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Vivimed Labs spurts after unit successfully completes USFDA inspection
Nov 30,2016

The announcement was made after market hours yesterday, 29 November 2016.

Meanwhile, the S&P BSE Sensex was up 78.36 points or 0.3% at 26,472.37.

On the BSE, 3.78 lakh shares were traded on the counter so far as against the average daily volumes of 2.89 lakh shares in the past one quarter. The stock had hit a high of Rs 107.40 and a low of Rs 102 so far during the day. The stock had hit a record high of Rs 121.15 on 4 October 2016. The stock had hit a 52-week low of Rs 68 on 9 August 2016. The stock had underperformed the market over the past one month till 29 November 2016, declining 13.97% compared with the Sensexs 5.54% fall. The scrip had, however, outperformed the market in past one quarter, advancing 24.63% as against the Sensexs 5.41% fall.

The large-cap company has equity capital of Rs 16.20 crore. Face value per share is Rs 2.

The audit was conducted during the last week of November and concluded on 28 November 2016. Furthermore, Vivimed obtained abbreviated new drug application (ANDA) approval for Metronidazole and same is commercialised. During November 2016, the company acquired ANDA of Zolpidem and the file transfer has successfully been completed. It is expected to be commercialised by Q4 March 2017.

Vivimed is on track of its filing targets and has successfully completed 3 ANDA filings during the current financial year and expect one more filing to be completed by Q4 March 2017. These products provide vertical integration with the in-house active pharmaceutical ingredients (APIs).

Santosh Varalwar, Managing Director of Vivimed Labs, said the company is on track with its filings pipeline which are expected to bear fruits when these products start to commercialise over the next 18-24 months.

On a consolidated basis, Vivimed Labs net profit rose 12.4% to Rs 26.85 crore on 11.5% decline in net sales to Rs 298.36 crore in Q2 September 2016 over Q2 September 2015.

Vivimed Labs is a niche specialty chemicals and pharmaceuticals company.

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Lupin gains after receiving USFDA approval for Armodafinil tablets
Nov 30,2016

The announcement was made after market hours yesterday, 29 November 2016.

Meanwhile, the BSE Sensex was up 67.23 points, or 0.25%, to 26,461.24.

On BSE, so far 25,000 shares were traded in the counter, compared with average daily volume of 99,927 shares in the past one quarter. The stock hit a high of Rs 1,545.55 and a low of Rs 1,526.90 so far during the day. The stock hit a 52-week high of Rs 1,911.55 on 9 February 2016. The stock hit a 52-week low of Rs 1,294.05 on 29 March 2016. The stock had outperformed the market over the past 30 days till 29 November 2016, falling 0.06% compared with the 5.50% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 2.25% as against Sensexs 7.23% decline.

The large-cap company has equity capital of Rs 90.27 crore. Face value per share is Rs 2.

Lupin announced that its US subsidiary Lupin Pharmaceuticals Inc (LPI) has received final approval from the United States Food and Drug Administration (USFDA) to market Armodafinil tablets 50mg, 150mg, 200mg and 250mg. LPI shall commence promoting the product in the US shortly. Lupins Armodafinil tablets are the AB rated generic equivalents of Cephalon, Incs Nuvigil tablets. Armodafinil tablets are indicated to improve wakefulness in adult patients with excessive sleepiness associated with obstructive sleep apnea (OSA), narcolepsy or shift work disorder (SWD). Nuvigil tablets had annual US sales of $515.6 million as per IMS MAT September 2016 data.

Lupins consolidated net profit jumped 57.8% to Rs 662.19 crore on 31.9% rise in net sales to Rs 4211.18 crore in Q2 September 2016 over Q2 September 2015.

Lupin is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally. The company is a significant player in the cardiovascular, diabetology, asthma, pediatric, central nervous system (CNS), GI, Anti-Infective and NSAID space and holds global leadership position in the Anti-TB segment.

