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Deepak Nitrite extends falling trend despite Reliance MFs buying
Dec 26,2016

Meanwhile, the S&P BSE Sensex was down 220.40 points or 0.85% at 25,820.30.

On the BSE, 1.10 lakh shares were traded on the counter so far as against the average daily volumes of 59,159 shares in the past one quarter. The stock had hit a high of Rs 87.25 and a low of Rs 75.80 so far during the day.

The stock had hit a record high of Rs 134.25 on 9 September 2016 and a 52-week low of Rs 56.10 on 12 February 2016. It had underperformed the market over the past one month till 23 December 2016, sliding 8.03% compared with the Sensexs 0.04% fall. The scrip had also underperformed the market in past one quarter, declining 30.06% as against the Sensexs 9.17% fall.

The small-cap company has equity capital of Rs 23.26 crore. Face value per share is Rs 2.

Shares of Deepak Nitrite tumbled 15.69% in seven straight trading sessions from its close of Rs 99.10 on 15 December 2016.

On Friday, 23 December 2016, Quest Investment Advisors sold 35.35 lakh shares of Deepak Nitrite at an average price of Rs 85.12 per share in bulk deals on the NSE. Reliance Mutual Fund-Reliance Small Cap Fund bought 35.73 lakh shares at Rs 85.06 a piece. Quest is an investment management services firm.

Deepak Nitrites net profit rose 4.3% to Rs 15.41 crore on 10.6% decline in net sales to Rs 299.07 crore in Q2 September 2016 over Q2 September 2015.

Deepak Nitrite is a multi-division and multi-product company. The companys portfolio is a wide spectrum of products with diverse applications ranging from agrochemicals, rubber, pharmaceuticals, paper, textile, detergent, colourants, petrochemicals to speciality and fine chemicals.

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Lupin receives tentative approval for Olmesartan Medoximil Tablets
Dec 26,2016

Lupin has received tentative approval for its Olmesartan Medoximil Tablets 5mg, 20mg and 40mg from the United States Food and Drug Administration to market generic version of Daiichi Sankyo Incs Benicarn++ Tablets 5mg, 20mg and 40mg.

Olmesartan Medoximil Tablets are indicated for the treatment of hypertension, along or with other antihypertensive agents to lower blood pressure.

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Board of Jainco Projects (India) to conduct business review
Dec 26,2016

Jainco Projects (India) announced that the meeting of Board of Directors of the Company will be held on 30 December 2016, for general discussion on the working of the company and to review the progress of the Company.

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Let FCI, other Govt bodies issue transferrable instruments to farmers to mitigate note ban distress: ASSOCHAM
Dec 26,2016

In order to mitigate the problems of farmers and those engaged in allied activities like poultry farming and horticulture, arising out of the demonetization, the ASSOCHAM has suggested issuance of Transferrable Receipts (TRs) by agencies like the Food Corporation of India (FCI), National Agricultural Cooperative Marketing Federation of India (NAFED) and other Central and state entities against procurement of the farm produce.

n++In the first place, the government should instruct FCI and other central agencies like NAFED to procure a whole lot of farm produce and issue the farmers/growers TRs which should be then honoured at all the farm related stores. These TRs can become some kind of Paytm tools and be then aggregated by one nodal agency; preferably FCI,n++ the ASSOCHAM said.

It said with the help of the state governments, the TRs should be allowed to trade without much hassles, maybe upto a limit of Rs 50,000. Since these instruments are to be originated at the FCI level, it would be easy for the Central Government to guard against its misuse for exchange of scrapped money. In any case, most of the scrapped notes have returned into the banking system and now the problem largely relates to shortage of new currency.

n++Likewise, the TRs can also be issued by some agencies like Tea Board, Fisheries boards, Jute Boards and Rubber Boards and then some of the retail chains can be roped in for honouring the same. It would also work on the model of Sodexo lunch coupons n++, said ASSOCHAM Secretary General Mr D S Rawat.

