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RS Software (India) gains after making further investment in subsidiary
Dec 30,2016

The announcement was made after market hours yesterday, 29 December 2016.

Meanwhile, the BSE Sensex was up 212.40 points, or 0.81%, to 26,578.55.

On the BSE, so far 86,000 shares were traded in the counter, compared with average daily volumes of 1.77 lakh shares in the past one quarter. The stock had hit a high of Rs 114.40 and a low of Rs 111 so far during the day.

The stock hit a 52-week high of Rs 147 on 31 December 2015. The stock hit a 52-week low of Rs 57.25 on 12 February 2016. The stock had outperformed the market over the past 30 days till 29 December 2016, rising 14.91% compared with the 1.08% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 50.07% as against Sensexs 5.38% decline.

The small-cap company has equity capital of Rs 12.85 crore. Face value per share is Rs 5.

RS Software (India) said that it made further investment in its wholly-owned subsidiary, Paypermint, by acquiring 59 lakh equity shares for Rs 5.90 crore. RS Software (India) holds 75% stake in Paypermint.

On a consolidated basis, R S Software (India) reported net loss of Rs 5.96 crore in Q2 September 2016 as against net profit of Rs 7.62 crore in Q2 September 2015. Net sales declined 76.32% to Rs 15.37 crore in Q2 September 2016 over Q2 September 2015.

RS Software (India) is a vertically integrated technology solution provider to the electronic payments industry operating in four continents with its US headquarters in Silicon Valley, corporate headquarters in Kolkata, India and offices in the United Kingdom and Singapore.

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Board of Mahindra & Mahindra Financial Services to consider Q3 and 9M results
Dec 30,2016

Mahindra & Mahindra Financial Services announced that a Meeting of the Board of Directors of the Company will be held on 24 January 2017, inter alia, to consider and approve the Unaudited Standalone Financial Results of the Company and the Unaudited Consolidated Financial Results for the third quarter and nine months ending 31 December 2016.

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Board of Mahindra & Mahindra Financial Services to consider Q3 and 9M results
Dec 30,2016

Mahindra & Mahindra Financial Services announced that a Meeting of the Board of Directors of the Company will be held on 24 January 2017, inter alia, to consider and approve the Unaudited Standalone Financial Results of the Company and the Unaudited Consolidated Financial Results for the third quarter and nine months ending 31 December 2016.

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GE Power India surges after securing new order
Dec 30,2016

The announcement was made before market hours today, 30 December 2016.

Meanwhile, the S&P BSE Sensex was up 185.17 points or 0.7% at 26,551.32.

On the BSE, 1,336 shares were traded on the counter so far as against the average daily volumes of 1,393 shares in the past one quarter. The stock had hit a high of Rs 484.55 and a low of Rs 471 so far during the day.

The stock had hit a 52-week high of Rs 702 on 4 January 2016 and a 52-week low of Rs 440.50 on 21 November 2016. The stock had underperformed the market over the past one month till 29 December 2016, declining 1.98% compared with the Sensexs 0.11% fall. The scrip had also underperformed the market over the past one quarter declining 17.84% as against the Sensexs 5.25% fall.

The mid-cap company has equity capital of Rs 67.23 crore. Face value per share is Rs 10.

GE Power India announced that it has been awarded a contract worth about Rs 271.1 crore by Bharat Heavy Electricals (Bhel) to supply components and services for the supercritical steam generator island packages.

The first package is for 2x800 megawatts (MW) coal-based Uppur thermal power project (contract value about Rs 162.6 crore) and the second package is for 1x800 MW coal-based North Chennai supercritical thermal power project stage-III (contract value about Rs 108.5 crore).

Both the thermal power projects are located in Tamil Nadu. This is in line with the governments focus on upgrading the power infrastructure in the country.

GE Power India reported net loss of Rs 97.10 crore in Q2 September 2016, higher than net loss of Rs 48.02 crore in Q2 September 2015. Net sales declined 9.8% to Rs 477.65 crore in Q2 September 2016 over Q2 September 2015.

