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Aviation stocks hit air pocket after proposed draft amendments to CARs
Jun 13,2016

SpiceJet was off 1.3% at Rs 62.90. Jet Airways (India) was off 1.9% at Rs 557.65. InterGlobe Aviation was off 2% at Rs 978.50.

Meanwhile, the S&P BSE Sensex was off 286.08 points or 1.07% at 26,349.67.

The Ministry of Civil Aviation said in its proposed draft amendments to Civil Aviation Requirements (CARs) that airlines shall refund all statutory taxes and User Development Fee (UDF)/Airport Development Fee (ADF)/Passenger Service Fee (PSF) to the passengers in case of cancellation of tickets/non-utilisation of tickets/no show. In no circumstances, the cancellation charge shall be more than the basic fare.

In case of denied boarding, flight cancellation and flight delays, the ministry has proposed that an amount equal to 200% of booked one way basic fair plus airline fuel charge subject to maximum of Rs 10,000 would be paid to passengers in case airline arranges alternate flight that is to depart after one hour but within 24 hours of the booked scheduled departure. The ministry has proposed that an airline shall refund an amount equal to 400% of booked one-way basic fare plus airline fuel charge subject to maximum of Rs 20,000 in case where the airline arranges alternate flight that is scheduled to depart beyond 24 hours of the booked scheduled departure. In case passenger does not opt for alternate flight, the airline shall refund full value of ticket and compensation equal to 400% of booked one-way basic fare plus airline fuel charge, subject to maximum of Rs 20,000.

The ministry announced the draft amendments to CAR on Saturday, 11 June 2016. The ministry has invited public comments on the proposed draft amendments to CARs by 27 June 2016.

With regard to checked-in baggage charges, the ministry has proposed that the airline should restrict additional baggage charge at Rs 100 per kg for baggage between 15 to 20 kg. Director General of Civil Aviation M Sathiyavathy was quoted as saying on Saturday, 11 June 2016, that the changes in excess baggage fee norms will be implemented from 15 June 2016.

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Coal India gains as subsidiaries to buyback shares
Jun 13,2016

Meanwhile, the BSE Sensex was down 284.89 points, or 1.07%, to 26,350.86.

On BSE, so far 52,000 shares were traded in the counter, compared with an average volume of 3.28 crore shares in the past one quarter. The stock hit a high of Rs 310.70 and a low of Rs 304.80 so far during the day. The stock hit a record high of Rs 447.25 on 5 August 2015. The stock hit a 52-week low of Rs 272.05 on 12 April 2016. The stock had outperformed the market over the past one month till 10 June 2016, rising 8.17% compared with 3.28% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 3.73% as against Sensexs 7.76% rise.

The large-cap company has an equity capital of Rs 6316.36 crore. Face value per share is Rs 10.

Coal India announced on Sunday, 12 June 2016, that two of its subsidiaries - Mahanadi Coalfields and Northern Coalfields - will buyback total shares worth around Rs 1978 crore from their shareholders.

The board of directors of Northern Coalfields (NGL) approved buyback of 4.01 lakh fully paid equity shares, or 22.62% equity, of face value of Rs 1000 each from the members of NGL on a proportionate basis through tender offer for an aggregate amount not exceeding Rs 948.72 crore. The shares will be purchased at Rs. 23,610.04 each.

The board of directors of Mahanadi Coalfields (MCL) approved buyback of 4.43 lakh fully paid equity shares, or 23.82% equity, of face value of Rs 1000 each from the members of MCL on a proportionate basis through tender offer for an aggregate amount not exceeding Rs 1028.77 crore. The shares will be purchased at Rs 23,171.89 each.

Coal Indias consolidated net profit rose 0.2% to Rs 4247.93 crore on 0.7% decline in total income to Rs 22904.36 crore in Q4 March 2016 over Q4 March 2015.

Coal India is an organized state-owned coal mining corporate. The Government of India held 79.65% stake in Coal India (as per the shareholding pattern as on 31 March 2016).

