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Board of Enterprise International to consider 9M results
Jan 13,2017

Enterprise International announced that the meeting of the Board of Directors of the Company will be held on 30 January 2017, to approve and take on record, un-audited Financial Results (Provisional) for the Nine months ended on 31 December 2016.

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Lupin allots 50081 equity shares
Jan 13,2017

Lupin announced that the Allotment Committee of Directors at its meeting held on 13 January 2017 has allotted 50081 fully paid up equity shares of Rs. 2/- each. These shares have been allotted upon exercising of options granted to the employees under Stock option plans of the Company.

In view of the above, the issued and paid up capital of the Company has been increased to Rs. 90,29,71,582 consisting 45,14,85,791 equity shares of Rs. 2/- each.

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Hero MotoCorp enters Argentina with the global launch of New Glamour
Jan 13,2017

Hero MotoCorp unveiled the 125 cc motorcycle, New Glamour - its first ever Global Launch of a new product outside of India. This global launch of the New Glamour coincides with the commencement of Heros operations in Argentina, its 35th market in a rapidly growing global footprint. Hero MotoCorp has appointed Marwen SA as its distributor in Argentina. For the local market in Argentina, the Company has rolled out four products from its wide portfolio in the first phase - Hunk, Hunk Sports, Ignitor and the scooter - Dash.

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Board of Naina Semiconductor to consider December quarter results
Jan 13,2017

Naina Semiconductor announced that the meeting of Board of Director of the company will be held on 31 January 2017, to adopt the quarterly unaudited financial results ended 31 December 2016.

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Shares of Capital Trust get listed on NSE
Jan 13,2017

Capital Trust announced that 16361415 equity share of the Company Capital Trust have been listed as National Stock Exchange and the trading will start from 16 January 2017.

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Karur Vysya Bank to announce December quarter results
Jan 13,2017

Karur Vysya Bank announced that the Board of Directors of the Bank will meet on 25 January 2017, inter alia, to consider the Un-audited Financial Results of the Bank for the quarter ended 31 December 2016.

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Force Motors drops after issuing commercial papers
Jan 13,2017

The announcement was made after market hours yesterday, 12 January 2017.

Meanwhile, the S&P BSE Sensex was down 47.74 points or 0.18% at 27,199.42

On the BSE, 26,000 shares were traded on the counter so far as against the average daily volumes of 1.48 lakh shares in the past one quarter. The stock had hit a high of Rs 4,444 and a low of Rs 4,360 so far during the day.

The stock had hit a record high of Rs 4,839 on 27 October 2016. The stock had hit a 52-week low of Rs 2,180 on 29 February 2016. The stock had outperformed the market over the past 30 days till 12 January 2017, rising 13.26% compared with Sensexs 2.42% rise. The scrip had also outperformed the market in past one quarter, rising 1.52% as against Sensexs 1.54% fall.

The mid-cap company has equity capital of Rs 13.18 crore. Face value per share is Rs 10.

Force Motors net profit rose 17.72% to Rs 50.28 crore on 12.2% growth in net sales to Rs 841.89 crore in Q2 September 2016 over Q2 September 2015.

Force Motors is a fully, vertically integrated automobile company, with expertise in design, development and manufacture of the full spectrum of automotive components, aggregates and vehicles.

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Deep Industries gets revision in credit ratings for bank facilities
Jan 13,2017

Deep Industries has received revision in credit ratings from CARE Ratings as under -

Long term bank facility - CARE A (Revised from CARE A-)
Short term bank facilities - CARE A1 (Revised from CARE A2+)
Long term/ short term facilities - CARE A/ CARE A1 (Revised from CARE A-/ CARE A2+)

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Create 11 lakhs new jobs in five years to reinvigorate Punjab economy: ASSOCHAM
Jan 13,2017

Punjab holds significant potential to create over 11 lakhs additional jobs from the current workforce of about 18.5 lakhs between the age of 15-30 years to attract more investments and attain double digit growth during the course of next five years, apex industry body ASSOCHAM said today.

The Associated Chambers of Commerce and Industry of India (ASSOCHAM) Special Task Force on Punjab has formulated a n++Sustainable Action Plann++ to achieve double digit growth on a sustainable basis to help the state to become one of the front ranking states in the country.

According to the paper, about 18.5 lakhs people are already a part of the workforce between the age group of 15-30 years. The current level of workforce participation rate stands at 35.7 percent and to achieve a similar rate an additional 11 lakhs jobs will need to be created in the next five years. The effective implementation of the investment projects holds key to growth of industry sector that will in turn help in creating lakhs of fresh job opportunities for 35.7 per cent of youth population that forms the workforce in the state.n++

As on 2015-16, the state has attracted Rs. 1.98 lakh crore outstanding investments and recorded a sharp deceleration over the years. The states outstanding investment growth rate has declined from the peak level of 91.0 percent in 2007-08 to -10.5 percent in 2015-16. ASSOCHAM suggest that the newly formed government must look at this on priority basis which will help accelerate investment activities in the state as well as encourage private sector to invest in the state.

n++The state has potential for agriculture and allied sector but the sector growth rate has recorded significant deceleration. The service sector has been the largest contributor of the state economy but last four years have witnessed significant moderation in its growth rate as well. Therefore, it is necessary that state concentrates on the corrective measure to revive the sectors. The government must also ensure that growth is job-augmenting, rural-oriented and participatory in nature,n++ noted the paper titled Action agenda for new government of Punjab, that was released by ASSOCHAM in Chandigarh today.

The states overall economic growth rate reached its lowest level from 10.2 percent in 2006-07 to 4.9 percent in 2014-15. In 2015-16, it witnessed a marginal improvement in its overall economic growth to 5.96 percent as compared to previous year growth rate. The states contribution to Indias economy has declined from 3.3 percent in 2004-05 to 2.9 percent in 2015-16.

