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Jindal Steel moves higher on preferential allotment plan
Mar 28,2017

The announcement was made after market hours yesterday, 27 March 2017.

Meanwhile, the S&P BSE Sensex was up 132.01 points or 0.45% at 29,369.16.

On the BSE, 4.42 lakh shares were traded on the counter so far as against the average daily volumes of 22.94 lakh shares in the past one quarter. The stock had hit a high of Rs 121.05 and a low of Rs 117.75 so far during the day.

The stock had hit a 52-week high of Rs 131.80 on 17 March 2017 and a 52-week low of Rs 55.65 on 30 March 2016. It had underperformed the market over the past one month till 27 March 2017, sliding 6.5% compared with the Sensexs 1.47% rise. The scrip had, however, outperformed the market over the past one quarter, gaining 75.24% as against the Sensexs 11.53% rise.

The large-cap company has equity capital of Rs 91.50 crore. Face value per share is Rs 1.

Jindal Steel & Power (JSPL) said that a meeting of the board of directors of the company is scheduled to be held on 30 March 2017, to consider various modes of fund raising by way of preferential allotment of securities to different entities including the promoters/promoter group entities.

On a consolidated basis, JSPL reported net loss of Rs 407.44 crore in Q3 December 2016 as against net loss of Rs 573.48 crore in Q3 December 2015. Net sales rose 28.1% to Rs 5296.80 crore in Q3 December 2016 over Q3 December 2015.

Jindal Steel and Power (JSPL) is one of Indias leading integrated steel manufacturers, significantly present in steel, power generation and Infrastructure segments and catering to a large part of Indias domestic energy and infrastructure requirement.

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Kotak Mahindra advances on equity capital raising plans
Mar 28,2017

The announcement was made after market hours yesterday, 27 March 2017.

Meanwhile, the S&P BSE Sensex was up 118.83 points or 0.41% at 29,355.98.

On the BSE, 5,172 shares were traded on the counter so far as against the average daily volumes of 6.98 lakh shares in the past one quarter. The stock had hit a high of Rs 880 and a low of Rs 873.50 so far during the day.

Kotak Mahindra Bank said that the banks board of directors scheduled a meeting on 30 March 2017 to consider raising of equity capital by the bank through rights issue, private placement, follow-on public offering (FPO), qualified institutions placement (QIP), global depository receipts (GDR), American depository receipts (ADR) or through any other permissible mode or a combination thereof, as may be considered appropriate.

Kotak Mahindra Banks net profit rose 38.6% to Rs 879.76 crore on 11.02% growth in total income to Rs 5377.83 crore in Q3 December 2016 over Q3 December 2015.

Kotak Mahindra Bank is one of the leading private sector banks in India.

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Hero MotoCorp drops amid volatility
Mar 27,2017

Meanwhile, the S&P BSE Sensex was down 180.11 points or 0.61% at 29,241.29.

On the BSE, 21,000 shares were traded on the counter so far as against the average daily volumes of 44,942 shares in the past one quarter. The stock lost as much as 1.92% at the days low of Rs 3,311.60 so far during the day. The stock rose as much as 0.6% at the days high of Rs 3,397 so far during the day.

The stock had hit a record high of Rs 3,739.90 on 8 September 2016 and a 52-week low of Rs 2,829 on 6 May 2016. It had outperformed the market over the past one month till 24 March 2017, surging 6.28% compared with the Sensexs 1.83% rise. The scrip had, however, underperformed the market over the past one quarter, gaining 11.22% as against the Sensexs 12.98% rise.

The large-cap company has equity capital of Rs 39.94 crore. Face value per share is Rs 2.

Brij Mohan Lal Om Prakash sold 88.78 lakh shares of Hero MotoCorp to Bahadur Chand Investments at Rs 3,375 per share in a bulk deal on the NSE on Friday, 24 March 2017.

Bahadur Chand Investments owned 11.11% and Brij Mohan Lal Om Prakash Partnership controlled 22.88% stake end December 2016.

