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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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Dilip Buildcon acquires 100% share of Bhavya Infra & Systems
Mar 07,2017

Dilip Buildcon announced that the Company has acquired 100 % equity shares of Bhavya Infra & Systems. By the virtue of the said acquisition Bhavya Infra & Systems has become a wholly owned subsidiary of the Company.

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Hero MotoCorp fixes record date for interim dividend
Mar 07,2017

The Board of Hero MotoCorp has fixed 18 March 2017 as record date for determining entitlement of members for the purpose of payment of interim dividend. The payment of interim dividend /dispatch of dividend warrants will be completed by 05 April 2017

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Geometric fixes record date for scheme of amalgamation
Mar 07,2017

Geometric has fixed Record Date as 15 March 2017 for the purpose of For determining the shareholders of the Company to whom shares of HCL and 3D PLM will be allotted.

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Veronica Production fixes record date for consolidation of equity shares
Mar 07,2017

Veronica Production has fixed 24 March 2017 as a Record Date for the purpose of Consolidation of equity shares (Face value from Re. 1/- to Rs. 10/- per equity share).

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33% Sub Quota for Women in Allotment of each Category of minor Catering Units at All Category of stations
Mar 07,2017

Minister of Railways Shri Suresh Prabhakar Prabhu has recently launched New Catering Policy 2017, while there are many new features in the new Catering policy, special provisions for women have also been made in it.

Under this policy, a Sub Quota of 33% for women in allotment of each of the reserved catering units is being introduced on Indian Railways in order to extend economic empowerment for women. It is also in compliance with the announcement made in Railway Budget 2016-17.

Current Status of Reservation at Minor Catering Units (Stalls / Trolleys / Khomchas):

a) A1, A, B, and C Category stations - 25% of the Units are reserved for various categories like SC (6%), ST (4%), BPL (3%), OBC (3%), Minorities (3%), Freedom Fighters (4%) and Physically Challenged persons (2%).

b) D, E and F Category stations - 49.5% of the Units are reserved for various categories like SC (12%), ST (8%), OBC (20%) and Minorities (9.5%).

n++ 33% sub quota for women in allotment of each category of minor catering units at all category of stations has been provided. 33% sub quota reservation for women in each category shall ensure allotment of minimum 8% stalls to women at A1, A, B & C category station and minimum 17% at D, E and F category station.

n++ There are approximately 8000 Minor Catering Units over Indian Railways.

n++ Under this provision, Railways shall ensure that women participation does not fall below a specific level.

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Fraser and Company appoints company secretary and compliance officer
Mar 07,2017

Fraser and Company announced that the Board of Directors of the Company at their meeting held on Tuesday, 07 March 2017, inter-alia, appointed Vijay M. Thakkar, as a Company Secretary and Compliance Officer of the Company w.e.f. 07 March 2017.

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Resonance Specialities director resigns
Mar 07,2017

Resonance Specialities has received the resignation of Gurpur Ganesh Pai from the post of Director of the Company on 06 March 2017.

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Cyient completes acquisition of CERTON Software
Mar 07,2017

Cyient, through its wholly owned US subsidiary, Cyient Inc., has acquired 100% ownership of CERTON Software Inc. on 07 March 2017. Cyient has earlier announced a definitive agreement to acquire CERTON on 24 January 2017.

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Jindal Stainless shines after bulk deal
Mar 07,2017

Meanwhile, the BSE Sensex was down 48.63 points, or 0.17%, to 28,999.56

Bulk deal boosted volume on the scrip. On BSE, so far 23.76 lakh shares were traded in the counter, compared with average daily volume of 1.79 lakh shares in the past one quarter. The stock hit a high of Rs 62.10 and a low of Rs 58.85 so far during the day.

The stock had outperformed the market over the past 30 days till 6 March 2017, rising 15.01% compared with 2.86% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 58.38% as against Sensexs 10.06% gain.

The small-cap company has equity capital of Rs 79.89 crore. Face value per share is Rs 2.

Jindal Stainless reported net profit of Rs 40.43 crore in Q3 December 2016, compared with net loss of Rs 191.25 crore in Q3 December 2015. Net sales rose 29.82% to Rs 2092.17 crore in Q3 December 2016 over Q3 December 2015.

Jindal Stainless is engaged in manufacturing of stainless steel.

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Shreyas Shipping & Logistics sells M.V. SSL Trust
Mar 07,2017

Shreyas Shipping & Logistics announced that the Company has sold M.V. SSL Trust for a consideration of USD 1.99 million.

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Sundaram Multi Pap appoints company secretary and compliance officer
Mar 07,2017

Sundaram Multi Pap announced the appointment of Bhavesh Chheda as Company Secretary and Compliance Officer of the Company at board meeting held on 07 March 2017

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Speciality Restaurants opens Sweet Bengal confectionery store
Mar 07,2017

Speciality Restaurants has opened a new Sweet Bengal confectionery located at Shop No. 54, situated on Plot No.73 at Ground Floor of The Welfare Chamber Co-Op Housing Society Ltd., Sector 17, Vashi, Navi Mumbai - 400703 with effect from 07 March 2017. Accordingly, as of the date of this letter, the total number of restaurants and confectionaries of the Company are 105 (including 24 franchise restaurants) and 19 respectively.

