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MOIL announces appointment of director
Dec 09,2016

MOIL announced that the Company have received Government of India letter dated 29 November 2016 assigning additional charge of the post of Director (Finance), MOIL to D.S. Ahluwalia, Director (Finance), NMDC for a period of three months w.e.f. 01 December 2016, or till a regular incumbent joins the post, or until further orders, whichever is the earliest.

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Thomas Cook (India) honoured at The French Ambassadors Travel Awards
Dec 09,2016

Thomas Cook (India) has been conferred with the prestigious Diamond Award for highest number of visa issuances to France from India in 2016, at the French Ambassadors Travel Awards, established to honour outstanding performers in the travel and tourism industry in India.

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SECI to Launch 1000 MW Rooftop Solar PV Scheme for Government Sector
Dec 09,2016

As a step towards fulfilment of the Government of Indias target for installation of 40 GW rooftop solar power plants by the year 2022, Solar Energy Corporation of India (SECI) is launching today a tender of 1000 MW capacity for development of grid-connected rooftop solar capacity for Central Government Ministries/Departments. This would be the largest rooftop tender to be launched by SECI, and is expected to give a big boost to the hugely potent rooftop solar power generation segment.

The 1000 MW tender, one of the largest globally, is a move to rapidly escalate rooftop solar capacity in the country, and comes in quick succession to SECIs earlier tender of 500 MW capacity, targeting buildings in the residential/institutional and social sectors.

SECI is the leading PSU in the rooftop solar segment, and has already commissioned over 54 MW capacity of rooftop solar projects under multiple government schemes.

The upcoming 1000 MW tender is especially targeted at utilising the numerous buildings of the Central Government Ministries/Departments. The highlight of this tender is its innovative Achievement-Linked Incentives scheme wherein the incentives in terms of capital subsidy shall be provided on the basis of performance achieved by designated Ministries/departments against their committed targets in the given timespan.

In this scheme the Grid connected rooftop solar systems shall be installed with the financial assistance for MNRE in the form of Incentives. The power generated from the systems shall be used for meeting the captive requirement of the buildings and the surplus power, if any, shall be fed to the grid under the net-metering arrangement of the respective State.

Ministry of New & Renewable Energy (MNRE) has allocated 21 Ministries/ Departments to SECI interalia Ministry of Human Resource Development, Ministry of Finance, Ministry of Urban Development, Ministry of Parliamentary Affairs etc. The ministries have shown great enthusiasm and have assured their commitment with submission of n++Green Energy Commitment Certificatesn++ to MNRE for implementation of Grid Connected SPV power plants at the roof of their offices/other buildings etc., as part of their Clean energy initiatives and achieving National target of alleviating Global Warming. Various ministries/department have been sensitized by MNRE/SECI for implementation of Grid connected rooftop systems.

MNRE has also collated the demand of the various Ministries/departments for implementation of the systems. Based on the indicative list of sites provided by MNRE and various interested Ministries, SECI is carrying out a potential assessment which shall be provided to the solar PV developers (SPD).

The SPDs will be selected state-wise through national competitive bidding process and provision of one Rate / state shall be kept in the scheme. The 1000MW capacity will be distributed between CAPEX and RESCO modes of implementation in the ratio 30/70.

In this scheme, SECI in consultation with MNRE, is also introducing a Payment Security Mechanism which is apparently a first in the history of the rooftop programme, with the assurance of all rightful payments to the SPDs under RESCO model. SECI has also tied up with Financial institutes (FIs) Banks such as IREDA and SBI for disbursement of loans with Special Discount Packages to be offered by these institutions to the developers.

A toll-free number is being set up to ensure ease of communication of various stakeholders to SECI.

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Sheela Foam makes an impressive debut
Dec 09,2016

Meanwhile, the S&P BSE Sensex was up 64 points or 0.24% at 26,758.28.

On the BSE, 8.58 lakh shares were traded on the counter so far. The stock made its debut on the bourses at Rs 860, a premium of 17.8% over its initial public offer (IPO) price of Rs 730 per share. The stock had hit a high of Rs 1,032 and a low of Rs 860 so far during the day.

