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Indias natural gas production jumps 11.9% in January 2017
Feb 22,2017

Indias natural gas production increased 11.9% to 2.74 billion cubic meters (bcm) in January 2017 over a year ago. Natural gas output of ONGC jumped 25.6% to 1.92 bcm, but that of private and JV companies dipped 15.4% to 0.57 bcm. The natural gas production of Oil India moved up 1.3% to 0.25 bcm in January 2017.

Natural gas output declined 1.9% to 26.62 bcm in April-January FY2017 over April-January FY2016.

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Indias crude oil refinery output declines 0.4% in January 2017
Feb 22,2017

Indias crude oil refinery output declined 0.4% to 20.27 mt in January 2017 over January 2016. The output of public sector refineries fell 1.0% to 10.92 mt, while the output of private refineries dipped 0.7% to 7.99 mt. Further, the refinery output of public-private JV refiners moved up 7.5% to 1.36 mt in January 2017.

Among public refineries, the output of Chennai Petroleum Corporation dipped 17.4% to 0.72 mt, while the output of Mangalore Refineries plunged 10.0% to 1.32 mt, and Hindustan Petroleum Corporation 3.6% to 1.45 mt in January 2017 over January 2016. The output of Bharat Petroleum Corporation moved up 2.4% to 2.03 mt, Indian Oil Corporation 3.0% to 5.11 mt and Numaligarh Refineries 17.3% to 0.28 mt in January 2017.

Among private refiners, the output of Reliance Petroleum rose 0.7% to 6.41 mt, while that of Essar Oil declined 6.1% to 1.58 mt in January 2017 over January 2016. Among JV refineries, the output of Bharat Oman fell 4.7% to 0.55 mt, while the output of HPCL Mittal moved up 17.7% to 0.82 mt in January 2016.

The cumulative refinery output increased 6.0% to 198.86 mt in April-January FY2017. The output of public refineries increased 9.6% to 107.37 mt, while that of private refineries moved up 2.5% to 78.31 mt. The refinery output of JV refineries declined 0.8% to 13.18 mt in April-January FY2017. Among public refineries, the output of Indian Oil Corporation improved 11.8%, Bharat Petroleum Corporation 7.8%, Hindustan Petroleum Corporation 4.3%, Chennai Petroleum Corporation 16.5%, Numaligarh Refineries 7.8% and Mangalore Refineries 5.4%.

The overall capacity utilization was lower at 108.0% in January 2017 compared with 117.7% in January 2016, while it was also lower at 106.3% in April-January FY2017 compared with 106.8% in April-January FY2016.

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Cabinet approves enhancement of capacity from 20,000 MW to 40,000 MW of the Scheme for Development of Solar Parks and Ultra Mega Solar Power Projects
Feb 22,2017

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister, Shri Narendra Modi, today approved the enhancement of capacity from 20,000 MW to 40,000 MW of the Scheme for Development of Solar Parks and Ultra Mega Solar Power Projects. The enhanced capacity would ensure setting up of at least 50 solar parks each with a capacity of 500 MW and above in various parts of the country. Smaller parks in Himalayan and other hilly States where contiguous land may be difficult to acquire in view of the difficult terrain, will also be considered under the scheme. The capacity of the solar park scheme has been enhanced after considering the demand for additional solar parks from the States.

The Solar Parks and Ultra Mega Solar Power Projects will be set up by 2019-20 with Central Government financial support of Rs.8100 crore. The total capacity when operational will generate 64 billion units of electricity per year which will lead to abatement of around 55 million tonnes of CO2 per year over its life cycle.

It would also contribute to long term energy security of the country and promote ecologically sustainable growth by reduction in carbon emissions and carbon footprint, as well as generate large direct & indirect employment opportunities in solar and allied industries like glass, metals, heavy industrial equipment etc. The solar parks will also provide productive use of abundant uncultivable lands which in turn facilitate development of the surrounding areas.

All the States and UTs are eligible for benefits under the scheme. The State Government will first nominate the Solar Power Park Developer (SPPD) and also identify the land for the proposed solar park. It will then send a proposal to MNRE for approval along with the name of the SPPD. The SPPD will then be sanctioned a grant of upto Rs.25 Lakh for preparing a Detailed Project Report (DPR) of the Solar Park. Thereafter, Central Financial Assistance (CFA) of up to Rs. 20 lakhs/MW or 30 percent of the project cost including Grid-connectivity cost, whichever is lower, will be released as per the milestones prescribed in the scheme. Solar Energy Corporation India (SECI) will administer the scheme under the direction of MNRE. The approved grant will be released by SECI.

