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Board of Super Bakers (India) to consider December quarter results
Feb 01,2017

Super Bakers (India) announced that the Meeting of the Board of Directors of the Company to consider and take on record the Unaudited Financial Results for the quarter ended on 31 December 2016 is scheduled to be held on 14 February 2017.

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Board of Super Bakers (India) to consider December quarter results
Feb 01,2017

Super Bakers (India) announced that the Meeting of the Board of Directors of the Company to consider and take on record the Unaudited Financial Results for the quarter ended on 31 December 2016 is scheduled to be held on 14 February 2017.

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Promact Plastics to consider December quarter results
Feb 01,2017

Promact Plastics announced that the Meeting of the Board of Directors of the Company to consider and take on record the Unaudited Financial Results for the quarter ended on 31 December 2016 is scheduled to be held on 14 February 2017.

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Swaraj Automotives to consider Q3 and 9M results
Feb 01,2017

Swaraj Automotives announced that the Meeting of the Board of Directors of the Company will be held on 10 February 2017, inter alia, to consider and approve the Unaudited Financial Results of the Company for quarter and nine months ended 31 December 2016.

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Govind Poy Oxygen to consider December quarter results
Feb 01,2017

Govind Poy Oxygen announced the Board of Directors of the Company will meet on 07 February 2017, to consider the unaudited financial results for the quarter ended on 31 December 2016.

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Board of Standard Batteries to consider December quarter results
Feb 01,2017

Standard Batteries announced that the Meeting of the Audit Committee and Board of Directors of the Company will be held on 10 February 2017, to consider the Un-Audited Financial Results for the Quarter ended 31 December 2016.

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Gujarat Industries Power Co signs PPA for 27.3 MW wind power project at Kuchhdi Site
Feb 01,2017

Gujarat Industries Power Co announced that GIPCL has signed Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam (GUVNL) for the balance 27.3 MW (2.1 MW x 13 WTGs), out of the 50.4 (2.1MW x 24 WTGs) Wind Power Project at the Kuchhdi Site under the Letter of Intent dated 12 February 2016 issued to Suzlon Energy.

With the above, execution of PPA with GUVNL for the entire 50.4 MW Kuchhdi Wind Farm has been completed.

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Ind-Ra: Auto Sales Fuelled by Aspirational Utility Vehicle Volumes
Feb 01,2017

Surging volumes of compact utility vehicles (UVs) revs up growth for passenger cars in FY17, says India Ratings and Research (India Ratings). In the agencys assessment, the key contributors to higher demand for UVs are shifting preferences among buyers to aspirational products such as UVs and more options available in the segment. In addition, buyers having opted for larger UVs are migrating towards compact UVs given the regulatory challenges - such as the ban on registration of new large diesel passenger vehicles (PVs) in the National Capital Region which has hurt large diesel UVs in particular. In addition, the proliferation in the compact UV models which are available at attractive price points and availability of both petrol and diesel variants have also fuelled demand.

For the April to December 2016, UV volumes grew by 33%, compared with a mere 2.5% for cars. The overall growth rate of 8.6% for passenger vehicles (PV) for this period was pushed into the fast track by UVs. The surge in UV sales volumes can in turn be attributed to the success of the new compact UV models namely, Grand Vitara, S-Cross and Vitara Brezza from Maruti Suzuki India (MSIL) and Creta from Hyundai Motor India (HMIL). In line with the increased volume contribution from UVs, the share of UVs in total domestic PV volumes has increased to almost 25% in April to December 2016 from 21% in FY16.

Due to the intensely competitive nature of the domestic auto industry, the launch of new models on a regular basis has become a driving strategy for companies aspiring for high volumes and significant market share. It is observed that on the launch of a new model, sales volumes tend to spike initially, before other factors such as sustained on-road performance and consequent consumer perceptions determine monthly volumes over an extended period. The new launches in the UV segment in the past one year particularly by MSIL have supported volume growth in the segment in FY17.

Buyers shifting preferences to UVs from cars is evident from the reduction in the proportion of car sales to PV segment volumes to 69.3% in April to December 2016 (from 73.4% in the corresponding period of the previous year). This has been offset by a similar increase in contribution of UVs to the segment volumes to 24.8% (April-December 2016) from 20.2% yoy. The biggest beneficiaries of the surge in UV sales, MSIL and HMIL which reported 124% and 70.5% yoy growth in volumes respectively in UV sales in April to December 2016, also reported 0.7% and -4.1% yoy changes in their car sales volumes in the same period. In comparison, Mahindra & Mahindra Limited (M&M; IND AAA/Stable) which does not have a material presence in the car segment reported an increase in UV volumes at a modest growth rate of 4.4%.

