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Unisys Softwares and Holding Industries announces change in direcorate
Jan 05,2017

Unisys Softwares and Holding Industries announced that Renu Kedia, Non-Executive, Independent Director of the Company, has resigned from the Directorship of the Company w.e.f. 04 January 2017 and in her place, Saroj Devi Kothari has been appointed as Additional Director, (Independent) of the Company with effect from 04 January 2017 and will hold the office till conclusion of next Annual General Meeting.

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Entertainment Network (India) commences broadcast from 3rd radio station Mirchi Love
Jan 05,2017

Entertainment Network (India) has on 05 January 2017 commenced broadcast from its 3rd radio station at Hyderabad (3rd channel - 104 FM - acquired under Phase 3 auctions held last financial year). The 3rd channel has been branded Mirchi Love. ENIL is the only broadcaster to have 3 stations in any city in India.

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Siyaram Silk Mills provides update on scheme of amalgamation
Jan 05,2017

Siyaram Silk Mills announced that the Honble High Court of Judicature at Bombay has approved the Scheme of Amalgamation of Balkrishna Synthetics (n++the Transferor Companyn++) with Siyaram Silk Mills (n++the Companyn++ or n++the Transferee Companyn++) vide order dated 22 November 2016. The certified copy of the order has been issued on 04 January 2017.

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Strong rally in BGR Energy comes to halt on profit booking
Jan 05,2017

Meanwhile, the S&P BSE Sensex was up 225.36 points or 0.85% at 26,858.49.

On the BSE, 63,000 shares were traded on the counter so far as against the average daily volumes of 43,694 shares in the past one quarter. The stock had hit a high of Rs 126.85 and a low of Rs 122.95 so far during the day.

The stock had hit a 52-week high of Rs 138.80 on 6 January 2016 and a 52-week low of Rs 89.40 on 12 February 2016. It had outperformed the market over the past one month till 4 January 2017, surging 11.27% compared with the Sensexs 1.53% rise. The scrip had also outperformed the market in past one quarter, advancing 10.92% as against the Sensexs 6% fall.

The small-cap company has equity capital of Rs 72.16 crore. Face value per share is Rs 10.

Shares of BGR Energy Systems rallied 16.97% in preceding seven straight trading sessions to settle at Rs 125.40 yesterday, 4 January 2017, from its close of Rs 107.20 on 26 December 2016. The stock had settled higher by surging 6.32% in a single trading session yesterday, 4 January 2017, after the company during market hours announced that it has recently won two large value contracts aggregating to Rs 650 crore for water treatment projects.

The company had in November 2016 announced receiving a letter of award from Neyveli Uttar Pradesh (NUPPL) for balance of plant (BoP) contract for the 3 x 660 megawatts (MW) super critical Ghatampur thermal power project, Uttar Pradesh. The total lump sum price of this contract was Rs 2788.60 crore.

BGR Energy Systems order book now stands at Rs 10425 crore.

BGR Energy Systems net profit rose 35.4% to Rs 10.70 crore on 0.4% decline in net sales to Rs 824.66 crore in Q2 September 2016 over Q2 September 2015.

BGR Energy Systems is a leading engineering, procurement and construction (EPC) and balance of plant (BoP) engineering and contracting company for power projects in India.

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Moodys and ICRA: Stable outlook for Indian corporates reflects sustained economic growth
Jan 05,2017

Moodys Investors Service and its Indian affiliate, ICRA, say that their stable outlook for non-financial corporates in India (rated Baa3 positive by Moodys) over the next 12-18 months reflects in large part the countrys sustained economic growth.

Strong GDP growth, capacity additions and stabilizing commodity prices will support EBITDA growth of 6%-12% over the next 12-18 months, says Laura Acres, a Managing Director in Moodys Corporate Finance Group.

Moodys also points out that the capex cycle for Indian corporates has peaked, as projects near completion, and declining investments will slow the pace of borrowing over the next 12-18 months. Moreover, refinancing needs are manageable for most corporates in 2017, given their better access to the capital markets and large cash balances.

As for specific sectors, our outlook for the power, hotel and sugar industries is stable, while that for the real estate and cement sectors is negative, says Subrata Ray, Senior Group President and Head of Research for ICRA.

ICRA says that distribution utilities will benefit from the lower cost of power purchases, due to improved domestic coal availability, the subdued tariff level of short-term traded power, and flexibility provided by the government to generating companies for the optimal utilization of coal.

ICRA also points out that an improvement in domestic coal availability has substantially mitigated coal supply risk and the risk of under-recovery in fuel costs n++ due to a reliance on costlier coal imports n++ for thermal independent power producers.

Moodys stable outlook for exploration & production companies reflects higher production volumes, low subsidy burdens and a recovery in oil prices, which will offset lower natural gas prices and higher royalty payments.

In the refining & marketing segment, Moodys says that its stable outlook is based on the fact that capacity additions will partly offset weaker refining margins, while marketing margins will remain stable.

Moodys also maintains a stable outlook on the Indian telecommunications sector. Moodys says that while companies in this sector face intensifying competition n++ which will pressure margins n++ such a situation should be offset by growth in data consumption.

As for the auto sector, Moodys says that its outlook for the industry is stable, because companies in this industry should benefit from improving customer sentiment, following an above-average monsoon season, as well as likely falling vehicle prices, after the implementation of the goods and services tax in April 2017 that will replace a web of taxes. In the near term, however, sales volumes could be negatively affected by demonetization.

