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TeamLease Services acquires Cassius Technologies
Jun 02,2017

TeamLease has on 01st June 2017 completed all the conditions precedent to closing of the acquisition and has completed the acquisition of 30% stake in Cassius Technologies Private Limited (n++Freshers Worldn++) thereby making it as the companys Associate.

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Hotel Leelaventure advances on plans to sell hotel in Chennai
Jun 02,2017

The company issued clarification during market hours today, 2 June 2017.

Meanwhile, the S&P BSE Sensex was up 140.18 points or 0.45% at 31,277.77. The S&P BSE Small-Cap index was up 83.18 points or 0.55% at 15,317.42.

On the BSE, 2.14 lakh shares were traded in the counter so far, compared with an average volume of 2.76 lakh shares in the past one quarter.

The stock had hit a high of Rs 23.95 and a low of Rs 23.05 so far during the day. The stock had hit a 52-week high of Rs 27.25 on 10 May 2017. The stock had hit a 52-week low of Rs 15 on 25 November 2016.

The stock gained 9.76% over the past one month till 1 June 2017, outperforming the Sensexs 4.08% rise. The scrip had outperformed the market in past one quarter, rising 35.54% as against Sensexs 7.43% rise. The scrip had also outperformed the market in past one year, gaining 30.43% as against Sensexs 16.56% rise.

The small-cap company has an equity capital of Rs 93.32 crore. Face value per share is Rs 2.

Hotel Leelaventure further said that, however, no binding agreement has been signed with any party as on date.

The company issued the clarification after stock exchanges sought clarification from the company after stock reacted sharply to reports suggesting Marigold Capital and Investments is likely to buy Leela Groups 326-room hotel in Chennai.

Marigold Capital and Investment is an American private equity fund and is looking to buy the hotel for around Rs 700 crore, report had added.

Marigold Capital and Investments specialises in acquiring debt-ridden hotels and commercial real estate properties and turning them into profitable businesses.

Hotel Leelaventure reported net profit of Rs 13.42 in Q4 March 2017 compared with net loss of Rs 228.87 crore in Q4 March 2016. Net sales rose 2.3% to Rs 198.35 crore in Q4 March 2017 over Q4 March 2016.

Hotel Leelaventure is a leading Indian luxury hospitality group founded in 1986.

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Muthoot Capital Services hits record high
Jun 02,2017

The announcement was made during market hours today, 2 June 2017.

Meanwhile, the S&P BSE Sensex was up 116.14 points, or 0.37% at 31,253.73. The S&P BSE Small-Cap index was up 83.49 points, or 0.55% at 15,317.73.

On the BSE, 3,463 shares were traded on the counter so far as against the average daily volumes of 11,917 shares in the past one quarter. The stock had hit a high of Rs 486 so far during the day, which is also its record high. The stock had hit a low of Rs 454 so far during the day. The stock had hit a 52-week low of Rs 170.65 on 13 June 2016.

The stock had outperformed the market over the past one month till 1 June 2017, advancing 8.55% compared with the Sensexs 4.08% rise. The scrip had also outperformed the market over the past one quarter advancing 68.6% as against the Sensexs 7.43% rise. The scrip had also outperformed the market over the past one year advancing 149.89% as against the Sensexs 16.56% rise.

The small-cap company has equity capital of Rs 12.47 crore. Face value per share is Rs 10.

Muthoot Capital Services announced that the company has fixed Tuesday, 13 June 2017 as the record date for the purpose of ascertaining the eligibility of shareholders for issuance of bonus shares in the ratio 1:10 i.e. one bonus share for every ten held.

Muthoot Capital Services net profit rose 61.9% to Rs 11.12 crore on 25.8% increase in total income to Rs 79.80 crore in Q4 March 2017 over Q4 March 2016.

Muthoot Capital Services is a non-banking financial company (NBFC). Its portfolio includes commercial and consumer finance products like vehicle loans, gold loans, loans against property, bonds, deposits, investment products and advisory services among others. Apart from these, the company also disburses loans against property, shares, gold ETFs, SME loans, mortgage loans, leasing & hire purchase loans and bill discounting.

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Larsen & Toubro fixes record date
Jun 02,2017

Larsen & Toubro has fixed 14th July 2017 as the record date for the purpose of Bonus Issue.

