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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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Asian Hotels (West) intimates of curb on purchase of shares by NRIs
Aug 01,2017

Asian Hotels (West) announced that it has received a communication from the Reserve Bank of India advising that the foreign shareholding though NRIs in the Company has crossed limit of 10% of its paid up capital. Therefore no further purchase of the shares of the Company would be allowed through stock exchanges in India on behalf of the NRIs.

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Volumes jump at DCM Shriram counter
Aug 01,2017

DCM Shriram clocked volume of 5.78 lakh shares by 14:46 IST on BSE, a 51.31-times surge over two-week average daily volume of 11,000 shares. The stock rose 6.8% to Rs 393.35.

Torrent Power notched up volume of 16.43 lakh shares, a 24.33-fold surge over two-week average daily volume of 68,000 shares. The stock rose 0.49% to Rs 182.80.

Music Broadcast saw volume of 2.10 lakh shares, a 21.99-fold surge over two-week average daily volume of 10,000 shares. The stock rose 0.36% to Rs 360.

Tech Mahindra clocked volume of 20.90 lakh shares, a 20.73-fold surge over two-week average daily volume of 1.01 lakh shares. The stock rose 4.83% to Rs 403.85.

Indian Hotels Company saw volume of 4.03 lakh shares, a 16.06-fold rise over two-week average daily volume of 25,000 shares. The stock rose 1.13% to Rs 125.85.

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Century Plyboards declines after weak Q1 results
Aug 01,2017

The result was announced during market hours today, 1 August 2017.

Meanwhile, the S&P BSE Sensex was down 26.07 points, or 0.08% at 32,488.87. The S&P BSE Mid-Cap index was up 41.41 points, or 0.27% at 15,430.98.

On the BSE, 36,000 shares were traded on the counter so far as against the average daily volumes of 28,853 shares in the past one quarter. The stock had hit a high of Rs 303.80 and a low of Rs 280.80 so far during the day. The stock had hit a record high of Rs 312.95 on 16 June 2017 and a 52-week low of Rs 154.50 on 22 December 2016.

The stock had underperformed the market over the past one month till 31 July 2017, advancing 0.29% compared with the Sensexs 5.15% rise. The scrip had, however, outperformed the market over the past one quarter advancing 14.87% as against the Sensexs 8.68% rise. The scrip had also outperformed the market over the past one year advancing 25.49% as against the Sensexs 15.91% rise.

The mid-cap company has equity capital of Rs 22.22 crore. Face value per share is Rs 1.

Century Plyboards (India) is the largest seller of multi-use plywood and decorative veneers in the Indian organized plywood market.

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Marico slides after weak Q1 numbers
Aug 01,2017

The result was announced during trading hours today, 1 August 2017.

Meanwhile, the S&P BSE Sensex was up 14.45 points, or 0.04% to 32,529.39.

On the BSE, 5.32 lakh shares were traded in the counter so far, compared with average daily volumes of 1.38 lakh shares in the past one quarter. The stock had hit a high of Rs 335.55 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 316.90 so far during the day. The stock hit a 52-week low of Rs 234.55 on 9 November 2016.

The stock had outperformed the market over the past one month till 31 July 2017, rising 6.24% compared with 5.15% rise in the Sensex. The scrip had underperformed the market in past one quarter, rising 4.56% as against Sensexs 8.67% rise. The scrip had outperformed the market in past one year, rising 16.48% as against Sensexs 16.11% rise.

The large-cap company has equity capital of Rs 129.05 crore. Face value per share is Re 1.

Marico is a leading Indian group in consumer products & services in the global beauty and wellness space.

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Payment of Mineral Royalty to Districts
Aug 01,2017

Ministry of Mines has amended the Mines and Minerals (Development and Regulation) (MMDR) Act, 1957 through the MMDR Amendment Act, 2015, one of the important provisions being the introduction of section 9(B); for the establishment of District Mineral Foundation (DMF) in districts affected by mining related operations. The object of DMFs is to work for the interest and benefit of persons and areas affected by mining related operations, the DMFs will be funded by statutory contributions from holders of mining lease and in this regard, rules specifying rates of contribution to DMFs has been notified on 17.09.2015, which prescribes the rate of contribution to DMF as follows:

(a) 10% of royalty in respect of mining leases granted on or after 12.1.2015; and

(b) 30% of royalty in respect of mining leases granted before 12.1.2015

Contribution will directly go to the District Mineral Foundation Trust (DMFT) of the respective district.