The UV product portfolio of MSIL and HMIL mostly comprises compact UV models targeted primarily at urban buyers and their sales were therefore not impacted by the recent demonetisation drive, which is likely to have impacted sales of semi-urban and rural centric vehicles to a greater extent. This is considering the relatively higher proportion of cash dealings in transactions in these locations. Considering that the rural-centric Bolero model has traditionally accounted for over 30% of M&Ms UV volumes, M&Ms sales was impacted due to demonetisation. In general, UVs entail higher margins than cars and companies generating high revenue growth through UVs are expected to see improvement in operating margins in FY17.

The next trigger for the auto industry is the union budget FY18, India Ratings believes there could be a reduction in excise duty on large UVs in the upcoming budget, considering that under Goods and Service Tax (GST) the highest tax rate applicable is 28%, while large UVs (>1500cc engine capacity and length > 4m) attract excise duty of 30%. However the impact on overall UV sales would be moderate, since the highest volumes are being generated from the compact UV segment. Also any changes in the income tax slabs, resulting in a lower tax outgo for buyers will support demand for PVs.

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Maruti Suzuki India announces sales figures
Feb 01,2017

Maruti Suzuki India announced total sales of 144396 units in January 2017 compared to 113606 units in January 2016, recording a growth of 27.1%. Total sales includes domestic sale of 133934 units, higher by 25.9% and exports of 10462 units, higher by 44.8% compared to January 2016.

For the period April - January 2017, total sales rose 9.8% at 1298560 units compared to corresponding period of previous year.

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GKB Ophthalmics to consider Q3 and 9M results
Feb 01,2017

GKB Ophthalmics announced that a Meeting of the Board of Directors of the Company will be held on 13 February 2017, inter alia, to consider and take on record the Unaudited Financial Results of the Company for the quarter and nine months ended 31 December 2016.

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Manufacturing economy rebounds from rupee-demonetization downturn: Nikkei India Manufacturing PMI
Feb 01,2017

Indian manufacturing output increased during January on the back of rising order books. Greater production needs encouraged companies to purchase more inputs, but failed to generate jobs in the sector. On the price front, input cost inflation climbed to its highest mark since August 2014, while output charges were raised for the eleventh successive month.

Having deteriorated in December for the first time in one year, the health of Indias manufacturing economy improved in the opening month of 2017. The headline Nikkei India Manufacturing Purchasing Managers IndexTM (PMI)TM was up from 49.6 to 50.4 in January.

The main factors contributing to the above-50.0 PMI reading were growth of both new orders and output. Rates of expansion were only slight, but reversed the contractions noted in December. Anecdotal evidence highlighted a return to normal market conditions and a subsequent improvement in demand. In contrast to the upturn in total new business, new export orders fell again. Having eased since the previous month, the rate of reduction was marginal.

Intermediate goods was the bright spot in January, with rates of expansion in both new work and production outstripping those seen in the consumer goods sector. Meanwhile, investment goods dipped into contraction.

Survey data pointed to an increasing degree of pressure on the capacity of manufacturers operations as backlogs rose at a quicker rate than in December. In spite of this, companies kept their payroll numbers unchanged in January.

Holdings of finished goods decreased in January, amid evidence from survey participants of orders being fulfilled directly from stocks. The rate of depletion was marked, and the quickest since last May. Concurrently, pre-production inventories declined slightly, but at a pace that was the fastest in over three years.

Manufacturers attempted to replenish their input stocks by purchasing greater quantities of raw materials and semi-finished items in January. That said, the overall rate of growth was only slight and well below its long-run average.

Rates of input cost inflation accelerated in each of the three tracked sectors, led by intermediate goods. Across the manufacturing economy as a whole, input cost inflation climbed to a 29-month peak. Where cost burdens rose, there were mentions of higher prices paid for metals, chemicals, plastics, textiles and paper.

As part of ongoing efforts to protect margins, Indian manufacturers raised their own selling prices for the eleventh successive month in January. However, the rate of inflation remained only marginal.

Newly-released future output data, which have been collected since April 2012, showed a pick-up in manufacturers confidence during January. Promotional activities and better economic conditions are anticipated to underpin production growth over the coming 12 months.

Commenting on the Indian Manufacturing PMI survey data, Pollyanna De Lima, Economist at IHS Markit and author of the report, said:

n++The Indian manufacturing economy recovered from the one-off downturn that hit the sector in December following the withdrawal of high-value banknotes. January saw only modest increases in order books, production and buying levels, but the quick rebound will be welcome news to policymakers.

n++Improving confidence among firms bodes well for the outlook, with the expansion in manufacturing output likely to pick up pace in coming months. IHS Markit forecasts a 6.9% rise in GDP for FY16, with growth anticipated to accelerate to 7.4% in FY 2017.n++

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Board of Manali Petrochemicals approves additional investment in subsidiary - AMCHEM Speciality Chemicals
Feb 01,2017

Manali Petrochemicals announced that at the meeting held on 31 January 2017 the Board has approved additional investment upto US$ 1 million in AMCHEM Speciality Chemicals, Singapore, the Wholly Owned Subsidiary in one or more tranches for exploring further overseas business opportunities.

