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L&T Constructions signs contract for Nagpur Smart City
Oct 20,2016

L&T Constructions Smart World & Communications Business unit announced the signing of the formal contract with the Department of Information and Technology, Maharashtra Government, under which Nagpur will be converted into the countrys first large scale integrated Smart City.

The scope of work will cover laying of 1200 kms of optical fiber network backbone, creating 136 city Wi-Fi hotspots at key locations, establishing 100 digital kiosks and developing city surveillance systems with 3800 IP based cameras. Further, as an avant-garde endeavour, the city has identified a strip of approximately 6 km to be developed as a Smart Strip with smart ICT interventions and IOT solutions like smart lighting, smart transport, smart parking, smart bins etc.

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ASM Technologies fixes record date for interim dividend
Oct 20,2016

ASM Technologies has fixed 28 October 2016 as the Record Date for the purpose of Payment of Interim Dividend.

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Page Industries fixes record date for 2nd interim dividend
Oct 20,2016

Page Industries has fixed 19 November 2016 as the (Revised) Record Date for the purpose of Payment of Second Interim Dividend.

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Suzlon Energy gains after entering into joint ventures for solar projects
Oct 20,2016

The announcement was made after market hours yesterday, 19 October 2016.

Meanwhile, the S&P BSE Sensex was up 170.29 points or 0.61% at 28,154.66.

On BSE, so far 33.69 lakh shares were traded in the counter as against average daily volume of 37.9 lakh shares in the past one quarter. The stock hit a high of Rs 15.35 and a low of Rs 15 so far during the day. The stock had hit a 52-week high of Rs 25.25 on 2 November 2015. The stock had hit a 52-week low of Rs 12.80 on 12 February 2016. The stock had underperformed the market over the past one month till 19 October 2016, falling 8.36% compared with 2.27% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 17.32% as against Sensexs 0.71% rise.

The mid-cap company has equity capital of Rs 1004.88 crore. Face value per share is Rs 2.

Suzlon Group announced a joint venture with the Unisun Energy Group for the development and construction of a 15 megawatts (MW) Solar PV Project located at Bhainsa, Adilabad District, Telangana.

According to the contract signed between Suzlon Group and the Unisun Energy Group on 22 August 2016, the Unisun Energy Group shall acquire a 49% stake in Vayudoot Solarfarms Limited, a special purpose vehicle (SPV) set-up by Suzlon for executing this project. The stake will be acquired for a cash consideration of Rs 13.46 crore. Unisun Energy has the option to acquire the balance of the 51% stake in the SPV in the future in accordance with the relevant rules and regulations. The off-taker of the Vayudoot project will be the Telangana State Northern Power Distribution Company Limited (TSNPDCL) for 25 years with a tariff of Rs 5.51 per kWh. Suzlon will be responsible for project commissioning and to provide comprehensive operation and maintenance services for a period of 25 years. The project is expected to be commissioned in the financial year 2017 (FY 2017).

Separately, Suzlon Group announced a joint venture with Canadian Solar, one of the worlds largest solar energy companies, for two solar projects of 15 MW each at the sites of Ramannapet and Kamareddy, Telangana. Canadian Solar shall acquire 49% stake in Avighna Solarfarms Limited and Amun Solarfarms Limited, the special purpose vehicles (SPVs) setup by Suzlon for executing these projects. The stake will be acquired for a combined cash consideration of Rs 26.42 crore.

Canadian Solar shall provide its top tier solar PV modules, arrange project financing and contribute its technology expertise to ensure the commissioning of these projects in the financial year 2017 (FY 2017). The offtaker of Ramannapet project will be Telangana Southern Power Distribution Company Limited and for Kamareddy project will be Telangana Northern Power Distribution Company Limited. Suzlon will be responsible for project commissioning and to provide comprehensive operation and maintenance services for a period of 25 years.

Suzlon won solar projects of 210 MW in Telangana through a competitive bidding process and the PPAs for the same were signed in February, 2016. These include one project of 100 MW, one of 50 MW and four projects of 15 MW each.

