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Cupid surges on mulling fund raising
Dec 28,2016

The announcement was made during market hours today, 28 December 2016.

Meanwhile, the S&P BSE Sensex was up 140.05 points or 0.53% at 26,353.49.

On the BSE, 21,000 shares were traded on the counter so far as against the average daily volumes of 17,939 shares in the past one quarter. The stock had hit a high of Rs 314.30 and a low of Rs 289 so far during the day.

The stock had hit a 52-week high of Rs 453.80 on 30 December 2015 and a 52-week low of Rs 228.50 on 18 February 2016. It had underperformed the market over the past one month till 27 December 2016, sliding 1.31% compared with the Sensexs 0.39% fall. The scrip had, however, outperformed the market in the past one quarter, declining 6.59% as against the Sensexs 7.12% fall.

The small-cap company has equity capital of Rs 11.11 crore. Face value per share is Rs 10.

Cupids net profit rose 30.4% to Rs 5.36 crore on 40.5% growth in net sales to Rs 21.53 crore in Q2 September 2016 over Q2 September 2015.

Cupid is a leading manufacturer of quality male and female condoms.

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Globus Spirits gains after Bihar unit resumes operations
Dec 28,2016

The announcement was made during trading hours today, 28 December 2016.

Meanwhile, the BSE Sensex was up 104.10 points, or 0.40%, to 26,317.54.

On the BSE, so far 17,000 shares were traded in the counter, compared with average daily volumes of 1.15 lakh shares in the past one quarter. The stock had hit a high of Rs 87.40 and a low of Rs 83.40 so far during the day.

The stock hit a 52-week high of Rs 115.90 on 29 September 2016. The stock hit a 52-week low of Rs 50.30 on 29 February 2016. The stock had underperformed the market over the past 30 days till 27 December 2016, falling 13.09% compared with the 0.52% fall in the Sensex. The scrip had underperformed the market in past one quarter, falling 20.39% as against Sensexs 7.35% decline.

The small-cap company has equity capital of Rs 28.80 crore. Face value per share is Rs 10.

Globus Spirits said it resumed its operation and commenced its commercial production (with a production capacity of 80,000 bulk litre per day) on 2 December 2016 after removing all the technical bottlenecks at its unit at Jandoho in Bihar. The operations at the Bihar unit were disrupted since 5 September 2016 owing to flooding at the factory premises caused by heavy rains.

Net profit of Globus Spirits declined 97.62% to Rs 0.03 crore on 0.4% rise in net sales to Rs 161.74 crore in Q2 September 2016 over Q2 September 2015.

Globus Spirits is one of the leading players in the Indian alcoholic beverages industry. It caters to four important segments of the alcohol industry - Indian Made Indian Liquor (IMIL), Indian Made Foreign Liquor (IMFL), IMFL bottling and bulk alcohol.

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Religare Enterprises gains on plan to merge 11 units with itself
Dec 28,2016

The announcement was made after market hours yesterday, 27 December 2016.

Meanwhile, the BSE Sensex was up 84.56 points, or 0.32%, to 26,298.

On the BSE, so far 1,899 shares were traded in the counter, compared with average daily volumes of 4,080 shares in the past one quarter. The stock had hit a high of Rs 258.50 and a low of Rs 254 so far during the day.

The stock hit a 52-week high of Rs 319 on 30 December 2015. The stock hit a 52-week low of Rs 221.05 on 15 November 2016. The stock had underperformed the market over the past 30 days till 27 December 2016, falling 7.15% compared with the 0.52% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, falling 5.69% as against Sensexs 7.35% decline.

The mid-cap company has equity capital of Rs 178.33 crore. Face value per share is Rs 10.

The board of Religare Enterprises (REL) has approved a plan to merge 11 of its subsidiaries with REL. The proposed structure is aimed at streamlining the organization and is designed to allow REL to achieve its objective of following a focused, growth oriented strategy.

The units to be merged are: Religare Securities (excluding its broking business), Religare Commodity Broking, RGAM Investment Advisors, Religare Venture Capital, Religare Arts Investment Management, Religare Capital Finance, RGAM Capital India, Religare Investment Advisors, Religare Support Services, Religare Arts Initiative and Religare Capital Markets (India).

