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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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Bata India gains after introducing VRS at Faridabad unit
Dec 21,2016

The announcement was made during trading hours today, 21 December 2016.

Meanwhile, the BSE Sensex was up 67.82 points, or 0.26%, to 26,375.80

On the BSE, 24,000 shares were traded on the counter so far as against the average daily volumes of 46,651 shares in the past one quarter. The stock had hit a high of Rs 429.30 and a low of Rs 423 so far during the day.

The stock hit a 52-week high of Rs 613.55 on 1 August 2016. The stock hit a 52-week low of Rs 400 on 25 November 2016. The stock had underperformed the market over the past 30 days till 20 December 2016, rising 0.69% compared with the 2.11% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 17.55% as against Sensexs 7.72% decline.

The mid-cap company has equity capital of Rs 64.26 crore. Face value per share is Rs 5.

Bata India said that companys board of directors at its meeting held today, 21 December 2016 considered and approved introduction of a voluntary retirement scheme (VRS) for all eligible employees/ workers at its Faridabad unit. The status of implementation of VRS and financial impact thereof will be ascertained and communicated in due course. The company believes that implementation of the VRS will be beneficial for it in the long term, Bata India said.

Bata Indias net profit fell 36.37% to Rs 34.59 crore on 2.98% fall in total income to Rs 597.82 crore in Q2 September 2016 over Q2 September 2015.

Bata India is the largest footwear retailer in India, offering footwear, accessories and bags across brands like Bata, Hush Puppies, Naturalizer, Power, Marie Claire, Weinbrenner, North Star, Scholl, Bata Comfit and Bubblegummers to name a few. It retails in over 1,265 Bata stores, on bata.in and in thousands of multi-brand footwear dealer stores pan-India.

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Muthoot Finance gains on bargain hunting
Dec 21,2016

Meanwhile, the S&P BSE Sensex was up 61.58 points, or 0.23%, to 26,369.56

On the BSE, 44,000 shares were traded on the counter so far as against the average daily volumes of 74,846 shares in the past one quarter. The stock had hit a high of Rs 277.70 and a low of Rs 264 so far during the day.

The stock hit a 52-week high of Rs 405.35 on 8 August 2016. The stock hit a 52-week low of Rs 170 on 18 January 2016. The stock had underperformed the market over the past 30 days till 20 December 2016, falling 7.69% compared with the 2.11% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 26.55% as against Sensexs 7.72% decline.

The large-cap company has an equity capital of Rs 399.05 crore. Face value per share is Rs 10.

Muthoot Finances net profit rose 70.04% to Rs 296.72 crore on 21.61% increase in total income to Rs 1386.24 crore in Q2 September 2016 over Q2 September 2015.

Muthoot Finance is the largest gold financing company in India in terms of loan portfolio.

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RCom spurts after signing tower sale agreement with Brookfield Infra
Dec 21,2016

The announcement was made during trading hours today, 21 December 2016.

Meanwhile, the BSE Sensex was up 22.96 points, or 0.09%, to 26,330.94.

On the BSE, so far 40.11 lakh shares were traded in the counter, compared with average daily volumes of 16.09 lakh shares in the past one quarter. The stock had hit a high of Rs 38.50 and a low of Rs 35.50 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 34.35 on 24 November 2016. The stock had underperformed the market over the past 30 days till 20 December 2016, falling 4.37% compared with the 2.11% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 26.67% as against Sensexs 7.72% decline.

The mid-cap company has equity capital of Rs 1,244.49 crore. Face value per share is Rs 5.

Reliance Communications (RCom) announced the signing of binding agreements with Brookfield Infrastructure in relation to the acquisition of RComs nationwide tower assets by affiliates of Brookfield Infrastructure Partners LP and its institutional partners. RCom will receive an upfront cash payment of Rs 11000 crore on completion of the transaction.

RComs telecom towers will be demerged into a separate new company that will be 100% owned and independently managed by Brookfield Infrastructure, thereby creating the second largest independent and operator-neutral towers company in India.

RCom said it will receive Class B non-voting shares in the new tower company, providing 49% future economic upside in the towers business, based on certain conditions. RCom expects significant future value creation from the B Class shares, based on growth in tenancies arising from increasing 4G rollout by all telecom operators and fast accelerating data consumption.

RCom will enjoy certain information and other rights, but will not be involved directly or indirectly in the management and operations of the new company. RCom and Reliance Jio will continue as major long term tenants of the new tower company, along with other existing third party telecom operators.

RCom said it will utilise the upfront cash payment of Rs 11000 crore solely to reduce its debt. The already announced combination of RComs wireless business with Aircel, and the monetization of the tower business, will together reduce RComs overall debt by Rs 31000 crore, or nearly 70% of existing debt. RCom will continue to hold 50% stake in the wireless business combination with Aircel and the 49% future economic upside in the towers business, and will monetise these valuable assets at an appropriate time in the future to further substantially reduce its overall debt.

The transaction is subject to applicable approvals, including inter alia, shareholder and regulatory approvals, lenders consents, etc.