On a consolidated basis, Suzlon Energy reported net loss of Rs 259.97 crore in Q1 June 2016 compared with net profit of Rs 1014.34 crore in Q1 June 2015. Net sales declined 36.2% to Rs 1649.58 crore in Q1 June 2016 over Q1 June 2015.

The Suzlon Group is one of the leading renewable energy solutions providers in the world with an international presence across 19 countries. The company has recently forayed into the solar space.

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CEAT advances after announcing launch of puncture safe tyres
Oct 20,2016

The announcement was made after market hours yesterday, 19 October 2016.

Meanwhile, the S&P BSE Sensex, was currently up 194.60 points or 0.7% at 28,178.97

On BSE, so far 55,000 shares were traded in the counter, compared with average daily volume of 1.41 lakh shares in the past one quarter. The stock hit a high of Rs 1,311 and low of Rs 1,282.70 so far during the trading session. The stock had hit record high of Rs 1,422 on 6 October 2016. The stock had hit 52-week low of Rs 731.20 on 24 June 2016. The stock had outperformed the market over the past 30 days till 19 October 2016, rising 13.34% compared with 1.89% decline in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 46.6% as against Sensexs 0.99% rise.

The mid-cap company has equity capital of Rs 40.45 crore. Face value per share is Rs 10.

CEAT announced rollout of a new breed of Puncture Safe tyres for the two wheeler market. This new range will offer a technology to consumers that will allow tyres to resist punctures with no loss of air pressure and allow a hassle free and safe ride, CEAT said. This new range is currently available only in the states of Andhra Pradesh and Telangana and the company proposes to roll out the Puncture Safe tyre range in the other markets in a phased manner, the company said.

CEATs consolidated net profit fell 14.5% to Rs 104.06 crore on 4.04% increase in net sales to Rs 1460.92 crore in Q1 June 2016 over Q1 June 2015.

CEAT is one of Indias leading tyre manufacturers. The company sells its tyres under the CEAT brand.

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Bayer CropScience drops after declaring muted Q2 result
Oct 20,2016

The result was announced after market hours yesterday, 19 October 2016.

Meanwhile, the S&P BSE Sensex was up 189.31 points, or 0.68%, to 28,173.68

On BSE, so far 948 shares were traded in the counter, compared with an average volume of 4,553 shares in the past one quarter. The stock hit a high of Rs 4,521.45 and a low of Rs 4,377 so far during the day. The stock hit a record high of Rs 4,627 on 3 October 2016. The stock hit a 52-week low of Rs 3,115 on 12 February 2016. The stock had outperformed the market over the past 30 days till 19 October 2016, rising 10.19% compared with 1.89% decline in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 19.77% as against Sensexs 0.99% rise.

The large-cap company has an equity capital of Rs 35.35 crore. Face value per share is Rs 10.

Bayer CropScience has presence in seeds, crop protection and non-agricultural pest control. It is organized into operating units: crop protection, seeds and environmental science.

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Flat finish for US stocks
Oct 20,2016

US stocks ended the midweek affair on a flat note on Wednesday, 19 October 2016 as investors responded to a fresh batch of quarterly earnings reports and a rally in crude oil futures. The broader market inched higher at the start of the session as better-than-expected quarterly results from members of the energy and financial sectors helped boost risk appetite in the broader market.

The Dow Jones Industrial Average advanced 40.68 points, or 0.2%, to finish at 18,202.62 and the tech-heavy Nasdaq Composite Index rose 2.58 points to close at 5,246.41. S&P 500 index rose 4.69 points, or 0.2%, to close at 2,144.29.

Eight sectors ended in positive territory with energy, financials, materials and consumer discretionary leading the pack.

Among earning reports, Morgan Stanley climbed 1.9% after it reported a profit that beat analyst forecasts. The stock was the latest in a string of financials n++ including Goldman Sachs and J.P. Morgan Chase, that topped consensus expectations and boosted equities.

Intel was the worst performer in both the Dow and the S&P 500 after it reported a disappointing revenue outlook, even as its third-quarter earnings rose almost 9%. The stock slumped 5.9%.

A reading of economic conditions, known as the Federal Reserves beige book, showed that parts of the U.S. economy grew at a moderate pace. The anecdotal account of economic conditions at the Feds districts was released half an hour after gold futures settled. Metals were little-changed after the report.

