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Adani Transmission surges 28.59% in four sessions
Apr 07,2017

The stock has jumped 28.59% in four sessions to its current ruling price of Rs 82.75, from its close of Rs 64.35 on 31 March 2017.

Meanwhile, the S&P BSE Sensex was down 60.86 points or 0.20% at 29,866.48. The S&P BSE Mid-Cap index was up 89.61 points or 0.61% at 14,840.58.

High volumes were witnessed on the counter. On the BSE, 8.3 lakh shares were traded in the counter so far as against average daily volume of 1.83 lakh shares in the past one quarter. The stock had hit a high of Rs 83.25 in intraday trade, which is also a record high for the stock. The stock had hit a low of Rs 74.65 so far during the day. The stock had hit a 52-week low of Rs 28.35 on 20 May 2016.

The stock had outperformed the market over the past one month till 6 April 2017, gaining 21.41% compared with Sensexs 3.03% gains. The scrip had also outperformed the market in past one quarter, jumping 32.87% as against Sensexs 11.84% rise.

The mid-cap company has equity capital of Rs 1099.81 crore. Face value per share is Rs 10.

Adani Transmission (ATL) had jumped 6.06% to Rs 68.25 on 3 April 2017 after the company said that it has received the 3 letter of intents from RVPN (Rajasthan Rajya Vidyut Prasaran Nigam Limited) to construct, own, operate and maintain three transmission projects in the state of Rajasthan. The projects namely Hadoti Transmission Company (PPP-8), Barmer Transmission Company (PPP 9), and Thar Transmission Company (PPP-10) collectively have approximately 350 circuit kilometers (ckt kms) of lines and 16 substations with transformation capacity of approx. 600 MVA at voltage level of 132/220 KV. The announcement was made during market hours on 3 April 2017.

With these projects, ATL will strengthen its existent significant presence in Rajasthan with 2 operational transmission projects (i.e. Aravali & Maru transmission company) and Suratgarh Bikaner project, which is under construction, it had said.

With the completion of all the ongoing projects and acquisition of Reliance Infrastructures operational transmission assets along with these three projects, the network of ATL is expected to surpass 11000 ckt kms, ATL had added.

Adani Transmissions consolidated net profit jumped 32.8% to Rs 99.28 crore on 38.5% rise in net sales to Rs 729.22 crore in Q3 December 2016 over Q3 December 2015.

Adani Transmission is into power transmission business and is a part of business conglomerate Adani Group.

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Allied Computers International (Asia) announced change in registered office
Apr 07,2017

Allied Computers International (Asia) announced that Registered Office of the Company has been changed to Shop No. 11, Building No. 2,Happy Home CHS Ltd., Shanti Park, Near Malaika Appliances, Mira Road (E), Mumbai, Thane - 401107, Maharashtra.

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Board of La Opala RG appoints director
Apr 07,2017

The Board of Directors of La Opala RG has appointed Subir Bose(DIN 00048451) as an Independent Non-Executive Director of the company at their meeting held on 07 April 2017, subject to the approval of the shareholders at the forthcoming Annual General Meeting.

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Alembic Pharmaceuticals receives ANDA approval for Fluoxetine Hydrochloride Tablets
Apr 07,2017

Alembic Pharmaceuticals announced that the Company has received approval from the USFDA for its Abbreviated New Drug Application for Fluoxetine Hydrochloride Tablets, 10 mg and 20 mg. The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD) Prozac Tablets, 10 mg and 20 mg, of Eli Lilly and Company.

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Larsen & Toubro allots 3,05,464 equity shares
Apr 07,2017

Larsen & Toubro has allotted 3,05,464 (Three Lakh Five Thousand Four Hundred Sixty Four) shares today to those grantees who had exercised their options under the Companys Employee Stock Ownership / Option Schemes. The said shares will rank pari-passu with the existing shares of the Company in all respects.

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Ontic Finserve fixes record date for consolidation of equity shares
Apr 07,2017

Ontic Finserve has fixed 17 April 2017 as a Record Date for the purpose of consolidation of equity shares of the Company from Rs. 1/- each into Rs. 10/- each.

