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Volumes jump at Dalmia Bharat counter
Sep 12,2016

Dalmia Bharat clocked volume of 1.49 lakh shares by 13:12 IST on BSE, a 19.38-times surge over two-week average daily volume of 8,000 shares. The stock lost 1.79% at Rs 1,775.

NIIT Technologies notched up volume of 2.36 lakh shares, a 11.96-fold surge over two-week average daily volume of 20,000 shares. The stock was up 0.41% at Rs 404.75.

Rama Phosphates saw volume of 10.23 lakh shares, a 10.52-fold surge over two-week average daily volume of 97,000 shares. The stock rose 1.76% at Rs 60.60.

Aksh Optifibre clocked volume of 63.43 lakh shares, a 9.99-fold surge over two-week average daily volume of 6.35 lakh shares. The stock was locked at 20% upper circuit at Rs 20.56.

Cummins India saw volume of 1.36 lakh shares, a 8.76-fold rise over two-week average daily volume of 16,000 shares. The stock fell 0.66% at Rs 928.

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Yes Bank extends losses post QIP deferral
Sep 12,2016

Meanwhile, the BSE Sensex was down 384.30 points, or 1.33%, to 28,416.89.

On BSE, so far 3.2 lakh shares were traded in the counter, compared with average daily volume of 2.06 lakh shares in the past one quarter. The stock hit a high of Rs 1,254.95 and a low of Rs 1,201.55 so far during the day. The stock hit a 52-week low of Rs 632.25 on 20 January 2016. The stock hit a record high of Rs 1,450 on 7 September 2016. The stock had underperformed the market over the past one month till 9 September 2016, gaining 1.42% compared with Sensexs 2.54% gain. The scrip had, however, outperformed the market in past one quarter, rising 22.78% as against Sensexs 7.6% gain.

The large-cap company has equity capital of Rs 421.35 crore. Face value per share is Rs 10.

Shares of Yes Bank had dropped 4.01% to Rs 1,277.25 on Friday, 9 September 2016 after the bank announced deferral of its proposed qualified institutional placement (QIP) as advised by its appointed Merchant Bankers for the QIP due to extreme volatility during trading day on 8 September 2016 because of misinterpretation of new QIP guidelines. The announcement of QIP deferral was made by the bank after market hours on 8 September 2016. The bank had announced on 7 September 2016 opening of its QIP of equity shares of face value Rs 10 each to raise up to $1 billion. The bank had announced Rs 1,371.84 per share as the floor price for the QIP at that time. The stock slumped 5.32% to Rs 1,330.65 on 8 September 2016 after opening its QIP, which resulted in bank calling off its QIP issue.

The stock has dropped 15.41% to its current ruling price of Rs 1,218.80 in four sessions, from its close of Rs 1,440.90 on 6 September 2016.

Yes Banks net profit rose 32.8% to Rs 731.80 crore on 25.4% growth in operating income to Rs 4762.83 crore in Q1 June 2016 over Q1 June 2015.

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

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Indo Count Industries appoints CFO
Sep 12,2016

Indo Count Industries announced that Dilip Kumar Ghorawat has been appointed as Chief Financial Officer of the Company w.e.f 12 September 2016.

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Tata Chemicals announces cessation of director
Sep 12,2016

Tata Chemicals announced that Eknath A. Kshirsagar has retired as an Independent Director of the Company with effect from 10 September 2016 on reaching the retirement age as per the Board Governance Guidelines adopted by the Company.

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Mahindra & Mahindra launches New Balero with mHawk D70 engine
Sep 12,2016

Mahindra & Mahindra has unveiled the New Bolero with the mHawk D70 engine. This has been christened - The New Bolero Power+. The new Bolero is available in 3 variants - SLE, SLX and ZLX across Mahindra Dealerships pan India at an aggressive price of Rs 6.59 lakh (ex-showroom Navi Mumbai for SLE BS4 variant).

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Pricol slips on profit booking after bulk purchase of shares by UTI MF
Sep 12,2016

Meanwhile, the S&P BSE Sensex was down 393.60 points or 1.37% at 28,403.65.

On BSE, so far 2.11 lakh shares were traded in the counter as against average daily volume of 4.17 lakh shares in the past one quarter. The stock hit a high of Rs 119.90 and a low of Rs 116.10 so far during the day. The stock had hit a record high of Rs 124.40 on Friday, 9 September 2016. The stock had hit a 52-week low of Rs 28.85 on 15 September 2015. The stock had outperformed the market over the past one month till 9 September 2016, gaining 2.57% compared with Sensexs 2.54% gain. The scrip had also outperformed the market in past one quarter, advancing 55.21% as against Sensexs 7.6% gain.

The small-cap company has equity capital of Rs 9.48 crore. Face value per share is Rs 1.

Shares of Pricol had surged 7.58% in two trading sessions to settle at Rs 119.90 on Friday, 9 September 2016, from its close of Rs 111.45 on 7 September 2016.