The solar parks will be developed in collaboration with State Governments/UTs. The State Governments/UTs are required to select the SPPD for developing and maintaining the solar parks.

Ministry of New and Renewable Energy (MNRE) is already implementing a scheme for development of at least 25 solar parks with an aggregate capacity of 20,000 MW, which was launched in December 2014. As on date, 34 solar parks of aggregate capacity 20,000 MW have been approved which are at various stages of development.

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Indias crude oil production up 1.3% in January 2017
Feb 22,2017

Indias crude oil production rose 1.3% to 3.08 million tonnes (mt) in January 2017 over January 2016, while snapping consistent decline for last 10 straight months. Crude oil output of ONGC rose 4.6% to 1.92 mt, while that of Oil India also improved 5.3% to 0.27 mt. However, the crude oil production of private and joint venture (JV) companies dipped 6.3% to 0.89 mt in January 2017. ONGCs offshore output rose 5.0% to 1.41 mt, while onshore production moved up 3.7% to 0.51 mt.

Crude oil output declined 2.8% to 30.12 mt in April-January period of the fiscal year ending March 2017 (April-January FY2017), in addition to 1.2% fall recorded in the corresponding period of last year. Output of ONGC eased 0.9% to 18.55 mt, while that of Oil India declined 0.2% to 2.70 mt and private companies dipped 7.2% to 8.87 mt in April-January FY2017 over April-January FY2016.

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Alpha Hi-Tech Fuel to hold board meeting
Feb 22,2017

Alpha Hi-Tech Fuel will hold a meeting of the Board of Directors of the Company on 25 February 2017, to consider appointment of Company Secretary pursuant to Section 203 of the Companies Act, 2013 as Key Managerial Personnel (KMP).

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Panyam Cements & Mineral Industries to hold board meeting
Feb 22,2017

Panyam Cements & Mineral Industries will hold a meeting of the Board of Directors of the Company on 1 March 2017, to consider the conversion of the said 8, 43,060 convertible warrants and issue and allot 8, 43,060 Equity Shares of Rs. 10/- each of the Company.

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Generic Engg. Constructn. & Projects to hold board meeting
Feb 22,2017

Generic Engg. Constructn. & Projects will hold a meeting of the Board of Directors of the Company on 27 February 2017, to consider the change in composition of the Board of Directors of the company due to completion of open offer process as per SEBI (SAST) Regulations, 2011, reconstitution of various committees and shifting of Registered Office of the Company.

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APM Industries tumbles on profit booking
Feb 22,2017

Meanwhile, the BSE Sensex was up 104.38 points, or 0.36%, to 28,865.97.

On the BSE, so far 2.44 lakh shares were traded in the counter, compared with average daily volumes of 22,500 shares in the past one quarter. The stock had hit a high of Rs 70.20 and a low of Rs 61 so far during the day.

The stock hit a record high of Rs 76.85 on 10 November 2016. The stock hit a 52-week low of Rs 48.50 on 29 February 2016. The stock had outperformed the market over the past 30 days till 21 February 2017, rising 7.17% compared with the 6.06% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 9.65% as against Sensexs 10.40% rise.

The small-cap company has equity capital of Rs 4.32 crore. Face value per share is Rs 2.

Shares of APM Industries rose 28.26% in two trading sessions to settle at Rs 68.75 yesterday, 21 February 2017, from its close of Rs 53.60 on 17 February 2017.

APM Industries announced during trading hours yesterday, 21 February 2017, that the Reserve Bank of lndia (RBI) granted a non-banking finance company (NBFC) license to the companys wholly-owned subsidiary, APM Finvest. Shares of APM Industries rose 9.04% to Rs 68.75 yesterday, 21 February 2017.

The board of directors of the company had in their meeting held on 29 January 2016 decided to enter into the business of finance, lending and investment business through a wholly owned subsidiary and hence the company incorporated APM Finvest and applied for the NBFC license.