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Fortis Healthcare declines after DHS slaps Rs 500-crore finen++on subsidiary
Jun 13,2016

Meanwhile, the BSE Sensex was down 286.31 points, or 1.07%, to 26,349.44.

On BSE, so far 33,000 shares were traded in the counter, compared with an average volume of 53.38 lakh shares in the past one quarter. The stock hit a high of Rs 163.80 and a low of Rs 160.10 so far during the day. The stock hit a 52-week high of Rs 199.20 on 5 August 2015. The stock hit a 52-week low of Rs 141.10 on 12 February 2016. The stock had underperformed the market over the past one month till 10 June 2016, rising 0.18% compared with 3.28% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 0.30% as against Sensexs 7.76% rise.

The mid-cap company has an equity capital of Rs 463.17 crore. Face value per share is Rs 10.

Fortis Healthcare announced after market hours on Friday, 10 June 2016, that one of its subsidiaries, Escort Heart Institute & Research Centre (EHIRCL), has received an order from The Directorate General of Health Services (DHS). The DHS has ordered to deposit Rs 503.36 crore towards recovery of unwarranted profit made by EHIRCL for alleged non-compliance of the conditions of allotment/lease of land since its allotment in 1982. EHIRCL believes that the impugned order in its view is legally flawed and untenable. The EHIRCL management will challenge the same in the High Court of Delhi or such relevant authority to seek suitable legal remedies available to it under law.

On a consolidated basis, Fortis Healthcare reported net loss of Rs 90.86 crore Q4 March 2016 as against net loss of Rs 17.53 crore in Q4 March 2015. Net sales rose 1.13% to Rs 1061.32 crore in Q4 March 2016 over Q4 March 2015.

Fortis Healthcare is a leading integrated healthcare delivery service provider in India. The healthcare verticals of the company primarily comprise hospitals, diagnostics and day care specialty facilities.

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Yes Bank gains as RBI clears increase in ceiling on investment by FIIs
Jun 13,2016

Meanwhile, the S&P BSE Sensex was off 281.56 points or 1.06% at 26,354.19.

On BSE, so far 55,853 shares were traded in the counter as against average daily volume of 3.14 lakh shares in the past one quarter. The stock hit a high of Rs 1,072 and a low of Rs 1,053 so far during the day. The stock had hit a record high of Rs 1,085 on 7 June 2016. The stock had hit 52-week low of Rs 590 on 24 August 2015. The stock had outperformed the market over the past one month till 10 June 2016, surging 11.84% compared with the Sensexs 3.35% rise. The scrip had also outperformed the market in past one quarter, jumping 34.05% as against the Sensexs 8.17% rise.

The Reserve Bank of Indias (RBI) nod for higher ceiling on investment by foreign institutional investors (FIIs) came after Yes Banks board of directors and shareholders approved the proposal. The RBI has capped the total foreign shareholding from all sources in Yes Bank at 74% of the banks equity. Last month, the Cabinet Committee on Economic Affairs cleared Yes Banks proposal for increase in foreign investment limit in the banks equity capital to 74% from 41.87% without any sub-limits.

The large cap private sector bank has equity capital of Rs 421 crore. Face value per share is Rs 10.

Yes Banks net profit rose 27.4% to Rs 702.11 crore on 17.7% rise in total income to Rs 4331.11 crore in Q4 March 2016 over Q4 March 2015.

Yes Bank is a private sector bank with a pan India presence.

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Dr Reddys Lab gains on acquiring 8 ANDAs
Jun 13,2016

The announcement was made on Saturday, 11 June 2016.

Meanwhile, the BSE Sensex was down 254.55 points, or 0.96%, to 26,381.20.

On BSE, so far 4,217 shares were traded in the counter, compared with an average volume of 19.48 lakh shares in the past one quarter. The stock hit a high of Rs 3,095.90 and a low of Rs 3,073 so far during the day. The stock hit a record high of Rs 4,382.95 on 20 October 2015. The stock hit a 52-week low of Rs 2,750 on 21 January 2016. The stock had underperformed the market over the past one month till 10 June 2016, rising 3.05% compared with 3.28% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 4.59% as against Sensexs 7.76% rise.