PHI Capital Trust sold 14 lakh shares of Pricol at an average price of Rs 120.14 per share in a bulk deal on the NSE on Friday, 9 September 2016. UTI Mutual Fund A/C UTI-Mid Cap Fund bought 12.69 lakh shares at Rs 120 per share in this deal.

Pricols net profit spurted 1252.4% to Rs 22.18 crore on 41.1% growth in net sales to Rs 306.75 crore in Q1 June 2016 over Q1 June 2015.

Pricol manufactures automotive components for the global automotive market. It caters to two, three, four-wheelers, commercial vehicles, tractors and construction and industrial tooling segments across the global market.

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Indirect Tax Collections upto August, 2016 show an increase of 27.5% over the net collections for the corresponding period last year
Sep 12,2016

The figures for indirect tax collections (Central Excise, Service Tax and Customs) upto August 2016 show that net revenue collections are at Rs 3.36 lakh crore which is 27.5% more than the net collections for the corresponding period last year. Till August 2016, 43.2% of the Budget Estimates of indirect taxes for Financial Year 2016-17 has been achieved.

As regards Central Excise, net tax collections stood at Rs.1.53 lakh crore during April-August, 2016 as compared to Rs.1.03 lakh crore during the corresponding period in the previous Financial Year, thereby registering a growth of 48.8%.

Net Tax collections on account of Service Tax during April-August, 2016 stood at Rs.92,696 crore as compared to Rs. 75,219 crore during the corresponding period in the previous Financial Year, thereby registering a growth of 23.2%.

Net Tax collections on account of Customs during April-August 2016 stood at Rs. 90,448 crore as compared to Rs. 85,557 crore during the same period in the previous Financial Year, thereby registering a growth of 5.7%.

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Tata Chemicals to undertake peipeline re-routing activity at Haldia Plant
Sep 12,2016

Tata Chemicals announced that pipeline re-routing activity was likely to cause a shutdown of operations by about 5 weeks in September-October, 2016 due to interruption of ammonia supply to the TCL-Haldia phosphatic fertiliser plant.

In this regard, as per the current project status, the expected pipeline rerouting will be scheduled in the month of February - March, 2017 for about 5 weeks,

Further updates in this regard will be provided when the actual shutdown of the Haldia Plant for the above purpose is undertaken in February and March, 2017.

Tata Chemicals has signed an MoU with Sanjana Cryogenics Storage (SCSL), its Ammonia Terminal Operator, for re-routing a portion of the ammonia pipeline that runs from the Haldia Dock to the Ammonia Storage tank. This has been done at the directive of Kolkata Port Trust for facilitating the set up a Multi-Modal Terminal Hub at Haldia by Inland Waterways Authority of India (IWAI).

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Jaiprakash Associates slips on lackluster Q1 outcome
Sep 12,2016

The result was announced on Friday, 9 September 2016.

Meanwhile, the BSE Sensex was down 389.59 points, or 1.35%, to 28,405.23.

On BSE, so far 37.99 lakh shares were traded in the counter, compared with average daily volume of 1.03 crore shares in the past one quarter. The stock hit a high of Rs 11.65 and a low of Rs 10.95 so far during the day. The stock hit a record low of Rs 5.30 on 2 June 2016. The stock hit a 52-week high of Rs 14.90 on 16 October 2015. The stock had outperformed the market over the past one month till 9 September 2016, gaining 2.98% compared with Sensexs 2.54% gain. The scrip had also outperformed the market in past one quarter, jumping 111.34% as against Sensexs 7.6% gain.

The mid-cap company has equity capital of Rs 486.49 crore. Face value per share is Rs 2.

Jaiprakash Associates total income decreased 26.99% to Rs 1747.76 crore in Q1 June 2016 over Q1 June 2015.

Separately, Jaiprakash Associates said on Saturday, 10 September 2016 that Unit-2 of 660 megawatts (MW) of 1980 MW Bara Supercritical Thermal Power Project, being implemented by Prayagraj Power Generation Company has successfully commenced commercial operations on 10 September 2016. Prayagraj Power Generation Company is a material un-listed subsidiary of Jaiprakash Power Ventures (JPVL), which is a subsidiary of Jaiprakash Associates

Shares of JVPL dropped 2.21% to Rs 4.86.

Jaiprakash Associates is the flagship company of the Jaypee group and is engaged in engineering and construction, real estate and hospitality businesses.

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Fitch: Basel III Add to Indian Banks Capital Trigger Risk
Sep 12,2016

The progressive increase in minimum capital requirements under Basel III is likely to put nearly half of Indian banks in danger of breaching capital triggers, says Fitch Ratings. State banks are the most at risk, given their poor existing capital buffers and weak prospects for raising capital through market channels.

