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Board of Orient Tradelink approves change in directorate
Aug 02,2017

The Board of Orient Tradelink at its meeting held on 01 August 2017 has approved the appointment of Mahesh Kumar Verma as Additional Director - Independent of the Company; and accepted the resignation of Tushar Rai Sharma, Company Secretary (KMP) of the Company.

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Outcome of board meeting of Magma Fincorp
Aug 02,2017

Magma Fincorp announced that the Board of Directors at its meeting held on 2 August 2017 has interalia approved, subject to the approval of the shareholders, the alteration in Articles of Association (AoA) of the Company to incorporate an enabling provisions in the AoA w.r.t. consolidation and reissuance of debt securities as suggested by Securities and Exchange Board of India (SEBI) in its circular CIR/IMD/DF-1/67/2017 dated 30 June 2017, and to delete chapter IV w.r.t. Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO) since the preference shares issued to FM0 has been redeemed by the Company.

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Varun Beverages fixes record date for interim dividend
Aug 02,2017

Varun Beverages has fixed 18 August 2017 as the Record Date for the purpose of Payment of Interim Dividend, if declared.

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RBI MPC reduces repo rate by 25 bps
Aug 02,2017

On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided to reduce the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 6.25 per cent to 6.0 per cent with immediate effect.

Consequently, the reverse repo rate under the LAF stands adjusted to 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate to 6.25 per cent.

The decision of the MPC is consistent with a neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent, while supporting growth.

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GSFC gains after re-starting plant
Aug 02,2017

The announcement was made after market hours yesterday, 1 August 2017.

Meanwhile, the S&P BSE Sensex was down 47.38 points or 0.15% at 32,527.79. The S&P BSE Mid-Cap index was down 57.44 points or 0.37% at 15,400.87.

On the BSE, 4.42 lakh shares were traded on the counter so far as against the average daily volumes of 3.18 lakh shares in the past one quarter. The stock had hit a high of Rs 141.20 and a low of Rs 136.05 so far during the day. The stock had hit a record high of Rs 148.40 on 10 May 2017 and a 52-week low of Rs 67 on 3 August 2016.

The mid-cap company has equity capital of Rs 79.70 crore. Face value per share is Rs 2.

GSFC said that ammonia production is started (at 70% capacity) since 22.00 IST on 30 July 2017. Production levels of downstream plants are being increased which were affected due to ammonia availability, the company said. During stoppage of ammonia production, liquid ammonia was arranged to maximum possible extent through external supply, it said. Operation of urea-II plant shall also commence shortly, it added.

GSFC had said that it has made an emergency shut down of ammonia-IV plant on 6 July 2017 due to detection of leakage of high pressure process gas from hot header of reformer box. The urea-II plant has also been shut down due to non- availability of carbon dioxide gas which is by product of ammonia-IV plant, it had said.

GSFCs net profit rose 198.71% to Rs 187.02 crore on 9.31% decline in net sales to Rs 1541.84 crore in Q4 March 2017 over Q4 March 2016.

Gujarat State Fertilizers & Chemicals (GSFC) is engaged in the development of crop nutrition solutions. The company is also engaged in the business of trading pesticides, zinc sulfate, magnesium sulfate, among others.

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Hawkins Cookers tumbles after weak Q1 numbers
Aug 02,2017

The result was announced during market hours today, 2 August 2017.

Meanwhile, the S&P BSE Sensex was down 50.09 points, or 0.15% at 32,525.08. The S&P BSE Small-Cap index was up 12.49 points, or 0.08% at 16,062.34.

On the BSE, 2,275 shares were traded on the counter so far as against the average daily volumes of 971 shares in the past one quarter. The stock had hit a high of Rs 2,980 and a low of Rs 2,801.55 so far during the day. The stock had hit a 52-week high of Rs 3,610 on 25 October 2016 and a 52-week low of Rs 2,500 on 23 December 2016.

The stock had underperformed the market over the past one month till 1 August 2017, advancing 0.61% compared with the Sensexs 5.35% rise. The scrip had also underperformed the market over the past one quarter declining 5.16% as against the Sensexs 8.88% rise. The scrip had also underperformed the market over the past one year advancing 11% as against the Sensexs 16.33% rise.

