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Swaraj Engines to hold board meeting
Jul 13,2017

Swaraj Engines will hold a meeting of the Board of Directors of the Company on 24 July 2017.

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Ras Resorts & Apart Hotels to hold board meeting
Jul 13,2017

Ras Resorts & Apart Hotels will hold a meeting of the Board of Directors of the Company on 12 August 2017.

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Walchand Peoplefirst to hold board meeting
Jul 13,2017

Walchand Peoplefirst will hold a meeting of the Board of Directors of the Company on 31 July 2017, to consider the un-audited Financial Results for the quarter ended 30th June 2017.

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Hatsun Agro jumps after inking pact for greenfield plant
Jul 13,2017

Meanwhile, the S&P BSE Sensex was up 224.81 points, or 0.71% to 32,029.63.

On the BSE, 2,568 shares were traded in the counter so far, compared with average daily volumes of 7,280 shares in the past one quarter. The stock had hit a high of Rs 670 and a low of Rs 632 so far during the day. The stock hit a record high of Rs 680 on 28 April 2017. The stock hit a 52-week low of Rs 300 on 14 July 2016.

The stock had outperformed the market over the past one month till 12 July 2017, rising 7.41% compared with 2.25% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 14.13% as against Sensexs 7.95% rise. The scrip had outperformed the market in past one year, rising 84.23% as against Sensexs 14.34% rise.

The mid-cap company has equity capital of Rs 15.22 crore. Face value per share is Re 1.

According to reports, Germany-based GEA Process Engineering has bagged a contract from Hatsun Agro Product to set up a greenfield dairy plant for it on turnkey basis at Dharapuram near Coimbatore at an investment of Rs 120 crore. The fully automated plant will process 6.5 lakh litres milk a day to pack 3 lakh litres of liquid milk and 1.5 lakh litres of curd. It will be in production in early 2018. The plant will be equipped with a Reverse Osmosis facility, a novel feature, to concentrate skim milk, a cold process to ensure natural freshness of the products.

Hatsun Agro Product reported net profit of Rs 43.30 crore in Q4 March 2017 as against net loss of Rs 16.79 crore in Q4 March 2016. Net sales rose 36.2% to Rs 1214.68 crore in Q4 March 2017 over Q4 March 2016.

Hatsun Agro Product manufactures and markets dairy products like milk, curd, ice creams, dairy whitener, skimmed milk powder, ghee, paneer, etc.

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JSW Steel gets revision in credit ratings
Jul 13,2017

JSW Steel has received revision/ assignment of credit ratings for its various debt facilities from ICRA as under -

ICRA has reaffirmed the long-term rating to the Rs. 5,351.04 crore(reduced from Rs. 10,082.16 crore) non-convertible debenture (NCD) programme and the Rs. 22,583.05 crore (enhanced from Rs. 21,754.12crore) term loans / Standby Letter of Credit facilities of JSW Steel (JSW Steel) at [ICRA]AA- (pronounced as ICRA double A minus)

ICRA has also assigned an [ICRA]AA- rating to the Rs. 5,000.00 crore proposed term loans and the Rs. 5,000.00 crore proposed NCD programme of JSW Steel. The outlook on the long-term rating, however, has been revised to Stable from Negative.

ICRA has reaffirmed the [ICRA]A1+ (pronounced ICRA A one plus) rating to the Rs. 3,500.00 crore commercial paper (CP) programme, the Rs. 1,400.00 crore (reduced from Rs. 1,488.00 crore) fund-based bankfacilities and the Rs. 16,800.00 crore (enhanced from Rs. 15,619.50 crore) non-fund based bank facilities of JSW Steel.

ICRA has also reaffirmed the long-term rating at [ICRA]AA- and the short-term rating at [ICRA]A1+ for the Rs. 5,844.40 crore (enhanced from Rs. 4,370.66 crore) long term/short term, fund based/non-fund based bank facilities of JSW Steel and revised the outlook on long-term rating to Stable from Negative.

ICRA has also assigned an [ICRA]A1+ rating to the Rs. 1,500.00 crore proposed CP programme of JSW Steel.

