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Inland Water Transport to Reduce Overall Logistics Cost
Mar 21,2017

Inland Water Transport (IWT) mode is widely recognized as an environment friendly and cost effective mode of transport.  As per RITES Report of 2014 on Integrated National Waterways Transportation Grid (INWTG), one litre of fuel moves 24 tonne - km on road, 95 tonne-km on rail and 215 tonne-km on IWT.  The comparative inter modal costs are given below:-

Mode

Pre tax freight

(Rs. per tonne Km)

Post Service tax freight

(Rs. per tonne km)

Railways

1.361.41

Highways

2.502.58

IWT

1.061.06

The significant cost saving shows that the promotion of Inland Water Transport (IWT) is expected to have a positive impact on reduction in overall logistics cost.  However, as compared to roads and railways, development of transportation on national waterways is still in infancy stage. 

The Three National Waterways (NWs) viz. Ganga-BhagirathiGôHooghly river system (NW-1), River Brahmaputra (NW-2) and West Coast Canal (NW-3) have been developed with targeted depth, fixed and floating terminals with mechanized facilities for cargo loading, unloading and Navigational Aids.  Vessels are plying on these waterways.

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Board of HCL Technologies allots 1,55,63,430 equity shares
Mar 21,2017

With reference to the composite scheme of arrangement and amalgamation (Scheme) amongst Geometric, HCL Technologies and 3DPLM Software Solutions, HCL Technologies announced that the Board of Directors at their meeting held on 20 March 2017 has allotted 1,55,63,430 equity shares of face value Rs.2/- each, fully paid-up to the equity shareholders of the Geometric. In terms of the Scheme, the shareholders of Geometric have been allotted 10 equity shares of face value of Rs. 2/- of the Company for every 43 equity shares of face value of Rs.2/- each held by them in Geometric as on the Record date of 15 March 2017.

Consequent to the said allotment the paid-up share capital of the Company has gone up to 142,67,83,424 equity shares of face value of Rs.2/- each aggregating to Rs. 285,35,66,848/-

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NLC India spurts after board approves liberal interim dividend
Mar 21,2017

The announcement was made after market hours yesterday, 20 March 2017.

Meanwhile, the S&P BSE Sensex was down 67.20 points, or 0.23% to 29,451.54.

On the BSE, 1.93 lakh shares were traded in the counter so far, compared with average daily volumes of 47,046 shares in the past one quarter. The stock had hit a high of Rs 106.85 so far during the day, which is also a 52-week high for the counter. The stock had hit a low of Rs 102.05 so far during the day. The stock hit a 52-week low of Rs 66.10 on 22 March 2016.

The stock had outperformed the market over the past one month till 20 March 2017, rising 4.13% compared with 3.69% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 28.97% as against Sensexs 12.20% rise.

The large-cap company has equity capital of Rs 1677.71 crore. Face value per share is Rs 10.

The interim dividend will be paid to shareholders on or before 31 March 2017, NLC India said in a statement.

The NLC India stock offers a dividend yield of 7.56% based on the closing price of Rs 97.05 yesterday, 20 March 2017.

NLC Indias net profit surged 1778.04% to Rs 336.17 crore on 50.58% rise in net sales to Rs 1892.47 crore in Q3 December 2016 over Q3 December 2015.

NLC India operates lignite mines, pithead thermal power stations and also has operations in renewable energy sector.

As per the shareholding pattern as on 31 December 2016, the Government of India held 90% stake in the company.

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Idea Cellular extends slide
Mar 21,2017

Meanwhile, the S&P Sensex was down 65.30 points or 0.22% at 29,453.44.

On the BSE, 44.47 lakh shares were traded on the counter so far as against the average daily volumes of 53.35 lakh shares in the past one quarter. The stock had hit a high of Rs 98.95 and a low of Rs 90.15 so far during the day.

The stock had hit a 52-week high of Rs 128.05 on 28 April 2016 and a 52-week low of Rs 66 on 9 November 2016. The stock had underperformed the market over the past one month till 20 March 2017, sliding 10.21% compared with the Sensexs 2.99% rise. The scrip had, however, outperformed the market over the past one quarter, rising 33.24% as against the Sensexs 12.2% rise.

The large-cap company has equity capital of Rs 3603.50 crore. Face value per share is Rs 10.

Shares of Idea Cellular have fallen 19.56% in three trading sessions from its closing of Rs 112.95 on 16 March 2017. The decline in the stock accentuated yesterday, 20 March 2017 as the stock settled 9.55% lower at Rs 97.60 after the company during market hours on that day announced details of its proposed merger with Vodafone India (VIL).