The IPO of Sheela Foam received strong response from investors. The IPO was subscribed 5.09 times. The price band of the offer was fixed at Rs 680 to Rs 730 per share.

Promoted by Sheela Gautam, Rahul Gautam and Polyflex Marketing, Sheela Foam (SFL) is engaged in manufacturing of home comfort products and technical foam products. SFL is one of the leading manufacturers of mattresses in India, marketed under its flagship brand, Sleepwell. In addition, it manufactures other foam-based home comfort products targeted primarily at Indian retail consumers, as well as technical grades of polyurethane (PU) foam for end use in a wide range of industries.

Sheela Foam reported consolidated net profit of Rs 65.95 crore on net sales of Rs 795.50 crore for the six months ended 30 September 2016.

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NLC India slips after reporting dismal Q2 figures
Dec 09,2016

The result was announced after market hours yesterday, 8 December 2016.

Meanwhile, the BSE Sensex was up 62.89 points, or 0.24%, to 26,757.17.

On the BSE, 9,199 shares were traded in the counter so far, compared with an average volume of 40,303 shares in the past one quarter. The stock had hit a high of Rs 79.80 and a low of Rs 78.40 so far during the day. The stock had hit a 52-week high of Rs 86.35 on 3 November 2016. The stock had hit a 52-week low of Rs 60.35 on 1 March 2016.

The stock had outperformed the market over the past 30 days till 8 December 2016, rising 0.25% compared with 3.25% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 4.69% as against Sensexs 8.09% decline.

The large-cap company has an equity capital of Rs 1677.71 crore. Face value per share is Rs 10.

NLC India said that Q2 net profit was impacted due to discharge of Rs 52.66 crore towards one time voluntary retirement compensation. In the first half of the year net profit was impacted mainly due to surrender of power of 722.27 million units (MU) by distribution companies with an estimated financial impact of Rs 219.30 crore.

NLC India operates lignite mines, pithead thermal power stations and also has operations in renewable energy sector. As per the shareholding pattern as on 30 September 2016, the Government of India held 90% stake in the company.

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Government is keen on introducing GST from April 1 next year: Najeeb shah, Chairman CBEC
Dec 09,2016

Chairman of the Central Board of Excise and Customs Mr Najeeb Shah asked the industry to prepare itself to implement the Goods and Services Tax (GST) with effect April 1 at an ASSOCHAM event.

There will be GST readiness on part of the government and urged the industry to be ready. On the issue of dual control among the states and the Centre, he said n++we dont want to reduce dual (GST structure) into duel, chairman, Central Board of Excise and Customs (CBEC).

Lack of consensus on the issue of how the new tax, having central and state elements, would be collected and administered is holding up the supporting legislations on the Goods and Service Tax (GST), which the government is keen on introducing from April 1 next year.

He said the CBEC would also look into anti-profiteering mechanism. We are very clear that one assesse will be dealing with the administration of either state or the Centre. So the entire cross empowerment issue was, we empower each other to say that in case the state authorities look at SGST issue, they also look at CGST and vice versa, Shah said.

Mr. Shah said, there will be GST readiness on part of the government and urged the industry to be ready. On the issue of dual control among the states and the Centre, he said n++we dont want to reduce dual (GST structure) into duel.n++

The administration of state or centre will be dealing with one assesses only. So, the entire cross empowerment went was to ensure the suitability empower with each other. The both the administration centre and the state are committed too. Im sure that an issue will be resolved, added Mr. Shah.

Chairman CBEC also said that the multiplicity of GST rates is the necessity due to the economic and political compulsion. The Government unsure about exact compensation figures for states, may vary between Rs. 10,000 to 20,000 crore, said Mr. Shah.

The central government and state governments have to collect Rs 8 lakh plus crore of revenue which they are currently getting from indirect taxes other than customs. In the course of the GST council deliberations, growth rate of 14% for 5 years for each one of the states has been assumed. Its a huge assumption and the burden which central government has cast upon itself.

Addressing the conference, Chairman of CBEC said, Im sick and tired of hearing from wise people that we should have one rate of GSTn++. He further said, how can we have a one rate for edible, cars, atta, computers? We cannot have one rate but we can reach one rate 20 years down the line. So, we have to have multiple rates.