ICRA explains that its outlook on the cement sector is negative, because cement demand growth n++ which has stagnated around the mid-single digit over the last few years n++ will likely be further negatively affected by demonetization through the real estate sector, which is a major consuming segment.

In the short-term, ICRA says that the cement industry will likely experience stretched receivables, given their need to provide liquidity to offset the impact of demonetization. ICRA points out that cement prices have fallen across regions following demonetization; this situation, combined with increased input prices n++ such as petcoke and rising freight costs n++ will adversely affect profitability.

ICRAs outlook on the sugar sector is stable. ICRA expects domestic sugar production to fall 8% during October 2016 - September 2017 on lower cane availability, owing to poor monsoons in CY 2015. While monsoons have been relatively better in CY 2016, its impact on sugarcane production will be felt only between October 2017- September 2018. Accordingly, ICRA expects sugar prices to remain firm in the near-term, on lower production, low sugar stocking levels and a global supply deficit.

ICRA points out that while sugar prices have remained strong, cane prices have only increased modestly. This situation, along with strong by-product prices for molasses, alcohol, and bagasse should support profit margins for sugar companies. However, company balance sheets will remain under strain, due to past losses.

With the real estate sector, Moodys expects the countrys demonetization to negatively affect sales volumes. Nevertheless, volumes will start to pick up, as interest rates fall.

On the hotel industry, ICRA says that large supply additions n++ which had plagued the industry in the past several years n++ will likely moderate to a compound annual growth rate of about 8% over the next four years.

Based on the improved supply absorption n++ supported by double-digit growth in demand n++ ICRA expects a gradual improvement in revenue per available room. Better profit margins will also improve debt coverage indicators.

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Savant Infocomm to announce December quarter results
Jan 05,2017

Savant Infocomm announced that a meeting of the Board of Directorsscheduled on 17 January 2017 to consider, inter alia the un-audited financial results for the quarter ended 31 December 2016.

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Board of Maruti Securities to consider December quarter results
Jan 05,2017

Maruti Securities announced that a meeting of the Board of Directors of the Company will be held on 23 January 2017, to approve the Unaudited Financial Results for the quarter ended 31 December 2016.

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Agenda for board meeting of Persistent Systems
Jan 05,2017

Persistent Systems announced that the meeting of the Board of Directors of the Company is scheduled to be held on January 20, 2017 and will continue on 21 January 2017, to consider inter alia, the following businesses:

1. The Audited Financial Results of the Company for the quarter and period ended 31 December 2016 (Q3)

2. The Audited Financial Results of the Company and its subsidiaries for the quarter and period ended 31 December 2016

3. The payment of Interim Dividend, if any, for the Financial Year 2016-17.

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Board of Cadila Healthcare to approve Q3 and 9M results
Jan 05,2017

Cadila Healthcare announced that the meeting of the Board of Directors of the Company will be held on 31 January 2017 to consider inter alia, to approve the un-audited financial results for the quarter / nine months ended on 31 December 2016 (Q3).

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Elcid Investments to announce December quarter results
Jan 05,2017

Elcid Investments announced that the meeting of Board of Directors of the Company is scheduled to be held on 19 January 2017 to consider and take on record the audited financial results for the quarter ended on 31 December 2016.

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Rosekamal Textiles to announce December quarter results
Jan 05,2017

Rosekamal Textiles announced that the Board of Directors are scheduled to meet on 24 January 2017 to consider interalia, Quarterly unaudited performance of the Company for three months ended 31 December 2016.

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Volumes jump at NRB Bearings counter
Jan 05,2017

NRB Bearings clocked volume of 5.01 lakh shares by 13:17 IST on BSE, a 246.24-times surge over two-week average daily volume of 2,000 shares. The stock surged 4.72% at Rs 112.

Carborundum Universal notched up volume of 4.07 lakh shares, a 63.31-fold surge over two-week average daily volume of 6,000 shares. The stock rose 1.33% at Rs 254.50.

MBL Infrastructures saw volume of 16.66 lakh shares, a 30.54-fold surge over two-week average daily volume of 55,000 shares. The stock was locked at 5% upper circuit at Rs 38.25.

Supreme Industries clocked volume of 60,000 shares, a 28.49-fold surge over two-week average daily volume of 2,000 shares. The stock lost 1.3% at Rs 876.80.

Just Dial saw volume of 8.64 lakh shares, a 7.1-fold rise over two-week average daily volume of 1.22 lakh shares. The stock jumped 12.63% at Rs 386.55.

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Board of ICICI Bank to consider Q3 and 9M results
Jan 05,2017

ICICI Bank announced that the Board of Directors of the Bank will, inter alia, consider the approval of audited accounts for the quarter and nine months ended 31 December 2016 (Q3) at its Meeting to be held on 31 January 2017.

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Bijlee Textiles to announce December quarter results
Jan 05,2017

Bijlee Textiles announced that the Board of Directors are scheduled to meet on 24 January 2017 to consider interalia, Quarterly unaudited performance of the company for three months ended 31 December 2016.

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Board of Manappuram Finance to consider Q3 results
Jan 05,2017

Manappuram Finance announced that the Board of Directors of the Company will be meeting on 09 February 2017 interalia to consider the Un-audited Consolidated and Standalone Financial Results of the Company for the quarter ended 31 December 2016 (Q3).

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