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Ind-Ra: UP Farm Debt Waiver - Not a Long-Term Solution to Agrarian Distress, to Pressurise State Finances
Apr 07,2017

The debt waiver announced by the Uttar Pradesh (UP) government for the small and marginal farmers is not the long-term answer to any agrarian crisis, says India Ratings & Research (Ind-Ra). While the solution to the agrarian crisis facing the country is not an easy one, providing a debt waiver to farmers will only provide short-term relief to distressed farmers, but will also lead to a bad credit culture, besides exerting pressure on state finances.

The UP cabinet has waived agriculture loans up to INR100,000 of 21.5 million small and marginal farmers of the state. This is expected to cost the state exchequers INR307.29 billion. In addition the cabinet has also approved a write-off of INR56.30 billion of non-performing assets of 0.7 million farmers. Ind-Ra estimates that the direct impact of the debt waiver on the state exchequer to be around INR363.59 billion, which is around 2.6% of UPs gross state domestic product (GSDP).

Despite being under pressure, the finances of the government of UP (GoUP) are in relatively better shape than it was a decade ago. The state has been generating revenue surplus from FY07 onwards. It had shown revenue surplus of INR223.94 billion in FY15, INR183.68 billion in FY16 (revised estimate, RE) and INR282.01 billion in FY17 (budget estimate, BE). Also the fiscal deficit/GSDP of the state (excluding UDAY scheme) in FY16 (RE) and FY17 (BE) was lower than the 14th Finance Commissions prescribed limit of 3%. The state spends a significant part of its expenditure on the power sector (both revenue and capital). As UP was the first state to join UDAY and has also raised bonds from the market for financing the losses of the power sector, Ind-Ra believes this will provide some fiscal space for the government to absorb the expenditure arising out of the farm debt waiver. However, Ind-Ra would await the GoUPs FY18 budget to ascertain the fiscal position of the state.

Ind-Ra had highlighted the negative implication that debt waivers have on credit culture. The debt waiver announced can significantly impact the credit culture among the agriculture communities in other states. More importantly demand for debt waiver may also come in from other states as well. The waivers may mask the delinquencies for the time being. Nevertheless, it carries the risk of significantly impairing asset quality going forward. The unintended outcome of this could be reduced availability of credit to the farmers from banks, forcing them to resort to the unorganised lending sector.

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NTPC commissions Unit#1 of 660 MW of Solapur Super Thermal Power
Apr 07,2017

NTPC announced that Unit#1 of 660 MW of Solapur Super Thermal Power Project has been commissioned. With this, the commissioned capacity of NTPC and NTPC Group has become 44194 MW and 51410 MW respectively.

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Large bulk deal boosts Sobha
Apr 07,2017

Meanwhile, the S&P BSE Sensex was down 66.61 points or 0.22% at 29,860.73. The BSE Mid-Cap index was up 51.63 points or 0.36% at 14,328.17.

Bulk deal boosted volume on the scrip. On the BSE, 44.87 lakh shares were traded on the counter so far as against the average daily volumes of 41,524 shares in the past one quarter. The stock had hit a high of Rs 415 and a low of Rs 401 so far during the day.

The stock had hit a 52-week high of Rs 417 on 6 April 2017 and a 52-week low of Rs 224.05 on 22 November 2016. The stock had outperformed the market over the past one month till 6 April 2017, advancing 27.36% compared with the Sensexs 3.55% rise. The scrip also outperformed the market over the past one quarter, surging 51.59% as against the Sensexs 11.84% advance.

The mid-cap company has equity capital of Rs 96.30 crore. Face value per share is Rs 10.

On a consolidated basis, net profit of Sobha rose 7.95% to Rs 39.40 crore on 24.37% growth in net sales to Rs 540 crore in Q3 December 2016 over Q3 December 2015.

Sobha Group is one of the largest real estate organisations in India and the Middle East. It has presence in 24 cities and 13 states across India and throughout the Middle East.

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Volumes jump at Nath Bio-Genes (India) counter
Apr 07,2017

Nath Bio-Genes (India) clocked volume of 22.05 lakh shares by 12:45 IST on BSE, a 65.41-times surge over two-week average daily volume of 34,000 shares. The stock was locked at 20% upper circuit at Rs 189.70.