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Tamil Nadu Newsprint & Papers standalone net profit rises 18.56% in the September 2016 quarter
Nov 30,2016

Net profit of Tamil Nadu Newsprint & Papers rose 18.56% to Rs 70.58 crore in the quarter ended September 2016 as against Rs 59.53 crore during the previous quarter ended September 2015. Sales rose 22.48% to Rs 667.05 crore in the quarter ended September 2016 as against Rs 544.63 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales667.05544.63 22 OPM %26.4525.34 - PBDT132.38110.90 19 PBT79.5176.42 4 NP70.5859.53 19

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Wanbury reports standalone net profit of Rs 7.07 crore in the September 2016 quarter
Nov 30,2016

Net profit of Wanbury reported to Rs 7.07 crore in the quarter ended September 2016 as against net loss of Rs 2.44 crore during the previous quarter ended September 2015. Sales rose 14.43% to Rs 120.86 crore in the quarter ended September 2016 as against Rs 105.62 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales120.86105.62 14 OPM %10.018.91 - PBDT9.45-0.21 LP PBT7.07-2.44 LP NP7.07-2.44 LP

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Government takes various steps to check prices of pulses
Nov 30,2016

In the Report of the Working Group on Foodgrains-Balancing Demand and Supply for the 12th Five Year Plan, the estimated demand of pulses in the year 2014-15, 2015-16 and 2016-17 are 22.68 MMT, 23.62 MMT and 24.61 MMT respectively. steps taken by the Government to reduce the prices of pulses are given below.

n++ Export of all pulses is banned except kabuli channa and up to 10,000 MTs in organic pulses and lentils.

n++ Import of pulses are allowed at zero import duty.

n++ Stock limit on pulses extended till 30.9.2017.

n++ MSP raised for kharif pulses of 2016-17 for Tur, Urad and Moong as well as for Rabi pulses of Gram and Masoor for season 2016-17.

n++ Government has approved creation of buffer stock of pulses for effective market intervention. Buffer of around 6.18 lakh MT of pulses has already been procured out of the target of 20 lakh tonnes.

n++ Government has released around 38,974 MT of pulses from the buffer stock (consisting of Tur and Urad) to States/UTs at subsidized rates for retailing by them at not more than Rs 120/- per kg to improve availability and stabilize prices. In addition, 6884 MT of Chana has been allocated to states at subsidized rate for retailing.

n++ Securities & Exchange Board of India (SEBI) has banned new contracts in Chana to dampen speculative activities in Chana and in respect of running contracts in Chana disallowed taking fresh positions to reduce speculative activities.

n++ Strict vigilance by Directorate of Revenue Intelligence to prevent importers from mis-using the facilities of Customs Bonded Warehouse facility.

n++ Setting up of a Group of Officers for regular monitoring and exchange of information on hoarding, cartelization etc.

n++ About 1.40 lakh tonnes pf pulses seized from 14612 raids and disposed of 1.28 lakh tonnes either by auction or other means permitted under EC Act, 1955.

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Tata Power witnesses initial volatility post impressive Q2 numbers
Nov 30,2016

Meanwhile, the S&P BSE Sensex was up 70.19 points or 0.27% at 26,464.20.

On the BSE, 1.34 lakh shares were traded on the counter so far as against average daily volume of 4.82 lakh shares in the past one quarter. The stock had hit a high of Rs 72.75 and a low of Rs 71.05 so far during the day. The stock had hit a 52-week high of Rs 84.45 on 24 October 2016. The stock had hit a 52-week low of Rs 55 on 12 February 2016. The stock had underperformed the market over the past one month till 29 November 2016, declining 7.97% compared with the Sensexs 5.54% fall. The scrip had, however, outperformed the market in past one quarter, sliding 4.87% as against the Sensexs 5.41% fall.

The large-cap company has equity capital of Rs 270.46 crore. Face value per share is Rs 270.46.

Tata Power Company (Tata Power) reported consolidated net profit of Rs 336 crore in Q2 September 2016, compared with net loss of Rs 96 crore in Q2 September 2015. Consolidated total income from operations declined 5.96% to Rs 7209 crore in Q2 September 2016 over Q2 September 2015, due to lower revenue at standalone level due to lower fuel cost & lower power purchase, lower million units (MUs) traded at Tata Power Trading Company (TPTCL).

The company reported a turnaround in bottom line in Q2 September 2016 vis-n++-vis corresponding previous quarter mainly due to lower mark-to-market (MTM) losses at Coastal Gujarat Power (CGPL) and better performance by key Indian subsidiaries and Indonesian coal mines.

Tata Powers CEO & Managing Director Anil Sardana said, the company has improved profitability and has maintained strong operational performance across all business verticals. The companys subsidiaries continue to perform well despite challenging circumstances. Management is confident that the companys strong growth trajectory will continue into the next quarter, Sardana said.

