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Adani Power allots 2,27,27,044 equity shares
Mar 21,2017

Adani Power has allotted 2,27,27,044 equity shares of Rs. 10/- each upon partial conversion of the Convertible Warrants as earlier issued and allotted on preferential basis to Promoter Group Entities.

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Union Bank of India gets rating assigned for Certificate of Deposit Program
Mar 21,2017

Union Bank of India announced that ICRA has assigned the rating of [ICRA] A1+ to the Banks Certificate of Deposit Program of Rs.10,000 crore.

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Indiabulls Housing Finance allots NCDs aggregating Rs 600 cr
Mar 21,2017

Indiabulls Housing Finance allotted its seventh tranche of Secured, Redeemable, Non-Convertible Debentures of face value Rs. 10 lakh each (NCDs) aggregating Rs.600 crore (Rs. 500 crore Plus Greenshoe Option of Rs. 100 crores) on 21 March 2017.

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Hindustan Unilever starts commercial production at new facility in Assam
Mar 21,2017

Hindustan Unilever has commenced commercial production at its new manufacturing facility in Assam on 15 March 2017.

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48,998 Complaints register against e-commerce companies during April 2016-February 2017
Mar 21,2017

The number of complaints against e-commerce companies, as registered in the National Consumer Helpline, over the last three years are as under:Call received at National Consumer Helpline in e-commerce SectorYearCallsMay 2014 - March 201516919April 2015 - March 201628331April 2016- February 201748998

The redressal of the complaints are registered by a complainant with the three tier system of quasi-judicial bodies namely the District Consumer Disputes Redressal Forum, State Consumer Disputes Redressal Commission and the National Consumer Disputes Redressal Commission established under the provisions of the Consumer Protection Act, 1986. Besides, Consumer Grievances addressed to the National Consumer Helpline (NCH) are redressed by forwarding the complaints to concerned departments and the companies and constant monitoring the progress in their redressal. The NCH has established partnership with 225 companies under a convergence programme for speedy redressal.

The Government is aware about the functioning of e-commerce companies. The rights of the consumers involved in e-commerce are equally protected as per the provisions of the Consumer Protection Act, 1986, in a manner similar to transactions involving goods and services.

The draft amendment to the Packaged Commodities Rules, 2011 made under the provisions of Legal Metrology Act, 2009 proposes that the mandatory labeling declarations as per the rules shall be displayed on the online trading platforms.

A consumer dealing in e-commerce can file complaints in consumer courts for deficiency in service and defective products, under the provisions of the Consumer Protection Act, 1986 which has provisions regarding jurisdictional issues. The Consumer Protection Bill, 2015, introduced in August, 2015, seeks to strengthen the provisions regarding jurisdictional and also has provisions regarding Alternate Disputes Resolution.

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MoU signed with ASCI by M/o AYUSH to monitor misleading AYUSH related advertisements: Shri Shripad Naik
Mar 21,2017

Ministry of AYUSH received 79 complaints in the year 2014 about advertisements and misleading claims allegedly of herbal and AYUSH products. Department of Consumer Affairs has informed that Advertising Standards Council of India (ASCI) referred 263 complaints of allegedly AYUSH products related advertisements since January, 2015 including seven advertisements of herbal medicines in 2016. Such complaints of 381 advertisements are also registered online till 16th March, 2017 in the Grievances against Misleading Advertisements (GAMA) portal maintained by the Ministry of Consumer Affairs, Food & Public Distribution.

In this regard, it is pertinent to state that the proof of safety and effectiveness as required for issuing license to manufacture Ayurvedic, Siddha or Unani medicine is prescribed in the guidelines under Rule 158-B of the Drugs & Cosmetics Rules, 1945, which can either be based on textual rationale from the authoritative books listed in the First Schedule to the Drugs & Cosmetics Act or published literature; and if no such evidence of effectiveness of the drug is available, it needs to be generated by conducting the pilot study. In order to check the veracity of misleading advertisements of AYUSH products, the Central Government has issued directives to the State Governments for appointing Gazetted Officers for monitoring of advertisements of such drugs. Complaints of misleading advertisements of medicines are forwarded to the concerned State Licensing Authorities for action in accordance with the provisions of Drugs & Cosmetics Act, 1940 and Rules thereunder and Drugs & Magic Remedies (Objectionable Advertisements) Act, 1954 and Rules thereunder. States have reported action taken against the defaulters. Ministry of AYUSH has also signed MoU with Advertising Standards Council of India (ASCI) on 20th January, 2017 to undertake monitoring of the misleading AYUSH -related advertisements appearing in print and TV media and bring the instances of improper advertisements to the notice of the State Regulatory Authorities for taking necessary action.

