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Board of Chambal Fertilisers & Chemicals approves sale of ship - Ratna Shalini
May 02,2017

Chambal Fertilisers & Chemicals announced that the Board of Directors of the Company at its meeting held on 02 May 2017 has approved the sale and disposal of one of the ships of the Company viz. Ratna Shalini for a consideration of USD 24.5 million to Rialto Navigation S.A., Liberia. The book value of the ship- Ratna Shalini was Rs. 194.04 crore as on 31 March 2017. The sale of aforesaid ship is expected to be completed by 15 July 2017. The Buyer does not belong to the promoter/ promoter group/ group companies and the said transaction is not a related party transaction.

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Ashok Leyland in reverse gear after declaring weak sales in April
May 02,2017

The announcement was made during trading hours today, 2 May 2017.

Meanwhile, the S&P BSE Sensex was up 20.91 points, or 0.07%, to 29,939.31.

On BSE, so far 10.71 lakh shares were traded in the counter, compared with average daily volume of 12.70 lakh shares in the past one quarter. The stock hit a high of Rs 86 and a low of Rs 83 so far during the day. The stock hit a 52-week high of Rs 111.65 on 1 June 2016. The stock hit a 52-week low of Rs 73.60 on 22 November 2016.

The large-cap company has equity capital of Rs 284.59 crore. Face value per share is Re 1.

Ashok Leylands sales of light commercial vehicles (LCV) rose 11% to 2,558 units in April 2017 over April 2016. Sales of medium & heavy commercial vehicles (M&HCV) dropped 43% to 4,525 units in April 2017 over April 2016.

Ashok Leylands net profit fell 13.02% to Rs 185.88 crore on 7.59% rise in net sales to Rs 4335.15 crore in Q3 December 2016 over Q3 December 2015.

Ashok Leyland is one of the leading manufacturers of medium and heavy commercial vehicles in India.

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Fortune Financial Services (India) acquires stake in IRC Credit Management Services
May 02,2017

Fortune Financial Services (India) has entered in to share purchase agreement with the shareholders of IRC Credit Management Services for acquisition of 10,000 equity shares of Rs. 10 each fully paid aggregating to Rs. 1.00 lakh.

Consequent to entering in to the above agreement, the Company has acquired 10,000 equity shares of Rs. 10 each fully paid aggregating to Rs. 1.00 lakh of IRC Credit Management Services on 28 April 2017.

In view of acquisition of these equity shares, IRC Credit Management Services has become the wholly owned subsidiary of the company effective from 28 April 2017.

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Manjeera Constructions announces change in registered office
May 02,2017

Manjeera Constructions announced that the Companys registered office has shifted from #304, Aditya Trade Centre, Ameerpet, Hyderabad-500016 to #710 &711, Manjeera Trinity Corporate , Beside Manjeera Mall, JNTU-Hitech City Road, Kuakatpally, Hydearbad, Telangana-500072.

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Mahindra & Mahindra announces sales performance
May 02,2017

Mahindra & Mahindra announced that its total sales stood at 39,357 units in April 2017 compared to 41,863 units in April 2016, registering a decline of 6%.

Total sales include domestic sales of 37,829 units and exports of 1528 units, declining 4% and 39% respectively over corresponding month of previous year.

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Agio Paper & Industries reports standalone net loss of Rs 0.37 crore in the March 2017 quarter
May 02,2017

Net Loss of Agio Paper & Industries reported to Rs 0.37 crore in the quarter ended March 2017 as against net loss of Rs 0.57 crore during the previous quarter ended March 2016. There were no Sales reported in the quarter ended March 2017 and during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 1.36 crore in the year ended March 2017 as against net loss of Rs 1.47 crore during the previous year ended March 2016. There were no Sales reported in the year ended March 2017 and during the previous year ended March 2016.

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DCM Shriram consolidated net profit rises 186.72% in the March 2017 quarter
May 02,2017

Net profit of DCM Shriram rose 186.72% to Rs 156.35 crore in the quarter ended March 2017 as against Rs 54.53 crore during the previous quarter ended March 2016. Sales rose 22.74% to Rs 1603.66 crore in the quarter ended March 2017 as against Rs 1306.57 crore during the previous quarter ended March 2016.

