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Abbott India announces appointment of MD
Sep 29,2016

Abbott India announced that the Board at its Meeting held on 29 September 2016 approved the appointment of Ambati Venu as the Additional Director on the Board and as the Managing Director of the Company for a term of 5 (five) years effective 29 September 2016, subject to approval from the Central Government and the Shareholders of the Company.

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Duke Offshore provides business update
Sep 29,2016

Duke Offshore has secured a long term contract for its new high speed patrol/crew boat Duke Sprint.

Duke Sprint is a state of the art vessel recently imported from Singapore and will be on a full charter for a major multinational oil and gas company operating in India.

The contract will start with immediate effect.

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Wockhardt gains after UK MHRA completes inspection of Chikalthana plant
Sep 29,2016

The announcement was made during trading hours today, 29 September 2016.

Meanwhile, the BSE Sensex was up 58.98 points, or 0.21%, to 28,351.79.

On BSE, so far 5.92 lakh shares were traded in the counter, compared with average daily volume of 3.17 lakh shares in the past one quarter. The stock hit a high of Rs 945 and a low of Rs 903 so far during the day. The stock hit a 52-week high of Rs 1,748.20 on 2 December 2015. The stock hit a 52-week low of Rs 706.35 on 12 February 2016. The stock had outperformed the market over the past 30 days till 28 September 2016, rising 9.16% compared with 0.18% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 2.90% as against Sensexs 4.79% rise.

The large-cap company has equity capital of Rs 55.27 crore. Face value per share is Rs 5.

Wockhardt announced that inspection of the companys manufacturing unit at L-1, Chikalthana, Aurangabad, Maharashtra by UK Medicines and Healthcare products Regulatory Agency (MHRA) has since been completed without any critical observations and the approval status of the said unit continues.

On a consolidated basis, Wockhardts net profit slumped 82.65% to Rs 15.89 crore on 6.57% decline in net sales to Rs 1064.01 crore in Q1 June 2016 over Q1 June 2015.

Wockhardt is a research based and technology intensive global pharmaceutical and biotechnology company.

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IDFC to hold board meeting
Sep 29,2016

IDFC will hold a meeting of the Board of Directors of the Company on 28 October 2016 to discuss and approve, the Unaudited Financial Results (subjected to Limited Review by Auditors) for the quarter and half year ended September 30, 2016 (Q2).

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Satkar Finlease to hold board meeting
Sep 29,2016

Satkar Finlease will hold a meeting of the Board of Directors of the Company on 1 October 2016 Stock Split

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CEAT advances as Amansa Holding Pte hikes stake
Sep 29,2016

The company made the announcement after trading hours yesterday, 28 September 2016.

Meanwhile, the S&P BSE Sensex, was currently up 74.14 points or 0.26% at 28,366.95

On BSE, so far 2.03 lakh shares were traded in the counter, compared with average daily volume of 1.16 lakh shares in the past one quarter. The stock hit a high of Rs 1,310 and low of Rs 1,263.90 so far during the trading session. The stock had hit record high of Rs 1,318.30 on 7 October 2015. 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 28 September 2016, rising 38.48% compared with 0.18% rise in the Sensex. The scrip had outperformed the market in past one quarter, gaining 48.43% as against Sensexs 4.79% rise.

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

Amansa Holding Pte bought 4.75 lakh shares or 1.17% stake in CEAT through secondary market purchase. After the latest stake buy, Amansa Holding Ptes stake in CEAT rose to 5.19%.

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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Hindustan Copper declines as OFS for selling govts stake commences
Sep 29,2016

The announcement was made after market hours yesterday, 28 September 2016.

Meanwhile, the BSE Sensex was up 71.68 points, or 0.25%, to 28,364.49.

On BSE, so far 1.37 lakh shares were traded in the counter, compared with average daily volume of 1.76 lakh shares in the past one quarter. The stock hit a high of Rs 63.40 and a low of Rs 62.50 so far during the day. The stock hit a 52-week high of Rs 73.60 on 22 August 2016. The stock hit a 52-week low of Rs 42.30 on 19 February 2016. The stock had underperformed the market over the past 30 days till 28 September 2016, rising 0.15% compared with 0.18% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 22.72% as against Sensexs 4.79% rise.

