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SBI in focus after raising $500 million from overseas bond sale
Jan 18,2017

State Bank of India (SBI) said it concluded the issue of $500 million fixed rate senior unsecured notes having a maturity of 5 years at a coupon of 3.25% payable semi-annually under Regulation-S. The bonds will be issued through the banks London branch as of 24 January 2017 and shall be listed on Singapore Stock Exchange. The announcement was made after market hours yesterday, 17 January 2017.

Vijaya Bank said it raised Basel III compliant additional Tier- I Bonds (Series IV) of Rs 325 crore through private placement on 17 January 2017 at coupon rate of 10.49% per annum. The announcement was made after market hours yesterday, 17 January 2017.

Yes Bank announced that it has launched YES FINTECH - a unique business accelerator program in collaboration with T-Hub - Indias fastest growing start-up engine catalysing innovation, scale and deal flow and Anthill, LetsTalkPayments, a global platform for financial technology (Fintech) insights is the knowledge partner.

Yes Bank said it has been collaborating with and supporting more than 100 Fintech start-ups in the country to provide innovative financial solutions to its corporate, small and medium enterprises (SME) and retail customer base as part of its Alliances, Relationships & Technology (A.R.T) approach to digitized banking.

YES FINTECH accelerator will further augment this approach and help the bank co-create disruptive innovations in the financial inclusion, micro, small and medium enterprises (MSME) focused solutions, payments, lending, compliance, risk management, trade finance, capital markets and forex & treasury space. The announcement was made after market hours yesterday, 17 January 2017.

Bharat Wire Ropes said it booked orders of Rs 8 crore approximately out of which a prestigious and special order from defense has been awarded for Rs 6.5 crore approximately. The company has bid for various projects and the outstanding bids/offers are for approximately Rs 60 crore, which are at various stages of evaluation. The announcement was made after market hours yesterday, 17 January 2017.

Rama Steel Tubes announced that a meeting of its board of directors will be held on 25 January 2017, to consider and approve the proposal of fund raising on a private placement basis, subject to shareholders approval. The announcement was made after market hours yesterday, 17 January 2017.

Tata Chemicals said that Brickwork Ratings has revised its rating on the companys non-convertible debentures (NCD) issue of Rs 250 crore. Brickwork Ratings has removed the n++Ratings under watch with developing implicationsn++ for the Rating of BWR AA+ assigned to the NCD issue. The rating now stands at BWR AA+ (Pronounced Double A Plus) (Outlook: Stable). The announcement was made after market hours yesterday, 17 January 2017.

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Asia Pacific Market: Stocks down ahead of Trump, Brexit uncertainty
Jan 17,2017

Asia Pacific share market closed mostly down on Tuesday, 17 January 2017, as investors caution ahead of a speech by UK Prime Minister Theresa May, who is expected to outline her governments Brexit strategy nd Fridays inauguration of Donald Trump as U.S. president.

Sell orders overwhelmed regional stocks ahead of a speech by British Prime Minister Theresa May later in the day on her governments plan for negotiations over its exit from the European Union, which some traders fear will see Britain lose access to the blocs single market.

May is expected to deliver a speech on her negotiation plan with the European Union (EU) once Britain triggers Article 50 of the Lisbon Treaty, which establishes a two-year negotiation period on the departure of an EU country. Her speech will reveal what London is looking for in its future relationship with the EU, although it is not expected to reveal too many details in order not to prejudice the negotiations. Still, wary investors are waiting for clues about the process and its impact on the global economy.

Overall, market activity was light due to the lack of cues from US markets, which were closed on Monday for the Martin Luther King Day holiday, and investors globally were cautious over what the new US presidency might bring once Donald Trump is inaugurated on Friday.

