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Wipro allots equity shares
Dec 26,2016

Wipro has allotted 1637 equity shares under ADS RSU Plan 2004 to the employees on 23 December 2016 pursuant to exercise of ESOPs.

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McDonalds to open its 1st restaurant in Kollam, Kerala
Dec 26,2016

Westlife Development announced the opening of the first McDonalds restaurant in Kollam on 28 December 2016. This marks the opening of 97th restaurant for the chain in South India and 8th in the state of Kerala.

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Asian Oilfield drops on profit booking
Dec 26,2016

Meanwhile, the S&P BSE Sensex was down 267.39 points or 1.03% at 25,773.31.

On the BSE, 46,000 shares were traded on the counter so far as against the average daily volumes of 1.38 lakh shares in the past one quarter. The stock had hit a high of Rs 115.75 and a low of Rs 108.50 so far during the day.

The stock had hit a 52-week high of Rs 124 on 14 December 2016 and a 52-week low of Rs 27.90 on 12 February 2016. It had outperformed the market over the past one month till 23 December 2016, advancing 54.64% compared with the Sensexs 0.04% fall. The scrip had also outperformed the market in past one quarter, surging 90.22% as against the Sensexs 9.17% fall.

The small-cap company has equity capital of Rs 22.32 crore. Face value per share is Rs 10.

Shares of Asian Oilfield Services surged 9.2% to settle at Rs 115.75 on Friday, 23 December 2016 after the company announced after market hours on 22 December 2016 that it has scheduled a board meeting on 27 December 2016, to consider allotment of warrants.

Meanwhile, the companys shareholders at its extraordinary general meeting (EGM) held on Friday, 23 December 2016, approved issue of up to 1.45 crore warrants of Rs 80 each in one or more tranches to a promoter entity Oilmax Energy (1 crore warrants ) and a non-resident investor Balram Chainrai (45 lakh warrants). The warrants are convertible into equity shares at an issue price of Rs 80 per warrant, at any time within 18 months from the date of allotment of the warrants.

Asian Oilfield Services reported consolidated net loss of Rs 11.12 crore in Q2 September 2016 as against net profit of Rs 4.09 crore in Q2 September 2015. Net sales declined 94.7% to Rs 3.09 crore in Q2 September 2016 over Q2 September 2015.

Asian Oilfield Services is engaged in providing geophysical, drilling and well services to customers across the Indian sub-continent.

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102 Villages Electrified Last Week; 11,429 Villages Electrified till date under DDUGJY
Dec 26,2016

102 villages have been electrified across the country during last week (from 19thto 25thDecember 2016) under Deen Dayal Upadhyaya Gram Jyoti Yojna (DDUGJY). Out of these electrified villages, 17 villages belong to Assam, 9 to Bihar, 10 to Chhattisgarh, 29 to Jharkhand, 5 to Manipur, 30 to Odisha and 1 each to Madhya Pradesh and Rajasthan.

In view of the Prime Minister, Shri Narendra Modis address to nation, on Independence Day, Government of India has decided to electrify remaining 18,452 un-electrified villages within 1000 days i.e. by 01 May, 2018. The project has been taken on mission mode and strategy for electrification consists of squeezing the implementation schedule to 12 months and also dividing village electrification process in 12 Stage milestones with defined timelines for monitoring.

11,429 villages have been electrified till date. Out of remaining 7,023 villages, 698 villages are uninhabited. 3,775 villages are to be electrified through grid, 2,502 villages to be electrified through off-grid where grid solutions are out of reach due to geographical barriers and 48 villages are to be electrified by State Government.

Total 1654 villages were electrified during April 2015 to 14 August 2015 and after taking initiative by Government of India for taking it on mission mode, 9,775 additional villages have been electrified from 15thAugust 2015 to 25thDecember, 2016. In order to expedite the progress further, a close monitoring is being done through Gram Vidyut Abhiyanta (GVA) and various actions are also being taken on regular basis like reviewing the progress on monthly basis during the RPM meeting, sharing of list of villages which are at the stage of under energization with the state DISCOM, identifying the villages where milestone progress are delayed.

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Panacea Biotec gains after launching fully-liquid vaccine
Dec 26,2016

The announcement was made during trading hours today, 26 December 2016.

Meanwhile, the BSE Sensex was down 229.51 points, or 0.88%, to 25,811.19.

On the BSE, so far 31,000 shares were traded in the counter, compared with average daily volumes of 16,189 shares in the past one quarter. The stock had hit a high of Rs 127 and a low of Rs 110.10 so far during the day.

The stock hit a 52-week high of Rs 155 on 25 July 2016. 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 23 December 2016, rising 3.19% compared with the 0.70% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 7.03% as against Sensexs 9.17% decline.

