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Future Retail jumps after board OKs demerger of home retail ops
Apr 20,2017

The announcement was made during trading hours today, 20 April 2017.

Meanwhile, the S&P BSE Sensex was up 49.77 points, or 0.17% to 29,386.34.

On the BSE, 1.96 lakh shares were traded in the counter so far, compared with average daily volumes of 1.21 lakh shares in the past one quarter. The stock had hit a high of Rs 312.85 so far during the day, which is also record high for the counter. The stock had hit a low of Rs 290.40 so far during the day. The stock hit a record low of Rs 116.10 on 5 December 2016.

The stock had outperformed the market over the past one month till 19 April 2017, rising 15.14% compared with 0.50% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 76.42% as against Sensexs 7.43% rise.

The large-cap company has equity capital of Rs 94.36 crore. Face value per share is Rs 2.

Future Retail announced that its board approved demerging the companys home retail business operated via HomeTown stores into Praxis Home Retail. Post the demerger, the company will list Praxis Home retail on stock exchanges. Praxis Home will issue 1 share to Future Retail shareholders for every 20 shares held, the filing said.

Further, the companys board also approved raising the firms foreign investment limit to 49% from 24%.

Future Retails net profit rose 87.7% to Rs 101.05 crore on 77.4% increase in net sales to Rs 4321.75 crore in Q3 December 2016 over Q3 December 2015.

Future Retail operates hypermarket and home solutions retail formats.

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Network 18 Media spurts about 13% in two sessions
Apr 20,2017

Meanwhile, the S&P BSE Sensex was up 53.42 points, or 0.18% to 29,475.81.

On the BSE, 6.92 lakh shares were traded in the counter so far, compared with average daily volumes of 2.39 lakh shares in the past one quarter. The stock had hit a high of Rs 46.25 and a low of Rs 40.80 so far during the day. The stock hit a 52-week high of Rs 49.20 on 29 September 2016. The stock hit a 52-week low of Rs 30.50 on 27 December 2016.

The stock had outperformed the market over the past one month till 20 April 2017, rising 17.99% compared with 0.87% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 17.82% as against Sensexs 8.83% rise.

The mid-cap company has equity capital of Rs 523.47 crore. Face value per share is Rs 5.

The board of directors of Network 18 Media & Investments at its meeting held yesterday, 19 April 2017, evaluated the proposal of restructuring its business of food and restaurant search and recommendation engine operated under the name of BURRP, which has insignIficant contribution to the revenue of the company.

The board has given in-principle approval to sell/transfer/dispose-off or transfer BURRP to any other entity including a related party/getting a strategic investor.

In this regard, the board has authorised certain directors and officers of the company to evaluate the various options and take such further action in the matter, as may be suitable, after complying with necessary regulatory requirements.

The announcement was made after market hours on Wednesday, 19 April 2017. Shares of Network 18 Media & Investments rose 3.22% to end at Rs 41.65 yesterday, 20 April 2017. The stock has risen 12.76% in two trading session from its close of Rs 40.35 on Wednesday, 19 April 2017.

On a consolidated basis, Network 18 Media & Investments reported net loss of Rs 33.32 crore in Q4 March 2017 as against net loss of Rs 24.99 crore in Q4 March 2016. Net sales declined 18.08% to Rs 387.67 crore in Q4 March 2017 over Q4 March 2016.

Network18 Media and Investments is a media and entertainment company with interests in television, internet, filmed entertainment, digital business, magazines, mobile content and allied businesses.

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Board of Autoline Industries approves settlement of dispute with CJ Holdings
Apr 20,2017

Autoline Industries announced that the Board of Directors at its meeting held on 17 April 2017 considered the matter of dispute raised by CJ Holdings North America, LLC (CJ Holdings) with reference to Stock Purchase Agreement dated 23 December 2014 (SPA) entered into by the Company with CJ Holdings for selling of its entire holding in its Overseas Subsidiaries i.e. Autoline Butler, Indiana and its step down subsidiaries.

CJ Holdings alleged the accuracy of certain representations and warranties in the SPA and the consummation of the transactions contemplated in the SPA and claimed that it sustained substantial damages.

After in depth study of claim and thorough discussion with US Counsel/Attorney of the Company and independent firm of CPAs, the matter was put before the Board meeting of the Company for consideration and the Board deliberated in the matter and it was noted that the Company does not accept any of the allegations of CJ but considering the high likelihood that CJ Holding will recover $ 1.00 million under SPA as indemnification damages cap, high cost of litigating a lawsuit in US, uncertainty of outcome of litigation etc. the Board has approved and accepted settlement of claim for an amount of $ 1.7 million which is to be paid in instalments upto 16 June 2018 subject to RBI and other necessary approvals. The Company has executed settlement agreement on 18 April 2017.

