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India can Marry Age Dividend and Skill Development for Global Leadership in Services Exports: Commerce Secretary
Apr 24,2017

Indias demographics coupled with its strong push for skill development can impart it global leadership in services exports, said Smt Rita Teaotia, Commerce Secretary, at the close of the Global Exhibition on Services (GES). The GES was organised by the Department of Commerce in association with the Confederation of Indian Industry (CII) and the Services Export Promotion Council.

Ms Teaotia said that India has submitted the framework document for trade facilitation of services trade with WTO. This would enable countries to plan and grow their services sectors, opening new avenues for trade beyond merchandise exports.

The Commerce Secretary emphasized that India offers both breadth and depth in its services exports, with high quality services at competitive costs. The GES has emerged as a powerful platform as one of the few exhibitions showcasing services sectors in the world.

Mr. Anup Wadhawan, Additional Secretary, Ministry of Commerce, noted that GES is growing from strength to strength with increasing domestic and international stakeholders.

Mr Sudhanshu Pandey, Joint Secretary, Ministry of Commerce, observed that 24 Indian states participated in GES bringing international and domestic buyers of services to interact with State Governments and enter into MoUs.

He shared that Media & Entertainment and Tourism were key sectors with 35 MOUs signed.

Ms. Shobana Kamineni, President Designate, CII, said that 62% of Indian GDP is contributed by the services sector. A recent trend is that traditional manufacturing is becoming a hybrid, adding services into its core activity. While Indian software services are leading the outsourcing markets internationally, other sectors including Media and entertainment, healthcare, tourism sectors are also key sectors of interest.

Mr. Chandrajit Banerjee, Director General, CII noted that GES has now become an internationally recognised platform, with more than 5,000 B2B meetings.

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Make in India gets metro boost; local procurement made mandatory
Apr 24,2017

With rapid expansion of metro rail projects in the country, Ministry of Urban Development has taken several far reaching decisions to promote Make in India campaign. These include stipulating certain mandatory conditions to be incorporated in Tender Documents of metro companies for procurement of metro cars and related critical equipment and sub-systems, procurement of only Made in India signaling equipment besides standardizing technical parameters for rolling stock (metro coaches) and signaling equipment.

The new mandatory Tender Conditions and standardized norms for a wide range of equipment, approved by the Minister of Urban Development Shri M.Venkaiah Naidu have been circulated to all the metro companies on Friday this week making them effective immediately.

These initiatives will incentivize setting up manufacturing facilities in the country by increasing the volumes of procurement of rolling stock and all kinds of equipment by removing variations in the present technical norms for rolling stock and signaling equipment. This will in turn result in reduction of cost through economies of scale.

The Ministry has stipulated the following mandatory conditions to be incorporated in Tender Documents:

1.Minimum 75% of the tendered quantity of metro cars shall be manufactured indigenously with progressive indigenization of content, for which the contractor may either establish independent manufacturing facility in India or partner with Indian manufacturers, if the procurement is more than 100 cars;

2.To facilitate ease in maintenance through easy availability of spares beyond the warranty period, an identified list of critical equipment and sub-systems shall be included in the Tender Document for ensuring indigenous manufacturing of a minimum of 25% of such equipment, either by Original Equipment Manufacturers themselves by establishing a wholly owned subsidiary in India or through Indian manufacturers;

3. Requirement of metro cars at State level shall be clubbed to enable applicability of local procurement norms; and

4.To develop in-house expertise on long term basis, metro companies with large size fleet to undertake in-house maintenance.

A total number of 1,912 metro coaches are currently operational in the country with another 1,420 under procurement. Over the next three years more than 1,600 metro cars would be required. Each metro coach is estimated to cost about Rs.10 cr.

The Ministry has concluded the long pending standaridisation of norms for rolling stock and signaling equipment applicable to over 90% of the present imports. Further, to promote indigenous manufacturing, the Ministry has stipulated procurement of 9 types of signaling equipment from within the country. Metro companies have also been directed to develop maximum possible local competence so that knowhow and technical support is available within the country. Indian companies have to be associated with production of a wide range of signaling and train control project equipment.