GE Power India is engaged in power generation with deep domain expertise to help customers deliver electricity from a wide spectrum of fuel sources.

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Board of Neelamalai Agro Industries to consider routine matters
Dec 30,2016

Neelamalai Agro Industries announced that a meeting of the Board of Directors of the Company will be held on 09 January 2017 for routine matters.

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Two More Advance Pricing Agreements signed by the Central Board of Direct Taxes
Dec 30,2016

The Central Board of Direct Taxes (CBDT) has closed the year 2016 by entering into two more unilateral Advance Pricing Agreements (APAs).

The APA Scheme was introduced in the Income-tax Act in 2012 and the n++Rollbackn++ provisions were introduced in 2014. The scheme endeavours to provide certainty to taxpayers in the domain of transfer pricing by specifying the methods of pricing and setting the prices of international transactions in advance. Since its inception, the APA scheme has evinced a lot of interest from taxpayers and that has resulted in more than 700 applications (both unilateral and bilateral) being filed in just four years.

The two APAs signed today pertain to the Information Technology and Automobile sectors. The international transactions covered in these agreements include Software Development Services, IT enabled Services, Manufacturing and Business Support Services.

With this, the total number of APAs entered into by the CBDT has reached 117. This includes 7 bilateral APAs and 110 Unilateral APAs. In the current financial year, a total of 53 APAs (4 bilateral APAs and 49 unilateral APAs) have already been entered into. The CBDT expects more APAs to be concluded and signed in the near future.

The progress of the APA Scheme strengthens the Governments resolve of fostering a non-adversarial tax regime. The Indian APA programme has been appreciated nationally and internationally for being able to address complex transfer pricing issues in a fair and transparent manner. The approach and functioning of the officers in the APA teams have been appreciated and acknowledged by the industry in India and abroad.

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Berger Paints moves north after rejig in promoter holding
Dec 30,2016

Meanwhile, the S&P BSE Sensex was up 196.51 points or 0.75% at 26,562.66.

On the BSE, 12,000 shares were traded on the counter so far as against the average daily volumes of 85,698 shares in the past one quarter. The stock had hit a high of Rs 214.40 and a low of Rs 210 so far during the day.

The stock had hit a record high of Rs 276.80 on 12 September 2016 and a 52-week low of Rs 157.25 on 29 February 2016. It had underperformed the market over the past one month till 29 December 2016, sliding 13.16% compared with the Sensexs 0.11% fall. The scrip had also underperformed the market in past one quarter, declining 18.5% as against the Sensexs 5.25% fall.

The large-cap company has equity capital of Rs 97.10 crore. Face value per share is Rs 1.

Kuldip Singh Dhingra sold 5 lakh shares of Berger Paints India at Rs 208 per share in a block deal on the NSE yesterday, 29 December 2016. Vinu Dhingra offloaded 5 lakh shares at Rs 208 a piece. U K Paints India bought these entire 10 lakh shares.

Kuldip Singh Dhingra held 0.7% stake, Vinu Dhingra owned 0.83% and U K Paints India held 48.67% stake in Berger Paints India end September 2016.

On a consolidated basis, Berger Paints Indias net profit rose 55.4% to Rs 138.78 crore on 7.5% growth in net sales to Rs 1142.14 crore in Q2 September 2016 over Q2 September 2015.

Berger Paints India manufactures and markets a range of decorative and industrial paint products and has operations throughout India.

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IFCI corrects on profit booking
Dec 30,2016

Meanwhile, the BSE Sensex was up 200.79 points, or 0.76%, to 26,566.94.

On the BSE, so far 12.07 lakh shares were traded in the counter, compared with average daily volumes of 11.75 lakh shares in the past one quarter. The stock had hit a high of Rs 28.45 and a low of Rs 27 so far during the day.