For the full year,net profit rose 82.83% to Rs 551.68 crore in the year ended March 2017 as against Rs 301.75 crore during the previous year ended March 2016. Sales rose 0.41% to Rs 5757.67 crore in the year ended March 2017 as against Rs 5734.16 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales1603.661306.57 23 5757.675734.16 0 OPM %13.879.57 -13.398.81 - PBDT214.77114.84 87 746.43460.23 62 PBT182.6391.79 99 632.70362.28 75 NP156.3554.53 187 551.68301.75 83

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Bharat Financial Inclusion reports standalone net loss of Rs 234.92 crore in the March 2017 quarter
May 02,2017

Net loss of Bharat Financial Inclusion reported to Rs 234.92 crore in the quarter ended March 2017 as against net profit of Rs 84.47 crore during the previous quarter ended March 2016. Sales rose 11.55% to Rs 367.84 crore in the quarter ended March 2017 as against Rs 329.76 crore during the previous quarter ended March 2016.

For the full year,net profit declined 4.39% to Rs 289.69 crore in the year ended March 2017 as against Rs 302.98 crore during the previous year ended March 2016. Sales rose 32.84% to Rs 1553.08 crore in the year ended March 2017 as against Rs 1169.13 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales367.84329.76 12 1553.081169.13 33 OPM %-29.2862.63 -42.0662.89 - PBDT-230.80112.98 PL 205.61402.25 -49 PBT-234.92110.16 PL 192.84393.89 -51 NP-234.9284.47 PL 289.69302.98 -4

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3i Infotech reports standalone net profit of Rs 5.72 crore in the March 2017 quarter
May 02,2017

Net profit of 3i Infotech reported to Rs 5.72 crore in the quarter ended March 2017 as against net loss of Rs 314.71 crore during the previous quarter ended March 2016. Sales declined 24.34% to Rs 66.99 crore in the quarter ended March 2017 as against Rs 88.54 crore during the previous quarter ended March 2016.

For the full year,net profit reported to Rs 92.26 crore in the year ended March 2017 as against net loss of Rs 539.70 crore during the previous year ended March 2016. Sales declined 19.13% to Rs 279.07 crore in the year ended March 2017 as against Rs 345.09 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales66.9988.54 -24 279.07345.09 -19 OPM %14.2454.28 -42.9518.68 - PBDT6.0661.27 -90 98.40-14.92 LP PBT4.356.27 -31 91.09-225.54 LP NP5.72-314.71 LP 92.26-539.70 LP

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Welcure Drugs & Pharmaceuticals standalone net profit declines 87.50% in the March 2017 quarter
May 02,2017

Net profit of Welcure Drugs & Pharmaceuticals declined 87.50% to Rs 0.01 crore in the quarter ended March 2017 as against Rs 0.08 crore during the previous quarter ended March 2016. There were no Sales reported in the quarter ended March 2017 and during the previous quarter ended March 2016.

For the full year,net profit declined 66.67% to Rs 0.03 crore in the year ended March 2017 as against Rs 0.09 crore during the previous year ended March 2016. There were no Sales reported in the year ended March 2017 and during the previous year ended March 2016.

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Devise back up minimum income schemes for those losing jobs due to automation: ASSOCHAM-PwC Paper
May 02,2017

With the Indian IT and other industries facing some of the daunting challenges from protectionism in the US and Artificial Intelligence (AI), an ASSOCHAM-PwC study has made out a strong case for government -industry schemes which ensure a minimum income to those displaced , along with basic health facilities for the families in stress.

It said there are concerns in a number of industries related to loss of jobs, arising out AI and robotics and the solution lies in facing the issue upfront and skilling up the country`s human resource.

n++In light of technology advances, certain sectors are expected to experience shrinkage of employment demand as robotic systems and algorithms take up several tasks. It can be expected that IT, manufacturing, agriculture, forestry etc will experience such a demand shift,n++ the study noted.