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Four stocks decline ex-dividend
Jul 13,2017

Meanwhile, the S&P BSE Sensex was up 222.12 points or 0.7% at 32,026.94.

Mphasis fell 2.83% to Rs 586.30 as the stock turned ex-dividend today, 13 July 2017, for dividend of Rs 17 per share for the year ended 31 March 2017. Before turning ex-dividend, the stock offered a dividend yield of 2.82% based on the closing price of Rs 603.40 on BSE yesterday, 12 July 2017.

Unichem Laboratories lost 0.48% to Rs 271 as the stock turned ex-dividend today, 13 July 2017, for dividend of Rs 3 per share for the year ended 31 March 2017. Before turning ex-dividend, the stock offered a dividend yield of 1.1% based on the closing price of Rs 272.30 on BSE yesterday, 12 July 2017.

RPG Life Sciences fell 0.23% to Rs 385.40 as the stock turned ex-dividend today, 13 July 2017, for dividend of Rs 2.80 per share for the year ended 31 March 2017. Before turning ex-dividend, the stock offered a dividend yield of 0.72% based on the closing price of Rs 386.30 on BSE yesterday, 12 July 2017.

Mahindra & Mahindra lost 0.13% to Rs 1,374.75 as the stock turned ex-dividend today, 13 July 2017, for dividend of Rs 13 per share for the year ended 31 March 2017. Before turning ex-dividend, the stock offered a dividend yield of 0.94% based on the closing price of Rs 1,376.60 on BSE yesterday, 12 July 2017.

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Higher GST on bio-fertilisers, organic manures to directly promote chemical usage & impact public health
Jul 13,2017

Apex industry body ASSOCHAM has urged the union government to review GST (Goods and Services Tax) rates for select agriculture inputs viz., bio fertilizers, bio pesticides/bio control agents (BCA), organic manures/vermicompost/farmyard manure (FYM) and others.

n++Higher GST in this segment will directly promote chemical usage thereby leading to increase in green house gas emissions, besides it will also adversely impact public health,n++ highlighted ASSOCHAM in a communication addressed to the union finance minister (FM), Mr Arun Jaitley.

It also noted that such a taxation policy on these segments will directly contradict efforts being made by Prime Minister Narendra Modi in promoting variety of schemes and projects such as Swachh Bharat, Soil Health Card, Namami Gange and various organic missions.

n++The GST Council has recommended far higher tax rates to certain specific manufactured products that are exempted in several states like West Bengal, Sikkim, Uttarakhand and other or attract the basic five per cent VAT (Value Added Tax) charges in majority of states,n++ said ASSOCHAM secretary general, Mr D.S. Rawat.

Highlighting the importance of bio-fertilizers, the chamber in its representation said that they are manufactured primarily by micro, small and medium enterprises (MSMEs) and also provide farmers an option towards sustainable agriculture practices like organic farming.

Besides, bio-fertilizers are highly beneficial as they are alternate solutions to farmers from use of chemical fertilizers that tends to spoil both soil and environment.

n++While the bio-fertilizers have so far been left out of tax ambit by majority of states including West Bengal, even the NABARD (National Bank for Agriculture and Rural Development) provides additional support to this sector in form of 50 per cent subsidy for setting up such units,n++ said Mr Rawat.

Just like bio-fertilizers, the bio-pesticides/bio-control agents are also used extensively for organic farming and integrated crop management practices.

The Government of India is promoting use of these beneficial micro organisms in various schemes for agriculture and allied sectors though their adaptability is very low.

The ASSOCHAM representation to the FM also highlighted that presently, bio-pesticides/bio-control agents are taxed in bracket of 5-6 per cent by majority of states but on the basis of their certifications they are exempt from paying excise and other taxes.

Similar to the bio-fertilizers segment, they are also provided subsidy and other benefits for setting up such plants.

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Chambal Fertilisers advances after delivering ship to buyer
Jul 13,2017

The announcement was made after market hours yesterday, 12 July 2017.

Meanwhile, the S&P BSE Sensex was up 205.94 points or 0.65% at 32,010.76. The S&P BSE Mid-Cap index rose 106.40 points or 0.71% at 15,190.74.

