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Autoline Inds retracts from 52-week high
Aug 08,2017

Meanwhile, the S&P BSE Sensex was down 157.80 points or 0.49% at 32,115.87. The S&P BSE Small-Cap index fell 111.29 points or 0.69% at 15,997.92.

On the BSE, 2.08 lakh shares were traded on the counter so far as against the average daily volumes of 30,687 shares in the past one quarter. The stock had hit a high of Rs 91.50 so far during the day, which is a 52-week high. The stock hit a low of Rs 79.75 so far during the day. The stock had hit a 52-week low of Rs 44 on 22 November 2016.

The stock had outperformed the market over the past one month till 7 August 2017, advancing 60.22% compared with the Sensexs 2.91% rise. The stock had also outperformed the market over the past one quarter, gaining 48.78% as against the Sensexs 8.09% rise. The scrip had also outperformed the market over the past one year, advancing 73.9% as against the Sensexs 14.94% rise.

The small-cap company has equity capital of Rs 16.03 crore. Face value per share is Rs 10.

Shares of Autoline Industries had spurted 44.53% in the preceding six trading sessions to settle at Rs 88.60 yesterday, 7 August 2017, from its closing of Rs 61.30 on 28 July 2017. Lions portion of the rally materialized when the stock zoomed by the maximum permissible level of 20% in a single trading session yesterday, 7 August 2017, after the company said after market hours on Friday, 4 August 2017 that it has entered into an agreement to sell its manufacturing unit in Pimpri, Pune.

Autoline Industries said it will utilise the sale proceeds to settle the debt that has a charge on the Pimpri land holding and reduce overall debt exposure of the company. The activities of the companys Pimpri unit will now shift to its Chakan facility in Pune, it said.

The company believes that the consolidation of facilities will accrue substantial operational efficiency, cost savings, and smoothening of supply chain management by utilizing the available resources in Chakan Unit.

On a consolidated basis, Autoline Industries reported net loss of Rs 2.64 crore in Q4 March 2017 as against net loss of Rs 1.24 crore in Q4 March 2016. Net sales rose 26.1% to Rs 109.22 crore in Q4 March 2017 over Q4 March 2016.

Autoline Industries is an engineering and auto ancillary company, manufacturing sheet metal components, sub-assemblies and assemblies, foot control modules, parking brakes, hinges, cab stay and cab tilt, exhaust systems, tubular structures, fabrications, etc. for large original equipment manufacturers in the automobile industry.

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Century Enka gets revision in credit ratings for bank facilities
Aug 08,2017

Century Enka announced that CRISIL has revised the ratings for bank facilities availed by the Company -

Total bank loan facilities rates - Rs 663 crore
Long term rating - CRISIL A+/ Stable (Reaffirmed)
Short term rating - CRISIL A1+ (Upgraded from CRISIL A1)

Rs 150 crore short term debt - CRISIL A1+ (Upgraded from CRISIL A1)

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Sintex Plastics Technology declines on debut
Aug 08,2017

Meanwhile, the S&P BSE Sensex was down 204.35 points, or 0.63% at 32,069.32.

So far the stock hit a high of Rs 136.50 and low of Rs 123.60. On BSE, so far 33.70 lakh shares were traded on the counter.

The equity shares of Sintex Plastics Technology are listed on the exchange in the list of T group (Trade-for-Trade) of securities. The scrip will trade in this segment for 10 trading days.

In September 2016, the board of directors of Sintex Industries approved the composite scheme of arrangement for the demerger of custom moulding business and prefab business from Sintex Industries to Sintex-BAPL and Sintex Infra Projects, respectively.

Both demerged companies are wholly-owned subsidiary of Sintex Plastics Technology. With this demerger plan, Sintex intends to streamline various businesses developed by the Group.

Upon demerger, shareholders of Sintex Industries got one equity share from Sintex Plastics Technology for one share held in company.

The record date for the scheme of demerger was 26 May 2017.

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Board of Tata Steel appoints director
Aug 08,2017

Tata Steel announced that the Board of Directors of the Company has approved the appointment of Saurabh Agrawal as an Additional (Non-Executive) Director. The appointment is effective 10 August 2017.

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Board of Sahyadri Industries approves change in directorate
Aug 08,2017

The Board of Sahyadri Industries vide circular resolution dated 07 August 2017 approved the following change in directorate -

Appointment of Adv. S. B. Malegaonkar (DIN: 07901434) as Non- Executive Director of the Company.

