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Volumes jump at Gillette India counter
May 08,2017

Gillette India clocked volume of 10,000 shares by 13:03 IST on BSE, a 17.33-times surge over two-week average daily volume of 1,000 shares. The stock jumped 8.42% to Rs 4,779.60.

Walchandnagar Industries notched up volume of 3.28 lakh shares, a 11.76-fold surge over two-week average daily volume of 28,000 shares. The stock rose 9.85% to Rs 162.30.

Eros International Media saw volume of 18.83 lakh shares, a 7.53-fold surge over two-week average daily volume of 2.50 lakh shares. The stock rose 4.59% to Rs 227.85.

Ambuja Cements clocked volume of 17.77 lakh shares, a 5.29-fold surge over two-week average daily volume of 3.36 lakh shares. The stock rose 6.74% to Rs 262.90.

HCL Technologies saw volume of 2.46 lakh shares, a 3.70-fold rise over two-week average daily volume of 67,000 shares. The stock rose 0.56% to Rs 832.20.

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Chambal Fertilisers & Chemicals resumes operations at Gadepan - II
May 08,2017

Chambal Fertilisers & Chemicals announced that it has resumed operations at its plant at Gadepan, District Kota, Rajasthan on 07 May 2017.

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NAFED procures more than 8.76 Lakh MTs of Pulses in 2016-17
May 08,2017

NAFED, a National Level Cooperative Marketing Federation of India, has set a record of procurement of Pulses and Oilseeds during the year 2016-17. NAFED has emerged as the leading agency of the Government of India for undertaking procurement of Pulses and Oilseeds in the country. During the financial year just ended, it has achieved procurement of more than 8.76 Lakh MTs of Pulses (Gram 0.20 Lakh MTs, Masoor 0.03 Lakh MTs, Moong 1.29 Lakh MTs, Urad 0.59 MTs and Toor 6.65 Lakh MTs) and more than 2.20 Lakh MTs of Groundnut, Copra and other oilseeds and benefitted the farming community at large by providing them remunerative price for their produce and helping the country in creating buffer stocks and stabilizing the prices of Pulses and Oilseeds.

NAFED has also started disposal of the buffer stocks. A substantial quantity would be supplied to Para-military forces and Defence Sector and also State Government as per their requirements under PDS and other such schemes.

NAFED has undertaken procurement of various commodities to the tune of Rs 5916.00 Crore approximately in this year and earned tentative profit of Rs. 106.00 Crore before interest which is the highest in the last decade and helped turn around financially. The Federation has strongly positioned itself as the n++Pulse Armn++ of the Government.

During the current year also, procurement of Rabi Oilseeds and Pulses such as Mustard seeds, Sunflower seed, Gram, Masoor etc. has started and NAFED has already procured 2.95 Lakh MTs upto 30th April, 2017.

The Financial Package for NAFED is also under active consideration of the Govt. of India and it is likely that a CCEA note would be placed in May, 2017 for approval of the Cabinet.

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Caplin Point advances after USFDA nod for TN plant
May 08,2017

The announcement was made during market hours today, 8 May 2017.

Meanwhile, the S&P BSE Sensex was up 93.46 points or 0.31% at 29,952.26. The S&P BSE Mid-Cap index was up 83.11 points, or 0.56% at 14,801.59

On BSE, so far 11,000 shares were traded in the counter as against average daily volume of 7,893 shares in the past one quarter. The stock hit a high of Rs 411.95 and a low of Rs 391 so far during the day. The stock hit a record high of Rs 459.70 on 7 February 2017. The stock hit a 52-week low of Rs 184 on 12 May 2016.

The mid-cap company has equity capital of Rs 15.12 crore. Face value per share is Rs 2.

Caplin Point said that the company has received the Establishment Inspection Report (EIR) from USFDA (United States Food and Drug Administration) for inspection carried out during 21 October 2016 to 27 October 2016, at its sterile injectable plant at Gummidopoondi, Tamil Nadu (TN).

Caplin Point Laboratories Chairman C C Paarthipan said that the EIR will pave the way for the companys entry into the largest pharma market in the world.

Caplin Point Laboratories consolidated net profit rose 48.45% to Rs 23.90 crore on 30.44% growth in total income to Rs 104.99 crore in Q3 December 2016 over Q3 December 2015.

Caplin Point Laboratories is a niche pharmaceutical company, catering predominantly to emerging markets of Latin America and Africa.

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Export of Oilmeals up by 19% in April 2017-SEA
May 08,2017

The overall export of oilmeals during April 2017, provisionally reported at 135,474 tons compared to 113,978 tons in April 2016 i.e Up by 19%, as per the data of oilmeals complied by Solvent Extractors Association (SEA) of India for the month of April 2017.

Indian Competitiveness of soybean meal in international market further reduced, resulting in to slowed down of shipment from India. This also affected the crushing. The recent increased in Indian soya oil imports is also exerting pressure on domestic soya oil prices, which together with soybean sales is squeezing crush margins.

