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Artson Engineering announces cessation of director
Dec 30,2016

Artson Engineering announced that pursuant to the notification dated 25 November 2016 issued by the Ministry of Finance, Government of India, The Sick Industrial Companies (Special Provisions), Act, 1985 was repealed with effect from 01 December 2016.

Further, pursuant to the provisions of Section 4(a)(ii) of The Sick Industrial Companies (Special Provisions) Repeal Act, 20013, the office of Mukesh Mohan Gupta, Special Director appointed by the BIFR on the Board of Artson Engineering stands vacated and he ceases to be a Director of the Company effective 01 December 2016.

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Crisis management plan imperative to counter cybercrime threats in India: ASSOCHAM-PwC study
Dec 30,2016

Considering that Indian cyberspace is vulnerable to cyber crime, the country must formulate a crisis management plan to tackle cyber attacks, cyber terrorism and cyber espionage attempts, noted a recent ASSOCHAM-PwC joint study.

n++It is imperative for law enforcement agencies to have a system which will have a collaborative framework for receiving video feeds on a need basis from closed-circuit television (CCTV) surveillance systems and subsystems,n++ highlighted an ASSOCHAM-PwC joint study titled Safe cities: Collaborative monitoring - For the community, by the community.

Leveraging the capabilities of a good video management system (VMS), when clubbed with video analytics, will also allow efficient access to these external camera feeds at the command and control centre.

n++Collaborative monitoring of video feeds not only facilitates greater coverage of video surveillance within the city but also serves as deterrence for crimes and assists law enforcement agencies in controlling incident escalation, crime detection and its investigation,n++ said the study.

Collaborative monitoring is a unique tool, wherein the security and law enforcement agency takes advantage of the extensive network of surveillance cameras deployed by communities across the city as well as the cameras of other private and government establishments on a need basis.

It is an extremely prudent enabler for police department, as while they strengthen their bond with the communities, they can use any information or footage gathered from these security cameras to support investigation and the prosecution of criminals.

The advantage provided by leveraging the extensive network of external cameras ensures enhanced crime monitoring through a cost-effective, widespread and scalable model.

However, while implementing the collaborative monitoring framework there is a need to carefully manage certain risks like conflict with existing laws and regulatory proposals, lack of awareness within communities, funding related issues, privacy and anonymity related issues and others to garner maximum fruits out of such initiatives.

Showcasing the examples of the impact of collaborative surveillance, the study highlighted that crime graph in Hyderabad came down by 14 per cent in 2015 compared to that in previous year. While UK based Scotland Yard security agency used CCTV footage as evidence in 95 per cent of murder cases.

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Godrej Properties gains after adding new residential project in Pune
Dec 30,2016

The announcement was made before market hours today, 30 December 2016.

Meanwhile, the BSE Sensex was up 171.81 points, or 0.65%, to 26,537.96.

On the BSE, so far 512 shares were traded in the counter, compared with average daily volumes of 32,965 shares in the past one quarter. The stock had hit a high of Rs 308.50 and a low of Rs 306.60 so far during the day.

The stock hit a 52-week high of Rs 386 on 9 August 2016. The stock hit a 52-week low of Rs 266.40 on 29 February 2016. The stock had outperformed the market over the past 30 days till 29 December 2016, rising 1.20% compared with the 1.08% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 12.15% as against Sensexs 5.38% decline.

The mid-cap company has equity capital of Rs 108.18 crore. Face value per share is Rs 5.

Godrej Properties (GPL) announced that it has entered into a partnership to develop a residential group housing project in the prime locality of Bavdhan, West Pune. Spread over 5.5 acres, the project will offer approximately 52,000 square metres (560,000 square feet) of saleable area and will be developed as a modem residential development comprising of apartments of various configurations.

The site is strategically located just off the Mumbai-Bangalore bypass and very close to the prime residential micro market of Kothrud. It is situated on main Paud road within PMC limits and is well connected to Hinjewadi IT Park. This project will be developed under the profit share arrangement.