Cessation of S.U Joshi (DIN: 00130591), J. G. Awate (DIN: 00138193), S. Y. Mestry (DIN: 01288571) as Independent Directors of the Company.

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Mahindra & Mahindra announces cessation of director
Aug 08,2017

Mahindra & Mahindra announced that would cease to be a Director of the Company from 8 August, 2017, upon completion of his tenure as an Independent Director as approved by the Shareholders at the 68th Annual General Meeting of the Company held on 8 August, 2014.

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Allahabad Bank allots 5,65,24,678 equity shares to GoI
Aug 08,2017

Allahabad Bank has allotted 5,65,24,678 equity shares of Rs 10 each at an issue price of Rs 73.95 per equity share including premium of Rs 63.95 per equity share to Government of India for cash.

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Outcome of board meeting of Worth Investment & Trading Company
Aug 08,2017

The Board of Worth Investment & Trading Company at its meeting held on 07 August 2017 transacted the following -

The Board accepted the resignation of its present director Suman Pal (DIN No. 06814041) and also appraised time and services devoted by him to the affairs of the company, and also the Board herewith appointed Dhawal Doshi as new Independent Director of the company.

The Board herewith agreed to shift the registered office of the company to 34, C.R.Avenue, 1st Floor, Kolkata - 700012 for the better and smooth functioning of the company.

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Nilkamal slips after weak Q1 results
Aug 08,2017

The result was announced after market hours yesterday, 7 August 2017.

Meanwhile, the S&P BSE Sensex was down 209.28 points, or 0.65% to 32,064.39.

On the BSE, 59,000 shares were traded in the counter so far, compared with average daily volumes of 6,134 shares in the past one quarter. The stock had hit a high of Rs 1,789 and a low of Rs 1,647.10 so far during the day. The stock hit a record high of Rs 2,274.85 on 11 May 2017. The stock hit a 52-week low of Rs 1,150.20 on 11 August 2016.

The stock had underperformed the market over the past one month till 7 August 2017, falling 9.04% compared with 2.91% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 20.14% as against Sensexs 7.82% rise. The scrip had outperformed the market in past one year, rising 45.32% as against Sensexs 14.52% rise.

The small-cap company has equity capital of Rs 14.92 crore. Face value per share is Rs 10.

During Q1 June 2017, Nilkamal achieved growth in its net sales, however the net profit was affected on account of additional spends towards the ongoing advertisement for brand reinforcement, rise in routine expenditure and other one-off, non-recurring operational expenses. Further, June 2017 also saw an impact on the sales volume of the company due to the goods and services tax (GST) being rolled-out with effect from July 2017.

Nilkamal is an industry pioneer in the manufacturing business of moulded furniture and material handling products with diversified product profile across various segments along with a diversified customer base including household customers, industrial customers and retail buyers. It is also having its presence in the retail business of lifestyle furniture, furnishings and accessories under its brand @home & Nilkamal Mattresses.

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Bank of Maharashtra reviews MCLR rates
Aug 08,2017

Bank of Maharashtra has reviewed its Marginal Cost of Funds based Lending Rates with effect from 07 August 2017 as under -

Overnight - 8.15%
One month - 8.20%
Three months - 8.25%
Six months - 8.60%
One year - 8.70%

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Goodricke Group surges after strong Q1 earnings
Aug 08,2017

The result was announced after market hours yesterday, 7 August 2017.

Meanwhile, the S&P BSE Sensex was down 209.96 points, or 0.65% at 32,063.71. The S&P BSE Small-Cap index was down 167.28 points, or 1.04% at 15,941.93.

High volumes were witnessed on the counter. On the BSE, 32,000 shares were traded on the counter so far as against the average daily volumes of 9,655 shares in the past one quarter. The stock had hit a high of Rs 251.90 and a low of Rs 235 so far during the day. The stock had hit a 52-week high of Rs 306.75 on 27 February 2017 and a 52-week low of Rs 162.10 on 5 August 2016.

The stock had underperformed the market over the past one month till 7 Aug 2017, declining 8% compared with the Sensexs 2.91% rise. The scrip had also underperformed the market over the past one quarter declining 15.76% as against the Sensexs 8.09% rise. The scrip had, however, outperformed the market over the past one year advancing 35.58% as against the Sensexs 14.94% rise.