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IWAI raises Rs 340 Crore through Infrastructure Bonds
Mar 21,2017

In a landmark development for expansion of inland waterways in the country, the Inland Waterways Authority of India (IWAI) has raised Rs 340 crore through its maiden bond issue from the market. The fully serviced Government of India Bonds were privately placed with banks and financial institutions on March 1, 2017.

The Finance Minister in his Budget Speech 2016-17 had announced mobilization of extra budgetary resources through issuance of Bonds to support infrastructure projects. To augment infrastructure spending further, Government will permit mobilization of additional finances to the extent of Rs 31,300 crore by NHAI, PFC, REC, IREDA, NABARD and Inland Waterways Authority through raising of Bonds during 2016-17, he had said.

Accordingly, IWAI launched its maiden venture of mobilizing Government of India fully serviced Bonds by private placement mode on the electronic bidding platform of Bombay Stock Exchange on March 1, 2017. The Issue was oversubscribed with a total mobilization of Rs 340 crore against the announced size of Rs.200 crore.

The inflow of these funds provides a major fillip to IWAIs ambitious plan to develop National Waterways in India. These river highways are economical and environment friendly and are expected to contribute in correcting the existing transport modal mix that imposes available logistics cost on the Indian economy.

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Rupee surges on dollar weakness
Mar 21,2017

Rupee closed higher at 65.29/30 per dollar on Tuesday (21 March 2017), versus its previous close of 65.36/37 per dollar.

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Mindtree fixes record date for interim dividend
Mar 21,2017

Mindtree has fixed 10 April 2017 as record date for payment of interim dividend, if approved.

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The Union Government has decided to make timely payment of accumulations under the Savings Fund of CGEGIS
Mar 21,2017

The Union Government has decided that in all cases where the service of the retiring Central Government employees has been verified, payment of the accumulation under Savings Fund of Central Government Employee Group Insurance Scheme (CGEGIS) will be made without awaiting confirmation of deduction of each monthly subscription of CGEGIS. This would help in timely payment of accumulations under the Savings Fund of the CGEGIS. The necessary Orders in this regard have been issued by Department of Expenditure, Ministry of Finance on 17.03.2017.

Often delay occurs in payment of dues to the retiring Central Government employees as the existing procedure requires confirmation of deduction of each monthly subscription to the scheme. The present decision of the Union Government is a step towards simplification of procedure as well as to ensure timely payment of savings along with interest under CGEGIS, to the Central Government employees at the time of retirement.

Under the Central Government Employees Group Insurance Scheme, 1980, the accumulations under the component of Savings Fund together with interest thereon are payable to the employees on retirement or on cessation of employment with the Central Government or to their family on death while in service.

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Gartner Says by 2020, At Least 30 Percent of Industrie 4.0 Projects Will Source Their Algorithms From Leading Algorithm Marketplaces
Mar 21,2017

Industrie 4.0* has been underway for more than five years, and while many businesses have begun some promising Industrie 4.0 projects, key challenges remain that are making algorithms the heartbeat of these projects, according to Gartner, Inc. By 2020, Gartner predicts that at least 30 percent of Industrie 4.0 projects will source their algorithms from leading algorithm marketplaces n++ a significant rise from less than 5 percent in 2016.

Industrie 4.0 projects are facing two significant challenges, said Thomas Oestreich, managing vice president at Gartner. First n++ in the connected world of cyber-physical systems n++ they need to deal with the sheer volume, real-time velocity and diversity of data. Second, in order to drive new value and differentiating innovations, new algorithms need to be developed. This is making algorithms the pulse of Industrie 4.0 initiatives.

Mr. Oestreich added that developing new algorithms requires skills and competencies that most companies do not have yet. To increase time to market and speed up the development process, some organizations employ service providers and combine this with using algorithm marketplaces.

Reusable Algorithms Can Reduce Development Time

Analytics vendors have started creating marketplaces for software components, such as analytical algorithms, to bring greater flexibility and choice to end users. These marketplaces will bring the benefits of the app economy to software development. They will radically lower software distribution costs and improve access to thousands n++ if not millions n++ of available algorithms.

Algorithm marketplaces offer reusable algorithms, which help organizations speed up their development processes and cope with the transformational changes introduced with digital business. Reusing prebuilt algorithms and applying them to a specific use case can significantly reduce development time and will offer an important library, expanding the possibilities for in-house development teams, said Mr. Oestreich.

We encourage CIOs to build a task force with data and analytics leaders to evaluate algorithm marketplaces, and then create their own library of available and potentially useful algorithms, said Mr. Oestreich.

