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IT shares witness selling pressure
Sep 08,2016

Infosys (down 2.75%), HCL Technologies (down 2.71%), Tech Mahindra (down 2.36%), Wipro (down 1.77%), Oracle Financial Services Software (down 1.75%), Hexaware Technologies (down 1.23%), MindTree (down 0.98%), MphasiS (down 0.87%) and Persistent Systems (down 0.5%), edged lower.

TCS slumped 5.36% to Rs 2,315.85.

The S&P BSE IT index was down 3.03% at 10,108.16. It underperformed the S&P BSE Sensex, which was up 0.15% at 28,970.67.

The BSE IT index had underperformed the market over the past 30 days till 7 September 2016, sliding 5.09% compared with 3% rise in the Sensex. The index had also underperformed the market in past one quarter, falling 7.95% as against Sensexs 8.08% rise.

TCS announced after market hours yesterday, 7 September 2016, that it intends to update investors on business trends in Q2 September 2016. Based on data at the end of August 2016, the company has characterized customer outlook as one marked by abundant caution, with some holding back of discretionary spending - particularly in the banking, financial services and insurance (BFSI) vertical in the United States - resulting in a sequential loss of momentum.

The BFSI vertical reportedly contributed around 40% to TCS revenue in Q1 June 2016.

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GE T&D India tumbles after reverse turnaround in Q1
Sep 08,2016

The result was announced after market hours yesterday, 7 September 2016.

Meanwhile, the S&P BSE Sensex was up 58.44 points or 0.2% at 28,984.80.

On BSE, so far 14,000 shares were traded in the counter as against average daily volume of 12,243 shares in the past one quarter. The stock hit a high of Rs 329.30 and a low of Rs 317.60 so far during the day. The stock had hit a 52-week low of Rs 313.55 on 1 September 2016. The stock had hit a 52-week high of Rs 568.70 on 9 September 2015. The stock had underperformed the market over the past one month till 7 September 2016, sliding 3.87% compared with 3.02% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 8.93% as against Sensexs 7.1% rise.

The mid-cap company has equity capital of Rs 51.21 crore. Face value per share is Rs 2.

GE T&D Indias net sales rose 11.6% to Rs 854.56 crore in Q1 June 2016 over Q1 June 2015.

GE T&D India (formerly Alstom T&D India) is a leading player in the power transmission business. It has a predominant presence in all stages of the power supply chain.

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TCS tumbles on outlook warning
Sep 08,2016

Meanwhile, the BSE Sensex was down 16.91 points, or 0.06%, to 28,909.45.

On BSE, so far 1.23 lakh shares were traded in the counter, compared with average daily volume of 66,344 shares in the past one quarter. The stock hit a high of Rs 2,367 and a low of Rs 2,287 so far during the day. The stock hit a 52-week high of Rs 2,769 on 5 October 2015. The stock hit a 52-week low of Rs 2,119 on 29 February 2016. The stock had underperformed the market over the past 30 days till 7 September 2016, falling 7.68% compared with 3% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 5.06% as against Sensexs 8.08% rise.

The large-cap company has equity capital of Rs 197.04 crore. Face value per share is Re 1.

TCS announced after market hours yesterday, 7 September 2016, that it intends to update investors on business trends in Q2 September 2016. Based on data at the end of August 2016, the company has characterized customer outlook as one marked by abundant caution, with some holding back of discretionary spending - particularly in the banking, financial services and insurance (BFSI) vertical in the United States - resulting in a sequential loss of momentum.

The BFSI vertical reportedly contributed around 40% to the companys revenue in Q1 June 2016.

Meanwhile, some other media reports suggested that TCS chief marketing officer (CMO) John Lenzen has quit. Lenzen, who was based out of Chicago, joined TCS in 2004, and was a member of the Tata Group Brand Advisory Council. He has already updated his LinkedIn profile and lists his current designation as CMO at CareerBuilder, a Chicago-based recruitment software firm, reports added.