Hero MotoCorps net profit fell 2.7% to Rs 772.05 crore on 12.1% decline in net sales to Rs 6245.90 crore in Q3 December 2016 over Q3 December 2015.

Hero MotoCorp is the worlds largest two-wheeler manufacturer in terms of production capacity. The company has six manufacturing plants, including five in India including Dharuhera, Gurgaon, Haridwar, Neemrana and Halol and one in Colombia.

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Sadbhav Infrastructure rises after winning road project
Mar 27,2017

The announcement was made during market hours today, 27 March 2017.

Meanwhile, the S&P BSE Sensex was down 170.18 points, or 0.58% to 29,251.22. The S&P BSE Mid-Cap index was down 39.62 points or 0.29% to 13,809.56.

On the BSE, 9,832 shares were traded in the counter so far, compared with average daily volumes of 10,002 shares in the past one quarter. The stock had hit a high of Rs 103.90 and a low of Rs 99.50 so far during the day. The stock had hit a record high of Rs 120.40 on 22 September 2016. The stock had hit a 52-week low of Rs 81.05 on 9 November 2016.

The stock had outperformed the market over the past one month till 24 March 2017, rising 9.01% compared with the 1.83% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 8.31% as against Sensexs 12.98% gains.

The mid-cap company has equity capital of Rs 352.23 crore. Face value per share is Rs 10.

Sadbhav Infrastructure said that the project is for six laning of greenfield proposed Udaipur bypass at Kaya village on hybrid annuity mode, package-IV under the National Highways Development Project (NHDP) Phase V in the state of Rajasthan.

The length of the project is 23.88 kilometers and construction period is 730 days from the appointed date. The operation period is 15 years from the commercial operation date (COD).

On a consolidated basis, Sadbhav Infrastructure Projects reported net loss of Rs 66.35 crore in Q3 December 2016 as against net loss of Rs 139.51 crore in Q3 December 2015. Net sales declined 36% to Rs 322.14 crore in Q3 December 2016 over Q3 December 2015.

Sadbhav Infrastructure Project is into development, operation and maintenance of road infrastructure assets. It undertakes turnkey contractual works and other than civil construction of the projects.

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DRL inches up after pact with Integra LifeSciences
Mar 27,2017

The announcement was made during market hours today, 27 March 2017.

Meanwhile, the S&P BSE Sensex was down 132.74 points or 0.45% at 29,288.66.

On the BSE, 15,000 shares were traded on the counter so far as against the average daily volumes of 42,436 shares in the past one quarter. The stock had hit a high of Rs 2,649.40 and a low of Rs 2,617.95 so far during the day.

The stock had hit a 52-week high of Rs 3,689 on 20 July 2016 and a 52-week low of Rs 2,560 on 22 March 2017. It had underperformed the market over the past one month till 24 March 2017, sliding 9.24% compared with the Sensexs 1.83% rise. The scrip had also underperformed the market over the past one quarter, declining 12.65% as against the Sensexs 12.98% rise.

The large-cap company has equity capital of Rs 82.87 crore. Face value per share is Rs 5.

Dr Reddys Laboratories (DRL) and Integra LifeSciences Holdings Corporation, a leading global medical technology company, announced that they have entered into an exclusive distribution agreement. Under the agreement, DRL will market and distribute DuraGen Plus and Suturable DuraGen Dural Regeneration Matrices for use in patients in India.

M. V. Ramana, Executive Vice President and Head of Emerging Markets & India Business, DRL said, the company is delighted to partner with Integra LifeSciences. With the launch of DuraGen, it looks forward to building its presence in the segment of regenerative technologies and making a difference to the lives of patients undergoing neurosurgery.

Dr Reddys Laboratories consolidated net profit fell 15.9% to Rs 492.30 crore on 6.6% fall in net sales to Rs 3706.50 crore in Q3 December 2016 over Q3 December 2015.

Dr Reddys Laboratories is an integrated global pharmaceutical company.