APM Industries net profit fell 67.5% to Rs 1.78 crore on 29% decline in net sales to Rs 51.78 crore in Q3 December 2016 over Q3 December 2015.

APM Industries is engaged in the manufacture of synthetic blended (polyester, viscose and acrylic) yarn.

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TCS becomes title sponsor for Japanese SUPER FORMULA Championship team TCS NAKAJIMA RACING
Feb 22,2017

Tata Consultancy Services has been named as a title sponsor of Japanese Super Formula Championship team NAKAJIMA RACING in the Japanese Super Formula Championship 2017 series. TCS will contribute as technology partner to TCS NAKAJIMA RACING.

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Dr Reddys drops as Miryalaguda facility gets 3 USFDA observations
Feb 22,2017

The announcement was made after market hours yesterday, 21 February 2017.

Meanwhile, the S&P BSE Sensex was up 94.73 points or 0.33% at 28,856.32.

On the BSE, 28,000 shares were traded on the counter so far as against the average daily volumes of 30,694 shares in the past one quarter. The stock had hit a high of Rs 2,925 and a low of Rs 2,893.10 so far during the day.

The stock had hit a 52-week high of Rs 3,689 on 20 July 2016 and a 52-week low of Rs 2,803.50 on 16 February 2017. The stock had underperformed the market over the past one month till 21 February 2017, sliding 1.61% compared with the Sensexs 6.39% rise. The scrip had also underperformed the market over the past one quarter, declining 7.52% as against the Sensexs 11.63% rise.

The large-cap company has equity capital of Rs 82.87 crore. Face value per share is Rs 5.

Dr Reddys Laboratories (DRL) announced that the audit of the companys active pharmaceutical ingredients (API) manufacturing plant at Miryalaguda, by the United States Food and Drug Administration (USFDA) has been completed on 21 February 2017. DRL has been issued a Form 483 with three observations, which the company is addressing, it said.

Dr Reddys Laboratories consolidated net profit fell 15.9% to Rs 492.30 crore on 6.6% fall in net sales to Rs 3706.50 crore in Q3 December 2016 over Q3 December 2015.

Dr Reddys Laboratories is an integrated global pharmaceutical company.

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Minda gains after signing JV pact with Japanese firm
Feb 22,2017

The announcement was made during market hours today, 22 February 2017.

Meanwhile, the S&P BSE Sensex was up 120.25 points or 0.42% at 28,881.84.

On the BSE, 39,000 shares were traded on the counter so far as against the average daily volumes of 50,837 shares in the past one quarter. The stock had hit a high of Rs 399 and a low of Rs 381.10 so far during the day.

The stock had hit a record high of Rs 405.35 on 1 November 2016 and a 52-week low of Rs 148.30 on 24 February 2016. The stock had outperformed the market over the past one month till 21 February 2017, advancing 10.13% compared with the Sensexs 6.39% rise. The scrip had also outperformed the market over the past one quarter, gaining 39.72% as against the Sensexs 11.63% rise.

The mid-cap company has equity capital of Rs 15.87 crore. Face value per share is Rs 2.

Minda Industries said it has signed the joint venture (JV) agreement with Katolec Corporation, Japan to manufacture the products including high end electronics like printed circuit boards (PCB) and box build assemblies. The JV company is proposed to be set in Pune, Maharashtra.

The shareholding in the JV company will be in the ratio of 51:49 i.e. 51% will be subscribed by Minda and 49% shareholding by Katolec Corporation, Japan.

Minda Industries consolidated net profit rose 55.1% to Rs 44.74 crore on 40.6% growth in net sales to Rs 875.82 crore in Q3 December 2016 over Q3 December 2015.

Minda Industries is part of UNO Minda. UNO Minda is a technology leader in auto components industry and a leading Tier 1 supplier of proprietary automotive solutions to original equipment manufacturers (OEMs).

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Cabinet approves the investment proposal for generation component of Arun-3 Hydro Electric Project in Nepal by SJVN
Feb 22,2017

The Cabinet Committee on Economic Affairs chaired by the Prime Minister Shri Narendra Modi has approved:

(i) Investment for generation component of Arun-3 HEP (900 MW) for an estimated cost of Rs. 5723.72 crore at May 2015 Price Level.

(ii) Completion period of the project shall be 60 months from the date of financial closure which is planned for September this year.