Indigenization of several metro functions has also been prescribed. These relate to communication systems, managing operational disturbances, time table preparation, fault reporting, control traction power, maintenance, infrastructure supervision, rolling stock management etc.

The new standardized norms prescribe that the rolling stock and related equipment and systems shall enable Unattended Train Operations, Driverless Train Operations, Standard rail gauge of 1,435 mm, Metro cars with body width of 2.90 meters for passenger capacity of up to 45,000 Peak Hour Peak Distance capacity, body width of 3.20 meters for capacity above 45,000 PHPD, only 3 car, 6 car or 9 car rail combination, operational speed of 80 kmph, minimum 67% motorization for all rolling stock etc. Norms have also been prescribed for Acceleration Rates, Energy Consumption, Noise and Vibration levels, Collision Standards etc.

Further to these initiatives, Ministry of Urban Development will soon evolve common eligible criteria for suppliers of rolling stock and other equipment doing away with the present variations across different metro companies.

Shri Rajiv Gauba, Secretary(UD) discussed with Managing Directors of metro companies on Friday the variations in the present eligibility criteria. Noting that such variations adversely impact competition, he directed that a broadly uniform criteria in respect of Net Worth, Financial and technical capacities and experience of supply of rolling stock and other equipment etc should be evolved in two weeks.

Presently, metros are operating in 7 cities of Delhi, Kolkata, Mumbai, Jaipur, Gurgaon, Bengaluru and Chennai with a total route length of 326 kms. Metro projects with a total route length of 546 kms are under construction in 11 cities and projects with a total route length of 903 kms in 13 cities are under consideration.

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ACC may drop after posting weak Q1 results
Apr 24,2017

ACCs consolidated net profit fell 8.9% to Rs 211.06 crore on 8.83% rise in total income to Rs 3663.18 crore in Q1 March 2017 over Q1 March 2016. The announcement was made on Friday, 21 April 2017.

Maruti Suzuki India unveiled the sketch of its all new DZIRE on 21 April 2017. The car will make its global debut in May 2017. The new DZIRE is designed to leave a lasting impression with its rich sculpted side body and enhanced proportions. It is modern, sleek and agile. The unmistakable sedan proportions with low and wide stance lends an elegant road presence to the new DZIRE, company added. The announcement was made on Friday, 21 April 2017.

Indiabulls Housing Finance, Reliance Industries (RIL) and Ultratech Cement will announce Q4 results today, 24 April 2017.

Indiabulls Housing Finance said that in terms of the board authorization dated 21 October 2016, the company has on 21 April 2017, allotted its twentieth tranche of secured, redeemable, non-convertible debentures of face value Rs 10 lakh each (NCDs) aggregating to Rs 25 crore.

On 10 November 2016 the company had intimated proposal to issue, secured, redeemable, non-convertible debentures of face value Rs 10 lakhs each aggregating Rs 6000 crore, on a private placement basis. The announcement was made after market hours on Friday, 21 April 2017.

Dr Reddys Laboratories announced the launch of Progesterone Capsules, 100 mg and 200 mg, a therapeutic equivalent generic version of Prometrium (Progesterone) Capsules in the US Market. The drug was approved by the USFDA. The announcement was made after market hours on Friday, 21 April 2017.

The Prometrium brand had US sales of approximately $153 million MAT for the most recent twelve months ending in February 2017, according to IMS Health.

Reliance Industries (RIL) commenced commercial production from its coal bed methane (CBM) block SP(West)-CBM-2001/1 from 24th March 2017 and is currently supplying CBM for commissioning the Shahdol Phulpur Pipeline (SHPPL). The production from RILs Sohagpur CBM fields will gradually ramp-up in the next 15-18 months making RIL among the largest unconventional natural gas producers in India.

CBM is an environmental friendly natural gas extracted from coal-bed and has become an important source of unconventional gas in many parts of the world. RIL was awarded the licence to explore two adjacent CBM blocks SP(West) and SP(East) with an area of 995 square kilometers in the round 1 of CBM block bidding by the Government of India in 2001.

RIL has drilled more than 200 wells connected to two gas gathering stations in the first phase of development. RIL expects to drill 600-800 wells further and develop associated infrastructure over the next phases of development.

