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Mangalam Cement gains after starting production at new grinding unit
Sep 20,2016

The announcement was made after market hours yesterday, 19 September 2016.

Meanwhile, the S&P BSE Sensex was down 66.59 points or 0.23% at 28,567.91.

On BSE, so far 18,332 shares were traded in the counter as against average daily volume of 19,711 shares in the past two weeks. The stock hit a high of Rs 350 and a low of Rs 345 so far during the day. The stock had hit a record high of Rs 375.15 on 23 August 2016. The stock had hit a 52-week low of Rs 151.10 on 25 February 2016. The stock had underperformed the market over the past one month till 19 September 2016, falling 5.62% compared with Sensexs 1.99% rise. The scrip had, however, outperformed the market in past one quarter, rising 16.45% as against Sensexs 7.54% rise.

The small-cap company has equity capital of Rs 26.69 crore. Face value per share is Rs 10.

Mangalam Cement said that it has commenced commercial production at the new cement grinding unit with a capacity of 0.75 million ton per annum (MTPA) at Aligarh, Uttar Pradesh. The overall capacity is now enhanced from 3.25 MTPA to 4 MTPA.

Mangalam Cement reported net profit of Rs 22.59 crore in the quarter ended 30 June 2016 compared with net loss of Rs 18.91 crore in the quarter ended 30 June 2015. Sales rose 6% to Rs 224.13 crore in the quarter ended 30 June 2016 over the quarter ended 30 June 2015.

Mangalam Cement is a cement manufacturing company.

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KPR Mill hits record high as board to consider stock-split plan
Sep 20,2016

The announcement was made after market hours yesterday, 19 September 2016.

Meanwhile, the S&P BSE Sensex was down 100.29 points or 0.35% at 28,553.99

On BSE, so far 314 shares were traded in the counter as against average daily volume of 6,936 shares in the past one quarter. The stock hit a high of Rs 1,241.90 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 1,190.05 so far during the day. The stock had hit a 52-week low of Rs 620 on 17 February 2016.

The mid-cap company has equity capital of Rs 37.68 crore. Face value per share is Rs 10.

KPR Mills net profit rose 24.52% to Rs 62.87 crore on 5.87% growth in net sales to Rs 638.81 crore in Q1 June 2016 over Q1 June 2015.

KPR Mill is engaged in manufacture of readymade knitted apparel, cotton knitted fabric and yarn in India.

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Dr Reddys Lab inches up after launching Paricalcitol injection
Sep 20,2016

The announcement was made after market hours yesterday, 19 September 2016.

Meanwhile, the S&P BSE Sensex was down 50.36 points or 0.18% at 28,584.14

On BSE, so far 1,437 shares were traded in the counter as against average daily volume of 39,235 shares in the past one quarter. The stock hit a high of Rs 3,190 and a low of Rs 3,165 so far during the day. The stock had hit a a record high of Rs 4,382.95 on 20 October 2015. The stock had hit a 52-week low of Rs 2,750 on 21 January 2016.

The large-cap company has equity capital of Rs 85.39 crore. Face value per share is Rs 5.

Dr Reddys Laboratories said it has launched Paricalcitol injection, USP, a therapeutic equivalent generic version of Zemplar (Paricalcitol) injection in the United States market approved by the US Food & Drug Administration (USFDA). The Zemplar brand and generic had US sales of approximately $22.5 million MAT for the most recent twelve months ending in July 2016 according to IMS Health. Dr. Reddys Paricalcitol Injection is available in 2 mcg, 5 mcg, and 10 mcg, and is the first ANDA product launched in the US market.

Dr Reddys Laboratories consolidated net profit fell 76.3% to Rs 153.50 crore on 14.1% decline in total income to Rs 3289.50 crore in Q1 June 2016 over Q1 June 2015.

Dr Reddys Laboratories is an integrated global pharmaceutical company. It offers a portfolio of products and services including active pharmaceutical ingredients (APIs), custom pharmaceutical services, generics, biosimilars and differentiated formulations.

