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Future Enterprises standalone net profit rises 615.37% in the June 2016 quarter

Future Enterprises standalone net profit rises 615.37% in the June 2016 quarter

Sep 14,2016

Net profit of Future Enterprises rose 615.37% to Rs 315.48 crore in the quarter ended June 2016 as against Rs 44.10 crore during the previous quarter ended June 2015. Sales declined 67.64% to Rs 921.19 crore in the quarter ended June 2016 as against Rs 2846.84 crore during the previous quarter ended June 2015.

ParticularsQuarter Ended
n++Jun. 2016Jun. 2015% Var.
Sales921.192846.84-68
OPM %24.969.91-
PBDT295.07184.1360
PBT142.3249.92185
NP315.4844.10615

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IFCI gets revision in credit ratings
Mar 01,2017

IFCI announced that ICRA has revised the long term ratings for IFCI and downgraded from ICRA A+ to ICRA A but the short term rating has been reaffirmed at ICRA A1+. The Outlook on the long term rating has been downgraded from Stable to Negative.

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Non-subsidized price of LPG cylinder has increased by Rs 86
Mar 01,2017

With effect from 1st March, 2017, non-subsidized price of LPG cylinder has increased by Rs 86. This is in line with the rise in global LPG product prices. However, there will be no impact on the LPG consumers receiving subsidized refills. To illustrate with an example, the consumer will pay Rs.737 for a new refill in Delhi w.e.f. 1st March, 2017 and will receive subsidy amount of Rs.303 in his/ her account and the net price for the consumer will be Rs.434, which remains unchanged. Thus, there will be no net impact of the increase in price of non-subsidized cylinder on the LPG consumers receiving subsidized refills.

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HPCL drops after turning ex-dividend
Mar 01,2017

Before turning ex-dividend, the stock offered a dividend yield of 4.1% based on the closing price of Rs 537.80 yesterday, 28 February 2017.

Meanwhile, the S&P BSE Sensex was up 200.06 points, or 0.7%, to 28,943.38.

On the BSE, 2.19 lakh shares were traded in the counter so far, compared with average daily volume of 2.18 lakh shares in the past one quarter. The stock had hit a high of Rs 526.50 and a low of Rs 511.50 so far during the day. The stock had hit record high of Rs 584.45 on 14 February 2017. The stock had hit a 52-week low of Rs 214.66 on 29 February 2016.

The stock had underperformed the market over the past one month till 28 February 2017, rising 0.43% compared with 3.09% gains in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 11.84% as against Sensexs 9.08% rise.

The large-cap company has an equity capital of Rs 1015.88 crore. Face value per share is Rs 10.

HPCLs net profit rose 52.7% to Rs 1590.31 crore on 12.9% rise in net sales to Rs 48485.57 crore in Q3 December 2016 over Q3 December 2015.

HPCL is a public sector oil marketing company. The Government of India held 51.11% stake in HPCL as per the shareholding pattern as on 31 December 2016.

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Prism Cement gains after successfully bidding in auction of coal linkages
Mar 01,2017

The announcement was made after market hours yesterday, 28 February 2017.

Meanwhile, the S&P BSE Sensex was up 210.73 points, or 0.73%, to 28,954.05.

On the BSE, 1.72 lakh shares were traded on the counter so far as against the average daily volumes of 1.17 lakh shares in the past one quarter. The stock had hit a high of Rs 103.50 and a low of Rs 100.20 so far during the day.

The stock had hit a 52-week high of Rs 118.45 on 23 August 2016 and a 52-week low of Rs 61.40 on 29 February 2016. The stock had underperformed the market over the past one month till 28 February 2017, sliding 0.31% compared with the Sensexs 3.09% rise. The scrip had also underperformed the market over the past one quarter advancing 4.44% as against the Sensexs 9.08% rise.

The mid-cap company has equity capital of Rs 503.36 crore. Face value per share is Rs 10.

