an increase in mills profitability, following indications of a debt recast by the Ministry of Finance. This would help mills generate profits in the next few quarters on elevated sugar price levels. Debt recast would further lower interest outgo for mills, resulting in an increase in their profits.

Meanwhile, domestic sugar consumption is reportedly likely to outpace production for the second successive year in sugar season ending September 2017, given the lower sugar production in the major states of Maharashtra and Karnataka. While this decline will be offset to some extent by increased sugar production from Uttar Pradesh.

Ugar Sugar Works reported net loss of Rs 25.88 crore in Q2 September 2016 compared with net profit of Rs 29.81 crore in Q2 September 2015. Net sales rose 32.3% to Rs 123.06 crore in Q2 September 2016 over Q2 September 2015.

Ugar Sugar Works is the flagship organization of the Shirgaokar Group of companies. The company has been involved in the manufacture of white crystal sugar for over 75 years.

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Lypsa Gems shines on new order, extends recent rally
Jan 05,2017

The announcement was made during market hours today, 5 January 2017.

Meanwhile, the S&P BSE Sensex was up 207.73 points or 0.78% at 26,840.86.

On the BSE, 74,000 shares were traded on the counter so far as against the average daily volumes of 50,962 shares in the past one quarter. The stock had hit a high of Rs 65 and a low of Rs 61.50 so far during the day.

The stock had hit a record high of Rs 154.50 on 6 January 2016 and a record low of Rs 49 on 30 November 2016. It had outperformed the market over the past one month till 4 January 2017, surging 20.58% compared with the Sensexs 1.53% rise. The scrip had also outperformed the market in past one quarter, advancing 10.2% as against the Sensexs 6% fall.

The small-cap company has equity capital of Rs 21.06 crore. Face value per share is Rs 10.

The latest order was secured from customers based out of UAE. This order will be executed over a 9-month period.

Following the revival of demand in the diamond industry, Lypsa is seeing an uptrend in demand from its customers both in India and overseas as well.

Director of Lypsa Gems, Jeeyan Patwa said, the company is looking to further strengthen its presence in the international markets across the loose diamonds and jewellery segments. Lypsa is on track to achieve its vision of profitable growth not only in the international market but also the domestic markets and is targeting to become a debt free company soon, Patwa said.

Meanwhile, shares of Lypsa Gems are on a rising trend. The stock has risen 18.6% in seven straight trading sessions at its ruling market price, from its close of Rs 52.95 on 27 December 2016.

The company had last month announced securing an order worth Rs 17.7 crore for diamonds and diamond-studded jewellery.

On a consolidated basis, Lypsa Gems & Jewellerys net profit fell 24.5% to Rs 4.58 crore on 55.5% decline in net sales to Rs 64.11 crore in Q2 September 2016 over Q2 September 2015.

Lypsa Gems & Jewellery is a wholly owned integrated diamond company sourcing rough diamonds from the major diamond mines and dealers, cutting and polishing them in its own factories & marketing its product to clients across the globe. It also sells diamond-studded jewellery under the Oropel and Lypsa Atelier brand names.

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Metal stocks in demand after positive economic data in China
Jan 05,2017

Meanwhile, the S&P BSE Sensex was up 261.51 points or 0.98% at 26,894.64.

Hindustan Copper (up 2.65%), JSW Steel (up 6.35%), Hindustan Zinc (up 2.45%), Vedanta (up 4.75%), Steel Authority of India (up 2.97%), Tata Steel (up 4.2%), Hindalco Industries (up 1.98%), Jindal Steel & Power (up 6.11%), Bhushan Steel (up 1.93%) and NMDC (up 0.71%), edged higher. National Aluminium Company declined 0.08%.

The BSE Metal index had underperformed the market over the past one month till 4 January 2017, falling 0.43% compared with Sensexs 1.53% gains. The stock had, however, outperformed the market in past one quarter, gaining 2.49% as against Sensexs 6% decline.