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Glenmark Pharma gains as subsidiary announces strategic development and global licensing agreement
Sep 19,2016

The announcement was made during market hours today, 19 September 2016.

Meanwhile, the S&P BSE Sensex was up 34.53 points, or 0.12%, to 28,633.56

On BSE, so far 74,000 shares were traded in the counter, compared with average daily volume of 67,669 shares in the past one quarter. The stock hit a high of Rs 929 and a low of Rs 906.80 so far during the day. The stock hit a 52-week high of Rs 1,074.90 on 6 October 2015. The stock hit a 52-week low of Rs 671.50 on 12 February 2016. The stock had outperformed the market over the past 30 days till 16 September 2016, rising 4.51% compared with 1.69% rise in the Sensex. The scrip also outperformed the market in past one quarter, rising 20.61% as against Sensexs 7.41% rise.

The large-cap company has equity capital of Rs 28.22 crore. Face value per share is Re 1.

Glenmark Pharmaceuticals said that its US-based subsidiary, Glenmark Pharmaceuticals Inc., USA, (Glenmark) today, 19 September 2016 announced that it has entered into a strategic development, license and commercialization agreement with Particle Sciences, Inc. to develop and market a generic version of Celgenes ABRAXANE product - paclitaxel protein (albumin)-bound particles for injectable suspension. As per the terms of the agreement, Glenmark has obtained global exclusive marketing and distribution rights of the product upon commercialization. Particle Sciences will develop this product exclusively for Glenmark, and shall receive certain milestone payments during various stages of the products development from Glenmark, including royalties on sales. Development of the product has been initiated for the USA market and Glenmark intends to file the Abbreviated New Drug Application (ANDA) in the year ending 31 March 2019 (FY19). The product will be subsequently filed in other key markets across the globe, Glenmark said.

ABRAXANE marketed globally by Celgene has reported sales of $967 million world-wide and $654 million in the USA in the calendar year 2015. As per IMS MAT December 2015, ABRAXANE has registered sales of $990 million world-wide and $669 million in the USA.

Glenmark Pharmaceuticals consolidated net profit rose 23.96% to Rs 226.78 crore on 22.13% increase in total income to Rs 2018.97 crore in Q1 June 2016 over Q1 June 2015.

Glenmark Pharmaceuticals (GPL) is an integrated pharmaceutical organization. GPL is a leading player in the discovery of new molecules both NCEs (new chemical entity) and NBEs (new biological entity).

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Manappuram Finance gains on fund raising plans
Sep 19,2016

The announcement was made during market hours today, 19 September 2016.

On BSE, so far 3.8 lakh shares were traded in the counter, compared with an average volume of 11.48 lakh shares in the past one quarter. The stock hit a high of Rs 98.85 and a low of Rs 95.80 so far during the day.

Manappuram Finance said that Financial Resources and Management Committee of Board of Directors at its meeting to be held on 22 September 2016 will consider the proposal to raise funds through secured redeemable non-convertible debentures aggregating to Rs 150 crore on private placement basis.

Manappuram Finance is a non-banking financial company (NBFC), providing finance against household gold ornament.

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GVK Power jumps as subsidiary settles dispute with HDIL
Sep 19,2016

The announcement was made during trading hours today, 19 September 2016.

Meanwhile, the S&P BSE Sensex was up 78.67 points, or 0.28%, to 28,677.70

On BSE, so far 24.99 lakh shares were traded in the counter, compared with average daily volume of 7.79 lakh shares in the past one quarter. The stock hit a high of Rs 7.28 and a low of Rs 6.43 so far during the day. The stock hit a 52-week high of Rs 9.77 on 24 November 2015. The stock hit a 52-week low of Rs 4.13 on 6 June 2016. The stock had outperformed the market over the past 30 days till 16 September 2016, rising 9.05% compared with 1.69% rise in the Sensex. The scrip also outperformed the market in past one quarter, rising 10.9% as against Sensexs 7.41% rise.

The small-cap company has an equity capital of Rs 157.92 crore. Face value per share is Re 1.