Among Asian bourses

Australia Market falls on caution ahead of global political events

Australian share market closed down, as investors showed caution ahead of political uncertainty in Europe and the US. All ASX sectors declined, exception being bullion sector, with financial, realty, and consumer-exposed stocks being major losers. At the closing bell, the benchmark S&P/ASX 200 index declined 49 points, or 0.85%, to 5699.40, while the broader All Ordinaries index dropped 48.30 points, or 0.83%, to close at 5754.70.

Shares of financial sector were hard hit, with the four big banks leading losses. Among major banks, Australia & New Zealand Banking Group declined 1.3% to A$30.40, Westpac 0.9% to A$32.77, National Australia Bank 1.1% to A$30.80, and Commonwealth Bank of Australia 0.9% to A$83.35.

Materials and resources shares closed lower as profit booking after iron ore pulled back from a 3-year high. Rio Tinto shed 0.8% to A$62.70 and Fortescue Metals 3.3% to A$6.13. BHP Billiton erased 0.2% to A$26.71.

Bucking the trend, higher gold prices drove the ASX gold index up, with Newcrest Mining and Northern Star Resources adding 1.6% and 2%, respectively.

Nikki falls on yen strength, British uncertainty

The Japan share market closed down for second straight session after see-sawing between gains and losses throughout the session, hurt by yen ascent against major currencies amid caution ahead of British Prime Minister Theresa Mays speech on Brexit plans due later in the global day, as well as President-elect Donald Trumps inauguration stateside at the end of the week. Every industry category on the main section lost ground, led by fishery, agriculture and forestry, real estate and construction issues. The 225-issue Nikkei Stock Average ended down 281.71 points, or 1.48%, at 18,813.53, its lowest closing level since Dec. 8. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 21.54 points, or 1.41%, lower at 1,509.10.

Stocks of Japanese exporters were hardest hit, pressure by a surge in the yen. The greenback sank to 113.40 yen from 114.04 yen on Monday. Takata extended its losses, diving 4.63% to 905 yen, after a 10% fall Monday, as the firm on Friday agreed to plead guilty to fraud and pay $1 billion to settle a deadly airbag scandal that sparked the auto industrys biggest-ever safety recall. Nintendo rose 1.65% to 23,585 yen, while Toyota fell 1.58% to 6,719 yen and Hitachi fell 1.21% to 644.4 yen. Uniqlo operator Fast Retailing, a market heavyweight, slipped 1.89% to close at 36,700 yen.

China Stocks gain on bargain hunting, PBOC liquidity injection

Mainland China stock market ended higher, powered by bottom hunting in heavily battered stocks following five-day losing streaks and the central bank liquidity injection into the banking system. The blue-chip CSI300 index, which tracks large companies in Shanghai or Shenzhen, was up 0.21% to close at 3,326.36. The Shanghai Composite Index added 0.17% to close at 3,108.77. The Shenzhen Composite Index, which tracks stocks on Chinas second exchange, added 1.17% to 1873.02. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, jumped 2.02% to 1,867.87 points.

The Peoples Bank of China stepped up its injections as the Chinese New Year holiday approaches, when cash demand usually rises substantially. The week-long Chinese New Year holiday starts 27 January 2017 till 2 February 2017. The central bank injected CNY100 billion via seven-day reverse repos and CNY230 billion via 28-day reverse repos at its open-market operations on Tuesday. The moves resulted in a net injection of CNY270 billion at the OMO for the day, after a net addition of CNY165 billion on Monday.

The PBOCs liquidity injections indicate that the government wants to stabilize equities ahead of Lunar New Year, helping calm markets today.

Leshi Internet Information & Technology Corp surged by the 10% daily limit. Company Chairman Jia Yuetings LeEco technology empire has secured strategic investments, according to a statement released Friday.

