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Aptech hits the roof after Jhunjhunwala hikes stake
Sep 08,2016

Meanwhile, the BSE Sensex was up 117.36 points, or 0.41%, to 29,043.72.

On BSE, so far 2.58 lakh shares were traded in the counter, compared with average daily volume of 4.08 lakh shares in the past one quarter. The stock was frozen at 175.05, which is also a 52-week high for the counter. The stock hit a low of Rs 167 in initial trade. The stock hit a 52-week low of Rs 51.60 on 12 February 2016. The stock had outperformed the market over the past 30 days till 7 September 2016, rising 71.41% compared with 3% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 134.39% as against Sensexs 8.08% rise.

The small-cap IT training services firm has equity capital of Rs 39.89 crore. Face value per share is Rs 10.

Investor Rakesh Jhunjhunwala bought an additional 16.03 lakh shares of Aptech. The additional shares were purchased between 9 August 2016 and 7 September 2016. With this purchase, Jhunjhunwala now holds 1.96 crore equity shares, or 49.30% of Aptech. The disclosure was made after market hours yesterday, 7 September 2016.

Moreover, Aptech announced after market hours yesterday, 7 September 2016, its foray into preschool education, through a strategic alliance with Montana International Preschool. Branded Montana International Preschool powered by Aptech (MIPA), the alliance intends to set up 1000 preschools in India over the next two years. The course curriculum has been developed by a team of experts from Aptech and Montana International Preschool.

On a consolidated basis, net profit of Aptech declined 1.37% to Rs 0.46 crore on 18.22% rise in net sales to Rs 57.92 crore in Q1 June 2016 over Q4 March 2016.

Aptech has been the pioneer in the education and training business for the past thirty years. With a current presence in more than 1300 centers, Aptech has effectively ventured into ten diverse sectors ranging from IT training to personal development. With a presence in 40 emerging countries, it has successfully trained over 6.8 million students through its two main streams of business- individual training and enterprise business.

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IRB Infra jumps as investment trust files for IPO
Sep 08,2016

The announcement was made during trading hours today, 8 September 2016.

Meanwhile, the BSE Sensex was up 103.63 points, or 0.36%, to 29,029.99.

On BSE, so far 9.59 lakh shares were traded in the counter, compared with average daily volume of 2.24 lakh shares in the past one quarter. The stock hit a high of Rs 253.15 and a low of Rs 230.65 so far during the day. The stock hit a 52-week high of Rs 272.20 on 20 October 2015. The stock hit a 52-week low of Rs 197 on 24 June 2016. The stock had outperformed the market over the past 30 days till 7 September 2016, rising 9.71% compared with 3% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 6.53% as against Sensexs 8.08% rise.

The mid-cap company has equity capital of Rs 351.45 crore. Face value per share is Rs 10.

IRB Infrastructure Developers is the sponsor of the IRB InvIT Fund (the Trust), an infrastructure investment trust registered with the Securities and Exchange Board of India (Sebi).

IRB Infrastructure, a wholly-owned subsidiary of the company and the investment manager to the Trust, has filed a draft offer document dated 7 September 2016, in relation to an initial public offer (IPO) of units representing an undivided beneficial interest in IRB InvIT Fund, with Sebi.

The IPO consists of a fresh issue of units, aggregating up to Rs 4300 crore, by IRB InvIT Fund (the fresh issue), and an offer for sale of units by the company and certain of its subsidiaries, namely Modern Road Makers, Aryan Toll Road, ATR Infrastructure and Ideal Road Builders. The investment manager reserves the option to retain oversubscription of up to 25% of the issue size in accordance with the InvIT Regulations.

Media reports suggested that the proposed IPO will unlock the investment value of IRB Infrastructure subsidiaries and boost the book value of the company.

On a consolidated basis, net profit of IRB Infrastructure Developers rose 10.41% to Rs 181.84 crore on 36.83% rise in net sales to Rs 1517.33 crore in Q1 June 2016 over Q1 June 2015.

IRB Infrastructure Developers is an integrated infrastructure development and construction company with significant experience in toll roads and highways sector. The company is one of the largest private developers in India.

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TV Today Network moves north after good Q1 outcome
Sep 08,2016

The result was announced during market hours today, 8 September 2016.

Meanwhile, the S&P BSE Sensex was up 107.96 points or 0.37% at 29,034.32.

On BSE, so far 1.38 lakh shares were traded in the counter as against average daily volume of 9,356 shares in the past one quarter. The stock hit a high of Rs 327.10 and a low of Rs 298.65 so far during the day. The stock had hit a record high of Rs 350.50 on 18 February 2016. The stock had hit a 52-week low of Rs 205 on 8 September 2015. The stock had underperformed the market over the past one month till 7 September 2016, sliding 0.53% compared with 3.02% rise in the Sensex. The scrip had also underperformed the market in past one quarter, advancing 2.04% as against Sensexs 7.1% rise.