We have a wide range of commodities which is not taxed by the state administration, taxed by central excise and service tax regime and vice -versa.

We are doing the great experiments with matching of invoices, no other administration has attempted to this. The matching of invoices will hope and ensure that need for the agency to intervene their entire process will be reduced considerably, said Mr. Shah.

Need for bringing in public domain the compliance rating of each customer, added chairman, Central Board of Excise and Customs.

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Infibeam Incorporation enters into agreement with Sears Holding Management Corporation
Dec 09,2016

Infibeam Incorporation has executed an agreement with Sears Holding Management Corporation, an American Holding Company and the owner of retail store brand like Sears and Kmart etc, to provide online e-commerce platform services including advanced machine learning algorithms for enabling automated products classification at Sears Marketplace.

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Board of Time Technoplast to consider fund raising
Dec 09,2016

Time Technoplast announced that the meeting of the Board of Directors of the Company will be held on 13 December, 2016 inter-alia, to consider alternate means of fund raising including but not limiting to Preferential Issue of Securities in terms of Chapter VII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended.

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Robotics may take over 10 million jobs in 5 yrs: ASSOCHAM
Dec 09,2016

Up to 10 million jobs might be taken over by artificial intelligence or robots during the course of next five years owing to extreme technological developments taking place globally, apex industry body ASSOCHAM said.

n++The Union Government should integrate robotics as key components of its flagship Make in India, programme for attracting global manufacturers to set up their highly efficient and automated supply chain facilities in the country,n++ suggested a recent ASSOCHAM study titled Digital India to Robotic India.

The current industrial revolution globally is unfolding disruptive technologies in the form of automation, robotics, 3D printing, artificial intelligence, genomics etc., and has started eating jobs in large number and in India alone million of jobs are at stake in the next five years.

The Chamber thus, in its study has underlined an urgent need for fostering a partnership among government, industry and academia to equip people with the right skill sets.

n++The proposed partnership will be able to identify emerging skill requirements and academia, especially from developed countries would need to assist in structuring courses and setting curricula,n++ said Mr D.S. Rawat, secretary general of ASSOCHAM.

n++The Centre should create a national policy perspective for automation consisting of top level experts, representative of business, government and labour as it will set down the roadmap and guidelines to make this transition as painless as possible while assuring the stakeholders that the benefits will be widely and equitably shared,n++ said Mr Rawat.

n++This will at least sensitize the nation on the inevitability of robotics led automation in industry, manufacture, transport and distribution,n++ he added.

It is also pertinent to note that robotics technology is a settled necessity for not only making Indian industry globally competitive and the country attractive for entrepreneurs but also to promote manufacturing sector in states like Uttar Pradesh (UP) to ensure faster economic development.

ASSOCHAM has thus suggested the Government of Uttar Pradesh to dovetail its skill development policy conducive to create an enabling environment for private sector, provide better infrastructure, impart skill training to industrial workforce and promote ease of doing business across the state.

With several global auto firms setting up base in India and many hoping to export vehicles from the country both vehicle assembly and obtaining components by several Indian and joint venture (JV) component firms would require extensive automation to be at par with international standards.

In the beginning, automation and robotics would be inevitable at least where high quality and low costs on the one hand and safety of human workers are prime concern.

n++We must expect automation becoming the imperative where raw materials like rare earths or dangerous ones like radioactive metals and corrosive chemicals are in use, thus it is clear that in the hazardous industries, robotics help workers in their safety, rather than replace them,n++ said Mr Rawat.

n++As the product shelf-life shrinks, automated production processes would become inevitable to catch up with the competition domestically and globally,n++ he added.

n++Besides, in transportation of goods rapid use of containerization, automation at ports and in-time manufacture would make transportation more and more automated requiring fewer and fewer human intervention,n++ further said Mr Rawat.

The coming of driverless cars and trains is one indication. The reduction in use of fuels through greater efficiency of fuel use (cars at 25-30 km/hr are already a reality as well as cars requiring least periodic attention) would need fewer petrol pumps and repair shops, for instance.