On a consolidated basis, net profit of Godrej Properties declined 77.40% to Rs 23.48 crore on 76.59% decline in net sales to Rs 305.60 crore in Q2 September 2016 over Q2 September 2015.

Godrej Properties is a real estate developer. It is currently developing residential, commercial and township projects spread across approximately 11.98 million square meters (129.56 million square feet) in 12 cities.

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Jagran Prakashan gains on buyback proposal
Dec 30,2016

The announcement was made after market hours yesterday, 29 December 2016.

Meanwhile, the S&P BSE Sensex was up 147.71 points or 0.56% at 26,513.86.

On the BSE, 19,000 shares were traded on the counter so far as against the average daily volumes of 40,230 shares in the past one quarter. The stock had hit a high of Rs 184.65 and a low of Rs 177.70 so far during the day.

The stock had hit a record high of Rs 213 on 8 September 2016 and a 52-week low of Rs 144 on 18 March 2016. It had outperformed the market over the past one month till 29 December 2016, advancing 0.99% compared with the Sensexs 0.11% fall. The scrip had, however, underperformed the market in past one quarter, declining 5.29% as against the Sensexs 5.25% fall.

The mid-cap company has equity capital of Rs 65.38 crore. Face value per share is Rs 2.

Jagran Prakashans net profit rose 14.2% to Rs 75.46 crore on 6.6% growth in net sales to Rs 447.59 crore in Q2 September 2016 over Q2 September 2015.

Jagran Prakashan is a leading media and communications group with interests spanning across newspapers, radio, magazines, outdoor advertising, promotional marketing & event management, and digital businesses.

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Godrej Properties enters into partnership for developing residential project
Dec 30,2016

Godrej Properties has entered into partnership to develop a residential group housing project in the prime locality of Bavdhan, West Pune. Spread over 5.5 acres, the project will offer approximately 52,000 square meters of saleable area and will be developed as a modern residential development comprising of apartments of various configurations. This is the companys 11th project in Pune.

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GE Power India bags contract worth Rs 271.1 crore from BHEL
Dec 30,2016

GE Power India has been awarded a contract worth approximately Rs 271.1 crore (i.e. approximately US $ 40 million) by Bharat Heavy Electricals (BHEL) to supply components and services for the supercritical steam generator island packages for 2x800 MW coal-based Uppur Thermal Power Project (contract value approximately Rs 162.6 crore) and 1x800MW coal-based North Chennai Supercritical Thermal Power Project Stage-III (contract value approximately Rs 108.5 crore). Both the thermal power projects are located in the southern state of Tamil Nadu. This is in line with the governments focus on upgrading the power infrastructure in the country.

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Sun Pharma to be watched after clarification on fire accident
Dec 30,2016

Sun Pharmaceutical Industries (Sun Pharma) clarified after market hours yesterday, 29 December 2016, with respect to news suggesting blast at the companys unit on 28 December 2016. A fire broke out at its Ahmednagar factory during excavation work, causing burn injuries to four workmen at the excavation site. All the four injured workmen were immediately rushed to a nearby Hospital.

Two of the injured workmen succumbed to burn injuries and other two are being treated at the hospital. According to preliminary updates, both of them are responding well to treatment. The company is currently investigating the matter with the help of local law enforcement. There is no loss of production at Ahmednagar factory on account of this incident. This is not a material event nor would have any bearing on the operations/performance of the company, Sun Pharma added.

Jagran Prakashan announced that the meeting of the board of directors of company is scheduled to be held on 5 January 2017, inter-alia, to consider the proposal for buy-back of shares. The announcement was made after market hours yesterday, 29 December 2016.

Godrej Properties announced that it has entered into a partnership to develop a residential group housing project in the prime locality of Bavdhan, West Pune. This project will be developed under the profit share arrangement. The announcement was made before market hours today, 30 December 2016.

