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Bajaj Hindusthan Sugar to hold AGM
Aug 11,2017

Bajaj Hindusthan Sugar announced that the Annual General Meeting (AGM) of the company will be held on 15 September 2017.

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Essar Securities to hold AGM
Aug 11,2017

Essar Securities announced that the Annual General Meeting (AGM) of the company will be held on 29 September 2017.

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Dredging Corporation of India to hold AGM
Aug 11,2017

Dredging Corporation of India announced that the Annual General Meeting (AGM) of the company will be held on 31 August 2017.

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Bosch edges lower after weak Q1 outcome
Aug 11,2017

The result was announced during market hours today, 11 August 2017.

Meanwhile, the S&P BSE Sensex was down 372.40 points or 1.18% at 31,158.93.

On the BSE, 1,454 shares were traded on the counter so far as against the average daily volumes of 2,419 shares in the past one quarter. The stock had hit a high of Rs 23,456.35 and a low of Rs 22,291.35 so far during the day. The stock had hit a 52-week high of Rs 25,649.95 on 10 August 2016 and a 52-week low of Rs 18,005 on 22 November 2016.

The stock had underperformed the market over the past one month till 10 August 2017, sliding 1.04% compared with the Sensexs 0.58% fall. The stock had also underperformed the market over the past one quarter, gaining 1.76% as against the Sensexs 4.24% rise. The scrip had also underperformed the market over the past one year, sliding 5.59% as against the Sensexs 13.52% rise.

The large-cap company has equity capital of Rs 30.52 crore. Face value per share is Rs 10.

In India, Bosch is a leading supplier of technology and services in the areas of mobility solutions, industrial technology, consumer goods, and energy and building technology. Bosch is the flagship company of the Bosch Group in India.

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Sinner Energy India announces board meeting date
Aug 11,2017

Sinner Energy India will hold a meeting of the Board of Directors of the Company on 17 August 2017.

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Real economy grew by 7.1 per cent in 2016-17 compared with 8 percent the previous year, higher than range predicted in Economic Survey Vol.I
Aug 11,2017

Economic Survey 2016-17 Volume 2 laid in the Parliament, notices a rekindled optimism on structural reforms in Indian economy. Various factors such as launch of the GST; Positive impacts of demonetization; decision in principle to privatize Air India; further rationalization of energy subsidies and Actions to address the Twin Balance Sheet (TBS) challenge contribute to this optimism. The document also adds that a growing confidence that macro-economic stability has become entrenched is evident because of a series of government and RBI actions and because of structural changes in the oil market have reduced the risk of sustained price increases.

However the Survey cautions that anxiety reigns because a series of deflationary impulses are weighing on an economy, yet to gather its full momentum and still away from its potential. These include: stressed farm revenues, as non-cereal food prices have declined; farm loan waivers and the fiscal tightening they will entail; and declining profitability in the power and telecommunication sectors, further exacerbating the TBS problem.

Examining if India is undergoing a structural shift in the inflationary process toward low inflation, the Survey notes that the oil market is very different today than a few years ago in a way that imparts a downward bias to oil prices, or at least has capped the upside risks to oil prices. Also Farm loan waivers could reduce aggregate demand by as much as 0.7 percent of GDP, imparting a significant deflationary shock to an economy. Spurt in New Tax Payers and Reported Income After Demonetization; 5.4 lakh New Tax Payers Post-Demonetization. Demonetizations impact on the informal economy increased demand for social insurance, particularly in less developed states. MGNREGS and its implementation by the Government have met the programmes stated role of being a social safety net during times of need. It also adds that sustaining current growth trajectory will require action on more normal drivers of growth such as investment and exports and cleaning up of balance sheets to facilitate credit growth. The ratio of stressed companies in the power sector (defined as the share of debt owed by companies with an interest coverage (IC) ratio of less than 1) has been steadily rising this year, reaching 70 percent, with an associated vulnerable debt of over Rs. 3.6 lakh crore. The telecommunications sector has experienced its own version of the n++renewables shockn++ in the form of a new entrant that has dramatically reduced prices for, and increased access to, data, thereby benefittingn++at least in the short runn++ consumers; after launching of services by the new entrant in September 2016, the average revenue per user (ARPU) for the industry on aggregate has come down by 22 percent vis-n++-vis the long term (December 2009-June 2016) ARPU, and by about 32 percent since September 2016.