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KEC International leads losers in A group
Mar 27,2017

KEC International tumbled 6.19% to Rs 195.60 at 13:45 IST on profit booking. The stock topped the losers in the BSEs A group. On the BSE, 1.86 lakh shares were traded on the counter so far as against the average daily volumes of 1.75 lakh shares in the past two weeks. The stock had surged 21.18% to Rs 208.50 on 24 March 2017 in five sessions, from a close of Rs 172.05 on 17 March 2017.

JSW Steel skidded 4.34% at Rs 178.75. The stock was second biggest loser in A group. On the BSE, 1.1 crore shares were traded on the counter so far as against the average daily volumes of 4.36 lakh shares in the past two weeks.

Jindal Steel & Power dropped 3.76% to Rs 115.25. The stock was third biggest loser in A group. On the BSE, 14.21 lakh shares were traded on the counter so far as against the average daily volumes of 18.14 lakh shares in the past two weeks.

Ajanta Pharma slipped 3.37% at Rs 1,765.80. The stock was fourth biggest loser in A group. On the BSE, 9,307 shares were traded on the counter so far as against the average daily volumes of 12,000 shares in the past two weeks.

Idea Cellular fell 3.36% to Rs 87.80. The stock was fifth biggest loser in A group. On the BSE, 18.55 lakh shares were traded on the counter so far as against the average daily volumes of 75.29 lakh shares in the past two weeks.

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Volumes jump at Amrapali Industries counter
Mar 27,2017

Amrapali Industries clocked volume of 1.66 crore shares by 13:44 IST on BSE, a 9,601.77-times surge over two-week average daily volume of 2,000 shares. The stock rose 4.76% at Rs 4.18.

Oracle Financial Services Software (OFSS) notched up volume of 85.61 lakh shares, a 5,207.32-fold surge over two-week average daily volume of 2,000 shares. The stock was up 0.25% at Rs 3,826.

RPG Life Sciences saw volume of 52.17 lakh shares, a 1,203.55-fold surge over two-week average daily volume of 4,000 shares. The stock jumped 11.05% at Rs 474.

Siti Network clocked volume of 1.91 crore shares, a 355.35-fold surge over two-week average daily volume of 54,000 shares. The stock was up 3.29% at Rs 39.20.

8K Miles Software Services saw volume of 14.06 lakh shares, a 188.92-fold rise over two-week average daily volume of 7,000 shares. The stock was up 0.44% at Rs 610.80.

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Cummins India advances on brokerage rating
Mar 27,2017

Meanwhile, the S&P BSE Sensex was down 225.47 points or 0.77% at 29,195.93.

On the BSE, 9,258 shares were traded on the counter so far as against the average daily volumes of 24,399 shares in the past one quarter. The stock had hit a high of Rs 943.75 and a low of Rs 930.90 so far during the day.

The stock had hit a 52-week high of Rs 946.50 on 9 September 2016 and a 52-week low of Rs 746.80 on 26 May 2016. It had outperformed the market over the past one month till 24 March 2017, advancing 4.52% compared with the Sensexs 1.83% rise. The scrip had also outperformed the market over the past one quarter, gaining 15.61% as against the Sensexs 12.98% rise.

The large-cap company has equity capital of Rs 55.44 crore. Face value per share is Rs 2.

Cummins Indias net profit rose 11.3% to Rs 198.09 crore on 19.6% growth in net sales to Rs 1324.13 crore in Q3 December 2016 over Q3 December 2015.

Cummins India is a leading manufacturer of diesel and natural gas engines for power generation, industrial and automotive markets.

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Corporation Bank rises after raising funds through issue of bonds
Mar 27,2017

The announcement was made after market hours on Friday, 24 March 2017.

Meanwhile, the S&P Sensex was down 152.73 points, or 0.52% at 29,268.67. The S&P BSE Mid-Cap index was down 16.70 points, or 0.12% at 13832.48.

On the BSE, 57,000 shares were traded on the counter so far as against the average daily volumes of 1.06 lakh shares in the past one quarter. The stock had hit a high of Rs 49.35 and a low of Rs 48.15 so far during the day.