Our analysis of 27 Indian banks with outstanding hybrid capital instruments indicates that at end-June 2016 the total capital adequacy ratio (CAR) for 11 banks was at or lower than the minimum of 11.5% required by end-March 2019 (FYE19). Of these, six did not have enough capital to meet the minimum required by FYE17. The minimum total CAR is a prerequisite for payment of coupons on both legacy and Basel III perpetual debt capital instruments.

For Basel III perpetual instruments, coupon deferral is also linked to banks meeting both minimum regulatory common equity tier 1 (CET1) ratio and Tier 1 ratio. More than half of the banks currently have a CET1 ratio that is below the required 8% minimum that will be applied from FYE19.

Fitch estimates that Indian banks will require around USD90bn in new capital by FYE19 to meet Basel III standards, with the state banks accounting for about 80% of the total. Meeting IFRS 9 accounting requirements could add to the challenges faced by the banks. The government has already earmarked INR700bn (USD10.4bn) for capital injections into state banks through to FYE19 and in July it announced that INR229bn (USD3.4bn) was being frontloaded. Priority is being given to the banks most in need of new capital but the capital injections may not be sufficient to address their ongoing capital needs to meet required provisions and to support balance sheet growth. However, we believe that more capital will be needed from the government to restore market confidence.

As it stands, state banks are heavily reliant on the government for new capital. Sharply deteriorating financial profiles have raised the standalone credit risks of state banks over the last year. Equity valuations have suffered as a result. Most continue to trade at heavy discounts to their book value, which acts as a significant constraint on raising new core equity.

The State Bank of Indias (BBB-/Stable; Indias largest bank) proposed USD1bn issuance of dollar-denominated AT1 instruments will be the first cross-border deal, and Fitch believes the issuance will serve as a pricing benchmark for other banks keen to access the dollar AT1 market. The Reserve Bank of Indias recent proposal to allow banks to issue masala bonds - rupee-denominated bonds issued in offshore capital markets - could also help widen the investor pool and ultimately deepen the market for AT1 bond issuance.

Nevertheless, state banks will continue to face difficulties in raising capital from the market, which will keep their Viability Ratings under pressure and will weigh on the sector outlook.

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Bajaj Finserve provides update on rights issue
Sep 12,2016

Bajaj Finserve announced that the Board of Directors of the Company at its meeting held on 12 September 2016 has issued and allotted 327 rights equity shares. The said entitlements were earlier held in abeyance.

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Zuari Agro Chemicals declines after reverse turnaround in Q1
Sep 12,2016

The result was announced after market hours on Friday, 9 September 2016.

Meanwhile, the S&P BSE Sensex was down 406.87 points or 1.41% at 28,390.38.

On BSE, so far 9,618 shares were traded in the counter as against average daily volume of 11,811 shares in the past one quarter. The stock hit a high of Rs 178.55 and a low of Rs 171 so far during the day. The stock had hit a 52-week low of Rs 118.20 on 29 February 2016. The stock had hit a 52-week high of Rs 209.90 on 12 May 2016. The stock had outperformed the market over the past one month till 9 September 2016, gaining 8.25% compared with Sensexs 2.54% gain. The scrip had, however, underperformed the market in past one quarter, advancing 0.46% as against Sensexs 7.6% gain.

The small-cap company has equity capital of Rs 42.06 crore. Face value per share is Rs 10.

Zuari Agro Chemicals net sales declined 37.2% to Rs 976.42 crore in Q1 June 2016 over Q1 June 2015.

Zuari Agro Chemicals said that due to volatility in the market, the board of directors of the company at its meeting held on Friday, 9 September 2016, decided to defer the rights issue which was proposed earlier till such time as the board deems fit.

Zuari Agro Chemicals produces complex fertilizers of various grades along with seeds, pesticides, micro nutrients and specialty fertilizers.

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Repco Home Finance allots NCDs aggregating Rs 200 cr
Sep 12,2016

Repco Home Finance announced that the Securities Allotment Committee of the Company at its meeting held on 12 September 2016 has allotted 2000 Secured Redeemable Non Convertible Debentures (SRNCD) of face value of Rs. 10,00,000 each aggregating Rs.200 crore on private placement basis.

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Menon Bearings provides update on bonus issue
Sep 12,2016

Menon Bearings announced that the Bonus shares are credited to the account of shareholders holding shares in demat form and physical share certificates are dispatched to shareholders holding shares in physical form, whose name appeared in the register of members on 31 August 2016.

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Camphor & Allied Products announces change in registered office
Sep 12,2016

Camphor & Allied Products announced that Registrar of Companies - ROC - Mumbai have certified the copy of Regional Director (NWR), Ahmedabad order bearing date 27 July 2016 which confirmed and allowed the application being filed by the Company for alteration of the Memorandum of Association of the Company in terms of the Special Resolution passed through postal ballot under Section 110 on 16 May 2016 relating to change of the place of registered office from one state to another i.e. from Gujarat to Maharashtra.

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