The mid-cap company has equity capital of Rs 462.61 crore. Face value per share is Rs 5.

The government is offering a 7% stake in the company through a two-day offer for sale (OFS) beginning today, 29 September 2016. The government has set a floor price of Rs 62 per share, a 5.12% discount to the stocks Wednesdays closing share price of Rs 65.35 on BSE.

While the trading window is open for non-institutional investors today, 29 September 2016, retail investors can subscribe tomorrow, 30 September 2016. Retail investors will be allocated shares at a 5% discount to the cut-off price, the company said.

As at 11:15 IST, the OFS received bids for a total of 1.75 crore shares from non-retail investors as against 5.18 crore shares on offer for this category of investors.

The OFS, comprising 6.47 crore shares, will help the government raise Rs 401.54 crore. The governments stake will decline to 82.95% following the sale. The Government of India holds 89.95% stake in Hindustan Copper (as per shareholding pattern as on 30 June 2016).

Hindustan Copper reported net loss of Rs 2.88 crore in Q1 June 2016 as against net profit of Rs 20 crore in Q1 June 2015. Net sales declined 12.2% to Rs 205.99 crore in Q1 June 2016 over Q1 June 2015.

Hindustan Copper is a vertically integrated copper producing company encompassing mining, beneficiation, smelting, refining and casting of refined copper metal.

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Oriental Bank of Commerce plans to raise Rs 500 crore in Tier 1 Capital
Sep 29,2016

Oriental Bank of Commerce announced that the Bank intends to raise Tier 1 Capital through Private Placement of Basel III Compliant Additional Tier 1 Bonds of Rs. 10,00,000/- each at par aggregating to Rs. 500 crore. The proposed Bonds Issue has been rated as A+ by CARE Ratings and A+ (Hyb.) with Negative Outlook by ICRA.

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B Chemicals & Pharmaceuticals announces resignation of director
Sep 29,2016

J B Chemicals & Pharmaceuticals announced Jashvantrai Joshi, Independent Director of the Company, has resigned from the Board of Directors of the Company effective from 29 September 2016 due to his inability to devote necessary time to his duty as independent director of the Company.

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Marathon Nextgen Realty gains as shares begin trading on NSE
Sep 29,2016

Meanwhile, the S&P BSE Sensex was up 73.04 points, or 0.26% to 28,365.85

On BSE, so far 4,713 shares were traded in the counter as against an average daily volume of 10,383 shares in the past one quarter. The stock hit a high of Rs 279 and a low of Rs 262.35 so far during the day. The stock had hit a 52-week high of Rs 297 on 12 August 2016. The stock had hit 52-week low of Rs 107.10 on 30 September 2015. The stock had underperformed the market over the past 30 days till 28 September 2016, falling 4.87% compared with 0.18% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 20.86% as against Sensexs 4.79% rise.

The small-cap company has equity capital of Rs 28.44 crore. Face value per share is Rs 10.

Shares of Marathon Nextgen Realty had gained 10.06% to settle at Rs 263.65 yesterday, 28 September 2016 after the company said that shares of the company will be listed and admitted to dealings on the National Stock Exchange of India with effect from 29 September 2016. The announcement was made during market hours on 28 September 2016.

Marathon Nextgen Realtys consolidated net profit rose 60.11% to Rs 15.05 crore on 86.61% rise in total income to Rs 24.39 crore in Q1 June 2016 over Q1 June 2015.

Marathon Nextgen Realty is a Mumbai-based company engaged in real estate development business.

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Gateway Distriparks announces change in directorate
Sep 29,2016

Gateway Distriparks announced that the term of Independent Directors, Michael Philip Pinto and Saroosh Dinshaw expired on 28 September 2016 and they have not been reappointed.

Also, Arun Agarwal retired from the board of directors at the AGM on 22 September 2016.