The stock had hit a 52-week high of Rs 57 on 7 February 2017 and a 52-week low of Rs 34 on 3 June 2016. The stock had outperformed the market over the past one month till 24 March 2017, advancing 2.77% compared with the Sensexs 1.83% rise. The scrip had also outperformed the market over the past one quarter advancing 17.30% as against the Sensexs 12.98% rise.

The mid-cap bank has equity capital of Rs 229.41 crore. Face value per share is Rs 2.

Corporation Bank said that it has raised the full amount of Rs 500 crore of the Basel III Compliant Additional Tier-I Perpetual Bonds [Series II]. The Securities Allotment Committee of the board of the bank has allotted the bonds on 24 March 2017 to the respective Bond investors with a coupon rate of 10.28% per annum.

Corporation Bank reported net profit of Rs 159.02 crore in Q3 December 2016, as against net loss of Rs 388.38 crore in Q3 December 2015. Total income rose 13.2% to Rs 5839.56 crore in Q3 December 2016 over Q3 December 2015.

Government of India holds 70.77% stake in Corporation Bank (as on 31 December 2016).

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Corporation Bank moves north after raising funds through issue of bonds
Mar 27,2017

The announcement was made after market hours on Friday, 24 March 2017.

Meanwhile, the S&P Sensex was down 152.73 points, or 0.52% at 29,268.67. The S&P BSE Mid-Cap index was down 16.70 points, or 0.12% at 13832.48.

On the BSE, 57,000 shares were traded on the counter so far as against the average daily volumes of 1.06 lakh shares in the past one quarter. The stock had hit a high of Rs 49.35 and a low of Rs 48.15 so far during the day.

The stock had hit a 52-week high of Rs 57 on 7 February 2017 and a 52-week low of Rs 34 on 3 June 2016. The stock had outperformed the market over the past one month till 24 March 2017, advancing 2.77% compared with the Sensexs 1.83% rise. The scrip had also outperformed the market over the past one quarter advancing 17.30% as against the Sensexs 12.98% rise.

The mid-cap bank has equity capital of Rs 229.41 crore. Face value per share is Rs 2.

Corporation Bank said that it has raised the full amount of Rs 500 crore of the Basel III Compliant Additional Tier-I Perpetual Bonds [Series II]. The Securities Allotment Committee of the board of the bank has allotted the bonds on 24 March 2017 to the respective Bond investors with a coupon rate of 10.28% per annum.

Corporation Bank reported net profit of Rs 159.02 crore in Q3 December 2016, as against net loss of Rs 388.38 crore in Q3 December 2015. Total income rose 13.2% to Rs 5839.56 crore in Q3 December 2016 over Q3 December 2015.

Government of India holds 70.77% stake in Corporation Bank (as on 31 December 2016).

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Subros advances on fund raising plans
Mar 27,2017

The announcement was made during market hours today, 27 March 2017.

Meanwhile, the BSE Sensex was down 207.00 points, or 0.7%, to 29,214.40. The S&P BSE Small-Cap index was down 18 points or 0.13% to 14,059.61.

On the BSE, 1,809 shares were traded in the counter so far, compared with an average volume of 21,558 shares in the past one quarter. The stock had hit a high of Rs 197.40 and a low of Rs 187.20 so far during the day. The stock had hit a record high of Rs 205.90 on 20 February 2017. The stock had hit a 52-week low of Rs 77.50 on 30 May 2016.

The stock had underperformed the market over the past one month till 24 March 2017, falling 3.6% compared with the 1.83% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 24.64% as against Sensexs 12.98% gains.

The small-cap company has an equity capital of Rs 12 crore. Face value per share is Rs 2.

Subros said that a meeting of the board of directors of the company will be held on 29 March 2017, to consider a proposal to issue secured/unsecured, redeemable, non-convertible debentures on private placement basis, for an amount as may be decided by the board.