Quoting Oxford University researchers Carl Frety and Michael Osborne, based on 702 occupational groupings, workers in tele-marketing, hand sewers, mathematical technicians, insurance underwriters, watch repairers, cargo agents, tax preparers have a very high probability of being replaced by automation.

The ASSOCHAM-PwC Paper suggested that even though the churn arising out of automation would throw new opportunities, certain basic cushion must be given to those who may get affected by the AI and robotics and other automation technologies.

The paper made a strong case for universal benefits outside employment structures. n++If a large number of people end up unemployed for extended periods of time, there needs to be a way to provide healthcare, disability and pension benefits outside employmentn++.

It also sought a minimum income to sustain households. n++In the event of continuous unemployment or under-employment, government schemes to provide a minimum level of income to each citizen to guarantee basic needs are necessary to keep them out of destitution. Proposals must be structured in a way so as to maintain a balance between benefits and incentives for engagement - for example by involving the unemployed in social and community initiativesn++.

The ASSOCHAM-PwC Paper said the traditional academic curriculum is not well equipped to cater to technological advancements. n++The sequential system of education and work is outdated in an economic environment that is heavy on automation and deskilling of jobs and where skills gain and lose value within a few years. What is required is a continuous skill improvement system that does not depend on the sequence of the skills imparted to young mindsn++.

It sought creation of separate funds by the companies for skill re-training of employees. n++Companies can contribute a set amount to an individual`s fund which can then be transferred as the individual switches jobs. The goal of such an initiative will be o incentivize lifelong education and up-skillingn++.

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Bharat Heavy Electricals announces cessation of director
May 02,2017

Bharat Heavy Electricals announced that Harinder Hira on completion of her tenure on 01 May 2017 has ceased to be Part-time Non-official (Independent) Director on the Board of BHEL.

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Escorts in top gear after declaring strong tractor sales in April
May 02,2017

The announcement was made on Monday, 1 May 2017, when domestic stock markets remained closed, for a local holiday.

Meanwhile, the BSE Sensex was down 59.02 points, or 0.2%, to 29,859.38. The BSE Mid-Cap index was down 11.15 points, or 0.08%, to 14,787.30

On the BSE, 2.44 lakh shares were traded on the counter so far as against the average daily volumes of 2.73 lakh shares in the past one quarter. The stock hit a high of Rs 569.70 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 553.35 so far during the day. The stock hit a 52-week low of Rs 163 on 5 May 2016.

The mid-cap company has equity capital of Rs 122.58 crore. Face value per share is Rs 10.

Escorts said agri machinery segment (EAM) reported 20% growth in total tractor sales to 4,899 units in April 2017 over April 2016. Domestic tractor sales rose 18% to 4,760 units in April 2017 over April 2016. Exports rose 266% to 139 units in April 2017 over April 2016.

Net profit of Escorts rose 11.21% to Rs 22.71 crore on 22.8% rise in net sales to Rs 1089.91 crore in Q3 December 2016 over Q3 December 2015.

Escorts is one of Indias leading engineering conglomerates. The company has diversified business in to three different segments: Escorts Agri Machinery, Escorts Construction Equipment and Railway Equipment Division.

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EESL collaborates with NITI Aayog for energy efficiency
May 02,2017

Energy Efficiency Services Limited (EESL) collaborated with NITI Aayog to retrofit LED lights, energy efficient ACs, Ceiling fans, Energy saver ACs, energy efficient Water Pumps and also installed chiller system in the NITI Aayog premises. This has resulted in an annual energy savings of 11.4 lakh kVAh, an annual monetary savings of Rs 1.02 crore and led to an annual CO2 reduction of 966 tons.

The total cost of the project is Rs 2.67 crore. EESL has retrofitted 3061 LED lighting, 591 energy efficient fans, 415 energy efficient air conditioners and installed 2 energy efficient chillers. Additionally, other energy efficient appliances such as energy efficient water pumps, APFC control and CEMS (Central Energy Management Systems), which tracks the buildings energy consumption has also been installed. With these interventions, BEE has certified NITI Aayog building with 5-star rating with Energy Performance Index of 72 (kWh/Sqm/annum).

