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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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Dhanuka Agritech fixes record date for buyback of shares
Jan 03,2017

Dhanuka Agritech has fixed 13 January 2017 as the Record Date for the purpose of Buyback of Equity Shares.

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IL&FS Investment Managers completes acquisition of 86.61% of IL&FS Infra Asset Management
Jan 03,2017

IL&FS Investment Managers announced that subsequent to Securities and Exchange Board of India approval, the Company has acquired 86.61% stake of IL&FS Infra Asset Management and 100% stake of IL&FS AMC Trustee, in order to acquire the Infrastructure Debt Fund (IDF) business from IL&FS Financial Services.

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Board of JSW Holdings to consider Q3 results
Jan 03,2017

JSW Holdings announced that a meeting of the Board of Directors of the Company will be held on 23 January2017, inter alia, to consider, approve and take on record the Unaudited Financial Results (Provisional) of the Company for the Quarter and nine months ended on 31 December 2016 (Q3).

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NMDC fixed prices of Iron Ore
Jan 03,2017

NMDC has fixed the prices of Iron Ore with effect from 03 January 2017 as follows -

Lump Ore @ Rs 2225/- WMT
Fines @ Rs 1985/- WMT

Note - The above FOR prices are excluding Royalty, DMF, NMET, Cess, Forest Permit Fee etc.

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Board of TVS Electronics to approve December quarter results
Jan 03,2017

TVS Electronics announced that a meeting of the Board of Directors of the Company is scheduled to be held on 10 February 2017, inter alia, to consider and approve the Unaudited Financial Results of the Company for the quarter ended 31 December 2016.

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Board of Indag Rubber to consider Q3 and 9M results
Jan 03,2017

Indag Rubber announced that the meeting of the Board of Directors is scheduled to be held on 12 January 2017, to consider the financial results for the quarter and nine months ended 31 December 2016.

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Agenda of board meeting of Rachana Capital & Securities
Jan 03,2017

Rachana Capital & Securities announced the Board Meeting of the Company will be held on 10 January 2017, to consider the following:

1. New Name and Article of Association of the Company as per Companies Act, 2013.

2. Change of Main Object Clause of the Company to consider new business activities.

3. Appointment of New Company Secretary and Compliance Officer of the Company.

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EIH to announce Q3 and 9M results
Jan 03,2017

EIH announced that a meeting of the Board of Directors of the Company will be held on 23 January 2017, to approve the Unaudited Financial Results for the Quarter /Nine Months ended on 31 December 2016.

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RBI issues additional steps for Allocation of cash for rural areas
Jan 03,2017

On observing that bank notes, being supplied to rural areas, at present, are not commensurate with the requirements of rural population, and with a view to ensure that at least 40% bank notes are supplied to rural areas and to mitigate the issue in a more enduring manner, the banks maintaining currency chests are advised to take the following additional steps:

Distribution Channels and Proportion of currency flow

i. Banks should advise their currency chests to step up issuance of fresh notes to rural branches of RRBs, DCCBs and commercial banks, White Label ATMs in rural areas and post offices in rural areas on priority basis which are considered main rural channels of distribution.

ii. As the rural requirements could vary from district to district depending on variations in the rural and urban mix of each district in terms of relative shares in CASA deposits and number of deposit accounts, to facilitate a need based approach in this regard a certain percentage of allocation has been assigned to each district as per Annex 1 depending on the rural and urban mix.

iii. Accordingly, all Chests operating in a district must issue bank notes to the above mentioned distribution channels in the indicated proportion. The indicated proportion may be maintained on weekly average basis at each chest level as it may be difficult to stick to the proportion on daily basis.

Reporting for monitoring

iv. Currency chests must furnish daily issuances to the above categories to their Link Offices (LO) along with chest slips with a weekly summary as at close of business on every Friday. LOs should in turn forward it to the RBIs Regional Office concerned (reporting format annexed) to facilitate a review. It may be similar to the chest balances reporting mechanism. LOs may monitor the daily reports to avoid lumpiness in issuances and to ensure that issuances are evenly.

