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Dr Reddys Laboratories to hold board meeting
Jul 05,2017

Dr Reddys Laboratories will hold a meeting of the Board of Directors of the Company on 27 July 2017 Unaudited Financial Results of the Company for the quarter ended June 30, 2017.

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Motherson Sumi Systems to hold AGM
Jul 05,2017

Motherson Sumi Systems announced that the th Annual General Meeting(AGM) of the company on 28 July 2017.

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Technojet Consultants to hold AGM
Jul 05,2017

Technojet Consultants announced that the 35th Annual General Meeting(AGM) of the company on 31 July 2017.

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CGST rate of 5% not applicable on supply of goods unless brand name or trade name is actually on Register of TMs & is in force under TM Act 1999
Jul 05,2017

The Central GST (CGST) rate on supply of certain goods, such as chena or paneer, natural honey, wheat, rice and other cereals, pulses, flour of cereals and pulses, other than those put up in unit container and bearing a registered brand name, is NIL. Supply of such goods, when put up in unit container and bearing a registered brand name attracts 2.5% CGST rate.

Doubts are being raised as to the meaning of registered brand name. In this context, the Notification No. 1/2017-Central Tax (Rate), dated 28th June, 2017 [which notifies the CGST rates of intra-state supply of goods] and Notification No. 2/2017-Central Tax (Rate), dated 28th June, 2017 [which exempts intra-state supply of the specified goods] clearly defines n++registered brand namen++ as brand name or trade name, which is registered under the Trade Marks (TMs) Act, 1999. In this regard, Section 2 (w) read with section 2 (t) of the Trade Marks Act, 1999 provide that a registered trade mark means a trade mark which is actually on the Register of Trade Marks and remaining in force.

Thus, unless the brand name or trade name is actually on the Register of Trade Marks and is in force under the Trade Marks Act, 1999, CGST rate of 5% will not be applicable on the supply of such goods.

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Product price cut announcement boosts M&M
Jul 05,2017

The announcement was made after market hours yesterday, 4 July 2017.

Meanwhile, the S&P BSE Sensex was up 36.84 points or 0.12% at 31,246.63

On the BSE, 66,000 shares were traded on the counter so far as against the average daily volumes of 1.64 lakh shares in the past one quarter. The stock had hit a high of Rs 1,395 and a low of Rs 1,359.60 so far during the day. The stock had hit a record high of Rs 1,508.80 on 9 August 2016 and a 52-week low of Rs 1,141.80 on 2 December 2016.

The stock had underperformed the market over the past one month till 4 July 2017, falling 4.83% compared with 0.32% decline in the Sensex. The scrip, however, outperformed the market in past one quarter, rising 5.02% as against Sensexs 4.12% rise. The scrip had also underperformed the market in past one year, declining 7.01% as against Sensexs 14.88% rise.

The large-cap company has equity capital of Rs 310.55 crore. Face value per share is Rs 5.

Mahindra & Mahindra (M&M) announced that prices of vehicles for end-customers on large utility vehicles (UVs) and sports utility vehicles (SUVs) have been reduced by an average of 6.9%, while those that come under small car segment have been reduced by an average of 1.4%. Similarly, end-customer prices have been reduced by an average of 1.1% for small commercial vehicles and 0.5% for light commercial vehicles (LCVs) and heavy commercial vehicles (HCVs).

Since the GST rates on hybrid vehicles are significantly higher than that in the pre-GST regime, the prices for the end-customers of hybrid vehicles have been increased marginally. These price changes to end-customers will vary across states or even cities within a state, due to the differing levels of pre-GST local taxes. These price changes to end-customers will vary across states or even cities within a state, due to the differing levels of pre-GST local taxes.

The effect of the imposition of GST for tractors, which were not levied an excise duty, should be neutral given the input tax credits that would be available to OEMs. Hence there will be no change for end-customer prices for tractors. The Goods and Services Tax (GST) was implemented in the country with effect from 1 July 2017 to bring in one uniform tax across the country.

M&Ms net profit rose 19.9% to Rs 725.16 crore on 3.3% rise in net sales to Rs 11125.15 crore in Q4 March 2017 over Q4 March 2016.

M&M enjoys a leadership position in tractors and utility vehicles in India.

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Tata Motors inches up after announcing price reduction
Jul 05,2017

The announcement was made during market hours today, 5 July 2017.