As regards Outlook for Growth 2017-18, Survey (Volume I) had forecast a range for real GDP growth of 6.75 percent to 7.5 percent for FY 2018. For Outlook for Prices & Inflation 2017-18, the Survey notes the outlook for inflation in the near-term will be determined by a number of proximate factors, including:

n++ The outlook for capital flows and exchange rate which in turn will be influenced by the outlook and policy in advanced economies, especially the US;

n++ the recent nominal exchange rate appreciation;

n++ the monsoon;

n++ the introduction of the GST;

n++ the 7th Pay Commission awards;

n++ likely farm loan waivers; and

n++ the output gap

The document says that the fact that current inflation is running well below the 4 percent target, suggests that inflation by March 2018 is likely to be below the RBIs medium term target of 4 percent.

As regards Review of Economic Developments 2016-17, the Survey notes that:

. Real economy grew by 7.1 per cent in 2016-17 compared with 8 percent the previous year. This performance was higher than the range predicted in the Economic Survey (Volume I) in February.

. This growth suggested that the economy was relatively resilient to the large liquidity shock of demonetization which reduced cash in circulation by 22.6 percent in the second half of 2016-17. The apparent resilience was even more marked in nominal growth magnitudes because both nominal GVA and GDP growth accelerated by over 1 percentage point in 2016-17 compared with 2015-16.

. Annual inflation averaged 5.9 per cent in 2014-15 and has since declined to 4.5 per cent in FY 2017. More dramatic have been developments during 2016-17- inflation declined sharply from 6.1 percent in July 2016 to 1.5 percent in June 2017.

. The sharp dip in WPI inflation in late FY 2015 and throughout FY 2016 owed to the deceleration in global commodities prices, especially crude oil prices. With global commodity prices recovering and the base effect (low inflation in the previous year) giving an upward push, wholesale inflation perked up during FY 2017

. With the green shoots slowly becoming visible in merchandise trade, and robust capital flows, the external position appears robust, reflected inter alia in rising reserves and a strengthening exchange rate.

. The current account deficit narrowed in 2016-17 to 0.7 percent of GDP, down from 1.1 percent of GDP the previous year, led by the sharp contraction in trade deficit which more than outweighed the decline in net invisibles

. Export growth turned positive after a gap of two years and imports contracted marginally, so that Indias trade deficit narrowed to 5.0 per cent of GDP (US$ billion) in FY 2017 as compared to 6.2 per cent (US$ 130.1 billion) in the previous year.

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SBI slides after weak Q1 results
Aug 11,2017

The result was announced during market hour today, 11 August 2017.

Meanwhile, the S&P BSE Sensex was down 337.31 points, or 1.07% to 31,194.02.

On the BSE, 31.43 lakh shares were traded in the counter so far, compared with average daily volumes of 12.73 lakh shares in the past one quarter. The stock had hit a high of Rs 302.80 and a low of Rs 279 so far during the day.

The stock hit a 52-week high of Rs 315 on 19 May 2017. The stock hit a 52-week low of Rs 224.40 on 12 August 2016.

The stock had outperformed the market over the past one month till 10 August 2017, rising 3.18% compared with 0.86% decline in the Sensex. The scrip had underperformed the market in past one quarter, falling 0.20% as against Sensexs 4.45% rise. The scrip had outperformed the market in past one year, rising 30.67% as against Sensexs 13.18% rise.

The large-cap state run bank has equity capital of Rs 863.21 crore. Face value per share is Re 1.

The banks gross non-performing assets (NPAs) stood at Rs 188068.49 crore as on 30 June 2017 as against Rs 112342.99 crore as on 31 March 2017 and Rs 101541.18 crore as on 30 June 2016.