Subros net profit tumbled 45.6% to Rs 3.27 crore on 12.7% rise in net sales to Rs 369.94 crore in Q3 December 2016 over Q3 December 2015.

Subros is an automotive air conditioning systems and thermal products for automotive applications maker. Subros manufactures compressors condensers, heat exchangers and all connecting elements required to complete AC loop and caters to all segments viz. passenger vehicles, buses, trucks, refrigeration transport, & railways.

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Westlife Development moves higher on brokerage coverage
Mar 27,2017

Meanwhile, the S&P BSE Sensex was down 211.54 points or 0.72% at 29,209.86. The BSE Mid-Cap index was down 38.69 points or 0.28% at 13,810.49.

On the BSE, 2.74 lakh shares were traded on the counter so far as against the average daily volumes of 1.39 lakh shares in the past one quarter. The stock had hit a high of Rs 222.90 and a low of Rs 214 so far during the day.

The stock had hit a 52-week high of Rs 259.90 on 5 July 2016 and a 52-week low of Rs 152 on 23 December 2016. It had underperformed the market over the past one month till 24 March 2017, sliding 0.26% compared with the Sensexs 1.83% rise. The scrip had, however, outperformed the market over the past one quarter, gaining 26.43% as against the Sensexs 12.98% rise.

The mid-cap company has equity capital of Rs 31.11 crore. Face value per share is Rs 2.

Meanwhile, Westlife Development after market hours on Friday, 24 March 2017, announced that its board of directors approved the proposal of investment in the equity shares offered on rights basis to the company by Hardcastle Restaurants, against inter corporate loan borrowed by it from the company. Hardcastle Restaurants is a wholly owned subsidiary of Westlife Development.

On consolidated basis, Westlife Development reported net loss of Rs 1.71 crore in Q3 December 2016 compared with net profit of Rs 0.23 crore in Q3 December 2015. Net sales rose 13.2% to Rs 238.04 crore in Q3 December 2016 over Q3 December 2015.

Westlife Development has widespread interests in trading, hospitality and quick service restaurant industry.

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HCL Tech trips after client files lawsuit
Mar 27,2017

The company issued the clarification on Saturday, 25 March 2017 with regards to news item appearing in the media.

Meanwhile, the S&P Sensex was down 154.34 points or 0.52% at 29,267.06.

On the BSE, 6,957 shares were traded on the counter so far as against the average daily volumes of 2.1 lakh shares in the past one quarter. The stock had hit a high of Rs 873 and a low of Rs 865.30 so far during the day.

The stock had hit a 52-week high of Rs 880 on 23 March 2017 and a 52-week low of Rs 706.50 on 11 May 2016. The stock had outperformed the market over the past one month till 24 March 2017, rising 3.42% compared with the 1.83% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 9.73% as against Sensexs 12.98% gains.

The large-cap company has equity capital of Rs 285.36 crore. Face value per share is Rs 2.

HCL Technologies said MillerCoors, LLC, a client of the company has filed a lawsuit in the United States District Court for the Northern District of Illinois against the company and HCL America Inc., a wholly owned subsidiary of the company.

MillerCoors allegations under the complaint is that HCL did not deliver an enterprise software project as per the agreed timelines. The specific project started in December 2013 and ended in June 2016. The company continues to have a good business relationship with MillerCoors. The company has other ongoing projects with MillerCoors running smoothly.

The company is in discussions with MillerCoors to resolve this matter amicably. The project in consideration has already ended and the company is not expecting any adverse financial impact of the same for Q4 March 2017.

HCL Technologies consolidated net profit rose 2.3% to Rs 2062.04 crore on 2.56% growth in net sales to Rs 11814.20 crore in Q3 December 2016 over Q2 September 2016.

HCL Technologies is a leading global IT services company working with clients in the areas that impact and redefine the core of their businesses.

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Sintex extends gains
Mar 27,2017

Meanwhile, the S&P BSE Sensex was down 148.39 points or 0.5% at 29,273.01. The BSE Mid-Cap index was down 15.67 points or 0.11% at 13,833.51.