The small-cap company has equity capital of Rs 5.29 crore. Face value per share is Rs 10.

Hawkins Cookers is the leader in the pressure cooker market in India and exports its products to various countries.

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Lupin gains after Q1 results
Aug 02,2017

The result was announced during market hours today, 2 August 2017.

Meanwhile, the S&P BSE Sensex was down 53.18 points, or 0.16% to 32,521.99.

On the BSE, 3.20 lakh shares were traded in the counter so far, compared with average daily volumes of 1.60 lakh shares in the past one quarter. The stock had hit a high of Rs 1,054.60 and a low of Rs 1,022 so far during the day. The stock hit a 52-week high of Rs 1,747.80 on 2 August 2016. The stock hit a 52-week low of Rs 1,015.60 on 1 August 2017.

The stock had underperformed the market over the past one month till 1 August 2017, falling 3.52% compared with 4.34% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 19.47% as against Sensexs 8.97% rise. The scrip had also underperformed the market in past one year, falling 40.27% as against Sensexs 16.42% rise.

The large-cap company has equity capital of Rs 90.35 crore. Face value per share is Rs 2.

On a consolidated basis, Lupins net profit fell 5.81% to Rs 358.10 crore on 8.53% decline in net sales to Rs 3806.80 crore in Q1 June 2017 over Q4 March 2017.

Commenting on the results, Nilesh Gupta, managing director, Lupin, said that Q1 results have been below expectations on count of higher than anticipated price erosion in select products like Glumetza, disruption on count of GST implementation in India and appreciation in the rupee. The companys focus remains on building its complex generic pipeline, operational excellence, regulatory compliance and building adifferentiated specialty business.

Meanwhile, Lupin announced after market hours yesterday, 1 August 2017, that it received final approval for its Fluocinonide Topical Ointment USP, 0.05% from the United States Food and Drug Administration (FDA) to market a generic version of County Line Pharmaceuticals, LLCs Lidex Ointment, 0.05%. Lupins Fluocinonide Topical Ointment USP, 0.05% is AB rated generic equivalent of County Line Pharmaceuticals, LLCs Lidex Ointment, 0.05%. It is indicated for the relief of the inflammatory and pruritic manifestations of corticosteroid-responsive dermatoses. Lidex Ointment had US sales of $40.3 million as per IMS MAT March 2017.

Lupin is a transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally.

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Global Manufacturing PMI at three-month high in July
Aug 02,2017

The global manufacturing sector forged ahead in July, registering a further month of improved business conditions. Although output growth slowed to a ten-month low, the pace of expansion in new orders strengthened.

At 52.7 in July, up from 52.6 in June, the J.P.Morgan Global Manufacturing PMI - a composite index1 produced by J.P.Morgan and IHS Markit in association with ISM and IFPSM - signalled an improvement in operating performance for the seventeenth month in a row. The rate of expansion picked up to the fastest since April, but remained milder than at the start of the year.

Growth was again mainly led by European nations, while Asia continued to struggle in comparison. Eight of the ten best-performing countries were located in Europe, with Canada (fourth position) and Australia (tenth) the only other nations to break into the highest rankings.

European nations tended to benefit from strong inflows of new export business. The fastest rates of increase in foreign demand were seen in Germany, the UK, the Netherlands, Austria, Spain and France.

Around half of the Asian nations covered by the survey registered a contraction in July, including India, South Korea, Indonesia, Malaysia, Thailand and Myanmar. Growth gathered pace in China (despite remaining marginal), but slowed in Japan, Vietnam and the Philippines. Only Taiwan registered both a solid and accelerated rate of expansion in this region.

The US was in fourteenth position, despite seeing its PMI rise to a four-month high to signal a solid manufacturing sector upturn. Meanwhile, Brazil stagnated following three consecutive months of expansion.

Global manufacturing employment increased for the eleventh successive month in July, with the rate of jobs growth slightly above the average for this sequence. Among the largest industrial nations, staffing levels were raised in the US, in all of the euro area countries covered by the survey, Japan, the UK, Taiwan and South Korea. Cuts were registered in Brazil, Russia, India and China.