Shares of Housing Development and Infrastucture (HDIL) slipped 0.73% to Rs 88.45. GVK Power and Infrastructure said the companys subsidiary Mumbai International Airport (MIAL) has settled the dispute with realty firm HDIL related to the slum rehabilitation activities near the Mumbai International Airport. MIAL and HDIL have signed a settlement agreement dated 8 September 2016 vide which they have irrevocably and unconditionally withdrawn all their respective claims and counter- claims against each other, GVK Power and Infrastructure said.

It may be recalled that MIAL had entered into an agreement with HDIL on 15 October 2007 for implementation of a slum rehabilitation project at Chhatrapati Shivaji International Airport (CSIA). However, due to disputes between MIAL and HDIL, the agreement was terminated by MIAL on 6 February 2013. HDIL challenged the termination of the agreement, invoked the arbitration clause and moved a petition before the Bombay High Court. Considering that considerable time has lapsed from the time the proceedings commenced, MIAL and HDIL have held discussions on various issues to put an end to the ongoing arbitration and have arrived at an amicable settlement.

GVK Power & Infrastructure reported net loss of Rs 51.04 crore in Q1 June 2016, higher than net loss of Rs 3.09 crore in Q1 June 2015. Total income rose 6.11% to Rs 16.85 crore in Q1 June 2016 over Q1 June 2015.

GVK Power & Infrastructure is a leading Indian conglomerate with presence across energy, resources, airports, transportation, hospitality and life sciences sectors.

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Bharat Electronics gains after announcing plans to set up factory
Sep 19,2016

The announcement was made during market hours today, 19 September 2016.

Meanwhile, the S&P BSE Sensex was up 86.07 points or 0.3% at 28,685.10.

More than usual volumes were witnessed on the counter. On BSE, so far 42,411 shares were traded in the counter as against average daily volume of 26,261 shares in the past one quarter. The stock hit a high of Rs 1,237.50 and a low of Rs 1,220 so far during the day. The stock had hit a record high of Rs 1,416.70 on 4 January 2016. The stock had hit a 52-week low of Rs 1,009 on 1 March 2016. The stock had underperformed the market over the past one month till 16 September 2016, falling 1.63% compared with Sensexs 1.9% rise. The scrip had also underperformed the market in past one quarter, dropping 4.15% as against Sensexs 7.82% rise.

The large-cap company has equity capital of Rs 240 crore. Face value per share is Rs 10.

Bharat Electronics said that it will be the largest such factory in the country once it is commissioned, covering an area of over 50 acres. In order to support Government of India initiatives such as Make in India, the company is extending its support to start up companies and medium and small manufacturing enterprises (MSMEs) through procurement of specific items from them.

The factory will enable the company to expand its Electro-Optics business and carry out manufacturing and integration for the ongoing and upcoming projects. The factory will be built in stages and the estimated investment will be about Rs 300 crore over 4 year period. As part of diversification and business growth, the company is looking for major expansion into high end image intensifier tubes and thermal imaging detectors for night vision products, inertial navigation systems, electronic ammunition fuses, air traffic management radars, intelligent traffic management systems and solar power plants.

Bharat Electronics net profit fell 52.9% to Rs 36.09 crore on 20.9% decline in net sales to Rs 846.73 crore in Q1 June 2016 over Q1 June 2015.

Bharat Electronics was established at Bangalore, India, by the Government of India under the Ministry of Defence in 1954 to meet the specialised electronic needs of the Indian defence services. Over the years, it has grown into a multi-product, multi-technology, multi-unit company servicing the needs of customers in diverse fields in India and abroad.

The Government of India currently holds 75.02% stake in Bharat Electronics (as per the shareholding pattern as on 30 June 2016).

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RCom gains on bargain hunting
Sep 19,2016

Meanwhile, the BSE Sensex was up 43.64 points, or 0.15%, to 28,642.67.