Prism Cement announced that the company has successfully bid for 18,300 tonne per annum of coal from South Eastern Coalfields, a subsidiary of Coal India (CIL), in a recently held auction of coal linkages for the cement industry. The company has secured part fuel requirement for the next five years, Prism Cement said. The allocation by CIL has been made at a nominal premium over the floor price, the company said. This, alongwith the earlier coal linkage of 120,000 tonne per annum, constitutes about 25% of the companys annual fuel requirement, it said. The company is yet to receive the allotment letter, it added.

Prism Cement reported net loss of Rs 47.02 crore in Q3 December 2016, as compared to net loss of Rs 15.22 crore in Q3 December 2015. Net sales fell 9.2% to Rs 1134.54 crore in Q3 December 2016 over Q3 December 2015.

Prism Cement is an integrated building materials company, with a wide range of products from cement, ready-mixed concrete, tiles, bath products to kitchens. The company has three divisions, viz. Prism Cement, H & R Johnson (India) and RMC Readymix (India).

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India Tourism Development Corporation announces change in directorate
Mar 01,2017

India Tourism Development Corporation announced that pursuant to order of Ministry of Tourism Government of India Umang Narula, IAS Chairman & Managing Director ITDC stands relieved from his duties in ITDC w.e.f. 28 February 2017. The Ministry has approved that the additional charge of the post of Chairman & Managing Director of ITDC has been entrusted to Piyush Tiwari, Director Commercial & Marketing ITDC, for a period of three months w.e.f. 01 March 2017 or until further orders, whichever is earlier.

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Maruti inches up on good sales growth in February
Mar 01,2017

The announcement was made during market hours today, 1 March 2017.

Meanwhile, the S&P BSE Sensex was up 223.58 points or 0.78% at 28,966.90.

On the BSE, 18,000 shares were traded on the counter so far as against the average daily volumes of 61,626 shares in the past one quarter. The stock had hit a high of Rs 5,997 and a low of Rs 5,938.45 so far during the day.

The stock had hit a record high of Rs 6,230.30 on 8 February 2017 and a 52-week low of Rs 3,202.10 on 29 February 2016. It had underperformed the market over the past one month till 28 February 2017, gaining 0.02% compared with the Sensexs 3.09% rise. The scrip had, however, outperformed the market over the past one quarter, advancing 20.95% as against the Sensexs 9.08% rise.

The large-cap company has equity capital of Rs 151.04 crore. Face value per share is Rs 5.

The companys total domestic sales rose 11.7% to 1.20 lakh units in February 2017 over February 2016. Exports grew by 2.2% to 9,545 units in February 2017 over February 2016.

Maruti Suzuki Indias net profit rose 47.5% to Rs 1744.50 crore on 12.4% growth in net sales to Rs 16623.60 crore in Q3 December 2016 over Q3 December 2015.

Maruti Suzuki India is Indias biggest car maker in terms of market share. Japanese parent Suzuki Motor Corporation currently holds 56.21% stake in Maruti (as per the shareholding pattern as on 31 December 2016).

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Maruti Suzuki India announces sales figures
Mar 01,2017

Maruti Suzuki India reported total sales of 130280 units in February 2017 compared to 117451 units in February 2016, recording a growth of 10.9%.

Total sales includes domestic sales of 120735 units and export of 9545 units in February 2017, recording a growth of 11.7% and 2.2% respectively over February 2016.

For the period April- February 2017, total sales stood at 1428840 units, higher by 9.9% over the corresponding period of previous year.

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D-Link gains after subsidiary enters into pact with D-link Corp
Mar 01,2017

The announcement was made after market hours yesterday, 28 February 2017.

Meanwhile, the BSE Sensex was up 229.44 points, or 0.80%, to 28,970.46.

On the BSE, 8,081 shares were traded in the counter so far, compared with average daily volumes of 1.72 lakh shares in the past one quarter. The stock had hit a high of Rs 128 and a low of Rs 124.40 so far during the day. The stock had hit a 52-week high of Rs 141 on 8 March 2016. The stock had hit a 52-week low of Rs 75.25 on 21 September 2016.