GE Power India announced that it has been awarded a contract worth about Rs 271.1 crore by Bharat Heavy Electricals (Bhel) to supply components and services for the supercritical steam generator island packages for 2x800 megawatts (MW) coal-based Uppur thermal power project (contract value about Rs 162.6 crore) and 1x800 MW coal-based North Chennai supercritical thermal power project stage-III (contract value about Rs 108.5 crore). Both the thermal power projects are located in Tamil Nadu. This is in line with the governments focus on upgrading the power infrastructure in the country. The announcement was made before market hours today, 30 December 2016.

Shriram Transport Finance Company announced that the allotment committee-non-convertible debentures (NCDs) of the company in a meeting held yesterday, 29 December 2016, allotted debentures aggregating to Rs 75 crore on private placement basis. The debentures have tenure of 10 years and carry coupon rate of 8.5% per annum. The announcement was made after market hours yesterday, 29 December 2016.

R S Software (India) announced that the company has made further investment of Rs 5.9 crore in Paypermint, its subsidiary, for allotment of 59 lakh equity shares of Rs 10 each. The company is no longer holding the entire shareholdings of Paypermint. The announcement was made after market hours yesterday, 29 December 2016.

Paypermint is into its first year of operations and is operating in the field of online payment facilitation. The acquisition is made to effect growth of subsidiary. The company will hold 75% and 25% will be held by Rajnit Rai Jain in Paypermint.

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Asia Pacific Market: Stocks mixed on weak offshore cues
Dec 29,2016

Asia Pacific share market settled on a mixed note in thin trading on Thursday, 29 December 2016, on tracking Wall Street losses overnight due to weak U.S. home resales data. Trading has been thin across the globe during the last week of the year.

The pullback on Wall Street came amid light volumes and likely reflected caution about what the New Year might bring, given Wednesday was the first session when trades actually settle in January. The Dow fell 0.56%, while the S&P 500 lost 0.84% and the Nasdaq 0.89%.

Contracts to buy previously owned U.S. homes fell in November to their lowest level in nearly a year, which was seen by many as a sign that rising interest rates could be weighing on the housing market. the Pending Home Sales Index, a forward-looking indicator based on contract signings, declined 2.5% to 107.3 in November from 110 in October, data released by National Association of Realtors showed yesterday, 28 December 2016.

In commodity markets, oil came off the boil after data showed a surprise build in US crude inventories. US crude eased 42 cents to $53.64 a barrel, while Brent was last quoted down 16 cents at $55.93.

Among Asian bourses

Australia Market surges to 17 month peak

Australian share market finished slight higher, achieving a 17 months peak after reversing early weakness, with the Gold, Metals & Mining, and Financial sectors led shares higher. The benchmark S&P/ASX200 index gained 0.25% to 5,699.1 points, its highest close since July 31, 2015. Rising stocks outnumbered declining ones on the Australia Stock Exchange by 567 to 374 and 295 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 0.04% to 12.164.

Shares of Gold miners were the best performers after a rise in the precious metals price, with Newcrest Mining adding 3.4% to A$19.26, Northern Star jumping 5.1% to A$3.48, and Evolution Mining gaining 5.2% to A$1.93. Mining stocks were also higher, with Rio Tinto up 56 cents to A$60.74 and BHP Billiton up 6.0 cents to A$25.50.

The property sector weighed on the market, with GPT Group dropping 2.4% to A$4.97, Mirvac shedding 2.3% to A$2.13, and Stockland losing 2.6% to A$4.53.

Woolworths continued to rise after announcing the sale of its petrol business to BP, adding 18 cents to A$24.49, while Coles owner Wesfarmers was 27 cents stronger at A$42.80.

Nikki drop to near three-week low

The Japan share market closed a near three-week low, as risk sentiments dragged down by tracking Wall Street losses overnight and an stronger yen that dragged down export-oriented names. The 225-issue Nikkei average dropped 256.58 points, or 1.32%, to close at 19,145.14. The Topix index of all first-section issues ended down 18.41 points, or 1.20%, at 1,518.39.

The higher yen took a toll on export-oriented names, including automakers Toyota, Fuji Heavy and Mazda, camera maker Canon, industrial robot manufacturer Fanuc and electronic parts supplier Murata Manufacturing.