The new structure will reduce operational and administrative costs of maintaining multiple legal entities and focus resources on core businesses. The consolidation will not have an impact on the companys shareholding pattern.

Religare Enterprises reported net loss of Rs 39.54 crore in Q2 September 2016 as against net loss of Rs 13.90 crore in Q2 September 2015. Net sales declined 94.8% to Rs 0.27 crore in Q2 September 2016 over Q2 September 2015.

Religare Enterprises (REL) is the holding company for one of Indias leading diversified financial services groups. REL offers an integrated suite of financial services through its underlying subsidiaries and operating entities, including loans to SMEs, affordable housing finance, health insurance, capital markets and wealth management.

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Pharma stocks move north tracking weakness in rupee
Dec 28,2016

Meanwhile, the S&P BSE Sensex was up 86.37 points or 0.33% at 26,299.81. The S&P BSE Healthcare index was trading 1.19% higher, outperforming the Sensex.

Divis Laboratories (up 2.55%), Cadila Healthcare (up 1.74%), Glenmark Pharmaceuticals (up 1.7%), Ipca Laboratories (up 1.52%), Alkem Laboratories (up 1.39%), Dr Reddys Laboratories (up 1.33%), Wockhardt (up 1.19%), Aurobindo Pharma (up 1.1%), Lupin (up 0.99%), Cipla (up 0.82%), Sun Pharmaceutical Industries (up 0.78%) and Strides Shasun (up 0.24%) edged higher. GlaxoSmithkline Pharmaceuticals (down 0.06%) edged lower.

A weak rupee boosts the value of overseas earnings of pharma firms in local terms. Pharma companies derive substantial revenue from exports.

In the foreign exchange market, the partially convertible rupee was hovering at 68.215, compared with closing of 68.06 during the previous trading session.

The BSE Healthcare index had underperformed the market over the past one month till 27 December 2016, sliding 7.58% compared with the Sensexs 0.39% fall. The index had also underperformed the market in the past one quarter, declining 13.15% as against the Sensexs 7.12% fall.

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IT stocks firm up on weak rupee
Dec 28,2016

Meanwhile, the S&P BSE Sensex was up 93.18 points or 0.36% at 26,306.62.

Wipro (up 2.16%), Tech Mahindra (up 1.44%), HCL Technologies (up 1.23%), Persistent Systems (up 0.99%), Infosys (up 0.58%) edged higher. Oracle Financial Services Software fell 0.91%.

TCS rose 0.78% after the company announced that VersaCoId Logistics Services, Canadas largest end-to-end supply chain solutions company for temperature sensitive products has selected TAP, TCS procure to pay cloud solution, to manage their operating costs with greater efficiency. The announcement was made after market hours yesterday, 27 December 2016.

A weak rupee boosts revenue of IT firms in rupee terms as the sector derives a lions share of revenue from exports.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 68.2250, compared with closing of 68.06 during the previous trading session.

The S&P BSE IT index had outperformed the market over the past one month till 27 December 2016, advancing 1.09% compared with the Sensexs 0.39% fall. The index had also outperformed the market in past one quarter, declining 3.17% as against the Sensexs 7.12% fall.

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Dhanuka Agritech gains as board to approve final terms of share buyback
Dec 28,2016

The announcement was made after market hours yesterday, 27 December 2016.

Meanwhile, the S&P BSE Sensex was up 28.50 points or 0.11% at 26,241.94.

On the BSE, 2,517 shares were traded on the counter so far as against the average daily volumes of 9,593 shares in the past one quarter. The stock had hit a high of Rs 738.65 and a low of Rs 725 so far during the day.

The stock had hit a record high of Rs 777 on 31 August 2016 and a 52-week low of Rs 473 on 20 January 2016. The stock had outperformed the market over the past one month till 27 December 2016, advancing 0.72% compared with the Sensexs 0.39% fall. The scrip had also outperformed the market over the past one quarter advancing 6.8% as against the Sensexs 7.12% fall.

The mid-cap company has equity capital of Rs 10 crore. Face value per share is Rs 2.