Denominational mix

v. Chests should issue bank notes in denominations of ₹ 500 and below. In particular ATMs, including WLAOs, may be issued ₹ 500s and ₹ 100s and among ATMs category, Off-site ATMs should be allocated higher proportion of cash as against on site ATMs as they are more important in last mile currency connectivity.

vi. Existing stock of other denominations notes below ₹ 100 should be issued liberally.

vii. Banks should indent for coins, obtain supply from Issue Departments of Reserve Bank of India, if required, and ensure supply to public on priority basis.

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Inditalia Refcon reports standalone net loss of Rs 0.05 crore in the December 2016 quarter
Jan 03,2017

Net Loss of Inditalia Refcon reported to Rs 0.05 crore in the quarter ended December 2016 as against net loss of Rs 0.03 crore during the previous quarter ended December 2015. There were no Sales reported in the quarter ended December 2016 and during the previous quarter ended December 2015.

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Yes Bank gains on implementing multi-nodal Blockchain solution
Jan 03,2017

The announcement was made during market hours today, 3 January 2017.

Meanwhile, the S&P BSE Sensex was up 45.06 points or 0.17% at 26,640.51.

On the BSE, 1.42 lakh shares were traded on the counter so far as against the average daily volumes of 2.29 lakh shares in the past one quarter. The stock had hit a high of Rs 1,172.25 and a low of Rs 1,140.75 so far during the day.

The stock had hit a record high of Rs 1,450 on 7 September 2016 and a 52-week low of Rs 632.25 on 20 January 2016. It had underperformed the market over the past one month till 2 January 2017, sliding 0.52% compared with the Sensexs 1.39% rise. The scrip had also underperformed the market over the past one quarter declining 8.79% as against the Sensexs 4.56% fall.

The large-cap private sector bank has equity capital of Rs 422.98 crore. Face value per share is Rs 10.

Yes Bank said it has put in place a detailed roadmap on commercialising Blockchain based banking solutions in India and is exploring use cases for implementation towards letter of credit and documentary collections, foreign remittances and partnering with correspondent banks for trade finance among others.

Yes Banks net profit rose 31.3% to Rs 801.54 crore on 24.7% rise in total income to Rs 4982.23 crore in Q2 September 2016 over Q2 September 2015.

Yes Bank is one of the leading private sector banks in India.

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HPCL gains on buzz of investment plans in city gas distribution
Jan 03,2017

Meanwhile, the S&P BSE Sensex was up 77.28 points, or 0.29%, to 26,679.29.

On the BSE, 2.33 lakh shares were traded in the counter so far, compared with average daily volume of 2.43 lakh shares in the past one quarter. The stock had hit a high of Rs 467.90 and a low of Rs 448.75 so far during the day.

HPCL has three city gas distribution joint ventures: Aavantika Gas Ltd, Bhagyanagar Gas Ltd and Godavari Gas Ltd.

HPCL reported net profit of Rs 701.32 crore in Q2 September 2016 compared with net loss of Rs 317.13 crore in Q2 September 2015. HPCLs net sales was flat at Rs 42030.64 crore in Q2 September 2016 over Q2 September 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 30 September 2016.

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Foreign brokerage buy rating boosts Bharat Electronics
Jan 03,2017

Meanwhile, the S&P BSE Sensex was up 104.16 points or 0.39% at 26,699.61.

On the BSE, 1.18 lakh shares were traded on the counter so far as against the average daily volumes of 32,215 shares in the past one quarter. The stock had hit a high of Rs 1,424 and a low of Rs 1,368 so far during the day.

The stock had hit a record high of Rs 1,540 on 9 December 2016 and a 52-week low of Rs 1,009 on 1 March 2016. It had underperformed the market over the past one month till 2 January 2017, sliding 3.69% compared with the Sensexs 1.39% rise. The scrip had, however, outperformed the market over the past one quarter surging 9.74% as against the Sensexs 4.56% fall.