Meanwhile, RCom) announced after market hours yesterday, 20 December 2016, that Fitch Ratings (Fitch), International rating agency, has revised the companys long-term foreign, local currency issuer default ratings and senior secured notes (Notes) ratings from BB- to B+. Fitch has also placed on rating watch negative and assigned a recovery rating of RR4 to the notes.

On a consolidated basis, net profit of Reliance Communications declined 80% to Rs 39 crore on 3.36% decline in net sales to Rs 5090 crore in Q2 September 2016 over Q2 September 2015.

RCom is an integrated telecommunications service provider.

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Outcome of board meeting of Indo Thai Securities
Dec 21,2016

Indo Thai Securities announced that the Board of Directors of the company at its meeting held on 21 December 2016 approved the following business -

Application to BSE to obtain Registration for Mutual Fund Distribution.

Authorisation to execute undertaking cum indemnity for hosting servers at third party data center(s)

Applying to the stock exchange for the approval of trading software of the Company.

Other business arsing out of above business and incidental and ancillary to the Companys business.

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Super Crop Safe gets license to manufacture and supply Spirulina
Dec 21,2016

Super Crop Safe announced that the Company has received from FSSAI (Food Safety and Standards Authority of India) License no: 10716009000385 issued on 16 December 2016 and valid till 15 December 2019 after successful inspection of manufacturing facilities of Spirulina and Compliance with the requirement of the FSSAI (Food Safety and Standards Authority of India). This will facilitate the Company to expand market of Spirulina and its product mix in domestic as well as international market.

Post this certification, SCSL will be able to garner additional business for its Spirulina based products in world market. This certification will help SCSL to build and sustained the growth by its Spirulina Business in coming years, by exploring the higher value added high margin market.

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Board of Bata India approves VRS for Faridabad Unit
Dec 21,2016

Bata India announced that at the Board Meeting of the Company held on 21 December 2016, the Board considered and approved introduction of a Voluntary Retirement Scheme (VRS) for all eligible employees/ workers at the Faridabad Unit of the Company.

Status of implementation of the aforesaid VRS and financial impact thereof will be ascertained and communicated in due course. The Company believes that implementation of the VRS will be beneficial to the Company in the long term.

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Welterman International announces resignation of director
Dec 21,2016

Welterman International announced that Madhavi H. Punjani, has resigned from her position as Independent Director from the Company w.e.f. 15 December 2016.

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Amal to consider Q3 and 9M results
Dec 21,2016

Amal announced that a meeting of Board of Directors of the Company will be held on 12 January 2017, to consider and approve the un-audited Financial Results of the Company for the quarter / nine months ended on 31 December 2016.

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Volumes jump at Coffee Day Enterprises counter
Dec 21,2016

Coffee Day Enterprises clocked volume of 11.03 lakh shares by 12:48 IST on BSE, a 163.99-times surge over two-week average daily volume of 7,000 shares. The stock rose 3.32% to Rs 202.50.

UFO Moviez India notched up volume of 1.51 lakh shares, a 71.54-fold surge over two-week average daily volume of 2,000 shares. The stock rose 2.65% to Rs 418.45.

Welspun Corp saw volume of 65.57 lakh shares, a 66.11-fold surge over two-week average daily volume of 99,000 shares. The stock rose 6.24% to Rs 80. A large bulk deal of 58.78 lakh shares was executed on the scrip at Rs 80.70 per share in opening trade on BSE.

Gruh Finance clocked volume of 1.83 lakh shares, a 14.53-fold surge over two-week average daily volume of 13,000 shares. The stock shed 0.71% to Rs 314.45.

Cairn India saw volume of 10.33 lakh shares, a 9.02-fold rise over two-week average daily volume of 1.14 lakh shares. The stock rose 1.02% to Rs 253.70.

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RCOM signs binding agreements with Brookfield Infrastructure and its institutional partners
Dec 21,2016

Reliance Communications (RCOM) announced the signing of binding agreements with Brookfield Infrastructure in relation to the acquisition of RCOMs nationwide tower assets by affiliates of Brookfield Infrastructure Partners LP and its institutional partners.

RCOM will receive an upfront cash payment of Rs. 11,000 crore (US$ 1.6 billion) on completion of the transaction.

RCOM will also receive Class B non-voting shares in the new Tower company, providing 49% future economic upside in the Towers business, based on certain conditions. RCOM expects significant future value creation from the B Class shares, based on growth in tenancies arisingfrom increasing 4G rollout by all telecom operators and fast accelerating data consumption.

RCOMs telecom towers will be demerged into a separate new Company that will be 100% owned and independently managed by Brookfield Infrastructure, thereby creating the second largest independent and operator-neutral Towers company in India.

RCOM will enjoy certain information and other rights, but will not be involved directly or indirectly in the management and operations of the new Company.

RCOM and Reliance Jio will continue as major long term tenants of the new Tower company, along with other existing third party telecom operators.

RCOM will utilize the upfront cash payment of Rs. 11,000 crore (US$ 1.6 billion) solely to reduce its debt. The already announced combination of RCOMs wireless business with Aircel, and the monetization of the Tower business, will together reduce RCOMs overall debt by Rs. 31,000 crore (US$ 4.6 billion), or nearly 70% of existing debt.

