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Tejassvi Aaharam reports standalone net loss of Rs 0.22 crore in the December 2016 quarter
Feb 17,2017

Net Loss of Tejassvi Aaharam reported to Rs 0.22 crore in the quarter ended December 2016 as against net loss of Rs 1.28 crore during the previous quarter ended December 2015. Sales reported to Rs 0.28 crore in the quarter ended December 2016. There were no Sales reported during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales0.280 0 OPM %-71.430 - PBDT-0.18-1.23 85 PBT-0.22-1.28 83 NP-0.22-1.28 83

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RTCL reports standalone net loss of Rs 0.21 crore in the December 2016 quarter
Feb 17,2017

Net Loss of RTCL reported to Rs 0.21 crore in the quarter ended December 2016 as against net loss of Rs 0.30 crore during the previous quarter ended December 2015. Sales rose 5740.00% to Rs 2.92 crore in the quarter ended December 2016 as against Rs 0.05 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales2.920.05 5740 OPM %5.14-400.00 - PBDT-0.22-0.36 39 PBT-0.31-0.43 28 NP-0.21-0.30 30

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Cipla launches adult Hepatitis B vaccine
Feb 17,2017

Cipla has launched adult Hepatitis B vaccine in India. Under a co-exclusive agreement with Serum Institute of India (SII), Cipla will market the vaccine for adults while SII will market it for adults and children.

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Retail inflation in Delhi, J&K more than double national average, demonetization possible reason: ASSOCHAM
Feb 17,2017

The retail inflation may have been hovering at quite a reasonable level of 3.17 per cent for January, 2017 on an all-India basis, but there is no respite for people right in Delhi along with a couple of other states, suffering the price rise at double the national average, with demonetization leaving its possible impact, an ASSOCHAM analysis has noted.

n++Against the national average of 3.17 per cent, Delhi had to bear the inflation rate, measured by the Consumer Price Index (CPI) at 6.32 per cent, while it was 7.01 per cent for Jammu and Kashmir (J&K) and 5.92 per cent for Himachal Pradesh,n++ said the ASSOCHAM analysis of the inflation data.

It also noted that in the rural belt of the national capital, the CPI inflation was close to seven per cent at 6.85 per cent. Similarly the rural areas of Jammu and Kashmir and HP which were quite high on the retail inflation chart, witnessed quite a high rate of price rise in January, 2017 year on year.

In J& K rural and far flung, the CPI inflation was 9.08 per cent and for the similar areas of HP it was 6.17 per cent, adds the ASSOCHAM.

n++The CPI inflation for January, 2017 on an all India level is much lower at 3.17 per cent than the one measured on the Wholesale Price Index, at 5.25 per cent. One of the plausible reasons could be the impact of demonetization on the supply chain, n++said ASSOCHAM President Mr Sandeep Jajodia.

But, what is more surprising is the huge gap between retail inflation in Delhi and the national average. n++ This was not expected at least in Delhi, especially when the phenomenon was not seen even in the neighbouring states of Haryana, UP and Punjab, thought it was slightly over four per cent in these statesn++, the chamber said, adding the demonetization would have led to supply chain disruption more in the national capital than other states.

In any case, there are several supply chain issues which can be fixed only by an efficient transport that is a function of a huge investment needed in building quality roads, rail network, air cargo and a well integrated and modern cargo movement trade, said Mr. Jajodia.

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HDFC Bank leads gainers on BSEs A group
Feb 17,2017

HDFC Bank rose 7.05% at Rs 1,420.90. The stock topped the gainers in A group. On the BSE, 42.98 lakh shares were traded on the counter so far as against the average daily volumes of 65,000 shares in the past two weeks.

VA Tech Wabag rose 5.24% at Rs 520.50. The stock was the second biggest gainer in A group. On the BSE, 38,000 shares were traded on the counter so far as against the average daily volumes of 6,277 shares in the past two weeks.

Dewan Housing Finance Corporation rose 4.65% at Rs 318.75. The stock was the third biggest gainer in A group. On the BSE, 4.49 lakh shares were traded on the counter so far as against the average daily volumes of 2.50 lakh shares in the past two weeks.

Repco Home Finance rose 4.69% at Rs 662.45. The stock was the fourth biggest gainer in A group. On the BSE, 14,000 shares were traded on the counter so far as against the average daily volumes of 21,000 shares in the past two weeks.