The stock hit a 52-week high of Rs 30.85 on 23 September 2016. The stock hit a 52-week low of Rs 19.50 on 12 February 2016. The stock had outperformed the market over the past 30 days till 29 December 2016, rising 20.17% compared with the 1.08% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 6.26% as against Sensexs 5.38% decline.

The mid-cap company has equity capital of Rs 1662.04 crore. Face value per share is Rs 10.

Shares of IFCI surged 13.36% to settle at Rs 28 after media reported that the National Stock Exchange of India (NSE) filed a draft red herring prospectus (DRHP) for an initial public offering (IPO) with the market regulator on Thursday, 29 December 2016.

As on 24 November 2016, IFCI held 3.05% stake in NSE. IFCI announced after market hours yesterday, 29 December 2016, that it has offered to offload 25% of its 3.05% stake (3.43 lakh equity shares) (pre-split) through IPO of NSE. This disclosure is being given on filing of the DRHP by NSE with Securities and Exchange Board of India (Sebi), IFCI said in a statement.

IFCIs net profit dropped 91.9% to Rs 14.86 crore on 28.2% fall in operating income to Rs 800.61 crore in Q2 September 2016 over Q2 September 2015.

IFCI is a financial institution catering to the long-term finance needs of the industrial sector.

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Maharashtra Scooters to announce Q3 and 9M results
Dec 30,2016

Maharashtra Scooters announced that a meeting of the Board of Directors of the Company is scheduled to be held on 24 January 2017, inter-alia, to consider and approve the unaudited financial results for the quarter and nine-months ending on 31 December 2016.

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State Bank of Travancore revises MCLR rates
Dec 30,2016

State Bank of Travancore announced change in MCLR rates with effect from 01 January 2016.

Overnight - 8.60%
One month - 8.80%

Three month - 8.90%

Six month - 9.05%
One year - 9.20%
Two year - 9.25%
Three year - 9.30%.

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Calcom Vision announces cessation of nominee director of BIFR
Dec 30,2016

Calcom Vision announced that, pursuant to an intimation received by the Company on 24 December 2016 from Honble Board for Industrial and Financial Reconstruction (BIFR), Shiv Nath Chopra has ceased to be Nominee Director of BIFR on the Board of Directors of the Company with effect from 01 December 2016 consequent to winding up of BIFR with effect from the said date.

The Board of Directors of the Company took note of the same vide a resolution passed through circulation on 29 December 2016.

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Artson Engineering announces cessation of director
Dec 30,2016

Artson Engineering announced that pursuant to the notification dated 25 November 2016 issued by the Ministry of Finance, Government of India, The Sick Industrial Companies (Special Provisions), Act, 1985 was repealed with effect from 01 December 2016.

Further, pursuant to the provisions of Section 4(a)(ii) of The Sick Industrial Companies (Special Provisions) Repeal Act, 20013, the office of Mukesh Mohan Gupta, Special Director appointed by the BIFR on the Board of Artson Engineering stands vacated and he ceases to be a Director of the Company effective 01 December 2016.

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Crisis management plan imperative to counter cybercrime threats in India: ASSOCHAM-PwC study
Dec 30,2016

Considering that Indian cyberspace is vulnerable to cyber crime, the country must formulate a crisis management plan to tackle cyber attacks, cyber terrorism and cyber espionage attempts, noted a recent ASSOCHAM-PwC joint study.

n++It is imperative for law enforcement agencies to have a system which will have a collaborative framework for receiving video feeds on a need basis from closed-circuit television (CCTV) surveillance systems and subsystems,n++ highlighted an ASSOCHAM-PwC joint study titled Safe cities: Collaborative monitoring - For the community, by the community.

Leveraging the capabilities of a good video management system (VMS), when clubbed with video analytics, will also allow efficient access to these external camera feeds at the command and control centre.

n++Collaborative monitoring of video feeds not only facilitates greater coverage of video surveillance within the city but also serves as deterrence for crimes and assists law enforcement agencies in controlling incident escalation, crime detection and its investigation,n++ said the study.