The ratio of gross NPAs to gross advances stood at 9.97% as on 30 June 2017 as against 6.90% as on 31 March 2017 and 6.94% as on 30 June 2016.

The ratio of net NPAs to net advances stood at 5.97% as on 30 June 2017 as against 3.71% as on 31 March 2017 and 4.05% as on 30 June 2016.

The banks provisions and contingencies rose 20.46% to Rs 8929.48 crore in Q1 June 2017 over Q1 June 2016. Of this, provisions for NPAs rose 91.26% to Rs 12125.26 crore in Q1 June 2017 over Q1 June 2016.

Provision coverage ratio of the bank was at 60.79% as on 30 June 2017.

The first quarter results are not comparable with year ago period due to merger of its subsidiaries with self, SBI said in its exchange filing.

Government of India holds 57.07% stake in State Bank of India (as on 30 June 2017).

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Bank of Maharashtra allots 8.88 crore equity shares to GoI
Aug 11,2017

Bank of Maharashtra announced that the Board of Directors of the Bank at its meeting held on 11 August 2017 has allotted 8,88,88,888 equity shares of Rs 10 each for cash at issue price of Rs 33.75 per share to Government of India on preferential basis. With this allotment, the GoIs shareholding in the Bank has increased from 81.61% to 82.91%.

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MEP Infrastructure Developers receives LoA from NHAI
Aug 11,2017

MEP Infrastructure Developers has received the Letter of Acceptance (LOA) dated 10 August 2017 from National Highways Authority of India (NHAI) informing that MEP has been appointed as the Contractor for the Project of Collection of user fee through User Fee Collecting Agency at Paduna Fee Plaza at Km. 311.100 for the section Km. 278.000 to Km. 348.000 (Udaipur-Kherwada) of NH No. 8 in the State of Rajasthan.

Key highlights of the Project are as under:
(i)User Fee Collection rights at Paduna Fee Plaza.
(ii) Terms of the Contract Agreement:
a. Period of the Contract is 3 (Three) Months.
b.The operations will commence on August 17,2017,after complying the statutory formalities viz.submission of performance security, signing of contract as per the LOA.
(iii)MEP has to remit on a daily basis Rs. 29,70,000/- (Rupees Twenty Nine Lakhs Seventy Thousand Only) to NHAI for a period of 3(Three) Months towards user fee collection for the said Project.

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Central Bank of India gets downgrade in credit ratings
Aug 11,2017

Central Bank of India announced that CARE has downgraded the ratings on Upper Tier II and Lower Tier II Bonds of the Bank as under -

Upper Tier II - CARE A- ; Negative Outlook (Revised from CARE A; Negative Outlook)

Lower Tier II - CARE ; Negative (Revised from A+; Negative Outlook)

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Arfin India announces resignation of company secretary
Aug 11,2017

Arfin India announced the resignation of Purvesh Pandit as Company Secretary with effect from 10 August 2017.

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Cipla gains after good Q1 results
Aug 11,2017

The result was announced during market hours today, 11 August 2017.

Meanwhile, the S&P BSE Sensex was down 304.47 points or 0.97% at 31,226.86.

On the BSE, 1.97 lakh shares were traded on the counter so far as against the average daily volumes of 1.55 lakh shares in the past one quarter. The stock had hit a high of Rs 563.15 and a low of Rs 526.30 so far during the day. The stock had hit a 52-week high of Rs 621.90 on 6 February 2017 and a 52-week low of Rs 479 on 26 May 2017.

The stock had outperformed the market over the past one month till 10 August 2017, sliding 0.1% compared with the Sensexs 0.58% fall. The stock had, however, underperformed the market over the past one quarter, sliding 1.94% as against the Sensexs 4.24% rise. The scrip had also underperformed the market over the past one year, advancing 5.13% as against the Sensexs 13.52% rise.

The large-cap company has equity capital of Rs 160.94 crore. Face value per share is Rs 2.

