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Infosys enters into JV agreement with Saudi Prerogative Company
Sep 02,2016

Infosys has entered into a joint venture agreement with Saudi Prerogative Company (SPC), in the Kingdom of Saudi Arabia to conclude IT services for customers located in the Kingdom of Saudi Arabia. The joint venture will be in the ratio of 70:30 (Infosys: SPC) and the agreement is subject to the approval of the Saudi Arabian General Investment Authority.

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Entertainment Network (India) to launch three new channels
Sep 02,2016

Entertainment Network (India) is launching 3 more channels on 05 September 2016. These are in Ahmedabad (104 FM), Jaipur (104 FM) and Surat (91.9 FM). In each of these cities, these channels are the 2nd channels belonging to the Company. The first channels are branded Radio Mirchi (all 98.3 FM). The 2nd channels will be branded Mirchi Love. Mirchi Love is a new brand that the Company is launching.

With these three launches, the company will be operating 44 channels in all.

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IL&FS Engineering & Construction Co announces change in directorate
Sep 02,2016

IL&FS Engineering & Construction Co announced that EI Mouhtaz El Sawwaf, Non-Executive Director of the Company, vide letter dated 01 September 2016, has tendered his resignation from the Directorship of the Company with effect from 01 September 2016.

Consequent to the resignation of El Mouhtaz El Sawwaf as the Director of the Company, Ahmad Dabbous, Alternate Director to Sawwaf ceased to be a Director of the Company with effect from 01 September 2016.

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DLF completes exit from cinema exhibition business
Sep 02,2016

DLF announced that DLF Utilities (DUL), a subsidiary has completed a transaction on 02 September 2016 with Cinepolis India for sale and transfer of remaining seven screens pertaining to DT Cinemas (Saket-6 screens & Greater Kailash Part 2-1 screen) as a going concern on a slump sale basis for a consideration of Rs. 63.67 crore upon receipt of CCI approval.

With the closure of this transaction, the Company will exit from the cinema exhibition business. This is in line with the Companys strategy to focus on Companys core business and divest non-core businesses or assets.

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Brahmaputra Infrastructure secures LoA from Brahmaputra Infrastructure PWD, Dehradun
Sep 02,2016

Brahmaputra Infrastructure has received a letter of Award (LOA) from the office of Chief Engineer Level - II ,National Highways & Bridge (G.M.) PWD, Dehradun, Uttarakhand for the project of Construction of 4 Lane ROB in Km 161 on NH - 72 ( New No. 07), at Ajabpur Railway Crossing in state of Uttrakhand in EPC Mode.

The accepted bid projects is Rs. 49.80 Crores.

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R Systems International plans to set up additional business unit
Sep 02,2016

R Systems International announced that the Board of Directors of the Company by passing resolution through circulation on 02 September 2016 has inter alia approved the setting up of an additional business unit of the Company in a Special Economic Zone at Greater Noida West (U.P.).

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Symphony fixes record date for bonus issue
Sep 02,2016

Symphony has fixed 15 September 2016 as the Record Date for the purpose of determining members who shall be entitled to bonus equity shares in the proportion of 1 (one) fully paid up bonus equity share of Rs. 2 each for 1 (one) fully paid up equity share of Rs. 2 each held by the members.

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Caprihans India standalone net profit rises 74.12% in the June 2016 quarter
Sep 02,2016

Net profit of Caprihans India rose 74.12% to Rs 3.97 crore in the quarter ended June 2016 as against Rs 2.28 crore during the previous quarter ended June 2015. Sales declined 6.86% to Rs 55.50 crore in the quarter ended June 2016 as against Rs 59.59 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales55.5059.59 -7 OPM %7.286.14 - PBDT4.774.25 12 PBT3.973.55 12 NP3.972.28 74

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GE Power India reports standalone net loss of Rs 63.01 crore in the June 2016 quarter
Sep 02,2016

Net loss of GE Power India reported to Rs 63.01 crore in the quarter ended June 2016 as against net profit of Rs 12.43 crore during the previous quarter ended June 2015. Sales declined 8.53% to Rs 383.84 crore in the quarter ended June 2016 as against Rs 419.62 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales383.84419.62 -9 OPM %-19.45-1.18 - PBDT-43.3233.62 PL PBT-57.8219.12 PL NP-63.0112.43 PL

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Assam Company India to hold AGM
Sep 02,2016

Assam Company India announced that the 39th Annual General Meeting (AGM) of the company will be held on 23 September 2016.