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Vikas EcoTech hits all-time high after order win
May 08,2017

The announcement was made during trading hours today, 8 May 2017.

Meanwhile, the S&P BSE Sensex was up 95.04 points, or 0.32% to 29,953.84.

On the BSE, 11.50 lakh shares were traded in the counter so far, compared with average daily volumes of 10.22 lakh shares in the past one quarter. The stock had hit a high of Rs 25.45 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 24.50 so far during the day. The stock hit a 52-week low of Rs 10.85 on 1 June 2016.

The stock had outperformed the market over the past one month till 5 May 2017, rising 12.06% compared with 0.23% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 46.36% as against Sensexs 5.73% rise.

The small-cap specialty chemicals company has equity capital of Rs 30.56 crore. Face value per share is Re 1.

Vikas Ecotech announced that it won a commercial order to supply Organotin stabilizers from Mexichem. The Mexico-headquartered company is a worldwide leader in plastic pipes, and one of the largest chemical and petrochemical companies, with more than 50 years of experience in Latin America.

This is Vikas Ecotechs first commercial order from the petrochemical giant through its Columbian subsidiary. The Organotin stabilizer supplied by Vikas Ecotech will be used in the manufacturing of food-grade PVC Compounds/ Pipes.

Vikas EcoTech had commenced trial orders last year for Organotin with Mexichem. This commercial order from a Mexichems Columbian subsidiary is the culmination of that effort. Vikas EcoTechs Organotin stabilizers are non-toxic additives that meet stringent global standards of quality and efficacy. This order will have a multiplier effect and translate into additional demand for Vikas Ecotechs products in South America.

Net profit of Vikas Ecotech declined 32.61% to Rs 7.46 on 1.64% rise in net sales to Rs 84.07 crore in Q3 December 2016 over Q3 December 2015.

Vikas EcoTech is a specialty chemicals and plastic & rubber additives player. It provides IPR-driven compounds and specialty chemicals that are non-toxic. It derives a majority of its revenues from PVC industry additives like Organotin stabilizers and from specialty compounds.

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Board of Great Eastern Shipping Company recommends final dividend
May 08,2017

Great Eastern Shipping Company announced that the Board of Directors of the Company at its meeting held on 5 May 2017, inter alia, have recommended the final dividend of Rs 6.5 per equity Share (i.e. 65%) , subject to the approval of the shareholders.

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Board of Orient Cement recommends final dividend
May 08,2017

Orient Cement announced that the Board of Directors of the Company at its meeting held on 5 May 2017, inter alia, have recommended the final dividend of Rs 0.5 per equity Share (i.e. 50%) , subject to the approval of the shareholders.

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Board of Industrial & Prudential Invest. Co. recommends final dividend
May 08,2017

Industrial & Prudential Invest. Co. announced that the Board of Directors of the Company at its meeting held on 5 May 2017, inter alia, have recommended the final dividend of Rs 25 per equity Share (i.e. 225%) , subject to the approval of the shareholders.

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Industrial & Prudential Invest. Co. to hold AGM
May 08,2017

Industrial & Prudential Invest. Co. announced that the 101th Annual General Meeting (AGM) of the company will be held on 1 August 2017.

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Hindustan Construction Company to hold AGM
May 08,2017

Hindustan Construction Company announced that the 91st Annual General Meeting (AGM) of the company will be held on 6 July 2017.

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The Reserve Bank of India (RBI) has issued new guidelines to quicken stressed asset resolutions
May 08,2017

The Reserve Bank of India (RBI) has issued new guidelines to quicken stressed asset resolutions through the joint lender forums (JLFs) comprising creditors to borrowers who are in default.

The Framework for Revitalising Distressed Assets in the Economy - Guidelines on Joint Lenders Forum (JLF) and Corrective Action Plan (CAP)n++ aims at early identification of stressed assets and timely implementation of a corrective action plan (CAP) to preserve the economic value of stressed assets.

In order to ensure that the CAP is finalised and formulated in an expeditious manner, the Framework specifies various timelines within which lenders have to decide and implement the CAP. The Framework also contains disincentives, in the form of asset classification and accelerated provisioning where lenders fail to adhere to the provisions of the Framework. Despite this, delays have been observed in finalising and implementation of the CAP, leading to delays in resolution of stressed assets in the banking system.

The CAP can also include resolution by way of Flexible Structuring of Project Loans, Change in Ownership under Strategic Debt Restructuring, Scheme for Sustainable Structuring of Stressed Assets (S4A), etc.

Lenders must scrupulously adhere to the timelines prescribed in the Framework for finalising and implementing the CAP. To facilitate timely decision making, it has been decided that, henceforth, the decisions agreed upon by a minimum of 60 percent of creditors by value and 50 percent of creditors by number in the JLF would be considered as the basis for deciding the CAP, and will be binding on all lenders, subject to the exit (by substitution) option available in the Framework. Lenders shall ensure that their representatives in the JLF are equipped with appropriate mandates, and that decisions taken at the JLF are implemented by the lenders within the timelines.