The small-cap company has equity capital of Rs 29.83 crore. Face value per share is Rs 5.

TV Today Network is engaged in news broadcasting operations. The company is a part of India Today group and operates a network of TV news channels.

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Procurement of Moong by Government agencies starts, process to be expended for Urad and Tur also
Sep 08,2016

The Government agencies have been directed to expand procurement of pulses directly from the farmers in all pulses producing States.

Procurement of Moong has already started by the agencies in Karnataka and Maharashtra and it will be soon expanded to other states according to arrivals. The agencies have been directed to take up procurement of Urad from September 15, 2016 and Tur also immediate from its arrival.

The directions in this regard were given by the Cabinet Secretary, Shri P.K. Sinha during a meeting held here today to review the prices and availability of essential commodities, especially pulses. All the concern Ministries and Departments have been directed to strengthen monitoring mechanism to ensure availability of these commodities at reasonable prices during the coming festival season.

The meeting was attended by Secretaries of Department of Consumer Affairs, Department of Food, Department of Revenue, Ministry of Commerce and by senior officials of related Ministries.

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Precision Camshafts declines after uninspiring Q1 numbers
Sep 08,2016

The result was announced after market hours yesterday, 7 September 2016.

Meanwhile, the S&P BSE Sensex was up 66.05 points or 0.23% at 28,992.41.

On BSE, so far 3,799 shares were traded in the counter as against average daily volume of 13,618 shares in the past one quarter. The stock hit a high of Rs 146.45 and a low of Rs 143.10 so far during the day. The stock had hit a record high of Rs 184.70 on 8 February 2016. The stock had hit a record low of Rs 126.15 on 8 July 2016. The stock had underperformed the market over the past one month till 7 September 2016, sliding 1.01% compared with 3.02% rise in the Sensex. The scrip had also underperformed the market in past one quarter, advancing 6.46% as against Sensexs 7.1% rise.

The small-cap company has equity capital of Rs 94.74 crore. Face value per share is Rs 10.

Precision Camshafts, promoted by first generation entrepreneurs Yatin Shah and Suhasini Shah, is one of the worlds leading manufacturers of camshafts, a critical engine component in passenger vehicles.

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Yes Bank slips after launching QIP
Sep 08,2016

The announcement was made after market hours yesterday, 7 September 2016.

Meanwhile, the BSE Sensex was up 61.49 points, or 0.21%, to 28,987.85.

On BSE, so far 3.30 lakh shares were traded in the counter, compared with average daily volume of 1.78 lakh shares in the past one quarter. The stock hit a high of Rs 1,390.25 and a low of Rs 1,330.25 so far during the day. The stock hit a 52-week high of Rs 1,450 on 7 September 2016. The stock hit a 52-week low of Rs 632.25 on 20 January 2016. The stock had outperformed the market over the past 30 days till 7 September 2016, 11.59% compared with 3% rise in the Sensex. The scrip had also outperformed the market in past one quarter, 35.10% as against Sensexs 8.08% rise.

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

Yes Bank announced opening of qualified institutions placement (QIP) of equity shares of face value Rs 10 each by the bank yesterday, 7 September 2016. The bank announced Rs 1,371.84 per share as the floor price. The bank may at its discretion offer a discount of up to 5% on the floor price in the QIP, the notification said.

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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Just Dial gets RBI approval for operating semi-closed pre-paid payment instrument service
Sep 08,2016

Just Dial has received a letter dated 06 September 2016 from Reserve Bank of India granting in-principle approval for issuing and operating payment system for semi-closed pre-paid payment instrument service.

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Board of VXL Instruments approves withdrawal of scheme of amalgamation
Sep 08,2016

VXL Instruments announced that the Board of Directors of the Company at its meeting held on 08 September 2016, has decided and approved the withdrawal of Scheme of Amalgamation of VXL Instruments with Priya which was approved in its board meeting held on 29 March 2016.

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Organised Jewellery Retailers Get their Glitter Back
Sep 08,2016

After the contraction in demand for jewellery in 1HCY16, organised jewellery retailers are expected to witness a change in fate in the next three quarters and record 10%-12% top line growth in FY17, says India Ratings and Research (Ind-Ra). The sector posted flat revenue growth in FY16 and low single digit growth in Q1FY17. Ind-Ra believes that the higher number of wedding days coupled with reduced obstacles on the regulatory front will drive volumes.

The World Gold Council highlighted that gold imports contracted and jewellery demand fell by 32% in H1CY16 to around 186 tonnes in India. The key hurdles that the industry faced in 1HCY16 have been 1) strike by jewellers on account of imposition of excise duty and government regulations, 2) delays in purchases on the expectation of fall in gold prices, 3) increase in recycled gold, and 4) possibility of higher share of unaccounted gold in the system due to the spike in prices, regulatory hurdles and levy of excise duty.