After the above, currently, the members of the Board of Directors of the Company are Prem Kishan Dass Gupta, Chairman & Managing Director, Mamta Gupta, Ishaan Gupta, Shabbir Hassanbhai (Independent Director), Bhaskar Avula Reddy (Independent Director) and Arun Kumar Gupta (Independent Director).

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Shares of ICICI Prudential Life Insurance Company get listed
Sep 29,2016

The equity shares of ICICI Prudential Life Insurance Company (Scrip Code: 540133) are listed effective 29 September 2016 and admitted to dealings on the Exchange in the list of B Group Securities.

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ICICI Prudential Life Insurance Company slips on debut
Sep 29,2016

The stock debuted at Rs 329, a discount of 1.50% to the initial public offer (IPO) price. So far the stock hit a high of Rs 333.90 and low of Rs 315.65. On BSE, so far 39.79 lakh shares were traded on the counter.

ICICI Prudential Life Insurance Company had priced the IPO at the top end of the Rs 300 to Rs 334 price band. The bidding for the IPO concluded on 21 September 2016. The issue received bids for 138.77 crore shares and it was subscribed 10.48 times.

The IPO comprised sale of up to 18.13 crore equity shares of ICICI Prudential, representing about 12.63% of its equity share capital for cash, through an offer for sale (OFS) by ICICI Bank. The entire proceeds from the OFS was paid to ICICI Bank.

Ahead of the IPO, ICICI Prudential raised Rs 1635.33 crore by selling 4.89 crore shares to 38 anchor investors. The shares were allotted to the anchor investors at Rs 334 per share, the top end of the Rs 300 to Rs 334 per share price band for the IPO. Anchor investors allotted shares of ICICI Prudential included Morgan Stanley Mauritius Company, Government of Singapore, UTI Trustee Co, SBI Trustee Co, Birla Sun Life Trustee Company among others.

ICICI Prudential is the largest private sector life insurer in India by total premium and assets under management at 31 March 2016. 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 is one of the first private sector life insurance companies in India. It commenced operations in October 2000 and offers a range of life insurance, health insurance and pension products and services.

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Debt burden mounts as telecom operators get into price war: ASSOCHAM-KPMG study
Sep 29,2016

Even as the telecom industry finds itself in a tariff war with entry of a major player, an ASSOCHAM-KPMG paper has pointed towards the operators grappling with a huge debt burden of Rs 3.80 lakh crore, reinforcing a case for rationalisation of taxes and other levies along with spectrum charges.

The telecom operators have an accumulated debt of around INR3.8 lakh crore. An additional customs duty of 10 per cent will lead to an increase in cumulated duty to 29.44 per cent, reveals the joint study.

Even though consumers are having a last laugh with competitive offers from the major players , the service providers need to penetrate further into the fast expanding data market and create a volume that would make their cash flow running, ASSOCHAM Secretary General Mr D S Rawat said.

Simplification and rationalization of tax regime will provide required financial stability to Indian telecom industry. Presently, multiple charges and taxes are levied on the sector in addition to the charges paid by other industries (such as corporate tax, VAT, etc.). Spectrum Usage Charges (SUC) in India are comparatively higher than other economies, noted ASSOCHAM-KPMG joint study.

Telecom sector is expected to contribute 8.2 per cent or INR 14 lakh crore to the GDP by 2020 and one of the highest contributors to the GDP over the last decade, adds the study.

Industry expects that there is a no rationalisation of multiple levies imposed. TRAI has recommended that license fee should be reduced to 6 per cent and Universal Service Obligation Fund to 3 per cent from current levels of 8 per cent and 5 per cent respectively.

Further, as per a study cited by COAI, reduction in Spectrum Usage Charges (SUC) by 1 per cent can increase GDP by INR1.76 lakh crore, highlighted the study.

The Telecommunication Industry is committed to realize the government vision of Digital India. A quick resolution on issues, that will facilitate ease of doing business will accelerate the same. We are confident that the government which has set a fast pace of policy and execution will support this endeavour said Mr. P.Balaji Chairman, ASSOCHAM National council on Telecommunications & Director-Regulatory, External Affairs & CSR, Vodafone India.