Data released early Wednesday showed that U.S. housing starts ran at an annual 1.047 million pace in September. That was 9% lower than in August. The downbeat economic data could dull prospects for an interest-rate increase by the Federal Reserve before the year is up. Separately, the MBA Mortgage Index indicated that mortgage applications rose 0.6% in the week ending October 15. This followed a 6.0% decrease in the prior week.

The next Fed meeting is Nov. 1-2, but expectations for a rate increase at that meeting, so close to the election, are slim. Those odds rise sharply, to around 60%, for a December hike, although investors continue to question how aggressive the Fed will need to be.

Bullion prices ended higher at Comex on Wednesday, 19 October 2016. Gold futures on Wednesday logged a third straight session, climbing to their best level in two weeks, as the U.S. dollar continued to trade off multimonth highs hit earlier this month on the back of a drop in monthly domestic housing starts.

December gold rose $7, or 0.6%, to settle at $1,269.90 an ounce. December silver climbed by 2.5 cents, or 0.1%, to $17.663 an ounce after tapping a low of $17.57.

Crude oil futures rallied on Wednesday, 19 October 2016 at Nymex with the U.S. benchmark settling at a roughly 15-month high after U.S. government data revealed a surprise drop in crude stockpilesn++the sixth decline in seven weeks. Prices got off to an upbeat start after an official from Saudi Arabia said crude producers who arent OPEC members have shown willingness to join the cartels effort to limit output.

November West Texas Intermediate crude which expires at Thursdays settlement, gained $1.31, or 2.6%, to settle at $51.60 a barrel on the New York Mercantile Exchange. December Brent crude rose 99 cents, or 1.9%, to $52.67 a barrel on Londons ICEFutures exchange, for its highest finish in over a week.

The U.S. Energy Information Administration early Wednesday reported that domestic crude supplies dropped by 5.2 million barrels in the week ended 14 October. Market had expected a 2.5 million-barrel climb. Among the products, gasoline supplies rose by 2.5 million barrels, while distillate stockpiles fell by 1.2 million barrels.

Treasuries finished on a flat note as yields finished little changed across the curve. The yield on the 2-yr note settled at 0.80% while the yield on the benchmark 10-yr note finished at 1.74%.

Todays trading volume fell below the average of 853 million as 798 million shares changed hands at the NYSE floor.

Thursdays economic data will include the 8:30 ET release of weekly initial claims (consensus 249k) and the Philadelphia Fed Survey for October (consensus 5.5). Separately, the September Existing Home Sales Report (consensus 5.30 million) and September Leading Indicators (consensus 0.2%) will be released at 10:00 ET.

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Tayo Rolls reports standalone net loss of Rs 24.38 crore in the September 2016 quarter
Oct 20,2016

Net Loss of Tayo Rolls reported to Rs 24.38 crore in the quarter ended September 2016 as against net loss of Rs 9.88 crore during the previous quarter ended September 2015. Sales declined 67.95% to Rs 12.86 crore in the quarter ended September 2016 as against Rs 40.12 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales12.8640.12 -68 OPM %-142.22-8.77 - PBDT-22.74-4.74 -380 PBT-24.38-9.88 -147 NP-24.38-9.88 -147

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Ready to start consultative process on private investment in railways: Rajen Gohain, MoS Railways
Oct 20,2016

Railway Ministry urges private sector to make investments in railway infrastructure, for which they are ready to offer an attractive and investment friendly environment particularly looking at investment partners in 400+ station building projects for high return on investment, said Mr Rajen Gohain, Minister of State for Railway at an ASSOCHAM event.

We have to move merely providing rail infrastructure to other support services such as technology up gradation, better logistic support and better passenger services in an integrated manner, said Mr Rajen Gohain, Minister of State for Railways, while inaugurating an ASSOCHAM conference on ASSOCHAM International Summit on Invest Rail .

n++Need of the hour in Indian Railways is the massive investment and new technology without which we cannot move to become a world class transporter. Thus, the plan is to increase investment to nearly one trillion rupees in the next decaden++, said Mr Rajen Gohain.