Reliance Gas Pipelines (RGPL) a wholly owned subsidiary of RIL, laid a 302 kilometers Shahdol Phulpur gas pipeline that connects Sohagpur CBM fields from Shahdol to Hazira- Vijaipur-Jagdishpur (HBJ) pipeline Network of GAIL at Phulpur. With this new pipeline network these CBM gas fields are now connected with the Indian gas grid. The announcement was made after market hours on Friday, 21 April 2017.

Sun Pharmaceutical Industries will be in focus. With respect to news article titled FDA issues 11 observations for Dadra unit,Sun Pharmaceutical Industries clarified that companys Dadra facility underwent an inspection by USFDA recently. This inspection was completed on 13 April 2017. A Form-483 observation letter was issued by the USFDA post the inspection, listing 11 observations. The company is currently in the process of responding to the said letter to the USFDA within the stipulated timeline of 15 days. The announcement was made on Saturday, 22 April 2017.

It added that Sun Pharma and its subsidiaries have many facilities which supply products to the US market. These facilities undergo periodic routine inspection by the USFDA in normal course of business. As indicated above, the company is in the process of responding to the USFDA for the Form-483 observation letter issued for the Dadra facility. If there are any material developments related to this inspection, the company will promptly inform the stock exchanges.

Great Eastern Shipping Company announced that board meeting will be held on 5 May 2017 to consider issue of non-convertible debentures upto an amount not exceeding Rs 1000 crore by way of private placement during the year. The company will also announce Q4 results on that day. The announcement was made on Friday, 21 April 2017.

Divis Laboratories has updated that the USFDA has issued a warning letter for the companys unit-II at Visakhapatnam. The company responded to the USFDA inspection observations with an appropriate remediation process to overcome the deficiencies observed. As part of the companys commitments, it also provided periodic updates to the USFDA. In the import alert issued, USFDA has exempted several products manufactured at the companys unit-II at Visakhapatnam, Andhra Pradesh.

The company will continue to supply these active ingredients to meet its obligations to customers. Divis Labs, along with external consultants and subject matter experts, are working to address the concerns of the USFDA and is making all efforts to fully meet the compliance requirements. The company will respond to this warning letter with a detailed plan within the stipulated time. The announcement was made on Saturday, 22 April 2017.

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Vimta Labs standalone net profit rises 32.60% in the March 2017 quarter
Apr 22,2017

Net profit of Vimta Labs rose 32.60% to Rs 2.40 crore in the quarter ended March 2017 as against Rs 1.81 crore during the previous quarter ended March 2016. Sales rose 19.93% to Rs 39.47 crore in the quarter ended March 2017 as against Rs 32.91 crore during the previous quarter ended March 2016.

For the full year,net profit rose 56.14% to Rs 10.04 crore in the year ended March 2017 as against Rs 6.43 crore during the previous year ended March 2016. Sales rose 22.97% to Rs 153.36 crore in the year ended March 2017 as against Rs 124.71 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales39.4732.91 20 153.36124.71 23 OPM %16.5211.09 -17.2615.44 - PBDT5.943.18 87 25.3219.00 33 PBT3.550.84 323 15.698.74 80 NP2.401.81 33 10.046.43 56

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Gujarat Hotels standalone net profit rises 62.50% in the March 2017 quarter
Apr 22,2017

Net profit of Gujarat Hotels rose 62.50% to Rs 1.43 crore in the quarter ended March 2017 as against Rs 0.88 crore during the previous quarter ended March 2016. Sales declined 2.22% to Rs 0.88 crore in the quarter ended March 2017 as against Rs 0.90 crore during the previous quarter ended March 2016.