The large-cap company has an equity capital of Rs 85.30 crore. Face value per share is Rs 5.

Dr Reddys Laboratories (DRL) inked a definitive agreement with Teva Pharmaceutical Industries and an affiliate of Allergan plc to acquire a portfolio of eight Abbreviated New Drug Applications (ANDAs) in the US for $350 million in cash. The acquired portfolio consists of products that are being divested by Teva as a precondition to its completion of the acquisition of Allergans generics business. The portfolio being acquired is a mix of filed ANDAs pending approval and one approved ANDA. The portfolio comprises of complex generic products across diverse dosage forms. The branded versions of these drugs had aggregate sales of about $3.5 billion in the United States for 12-month period ended April 2016, according to IMS Health data. DRL is acquiring this portfolio of drugs on a cash-free, debt-free basis and expects to finance the transaction using a combination of cash on hand and available borrowings under existing credit facilities. The acquisition of these ANDAs is contingent on the successful completion of the Teva/Allergan generics transaction and approval by the US Federal Trade Commission of DRL as a buyer.

Dr Reddys Laboratories consolidated net profit fell 85.6% to Rs 74.60 crore on 2.4% decline in total income to Rs 3792.80 crore in Q4 March 2016 over Q4 March 2015.

Dr Reddys Laboratories is an integrated global pharmaceutical company. Through its three businesses - Pharmaceutical Services & Active Ingredients, Global Generics and Proprietary Products - Dr Reddys offers a portfolio of products and services including active pharmaceutical ingredients (APIs), custom pharmaceutical services, generics, biosimilars and differentiated formulations.

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Lanco Infratech surges on buzz of shortlisting players for selling power business
Jun 10,2016

Meanwhile, the S&P BSE Sensex was down 126.46 points or 0.47% at 26,631.06

On BSE, so far 22.11 lakh shares were traded in the counter as against average daily volume of 4.73 lakh shares in the past one quarter. The stock hit a high of Rs 5.06 and a low of Rs 4.28 so far during the day. The stock had hit a 52-week high of Rs 7.78 on 6 January 2016. The stock had hit a record low of Rs 2.46 on 25 August 2015. The stock had underperformed the market over the past one month till 9 June 2016, rising 2.57% compared with Sensexs 4.18% rise. The scrip also underperformed the market in past one quarter, falling 20.9% as against Sensexs 7.94% rise.

The small-cap company has equity capital of Rs 274.93 crore. Face value per share is Re 1.

Reports indicated that Tata Power Company, JSW Energy and Piramal Enterprises are among those who are interested in buying Lanco Groups power assets. A meeting of the joint lenders forum is scheduled to meet in the next few days to take a decision on the sale of the power business of Lanco Group. As per reports, Lanco Group, has power assets of about 8,000 megawatts (MW), and is seeking about Rs 4.50 crore per MW while buyers are bidding at about Rs 3 crore per MW. Lanco Groups power business enterprise value is pegged at Rs 45000 crore inclusive of debt, reports suggested.

Lanco Infratech reported consolidated net loss of Rs 200.71 crore in Q4 March 2016, higher than net loss of Rs 586.29 crore in Q4 March 2015. Net sales fell 7.4% to Rs 2044.74 crore in Q4 March 2016 over Q4 March 2015.

Lanco Infratech is one of the Indias largest integrated infrastructure developers in India. The company has subsidiaries and divisions across a synergistic span of 5 business verticals viz. engineering, procurement and construction (EPC), power, natural resources, solar and infrastructure.

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Lanco Infratech jumps on buzz of shortlisting players for selling power business
Jun 10,2016

Meanwhile, the S&P BSE Sensex was down 126.46 points or 0.47% at 26,631.06

On BSE, so far 22.11 lakh shares were traded in the counter as against average daily volume of 4.73 lakh shares in the past one quarter. The stock hit a high of Rs 5.06 and a low of Rs 4.28 so far during the day. The stock had hit a 52-week high of Rs 7.78 on 6 January 2016. The stock had hit a record low of Rs 2.46 on 25 August 2015. The stock had underperformed the market over the past one month till 9 June 2016, rising 2.57% compared with Sensexs 4.18% rise. The scrip also underperformed the market in past one quarter, falling 20.9% as against Sensexs 7.94% rise.

