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Shares of Bhakti Gems and Jewellery get listed
May 30,2017

The equity shares of Bhakti Gems and Jewellery (Scrip Code: 540545) are listed effective 30 May 2017 and admitted to dealings on the Exchange in the list of M Group Securities

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Vipul Organics to pay dividend
May 30,2017

Vipul Organics announced that dividend, if approved shall be paid/ dispatched between 18 September 2017 to 20 September 2017.

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L&T hits 52-week high after robust Q4 outcome
May 30,2017

The result was announced after market hours yesterday, 29 May 2017.

Meanwhile, the S&P BSE Sensex was down 37.05 points, or 0.12%, to 31,072.23.

On BSE, so far 46,000 shares were traded in the counter, compared with average daily volume of 1.90 lakh shares in the past one quarter. The stock hit a low of Rs 1,815.30 so far during the day. The stock hit a high of Rs 1,834 in intraday trade so far, which is 52-week high for the counter. The stock hit a 52-week low of Rs 1,295.30 on 9 November 2016.

The large-cap engineering & construction major has equity capital of Rs 186.65 crore. Face value per share is Rs 2.

L&Ts order intake rose 9.6% to Rs 47289 crore in Q4 March 2017 over Q4 March 2016. International order inflow during the quarter at Rs 9044 crore constituted 19% of the order inflow for the quarter.

Consolidated order book of the group stood at level of Rs 261341 crore as at 31 March 2017, higher by 5% on a y-o-y basis. International order book constituted 27% of the total order book.

Meanwhile, the companys board recommended issue of 1:2 (one bonus share for for every two held) bonus shares.

In its outlook L&T said that the company continues to focus on profitable execution of the large order book, selective order picking, on-time deliveries and operational excellence through digitalization. The company is also emphasizing on cost competitiveness, continuous optimization of working capital, restructuring of its business portfolio and value creation with an aim to enhance its return on equity (ROE).

L&T is a major Indian multinational engaged in technology, engineering, construction, manufacturing and financial services. Its products and systems are marketed in over 30 countries worldwide.

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Larsen & Toubro wins new orders
May 30,2017

Larsen & Toubro announced that the construction arm of the Company has won orders worth Rs 5146 crore across various business segment.

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India and Fiji Sign MoU on Defence Cooperation
May 30,2017

The Minister of Defence and National Security of Fiji, Honourable Ratu Inoke Kubuabola accompanied by his delegation met the Minister of Defence, Finance and Corporate Affairs, Shri Arun Jaitley.

The Ministers discussed expanded defence partnership in maritime security between both the countries, and naval cooperation was identified as an area of promise.

An MoU on defence cooperation envisaging several areas of cooperation including in defence industry, military training and humanitarian assistance & disaster management was signed.

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L&T in focus after Q4 result, 1:2 bonus issue
May 30,2017

On a consolidated basis, Larsen & Toubro (L&T)s profit after tax rose 29.5% to Rs 3025 crore on 12% increase in gross revenue to Rs 36828 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 29 May 2017.

L&T said it successfully won fresh orders worth Rs 142995 crore at the group level during the year ended 31 March 2017 in the face of a challenging business environment. The International orders during the year at Rs 41507 crore constituted 29% of the total order inflow. Order wins in infrastructure segment, hydrocarbon and heavy engineering segments contributed to the order flow during the year.

The order intake for the quarter ended 31 March 2017 at Rs 47289 crore grew by 9.6% year-on-year (y-o-y). International order inflow during the quarter at Rs 9044 crore constituted 19% of the order inflow for the quarter.

Consolidated order book of the group stood at Rs 261341 crore as at 31 March 2017, higher by 5% on a y-o-y basis. International order book constituted 27% of the total order book.

Meanwhile, the companys board recommended issuing 1:2 bonus issue of equity shares.

Aurobindo Pharmas consolidated net profit fell 4.01% to Rs 532.22 crore on 2.64% decline in total income to Rs 3682.41 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 29 May 2017.

Power Grid Corporation of Indias (PGCIL) net profit rose 22.17% to Rs 1916.36 crore on 17.87% growth in total income to Rs 7054.45 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 29 May 2017.

BPCLs net profit fell 13% to Rs 1841.68 crore on 31% growth in net sales to Rs 57036.48 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 29 May 2017.

On a consolidated basis, Coal Indias net profit fell 38.25% to Rs 2716.09 crore on 8.35% increase in total income to Rs 26635.97 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 29 May 2017.

Bhels net profit dropped 57.38% to Rs 215.55 crore on 5.8% fall in total income to Rs 9833.40 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 29 May 2017.