On the BSE, 10.20 lakh shares were traded on the counter so far as against the average daily volumes of 9.64 lakh shares in the past one quarter. The stock had hit a high of Rs 103.30 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 100.40 so far during the day.

The stock had hit a 52-week low of Rs 70 on 12 August 2016. It had outperformed the market over the past one month till 24 March 2017, surging 7.02% compared with the Sensexs 1.83% rise. The scrip had also outperformed the market over the past one quarter, gaining 37.16% as against the Sensexs 12.98% rise.

The mid-cap company has equity capital of Rs 52.71 crore. Face value per share is Rs 1.

Shares of Sintex Industries have risen 7.4% in three trading sessions from its close of Rs 95.90 on 22 March 2017.

Sintex Industries announced during market hours on Friday, 24 March 2017 that the National Company Law Tribunal (NCLT) sanctioned the composite scheme of agreement between Sintex Industries, Sintex Plastic Technology, Sintex-BAPL and Sintex Infra Projects.

Meanwhile, Sintex Industries during market hours today, 27 March 2017 issued clarification with regard to media reports of sale of minority stake in Sintex Plastics. Sintex Industries said that as a corporate policy it does not normally comment on speculative news articles.

As part of corporate strategy, the company is always evaluating opportunities for enhancing the stakeholders value. As and when such proposals are considered by the board of directors of the company and warrant disclosure, the company shall comply with the disclosure obligations, it added.

Currently there is no such proposal as reported by the media that is being considered by the board of directors of the company, Sintex Industries said.

On consolidated basis, net profit of Sintex Industries declined 38.9% to Rs 110.81 crore on 0.1% decline in net sales to Rs 2075.01 crore in Q3 December 2016 over Q3 December 2015.

Sintex is a diversified group with businesses across 2 principal business segments - plastics (including infrastructure) and textiles.

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GVK Power & Infra advances after completing stake-sale in BIAL
Mar 27,2017

The announcement was made after market hours on Friday, 24 March 2017.

Meanwhile, the S&P Sensex was down 145.51 points, or 0.49% at 29,275.89. The S&P BSE Small-Cap index was up 13.19 points, or 0.09% at 14,090.80.

On the BSE, 5.55 lakh shares were traded on the counter so far as against the average daily volumes of 10.14 lakh shares in the past one quarter. The stock had hit a high of Rs 6.16 and a low of Rs 5.89 so far during the day.

The stock had hit a 52-week high of Rs 7.70 on 14 February 2017 and a 52-week low of Rs 4.13 on 6 June 2016. The stock had underperformed the market over the past one month till 24 March 2017, declining 10.05% compared with the Sensexs 1.83% rise. The scrip had also underperformed the market over the past one quarter advancing 5.63% as against the Sensexs 12.98% rise.

The small-cap company has equity capital of Rs 157.92 crore. Face value per share is Re 1.

GVK Power & Infrastructure said that it has divested 33% of its stake in Bangalore International Airport Limited (BIAL) from its wholly owned subsidiary, Bangalore Airport & Infrastructure Developers (BAIDPL) to Fairfax India Holdings Corporation, through its wholly-owned subsidiary in Mauritius, for an aggregate investment of Rs 2202 crore.

Dr GVK Reddy, founder Chairman and Managing Director, GVK, said that the companys primary focus is to deleverage its balance sheet, and all proceeds from this stake sale shall be used to reduce debt. The company looks forward to partnering with Fairfax and working with all the stakeholders in developing the Kempegowda International Airport through its next stage of expansion.

GVK Power & Infrastructure reported net loss of Rs 0.71 crore in Q3 December 2016, as against with net loss of Rs 6.80 crore in Q3 December 2015. Net sales rose 4.2% to Rs 7.12 crore in Q3 December 2016 over Q3 December 2015.

GVK is a leading Indian conglomerate with diversified interests across various sectors including energy, resources, airports, transportation, hospitality and life sciences.

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