RCOM will continue to hold 50% stake in the wireless business combination with Aircel and the 49% future economic upside in the towers business, and will monetise these valuable assets at an appropriate time in the future to further substantially reduce its overall debt.

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Pennar Industries to hike stake in subsidiary - Pennar Renewables
Dec 21,2016

Pennar Industries announced that as per the terms and understanding reached with the existing investors of the Companys subsidiary viz., Pennar Renewables, the final shareholding of Pennar Industries in Pennar Renewables will be 70%. This will be achieved in one or more transactions.

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Reliance Communications leads gainers on BSEs A group
Dec 21,2016

Reliance Communications jumped 7.85% at Rs 37.80. The stock topped the gainers in A group. On the BSE, 37.28 lakh shares were traded on the counter so far as against the average daily volumes of 7.62 lakh shares in the past two weeks.

Welspun Corp rose 6.24% at Rs 80. The stock was the second biggest gainer in A group. On the BSE, 65.54 lakh shares were traded on the counter so far as against the average daily volumes of 99,000 shares in the past two weeks.

Repco Home Finance firmed up 3.76% at Rs 530.90. The stock was the third biggest gainer in A group. On the BSE, 20,000 shares were traded on the counter so far as against the average daily volumes of 65,000 shares in the past two weeks.

Cholamandalam Investment and Finance Company rose 3.19% at Rs 900. The stock was the fourth biggest gainer in A group. On the BSE, 39,000 shares were traded on the counter so far as against the average daily volumes of 21,000 shares in the past two weeks.

Jubilant Life Sciences rose 2.99% at Rs 614.10. The stock was the fifth biggest gainer in A group. On the BSE, 52,000 shares were traded on the counter so far as against the average daily volumes of 80,000 shares in the past two weeks.

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Sasken hits 52-week high ahead of board meet to consider share buyback price
Dec 21,2016

The announcement was made after market hours yesterday, 20 December 2016.

Meanwhile, the S&P BSE Sensex was up 40.01 points or 0.15% at 26,347.99

On the BSE, 38,000 shares were traded on the counter so far as against the average daily volumes of 1.43 lakh shares in the past one quarter. The stock hit a high of Rs 448.40 in intraday trade so far, which is 52-week high for the counter. The stock hit a low of Rs 420 so far during the day. The stock hit a 52-week low of Rs 233.10 on 29 February 2016.

The stock had outperformed the market over the past 30 days till 20 December 2016, rising 6.17% compared with the 2.11% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 17.02% as against Sensexs 7.72% decline.

The small-cap company has equity capital of Rs 17.72 crore. Face value per share is Rs 10.

On 27 October 2016, the board of directors of Sasken Communication Technologies had approved the buyback of up to 28.24 lakh equity shares (representing 15.94% of the total paid-up equity share capital of the company) at a maximum price of Rs 425 per share payable in cash for a total consideration not exceeding Rs 120.04 crore. The company will buyback shares on a proportionate basis through the tender offer route using stock exchange mechanism, Sasken Communication Technologies said.

Sasken Communication Technologies consolidated net profit fell 9.19% to Rs 9.58 crore on 7.36% rise in net sales to Rs 118.40 crore in Q2 September 2016 over Q2 September 2015.

Sasken Communication Technologies is a leader in providing engineering R&D and productized IT services to global tier I customers in the communications & devices, retail, insurance and independent software space.

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Vascon Engineers gains after selling stake in Viorica Hotels
Dec 21,2016

Meanwhile, the BSE Sensex was up 26.99 points, or 0.10%, to 26,334.97.

On the BSE, so far 52,000 shares were traded in the counter, compared with average daily volumes of 2.50 lakh shares in the past one quarter. The stock had hit a high of Rs 30 and a low of Rs 28.45 so far during the day.

The stock hit a 52-week high of Rs 41.85 on 26 October 2016. The stock hit a 52-week low of Rs 20.80 on 29 February 2016. The stock had underperformed the market over the past 30 days till 20 December 2016, rising 1.43% compared with the 2.11% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 16.47% as against Sensexs 7.72% decline.

The small-cap company has equity capital of Rs 161.34 crore. Face value per share is Rs 10.

Vascon Engineers reported net profit of Rs 0.87 crore in Q2 September 2016 compared with net loss of Rs 8.28 crore in Q2 September 2015. Net sales fell 26.3% to Rs 51.98 crore in Q2 September 2016 over Q2 September 2015.

Vascon Engineers is an engineering, procurement and construction (EPC) company. It is active in multiple sectors including residential, industrial, IT parks, malls and multiplexes, hospitality and community.

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White Diamond Industries renamed as White Organic Agro
Dec 21,2016

White Diamond Industries announced that the Company has been renamed as White Organic Agro following receipt in change name of company from RoC.

Following the change in company name, the Company plans to pursue all statutory licences for its brand name White Organics that shall be mandated for further growth and expansion of the agro business.

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