Cadila Healthcare rose 4.32% at Rs 448. The stock was the fifth biggest gainer in A group. On the BSE, 9.67 lakh shares were traded on the counter so far as against the average daily volumes of 1.51 lakh shares in the past two weeks.

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There has been a growth of 72% in the tourists arrived on e-Visa during January 2017 over January 2016
Feb 17,2017

Foreign Tourist arrivals to India and Foreign Tourist availing E-Visa facility during January 2017 Ministry of Tourism compiles monthly estimates of Foreign Tourist Arrivals (FTAs) & FTAs on e-Visa on the basis of Nationality-wise, Port-wise data received from Bureau of Immigration (BOI). Accordingly, for the month of January 2017, a growth of 16.5% is observed as compared to January 2016, surpassing the previous years corresponding growth of 6.8% observed in January 2016 over January 2015. Correspondingly, there has been observed a growth of 72% in the tourists arrived on e-Visa during January 2017 over January 2016 by registering a figure of 1.52 Lakhs as compared to 0.88 Lakhs in the month of January 2016. Clearly, the share of tourists availing e-Visa facility in January 2017 has reached a level of 15.5% as against 10.4% in the month of January 2016. This clearly outlines the steady success of e-Visa facility in quantifiable terms.

Following a modified approach, Ministry of Tourism from the month of January 2017, shall be presenting monthly Foreign Tourist Inflows to India as well as the Foreign Tourists who availed e-Visa facility, simultaneously.

The following are the important highlights regarding FTAs & FTAs on e-Visa from tourism during the month of January, 2017.

Foreign Tourist Arrivals (FTAs):

n++ The number of FTAs in January, 2017 were 9.83 lakh as compared to FTAs of 8.44 lakh in January, 2016 and 7.91 lakh in January, 2015.

n++ The growth rate in FTAs in January, 2017 over January, 2016 is 16.5% compared to 6.8% in January, 2016 over January, 2015.

n++ The percentage share of Foreign Tourist Arrivals (FTAs) in India during January 2017 among the top 15 source countries was the highest from USA (15.01%) followed by Bangladesh (14.91%), UK (11.11%), Canada (4.63%), Russian Fed. (4.46%), Australia (3.65%), Malaysia (3.15%), Germany (2.92%), France (2.89%) and China (2.54%), Sri Lanka (2.45%), Japan(2.15%),Afghanistan (1.84%), Rep. of Korea (1.61%) and Nepal (1.60%).

n++ The percentage share of Foreign Tourist Arrivals (FTAs) in India during January 2017 among the top 15 ports was the highest at Delhi Airport (28.30%) followed by Mumbai Airport (18.23%), Haridaspur Land checkpost (8.17%), Chennai Airport (7.32%), Goa Airport (6.51%), Bengaluru Airport (5.32%), Kolkata Airport (4.32%), Cochin Airport (3.73%), Ahmedabad Airport (3.37%) and Hyderabad Airport (2.74%), Gede Rail Land checkpost (1.77%), Trivandrum (1.62%), Trichy Airport (1.38%), Ghojadanga land checkpost (1.08%) and Amritsar Airport (1.02%).

Foreign Tourist Arrivals (FTAs) on e-Visa

n++ During the month of January, 2017 total of 1.52 lakh tourist arrived on e-Visa as compared to 0.88 lakh during the month of January 2016 registering a growth of 72.0%

n++ The percentage shares of top 15 source countries availing e-Visa facilities during January, 2017 were as follows:

UK (22.9%), USA (13.6%), Russian Fed (8.3%), China (6.3%), France (5.6%), Australia (4.4%), Germany (4.1%), Canada (3.6%), Korea (Rep.of) (3.2%) and Ukraine (2.2%), Netherlands (1.6%), South Africa (1.4%), Singapore (1.3%), Malaysia (1.3%) and Sweden (1.1%).

The percentage shares of top 15 ports in tourist arrivals on e-Visa during January, 2017 were as follows:

New Delhi Airport (36.5%), Mumbai Airport (20.5%), Dabolim (Goa) Airport (16.2%), Chennai Airport (7.0%), Bengaluru Airport (5.1%), Kochi Airport (4.2%), Kolkata Airport (2.7%), Trivandrum Airport (2.0%), Hyderabad Airport (2.0%) and Ahmadabad Airport (1.7%), Amritsar Airport (0.8%), Jaipur Airport (0.5%), Tirchy Airport (0.4%), Gaya Airport (0.2%)and Lucknow Airport(0.1%).