He said with most of the products being decanlised , even state owned companies like the State Trading Corporation should join the FCI in this operation, while the MMTC which had remained engaged in fertilizer imports can be useful in reaching out to farmers directly or through cooperative stores for supply of urea or other nutrients in exchange of the TRs.

n++We urge the Prime Ministers Office, the Agriculture Ministry, the Finance Ministry, Commerce Ministry and the Reserve Bank of India to work on this model in a matter of few days, along with the state agencies,n++ the chamber said.

It said some of the marginal farmers and growers of horticulture produce are facing the problem of selling their produce with the unscrupulous elements taking advantage of the situation. n++Extra ordinary situation demands extra-ordinary solutions; so this model of TRs should be tried so that the farm distress is mitigated and wide support is forthcoming for the bigger war against black money and corruptionn++, Mr Rawat said.

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Camlin Fine Sciences gains on acquisition plan
Dec 26,2016

The announcement was made after market hours on Friday, 23 December 2016.

Meanwhile, the BSE Sensex was down 209.30 points, or 0.80%, to 25,831.40.

On the BSE, so far 66,000 shares were traded in the counter, compared with average daily volumes of 2.10 lakh shares in the past one quarter. The stock had hit a high of Rs 103.10 and a low of Rs 98.95 so far during the day.

The stock hit a 52-week high of Rs 119.60 on 26 October 2016. The stock hit a 52-week low of Rs 76.10 on 29 February 2016. The stock had underperformed the market over the past 30 days till 23 December 2016, falling 5.85% compared with the 0.70% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 14.27% as against Sensexs 9.17% decline.

The small-cap company has equity capital of Rs 10.33 crore. Face value per share is Re 1.

Camlin Fine Sciences said it entered into share purchase agreement to acquire 51% stake in Chinas Ningbo Wanglong Flavors & Fragrances Company (NWFFCL). The cost of proposed acquisition will be disclosed after the completion of the transaction, it added. The acquisition is subject to Reserve Bank of Indias (RBI) approval and will get completed on or before 30 June 2017.

NWFFCL was incorporated on 20 November 2015 and is a part of proposed joint venture with Wanglong Group Company. Ningbo is engaged in research, development and manufacture of flavours and fragrances products (Vanillin); import and export of goods and technologies.

On a consolidated basis, Camlin Fine Sciences reported net loss of Rs 0.80 crore in Q2 September 2016 as against net profit of Rs 5.06 crore in Q2 September 2015. Net sales declined 3.97% to Rs 109.14 crore in Q2 September 2016 over Q2 September 2015.

Camlin Fine Sciences is a provider of high-quality shelf life extension solutions including antioxidants, aroma ingredients and performance chemicals.

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EPC Industrie to consider December quarter results
Dec 26,2016

EPC Industrie announced that a meeting of the Board of Directors of the Company will be held on 31 January 2017, inter alia, to consider, approve and take on record the Companys Unaudited Financial Results for the quarter ended on 31 December 2016.

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Indosolar to consider September quarter results
Dec 26,2016

Indosolar announced that a meeting of Board of Directors of the Company will be held on 30 December 2016, inter alia, to consider and take on record, Limited Review Report for the quarter and half-year ended 30 September 2016.

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Board of Seven Hill Industries considers change in registered office
Dec 26,2016

Seven Hill Industries announced that Meeting of the Board of Directors of the Company was held on 24 December 2016, inter alia, has considered the following:

- To shift Registered office of the Company from 2103, 21st FLOOR, G SQUARE BUSINESS PARK, SECTOR 30, OPP. SANPADA RAILWAY STATION (W), VASHI, NAVI MUMBAI - 400705, Maharashtra, India To GALA NO. 23, PAREKH MARKET, M.G. ROAD, GHATKOPAR (EAST), MUMBAI - 400077 with immediate effect.

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Aditya Birla Nuvo allots equity shares
Dec 26,2016

Aditya Birla Nuvo has allotted 16,997 equity shares of the face value of Rs. 10 each on 22 December 2016, pursuant to exercise of RSUs under the Companys Employee Stock Option Scheme 2013. All the said Equity Shares will rank pari passu with the existing Equity Shares of the Company, in all respects.