The board of directors of Idea Cellular at its meeting held yesterday, 20 March 2017, approved the scheme of amalgamation of VIL and its wholly owned subsidiary Vodafone Mobile Services (VMSL) with the company subject to receipt of necessary approvals.

Upon the amalgamation becoming effective, the entire business of VIL and VMSL (excluding VILs investment in Indus Towers, its international network assets and information technology platforms) will vest in Idea Cellular. The agreement contemplates the completion of the proposed amalgamation within a period of 24 months.

Vodafone will own 45.1% of the combined company after transferring a stake of approximately 4.9% to the promoters of Idea/their affiliates (together promoters of Idea) for Rs 3874 crore in cash concurrent with the completion of the amalgamation. The promoters of Idea will hold 26% of the company and the balance will be held by the public.

Idea Cellular believes that the proposed amalgamation will result in creation of largest Indian telecom operator with widest mobile network in the country and pan India 3G/4G footprint.

On consolidated basis, Idea Cellular reported a net loss of Rs 383.88 crore in Q3 December 2016 compared with net profit of Rs 659.36 crore in Q3 December 2015. Net sales declined 3.7% to Rs 8660.74 crore in Q3 December 2016 over Q3 December 2015.

Idea Cellular is one of the leading telecom operators in India.

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Board of Kwality Pharmaceuticals appoints directors
Mar 21,2017

Kwality Pharmaceuticals announced that the Board of Directors of the Company at their meeting held on 20 March 2017 has appointed Janibhasha Shaik as an Additional Independent Director of the Company.

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Advance Syntex wins SKOCH Achiever Award 2017
Mar 21,2017

Advance Syntex has been awarded SKOCH ORDER-OF-MERIT for qualifying amongst Top-100 SMEs in India.

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Moodys: Mild Growth for Global Oilfield Services and Drilling Sector on Increased Oil Prices, Upstream Spending
Mar 21,2017

Moodys Investors Services has revised its outlook to stable from negative for the formerly beleaguered global oilfield services and drilling sector, with 2017 EBITDA anticipated to grow between 6-8% after two years of extreme stress and declining earnings. The revised outlook comes as oil prices and upstream spending show continued signs of recovery, buoyed by expected improvements in OFS operating margins from very depressed levels and an expansion of upstream drilling budgets -- a sign of increasing optimism on the part of upstream companies.

While OFS companies will remain stressed in regions with high production costs and excess service capacity, the broader operating environment will become less dreadful as higher energy prices keep spurring US rig activity and stabilizing international markets, says Sajjad Alam, a Moodys Vice President.

Even so, Moodys analysts caution that not all OFS segments and markets will stabilize or recover uniformly, with certain businesses and markets expected to suffer further erosion of revenue and EBITDA. Oilfield activities are expected to accelerate in US and Canadian markets and stabilize in most onshore international markets, but will continue to decline offshore during 2017. For its part, onshore equipment utilization is showing positive signs of recovery, and analysts expect OFS companies to regain some pricing power as soon as the second half of 2017n++particularly in the US, where equipment oversupply is easing. Nevertheless, in a reflection of the OFS recoverys unevenness, in deepwater and ultra-deepwater markets, reduced investments and project deferrals are likely to persist at least through mid-2018.

Given their scale, number of high quality assets, varied product offerings and broad geographic footprint, large and diversified companies are expected to disproportionately capture most of the incremental margins and will likely expand their market share during the industrys recovery, Moodys says. The five largest Moodys-rated OFS issuers, all showed top-line growth in fourth quarter 2016, after experiencing steep revenue losses for seven consecutive quarters.

But for smaller, specialized and regionally focused OFS companies, tough business conditions will persist in 2017, offering limited operating and financial flexibility. As of March 2017, more than half of Moodys-rated OFS companies have very weak credit quality, with a rating of Caa1 or lower. And while many of these same companies will try to amend loan covenants, restructure debt or seek protection from bankruptcy courts to stay afloat, Moodys says a slow or tepid recovery which makes it harder to repair the balance sheet quickly enough to avoid default may challenge these firms ultimate survival prospects.

Moodys outlook for a sector reflects the rating agencys expectations for the fundamental business conditions in the industry over the next 12 to 18 months. Moodys would change the global OFS outlook to positive should the sectors EBITDA growth accelerate faster than 10% annualized over the next 12-18 months, based on a quicker recovery in OFS pricing and margins than expected. Conversely, the outlook would be revised to negative on expected softer drilling and completion activity and a further lapse in OFS pricing power that would cut EBITDA by 10% or more.