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Precious metals lose shine
Apr 20,2017

precious metals ended lower at Comex on Wednesday, 19 April 2017. Gold prices tumbled to their lowest finish in a week on Wednesday as the dollar clawed its way up from the three-week low reached on Tuesday. Still, tensions over North Korea and looming French and U.K. elections that hold implications for the European economy have provided haven investor demand for precious metals in recent days.

On Wednesday, June gold fell $10.70, or 0.8%, to settle at $1,283.40 an ounce. Gold prices had scored a fifth straight session gain on Tuesday to settle at their highest level since early November. Prices for the yellow metal initially extended their losses in electronic trading after the Federal Reserve released its Beige Book synopsis of economic conditions after the gold-price settlement on Wednesday. But prices edged up to $1,283.70 about a half an hour after the report.

May silver meanwhile, fell 11 cents, or 0.6%, to settle at $18.162 an ounce, with prices holding ground around that level shortly after the Beige Book release.

The ICE U.S. Dollar Index rose 0.2% to 99.716. Gold and the dollar often move inversely as a stronger dollar dulls the appeal of dollar-pegged assets for investors using other currencies.

Meanwhile, U.S. equities, assets considered risky, traded on a mixed note, while crude-oil futures dropped on the back of a surprise weekly climb in U.S. gasoline stockpiles, ahead of the May contracts expiration on Thursday.

Investors remained nervous ahead of Frances first round of the countrys presidential election on Sunday. British Prime Minister Theresa Mays call on Tuesday for a snap general election in June, a strategic step as she navigates Britains exit from the European Union, added to riskier market nervousness, underpinning gold and silver.

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Yes Bank slips as sticky loans rise in Q4
Apr 20,2017

The result was announced after market hours yesterday, 19 April 2017.

Meanwhile, the S&P BSE Sensex was up 38.06 points or 0.13% at 29,374.63.

On the BSE, 1.76 lakh shares were traded on the counter so far as against the average daily volumes of 1.70 lakh shares in the past one quarter. The stock had hit a high of Rs 1,574.40 and a low of Rs 1,501 so far during the day.

The stock had hit a record high of Rs 1,638 on 13 April 2017 and a 52-week low of Rs 871.45 on 25 April 2016. It had outperformed the market over the past one month till 19 April 2017, advancing 6.46% compared with the Sensexs 1.05% fall. The scrip had also outperformed the market over the past one quarter, gaining 19.17% as against the Sensexs 7.43% rise.

The large-cap bank has equity capital of Rs 456.67 crore. Face value per share is Rs 10.

Yes Banks net profit rose 30.2% to Rs 914.10 crore on 29.4% rise in total income to Rs 5606.38 crore in Q4 March 2017 over Q4 March 2016.

The banks gross non-performing assets (NPAs) rose to Rs 2018.56 crore as on 31 March 2017 as against Rs 1005.85 crore as on 30 December 2016 and Rs 748.98 crore as on 31 March 2016.

The ratio of gross NPAs to gross advances rose to 1.52% as on 31 March 2017 as against 0.85% as on 31 December 2016 and 0.76% as on 31 March 2016. The ratio of net NPAs to net advances stood at 0.81% as on 31 March 2017 as against 0.29% as on 31 December 2016 and 0.29% as on 31 March 2016.

The banks provisions and contingencies (excluding tax provisions) rose 66.11% to Rs 309.73 crore in Q4 March 2017 over Q4 March 2016.

The board of directors of the bank recommended the payment of final dividend Rs 12 per share for the year ended 31 March 2017 (FY 2017).

The board has also approved raising of funds by way of issuance of debt securities including but not limited to non-convertible debentures, MTN (medium term notes), bonds upto Rs 20000 crore (in Rupee or foreign currency) by the bank to eligible investors on private placement, subject to approval of the shareholders.

Yes Bank is one of the leading private sector banks in India.

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Board of TPL Plastech approves change in directorate
Apr 20,2017

The Board of Directors of TPL Plastech have appointed Mangesh Sarfare as Whole Time Director and Anil Jain as an Additional Director on the Board of the Company. The Board has accepted the resignation of existing Whole Time Director Kamlesh Joisher.

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Central Government amends Pradhan Mantri Garib Kalyan Deposit Scheme through a Notification
Apr 20,2017

. In exercise of the powers conferred by clause (c) of Section 199B of the Finance Act, 2016 (28 of 2016), the Central Government has amended through a Notification the conditions specified in clause 5 of the Pradhan Mantri Garib Kalyan Deposit Scheme.