Meanwhile, the S&P BSE Sensex was up 21.76 points or 0.07% at 31,231.55

On the BSE, 2.82 lakh shares were traded on the counter so far as against the average daily volumes of 18.86 lakh shares in the past one quarter. The stock had hit a high of Rs 434.25 and a low of Rs 427.55 so far during the day. The stock had hit a 52-week high of Rs 598.60 on 7 September 2016 and a 52-week low of Rs 417.10 on 8 May 2017.

The stock had underperformed the market over the past one month till 4 July 2017, falling 10.53% compared with 0.32% decline in the Sensex. The scrip also underperformed the market in past one quarter, sliding 9.69% as against Sensexs 4.12% rise. The scrip had also underperformed the market in past one year, declining 7.14% as against Sensexs 14.88% rise.

The large-cap company has equity capital of Rs 577.47 crore. Face value per share is Rs 2.

Tata Motors offered a price reduction of upto 12% ranging between Rs 3,300 and Rs 2.17 lakh depending on the model and variant. The Goods and Services Tax (GST) was implemented in the country with effect from 1 July 2017 to bring in one uniform tax across the country.

Commenting on the price reduction, Tata Motors - President, Passenger Vehicles Business Unit, Mayank Pareek said the GST rollout will enhance the ease of doing business and usher in a new era for the economy in general and especially, for the automotive industry.

Tata Motors passenger and commercial vehicles total sales fell 9% to 40,358 vehicles in June 2017 over June 2016. The announcement was made on 1 July 2017.

On a consolidated basis, net profit of Tata Motors declined 16.8% to Rs 4336.43 crore on 2.9% decline in net sales to Rs 77217.19 crore in Q4 March 2017 over Q4 March 2016.

Tata Motors is a leading global automobile manufacturer of cars, utility vehicles, buses, trucks and defence vehicles. The companys British luxury unit Jaguar Land Rover (JLR) sells premium luxury cars.

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ICICI Prudential gains on mulling to take over Sahara Life
Jul 05,2017

The announcement was made after market hours yesterday, 4 July 2017.

Meanwhile, the S&P BSE Sensex was up 22 points, or 0.07% to 31,231.79.

On the BSE, 1.90 lakh shares were traded in the counter so far, compared with average daily volumes of 1.19 lakh shares in the past one quarter. The stock had hit a high of Rs 501.25 and a low of Rs 490.55 so far during the day. The stock hit a record high of Rs 507.90 on 4 July 2017. The stock hit a record low of Rs 273.65 on 9 November 2016.

The stock had outperformed the market over the past one month till 4 July 2017, rising 20.44% compared with 0.32% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 23.08% as against Sensexs 4.12% rise.

The large-cap company has equity capital of Rs 1435.36 crore. Face value per share is Rs 10.

ICICI Prudential Life Insurance Company, Indias only listed life insurance company, has confirmed its interest in buying the beleaguered Sahara India Life Insurance Companys insurance business. The company confirmed that it has expressed its interest to evaluate taking over policyholders liabilities and assets of Sahara Life. The last reported policyholders liabilities of Sahara Life is about Rs 900 crore, which is less than 1% of the companys balance sheet size.

On consolidated basis, net profit of ICICI Prudential Life Insurance Company declined 43.88% to Rs 238.40 crore on 122.32% rise in total income to Rs 14117.14 crore in Q4 March 2017 over Q4 March 2016.

ICICI Prudential Life Insurance Company is a private sector life insurer in India. ICICI Prudential is a joint venture between ICICI Bank and Prudential Corporation Holdings, a part of the Prudential Group, an international financial services group. The company offers a range of life insurance, health insurance and pension products and services.

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Intellect Design Arena drops on profit booking
Jul 05,2017

Meanwhile, the S&P BSE Sensex was down 15.16 points, or 0.05% at 31,194.63. The S&P BSE Small-Cap index was up 158.18 points, or 1.02% at 15,725.11.

On the BSE, 54,000 shares were traded on the counter so far as against the average daily volumes of 87,000 shares in the past two weeks. The stock had hit a high of Rs 132.85 and a low of Rs 128.55 so far during the day. The stock had hit a 52-week high of Rs 233 on 28 July 2016 and a 52-week low of Rs 107.75 on 15 February 2017.