On BSE, so far 10.12 lakh shares were traded in the counter, compared with an average volume of 28.71 lakh shares in the past one quarter. The stock hit a high of Rs 49.20 and a low of Rs 48.40 so far during the day. The stock hit a 52-week high of Rs 91.80 on 1 January 2016. The stock hit a record low of Rs 45.55 on 24 June 2016. The stock had underperformed the market over the past one month till 16 September 2016, rising 0.52% compared with Sensexs 1.9% rise. The scrip had also underperformed the market in past one quarter, gaining 2.99% as against Sensexs 7.82% rise.

The large-cap company has equity capital of Rs 1244.49 crore. Face value per share is Rs 5.

From a close of Rs 51.05 on 14 September 2016, the stock dropped 5.58% in two sessions to settle at Rs 48.20 on 16 September 2016. Reliance Communications (RCom) announced after market hours on 14 September 2016 that the company and Maxis Communications Berhad (MCB), promoters of Aircel, a leading pan-India mobile operator signed definitive documents for the merger of their Indian wireless businesses-the largest-ever consolidation in the Indian telecom sector. The stock had dropped 2.45% to Rs 49.80 on 15 September 2016 following the announcement of merger. The RCom-Aircel combination will create a strong operator ranked amongst Indias top 4 telecom companies by customer base and revenues, also ranking amongst the top 3 operators by revenues in 12 important circles.

The merged company will be one of Indias largest private sector companies, with an asset base of over Rs 65000 crore ($9.7 billion) and net worth of Rs 35000 crore ($5.2 billion). The combined entity will enjoy substantial benefits of scale driving significant revenue growth, and capex and opex synergies with an NPV of Rs 20000 crore ($3 billion).

RCom and MCB will each hold a 50% stake in the merged entity with equal representation on the board of directors and all committees. The company will be managed by an independent professional team under the supervision of the board. RComs overall debt will reduce by Rs 20000 crore ($3 billion) or over 40% of its total debt, and Aircels debt will reduce by Rs 4000 crore ($600 million), upon completion of the transaction in 2017.

RComs consolidated net profit rose 5.9% to Rs 54 crore on 3.8% decline in net sales to Rs 5247 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours on 14 September 2016.

RCom is an integrated telecommunications service provider.

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Raymond hits 52-week high
Sep 19,2016

Meanwhile, the S&P BSE Sensex was up 41.61 points or 0.15% at 28,640.64

On BSE, so far 3.55 lakh shares were traded in the counter as against average daily volume of 27,460 shares in the past one quarter. The stock hit a high of Rs 534 in intraday trade so far, which is 52-week high for the counter. The stock hit a low of Rs 474.05 so far during the day. The stock had hit a 52-week low of Rs 351.50 on 12 February 2016. The stock had outperformed the market over the past 30 days till 16 September 2016, rising 13.43% compared with 1.69% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, rising 2.57% as against Sensexs 7.41% rise.

The small-cap company has equity capital of Rs 61.38 crore. Face value per share is Rs 10.

Shares of Raymond have been on a roll recently, gaining 8.97% in three trading days to settle at Rs 476.75 on Friday, 16 September 2016 from its close of Rs 437.50 on 12 September 2016. The stock rose 2.7% to settle at Rs 476.75 on Friday, 16 September 2016 on reports that the company is planning to cut about 10,000 jobs in its manufacturing centres in the next three years, replacing them with robots and technology. Raymonds CEO Sanjay Behl was quoted as saying that through technological intervention the company is looking to scale down the number of jobs to 20,000 in its manufacturing centres in the next three years, from existing strength of about 30,000 people.

On a consolidated basis, Raymond reported net loss of Rs 16.61 crore in Q1 June 2016, higher than net loss of Rs 14.47 crore in Q1 June 2015. Net sales rose 4.81% to Rs 1057.36 crore in Q1 June 2016 over Q1 June 2015.

Raymond offers end-to-end solutions for fabrics and garmenting.

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Volumes jump at Emami Paper Mills counter
Sep 19,2016

Emami Paper Mills clocked volume of 8.06 lakh shares by 13:25 IST on BSE, a 119.03-times surge over two-week average daily volume of 7,000 shares. The stock was up 0.44% at Rs 69.

