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Welspun Enterprises divests Welspun Renewables Energy
Sep 15,2016

Welspun Enterprises announced that Welspun Renewables Energy has been divested to Tata Power Renewable Energy, a 100% subsidiary of Tata Power Company. The enterprise value of the transaction excluding working capital and cash stands at Rs 9249 crore. Welspun Enterprises indirectly holds 13.66% equity stake in Welspun Renewables Energy.

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DoNER released over Rs 100 cr for Manipur in about 5 months
Sep 15,2016

Union Minister of State (Independent Charge) for Development of North Eastern Region (DoNER) & MoS PMO, Dr Jitendra Singh has said that an amount of over Rs. 100 crore has been released by the DoNER Ministry in the first five months of the current financial year for various development projects in Manipur. He said that an amount of Rs.28.47 crore was released for different projects under NLCPR (Non Lapsable Central Pool of Resources) and approximately Rs. 75 crore was released for the NEC (North Eastern Council) projects. This is in addition to the various other fundings and budget releases coming to the State from other Ministries in the Government of India, he added.

Presiding over a meeting of the Ministry of DoNER here today, Dr Jitendra Singh said that among the North-Eastern States, Manipur is the major beneficiary of liberal funding and assistance from various Central Ministries. In this context, he also referred to the Jiribam-Silchar rail link and the broadgauge rail track project from Jiribam to Tupul.

Similarly, Dr Jitendra Singh said that four-laning of the road from Imphal to Moreh and Senapati to Imphal has also been undertaken. In the Power sector, he said, with the active support from the Ministry of DoNER, the State Government and other related agencies have succeeded in providing uninterrupted power supply in the capital city of Imphal. Elaborating on the other new innovative plans for various North Eastern States, Dr Jitendra Singh said, all the 103 district headquarters in the Northeast are planned to be connected to the nearest highway through a minimum two-lane road. At the same time, four-laning of several of the roads is in progress at a fast track, he added.

Dr Jitendra Singh said that considering the exclusive athletic talent among the youth of Northeast, a Sports University for Manipur has been announced by the Central Government, but because of certain issues related to land acquisition, the project has been delayed. The DoNER Ministry is, however, actively pursuing it with the State Government in Imphal, he said.

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Board of Ashok Leyland approves scheme of amalgamation
Sep 15,2016

Ashok Leyland announced that the Board of Directors of the Company at their meeting held on 14 September 2016 approved the scheme of amalgamation of Hinduja Foundaries (Transferor Company) with Ashok Leyland (Tranferee Company) with the appointed dated of 01 October 2016. The scheme is subject to approval of shareholders, Honble High Court of Judicature at Madras and all other regulatory approvals.

The board also approved the exchange ratio -

- 100 equity shares of Rs 10 each of Hinduja Foundaries will get 40 equity shares of Re 1 each of Ashok Leyland.

- 1000 2008 series GDRs of Hinduja Foundaries will get 133 equity shares of Re 1 each of Ashok Leyland.

- 1 2016 series GDRs of Hinduja Foundaries will get 4,800 equity shares of Re 1 each of Ashok Leyland.

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RCom gains after announcing plans to merge with Aircel
Sep 15,2016

The announcement was made after market hours yesterday, 14 September 2016.

Meanwhile, the BSE Sensex was up 30.59 points, or 0.11%, to 28,402.82.

On BSE, so far 12.59 lakh shares were traded in the counter, compared with an average volume of 27.75 lakh shares in the past one quarter. The stock hit a high of Rs 53 and a low of Rs 52 so far during the day.

Reliance Communications (RCom) said the company and Maxis Communications Berhad (MCB), promoters of Aircel, a leading pan-India mobile operator signed definitive documents for the merger of their Indian wireless businesses-the largest-ever consolidation in the Indian telecom sector. The RCom-Aircel combination will create a strong operator ranked amongst Indias top 4 telecom companies by customer base and revenues, also ranking amongst the top 3 operators by revenues in 12 important circles.

