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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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K D Trend Wear announces change in directorate
Jun 20,2017

K D Trend Wear announced the resignation of Arjun Singh on 15 May 2017 and appointment of Rakesh Verma as Director with effect from 15 May 2017.

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Quick Heal Technologies allots 67,081 equity shares
Jun 20,2017

Quick Heal Technologies has allotted 67,081 equity shares under ESOP on 19 June 2017. The total issued share capital after this issue is Rs 70.17 crore comprising of 7,01,76,586 equity shares of Rs 10 each.

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Rama Steel Tubes advances after installing solar project
Jun 20,2017

The announcement was made after market hours yesterday, 19 June 2017.

Meanwhile, the S&P BSE Sensex was up 48.95 points or 0.16% at 31,360.52. The S&P BSE Small-Cap index was up 44.16 points or 0.28% to 15,698.13.

On the BSE, 8,349 shares were traded on the counter so far as against the average daily volumes of 36,167 shares in the past one quarter. The stock had hit a high of Rs 135.40 and a low of Rs 133.95 so far during the day. The stock had hit a record high of Rs 162.85 on 10 May 2017 and a 52-week low of Rs 88.10 on 24 June 2016.

Rama Steel Tubes said that the solar project will be generating 1100 MWh/Year of energy, same amount of energy needed to power the installed and upcoming capacities.

The solar project has a capacity of 750 KWp and will generate the same amount of energy needed to power the current as well as the planned upcoming capacity. An array of 2400 solar panels carpets the land, converting sunlight into electrical currents. lt will save money and energy while also protecting the environment. The estimated amount of reduction in the carbon footprint will be 1120 metric tonnes (MT) per annum by reducing the emission of carbon dioxide into the atmosphere.

Rama Steel Tubes has unveiled one of the lndias largest solar energy projects of its kind in the electric resistance welding (ERW) pipes segment. The company has executed the entire project in less than 3 months time at a cost of Rs 3.75 crore. Working with Visa Powertech P Ltd, the sustainable energy developer, Rama Steel Tubes has mounted 2,400 solar panels on the factory land at its Khopoli facility, Maharashtra - an area equivalent to 3.75 acres.

Currently this facility has an overall manufacturing capacity of 72,000 MT per annum, however the company has plans to bring in additional 60,000 MT capacity at the same location. This facility is going to boost the performance of the company. ln line with its vision of profitable growth, the company has been successful in further strengthening its presence in highly profitable geographies. The companys products have been well accepted and appreciated in all the markets that it caters to.

Rama Steel Tubes deals in manufacturing, supplying and exporting of steel pipes, steel tubes and fittings.

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Kanak Krishi Implements announces change in directorate
Jun 20,2017

Kanak Krishi Implements announced that Shyam Saini has resigned on 15 May 2017 due to personal reason and Roshan Tirkey has been appointed as director w.e.f. 15 May 2017.

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Board of Southern Online Bio Technologies accepts resignation of company secretary
Jun 20,2017

The Board of Southern Online Bio Technologies in their meeting held on 22 May 2017 has accepted the resignation of Ankita Damani as Company Secretary & Compliance Officer.

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Biocon allots 40 crore equity shares
Jun 20,2017

Biocon announced that the Board of Directors of the Company at its meeting held on 19 June 2017 has allotted 40,00,00,000 equity shares of Rs. 5/- each as fully-paid up bonus equity shares, in the ratio of 2 equity shares for every 1 equity share held, to the eligible members whose names appear on the register of members/list of beneficial owners as on 17 June 2017, being the record date fixed for this purpose.

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Eros International Media allots 17,889 equity shares
Jun 20,2017

Eros International Media has allotted 17,889 equity shares of Rs. 10/- each under ESOP.

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Ind-Ra: Religare Enterprises Dependent on External Inflows for Immediate Payouts
Jun 20,2017

Religare Enterprise Limited (REL; IND AA-/Stable) is likely to meet its immediate debt repayment (including interest) of INR1.55 billion on 30 June 2017 through external flows, due to temporary insufficient cash on its own book, says India Ratings and Research (Ind-Ra). REL may raise short-term bank loans or commercial papers to meet the immediate payouts.

In April 2017, REL had announced a stake sale in its health insurance subsidiary. The company expects to receive sale consideration in the near to medium term (post the necessary regulatory approvals), which would provide comfort to the liquidity situation. As a holding company, REL has depended upon cash receipts in the form of dividends from the key operating subsidiary, Religare Finvest Limited (RFL; IND AA-/Stable) as well as interest income from loans and advances. However, RFL was unable to provide dividends to REL in FY17 due to higher credit write-offs.

