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Reliance Defence gains after signing sub-concession agreement with Gujarat Maritime Board
Jul 22,2016

The announcement was made during market hours today, 22 July 2016.

Meanwhile, the S&P BSE Sensex was up 76.15 points or 0.27% at 27,785.52.

On BSE, so far 4.65 lakh shares were traded in the counter as against average daily volume of 4.88 lakh shares in the past one quarter. The stock hit high of Rs 66.90 and low of Rs 63.80 so far during the day. The stock had underperformed the market over the past one month till 21 July 2016, falling 2.29% compared with Sensexs 3.35% rise. The scrip had also underperformed the market in past one quarter, dropping 5.12% as against Sensexs 7.07% rise.

The mid-cap company has equity capital of Rs 736.21 crore. Face value per share is Rs 10.

Reliance Defence & Engineering said that the sub-concession agreement (SCA) is for a period of 30 years expiring in June 2046. The term of SCA may be further extended. The SCA grants sub-concession, right and authority to Reliance Defence & Engineering to build, operate and manage defence/commercial shipyard activities on the terms and conditions mentioned therein.

Reliance Defence & Engineering formerly Pipavav Defence and Offshore Engineering Company is into building defence warships.

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Airline stocks gain as crude oil prices drop
Jul 22,2016

Meanwhile, the S&P BSE Sensex was up 86.16 points or 0.31% at 27,788.84.

Jet Airways India (up 1.95%), SpiceJet (up 0.72%) and InterGlobe Aviation (up 0.8%) edged higher.

Lower crude oil prices benefit aviation firms as jet fuel prices, which typically constitute about 50% of airlines operating costs, are directly linked to international crude oil prices.

In the global commodities markets, crude oil prices dropped as investors reassessed US data underlining the glut in petroleum, while Iraqi crude exports are also on the rise. Brent futures for September settlement were currently down 23 cents at $45.97 a barrel. The contract had fallen 97 cents or 2.06% to settle at $46.20 a barrel during the previous trading session.

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Chemfab Alkalis hits record high after stellar Q1 results
Jul 22,2016

The result was announced after market hours yesterday, 21 July 2016.

Meanwhile, the S&P BSE Sensex was up 69.49 points or 0.25% at 27,780.01.

On BSE, so far 53,000 shares were traded in the counter as against average daily volume of 22,635 shares in the past one quarter. The stocks current price of Rs 207.95 so far during the day, which is a record high for the counter. The stock hit a low of Rs 205 so far during the day. The stock had hit a 52-week low of Rs 65.75 on 25 February 2016. The stock had outperformed the market over the past one month till 21 July 2016, surging 60.89% compared with Sensexs 3.35% rise. The scrip had also outperformed the market in past one quarter, advancing 123.07% as against Sensexs 7.07% rise.

The small-cap company has equity capital of Rs 4.59 crore. Face value per share is Rs 5.

Chemfab Alkalis is engaged in manufacturing inorganic chemicals. The company offers chlor alkali and related products/services.

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Strong Q1 earnings boost IFB Inds
Jul 22,2016

The result was announced after market hours yesterday, 21 July 2016.

Meanwhile, the S&P BSE Sensex was up 57.24 points or 0.21% at 27,767.76.

On BSE, so far 7,604 shares were traded in the counter as against average daily volume of 12,196 shares in the past one quarter. The stock hit a high of Rs 397.65 and a low of Rs 381.50 so far during the day. The stock had hit a 52-week high of Rs 600 on 7 August 2015. The stock had hit a 52-week low of Rs 281 on 25 February 2016. The stock had outperformed the market over the past one month till 21 July 2016, surging 12.31% compared with Sensexs 3.35% rise. The scrip had, however, underperformed the market in past one quarter, declining 1.46% as against Sensexs 7.07% rise.

The small-cap company has equity capital of Rs 40.52 crore. Face value per share is Rs 10.

IFB Industries is engaged in the business of manufacturing and trading of home appliances and fine blanking components.

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PowerGrid gains after board approval for eleven investment proposals
Jul 22,2016

The announcement was made after market hours yesterday, 21 July 2016.

Meanwhile, the S&P BSE Sensex was up 38.34 points or 0.14% at 27,748.86.

On BSE, so far 58,210 shares were traded in the counter as against average daily volume of 3.37 lakh shares in the past one quarter. The stock hit a high of Rs 167.35 and a low of Rs 163.20 so far during the day. The stock hit a record high of Rs 171 on 11 July 2016. The stock hit a 52-week low of Rs 120.75 on 10 September 2015. The stock had outperformed the market over the past one month till 21 July 2016, gaining 4.56% compared with Sensexs 3.35% rise. The scrip had also outperformed the market in past one quarter, advancing 11.55% as against Sensexs 7.07% rise.