Input cost inflation accelerated for the first time in six months during July. This was partly due to supply chains being stretched by the sustained steady expansion of the global manufacturing sector so far this year. Average vendor lead times lengthened to the greatest extent in over six years during the latest survey month.

Part of the increase in costs was passed on to clients in the form of higher charges. Subsequently, average output prices rose for the sixteenth successive month and at the fastest rate since April.

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Volumes jump at Max Ventures and Industries counter
Aug 02,2017

Max Ventures and Industries clocked volume of 6.77 shares by 13:45 IST on BSE, a 16.49-times surge over two-week average daily volume of 41,000 shares. The stock jumped 10.98% to Rs 93.

Aditya Birla Money notched up volume of 6.85 lakh shares, a 12.14-fold surge over two-week average daily volume of 56,000 shares. The stock lost 5% to Rs 115.30.

Intellect Design Arena saw volume of 10.96 lakh shares, a 9.49-fold surge over two-week average daily volume of 1.16 lakh shares. The stock rose 1.85% to Rs 112.70.

Multi Commodity Exchange of India clocked volume of 2.73 lakh shares, a 8.11-fold surge over two-week average daily volume of 34,000 shares. The stock rose 0.24% to Rs 1,115.55.

Emami saw volume of 69,000 shares, a 6.37-fold rise over two-week average daily volume of 11,000 shares. The stock rose 2.13% to Rs 1,096.80.

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Opto Circuits (India) advances after turnaround Q1 earnings
Aug 02,2017

The result was announced after trading hours yesterday, 1 August 2017.

Meanwhile, the S&P BSE Sensex was down 14.75 points or 0.05% at 32,560.42. The S&P BSE Small-Cap index was up 10.39 points, or 0.06% at 16,085.22

On the BSE, 3.49 lakh shares were traded on the counter so far as against the average daily volumes of 1.84 lakh shares in the past one quarter. The stock had hit a high of Rs 10.25 and a low of Rs 9.72 so far during the day. The stock had hit a 52-week high of Rs 13.86 on 8 September 2016. The stock had hit a 52-week low of Rs 8.60 on 30 June 2017.

The stock had outperformed the market over the past one month till 1 August 2017, rising 4.6% compared with 4.34% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, declining 8.08% as against Sensexs 8.97% rise. The scrip had also underperformed the market in past one year, sliding 26.07% as against Sensexs 16.42% rise.

The small-cap company has equity capital of Rs 242.32 crore. Face value per share is Rs 10.

Opto Circuits (India)s consolidated net sales declined 5.77% to Rs 48.18 crore in Q1 June 2017 over Q1 June 2016.

Opto Circuits (India) is a leading manufacturer of healthcare equipment in India.

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The Government has further liberalized, simplified and rationalized the visa regime in India
Aug 02,2017

The Government has further liberalized, simplified and rationalized the visa regime in India. E-visa scheme has been categorized into three sub-categories i.e. e-Tourist Visa, e-Business Visa and e-Medical Visa with increased number of entries and duration of stay. Further, long term Tourist visa is given for 5 years in respect of most of the countries of the world.

Liberalized visa regime will result in higher number of foreigners visiting India which will give a boost to the tourism, medical and business sectors resulting in substantial increase in direct and indirect employment in these sectors.

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Kriti Industries (India) to conduct AGM
Aug 02,2017

Kriti Industries (India) announced that the Annual General Meeting (AGM) of the company will be held on 12 September 2017.

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Solis Marketing to announce Quarterly Result
Aug 02,2017

Solis Marketing will hold a meeting of the Board of Directors of the Company on 10 August 2017, to Consider and Approve Unaudited Financial Results for the Quarter ended 30.06.2017

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Mangalya Soft-Tech to convene AGM
Aug 02,2017

Mangalya Soft-Tech announced that the Annual General Meeting (AGM) of the company will be held on 31 July 2017.

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Servotech Engineering Industries to consider company name change
Aug 02,2017

Servotech Engineering Industries will hold a meeting of the Board of Directors of the Company on 11 August 2017.

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