On the BSE, 51,000 shares were traded on the counter so far as against the average daily volumes of 3.51 lakh shares in the past one quarter. The stock had hit a high of Rs 131 and a low of Rs 127.10 so far during the day. The stock had hit a record high of Rs 140.80 on 6 July 2017 and a 52-week low of Rs 53.70 on 17 November 2016.

The stock had underperformed the market over the past one month till 12 July 2017, advancing 0.24% compared with the Sensexs 2.28% rise. The stock had, however, outperformed the market over the past one quarter, advancing 48.07% as against the Sensexs 7.29% rise. The scrip had also outperformed the market over the past one year, surging 83.74% as against the Sensexs 14.37% rise.

The mid-cap company has equity capital of Rs 416.21 crore. Face value per share is Rs 10.

Chambal Fertilisers & Chemicals said that it has delivered the ship - Ratna Shalini to the buyer on 11 July 2017. Earlier in May 2017, the company announced that it executed a memorandum of agreement with Rialto Navigation S.A., Liberia for sale of the ship - Ratna Shalini for a consideration of $24.5 million.

Chambal Fertilisers & Chemicals reported net profit of Rs 27.15 crore in Q4 March 2017 as against net loss of Rs 131.16 crore in Q4 March 2016. Net sales declined 23.63% to Rs 1072.76 crore in Q4 March 2017 over Q4 March 2016.

Chambal Fertilisers & Chemicals is one of the largest private sector fertilizer producers in India.

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Speciality Restaurants gains on pact to open restaurants
Jul 13,2017

The announcement was made after market hours yesterday, 12 July 2017.

Meanwhile, the S&P BSE Sensex was up 198.61 points or 0.62% at 32,003.43. The S&P BSE Small-Cap index advanced 81.05 points or 0.51% at 15,978.06.

On the BSE, 6,527 shares were traded on the counter so far as against the average daily volumes of 39,903 shares in the past one quarter. The stock had hit a high of Rs 123.50 and a low of Rs 120.50 so far during the day. The stock had hit a 52-week high of Rs 124.65 on 7 July 2017 and a record low of Rs 59.50 on 15 March 2017.

The stock had outperformed the market over the past one month till 12 July 2017, surging 48.61% compared with the Sensexs 2.28% rise. The stock had also outperformed the market over the past one quarter, advancing 36.07% as against the Sensexs 7.29% rise. The scrip had also outperformed the market over the past one year, gaining 23.89% as against the Sensexs 14.37% rise.

The small-cap company has equity capital of Rs 46.96 crore. Face value per share is Rs 10.

Speciality Restaurants said it has entered into a franchise agreement on 11 July 2017 with Resolute Restaurant Management LLC (the franchisee), granting the latter right to open three franchise restaurants under brand Mainland China Asia Kitchen in United Arab Emirates within the time stipulated in the franchise agreement. First franchise restaurant will be opened at BurJuman Mall, New Wing, in Dubai, United Arab Emirates. The company will manage the day-to-day operations of restaurant and charge franchise fees and management fees, in accordance with the terms of the franchise agreement.

Speciality Restaurants reported net loss of Rs 9.71 crore in Q4 March 2017, higher than net loss of Rs 4.03 crore in Q4 March 2016. Net sales declined 8% to Rs 69.49 crore in Q4 March 2017 over Q4 March 2016.

Speciality Restaurants is the owner of restaurant brands like Mainland China, Flame & Grill, Machaan, Oh! Calcutta, Sigree and Haka.

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Patel Integrated Logistics allots 6,49,311 equity shares
Jul 13,2017

The Board of Directors of Patel Integrated Logistics at its meeting held on 12 July 2017 inter alia approved allotment of 6,49,311 Equity Shares of face value of Rs.10/- each on conversion of same no. of Convertible Equity Warrants fully paid up at an issue price for Rs. 115/- (including premium of Rs.105/-) per Equity Warrant by the Company on preferential basis to Strategic Investor, Frontline Strategy, a company registered in Mauritius, not forming part of the Promoter Group of the Company in terms of SEBI (ICDR) Regulations, 2009 and as per special resolution passed by the members at their Extra Ordinary General Meeting held on 28 December 2015.