Financial issues, such as mega-bank groups Mitsubishi UFJ, Mizuho and Sumitomo Mitsui, insurers Dai-ichi Life and Tokio Marine and brokerage firm Nomura, met with selling after their U.S. peers went down in New York on Wednesday.

Toshiba Corp.s shares plunged 17%, their third straight day of double-digit losses after the company said it anticipates huge losses related to its acquisition of Chicago Bridge & Iron.

Shares of Takata Corp., the Japanese air bag manufacturer at the center of a massive recall, surged 16% amid speculation that it will reach a settlement as soon as next month with U.S. authorities on criminal charges related to its air bag troubles.

China Stocks end tad lower

Mainland China stock market closed lower, with optimism spurred by fading liquidity stress overshadowed by continued wary about the prospect of regulatory measures to curb aggressive investment in stocks by insurers. Sector performance was mixed on the mainland, with gains in infrastructure stocks offsetting losses in property stocks. The blue-chip CSI300 index dipped 0.1% to 3,297.76, while the Shanghai Composite Index lost 0.2% to 3,096.10 points.

The market found some solace from progress made to avoid defaults resulting from a recent bond scandal. Sealand Securities said on Thursday it had signed agreements with 19 counterparties to resolve the n++forgedn++ bond dispute. But investors stayed cautious following news that the insurance regulator planned to establish a discriminatory supervision system that would keep a closer watch on some unconventional insurance products, in the latest move to rein in aggressive stock investment.

BlueFocus Communication rose 10% after forecasting 2016 net income that beat analyst estimates.

PetroChina Co. fell for the fourth time in five days in Shanghai trading but remains up more than 4% in December as oil climbed to an 18-month high.

Indonesian shares ends up 2%

Indonesian share market ended up as much as 1.96%, a highest since Nov. 11, helped by financial and consumer stocks, after government promises to provide significant yields next year due to improvement of their fundamentals.

Bank Central Asia, the biggest bank by market value, ended 4.24% higher while automaker Astra International rose 3.83%.

HSI ends up 36 pts

The Hong Kong stock market closed up, as strength in tech stocks outweighed the bearish hint from Wall Street, where stocks lost the most in two months overnight. The market also got support from mainland investors, who spent 3.7 billion yuan buying Hong Kong shares via the Shanghai-Hong Kong Stock Connector scheme. The Hang Seng Index ended up 36 points to 21,790. The H-share index also rose 12 points to 9,312. Turnover increased to HK$52.5 billion from HK$51.5 billion on Wednesday.

Market heavyweights were mixed. China Mobile (00941) nudged up 0.49% to HK$81.45, while HSBC (00005) was unchanged at HK$61.95. Tencent Holding was up 2.2% to HK$187.6, after tech giant statement on Wednesday that the long-awaited Little Program feature of its popular messaging application WeChat would go live on Jan. 9.

Chinas Ministry of Commerce said it will continue boosting auto sales next year. Brilliance China (01114) gained 1.92% to HK$10.62 while BYD Company (01211) rose 1.85% to HK$41.2. Geely Auto (00175) dipped 1.76% to HK$7.25.

Singapore Market ends 0.3% lower

Singapore share market closed 0.3% lower, dragged by financial and industrial stocks. The governments advance estimate of fourth-quarter GDP is due on Tuesday next week.

The biggest losers on the benchmark index were Comfortdelgro Corporation Ltd, down 3.9% to its lowest close in a month, and Singapore Technologies Engineering, down 1.2%.

Sensex, Nifty hit over one-week closing high

Indian stock market end higher due to sudden spurts in buying at the fag end of the trading as December derivatives contracts expired today amid recovery in the rupee. Subdued trend seen in Asian markets after Wall Street suffered a mild setback capped the gains. The Sensex rose 155.47 points or 0.59% to settle at 26,366.15, its highest closing level since 19 December 2016. The Nifty rose 68.75 points or 0.86% to settle at 8,103.60, its highest closing level since 19 December 2016.