Activity in Chinas service sector expanded at a faster pace in December, a private gauge showed today, 5 January 2017, adding to recent signs of firmness in Chinas economy. The Caixin China services purchasing managers index rose to 53.4 in December from 53.1 in November, Caixin Media Co. and research firm Markit said. A reading above 50 indicates a month-to-month expansion, while a reading below that points to a contraction.

The rise in the private gauge came despite a decline in an official measure of activity outside the factory sector. Chinas official nonmanufacturing PMI, which includes the construction sector, edged down to 54.5 in December from 54.7 in November, the National Bureau of Statistics said last weekend.

China is the worlds largest consumer of steel, copper and aluminum.

Meanwhile, Hong Kongs PMI moved back into growth territory for the first time in nearly two years in December.

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Strong rally in BGR Energy comes to halt on profit booking
Jan 05,2017

Meanwhile, the S&P BSE Sensex was up 225.36 points or 0.85% at 26,858.49.

On the BSE, 63,000 shares were traded on the counter so far as against the average daily volumes of 43,694 shares in the past one quarter. The stock had hit a high of Rs 126.85 and a low of Rs 122.95 so far during the day.

The stock had hit a 52-week high of Rs 138.80 on 6 January 2016 and a 52-week low of Rs 89.40 on 12 February 2016. It had outperformed the market over the past one month till 4 January 2017, surging 11.27% compared with the Sensexs 1.53% rise. The scrip had also outperformed the market in past one quarter, advancing 10.92% as against the Sensexs 6% fall.

The small-cap company has equity capital of Rs 72.16 crore. Face value per share is Rs 10.

Shares of BGR Energy Systems rallied 16.97% in preceding seven straight trading sessions to settle at Rs 125.40 yesterday, 4 January 2017, from its close of Rs 107.20 on 26 December 2016. The stock had settled higher by surging 6.32% in a single trading session yesterday, 4 January 2017, after the company during market hours announced that it has recently won two large value contracts aggregating to Rs 650 crore for water treatment projects.

The company had in November 2016 announced receiving a letter of award from Neyveli Uttar Pradesh (NUPPL) for balance of plant (BoP) contract for the 3 x 660 megawatts (MW) super critical Ghatampur thermal power project, Uttar Pradesh. The total lump sum price of this contract was Rs 2788.60 crore.

BGR Energy Systems order book now stands at Rs 10425 crore.

BGR Energy Systems net profit rose 35.4% to Rs 10.70 crore on 0.4% decline in net sales to Rs 824.66 crore in Q2 September 2016 over Q2 September 2015.

BGR Energy Systems is a leading engineering, procurement and construction (EPC) and balance of plant (BoP) engineering and contracting company for power projects in India.

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Volumes jump at NRB Bearings counter
Jan 05,2017

NRB Bearings clocked volume of 5.01 lakh shares by 13:17 IST on BSE, a 246.24-times surge over two-week average daily volume of 2,000 shares. The stock surged 4.72% at Rs 112.

Carborundum Universal notched up volume of 4.07 lakh shares, a 63.31-fold surge over two-week average daily volume of 6,000 shares. The stock rose 1.33% at Rs 254.50.

MBL Infrastructures saw volume of 16.66 lakh shares, a 30.54-fold surge over two-week average daily volume of 55,000 shares. The stock was locked at 5% upper circuit at Rs 38.25.

Supreme Industries clocked volume of 60,000 shares, a 28.49-fold surge over two-week average daily volume of 2,000 shares. The stock lost 1.3% at Rs 876.80.

Just Dial saw volume of 8.64 lakh shares, a 7.1-fold rise over two-week average daily volume of 1.22 lakh shares. The stock jumped 12.63% at Rs 386.55.

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Just Dial leads gainers in A group
Jan 05,2017

Just Dial jumped 11.13% to Rs 381.40 at 12:35 IST. The stock topped the gainers in the BSEs A group. On the BSE, 7.62 lakh shares were traded on the counter so far as against the average daily volumes of 1.22 lakh shares in the past two weeks.