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Cupid gains after reporting strong Q3 results
Feb 01,2017

The announcement was made before market hours today, 1 February 2017.

Meanwhile, the S&P BSE Sensex was up 9.74 points or 0.04% at 27,657.45.

On the BSE, 8,504 shares were traded on the counter so far as against the average daily volumes of 14,979 shares in the past one quarter. The stock had hit a high of Rs 310 and a low of Rs 298 so far during the day. The stock had hit a 52-week high of Rs 374 on 1 November 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 31 January 2017, sliding 2.6% compared with the Sensexs 3.87% gains. The scrip had also underperformed the market in the past one quarter, declining 19.48% as against the Sensexs 0.98% fall.

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

Cupids earnings before interest, taxes, depreciation and amortization (EBITDA) margin fell to 38.4% in Q3 December 2016 as against 40.6% in Q3 December 2015. EBITDA rose 67% to Rs 10.9 crore in Q3 December 2016 over Q3 December 2015.

As on 31 December, 2016, the company has confirmed orders worth Rs 72.9 crore to be executed over a period. For the ongoing period, the companys business priorities are to work along the marketing team to setup distribution network for retail sales of male and female condoms and progress along the registration procedure for our female condoms in Brazil and USA.

The company will complete automation in the packaging for male condoms, establish class 100 facilities for manufacturing of sterile lubes & creams, and initiate R&D program to manufacture rapid HIV/multi-test kits.

Commenting on the companys performance for Q3, Om Prakash Garg, CMD said that the robust performance was predominantly driven by execution of higher margin orders in the male and female condoms coupled with advancement of some shipments on customers specific request.

While the momentum looks conducive in the long term, the company remains cautious of the volatility of the institutional business and the next few quarters may not replicate the same revenue run rate. However, as the company moves forward, its blended strategy of B2B coupled with the new initiatives in the retailing business would drive sustainable growth for the company, he added.

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

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InterGlobe Aviation slumps after weak Q3 results
Feb 01,2017

The result was announced after market hours yesterday, 31 January 2017.

Meanwhile, the S&P BSE Sensex was down 28.05 points or 0.1% at 27,627.91.

On the BSE, 41,000 shares were traded on the counter so far as against the average daily volumes of 25,063 shares in the past one quarter. The stock had hit a high of Rs 869.60 and a low of Rs 825 so far during the day.

The stock had hit a 52-week high of Rs 1,095.40 on 5 May 2016 and a record low of Rs 702 on 11 February 2016. The stock had outperformed the market over the past one month till 31 January 2017, advancing 9.7% compared with the Sensexs 3.87% rise. The scrip had, however, underperformed the market over the past one quarter, sliding 3.77% as against the Sensexs 0.98% fall.

The large-cap company has equity capital of Rs 364.58 crore. Face value per share is Rs 10.

InterGlobe Aviations passenger revenue rose 16.1% to Rs 4369 crore in Q3 December 2016 over Q3 December 2015. Ancillary revenue grew by 12.5% to Rs 579.32 crore in Q3 December 2016 over Q3 December 2015.

The companys earnings before interest, taxation, depreciation, amortization and rent (EBITDAR) fell 12.9% to Rs 1460.54 crore in Q3 December 2016 over Q3 December 2015. EBITDAR margin contracted to 29.3% in Q3 December 2016, from 39% in Q3 December 2015.

InterGlobe Aviation expects fleet of 133 at the end of FY 2017. It expects available seat km (ASK) increase of 25% year-on-year in Q4 March 2017.

IndiGo had a total cash balance of Rs 8455 crore comprising of Rs 3786.50 crore of free cash and Rs 4668.50 crore of restricted cash as on 31 December 2016. The total debt as on 31 December 2016 was Rs 2746.60 crore. The entire debt of IndiGo is aircraft related. IndiGo does not have any working capital debt.

InterGlobe Aviations President and whole-time director Aditya Ghosh said, the airliner expects robust traffic growth ahead and it will continue to grow and strengthen its network with a view to maximizing its long term profitability.

InterGlobe Aviation is the operator of low cost passenger airline IndiGo.

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Precious Trading & Investments to consider December quarter results
Feb 01,2017

Precious Trading & Investments announced that a meeting of the Board of Directors of the Company is scheduled to be held on 10 February 2017, to consider the unaudited financial results for the quarter ended on 31 December 2016.

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