The small-cap company has equity capital of Rs 274.93 crore. Face value per share is Re 1.

Reports indicated that Tata Power Company, JSW Energy and Piramal Enterprises are among those who are interested in buying Lanco Groups power assets. A meeting of the joint lenders forum is scheduled to meet in the next few days to take a decision on the sale of the power business of Lanco Group. As per reports, Lanco Group, has power assets of about 8,000 megawatts (MW), and is seeking about Rs 4.50 crore per MW while buyers are bidding at about Rs 3 crore per MW. Lanco Groups power business enterprise value is pegged at Rs 45000 crore inclusive of debt, reports suggested.

Lanco Infratech reported consolidated net loss of Rs 200.71 crore in Q4 March 2016, higher than net loss of Rs 586.29 crore in Q4 March 2015. Net sales fell 7.4% to Rs 2044.74 crore in Q4 March 2016 over Q4 March 2015.

Lanco Infratech is one of the Indias largest integrated infrastructure developers in India. The company has subsidiaries and divisions across a synergistic span of 5 business verticals viz. engineering, procurement and construction (EPC), power, natural resources, solar and infrastructure.

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Max Financial Services surges as foreign brokerage assigns overweight rating
Jun 10,2016

Meanwhile, the S&P BSE Sensex was down 123.17 points or 0.46% at 26,640.29.

On BSE, so far 1.06 lakh shares were traded in the counter as against average daily volume of 16,061 shares in the past one quarter. The stock hit a high of Rs 455.25 and a low of Rs 401 so far during the day. The stock had hit a record high of Rs 585.75 on 20 November 2015. The stock had hit a 52-week low of Rs 303 on 25 February 2016. The stock had outperformed the market over the past one month till 9 June 2016, gaining 13.9% compared with Sensexs 4.18% rise. The scrip had also outperformed the market in past one quarter, advancing 32.94% as against Sensexs 7.94% rise.

The large-cap company has equity capital of Rs 53.40 crore. Face value per share is Rs 2.

According to reports, the brokerage believes that Indias life insurance industry has attractive growth potential given under-insurance and demographic changes. Max Financial Services is the holding company of Max Life Insurance, a life insurance joint venture between the Max Group and Mitsui Sumitomo Insurance Co. Mitsui Sumitomo Insurance is a member of MS&AD Insurance Group, which is amongst the leading general insurers in the world.

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Oil E&P stocks witness mixed trend
Jun 10,2016

Cairn India (down 0.96% at Rs 145) and ONGC (down 0.7% at Rs 218.45) edged lower. Oil India (up 0.06% at Rs 358.65) and Reliance Industries (up 0.16% at Rs 973) edged higher.

Meanwhile, the S&P BSE Sensex was down 113.50 points or 0.42% at 26,649.96.

Lower crude oil prices would result in lower realization from crude sales for oil exploration firms.

A strong dollar weighed on global crude oil prices. Brent for August 2016 settlement was currently off 79 cents at $51.16 a barrel. The contract had declined 56 cents or 1.06% to settle at $51.95 a barrel during the previous trading session.

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IDFC advances after bulk deal
Jun 10,2016

Meanwhile, the S&P BSE Sensex was down 94.87 points or 0.35% at 26,668.59

The bulk deal boosted volume in the counter. On BSE, so far 22.75 lakh shares were traded in the counter as against average daily volume of 7.36 lakh shares in the past one quarter. The stock hit a high of Rs 51.95 and a low of Rs 49.05 so far during the day. The stock had hit a 52-week low of Rs 34.80 on 12 February 2016. The stock had hit a 52-week high of Rs 80.16 on 24 July 2015. The stock had underperformed the market over the past one month till 9 June 2016, rising 2.82% compared with Sensexs 4.18% rise. The scrip, however, outperformed the market in past one quarter, gaining 24.4% as against Sensexs 7.94% rise.