Beijing Sinnet Technology Co. surged by its daily limit in Shenzhen after the company said in a preliminary earnings statement that its 2016 profit jumped by as much as 208% from the previous year

Hong Kong Stocks rise amid caution before Mays speech

The Hong Kong stock market ended higher in light trading, on tracking gains in Mainland China bourses. However, market upside momentum capped on caution over the likelihood of Britain pulling out of the European Unions single market and Fridays inauguration of Donald Trump as U.S. president. The move came ahead of Ms Mays speech tonight, in which she is likely to say that Britain is seeking a clean break from the EU, in remarks that are expected to provide the most significant indication yet about her governments plans. Nearly all sectors gained ground, led by industrial stocks. The Hang Seng Index added 0.54% or 122.82 points to close at 22,840.82. The Hang Seng China Enterprises index, or the H-share index, rose 0.37% or 36.10 points to 9,702.19. Turnover decreased to HK$50.7 billion from HK$56.9 billion on Monday.

HSBC (00005) and Standard Chartered (02888) rose 1.6% and 7% to HK$64.2 and HK$71.35 after Goldman Sachs raised its target prices for the banks to HK$74 and HK$66 (from HK$70 and HK$61) respectively. The research house saw lower-than-expected volatility for both banks since the Brexit outcome.

CK Property (01113) yesterday spent HK$210 million to buy back its own shares. It gained 2.2% to HK$50.7. CKH Holdings (00001) inched down 0.2% to HK$90.4. CKI Holdings (01038) fell 1% to HK$60.95. Power Assets (00006) added 0.4% to HK$72.8.

Mengniu Dairy (02319) dipped 2% to HK$14.36 after Credit Suisse downgraded its rating and target price. It was the worst blue-chip loser.

Sensex, Nifty settle with small losses

Indian benchmark indices settled with small losses after a range-bound and lackluster session of trade as lower European stocks dampened sentiment. The barometer index, the S&P BSE Sensex, declined 52.51 points or 0.19% to settle at 27,235.66. The Nifty 50 index shed 14.80 points or 0.18% to settle at 8,398. Profit booking emerged after last weeks solid surge in indices as investors maintained caution ahead of British Prime Minister Theresa Mays speech on Brexit later today, 17 January 2017.

Bank stocks were mixed. Metal & mining stocks declined. Index heavyweight Reliance Industries (RIL) dropped after the company reported small growth in profitability and drop in gross refining margin in Q3.

IT major TCS advanced after the company announced a partnership with Aurus, Inc., a global leader in innovative payments technology, to deliver payment solutions for retailers using TCS OmniStore, a first of its kind unified store commerce platform. Another software pivotal HCL Technologies edged higher after the company issued a clarification to the stock exchanges on a law suit filed against its wholly owned subsidiary HCL America Inc.

Cigarette major ITC rose on reports a foreign brokerage reiterated buy call on the stock with a target price of Rs 290 after cigarette price hike.

Elsewhere in the Asia Pacific region: New Zealands NZX50 was up 0.45% to 7069.59. South Koreas KOSPI index added 0.4% to 2071.87. Taiwans Taiex index added 0.7% to 9354.53. Malaysias KLCI jumped 0.3% to 1663. Indonesias Jakarta Composite index fell 0.1% to 5266.94. Singapores Straits Times index shed 0.35 point to 3012.77.

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Tiger Logistics (India) gets certified in India Customs AEO program
Jan 17,2017

Tiger Logistics (India) has been certified by Indian Customs in Authorised Economic Operator Program under CBEC on 22 July 2016. This certificate is valid till December 2021.

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Jain Irrigation Systems intimates of corporate ratings to subsidiarys Green Bonds issue
Jan 17,2017

Jain Irrigation Systems announced that S&P Global Ratings and Fitch Ratings have allotted B+, Stable Outlook and B+ Positive Outlook respectively, corporate ratings to Jain International Trading B.V (JITBV), the Companys wholly owned direct subsidiary, for issue up to USD 200 million of unsecured senior notes (which will also be certified Green bonds) with a USD 50 million over-allotment option. This is an international rating.