Hindalco Industries and Mahindra & Mahindra will unveil their Q4 results today, 30 May 2017.

Jubilant FoodWorks net profit fell 75.9% to Rs 6.72 crore on 0.8% decrease in net sales to Rs 612.78 crore in Q4 March 2017 over Q4 March 2016. The announcement was made after market hours yesterday, 29 May 2017.

The companys same store growth (SSG) was reported at negative 7.5% in Q4 March 2017 compared with a growth of 2.9% in Q4 March 2016.

Q4 revenues were impacted by demonetization during January-February 2017, its impact was partly offset by the increase in online ordering sales and incremental revenue due to addition of new restaurants, the company said in a statement.

India Gelatine & Chemicals proposed buyback of its fully paid up equity shares of face value of Rs 10 each up to 23.07 lakh, which represents 24.55% of the total paid up equity share capital of the company, at Rs 117 per equity share payable in cash for an aggregate amount of up to Rs 27 crore from equity shareholders. The announcement was made after market hours yesterday, 29 May 2017.

On a consolidated basis, Aban Offshore reported net loss of Rs 337.11 crore in Q4 March 2017, higher than net loss of Rs 202.28 crore in Q4 March 2016. Net sales fell 37.89% to Rs 390.86 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 29 May 2017.

In a separate announcement, Aban Offshore said that its board approved raising additional long term resources upto $400 million through issue of foreign currency convertible bonds (FCCBs), global depository receipts (GDRs), American depository receipts (ADRs), etc.

The board also approved issuing equity related securities to qualified institutional buyers upto Rs 2500 crore.

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Ramco Systems allots 8,505 equity shares
May 29,2017

Ramco Systems has allotted 8,505 equity shares of Rs.10/- each under ESOS. Consequent to this the paid up equity share capital has increased from 30,412,622 equity shares of Rs. 10/- each to 30,421,127 equity shares of Rs. 10/- each.

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Paramount Communications provides financial update
May 29,2017

Paramount Communications has entered into a One-time settlement with the Standard Chartered Bank for settlement of their entire outstanding dues. The agreement was taken on record and approved by the Board of directors in their meeting held on 29 May 2017.

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Board of Patidar Buildcon accepts resignation of director
May 29,2017

Patidar Buildcon announced that the Board of Directors of the Company have accepted the resignation of Ishwarbhai Patel from post of directorship of the company with effect from 29 May 2017.

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Outcome of board meeting of Capital Trade Links
May 29,2017

The Board of Directors of Capital Trade Links at its meeting held on 29 May 2017 has appointed Vinay Kumar as Whole Time Director in place of Raj Kumar who has resigned from directorship with effect from 29 May 2017. The board also approved increase in authorised share capital from 5.10 crore to Rs 5.50 crore subject to approval of shareholders. The Board approved change in registered office to Capital House, B-4, LGF, Ashoka Niketan, New Delhi.

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Thangamayil Jewellery provides business update
May 29,2017

Thangamayil Jewellery is opening a new outlet exclusively for sale of silver articles at Thirupuvanam, Sivagangai District, Tamil Nadu on 01 June 2017.

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TV18 Broadcast gets revision in credit ratings
May 29,2017

TV18 Broadcast announced that ICRA has revising the credit ratings of the Companys rated instruments as given below:

(i) The fund based/non-fund based long term/ short term limits of Rs. 354 crore:
a. Upgraded the assigned long term rating to [ICRA]AAA (pronounced ICRA triple A) from [ICRA] AA+ (pronounced ICRA double A plus).
b. Reaffirmed the assigned short-term rating at [ICRA] A1+ (pronounced ICRA A one plus).

(ii) The Commercial Paper Programme aggregating to Rs. 400 crore: Reaffirmed rating at [ICRA] A1+ (pronounced ICRA A one plus).

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Special Drive to enroll left out electors giving focus on first time electors (young Indian Citizens in age group of 18-19 (extendable to 21 years)
May 29,2017

The Election Commission of India has decided to launch a Special Drive from 1st June this year for maximization of registration of eligible electors and removing the impurities in the rolls. In tune with the theme of No voters to be left behind the ECI has decided to utilise the period of continuous updation for maximisation of enrolment of young electors particularly 18-19 age group by launching a special drive in all States.

