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M&M nudges higher after announcing biz restructuring
Dec 28,2016

The announcement was made during trading session today, 28 December 2016.

Meanwhile, the S&P BSE Sensex was up 44.81 points or 0.17% at 26,258.25.

On the BSE, 22,000 shares were traded on the counter so far as against the average daily volumes of 81,382 shares in the past one quarter. The stock had hit a high of Rs 1,184.40 and a low of Rs 1,170 so far during the day.

The stock had hit a record high of Rs 1,508.80 on 9 August 2016 and a 52-week low of Rs 1,092 on 12 February 2016. It had underperformed the market over the past one month till 27 December 2016, sliding 0.72% compared with the Sensexs 0.39% fall. The scrip had also underperformed the market in the past one quarter, declining 14.91% as against the Sensexs 7.12% fall.

The large-cap company has equity capital of Rs 310.55 crore. Face value per share is Rs 5.

Mahindra & Mahindra (M&M) formed a new sector, the Agriculture Sector. This is in addition to its two existing sectors, namely- Automotive and Farm Equipment Sectors.

The company has also announced the appointment of Rajan Wadhera as the incoming President of the Automotive Sector. Wadhera will take over from Pravin Shah, the current President & Chief Executive (Automotive) M&M, as he retires on 31 March 2017.

Subsequent to the restructuring announcement, the respective business heads have also been re- designated. Accordingly, Rajesh Jejurikar will now be the President of the Farm Equipment Sector and Ashok Sharma, the President, of the Agriculture Sector. All three sector Presidents in their respective capacities will report to Pawan Goenka. All changes will be effective 1 April 2017.

Mahindra Trucks and Buses and the construction equipment businesses will now be an integral part of the Automotive sector and will report to Rajan Wadhera.

M&Ms net profit rose 27.1% to Rs 1163.27 crore on 13.8% growth in net sales to Rs 10411.67 crore in Q2 September 2016 over Q2 September 2015.

M&M enjoys a leadership position in tractors and utility vehicles in India.

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Akzo Nobel India gains after opening specialty coatings facility in Noida
Dec 28,2016

The announcement was made after market hours yesterday, 27 December 2016.

Meanwhile, the BSE Sensex was up 157.94 points, or 0.60%, to 26,371.38.

On the BSE, so far 806 shares were traded in the counter, compared with average daily volumes of 1,239 shares in the past one quarter. The stock had hit a high of Rs 1,399 and a low of Rs 1,367.50 so far during the day.

The stock hit a record high of Rs 1,740 on 31 August 2016. The stock hit a 52-week low of Rs 1,204 on 12 February 2016. The stock had underperformed the market over the past 30 days till 27 December 2016, falling 3.52% compared with the 0.52% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 18.53% as against Sensexs 7.35% decline.

The mid-cap company has equity capital of Rs 46.66 crore. Face value per share is Rs 10.

Akzo Nobel India announced that it has inaugurated a first-of-its-kind specialty coatings production facility and colour laboratory in Noida, Uttar Pradesh, to service its customers in the consumer electronics, automobile and cosmetics industry.

With an investment of Euro 0.4 million or Rs 3 crore, the new site will manufacture 600 kilolitre of coatings annually, thus catering to the localisation drive undertake by many large companies. Already commissioned, the facility is in its first phase, the second phase is likely to be completed by the end of 2016, with scope for further expansion.

Net profit of Akzo Nobel India rose 18.5% to Rs 41.59 crore on 7.5% rise in net sales to Rs 670.69 crore in Q2 September 2016 over Q2 September 2015.

AkzoNobel is a leading global paints and coatings company and a major producer of specially chemicals.

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RPP Infra Projects surges after winning orders
Dec 28,2016

The announcement was made during trading hours today, 28 December 2016.

Meanwhile, the BSE Sensex was up 195.89 points, or 0.75%, to 26,409.33.

On the BSE, so far 6.20 lakh shares were traded in the counter, compared with average daily volumes of 46,048 shares in the past one quarter. The stock had hit a high of Rs 236 and a low of Rs 203 so far during the day.

The stock hit a record high of Rs 236 on 28 December 2016. The stock hit a 52-week low of Rs 102.10 on 20 January 2016. The stock had outperformed the market over the past 30 days till 27 December 2016, rising 7.08% compared with the 0.52% fall in the Sensex. The scrip had also outperformed the market in past one quarter, falling 4.24% as against Sensexs 7.35% decline.

The small-cap company has equity capital of Rs 22.60 crore. Face value per share is Rs 10.

