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Tata Power gains after expansion of solar unit
Mar 15,2017

The announcement was made during trading hours today, 15 March 2017.

Meanwhile, the S&P BSE Sensex was down 32.72 points, or 0.11% to 29,409.91.

On the BSE, 3.41 lakh shares were traded in the counter so far, compared with average daily volumes of 4.31 lakh shares in the past one quarter. The stock had hit a high of Rs 85.60 and a low of Rs 83.40 so far during the day. The stock hit a 52-week high of Rs 86 on 21 February 2017. The stock hit a 52-week low of Rs 58 on 18 March 2016.

The stock had underperformed the market over the past one month till 14 March 2017, rising 0.12% compared with 3.85% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 6.31% as against Sensexs 10.67% rise.

The large-cap company has equity capital of Rs 270.48 crore. Face value per share is Re 1.

Keeping up with Government of Indias progressive Make in India plan of domestic production with enhanced efficiency of a solar cells and modules, Tata Power Solar, Indias largest integrated solar company, announced a significant expansion and modernisation of its cell and module manufacturing facility in Bengaluru. The two-stage expansion doubled the companys module capacity to 400 megawatts (MW) from 200 MW, and increased its cell manufacturing capacity by 65% from 180 MW to 300 MW.

The Governments renewable energy mission of 100 gigawatts (GW) by 2022 has given significant impetus to the industry. There is a strong intent from the government to promote domestic solar manufacturing and facilitate the sectors growth through Make in India cells and modules, Tata Power Solar said in a statement.

Tata Power Solar, with 27 years of deep domain expertise, is one of the pioneering solarmanufacturers n++n the world and Indias largest specialised EPC player. Headquartered in Bangalore, Tata Power Solar now operates independently as a wholly-owned subsidiary of Tata Power.

On a consolidated basis, net profit of Tata Power Company rose 38.30% to Rs 599.20 crore on 8.68% decline in net sales to Rs 6677.89 crore in Q3 December 2016 over Q3 December 2015.

Tata Power is Indias largest integrated power company with a significant international presence. The company has a presence in all the segments of the power sector viz generation (thermal, hydro, solar and wind), transmission, distribution and trading.

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UCO Bank gains after distribution tieups
Mar 15,2017

The announcement was made during trading hours today, 15 March 2017.

Meanwhile, the S&P BSE Sensex was up 23.12 points, or 0.08% to 29,465.75.

On the BSE, 89,000 shares were traded in the counter so far, compared with average daily volumes of 1.32 lakh shares in the past one quarter. The stock had hit a high of Rs 36.50 and a low of Rs 35.45 so far during the day. The stock hit a 52-week high of Rs 46.60 on 15 July 2016. The stock hit a 52-week low of Rs 29.50 on 9 November 2016.

The stock was flat over the past one month till 14 March 2017, underperforming the Sensexs 3.85% rise in the same period. The scrip had also underperformed the market in past one quarter, rising 5.63% as against Sensexs 10.67% rise.

The mid-cap company has equity capital of Rs 1559.73 crore. Face value per share is Rs 10.

UCO Bank signed corporate agency tie-up agreements with Future General India Insurance Company and Liberty Videocon General Insurance Company for distribution of general insurance products at its branches all over the country for bancassurance business. These companies will be partners, in addition to the existing partner of the bank for general insurance business, the bank said in a statement.

UCO Bank reported net loss of Rs 437.09 crore in Q3 December 2016 as against net loss of Rs 1497.01 crore in Q3 December 2015. Operating income declined 1.4% to Rs 4864.21 crore in Q3 December 2016 over Q3 December 2015.

The Government of India held 76.67% stake in UCO Bank end December 2016.

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Trade Infrastructure for Export Scheme (TIES) launched
Mar 15,2017

Commerce and Industry Minister Smt. Nirmala Sitharaman launched the Trade Infrastructure for Export Scheme (TIES). Speaking at the event she said the Scheme is focussed on addressing the needs of the exporters. Smt. Sitharaman said the focus is not just to create infrastructure but to make sure it is professionally run and sustained. The Minister added that there will be an Empowered Committee to periodically review the progress of the approved projects in the Scheme and will take necessary steps to ensure achievement of the objectives of the Scheme. She said the proposals of the implementing agencies for funding will be considered by an inter ministerial Empowered Committee specially constituted for this Scheme to be chaired by the Commerce Secretary. While appraising the project the justification, including the intended benefit in terms of addressing the specific export bottlenecks, would be evaluated.

Commerce Secretary Smt. Rita Teaotia said the scheme would provide assistance for setting up and up-gradation of infrastructure projects with overwhelming export linkages like the Border Haats, Land customs stations, quality testing and certification labs, cold chains, trade promotion centres, dry ports, export warehousing and packaging, SEZs and ports/airports cargo terminuses. She said last and first mile connectivity projects related to export logistics will also be considered.