The Pradhan Mantri Khanij Kshetra Kalyan Yojana (PMKKKY) has been conceived by the Central Government which will be implemented by the District Mineral Foundations (DMFs) of the respective districts using the funds accruing to the DMFT. At least 60% of PMKKKY funds will be utilized for high priority areas like: (i) drinking water supply; (ii) environment preservation and pollution control measures; (iii) health care (iv) education; (v) welfare of women and children; (vi) welfare of aged and disabled people; (vii) skill development; and (viii) sanitation. The rest of the funds will be utilized for the following: (i) physical infrastructure; (ii) irrigation; (iii) energy and watershed development; and (iv) any other measures for enhancing environmental quality in mining district.

Directions have been issued under section 20A of MMDR Act on 16.09.2015 to all States to incorporate the PMKKKY into the rules framed by them for the District Mineral Foundations.

As per the information made available by Government of Maharashtra, total amount of Rs. 26.35 Crores has been collected by Pune District under DMF and Rs. 365.94 Crores has been collected by Government of Maharashtra under DMFs. As per Section 9(B)(2) of the MMDR Act, the manner in which the DMF shall work for the interest and benefit of persons and areas affected by mining related operations shall be prescribed by the State Governments through rules framed in this regard. The funds accrued to DMF will be utilized for the activities as per the PMKKKY. The details of the expenditure made in this regard are not maintained centrally by the Ministry of Mines.

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Hindalco shines as foreign broker initiates coverage
Aug 01,2017

Meanwhile, the S&P BSE Sensex was down 4 points, or 0.01% to 32,510.94

On the BSE, 8.72 lakh shares were traded in the counter so far, compared with average daily volumes of 12.03 lakh shares in the past one quarter. The stock had hit a high of Rs 226.25 in intraday trade, which is also a 52-week high for the stock. The stock had hit a low of Rs 221 so far during the day. The stock had hit a 52-week low of Rs 132.10 on 29 July 2016.

The stock had outperformed the market over the past one month till 31 July 2017, rising 15.17% compared with 5.15% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 9.64% as against Sensexs 8.67% rise. The scrip had also outperformed the market in past one year, surging 60.59% as against Sensexs 16.11% rise.

The large-cap company has equity capital of Rs 224.35 crore. Face value per share is Re 1.

A foreign brokerage firm reportedly initiated coverage on the Hindalco Industries stock with an outperform rating with 12-month price target at Rs 270. Hindalco continues to enjoy a favourable position on the cost curve, the brokerage firm said. Low costs of production will ensure steady free cash flow generation in India and domestic coal prices remaining benign will also aid the company, it said.

Hindalco Industries net profit rose 25.6% to Rs 50252 crore on 26.93% rise in total income to Rs 11248.66 crore in Q4 March 2017 over Q4 March 2016.

Hindalco Industries, metals flagship company of the Aditya Birla Group, is the industry leader in aluminium and copper.

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Reliance Power slips after weak Q1 results
Aug 01,2017

The result was announced after market hours yesterday, 31 July 2017.

Meanwhile, the S&P BSE Sensex was down 11.10 points, or 0.03% to 32,503.84.

On the BSE, 4.93 lakh shares were traded in the counter so far, compared with average daily volumes of 6.40 lakh shares in the past one quarter. The stock had hit a high of Rs 45.40 and a low of Rs 44.40 so far during the day. The stock hit a 52-week high of Rs 55 on 1 August 2016. The stock hit a 52-week low of Rs 38.20 on 24 November 2016.

The stock had outperformed the market over the past one month till 31 July 2017, rising 6.70% compared with 5.15% rise in the Sensex. The scrip had underperformed the market in past one quarter, falling 6% as against Sensexs 8.67% rise. The scrip had also underperformed the market in past one year, falling 14.34% as against Sensexs 16.11% rise.

The large-cap company has equity capital of Rs 2805.13 crore. Face value per share is Rs 10.

Reliance Power said that the Sasan ultra mega power projects (UMPP) in Madhya Pradesh generated 7,531 million units, operating at availability of 89%. Captive coal mines of Sasan UMPP produced 4.4 million tonnes of coal. The total volume including overburden removal handled by coal mine of Sasan was ~20 million cubic metres (MCuM) in Q1 June 2017.

