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Adani Ports advances on plans to issue foreign currency denominated bonds
Jan 10,2017

The announcement was made before market hours today, 10 January 2017.

Meanwhile, the BSE Sensex was up 125.38 points, or 0.47%, to 26,851.93.

On the BSE, 41,989 shares were traded in the counter so far, compared with average daily volume of 3.06 lakh shares in the past one quarter. The stock had hit a high of Rs 290.05 and a low of Rs 285.10 so far during the day. The stock had hit a 52-week high of Rs 317 on 25 October 2016. The stock had hit a 52-week low of Rs 169.65 on 12 February 2016.

The stock had underperformed the market over the past one month till 9 January 2017, falling 0.33% compared with the Sensexs 0.08% fall. The scrip had, however, outperformed the market in past one quarter, rising 6.65% as against the Sensexs 4.76% fall.

The large-cap company has equity capital of Rs 414.19 crore. Face value per share is Rs 2.

The proposed issue of foreign currency denominated bonds has already been approved by the board of directors of the company at a meeting held on 2 November 2015 and by the shareholders at a meeting held on 9 August 2016.

The pricing, tenure and other terms of the bonds to be issued pursuant to the issue will be determined by the Finance Committee of the company. The details of which shall be intimated in due course and shall take place on 12 January 2017 or on a later date subject to market conditions and other considerations, Adani Ports said.

Adani Ports and Special Economic Zones (APSEZ) consolidated net profit rose 61% to Rs 1090.81 crore on 20.7% increase in net sales to Rs 2175.77 crore in Q2 September 2016 over Q2 September 2015.

APSEZ, a part of the Adani Group, is Indias largest private port operator.

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Future Consumer gains on proposal to issue debentures
Jan 10,2017

The announcement was made after market hours yesterday, 09 January 2017.

Meanwhile, the S&P BSE Sensex was up 118.59 points or 0.44% at 26,845.14.

On the BSE, 51,000 shares were traded on the counter so far as against the average daily volumes of 6.37 lakh shares in the past one quarter. The stock had hit a high of Rs 21.55 and a low of Rs 21.10 so far during the day.

The stock had hit a 52-week high of Rs 25.40 on 29 June 2016 and a 52-week low of Rs 18.10 on 9 November 2016.

The mid-cap company has equity capital of Rs 997.50 crore. Face value per share is Rs 6.

Future Consumers said that a meeting of the board of directors of the company is scheduled on 12 January 2017 to consider issue of non-convertible debentures on private placement basis or otherwise.

On a consolidated basis, Future Consumer reported net loss of Rs 16.17 crore in Q2 September 2016, lower than net loss of Rs 28.66 crore in Q2 September 2015. Net sales rise 30.6% to Rs 559.83 crore in Q2 September 2016 over Q2 September 2015.

Future Consumer is Indias first sourcing-to-supermarket food company by Future Group.

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Max Ventures surges after selling partial stake to New York Lifes subsidiary
Jan 10,2017

The announcement was made after market hours yesterday, 9 January 2017.

Meanwhile, the S&P BSE Sensex was up 124.44 points or 0.47% at 26,857.70.

Huge volumes were witnessed on the counter. On the BSE, 14.09 lakh shares were traded on the counter so far as against the average daily volumes of 1.08 lakh shares in the past one quarter. The stock had hit a high of Rs 79.15 and a low of Rs 74.80 so far during the day. The stock had hit a record high of Rs 85.80 on 7 July 2016. The stock had hit a record low of Rs 43.30 on 21 November 2016.

The stock had outperformed the market over the past one month till 9 January 2017, gaining 12.97% compared with the Sensexs 0.08% fall. The scrip had also outperformed the market in past one quarter, rising 32.77% as against the Sensexs 4.76% fall.

The small-cap company has equity capital of Rs 53.45 crore. Face value per share is Rs 10.

The board of Max Ventures and Industries (MaxVIL) made a preferential offer, subject to shareholders approval, to issue common stock to a subsidiary of New York Life Insurance Company. New York Life is the largest mutual life insurance company in the United States and one of the largest life insurers in the world, with more than $500 billion under management.