(iii) Ex-post facto approval for the existing implementing agency, already incorporated in the name of SJVN Arun-3 Power Development Company (P) Limited (SAPDC) registered in Nepal as a 100% subsidiary of SJVN for implementing the project.

(iv) Any component of work already or being made by the Nepalese authorities shall be so certified by Central Electricity Authority (CEA) and shall be accordingly deducted from the project cost requirements,

The project is located on Arun River in Sankhuwasabha District of Eastern Nepal. The Run-of-River scheme envisages about 70 mtr. high concrete gravity dam and Head Race Tunnel (HRT) of 11.74 Km. with underground Power House containing four generating units of 225 MW each on Left Bank.

SJVN bagged the project through International Competitive Bidding. An MoU was signed between Government of Nepal and SJVN Limited for the project in March, 2008 for execution on Build Own Operate and Transfer (BOOT) basis for a period of 30 years including five years of construction period. The Project Development Agreement (PDA) signed on 25 November 2014, which provides 21.9% free power to Nepal for the entire concession period of 25 years. Employment generation of around 3000 persons is envisaged in construction of the project from both India and Nepal.

The project will provide surplus power to India strengthening power availability in the country and will also strengthening economic linkages with Nepal. The power from the project shall be exported from Dhalkebar in Nepal to Muzaffarpur in India.

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Cabinet approves doubling of solar power capacity addition target
Feb 22,2017

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister, Narendra Modi, has approved the enhancement of capacity from 20,000 MW to 40,000 MW of the Scheme for Development of Solar Parks and Ultra Mega Solar Power Projects. The enhanced capacity would ensure setting up of at least 50 solar parks each with a capacity of 500 MW and above in various parts of the country. Smaller parks in Himalayan and other hilly States where contiguous land may be difficult to acquire in view of the difficult terrain, will also be considered under the scheme. The capacity of the solar park scheme has been enhanced after considering the demand for additional solar parks from the States.

The Solar Parks and Ultra Mega Solar Power Projects will be set up by 2019-20 with Central Government financial support of Rs 8100 crore. The total capacity when operational will generate 64 billion units of electricity per year which will lead to abatement of around 55 million tonnes of CO2 per year over its life cycle.

It would also contribute to long term energy security of the country and promote ecologically sustainable growth by reduction in carbon emissions and carbon footprint, as well as generate large direct & indirect employment opportunities in solar and allied industries like glass, metals, heavy industrial equipment etc. The solar parks will also provide productive use of abundant uncultivable lands which in turn facilitate development of the surrounding areas.

All the States and UTs are eligible for benefits under the scheme. The State Government will first nominate the Solar Power Park Developer (SPPD) and also identify the land for the proposed solar park. It will then send a proposal to MNRE for approval along with the name of the SPPD. The SPPD will then be sanctioned a grant of upto Rs 25 Lakh for preparing a Detailed Project Report (DPR) of the Solar Park. Thereafter, Central Financial Assistance (CFA) of up to Rs 20 lakhs/MW or 30 percent of the project cost including Grid-connectivity cost, whichever is lower, will be released as per the milestones prescribed in the scheme. Solar Energy Corporation India (SECI) will administer the scheme under the direction of MNRE. The approved grant will be released by SECI.

The solar parks will be developed in collaboration with State Governments/UTs. The State Governments/UTs are required to select the SPPD for developing and maintaining the solar parks.

Ministry of New and Renewable Energy (MNRE) is already implementing a scheme for development of at least 25 solar parks with an aggregate capacity of 20,000 MW, which was launched in December 2014. As on date, 34 solar parks of aggregate capacity 20,000 MW have been approved which are at various stages of development.

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Tokyo Plast International approves resignation of company secretary
Feb 22,2017

Tokyo Plast International announced that the Board of Directors of the Company at its meeting held on 22 February 2017, considered and approved the resignation of Parul Gupta from the post of Company Secretary & Compliance officer w.e.f. 01 March 2017.

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Bodhtree Consulting receives order worth Rs 9.41 crore
Feb 22,2017

Bodhtree Consulting has received the purchase order worth Rs 9.41 crore for supply of additional bio-metrics OFAMOS Devices for Digital Mission Mode Project from Medical Council of India on 21 February 2017.

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