About TIES- After delinking of the ASIDE Scheme in 2015, the State Governments have been consistently requesting the support of the Centre in creation of export infrastructure. This support is imperative to act as an inducement to the States to channelize funds from their increased devolution towards creation of export infrastructure. The objective of the proposed scheme is to enhance export competitiveness by bridging gaps in export infrastructure, creating focused export infrastructure, first mile and last mile connectivity for export-oriented projects and addressing quality and certification measures.

The Central and State Agencies, including Export Promotion Councils, Commodities Boards, SEZ Authorities and Apex Trade Bodies recognised under the EXIM policy of Government of India; are eligible for financial support under this scheme.

The Central Government funding will be in the form of grant-in-aid, normally not more than the equity being put in by the implementing agency or 50% of the total equity in the project. (In case of projects located in North Eastern States and Himalayan States including J&K, this grant can be upto 80% of the total equity).The grant in aid shall, normally, be subject to a ceiling of Rs 20 Cr for each infrastructure project.

The implementing agencies shall provide details of the financing tie-ups for the projects which will be considered before approval of the project. Disbursement of funds shall be done after financial closure is achieved.

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Import of Vegetable Oils down by 8% in November 2016-February 2017
Mar 15,2017

The Solvent Extractors Association of India has compiled the Import data of Vegetable Oils (edible & non-edible) for the month of February 2017. Import of vegetable oils during February 2017 is reported at 1,270,443 tons compared to 1,082,009 tons in February 2016 i.e. up by 17%, consisting of 1,234,255 tons of edible oils and 36,188 tons of non-edible oils. The overall import of vegetable oils during first four months of current oil year 2016-17, Nov.16 to Feb.17 is reported at 4,680,451 tons compared to 5,098,400 tons i.e. lesser by 8%.

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Biocon gains after reaffirming revenue guidance from biosimilars
Mar 15,2017

Meanwhile, the S&P BSE Sensex was up 10.61 points, or 0.04% to 29,453.24.

On the BSE, 51,000 shares were traded in the counter so far, compared with average daily volumes of 73,361 shares in the past one quarter. The stock had hit a high of Rs 1,124.90 and a low of Rs 1,107.55 so far during the day.

The stock hit a 52-week high of Rs 1,144.20 on 28 February 2017. The stock hit a 52-week low of Rs 455 on 18 March 2016.

The stock had underperformed the market over the past one month till 14 March 2017, rising 1.03% compared with 3.85% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 17.97% as against Sensexs 10.67% rise.

The large-cap bio-pharmaceutical company has equity capital of Rs 100 crore. Face value per share is Rs 5.

Biocons partner Mylan N.y. issued a press release on 13 March 2017 stating that Mylan had agreed to the terms of a global settlement with Genentech, Inc. and F. Hoffmann-La Roche in relation to patents for Herceptin (trastuzumab), which provides Mylan with global licenses for its trastuzumab product.

Biocon said it received multiple queries seeking comments on this press release and its impact on Biocon. The company clarified at the fag end of the trading session yesterday, 14 March 2017, that the settlement and license agreement referred in the aforementioned press release is between Mylan N.y. and Genentech, Inc. / F. Hoffmann-La Roche. As stated in the release, the terms of the settlement and license agreement are confidential and Biocon is not in a position to offer any further details other than those contained in the release.

Further, Biocon reaffirmed its previously stated guidance of $200 million in revenues from biosimilars in financial year ending March 2019 (FY19).

On a consolidated basis, net profit of Biocon rose 64.55% to Rs 171.30 crore on 29.59% rise in net sales to Rs 1022.50 crore in Q3 December 2016 over Q3 December 2015.

Biocon is Indias largest and fully-integrated, innovation-led biopharmaceutical company.

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Volumes jump at Healthcare Global counter
Mar 15,2017

Healthcare Global Enterprises clocked volume of 10.82 lakh shares by 14:11 IST on BSE, a 368.02-times surge over two-week average daily volume of 3,000 shares. The stock was up 0.23% at Rs 241.

Metroglobal notched up volume of 11.14 lakh shares, a 307.78-fold surge over two-week average daily volume of 4,000 shares. The stock lost 1.54% at Rs 86.25.

Religare Enterprises saw volume of 10.85 lakh shares, a 193.63-fold surge over two-week average daily volume of 6,000 shares. The stock surged 3.95% at Rs 229.

Oberoi Realty clocked volume of 8.89 lakh shares, a 61.55-fold surge over two-week average daily volume of 14,000 shares. The stock rose 1.21% at Rs 351.50.

