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Fitch: Indian Point Closure Shows US Nuclear Sector Challenges
Jan 12,2017

The latest US nuclear plant shutdown highlights continued difficult operating conditions for merchant generators, due in large measure to low natural gas and energy prices amid sluggish demand, according to Fitch Ratings. Nuclear units are particularly vulnerable because of their high fixed operating and capital costs.

Indian Point units 2 and 3 have been added to the growing list of US nuclear power plants retiring before the end of their useful lives. Following a settlement agreement with New York state, Entergy Corp. agreed to shut Indian Point units 2 and 3 in April 2020 and April 2021, respectively. The closures will likely increase energy and capacity prices in the New York region, although the impact will ultimately depend on the type, amount and timing of replacement power. Likely beneficiaries are independent power producers operating within the region including NRG and Dynegy. New York Transco could also be a beneficiary of additional transmission opportunities.

The two Indian Point units, aggregating approximately 2,000 MW, join a list of five other nuclear units that have announced plans to prematurely retire between 2018 and 2025 and five other nuclear units that shuttered prematurely in 2013 and 2014. The closure stands in stark contrast to the Zero Energy Credit (ZEC) program implemented in New York in late 2016 that was intended to preserve the environmental attributes of two upstate nuclear plants. Indian Point, which has long been discussed by Governor Cuomo, was specifically excluded from the ZEC program because of its location in a constrained area that generally provided an uplift to wholesale energy prices.

As part of the agreement, New York state will withdraw legal challenges to Entergys license renewal application for the Indian Point units and issue the necessary permits and Entergy will request the Nuclear Regulatory Commission to shorten the term of the renewed license from 2033 and 2035 for units 2 and 3, respectively, to 2024 and 2025, providing some flexibility in the closures dates.

Entergy previously retired the Vermont Yankee nuclear plant in 2014 and announced plans for the early retirement of the Palisades and Pilgrim nuclear plants in 2018 and 2019, respectively (in each case before the expiration of their operating licenses), and completed the sale of the Fitzpatrick plant to Exelon Corp. The Indian Point closure will complete Entergys exit from the merchant energy business.

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Board of Ahmedabad Steelcraft to consider December quarter results
Jan 12,2017

Ahmedabad Steelcraft announced that the Board Meeting scheduled on 23 January 2017, for considering the following:

- Quarterly Financial Results (Unaudited Results) for the Quarter ended 31 December 2016.

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APL Apollo spurts after receiving patents for two new product designs
Jan 12,2017

The announcement was made after market hours yesterday, 11 January 2017.

Meanwhile, the S&P BSE Sensex was up 120.07 points, or 0.44%, to 27,260.48

On the BSE, 20,000 shares were traded in the counter so far, compared with an average volume of 3,568 shares in the past one quarter. The stock hit a high of Rs 1,088 in intraday trade so far, which is record high for the counter. The stock had hit a low of Rs 971.50 so far during the day. The stock hit a 52-week low of Rs 557 on 26 February 2016.

The stock had outperformed the market over the past 30 days till 11 January 2017, rising 6.88% compared with 1.66% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 9.66% as against Sensexs 1.82% fall.

The small-cap company has an equity capital of Rs 23.59 crore. Face value per share is Rs 10.

APL Apollo Tubes announced that it has recently received patents from the Indian Patent Office for two new product designs. The patents cover the shapes and configurations of window frame and metal tube products. This is in addition to the four hollow section design patents received in December 2016.

The company now holds eight design patents in total. The designs will have a patent for a period of 10 years, with a facility to further extend it for an additional period of 5 years.

APL Apollo Tubes consolidated net profit rose 67.7% to Rs 33.66 crore on 12.9% decline in net sales to Rs 927.99 crore in Q2 September 2016 over Q2 September 2015.

APL Apollo Tubes is one of the leading branded steel tubes manufacturer.

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Narbada Gems & Jewellery fixes record date for reduction of capital
Jan 12,2017

Narbada Gems & Jewellery announced that the Board of Directors in its meeting held on 11 January 2017 have fixed the Record Date on 23 January 2017 for the purpose of issuing new shares/ share certificate /credit to demat accounts, consequent to Reduction of capital as per Order of the Honble High Court.

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Mahindra Holidays advances after raising stake in subsidiary
Jan 12,2017

The announcement was made after market hours yesterday, 11 January 2017.

Meanwhile, the BSE Sensex was up 63.94 points, or 0.24%, to 27,205.87.