Modernize and Transform ERP Solutions Into a Solid Foundation for Industrie 4.0

Early adopters of Industrie 4.0 are also renovating their enterprise resource planning (ERP) solutions. ERP systems are connected to Internet of Things (IoT) infrastructure that consists of sensors and actuators, middleware to collect and store data, and applications and analytics to make decisions and trigger actions.

Many ERP solutions are old, and they cannot cope with the amount of data and transactions to be processed, and the level of granularity in business transactions, said Christian Hestermann, research director at Gartner.

The music industry is a good example of how an industry has gone through transformation. Customers went from buying complete albums in a record store to streaming one individual song, which triggers an immediate invoice about the microamounts due. ERP could fast become the bottleneck of digital business, not allowing a business to act quickly enough to grasp digital business opportunities in a fast-changing business world, Mr. Hestermann added.

CIOs need to develop digital business moments to grow their business. Signals coming from sensors inside products or from external sources could be used to offer additional services to customers. This will likely require the modernization of the ERP solutions involved, as older ones will not support the level of granularity and the volumes of microtransactions required, said Mr. Hestermann.

Gartner said that, by 2020, 50 percent of the companies that have renovated their ERP core and migrated their IoT infrastructure to a standardized platform will increase customer interactions by over 20 percent.

CIOs should determine where IoT and digital business play a role in their business scenarios, and develop Industrie 4.0 value chains by modeling the business capabilities that their organizations need, concluded Mr. Hestermann. They also need to assess their current state and their needs for renovation on all layers of the IoT architecture and take the necessary measures to improve.

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Board of Southern Magnesium & Chemicals approves change in nominee director
Mar 21,2017

Southern Magnesium & Chemicals announced that the Board of Directors of the Company at its meeting held on 21 March 2017 transacted the following business:

1. Admission of Securities of the company on National Securities Depositories.
2. Board took note of withdrawal of C Mariamma as Nominee Director of APIDC Limited and took note of her resignation. Board further approved appointment of E. Maha Lakshmi as Nominee Director in place of C.Mariamma as per the letter given to the company by APIDC.

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Board of AAR Commercial Company approves acquisition of subsidiary
Mar 21,2017

AAR Commercial Company announced that the Board of Directors at their meeting held on 21 March 2017, inter alia has approved acquisition of Camellia Tradelink as a Wholly Owned Subsidiary and accordingly, Camellia Tradellink shall be regarded as a Wholly Owned subsidiary of the Company.

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Outcome of board meeting of Vikas Wsp
Mar 21,2017

Vikas Wsp announced that the Board of Directors of the Company at its meeting held on 21 March 2017, inter alia, approved and proposed the following resolution for approve of their members at Extra Ordinary General Meeting:-

1.To issuance of 5.10 Crore equity shares as per SEBI guidelines to allot fresh equity shares on preferential basis to prospective investors other than promoters at a price of Rs. 10 per share (Face Value Rs.1 and premium Rs. 9 per equity shares).
2.To issuance of 1.70 Crore equity shares as per SEBI guidelines to allot fresh equity shares on preferential basis to promoters at a price of Rs. 10 per share (Face Value Rs. 1 and premium Rs. 9 per equity shares).
3.To approve the ESOP-2017 Policy of the Company for allotment of shares to the Employees of the Company.
4.Notice of Extra Ordinary General Meeting Notice, which will be held on 21 April 2017.

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Indiabulls Housing Finance corrects on profit booking
Mar 21,2017

Meanwhile, the S&P BSE Sensex was down 11.95 points, or 0.04% to 29,506.79.

On the BSE, 1.16 lakh shares were traded in the counter so far, compared with average daily volumes of 8.99 lakh shares in the past one quarter. The stock had hit a high of Rs 969.65 and a low of Rs 924.30 so far during the day. The stock hit a record high of Rs 982.40 yesterday, 20 March 2017. The stock hit a 52-week low of Rs 600.10 on 6 April 2016.

The stock had outperformed the market over the past one month till 20 March 2017, rising 12.91% compared with 3.69% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 50.39% as against Sensexs 12.20% rise.

The large-cap company has equity capital of Rs 84.77 crore. Face value per share is Rs 2.

Shares of Indiabulls Housing Finance rose 13.56% in six trading sessions to settle at Rs 964.55 yesterday, 20 March 2017, from its close of Rs 849.40 on 9 March 2017.

On a consolidated basis, net profit of Indiabulls Housing Finance rose 24.75% to Rs 751.49 crore on 25.92% rise in net sales to Rs 2475.94 crore in Q3 December 2016 over Q3 December 2015.

Indiabulls Housing Finance is a housing finance company.

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