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Axis Bank nudges higher after keeping MCLRs unchanged
Jul 18,2017

The announcement was made by the bank after market hours yesterday, 17 July 2017.

Meanwhile, the S&P BSE Sensex was down 207.83 points or 0.65% at 31,866.95.

On the BSE, 35,286 shares were traded on the counter so far as against the average daily volumes of 4.62 lakh shares in the past one quarter. The stock had hit a high of Rs 513 and a low of Rs 506.70 so far during the day. The stock had hit a 52-week high of Rs 638 on 7 September 2016 and a 52-week low of Rs 424.60 on 10 January 2017.

The stock had underperformed the market over the past one month till 17 July 2017, gaining 0.19% compared with the Sensexs 3.28% rise. The stock had also underperformed the market over the past one quarter, gaining 1.69% as against the Sensexs 9.05% rise. The scrip had also underperformed the market over the past one year, dropping 9.53% as against the Sensexs 15.23% rise.

The large-cap bank has equity capital of Rs 479.44 crore. Face value per share is Rs 2.

Axis Banks marginal cost of funds based lending rate (MCLR) for overnight loans will be 7.8%, the rate for one month will be 7.8% and for three months it will be 8%. The MCLR on 6-month loans will be 8.15% and for one-year loans the rate will be 8.25%, the bank said. MCLR on two-year loans will be 8.3% and for three-year loans the rate will be 8.35%.

Axis Banks net profit fell 43.1% to Rs 1225.10 crore on 4.3% growth in total income to Rs 14181.31 crore in Q4 March 2017 over Q4 March 2016.

Axis Bank is one of the biggest private sector banks in India.

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RIL drops on profit booking
Jul 18,2017

Meanwhile, the S&P BSE Sensex was down 207.49 points or 0.65% at 31,867.29.

On the BSE, 1.20 lakh shares were traded on the counter so far as against the average daily volumes of 3.98 lakh shares in the past one quarter. The stock had hit a high of Rs 1,551.50 and a low of Rs 1,523.70 so far during the day. The stock had hit a 52-week high of Rs 1,558.80 yesterday, 17 July 2017 and a 52-week low of Rs 932 on 9 November 2016.

The stock had outperformed the market over the past one month till 17 July 2017, advancing 11.78% compared with the Sensexs 3.28% rise. The stock had also outperformed the market over the past one quarter, gaining 11.53% as against the Sensexs 9.05% rise. The scrip had also outperformed the market over the past one year, advancing 53.21% as against the Sensexs 15.23% rise.

The large-cap company has equity capital of Rs 3251.74 crore. Face value per share is Rs 10.

Shares of Reliance Industries (RIL) had witnessed a pre-result rally. The stock had surged 12.39% in the preceding eleven trading sessions to settle at Rs 1,551.35 yesterday, 17 July 2017, from its close of Rs 1,380.25 on 30 June 2017. RIL is scheduled to announce Q1 June 2017 results on Thursday, 20 July 2017.

Meanwhile, recent media reports suggested that the government has ordered RIL, Shell and ONGC to pay a combined $3 billion in penalty following an arbitration award in the Panna Mukta Tapti (PMT) oil field dispute that went in favour of the government.

According to reports, the oil ministry sent out a demand notice last month to RIL and Shell, which own 30% each in the PMT fields off the Mumbai coast, as well as to ONGC that owns the balance 40% participating interest. The three companies have to pay the penalty proportionate to their stake in the fields, reports added.

The dispute over state share of profit petroleum and royalty from the PMT fields raged for many years. Late last year, a London-based tribunal of arbitrators issued a final partial award (FPA), upholding key contentions of the government.

On consolidated basis, net profit of RIL rose 11.5% to Rs 8053 crore on 42.1% rise in net sales to Rs 84823 crore in Q4 March 2017 over Q4 March 2016.

RIL is Indias largest private sector company. RILs activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and telecommunications.

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Cigarette stocks tumble after GST Council hikes cess on cigarettes
Jul 18,2017

Meanwhile, the S&P BSE Sensex was down 197.63 points or 0.62% at 31,877.15.