PowerGrid Corporation of Indias net profit rose 13.2% to Rs 1599.05 crore on 23.4% rise in net sales to Rs 5753.61 crore in Q4 March 2016 over Q4 March 2015.

PowerGrid Corporation of India is a public sector power distribution company. As per the shareholding pattern, Government of India holds 57.9% stake in the firm as at 30 June 2016.

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Power Grid gains after board approval for eleven investment proposals
Jul 22,2016

The announcement was made after market hours yesterday, 21 July 2016.

Meanwhile, the S&P BSE Sensex was up 38.34 points or 0.14% at 27,748.86.

On BSE, so far 58,210 shares were traded in the counter as against average daily volume of 3.37 lakh shares in the past one quarter. The stock hit a high of Rs 167.35 and a low of Rs 163.20 so far during the day. The stock hit a record high of Rs 171 on 11 July 2016. The stock hit a 52-week low of Rs 120.75 on 10 September 2015. The stock had outperformed the market over the past one month till 21 July 2016, gaining 4.56% compared with Sensexs 3.35% rise. The scrip had also outperformed the market in past one quarter, advancing 11.55% as against Sensexs 7.07% rise.

Power Grid Corporation of Indias net profit rose 13.2% to Rs 1599.05 crore on 23.4% rise in net sales to Rs 5753.61 crore in Q4 March 2016 over Q4 March 2015.

Power Grid Corporation of India is a public sector power distribution company. As per the shareholding pattern, Government of India holds 57.9% stake in the firm as at 30 June 2016.

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Bharat Financial Inclusion surges on robust Q1 results
Jul 22,2016

The result was announced during market hours today, 22 July 2016.

Meanwhile, the S&P BSE Sensex was down 18.48 points or 0.07% at 27,692.04.

More than usual volumes were traded on the counter. On BSE, so far 6.67 lakh shares were traded in the counter, compared with an average volume of 1.7 lakh shares in the past one quarter. The stock hit a high of Rs 825.80, which was also a 52-week high for the stock. The stock hit a low of Rs 776.10 so far during the day. The stock hit a 52-week low of Rs 369.45 on 18 September 2015. The stock had outperformed the market over the past one month till 21 July 2016, gaining 9.38% compared with Sensexs 3.35% rise. The scrip had also outperformed the market in past one quarter, advancing 32.45% as against Sensexs 7.07% rise.

The mid-cap company has an equity capital of Rs 127.55 crore. Face value per share is Rs 10.

Bharat Financial Inclusion announced that its gross loan portfolio excluding the states of Andhra Pradesh and Telangana registered a 10% sequential and a 76% yearly growth to Rs 8463 crore in Q1 June 2016. Bharat Financial Inclusion continues to maintain its lead as the most efficient microfinance institution (MFI) in the world, post its distinction in November 2015 of becoming the first private sector MFI inthe world to charge a sub-20% interest rate 19.75% which is the lowest interest rate to date. The companys marginal cost of borrowing continues to be at sub-10% level in Q1 June 2016. Its weighted average cost of borrowing further reduced to 10.7% in Q1 June 2016 from 11.1% in Q4 March 2016 and 11.9% in Q1 June 2015.

Loan disbursements increased by 59% to Rs 3769 crore in Q1 June 2016 over Q1 June 2015. During the quarter, Bharat Financial Inclusion had incremental drawdowns of Rs 1096 crore excluding origination under managed loans. The company also originated Rs 303 crore worth of loans under managed portfolio in Q1 June 2016. The quarter also witnessed completion of securitization transactions worth Rs 214 crore rated as AA (SO) The company also recognized a MAT credit of Rs 97 crore as on 31 March 2016, which translates into a net profit of Rs 236 crore in Q1 June 2016.

The company has an un-availed deferred tax benefit of Rs 308 crore which will be available to offset tax on future taxable income.

Bharat Financial Inclusion formerly SKS Microfinance is among the largest microfinance companies in India. The companys mission is to provide financial services to the economically weaker sections.

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Raymond tumbles after announcing weak Q1 numbers
Jul 22,2016

The result was announced after market hours yesterday, 21 July 2016.

Meanwhile, the S&P BSE Sensex was up 33.62 points or 0.12% at 27,744.14.