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Board of Jammu and Kashmir Bank approves preferential issue of shares to Govt. of J&K
Mar 21,2017

Jammu and Kashmir Bank announced that the Board of Directors of the Bank at its meeting held on 20 March 2017 has approved preferential allotment of 3,65,55,051 equity shares of Rs. 1/- each fully paid up of the Bank for cash to the Government of Jammu and Kashmir, Promoter and majority shareholder of the Bank at the issue price of Rs. 68.39 per Equity Share (including premium of Rs. 67.39 per Equity Share) aggregating to Rs. 249.99 crore.

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Outcome of board meeting of India Home Loan
Mar 21,2017

India Home Loan announced that the Board of Directors of the Company at their meeting held on 20 March 2017 transacted the following -

1. Granted approval to the Company to borrow money as per section 179 (3) (d) & section 180(1)( c) of the Act.
2. Recommended & approved increase in the managerial remuneration of Mahesh Pujara,MD, as per section 197 read with schedule V of the Act.
3. Recommended & approved increase in the managerial remuneration of Mitesh Pujara,WTD, as per section 197 read with schedule V of the Act.
4. Approved the record date & Notice for postal ballot for approving item no. 1,2 & 3 above.
5. Appointed Ulhas Shetty, of M/s. Ulhas Shetty & Co., Company Secretaries, as Scrutinizer for conducting the Postal Ballot procedure.
6. Took note of prepayment of term loan & authorised Director to file e-form with ROC, Mumbai.
7. Apprised w.r.t the business & operational matters.
8. Approved the Company to invest funds of the Company as per Section 179(3)(e) of the Act.

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Alexander Stamps And Coin to hold EGM
Mar 21,2017

Alexander Stamps And Coin announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 24 April 2017 .

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Bhartiya Mahila Bank to merge with State Bank of India
Mar 21,2017

State Bank of India announced that the Government of India has decided to merge Bhartiya Mahila Bank with State Bank of India.

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IndusInd Bank opens new branch in Faridabad
Mar 21,2017

IndusInd Bank inaugurated a new branch in Faridabad, which is a major industrial hub in the State of Haryana. The new branch is located at SCF-59 & 60, Sector-15, Urban Estate, Faridabad, Haryana. With the inauguration of this branch, the bank now has four branches in Faridabad.

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Smartlink Network declines on profit booking
Mar 21,2017

Meanwhile, the S&P Sensex was down 9.17 points, 0.03% at 29,509.57. The S&P Small-cap index was down 19.49 points or 0.14% at 14,035.50.

On the BSE, 13,000 shares were traded on the counter so far as against the average daily volumes of 23,142 shares in the past one quarter. The stock had hit a high of Rs 104.65 and a low of Rs 100.50 so far during the day.

The stock had hit a 52-week high of Rs 123.40 on 12 December 2016 and a 52-week low of Rs 76 on 15 November 2016. The stock had outperformed the market over the past one month till 20 March 2017, advancing 9.34% compared with the Sensexs 2.99% rise. The scrip had, however, underperformed the market over the past one quarter declining 2.89% as against the Sensexs 12.2% rise.

The small-cap company has equity capital of Rs 4.51 crore. Face value per share is Rs 2.

Shares of Smartlink Network had jumped 11.15% to settle at Rs 104.20 yesterday, 20 March 2017, triggered by the companys board approving the final application for categorizing the company as a non-banking financial company (NBFC) to be made to the Reserve Bank of India (RBI).

The companys business currently consists mainly of income from investments activities pursuant to transfer of Digisol brand business to Digisol Systems and manufacturing business to Synegra EMS, (wholly owned subsidiaries of the company) respectively. The announcement was made on Friday, 17 march 2017.

Meanwhile, the company on that day had also said that its board has considered and approved the acquisition of Rs 1 crore equity shares aggregating up to Rs 10 crore issued by Digisol Systems, a wholly owned subsidiary of the company in one or more tranches.

Smartlink Network Systems net profit surged 403.6% to Rs 1.41 crore on 58.2% decline in net sales to Rs 3.05 crore in Q3 December 2016 over Q3 December 2015.

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Avenue Supermarts sees strong debut
Mar 21,2017

The stock debuted at Rs 604.40, a premium of 102.14% to the initial public offer (IPO) price. So far the stock hit a high of Rs 615 and low of Rs 558.75. On BSE, so far 68.20 lakh shares were traded on the counter.

The issue price was fixed at Rs 299 per share, the top end of the IPO price band of Rs 295 to Rs 299 per share. The IPO of Avenue Supermarts closed with strong response from investors. The IPO received bids for 464.08 crore shares compared with 4.43 crore shares on offer. The IPO was subscribed 104.59 times. The issue opened for bidding on 8 March 2017 and closed on 10 March 2017.