RPP Infra Projects has received an order worth Rs 24.20 crore from Kamarajar Port for construction of container pre-stacking yard and other ancillary facilities. Further, the company received an order worth Rs 30 crore from Annai Infra Developers, Erode for Chennai Corporation to construct the integrated storm water drains in Virugambakkam and Arumbakkam water shed of Cooum Basin in expanded area of Chennai Corporation.

On a consolidated basis, net profit of RPP Infra Projects rose 5.74% to Rs 6.45 crore on 6.72% decline in net sales to Rs 85.74 crore in Q2 September 2016 over Q2 September 2015.

RPP Infra Projects is engaged in the business of infrastructure development such as highways, roads, bridges, civil construction works, irrigation and water supply projects and power plant.

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Network18 Media & Investments leads gainers in A group
Dec 28,2016

Network18 Media & Investments jumped 9.61% to Rs 33.65 at 13:39 IST. The stock topped the gainers in the BSEs A group. On the BSE, 11.96 lakh shares were traded on the counter so far as against the average daily volumes of 1.77 lakh shares in the past two weeks.

Bharat Financial Inclusion surged 9.47% at Rs 568.10 after the company said Morgan Stanley Asia (Singapore), Morgan Stanley Mauritius Company increased stake in the company by 1.09% to 7.86% on Friday, 23 December 2016. The stock was second biggest gainer in A group. On the BSE, 12.84 lakh shares were traded on the counter so far as against the average daily volumes of 8.11 lakh shares in the past two weeks.

Mangalore Refinery & Petrochemicals (MRPL) advanced 8.62% to Rs 95.75. The stock was third biggest gainer in A group. On the BSE, 3.59 lakh shares were traded on the counter so far as against the average daily volumes of 1.20 lakh shares in the past two weeks.

Divis Laboratories gained 6.03% at Rs 836.50. The stock was fourth biggest gainer in A group. On the BSE, 5.53 lakh shares were traded on the counter so far as against the average daily volumes of 3.79 lakh shares in the past two weeks.

Mindtree rose 5.64% to Rs 514.50. The stock was fifth biggest gainer in A group. On the BSE, 79,000 shares were traded on the counter so far as against the average daily volumes of 62,000 shares in the past two weeks.

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Cadila Healthcare gains after clarification on media reports
Dec 28,2016

Meanwhile, the S&P BSE Sensex was up 154.26 points or 0.59% at 26,367.70.

On the BSE, 50,000 shares were traded on the counter so far as against the average daily volumes of 57,791 shares in the past one quarter. The stock had hit a high of Rs 358.70 and a low of Rs 343.50 so far during the day.

The stock had hit a 52-week high of Rs 429.45 on 1 November 2016 and a 52-week low of Rs 295.50 on 18 January 2016. It had underperformed the market over the past one month till 27 December 2016, sliding 13.66% compared with the Sensexs 0.39% fall. The scrip had also underperformed the market in the past one quarter, declining 12.01% as against the Sensexs 7.12% fall.

The large-cap company has equity capital of Rs 102.37 crore. Face value per share is Rs 1.

Cadila Healthcare in its clarification issued to the stock exchanges during market hours today, 28 December 2016, said that Zydus Discovery DMCC, a 100% subsidiary of Cadila Healthcare has received an untitled letter and not a warning letter from the United States Food and Drug Administration (USFDA), as being projected in media reports.

The letter is related to a product promotion of a drug which is not marketed in the US and is currently marketed only in India. Cadila Healthcare said it has taken necessary actions to respond to the letter.

Cadila Healthcares consolidated net profit fell 28.9% to Rs 337.60 crore on 3.1% increase in net sales to Rs 2336.30 crore in Q2 September 2016 over Q2 September 2015.

Cadila Healthcare is a global pharmaceutical company that discovers, manufactures and markets a broad range of healthcare therapies.

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Volumes jump at RPP Infra Projects counter
Dec 28,2016

RPP Infra Projects clocked volume of 5.42 lakh shares by 12:30 IST on BSE, a 10.97-times surge over two-week average daily volume of 49,000 shares. The stock rose 17.18% to Rs 230.50.

Godfrey Phillips India notched up volume of 2.22 lakh shares, a 8.60-fold surge over two-week average daily volume of 26,000 shares. The stock rose 6.38% to Rs 1,062.70.

Reliance Defence and Engineering saw volume of 1.27 crore shares, a 8.36-fold surge over two-week average daily volume of 15.30 lakh shares. The stock rose 2.51% to Rs 55.10.

Asahi India Glass clocked volume of 12.19 lakh shares, a 6-fold surge over two-week average daily volume of 2.03 lakh shares. The stock rose 2.54% to Rs 179.50.