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

Panacea Biotec announced launch of Tetravalent Vaccine Easyfour-TT for active primary immunization and booster dose against diphtheria, tetanus and pertussis (DTP) and Haemophilus Influenza Type B (Hib).

Panacea Biotec is committed to protect children from vaccine-preventable diseases, Easyfour TT (DTwP-Hib), worlds first fully liquid Tetravalent vaccine launch in India will protect infant from Dn++ptheria, Tetanus, Whopping Cough, Hib-Meningitis.

Easyfour-TT is a sterile and uniform suspension, manufactured using CDAP technology with WHO pre-qualified antigens which ensures good quality, high immurogenicity and less reactogenicity. Being fully liquid, product requires, no reconstitution, therefore saves time and minimizes chance of error. Easyfour-TT comes with a legacy of being a tried and tested brand in pediatric clinical trials ensuring good ethnic response with a better reactogenicity profile.

Panacea Biotec reported net loss of Rs 11.84 crore in Q2 September 2016 as against net loss of Rs 17 crore in Q2 September 2015. Net sales declined 18.3% to Rs 131.56 crore in Q2 September 2016 over Q2 September 2015.

Panacea Biotec is one of Indias leading research based health management companies with established research, manufacturing and marketing capabilities.

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SREI Equipment Finance to raise up to Rs 500 crore in public issue of NCDs
Dec 26,2016

SREI Infrastructure Finance announced that its subsidiary, SREI Equipment Finance is proposing a public issue of secured redeemable non-convertible debentures of face value of Rs 1000 each amounting up to Rs 500 crore. The issue opens on 03 January 2017 and will close on 20 January 2017.

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Rabi Crops Sowing Crosess 554 Lakh Hactare
Dec 26,2016

As per preliminary reports received from the States, the total area sown under Rabi crops as on 23rd December, 2016 stands at 554.91 lakh hectares as compared to 523.40 lakh hectare this time in 2015.

Wheat has been sown/transplanted in 278.62 lakh hectares, rice in 9.33 lakh hectares, pulses in 138.25 lakh hectares, coarse cereals in 50.63 lakh hectares and area sown under oilseeds is 78.08 lakh hectares.

The area sown so far and that sown during last year this time is as follows:

Lakh hectare 

CropArea sown in 2016-17Area sown in 2015-16Wheat278.62259.37Rice9.3313.27Pulses138.25125.73Coarse Cereals50.6354.91Oilseeds78.0870.12Total554.91523.40

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CII-Triveni Water Institute inks MoU with the Water Research Center, Tel Aviv University, on Improving Indian Water Scenario across States and Regions
Dec 26,2016

CII-Triveni Water Institute, CIIs Center of Excellence on Water and the Water Research Center, Tel Aviv University, Israel, entered into Memorandum of Understanding, during the 9th India-Israel Forum. The MoU was signed by Mr Chandrajit Banerjee, Director General, CII, and Prof Joseph Klafter, President, Tel Aviv University.

The MoU enhances cooperation of the two countries on planning, designing, and implementing new and innovative tools and technologies that improve management of water in India. It identifies opportunities and geographical areas where WRC-TAU and CII-TWI will pool expertise and derive workable, scalable solutions in the water sector in India, for the benefit of the community at large. This includes technology, management, policy reforms and advance tools and techniques.

It covers various sectors namely, irrigation, industry, domestic water use, wastewater management, municipal sewage recycle, improving water use efficiency, training and capacity building, and most importantly implementing of strategies in drought prone areas of India. CII-Triveni Water Institute and Water Research Center, TAU together will work towards improving the water scenario across several states and regions of India.

Prof Klafter, TAU, mentioned that learnings from Israel, customized and applied to water sector in India will further strengthen the bilateral ties between the two countries. Political will and scientific considerations will lead to successful applications. In situ treatment technologies will also have a key role to play on a decentralized basis.

Mr Nikhil Sawhney, Member, Advisory Board, CII-Triveni Water Institute, and Managing Director, Triveni Turbine, mentioned that models of Public Private Partnerships, Awareness Generation, Policy reforms and Pricing that were applied and helped convert a desert country like Israel into Water surplus country will be further studied for adoption in India. The MoU would help advancing these.

Mr Chandrajit Banerjee, Director General, CII, said that the MoU opens doors to new state-of-the-art techniques and technologies that will be customized and implemented. He mentioned that combination of Intelligent Policy, Advanced Technology, and Stakeholder Participation will certainly bring about the much desired change in the sector. CIIs WATSCAN, Water Scanning Tool, will be used and further strengthened for selection, and implementation of Water management strategies in the country.

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Panacea Biotec launches Tetravalent Vaccine Easyfour-TT
Dec 26,2016

Panacea Biotec announced the launch of Tetravalent Vaccine Easyfour-TT for active primary immunization and booster dose against diphtheria, tetanus and pertussis (DTP) and Haemophilus Influenza Type B(Hib).

