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Surya Industrial Corporation to hold AGM

Surya Industrial Corporation to hold AGM

Sep 14,2016

Surya Industrial Corporation announced that the Annual General Meeting (AGM) of the company will be held on 30 September 2016.

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JCT reports standalone net loss of Rs 12.36 crore in the March 2017 quarter
May 31,2017

Net loss of JCT reported to Rs 12.36 crore in the quarter ended March 2017 as against net profit of Rs 4.47 crore during the previous quarter ended March 2016. Sales declined 10.76% to Rs 197.37 crore in the quarter ended March 2017 as against Rs 221.17 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 19.08 crore in the year ended March 2017 as against net profit of Rs 5.43 crore during the previous year ended March 2016. Sales declined 8.07% to Rs 788.26 crore in the year ended March 2017 as against Rs 857.43 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales197.37221.17 -11 788.26857.43 -8 OPM %1.968.03 -4.077.24 - PBDT-4.9512.50 PL 6.2536.12 -83 PBT-12.064.36 PL -24.585.66 PL NP-12.364.47 PL -19.085.43 PL

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Urgent need to recognize retail e-commerce exports as an industry
May 31,2017

Recognizing the immense potential of retail ecommerce exports from India, a FICCI report allows Indian MSMEs to explore prospects in B2C ecommerce retail export. Exploring Potential of E-Commerce for Retail Exports of Indian MSMEs in Manufacturing Sector was prepared by FICCI, Indian Institute of Foreign Trade-Centre for MSME Studies and Apex Cluster Development Services. As per the study, the total potential for B2C ecommerce exports is estimated at approximately. USD 26 billion, of which USD 3 billion can be achieved in the next three years from 16 product categories.

The study, supported by eBay India, involves an in-depth survey on the major MSME clusters across the country. The survey brings forth limitations pertaining to ICT infrastructure; epayment and logistics across MSME sectors. It also highlights reasons like bandwidth and network restrictions, lack of availability of skilled workforce, privacy and security concerns and inaccessibility to finance amongst other reasons that are collectively dissuading Indian MSMEs from adopting modern retail practices. The study highlights the need for the Government to recognise ecommerce retail exports as an industry and work towards removing regulatory barriers, including reviewing the FTP policy, simplifying customs duty procedures etc.

The study provides MSMEs with the requisite information to undertake ecommerce retail exports while exploring the untapped potential of the international B2C e-commerce market by leveraging the digital platform to bridge the gap between buyers and sellers. It also aims to intensify the global reach of Indian MSMEs and enhance the export competitiveness of Made in India products.

However, this huge potential of e-commerce towards will only be feasible through modifications in the current Merchandise Exports from India Scheme (MEIS) policy under.

Mr. Tripathi said that there was a need to reduce the distance between the producer and consumer and e-commerce could help in bridging this gap. Besides, it would also reduce the cost of products. He added that today Indian manufacturers were producing locally for global markets and the study revealed that manufacturers were taking advantage of technology to reach global markets.

Alluding to various initiatives of the government of India such as Zero Defect Zero Effect, Mr. Tripathi said that the MSMEs should take advantage of schemes to improve the quality of their products and scale up their business. He added that the government was working towards improving ease of doing business and addressing various challenges faced by MSMEs.

Mr. J. V Patil, Additional DGFT, Director General of Foreign Trade, Ministry of Commerce & Industry, Government of India, said that there was a need to facilitate movement of products through e-commerce. Referring to MEIS, he said that it provides benefits on various products and exporters should leverage it. Citing the success story of an online store, eShakti, which caters to people across the globe including the US and Canada, Mr. Patel said that e-commerce provides immense business potential.

Mr. Sanjay Bhatia, President, FICCI-CMSME, stated, n++There is no way we can undermine the contribution of MSMEs to our economy and it is in fact very important that we continue to explore synergies to integrate this very important sector with the latest emerging trends. Ecommerce is one such trend which is massively changing the mechanism of global businesses. Online retail segment has seen tremendous growth globally over the past couple of decades. Even though this trend has caught up recently in India but the exponential growth has certainly been striking.n++

He said that the e-Commerce spend in India still accounts for less than 2 per cent of the total retail spending (compared to 10-13 per cent in developed countries), nonetheless the segment has become a key driver to create new markets in erstwhile unreachable geographies. The online international trade is flourishing and given the increasing accessibility to internet and the focus of the Government on Digital drive, our MSMEs can benefit directly from this opportunity. It is important that the Government recognised retail e-commerce exports as an industry.