During the campaign, which will be completed by 31st July 2017, following activities will be undertaken by election official in all States.

n++ Submission of Forms shall be available to electors in following modes:-

n++ Submission of Form 6 at EROs Office

n++ Sending of Form 6 by Post

n++ Online Submission of Form 6 at National Voters Service Portal (NVSP)

n++ Submission of online Form 6 at Common Service Centers (CSCs)

Following additional services for the purpose shall also be provided during special drive:-

n++ Door to Door visit of BLOs: BLO shall visit door to door of the households to collect Form 6 from the applicants, particularly 18-19 age group (extendable to 21years of age) from 1st July 2017 and 31st July 2017 (except the Special Campaign Dates).

n++ Mobile App.: A user can also fill the Form using mobile app The Voter Services mobile application, available only on the Commissions website.

n++ National Call Centre (NCC): The ECI has also provided facility of National Call Centre for extending Citizen Services. At the State level, CEO will provide State Call Centre (SCC) and District Contact Centre (DCC) at district level by upgrading 1950 on the same line of National Contact Centre. A citizen making a call at NCC/SCC/DCC will be informed about procedure of Form submission through the above modes. If a differently abled person making call at any of these centres, expresses his inability to utilize any of the above services, then a visit by BLO concerned will be arranged at his/her address for getting the Form filled and receiving it back from that person for further processing. This service will be provided free of cost.

n++ Paid Services: CSCs will provide services of making online filling and hard copy Form digitization on payment basis.

i. Special Campaign Dates: Special Campaigns will be organized on two dates in the month of July 2017, which will be publicised through media by the Chief Electoral Officer. On these dates, Camps will be held in each polling station where Booth Level Officer will sit with adequate number of Forms 6, to receive Forms from the applicants. On the day of camp, entire final electoral roll, 2017 along with its supplements, if any, shall be pasted on the wall of the polling stations. The roll shall also be read out publically by the BLO on that date. The left out eligible citizens will fill Forms 6 and give the same to the BLO at the polling station itself, or submit through any other available means during the Special Drive. Special camps will also be conducted in all Government and Private Educational Institutions (colleges and Schools)/Vocational Training Institutes on at least any two different days between 1st July 2017 and 31st July 2017.

ii. Removal of names of dead electors: During the Special Drive, removal of names of dead electors will also be taken up. For identification of such dead electors, data on registered deaths shall be collected from the Registrar of Deaths and all registered death entries should be removed during the Special Drive.

iii. Disposal of Forms: Disposal of Forms 6 and Forms 7 (death cases), received during Special Drive will be done by 31st August 2017. However, Forms 7 (other than death cases), Form 8 and 8A received during the period will be done only after the Special Drive.

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AstraZeneca Pharma India to launch cancer drug - Osimertinib Tablet
May 29,2017

AstraZeneca Pharma India has received import and market permission in Form 45 (Marketing Authorization) from the Drug Controller General of India for Osimertinib Tablet 40 mg and 80 mg.

The receipt of this import and market permission paves way for the launch of Osimertinib Tablets (Tagrisso TM) in India, subject to the receipt of other related statutory approvals and licenses.

Osimertinib (Tagrisso TM) is the product of AstraZeneca group and has been approved in over 45 countries, including US, EU, Japan, China and other Asian countries.

Osimertinib (Tagrisso TM) is indicated for the treatment of patients with metastatic epidermal growth factor receptor (EGFR) T790M mutation-positive non-small cell lung cancer (NSCLC), as detected by an appropriate test, whose disease has progressed on or after EGFR TKI therapy.

Osimertinib (Tagrisso TM) is the first-in-class oral medication for advanced EFGR T790M mutation positive Non-Small Cell Lung Cancer.

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40 crore workers from unorganized sector to be covered under social security schemes: Shri Bandaru Dattatreya
May 29,2017

The Minister of State for Labour & Employment (IC), Shri Bandaru Dattatreya has announced that the 40 crore workers from unorganized sector will be covered under social security schemes such as ESIC & EPFO. The Minister said that the Government is committed to ensure wage, jobs and social security for all workers including unorganized sector. Shri Dattatreya was addressing a function on the 3 years achievements of the his ministry in New Delhi today. He said that the Ministry is implementing reforms and new ways and means for employment generation. India is the only country which has launched Shram Suvidha Portal for effective compliance and ease of doing business. The Ministry is implementing the National Career Service (NCS) project as a vibrant platform for transforming and strengthening the public employment services in the country.

Shri Dattatreya said that the Ministry got the following Acts passed by the Parliament during last 3 years.

1- The Child Labour (Prohibition and Regulation) Amendment Act, 2016 which ensures complete prohibition on employment of children below 14 years and also prohibited the adolescents (14-18 years ) to work in hazardous occupation/processes

2- The Maternity Benefit (Amendment) Act, 2017 under which maternity benefit to woman has been increased from 12 weeks to 26 weeks for two surviving children and 12 weeks for more than two children

3- The Payment of Wages(Amendment) Act,2017 enables the employers to pay the wages to their employees by cash or cheque or crediting it to their bank account.