Dhanuka Agritech said that the outcome of the postal ballot being conducted, to seek such shareholders approval, will also be announced on 2 January 2017.

Dhanuka Agritechs board at a meeting held on 10 November 2016, had approved the proposal of buyback of shares on a proportionate basis through a tender offer route for an amount not exceeding Rs 80 crore, being 16.69% of the total paid-up equity capital and free reserves of the company as on 31 March 2016, at a maximum price not exceeding Rs 850 per share.

The company intends to buyback not more than 10 lakh shares representing 2% of the total paid up equity share capital of the company.

Dhanuka Agritechs consolidated net profit rose 30.5% to Rs 49.21 crore on 14.4% rise in net sales to Rs 308.97 crore in Q2 September 2016 over Q2 September 2015.

Dhanuka Agritech is engaged in the manufacture of agro-chemicals like herbicides, insecticides, fungicides and miticides.

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Saksoft surges on fund buying
Dec 28,2016

Meanwhile, the S&P BSE Sensex was up 91.68 points or 0.35% at 26,305.12.

On the BSE, 1.13 lakh shares were traded on the counter so far as against the average daily volumes of 11,318 shares in the past one quarter. The stock had hit a high of Rs 315.90 and a low of Rs 287 so far during the day.

The stock had hit a record high of Rs 474.30 on 13 January 2016 and a 52-week low of Rs 152 on 22 November 2016. It had outperformed the market over the past one month till 27 December 2016, advancing 56.24% compared with the Sensexs 0.39% fall. The scrip had also outperformed the market in the past one quarter, surging 24.06% as against the Sensexs 7.12% fall.

The small-cap company has equity capital of Rs 10.43 crore. Face value per share is Rs 10.

Saksofts consolidated net profit fell 1.06% to Rs 4.65 crore on 3.94% decline in net sales to Rs 61.43 crore in Q2 September 2016 over Q1 June 2016.

Saksoft is a provider of information management solutions to successful organizations around the world.

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Electrosteel Steels jumps on report Piramal Enterprises, Renaissance Group vie for stake
Dec 28,2016

Meanwhile, the BSE Sensex was up 88.39 points, or 0.34%, to 26,301.83.

On the BSE, so far 6.80 lakh shares were traded in the counter, compared with average daily volumes of 8.34 lakh shares in the past one quarter. The stock had hit a high of Rs 3.59 and a low of Rs 3.38 so far during the day.

The stock hit a 52-week high of Rs 4.50 on 27 January 2016. The stock hit a 52-week low of Rs 2.42 on 29 June 2016. The stock had outperformed the market over the past 30 days till 27 December 2016, rising 5.23% compared with the 0.52% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 10.27% as against Sensexs 7.35% decline.

The small-cap company has equity capital of Rs 2409.24 crore. Face value per share is Rs 10.

According to a media report, the Ajay Piramal-led Piramal Enterprises and the Renaissance Group, an part of the Dalmia Group, are in the reckoning to jointly purchase a 51% stake in Electrosteel Steels.

While Piramal Enterprises is expected to invest Rs 1400 crore in Electosteel Steels through its private equity arm Piramal Capital, the Renaissance Group will manage the operations. The funds will be used to complete the expansion of the Bokaro plant and increase capacity by one million tonne to 2.5 mtpa, the report suggested.

Electrosteel Steels reported net loss of Rs 485.89 crore in Q2 September 2016 as against net loss of Rs 203.57 crore in Q2 September 2015. Net sales declined 2.6% to Rs 556.93 crore in Q2 September 2016 over Q2 September 2015.

Electrosteel Steels makes products like pig iron, billets, tmt bars, wire rods and ductile iron pipes. Electrosteel Steels is promoted by Electrosteel Castings which owns 45.23% of the equity.

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Parag Milk Foods advances after action from foreign funds
Dec 28,2016

Meanwhile, the S&P BSE Sensex was up 96.67 points or 0.37% at 26,310.11.

On the BSE, 7,121 shares were traded on the counter so far as against the average daily volumes of 74,132 shares in the past one quarter. The stock had hit a high of Rs 267 and a low of Rs 261.20 so far during the day.