Shares of Intellect Design Arena had rallied 9.26% in the preceding four trading sessions to settle at Rs 131.60 yesterday, 4 July 2017, from its close of Rs 120.45 on 28 June 2017.

Intellect Design Arena reported net loss of Rs 24.92 crore in Q4 March 2017, compared with net loss of Rs 21.15 crore in Q3 December 2016. Net income from operations rose 8.88% to Rs 135.99 crore in Q4 March 2017 over Q3 December 2016.

Intellect Design Arena is engaged in the business of software development, and providing software product license and related services.

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Bearings makers in spotlight
Jul 05,2017

Menon Bearings (up 19.97%), NRB Bearings (up 6.83%), SKF India (up 3.20%) and Fag Bearings India (up 0.88%), edged higher.

Timken India (up 13.46%) and ABC Bearings (up 20%). The board of Timken India on 4 July 2017, approved the amalgamation of ABC Bearings with the company. The announcement was made after market hours yesterday, 4 July 2017.

As per the proposed scheme, Timken India will issue 5 equity shares for every 8 equity shares held in ABC Bearings. The transaction is expected to close in the quarter ended 31 March 2018, subject to the receipt of all approvals.

The scheme is subject to the approval of the shareholders and creditors of ABC Bearings, approval of the regulatory authorities and the sanction of the National Company Law Tribunal.

The amalgamation will help both the firms to achieve larger product portfolio, access new domestic and export markets, increase market share, economies of scale, efficiency, and other related economies. The scheme intends to merge the operations of ABC Bearings with that of Timken India to fulfill this objective.

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Indian service sector ends Q1 with strong expansion: Nikkei India Services PMI
Jul 05,2017

Business conditions in Indias service sector continued to improve in June as a solid and accelerated upturn in new work resulted in a faster increase in activity. Moreover, job creation was maintained at Mays 47-month record pace. Meanwhile, inflationary pressures gathered speed, with both input costs and output charges rising at quicker rates.

Up from 52.2 in May to an eight-month high of 53.1 in June, the seasonally adjusted Nikkei India Services PMI Business Activity Index signalled a solid and accelerated upturn in output across the sector. Additionally, the headline measure averaged 51.8 for the first quarter of the 2017 financial year, the highest quarterly figure since Q2 (FY) 2016.

In contrast to the trend for services, manufacturing lost growth momentum in June, with the upturn in production moderating for the third month in a row to the weakest since February. Across the private sector as a whole, however, the upward trend in the rate of expansion for activity was sustained. The seasonally adjusted Nikkei India Composite PMI Output Index rose from 52.5 in May to an eight-month high of 52.7.

Boosting growth of services activity in June was a solid and stronger upswing in inflows of new business. According to survey participants, improved demand conditions and marketing efforts enabled them to secure new work. Factory orders also rose, but to the least extent in four months.

Greater workplace activity encouraged some services companies to recruit more staff. Employment across the sector as whole rose modestly, but at a rate that equalled Mays near four-year peak. By comparison, manufacturing jobs increased fractionally.

Amid reports of higher prices paid for food and fuel, average cost burdens at services firms increased further in June. The rate of inflation picked up to a three-month high, but remained below its long-run average and was only slight. Concurrently, purchase costs faced by manufacturers rose at the slowest rate since last August.

Service providers signalled higher selling prices (on average) in June. The rate of charge inflation was the joint-quickest in one year, on par with that seen in February, though marginal overall. In many cases, survey members reported the pass through of greater cost burdens to clients. Factory gate charges were also raised at a quicker, though marginal, pace.

Reflecting difficulties in obtaining payments from clients, outstanding business at service providers continued to rise. Nevertheless, the rate of backlog accumulation softened to the slowest in the current 13-month sequence of expansion. A weaker increase in work-in-progress was similarly noted at goods producers.

Output is expected by services firms to remain on an upward trajectory in the coming 12 months. Optimism was attributed by panellists to better market conditions, the introduction of the goods & services tax and promotional activities. However, the level of positive sentiment fell to a four-month low. Likewise, confidence among manufacturers dipped in the current reporting period.

Commenting on the Indian Services PMI survey data, Pollyanna De Lima, economist at IHS Markit, and author of the report said, Junes results for services sounded a more upbeat tone than those from its sister PMI survey, which showed a slowdown in manufacturing. Growth of service sector activity and inflows of new business picked up as better demand conditions and marketing efforts bore fruit.