Arfin India saw volume of 1.22 lakh shares, a 60.57-fold rise over two-week average daily volume of 2,000 shares. The stock lost 1.21% at Rs 491.

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Indian Bank gains on fund raising plan
Mar 15,2017

The announcement was made during trading hours today, 15 March 2017.

Meanwhile, the S&P BSE Sensex was down 19.43 points, or 0.07% to 29,423.20.

On the BSE, 24,000 shares were traded in the counter so far, compared with average daily volumes of 72,337 shares in the past one quarter. The stock had hit a high of Rs 280.35 and a low of Rs 272.25 so far during the day. The stock hit a 52-week high of Rs 310 on 9 February 2017. The stock hit a 52-week low of Rs 84.80 on 12 May 2016.

The stock had underperformed the market over the past one month till 14 March 2017, falling 4.71% compared with 3.85% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 13.46% as against Sensexs 10.67% rise.

The large-cap state-run bank has equity capital of Rs 480.29 crore. Face value per share is Rs 10.

The board of Indian Bank, scheduled to meet on 18 March 2017, will consider a proposal to raise further capital funds by the bank.

Net profit of Indian Bank rose 670.4% to Rs 373.48 crore on 2.5% decline in operating income to Rs 4557.25 crore in Q3 December 2016 over Q3 December 2015.

Government of India currently holds 82.1% stake in Indian Bank (as on 31 December 2016).

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Delhi Airport adjudged the Best Airport in India and Central Asia
Mar 15,2017

Delhi International Airport, a GMR led consortium, announced that itsIndira Gandhi International Airport (IGIA) has been adjudged as the n++Best Airport in India and Central Asian++ by Skytrax at the World Airport Awards, held at Passenger Terminal EXPO in Amsterdam, Netherlands last night.

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Mipco Seamless Rings (Gujarat) announces resignation of CFO
Mar 15,2017

Mipco Seamless Rings (Gujarat) announced that a meeting of the Board of Directors of the Company was held on 15 March 2017 to consider the resignation of Siva Prasad Chukka as Chief Financial Officer of the company w.e.f. 15 March 2017

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Mishka Exim announces resignation of company secretary and compliance officer
Mar 15,2017

Mishka Exim announced that Shweta Bhardwaj has resigned from the post of Company Secretary with effect from close of Business Hours of 15 March 2017. Consequent to her resignation as Company Secretary, Bhardwaj also ceases to be the Compliance Officer of the Company.

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Twenty projects worth Rs 1,900 Crore approved for swift implementation of Namami Gange Programme in Uttarakhand, Bihar, Jharkhand and Delhi
Mar 15,2017

Picking up pace, projects worth nearly Rs 1,900 crore have been approved by the Executive Committee (EC) of National Mission for Clean Ganga. Out of 20 projects which were given EC approval, 13 are in Uttarakhand that includes creating new sewage treatment plants, upgrading existing STPs and laying of sewage networks in Haridwar at an estimated cost of approximately Rs 415 crore. Haridwar, one of the holiest cities of India, is thronged by millions of people every year. This approved plan is aimed at treating sewage water generated by not only citys 1.5 lakh local dwellers, but also by people who visit the holy place for various purposes. All these projects will be fully funded by the Central Government, including even the expenditure on operation and maintenance of these projects.

Among other projects approved in Uttarakhand are four pertaining to pollution abatement works for river Alakananda to ensure cleaner flow of the river downstream. This includes interception and diversion of drains along with creation of new small STPs at four crucial locations - Joshimath, Rudraprayag, Karnprayag and Kirti Nagar at an estimated cost of nearly Rs 78 crore. Apart from these, a major pollution abatement project for Ganga at Rishikesh has also been approved at an estimated cost of more than Rs 158 crore. Beginning with Rishikesh, municipal effluent gets mixed in the Ganga and to rid Ganga of impurities just before it hits the plains, this all-encompassing project for this city has been given a go-ahead, which would not only make sure tapping of all city drains in Rishikesh merging into the river but will also treat the sewage water for reuse. The construction of a new 26 MLD STP at Lakkar Ghat with online monitoring system has also been envisaged in this Rishikesh-specific project.

In the National Capital, a project to construct new state-of-the-art 564 MLD Okhla sewage treatment plant with best effluent standards has also been approved at an estimated cost of Rs 665 crore, which will replace the existing STPs phase-I, II, III and IV. Besides, two projects for laying new sewage pipelines in Pitampura and Kondli to prevent leakages have also been approved at an estimated cost of more than Rs 100 crore.

Sewage related works in Karmalichak in Patna and Rajmahal in Jharkhand have also been given green signal for a cost of over Rs 335 crore. To address the issue of pollution of Ganga in Varanasi, a city thronged by millions of pilgrims throughout the year, a project under Hybrid-Annuity PPP model worth almost Rs 151 crore has also been given EC approval.