For the full year,net profit rose 18.77% to Rs 3.86 crore in the year ended March 2017 as against Rs 3.25 crore during the previous year ended March 2016. Sales declined 6.88% to Rs 3.25 crore in the year ended March 2017 as against Rs 3.49 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales0.880.90 -2 3.253.49 -7 OPM %90.9187.78 -89.2388.83 - PBDT1.181.26 -6 4.774.91 -3 PBT1.171.25 -6 4.724.86 -3 NP1.430.88 63 3.863.25 19

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Mahindra Lifespace Developers consolidated net profit declines 64.13% in the March 2017 quarter
Apr 22,2017

Net profit of Mahindra Lifespace Developers declined 64.13% to Rs 17.40 crore in the quarter ended March 2017 as against Rs 48.51 crore during the previous quarter ended March 2016. Sales rose 128.69% to Rs 327.02 crore in the quarter ended March 2017 as against Rs 143.00 crore during the previous quarter ended March 2016.

For the full year,net profit rose 11.48% to Rs 102.24 crore in the year ended March 2017 as against Rs 91.71 crore during the previous year ended March 2016. Sales rose 28.49% to Rs 762.15 crore in the year ended March 2017 as against Rs 593.17 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales327.02143.00 129 762.15593.17 28 OPM %1.798.88 -6.6014.06 - PBDT29.3761.68 -52 143.52141.71 1 PBT28.2060.56 -53 138.90137.53 1 NP17.4048.51 -64 102.2491.71 11

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International Travel House standalone net profit rises 162.22% in the March 2017 quarter
Apr 22,2017

Net profit of International Travel House rose 162.22% to Rs 3.54 crore in the quarter ended March 2017 as against Rs 1.35 crore during the previous quarter ended March 2016. Sales rose 6.80% to Rs 52.17 crore in the quarter ended March 2017 as against Rs 48.85 crore during the previous quarter ended March 2016.

For the full year,net profit rose 16.23% to Rs 11.17 crore in the year ended March 2017 as against Rs 9.61 crore during the previous year ended March 2016. Sales rose 2.87% to Rs 201.54 crore in the year ended March 2017 as against Rs 195.91 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales52.1748.85 7 201.54195.91 3 OPM %13.908.27 -12.9912.21 - PBDT8.455.61 51 30.3628.04 8 PBT5.552.46 126 18.3116.11 14 NP3.541.35 162 11.179.61 16

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Mahindra Lifespace Developers standalone net profit declines 64.94% in the March 2017 quarter
Apr 22,2017

Net profit of Mahindra Lifespace Developers declined 64.94% to Rs 5.09 crore in the quarter ended March 2017 as against Rs 14.52 crore during the previous quarter ended March 2016. Sales rose 175.08% to Rs 299.45 crore in the quarter ended March 2017 as against Rs 108.86 crore during the previous quarter ended March 2016.

For the full year,net profit declined 37.48% to Rs 48.94 crore in the year ended March 2017 as against Rs 78.28 crore during the previous year ended March 2016. Sales rose 35.54% to Rs 680.55 crore in the year ended March 2017 as against Rs 502.11 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales299.45108.86 175 680.55502.11 36 OPM %0.2011.91 -5.0313.55 - PBDT8.7622.26 -61 74.89120.53 -38 PBT7.6721.21 -64 70.55116.57 -39 NP5.0914.52 -65 48.9478.28 -37

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Aro Granite Industries standalone net profit declines 24.00% in the March 2017 quarter
Apr 22,2017

Net profit of Aro Granite Industries declined 24.00% to Rs 1.52 crore in the quarter ended March 2017 as against Rs 2.00 crore during the previous quarter ended March 2016. Sales rose 12.59% to Rs 56.32 crore in the quarter ended March 2017 as against Rs 50.02 crore during the previous quarter ended March 2016.

For the full year,net profit rose 115.36% to Rs 12.62 crore in the year ended March 2017 as against Rs 5.86 crore during the previous year ended March 2016. Sales rose 10.70% to Rs 238.65 crore in the year ended March 2017 as against Rs 215.59 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales56.3250.02 13 238.65215.59 11 OPM %9.5511.92 -12.309.25 - PBDT4.734.69 1 25.4815.90 60 PBT2.192.32 -6 16.386.78 142 NP1.522.00 -24 12.625.86 115

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Walchand Peoplefirst reports standalone net loss of Rs 0.40 crore in the March 2017 quarter
Apr 22,2017

Net loss of Walchand Peoplefirst reported to Rs 0.40 crore in the quarter ended March 2017 as against net profit of Rs 0.77 crore during the previous quarter ended March 2016. Sales declined 31.67% to Rs 4.66 crore in the quarter ended March 2017 as against Rs 6.82 crore during the previous quarter ended March 2016.