With services being the prevalent sector in India, the fainter rise in manufacturing was more than offset and growth of private sector output climbed to an eight-month peak. Whats more, Junes figure contributed to the highest quarterly average for the composite PMI (52.2) since Q2 (FY) 2016. This suggests that GDP growth is likely to rebound from the sharp slowdown noted in the first three months of 2017.

Nonetheless, the falls in confidence levels highlight no easy walk to stronger economic prosperity. Optimism weakened at goods producers and service providers alike, hampered by concerns among some firms that the goods & services tax could harm consumer demand, with competitive pressures also seen as a threat to the outlook.

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Oracle Financial Services Software to hold board meeting
Jul 05,2017

Oracle Financial Services Software will hold a meeting of the Board of Directors of the Company on 19 July 2017 to consider allotment of shares to the eligible employees who have chosen to exercise their options under prevailing Employees Stock Option Schemes of the Company

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Hatsun Agro Product to hold board meeting
Jul 05,2017

Hatsun Agro Product will hold a meeting of the Board of Directors of the Company on 13 July 2017 Consider and approve the Un-audited Financial Results of the Company for the Quarter ended 30th June, 2017, The proposal for declaration of Interim Dividend for the financial year 2017-18

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Kirloskar Industries to hold AGM
Jul 05,2017

Kirloskar Industries announced that the th Annual General Meeting(AGM) of the company on 3 August 2017.

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Volumes jump at Wim Plast counter
Jul 05,2017

Wim Plast clocked volume of 4.10 lakh shares by 14:22 IST on BSE, a 119.43-times surge over two-week average daily volume of 3,000 shares. The stock shed 0.24% to Rs 1,577.95.

NRB Bearings notched up volume of 3.88 lakh shares, a 60.94-fold surge over two-week average daily volume of 6,000 shares. The stock surged 6.83% to Rs 143.10.

Timken India saw volume of 1.07 lakh shares, a 17.11-fold surge over two-week average daily volume of 6,000 shares. The stock jumped 13.88% to Rs 769.75.

Speciality Restaurants clocked volume of 7.87 lakh shares, a 15.72-fold surge over two-week average daily volume of 50,000 shares. The stock spurted 9.83% to Rs 113.40.

Astral Poly Technik saw volume of 1.01 lakh shares, a 15.01-fold rise over two-week average daily volume of 7,000 shares. The stock rose 0.31% to Rs 683.

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Lupin in pink of health after launching generic solution
Jul 05,2017

The announcement was made during market hours today, 5 July 2017.

Meanwhile, the S&P BSE Sensex was down 15.90 points or 0.05% at 31,193.89

On the BSE, 1.82 lakh shares were traded on the counter so far as against the average daily volumes of 1.21 lakh shares in the past one quarter. The stock had hit a high of Rs 1,095.50 and a low of Rs 1,036.80 so far during the day. The stock had hit a 52-week high of Rs 1,750 on 29 July 2016 and a 52-week low of Rs 1,040.30 on 4 July 2017.

The stock had underperformed the market over the past one month till 4 July 2017, falling 9.87% compared with 0.32% decline in the Sensex. The scrip also underperformed the market in past one quarter, sliding 28.13% as against Sensexs 4.12% rise. The scrip had also underperformed the market in past one year, declining 33.06% as against Sensexs 14.88% rise.

The large-cap company has equity capital of Rs 90.34 crore. Face value per share is Rs 2.

Lupin announced the launch of its Moxifloxacin Hydrochloride Opthalmic Solution USP, 0.5% (base) having received an approval from the United States Food & Drug Administration (USFDA) earlier. The companys Moxifloxacin Hydrochloride Ophthalmic solution USP, 0.5% (base), is an AT1 rated generic equivalent of Novartis Pharma Corps Vigamox Ophthalmic solution.

The medicine is indicated for the treatment of bacterial conjunctivitis caused by susceptible strains of the organisms. Vigamox Ophthalmic solution had US sales of $267.9 million in US as per IMS MAT March 2017.

On consolidated basis, Lupins net profit fell 49.2% to Rs 380.21 crore on 1.3% growth in net sales to Rs 4161.88 crore in Q4 March 2017 over Q4 March 2016.

Lupin is a transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally.

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