Easyfour-TT, worlds first fully liquid Tetravalent vaccine launched in India, will protect infant from Diptheria, Tetanus, Whopping Cough and Hib-Meningitis.

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Welspun Enterprises gains after board approves divesting stake in Welspun Energy
Dec 26,2016

The announcement was made on Saturday, 24 December 2016.

Meanwhile, the BSE Sensex was down 230.23 points, or 0.88%, to 25,810.47.

On the BSE, so far 2.33 lakh shares were traded in the counter, compared with average daily volumes of 1.23 lakh shares in the past one quarter. The stock had hit a high of Rs 63.40 and a low of Rs 60.30 so far during the day.

The stock hit a 52-week high of Rs 75.30 on 3 November 2016. The stock hit a 52-week low of Rs 43 on 12 February 2016. The stock had outperformed the market over the past 30 days till 23 December 2016, rising 3.03% compared with the 0.70% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 7.47% as against Sensexs 9.17% decline.

The small-cap company has equity capital of Rs 174.28 crore. Face value per share is Rs 10.

Welspun Enterprises (WEL) announced that the board of directors of the company has approved sale of its entire investment of 6.04 crore equity shares, representing 15.49% stake, in the paid up equity share capital of Welspun Energy.

Post sale of its renewable business, WELs 15.49% minority stake in Welspun Energy does not contribute to the consolidated results of the company. In order to unlock value for the company, the board of WEL authorised the monetization of this stake, subject to shareholders approval.

As against its investment of Rs 91.10 crore, the stake is proposed to be sold to Welshop Trading, for a consideration of approximately Rs 290 crore plus contingent consideration, thereby implying more than three times returns to the company on its investment.

In addition to buying out WELs stake, Welshop Trading, part of Welspun Group, has agreed to buy out the stake of other shareholders in Welspun Energy at equivalent consideration.

Last week, Welspun Enterprises announced that it plans to buyback up to 25% of its share capital at Rs 62 per share. With a view of utilising the companys substantial cash reserves and in order to enhance shareholder value, the companys board approved buy back of 25% of the companys share capital. The buyback would be at Rs 62 per share in cash for an aggregate consideration not exceeding Rs 270 crore. The promoter group, except the foreign co-promoters holding 2.17%, have indicated their intention to participate in the proposed buyback. The announcement was made after market hours on Thursday, 22 December 2016.

Net profit of Welspun Enterprises rose 116.67% to Rs 2.86 crore on 16.9% rise in net sales to Rs 33.22 crore in Q2 September 2016 over Q2 September 2015.

Welspun Enterprises (WEL), formerly Welspun Projects, part of the Welspun Group, is an operating the company in the infrastructure business. The company also has investments in oil & gas exploration. The company, in its current form was created through the merger of Welspun Enterprises, Welspun Infratech, Welspun Plastics and Welspun Infra Projects with Welspun Projects through the scheme of amalgamation and arrangement made effective from 11 May 2015.

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Deepak Nitrite extends falling trend despite Reliance MFs buying
Dec 26,2016

Meanwhile, the S&P BSE Sensex was down 220.40 points or 0.85% at 25,820.30.

On the BSE, 1.10 lakh shares were traded on the counter so far as against the average daily volumes of 59,159 shares in the past one quarter. The stock had hit a high of Rs 87.25 and a low of Rs 75.80 so far during the day.

The stock had hit a record high of Rs 134.25 on 9 September 2016 and a 52-week low of Rs 56.10 on 12 February 2016. It had underperformed the market over the past one month till 23 December 2016, sliding 8.03% compared with the Sensexs 0.04% fall. The scrip had also underperformed the market in past one quarter, declining 30.06% as against the Sensexs 9.17% fall.

The small-cap company has equity capital of Rs 23.26 crore. Face value per share is Rs 2.

Shares of Deepak Nitrite tumbled 15.69% in seven straight trading sessions from its close of Rs 99.10 on 15 December 2016.

On Friday, 23 December 2016, Quest Investment Advisors sold 35.35 lakh shares of Deepak Nitrite at an average price of Rs 85.12 per share in bulk deals on the NSE. Reliance Mutual Fund-Reliance Small Cap Fund bought 35.73 lakh shares at Rs 85.06 a piece. Quest is an investment management services firm.

Deepak Nitrites net profit rose 4.3% to Rs 15.41 crore on 10.6% decline in net sales to Rs 299.07 crore in Q2 September 2016 over Q2 September 2015.

Deepak Nitrite is a multi-division and multi-product company. The companys portfolio is a wide spectrum of products with diverse applications ranging from agrochemicals, rubber, pharmaceuticals, paper, textile, detergent, colourants, petrochemicals to speciality and fine chemicals.