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Zydus Cadila gets final approval for Fluconazole Tablets and Clobetasol Propionate Spray
Feb 17,2017

Zydus Cadila has received final approval from the USFDA to market Fluconazole Tablets USP, in strengths of 50 mg, 100 mg, 150 mg and 200 mg and Clobetasol Propionate Spray, 0.05%.

Fluconazole Tablets USP which are used to treat fungal infections will be produced at the groups formulations manufacturing facility at Baddi.

Clobetasol Propionate Spray used in treatment of various skin disorders will be manufactured at the groups dedicated plant located at Changodar, Ahmedabad.

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Insurance penetration in India likely to cross 4 pc this year: ASSOCHAM
Feb 17,2017

Governments policy of insuring the uninsured has gradually pushed insurance penetration in the country and proliferation of insurance schemes are expected to catapult this key ratio beyond 4 per cent mark by the end of this year, reveals the ASSOCHAM latest paper.

Despite the gentle rise in insurance penetration which is percentage of insurance premium with reference to the Gross Domestic Product (GDP), it is still far below the global average, according to paper titled Insurance penetration in India, by the Associated Chamber of Commerce and Industry of India (ASSOCHAM).

The insurance penetration has started its northward journey is evident from the fact that it has increased from 3.3 per cent in 2014 to 3.44 per cent in 2015 on the back of various insurance schemes launched by the government, adds the paper.

As part of social security initiative, the government has launched low premium insurance schemes both life and non-life in 2015. Last year, it introduced crop insurance.

With objective to provide insurance cover to all, the Government launched Pradhan Mantri Suraksha Bima Yojna (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJBY) in 2015, noted the study.

PMSBY offers a renewable one-year accidental death-cum- disability cover of Rs 2 lakh for partial/permanent disability to all savings bank account holders in the age group of 18-70 years for a premium of Rs 12 per annum per subscriber. The scheme is managed by general insurance firms, adds the chamber.

PMJJBY, on the other hand, offers a renewable one year life cover of Rs 2 lakh to all savings bank account holders in the age group of 18-50 years, covering death due to any reason, for a premium of Rs 330 per annum per subscriber.

Besides, Pradhan Mantri Fasal Bima Yojana (PMFBY) launched last year to provide financial support to farmers suffering crop loss or damage arising out of unforeseen events will also add to insurance penetration.

PMFBY has been approved for implementation in all States and Union Territories from Kharif 2016 season in place of National Agricultural Insurance Scheme (NAIS) and Modified National Agricultural Insurance Scheme (MNAIS).

PMFBY is a significant improvement over the earlier schemes on several counts and comprehensive risk coverage from pre-sowing to post-harvest losses are some of the salient points. A budget provision of Rs 5501.15 crore has been made for the scheme for the current crop season, ASSOCHAM President Mr. Sandeep Jajodia said.

Rashtriya Swasthya Bima Yojana (RSBY) is a government-run health insurance scheme that provides for cashless insurance for hospitalisation in public as well as private hospitals. The scheme is force since April 1, 2008 and has been implemented in 25 states.

The number of lives covered under Health Insurance policies during 2015-16 was 36 crore which is approximately 30 per cent of Indias total population. The number has seen an increase every subsequent year as 28.80 crore people had the policy in the previous fiscal.

The measure of insurance penetration and insurance density calculated as the ratio of premium to population or per capita premium reflects the level of development of insurance sector in a country, said ASSOCHAM President.

During the first decade of insurance sector liberalization, the sector has reported consistent increase in insurance penetration from 2.71 per cent in 2001 to 5.20 per cent in 2009.

However, since then, the level of penetration has been volatile and remained below the peak. It declined from 3.9 to 3.3 per cent in 2014 due to certain regulatory changes and unfavourable market conditions.

This trend was observed in the level of insurance density which reached the maximum of USD 64.4 in the year 2010 from the level of USD 11.5 in 2001. During 2015, the insurance density moderated to USD 54.7. The insurance density of life insurance business had gone up from USD 9.1 in 2001 to reach the peak at USD 55.7 in 2010 and declined to USD 43.2 in 2015.

The life insurance penetration surged from 2.15 per cent in 2001 to 4.60 per cent in 2009. Since then, it has exhibited a declining trend reaching 2.6 per cent in 2014.

However, there was a slight increase 2015 reaching 2.72 per cent in 2015 when compared to 2.6 per cent in 2014. The Insurance Penetration for the insurance sector as a whole in 2015 was 3.4 per cent in India, as against world average of 6.2 per cent.