IFCI surged 13% after Indias biggest bourse NSE filed its draft prospectus for a Rs 10,000-crore Initial Public Offer (IPO) of equity with the Securities and Exchange Board of India (Sebi).

IRB Infrastructure Developers rose over 2% after the company said it received letter of award from National Highways Authority of India (NHAI) for six-laning of 90 km stretch of National Highway (NH) 79A and NH 79 in Rajasthan.

India Tourism Development Corporation (ITDC) surged 18% ahead of its listing on the National Stock Exchange (NSE) on Friday.

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Hong Kong Market ends up 36 points
Dec 29,2016

The Hong Kong stock market closed up on Thursday, 29 December 2016, as strength in tech stocks outweighed the bearish hint from Wall Street, where stocks lost the most in two months overnight. The market also got support from mainland investors, who spent 3.7 billion yuan buying Hong Kong shares via the Shanghai-Hong Kong Stock Connector scheme. The Hang Seng Index ended up 36 points to 21,790. The H-share index also rose 12 points to 9,312. Turnover increased to HK$52.5 billion from HK$51.5 billion on Wednesday.

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China Stocks end tad lower
Dec 29,2016

Mainland China stock market closed lower on Thursday, 29 December 2016, with optimism spurred by fading liquidity stress overshadowed by continued wary about the prospect of regulatory measures to curb aggressive investment in stocks by insurers. Sector performance was mixed on the mainland, with gains in infrastructure stocks offsetting losses in property stocks. The blue-chip CSI300 index dipped 0.1% to 3,297.76, while the Shanghai Composite Index lost 0.2% to 3,096.10 points.

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Nikki drop to near three-week low
Dec 29,2016

The Japan share market closed a near three-week low on Thursday, 29 December 2016, as risk sentiments dragged down by tracking Wall Street losses overnight and an stronger yen that dragged down export-oriented names. The 225-issue Nikkei average dropped 256.58 points, or 1.32%, to close at 19,145.14. The Topix index of all first-section issues ended down 18.41 points, or 1.20%, at 1,518.39.

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Australia Market gains to 17 month peak
Dec 29,2016

Australian share market finished slight higher on Thursday, 29 December 2016, achieving a 17 months peak after reversing early weakness, with the Gold, Metals & Mining, and Financial sectors led shares higher. The benchmark S&P/ASX200 index gained 0.25% to 5,699.1 points, its highest close since July 31, 2015. Rising stocks outnumbered declining ones on the Australia Stock Exchange by 567 to 374 and 295 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 0.04% to 12.164.

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Capital First gains after boards nod to issue debentures
Dec 29,2016

The announcement was made during market hours today, 29 December 2016.

Meanwhile, the S&P BSE Sensex was up 169.88 points or 0.65% at 26,380.56.

On the BSE, 30,000 shares were traded on the counter so far as against the average daily volumes of 38,888 shares in the past one quarter. The stock had hit a high of Rs 557 and a low of Rs 534.80 so far during the day.

The stock had hit a 52-week high of Rs 796.25 on 28 July 2016 and a 52-week low of Rs 348 on 29 February 2016. It had underperformed the market over the past one month till 28 December 2016, sliding 3.24% compared with the Sensexs 0.53% fall. The scrip had also underperformed the market in past one quarter, declining 24.32% as against the Sensexs 7.36% fall.

The mid-cap company has equity capital of Rs 97.38 crore. Face value per share is Rs 10.

The debentures are proposed to be listed on the debt segment of National Stock Exchange of India (NSE). The tenure of debentures is 3 years from the date of allotment i.e. 29 December 2016. They carry a coupon of 8.15% payable annually and on the date of redemption.

Capital Firsts consolidated net profit rose 40.3% to Rs 57.57 crore on 57.6% rise in total income to Rs 686.32 crore in Q2 September 2016 over Q2 September 2015.

Capital First is a leading financial institution in India focused on providing debt financing to micro small and medium enterprises (MSME) and Indian consumers.