Allaying concerns about job displacement, the study said, n++The sector automation and use of robotics need not be at the expense of labour, coexistence is possible; industry leaders must view the introduction of robots as a competitive advantage.n++

What is needed is a joint effort by all to make automation and subsequent changes in job pattern and demand on intelligence, innovation and creative work as a great opportunity to open the floodgates of enabling every individual to build his/her future in a global prosperity environment.

n++India need not fear the socio-economic churn of the coming Robotics Age but be prepared for welcoming it,n++ the study said.

Economic policies should assume that there will be accelerating movement from low wage-low skill workforce to high skill-high wage one that will endow larger spending potential to most people and that in turn will demand more leisure, more travel, more creative life styles with their attendant changes in most products and services.

n++This will assume a high voltage dynamic of the economy powered by automation and robotics.n++

All developing countries including China are rapidly moving to use of industrial and other robots and automation of many production and distribution processes while the middle income country South Korea has built its industry led prosperity with highest density of industrial robots.

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AXISCADES Engineering Technologies complete acquisition of AXISCADES Aerospace and Technologies
Dec 09,2016

AXISCADES Engineering Technologies has completed the acquisition of AXISCADES Aerospace and Technologies (ACATL), a Technology Company focusing on Aerospace & Defense and Homeland Security areas. The acquisition was carried out through a Scheme of Amalgamation of the holding company of ACATL, i.e. Indian Aviation Training Institute (IAT), with ACETL.

Shareholders of IAT (holding company of ACATL) will receive ten shares in ACETL for every 45 shares held by them. ACATL is now a 100% subsidiary of ACETL. ACETL will issue 10.57 million new shares, therebyincreasing its shares outstanding to 37.76 million. The appointed date of Scheme of Amalgamation is 1st April 2016 and the Effective Date of the Scheme is 5th December 2016.

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Jindal Steel & Power drops after posting poor Q2 results
Dec 09,2016

The result was announced after market hours yesterday, 8 December 2016.

Meanwhile, the BSE Sensex was up 17.31 points, or 0.06%, to 26,711.94.

On the BSE, 3.4 lakh shares were traded in the counter so far, compared with average daily volume of 13.26 lakh shares in the past one quarter. The stock had hit a high of Rs 74.70 and a low of Rs 71.25 so far during the day. The stock had hit a 52-week high of Rs 98.10 on 31 December 2015. The stock had hit a 52-week low of Rs 48.20 on 12 February 2016.

The stock had outperformed the market over the past 30 days till 8 December 2016, rising 1.25% compared with 3.25% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 15.54% as against Sensexs 8.09% decline.

The mid-cap company has equity capital of Rs 91.49 crore. Face value per share is Re 1.

Jindal Steel & Powers total income fell 1.5% to Rs 4666.22 crore in Q2 September 2016 over Q2 September 2015. Earnings before interest, taxes, depreciation and amortization (EBITDA) margin contracted to 18% in Q2 September 2016 compared with 21% in Q2 September 2015, on the back of lower realizations. The companys consolidated net debt as on 30 September 2016 was maintained at similar levels as of previous quarter.

The company said that overall outlook is positive for the company with improving margins accompanied by ramp up in volumes. The companys global ventures are expected to perform well in the coming quarters.

JSPL is one of Indias major steel producers with a significant presence in sectors like mining, power generation and infrastructure.

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Sail loses shine after reporting weak Q2 results
Dec 09,2016

The result was announced after market hours yesterday, 8 December 2016.

Meanwhile, the BSE Sensex was up 59.45 points, or 0.22%, to 26,753.73.

On the BSE, 40,863 shares were traded in the counter so far, compared with an average volume of 8.22 lakh shares in the past one quarter. The stock had hit a high of Rs 53.45 and a low of Rs 53 so far during the day.

Steel Authority of Indias (Sail) total income rose 20.68% to Rs 12645.76 crore in Q2 September 2016 over Q2 September 2015.

Sail is a PSU steel manufacturing company. The Government of India held 75% stake in Sail (as per the shareholding pattern as on 30 September 2016).

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MSME ministry suggest withdrawal limit to 2 lakh for micro units: Haribhai Parathibhai Chaudhary, MoS for MSME
Dec 09,2016

Ministry for Micro Small and Medium Enterprises (MSME) will suggest for increasing the withdrawal limit to 2 lakh per week for MSME sector said, Mr Haribhai Parathibhai Chaudhary, Minister of State for MSME, GoI at an ASSOCHAM event.

n++We need to be cashless economy to be the best in the world. The Demonetisation will help to control the fiscal deficitn++, said Mr. Chaudhary.