On BSE, so far 36,000 shares were traded in the counter as against average daily volume of 35,021 shares in the past one quarter. The stock hit a high of Rs 482.80 and a low of Rs 465.40 so far during the day. The stock had hit a 52-week low of Rs 351.50 on 12 February 2016. The stock had hit a 52-week high of Rs 495 on 21 July 2016. The stock had underperformed the market over the past one month till 21 July 2016, advancing 2.25% compared with Sensexs 3.35% rise. The scrip had, however, outperformed the market in past one quarter, surging 23.1% as against Sensexs 7.07% rise.

The mid-cap company has equity capital of Rs 61.38 crore. Face value per share is Rs 10.

Raymonds net sales rose 4.8% to Rs 1057.36 crore in Q1 June 2016 over Q1 June 2015.

Raymond said that the demand scenario is weak and expected to pick up in coming months in light of good monsoon, seventh pay commission payouts and festive season.

The company continues to focus on fundamentals through product innovations, expansion and modernisation of retail network, improving customer engagement by further strengthening loyalty program and innovative, cluster-breaking advertising & digital initiatives.

Raymond offers end-to-end solutions for fabrics and garmenting.

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ADF Foods jumps on share buyback proposal
Jul 22,2016

The announcement was made after market hours yesterday, 21 July 2016.

Meanwhile, the S&P BSE Sensex was down 23.39 points or 0.08% at 27,687.13.

On BSE, so far 1.70 lakh shares were traded in the counter as against average daily volume of 26,115 shares in the past one quarter. The stock hit a high of Rs 101.80 and a low of Rs 96.95 so far during the day. The stock had hit a 52-week high of Rs 104.15 on 1 December 2015. The stock had hit a 52-week low of Rs 63.60 on 17 February 2016. The stock had underperformed the market over the past one month till 21 July 2016, sliding 0.16% compared with Sensexs 3.35% rise. The scrip had, however, outperformed the market in past one quarter, surging 9.99% as against Sensexs 7.07% rise.

The small-cap company has equity capital of Rs 22 crore. Face value per share is Rs 10.

On consolidated basis, ADF Foods net profit rose 119.5% to Rs 1.80 crore on 1.3% decline in net sales to Rs 53.57 crore in Q4 March 2016 over Q4 March 2015.

ADF Foods is engaged in the business of manufacturing and trading of various processed and preserved foods.

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Biocon jumps after posting strong Q1 results
Jul 22,2016

The result was announced after trading hours yesterday, 21 July 2016.

Meanwhile, the S&P BSE Sensex was down 50 points or 0.18% at 27,661.58.

High volume was witnessed on the counter. On BSE, so far 2.73 shares were traded in the counter as against average daily volume of 90,364 shares in the past one quarter. The stock hit a high of Rs 749 and a low of Rs 712 so far during the day. The stock had hit a record high of Rs 766 on 30 June 2016. The stock had hit a 52-week low of Rs 396.50 on 25 August 2015. The stock had underperformed the market over the past one month till 21 July 2016, falling 3.13% compared with Sensexs 3.35% rise. The scrip had, however, outperformed the market in past one quarter, advancing 27.42% as against Sensexs 7.07% rise.

The large-cap company has equity capital of Rs 100 crore. Face value per share is Rs 5.

Biocon said that revenue rose led by all-round growth of its business verticals viz. small molecules, biologics, branded formulations and Syngene, which represents research services business. The research services business through Syngene reported a robust revenue growth of 18% at Rs 263 crore in Q1 June 2016 over Q1 June 2015, driven by a strong performance across its three verticals-dedicated R&D centers, discovery services and development & manufacturing services. The positive growth and outlook positions Syngene for a strong performance in the year ending 31 March 2017 (FY 2017).

Separately, Mylan N.V. and Biocon announced yesterday, 21 July 2016 that the European Medicines Agency (EMA) has accepted for review, Mylans Marketing Authorization Application (MAA) for the proposed biosimilar Pegfilgrastim, which is used to reduce the duration of neutropenia and the incidence of febrile neutropenia in adult patients treated with cytotoxic chemotherapy for malignancy (with the exception of chronic myeloid leukaemia and myelodysplastic syndromes).

Mylan, a global pharmaceutical company and Biocon, who have co-developed the proposed biosimilar, received EMAs acceptance of the submission for review. In addition to analytical, functional and pre-clinical data, the application includes clinical data from pivotal Pharmacokinetic/Pharmacodynamic (PK/PD) and confirmatory efficacy, safety and immunogenicity studies completed earlier in 2016. The results from the studies are expected to be presented at the prestigious European Society of Medical Oncology (ESMO) Annual Congress to be held in Copenhagen in October 2016.