4- The Employees Compensation (Amendment) Act, 2017 has the provision to increase the penalty for contravention of Act from present Rs.5000/- to Rs. 50,000/- extendable to Rs.1 Lakh.

5- Payment of Bonus Amendment Act, 2015 has enhanced the eligibility limit under section 2(13) from Rs. 10,000/- to Rs.21,000/- per month.

6- The Industrial Employment (Standing Orders) Act, 1946 has been amended by notification to include n++fixed term employmentn++ for textile (apparel) sector as a part of textile package to enhance employment.

The Labour & Employment Minister said that the Ministry is working on the proposed codification of existing Labour Laws into 4 Labour Codes.

(i) Labour Code on Wages

(ii) Labour Code on Industrial Relations

(iii) Labour Code on Social Security and Welfare

(iv) Labour Code on Occupational Safety and Working Conditions

The Group of Ministers has approved the Labour Code on Wages and it will be sent to cabinet for approval.

The Minister said that the Minimum wage (per day) for non-agricultural worker in the C area category increased from Rs 246 to Rs 350, Rs 437 in B Area category and Rs 523 in A area category. He also informed that the Shram Suvidha Portal is a single unified web portal for submissions of common Annual Return under 9 Central Acts and monthly common Electronic Challan Cum Return (ECR) for EPFO and ESIC. He also informed that Unique Labour Identification Number (LIN) is allotted to Units and 19,23,162 Lakhs LIN allotted as on on 22nd May, 2017. Total 2,95,423 inspections have been assigned and out of that 2,76,931 inspections have been uploaded as on 22nd May, 2017. Common registration under EPFO and ESIC has been facilitated on the Shram Suvidha Portal since 30th April, 2017.

Shri Dattatreya said that Registers/Forms to be maintained under various labour laws are simplified. 56 Registers/- Forms under 9 Central Labour Laws and Rules made thereunder have been replaced with 5 common Registers/Forms. The notification has been issued on 28th March, 2017 for reducing Forms under certain Labour Law Rules from 36 to 12. It is applicable to the establishments under the jurisdiction of Central as well as State Governments.

He said that employers can apply for EPF code number online by uploading of digitally signed documents. As on 06th December, 2016 around 1.52 Lakhs establishments have been obtained online registration on OLRE portal. Universal Account Number(UAN) has been made compulsory and online credit system introduced. Minimum pension under Employees Pension Scheme, 1995 has been revised to Rs. 1000/- in perpetuity per month w.e.f. April 2015. Time limit for claim settlement has been reduced to 10 days from 20 days. No documents required and only self-certification is necessary for withdrawal under the EPF scheme for the accounts linked with Aadhaar.

The Minister informed that ESIC is now covering complete districts instead of targeted industrial clusters. Coverage expanded to all 393 districts where these clusters are located. 301 districts have been fully covered. In the second phase, the target is to cover all the remaining districts of the country. n++One IP-Two Dispensariesn++ scheme has been launched for the benefit of migrant workers. Now Insured Persons can choose two dispensaries, one for self and another for family through an employer.

Shri Bandaru Dattatreya said that over 3.87 crore candidates, 14.8 lakh establishments are registered on the National Career Service (NCS) Portal and it has mobilized over 6 lakh vacancies. Around 540 job fair were organised in 2016-17. The NCS project also involves setting up of 100 Model Career Centre to deliver quality employment services and these centres are being set up in collaboration with States and Institutions. NCS has partnered with Department of Posts and common services centre to extend registration of job seekers through the Post Offices.

Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) scheme has been announced to incentivize employers for new employment. Government will be paying the 8.33% EPS contribution for these new employment for the period of 3 years. For the textile (Apparel & made up) sector, Government will also pay the 3.67% EPF contribution of employers for these new employees. Till now benefit have been transferred to 1,954 establishments covering 75,848 beneficiaries under the scheme with an expenditure of Rs. 6 crores (approx.).

Rehabilitation of Bonded Labour Scheme has been revised with effect from 17th May, 2016 where financial assistance has been increased from Rs.20,000/- Rs.1,00,000/- per adult male beneficiary, Rs 2 Lakh for special category beneficiaries such as children including orphans or those rescued from organized & forced begging rings or other forms of forced child labour and women. Rs 3 Lakh in cases of bonded or forced labour involving extreme cases of deprivation or marginalization.

The Secretary, Ministry of Labour & Employment, Ms. M. Sathiyavathy in her welcoming address said that the Government is creating environment to facilitate employment with quality and fair wages. For this number of initiatives and programmes have been undertaken.

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