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Expansion of India - Chile Preferential Trade Agreement (PTA)
Sep 06,2016

An agreement on the expansion of India-Chile Preferential Trade Agreement (PTA) was signed between India and Chile in a meeting held between Ms. Rita Teaotia, Commerce Secretary and Mr. Andrn++s Barbn++ Gonzn++lez, Ambassador, Embassy of Chile on 6th September, 2016.

A Preferential Trade Agreement (PTA) between India and Chile was earlier signed on March 8, 2006 and came into force with effect from August, 2007. In the original PTA concluded in March 2006, Indias offer list to Chile consisted of 178 tariff lines the Margin of Preference (MoP) ranging from 10%-50% at 8-digit level and Chiles offer list to India consisted of 296 tariff lines with MoP ranging from 10% - 100% at 8-digit level.

Under the expanded PTA, Chile has offered concessions to India on 1798 tariff lines with Margin of Preference (MoP) ranging from 30%-100% and India has offered concessions to Chile on 1031 tariff lines at 8-digit level with MoP ranging from 10%-100%. Indias export basket with Chile is diversified and keeping in view the wide variety of tariff lines offered by Chile, the expanded PTA would immensely benefit India.

Among the LAC countries, Chile was the third largest trading partner of India during 2015-16. Indias bilateral trade with Chile stood at US$ 2.64 billion with exports at US$ 0.68 billion and imports at US$ 1.96 billion respectively during 2015-16(P). Indias exports to Chile are diverse which consist of transport equipment, drugs and pharmaceuticals, yarn of polyester fibres, tyres and tubes, manufacture of metals, articles of apparel, organic/inorganic and agro chemicals, textiles, readymade garments, plastic goods, leather products, engineering goods, imitation jewellery, sports goods and handicrafts. Major items of Import from Chile are copper ore and concentrates, iodine, copper anodes, copper cathodes, molybdenum ores & concentrates, lithium carbonates & oxide, metal scrap, inorganic chemicals, pulp & waste paper, fruits & nuts excluding cashews, fertilizers and machinery.

India has friendly relations with Chile. Chile has been cooperating with India at the International fora and expansion of India Chile PTA will enhance the trade and economic relations between the two countries. The expansion would be an important landmark in India-Chile relations and consolidate the traditional fraternal relations that have existed between India and LAC countries.

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Lupin gains after tentative USFDA nod for generic drug
Sep 06,2016

The announcement was made during market hours today, 6 September 2016.

Meanwhile, the S&P BSE Sensex was up 308.66 points or 1.08% at 28,840.77.

On BSE, so far 44,000 shares were traded in the counter as against average daily volume of 1.15 lakh shares in the past one quarter. The stock hit a high of Rs 1,537.50 and a low of Rs 1,514.50 so far during the day. The stock had hit a record high of Rs 2,127 on 6 October 2015. The stock had hit a 52-week low of Rs 1,294.05 on 29 March 2016. The stock had underperformed the market over the past one month till 2 September 2016, sliding 11.05% compared with Sensexs 1.97% rise. The scrip had also underperformed the market in past one quarter, gaining 2.73% as against Sensexs 6.29% rise.

The large-cap company has equity capital of Rs 90.21 crore. Face value per share is Rs 2.

Lupin announced that its US subsidiary, Gavis Pharmaceuticals LLC, USA has received tentative approval for its Moxifloxacin Hydrochloride Tablets, 400 mg from the United States Food & Drug Administration (USFDA) to market a generic version of Bayer Healthcare Pharmaceuticals Incs Avelox Tablets, 400 mg (base). It is a fluoroquinolone antibacterial indicated for the infections in adults 18 years of age and older caused by designated susceptible bacteria in certain conditions. Avelox has annual US sales of $30.1 million as per IMS MAT June 2016 data.

Lupins consolidated net profit rose 55.1% to Rs 881.95 crore on 40% growth in net sales to Rs 4313.56 crore in Q1 June 2016 over Q1 June 2015.

Lupin is a pharmaceutical company producing and developing a wide range of branded & generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally. The company is a significant player in the cardiovascular, diabetology, asthma, pediatric, CNS, GI, anti-infective and NSAID space and holds global leadership position in the anti-TB segment.

