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Board of CCL International accepts resignation of director
Jan 13,2017

CCL International announced Mukesh Kumar Sharma, Non Executive Director of the Company, has resigned from the Board of Directors of the Company with effect from 28 December 2016.

Further, the Board of Directors in their board meeting held on 12 January 2017 has accepted their resignation with effect from 28 December 2016.

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Precious metals end on mixed note
Jan 13,2017

It was mixed finish for bullion metals on Thursday, 12 January 2017 at Comex. Gold prices on Thursday hit a new seven-week high, as the dollar fell on disappointment that President-elect Donald Trump didnt provide details on his economic plans at a closely watched news conference. But prices for the yellow metal finished just short of the $1,200-an-ounce level. But silver ended marginally lower.

Gold for February delivery rose $3.20, or 0.3%, to settle at $1,199.80 an ounce, paring earlier gains that lifted it to a high of $1,207.20. The metal has gained in seven out of the last eight sessions.

March silver fell less than half a cent to $16.825 an ounce.

On Thursday, U.S. stocks traded broadly lower, bonds rose and the dollar fell - all of which are supporting a continued rebound in gold.

The ICE Dollar Index slid 0.6% to 101.22, trading around its lowest level in a month.

The sharp dollar drop came after Trump on Wednesday, in his first full-scale press conference since July, offered few details on his administrations plans for economic stimulus, trade policy and tax reforms, but instead focused on railing against news outlets. Investors had hoped for more clarity on his policies to keep the dollar and stock rally going.

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Zydus settles patent litigation for Qudexyn++ XR (topiramate) extended-release capsules
Jan 13,2017

Cadila Healthcare and its subsidiary Zydus Pharmaceuticals (USA) Inc. announced that they have finalised an agreement with Upsher-Smith Laboratories Inc. to settle all outstanding patent litigations related to Qudexyn++ XR (topiramate) extended-release capsules.

Under the terms of the agreement, Upsher-Smith grants Zydus a license to market Zydus generic version of Qudexyn++ XR beginning on 19 March 2020 or earlier under certain circumstances. Other terms of the settlement were not disclosed.

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Lupin advances after launching generic pain relief tablets in US
Jan 13,2017

The announcement was made during market hours today, 13 January 2017.

Meanwhile, the S&P BSE Sensex was down 25.42 points or 0.11% at 27,217.69.

On the BSE, 42,287 shares were traded on the counter so far as against the average daily volumes of 82,696 shares in the past one quarter. The stock had hit a high of Rs 1,516.40 and a low of Rs 1,492.75 so far during the day. The stock had hit a 52-week high of Rs 1,911.55 on 9 February 2016 and a 52-week low of Rs 1,294.05 on 29 March 2016.

The stock had underperformed the market over the past 30 days till 12 January 2017, falling 0.89% compared with 2.76% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, falling 1.77% as against Sensexs 2.97% decline.

The large-cap company has equity capital of Rs 90.29 crore. Face value per share is Rs 2.

Lupin announced that it has launched its Morphine Sulfate ER Tablets 15 mg, 30 mg, 60 mg, 100 mg and 200 mg in the US after having received an approval from the United States Food and Drug Administration (USFDA) earlier to market a generic version of Purdue Pharmas MS Contin ER Tablets 15 mg, 30 mg, 60 mg, 100 mg and 200 mg.

Lupins Morphine Sulfate ER Tablets 15 mg, 30 mg, 60 mg, 100 mg and 200 mg are the AB rated generic equivalent of Purdue Pharmas MS Contin ER Tablets 15 mg, 30 mg, 60 mg, 100 mg and 200 mg.

Morphine Sulfate ER Tablets are indicated for the management of pain severe enough to require daily, around-the-clock, long-term opioid treatment and for which alternative treatment options are inadequate.

MS Contin ER Tablets had annual US sales of $282.9 million as per the IMS MAT September 2016.

Lupins consolidated net profit rose 57.8% to Rs 662.19 crore on 31.9% rise in net sales to Rs 4211.18 crore in Q2 September 2016 over Q2 September 2015.

Lupin is an innovation led transnational pharmaceutical company developing and delivering 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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India needs 80 lakhs Wi-Fi hotspots: ASSOCHAM-Deloitte study
Jan 13,2017

India needs over 80 lakhs hotspots as against the availability of about 31,000 hotspots with a view to reach the global level of one Wi-Fi hotspot penetration for every 150 people, according to ASSOCHAM-Deloitte joint study.

There are currently over 31,000 public Wi-Fi hotspots installed in India. However, for India to match the current global average of one public Wi-Fi hotspot per 150 people, an additional 80 lakhs hotspots need to be deployed, noted the study titled Digital India: Unlocking the Trillion Dollar opportunity, jointly conducted by ASSOCHAM and research firm Deloitte.

The biggest challenge faced by the Digital India programme is the slow/delayed infrastructure development. Spectrum availability in Indian metros is about a tenth of the same in cities in developed countries. This has put a major roadblock in providing high speed data services.