Consequent to such allotment, the Paid-up Equity Share Capital of the Company has increased from Rs.15,88,66,120/- consisting of 1,58,86,612 equity shares of Rs.10/- each to Rs. 16,53,59,230/- consisting of 1,65,35,923 equity shares of Rs.10/- each.

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Board of Cadila Healthcare appoints MD and COO
Jul 13,2017

The Board of Directors of Cadila Healthcare approved the appointment of Dr Sharvil P Patel as Managing Director of the Company. The Board approved the appointment of Ganesh Nayak as Whole Time Director who is designated as Chief Operating Officer and Executive Director of the Company. Current, Chairman and Managing Director Pankaj Patel, will continue as the Chairman of the Company, he has stepped down as the Managing Director.

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Religare Enterprises withdraws rating assigned to Commercial Paper
Jul 13,2017

Religare Enterprises announced that it has withdrawn its short-term rating [ICRA]A1+ assigned by ICRA to the Rs. 700 crore commercial paper/short term debt programme of the Company as there is no amount outstanding against the rated instruments for this rating and the Company does not intend to use the same in near future.

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Yes Bank allots 1,40,950 equity shares
Jul 13,2017

Yes Bank has allotted 1,40,950 equity shares on 12 July 2017 under ESOP. The paid up share capital has accordingly increased to Rs 457.63 crore comprising of 45,76,35,440 equity shares of Rs 10 each.

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TCS to be watched ahead of Q1 earnings
Jul 13,2017

IT major TCS is slated to announce Q1 June 2017 results today, 13 July 2017.

Chambal Fertilisers and Chemicals said that it has delivered the ship - Ratna Shalini to the buyer on 11 July 2017. Earlier in May 2017, the company announced that it executed a memorandum of agreement with Rialto Navigation S.A., Liberia for sale of the ship - Ratna Shalini for a consideration of $24.5 million. The announcement was made after market hours yesterday, 12 July 2017.

Tata Global Beverages will be watched. The stock exchanges sought clarification from the company with respect to news item titled, Tata Global Beverages to divest stake in groups firms to parent. Tata Global Beverages clarified after market hours yesterday, 12 July 2017, that it has not taken any decision on the matters mentioned in the media report and the news item is therefore speculative in nature.

Speciality Restaurants said it has entered into a franchise agreement on 11 July 2017 with Resolute Restaurant Management LLC (the franchisee), granting the latter right to open three franchise restaurants under brand Mainland China Asia Kitchen in United Arab Emirates within the time stipulated in the franchise agreement. First franchise restaurant will be opened at BurJuman Mall, New Wing, in Dubai, United Arab Emirates.

The company will manage the day-to-day operations of restaurant and charge franchise fees and management fees, in accordance with the terms of the franchise agreement. The announcement was made after market hours yesterday, 12 July 2017.

Bharti Airtel turns ex-dividend today, 13 July 2017, for dividend of Rs 1 per share for the year ended March 2017.

Mahindra & Mahindra turns ex-dividend today, 13 July 2017, for dividend of Rs 13 per share for the year ended March 2017.

Reliance Industries turns ex-dividend today, 13 July 2017, for dividend of Rs 11 per share for the year ended March 2017.

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IIP growth slows to 1.7% in May 2017
Jul 12,2017

Indias industrial production (base year 2011-12=100) increased at slower pace of 1.7% in May 2017 over May 2016. The manufacturing sectors production rose 1.2% in May 2017. Meanwhile, the electricity generation galloped 8.7%, but mining output declined 0.9% in May 2017. The growth for April 2017 has been revised downwards to 2.8% from 3.1% reported earlier.

As per the use-based classification, primary goods output improved 3.4% in May 2017 over a year ago, but the output of capital goods continued to decline for second straight month at (-) 3.9%. Intermediate goods output rose mere 0.7%, while the output of Infrastructure/ construction goods also moved up at subdued pace of 0.1%. The output of consumer non-durable durables increased 7.9%, but that of consumer durable goods declined for sixth straight month at 4.5% in May 2017 over May 2016.

In terms of industries, twelve out of the 23 industry groups in the manufacturing sector have shown positive growth in May 2017 as compared to the corresponding month of the previous year.