Jindal Steel & Power rose 6.39% to Rs 75.80. The stock was the second biggest gainer in A group. On the BSE, 9.98 lakh shares were traded on the counter so far as against the average daily volumes of 10.75 lakh shares in the past two weeks.

JSW Steel gained 6.32% at Rs 173.30. The stock was the third biggest gainer in A group. On the BSE, 3.91 lakh shares were traded on the counter so far as against the average daily volumes of 61,000 shares in the past two weeks.

Unitech surged 6.29% at Rs 4.73. The stock was the fourth biggest gainer in A group. On the BSE, 54.05 lakh shares were traded on the counter so far as against the average daily volumes of 49.68 lakh shares in the past two weeks.

PTC India jumped 5.82% to Rs 78.20. The stock was the fifth biggest gainer in A group. On the BSE, 4.96 lakh shares were traded on the counter so far as against the average daily volumes of 75,000 shares in the past two weeks.

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Dena Bank gains on fund raising plan
Jan 05,2017

The announcement was made after market hours yesterday, 4 January 2017.

Meanwhile, the S&P BSE Sensex was up 213.91 points or 0.8% at 26,847.04.

On the BSE, 64,000 shares were traded on the counter so far as against the average daily volumes of 1.13 lakh shares in the past one quarter. The stock had hit a high of Rs 34.45 and a low of Rs 33.90 so far during the day.

The stock had hit a 52-week high of Rs 43.90 on 7 July 2016 and a 52-week low of Rs 25.60 on 26 February 2016. It had underperformed the market over the past one month till 4 January 2017, sliding 2.63% compared with the Sensexs 1.53% rise. The scrip had also underperformed the market in past one quarter, declining 13.82% as against the Sensexs 6% fall.

The small-cap bank has equity capital of Rs 787.15 crore. Face value per share is Rs 10.

Dena Bank reported net loss of Rs 44.32 crore in Q2 September 2016 compared with net profit of Rs 38.76 crore in Q2 September 2015. Total income rose 1.5% to Rs 2914.13 crore in Q2 September 2016 over Q2 September 2015.

The Government of India (GoI) held 68.56% stake in Dena Bank as on 3 October 2016.

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Gravita India edges higher after starting lead metal production from new plant
Jan 05,2017

The announcement was made during market hours today, 5 January 2017.

Meanwhile, the BSE Sensex was up 223.71 points, or 0.84%, to 26,856.84.

On the BSE, 30,858 shares were traded in the counter so far, compared with an average volume of 86,585 shares in the past one quarter. The stock had hit a high of Rs 41.70 and a low of Rs 40.20 so far during the day. The stock had hit a 52-week high of Rs 47.75 on 29 November 2016. The stock had hit a record low of Rs 16 on 24 June 2016.

The stock had underperformed the market over the past one month till 4 January 2017, falling 7.33% compared with Sensexs 1.53% gains. The stock had, however, outperformed the market in past one quarter, gaining 21.68% as against Sensexs 6% decline.

The small-cap company has an equity capital of Rs 13.69 crore. Face value per share is Rs 2.

Gravita India said that the plant is having production capacity of 12,000 metric tonnes per annum. The company will grab the opportunity of domestic scrap available with the large telecom players, UPS batteries from IT offices in and around southern markets by having long term contracts to collect their pan India scrap in cost effective manner and by exporting the finished products using the nearest Chennai port, which will help In reducing logistics cost.

The projected cost of the plant is Rs 25 crore for which around Rs 15.46 crore is funded by way of secured term loan from Punjab National Bank and balance from internal accruals of the company.

The plant will help the company to further strengthen its presence in Southern market and for exports in far East markets.

On a consolidated basis, Gravita Indias consolidated net profit jumped 142.2% to Rs 6.83 crore on 48.3% rise in net sales to Rs 154.18 crore in Q2 September 2016 over Q2 September 2015.

Gravita India is engaged in the business of manufacturing of lead metal by recycling & smelting process.

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