Sobha notched up volume of 44.82 lakh shares, a 40.4-fold surge over two-week average daily volume of 1.11 lakh shares. The stock rose 1.55% to Rs 409.40.

Laurus Labs saw volume of 5.8 lakh shares, a 31.11-fold surge over two-week average daily volume of 19,000 shares. The stock rose 0.2% to Rs 519.

BGR Energy clocked volume of 8 lakh shares, a 13.38-fold surge over two-week average daily volume of 60,000 shares. The stock jumped 17.4% to Rs 179.80.

Dhanlaxmi Bank saw volume of 38.81 lakh shares, a 13.05-fold rise over two-week average daily volume of 2.97 lakh shares. The stock hit 20% upper circuit at Rs 38.20.

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Indiabulls Ventures zooms 56.07% in ten sessions
Apr 07,2017

Meanwhile, the S&P BSE Sensex was down 66.04 points, or 0.22% at 29,861.30. The S&P BSE Small-cap index was up 61.33 points, 0.42% at 14,812.30.

High volumes were witnessed on the counter. On the BSE, 32.86 lakh shares were traded on the counter so far as against the average daily volumes of 10.07 lakh shares in the past one quarter. The stock had hit a high of Rs 70.70 so far during the day, which is also its 52-week high. The stock hit a low of Rs 68.20 so far during the day.

The stock had hit a 52-week low of Rs 13.40 on 6 April 2016. The stock had outperformed the market over the past one month till 6 April 2017, advancing 87.08% compared with the Sensexs 3.03% rise. The scrip had also outperformed the market over the past one quarter advancing 210.37% as against the Sensexs 11.84% rise.

The small-cap company has equity capital of Rs 64.04 crore. Face Value per share is Rs 2.

Shares of Indiabulls Ventures zoomed 56.07% in ten trading sessions to its current ruling price of Rs 70.70, from a close of Rs 45.30 on 23 March 2017.

Indiabulls Ventures consolidated net profit fell 54.1% to Rs 10.59 crore on 9.6% decline in total income to Rs 96.93 crore in Q3 December 2016 over Q3 December 2015.

Indiabulls Ventures (Formerly Indiabulls Securities) is one of Indias leading capital markets companies providing securities broking and advisory services. Indiabulls Ventures also provides depository services, equity research services to its clients and offers commodities trading through a separate company. These services are provided both through on-line and off-line distribution channels.

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Deepak Fertilisers crawls up after acquiring majority stake in packaging firm
Apr 07,2017

The announcement was made after market hours yesterday, 6 April 2017.

Meanwhile, the S&P BSE Sensex was down 71.17 points or 0.24% at 29,856.17. The S&P BSE Small-Cap index was up 60.24 points or 0.41% at 14,811.21.

On the BSE, 54,456 shares were traded on the counter so far as against the average daily volumes of 4.65 lakh shares in the past one quarter. The stock had hit a high of Rs 263.90 and a low of Rs 258 so far during the day.

The stock had hit a record high of Rs 284 on 16 January 2017 and a 52-week low of Rs 146.70 on 6 April 2016. The stock had underperformed the market over the past one month till 6 April 2017, gaining 2.91% compared with Sensexs 3.03% gains. The scrip had, however, outperformed the market in past one quarter, advancing 13.9% as against Sensexs 11.84% rise.

The small-cap company has equity capital of Rs 88.20 crore. Face value per share is Rs 10.

Deepak Fertilisers & Petrochemicals Corporation (DFPCL) said that Smartchem technologies (STL) a wholly owned subsidiary of the company has decided to acquire majority stake in Performance Chemiserve (PCPL), a company engaged in packaging services to the chemical industry since 2006.

STL proposes to take up to 76% equity stake in PCPL by way of a fresh issue to fund further growth. After the acquisition of shares by STL, PCPL would become the subsidiary of STL and step-down subsidiary of DFPCL.

Separately, DFPCL announced that the domestic gas supply to the company has been arbitrarily stopped effective from 15 May 2014, pursuant to an order passed by Ministry of Petroleum, Government of India.