The stock had hit a record high of Rs 356.70 on 13 July 2016 and a record low of Rs 202.10 on 24 May 2016. It had underperformed the market over the past one month till 27 December 2016, sliding 3.71% compared with the Sensexs 0.39% fall. The scrip had also underperformed the market in the past one quarter, declining 14.66% as against the Sensexs 7.12% fall.

The small-cap company has equity capital of Rs 84.11 crore. Face value per share is Rs 10.

Macquarie Emerging Markets Asian Trading Pte sold 19.83 lakh shares of the company at Rs 253.85 per share to New Horizon Opportunities Master Fund. Copthall Mauritius Investment offloaded 4.96 lakh shares at Rs 253 a piece to New Horizon Opportunities Master Fund.

Copthall Mauritius Investment held 1.83% and Macquarie Emerging Markets Asian Trading Pte owned 2.87% in Parag Milk Foods end September 2016.

On a consolidated basis, Parag Milk Foods net profit rose 47.7% to Rs 14.33 crore on 0.7% growth in net sales to Rs 472.84 crore in Q2 September 2016 over Q2 September 2015.

Parag Milk Foods manufactures a diverse range of products including cheese, ghee (clarified butter), fresh milk, whey proteins, paneer, curd, yoghurt, milk powders and dairy based beverages targeting a wide range of consumer groups through several brands.

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Bharat Financial Inclusion gains after Morgan Stanley hikes stake
Dec 28,2016

The announcement was made after market hours yesterday, 27 December 2016.

Meanwhile, the BSE Sensex was down 120.59 points, or 0.46%, to 26,334.03.

On the BSE, so far 3.62 lakh shares were traded in the counter, compared with average daily volumes of 3 lakh shares in the past one quarter. The stock had hit a high of Rs 548 and a low of Rs 531 so far during the day.

The stock hit a 52-week high of Rs 938.75 on 29 July 2016. The stock hit a 52-week low of Rs 435 on 21 January 2016. The stock had underperformed the market over the past 30 days till 27 December 2016, falling 23.74% compared with the 0.52% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 39.94% as against Sensexs 7.35% decline.

The mid-cap company has equity capital of Rs 137.93 crore. Face value per share is Rs 10.

Morgan Stanley Asia (Singapore), Morgan Stanley Mauritius Company purchased 15.16 lakh shares, or 1.09% stake, in Bharat Financial Inclusion on Friday, 23 December 2016. Post acquisition, the total stake of Morgan Stanley Asia (Singapore), Morgan Stanley Mauritius Company increased to 7.86% in Bharat Financial Inclusion.

Bharat Financial Inclusions net profit rose 87.4% to Rs 145.88 crore on 37.4% increase in operating income to Rs 411.37 crore in Q2 September 2016 over Q2 September 2015.

Bharat Financial Inclusion is among the largest microfinance companies in India.

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Sunil Hitech Engg jumps on new order
Dec 28,2016

The announcement was made after market hours yesterday, 27 December 2016.

Meanwhile, the S&P BSE Sensex was up 37.62 points or 0.14% at 26,251.06.

On the BSE, 1.85 lakh shares were traded on the counter so far as against the average daily volumes of 8.05 lakh shares in the past one quarter. The stock opened with an upward gap surging by the maximum level of 5% and remained locked at that level at Rs 12.40 so far during the day.

The stock had hit a record high of Rs 23.43 on 20 October 2016 and a 52-week low of Rs 7.75 on 24 June 2016. It had outperformed the market over the past one month till 27 December 2016, advancing 35.13% compared with the Sensexs 0.39% fall. The scrip had, however, underperformed the market in the past one quarter, declining 14.36% as against the Sensexs 7.12% fall.

The small-cap company has equity capital of Rs 37.80 crore. Face value per share is Rs 1.

Sunil Hitech Engineers said it has been awarded an order worth Rs 434 crore in Arunachal Pradesh for National Highways & Infrastructure Development Corporation on engineering, procurement & construction (EPC) of road project. This project is in joint venture with PCL-Eagle Infra India.