He further said that repayment of loans by farmers is 92%, much higher than big value business loans. n++Encourage MSMEs to initiate skill development for rail and defence manufacturingn++, said Mr. Chaudhary.

He further said that the government is witnessing a new trend with many MSMEs taking the e-commerce route to establish themselves in the Indian market and we are using internet not only as a marketing tool but also as a tool to enable them to understand if a unique product has high demand in the market. Indian MSMEs are looking at e-commerce as an innovative tool to build fresh business models.

Mr. Chaudhary also said by adopting e-commerce MSMEs shall achieve significant advantages such as increased revenues and margins, improved market reach, access to new markets, cost savings in marketing and communication spend, customer acquisition and improved customer experience.

Addressing the event, Mr S.N. Tripathi, Additional Secretary & Development, Commissioner (MSME), Ministry of MSME, Government of India said we need to move fast towards digitising India.

n++Inadequacy of bank branches is one primary reason why cash dominates small businesses. Many rural branches are open for just a day or two in a week. People consider bank postings in rural India as a punishment. The smaller the enterprise, the bigger the problemn++, according to a study titled, MSMEs in India: The Paradigm shift, jointly conducted by The Associated Chambers of Commerce and Industry of India (ASSOCHAM) and Resurgent India.

The study highlights that the government must realise that the small scale sector will certainly pick it up (move to e-payments). But it is a gradual process. Also, it is important to acknowledge that money generated in business is not irregular. Certain issues cannot be pushed so much that the system chokes and the outcome is distorted.

Irrespective of the bright side of upcoming GST, SMEs must be mindful of its accompanying challenges such as increase in complicate costs and alignment of IT systems with new processes. Thus, for the SMEs, GST throws a mix bag of opportunities and challenges to explore, adds the joint study.

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DST-Intel Collaborative Research for Real-Time River Water and Air Quality Monitoring
Dec 09,2016

Recognizing the importance of developing the online River Water and Air Quality Monitoring (WAQM) systems, Department of Science and Technology (DST), Government of India and Intel are collaborating to jointly initiate n++DST-Intel Collaborative Research for Real-Time River Water and Air Quality Monitoringn++ soliciting proposals from Academic/Research Institutions and providing grant-in-aid support to the selected project(s). Speaking on the occasion of Launch of the collaboration, Minister of State for Science & Technology and Earth Sciences Shri. Y.S.Chowdary said that it is joint programme of Public-Private Partnership (PPP) mode.

The Minister said that this programme is very critical for the restoration, conservation and preservation of the environment. Under the leadership of Prime Minister Narendra Modi, top priority is being given to R & D in science and technology to come out with appropriate solutions to challenges facing the nation.

The Minister added that n++at the core of any initiative, we see the role of Science and Technology everywhere....n++. Elaborating on the DST-Intel collaboration, Shri Chowdary added that n++Global experience will come in handy to tackle local challenges.n++

The aim of this initiative is to develop key technologies for sensing, communication and analysis of large-scale data collected from autonomous networks of perpetual/long-lived sensor nodes, followed by integration and deployment for water and air quality monitoring in real-time. The program will be administered by the binational Indo-U.S. Science and Technology Forum (IUSSTF). River systems have been the birthplace of civilizations all over the world. They are woven into the social and economic fabric of society and penetrate deep into the psyche of the people living around them. Nowhere is this more evident than in India where the Ganga, Indus, Narmada and other rivers possess the cultural identity transmitted down the ages through sacred literature, the Puranas and the Vedas, as well as through popular myths and legends.

The Ganga is the largest and the most important river of India, with its watershed covering 10 Indian states, namely Uttarakhand, Uttar Pradesh, Bihar, Jharkhand, West Bengal, Himachal Pradesh, Rajasthan, Haryana, Madhya Pradesh and Delhi. The river Ganga (commonly called as Bhagirathi in the stretch Gangotri to Devprayag and Hubli in the stretch Farakka to Ganga Sagar) occupies a unique position in the ethos of people of India. Emotional attachment to the river and the centers of pilgrimage on its banks runs deep and long in the Indian History.