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Salora International appoints director
Mar 15,2017

Salora International announced that Savitri Devi Jiwarajka has been appointed as an additional director on the Board of Company with effect from 15 March 2017.

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V-Mart Retail gets revision in credit ratings
Mar 15,2017

V-Mart Retail announced that ICRA has revised the credit ratings for bank facilities as follows -

Long term bank facilities - ICRA A+; Stable (Revised from ICRA A+; Stable)

Short term bank facilities - ICRA A1+ (Revised from ICRA A1)

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PVR leads losers on BSEs A group
Mar 15,2017

PVR declined 5.55% at Rs 1,369.80. The stock topped the losers in A group. On the BSE, 19,000 shares were traded on the counter so far as against the average daily volumes of 39,000 shares in the past two weeks.

Bajaj Electricals fell 2.24% at Rs 308.25. The stock was the second biggest loser in A group. On the BSE, 89,000 shares were traded on the counter so far as against the average daily volumes of 2.07 lakh shares in the past two weeks.

Polaris Consulting & Services slipped 1.82% at Rs 180.95. The stock was the third biggest loser in A group. On the BSE, 10,000 shares were traded on the counter so far as against the average daily volumes of 87,000 shares in the past two weeks.

TCS skid 2.26% at Rs 2,504.45. The stock was the fourth biggest loser in A group. On the BSE, 35,000 shares were traded on the counter so far as against the average daily volumes of 1.18 lakh shares in the past two weeks.

Infosys slipped 2.17% at Rs 1,012.50. The stock was the fifth biggest loser in A group. On the BSE, 56,000 shares were traded on the counter so far as against the average daily volumes of 1.39 lakh shares in the past two weeks.

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Bhel gains after plant kicks off operation
Mar 15,2017

The announcement was made during trading hours today, 15 March 2017.

Meanwhile, the S&P BSE Sensex was down 15.23 points, or 0.05% to 29,427.40.

On the BSE, 6.31 lakh shares were traded in the counter so far, compared with average daily volumes of 7.74 lakh shares in the past one quarter. The stock had hit a high of Rs 166.60 so far during the day, which is also a 52-week high for the counter. The stock had hit a low of Rs 161.45 so far during the day. The stock hit a 52-week low of Rs 105.10 on 15 March 2016.

The stock had outperformed the market over the past one month till 14 March 2017, rising 4.03% compared with 3.85% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 28.91% as against Sensexs 10.67% rise.

The large-cap company has equity capital of Rs 489.52 crore. Face value per share is Rs 2.

Bharat Heavy Electricals (Bhel) said it has commenced commercial operation of its first 800 megawatts (MW) unit - highest-rating coal-based supercritical thermal power plant. The milestone was achieved for the first unit of the 2x800 MW Yeramarus thermal power station of Raichur Power Corporation (RPCL), in Raichur district of Karnataka.

Significantly, the commercial operation of this unit also marks Bhels foray as a developer into the field of power generation. Karnataka Power Corporation (KPCL) and Bhel are the main equity partners of RPCL, the owner and operator of this power plant.

Bhel did complete design, engineering, manufacture, supply, erection and commissioning of this state-of-the-art supercritical project on turnkey basis. It has supplied all the critical equipment like boiler, turbine & generators, electricals, key packages of Balance of Plant, and has also carried out the associated civil works. The major equipment for the project has been manufactured by BHEL at its Haridwar, Trichy, Bhopal, Ranipet, Hyderabad, Jhansi, Thirumayam and Bengaluru plants, while the construction of the plant was undertaken by the companys Power Sector- Southern Region.

Bhel has supplied and executed 4,010 MW of coal based sets for KPCL and its joint ventures, which account for 95% of the utilitys coal-based installed capacity. BHEL is also presently executing KPCLs first gas-based combined cycle power project of 370 MW capacity involving a fuel-efficient advanced-class gas turbine at Yelahanka, Bengaluru.

Bhel reported net profit of Rs 93.54 crore in Q3 December 2016 as against net loss of Rs 1084.96 crore in Q3 December 2015. Net sales rose 18.3% to Rs 6187.48 crore in Q3 December 2016 over Q3 December 2015.

Bhel is an integrated power plant equipment manufacturer and one of the largest engineering and manufacturing company of its kind in India engaged in the design, engineering, manufacture, construction, testing, commissioning and servicing of a wide range of products and services for core sectors of the economy, viz. power, transmission, industry, transportation (railways), renewable energy, oil & gas, water and defence with over 180 products offerings to meet the needs of these sectors. The Government of India currently holds 63.06% stake in Bhel (as per the shareholding pattern as on 31 December 2016).

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