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Board of DCB Bank approves raising capital by issue of share to QIBs
Mar 07,2017

DCB Bank announced that the Board of Directors of the Bank, in the meeting held on Tuesday, 07 March 2017, has approved: (i) Raising of capital by way of issue of Equity Shares to Qualified Institutional Buyers to the extent of Rs. 400 crore inclusive of share premium; (ii) Change in place of keeping and inspection of registers, returns etc.; and (iii) Seeking approval of Members of the Bank for the aforesaid through Postal Ballot / remote e-voting and authorising Chairman, MD & CEO and other officials of the Bank to do all such acts, deeds and things as may be necessary. Accordingly, the Bank is conducting a Postal Ballot for seeking the approval of the Members for the item nos.(i) and (ii) above.

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NMDC fixes record date for 1st interim dividend
Mar 07,2017

NMDC has fixed 18 March 2017 as record date for the purpose of payment of first interim dividend for the financial year 2016-17.

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Fitch: Global Growth Shows Resilience to Political Uncertainty
Mar 07,2017

The near-term outlook for growth in the advanced countries has improved despite persistent political uncertainties says Fitch Ratings in its latest Global Economic Outlook (GEO).

Robust labour markets and consumer spending, more supportive fiscal policies and the stabilisation in emerging markets helped advanced country growth recover in the second half of 2016, said Brian Coulton, Chief Economist, Fitch. Furthermore, a synchronised improvement in manufacturing business surveys across the advanced countries suggests growth momentum has continued into early 2017.

Advanced country growth is expected to pick up to 1.9% in 2017 and 2% in 2018 from 1.6% in 2016. The acceleration is led by the US, with growth in the eurozone and Japan expected to remain broadly stable. Fitchs latest forecast changes include upward revisions to 2017 growth of 0.3pp for the eurozone and the UK, 0.2pp for Japan and an upward revision of 0.3pp for 2018 for the US.

While there is genuine upside to the near-term outlook - stemming primarily from a faster-than-expected easing of US fiscal policy and the possibility of animal spirits sparking a more rapid US private investment recovery - downside risks also loom large, added Mr. Coulton.

An aggressive pursuit of protectionist trade polices by the new US administration could spark retaliation and global currency volatility, undermining business confidence. Longer term, if the US were to shift to a more producer-focussed or mercantilist model, with the aim of permanently shrinking trade deficit, it is hard to see who else would step in to fill the gap in global demand. Ultimately, the US has been the worlds consumer of last resort for decades with many countries economies geared to supplying US demand.

In the eurozone, the re-emergence of concerns about fragmentation of the currency-bloc could result in tighter credit conditions and significantly reduced growth. In a more severe scenario, where an overtly anti-EU leader were to cement a strong majority in a major eurozone country the macro disruption could be highly damaging.

The linkages from political uncertainty to economic growth are never straightforward, but for now we are looking at a synchronised improvement in the macro outlook across the advanced countries, Mr. Coulton continued.

Improving growth prospects and increased fiscal policy support are moving the world economy further away from the scenario of never-ending quantitative easing by the major central banks. Fitch now expects the US Fed to raise rates three times this year (up from two hikes in Fitchs November forecast) and by a total of seven times over 2017 and 2018. This is in stark contrast to just two hikes over the previous eight years.

The European Central Bank (ECB) remains resolute in providing additional monetary stimulus at this juncture but they are facing increased communication challenges as headline inflation rates rise. There are also some signs that previous monetary stimulus may be gaining a little more traction on the real economy, with a further pick-up in private credit growth in core eurozone countries and a buoyant real estate market in Germany. ECB asset purchases are likely to be continued in line with the forward guidance provided by the ECB at last Decembers meeting but we expect them to be phased out through the first half of 2018.

The Bank of Japan (BOJ) has held short-term interest rates steady at -0.1% and we no longer expect further cuts into more negative territory. The yen has weakened significantly since our November GEO and the BOJ has become somewhat more optimistic on the growth outlook.

Emerging market growth is expected to rise to 4.7% this year, up from just over 4% in 2015 and 2016. This reflects the return to modest positive growth rates in Russia and Brazil. However, EM growth prospects are slightly weaker than previously forecast, with downward revisions to Mexico, Turkey and Brazil. There are also signs of a shift in the policy stance in China. Following the success of the stimulus measures rolled out from late 2015 in supporting growth, the Chinese authorities have recently shifted focus towards trying to start to address the problem of rapidly rising leverage. The cuts in official interest rates that we previously expected in 2017 no longer seem likely. This change of emphasis has come a little earlier than expected and is likely to result in some sequential slowing of growth later this year. Our 2017 growth forecast for China has been edged down slightly to 6.3%.

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