Collaborative monitoring is a unique tool, wherein the security and law enforcement agency takes advantage of the extensive network of surveillance cameras deployed by communities across the city as well as the cameras of other private and government establishments on a need basis.

It is an extremely prudent enabler for police department, as while they strengthen their bond with the communities, they can use any information or footage gathered from these security cameras to support investigation and the prosecution of criminals.

The advantage provided by leveraging the extensive network of external cameras ensures enhanced crime monitoring through a cost-effective, widespread and scalable model.

However, while implementing the collaborative monitoring framework there is a need to carefully manage certain risks like conflict with existing laws and regulatory proposals, lack of awareness within communities, funding related issues, privacy and anonymity related issues and others to garner maximum fruits out of such initiatives.

Showcasing the examples of the impact of collaborative surveillance, the study highlighted that crime graph in Hyderabad came down by 14 per cent in 2015 compared to that in previous year. While UK based Scotland Yard security agency used CCTV footage as evidence in 95 per cent of murder cases.

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Godrej Properties gains after adding new residential project in Pune
Dec 30,2016

The announcement was made before market hours today, 30 December 2016.

Meanwhile, the BSE Sensex was up 171.81 points, or 0.65%, to 26,537.96.

On the BSE, so far 512 shares were traded in the counter, compared with average daily volumes of 32,965 shares in the past one quarter. The stock had hit a high of Rs 308.50 and a low of Rs 306.60 so far during the day.

The stock hit a 52-week high of Rs 386 on 9 August 2016. The stock hit a 52-week low of Rs 266.40 on 29 February 2016. The stock had outperformed the market over the past 30 days till 29 December 2016, rising 1.20% compared with the 1.08% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 12.15% as against Sensexs 5.38% decline.

The mid-cap company has equity capital of Rs 108.18 crore. Face value per share is Rs 5.

Godrej Properties (GPL) announced that it has entered into a partnership to develop a residential group housing project in the prime locality of Bavdhan, West Pune. Spread over 5.5 acres, the project will offer approximately 52,000 square metres (560,000 square feet) of saleable area and will be developed as a modem residential development comprising of apartments of various configurations.

The site is strategically located just off the Mumbai-Bangalore bypass and very close to the prime residential micro market of Kothrud. It is situated on main Paud road within PMC limits and is well connected to Hinjewadi IT Park. This project will be developed under the profit share arrangement.

On a consolidated basis, net profit of Godrej Properties declined 77.40% to Rs 23.48 crore on 76.59% decline in net sales to Rs 305.60 crore in Q2 September 2016 over Q2 September 2015.

Godrej Properties is a real estate developer. It is currently developing residential, commercial and township projects spread across approximately 11.98 million square meters (129.56 million square feet) in 12 cities.

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Jagran Prakashan gains on buyback proposal
Dec 30,2016

The announcement was made after market hours yesterday, 29 December 2016.

Meanwhile, the S&P BSE Sensex was up 147.71 points or 0.56% at 26,513.86.

On the BSE, 19,000 shares were traded on the counter so far as against the average daily volumes of 40,230 shares in the past one quarter. The stock had hit a high of Rs 184.65 and a low of Rs 177.70 so far during the day.

The stock had hit a record high of Rs 213 on 8 September 2016 and a 52-week low of Rs 144 on 18 March 2016. It had outperformed the market over the past one month till 29 December 2016, advancing 0.99% compared with the Sensexs 0.11% fall. The scrip had, however, underperformed the market in past one quarter, declining 5.29% as against the Sensexs 5.25% fall.

The mid-cap company has equity capital of Rs 65.38 crore. Face value per share is Rs 2.

Jagran Prakashans net profit rose 14.2% to Rs 75.46 crore on 6.6% growth in net sales to Rs 447.59 crore in Q2 September 2016 over Q2 September 2015.

Jagran Prakashan is a leading media and communications group with interests spanning across newspapers, radio, magazines, outdoor advertising, promotional marketing & event management, and digital businesses.

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