Mr. Bhatia said that the study highlights the need for MSMEs to increase their presence in international market places using B2C exports as major tool. The study covers in detail the status, missing opportunity by MSMEs and also suggests the policy changes required to make B2C ecommerce a smooth and attractive option for the exports by MSMEs. The suggestions are related to changes to be made in the existing system and need for new policy measures to adopt in areas of customs, DGFT, banks and ICT.

Commenting on the report, Mr. Navin Mistry, Director Retail Exports, eBay India, said, n++Since 2012, eBay India has always been proactively driving the agenda for Cross Border Trade in India. We are happy to have contributed to the study given our understanding of working with over 25,000 small and medium entrepreneurs who actively leverage our platform to sell across 200+ countries. We are positive that together with FICCI and IIFT we will be able to initiate dialogues at policy level to ease norms for e-commerce retail exports and encourage larger MSME base to tap the potential of ecommerce.n++

The study emphasizes on creating synergies with numerous export promotion programs and schemes by the government and their agencies, which will help in on-boarding large number of sellers and more exports per seller. The study also highlights policy recommendations towards integrating Make in India and Digital India, which will enable access to new geographies and market diversification for the Indian MSMEs.

Dr. Tamanna Chaturvedi, Consultant, MSME Centre at IIFT, explained that Centre works extensively towards promoting exports from MSME sectors and has found immense CBT potential of certain sectors including textiles and apparel, sports good, handicrafts, handlooms, gems and jewellery etc. having potential to uplift the CBT (B2C) revenue from existing USD 500 million to USD two billion by the year 2020.

Mr. Rajveer Singh, MD, Apex Cluster Development Services Private Limited, said that there were infrastructural issues such as stronger ICT support in terms of speed and reliability of the network, power failure in rural areas and perception issues on technical complexities needs to be addressed in parallel to exploit full potential.

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Kamdhenu hits peak after strong Q4 results
May 31,2017

The result was announced after market hours yesterday, 30 May 2017. The stock had dropped 3.32% to Rs 109.10 yesterday, 30 May 2017, ahead of Q4 results.

Meanwhile, the S&P BSE Sensex was down 1.34 points, or 0.01% at 31,158.05. The S&P BSE Small-cap index was up 142.44 points, 0.95% at 15,066.48.

On the BSE, 5,726 shares were traded on the counter so far as against the average daily volumes of 14,747 shares in the past one quarter. The stock had hit a high of Rs 120 in intraday trade, which is also a record high. The stock had hit a low of Rs 113 so far during the day. The stock had hit a 52-week low of Rs 50.10 on 24 June 2016.

The stock had outperformed the market over the past one month till 30 May 2017, gaining 17.25% compared with 4.15% gains in the Sensex. The scrip had outperformed the market in past one quarter, gaining 20.49% as against Sensexs 8.41% gains. The scrip had also outperformed the market in past one year, jumping 101.11% as against Sensexs 16.59% gains.

Kamdhenus board of directors recommended dividend of Re. 0.80 per share for the year ended 31 March 2017 (FY 2017).

Good increase in sales of all three segments, namely, power, steel and paints resulted in good sales and profitability in Q4.

Kamdhenu, formerly Kamdhenu Ispat, is engaged in manufacturing, distribution, marketing, branding of steel and paints across India. The company manufactures thermo-mechanically treated (TMT) steel. Its segments include steel, paints and power (wind mills).

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Subex bags awards in Managed Services category and Security & Assurance category
May 31,2017

Subex has announced that it has been declared the winner at the prestigious 2017 Pipeline Innovation Awards in the Innovations in Managed Services; and the Runner-up in the Innovations in Security & Assurance category.

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Board of Sri Adhikari Brothers Television Network recommends dividend on preference shares
May 31,2017

Sri Adhikari Brothers Television Network announced the Board of Directors of the Company at its meeting held on 30 May 2017, inter alia, has recommended a Dividend of Re. 001 per Preference Share of Rs. 10/- each and Re. 0.60 per Equity Share of Rs. 10/- each for the financial year ended 31 March 2017, subject to approval of shareholders of the Company at the ensuing Annual General Meeting of the Company.