On the BSE, 1,817 shares were traded in the counter so far, compared with average daily volume of 12,157 shares in the past one quarter. The stock had hit a high of Rs 407.90 and a low of Rs 400 so far during the day. The stock had hit a 52-week high of Rs 513.30 on 26 August 2016. The stock had hit a 52-week low of Rs 322.40 on 12 February 2016.

The stock had underperformed the market over the past one month till 11 January 2017, rising 0.68% compared with the Sensex 1.47% gains. The scrip had also underperformed the market in past one quarter, dropping 13.63% as against Sensexs 3.35% decline.

The mid-cap company has equity capital of Rs 88.78 crore. Face value per share is Rs 10.

Mahindra Holidays & Resorts India (MHRIL) through its step-down subsidiary, Covington S.a.r.I, Luxembourg (Covington), has increased its stake in Holiday Club Resorts Oy, Finland (HCR) by acquiring additional 6.33% stake in the share capital of HCR. The consideration for the additional stake is Euro 4.37 million.

Consequently, its stake in HCR has been increased to 91.94% from 85.61% earlier. HCR is a subsidiary of MHRIL and is into vacation ownership business. HCR is Europes leading vacation ownership company, with 31 resorts in Finland, Sweden and Spain. For eighteen months period ended 31 March 2016 (FY 2016), HCR clocked turnover of Euro 183 million.

The increase in stake through acquisition of shares from an existing shareholder of HCR by exercising the option is aligned with the strategy of MHRIL and is within the main line of business of MHRIL.

Mahindra Holidays & Resorts Indias net profit rose 22% to Rs 32.87 crore on 6% rise in net sales to Rs 232.62 crore in Q2 September 2016 over Q2 September 2015.

Mahindra Holidays & Resorts India is a part of the leisure and hospitality sector of the Mahindra Group.

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NTPC hits 52-week high after signing MoU for takeover of Chhabra power plant
Jan 12,2017

The announcement was made during market hours today, 12 January 2017.

Meanwhile, the S&P BSE Sensex was up 74.24 points, or 0.27%, to 27,214.65

On the BSE, 3.37 lakh shares were traded on the counter so far as against the average daily volumes of 2.28 lakh shares in the past one quarter. The stock hit a high of Rs 170.60 in intraday trade so far, which is 52-week high for the counter. The stock had hit a low of Rs 164.40 so far during the day. The stock hit a 52-week low of Rs 116.80 on 25 February 2016.

The stock had underperformed the market over the past 30 days till 11 January 2017, falling 0.3% compared with 1.66% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 13.89% as against Sensexs 1.82% fall.

The large-cap company has equity capital of Rs 8245.46 crore. Face value per share is Rs 10.

NTPC said that the company has signed a non-binding memorandum of understanding (MoU) with Rajasthan Rajya Vidyut Utpadan and Rajasthan Urja Vikas Nigam for take-over of Chhabra thermal power plant stage-I (4x 250 MW) and stage-II (2x660 MW) of Rajasthan Urja Vikas Nigam.

In a separate announcement made after market hours yesterday, 11 January 2017, NTPC said that the companys board of directors has accorded investment approval for Dulanga coal mining project having rated production capacity of 7 MTPA at an appraised estimated cost of Rs 1053.41 crore.

NTPCs net profit declined 17.87% to Rs 2495.97 crore on 8.41% rise in net sales to Rs 19241.47 crore in Q2 September 2016 over Q2 September 2015.

Established in 1975, NTPC is Indias largest power utility with an installed capacity of 48,028 megawatts (MW).

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Moodys: Global issuance hits record high in 2016, despite lacklustre fourth quarter
Jan 12,2017

Global private debt issuance reached a record high of $3.9 trillion in 2016, up 9% from 2015, driven in part by stronger issuance in emerging markets, Moodys Investors Service said in a report today, citing Dealogic data. The record figure was achieved over the full year despite a 26% quarterly decline in the final three months.

Despite a weaker final quarter, global private market issuance reached a record high in 2016, said Rahul Ghosh, a Moodys Vice President -- Senior Credit Officer and co-author of the report. A strong third quarter, particularly in emerging markets, contributed to the record total over the year.

Issuers in advanced economies (AEs) tapped $502 billion in primary markets in Q4 2016, little changed from the same period in 2015, but down 26% over the quarter. Non-financial corporation (NFC) issuance rose 13% year-on-year, led by North American issuers, while financial institutions issuance was 14% lower than a year ago, mainly due to lower volumes by European issuers.

In 2016 as a whole, total private sector issuance in advanced economies climbed 3% compared to 2015 to stand at $2.65 trillion.