The mid-cap company has equity capital of Rs 1595.94 crore. Face value per share is Rs 10.

Post the demerger and transfer of the financing undertaking to IDFC Bank with effect from 1 October 2015, IDFC is mainly an investment company with minimal operations.

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Aban Offshore slides on profit booking
Jun 10,2016

Meanwhile, the S&P BSE Sensex was down 96.68 points or 0.36% at 26,666.78.

On BSE, so far 2.30 lakh shares were traded in the counter as against average daily volume of 4.06 lakh shares in the past one quarter. The stock hit a high of Rs 218.70 and a low of Rs 212.25 so far during the day. The stock had hit a 52-week low of Rs 142.50 on 12 February 2016. The stock had hit a 52-week high of Rs 340 on 15 July 2015. The stock had outperformed the market over the past one month till 9 June 2016, gaining 8.24% compared with Sensexs 4.18% rise. The scrip had also outperformed the market in past one quarter, advancing 24.7% as against Sensexs 7.94% rise.

The small-cap company has equity capital of Rs 11.67 crore. Face value per share is Rs 2.

Shares of Aban Offshore had rallied 11.61% in the preceding three trading sessions to settle at Rs 218.65 yesterday, 9 June 2016, from its close of Rs 195.90 on 6 June 2016.

On consolidated basis, Aban Offshore reported net loss of Rs 119.80 crore in Q4 March 2016 compared with net profit of Rs 113.54 crore in Q4 March 2015. Net sales declined 36.5% to Rs 629.30 crore in Q4 March 2016 over Q4 March 2015.

Aban Offshore offers a diverse range of offshore drilling services to clients in India and abroad.

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Gruh Finance and Rallis India drop ex-dividend
Jun 10,2016

Meanwhile, the S&P BSE Sensex was down 116.98 points or 0.44% at 26,646.48.

Gruh Finance lost 1.77% at Rs 280 on turning ex-dividend today, 10 June 2016, for dividend of Rs 2.30 per share for the year ended 31 March 2016. Before turning ex-dividend, the stock offered a dividend yield of 0.8% based on the closing price of Rs 285.05 on the BSE yesterday, 9 June 2016.

Gruh Finances net profit rose 18.6% to Rs 87.82 crore on 20.3% growth in total income to Rs 366.91 crore in Q4 March 2016 over Q4 March 2015.

Gruh Finance is engaged in providing loan for purchase and construction of residential houses. Gruh Finance is a subsidiary of housing finance major HDFC, which holds 58.59% stake in the firm (as per the shareholding pattern as on 31 March 2016).

Rallis India fell 1.14% at Rs 213.15 on turning ex-dividend today, 10 June 2016, for final dividend of Rs 2.50 per share for the year ended 31 March 2016. Before turning ex-dividend, the stock offered a dividend yield of 1.15% based on the closing price of Rs 215.60 on the BSE yesterday, 9 June 2016.

On consolidated basis, Rallis Indias net profit rose 51.3% to Rs 32.25 crore on 8.6% growth in net sales to Rs 341.99 crore in Q4 March 2016 over Q4 March 2015.

Rallis India is one of the leading crop care companies in India.

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Alphageo (India) drops on profit booking after recent strong rally
Jun 10,2016

Meanwhile, the S&P BSE Sensex was up 71.53 points or 0.27% at 26,834.99

On BSE, so far 47,395 shares were traded in the counter as against average daily volume of 14,539 shares in the past one quarter. The stock hit a high of Rs 846 and a low of Rs 804 so far during the day. The recent rally had pushed the stock to a fresh 52-week high of Rs 861 yesterday, 9 June 2016. The stock had hit a 52-week low of Rs 268 on 24 August 2015. The stock had outperformed the market over the past one month till 9 June 2016, rising 42.27% compared with Sensexs 4.18% rise. The scrip had also outperformed the market in past one quarter, gaining 53.03% as against Sensexs 7.94% rise.