Pegfilgrastim is prescribed for cancer patients to help them with some of the side-effects of their treatment.

Biocon and Mylan are exclusive partners on a broad portfolio of biosimilars and generic insulin analogs. The proposed biosimilar Pegfilgrastim is one of the six biologic products co-developed by Mylan and Biocon for the global marketplace. Mylan has exclusive commercialization rights for the proposed biosimilar Pegfilgrastim in the US, Canada, Japan, Australia, New Zealand and in the European Union and European Free Trade Association countries. Biocon has co-exclusive commercialization rights with Mylan for the product in the rest of the world.

Biocon is Indias largest and fully-integrated, innovation-led biopharmaceutical company.

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Star Ferro surges as Sundaram MF purchases bulk shares
Jul 22,2016

Meanwhile, the S&P BSE Sensex was down 7.59 points or 0.03% at 27,702.93.

On BSE, so far 73,000 shares were traded in the counter as against average daily volume of 7,554 shares in the past one quarter. The stock hit a high of Rs 118.70 and a low of Rs 111 so far during the day. The stock had hit a 52-week high of Rs 170 on 23 July 2015. The stock had hit a 52-week low of Rs 96 on 12 February 2016. The stock had underperformed the market over the past one month till 21 July 2016, sliding 0.63% compared with Sensexs 3.35% rise. The scrip had also underperformed the market in past one quarter, declining 10.95% as against Sensexs 7.07% rise.

The small-cap company has equity capital of Rs 22.22 crore. Face value per share is Rs 1.

Promoter Sajjan Bhajanka sold 15.75 lakh shares of Star Ferro and Cement (Star Ferro) at Rs 103.34 per share on NSE yesterday, 21 July 2016. Another promoter Sanjay Agarwal sold 25.25 lakh shares of the company at Rs 103.28 per share.

Sajjan Bhajanka held 7.48% stake and Sanjay Agarwal 8.77% in Star Ferro as per the shareholding pattern as on 30 June 2016.

On consolidated basis, Star Ferros net profit declined 27.7% to Rs 39.75 crore on 11.2% growth in net sales to Rs 561.65 crore in Q4 March 2016 over Q4 March 2015.

Star Ferro and Cement is engaged in manufacturing of ferro alloys and generation of power.

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Cairn India gains after announcing Q1 results
Jul 22,2016

The result was announced after trading hours yesterday, 21 July 2016.

Meanwhile, the S&P BSE Sensex was down 38.95 points or 0.14% at 27,692.61.

On BSE, so far 2.19 lakh shares were traded in the counter as against average daily volume of 2.92 lakh shares in the past one quarter. The stock hit a high of Rs 179.50 and a low of Rs 174.05 so far during the day. The stock had hit a 52-week high of Rs 184.20 on 23 July 2015. The stock had hit a 52-week low of Rs 106.60 on 19 January 2016. The stock had outperformed the market over the past one month till 21 July 2016, gaining 27.69% compared with Sensexs 3.35% rise. The scrip had also outperformed the market in past one quarter, advancing 17.34% as against Sensexs 7.07% rise.

The large-cap company has equity capital of Rs 1874.86 crore. Face value per share is Rs 10.

Cairn Indias normalised net profit jumped 88% to Rs 360 crore on 10% rise in net revenue to Rs 1885 crore in Q1 June 2016 over Q4 March 2016. Net revenue increased sequentially on account of a significant rise in Brent prices. Net profit rose sequentially driven by higher EBITDA but was partly offset by higher depreciation, depletion and amortization (DD&A) charges and forex losses.

Cairn Indias average price realisation per barrel of oil equivalent (boe) dropped to $38 in Q1 June 2016 compared with $56 in Q1 June 2015.

Mr. Sudhir Mathur, CFO and acting CEO of Cairn India commented on Q1 results that Cairn India delivered a resilient performance, registering 88% increase in profit for the quarter on sequential basis. The company has taken significant measures to drive cost efficiency and rationalize capital investment, resulting in free cash generation in a lower-for-longer oil price environment. The company remains committed to four projects - RDG Gas, Enhance Recovery at Bhagyam & Aishwariya as well as the tight oil projects. Sharp reductions in drilling and fraccing costs coupled with learnings from Mangala EOR has given the confidence that the company will be ready to execute in a $ 50 per barrel world within 12 months, he added.