Upper Ganges Sugar & Industries saw volume of 1.77 lakh shares, a 3.37-fold rise over two-week average daily volume of 53,000 shares. The stock rose 9.99% to Rs 293.95.

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Cupid surges on mulling fund raising
Dec 28,2016

The announcement was made during market hours today, 28 December 2016.

Meanwhile, the S&P BSE Sensex was up 140.05 points or 0.53% at 26,353.49.

On the BSE, 21,000 shares were traded on the counter so far as against the average daily volumes of 17,939 shares in the past one quarter. The stock had hit a high of Rs 314.30 and a low of Rs 289 so far during the day.

The stock had hit a 52-week high of Rs 453.80 on 30 December 2015 and a 52-week low of Rs 228.50 on 18 February 2016. It had underperformed the market over the past one month till 27 December 2016, sliding 1.31% compared with the Sensexs 0.39% fall. The scrip had, however, outperformed the market in the past one quarter, declining 6.59% as against the Sensexs 7.12% fall.

The small-cap company has equity capital of Rs 11.11 crore. Face value per share is Rs 10.

Cupids net profit rose 30.4% to Rs 5.36 crore on 40.5% growth in net sales to Rs 21.53 crore in Q2 September 2016 over Q2 September 2015.

Cupid is a leading manufacturer of quality male and female condoms.

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Globus Spirits gains after Bihar unit resumes operations
Dec 28,2016

The announcement was made during trading hours today, 28 December 2016.

Meanwhile, the BSE Sensex was up 104.10 points, or 0.40%, to 26,317.54.

On the BSE, so far 17,000 shares were traded in the counter, compared with average daily volumes of 1.15 lakh shares in the past one quarter. The stock had hit a high of Rs 87.40 and a low of Rs 83.40 so far during the day.

The stock hit a 52-week high of Rs 115.90 on 29 September 2016. The stock hit a 52-week low of Rs 50.30 on 29 February 2016. The stock had underperformed the market over the past 30 days till 27 December 2016, falling 13.09% compared with the 0.52% fall in the Sensex. The scrip had underperformed the market in past one quarter, falling 20.39% as against Sensexs 7.35% decline.

The small-cap company has equity capital of Rs 28.80 crore. Face value per share is Rs 10.

Globus Spirits said it resumed its operation and commenced its commercial production (with a production capacity of 80,000 bulk litre per day) on 2 December 2016 after removing all the technical bottlenecks at its unit at Jandoho in Bihar. The operations at the Bihar unit were disrupted since 5 September 2016 owing to flooding at the factory premises caused by heavy rains.

Net profit of Globus Spirits declined 97.62% to Rs 0.03 crore on 0.4% rise in net sales to Rs 161.74 crore in Q2 September 2016 over Q2 September 2015.

Globus Spirits is one of the leading players in the Indian alcoholic beverages industry. It caters to four important segments of the alcohol industry - Indian Made Indian Liquor (IMIL), Indian Made Foreign Liquor (IMFL), IMFL bottling and bulk alcohol.

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Religare Enterprises gains on plan to merge 11 units with itself
Dec 28,2016

The announcement was made after market hours yesterday, 27 December 2016.

Meanwhile, the BSE Sensex was up 84.56 points, or 0.32%, to 26,298.

On the BSE, so far 1,899 shares were traded in the counter, compared with average daily volumes of 4,080 shares in the past one quarter. The stock had hit a high of Rs 258.50 and a low of Rs 254 so far during the day.

The stock hit a 52-week high of Rs 319 on 30 December 2015. The stock hit a 52-week low of Rs 221.05 on 15 November 2016. The stock had underperformed the market over the past 30 days till 27 December 2016, falling 7.15% compared with the 0.52% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, falling 5.69% as against Sensexs 7.35% decline.

The mid-cap company has equity capital of Rs 178.33 crore. Face value per share is Rs 10.

The board of Religare Enterprises (REL) has approved a plan to merge 11 of its subsidiaries with REL. The proposed structure is aimed at streamlining the organization and is designed to allow REL to achieve its objective of following a focused, growth oriented strategy.

The units to be merged are: Religare Securities (excluding its broking business), Religare Commodity Broking, RGAM Investment Advisors, Religare Venture Capital, Religare Arts Investment Management, Religare Capital Finance, RGAM Capital India, Religare Investment Advisors, Religare Support Services, Religare Arts Initiative and Religare Capital Markets (India).

The new structure will reduce operational and administrative costs of maintaining multiple legal entities and focus resources on core businesses. The consolidation will not have an impact on the companys shareholding pattern.