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Sadbhav Infrastructure Project to transfer 9% stake in subsidiary - Maharashtra Border Check Post Network
Jan 17,2017

Sadbhav Infrastructure Project announced that Company along with Sadbhav Engineering (SEL) (a holding Company) has entered into a share purchase cum shareholders cum subordinate debt agreement with, D. Thakkar Construction and DTC Toll Projects (DTC) where it has been agreed to transfer 9% of Shareholding of Maharashtra Border Check Post Network (MBCPNL) (a subsidiary Company) to DTC as against 21.805 % agreed earlier.

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Tata Chemicals gets revision in credit ratings
Jan 17,2017

Tata Chemicals announced that the Company have been informed by Brickwork Ratings that they have removed the n++Ratings under watch with developing implicationsn++ for the Rating of BWR AA+ assigned to the NCD issue of Rs. 250 crore of the Company. The rating now stands at BWR AA+ (Pronounced Double A Plus) (Outlook: Stable) for the Companys unsecured NCD issue of Rs. 250 crore.

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Federal Bank allots 3,11,545 equity shares
Jan 17,2017

Federal Bank announced that as authorized by the Nomination, Remuneration, Ethics and Compensation Committee, allotment of 3,11,545 (Three lakh eleven thousand five hundred and forty five only) Equity Shares with face value of Rs. 2/- each of the Bank to the Option Grantees has been made upon exercise of stock options under ESOS 2010 Scheme for which allottees have paid money.

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Menon Pistons announces resignation of company secretary
Jan 17,2017

Menon Pistons announced that due personal reasons Rasika Joshi has resigned as Company Secretary and compliance officer of the Company with effect from 31 December 2016 and the same will be placed at the forthcoming Board Meeting to be held on 25 January 2017.

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Aunde India announces resignation of company secretary and compliance officer
Jan 17,2017

Aunde India announced Jovita Reema Mathias, Company Secretary and Compliance Officer of the Company has resigned from her post for better prospects with effect from 12 January 2017.

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Tata Motors announces appointment of director and chairman
Jan 17,2017

Tata Motors announced that the Board of Directors have on 17 January 2017 appointed Natarajan Chandrasekaran as Additional Director and Chairman of the Board with immediate effect.

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State Bank of India concludes issue of USD 500 million Senior Unsecured Notes
Jan 17,2017

State Bank of India has concluded the issue of USD 500 million Fixed Rate Senior Unsecured Notes having a maturity of 5 years at a coupon of 3.25 per cent payable semi-annually under Regulation-S. The Bonds will be issued through the Companys London Branch as of 24 January 2017 and shall be listed on Singapore Stock Exchange.

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Tata Motors-DVR announces appointment of director cum chairman
Jan 17,2017

Tata Motors-DVR announced that the Board of Directors have on 17 January 2017 appointed Natarajan Chandrasekaran as Additional Director and Chairman of the Board with immediate effect.

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Bharat Wire Ropes secures two order worth Rs 8 crore
Jan 17,2017

Bharat Wire Ropes has booked orders of Rs. 8 crore approximately out of which a prestigious and special order from defense has been awarded for Rs. 6.5 crore approximately.

The Company has bid for various projects and the outstanding bids/offers are for approximately Rs. 60 crore, which are at various stages of evaluation.

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Vijaya Bank raises Rs 325 crore in AT-I Capital
Jan 17,2017

Vijaya Bank has successfully raised Basel III compliant Additional Tier- I Bonds (Series IV) of Rs. 325 crore through private placement on 17 January 2017 at coupon rate of 10.49% p.a.

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Board of Saksoft to consider Q3 and 9M results
Jan 17,2017

Saksoft announced that the Board Meeting of the Company will be held on 30 January 2017, inter alia, to transact the following business:

- To approve the unaudited standalone and Consolidated Financial Results of the Company and its Subsidiaries for the third quarter and nine months ended 31 December 2016

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