Cairn India in its outlook for the year ending 31 March 2017 (FY 2017) said that pursuing its goal to create a long term value, Cairn India will remain focused on monetizing its Rajasthan resource base in FY 2017. An estimated net capex spend of $100 million is proposed, 20% of which is for exploration while balance will be invested primarily to develop RDG Gas and for completion activities of Mangala EOR completion. The aim will be to maintain production from Rajasthan asset at FY 2016 level. Efforts are underway to further improve the economics of key projects that includes Bhagyam & Aishwariya EOR, Barmer Hill and Satellite fields, at low oil price and invest in their pre-development activities to ensure project readiness for development with grant of extension of PSC. The company maintains its flexibility to raise capital investment as oil prices improve and aims to generate a healthy cash flow post capex so as to retain the ability to pay dividends.

Cairn India, a part of the Vedanta group, is one of the largest independent oil and gas exploration and production companies in India.

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ITC gains on good Q1 results
Jul 22,2016

The result was announced after trading hours yesterday, 21 July 2016.

Meanwhile, the BSE Sensex was up 36.72 points, or 0.13%, to 27,734.41.

On BSE, so far 1.15 lakh shares were traded in the counter, compared with an average volume of 7.14 lakh shares in the past one quarter. The stock hit a high of Rs 256 and a low of Rs 251.90 so far during the day.

ITC delivered steady performance in Q1 June 2016 despite a challenging operating environment marked by continuing pressure on legal cigarette industry volumes and persistently sluggish demand conditions prevailing in the FMCG industry. Operating conditions in the hotels and paperboards, paper and packaging segment also remained subdued. Revenue from operations rose 8.3% to Rs 13156.68 crore in Q1 June 2016 over Q1 June 2015.

Total Comprehensive Income (TCI) rose 17.6% to Rs 2448.24 crore in Q1 June 2016 over Q1 June 2015. The higher growth in TCI relative to net profit is attributable to a positive swing of Rs 148.34 crore in other comprehensive income primarily on account of favourable movement in fair value of the companys strategic investments in equity.

The performance of the cigarette business during the quarter remained subdued on account of continued pressure on the legal cigarette industry in India. Over the last 4 years, the incidence of excise duty and VAT on cigarettes, at a per unit level, has gone up cumulatively by 118% and 142% respectively thereby exerting severe pressure on legal industry volumes even as illegal trade grows unabated. High incidence of taxation and a discriminatory regulatory regime on cigarettes in India have over the years led to a significant shift in tobacco consumption to lightly taxed or tax-evaded tobacco products like bidi, khaini, chewing tobacco, gutkha and illegal cigarettes which presently constitute over 89% of total tobacco consumption in the country. Besides adversely impacting the performance of the legal cigarette industry, this has led to sub-optimisation of the revenue potential from the tobacco sector.

ITC is a diversified company, with presence in cigarettes, hotels, paperboards & specialty papers, packaging, agri-business, packaged foods & confectionery, information technology, branded apparel, personal care, stationery and other FMCG products. ITC is a market leader in cigarettes.

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Rane Brake Lining hits record high after stellar Q1 results
Jul 21,2016

The result was announced during market hours today, 21 July 2016.

Meanwhile, the S&P BSE Sensex was down 211.09 points or 0.76% at 27,704.80.

On BSE, so far 84,000 shares were traded in the counter as against average daily volume of 1,514 shares in the past one quarter. The stocks current price of Rs 571.05 is also its record high for the counter. The stock hit a low of Rs 462.60 so far during the day. The stock had hit a 52-week low of Rs 266.20 on 3 September 2015.

The small-cap company has equity capital of Rs 7.91 crore. Face value per share is Rs 10.

During the quarter, the company undertook various cost reduction initiatives resulting in favourable material cost and reduced operational cost. The companys better cash generation and internal accruals helped to repay long term loans and significantly reduce finance costs.

Rane Brake Lining manufactures friction material products such as brake linings, disc pads, clutch facings, clutch buttons, brake shoes and railway brake blocks.

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M&M drops ex-dividend
Jul 21,2016

Meanwhile, the S&P BSE Sensex was down 191.44 points or 0.69% at 27,724.45.

On BSE, so far 29,123 shares were traded in the counter as against average daily volume of 92,056 shares in the past one quarter. The stock hit a high of Rs 1,460.10 and a low of Rs 1,437.35 so far during the day.

Before turning ex-dividend, the stock offered a dividend yield of 0.82% based on the closing price of Rs 1,460.50 yesterday, 20 July 2015.

M&Ms net profit rose 6% to Rs 583.73 crore on 14.8% growth in net sales to Rs 10666.43 crore in Q4 March 2016 over Q4 March 2015.

The Mahindra Group enjoys a leadership position in tractors, utility vehicles, information technology, financial services and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two-wheeler industries.

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