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Jubilant FoodWorks tumbles after weak Q1 results
Sep 06,2016

The result was announced on Saturday, 3 September 2016. The stock market was closed yesterday, 5 September 2016 on account of Ganesh Chaturthi.

Meanwhile, the S&P BSE Sensex was up 311.09 points or 1.09% at 28,843.20.

On BSE, so far 1.53 lakh shares were traded in the counter as against average daily volume of 44,498 shares in the past one quarter. The stock hit a high of Rs 1,122.65 and a low of Rs 1,065 so far during the day. The stock had hit a 52-week low of Rs 896.65 on 12 February 2016. The stock had hit a 52-week high of Rs 1,689.30 on 6 October 2015. The stock had underperformed the market over the past one month till 2 September 2016, sliding 7.62% compared with Sensexs 1.97% rise. The scrip had, however, outperformed the market in past one quarter, surging 15.95% as against Sensexs 6.29% rise.

The mid-cap company has equity capital of Rs 65.84 crore. Face value per share is Rs 10.

Jubilant FoodWorks Chairman Shyam S. Bhartia and Co-Chairman Hari S. Bhartia said that a contrained consumption environment had an effect on the companys overall performance in Q1 June 2016. The management expects Q2 September 2016 to see improved performance and positive same store growth.

In its outlook, Jubilant FoodWorks said that the company has a target of around 130-140 new Dominos Pizza and around 15 new Dunkin Donuts restaurants for the current financial year (FY 2017) of which it had successfully opened 36 Dominos Pizza and 8 Dunkin Donuts restaurants so far.

Jubilant FoodWorks board of directors at its meeting held on 3 September 2016, appointed Sachin Sharma as the new President and Chief Financial Officer (CFO) of the company with immediate effect. Sharma will head the Finance & Accounts, Secretarial & Legal functions.

Jubilant FoodWorks and its subsidiary operates Dominos Pizza brand with the exclusive rights for India, Nepal, Bangladesh and Sri Lanka. It operates 1,062 Dominos Pizza restaurants across 248 cities (as of 3 September 2016). The company launched Dunkin Donuts in India in April 2012 in Delhi. The company has 73 Dunkin Donuts restaurants across 23 cities in India (as of 3 September 2016).

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Credit for unclaimed TDS made on declared income shall be allowed
Sep 06,2016

The Income Declaration Scheme, 2016 (the Scheme) provides an opportunity to persons who have not paid full taxes in the past to come forward and declare their undisclosed income and assets. The Scheme has come into effect from 1 June 2016 and is open for declarations up to 30 September 2016. The Income Declaration Scheme, 2016 Rules (the Rules) have been notified on 19 May 2016. The amount payable under the Scheme can be paid in instalments viz. 25% of the total amount payable by 30 November 2016; another 25% by 31 March 2017 and balance 50% by 30 September 2017.

In order to address concerns of the stakeholders and to clarify the queries relating to the provisions of the Scheme, the Rules have been amended from time to time and six set of circulars (FAQs) have been issued. The following major issues addressed through Rules and FAQs are as under:

n++ The information in respect of a valid declaration is confidential and shall neither be shared with any law enforcement agency nor shall be enquired into by the Income-tax Department.

n++ The assets declared under the Scheme are to be valued at cost of acquisition or at fair market price as on 1 June 2016 as determined by the registered valuer, whichever is higher. However, an option for valuation of registered immovable property on the basis of stamp duty value of acquisition adjusted with the Cost Inflation Index has also been provided.

n++ Credit for unclaimed TDS made on declared income shall be allowed.

n++ Neither any capital gains tax nor any TDS shall be levied on transfer of declared benami property from benamidar to the declarant without consideration.

n++ The amount of fictitious liabilities recorded in audited balance sheet and not linked to acquisition of an asset can be disclosed under the Scheme as such.

n++ The period of holding of declared registered immovable assets shall be taken on the basis of the actual date of registration.

n++ The valuation report obtained by the declarant from a registered valuer shall not be questioned by the department. However, valuers accountability will remain.

n++ No adverse action shall be taken by FIU or the income-tax department solely on the basis of the information regarding cash deposit made consequent to the declaration under the Scheme.

n++ No enquiry/investigation shall be made in respect of the undisclosed income and assets declared under the Scheme even if the evidence of same is found subsequently during course of search or survey proceedings (circular No.32 dated 01 September 2016).