Following is the amended Clause 5:

Now the effective date of opening of the Bonds Ledger Account shall be the date of receipt of deposits by the Reserve Bank of India (RBI) from the authorized banks; wherein the due tax, surcharge and penalty has been received till 31st March, 2017; Provided further that the date of deposit shall in no case be extended beyond 30th April, 2017.

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Tata Steel in focus ahead of Q4 results
Apr 20,2017

Tata Steel is scheduled to announce Q4 March 2017 results today, 20 April 2017.

Among other companies, CRISIL, Cyient, Hindustan Zinc, Mastek and MindTree will announce their results for the quarter ended March 2017 today, 20 April 2017.

Yes Banks net profit rose 30.2% to Rs 914.10 crore on 29.44% rise in total income to Rs 5606.38 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 19 April 2017.

The banks gross non-performing assets (NPAs) rose to Rs 2018.56 crore as on 31 March 2017 as against Rs 1005.85 crore as on 30 December 2016 and Rs 748.98 crore as on 31 March 2016.

The ratio of gross NPAs to gross advances rose to 1.52% as on 31 March 2017 as against 0.85% as on 31 December 2016 and 0.76% as on 31 March 2016. The ratio of net NPAs to net advances stood at 0.81% as on 31 March 2017 as against 0.29% as on 31 December 2016 and 0.29% as on 31 March 2016.

The banks provisions and contingencies (excluding tax provisions) rose 66.11% to Rs 309.73 crore in Q4 March 2017 over Q4 March 2016.

The board of directors of the bank recommended the payment of final dividend Rs 12 per share for the year ended 31 March 2017 (FY 2017).

The board has also approved raising of funds by way of issuance of debt securities including but not limited to non-convertible debentures, MTN (medium term notes), bonds upto Rs 20000 crore (in Rupee or foreign currency) by the bank to eligible investors on private placement.

NTPC said that its board of directors accorded approval for updating and upsizing the $4 billion medium term notes (MTN) programme upto $6 billion for raising debt from international markets to part finance the capital expenditure on new/ongoing projects, coal mining projects, renovation and modernization of power stations and for other permissible end uses.

The board of directors has approved the proposal to issue Notes up to Rs 5000 crore (Rupee denominated bonds) and/or upto $750 million equivalent (foreign currency bonds other than Rupee denominated) in the international markets either under the MTN programme or on standalone basis, in one or more tranches on the terms and conditions as may be agreed with the prospective investor(s) to finance the capital expenditure of new/ongoing projects, coal mining projects, renovation and modernization of power stations and/or for such other purposes as permissible under the ECB guidelines of the RBI. The announcement was made after market hours yesterday, 19 April 2017.

Jaypee Infratech issued clarification to the stock exchanges with regard to media news titled YEIDA asks Jaypee to pay Rs 90 crore by April 15. The company said the news item does not belong to the company nor have it received any notice from the Yamuna Expressway Industrial Development Authority (YEIDA) for any such payment.

The project belongs to its holding company, Jaiprakash Associates (JAL), Jaypee Infratech said. Further, Jaypee Infratech said it is in the process of taking up the matter with the YEIDA. The company added that it is making its sincere efforts to complete and deliver the projects to the buyers and is in touch with them. Necessary funds required for the working capital have already been tied up with banks and the work on various projects will commence soon, Jaypee Infratech said in a filing to the BSE. The announcement was made after market hours yesterday, 19 April 2017.

GRP said it has signed a manufacturing and supply agreement with a USA based company. The agreement is for exclusive manufacture, process and supply of composite products. The manufacturing facility will be set up at one of the existing GRP plants in Maharashtra and is expected to commence before end of this fiscal year. Investment in the equipment for the venture is estimated at Rs 2.20 crore. The announcement was made after market hours yesterday, 19 April 2017.

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Tata Steel in focus ahead of board meeting
Apr 20,2017

Tata Steels board is scheduled to meet today, 20 April 2017, to consider a proposal for fund raising.

Among other companies, CRISIL, Cyient, Hindustan Zinc, Mastek and MindTree will announce their results for the quarter ended March 2017 today, 20 April 2017.

Yes Banks net profit rose 30.2% to Rs 914.10 crore on 29.44% rise in total income to Rs 5606.38 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 19 April 2017.

The banks gross non-performing assets (NPAs) rose to Rs 2018.56 crore as on 31 March 2017 as against Rs 1005.85 crore as on 30 December 2016 and Rs 748.98 crore as on 31 March 2016.