Religare Enterprises reported net loss of Rs 39.54 crore in Q2 September 2016 as against net loss of Rs 13.90 crore in Q2 September 2015. Net sales declined 94.8% to Rs 0.27 crore in Q2 September 2016 over Q2 September 2015.

Religare Enterprises (REL) is the holding company for one of Indias leading diversified financial services groups. REL offers an integrated suite of financial services through its underlying subsidiaries and operating entities, including loans to SMEs, affordable housing finance, health insurance, capital markets and wealth management.

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Pharma stocks move north tracking weakness in rupee
Dec 28,2016

Meanwhile, the S&P BSE Sensex was up 86.37 points or 0.33% at 26,299.81. The S&P BSE Healthcare index was trading 1.19% higher, outperforming the Sensex.

Divis Laboratories (up 2.55%), Cadila Healthcare (up 1.74%), Glenmark Pharmaceuticals (up 1.7%), Ipca Laboratories (up 1.52%), Alkem Laboratories (up 1.39%), Dr Reddys Laboratories (up 1.33%), Wockhardt (up 1.19%), Aurobindo Pharma (up 1.1%), Lupin (up 0.99%), Cipla (up 0.82%), Sun Pharmaceutical Industries (up 0.78%) and Strides Shasun (up 0.24%) edged higher. GlaxoSmithkline Pharmaceuticals (down 0.06%) edged lower.

A weak rupee boosts the value of overseas earnings of pharma firms in local terms. Pharma companies derive substantial revenue from exports.

In the foreign exchange market, the partially convertible rupee was hovering at 68.215, compared with closing of 68.06 during the previous trading session.

The BSE Healthcare index had underperformed the market over the past one month till 27 December 2016, sliding 7.58% compared with the Sensexs 0.39% fall. The index had also underperformed the market in the past one quarter, declining 13.15% as against the Sensexs 7.12% fall.

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IT stocks firm up on weak rupee
Dec 28,2016

Meanwhile, the S&P BSE Sensex was up 93.18 points or 0.36% at 26,306.62.

Wipro (up 2.16%), Tech Mahindra (up 1.44%), HCL Technologies (up 1.23%), Persistent Systems (up 0.99%), Infosys (up 0.58%) edged higher. Oracle Financial Services Software fell 0.91%.

TCS rose 0.78% after the company announced that VersaCoId Logistics Services, Canadas largest end-to-end supply chain solutions company for temperature sensitive products has selected TAP, TCS procure to pay cloud solution, to manage their operating costs with greater efficiency. The announcement was made after market hours yesterday, 27 December 2016.

A weak rupee boosts revenue of IT firms in rupee terms as the sector derives a lions share of revenue from exports.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 68.2250, compared with closing of 68.06 during the previous trading session.

The S&P BSE IT index had outperformed the market over the past one month till 27 December 2016, advancing 1.09% compared with the Sensexs 0.39% fall. The index had also outperformed the market in past one quarter, declining 3.17% as against the Sensexs 7.12% fall.

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Dhanuka Agritech gains as board to approve final terms of share buyback
Dec 28,2016

The announcement was made after market hours yesterday, 27 December 2016.

Meanwhile, the S&P BSE Sensex was up 28.50 points or 0.11% at 26,241.94.

On the BSE, 2,517 shares were traded on the counter so far as against the average daily volumes of 9,593 shares in the past one quarter. The stock had hit a high of Rs 738.65 and a low of Rs 725 so far during the day.

The stock had hit a record high of Rs 777 on 31 August 2016 and a 52-week low of Rs 473 on 20 January 2016. The stock had outperformed the market over the past one month till 27 December 2016, advancing 0.72% compared with the Sensexs 0.39% fall. The scrip had also outperformed the market over the past one quarter advancing 6.8% as against the Sensexs 7.12% fall.

The mid-cap company has equity capital of Rs 10 crore. Face value per share is Rs 2.

Dhanuka Agritech said that the outcome of the postal ballot being conducted, to seek such shareholders approval, will also be announced on 2 January 2017.

Dhanuka Agritechs board at a meeting held on 10 November 2016, had approved the proposal of buyback of shares on a proportionate basis through a tender offer route for an amount not exceeding Rs 80 crore, being 16.69% of the total paid-up equity capital and free reserves of the company as on 31 March 2016, at a maximum price not exceeding Rs 850 per share.

The company intends to buyback not more than 10 lakh shares representing 2% of the total paid up equity share capital of the company.

Dhanuka Agritechs consolidated net profit rose 30.5% to Rs 49.21 crore on 14.4% rise in net sales to Rs 308.97 crore in Q2 September 2016 over Q2 September 2015.

Dhanuka Agritech is engaged in the manufacture of agro-chemicals like herbicides, insecticides, fungicides and miticides.