The small-cap company has equity capital of Rs 21.60 crore. Face value per share is Rs 10.

Goodricke Group is engaged in the business of cultivation, manufacture and sale of tea.

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JP Associates drops on profit booking
Aug 08,2017

Meanwhile, the S&P BSE Sensex was down 210.32 points or 0.65% at 32,063.35. The S&P BSE Mid-Cap index declined 135.30 points or 0.87% at 15,464.97.

On the BSE, 93.01 lakh shares were traded on the counter so far as against the average daily volumes of 1.30 crore shares in the past one quarter. The stock had hit a high of Rs 29.35 and a low of Rs 26.10 so far during the day. The stock had hit a 52-week high of Rs 30.40 yesterday, 7 August 2017 and a 52-week low of Rs 6.71 on 25 November 2016.

The stock had outperformed the market over the past one month till 7 August 2017, advancing 31.22% compared with the Sensexs 2.91% rise. The stock had also outperformed the market over the past one quarter, gaining 132.74% as against the Sensexs 8.09% rise. The scrip had also outperformed the market over the past one year, advancing 137.12% as against the Sensexs 14.94% rise.

The mid-cap company has equity capital of Rs 486.49 crore. Face value per share is Rs 2.

Shares of Jaiprakash Associates had surged 14.4% in a single trading session to settle at Rs 29 yesterday, 7 August 2017, after the company announced turnaround in Q1 results on Saturday, 5 August 2017.

Jaiprakash Associates reported net profit of Rs 764.99 crore in Q1 June 2017 compared with net loss of Rs 602.95 crore in Q1 June 2016. Net sales rose 44.2% to Rs 2491.40 crore in Q1 June 2017 over Q1 June 2016.

Jaiprakash Associates board at its meeting held on Saturday, 5 August 2017, approved proposal for seeking shareholders approval by way of enabling special resolution at the ensuing annual general meeting for raising of funds through various means viz. equity/equity related instruments with various domestic/international options including QIP, rights issue, FPO/preferential issue/GDRs/ADRs/ECBs with right of conversion into equity shares, if any, or any other mode, upto Rs 2000 crore for meeting capital expenditure, reduction of debts, general corporate purposes and for raising working capital requirements for real estate business and other businesses.

Jaiprakash Associates is a diversified infrastructure company.

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Fitch: 1H17 Global Bank Rating Trends Sharply Negative
Aug 08,2017

Global bank rating trends were sharply negative in 1H17, with downgrades significantly outnumbering upgrades, says Fitch Ratings. We changed 92 bank Issuer Default Ratings (IDRs), making 1H17 the most volatile six-month period in recent years. There were 71 downgrades and 21 upgrades, with more than half of the downgrades related to our reassessment of sovereign credit strength.

Emerging markets (EMs) dominated the IDR changes with 57 downgrades and eight upgrades, compared with 14 downgrades and 13 upgrades in developed markets (DMs). Notably, we downgraded 36 IDRs in the Middle East and Africa and 11 IDRs in EM Americas, while all eight upgrades were in EM Europe.

The global distribution of Outlooks remains skewed, with 13% of IDRs on Negative Outlook/Watch and only 5% on Positive.

In EMs, the share of Negative Outlooks (18%) decreased in 1H17 as Outlooks stabilised in Turkey, Saudi Arabia, Costa Rica and South Africa (following downgrades), and in Colombia and Panama. At end-1H17, 80% of Negative Outlooks/Watches came from the Middle East and Africa and Latin America, in particular Brazil (14), Qatar (nine) and Mexico (seven). Only 2% of EM banks were on Positive Outlook.

In DMs, Positive Outlooks at end-1H17 (8%) slightly outweighed Negative Outlooks (7%). This was mainly due to Outlook revisions on six Japanese and six Italian banks to Stable from Negative. In all cases except for one in Italy, the revisions mirrored sovereign rating actions. Positive Outlooks are concentrated in Europe, particularly in Spain where they reflect banks improving asset quality supported by the economic recovery.

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S Kumars Online to declare Quarterly Result
Aug 08,2017

S Kumars Online will hold a meeting of the Board of Directors of the Company on 11 August 2017, to consider and approve Board Report for the year ended 31.03.2017

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Likhami Consulting to table results
Aug 08,2017

Likhami Consulting will hold a meeting of the Board of Directors of the Company on 4 August 2017.

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