During FY16 and FY17, REL had sold off and realised purchase consideration from the sale of its stakes in various key businesses such as life insurance business, domestic asset management company and global asset management company. The company has significantly brought down its external debt since the last couple of years by utilising the money raised from the sale of businesses. The lower external debt outstanding (forms just 18% of total debt) provides REL with the buffer to raise additional debt. REL has access to sufficient liquidity buffers available with operating group companies - RFL and its subsidiary Religare Housing Development Finance Corporation Limited (IND AA-/Stable) in the form of cash, liquid investments and unutilised sanctioned bank lines.

RELs ratings are driven by support from its key operating subsidiary, RFL. Post the one-off credit losses in RFL, REL had infused equity into RFL which strengthened RFLs equity buffers. Ind-Ra expects RFL to resume payment of dividends to REL from FY18, which would keep the rating linkages intact. That being said, Religare group is in the restructuring mode. This involves selling off stakes in businesses and announcements relating to the merger of certain subsidiaries into REL. This would simplify the corporate structure and knock-off the inter-group liabilities. It would lead to a decline in RELs double leverage with significant reduction in debt from subsidiaries (82% of RELs debt).

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Rama Steel Tubes may gain after installing solar project
Jun 20,2017

Rama Steel Tubes announced that it has installed solar project at Khopoli facility, Maharashtra. This solar project will be generating 1100 MWh / Year of energy, same amount of energy needed to power the installed and upcoming capacities. The announcement was made after market hours yesterday, 19 June 2017.

The solar project has a capacity of 750 KWp and will generate the same amount of energy needed to power the current as well as the planned upcoming capacity. An array of 2400 solar panels carpets the land, converting sunlight into electrical currents. lt will save money and energy whilealso protecting the environment. The estimated amount of reduction in the Carbon Footprint will reduce by LL20 MT pa by reducing the emission of Carbon dioxide into the atmosphere.

Rama Steel Tubes has unveiled one of the lndias largest solar energy projects of its kind in the ERW pipes segment. The company has executed the entire project in less than 3 months time at a cost of Rs 3.75 crore. Working with Visa Powertech P Ltd, the sustainable energy developer, Rama Steel Tubes has mounted 24OO solar panels on the factory land at its Khopoli facility, Maharashtra - an area equivalent to 3.75 acres. Currently this facility has an overall manufacturing capacity of 72,OOO MT per annum, however the company has plans to bring in additional 60,000 MT capacity at the same location. These facility is going to boost the performance of the company. ln line with its vision of profitable growth, the company has been successful in further strengthening its presence in highly profitable geographies. The companys products have been well accepted and appreciated in all the markets that it caters to.

Indiabulls Ventures said that IVL Finance, a non-public deposit taking NBFC registered with the Reserve Bank of India, a wholly owned subsidiary of Indiabulls Ventures has appointed Pinank Shah, as its CEO with immediate effect. The announcement was made after market hours yesterday, 19 June 2017.

Pinank Shah has been with Indiabulls Group for nearly 6 years. At Indiabulls Housing Finance (IHFL), Pinank Shah has been involved in various functions from time to time including credit and treasury functions and has over time gained very vast and wide experience in context to running a finance business. Prior to joining Indiabulls, Shah has worked with HDFC for about 10 years. Shah holds a Bachelor degree in Commerce from Mumbai University and a Master degree in Management Studies (Finance) from Jamnalal Bajaj Institute of Management Studies.

Tayo Rolls said that a meeting of the committee of the board will be held on 22 June 2017 for allotment of non-cumulative redeemable preference shares. The announcement was made after market hours yesterday, 19 June 2017.

Mindtree said that Magnet 360, a Mindtree company, announced the release of ConsumerConnect 360n++a Salesforce Fullforce Solution Accelerator for consumer goods brands. The announcement was made after market hours yesterday, 19 June 2017.

Bhushan Steel clarified on news item appeared in the channels captioned SFIO grilled Bhushan Steels CFO Nittin Johari; Allegation-Rs 5000 Cr. Re-routed Via Hawala Operators To Promoters? that at the outset the news item as aired is incorrect and wrong for the reason that there has been no grilling of Nittin Johari, CFO by SFIO as mentioned. It is necessary to mention that the allegation(s) as made in news on 19th June, 2017 are completely wrong, baseless and hence, denied in their totality. The announcement was made after market hours yesterday, 19 June 2017.

SpiceJet and Boeing on 19 June 2017 signed a memorandum of understanding for 40 737 MAX airplanes. The agreement, valued at approximately $4.74 billion at current list prices, is split evenly between 20 new orders for the 737 MAX 10 and conversions of 20 of the low-cost carriers 737 MAX 8 airplanes of its current order to 737 MAX 10s. The announcement was made after market hours yesterday, 19 June 2017.