For Digital India to have a large scale impact on citizens across the nation, the digital divide needs to be addressed through last mile connectivity in remote rural areas. Currently, over 55,000 villages remain deprived of mobile connectivity. This is largely due to the fact that providing mobile connectivity in such locations is not commercially viable for service providers, adds the joint study.

n++For digital technology to be accessible to every citizen significant efforts are needed to customize apps and services to cater to local needs. Finding vendors who can provide such applications has become a challengen++.

Policy framework for Digital India: Challenges in policy, such as taxation, right of way, restrictive regulations etc. are major roadblocks in realizing the vision of Digital India.

Some of the common policy hurdles includes lack of clarity in FDI policies, for instance, have impacted the growth of e-commerce. Transport services like Uber have had frequent run-ins with the local government due to legacy policy frameworks which have not become attuned to the changing business landscape.

Implementation of the Digital India program has been hampered by contracting challenges such as several projects assigned to PSUs are delayed given challenges related to skills, experience and technical capabilities. Several RFPs issued by the government are not picked up by competent private sector organizations since they are not commercially feasible.

The reports suggest that, as recently as 2014, nearly 70% of Indian consumers indicated that lack of awareness was the main reason for not using internet services. Non-availability of digital services in local languages is also a major concern, noted the study.

With the proliferation of cloud-based services like DigiLocker, data security has emerged as a major challenge. The recent data breach in August 2016, in which debit card data for more than 3.2 million subscribers was stolen highlights the importance of implementing foolproof security systems, adds the study.

Development of digital infrastructure is a critical component of Digital India. To further enable development of digital infrastructure, the following measures should be considered as uniform policies for deploying telecom and optic fibre infrastructure.

A uniform RoW policy across all states with a reasonable cost structure is required along with a single window mechanism for granting RoW permissions. PPP models need to be explored for sustainable development of digital infrastructure, as has been the case for civic infrastructure projects like roads and metro project. In addition, the government should make efforts to make additional spectrum available to telecom service providers for deployment of high speed data networks.

Encourage collaboration with the private sector; Effective collaboration with the private sector is critical to the development of the digital infrastructure. Innovative engagement models that ensure commercial viability needs to developed jointly through consultation with industry bodies. This will encourage private sector participation and ensure a better response to infrastructure RFPs. In addition, startups need to be incentivized for the development of the last mile infrastructure and localized services and applications.

Existing government infrastructure assets (e.g., post offices, government buildings, CSCs) should be further leveraged for provision of digital services. In rural and remote areas, private sector players should be incentivized to provide last mile connectivity. USOF can be effectively used to incentivise and create a viable business model. The deployment of funds so far has been erratic and not been used to effectively to fund the cost of infrastructure creation in rural areas. Currently, the fund has over INR 451 billion in reserves which can be used to finance rural digital infrastructure growth in India through direct investment or subsidies.

Satellite communication solutions could be used to speed up broadband access in rural and remote areas. For instance, banks can use VSAT technology to connect remote ATMs, remote branches that need instant access to customer data. It could be used as a last mile connectivity solution in rural areas which lack telecom networks. Another example could be of the navigational system NAVIC (Navigation with Indian Constellation), which can have applications in terrestrial, aerial and marine navigation, disaster management, vehicle tracking and fleet management, integration with mobile phones, precise timing, mapping and geodetic data capture, terrestrial navigation aid for hikers and travellers and visual/ voice navigation for drivers.

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Mahindra Lifespace Developers gains on plan to set up new industrial park
Jan 13,2017

The announcement was made after market hours yesterday, 12 January 2017.

Meanwhile, the S&P BSE Sensex was down 56.62 points or 0.21% at 27,190.54.

On the BSE, 2,455 shares were traded on the counter so far as against the average daily volumes of 10,404 shares in the past one quarter. The stock had hit a high of Rs 371.45 and a low of Rs 360.20 so far during the day.

The stock had hit a 52-week high of Rs 497 on 28 January 2016 and a 52-week low of Rs 343.30 on 21 November 2016.

The small-cap company has equity capital of Rs 41.04 crore. Face value per share is Rs 10.

Mahindra Lifespace Developers (MLDL) signed a memorandum of understanding (MoU) with the Government of Gujarat, through a 100% subsidiary, to establish a 350-acre (approximately), multi-product industrial park near Ahmedabad. The proposed new industrial park marks Mahindra Lifespaces foray into Gujarat and is being planned to cater to non-polluting industries. The industrial park is expected to create direct and indirect employment for about 12,000 persons, when fully operational. The proposed multi-product industrial park will be developed under the aegis of Gujarat industrial Policy 2015.

Mahindra Lifespace Developers net profit rose 426.51% to Rs 32.17 crore on 9.67% decline in net sales to Rs 125.48 crore in Q2 September 2016 over Q2 September 2015.

Mahindra Lifespace Developers is the real estate development business of the Mahindra Group.

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REC edges higher after incorporating three project specific SPVs
Jan 13,2017

The announcement was made after market hours yesterday, 12 January 2017.

Meanwhile, the BSE Sensex was down 32.72 points, or 0.12%, to 27,214.44.