The merged company will have the second-largest spectrum holding amongst all operators, aggregating 448 MHz across the 850, 900, 1800 and 2100 MHz bands, and will enjoy enhanced business continuity through extended validity of spectrum holdings till 2033-35. The merged company will be one of Indias largest private sector companies, with an asset base of over Rs 65000 crore ($9.7 billion) and net worth of Rs 35000 crore ($5.2 billion). The combined entity will enjoy substantial benefits of scale driving significant revenue growth, and capex and opex synergies with an NPV of Rs 20000 crore ($3 billion).

RCom and MCB will each hold a 50% stake in the merged entity with equal representation on the board of directors and all committees. The company will be managed by an independent professional team under the supervision of the board. RComs overall debt will reduce by Rs 20000 crore ($3 billion) or over 40% of its total debt, and Aircels debt will reduce by Rs 4000 crore ($600 million), upon completion of the transaction in 2017.

RCom will continue to own and operate its high growth businesses in the domestic and global enterprise space, data centers, optic fibre and related telecom infrastructure, besides owning valuable real estate. On consummation of the merger, RCom and MCB are committed to additional equity infusion into merged company to further strengthen the balance sheet, fund future growth plans, and enhance financial flexibility. Both parties are already in talks with leading international investors in this regard. The merged companys subscribers will have access to nationwide gold standard 4G LTE services on the sub-1 GHz band, under RComs existing nation-wide spectrum sharing/ ICR arrangements with Reliance Jio Infocomm.

The combined 2G, 3G and 4G networks position the merged entity for further strategic collaborations, and provide the entity the unique capability to offer a robust platform of services across all customer segments in all 22 telecom circles, including the mass market, leading to a superior customer experience at an affordable price point, and bringing the Internet to All in furtherance of Prime Minister Narendra Modis vision of Digital India.

Separately, RComs consolidated net profit rose 5.88% to Rs 54 crore on 3.75% decline in total income to Rs 5361 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 14 September 2016. The companys earnings before interest, tax, depreciation and amortization (EBITDA) margin dropped to 29.1% in Q1 June 2016 from 34% in Q1 June 2015.

RCom is an integrated telecommunications service provider.

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Ashok Leyland may gain on approval for amalgamation of Hinduja Foundries with company
Sep 15,2016

Ashok Leyland said that the board of directors approved the proposal of amalgamating Hinduja Foundries, a Hinduja Group Company with Ashok Leyland. The transaction is subject to various regulatory approvals and approval of shareholders of both the companies. The board of directors also approved, subject to regulatory approvals the exchange ratio wherin shareholders holding 100 shares in Hinduja Foundries will get 40 shares of Ashok Leyland. One thousand 2008 series global depository receipts (GDRs) of Hinduja Foundries will get 133 shares of Ashok Leyland. One 2006 series GDRs of Hinduja Foundries will get 4,800 shares of Ashok Leyland. The appointed date for the proposed transaction is 1 October 2016.

State Bank of India announced after market hours yesterday, 14 September 2016 that it has concluded the issue of $300 million AT1 Basel III compliant non-convertible, perpetual non call 5 year subordinated, unsecured note/bonds at a coupon 5.5% payable semi-annually, under banks $10 billion RegS MTN Programme. The notes will be issued through banks Dubai International Financial Centre Branch on 22 September 2016 and will be listed on Singapore Stock Exchange.

Reliance Communications (RCom) said the company and Maxis Communications Berhad (MCB), promoters of Aircel, a leading pan-India mobile operator signed definitive documents for the merger of their Indian wireless businesses-the largest-ever consolidation in the Indian telecom sector. The RCom-Aircel combination will create a strong operator ranked amongst Indias top 4 telecom companies by customer base and revenues, also ranking amongst the top 3 operators by revenues in 12 important circles.

The merged company will have the second-largest spectrum holding amongst all operators, aggregating 448 MHz across the 850, 900, 1800 and 2100 MHz bands, and will enjoy enhanced business continuity through extended validity of spectrum holdings till 2033-35. The merged company will be one of Indias largest private sector companies, with an asset base of over Rs 65000 crore ($9.7 billion) and net worth of Rs 35000 crore ($5.2 billion). The combined entity will enjoy substantial benefits of scale driving significant revenue growth, and capex and opex synergies with an NPV of Rs 20000 crore ($3 billion).