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Ujaas Energy receives LoI from MOIL
May 31,2017

Ujaas Energy has received letter of intent from MOIL for design, engineering, procurement, supply, construction, erection, testing & Commissioning of 5.5 MW (AC) Solar PV Plants with tracking system on turnkey basis at Mines in the state of Madhya Pradesh.

This order is in addition to the LOI received in December 2016 for 5.00MW (AC) in Maharashtra.

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Good Q4 results lifts Uflex higher
May 31,2017

The result was announced after market hours yesterday, 30 May 2017.

Meanwhile, the S&P BSE Sensex was up 10.94 points, or 0.04%, to 31,170.34. The S&P BSE Small-Cap index was up 123.67 points, or 0.83%, to 15,047.71.

On the BSE, 14,413 shares were traded in the counter so far, compared with average daily volume of 48,173 shares in the past one quarter. The stock had hit a high of Rs 354 and a low of Rs 339 so far during the day. The stock had hit a record high of Rs 393.85 on 17 May 2017. The stock had hit a 52-week low of Rs 187 on 31 May 2016.

The stock had dropped 5.02% in two sessions to Rs 335.70 yesterday, 30 May 2017 from a close of Rs 353.45 on 26 May 2017 ahead of Q4 results.

The stock had underperformed the market over the past one month till 30 May 2017, sliding 9.56% compared with 4.15% gains in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 25.05% as against Sensexs 8.41% gains. The scrip had also outperformed the market in past one year, gaining 75.44% as against Sensexs 16.59% gains.

The small-cap company has equity capital of Rs 72.21 crore. Face value per share is Rs 10.

Uflexs board of directors recommended a dividend of Rs 3.50 per share for the financial year ended 31 March 2017 (FY 2017).

R K Jain, Group President said that the sales volume rose owing to the companys emphasis on innovation to create value added differentiation in products. New variants of speciality and high barrier films coupled with value added packaging solutions that company launched throughout the year played a significant role in the overall sales volumes and profit growth, he added.

Uflex is an end-to-end flexible packaging materials and solutions company.

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Monnet Ispat loses luster as net loss widens in Q4
May 31,2017

The result was announced after market hours yesterday, 30 May 2017.

Meanwhile, the S&P BSE Sensex was down 8.91 points, or 0.03%, to 31,155.57. The S&P BSE Small-Cap index was up 117.41 points, or 0.79%, to 15,041.75.

On the BSE, 13,216 shares were traded in the counter so far, compared with an average volume of 1.52 lakh shares in the past one quarter.

The stock had hit a high of Rs 37.50 and a low of Rs 35.05 so far during the day. The stock had hit a 52-week high of Rs 44.50 on 17 May 2017. The stock had hit a 52-week low of Rs 19.25 on 9 December 2016.

The stock had risen 2.04% to Rs 37.50 yesterday, 30 May 2017, ahead of the results.

The stock had underperformed the market over the past one month till 30 May 2017, sliding 0.66% compared with 4.15% gains in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 11.28% as against Sensexs 8.41% gains. The scrip had also outperformed the market in past one year, gaining 68.92% as against Sensexs 16.59% gains.

The small-cap company has an equity capital of Rs 200.77 crore. Face value per share is Rs 10.

Monnet Ispat & Energys total income fell 5.57% to Rs 389.19 crore in Q4 March 2017 over Q4 March 2016.

Established in 1994 by Chairman & Managing Director, Sandeep Jajodia, Monnet Ispat & Energy, has a de-risked business portfolio that encompasses manufacturing and marketing of sponge iron, steel and ferro alloys. MIEL is also engaged in mining of minerals like coal and iron ore.

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MOIL advances after reporting strong Q4 results
May 31,2017

The result was announced after market hours yesterday, 30 May 2017.

Meanwhile, the S&P BSE Sensex was down 3.79 points, or 0.01% at 31,155.61. The S&P BSE Mid-Cap index was up 110.29 points, or 0.76% at 14,600.05.

High volumes were witnessed on the counter. On the BSE, 85,000 shares were traded on the counter so far as against the average daily volumes of 47,792 shares in the past one quarter. The stock had hit a high of Rs 340 and a low of Rs 330.95 so far during the day.