ITC (down 11.51% at Rs 288.25), Godfrey Phillips India (down 4.57% at Rs 1,171.40), VST Industries (down 3.95% at Rs 3,420) and Golden Tobacco (down 3.63% at Rs 57) tumbled.

While the peak Goods and Services Tax (GST) rate of 28% stays and so does 5% ad valorem cess on top of it on the cigarettes, the fixed cess has been hiked between Rs 485 and Rs 792 per thousand sticks.

The increase in cess is expected to help the government raise around Rs 5000 crore of additional tax revenue, reports suggested.

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Cigarette stocks tumble after Govt hikes cess on cigarettes
Jul 18,2017

Meanwhile, the S&P BSE Sensex was down 197.63 points or 0.62% at 31,877.15.

ITC (down 11.51% at Rs 288.25), Godfrey Phillips India (down 4.57% at Rs 1,171.40), VST Industries (down 3.95% at Rs 3,420) and Golden Tobacco (down 3.63% at Rs 57) tumbled.

While the peak Goods and Services Tax (GST) rate of 28% stays and so does 5% ad valorem cess on top of it on the cigarettes, the fixed cess has been hiked between Rs 485 and Rs 792 per thousand sticks.

The increase in cess is expected to help the government raise around Rs 5000 crore of additional tax revenue, reports suggested.

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ITC plunges after hike in cess by GST council
Jul 18,2017

Ministry of Finance made the announcement after market hours yesterday, 17 July 2017.

Meanwhile, the S&P BSE Sensex was down 209.25 points or 0.65% at 31,865.53.

High volumes were witnessed on the counter. On the BSE, 42.12 lakh shares were traded on the counter so far as against the average daily volumes of 10.84 lakh shares in the past one quarter. The stock had hit a high of Rs 293.20 and a low of Rs 276.90 so far during the day.

The stock had hit a record high of Rs 353.20 on 3 July 2017 post incidence of lower tax after GST implementation from 1 July. The stock had hit a 52-week low of Rs 222.05 on 26 December 2016.

The stock had dropped 3.4% to Rs 325.75 yesterday, 17 July 2017, ahead of the meeting of GST council to consider cess on cigarettes.

The stock had outperformed the market over the past one month till 17 July 2017, gaining 6.35% compared with the Sensexs 3.28% rise. The stock had also outperformed the market over the past one quarter, gaining 16.76% as against the Sensexs 9.05% rise. The scrip had also outperformed the market over the past one year, advancing 30.88% as against the Sensexs 15.23% rise.

The large-cap company has equity capital of Rs 1216.18 crore. Face value per share is Rs 1.

The Goods & Services Tax (GST) Council in its meet yesterday, 17 July 2017, reviewed the compensation cess rates on cigarettes and recommended the increase in the same with effect from 18 July 2017.

The method of calibrating the compensation cess by the fitment committee did not take into consideration the cascading of taxes. As a result, the total tax incidence on cigarettes in GST regime has come down, as compared to the total tax in pre-GST regime. While any reduction in tax incidence on items of mass consumption would be welcome, the same would be unacceptable in case of demerit goods like cigarettes, press release said. Compensation cess rate on cigarettes will make the total tax incidence on cigarettes in GST regime at par with the total tax incidence in pre-GST regime.

For non filter cigarettes hike in cess ranged from Rs 485 to Rs 792 per thousand cigarettes while for filter cigarettes increase was in the range of Rs 485 to Rs 792 per thousand cigarettes.

The hike is seen as negative for ITC and some brokerages have even downgraded the stock and cut its target price.

ITCs net profit rose 12.1% to Rs 2669.47 crore on 14% growth in net sales to Rs 11125.54 crore in Q4 March 2017 over Q4 March 2016.

ITC is a diversified company, with presence in cigarettes, hotels, paperboards & specialty papers, packaging, agri-business, packaged foods & confectionery, information technology, branded apparel, personal care, stationery and other FMCG products. ITC is a market leader in cigarettes.