Tata Powers 100% subsidiaries viz. Bhira Investments nd Bhivpuri Investments (selling companies) had signed an agreement for sale and purchase of shares on 30 January 2014, to sell its 30% stake in PT Arutmin, Indonesia and associated trading and infrastructure companies for an aggregate consideration of $510 million. Consequent to certain closing adjustments to the sale consideration and other changes agreed between the parties, the selling companies have signed revised definitive agreements with PT Cakrawala Langit Sejahtera (PT CLS) a Bakrie group entity on 28 November 2016.

The sale consideration for PT Arutmin is now revised to $246.64 million from the earlier value of $390 million, pursuant to closing adjustments relating to certain prior period liabilities, which includes settlement of past claims with mining contractor, pursuant to a court order (about $80 million as companys share) and other statutory liabilities (about $50 million.). The consideration is expected to be received in a phased manner over next few years.

With regard to the infrastructure company PT Mitratama Perkasa (PTMP), in which PT Sumber Energi Andalan Tbk (Sumber) holds Tata Powers 30% equity; and Trust Energy Resources Pte, a 100% subsidiary of the company (Trust Energy) which holds Sumber, has entered into an agreement with Rwood Resources, a Bakrie Group Entity, for divestment of 94.61% stake in Sumber. The sale consideration for Infrastructure companies is now revised to $154.28 million from the earlier value of $120 million, pursuant to closing adjustments relating to prior period. The consideration is expected to be received in a phased manner over next few years.

Meanwhile, Tata Powers board decided to convene an extraordinary general meeting of the shareholders of the company on 26 December 2016, for considering and passing a resolution for removal of Cyrus P. Mistry as director of the company.

Tata Power is Indias largest integrated power company with a growing international presence. The company together with its subsidiaries and jointly controlled entities has an installed gross generation capacity of 10,477 megawatts (MW) and a presence in all the segments of the power sector viz. fuel security and logistics, generation, transmission, distribution and trading.

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Tata Power provides update on sale of 30% stake held by its subsidiaries in PT Arutmin, Indonesia
Nov 30,2016

Tata Power Company announced that the Companys 100% Subsidiaries viz. Bhira Investments and Bhivpuri Investments (Selling Companies) had signed an agreement for sale and purchase of shares on 30 January 2014 to sell its 30% stake in PT Arutmin, Indonesia and associated trading and infrastructure companies for an aggregate consideration of USD 510 million.

Consequent to certain closing adjustments to the sale consideration and other changes agreed between the parties, the Selling Companies have signed revised definitive agreements with PT Cakrawala Langit Sejahtera (PT CLS) a Bakrie group entity on 28 November 2016.

The sale consideration for PT Arutmin is now revised to USD 246.64 million from the earlier value of USD 390 million, pursuant to closing adjustments relating to certain prior period liabilities, which includes settlement of past claims with Mining Contractor, pursuant to a court order (about USD 80 million as Companys share) and Other Statutory liabilities (about 50 USD million). The consideration is expected to be received in a phased manner over next few years.

With regard to the infrastructure company PT Mitratama Perkasa (PTMP), in which PT Sumber Energi Andalan Tbk (Sumber) holds Companys 30% equity; and Trust Energy Resources Pte. Limited, a 100% subsidiary of the Company (Trust Energy) which holds Sumber, has entered into an agreement with Rwood Resources Ltd., a Bakrie Group Entity, for divestment of 94.61% stake in Sumber. The sale consideration for Infrastructure companies is now revised to USD 154.28 million from the earlier value of USD 120 million pursuant to closing adjustments relating to prior period. The consideration is expected to be received in a phased manner over next few years.

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Haryana Financial Corporation reports standalone net loss of Rs 0.29 crore in the September 2016 quarter
Nov 30,2016

Net Loss of Haryana Financial Corporation reported to Rs 0.29 crore in the quarter ended September 2016 as against net loss of Rs 0.74 crore during the previous quarter ended September 2015. Sales rose 20.69% to Rs 0.70 crore in the quarter ended September 2016 as against Rs 0.58 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.700.58 21 OPM %-125.71-274.14 - PBDT-0.20-0.65 69 PBT-0.29-0.74 61 NP-0.29-0.74 61

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Kanoria Chemicals & Industries standalone net profit declines 32.09% in the September 2016 quarter
Nov 30,2016