The large-cap company has equity capital of Rs 223.36 crore. Face value per share is Rs 10.

The brokerage expects a 15% earnings growth for Bharat Electronics over FY 2016-19.

Bharat Electronics net profit rose 68.2% to Rs 346.25 crore on 15.1% growth in net sales to Rs 1755.89 crore in Q2 September 2016 over Q2 September 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 held 74.41% stake in Bharat Electronics (as per the shareholding pattern as on 4 November 2016).

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Pincon Spirit on a high after fund raising plans
Jan 03,2017

The announcement was made during market hours today, 3 January 2017.

Meanwhile, the BSE Sensex was up 114.73 points, or 0.43%, to 26,710.18.

On the BSE, 1.75 lakh shares were traded in the counter so far, compared with average daily volume of 1.34 lakh shares in the past one quarter. The stock had hit a high of Rs 65.90 and a low of Rs 63.60 so far during the day. The stock had hit a record high of Rs 89.40 on 25 July 2016. The stock had hit a 52-week low of Rs 50 on 12 February 2016.

The stock had underperformed the market over the past one month till 2 January 2017, gaining 1.36% compared with Sensexs 1.39% rise. The scrip had also underperformed the market in past one quarter, falling 12.34% as against Sensexs 4.56% decline.

The small-cap liquor maker has equity capital of Rs 44.09 crore. Face value per share is Rs 10.

Pincon Spirits net profit jumped 61.9% to Rs 9.44 crore on 34.6% rise in net sales to Rs 308.90 crore in Q2 September 2016 over Q2 September 2015.

Pincon Spirit is a liquor company. The company is engaged in carrying on the business of blending, bottling and wholesale distribution of Indian made foreign liquor (IMFL) and Indian made Indian liquor (IMIL). In the FMCG space, the company is engaged in the manufacture of edible oils.

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Ind-Ra: Demonetisation to Derail Cement Sector Growth
Jan 03,2017

Demonetisation to derail the growth of the cement sector says India Ratings and Research (Ind-Ra). Cement production is likely to grow by around 4% in FY17; the agency earlier estimated 4%-6% growth for FY17. Ind-Ra expects the credit profile of pan India cement players and strong regional players to remain stable; however the credit profile of small and medium cement companies, with high debt levels will come under stress in the next two quarters.

Ind-Ra had highlighted that the impact of this policy measure will flow to the economy mainly through the real estate/construction sector, which has strong linkages with sectors such as cement and steel and they will turn credit negative in the short-run.

The lower cement output for FY17 is expected due to the fall in production of the sector in the month of November-December 2016. Cement production has grown by 4.3% during April-November 2016 and it recorded a growth of 0.5% in November 2016 (October:6.2%, September:5.5%).

The agency notes that post demonetisation all India volumes declined in the range of 20%-25% in November-December 2016; while pan-India realisations have declined in the range of INR15/bag-INR20/bag in the same period.

Pet coke which is a key raw material for the sector has shown an upward movement in prices to around USD60-USD70 per tonne from USD40 per tonne at the beginning of the financial year. The rise in pet coke prices coupled with increase in diesel prices is likely to increase power, fuel and freight costs for companies. The higher input cost and lower demand is expected to limit the ability of cement manufacturers to pass on the higher prices to the end consumers, thus potentially squeezing margins.

Ind-Ra expects that post demonetisation, demand from the housing sector (contributes around 65% cement demand) is likely to declined further. The demand from individual home builders (which mainly consists of farmers) are expected to increase in FY17, due to a better monsoon; however post demonetisation Ind-Ra expects that cash availability with individual home builders will also be limited.

Ind-Ra believes that the working capital cycle for cement companies is likely to increase (most cement companies are net working capital negative) due to the likely additional credit given to dealers, as most of dealers have shifted to digital payments.

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