On the BSE, 2.2 lakh shares were traded in the counter so far, compared with average daily volume of 4.33 lakh shares in the past one quarter. The stock had hit a high of Rs 139.10 and a low of Rs 136.45 so far during the day. The stock had hit a 52-week high of Rs 140.95 on 24 October 2016. The stock had hit a 52-week low of Rs 76.25 on 24 February 2016.

The stock had outperformed the market over the past 30 days till 12 January 2017, rising 3.59% compared with 2.76% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 4.14% as against Sensexs 2.97% decline.

The large-cap company has equity capital of Rs 1974.92 crore. Face value per share is Rs 10.

Rural Electrification Corporation (REC) announced the incorporation of three project specific special purpose vehicles (SPVs) as wholly owned subsidiary companies of REC Transmission Projects Company, which are also wholly owned subsidiary companies of REC.

The names of the SPVs incorporated are WR-NR Power Transmission, ERSS XXI and Transmission Ghatampur Transmission.

Rural Electrification Corporations net profit rose 8.2% to Rs 1751.27 crore on 3.1% rise in total income to Rs 6108.55 crore in Q2 September 2016 over Q2 September 2015.

Rural Electrification Corporation (REC), a Navratna Central Public Sector Enterprise under Ministry of Power, provides financial assistance to state electricity boards, state government departments and rural electric co-operatives for rural electrification projects.

The government of India holds 60.64% stake in the company, as per the shareholding pattern as at 30 September 2016.

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Board of Enterprise International to consider 9M results
Jan 13,2017

Enterprise International announced that the meeting of the Board of Directors of the Company will be held on 30 January 2017, to approve and take on record, un-audited Financial Results (Provisional) for the Nine months ended on 31 December 2016.

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Lupin allots 50081 equity shares
Jan 13,2017

Lupin announced that the Allotment Committee of Directors at its meeting held on 13 January 2017 has allotted 50081 fully paid up equity shares of Rs. 2/- each. These shares have been allotted upon exercising of options granted to the employees under Stock option plans of the Company.

In view of the above, the issued and paid up capital of the Company has been increased to Rs. 90,29,71,582 consisting 45,14,85,791 equity shares of Rs. 2/- each.

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Hero MotoCorp enters Argentina with the global launch of New Glamour
Jan 13,2017

Hero MotoCorp unveiled the 125 cc motorcycle, New Glamour - its first ever Global Launch of a new product outside of India. This global launch of the New Glamour coincides with the commencement of Heros operations in Argentina, its 35th market in a rapidly growing global footprint. Hero MotoCorp has appointed Marwen SA as its distributor in Argentina. For the local market in Argentina, the Company has rolled out four products from its wide portfolio in the first phase - Hunk, Hunk Sports, Ignitor and the scooter - Dash.

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Board of Naina Semiconductor to consider December quarter results
Jan 13,2017

Naina Semiconductor announced that the meeting of Board of Director of the company will be held on 31 January 2017, to adopt the quarterly unaudited financial results ended 31 December 2016.

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Shares of Capital Trust get listed on NSE
Jan 13,2017

Capital Trust announced that 16361415 equity share of the Company Capital Trust have been listed as National Stock Exchange and the trading will start from 16 January 2017.

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Karur Vysya Bank to announce December quarter results
Jan 13,2017

Karur Vysya Bank announced that the Board of Directors of the Bank will meet on 25 January 2017, inter alia, to consider the Un-audited Financial Results of the Bank for the quarter ended 31 December 2016.

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Force Motors drops after issuing commercial papers
Jan 13,2017

The announcement was made after market hours yesterday, 12 January 2017.

Meanwhile, the S&P BSE Sensex was down 47.74 points or 0.18% at 27,199.42

On the BSE, 26,000 shares were traded on the counter so far as against the average daily volumes of 1.48 lakh shares in the past one quarter. The stock had hit a high of Rs 4,444 and a low of Rs 4,360 so far during the day.

The stock had hit a record high of Rs 4,839 on 27 October 2016. The stock had hit a 52-week low of Rs 2,180 on 29 February 2016. The stock had outperformed the market over the past 30 days till 12 January 2017, rising 13.26% compared with Sensexs 2.42% rise. The scrip had also outperformed the market in past one quarter, rising 1.52% as against Sensexs 1.54% fall.

The mid-cap company has equity capital of Rs 13.18 crore. Face value per share is Rs 10.

Force Motors net profit rose 17.72% to Rs 50.28 crore on 12.2% growth in net sales to Rs 841.89 crore in Q2 September 2016 over Q2 September 2015.

Force Motors is a fully, vertically integrated automobile company, with expertise in design, development and manufacture of the full spectrum of automotive components, aggregates and vehicles.

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Deep Industries gets revision in credit ratings for bank facilities
Jan 13,2017

Deep Industries has received revision in credit ratings from CARE Ratings as under -

Long term bank facility - CARE A (Revised from CARE A-)
Short term bank facilities - CARE A1 (Revised from CARE A2+)
Long term/ short term facilities - CARE A/ CARE A1 (Revised from CARE A-/ CARE A2+)

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