RCom and MCB will each hold a 50% stake in the merged entity with equal representation on the board of directors and all committees. The company will be managed by an independent professional team under the supervision of the board. RComs overall debt will reduce by Rs 20000 crore ($3 billion) or over 40% of its total debt, and Aircels debt will reduce by Rs 4000 crore ($600 million), upon completion of the transaction in 2017.

RCom will continue to own and operate its high growth businesses in the domestic and global enterprise space, data centers, optic fibre and related telecom infrastructure, besides owning valuable real estate. On consummation of the merger, RCom and MCB are committed to additional equity infusion into merged company to further strengthen the balance sheet, fund future growth plans, and enhance financial flexibility. Both parties are already in talks with leading international investors in this regard. The merged companys subscribers will have access to nationwide gold standard 4G LTE services on the sub-1 GHz band, under RComs existing nation-wide spectrum sharing/ ICR arrangements with Reliance Jio Infocomm.

The combined 2G, 3G and 4G networks position the merged entity for further strategic collaborations, and provide the entity the unique capability to offer a robust platform of services across all customer segments in all 22 telecom circles, including the mass market, leading to a superior customer experience at an affordable price point, and bringing the Internet to All in furtherance of Prime Minister Narendra Modis vision of Digital India.

Separately, RComs consolidated net profit rose 5.88% to Rs 54 crore on 3.75% decline in total income to Rs 5361 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 14 September 2016.

Unitech posted consolidated net loss of Rs 44.82 crore in Q1 June 2016 compared with net loss of Rs 279.63 crore in Q1 June 2015. Total income rose 26.94% to Rs 495.93 crore in Q1 June 2016 over Q1 June 2015. The result was announced before market hours today, 15 September 2016.

Shares of Hero MotoCorp turn ex-dividend today, 15 September 2016 for final dividend of Rs 32 per share for the year ended 31 March 2016.

Shares of Mahanagar Gas turn ex-dividend today, 15 September 2016 for final dividend of Rs 17.50 per share for the year ended 31 March 2016.

Shares of Oil India turn ex-dividend today, 15 September 2016 for final dividend of Rs 8 per share for the year ended 31 March 2016.

Shares of Reliance Capital turn ex-dividend today, 15 September 2016 for dividend of Rs 10 per share for the year ended 31 March 2016.

Shares of Reliance Infrastructure turn ex-dividend today, 15 September 2016 for dividend of Rs 8.50 per share for the year ended 31 March 2016.

NBCC (India) reported 16.39% rise in consolidated net profit to Rs 47.09 crore on 16.61% rise in total income from operations (net) to Rs 1273.26 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 14 September 2016.

BEML reported net loss of Rs 107.10 crore in Q1 June 2016, higher than net loss of Rs 68.10 crore in Q1 June 2015. Total income fell 49.7% to Rs 300.52 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 14 September 2016.

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Reliance Communications consolidated net profit rises 5.88% in the June 2016 quarter
Sep 14,2016

Net profit of Reliance Communications rose 5.88% to Rs 54.00 crore in the quarter ended June 2016 as against Rs 51.00 crore during the previous quarter ended June 2015. Sales declined 3.85% to Rs 5247.00 crore in the quarter ended June 2016 as against Rs 5457.00 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales5247.005457.00 -4 OPM %27.7933.86 - PBDT765.001180.00 -35 PBT-65.00-2.00 -3150 NP54.0051.00 6

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SRS reports standalone net loss of Rs 8.10 crore in the June 2016 quarter
Sep 14,2016

Net loss of SRS reported to Rs 8.10 crore in the quarter ended June 2016 as against net profit of Rs 13.84 crore during the previous quarter ended June 2015. Sales declined 45.23% to Rs 597.23 crore in the quarter ended June 2016 as against Rs 1090.42 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales597.231090.42 -45 OPM %1.993.74 - PBDT-9.4324.62 PL PBT-13.9519.91 PL NP-8.1013.84 PL

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Den Networks reports standalone net loss of Rs 57.31 crore in the June 2016 quarter
Sep 14,2016