NITI Aayog initiated the energy efficiency interventions in March 2014 in consultation with EESL. EESL analysed the connected load of NITI Aayog building and based on the highest components of energy utilization, target areas for interventions were identified. Additionally, monitoring and verification of the interventions was also carried out through physical verification of the replaced energy systems with wattage and operating hours by EESL.

The retrofitting and installation is executed in two phases with different models of implementation process.

Phase-I was done through PMC (Project Management Consultancy) mode in which entire capital cost was paid upfront by NITI Aayog and entire savings arising out of lower electricity bills accrue to NITI Aayog.

The chiller systems which is already installed in NITI Aayog under Phase-II, where EESL has implemented the project in ESCO shared saving model through collaboration with CPWD (Central Public Works Department). Under ESCO model, the upfront capital cost is borne by EESL and the resultant savings from projects are been used to repay for EESL investments on deemed basis.

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18 lakh Sample Survey reveals cities turned much cleaner in last one year
May 02,2017

The largest ever Sample Survey of over 18 lakh citizens has revealed that sanitation in cities and towns of the country has substantially improved during the last one year, confirming that the Swachh Bharat buzz is making a difference on ground with people clearly perceiving a change for the better.

Results of the Swachh Survekshan-2017 have confirmed that the efforts being made under Swachh Bharat Mission have made a positive impact on cleanliness situation in urban areas.

In the Survey commissioned by the Ministry of Urban Development during January - February this year, over 18 lakh citizens responded to a set of six questions giving their perception of sanitation situation in cities and towns. Besides, 421 assessors of Quality Council of India have physically inspected 17,500 locations in 434 cities and towns. 2,680 residential locations, 2,680 commercial locations and 2,582 commercial and public toilets were inspected in these cities and towns for on the spot third party assessment of ground level assessment of sanitation.

Minister of Urban Development Shri M.Venkaiah Naidu who discussed the findings of the Survey with the ministry officials and the surveyors in detail tweeted today saying : n++Survey results are very encouraging. Revealed major improvement in cleanliness in last one year. Swachh Bharat buzz is reflecting on ground. Swachh Rankings of 434 cities and towns will be announced on Thursday this week. More than rankings, citizens perception and field reports are more exciting.n++

A total of over 37 lakh citizens responded with their feedback under the two month long Survey. After a careful verification of the responses and deletion of multiple responses, Quality Council of India that conducted the Survey have taken in to consideration over 18 lakh responses. The findings of the Swachh Survekshan-2017 are:

-Over 83% of respondents reported their areas much cleaner than last year;

-82% reported improvement in sanitation infrastructure and services like increased availability of litter bins and door-to-door collection of solid waste;

-80% respondents proclaimed much better access to community and public toilets;

-75% residential areas in 404 cities and towns found substantially clean;

-Railway Station surroundings entirely clean in 185 cities;

-75% of Community and Public Toilets found ventilated, well lit and had water supply;

-Door-to-Door collection of waste being done in 80% of wards in 297 cities and towns;

-Sweeping being done twice in 75% of notified commercial areas in 226 cities and towns;

-GPS and RFID based tracking of vehicles transporting solid waste is being done in 166 cities and towns;

-Sanitation staff vacancy reduced to less than 10% in 227 cities and towns; and

-ICT based monitoring of attendance is being done in 158 cities.

The Survey brought out the need for making the Community and Public Toilets more gender, child and differently abled friendly.

The Questionnaire used for citizen feedback had the following components:

1. Are you aware of Swachh Survekshan-2017 and would like to respond on sanitation in your city/town?

Options: Yes/No

2.Do you find your area cleaner than last year ?

Options: Yes, very clean; Better than last year; Status quo; Worse than last year

3. Has the availability of dust/litter bins in market places improved?

Options: Yes, very much; Slightly improved; Not much change; Worse than last year.

4. How is the door-to-door collection of solid waste from your house?

Options: Much better; Slightly better; No change; Worse than last year

5. Has the number of toilets/urinals increased ?

Options: Yes, very much; Slightly improved; Not much change; Not at all available

6. Has the maintenance of Community and Public Toilets improved?

Options: Yes, much better; Slightly better; Not much improvement; No change; Worse than last Year

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