Higher number of wedding days in H2FY17 (both on a sequential and year on year basis) together with fading regulatory hurdles is likely to provide a boost to the revenue growth in the coming quarters. Wedding jewellery is a key driver for demand and accounts for 60%-65% of the market demand.

Additionally, the Governments recent measures namely, increase in the limit of collectible amount under the Gold Savings Scheme to 35% from 25% of net worth and the compulsory hallmarking of jewellery will boost the organised jewellery sector and aid in shifting some of the demand from the unorganised sector. The Gold Savings Scheme contributed 15%-30% of the revenues for the organised jewellers; prior to 2014 when it was closed by the Government. Although the Government resumed the Scheme in 2015, the maximum collectible amount was capped at 25% of the net worth.

The agency believes that organised jewellery retailers are likely to see an improvement in EBITDA margins in FY17 by 100-200bp (FY16: around 8%) on the back of the increased share of high margin diamond jewellery and higher gold prices. However the expansion through franchisee mode may constrain the improvement in margins, given the lower mark up in this channel.

Organised jewellers also face an overhang of the impending GST Bill. The GST committee report recommends an all-inclusive tax rate of 2%-6% on precious metals. The sector currently pays VAT and excise at 1% each and hence the GST rate over and above 2% is likely to increase the tax incidence on end consumers. We expect any increase on account of higher GST to be passed on to the end consumer; albeit it may impact non-wedding segment demand and prompt customers to opt for the unorganised sector.

Jewellery retailers suffered major disruptions in the last two quarters on account of closure of business, due to the jewellers 42-day strike which began in March 2016 in response to the Government regulations namely imposition of excise duty and mandatory pan card requirement for jewellery purchases above INR0.2m. Additionally, consumer demand for jewellery remained muted on account of high as well as volatile gold prices (gold prices have increased about 27% yoy in the H1CY16 to around INR30,000/10gm).

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Board of Priya approves withdrawal of scheme of amalgamation
Sep 08,2016

Priya announced that the Board of Directors of the Company in their meeting held on 08 September 2016 has decided and approved the withdrawal of Scheme of Amalgamation of VXL Instruments with Priya, which was approved in its board meeting held on 29 March 2016, due to dilution in the intended synergies between the companies.

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Bank of India allots equity shares to GoI
Sep 08,2016

Bank of India has allotted 12,06,60,113 equity shares of Rs. 10/- each to Government of India (Promoters) at a price of Rs. 110.89 per Share through preferential issue.

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Solar Industries gains after decent Q1 earnings
Sep 08,2016

The result was announced after market hours yesterday, 7 September 2016.

Meanwhile, the S&P BSE Sensex was up 80.73 points or 0.28% at 29,007.09.

On BSE, so far 3,957 shares were traded in the counter as against average daily volume of 8,907 shares in the past one quarter. The stock hit a high of Rs 669.95 and a low of Rs 639.15 so far during the day. The stock had hit a 52-week high of Rs 759.90 on 14 July 2016. The stock had hit a 52-week low of Rs 570 on 29 February 2016. The stock had underperformed the market over the past one month till 7 September 2016, advancing 1.09% compared with 3.02% rise in the Sensex. The scrip had also underperformed the market in past one quarter, gaining 3.43% as against Sensexs 7.1% rise.

The large-cap company has equity capital of Rs 18.10 crore. Face value per share is Rs 2.

Solar Industries India manufactures and exports civilian explosives and detonators.

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Board of BigBloc Construction recommends final dividend
Sep 08,2016

BigBloc Construction announced that the Board of Directors of the Company at its meeting held on 24 May 2016, inter alia, have recommended the final dividend of Rs 0.2 per equity Share (i.e. 2%) , subject to the approval of the shareholders.

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Volumes jump at Abbott India counter
Sep 08,2016

Abbott India clocked volume of 1.07 lakh shares by 12:46 IST on BSE, a 210.01-times surge over two-week average daily volume of 1,000 shares. The stock rose 0.70% to Rs 4,613.85.

Patel Engineering notched up volume of 30.51 lakh shares, a 14.75-fold surge over two-week average daily volume of 2.07 lakh shares. The stock rose 9.93% to Rs 93.55.

Bannari Amman Sugars saw volume of 51,000 shares, a 10.42-fold surge over two-week average daily volume of 5,000 shares. The stock rose 0.43% to Rs 1,960.

Federal-Mogul Goetze (India) clocked volume of 1.03 lakh shares, a 10.29-fold surge over two-week average daily volume of 10,000 shares. The stock fell 5.66% to Rs 503.85.

Jammu & Kashmir Bank saw volume of 19.19 lakh shares, a 9.83-fold rise over two-week average daily volume of 1.95 lakh shares. The stock rose 11.03% to Rs 79.05.

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Anik Industries to hold AGM
Sep 08,2016

Anik Industries announced that the Annual General Meeting (AGM) of the company will be held on 29 September 2016.

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