IIFL Holdings notched up volume of 8.58 lakh shares, a 67.82-fold surge over two-week average daily volume of 13,000 shares. The stock rose 4.83% at Rs 261.50.

Polyplex Corporation saw volume of 2.3 lakh shares, a 42.74-fold surge over two-week average daily volume of 5,000 shares. The stock surged 14.05% at Rs 338.

Sharp India clocked volume of 7.75 lakh shares, a 19.94-fold surge over two-week average daily volume of 38,000 shares. The stock was locked at 20% upper circuit at Rs 68.40.

Cyient saw volume of 2.03 lakh shares, a 17.63-fold rise over two-week average daily volume of 12,000 shares. The stock gained 1.56% at Rs 470.60.

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Power Grid Corporation gains after board accords investment approval
Sep 19,2016

The announcement was made after market hours on Friday, 16 September 2016.

Meanwhile, the S&P BSE Sensex was up 63.02 points or 63.02 at 28,671.67.

On BSE, so far 76,938 shares were traded in the counter as against average daily volume of 4.03 lakh shares in the past one quarter. The stock was volatile. At the days high of Rs 176.70, so far during the day, the stock rose 0.65%. At the days low of Rs 174.25, so far during the day, the stock fell 0.74%. The stock hit a record high of Rs 187.70 on 6 September 2016. The stock hit a 52-week low of Rs 124.80 on 28 September 2015. The stock had underperformed the market over the past one month till 16 September 2016, falling 1.13% compared with Sensexs 1.9% rise. The scrip had, however, outperformed the market in past one quarter, gaining 13.51% as against Sensexs 7.82% rise.

The large-cap company has equity capital of Rs 5231.59 crore. Face value per share is Rs 10.

Power Grid Corporation of India said that the companys board of directors at a meeting held on 16 September 2016 accorded investment approval for System Strengthening in Southern Region - XXI at an estimated cost of Rs 562.25 crore, with commissioning schedule of 30 months progressively from the date of investment approval.

PowerGrid Corporation of Indias net profit rose 32.9% to Rs 1801.77 crore on 29.4% rise in net sales to Rs 6069.06 crore in Q1 June 2016 over Q1 June 2015.

Power Grid Corporation of India is a state run electric power transmission utility company. The Government of India holds 57.9% stake in the firm as at 30 June 2016.

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South Indian Bank falls as RBI places restrictions on further purchases by FPIs
Sep 19,2016

Meanwhile, the S&P BSE Sensex was up 81.86 points or 0.29% at 28,680.89

On BSE, so far 2.33 lakh shares were traded in the counter as against average daily volume of 2.48 lakh shares in the past two weeks. The stock hit a high of Rs 23.85 and a low of Rs 23.50 so far during the day. The stock had hit a 52-week high of Rs 25.40 on 8 September 2016. The stock had hit a 52-week low of Rs 16.40 on 29 February 2016.

The mid-cap private sector bank has equity capital of Rs 135.06 crore. Face value per share is Re 1.

The Reserve Bank of India on Friday, 16 September 2016 notified that the foreign shareholding by American Depository Receipts (ADR)/Global Depository Receipts (GDR)/Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs)/Non Resident Indian (NRIs)/Foreign Direct Investment (FDIs)/Persons of Indian Origin (PIOs) in South Indian Bank has reached the trigger limit. Hence further purchases of equity shares of the bank would be allowed only after obtaining prior approval of the Reserve Bank of India.

South Indian Banks net profit rose 45.6% to Rs 95.06 crore on 9.47% growth in total income to Rs 1620.67 crore in Q1 June 2016 over Q1 June 2015.

South Indian Bank is a private sector bank in India.

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Karur Vysya Bank gains ahead of board meet to consider stock split
Sep 19,2016

Meanwhile, the BSE Sensex was up 86.30 points, or 0.31%, to 28,686.98.