SpiceJet operates a fleet of 35 Next-Generation 737s and 19 Bombardier Q400s. The carrier plans to grow its operational fleet to 100 airplanes by 2020 and looks to expand regionally with the new 737 MAX family of airplanes. SpiceJet will take delivery of its first 737 MAX in 2018.

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Growth rate in Foreign Exchange Earnings in rupee terms in May 2017 over May 2016 was 20.9% compared to growth of 7.9% in May 2016
Jun 19,2017

Ministry of Tourism estimates monthly Foreign Exchange Earnings (FEEs) through tourism in India, both in rupee and dollar terms. Based on the credit data of Travel Head from Balance of Payments of RBI.

The highlights of the estimates of FEEs from tourism in India for May 2017 and Jan-May 2017 are as below:-

Foreign Exchange Earnings (FEEs) through tourism (in Rs. terms)

n++ FEEs during the month of May 2017 were Rs.12,403 crore as compared to Rs.10,260 crore in May 2016 and Rs.9,505 crore in May 2015.

n++ The growth rate in FEEs in rupee terms in May 2017 over May 2016 was 20.9% compared to growth of 7.9% in May 2016 over May 2015.

n++ FEEs during the period January- May 2017 were Rs. 74,008 crore with a growth of 19.2%, as compared to the FEE of Rs.62,072 crore with a growth of 14.0% in January- May 2016 over January- May, 2015.

Foreign Exchange Earnings (FEEs) through tourism (in US $ terms)

n++ FEEs in US$ terms during the month of May 2017 were US$ 1.924 billion as compared to FEEs of US$ 1.534 billion during the month of May 2016 and US$ 1.491 billion in May 2015.

n++ The growth rate in FEEs in US$ terms in May 2017 over May 2016 was 25.4% compared to a positive growth of 2.9% in May 2016 over May 2015.

n++ FEEs during the period January-May 2017 were US$ 11.199 billion with a growth of 21.3% as compared to the FEE of US$ 9.231 billion with a growth of 6.0% in January- May 2016 over January- May 2015.

Note: Estimates of FEEs are based on following factors:

I. Per capita FEEs during April-June 2016= RBIs credit figure for travel (April-June 16)/FTAs (April-June 16)

II. FTAs for May 2017.

III. Inflation factor based on CPI (U) for May 2017.

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Outcome of board meeting of Toyam Industries
Jun 19,2017

Toyam Industries announced that the Board of directors of the Company at its meeting held on 19 June 2017 transacted the following -

Appointment of William Joseph Daly as Whole Time Director.

Appointment of Sajjad Rajabali Jaffer as Additional Director under Executive Category

Approved establishing a subsidiary in Dubai which will be responsible for launching and functioning of KIL Arena in Dubai and operations of ancillary businesses like KIL Merchandise, KIL Food & Beverages and KIL Gaming

Opening of KIL Arena in Dubai

Approved resignation of Mayank Lashkari from post of Additionl Director.

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IVL Finance (subsidiary of Indiabulls Ventures) appoints CEO
Jun 19,2017

IVL Finance (a non-public deposit taking NBFC registered with the Reserve Bank of India) a wholly owned subsidiary of Indiabulls Ventures has appointed Pinank Shah, as its CEO with immediate effect.

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Burnpur Cements announces change in company secretary
Jun 19,2017

Burnpur Cements announced the resignation of Sudhansu Panigrahi from the post of Company Secretary with effect from 17 April 2017. The Company has appointed Indrajeet Tiwary as Company Secretary with effect from 14 June 2017.

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Deccan Gold Mines allots 553,500 equity shares
Jun 19,2017

Deccan Gold Mines has allotted 553,500 fully paid equity shares of Re.1/- each on conversion of employee stock options under Deccan Gold Mines Limited Employee Stock Option Scheme, 2014 (& amended 2016).

Consequent to the above allotment, the paid-up equity share capital of the Company has increased from Rs.91,627,075/- consisting of 91,627,075 equity shares of Re.1/- each to Rs. 92,180,575/- consisting of 92,180,575 equity shares of Re.1/- each.

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SpiceJet and Boeing sign MoU for 40 737 MAX airplanes
Jun 19,2017

SpiceJet and Boeing on 19 June 2017 signed a memorandum of understanding for 40 737 MAX airplanes. The agreement, valued at approximately $4.74 billion at current list prices, is split evenly between 20 new orders for the 737 MAX 10 and conversions of 20 of the low-cost carriers 737 MAX 8 airplanes of its current order to 737 MAX 10s.

SpiceJet operates a fleet of 35 Next-Generation 737s and 19 Bombardier Q400s. The carrier plans to grow its operational fleet to 100 airplanes by 2020 and looks to expand regionally with the new 737 MAX family of airplanes. SpiceJet will take delivery of its first 737 MAX in 2018.

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