TCS consolidated net profit fell 0.4% to Rs 6317 crore on 3% rise in revenue to Rs 29305 crore in Q1 June 2016 over Q4 March 2016.

TCS is an IT services, consulting and business solutions organization. The company offers a consulting-led, integrated portfolio of IT, BPS, infrastructure, engineering and assurance services.

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Ashok Leyland turns volatile after announcing restructuring pact with Nissan Motor
Sep 08,2016

The announcement was made after market hours yesterday, 7 September 2016.

Meanwhile, the S&P BSE Sensex was down 12.69 points or 0.04% at 28,913.67.

On BSE, so far 4.04 lakh shares were traded in the counter as against average daily volume of 12.87 lakh shares in the past two weeks. The stock was volatile. The stock lost as much as 1.01% at the days low of Rs 87.60 so far during the day. The stock rose as much as 1.29% at the days high of Rs 89.65 so far during the day. The stock had hit a 52-week low of Rs 78.05 on 11 February 2016. The stock had hit a record high of Rs 112.80 on 13 April 2016. The stock had underperformed the market over the past one month till 7 September 2016, advancing 0.51% compared with 3.02% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 16.51% as against Sensexs 7.1% rise.

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

Ashok Leyland announced a restructuring agreement with Nissan Motor Co. that will enable both companies to enter into a new phase in their business interaction. Nissan has agreed to sell to Ashok Leyland all of Nissans shares in three joint venture (JV) companies that were formed in 2008. These JVs focus on technology development, and manufacturing of powertrains and vehicles. Under the agreement, these JVs will become wholly-owned Ashok Leyland subsidiaries, upon receipt of all necessary approvals from the regulatory authorities in India. The process is expected to be concluded later this year, Ashok Leyland said.

Ashok Leylands Managing Director Vinod Dasari said that the company has decided to acquire Nissans stake in the three JV companies, and this will help Ashok Leylands efforts to concentrate on its core business initiatives and its customers. Ashok Leyland will continue its relationship with Nissan under the new arrangement, Dasari added.

Ashok Leylands net profit jumped 101.2% to Rs 290.78 crore on 10.6% growth in net sales to Rs 4175.79 crore in Q1 June 2016 over Q1 June 2015.

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

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ONGC gains after Q1 results
Sep 08,2016

The result was announced after market hours yesterday, 7 September 2016.

Meanwhile, the BSE Sensex was down 28.53 points, or 0.10%, to 28,897.83.

On BSE, so far 3.07 lakh shares were traded in the counter, compared with average daily volume of 6.62 lakh shares in the past one quarter. The stock hit a high of Rs 254.70 and a low of Rs 247.85 so far during the day. The stock hit a 52-week high of Rs 267.65 on 12 October 2015. The stock hit a 52-week low of Rs 188 on 12 February 2016. The stock had outperformed the market over the past 30 days till 7 September 2016, rising 7.03% compared with 3% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 11.41% as against Sensexs 8.08% rise.

The large-cap company has equity capital of Rs 4277.75 crore. Face value per share is Rs 5.

ONGC has notified seven (7) new discoveries in Q1 June 2016 and eight (8) so far in the financial year ending March 2017 (3 new prospect discoveries and 5 new pool discoveries).

The company reported 2.02% decline in total crude oil production to 6.012 million metric tonne (MMT) in Q1 June 2016 over Q1 June 2015.

The company reported 17.78% decline in net realisation of crude oil to Rs 3085 per bbl in Q1 June 2016 over Q1 June 2015. In Dollar terms, the company reported 21.97% decline in net realisation of crude oil to $46.10 per bbl in Q1 June 2016 over Q1 June 2015.

ONGC did not bear any under-recovery discount in Q1 June 2016. However, in terms of the decision of the Government of India, the company had shared under-recoveries of oil marketing companies (OMCs) amounting to Rs 1096 crore in Q1 June 2015 by allowing discount in the prices of crude oil based on the rates of discount communicated by Petroleum Planning and Analysis Cell (PPAC).