Thus, Rail is the right forum for investment that can address nearly all investments challenges such as ensuring reduced global warming, volatile fuel costs, having lower energy consumption, reducing urban congestion, having less land usage, servicing an aging population and making transportation accessible to all ages across all income brackets. In addition, rail has lower infrastructure renewal and maintenance cost which is often mentioned as 20 times lower per ton kilometre that other forms.

n++Investment in rail will thus help in the planets sustainable and environmental goals and help in meeting the greenhouse gas emission targets. In addition, rail offers a more stable and sustainable form of transportation. We, in Indian Railways, are thus trying to have a collaborative approach in bringing governments, local authorities, railways and other stakeholders on the same wave length for a more sustainable form of transport systemn++, mentioned Mr. Gohain.

Investing in rail stimulates the economy while reducing CO2 emissions and urban congestion. As many countries worldwide plan to step up their investments in rail over the next decade, we in Indian Railways can and must do more. While India has the worlds fourth largest rail network, it has been outstripped by /china, which now has more than six times as much track following an intensive expansion and modernisation of its network over the past two decades. We are thus also looking in using PPP more- or as articulated in the coming years. We aim to keep people at the centre of all our activities and investments in our journey, said Railway Minister.

Indian Railways has one of the biggest network in the world and is recognised as one of the largest organisation under single management. It is also an admitted fact that for the past couple of centuries, transportation has fuelled the worlds economy. In this context, for the countrys economic and environmental health, it is thus time to restore the balance between road, air and rail.

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Good Q2 result catapults RBL Bank to new high
Oct 20,2016

The result was announced after market hours yesterday, 19 October 2016.

Meanwhile, the S&P BSE Sensex was up 167.02 points or 0.6% at 28,151.39.

High volumes were witnessed on the counter. On BSE, so far 23.86 lakh shares were traded in the counter as against average daily volume of 2.47 lakh shares in the past one month. The stock hit a high of Rs 334.60 so far during the day, which is record high for the stock. The stock hit a low of Rs 317.15 so far during the day. The stock had hit a record low of Rs 273.70 on 31 August 2016. The stock had outperformed the market over the past one month till 19 October 2016, gaining 3.77% compared with 2.27% fall in the Sensex.

The large-cap bank has equity capital of Rs 369.81 crore. Face value per share is Rs 10.

RBL Banks gross non-performing assets (NPAs) stood at Rs 274.65 crore as on 30 September 2016 as against Rs 252.61 crore as on 30 June 2016 and Rs 161.61 crore as on 30 September 2015. The ratio of gross NPAs to gross advances stood at 1.1% as on 30 September 2016 as against 1.13% as on 30 June 2016 and 0.93% as on 30 September 2015.

The ratio of net NPAs to net advances stood at 0.55% as on 30 September 2016 as against 0.65% as on 30 June 2016 and 0.48% as on 30 September 2015. The banks provisions and contingencies (excluding tax provisions) rose 122.33% to Rs 49.58 crore in Q2 September 2016 over Q2 September 2015.

Net Interest Income (NII) rose 59.5% to Rs 302.94 crore in Q2 September 2016 over Q2 September 2015. Net interest margin (NIM) rose to 3.41% in Q2 September 2016 as against 2.99% in Q2 September 2015.

RBL Bank debuted on stock exchanges on 31 August 2016.

RBL Bank is professionally managed and has no identifiable promoter.

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Bullions shine
Oct 20,2016

Bullion prices ended higher at Comex on Wednesday, 19 October 2016. Gold futures on Wednesday logged a third straight session, climbing to their best level in two weeks, as the U.S. dollar continued to trade off multi month highs hit earlier this month on the back of a drop in monthly domestic housing starts.

December gold rose $7, or 0.6%, to settle at $1,269.90 an ounce. December silver climbed by 2.5 cents, or 0.1%, to $17.663 an ounce after tapping a low of $17.57.

A reading of economic conditions, known as the Federal Reserves beige book, showed that parts of the U.S. economy grew at a moderate pace. The anecdotal account of economic conditions at the Feds districts was released half an hour after gold futures settled. Metals were little-changed after the report.