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Lloyd Electric & Engineering fixes record date for Special Dividend
Jun 02,2017

Lloyd Electric & Engineering has fixed 09th June 2017 as the record date for the purpose of payment of Special Dividend.

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Outcome of Siddhi Vinayak Shipping Corporation
Jun 02,2017

The Board of Siddhi Vinayak Shipping Corporation at the meeting held on 02nd June 2017 has approved the appointment of Mr. Bhavesh Vaghasiya as Company Secretary and Compliance Officer of the company w.e.f. 02 June 2017 and cessation of Ankita Jain as a Company Secretary and Compliance Officer of the Company.

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Manappuram Finance fixes record date
Jun 02,2017

Manappuram Finance has fixed 06th June 2017 as the record date for the purpose of payment of Fourth Interim Dividend.

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Muthoot Capital Services fixes record date
Jun 02,2017

Muthoot Capital Services has fixed 13th June 2017 as the record date for the purpose of Bonus Issue.

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Network fixes record date for reduction of share capital
Jun 02,2017

Network has fixed 12th June 2017 as the record date for the purpose of reduction of share capital of the Company.

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Outcome of board meeting of Koa Tools India
Jun 02,2017

The Board of Directors of Koa Tools India at the meeting held on 1 May 2017 have approved the appointment of Mr. Abhishek Joshi as a full-fledged director of the Company, convening and holding the Extraordinary General Meeting of the Company on 29th May 2017, and grant authority to Narayan Dutt Tiwari to verify and file all the documents and forms with the Registrar of Companies.

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Dwarikesh Sugar gets sweeter after board approves stock split
Jun 02,2017

The announcement was made during market hours today, 2 June 2017.

Meanwhile, the S&P BSE Sensex was up 140.16 points or 0.45% to 31,262.38. The S&P BSE Small-Cap index was up 83.16 points or 0.55% to 15,317.40.

On the BSE, 76,602 shares were traded in the counter so far as against average daily volume of 61,103 shares in the past one quarter. The stock had hit high of Rs 465.90 and low of Rs 444.60 so far during the trading session. The stock had hit a record high of Rs 503.50 on 21 April 2017. The stock had hit 52-week low of Rs 191.60 on 1 June 2016.

The stock has gained 6.82% in three sessions to its ruling price of Rs 453.40, from a close of Rs 424.45 on 30 May 2017.

The stock fell 5.78% over the past one month till 1 June 2017, underperforming the Sensexs 4.08% rise. The scrip had, however, outperformed the market in past one quarter, rising 9.95% as against Sensexs 7.43% rise. The scrip had also outperformed the market in past one year, jumping 120.26% as against Sensexs 16.56% rise.

The small-cap company has equity capital of Rs 18.83 crore. Face value per share is Rs 10.

Dwarikesh Sugar Industries net profit fell 11.4% to Rs 46.82 crore on 91.2% rise in net sales to Rs 440.37 crore in Q4 March 2017 over Q4 March 2016.

Dwarikesh Sugar Industries is an integrated conglomerate primarily engaged in manufacture of sugar and allied products. From a humble beginning in 1993, Dwarikesh now has a strong presence in diversified fields such as sugar manufacturing, power and ethanol/ industrial alcohol production.

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GMR Infrastructure leads gainers in A group
Jun 02,2017

GMR Infrastructure jumped 20.74% to Rs 18.05 at 14:07 IST. The stock topped the gainers in the BSEs A group. On the BSE, 2.12 crore shares were traded on the counter so far as against the average daily volumes of 15.97 lakh shares in the past two weeks.

GVK Power & Infrastructure surged 16.76% to Rs 6.06. The stock was the second biggest gainer in A group. On the BSE, 22.78 lakh shares were traded on the counter so far as against the average daily volumes of 6.09 lakh shares in the past two weeks.

Bayer CropScience gained 8.97% at Rs 4,968.10. The stock was the third biggest gainer in A group. On the BSE, 6,860 shares were traded on the counter so far as against the average daily volumes of 1,784 shares in the past two weeks.

Hindustan Construction Company advanced 7.53% at Rs 44.25. The stock was the fourth biggest gainer in A group. On the BSE, 33.58 lakh shares were traded on the counter so far as against the average daily volumes of 13.74 lakh shares in the past two weeks.

Jaiprakash Associates rose 5.09% to Rs 12.81. The stock was the fifth biggest gainer in A group. On the BSE, 66.68 lakh shares were traded on the counter so far as against the average daily volumes of 1.04 crore shares in the past two weeks.