Subject to MaxVILs shareholders approval, a subsidiary of New York Life Insurance Company will acquire a 22.51% equity stake in MaxVIL at an offer price of Rs 78 per share aggregating to Rs 121 crore on a diluted basis and will be entitled to one nominee director to the board of MaxVIL.

The offer price of Rs 78, was at a premium of 16.33% to the closing price of Rs 67.05 hit yesterday, 9 January 2017.

The board of MaxVIL also proposed an allotment of 34.48 lakh share warrants to the promoter group, namely, Shiva Enterprises, equivalent to 4.76% of the post-issue share capital of the company on a fully diluted basis assuming full conversion of the warrants. These share warrants will be issued at Rs 78 per warrant aggregating to Rs 26.9 crore and will be convertible into equivalent equity shares within 18 months, taking the shareholding of the promoter group in MaxVIL to around 38.02% on fully diluted basis.

New York Life and the Max Group have a longstanding association. In 2001, the two entities partnered to set up Max New York Life n++ one of Indias largest private life insurance companies. In 2012, New York Life sold its 26% stake in Max New York Life to Mitsui Sumitomo Insurance Co. Ltd., after which the life insurance company was renamed Max Life.

Max Ventures and Industries consolidated net profit fell 90.4% to Rs 0.45 crore on 4% decline in net sales to Rs 169.89 crore in Q2 September 2016 over Q1 June 2016.

MaxVIL is the newest entity in the Max Group of companies that came into existence after the erstwhile Max India Group was demerged into Max Financial Services Limited, Max India Limited and Max Ventures and Industries Limited (MaxVIL).

MaxVIL has four distinct business verticals Max Speciality Films (manufacturing), Max Estates (real estate), Max Learning (education) and Max I. (i.e. intellectual and financial support). Other investors in MaxVIL include International Finance Corporation (IFC) and Reliance Mutual Fund.

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Ajanta Pharma gains after receiving USFDA approval for Duloxetine
Jan 10,2017

The announcement was made after market hours yesterday, 9 January 2017.

Meanwhile, the S&P BSE Sensex was up 116.87 points or 0.44% at 26,843.42

On the BSE, 5,751 shares were traded on the counter so far as against the average daily volumes of 10,657 shares in the past one quarter. The stock had hit a high of Rs 1,819.75 and a low of Rs 1,793.20 so far during the day.

The stock had hit a record high of Rs 2,150 on 28 October 2016. The stock had hit a 52-week low of Rs 1,103 on 18 January 2016. The stock had underperformed the market over the past 30 days till 9 January 2017, falling 5.23% compared with Sensexs 0.08% fall. The scrip had also underperformed the market in past one quarter, sliding 9.23% as against Sensexs 4.83% decline.

The large-cap company has equity capital of Rs 17.60 crore. Face value per share is Rs 2.

Ajanta Pharma announced the receipt of final approval for Duloxetine Hydrochloride Delayed Release Capsules from US Food and Drug Administration (US FDA). It is a bioequivalent generic version of Cymbalta1 Delayed Release Capsules. The company will be launching the product shortly in 3 strengths, 20 mg, 30 mg and 60 mg strengths capsules.

Duloxetine Hydrochloride Delayed Release Capsules is part of an ever growing portfolio of products that Ajanta has developed for the US market. In total, Ajanta has 32 Abbreviated New Drug Application (ANDA) of which it has 17 final ANDA approvals, 2 tentative approvals and 13 ANDAs under review with US FDA.

On a consolidated basis, net profit of Ajanta Pharma rose 119.55% to Rs 130.66 crore on 14.57% rise in net sales to Rs 502.38 crore in Q2 September 2016 over Q2 September 2015.

Ajanta Pharma is a specialty pharmaceutical formulation company with global headquarters in Mumbai. The company is engaged in developing, manufacturing and marketing of quality finished dosages across 30 plus countries.

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Engineers India hardens after large order win
Jan 10,2017

The announcement was made after market hours yesterday, 9 January 2017.