Data released early Wednesday showed that U.S. housing starts ran at an annual 1.047 million pace in September. That was 9% lower than in August. The downbeat economic data could dull prospects for an interest-rate increase by the Federal Reserve before the year is up.

The next Fed meeting is Nov. 1-2, but expectations for a rate increase at that meeting, so close to the election, are slim. Those odds rise sharply, to around 60%, for a December hike, although investors continue to question how aggressive the Fed will need to be.

The dollar and gold tend to move inversely, as a firmer buck leaves dollar-priced gold less desirable to purchasers using another currency. On Wednesday, the ICE Dollar Index, a measure of the U.S. currency against six rivals, was nearly flat, trading about 0.2% lower week to date.

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Quess Corp gains on strong Q2 results, acquisitions
Oct 20,2016

The result was announced after market hours yesterday, 19 October 2016.

Meanwhile, the S&P BSE Sensex was up 205.61 points, or 0.73%, to 28,189.98.

On BSE, so far 37,142 shares were traded in the counter, compared with an average daily volume of 1.24 lakh shares in the past one quarter. The stock hit a high of Rs 625 and a low of Rs 609 so far during the day. The stock hit a record high of Rs 651.25 on 4 August 2016. The stock hit a record low of Rs 452.40 on 14 July 2016. The stock had outperformed the market over the past one month till 19 October 2016, gaining 9.71% compared with 2.27% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 20.5% as against Sensexs 0.71% rise.

The stock was listed on the bourses on 12 July 2016.

The mid-cap company has equity capital of Rs 126.75 crore. Face value per share is Rs 10.

Quess Corps earnings before interest, taxes, depreciation and amortization (EBITDA) margin increased to 5.4% in Q2 September 2016 from 5.3% in Q1 June 2016.

Separately, Quess Corp announced after market hours yesterday, 19 October 2016 that it has entered into a definitive agreement to acquire a 49% stake in Terrier Security Services (India) Private Limited for a consideration of Rs 72 crore, marking its entry into the manned guarding and security solutions business. With a track record of over 27 years, Terrier is among the leading providers of manned guarding services in India. In addition, Terrier also provides training services for security personnel and electronic security solutions to clients.

Terrier has a pan India footprint with presence across 14 states spanning 60 cities. The company has over 400 clients including marquee names in the information technology, engineering and automobile sectors and a deployed head count of over 16,000 guards as on 31 August, 2016. The company closed FY 2016 with revenue of Rs 220 crore and EBITDA margin of 5%. Closing of the transaction is subject to, inter-alia, fulfilment of certain conditions precedent set out in the agreement between the parties to the satisfaction of Quess, and statutory and regulatory approvals.

Separately, Quess Corp announced after market hours yesterday, 19 October 2016 that it has entered into a binding agreement of terms to acquire a majority stake in Comtel Solutions Pte. Ltd, marking Quess entry into the technology staffing domain in Singapore. Closing of the transaction is subject to, inter-alia, fulfilment of certain conditions precedent set out in the agreement, to the mutual satisfaction of both parties, and statutory and regulatory approvals. The transaction is expected to provide a significant boost to Quess operations in Asia Pacific where it already has presence in Malaysia, Philippines and Sri Lanka.

Comtel is one of Singapores largest independent staffing companies with services offered across staffing solutions, managed services solutions, and recruitment and search services with operations across Malaysia and Indonesia. Comtel serves more than 60 clients, including marquee names in BFSI, Engineering and IT sectors. The Company grew at a CAGR of about 27% between FY 2014 to 2016 and closed FY 2016 with revenues of SGD 82 million and currently has a headcount in excess of 1,400 associates.

Quess will initially acquire 64% in Comtel while the balance will be acquired in a phased manner over FY 2018 to FY 2020. Quess and the current Comtel management will work towards rapidly expanding the platform bringing together their respective expertise and local knowhow.

Separately, Quess Corp announced after market hours yesterday, 19 October 2016 that it has entered into a definitive agreement to acquire 45% stake in Simpliance Technologies Private Limited. Simpliance is a Bengalaru based compliance Technology firm. Simpliance will continue to be managed by the existing key management personnel headed by Anil D Souza. Quess will pay a consideration of Rs 2.5 crore as fresh equity for a 45% stake and the investment will be used to enhance the existing platform.