Cipla is a global pharmaceutical company.

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India, is emerging as a knowledge based economy, poised for double digit growth
Aug 11,2017

Agriculture and Food Management

Reforms: Managing and reducing the various risks in agriculture activities can make the sector resilient, increase profitability and can ensure stable income flows to the farmers. The following reforms are suggested for increasing productivity in agriculture and allied sector:

n++ To address the price risks in agriculture and allied sectors, marketing infrastructure along the entire value chain needs to be built and strengthened.

n++ To address production risks, the share of irrigated area should be expanded by increasing the coverage of water saving irrigation systems like micro irrigation systems.

n++ To increase productivity of crops, standards should be set and enforced for better quality, pest and disease resistant seeds.

n++ Trade and domestic policy changes should be announced well before sowing and should stay till arrivals and procurement is over.

n++ To enhance womens involvement in the dairy projects, funds should be earmarked through appropriate mechanisms.

n++ Providing timely and affordable formal and institutional credit to the small and marginal farmers is the key to inclusive growth.

n++ Regime based on timely interventions needs to be adopted.

Industry and Infrastructure

n++ Railways should go for more non-fare sources along with station redevelopment and commercially exploiting vacant buildings at the station, monetizing land along tracks by leasing out to promote horticulture and tree plantation, and through advertisement and parcel earnings.

n++ During the last few years the non-major ports are gaining more share of cargo handling compared to major ports. It is required to develop non-major port and also enhance their efficiency and operational capacity.

n++ Reforms such as privatization/ disinvestment of Air India, creation of aviation hubs and reconsidering the 0/20 rule are some suggestions to improve Indian airlines share in the international market.

Social Infrastructure, Employment and Human Development

n++ India, is emerging as a knowledge based economy, poised for double digit growth, and needs to strengthen social infrastructure by investing in health and education.

n++ The education policies need to be designed with focus on learning outcomes and remedial education with interventions which work and maximize the efficiency of expenditure. There is need for bio-metric attendance of school staff, independent setting of examination papers, neutral examination and for DBT for schools. There is need to adopt outcome measures for the education and skilling activities to ensure improvement in delivery of schemes/ programmes.

n++ In order to make the labour market system dynamic and efficient, the government has taken several reforms/initiatives, both legislative as well as technological such as notification of Ease of Compliance to maintain Registers under various Laws Rules, 2017 and introduction of e-Biz Portal. These registers/forms can also be maintained in a digitized form.

n++ Government has been imparting short term skill training through Pradhan Mantri Kaushal Vikas Yojana (PMKVY) and long term training through Industrial Training Institutes (ITIs). Model Skill Centers are being set up in every district of the country under Pradhan Mantri Kaushal Kendra Scheme. The emphasis is on enhancing the quality of skill training programmes and making a competency-based framework with giving individuals an option to progress through education, training, prior learning and experiences.

n++ There has to be concerted efforts by the Central and State governments to reform the health sector, by addressing quality issues, standardising rates for diagnostic tests, generating awareness about alternative health systems and introduction of punitive measures like fines on hospitals and private health providers for false claims through surgery, medicines etc. For more equitable access to health services, government should provide health benefits and risk cover to poorer sections of the society.

n++ Towards addressing the challenges in health sector, the Government has formulated the National Health Policy, 2017, which aims at attaining the highest level of good health and well-being, through a preventive and promotive health care orientation in all developmental policies, and universal access to good quality health care services, without anyone having to face financial hardship as a consequence.

n++ Addressing the social security of large number of vulnerable workers in the informal economy should be prioritized by the Government along with ensuring the safety and security of women to raise their participation in economic activities.

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Asian Granito India fixes record date for dividend
Aug 11,2017

Asian Granito India has fixed 08 September 2017 as the Record Date for the purpose of Payment of Dividend.

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Kilburn Engineering fixes record date for dividend
Aug 11,2017

Kilburn Engineering has fixed 18 September 2017 as the Record Date for the purpose of Payment of Dividend.

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