Meanwhile, the S&P BSE Sensex was up 163.31 points, or 0.61%, to 26,889.86

On the BSE, 2.16 lakh shares were traded on the counter so far as against the average daily volumes of 2.73 shares in the past one quarter. The stock had hit a high of Rs 160.65 and a low of Rs 157.50 so far during the day.

The stock hit a 52-week high of Rs 169.90 on 29 December 2016. The stock hit a 52-week low of Rs 71.63 on 17 February 2016.

The large-cap company has equity capital of Rs 336.94 crore. Face value per share is Rs 5.

Engineers India announced that Hindustan Petroleum Corporation (HPCL) has entrusted the project for execution of Vizag refinery modernization project (VRMP) to the company. Engineers India shall execute this project contract under two separate contracts, namely PMC services for major process units and packages under U&O and execution of U&O and PRU revamp on open book estimate (OBE) basis. The total awarded order value is more than Rs 2500 crore with a total project schedule of 43 months for mechanical completion.

Engineers Indias net profit rose 21.4% to Rs 93.75 crore on 24.6% decline in net sales to Rs 338.89 crore in Q2 September 2016 over Q2 September 2015.

State-run Engineers India provides engineering consultancy and engineering, procurement and construction (EPC) services. The Government of India holds 59.37% in Engineers India (as per shareholding pattern as on 30 September 2016).

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Skipper drops after twin bulk deals
Jan 09,2017

A bulk deal of shares 16.37 lakh shares was executed on the scrip at Rs 143.30 per share at 14:16 IST on BSE. Another bulk deal of 7.14 lakh shares was executed on the scrip at Rs 142.20 per share at 14:17 IST on BSE.

Meanwhile, the BSE Sensex was down 32.68 points, or 0.12%, to 26,726.55

Bulk deals boosted volume on the scrip. On BSE, 27.65 lakh shares were traded in the counter, compared with average daily volume of 17,241 shares in the past one quarter. The stock hit a high of Rs 146 and a low of Rs 136.70 so far during the day. The stock hit a 52-week high of Rs 205.90 on 7 January 2016. The stock hit a 52-week low of Rs 122 on 29 February 2016.

The small-cap company has an equity capital of Rs 10.23 crore. Face value per share is Re 1.

Net profit of Skipper dropped 25.26% to Rs 22.64 crore on 16.73% rise in net sales to Rs 401.13 crore in Q2 September 2016 over Q2 September 2015.

Skipper manufactures galvanized, polyvinyl chloride, solid, waste, and rain pipes, fittings, transmission and telecom towers, poles, scaffoldings, and hot rolled products.

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ICICI Prudential Life Insurance Company slips on profit booking
Jan 09,2017

Meanwhile, the S&P BSE Sensex was down 48.06 points or 0.18% at 26,711.17

On the BSE, 1.60 lakh shares were traded on the counter so far as against the average daily volumes of 2.01 lakh shares in the past one quarter. The stock had hit a high of Rs 333 and a low of Rs 326 so far during the day.

The stock had hit a record high of Rs 338 yesterday, 6 January 2017. The stock hit a record low of Rs 273.65 on 9 November 2016.

The large-cap company has equity capital of Rs 1435.32 crore. Face value per share is Rs 10.

Shares of ICICI Prudential Life Insurance Company had debuted at Rs 329 on BSE, a discount of 1.50% to the initial public offer price of Rs 334 per share on 29 September 2016.

ICICI Prudential Life Insurance Companys net profit rose 23.93% to Rs 315.79 crore on 5.07% growth in total income to Rs 9144.09 crore in Q2 September 2016 over Q2 September 2015.

ICICI Prudential Life Insurance Company is the largest private sector life insurer in India by total premium and assets under management at 31 March 2016. ICICI Prudential is a joint venture between ICICI Bank and Prudential Corporation Holdings, a part of the Prudential Group, an international financial services group. The company is one of the first private sector life insurance companies in India. It commenced operations in October 2000 and offers a range of life insurance, health insurance and pension products and services.

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Kitex Garments firms up after board approves additional investment in Kitex USA LLC
Jan 09,2017

The announcement was made during trading hours today, 9 January 2017.