On BSE, so far 7,418 shares were traded in the counter, compared with an average volume of 24,327 shares in the past one quarter. The stock hit a high of Rs 478.95 and a low of Rs 469.90 so far during the day. The stock hit a 52-week high of Rs 541.40 on 11 July 2016. The stock hit a 52-week low of Rs 393.90 on 29 February 2016. The stock had underperformed the market over the past one month till 16 September 2016, falling 3.97% compared with Sensexs 1.9% rise. The scrip had also underperformed the market in past one quarter, dropping 1.41% as against Sensexs 7.82% rise.

The mid-cap private sector bank has an equity capital of Rs 121.86 crore. Face value per share is Rs 10.

Karur Vysya Banks net profit rose 8.7% to Rs 146.35 crore on 1.9% rise in total income to Rs 1547.31 crore in Q1 June 2016 over Q1 June 2015.

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Brigade Enterprises gains as subsidiary enters into agreement with Cornerstone Bay East Developers
Sep 19,2016

The announcement was made on Saturday, 17 September 2016.

Meanwhile, the S&P BSE Sensex was up 97.79 points, or 0.34%, to 28,696.82

On BSE, so far 61,777 shares were traded in the counter, compared with average daily volume of 16,373 shares in the past one quarter. The stock hit a high of Rs 180 and a low of Rs 176.90 so far during the day. The stock hit a 52-week high of Rs 186.80 on 17 June 2016. The stock hit a 52-week low of Rs 123.50 on 13 January 2016. The stock had outperformed the market over the past 30 days till 16 September 2016, rising 4% compared with 1.69% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, sliding 2.74% as against Sensexs 7.41% rise.

The small-cap company has an equity capital of Rs 113.22 crore. Face value per share is Rs 10.

Brigade Enterprises said that Mysore Projects, a wholly owned subsidiary of the company has entered into a joint development agreement with Cornerstone Bay East Developers (land owner) to develop 47 acres at Varthur and Gunjur, Off Whitefield region, Bangalore which will have a developable area of around 5 million sq. ft.

Separately, Brigade Enterprises said that the company has subscribed to the equity shares issued by Mysore Projects and has also acquired the equity shares from the existing shareholders of Mysore Projects. Due to this, Mysore Projects has become a wholly owned subsidiary of the company. The announcement was made on Saturday, 17 September 2016.

Brigade Enterprises consolidated net profit declined 22.02% to Rs 20.19 crore on 4.88% rise in net sales to Rs 441.33 crore in Q1 June 2016 over Q1 June 2015.

Brigade Enterprises is Brigade Groups flagship company. Brigade Group was established in 1986, with property development as its main focus.

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Heritage Foods gains on buzz Future Group plans to buy its retail business
Sep 19,2016

Meanwhile, the S&P BSE Sensex was up 91.75 points or 0.32% at 28,690.78.

On BSE, so far 18,281 shares were traded in the counter as against average daily volume of 13,077 shares in the past one quarter. The stock hit high of Rs 888, so far during the day, which is a record high for the stock. The stock hit low of Rs 838 so far during the day. The stock had hit a 52-week low of Rs 368 on 18 September 2015. The stock had outperformed the market over the past one month till 16 September 2016, gaining 28.36% compared with Sensexs 1.9% rise. The scrip had also outperformed the market in past one quarter, surging 54.22% as against Sensexs 7.82% rise.

The mid-cap company has equity capital of Rs 23.20 crore. Face value per share is Rs 10.

As per reports, if the deal fructifies, Kishore Biyani promoted Future Group would see an addition to its stable a network of more than 100 grocery outlets in Hyderabad, Chennai and Bengaluru.

Shares of Future Retail fell 0.17% to Rs 150.50. Shares of Future Enterprises rose 0.91% to Rs 16.60.

Heritage Foods consolidated net profit rose 54.1% to Rs 16.52 crore on 9.1% rise in net sales to Rs 619.45 crore in Q1 June 2016 over Q1 June 2015.

Heritage Foods operates in dairy, retail, agri, bakery and renewable energy segments.

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