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The Phoenix Mills rose after hiking stake in ISMDPL to 100%
Dec 29,2016

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

Meanwhile, the BSE Sensex was up 151.67 points, or 0.58%, to 26,362.35.

On the BSE, so far 706 shares were traded in the counter, compared with average daily volumes of 2,815 shares in the past one quarter. The stock had hit a high of Rs 373.60 and a low of Rs 364 so far during the day.

The stock hit a 52-week high of Rs 445 on 8 September 2016. The stock hit a 52-week low of Rs 238.30 on 29 February 2016. The stock had underperformed the market over the past 30 days till 28 December 2016, falling 10.40% compared with the 0.69% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, falling 2.81% as against Sensexs 5.81% decline.

The mid-cap company has equity capital of Rs 30.61 crore. Face value per share is Rs 2.

The Phoenix Mills said it acquired 8.72% equity stake in Island Star Mall Developers (ISMDPL) held by Pinnacle Real Estate Development (PREDPL), another wholly-owned subsidiary of Phoenix Mills, on 28 December 2016

Consequently, the direct equity stake of Phoenix Mills in ISMDPL has increased to 100% from 91.28% earlier. ISMDPL continues to remain a wholly-owned subsidiary of the company.

Last week, The Phoenix Mills entered into a share purchase agreement for acquisition of the entire 15.18% stake in its subsidiary Offbeat Developers (ODPL) held by Vistra ITCL (India) and IIRF Holdings X. Further, the company has entered into a share purchase agreement to acquire Eder Rivers entire 4.98% stake in ODPL. Subsequent to the completion of both the aforesaid transactions, the shareholding of The Phoenix Mills in ODPL will increase from 74.48% to 94.64%. The announcement was made after market hours on 19 December 2016.

On a consolidated basis, net profit of Phoenix Mills rose 41.98% to Rs 54.28 crore on 16.22% rise in net sales to Rs 491.08 crore in Q2 September 2016 over Q2 September 2015.

The Phoenix Mills focuses on real estate development and entertainment.

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Lupin inches up after USFDAs tentative nod to market generic drug
Dec 29,2016

The announcement was made during market hours today, 29 December 2016.

Meanwhile, the S&P BSE Sensex was up 99.16 points or 0.38% at 26,309.84.

On the BSE, 91,000 shares were traded on the counter so far as against the average daily volumes of 89,633 shares in the past one quarter. The stock had hit a high of Rs 1,465.10 and a low of Rs 1,452.20 so far during the day.

The stock had hit a 52-week high of Rs 1,911.55 on 9 February 2016 and a 52-week low of Rs 1,294.05 on 29 March 2016. It had underperformed the market over the past one month till 28 December 2016, sliding 3.5% compared with the Sensexs 0.53% fall. The scrip had, however, outperformed the market in past one quarter, declining 4.25% as against the Sensexs 7.36% decline.

The large-cap company has equity capital of Rs 90.29 crore. Face value per share is Rs 2.

Lupin said it has received tentative approval for its Balasalazide Disodium tablets, 1.1 gm from the United States Food and Drug Administration (USFDA) to market a generic version of Salix Pharmaceuticals lncs Giazo tablets, 1.1 gm. The filing is from Lupins Goa manufacturing facility.

Lupins Balasalazide Disodium tablets are the AB rated generic equivalent of Saiix Pharmaceuticals lncs Giazo tablets. Balasalazide Disodium tablets are indicated for the treatment of mildly to moderately active ulcerative colitis in male patients 18 years of age and older. Giazo tablets had annual US sales of $0.79 million (IMS MAT September 2016).

Lupins consolidated net profit rose 57.8% to Rs 662.19 crore on 31.9% rise in net sales to Rs 4211.18 crore in Q2 September 2016 over Q2 September 2015.

Lupin is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally. The Company is a significant player in the Cardiovascular, Diabetology, Asthma, Pediatric, CNS, GI, Anti-infective and NSAID space and holds global leadership position in the Anti-TB segment.

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