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Saksoft surges on fund buying
Dec 28,2016

Meanwhile, the S&P BSE Sensex was up 91.68 points or 0.35% at 26,305.12.

On the BSE, 1.13 lakh shares were traded on the counter so far as against the average daily volumes of 11,318 shares in the past one quarter. The stock had hit a high of Rs 315.90 and a low of Rs 287 so far during the day.

The stock had hit a record high of Rs 474.30 on 13 January 2016 and a 52-week low of Rs 152 on 22 November 2016. It had outperformed the market over the past one month till 27 December 2016, advancing 56.24% compared with the Sensexs 0.39% fall. The scrip had also outperformed the market in the past one quarter, surging 24.06% as against the Sensexs 7.12% fall.

The small-cap company has equity capital of Rs 10.43 crore. Face value per share is Rs 10.

Saksofts consolidated net profit fell 1.06% to Rs 4.65 crore on 3.94% decline in net sales to Rs 61.43 crore in Q2 September 2016 over Q1 June 2016.

Saksoft is a provider of information management solutions to successful organizations around the world.

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Electrosteel Steels jumps on report Piramal Enterprises, Renaissance Group vie for stake
Dec 28,2016

Meanwhile, the BSE Sensex was up 88.39 points, or 0.34%, to 26,301.83.

On the BSE, so far 6.80 lakh shares were traded in the counter, compared with average daily volumes of 8.34 lakh shares in the past one quarter. The stock had hit a high of Rs 3.59 and a low of Rs 3.38 so far during the day.

The stock hit a 52-week high of Rs 4.50 on 27 January 2016. The stock hit a 52-week low of Rs 2.42 on 29 June 2016. The stock had outperformed the market over the past 30 days till 27 December 2016, rising 5.23% compared with the 0.52% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 10.27% as against Sensexs 7.35% decline.

The small-cap company has equity capital of Rs 2409.24 crore. Face value per share is Rs 10.

According to a media report, the Ajay Piramal-led Piramal Enterprises and the Renaissance Group, an part of the Dalmia Group, are in the reckoning to jointly purchase a 51% stake in Electrosteel Steels.

While Piramal Enterprises is expected to invest Rs 1400 crore in Electosteel Steels through its private equity arm Piramal Capital, the Renaissance Group will manage the operations. The funds will be used to complete the expansion of the Bokaro plant and increase capacity by one million tonne to 2.5 mtpa, the report suggested.

Electrosteel Steels reported net loss of Rs 485.89 crore in Q2 September 2016 as against net loss of Rs 203.57 crore in Q2 September 2015. Net sales declined 2.6% to Rs 556.93 crore in Q2 September 2016 over Q2 September 2015.

Electrosteel Steels makes products like pig iron, billets, tmt bars, wire rods and ductile iron pipes. Electrosteel Steels is promoted by Electrosteel Castings which owns 45.23% of the equity.

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Parag Milk Foods advances after action from foreign funds
Dec 28,2016

Meanwhile, the S&P BSE Sensex was up 96.67 points or 0.37% at 26,310.11.

On the BSE, 7,121 shares were traded on the counter so far as against the average daily volumes of 74,132 shares in the past one quarter. The stock had hit a high of Rs 267 and a low of Rs 261.20 so far during the day.

The stock had hit a record high of Rs 356.70 on 13 July 2016 and a record low of Rs 202.10 on 24 May 2016. It had underperformed the market over the past one month till 27 December 2016, sliding 3.71% compared with the Sensexs 0.39% fall. The scrip had also underperformed the market in the past one quarter, declining 14.66% as against the Sensexs 7.12% fall.

The small-cap company has equity capital of Rs 84.11 crore. Face value per share is Rs 10.

Macquarie Emerging Markets Asian Trading Pte sold 19.83 lakh shares of the company at Rs 253.85 per share to New Horizon Opportunities Master Fund. Copthall Mauritius Investment offloaded 4.96 lakh shares at Rs 253 a piece to New Horizon Opportunities Master Fund.

Copthall Mauritius Investment held 1.83% and Macquarie Emerging Markets Asian Trading Pte owned 2.87% in Parag Milk Foods end September 2016.

On a consolidated basis, Parag Milk Foods net profit rose 47.7% to Rs 14.33 crore on 0.7% growth in net sales to Rs 472.84 crore in Q2 September 2016 over Q2 September 2015.

Parag Milk Foods manufactures a diverse range of products including cheese, ghee (clarified butter), fresh milk, whey proteins, paneer, curd, yoghurt, milk powders and dairy based beverages targeting a wide range of consumer groups through several brands.

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