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Insurance penetration in India likely to cross 4 pc this year: ASSOCHAM
Feb 17,2017

Governments policy of insuring the uninsured has gradually pushed insurance penetration in the country and proliferation of insurance schemes are expected to catapult this key ratio beyond 4 per cent mark by the end of this year, reveals the ASSOCHAM latest paper.

Despite the gentle rise in insurance penetration which is percentage of insurance premium with reference to the Gross Domestic Product (GDP), it is still far below the global average, according to paper titled Insurance penetration in India, by the Associated Chamber of Commerce and Industry of India (ASSOCHAM).

The insurance penetration has started its northward journey is evident from the fact that it has increased from 3.3 per cent in 2014 to 3.44 per cent in 2015 on the back of various insurance schemes launched by the government, adds the paper.

As part of social security initiative, the government has launched low premium insurance schemes both life and non-life in 2015. Last year, it introduced crop insurance.

With objective to provide insurance cover to all, the Government launched Pradhan Mantri Suraksha Bima Yojna (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJBY) in 2015, noted the study.

PMSBY offers a renewable one-year accidental death-cum- disability cover of Rs 2 lakh for partial/permanent disability to all savings bank account holders in the age group of 18-70 years for a premium of Rs 12 per annum per subscriber. The scheme is managed by general insurance firms, adds the chamber.

PMJJBY, on the other hand, offers a renewable one year life cover of Rs 2 lakh to all savings bank account holders in the age group of 18-50 years, covering death due to any reason, for a premium of Rs 330 per annum per subscriber.

Besides, Pradhan Mantri Fasal Bima Yojana (PMFBY) launched last year to provide financial support to farmers suffering crop loss or damage arising out of unforeseen events will also add to insurance penetration.

PMFBY has been approved for implementation in all States and Union Territories from Kharif 2016 season in place of National Agricultural Insurance Scheme (NAIS) and Modified National Agricultural Insurance Scheme (MNAIS).

PMFBY is a significant improvement over the earlier schemes on several counts and comprehensive risk coverage from pre-sowing to post-harvest losses are some of the salient points. A budget provision of Rs 5501.15 crore has been made for the scheme for the current crop season, ASSOCHAM President Mr. Sandeep Jajodia said.

Rashtriya Swasthya Bima Yojana (RSBY) is a government-run health insurance scheme that provides for cashless insurance for hospitalisation in public as well as private hospitals. The scheme is force since April 1, 2008 and has been implemented in 25 states.

The number of lives covered under Health Insurance policies during 2015-16 was 36 crore which is approximately 30 per cent of Indias total population. The number has seen an increase every subsequent year as 28.80 crore people had the policy in the previous fiscal.

The measure of insurance penetration and insurance density calculated as the ratio of premium to population or per capita premium reflects the level of development of insurance sector in a country, said ASSOCHAM President.

During the first decade of insurance sector liberalization, the sector has reported consistent increase in insurance penetration from 2.71 per cent in 2001 to 5.20 per cent in 2009.

However, since then, the level of penetration has been volatile and remained below the peak. It declined from 3.9 to 3.3 per cent in 2014 due to certain regulatory changes and unfavourable market conditions.

This trend was observed in the level of insurance density which reached the maximum of USD 64.4 in the year 2010 from the level of USD 11.5 in 2001. During 2015, the insurance density moderated to USD 54.7. The insurance density of life insurance business had gone up from USD 9.1 in 2001 to reach the peak at USD 55.7 in 2010 and declined to USD 43.2 in 2015.

The life insurance penetration surged from 2.15 per cent in 2001 to 4.60 per cent in 2009. Since then, it has exhibited a declining trend reaching 2.6 per cent in 2014.

However, there was a slight increase 2015 reaching 2.72 per cent in 2015 when compared to 2.6 per cent in 2014. The Insurance Penetration for the insurance sector as a whole in 2015 was 3.4 per cent in India, as against world average of 6.2 per cent.

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Virinchi jumps after multi-year contract
Feb 17,2017

The announcement was made during trading hours today, 17 February 2017.

Meanwhile, the BSE Sensex was up 259.76 points, or 0.92%, to 28,561.03.

On the BSE, so far 1.56 lakh shares were traded in the counter, compared with average daily volumes of 78,582 shares in the past one quarter. The stock had hit a high of Rs 89.90 and a low of Rs 85 so far during the day.