ONGC is Indias largest oil and gas exploration firm by sales.

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GAIL (India) gains after strong Q1 results
Sep 08,2016

The result was announced after market hours yesterday, 7 September 2016.

Meanwhile, the S&P BSE Sensex was down 3.50 points or 0.01% at 28,922.86.

On BSE, so far 60,000 shares were traded in the counter as against average daily volume of 2.32 lakh shares in the past two weeks. The stock hit a high of Rs 407 and a low of Rs 400 so far during the day. The stock had hit a 52-week high of Rs 407.80 yesterday, 7 September 2016. The stock had hit a 52-week low of Rs 272.75 on 7 September 2015.

The large-cap company has equity capital of Rs 1268.48 crore. Face value per share is Rs 10.

GAIL (India) attributed the sharp surge in its bottom line in Q1 June 2016 to turnaround in its petrochemical business and partial sale of stake in Mahanagar Gas. The companys profit after tax (PAT) excluding gain from stake sale in Mahanagar Gas rose 118% to Rs 846 crore in Q1 June 2016 over Q1 June 2015. The companys bottom line growth during the quarter was also supported by increase in natural gas sales and transmission volumes.

Meanwhile, shares of GAIL (India) turned ex-dividend today, 8 September 2016, for final dividend of Rs 3 per share for the year ended 31 March 2016 (FY 2016). Before turning ex-dividend, the stock offered a dividend yield of 0.75% based on the closing price of Rs 396.50 on BSE yesterday, 7 September 2016.

State-run GAIL (India) is Indias largest natural gas company with a market share of over 80% in natural gas transmission. Apart from natural gas transmission, distribution and processing, GAIL has diversified business interests in LPG transmission, petrochemicals, city gas projects and exploration and production activities. Government of India (GoI) holds 56.11% stake in GAIL (as per shareholding pattern as on 30 June 2016).

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SBI hits 52-week high
Sep 07,2016

The announcement was made after market hours yesterday, 6 September 2016.

Meanwhile, the S&P BSE Sensex was down 30.18 points or 0.1% at 28,947.84.

On BSE, so far 54.58 lakh shares were traded in the counter as against average daily volume of 26.13 lakh shares in the past one quarter. The stock hit a high of Rs 270 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 260.40 so far during the day. The stock had hit a 52-week low of Rs 148.30 on 12 February 2016. The stock had outperformed the market over the past one month till 6 September 2016, advancing 11.45% compared with 3.2% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 30.34% as against Sensexs 8.22% rise.

The large-cap state-run bank has equity capital of Rs 776.28 crore. Face value per share is Rs 1.

State Bank of India (SBI) said it has raised Rs 2100 crore from issue of AT1 Basel III compliant non-convertible, perpetual, subordinated, unsecured debt instrument in the nature of debentures to Yes Bank on private placement basis. The coupon rate on the debentures is 9% per annum payable annually with call option after 5 years or any coupon payment date thereafter.

SBIs net profit fell 31.7% to Rs 2520.96 crore on 9.4% rise in net sales to Rs 48928.60 crore in Q1 June 2016 over Q1 June 2015.

SBI is Indias biggest bank in terms of branch network. The Government of India currently holds 60.18% stake in SBI (as per the shareholding pattern as on 30 June 2016).

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Redington (India) firms up ahead of iPhone 7 launch
Sep 07,2016

Meanwhile, the BSE Sensex was down 38.85 points, or 0.13%, to 28,939.17.

On BSE, so far 1.60 lakh shares were traded in the counter, compared with average daily volume of 69,385 shares in the past one quarter. The stock hit a high of Rs 122.70 and a low of Rs 117.55 so far during the day. The stock hit a 52-week high of Rs 132 on 24 September 2015. The stock hit a 52-week low of Rs 95.10 on 28 July 2016. The stock had outperformed the market over the past 30 days till 6 September 2016, rising 12.26% compared with 2.82% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 11.44% as against Sensexs 7.24% rise.