Net profit of Kanoria Chemicals & Industries declined 32.09% to Rs 3.47 crore in the quarter ended September 2016 as against Rs 5.11 crore during the previous quarter ended September 2015. Sales declined 8.17% to Rs 64.14 crore in the quarter ended September 2016 as against Rs 69.85 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales64.1469.85 -8 OPM %8.149.71 - PBDT10.1510.45 -3 PBT5.255.96 -12 NP3.475.11 -32

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Tata Power Company standalone net profit rises 25.60% in the September 2016 quarter
Nov 30,2016

Net profit of Tata Power Company rose 25.60% to Rs 447.34 crore in the quarter ended September 2016 as against Rs 356.16 crore during the previous quarter ended September 2015. Sales declined 26.65% to Rs 1330.84 crore in the quarter ended September 2016 as against Rs 1814.33 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales1330.841814.33 -27 OPM %41.1435.29 - PBDT780.33628.92 24 PBT622.46478.57 30 NP447.34356.16 26

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National Fertilizer standalone net profit declines 10.64% in the September 2016 quarter
Nov 30,2016

Net profit of National Fertilizer declined 10.64% to Rs 46.51 crore in the quarter ended September 2016 as against Rs 52.05 crore during the previous quarter ended September 2015. Sales declined 15.88% to Rs 1900.94 crore in the quarter ended September 2016 as against Rs 2259.68 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales1900.942259.68 -16 OPM %7.326.97 - PBDT105.91127.11 -17 PBT87.70107.91 -19 NP46.5152.05 -11

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US stocks eke out gains
Nov 30,2016

U.S. stocks closed higher on Tuesday, 29 November 2016 with the Nasdaq touching a record, but the market failed to make much headway as oil futures slumped ahead of a key meeting of major crude producers. Better than expected economic data was peppered into the pre-market mix that was pretty bland otherwise. The second reading of gross domestic product showed the economy grew at the fastest pace in over two years in the third quarter, while a measure of consumer confidence soared in November to pre recession levels.

The Dow Jones Industrial Average rose 23.70 points, or 0.1%, to finish at 19,121.60. The Nasdaq Composite Index advanced 11.11 points, or 0.2%, to close at 5,379.92 after touching an intraday trading high of 5,403.86 earlier. The S&P 500 index added 2.94 points, or 0.1%, to end at 2,204.66, with health-care and real-estate shares leading.

Shares of oil giants Chevron and Exxon Mobil were among the blue-chip indexs worst performers. The energy sector was down 1.2% due to oil futures sliding nearly 4% as doubts mounted that the worlds biggest crude producers will reach a deal Wednesday to cut global output.

The stock market appeared to be on track for a swift recovery from a Monday dip, but a pullback during the final hour made the rebound appear not nearly as swift. Equity indices started the day on a flat note, but heavily-weighted sectors like health care, financials, and technology sectors saw buying interest from the start, which was enough to improve sentiment around other sectors.

Among economic data expected for the day, third-quarter GDP was revised up to 3.2% from 2.9% (consensus 3.0%), driven by an upward revision to personal expenditures growth. Separately, the November Consumer Confidence report (consensus 100.0) soared past estimates at 107.1, even though the bulk of the survey was conducted amid pre-election uncertainty. Separately, the Case-Shiller 20-city Index for September showed an increase of 5.1% while the Briefing.com consensus expected a reading of 5.2%

The ICE dollar index rose nearly 4% since the U.S. presidential election, while 10-year Treasury yields hit 2.32%, highest levels since 2003, as investors bet on fiscal-stimulus driven growth and higher inflation under the new administration.

The Italian referendum on Sunday is seen as one of the bigger political risks with the potential to destabilize European markets. While the ballot is on proposed constitutional reforms, it is generally being seen in the country as a vote of confidence in Prime Minister Matteo Renzi, with the risk that a victory for n++non++ will lead to his resignation and the dissolution of Italys government.

Intraday trading volume was below average, but final-hour selling brought the NYSE floor total up to 901 million.

Tomorrow, the weekly MBA Mortgage Index will be released at 7:00 ET while November ADP Employment Change (consensus 160K) will be reported at 8:15 ET. October Personal Income (consensus 0.4%), Personal Spending (consensus 0.5%), and Core PCE Price Index (consensus 0.1%) will be released at 8:30 ET while Chicago PMI for November (consensus 52.0) will cross the wires at 9:45 ET. October Pending Home Sales (consensus 0.7%) are expected at 10:00 ET, and the days data will be topped off with the 14:00 ET release of the Federal Reserves Beige Book for November.