The qualified institutional buyers (QIBs) category was subscribed 144.62 times. The non institutional investors category, made up of high net-worth individuals, was subscribed 277.74 times. The retail individual investors (RIIs) category was subscribed 7.51 times.

The issue comprised fresh issue of shares of Rs 1870 crore. The company set a price band of Rs 295 to Rs 299 per share for the IPO. Avenue Supermarts raised Rs 560.99 crore by selling 1.87 crore shares to a total of 35 anchor investors ahead of the opening of the companys IPO. The shares were allotted to the anchor investors at Rs 299 per share, the top end of the IPO price band.

Avenue Supermarts is an emerging national supermarket chain. The companys stores operate under the D-Mart brand, registered as a trademark under various classes of products. The company offers a wide range of products with a focus on the Foods, Non- Foods (FMCG) and General Merchandise & Apparel product categories. According to Technopak, in FY 2016, the company was one of the largest and the most profitable F&G retailers in India.

The company proposes to utilize the IPO proceeds repayment or prepayment of a portion of loans, construction and purchase of fit outs for new stores and for general corporate purposes.

On a consolidated basis, Avenue Supermarts reported net profit of Rs 387.74 crore on net sales of Rs 8784 crore in nine-months ended December 2016.

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Government Aims To Make India A Global Biotech Hub By 2020
Mar 21,2017

The Minister of State for Science and Technology & Earth Sciences, Mr. Y. S. Chowdary, has said that biotechnology will be the leader among the knowledge based industries of the 21st century. He said producing affordable products will be major issue for India. He called for efforts to set up a proper ecosystem with sustainable systems, particularly in hubs of rural India.

Mr. Y. S. Chowdary, further said that - n++Research and innovation has been one of the key areas emphasized by the Prime Minister. Globally, BIRAC has been hailed as one of the most effective government measures to create an enabling environment for research and development to flourish in a country. We aim to develop India into a global innovation hub by 2020 and Biotechnology Industry Research Assistance Council (BIRAC) has paved the way to deliver on that mandate.n++

BIRAC is a not-for-profit public sector enterprise, set up by the Department of Biotechnology (DBT), Government of India which acts as an interface agency to support emerging biotech enterprises to undertake strategic research and innovation, to address nationally relevant product development needs. Through the course of five years, BIRAC has supported over 618 projects, 850 start-ups, entrepreneurs, biotech companies and organizations and 20 incubators across the country, resulting in over 66 products and technologies and 120 Intellectual property rights being generated.

BIRAC supports entrepreneurs and start-ups at different stages of innovation - from the ideation stage to managing intellectual property rights and finally to the commercialization of products. Different initiatives of BIRAC target different stages of the innovation ecosystem from ideation stages to proof-of-concept and late stage validation to product development. BIRAC has 9 flagship schemes that are supported by funding from the Department of Biotechnology, and manages 7 collaboratively funded programs with international partners, such as the Bill & Melinda Gates Foundation, Nesta, the Wellcome Trust and USAID, among others. Social Innovation is a key focus for affordable and accessible product development.

Dr. K. Vijay Raghavan, Secretary, Department of Biotechnology and Chairman, BIRAC said that Innovation and research must be directed toward addressing the most pressing problems of society. Were proud that BIRAC and the Department of Biotechnology are spearheading this effort in the biotechnology domain. Since its inception in 2012, BIRAC has created nearly two dozen incubators across the country and supported over 350 start-ups. We firmly believe that social entrepreneurship is the key to creating an inclusive society and our government is committed to providing all the necessary support.

The science and technology sector will play a key role in the governments Start-Up India Action Plan. The DBT, in line with the Start-Up India Action Plan has undertaken a number of initiatives centered on the three pillars of an ideal innovation ecosystem - funding, mentoring and capacity building, and the infrastructure to translate scientific research into commercial products. To this end, BIRAC implements its mandate through a wide range of high impact initiatives, providing access to risk capital through targeted funding, facilitating technology transfer, and supporting intellectual property management and handholding schemes for biotech firms to make them globally competitive.

Dr. Renu Swarup, Senior Adviser, Department of Biotechnology and Managing Director, BIRAC said that through initiatives such as Start-Up India and the Science and Technology for Harnessing Innovations or SATHI, the government is ushering in supportive policies and removing regulatory barriers to create an atmosphere of innovation and entrepreneurship in the country. The world as a whole stands to gain with Indian innovators stepping up and changing the way we address the grand challenges we face today. We are proud that BIRAC has created an enabling environment for the biotechnology industry to prosper.

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