The mid-cap company has equity capital of Rs 79.96 crore. Face value per share is Rs 2.

Apples new iPhones called the iPhone 7 and iPhone 7 Plus are set to launch later in the global day today, 7 September 2016. According to reports, iPhone 7 and iPhone 7 Plus will go on sale in India on 16 September 2016.

Redington India is one of the key distributors for Apple products in India.

On a consolidated basis, net profit of Redington India rose 13.21% to Rs 93.08 crore on 27.26% rise in net sales to Rs 9632.95 crore in Q1 June 2016 over Q1 June 2015.

Redington (India) is a supply chain solutions provider worldwide to leading manufacturers of information technology, telecom, lifestyle and consumer electronics products.

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HDFC slips on profit booking
Sep 07,2016

Meanwhile, the S&P BSE Sensex was up 27.46 points or 0.09% at 29,005.48.

On BSE, so far 40,000 shares were traded in the counter as against average daily volume of 1.69 lakh shares in the past one quarter. The stock hit a high of Rs 1,463.25 so far during the day, which is a record high for the counter. The stock hit a low of Rs 1,418.50 so far during the day. The stock had hit a 52-week low of Rs 1,012 on 25 February 2016. The stock had outperformed the market over the past one month till 6 September 2016, advancing 8.54% compared with 3.2% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 16.23% as against Sensexs 8.22% rise.

The large-cap company has equity capital of Rs 316.59 crore. Face value per share is Rs 2.

Shares of HDFC had rallied 7.17% in the preceding seven trading sessions to settle at Rs 1,454.90 yesterday, 6 September 2016, from its close of Rs 1,357.60 on 25 August 2016.

HDFCs net profit rose 37.5% to Rs 1870.73 crore on 19.4% growth in total income to Rs 8393.33 crore in Q1 June 2016 over Q1 June 2015.

HDFC is Indias first retail housing finance company and is currently one of the largest originators of housing loans in the country.

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Indoco Remedies turns volatile after receiving USFDA observations
Sep 07,2016

The announcement was made during trading hours today, 7 September 2016. Shares tumbled after this announcement. However, shares bounced back as the company added that all the observations are correctable and the company expects to complete the corrective and preventive actions within a period of 30 days.

Meanwhile, the BSE Sensex was up 18.87 points, or 0.07%, to 28,996.89.

On BSE, so far 1.29 lakh shares were traded in the counter, compared with average daily volume of 6,341 shares in the past one quarter. Trading in the counter was volatile. The stock rose 12.15% at the days high of Rs 360.35 so far during the day,which is also a 52-week high for the counter. The stock fell 7.53% at the days low of Rs 297.10 so far during the day. The stock hit a 52-week low of Rs 244 on 25 February 2016. The stock had outperformed the market over the past 30 days till 6 September 2016, rising 3.31% compared with 2.82% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 13.47% as against Sensexs 7.24% rise.

The small-cap company has equity capital of Rs 18.43 crore. Face value per share is Rs 2.

Indoco Remedies said that US Food and Drug Administration (USFDA) inspected the companys Goa plant II from 31 August 2016 to 4 September 2016. The injectable Abbreviated New Drug Application (ANDA) filings triggered this inspection.

At the end of the inspection, six 483 observations were issued. All the observations are correctable and the company expects to complete the corrective and preventive actions within a period of 30 days. None of the 483s are related to data integrity issue, the company said.

An FDA Form 483 is issued to a firm at the conclusion of an inspection when an investigator has observed any conditions that in their judgement may constitute violations of the Food Drug and Cosmetic (FD&C) Act and related Acts.

Net profit of Indoco Remedies declined 4.95% to Rs 19.79 crore on 15.79% rise in net sales to Rs 252.72 crore in Q1 June 2016 over Q1 June 2015.

Indoco Remedies is a fully integrated, research-oriented pharma vompany with presence in 55 countries.

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Bhel rallies after strong Q1 results
Sep 07,2016

The result was announced during market hours today, 7 September 2016.