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Mitshi India to hold AGM
Sep 02,2016

Mitshi India announced that the Annual General Meeting (AGM) of the company will be held on 27 August 2016.

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Hindustan Organic Chemicals to hold AGM
Sep 02,2016

Hindustan Organic Chemicals announced that the 55th Annual General Meeting (AGM) of the company will be held on 29 September 2016.

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Data Tariffs to See a Major Correction Due to the Disruptive Launch of RJio
Sep 02,2016

Data tariff structures are likely to be disrupted following the launch of services by Reliance Jio Infocomm Limited (RJio), while data volumes and subscriber growth will accelerate, says India Ratings and Research (Ind-Ra). The agency expects the launch of RJio, which has a data centric strategy, to intensify competition which will squeeze the market share, EBITDA margins and credit metrics of incumbents. Large telecom companies (telcos: Bharti Airtel, Vodafone India and Idea Cellular) have already undertaken pre-emptive price cuts by offering higher data volumes for the same price to retain customers.

Ind-Ra believes that the launch of RJio will accelerate 4G adoption in India, backed by its attractive tariffs, low cost handset pricing, perceived superior quality of services driven by its huge investment in network. RJio, which is officially launching services from 5 September 2016, will be offering data services free for four months, after which it will offer 10 tariff plans starting at INR19 a day for occasional users, INR149 a month for low data users and INR4,999 a month for heavy data users. Prima-facie RJios pricing is not just highly competitive but also challenges the prevalent tariff structures asRJio will offer free voice calling and SMS services bundled with the data tariff. This could hurt the voice tariffs and average revenue per user (ARPU) of existing operators as well as pushing them to match the pricing, in a bid to protect their market share.

RJio may look to disrupt some of the prominent geographies of existing operators, leading to a re-distribution of the market share which is concentrated among the top three operators,. The incumbents debt profile will deteriorate in FY17 as the agency expects them to incur high capex on network expansion and acquisition of additional spectrum to compete with RJio.

Ind-Ra had highlighted in the report RJio to Up the Ante for Telecom Operators in FY17 that data revenues will remain stagnant on a 30%-40% decline in data realisations/megabyte (MB) in FY17 driven by RJios launch, while support from data consumption growth to data average revenue per user (ARPU) will be gradual. Ind-Ra expects RJio to not just contend for market share out of the existing pie of subscribers which are being serviced by incumbent operators but also lead to acceleration in data subscriber growth. RJio has incurred aggregate pre-launch capex of around INR1.75trn signifying the magnitude of its potential reach and capabilities.

Ind-Ra highlighted in the report Market Wire: Telcos to Exercise Selective Bidding; Spectrum Acquisition Strategy to Revolve Around 4G that the top telcos already have moderate-to-high leverage levels, which will weigh on their ability to reduce rates at a time when they are expected to invest in the spectrum auctions later in October 2016. Idea reported a higher net debt/EBITDA ratio in FY16 at 3.25x (FY15: 1.31x), which is the peak financial leverage of the last five years. Bhartis financial leverage stood at 2.4x in FY16, which is expected to go up in FY17 with the increase in capex and margin moderation due to the intensifying competition in the data segment. Reliance Communications Ltd (RCom) on the other hand is highly leveraged (net debt/EBITDA: 5.6x in FY16).

Bharti has the largest spectrum holding at present, of the total 770MHz, across bands (900MHz, 1,800MHz, 2,100MHz and 2,300MHz); followed by Reliance Jio Infocomm (RJio), which holds 596MHz spectrum across 800MHz, 1,800MHz, and 2,300MHz bands and then followed by Vodafone (302MHz) and Idea (271MHz).

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Apunka Invest Commercial to hold AGM
Sep 02,2016

Apunka Invest Commercial announced that the Annual General Meeting (AGM) of the company will be held on 27 September 2016.

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Response Informatics to hold AGM
Sep 02,2016

Response Informatics announced that the 19th Annual General Meeting (AGM) of the company will be held on 30 September 2016.

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