Meanwhile, the BSE Sensex was up 3.81 points, or 0.01%, to 26,763.04.

On the BSE, so far 26,000 shares were traded in the counter, compared with average daily volumes of 14,686 shares in the past one quarter. The stock had hit a high of Rs 439.90 and a low of Rs 414 so far during the day.

The stock hit a 52-week high of Rs 687 on 8 January 2016. The stock hit a 52-week low of Rs 340 on 29 February 2016.

The small-cap company has equity capital of Rs 4.75 crore. Face value per share is Re 1.

Kitex Garments said its board approved further investment upto $1 million in the capital of Kitex USA LLC during the fourth quarter of 2016-2017. The board also approved availing an additional term loan of Rs 17 crore under A-TUFS with a tenure of 5 years.

Kitex Garments net profit fell 52.41% to Rs 12.92 crore on 20.5% decline in net sales to Rs 95.55 crore in Q2 September 2016 over Q2 September 2015.

Kitex Garments is a producer of childrens apparel.

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Tata Motors gains as JLR sales rise in December
Jan 09,2017

The announcement was made during market hours today, 9 January 2017.

Meanwhile, the S&P BSE Sensex was up 13.12 points or 0.05% at 26,772.35

On the BSE, 3.04 lakh shares were traded on the counter so far as against the average daily volumes of 5.40 lakh shares in the past one quarter. The stock had hit a high of Rs 504.45 and a low of Rs 492.55 so far during the day.

The stock had hit a 52-week high of Rs 598.60 on 7 September 2016 and a 52-week low of Rs 266 on 11 February 2016.

The large-cap company has equity capital of Rs 577.44 crore. Face value per share is Rs 2.

Tata Motors said that the sales growth was primarily driven by the ongoing success of the Jaguar F-PACE, Land Rover Discovery Sport and the Range Rover Sport as well as strong demand for the long wheel base Jaguar XFL in China. Jaguars retail sales jumped 95% to 16,349 units in December 2016 over December 2015. Land Rover retail sales fell 5% to 39,026 units in December 2016 over December 2015.

On 4 January 2017, Jaguar Land Rover (JLR) announced its US retail sales for the month of December 2016. JLRs US sales rose 30% to 12,573 units in December 2016 over December 2015. Jaguar sales jumped 259% to 4,294 units in December 2016 over December 2015. Land Rover sales declined 2% to 8,279 units in December 2016 over December 2015.

Tata Motors reported consolidated net profit of Rs 848.16 crore in Q2 September 2016, compared with net loss of Rs 1740.20 crore in Q2 September 2015. Net sales rose 6.7% to Rs 65140.75 crore in Q2 September 2016 over Q2 September 2015.

Tata Motors is a market leader in commercial vehicles in India. The companys British luxury unit Jaguar Land Rover (JLR) sells premium luxury cars.

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Tata Steel moves higher after announcing strong Q3 sales
Jan 09,2017

The announcement was made during market hours today, 9 January 2017.

Meanwhile, the S&P BSE Sensex was up 9.54 points, or 0.04%, to 26,768.77

On the BSE, 14.07 lakh shares were traded on the counter so far as against the average daily volumes of 7.69 lakh shares in the past one quarter. The stock had hit a high of Rs 423.90 and a low of Rs 419.40 so far during the day. The stock hit a 52-week high of Rs 440.90 on 11 November 2016. The stock hit a 52-week low of Rs 211.30 on 12 February 2016.

The large-cap company has equity capital of Rs 971.22 crore. Face value per share is Rs 10.

Tata Steel said that the growth in sales was enabled by higher sales in the automotive segment, branded products and value-added products & scaling up of sales in new segments.

Separetely, the company announced that it has inaugurated the second phase of cold rolling mill (CRM) complex BARA at Jamshedpur on 5 January 2017. During phase I, the reversing mill of 0.25 million tonnes per annum (MTPA) capacity was installed at CRM BARA to meet the full hard cold rolled (FHCR) requirement of Tata Blue Scope (TBSL). The phase II expansion of CRM BARA includes installation of 0.3 MTPA hot rolled skin passing mill (HSPM) to meet the increased demand of hot-rolled, pickled, skin passed and oiled products (HRSPO) in the automotive sector for high-end customers. The announcement was made on Saturday, 7 January 2017.