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Somany Ceramics terminates JV agreement with Keraben Grupo S.A.
Jun 02,2017

Somany Ceramics announced that the Joint Venture Agreement with Keraben Grupo S.A. which was entered into in the year 2006 for the purpose of promotion, marketing, production and distribution of floor and ceramic tiles produced by SCL with technical know-how and/or technical assistance design from Keraben has been terminated with effect from 1st June 2017.

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Crompton Greaves Consumer Electricals spurts after bulk deal
Jun 02,2017

Meanwhile, the S&P BSE Sensex was up 140.64 points, or 0.45%, to 31,278.23

Bulk deal boosted volume on the scrip. On the BSE, so far 9.34 lakh shares were traded in the counter, compared with average daily volumes of 2.28 lakh shares in the past one quarter. The stock hit a high of Rs 246 in intraday trade so far, which is record high for the counter. The stock had hit a low of Rs 234 so far during the day. The stock hit a 52-week low of Rs 130.05 on 8 June 2016.

The stock rose 7.38% over the past one month till 1 June 2017, outperforming the Sensexs 4.08% rise. The scrip also outperformed the market in past one quarter, rising 23.2% as against Sensexs 7.43% rise. The scrip had also outperformed the market in past one year, surging 67.94% as against Sensexs 16.56% rise.

The large-cap company has equity capital of Rs 125.35 crore. Face value per share is Rs 2.

Crompton Greaves Consumer Electricals net profit rose 29.77% to Rs 86.44 crore on 7.44% growth in net sales to Rs 1076.15 crore in Q4 March 2017 over Q4 March 2016.

Crompton Greaves Consumer Electricals manufactures and markets a wide spectrum of consumer products ranging from fans, light sources and luminaires, pumps and household appliances, such as geysers, mixer grinders, toasters and irons.

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Fitch: Retail & Distribution Space to Converge Due to E-Commerce
Jun 02,2017

The growth of e-commerce and the increasing emphasis on delivery speed as well as pick-up services for retail goods will likely precipitate a convergence of industrial distribution and retail real estate, according to Fitch Ratings.

Ongoing changes for retail real estate and industrial/distribution space have put the future role of shopping centers and lower-quality malls in question. E-commerce continues to take share from bricks and mortar retail, resulting in tenant and retail property softness. We believe well-located retail properties and REITs with portfolios centered on consumer demographics will see continued demand as delivery and pickup services and an increased focus on demographics gain momentum.

Retail real estate sites and e-commerce last mile distribution sites now essentially serve the same purpose - the distribution (or staging) of goods for sale to the end user. One has a delivery focus but without public access, the other has public access but without a delivery function. Retail centers that exhibit the best demographics, which include per capita income and population density, will be most easily repositioned and most capable of managing the secular shift in how goods are sold and purchased in the 21st century.

Owners of infill retail locations that can also function as delivery and pickup locations - retail distribution (or ReDi Facilities) - will likely be winners as this convergence accelerates. The need to distinguish between an attractive retail or last mile distribution site - zoning notwithstanding - will become less meaningful as the function of the real estate is the same: providing a way to distribute goods to customers. The old real estate axiom, Location, Location, Location applies, possibly now more than ever.

Community shopping center and regional mall values have historically been measured by their proximity to population density and the regions per capita income. While these measures will continue to determine the attractiveness of a site, last mile distribution and pickup purposes will also be considered in drawing consumer foot traffic and buying power.

In a rapidly changing retail world, lenders, investors and operators will have to refocus their attention to demographics. When it comes to last mile retail distribution, underwriting on location (based on consumer demographics) may take on as meaningful importance as in-place NOI.

With the advent of Uber and ride sharing and the eventual development of self-driving cars, some REITs are discussing what they can do with potential excess parking facilities. Depending on zoning and the configuration of a shopping center, using excess parking facilities or underutilized retail space to develop small scale last mile delivery and pickup distribution facilities may be an option.

If the alternative is an antiquated or failing center in a municipality, zoning authorities and their communities will eventually be compelled to consider zoning changes allowing small scale distribution facilities at current retail zoned sites or face the prospects of a blighted center, lost jobs and tax revenue. Fitch expects real estate owners will find ways to make mixed-use retail / distribution sites palatable for residents.

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