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SBI inches up after insurance arm files DRHP for IPO
Jul 18,2017

The announcement was made after market hours yesterday, 17 July 2017.

Meanwhile, the S&P BSE Sensex was down 194.52 points or 0.61% at 31,880.26.

On the BSE, 94,000 shares were traded on the counter so far as against the average daily volumes of 13.26 lakh shares in the past one quarter. The stock had hit a high of Rs 294.55 and a low of Rs 291.30 so far during the day. The stock had hit a 52-week high of Rs 315 on 19 May 2017 and a 52-week low of Rs 222.15 on 22 July 2016.

The stock had underperformed the market over the past one month till 17 July 2017, advancing 2.43% compared with the Sensexs 3.28% rise. The stock had also underperformed the market over the past one quarter, gaining 1.09% as against the Sensexs 9.05% rise. The scrip had, however, outperformed the market over the past one year, surging 26.48% as against the Sensexs 15.23% rise.

The large-cap state-run bank has equity capital of Rs 863.21 crore. Face value per share is Rs 1.

State Bank of India announced that its subsidiary, SBI Life Insurance Company has filed a draft red herring prospectus with the Sebi for an initial public offer of up to 12 crore equity shares of face value of Rs 10 each, representing up to 12% of its paid up equity share capital for cash, through an offer for sale (OFS) by State Bank of India and BNP Paribas Cardif S.A of up to 8 crore equity shares (representing 8% of the paid up share capital) and up to 4 crore equity shares (representing 4% of the paid up share capital), respectively.

The offer includes a proposed reservation of up to 1.20 crore equity shares for State Bank shareholders and a reservation of up to 20 lakh equity shares for eligible employees as part of the offer.

State Ban of Indias net profit surged 122.7% to Rs 2814.82 crore on 7.8% growth in total income to Rs 57720.07 crore in Q4 March 2017 over Q4 March 2016.

Government of India held 57.07% stake in State Bank of India (as on 12 June 2017).

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ACC hits record high after posting strong Q2 results
Jul 18,2017

The result was announced after market hours yesterday, 17 July 2017.

Meanwhile, the S&P BSE Sensex was down 236.58 points, or 0.74% to 31,838.20.

On the BSE, 7,532 shares were traded in the counter so far, compared with average daily volumes of 36,365 shares in the past one quarter. The stock had hit a high of Rs 1,798.85, which is also a record high for the stock. The stock hit a low of Rs 1,765 so far during the day.

ACC said that cement sales volume rose 10.1% to 6.74 million tonnes in Q2 June 2017 over Q2 June 2016. Operating earnings before interest, taxes, depreciation and amortization (EBITDA) rose 38% to Rs 637 crore in Q2 June 2017 over Q2 June 2016. Operating EBITDA margin improved to 19% in Q2 June 2017 from 16% in Q2 June 2016.

ACC approved payment of an interim dividend of Rs 11 per share for the year ending 31 December 2017 (FY 2017).

In its outlook, company said that it expects upward trajectory in cement demand supported by the prospects of a normal monsoon. Growing momentum in the launching of smart cities and urban infrastructure development & housing projects, together with the implementation of GST will also bring growth opportunities for the sector.

ACC is a manufacturer of cement and concrete and is a member of LafargeHolcim group. The company has a countrywide network of modern cement and concrete plants, sales offices, dealers and retailers.

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ITC declines on fears of increase in cess on tobacco
Jul 17,2017

Meanwhile, the S&P BSE Sensex was up 85.05 points or 0.27% at 32,105.80.

On the BSE, 12.89 lakh shares were traded on the counter so far as against the average daily volumes of 10.64 lakh shares in the past one quarter. The stock had hit a high of Rs 335 and a low of Rs 326.75 so far during the day. The stock had hit a record high of Rs 353.20 on 3 July 2017 and a 52-week low of Rs 222.05 on 26 December 2016.