On a consolidated basis, Tata Steel reported net loss of Rs 49.38 crore in Q2 September 2016, compared with net profit of Rs 5609.43 crore in Q2 September 2015. Net sales rose 0.1% to Rs 26291.86 crore in Q2 September 2016 over Q2 September 2015.

Tata Steel Group stands among the top global steel companies with an annual crude steel capacity of 28 million tonnes per annum (MnTPA) and a turnover of $17.69 billion in the year ended 31 March 2016. It is the worlds second-most geographically-diversified steel producer, with operations in 26 countries and commercial presence in over 50 countries.

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Volumes jump at Pokarna counter
Jan 09,2017

Pokarna clocked volume of 65,000 shares by 13:52 IST on BSE, a 121.99-times surge over two-week average daily volume of 1,000 shares. The stock rose 17.40% to Rs 1,080 after the company said its subsidiary entered into partnership agreement with IKEA India. The announcement was made after market hours on Friday, 06 January 2017.

Graphite India notched up volume of 7.38 lakh shares, a 49.70-fold surge over two-week average daily volume of 15,000 shares. The stock rose 16.26% to Rs 91.50.

Balmer Lawrie Investments saw volume of 3.01 lakh shares, a 40.96-fold surge over two-week average daily volume of 7,000 shares. The stock rose 7.45% to Rs 400.05.

Indian Hotels Company clocked volume of 10.37 lakh shares, a 20.03-fold surge over two-week average daily volume of 52,000 shares. The stock rose 1.77% to Rs 97.60.

BEML saw volume of 6.87 lakh shares, a 19.72-fold rise over two-week average daily volume of 35,000 shares. The stock rose 13.86% to Rs 1,131 after the government approved a 26% stake sale in the state-run company to the strategic buyers. The announcement was made after market hours on Friday, 6 January 2017.

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Granules India tumbles after getting 11 observations from Portuguese drug regulator
Jan 09,2017

The announcement was made after market hours on Friday, 6 January 2017.

Meanwhile, the S&P BSE Sensex was up 3 points or 0.01% at 26,762.23

On the BSE, 10.81 lakh shares were traded on the counter so far as against the average daily volumes of 1.51 lakh shares in the past one quarter. The stock had hit a high of Rs 107.10 and a low of Rs 97.80 so far during the day. The stock had hit a 52-week high of Rs 151.15 on 14 August 2016. The stock had hit a 52-week low of Rs 91.45 on 9 November 2016.

The small-cap company has equity capital of Rs 22.12 crore. Face value per share is Re 1.

Granules India announced that Infarmed, Portugal, had conducted a renewal inspection on the companys facility located at Gagillapur, Telangana. In this respect, the company has received the inspection report from Infarmed with eleven observations. The Gagillapur facility manufactures Pharmaceuticals Formulation Intermediates (PFIs) and Finished Dosages (FDs).

The company has initiated necessary steps to address the observations of the inspection agency and will submit its response with a corrective and preventive action plan within the stipulated time, Granules India said. The company will also be requesting the Infarmed for re-inspection of the Gagillapur facility at the earliest. The company is committed to comply with all the required regulatory requirements and follow the best practices of the industry. The company acknowledges the observations as areas of continuous improvements, it added.

Granules Indias consolidated net profit rose 26.5% to Rs 40.82 crore on 3.08% growth in net sales to Rs 363.57 crore in Q2 September 2016 over Q2 September 2015.

Granules India produces finished dosages, pharmaceutical formulation intermediates and active pharmaceutical ingredients for customers in the regulated and semi-regulated markets.

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BEML leads gainers in A group
Jan 09,2017

BEML jumped 13.75% to Rs 1,129.95 at 13:26 IST. The stock topped the gainers in the BSEs A group. On the BSE, 6.75 lakh shares were traded on the counter so far as against the average daily volumes of 35,000 shares in the past two weeks.