The stock had hit a 52-week high of Rs 429 on 12 January 2017 and hit a 52-week low of Rs 218.80 on 30 May 2016. The stock had underperformed the market over the past one month till 30 May 2017, advancing 1.79% compared with the Sensexs 4.15% rise. The scrip had also underperformed the market over the past one quarter declining 9.4% as against the Sensexs 8.41% rise.

The mid-cap company has equity capital of Rs 133.19 crore. Face value per share is Rs 10.

MOILs board recommended a final dividend of Rs 6 per equity share for the year ended March 2017.

MOIL produces and sells different grades of manganese ore. Government of India currently holds 65.58% stake in MOIL (as per the shareholding pattern as on 31 March 2017).

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Board of Alfavision Overseas (India) accepts resignation of director
May 31,2017

Alfavision Overseas (India) announced that the Board of Directors of the Company at its meeting held on 30 May 2017 has accepted the resignation of Durga Prasad Yadav from the post of Independent Director of the Company.

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MTNL drops after reverse turnaround in Q4
May 31,2017

The result was announced after market hours yesterday, 30 May 2017.

Meanwhile, the S&P BSE Sensex was up 21.28 points, or 0.07% to 31,180.68. The S&P BSE Small-Cap index was up 131.97 points, or 0.88% to 15,056.01.

On the BSE, 1.18 lakh shares were traded in the counter so far, compared with average daily volumes of 8.19 lakh shares in the past one quarter. The stock hit a high of Rs 21.05 and a low of Rs 20.55 so far during the day. The stock hit a 52-week high of Rs 27.50 on 25 April 2017. The stock hit a 52-week low of Rs 15 on 22 November 2016.

The small-cap company has equity capital of Rs 630 crore. Face value per share is Rs 10.

MTNLs total income fell 2.97% to Rs 963.12 crore in Q4 March 2017 over Q4 March 2016.

State-run MTNL provides telecommunication services. The Government of India currently holds 56.25% stake in MTNL (as per the shareholding pattern as on 31 March 2017).

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Archidply Industries appoints CFO
May 31,2017

Archidply Industries has appointed Anil Sureka as CFO of the Company with effect from 30 May 2017.

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Shreyas Intermediates appoints director
May 31,2017

Shreyas Intermediates announces appointment of Dinesh Chaturvedi as an Additional Director of the Company to hold the office of Whole-time Director for a period of three years w.e.f 30 May 2017.

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Lanco Infratech appoints director
May 31,2017

Lanco Infratech announced that the Board of Directors of the Company at its meeting held on 30 May 2017 has appointed Satish Chandra Sinha as Independent Director of the Company.

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GST would help in creating lot of jobs for young generation
May 31,2017

Dr. Hasmukh Adhia, Revenue Secretary, Ministry of Finance, Government of India categorically stated that the Goods and Services Tax (GST) will be implemented from 01 July 2017.

Dr. Adhia further said that the Karnataka Government has made maximum contribution for GST and the Central Government is moving ahead as the GST would prove to be a game changer. He said that GST would help in creating lot of jobs for young generation. Dr Adhia further said that Indias economic potential is much higher and the GST would help in converting the economic energy in to real growth.

Dr Adhia elaborated the benefits of GST, explained how it would lead to ease of doing business, how to comply with its various provisions among others. He said that GST would bring in uniformity of different tax laws and tax rules. He said that there would be seamless transfer of input tax credit under GST regime. In his concise briefing, Dr Adhia clarified the doubts of various stakeholders about different issues relating to GST. He also assured to reply to the queries and to clarify the doubts of people at large about GST through the GST Twitter handle.

Shri Krishna Byre Gowda, Agriculture Minister, Government of Karnataka and Member of the GST Council spoke at length and explained the rationale of tax structure under GST regime. He also elaborated the contribution of GST Council under the Chairmanship of the Union Finance Minister Shri Arun Jaitley which took all the decisions so far unanimously and helped in reaching the present stage of GST implementation. He said that the GST is a major customer-friendly indirect tax reform. He said that the intention is not to increase the taxes but to increase the revenue by implementing GST as it would bring transparency, simplification and efficiency in tax administration and help in curbing tax evasion & thereby leading to tax buoyancy.

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