Total issuance in emerging markets in 2016 was 22% higher than the previous year at $1.294 trillion on growing Chinese primary markets, despite a 25% quarter-on-quarter decline in Q4.

Global high-yield (HY) placements increased 75% in Q4 2016 from depressed year earlier levels in virtually all regions that Moodys tracks. In particular, North American NFCs HY placements showed robust momentum in 2016. It was the only larger global primary market segment to grow on both the year and the quarter, according to Moodys classifications.

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Trigyn Technologies jumps after contract win by subsidiary
Jan 12,2017

The announcement was made after market hours yesterday, 11 January 2017.

Meanwhile, the S&P BSE Sensex was up 74.29 points or 0.27% at 27,214.70.

On the BSE, 20,686 shares were traded in the counter so far as against average daily volume of 66,260 shares in past one quarter. The stock was locked at a high of Rs 111.50 in intraday trade. The stock had hit a 52-week high of Rs 140.60 on 8 June 2016. The stock had hit a 52-week low of Rs 48.60 on 29 February 2016.

The stock had underperformed the market over the past one month till 11 January 2017, falling 7.33% compared with the Sensex 1.47% gains. The scrip had, however, outperformed the market in past one quarter, rising 0.57% as against Sensexs 3.35% decline.

The small-cap company has equity capital of Rs 29.74 crore. Face value per share is Rs 10.

Trigyn Technologies announced that Trigyn Technologies Inc., a wholly-owned subsidiary of the company awarded Federal GSAs IT Schedule 70 contract.

Trigyn Technologies, Inc. has been awarded a United States General Services Administration (GSA) schedule contract, (GS-35F-139GA), designating Trigyn Technologies, Inc. as an approved vendor on the GSAs IT Schedule 70.

The initial duration of the award is for a period of five years from 19 December 2016 through 18 December 2021. This award enables Government agencies and entities, federal, state and local, to more easily acquire and benefit from Trigyns IT professional services.

Trigyn has been approved to compete as a prime contractor for awards under the Category (SIN) 132-51 - Information Technology Professional Services.

GSAs IT Schedule 70 is the largest and most widely used acquisition vehicle in the Federal Government. The Indefinite Delivery/Indefinite Quantity (IDIQ) Multiple Award Schedule (MAS) provides direct access to products, services and solutions from certified industry partners.

This award will facilitate Trigyns continued expansion of its public sector business, which today encompasses services in more than 15 US states, with a significant presence in the Baltimore - Washington, DC and New York - New Jersey regions.

Trigyn Technologies, Inc. is a Delaware Corporation with offices in Washington, DC, Edison, New Jersey, Toronto, Montreal and Switzerland and development centers in Mumbai, India.

Trigyn Technologies consolidated net profit fell 7.94% to Rs 10.43 crore on 1.81% decline in net sales to Rs 169 crore in Q2 September 2016 over Q1 June 2016.

sTrigyn Technologies is an innovative solutions provider and systems integrator that has been in business for 30 years with more than 1,500 resources deployed today. Trigyn provides IT staffing, consulting, solutions, systems integration, digital marketing and other services to its clients.

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Prakash Industries gains after receiving mining lease
Jan 12,2017

The announcement was made after market hours yesterday, 11 January 2017.

Meanwhile, the S&P BSE Sensex was up 89.09 points, or 0.33%, to 27,229.50

On the BSE, 4.34 lakh shares were traded on the counter so far as against the average daily volumes of 1.40 lakh shares in the past one quarter. The stock hit a high of Rs 68.90 in intraday trade so far, which is a 52-week high for the counter. The stock had hit a low of Rs 65.50 so far during the day. The stock hit a 52-week low of Rs 23.05 on 12 February 2016.

The stock had outperformed the market over the past 30 days till 11 January 2017, rising 35.22% compared with 1.66% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 15.87% as against Sensexs 1.82% fall.

The small-cap company has equity capital of Rs 135.60 crore. Face value per share is Rs 10.

As per the mining plan, the geological reserves are around 9.9 million tonnes. The mine is expected to be developed in the next 6 months and thereafter the iron ore production from the mine would be utilized for captive purpose, Prakash Industries said. With this captive sourcing, the operating margin and profitability of the company would improve significantly, it added.

Prakash Industries reported 1533.71% surge in net profit to Rs 14.54 crore on 0.69% rise in total income to Rs 502.60 crore in Q2 September 2016 over Q2 September 2015.

Prakash Industries has diversified interests in steel, power and rigid PVC pipes.