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Tata Power in focus after turnaround in Q2 results
Nov 30,2016

Tata Power Company reported consolidated net profit of Rs 336.24 crore in Q2 September 2016, compared with net loss of Rs 95.87 crore in Q2 September 2015. Total income declined 3.5% to Rs 7311.82 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 29 November 2016.

Lupin announced that its US subsidiary Lupin Pharmaceuticals Inc (LPI) has received final approval for its Armodafinil tablets 50mg, 150mg, 200mg and 250mg from the United States Food and Drug Administration (USFDA) to market a generic version of Cephalon, Incs Nuvigil tablets. LPI shall commence promoting the product in the US shortly. Lupins Armodafinil tablets are the AB rated generic equivalents of Cephalon, Incs Nuvigil tablets. Armodafinil tablets are indicated to improve wakefulness in adult patients with excessive sleepiness associated with obstructive sleep apnea (OSA), narcolepsy or shift work disorder (SWD). Nuvigil tablets had annual US sales of $515.6 million as per IMS MAT September 2016 data. The announcement was made after market hours yesterday, 29 November 2016.

Oil India said that the board of directors of the company in a meeting held on 28 November 2016, accorded approval for voluntary winding up of its wholly owned subsidiary-Oil India International in accordance with the provisions of the applicable laws. The announcement was made after market hours yesterday, 29 November 2016.

JK Paper announced that credit rating agency, India Ratings and Research (IndRa), assigned JK Papers Rs 5 crore term deposit programme rating at IND A-. The outlook is positive. The announcement was made after market hours yesterday, 29 November 2016.

Welspun Enterprises said that National Highways Authority of India (NHAI) has with respect to the concession agreement entered into between Welspun Delhi Meerut Expressway, a wholly-owned subsidiary of the company and NHAI for execution of the project on 4 March 2016, declared the appointed date for the project as 28 November 2016. Under the concession agreement, construction of the project is to be completed within 2.5 years from the appointed date and is to be maintained for 15 years thereafter, post which it will be transferred to NHAI. The project is to develop the existing section of a road in Delhi by six laning and four laning the either side of the expressway on design, build, operate and transfer basis. The announcement was made after market hours yesterday, 29 November 2016.

Eros International Media said that the meeting of board of directors of the company will be held on 2 December 2016, to consider and approve the proposal to raise funds through issue and offer of secured/unsecured, redeemable, non convertible debentures on public/private placement basis, in one or more tranches, upto the limit as may be decided by the board. The announcement was made after market hours yesterday, 29 November 2016.

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Clean Consumer Fora and Clean Market Scheme to launch from 2017-18
Nov 29,2016

Under the Swachh Bharat Mission, emphasis is being given for setting up of permanent mechanism through new programmes or schemes for sustainability of Swachhta. In pursuance of this, the Department of Consumer Affairs has decided to launch two schemes, namely, (i) Clean Consumer Fora and (ii) Clean Market from 2017-18.

The salient features of the schemes are as under:

Clean Consumer Fora : A number of consumers visit the Consumer Fora every day in connection with their complaints. There should be adequate facilities for the consumers in each Consumer Forum. Including adequate toilets, especially for the disabled. Under the scheme, financial assistance will be provided for construction/upgradation of toilets, at least three toilets- one for men, one for women and one for disabled, for the use of the consumers visiting the Consumer Fora in connection with their complaints.

Clean Market: Unhygenic conditions at market places pose health hazards to the consumers. Under the scheme, the Voluntary Consumer Organizations (VCO) will be associated and asked to adopt a market place where they can carry out awareness activities on Swachhta and also cleanliness of the market place including provision of sanitation facilities for consumers and street vendors, in association with the market association and local authorities. Financial assistance will be provided to a VCO in each State/UT.

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Government agencies procured more than 2 lakh tonnes Arhar and 82 thousand tonnes Moong
Nov 29,2016

The Government has approved creation of buffer stock of pulses upto 20 lakh tonnes including Arhar. For the buffer stock of pulses, the tentative targets fixed for procurement of Arhar and Moong are 2.65 lakh tonnes and 1.03 lakh tonnes respectively. The Procuring agencies have procured around 204,030.859 tonnes of Arhar and 82,859.59 tonnes of Moong.

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