The stock had underperformed the market over the past one month till 28 February 2017, sliding 1.36% compared with 3.09% gains in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 47% as against Sensexs 9.08% rise.

The small-cap company has equity capital of Rs 7.10 crore. Face value per share is Rs 2.

D-Link Corp, promoter of D-Link India and TeamF1 Networks (TeamF1), a subsidiary of D-Link India announced their partnership in delivering mydlink Business, a cloud-based device management platform featuring ease, value, and scalability for small and medium-sized businesses (SMB). TeamF1 Networks is a leader in embedded networking and security software solutions for wired and wireless applications.

The business cloud platform is specifically designed to suit the operation and workflow models of system integrators (SI), value-added resellers (VAR), and telcos/ISPs.

Mydlink Business and DBA-1210P are available for sampling in May 2017 and scheduled to be generally available in the beginning of Q3 December 2017, it added.

D-Link Indias net profit rose 27.8% to Rs 9.10 crore on 7.48% decline in net sales to Rs 186.69 crore in Q3 December 2016 over Q2 September 2016.

D-Link India is engaged in the design, manufacture and marketing of advanced networking, broadband, digital, voice and data communications solutions.

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Amtek Auto to hold EGM
Mar 01,2017

Amtek Auto announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 25 March 2017.

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Future Lifestyle Fashions to hold EGM
Mar 01,2017

Future Lifestyle Fashions announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 24 March 2017.

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Metalyst Forgings to hold EGM
Mar 01,2017

Metalyst Forgings announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 23 March 2017.

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Moodys rated J&Js notes Aaa; stable outlook
Mar 01,2017

Moodys Investors Service (Moodys) assigned a rating of Aaa to the new senior unsecured note offering of Johnson & Johnson (J&J). There are no changes to J&Js existing ratings including the Aaa senior unsecured rating and the Prime-1 short-term rating. The rating outlook is stable.

Proceeds of the note offering are for general corporate purposes including debt repayment.

Ratings assigned:

Senior unsecured shelf registration at P(Aaa)

Senior unsecured notes in multiple tranches at Aaa

RATINGS RATIONALE

J&Js Aaa rating reflects the companys large scale and market presence, its excellent product and geographic diversity, and its strong profit margins. New approvals and drugs launched in the past few years in the pharmaceutical segment now represent the foundation and driver of near-term growth for J&J as a whole. Over time, Moodys anticipates a greater balance of growth between pharmaceuticals and J&Js Medical Devices and Consumer Products segments. Based on J&Js long-held conservative financial policies, Moodys expects continuation of robust credit metrics including debt/EBITDA at or around 1.25 times, while also maintaining high levels of cash. Offsetting these strengths, J&J faces slow growth in economically-sensitive product areas, challenging macroeconomic and regulatory conditions and litigation risks. Growth in the pharmaceutical business will decelerate with several patent expirations and the recent launch of a Remicade biosimilar, but the Actelion deal will help J&J maintain solid momentum in pharmaceuticals.

The rating outlook is stable, reflecting Moodys expectations for solid operating performance and the benefits of excellent diversity. The stable outlook also reflects Moodys expectation that J&J will manage conservative financial policies including high cash levels.

Factors that could lead to a downgrade include material debt-financed acquisitions or share repurchases, divestitures of major business divisions, significant product quality issues, recalls, or litigation. In addition, Moodys could downgrade the ratings if J&J alters its financial policies such that debt/EBITDA is sustained materially above 1.25 times or CFO/debt below 60% in the absence of a significant increase in cash holdings.

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Premco Global to hold EGM
Mar 01,2017

Premco Global announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 25 March 2017.

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Castex Technologies to hold EGM
Mar 01,2017

Castex Technologies announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 25 March 2017.

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Eastern Gases to hold EGM
Mar 01,2017

Eastern Gases announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 30 March 2017.

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