The company successfully challenged the same before the Delhi High Court which vide its orders dated 7 July 2015 and 19th October, 2015 directed the Government of India to restore gas supply. Against these orders, the Government of India had filed an SLP [special leave petition] before the Supreme Court.

The Supreme Court has now disposed off the SLP filed by the Government of India. The gas restoration matter will now be finally heard by the Division Bench of Delhi High Court. The company is awaiting detailed order of the Supreme Court. The announcement was made after market hours yesterday, 6 April 2017,

DFPCLs net profit surged 104.9% to Rs 46.62 crore on 4.7% decline in net sales to Rs 1050.50 crore in Q3 December 2016 over Q3 December 2015.

DFPCL is among Indias leading producers of industrial chemicals and fertilisers. The company offers a basket of over 48 traded products which include bulk fertilizers, specialty fertilizers, water soluble fertilizers, micro nutrients and secondary nutrients.

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Deepak Fertilisers crawls up after acquisition
Apr 07,2017

The announcement was made after market hours yesterday, 6 April 2017.

Meanwhile, the S&P BSE Sensex was down 71.17 points or 0.24% at 29,856.17. The S&P BSE Small-Cap index was up 60.24 points or 0.41% at 14,811.21.

On the BSE, 54,456 shares were traded on the counter so far as against the average daily volumes of 4.65 lakh shares in the past one quarter. The stock had hit a high of Rs 263.90 and a low of Rs 258 so far during the day.

The stock had hit a record high of Rs 284 on 16 January 2017 and a 52-week low of Rs 146.70 on 6 April 2016. The stock had underperformed the market over the past one month till 6 April 2017, gaining 2.91% compared with Sensexs 3.03% gains. The scrip had, however, outperformed the market in past one quarter, advancing 13.9% as against Sensexs 11.84% rise.

The small-cap company has equity capital of Rs 88.20 crore. Face value per share is Rs 10.

Deepak Fertilisers & Petrochemicals Corporation (DFPCL) said that Smartchem technologies (STL) a wholly owned subsidiary of the company has decided to acquire majority stake in Performance Chemiserve (PCPL), a company engaged in packaging services to the chemical industry since 2006.

STL proposes to take up to 76% equity stake in PCPL by way of a fresh issue to fund further growth. After the acquisition of shares by STL, PCPL would become the subsidiary of STL and step-down subsidiary of DFPCL.

Separately, DFPCL announced that the domestic gas supply to the company has been arbitrarily stopped effective from 15 May 2014, pursuant to an order passed by Ministry of Petroleum, Government of India.

The company successfully challenged the same before the Delhi High Court which vide its orders dated 7 July 2015 and 19th October, 2015 directed the Government of India to restore gas supply. Against these orders, the Government of India had filed an SLP [special leave petition] before the Supreme Court.

The Supreme Court has now disposed off the SLP filed by the Government of India. The gas restoration matter will now be finally heard by the Division Bench of Delhi High Court. The company is awaiting detailed order of the Supreme Court. The announcement was made after market hours yesterday, 6 April 2017,

DFPCLs net profit surged 104.9% to Rs 46.62 crore on 4.7% decline in net sales to Rs 1050.50 crore in Q3 December 2016 over Q3 December 2015.

DFPCL is among Indias leading producers of industrial chemicals and fertilisers. The company offers a basket of over 48 traded products which include bulk fertilizers, specialty fertilizers, water soluble fertilizers, micro nutrients and secondary nutrients.

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KEI Industries gets upgrade in corporate governance ratings
Apr 07,2017

KEI Industries announced that Credit Analysis & Research has upgraded the rating assigned to the Corporate Governance practices adopted by the Company from CARE CGR 3 (three) to CARE CGR 3+ (three plus).

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Board of Reliance Capital decides to raise limit for NCD issue by Rs 3000 cr
Apr 07,2017

Reliance Capital announced that the Board of Directors of the Company at its meeting held on 07 April 2017 has decided to raise the limits for issue of Non-Convertible Debentures on private placement basis by an amount of Rs. 3000 crore.

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