The paid up share capital of the Company will accordingly increase from Rs. 1,30,22,56,910 (13,02,25,691 equity shares of Rs. 10/- each) to Rs. 1,30,24,26,880 (13,02,42,688 equity shares of Rs. 10/- each).

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Apar Industries gains as board to consider share buyback
Dec 26,2016

The announcement was made after market hours on Friday, 23 December 2016.

Meanwhile, the S&P BSE Sensex was down 204.46 points or 0.79% at 25,836.24.

On the BSE, 1,830 shares were traded on the counter so far as against the average daily volumes of 14,833 shares in the past one quarter. The stock had hit a high of Rs 589.25 and a low of Rs 574.90 so far during the day.

The stock had hit a record high of Rs 633.55 on 1 August 2016 and a 52-week low of Rs 406 on 29 February 2016. The stock had outperformed the market over the past one month till 23 December 2016, advancing 1.32% compared with the Sensexs 0.04% fall. The scrip had also outperformed the market over the past one quarter falling 2.89% as against the Sensexs 9.71% fall.

The small-cap company has equity capital of Rs 38.50 crore. Face value per share is Rs 10.

Apar Industries net profit rose 82.2% to Rs 45.66 crore on 1.5% rise in net sales to Rs 1252.58 crore in Q2 September 2016 over Q2 September 2015.

Apar Industries is engaged in the business of manufacture of conductors, transformer/specialty oils and power/telecom cables.

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Siddhartha Tubes announces resignation of company secretary and compliance office
Dec 26,2016

Siddhartha Tubes announced that the Board of Directors of the Company at its meeting held on 16 December 2016, has accepted the resignation of Chandni Vardani as Company Secretary & Compliance Officer of the company with effect from 16 December 2016.

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MEP Infrastructure Developers provides business update
Dec 26,2016

MEP Infrastructure Developers announced that MEP Infrastructure Developers (MEP) has been appointed by the Maharashtra State Road Development Corporation, Mumbai (MSRDC) as Contractor for the collection of toll at the toll stations on Bhiwandi Kalyan Shilphata Highway at Katai Toll Plaza (Ch 4/500) and at Gove Toll Plaza (Ch 18/370) at approved toll rates specified by Govt. of India vide toll notification dated 08 October 2016 on only specified vehicles passing over the said section of road/project as per Letter of Acceptance dated 23 December 2016 received by the Company.

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Reliance Defence inches up as Morgan Stanley purchases bulk shares
Dec 26,2016

Meanwhile, the S&P BSE Sensex was down 238.94 points or 0.92% at 25,801.76.

On the BSE, 1.98 lakh shares were traded on the counter so far as against the average daily volumes of 5.37 lakh shares in the past one quarter. The stock was volatile. The stock rose as much as 2.66% at the days high of Rs 55.90 so far during the day. The stock rose 0.09% at the days low of Rs 54.50 so far during the day.

The stock had hit a 52-week high of Rs 114 on 28 December 2015 and a 52-week low of Rs 48.40 on 22 November 2016. It had outperformed the market over the past one month till 23 December 2016, advancing 7.61% compared with the Sensexs 0.04% fall. The scrip had, however, underperformed the market in past one quarter, declining 10.44% as against Sensexs 9.17% fall.

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

Valiant Mauritius Partners Offshore sold 68.82 lakh shares of Reliance Defence and Engineering (RDEL) at Rs 53.25 per share in a bulk deal on the BSE on Friday, 23 December 2016. Valiant Mauritius Partners offloaded 54.40 lakh shares at Rs 53.25 a piece. Morgan Stanley Mauritius Company bought the entire 1.23 crore shares in these deals.

Valiant Mauritius Partners owned 2.23% in RDEL end September 2016.