The industry group pharmaceuticals, medicinal chemical and botanical products has shown the highest positive growth of 24.5% followed by 24.4% in other manufacturing and 11.8% in other transport equipment. On the other hand, the industry group beverages has shown the highest negative growth of (-) 16.5% followed by (-) 15.1% in motor vehicles, trailers and semi-trailers and (-) 15.0% in electrical equipment.

Some important items showing high positive growth during the current month over the same month in previous year include digestive enzymes and antacids 90.5%, textile machinery 51.8%, meters electric and non-electric 48.7%, jewellery of gold studded with stones or not 36.7%, industrial valves of different types- safety, relief and control valvesnon-electronic, non-electrical 32.8%, telephones and mobile instruments 29.2%, aluminium billets/ingots 23.6% and tea 21.8%.

Some important items that have registered high negative growth include api & formulations of hypo-lipidemic agents incl. Anti-hyper-triglyceridemics; anti-hypertensive (-) 72.8%, air filters (-) 63.7%, shelled cashew kernel, whether or not processed/ roasted/ salted (-) 63.3%, axle (-) 47.0%, plastic jars, bottles and containers (-) 41.1%, kerosene (-) 40.6%, rice (excluding basmati) (-) 36.1%, tooth paste (-) 33.8%, api & formulations of vitamins (-) 32.0%, electrical apparatus for switching or protecting electrical circuits (-) 29.5%, commercial vehicles (-) 26.5% and beer & other undistilled and fermented alcoholic liqueurs other than wines (-) 24.9%.

Industrial production rose 2.2% in April-May FY2018, compared with 7.3% growth in the corresponding period last year. The manufactured product sector output improved 1.8%, while the mining and electricity generation moved up 1.1% and 7.1% in April-May FY2018.

Contribution to growth

Indias industrial production improved 1.72% in May 2017 over May 2016. The manufacturing sectors output improved 1.2% contributing to the growth in industrial production with a share of 95 basis points (bps). The electricity generation increased 8.7% contributing positively by 83 bps to the IIP growth, while the mining output declined 0.9% in May 2017, serving the IIP with a negative share of (-) 11 bps.

Among the 23 manufacturing industries group, industry group pharmaceuticals, medicinal chemical and botanical products at 182 bps, had the largest positive contribution in the 1.72% growth in the overall IIP, followed by coke and refined petroleum products at 61 bps, and the machinery and equipment group at 36 bps in May 2017. Industry group other transport equipment had a positive share of 21 bps, while other manufacturing at 20 bps, and computer, electronic and optical products at 18 bps, also served IIP with negative contribution in May 2017. Industry groups basic metals at 4 bps, leather and related products 3 bps and furniture 2 bps also had a positive contribution in May 2017.

About 12 groups out of 22 industry groups increased their output in May 2017, serving the IIP growth with positive contribution. These 12 groups had a positive contribution of 348 bps together to the IIP growth. These 12 groups together carry a weight of 40.9% in the IIP.

On the other hand, industry group motor vehicles, trailers and semi-trailers at (-) 71 bps, had the largest negative contribution to IIP growth in May 2017, followed by electrical equipment (-) 46 bps, chemicals and chemical products (-) 44 bps, fabricated metal products, except machinery and equipment (-) 33 bps, and beverages (-) 20 bps in May 2017. Industry group wearing apparel at (-) 14 bps, textiles (-) 12 bps, and food products (-) 7 bps, also served IIP with negative contribution in May 2017.

About 11 industry groups recorded a positive growth in May 2017, contributing positively to the IIP growth. These 11 groups had a positive contribution of (-) 257 bps together to the IIP growth in May 2017. These 11 groups carry a weight of 36.7% together in the IIP.

As per the use-based classification, primary goods contribution to the IIP growth of 1.7% was positive, at 111 bps, but capital goods served IIP, with a negative share of (-) 26 bps in May 2017. The contribution of intermediate goods was positive at 11 bps. The contribution of consumer goods remained negative at (-) 62 bps in the IIP growth, while the contribution of consumer non-durables goods was positive at 129 bps and infrastructure/ construction goods at 1 bps in May 2017.

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