Sunil Gutte, Managing Director of the company, commented that with the receipt of latest order, the company is continuing its strategy to diversify its order book which will improve its profitability. Its total order book on road segment is now about Rs 1352 crore comprising of 6 projects, in Bihar, Karnataka, West Bengal and Arunachal Pradesh. With these orders, company is having strong foothold in the road sector, he said.

Gutte added that the company proposes to bid for the projects worth Rs 6000 crore in the remaining period of this financial year. He further added that the company has boosted its order book in buildings sector which is surely going to be a major sector to contribute in the infrastructure development projects coming up in the country.

Sunil Hitech Engineers net profit rose 39.7% to Rs 14.84 crore on 19.6% growth in net sales to Rs 496.91 crore in Q2 September 2016 over Q2 September 2015.

Sunil Hitech Engineers is a well established player in EPC and construction of road, bridges, building works of institutions, hospitals and housing projects, cross country pipeline, civil & mechanical works of power and steel plants, cooling towers, chimneys, etc, also in renewable sector.

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TCS gains after Canadas VersaCold selects TAP cloud solution
Dec 28,2016

The announcement was made after market hours yesterday, 27 December 2016.

Meanwhile, the BSE Sensex was up 72.70 points, or 0.28%, to 26,286.14.

On the BSE, so far 1,091 shares were traded in the counter, compared with average daily volumes of 1.14 lakh shares in the past one quarter. The stock had hit a high of Rs 2,338 and a low of Rs 2,325 so far during the day.

The stock hit a 52-week high of Rs 2,740 on 12 August 2016. The stock hit a 52-week low of Rs 2,054.70 on 15 Novembr 2016. The stock had outperformed the market over the past 30 days till 27 December 2016, rising 1.96% compared with the 0.52% fall in the Sensex. The scrip had also outperformed the market in past one quarter, falling 4.19% as against Sensexs 7.35% decline.

The large-cap IT major has equity capital of Rs 197.04 crore. Face value per share is Re 1.

TCS announced that VersaCoId Logistics Services, Canadas largest end-to-end supply chain solutions company for temperature sensitive products has selected TAP, TCS procure to pay cloud solution, to manage their operating costs with greater efficiency.

On a consolidated basis, TCS reported a 4.51% growth in its net profit at Rs 6603 crore on 0.07% decline in net sales to Rs 29284 crore in Q2 September 2016 over Q1 June 2016.

TCS is an IT services, consulting and business solutions organization. The company offers a consulting-led, integrated portfolio of IT, BPS, infrastructure, engineering and assurance services.

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Bombay Burmah gains after raising funds
Dec 27,2016

The announcement was made during market hours today, 27 December 2016.

Meanwhile, the S&P BSE Sensex was up 417.92 points or 1.62% at 26,225.02.

On the BSE, 4,630 shares were traded on the counter so far as against the average daily volumes of 29,692 shares in the past one quarter. The stock had hit a high of Rs 494.15 and a low of Rs 474 so far during the day.

The stock had hit a record high of Rs 673.40 on 5 October 2016 and a 52-week low of Rs 311 on 12 February 2016. It had underperformed the market over the past one month till 26 December 2016, sliding 6.75% compared with the Sensexs 1.94% fall. The scrip had also underperformed the market in past one quarter, declining 21.35% as against the Sensexs 8.79% fall.

The mid-cap company has equity capital of Rs 13.95 crore. Face value per share is Rs 2.

Bombay Burmah Trading Corporation said it has issued commercial paper (CP) for an aggregate amount of Rs 50 crore on 23 December 2016. The CP is for a duration of 81 days having maturity date 14 March 2017. This is in addition to the CP issued in November 2016 for Rs 50 crore.

India Ratings & Research has granted rating of A1+ for issue of CP by Bombay Burmah upto Rs 100 crore.

Bombay Burmah Trading Corporation reported net loss of Rs 9.98 crore in Q2 September 2016, higher than net loss of Rs 6.41 crore in Q2 September 2015. Net sales rose 10.4% to Rs 66.75 crore in Q2 September 2016 over Q2 September 2015.