Reliance Defence and Engineering reported net loss of Rs 116.29 crore in Q2 September 2016, lower than net loss of Rs 170.49 crore in Q2 September 2015. Net sales rose 86.2% to Rs 96.85 crore in Q2 September 2016 over Q2 September 2015.

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

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ONGC slips on plan to buy GSPC stake in KG basin block
Dec 26,2016

The announcement was made after market hours on Friday, 23 December 2016.

Meanwhile, the BSE Sensex was down 218.93 points, or 0.84%, to 25,821.77.

On the BSE, so far 45,000 shares were traded in the counter, compared with average daily volumes of 6.74 lakh shares in the past one quarter. The stock had hit a high of Rs 192.30 and a low of Rs 189.05 so far during the day.

The stock hit a 52-week high of Rs 210.11 on 13 December 2016. The stock hit a 52-week low of Rs 125.40 on 12 February 2016. The stock had outperformed the market over the past 30 days till 23 December 2016, rising 4.19% compared with the 0.70% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 11.13% as against Sensexs 9.17% decline.

The large-cap company has equity capital of Rs 6416.62 crore. Face value per share is Rs 5.

ONGC announced that its board on Friday, 23 December 2016, considered the proposal and approved acquisition of the entire 80% participating interest (PI) of Gujarat State Petroleum Corporation (GSPC) along with operatorship rights, at a purchase consideration of $995.26 million for Deen Dayai West Field in Krishna Godavari (KG) Basin offshore.

ONGC and GSPC were engaged in discussions on a potential transaction for purchase by ONGC of GSPCs stake and operatorship in NELPn++III block in KG Basin offshore.

ONGC shall also pay part consideration of $200 million to GSPC towards future consideration for six discoveries other than Deen Dayai West Field, which will be adjusted upon valuation of the these discoveries subsequent to approval of their Field Development Plans by DGH/Management Committee of the block.

The transaction would be documented by signing a farm-in agreement with GSPC. Requisite approval from the Government will be sought by GSPC in accordance with provisions of production sharing contract of the block.

ONGCs net profit rose 6.3% to Rs 4974.92 crore on 10.3% decline in net sales to Rs 18286.62 crore in Q2 September 2016 over Q2 September 2015.

ONGC is Indias largest oil and gas exploration firm by sales.

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I&B Ministry revises timeline for Phase III & Phase IV of Cable TV Digitization
Dec 26,2016

The Ministry of Information & Broadcasting is extending the cut-off date for Phase IV of Cable TV Digitization to 31 March, 2017 in lieu of uncertainty in the market due to pending court cases and unsatisfactory progress of installation of Set Top Boxes (STBs) in Phase IV areas. Digitization in rural areas was targeted to be achieved by 31st December, 2016 under Phase IV. A notification in this regard will be issued shortly.

Ministry is also providing additional time for the remaining subscribers in Phase III areas to switch over to digital mode of transmission by 31st January, 2017 on account of ongoing court proceedings.

In Phase III areas, digitization in remaining urban areas in the country was to be completed by 31st December, 2015. However, some MSO Associations/individuals had moved various High Courts and obtained either extension of cut-off date / stay on the operationalization of the Notifications of the Ministry dated 11 November 2011 and 11 November 2014. The matter when raised before the Honble Supreme Court by the Ministry, transferred all the cases to the Delhi High Court for hearing and disposal vide its order dated 01 April 2016. Honble High Court of Delhi has disposed-off most of the cases and it is very likely that the remaining cases would also be finally disposed-off in very near future.

The Ministry will be issuing instructions to all the Broadcasters, Multi System Operators (MSOs), Local Cable Operators (LCOs) and the Authorised Officers to ensure that no analog signals would be transmitted over the cable networks in Phase III areas after 31st January, 2017. It is also made clear that no further extension of time would be allowed.

The Cable Television Networks (Regulation) Amendment Act, 2011 has made it mandatory for switch-over of the existing analogue Cable TV networks to Digital Addressable System (DAS) in four phases. Digital switch-over has already taken place in Phase-I and II areas.

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