Telecom industry, due to its dynamic nature, witnesses continuous changing business and technology environment. In the recent past, India has witnessed a surge in data usage. Mobile data traffic grew by 50 per cent in 2015. Such tremendous growth is associated with mature network, device and content eco-system. In the current environment, Telecom Service Providers (TSPs) and Overthe-Top (OTT) service providers have leveraged on their synergies to work towards fulfilling the Digital India vision.

OTT service providers are playing a significant role in driving data consumption and transforming consumer behaviour. A major contributor to the increased data traffic is the growing customer demand for video which is expected to experience a further boost with the advent of 4G services.

Telecom service providers make huge investments in deployment of networks as well as in acquisition of spectrum. However, electromagnetic interference issues faced result in poor quality of services to the subscribers, customer dissatisfaction, losses to the TSPs and the exchequer at large, in spite of the huge investments made.

Among the major sources of interference are air-waves from nearby international borders and out of band emissions by institutions deploying links in free WiFi band or from illegal repeaters, boosters, jammers.

Non-coordinated use of frequencies is the primary cause of interference from telecom service providers in neighboring countries. Usage of frequencies should be regionally coordinated and globally harmonised to overcome this issue. There is a need to engage actively with the neighboring countries for specific regions where the TSPs are facing interference issues. Alternatively, the DoT should allocate the TSPs with spectrum in alternate frequency bands, wherever such issues cannot be resolved with the neighboring countries, noted the study.

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Panacea Biotec gains after announcing shortage of Cilamin 250 Capsule
Sep 29,2016

The announcement was made after market hours yesterday, 28 September 2016.

Meanwhile, the BSE Sensex was up 100.83 points, or 0.36%, to 28,393.64.

On BSE, so far 25,000 shares were traded in the counter, compared with average daily volume of 18,653 shares in the past one quarter. The stock hit a high of Rs 124 and a low of Rs 118.25 so far during the day. The stock hit a 52-week high of Rs 171.20 on 4 December 2015. The stock hit a 52-week low of Rs 83.90 on 12 February 2016. The stock had outperformed the market over the past 30 days till 28 September 2016, rising 7.29% compared with 0.18% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 6.44% as against Sensexs 4.79% rise.

The small-cap company has equity capital of Rs 6.13 crore. Face value per share is Re 1.

Panacea Biotec said Cilamin 250 Capsule, used for treatment of Wilsons disease, Rheumatoid Arthritis and other conditions, witnessed short supply in the market during the last few months due to non-availability of raw material D-Penicillamine in India. Panacea Biotec said that its brand Cilamin 250 Capsules has been made available in limited quantities in the retail market. The temporary shortage is due to sudden disruption of supplies of raw material by qualified supplier beyond the control of the company. Since then company has been working tirelessly with alternate suppliers for supply of this raw material. Due to continuous efforts, the company has resumed limited production of Cilamin 250 and have released limited quantities in the market from 26 September 2016 from the companys manufacturing facility at Baddi under Good Manufacturing Practices.

The firm said it continues to work closely with existing and potential new raw material suppliers in China and India for access to the raw material in an accelerated manner. The company said it is in touch with Drug Controller General of India office for allowing imports of raw material in parallel to registration process under this emergency situation to ensure continuous access of this medicine to patients while other alternative sources in India are being also worked upon in an aggressive manner. As per current estimates, the company expects additional 2-4 weeks for access to additional quantities of raw material and additional 4 weeks for Cilamin 250 supplies to normalize.

Panacea Biotec said it is committed to do what all it takes to ensure continuous and sustainable access of good quality Cilamin 250 a critical lifesaving drug to patients.

Panacea Biotec reported net loss of Rs 19.67 crore in Q1 June 2016 as against net loss of Rs 36.90 crore in Q1 June 2015. Net sales declined 0.3% to Rs 120.40 crore in Q1 June 2016 over Q1 June 2015.

Panacea Biotec is one of Indias leading research based biotechnology company established research, manufacturing and marketing capabilities. Panacea Biotec is one of the largest vaccine producer in India and has been amongst the top 3 biotechnology companies and the top 50 pharmaceutical companies in India.

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