Further, vide Circular No. 31 dated 30.8.2016 an option has been provided to the declarants to file the declaration under the Scheme electronically under digital signature with the Commissioner of Income-tax, Centralised Processing Centre, Bengaluru [CIT(CPC)]. In case the declarant exercises the said option the declaration shall not be shared with the jurisdictional Principal Commissioner/Commissioner under the Income-tax Act.

In view of the fact that all the major queries and concerns of stakeholders have already been addressed by issue of circulars (FAQs) and also to provide stability and certainty to the Scheme, it is envisaged that no further clarifications on the Scheme shall be issued.

It is reiterated that the Scheme closes on 30.09.2016. The extension of the scheme is out of question.

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Ramco Systems partners with Canadas leading Aerospace & Defence In-Service Support Integrator, L-3 MAS
Sep 06,2016

Ramco Systems announced that it has won an order from L-3 MAS for the Ramco Aviation Suite to support the Canadian CC-150 Polaris fleet. L-3 MAS, Canadas leading aircraft support service provider, will implement Ramco Aviation Suite V5.7 to manage the Maintenance, Repair and Overhaul (MRO) operations of the Royal Canadian Air Force fleet ofCC-150 Polaris aircraft.

Ramcos scalable and mobile-enabled MRO software built for the aviation industry will replace the incumbent legacy maintenance system in use for the CC-150 Polaris fleet with a full suite of aviation software coveringEngineering & Programs, Materials Management, Maintenance, Compliance & Quality, Flight Operations, and MRO Sales, coupled with Offline Maintenance. The suite is expected to streamline L-3 MAS userprocesses and data infrastructure.

Ramcos flexible, modular, and scalable architecture provides the horizontal and vertical scalability that L-3 MAS was looking for, including the need for offline maintenance capability.

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HCL Technologies gets High Court approval for withdrawal of scheme of arrangement
Sep 06,2016

HCL Technologies announced that Honble High Court of Delhi vide its Order dated 31 August 2016 has approved the withdrawal of the Scheme of Arrangement (Scheme) between HCL Technologies (the Company), HCL Comnet (a wholly owned subsidiary of the Company) and their respective Shareholders and Creditors, under Section 391 to 394 of the Companies Act, 1956 for transfer of India System Integration Business of the Company.

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Ramco Systems jumps after winning order
Sep 06,2016

The announcement was made during trading hours today, 6 September 2016.

Meanwhile, the BSE Sensex was up 308.37 points, or 1.08%, to 28,840.48.

On BSE, so far 16,000 shares were traded in the counter, compared with average daily volume of 2,680 shares in the past one quarter. The stock hit a high of Rs 532.65 and a low of Rs 484 so far during the day. The stock hit a 52-week high of Rs 900 on 9 November 2015. The stock hit a 52-week low of Rs 482 on 2 September 2016. The stock had underperformed the market over the past 30 days till 2 September 2016, sliding 11.43% compared with 2.95% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 31.77% as against Sensexs 6.29% rise.

The small-cap aviation software provider has equity capital of Rs 30.08 crore. Face value per share is Rs 10.

Ramco Systems announced that L-3 MAS, Canadas leading aircraft support service provider, will implement Ramco Aviation Suite V5.7 to manage the maintenance, repair and overhaul (MRO) operations of the Royal Canadian Air Force fleet of CC-150 Polaris aircraft.

Ramcos scalable and mobile-enabled MRO software built for the aviation industry will replace the incumbent legacy maintenance system in use for the CC-150 Polaris fleet with a full suite of aviation software covering engineering & programs, materials management, maintenance, compliance & quality, flight operations, and MRO sales, coupled with offline maintenance. The suite is expected to streamline L-3 MAS user processes and data infrastructure.

Ramcos flexible, modular, and scalable architecture provides the horizontal and vertical scalability that L-3 MAS was looking for, including the need for offline maintenance capability.

L-3 MAS, a division of L-3s Aerospace Systems business segment, is Canadas leading In-Service Support (ISS) integrator.

Ramco Systems consolidated net profit dropped 91.35% to Rs 0.90 crore on 11.01% fall in net sales to Rs 109.66 crore in Q1 June 2016 over Q4 March 2016.