The stock had outperformed the market over the past one month till 14 July 2017, advancing 12.49% compared with the Sensexs 2.78% rise. The stock had also outperformed the market over the past one quarter, gaining 20.54% as against the Sensexs 8.69% rise. The scrip had also outperformed the market over the past one year, advancing 35.5% as against the Sensexs 14.6% rise.

The large-cap company has equity capital of Rs 1216.18 crore. Face value per share is Rs 1.

According to reports, the Goods and Services Tax (GST) Council is likely to meet today, 17 July 2017, to consider a cess on tobacco. After the rollout of GST, excise duty has automatically been removed on tobacco products. Now only GST and cess are levied on these products. GST and cess combined on cigarettes is currently 6-8% lower than pre-GST regime.

ITCs net profit rose 12.1% to Rs 2669.47 crore on 14% growth in net sales to Rs 11125.54 crore in Q4 March 2017 over Q4 March 2016.

ITC is a diversified company, with presence in cigarettes, hotels, paperboards & specialty papers, packaging, agri-business, packaged foods & confectionery, information technology, branded apparel, personal care, stationery and other FMCG products. ITC is a market leader in cigarettes.

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RIL jumps 12.51% in eleven sessions
Jul 17,2017

Meanwhile, the S&P BSE Sensex was up 75.86 points or 0.24% at 32,096.61.

On the BSE, 1.99 lakh shares were traded on the counter so far as against the average daily volumes of 3.99 lakh shares in the past one quarter. The stock had hit a high of Rs 1,588.80, which is also a 52-week high for the stock. The stock had hit a low of Rs 1,534.30 so far during the day. The stock had hit a 52-week low of Rs 932 on 9 November 2016.

Shares of Reliance Industries (RIL) have risen 12.51% in eleven trading sessions to its current market price, from its close of Rs 1,380.25 on 30 June 2017.

The stock had outperformed the market over the past one month till 14 July 2017, gaining 12.92% compared with 2.78% gains in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 12.22% as against Sensexs 8.69% gains. The scrip had also outperformed the market in past one year, jumping 52.12% as against Sensexs 14.6% rise.

The large-cap company has equity capital of Rs 3251.74 crore. Face value per share is Rs 10.

RIL stock has surpassed Rs 5 lakh crore market capitalization for the first time in history.

RILs telecom subsidiary Reliance Jio Infocomm (Jio) had announced on 11 July 2017 that Jio Prime Members can enjoy unlimited services for 3 months with Rs 399 plan. The earlier launched Rs 309 plan will provide 2 months of unlimited Jio services.

The company will announce its Q1 results on 20 July 2017. On a consolidated basis, net profit of RIL rose 11.5% to Rs 8053 crore on 42.1% rise in net sales to Rs 84823 crore in Q4 March 2017 over Q4 March 2016.

RIL is Indias largest private sector company. RILs activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and telecommunications.

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Indian Metals surges after turnaround in Q1
Jul 17,2017

The result was announced during the market hours today, 17 July 2017.

Meanwhile, the S&P BSE Sensex was up 83.55 points, or 0.26% at 32,104.30. The S&P BSE Small-Cap index was up 16.11 points, or 0.1% at 15,924.12.

High volumes were witnessed on the counter. On the BSE, 54,000 shares were traded on the counter so far as against the average daily volumes of 21,251 shares in the past one quarter. The stock had hit a high of Rs 565.35 and a low of Rs 538 so far during the day. The stock had hit a 52-week high of Rs 823 on 21 March 2017 and a 52-week low of Rs 134 on 27 July 2016.

The stock had outperformed the market over the past one month till 14 July 2017, advancing 38.94% compared with the Sensexs 2.78% rise. The scrip had, however, underperformed the market over the past one quarter sliding 7.47% as against the Sensexs 8.69% rise. The scrip had, however, outperformed the market over the past one year advancing 286.4% as against the Sensexs 14.6% rise.

The small-cap company has equity capital of Rs 26.98 crore. Face value per share is Rs 10.

Indian Metals & Ferro Alloyss total income rose 71.3% to Rs 438.97 crore in Q1 June 2017 over Q1 June 2016.