The services sector growth rate has increased from 6.6 percent in 2005-06 to reach its peak level of 11.8 percent in 2011-12 thereafter it has recorded a downfall. In 2015-16, service sector gross value added growth rate is 6.3 percent, adds the paper.

Punjab is the eleventh largest state in India in terms of number of unregistered MSMEs (Micro Small and Medium Enterprise) and tenth largest state in terms of registered MSMEs. The states unregistered MSMEs account for 4.9 percent of Indias unregistered MSMEs and registered MSMEs account for 3.08 percent of Indias MSMEs. The MSMEs industry generates significant employment opportunities in Punjab. Unregistered MSMEs industry generates 14.16 lakh employments and registered MSMEs industry generates 4.16 lakh employments, highlights the paper.

On the industrial front, Punjab has recorded a compound annual growth rate (CAGR) of about 7.5% during 2004-05 to 2014-15. The states industrial sector contributes 27.0 percent of states economy in 2014-15 which was 24.7 percent in 2004-05. According to the census 2011, workforce dependent on industry is 3.9 percent of the total workforce in the state which was 3.7 percent in 2001, adds the paper.

Agriculture sector has remained the engine of economic growth in Punjab but sustainability of growth of the agriculture sector is under question. On the one side, the agriculture sector is turning less remunerative compared to the early green revolution period and on the other, natural resource constraint such as degradation of soil health and dramatically falling underground water table is increasingly becoming more severe. The sector has registered a compound annual growth rate of 1.6 percent during 2004-05 to 2014-15 that is worse than all India. The performance indicates that states agriculture sector is not operating at its potential level.

The states agriculture & allied sector growth rate is quite uneven over the years and has recorded sharp fluctuation. The sectors performance is indicating that the state has recorded a negative growth of 0.3 percent in 2009-10 and 0.5 percent in 2014-15. In 2015-16, agriculture & allied sector performance (GVA at 2011-12 base) is recorded at 5.2 percent.

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Mastek gains after subsidiary completes acquisition of two companies
Jan 13,2017

The announcement was made before market hours today, 13 January 2017.

Meanwhile, the BSE Sensex was down 28.62 points, or 0.11%, to 27,218.54.

On the BSE, 15,000 shares were traded in the counter so far, compared with average daily volume of 57,000 shares in the past two weeks. The stock had hit a high of Rs 169.90 and a low of Rs 167 so far during the day. The stock had hit a 52-week high of Rs 185.35 on 19 December 2016. The stock had hit a 52-week low of Rs 104.70 on 17 February 2016.

Mastek said that the closing formalities in relation to the share purchase agreement for acquisition of 100% equity shares of Trans American Information Systems have been completed and consequently, Trans American Information Systems has become a wholly owned subsidiary of the company.

Further the company informed that Digility Inc., U.S., an overseas first level step down subsidiary of the company, has completed the acquisition of TaisTech LLC, USA and Trans American Information Systems Inc. USA. Pursuant to the acquisition, TaisTech LLC, USA and Trans American Information Systems Inc. USA have become wholly owned subsidiaries of Digility Inc., U.S. and consequently, they have also become step down wholly owned overseas subsidiaries of the company.

Digility Inc., the wholly owned subsidiary of Mastek UK, and a step down US based subsidiary of Mastek had announced on 5 January 2017, acquisition of US-based leading digital commerce solution provider, TAISTech.

Masteks board of directors on 12 December 2016, had accorded approval for acquiring 100% of the equity shares of Trans American Information Systems Private Limited, an IT consultancy and software services firm, subject to compliance with all applicable laws and requisite approvals, if any. The cost of acquisition was Rs 12.50 crore.

Masteks consolidated net profit rose 113.7% to Rs 7.65 crore on 3.62% decline in net sales to Rs 124.90 crore in Q2 September 2016 over Q1 June 2016.

Mastek is a publicly held leading IT player with global operations providing enterprise solutions to government, retail and financial services organizations worldwide.

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NTPC provides update on MoU signed for takeover of Chhabra Thermal Power Plant
Jan 13,2017

NTPC announced that with reference to the signing of a non-binding MoU with Rajasthan Rajya Vidyut Utpadan Nigam and Rajasthan Urja Vikas Nigam for take-over of Chhabra Thermal Power Plant Stage-I (4x 250 MW) and Stage-II (2x660 MW) of Rajasthan Urja Vikas Nigam by NTPC, the last line Rajasthan Urja Vikas Nigam may be read as Rajasthan Rajya Vidyut Utpadan Nigam.

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Union Bank of India appoints CFO
Jan 13,2017

Union Bank of India announced that B. Sreeneivasa Rao, Deputy General Manager has been appointed as Chief Financial Officer (CFO) of the Bank w.e.f 12 January 2017.

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CCL International get reaffirmation in credit ratings
Jan 13,2017

CCL International announced that ICRA, vide its letter dated 30 December 2016 has reaffirmed the long-term rating of [ICRA] BB (pronounced as ICRA double B) assigned to the Rs. 5 crore fund-based limits and the short-term rating of [ICRA] A4+ (pronounced ICRA A four plus) assigned to the Rs. 8.50 crore non-fund-based limits.

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PTC India announces cessation of nominee director
Jan 13,2017

PTC India announced that Anil Kumar Agarwal, Nominee Director of Power Finance Corporation (PFC), has ceased to be a Director on the Board of PTC India w.e.f 01 January 2017 consequent upon his superannuation from PFC.

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Lahoti Overseas announces resignation of company secretary and compliance officer
Jan 13,2017

Lahoti Overseas announced that Mrunal S Vaidya has resigned from the post of Company Secretary and Compliance Officer of the Company w.e.f 10 January 2017.

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