Bombay Burmah Trading Corporation has diversified its interests into tea, coffee, other plantation products, biscuit and dairy products, auto electric and white goods parts, weighing products, horticulture and landscaping services, healthcare products (viz.) dental, orthopaedic and opthalmic products.

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Kaya gains after subsidiary completes acquisition
Dec 27,2016

The announcement was made after market hours yesterday, 26 December 2016.

Meanwhile, the BSE Sensex was down 376.85 points, or 1.46%, to 26,183.95.

On the BSE, so far 52,000 shares were traded in the counter, compared with average daily volumes of 3,567 shares in the past one quarter. The stock had hit a high of Rs 682.85 and a low of Rs 657.05 so far during the day.

The stock hit a 52-week high of Rs 1,229 on 6 January 2016. The stock hit a record low of Rs 650 on 24 November 2016. The stock had underperformed the market over the past 30 days till 26 December 2016, falling 8.63% compared with the 1.94% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 18.81% as against Sensexs 8.56% decline.

The small-cap company has equity capital of Rs 13 crore. Face value per share is Rs 10.

Kaya announced that the company is in receipt of letter dated 25 December 2016 issued by Kaya Middle East DMCC (Kaya DMCC) confirming the settlement of consideration amount for acquiring 75% beneficial interest in Minal Medical Centre, Dubai and Minal Specialized Clinic Dermatology, Sharjah. Hence, the corporate guarantee provided by the company stands cancelled on payment of the consideration amount by Kaya DMCC.

On 27 September 2016, the company had announced the corporate guarantee provided by it on behalf of Kaya DMCC, wholly-owned subsidiary of the company, for payment of AED 22.5 million by Kaya DMCC for acquiring 75% beneficial interest in Minal Medical Centre, Dubai and Minal Specialized Clinic Dermatology, Sharjah.

On a consolidated basis, net profit of Kaya rose 1.94% to Rs 2.63 crore on 15.62% rise in net sales to Rs 102.28 crore in Q2 September 2016 over Q2 September 2015.

Kaya operates a range of Kaya Skin Clinics across India and Middle East. It also has 100 plus product retail outlets called Kaya Skin Bar in India.

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Asian Oilfield Services spurts after subsidiary wins letter of intent for contract
Dec 27,2016

The announcement was made during trading hours today, 27 December 2016.

Meanwhile, the BSE Sensex was up 223.31 points, or 0.87%, to 26,030.41.

On the BSE, so far 4.86 lakh shares were traded in the counter, compared with average daily volumes of 1.39 lakh shares in the past one quarter. The stock had hit a high of Rs 121.40 and a low of Rs 107.90 so far during the day.

The stock hit a 52-week high of Rs 124 on 14 December 2016. The stock hit a 52-week low of Rs 27.90 on 12 February 2016. The stock had outperformed the market over the past 30 days till 26 December 2016, rising 41.97% compared with the 1.94% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 77.47% as against Sensexs 8.56% decline.

The small-cap company has equity capital of Rs 22.32 crore. Face value per share is Rs 10.

Asian Oilfield Services announced that one of its wholly-owned subsidiaries, Asian Oilfield & Energy Services DMCC, Dubai has received a binding letter of intent (LoI) for providing operations and maintenance services for an offshore production unit operating at an oil field in offshore Nigeria. The duration for services is 3 years with approximate value of $57 million. The contract finalisation for LoI is under progress.

Meanwhile, in a separate announcement during trading hours today, 27 December 2016, the company said that its board approved allotment of 95 lakh warrants, convertible into equity shares, at Rs 80 per warrant. The warants will be allotted on a preferential basis. The company will issue 50 lakh warrants to Oilmax Energy, a promoter company. The company will issue 45 lakh warrants to Balram Chainrai, a non-promoter.

On a consolidated basis, Asian Oilfield Services reported net loss of Rs 11.12 crore in Q2 September 2016 as against net profit of Rs 4.09 crore in Q2 September 2015. Net sales declined 94.72% to Rs 3.09 crore in Q2 September 2016 over Q2 September 2015.

Asian Oilfield Services is engaged in providing geophysical, drilling and well services to customers across the Indian sub-continent.

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