Meanwhile, the S&P BSE Sensex was up 38.46 points or 0.13% at 29,016.48.

The stock spurted on massive volumes. On BSE, so far 54.70 lakh shares were traded in the counter as against average daily volume of 8.03 lakh shares in the past one quarter. The stock was highly volatile. The stock surged as much as 16.47% at the days high of Rs 161.15 so far during the day. The stock lost as much as 2.89% at the days low of Rs 134.35 so far during the day. The stock had hit a 52-week low of Rs 90.40 on 29 February 2016. The stock had hit a 52-week high of Rs 219.70 on 27 October 2015. The stock had underperformed the market over the past one month till 6 September 2016, advancing 0.44% compared with 3.2% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 17.2% as against Sensexs 8.22% rise.

The large-cap company has equity capital of Rs 489.52 crore. Face value per share is Rs 2.

Bharat Heavy Electricals (Bhel) order backlog stood at Rs 1.08 lakh crore as on 30 June 2016.

Separately, Bhel during market hours today, 7 September 2016 said that India Ratings and Research has downgraded its Long-Term Issuer rating on the company to IND AA+ from IND AAA. Bhel said that India Ratings and Research has, simultaneously, removed all ratings from Rating Watch Negative (RWN) and a Negative Outlook has been assigned to all Long-term ratings. The removal of RWN follows the completion of the ongoing evaluation of Bhels key business parameters. According to statement issued by India Ratings and Research, decline in Bhels revenue for the period from FY 2013 to FY 2016, slow moving projects in the companys order book, EBITDA (earnings before interest, taxes, depreciation and amortization) margins turning negative and high debtors days led to downgrade of the companys ratings.

State-run Bhel is an integrated power plant equipment manufacturer. It is one of the largest engineering and manufacturing companies in India engaged in the design, engineering, manufacture, construction, testing, commissioning and servicing of a wide range of products and services for core sectors of the economy, viz. power, transmission, industry, railways, renewable energy, oil & gas, water and defence. The Government of India currently holds 63.06% stake in Bhel (as per the shareholding pattern as on 30 June 2016).

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Subex jumps on fund raising plan
Sep 07,2016

The announcement was made during trading hours today, 7 September 2016.

Meanwhile, the BSE Sensex was up 8.21 points, or 0.03%, to 28,986.23.

On BSE, so far 14.50 lakh shares were traded in the counter, compared with average daily volume of 24.23 lakh shares in the past one quarter. The stock hit a high of Rs 13.20 and a low of Rs 12.19 so far during the day. The stock hit a 52-week high of Rs 16.56 on 30 November 2015. The stock hit a 52-week low of Rs 8.25 on 20 January 2016. The stock had underperformed the market over the past 30 days till 6 September 2016, falling 2.30% compared with 2.82% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 28.93% as against Sensexs 7.24% rise.

The small-cap company has equity capital of Rs 506.91 crore. Face value per share is Rs 10.

Subex said that the meeting of the board of directors of the company will be held on 12 September 2016, to consider and approve the raising of funds by way of issue of equity shares on preferential basis.

On a consolidated basis, Subex reported net loss of Rs 11.51 crore in Q4 March 2016 as against net profit of Rs 59.38 crore in Q3 December 2015. Net sales declined 10.69% to Rs 89.47 crore in Q4 March 2016 over Q3 December 2015.

Subex is a leading global provider of business and operations support systems (B/OSS) that empowers communications service providers (CSPs) to achieve competitive advantage through business and capex optimisation - thereby enabling them to improve their operational efficiency to deliver enhanced service experiences to subscribers.

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Jain Irrigation surges on buzz a foreign brokerage maintains overweight rating
Sep 07,2016

Meanwhile, the S&P BSE Sensex was up 27.62 points or 0.1% at 29,005.64.

On BSE, so far 10.38 lakh shares were traded in the counter as against average daily volume of 7.71 lakh shares in the past one quarter. The stock hit a high of Rs 94.65 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 91 so far during the day. The stock had hit a 52-week low of Rs 47 on 17 February 2016. The stock had outperformed the market over the past one month till 6 September 2016, advancing 20.76% compared with 3.2% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 36.13% as against Sensexs 8.22% rise.