Ramco is an enterprise software player offering multi-tenanted cloud and mobile-basedenterprise software in the area of HCM and Global Payroll, ERP and M&E MRO for Aviation.

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Lupin receives tentative approval for Generic Avelox Tablets
Sep 06,2016

Lupin announced that its US subsidiary, Gavis Pharmaceuticals LLC, USA has received tentative approval for its Moxifloxacin Hydrochloride Tablets, 400 mg from the United States Food and Drug Administration to market generic of Bayer Healthcare Pharmaceuticals Incs Avelox Tablets, 400 mg (base).

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Net 4 India reports standalone net loss of Rs 8.40 crore in the June 2016 quarter
Sep 06,2016

Net Loss of Net 4 India reported to Rs 8.40 crore in the quarter ended June 2016 as against net loss of Rs 0.04 crore during the previous quarter ended June 2015. Sales declined 8.48% to Rs 6.69 crore in the quarter ended June 2016 as against Rs 7.31 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales6.697.31 -8 OPM %-157.10-69.49 - PBDT-8.01-3.23 -148 PBT-8.43-4.76 -77 NP-8.40-0.04 -20900

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J D Orgochem reports standalone net loss of Rs 0.29 crore in the June 2016 quarter
Sep 06,2016

Net Loss of J D Orgochem reported to Rs 0.29 crore in the quarter ended June 2016 as against net loss of Rs 0.23 crore during the previous quarter ended June 2015. There were no Sales reported in the quarter ended June 2016 and during the previous quarter ended June 2015.

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Pine Animation standalone net profit declines 25.00% in the June 2016 quarter
Sep 06,2016

Net profit of Pine Animation declined 25.00% to Rs 0.03 crore in the quarter ended June 2016 as against Rs 0.04 crore during the previous quarter ended June 2015. Sales declined 23.08% to Rs 0.10 crore in the quarter ended June 2016 as against Rs 0.13 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales0.100.13 -23 OPM %40.0046.15 - PBDT0.040.06 -33 PBT0.040.06 -33 NP0.030.04 -25

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Net 4 India reports consolidated net loss of Rs 9.98 crore in the June 2016 quarter
Sep 06,2016

Net Loss of Net 4 India reported to Rs 9.98 crore in the quarter ended June 2016 as against net loss of Rs 1.50 crore during the previous quarter ended June 2015. Sales rose 6.60% to Rs 12.12 crore in the quarter ended June 2016 as against Rs 11.37 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales12.1211.37 7 OPM %-73.18-24.63 - PBDT-8.86-3.80 -133 PBT-10.23-6.42 -59 NP-9.98-1.50 -565

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F Mec International Financial Services reports consolidated net loss of Rs 0.03 crore in the June 2016 quarter
Sep 06,2016

Net loss of F Mec International Financial Services reported to Rs 0.03 crore in the quarter ended June 2016. There were no net profit/loss reported during the previous quarter ended June 2015. Sales declined 66.67% to Rs 0.01 crore in the quarter ended June 2016 as against Rs 0.03 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales0.010.03 -67 OPM %-300.000 - PBDT-0.030 0 PBT-0.030 0 NP-0.030 0

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Petronet LNG standalone net profit rises 54.78% in the June 2016 quarter
Sep 06,2016

Net profit of Petronet LNG rose 54.78% to Rs 377.86 crore in the quarter ended June 2016 as against Rs 244.12 crore during the previous quarter ended June 2015. Sales declined 37.89% to Rs 5108.95 crore in the quarter ended June 2016 as against Rs 8225.12 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales5108.958225.12 -38 OPM %12.584.33 - PBDT636.19328.33 94 PBT555.59248.26 124 NP377.86244.12 55

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F Mec International Financial Services reports standalone net loss of Rs 0.03 crore in the June 2016 quarter
Sep 06,2016

Net loss of F Mec International Financial Services reported to Rs 0.03 crore in the quarter ended June 2016. There were no net profit/loss reported during the previous quarter ended June 2015. Sales declined 66.67% to Rs 0.01 crore in the quarter ended June 2016 as against Rs 0.03 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales0.010.03 -67 OPM %-300.000 - PBDT-0.030 0 PBT-0.030 0 NP-0.030 0

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