Discharge of untreated sewage from urban centres is a major cause of water quality degradation in the river. The total wastewater generation from 222 towns in Ganga basin is reportedly 8250 MLD, out of which 2538 MLD is directly discharged into the River, 4491 MLD is disposed into its tributaries and 1220 MLD is disposed on land or low lying areas. River Yamuna is another one of the most grossly polluted rivers in the country.

Air pollution is another emerging public health concern as there is increasing amount of evidence that the quality of air significantly affects our health due to the presence of various toxic pollutants. Linking air pollution from source to adverse human health effects is a complicated phenomenon that requires a multidisciplinary approach for better understanding. Further, air quality networks need to be developed that can depict and forecast pollution levels for public with health advisories and pollution emergencies measure. It is well known that increasing levels of air pollution are linked with more illness, higher use of health services, and premature death among the exposed population groups. Further, both Household Air Pollution (HAP) and Outdoor Air Pollution (OAP) have reported to have largely detrimental effects on the quality of life.

The recent report of Global Burden of Disease (GBD) has ranked air pollution among the top ten killers in the world, and as the sixth largest killer in South Asia. In a study by UNEP-WHO, it was estimated that about 6.3 million deaths worldwide are caused by air pollution, out of which 3.3 million are due to OAP and 3.5 million due to HAP. There is increasing amount of evidence that the quality of air significantly affects our health due to the presence of various toxic pollutants and therefore air pollution is emerging as a major public health issue. GBD also estimated that air pollution causes 6,20,000 deaths everyyear making it the 5th leading cause of mortality in India.

One of the main causes of pollution in Delhi-NCR is high levels of Particulate Matter 10 (PM 10) and PM 2.5 particles smaller than 2.5 micrometers in diameter that lead to hazardous smog and causes asthma and respiratory diseases. Air quality in Delhi and National Capital Region (NCR) worsened recently to alarming levels recording PM 2.5 reading of 500 on the air quality monitoring portals, putting the pollution level in the n++severen++ category.

In order to eliminate problems associated with manual water quality monitoring, DST and Intel have come together for development of state-of-art solutions for real-time river water quality monitoring. The goal of this research would be to enable the development and eventual deployment of low-cost, low-power, autonomous wireless sensor networks to provide a fine-grained view of several critical water and air quality metrics over large geographic areas (cities, rivers, watersheds etc.). These online sensor networks for river water and air quality monitoring will provide the pre-remedial quality status and would enable to assess efficacy of post remedial interventions based on real time reliable factual data. This real time data will significantly further strengthen and complement the Missions of National priority like Namami Gange Programme and others by serving as critical data feeders for pre and post treatment analysis.

Such networks may also eventually replace the current paradigm of environmental quality management via localized stations. The development of such an Internet of Things (IoT)-based solution will require innovations in sensor technology for miniaturized platforms for continuous, always-connected multi-modal sensing, ultra-low power radios for efficient communication and energy harvesting technologies to enable very long or perpetual operation of sensor nodes. These key blocks will need to be woven together by a data analytics framework that spans edge devices, gateways and cloud-based analytics, to enable inferencing and sense-making in a low-latency manner.

Speaking on the occasion, Jitendra Chaddah, Senior Director, Operations & Strategy, Intel India, said, n++Intel has been engaged in supporting innovation and technology research, aimed at creating solutions to help address different community challenges and improve quality of life. We are very excited to collaborate with Department of Science & Technology in this advanced research program that would bring prominent academic and research institutions together to work on technology breakthroughs that can positively impact human lives.n++

The development of such an end-to-end solution comprising of several individual research elements can also potentially impact environmental quality monitoring systems in diverse contexts such as urban, domestic and industrial settings.

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Board of Millitoons Entertainment allots equity shares and warrants
Dec 09,2016

Millitoons Entertainment announced that the Board of Directors of the Company at its meeting held on 08 December 2016 has allotted 35 lakh warrants and 5 lakh equity shares to Viniato Advisors (non-promoter group) at an issue prices of Rs 63.32 (including premium of Rs 62.32).

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