The stock hit a 52-week high of Rs 94.80 on 16 January 2017. The stock hit a 52-week low of Rs 29.45 on 26 February 2016. The stock had underperformed the market over the past 30 days till 16 February 2017, falling 1.55% compared with the 3.83% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 43.71% as against Sensexs 8.23% rise.

The small-cap company has equity capital of Rs 17.99 crore. Face value per share is Rs 10.

Virinchi said it has signed up a multi-year contract for its flagship product QFundTM with one of the leading lenders of alternative financing industry in USA based out of Midwestern region of USA, operating through their 300 branches spread across 14 states of USA apart from lending through their online channels. Virinchis Cloud solution will replace the entire present IT infrastructure of the lender.

Over the first three years of the contract starting January 2017, Virinchi is expected to generate an annuity revenue of $3.5 million and services revenue of another $2.5 million, totaling a $6 million revenue addition over the same period.

On a consolidated basis, Virinchis net profit surged 100% to Rs 4.86 crore on 39.61% increase in net sales to Rs 77.75 crore in Q3 December 2016 over Q3 December 2015.

Virinchi is an IT products & services company focusing on customers in North America, Europe, & Middle East. Virinchi is currently a software service provider to retail micro lending industry in North America, the company operates through its subsidiary QFund Technologies, Inc a 100% subsidiary of Virinchi in USA.

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Volumes jump at Karur Vysya Bank counter
Feb 17,2017

Karur Vysya Bank clocked volume of 237.11 shares by 12:21 IST on BSE, a 292.80-times surge over two-week average daily volume of 81,000 shares. The stock rose 2.18% to Rs 93.60.

Sobha notched up volume of 3.82 lakh shares, a 96.93-fold surge over two-week average daily volume of 4,000 shares. The stock shed 0.44% to Rs 285.

FDC saw volume of 7.04 lakh shares, a 62.5-fold surge over two-week average daily volume of 11,000 shares. The stock rose 2.1% to Rs 214.

HDFC Bank clocked volume of 35.78 lakh shares, a 55.24-fold surge over two-week average daily volume of 65,000 shares. The stock jumped 7.17% to Rs 1,422.55.

Grindwell Norton saw volume of 2.04 lakh shares, a 31.86-fold rise over two-week average daily volume of 6,000 shares. The stock rose 3.05% to Rs 330.75.

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HDFC Bank leads gainers in A group
Feb 17,2017

HDFC Bank jumped 7.22% to Rs 1,423.25 at 12:13 IST. The stock topped the gainers in the BSEs A group. On the BSE, 35.75 lakh shares were traded on the counter so far as against the average daily volumes of 65,000 shares in the past two weeks.

VA Tech Wabag surged 5.14% to Rs 520. The stock was the second biggest gainer in A group. On the BSE, 33,000 shares were traded on the counter so far as against the average daily volumes of 6,277 shares in the past two weeks.

Repco Home Finance gained 4.41% at Rs 660.70. The stock was the third biggest gainer in A group. On the BSE, 10,000 shares were traded on the counter so far as against the average daily volumes of 21,000 shares in the past two weeks.

Cadila Healthcare advanced 4.24% at Rs 447.65. The stock was the fourth biggest gainer in A group. On the BSE, 9.08 lakh shares were traded on the counter so far as against the average daily volumes of 1.51 lakh shares in the past two weeks.

Castrol India rose 3.88% to Rs 432.05. The stock was the fifth biggest gainer in A group. On the BSE, 1.08 lakh shares were traded on the counter so far as against the average daily volumes of 61,000 shares in the past two weeks.

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Virinchi bags multi-year contract for its flagship product - QFundTM
Feb 17,2017

Virinchi has signed up a multi-year contract for its flagship product QFundTM with one of the leading lenders of alternative financing industry in USA. Virinchis cloud solution will replace the entire IT infrastructure of the lender.

Over the first three years of the contract starting January 2017, Virinchi is expected to generate an annuity revenue of $3.5 million and service revenue of another $2.5 million, totalling a $ 6 million revenue addition over the same period.

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Canara Bank intimates of Bank strike
Feb 17,2017

Canara Bank has been informed by Indian Banks Association (IBA) that the United Forum of Bank Union (UFBU) has given a call for strike in the Banking Industry on 28 February 2017.

The above strike is for the issues relating to Industry Level and not for any Bank level issues.

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Mayur Uniquoters announces resignation of director
Feb 17,2017

Mayur Uniquoters announced that Manav Poddar, Non- Executive Director of the Company has resigned w.e.f 16 February 2017.

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