Quess Corp provides comprehensive solutions including recruitment, temporary staffing, technology staffing, IT products and solutions, skill development, payroll, compliance management, integrated facility management and industrial asset management services.

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MoU Signed between NICPR and All India Institute of Ayurveda for Cancer Prevention and Research
Oct 20,2016

An MoU was signed between the National Institute of Cancer Prevention and Research (NICPR), an autonomous institute under Department of Health Research, Ministry of Health & Family Welfare and All India Institute of Ayurveda (AIIA), an autonomous institute under the Ministry of AYUSH. The main objective of the MoU is to set up a Center of Integrative Oncology at NICPR-Noida as joint venture of Ministry of AYUSH and Department of Health Research, Ministry of Health & Family Welfare for collaboration in the areas of cancer prevention, research and Care.

The MoU was signed by Prof. Abhimanyu Kumar, Director- AIIA and Prof. Ravi Mehrotra, Director- NICPR. This MoU would pave the way to carry forward the ongoing bilateral dialogue and facilitate collaboration with National Cancer Institute, USA.

Setting up of this Centre is an outcome of the deliberations held in Indo-US Workshop where in the invited US delegates from Department of Health and Human Services (DHHS), National Institute of Health (NIH), National Cancer Institute (NIH) deliberated with the eminent experts from India having expertise in Cancer research and other promising areas for two days to share experiences and work out a road map for future collaborations.

Dr. Swaminathan while appreciating the initiative observed that the main aim should be to reduce the incidence of cancer for which preventive aspects with the strengths of AYUSH systems should be explored. She viewed that the collaborative research should aim at developing traditional medicine as adjuvant therapy to reduce the side effects of chemotherapy. She emphasized on collaborative studies both short term and long term involving institutions of repute at national and international level.

Shri Sharan appreciated the efforts and assured that funding would not be a constraint in carrying out the activities under the MoU. He outlined the five major action points as follows:-

n++ Awarding 10 new research fellowships every year - The process for the first batch will be completed by March, 2017.

n++ Minimum of five collaborative research projects will be supported in the financial year 2016-2017.

n++ Ministry would also develop few Centres of Excellence for cancer research and has identified the AIIA and the Rajaram Deo Anadilal Poddar Ayurveda Cancer Research Institute, Mumbai, a unit of Centre Council for Research in Ayurveda Sciences (CCRAS). This would be done by March, 2017.

n++ A Steering Committee and Scientific Advisory committee would be jointly constituted by the Ministry of AYUSH and the Department of Health Research, Ministry of Health & F.W by Dec, 2016

n++ International Conferences would be organised annually.

On this significant occasion, a Web portal on Network for AYUSH Cancer Care (NFACC) developed by the AIIA was also launched by Secretary, AYUSH. The portal would help to collect the national data of experts, scientists, practitioners, institutes, universities located across the country and engaged in cancer care & research. An online App of NFACC has also been developed. This app will be available on the website of various AYUSH institutions which will provide a hyperlink to the main Portal. In future, this portal will have collection of research papers related to Cancer care, information about the facilities available for Cancer care through AYUSH systems.

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Rudraksh Cap-Tech launches its new online portal
Oct 20,2016

Rudraksh Cap-Tech announced that the launch of its online portal www.indianstampghar.com for online sale of stamps and rate collectibles. The Company also announced that it will be getting the auction house license soon that will enable it to do auction in stamp coins and antiques.

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HCC Concessions commences toll operations for Farakka Raiganj Highways (NH-34)
Oct 20,2016

HCC Concessions commenced commercial operations of its Rs 1720 crore Farakka Raiganj Highways (NH-34) in Bengal. The project which has a concession period of 30 years, forms an integral part of HCCs Rs 4300 crore development of NH-34 across three contiguous stretches of over 256 km between Baharampore and Dalkhola (the first leg between Baharampore to Farakka has been operational since May 2014 with a current daily collection of Rs 40 lakh).

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