The RBI further stated that:

(i) the stand of the participating banks while voting on the final proposal before the JLF shall be unambiguous and unconditional;

(ii) any bank which does not support the majority decision on the CAP may exit subject to substitution within the stipulated time line, failing which it shall abide the decision of the JLF;

(iii) the bank shall implement the JLF decision without any additional conditionalities; and

(iv) the Boards shall empower their executives to implement the JLF decision without requiring further approval from the Board.

Any non-adherence to these instructions and timelines specified under the Framework shall attract monetary penalties on the concerned banks under the provisions of the Banking Regulation Act 1949.

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G E Shipping sinks after reverse turnaround in Q4
May 08,2017

The result was announced after market hours on Friday, 5 May 2017.

Meanwhile, the S&P Sensex was up 88.42 points, or 0.3% at 29,947.22. The S&P BSE Mid-Cap index was up 97.75 points, or 0.66% at 14,816.23.

On the BSE, 51,000 shares were traded on the counter so far as against the average daily volumes of 59,484 shares in the past one quarter. The stock had hit a high of Rs 419 and a low of Rs 401.35 so far during the day.

The stock had hit a 52-week high of Rs 477 on 21 April 2017 and a 52-week low of Rs 296.60 on 24 June 2016. The stock had outperformed the market over the past 30 days till 5 May 2017, rising 1.05% compared with 0.23% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 9.44% as against Sensexs 5.73% rise.

The mid-cap company has equity capital of Rs 150.78 crore. Face value per share is Rs 10.

Great Eastern Shipping Companys consolidated total income rose 0.29% to Rs 874.57 crore in Q4 March 2017 over Q4 March 2016.

Great Eastern Shipping Company has two main business: shipping and offshore. The shipping business is involved in transportation of crude oil, petroleum products, gas and dry bulk commodities. The offshore business services to the oil companies in carrying out offshore exploration and production activities, through its subsidiary Greatship (India).

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Gokul Agro Resources advances after reporting decent Q4 earnings
May 08,2017

The result was announced after market hours on Friday, 5 May 2017.

Meanwhile, the S&P BSE Sensex was up 131.54 points, or 0.44% at 29,990.34. The S&P BSE Small-cap index was up 106.23 points, 0.69% at 15,462.07.

On the BSE, 80,000 shares were traded on the counter so far as against the average daily volumes of 1.58 lakh shares in the past one quarter. The stock had hit a high of Rs 32.40 and a low of Rs 30.70 so far during the day.

The stock had hit a record high of Rs 34.40 on 8 March 2017 and a 52-week low of Rs 10.02 on 5 May 2016. The stock had outperformed the market over the past one month till 5 May 2017, advancing 11.18% compared with the Sensexs 0.39% fall. The scrip had also outperformed the market over the past one quarter advancing 42.47% as against the Sensexs 5.73% rise.

The small-cap company has equity capital of Rs 26.38 crore. Face value per share is Rs 2.

Gokul Agro Resources is a FMCG company with manufacturing and processing facilities for various kinds of edible and non-edible oils and meals.

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Eicher Motors hits record high after good Q4 results
May 08,2017

The result was announced after market hours on Friday, 5 May 2017.

Meanwhile, the S&P BSE Sensex was up 130.58 points, or 0.44% to 29,989.38.

On the BSE, 2,968 shares were traded in the counter so far, compared with average daily volumes of 4,523 shares in the past one quarter. The stock had hit a high of Rs 26,999 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 26,173.25 so far during the day. The stock hit a 52-week low of Rs 18,006 on 24 June 2016.

The stock had outperformed the market over the past one month till 5 May 2017, rising 1.12% compared with 0.23% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 10.50% as against Sensexs 5.73% rise.

The large-cap company has equity capital of Rs 27.21 crore. Face value per share is Rs 10.

Eicher Motors consolidated EBITDA (earnings before interest, taxes, depreciation and amortization) rose 30.9% to Rs 585 crore in Q4 March 2017 over Q4 March 2016.

Royal Enfield posted its best ever performance in Q4 March 2017. In this quarter, Royal Enfield sold 178,345 motorcycles, registering its best ever quarterly sales and posting a growth of 20.8% over 147,618 motorcycles sold in the same period last year. Royal Enfield also posted its highest ever quarterly income from operations at Rs 1888 crore (net of excise duty) for Q4 March 2017, a growth of 23.2% over the corresponding period last year.

Eicher Motors is a leading player in the Indian automotive space. Eicher Motors owns the iconic Royal Enfield motorcycle business, which leads the premium motorcycle segment in India. The companys joint venture with the Volvo group, VE Commercial Vehicles, designs, manufactures and markets trucks and buses. The companys joint venture with US-based Polaris Industries Inc launched the Multix, a new 3-in-1 vehicle purpose built for the independent businessman in June 2015.

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