The small-cap company has equity capital of Rs 5.63 crore. Face value per share is Rs 10.

Shares of Alphageo (India) had surged 69.75% in five trading sessions to settle at Rs 827.30 yesterday, 9 June 2016 from its close of Rs 487.35 on 2 June 2016. Bulk of the rally came after the company on 7 June 2016 announced that it has secured letters of award for contracts aggregating Rs 1482 crore from ONGC. The contracts pertain to acquisition of 2D seismic data in un-appraised on land areas of Indian sedimentary basins as a part of the National Seismic Program. The company has initiated the necessary steps to execute the contracts. Boosted by announcement of the large order win, shares of Alphageo (India) rose by its maximum permissible daily limit of 20% to settle at Rs 660.10 on 7 June 2016. The stock also rose by its maximum permissible daily limit of 20% to settle at Rs 792.10 on 8 June 2016. Gaining further ground, the stock rose 4.44% to settle at Rs 827.30 yesterday, 9 June 2016.

Alphageo (India)s consolidated net profit surged 9052.4% to Rs 19.22 crore on 442.1% growth in total income to Rs 71.02 crore in Q4 March 2016 over Q4 March 2015.

Alphageo (India) is the largest onshore integrated seismic service provider in the private sector and enjoys a market leadership in seismic survey.

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New order boosts Solar Industries
Jun 10,2016

The announcement was made during market hours today, 10 June 2016.

Meanwhile, the S&P BSE Sensex was up 41.05 points or 0.15% at 26,804.51.

On BSE, so far 2,231 shares were traded in the counter as against average daily volume of 1,541 shares in the past one quarter. The stock hit a high of Rs 3,299.20 and a low of Rs 3,078 so far during the day. The stock had hit a record high of Rs 4,324 on 16 July 2015. The stock had hit a 52-week low of Rs 2,850 on 29 February 2016. The stock had underperformed the market over the past one month till 9 June 2016, sliding 7.91% compared with Sensexs 4.18% rise. The scrip had also underperformed the market in past one quarter, declining 0.89% as against Sensexs 7.94% rise.

The mid-cap company has equity capital of Rs 18.10 crore. Face value per share is Rs 10.

The latest order from Singareni Collieries Company (SCCL) is for the supply of about 1.63 lakh metric tonne of explosives for the financial years 2016-17 and 2017-18.

On consolidated basis, Solar Industries Indias net profit rose 20.2% to Rs 48.22 crore on 10.8% growth in net sales to Rs 428.84 crore in Q4 March 2016 over Q4 March 2015.

Solar Industries India manufactures and exports civilian explosives and detonators.

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Satin Creditcare jumps as Morgan Stanley purchases bulk shares
Jun 10,2016

Meanwhile, the S&P BSE Sensex was up 130.96 points or 0.49% at 26,894.42.

On BSE, so far 1.51 lakh shares were traded in the counter as against average daily volume of 3,071 shares in the past one quarter. The stock hit a high of Rs 449 and a low of Rs 382.35 so far during the day. The stock had hit a record high of Rs 489.70 on 9 December 2015. The stock had hit a record low of Rs 264 on 29 February 2016. The stock had outperformed the market over the past one month till 9 June 2016, surging 17.89% compared with Sensexs 4.18% rise. The scrip had also outperformed the market in past one quarter, advancing 23.2% as against Sensexs 7.94% rise.

The small-cap company has equity capital of Rs 29.08 crore. Face value per share is Rs 10.

Rajsonia Consultancy Services sold 1.54 lakh shares of Satin Creditcare Network at Rs 377.05 per share on the NSE yesterday, 9 June 2016. Shorecap II sold 10 lakh shares at Rs 376.25 per share.

Satin Creditcare Networks net profit rose 56.4% to Rs 16.34 crore on 72.2% growth in total income to Rs 173.06 crore in Q4 March 2016 over Q4 March 2015.

Satin Creditcare Network is one of the leading microfinance companies in India.

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