The mid-cap company has equity capital of Rs 91.44 crore. Face value per share is Rs 2.

The foreign brokerage reportedly said that recapitalized balance sheet augurs well for Jain Irrigation Systems earnings. Cyclical recovery along with financial leverage is expected to boost earnings of the company, the brokerage reportedly said.

On consolidated basis, Jain Irrigation Systems net profit jumped 302.8% to Rs 58.52 crore on 3.2% growth in net sales to Rs 1629.48 crore in Q1 June 2016 over Q1 June 2015.

Jain Irrigation Systems is engaged in manufacturing of micro irrigation systems, PVC pipes, HDPE pipes, plastic sheets, agro processed products, renewable energy solutions, tissue culture plants, financial services and other agricultural inputs.

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Bharat Forge gains after rise in North America Class 8 truck orders
Sep 07,2016

Meanwhile, the BSE Sensex was up 32.04 points, or 0.11%, to 29,010.06.

On BSE, so far 2.16 lakh shares were traded in the counter, compared with average daily volume of 1.19 lakh shares in the past one quarter. The stock hit a high of Rs 907 and a low of Rs 888.90 so far during the day. The stock hit a 52-week high of Rs 1,133.40 on 4 September 2015. The stock hit a 52-week low of Rs 686.80 on 24 June 2016. The stock had outperformed the market over the past 30 days till 6 September 2016, rising 5.54% compared with 2.82% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 13.66% as against Sensexs 7.24% rise.

The large-cap company has equity capital of Rs 46.56 crore. Face value per share is Rs 2.

As per FTR release, preliminary North America Class 8 truck orders increased 34.62% to 14,000 units in August 2016 compared with 10,400 units sold in July 2016.

About 30% of Bharat Forges revenue reportedly comes from North America truck market.

However, the Class 8 order activity for August was the weakest for that month since 2010 and down 35% in August 2016 over August 2015. Class 8 orders for the last twelve months have totaled 206,000 units.

Bharat Forges net profit fell 37.7% to Rs 122.10 crore on 20.2% decline in net sales to Rs 888.76 crore in Q1 June 2016 over Q1 June 2015.

Bharat Forge is the flagship company of Kalyani Group. It is a global provider of high performance, innovative, safety & critical components and solutions to various industrial sectors including automotive, oil & gas, power, construction & mining, aerospace and rail & marine.

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Petronet LNG tumbles on foreign brokerage downgrade reports
Sep 07,2016

Meanwhile, the S&P BSE Sensex was up 26.36 points or 0.09% at 29,004.38.

On BSE, so far 2.49 lakh shares were traded in the counter as against average daily volume of 73,570 shares in the past one quarter. The stock hit a high of Rs 357.35 and a low of Rs 338.65 so far during the day. The stock had hit a record high of Rs 366.30 yesterday, 6 September 2016. The stock had hit a 52-week low of Rs 169.35 on 28 September 2015. The stock had outperformed the market over the past one month till 6 September 2016, advancing 14.82% compared with 3.2% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 32% as against Sensexs 8.22% rise.

The large-cap company has equity capital of Rs 750 crore. Face value per share is Rs 10.

The foreign brokerage reportedly said the Petronet LNG stock is fully pricing in a big recovery. The brokerage sees low chances of any significant earnings surprise from the company.

Petronet LNGs net profit surged 54.8% to Rs 377.86 crore on 37.9% decline in net sales to Rs 5108.95 crore in Q1 June 2016 over Q1 June 2015. The result was announced on 5 September 2016, during which the stock market was closed on account of Ganesh Chaturthi. The stock had risen 0.91% to settle at Rs 356.40 yesterday, 6 September 2016.

Petronet LNG was formed as a joint venture by the Government of India to import liquified natural gas (LNG) and set up LNG terminals in the country.

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