The ratio of gross NPAs to gross advances rose to 1.52% as on 31 March 2017 as against 0.85% as on 31 December 2016 and 0.76% as on 31 March 2016. The ratio of net NPAs to net advances stood at 0.81% as on 31 March 2017 as against 0.29% as on 31 December 2016 and 0.29% as on 31 March 2016.

The banks provisions and contingencies (excluding tax provisions) rose 66.11% to Rs 309.73 crore in Q4 March 2017 over Q4 March 2016.

The board of directors of the bank recommended the payment of final dividend Rs 12 per share for the year ended 31 March 2017 (FY 2017).

The board has also approved raising of funds by way of issuance of debt securities including but not limited to non-convertible debentures, MTN (medium term notes), bonds upto Rs 20000 crore (in Rupee or foreign currency) by the bank to eligible investors on private placement.

NTPC said that its board of directors accorded approval for updating and upsizing the $4 billion medium term notes (MTN) programme upto $6 billion for raising debt from international markets to part finance the capital expenditure on new/ongoing projects, coal mining projects, renovation and modernization of power stations and for other permissible end uses.

The board of directors has approved the proposal to issue Notes up to Rs 5000 crore (Rupee denominated bonds) and/or upto $750 million equivalent (foreign currency bonds other than Rupee denominated) in the international markets either under the MTN programme or on standalone basis, in one or more tranches on the terms and conditions as may be agreed with the prospective investor(s) to finance the capital expenditure of new/ongoing projects, coal mining projects, renovation and modernization of power stations and/or for such other purposes as permissible under the ECB guidelines of the RBI. The announcement was made after market hours yesterday, 19 April 2017.

Jaypee Infratech issued clarification to the stock exchanges with regard to media news titled YEIDA asks Jaypee to pay Rs 90 crore by April 15. The company said the news item does not belong to the company nor have it received any notice from the Yamuna Expressway Industrial Development Authority (YEIDA) for any such payment.

The project belongs to its holding company, Jaiprakash Associates (JAL), Jaypee Infratech said. Further, Jaypee Infratech said it is in the process of taking up the matter with the YEIDA. The company added that it is making its sincere efforts to complete and deliver the projects to the buyers and is in touch with them. Necessary funds required for the working capital have already been tied up with banks and the work on various projects will commence soon, Jaypee Infratech said in a filing to the BSE. The announcement was made after market hours yesterday, 19 April 2017.

GRP said it has signed a manufacturing and supply agreement with a USA based company. The agreement is for exclusive manufacture, process and supply of composite products. The manufacturing facility will be set up at one of the existing GRP plants in Maharashtra and is expected to commence before end of this fiscal year. Investment in the equipment for the venture is estimated at Rs 2.20 crore. The announcement was made after market hours yesterday, 19 April 2017.

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Essar Shipping announces change in registered office
Apr 19,2017

Essar Shipping has shifted its registered office to EBTSL Premises, ER-2 Building (Admin Building), Salaya, 44 KM, P.O. Box No. 7, Taluka Khambhalia, Devbhumi Dwarka, Gujarat - 361305.

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Shoppers Stop shifts registered office
Apr 19,2017

Shoppers Stop has shifted its registered office to Umang Tower, 5th Floor, Mindspace, Off. Link Road, Malad (West), Mumbai-400 064, Maharashtra with effect from 17 April 2017.

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GRP signs manufacturing and supply agreement with an US entity
Apr 19,2017

GRP has signed a manufacturing and supply agreement with a USA based company. The agreement is for exclusive manufacture, process and supply of composite products. The manufacturing facility will be set up at one of the existing GRP plants in Maharashtra and is expected to commence before end of this fiscal year. Investment in the equipment for the venture is estimated at Rs 2.20 crore.

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Tata Consultancy Services gets shareholder approval for buyback of shares
Apr 19,2017

Tata Consultancy Services announced that the shareholders of the Company have approved the special resolution for buyback of equity shares of the Company.

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Board of Appu Marketing & Manufacturing approves launch of new e-commerce website
Apr 19,2017

Appu Marketing & Manufacturing announced that the Board of Directors of the Company at its meeting held on 19 April 2017 has approved the launch of a new e-commerce website for birthday accessories and gifts, namely www.birthdaystore.in.

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VBC Ferro Alloys announces resignation of director
Apr 19,2017

VBC Ferro Alloys announced that Dr. B. Kinnera Murthy Independent(Woman) Director has submitted her resignation for the position of Director of the Company vide her letter dated 17 April 2017 and the same was received by Company on 19 April 2017.

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