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Lupin receives tentative approval for Olmesartan Medoximil Tablets
Dec 26,2016

Lupin has received tentative approval for its Olmesartan Medoximil Tablets 5mg, 20mg and 40mg from the United States Food and Drug Administration to market generic version of Daiichi Sankyo Incs Benicarn++ Tablets 5mg, 20mg and 40mg.

Olmesartan Medoximil Tablets are indicated for the treatment of hypertension, along or with other antihypertensive agents to lower blood pressure.

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Board of Jainco Projects (India) to conduct business review
Dec 26,2016

Jainco Projects (India) announced that the meeting of Board of Directors of the Company will be held on 30 December 2016, for general discussion on the working of the company and to review the progress of the Company.

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Let FCI, other Govt bodies issue transferrable instruments to farmers to mitigate note ban distress: ASSOCHAM
Dec 26,2016

In order to mitigate the problems of farmers and those engaged in allied activities like poultry farming and horticulture, arising out of the demonetization, the ASSOCHAM has suggested issuance of Transferrable Receipts (TRs) by agencies like the Food Corporation of India (FCI), National Agricultural Cooperative Marketing Federation of India (NAFED) and other Central and state entities against procurement of the farm produce.

n++In the first place, the government should instruct FCI and other central agencies like NAFED to procure a whole lot of farm produce and issue the farmers/growers TRs which should be then honoured at all the farm related stores. These TRs can become some kind of Paytm tools and be then aggregated by one nodal agency; preferably FCI,n++ the ASSOCHAM said.

It said with the help of the state governments, the TRs should be allowed to trade without much hassles, maybe upto a limit of Rs 50,000. Since these instruments are to be originated at the FCI level, it would be easy for the Central Government to guard against its misuse for exchange of scrapped money. In any case, most of the scrapped notes have returned into the banking system and now the problem largely relates to shortage of new currency.

n++Likewise, the TRs can also be issued by some agencies like Tea Board, Fisheries boards, Jute Boards and Rubber Boards and then some of the retail chains can be roped in for honouring the same. It would also work on the model of Sodexo lunch coupons n++, said ASSOCHAM Secretary General Mr D S Rawat.

He said with most of the products being decanlised , even state owned companies like the State Trading Corporation should join the FCI in this operation, while the MMTC which had remained engaged in fertilizer imports can be useful in reaching out to farmers directly or through cooperative stores for supply of urea or other nutrients in exchange of the TRs.

n++We urge the Prime Ministers Office, the Agriculture Ministry, the Finance Ministry, Commerce Ministry and the Reserve Bank of India to work on this model in a matter of few days, along with the state agencies,n++ the chamber said.

It said some of the marginal farmers and growers of horticulture produce are facing the problem of selling their produce with the unscrupulous elements taking advantage of the situation. n++Extra ordinary situation demands extra-ordinary solutions; so this model of TRs should be tried so that the farm distress is mitigated and wide support is forthcoming for the bigger war against black money and corruptionn++, Mr Rawat said.

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Camlin Fine Sciences gains on acquisition plan
Dec 26,2016

The announcement was made after market hours on Friday, 23 December 2016.

Meanwhile, the BSE Sensex was down 209.30 points, or 0.80%, to 25,831.40.

On the BSE, so far 66,000 shares were traded in the counter, compared with average daily volumes of 2.10 lakh shares in the past one quarter. The stock had hit a high of Rs 103.10 and a low of Rs 98.95 so far during the day.

The stock hit a 52-week high of Rs 119.60 on 26 October 2016. The stock hit a 52-week low of Rs 76.10 on 29 February 2016. The stock had underperformed the market over the past 30 days till 23 December 2016, falling 5.85% compared with the 0.70% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 14.27% as against Sensexs 9.17% decline.

The small-cap company has equity capital of Rs 10.33 crore. Face value per share is Re 1.

Camlin Fine Sciences said it entered into share purchase agreement to acquire 51% stake in Chinas Ningbo Wanglong Flavors & Fragrances Company (NWFFCL). The cost of proposed acquisition will be disclosed after the completion of the transaction, it added. The acquisition is subject to Reserve Bank of Indias (RBI) approval and will get completed on or before 30 June 2017.

NWFFCL was incorporated on 20 November 2015 and is a part of proposed joint venture with Wanglong Group Company. Ningbo is engaged in research, development and manufacture of flavours and fragrances products (Vanillin); import and export of goods and technologies.

On a consolidated basis, Camlin Fine Sciences reported net loss of Rs 0.80 crore in Q2 September 2016 as against net profit of Rs 5.06 crore in Q2 September 2015. Net sales declined 3.97% to Rs 109.14 crore in Q2 September 2016 over Q2 September 2015.

Camlin Fine Sciences is a provider of high-quality shelf life extension solutions including antioxidants, aroma ingredients and performance chemicals.

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