For the full year,net profit declined 66.94% to Rs 0.82 crore in the year ended March 2017 as against Rs 2.48 crore during the previous year ended March 2016. Sales rose 2.15% to Rs 23.24 crore in the year ended March 2017 as against Rs 22.75 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales4.666.82 -32 23.2422.75 2 OPM %-21.8913.34 --0.3412.00 - PBDT-0.531.30 PL 1.624.13 -61 PBT-0.661.19 PL 1.133.76 -70 NP-0.400.77 PL 0.822.48 -67

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Tinplate Company of India standalone net profit rises 74.64% in the March 2017 quarter
Apr 22,2017

Net profit of Tinplate Company of India rose 74.64% to Rs 11.02 crore in the quarter ended March 2017 as against Rs 6.31 crore during the previous quarter ended March 2016. Sales rose 58.92% to Rs 259.26 crore in the quarter ended March 2017 as against Rs 163.14 crore during the previous quarter ended March 2016.

For the full year,net profit declined 58.93% to Rs 27.86 crore in the year ended March 2017 as against Rs 67.84 crore during the previous year ended March 2016. Sales rose 0.26% to Rs 812.65 crore in the year ended March 2017 as against Rs 810.57 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales259.26163.14 59 812.65810.57 0 OPM %11.0515.25 -11.1720.66 - PBDT32.3927.94 16 106.46179.47 -41 PBT17.0410.04 70 40.67106.30 -62 NP11.026.31 75 27.8667.84 -59

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Date for filing of declaration under PMGKY extended up
Apr 22,2017

The Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana,2016 (PMGKY) had commenced on 17th December, 2016 and was open for declarations up to 31st March, 2017.

Representations from stakeholders have been received stating that in some cases tax, surcharge and penalty have been paid on or before 31st March, 2017 but the corresponding deposit under the Pradhan Mantri Garib Kalyan Deposit Scheme, 2016 (Deposit Scheme) could not be made by the said date. Accordingly, DEA vide notification S.O.1218(E) dated 19th April, 2017 has extended the date of making deposit under the Deposit Scheme upto 30th April, 2017 in respect of cases where tax, surcharge and penalty under PMGKY has been paid on or before 31st March, 2017.

Subsequently, CBDT vide Circular No.14 of 2017 dated 21st April, 2017 has extended the date of filing of declaration under PMGKY to 10th May, 2017 in cases where tax, surcharge and penalty under PMGKY has been paid on or before the 31st March, 2017, and deposit under the Deposit Scheme has been made on or before the 30th April, 2017.

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Darjeeling Ropeway Company shifts registered office
Apr 22,2017

Darjeeling Ropeway Company announced that the registered office of the company got shifted from 56E, Hemanta Basu Sarani, Old 4 B.B.D Bagh East, Room No-14A, Kolkata- 700001 to Office No: GF 17, Ground Floor, HDIL Harmony Mall, 1A/58, New Link Road, Goregaon West, Mumbai- 400104 w.e.f 19 April 2017.

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TAAL Enterprises director resigns
Apr 22,2017

TAAL Enterprises announced that Shobhana Joseph has resigned as Director of the Company with immediate effect due to personal reasons.

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Board of Advanced Enzyme Technologies approves investments in two entities
Apr 22,2017

Advanced Enzyme Technologies announced that the Board of Directors of the company at its meeting held on 22 April 2017 has approved the following -

Investment in Advanced Biodiesel by acquiring/ subscribing up to 15% of paid up share capital for an amount not exceeding Rs 3.75 crore. Investment by the Company in ABL will be made in a phased manner and will be completed in a period of 18 months.

Investment by way of subscription / purchase of share of Palm Techno Ventures Enzyme Sdn Bhd, Malaysia up to RM 200,000 (for up to 80% of the paid up capital of PTVE). The said investment is expected to be completed by end of June 2017. Upon such investment PTVE shall become subsidiary of the Company.

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