MMTC surged 13.25% to Rs 70.50. The stock was the second biggest gainer in A group. On the BSE, 35.95 lakh shares were traded on the counter so far as against the average daily volumes of 15.40 lakh shares in the past two weeks.

Prestige Estates Projects gained 6.03% at Rs 182.85. The stock was the third biggest gainer in A group. On the BSE, 9,052 shares were traded on the counter so far as against the average daily volumes of 4,364 shares in the past two weeks.

Biocon surged 4.82% at Rs 1,004.15. The stock was the fourth biggest gainer in A group. On the BSE, 1.61 lakh shares were traded on the counter so far as against the average daily volumes of 41,000 shares in the past two weeks.

Hindustan Copper rose 4.76% to Rs 64.95. The stock was the fifth biggest gainer in A group. On the BSE, 7.39 lakh shares were traded on the counter so far as against the average daily volumes of 4.20 lakh shares in the past two weeks.

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Pokarna jumps after partnering IKEA India
Jan 09,2017

The announcement was made after market hours on Friday, 06 January 2017.

Meanwhile, the S&P BSE Sensex was down 11.98 points or 0.04% at 26,771.21.

On the BSE, 56,000 shares were traded on the counter so far as against the average daily volumes of 2,734 shares in the past one quarter. The stock had hit a high of Rs 1103.85 and a low of Rs 970 so far during the day.

The stock had hit a 52-week high of Rs 1,064 on 20 May 2016 and a 52-week low of Rs 660 on 17 February 2016.

The small-cap company has equity capital of Rs 6.20 crore. Face value per share is Rs 10.

Pokarnas announced that its wholly-owned subsidiary, Pokarna Engineered Stone (PESL), partnered IKEA India, to serve as its exclusive quartz surfaces supply and installation partner. Under the agreement, Pokarna will supply engineered quartz surfaces countertop and will also undertake measuring, planning, installation and home delivery of its products to IKEAs customer.

IKEA is the worlds largest home furnishing company with about 389 stores in 46 countries and a sales volume of 34.20 billion Euros.

Pokarnas consolidated net profit rose 44.60% to Rs 18.87 crore on 2.14% fall in net sales to Rs 96.49 crore in Q2 September 2016 over Q2 September 2015.

Pokarna, headquartered in Secunderabad, processes granite at its two manufacturing facilities with raw material majorly sourced from its own quarries. The companys Quartz operations are handled by its wholly-owned subsidiary Pokarna Engineered Stone.

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Vijaya Bank rises after announcing reduction in MCLRs
Jan 09,2017

The announcement was made on Saturday, 7 January 2017.

Meanwhile, the BSE Sensex was down 22.55 points, or 0.08%, to 26,736.68

On the BSE, 17,000 shares were traded on the counter so far as against the average daily volumes of 1.44 lakh shares in the past one quarter. The stock had hit a high of Rs 49.70 and a low of Rs 49.05 so far during the day. The stock hit a 52-week high of Rs 54.45 on 11 November 2016. The stock hit a 52-week low of Rs 28.70 on 18 January 2016.

The mid-cap state-run bank has an equity capital of Rs 998.85 crore. Face value per share is Rs 10.

Vijaya Bank said that it has reduced marginal cost of funds based lending rate (MCLR) for overnight loans to 9.2% from 8.45%. The rate for one month is reduced to 9.2% from 8.5% and for three months it is reduced to 9.25% from 8.55%.

The MCLR on 6-month loans will be 9.25% from earlier 8.6% and for one-year loans the rate will be 9.45% from 8.65%, the bank said. MCLR on two-year loans was reduced to 9.5% from 8.65% and for three-year loans the rate will be 9.55% from 8.75% earlier.

Net profit of Vijaya Bank rose 34.05% to Rs 154.55 crore on 9.79% rise in total income to Rs 3516.57 crore in Q2 September 2016 over Q2 September 2015.

As per the shareholding pattern, the Government of India held 70.33% stake in the bank as at 30 September 2016.

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