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Moodys and ICRA: Stable outlook for Indias power sector reflects improved coal availability, policy initiatives
Jan 12,2017

Moodys Investors Service and its Indian affiliate, ICRA, say that their stable outlook for the power sector in India (rated Baa3 positive by Moodys) over the next 12-18 months reflects sustained improvement in domestic coal availability, as well as the Indian governments policy initiatives, which will likely lead to improvements in the financial position of state-owned electricity distribution companies in the next two to three years.

In fact, we changed the outlook for the Indian power sector to stable from negative, because the increased domestic production of coal will ease constraints on fuel supply, says Abhishek Tyagi, a Moodys Vice President and Senior Analyst.

Moodys also says that the Indian governments debt restructuring of the financially weak distribution utilities n++ under the Ujwal Discom Assurance Yojana (UDAY) implemented by 17 states so far n++ will likely improve the companies financial capacity to make timely payments to power generators.

These distribution utilities will also benefit from the lower cost of power purchases, due to improved domestic coal availability, the subdued tariff level of short-term traded power, and flexibility provided by the government to generating companies for the optimal utilization of coal, says Sabyasachi Majumdar, an ICRA Senior Vice President.

ICRA points out that an improvement in domestic coal availability has substantially mitigated coal supply risk and the risk of under-recovery in fuel costs n++ due to a reliance on costlier coal imports n++ for thermal independent power producers (IPPs).

ICRA also says that the improving financial profile of distribution utilities n++ which are key off-takers n++ will benefit IPPs through a reduction in the receivable cycle, and a modest improvement in the plant load factor over the next 18 months.

In addition, ICRA notes the uncertainty as to the timing of tariff compensations for affected thermal IPPs, given that the relevant authorities have yet to decide on the timing of such compensations for imported coal-based projects affected by changes in regulations in Indonesia (Baa3 stable).

Moodys says that renewable generation could act as a complementary source of power, rather than a competitor to thermal energy.

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HCL Technologies positioned amongst Leaders for Digital Services in Retail
Jan 12,2017

HCL Technologies has been positioned amongst leaders for Digital Services in Retail by the leading management consulting firm Zinnov. In its recent report titled n++Retail Digital Services Landscape - 2016n++, Zinnov analysed the retail digital transformation landscape and conducted a ranking of 21 digital service providers focused on the retail vertical. As per the Zinnov Zones for Digital in Retail study, HCL has been placed in the Leadership Zone for overall Digital Services in Retail as well as Retail Supply Chain Management.

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Board of TV Today Network to consider Q3 results
Jan 12,2017

T.V. Today Network announced that a meeting of the Board of Directors of the Company is scheduled to be held on 09 February 2017, inter alia, to consider, approve and take on record the Unaudited Financial Results of the Company for the quarter ended 31 December 2016 along with the limited review report of the auditors for the corresponding period (Q3).

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Steel Strips Wheels gains after winning order
Jan 12,2017

The announcement was made during market hours today, 12 January 2017.

Meanwhile, the S&P BSE Sensex was up 116.51 points or 0.43% at 27,256.92.

On the BSE, 6,101 shares were traded on the counter so far as against the average daily volumes of 9,091 shares in the past one quarter. The stock had hit a high of Rs 710 and a low of Rs 674 so far during the day.

The stock had hit a record high of Rs 775 on 14 October 2016 and a 52-week low of Rs 284 on 17 February 2016.

The small-cap company has equity capital of Rs 15.53 crore. Face value per share is Rs 10.

Steel Strips Wheels (SSWL) announced that it bagged another after-market exports order for supplying caravan steel wheels for European Union (EU) trailer market. Total order covers supplies of 62,000 wheels in 3 months. Orders comprise of 13 inch steel wheels to be supplied by the company with shipments starting from February 2017.

Steel Strips Wheels net profit rose 19.9% to Rs 18.02 crore on 2.8% decline in net sales to Rs 290.95 crore in Q2 September 2016 over Q2 September 2015.

Steel Strips Wheels designs and manufactures automotive steel wheels and is among the leading supplier to Indian and global automobile manufacturers.

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Caplin Point Laboratories to announce December quarter results
Jan 12,2017

Caplin Point Laboratories announced that the meeting of the Board of Directors of the Company is scheduled to be held on 06 February 2017 inter alia to consider, approve and take on record the Un-audited Financial Results for the quarter/nine months ended 31 December 2016.

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Board of IFGL Refractories to consider December quarter results
Jan 12,2017

IFGL Refractories announced that a meeting of the Board of Directors of the Company is scheduled to be held on 11 February 2017 for considering, amongst others, unaudited financial results, both on stand-alone and consolidated basis, of the Company for quarter ended on 31 December 2016.

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