Indian Metals & Ferro Alloys is a producer of ferro chrome and ferro alloys. The company operates through three segments: ferro alloys, power and mining.

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Shreyas Shipping sails ahead after acquiring vessel
Jul 17,2017

The announcement was made by the company after market hours on Friday, 14 July 2017.

Meanwhile, the S&P BSE Sensex was up 76.56 points, or 0.24% to 32,097.31. The S&P BSE Small-Cap index was up 15.80 points, or 0.1% to 15,923.81.

On the BSE, 2,232 shares were traded in the counter so far, compared with average daily volumes of 11,016 shares in the past one quarter. The stock had hit a high of Rs 345 and a low of Rs 331.50 so far during the day. The stock had hit a 52-week high of Rs 464.55 on 11 July 2016. The stock had hit a 52-week low of Rs 193.10 on 26 December 2016.

The stock had outperformed the market over the past one month till 14 July 2017, gaining 3.69% compared with 2.78% gains in the Sensex. The scrip had, however, underperformed the market in past one quarter, gaining 3.05% as against Sensexs 8.69% gains. The scrip had also underperformed the market in past one year, dropping 24.97% as against Sensexs 14.6% rise.

The small-cap company has equity capital of Rs 21.96 crore. Face value per share is Rs 10.

Shreyas Shipping & Logistics said that the delivery of the vessel is expected in the first week of September 2017.

On a consolidated basis, Shreyas Shipping & Logistics reported net loss of Rs 9.94 crore in Q4 March 2017 as against net profit of Rs 15.11 crore in Q4 March 2016. Net sales rose 4.7% to Rs 184.31 crore in Q4 March 2017 over Q4 March 2016.

Shreyas Shipping & Logistics, the Indian flagged vessel owning unit of Transworld Group, is a pioneer and market leader in domestic coastal container shipping covering all main ports and container terminals on the Indian coast.

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Jubilant FoodWorks heads north after good Q1 results
Jul 17,2017

The result was announced during market hours today, 17 July 2017.

Meanwhile, the S&P BSE Sensex was up 63.11 points or 0.2% at 32,083.86. The S&P BSE Mid-Cap index declined 4.69 points or 0.03% at 15,182.72.

On the BSE, 3.48 lakh shares were traded on the counter so far as against the average daily volumes of 58,563 shares in the past one quarter. The stock had hit a high of Rs 1,242 and a low of Rs 1,161.30 so far during the day. The stock had hit a 52-week high of Rs 1,298.80 on 2 August 2016 and a 52-week low of Rs 761 on 26 December 2016.

The stock had outperformed the market over the past one month till 14 July 2017, advancing 21.19% compared with the Sensexs 2.78% rise. The stock had also outperformed the market over the past one quarter, gaining 15.05% as against the Sensexs 8.69% rise. The scrip had, however, underperformed the market over the past one year, sliding 2.3% as against the Sensexs 14.6% rise.

The mid-cap company has equity capital of Rs 65.98 crore. Face value per share is Rs 10.

Jubilant FoodWorks President & CFO Sachin Sharma has resigned from the services of the company. His last working day will be 21 July 2017. The Board will appoint his successor in due course.

Jubilant FoodWorks is part of Jubilant Bhartia group and Indias largest food service company with a network of Dominos Pizza restaurants pan India. The company & its subsidiary have the exclusive rights to develop and operate Dominos Pizza brand in India, Sri Lanka, Bangladesh and Nepal. The company also has exclusive rights for developing and operating Dunkin Donuts restaurants for India.

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Unitech leads gainers in A group
Jul 17,2017

Unitech jumped 12.68% to Rs 8.62 at 14:00 IST. The stock topped the gainers in the BSEs A group. On the BSE, 2.53 crore shares were traded on the counter so far as against the average daily volumes of 2.17 crore shares in the past two weeks.

Srei Infrastructure Finance surged 10.37% at Rs 126.10. The stock was second biggest gainer in A group. On the BSE, 10.65 lakh shares were traded on the counter so far as against the average daily volumes of 1.8 lakh shares in the past two weeks.