Net Loss of Den Networks reported to Rs 57.31 crore in the quarter ended June 2016 as against net loss of Rs 50.75 crore during the previous quarter ended June 2015. Sales rose 23.95% to Rs 236.97 crore in the quarter ended June 2016 as against Rs 191.18 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales236.97191.18 24 OPM %1.93-13.83 - PBDT-7.37-23.40 69 PBT-57.40-53.49 -7 NP-57.31-50.75 -13

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Rattanindia Power reports standalone net profit of Rs 4.97 crore in the June 2016 quarter
Sep 14,2016

Net profit of Rattanindia Power reported to Rs 4.97 crore in the quarter ended June 2016 as against net loss of Rs 244.33 crore during the previous quarter ended June 2015. Sales rose 182.97% to Rs 640.88 crore in the quarter ended June 2016 as against Rs 226.48 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales640.88226.48 183 OPM %44.6513.71 - PBDT55.96-174.27 LP PBT4.97-244.33 LP NP4.97-244.33 LP

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Ess Dee Aluminium reports standalone net loss of Rs 58.76 crore in the June 2016 quarter
Sep 14,2016

Net Loss of Ess Dee Aluminium reported to Rs 58.76 crore in the quarter ended June 2016 as against net loss of Rs 13.11 crore during the previous quarter ended June 2015. Sales declined 99.85% to Rs 0.25 crore in the quarter ended June 2016 as against Rs 163.31 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales0.25163.31 -100 OPM %-8636.003.91 - PBDT-47.62-8.94 -433 PBT-58.76-19.85 -196 NP-58.76-13.11 -348

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Anant Raj standalone net profit declines 8.26% in the June 2016 quarter
Sep 14,2016

Net profit of Anant Raj declined 8.26% to Rs 12.33 crore in the quarter ended June 2016 as against Rs 13.44 crore during the previous quarter ended June 2015. Sales rose 1.81% to Rs 73.62 crore in the quarter ended June 2016 as against Rs 72.31 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales73.6272.31 2 OPM %36.9931.84 - PBDT20.3219.66 3 PBT15.4314.91 3 NP12.3313.44 -8

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Reliance Communications reports standalone net loss of Rs 559.00 crore in the June 2016 quarter
Sep 14,2016

Net Loss of Reliance Communications reported to Rs 559.00 crore in the quarter ended June 2016 as against net loss of Rs 231.00 crore during the previous quarter ended June 2015. Sales declined 0.80% to Rs 2482.00 crore in the quarter ended June 2016 as against Rs 2502.00 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales2482.002502.00 -1 OPM %0.1212.91 - PBDT-517.00-72.00 -618 PBT-854.00-550.00 -55 NP-559.00-231.00 -142

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IVRCL reports standalone net loss of Rs 151.85 crore in the June 2016 quarter
Sep 14,2016

Net Loss of IVRCL reported to Rs 151.85 crore in the quarter ended June 2016 as against net loss of Rs 189.36 crore during the previous quarter ended June 2015. Sales declined 27.77% to Rs 448.05 crore in the quarter ended June 2016 as against Rs 620.29 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales448.05620.29 -28 OPM %5.98-3.12 - PBDT-133.30-168.87 21 PBT-151.85-189.36 20 NP-151.85-189.36 20

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NBCC (India) consolidated net profit rises 16.41% in the June 2016 quarter
Sep 14,2016

Net profit of NBCC (India) rose 16.41% to Rs 47.10 crore in the quarter ended June 2016 as against Rs 40.46 crore during the previous quarter ended June 2015. Sales rose 15.11% to Rs 1254.31 crore in the quarter ended June 2016 as against Rs 1089.64 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales1254.311089.64 15 OPM %3.663.27 - PBDT71.1859.86 19 PBT70.5659.20 19 NP47.1040.46 16

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RattanIndia Infrastructure reports standalone net loss of Rs 1.64 crore in the June 2016 quarter
Sep 14,2016

Net Loss of RattanIndia Infrastructure reported to Rs 1.64 crore in the quarter ended June 2016 as against net loss of Rs 0.12 crore during the previous quarter ended June 2015. There were no Sales reported in the quarter ended June 2016 and during the previous quarter ended June 2015.

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