Jaiprakash Associates advanced 7.23% to Rs 22.25. The stock was third biggest gainer in A group. On the BSE, 78.78 lakh shares were traded on the counter so far as against the average daily volumes of 1.29 crore shares in the past two weeks.

Jubilant FoodWorks gained 4.79% at Rs 1,221.75. The stock was fourth biggest gainer in A group. On the BSE, 2.92 lakh shares were traded on the counter so far as against the average daily volumes of 83,000 shares in the past two weeks.

Dr Lal PathLabs rose 3.49% to Rs 860.70. The stock was fifth biggest gainer in A group. On the BSE, 17,000 shares were traded on the counter so far as against the average daily volumes of 20,000 shares in the past two weeks.

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Volumes jump at Mafatlal Industries counter
Jul 17,2017

Mafatlal Industries clocked volume of 7.57 lakh shares by 13:40 IST on BSE, a 113.87-times surge over two-week average daily volume of 7,000 shares. The stock surged 9.97% at Rs 300.

Siyaram Silk Mills notched up volume of 53,000 shares, a 50-fold surge over two-week average daily volume of 1,000 shares. The stock rose 2.05% at Rs 2,432.

Kansai Nerolac Paints saw volume of 1.56 lakh shares, a 16.15-fold surge over two-week average daily volume of 10,000 shares. The stock lost 1.19% at Rs 444.

Grasim Industries clocked volume of 12.73 lakh shares, a 15.37-fold surge over two-week average daily volume of 83,000 shares. The stock rose 2.86% at Rs 1,309.30.

Jay Bharat Maruti saw volume of 1.95 lakh shares, a 8.55-fold rise over two-week average daily volume of 23,000 shares. The stock jumped 8.82% at Rs 722.55.

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Ramco extends recent rally
Jul 17,2017

Meanwhile, the S&P BSE Sensex was up 56.28 points or 0.18% at 32,077.03. The S&P BSE Small-Cap index advanced 9.38 points or 0.06% at 15,917.39.

On the BSE, 35,000 shares were traded on the counter so far as against the average daily volumes of 9,146 shares in the past one quarter. The stock had hit a high of Rs 397.80 and a low of Rs 378.90 so far during the day. The stock had hit a 52-week high of Rs 706 on 11 July 2016 and a 52-week low of Rs 286 on 15 December 2016.

The stock had outperformed the market over the past one month till 14 July 2017, advancing 19.52% compared with the Sensexs 2.78% rise. The stock had, however, underperformed the market over the past one quarter, declining 2.64% as against the Sensexs 8.69% rise. The scrip had also underperformed the market over the past one year, sliding 45.26% as against the Sensexs 14.6% rise.

The small-cap company has equity capital of Rs 30.44 crore. Face value per share is Rs 10.

Shares of Ramco Systems have jumped 16.34% in three trading sessions to its ruling market price, from its close of Rs 336.50 on 12 July 2017 after the company announced during market hours on 13 July 2017 that it has won an order win from China Southern Airlines General Aviation (CSAGA) for integrating its organization-wide maintenance and engineering operations.

CSAGA, which operates Asias largest fleet of Sikorsky helicopters, will implement Ramco Aviation Maintenance & Engineering Suite 5.8, enabling its staff across China to automate and manage fleet data in real time.

Ramco Aviation Suite V5.8 is a powerful enterprise application that covers the entire spectrum of maintenance operations both for the civil and the military helicoptersn++from maintenance planning to line, hangar, shop and engine maintenance, reliability and engineering, and technical records.

On consolidated basis, Ramco Systems net profit surged 160.38% to Rs 8.02 crore on 1.32% growth in net sales to Rs 114.31 crore in Q4 March 2017 over Q3 December 2016.

Ramco Systems is a fast growing enterprise software player disrupting the market with its multi-tenanted cloud and mobile-based enterprise software in the area of HCM and Global Payroll, ERP and M&E MRO for Aviation.

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