The Rosa Power Plant in UP generated 2,245 million units, operating at availability of 100%. The Butibori Power Plant in Maharashtra, generated 842 million units, operating at availability of 76%. The 40 MW Dhursar Solar PV plant in Rajasthan generated 18.40 million units, operating at availability of ~100%. The 45 MW Wind capacity in Vashpet, Maharashtra generated 22.62 million units, operating at availability of 95%. 100 MW Concentrated Solar Power (CSP) project at Dhursar, Rajasthan, generated 31 million units operating at availability of 99%.

Reliance Power is Indias leading private sector power generation and coal resources company. The company has the largest portfolio of power projects in the private sector, based on coal, gas, hydro and renewable energy, with an operating portfolio of 5,945 megawatts.

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UDAY: Green Shoots in Financial Performance of Discoms Visible, Although Challenges Remain
Aug 01,2017

India Ratings and Researchs (Ind-Ra) initial assessment of Ujwal DISCOM Assurance Yojana (UDAY) scheme suggests that both financial outcome (gap between average cost of supply (ACS) and average revenue realisation (ARR)) and operational efficiency (decline in aggregate technical and commercial losses (AT&C)) have improved at an aggregate level. However, aggregate performance masks wide inter-state variations. The reduction in ACS-ARR gap and AT&C losses observed in FY17 (over FY15) were similar to the trend observed during FY12-FY14. Ind-Ra believes that since different states joined UDAY at a different point of time, with the majority (17 states) of them joining in FY17, the time elapsed since then until now is too short to assess the success of the UDAY scheme.

Ind-Ra believes reduction in interest cost has benefitted discoms finances. This is estimated to have freed up INR220 billion capital of the banking sector. However, in the medium-to-long-term, an improvement in operational performance such as increased billing efficiency through feeder metering and feeder audit leading to higher collection will be crucial for keeping the discoms finances healthy. Tighter monitoring of action plan, appointment of nodal officers and state level monitoring committee are also equally important for achieving the desired results.

As of 31 March 2017 (FYE17), 26 states and one union territory have joined UDAY. Nagaland, Odisha and West Bengal have not joined UDAY. Until FYE17, INR2.69 trillion of discoms debt qualified for restructuring, and the state governments and discoms together issued bonds worth INR2.33 trillion (86.5% of the discoms debt). At FYE17, pending bonds to be issued by the states is estimated to be INR362.78 billion, which are likely to be issued by discoms. Issuance by state government will be subject to the fiscal space of each state according to their state Fiscal Responsibility and Budget Management Acts.

Ind-Ras assessment indicates that some green shoots have emerged so far as the financial performance of the discoms is concerned due to reduced interest cost and savings in power purchase cost (9MFY17: INR140.89 billion). Chhattisgarh discom turned profitable in 1QFY17, while Gujarat discoms increased their profitability in 9MFY17. Similarly, Haryana discoms turned profitable in 2QFY17 and 3QFY17. These results are encouraging; however, the success of UDAY lies in how quickly discoms of larger states such as Uttar Pradesh, Maharashtra, Tamil Nadu, among others turn around and make their finances self-sustainable. This will also improve the liquidity profile of independent power producers supplying power to these discoms.

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ITC director resigns
Aug 01,2017

ITC announced that Ashok Malik resigned from the Board of Directors of the Company with effect from close of work on 31 July, 2017, consequent to his appointment as Press Secretary to the President of India.

Malik represented the Specified Undertaking of the Unit Trust of India.

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Apoorva Leasing Finance & Investment Company appoints company secretary and compliance officer
Aug 01,2017

Apoorva Leasing Finance & Investment Company announced that Nikita Rohilla is appointed as the Company Secretary cum Compliance Officer of the Company with effect from 1 August 2017 persuant to section 203 of the Companies Act, 2013.

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InterGlobe Aviation to pay final dividend
Aug 01,2017

InterGlobe Aviation announced that final dividend for the financial year ended 31 March 2017, if approved at the AGM, will be paid on or after 29 August 2017.

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IT system of all the North East States Treasuries except Nagaland integrated with PFMS
Aug 01,2017

The Department of Expenditure, Ministry of Finance, Government of India has been taking several initiatives in the area of Public Expenditure Management in the North Eastern States with special focus on capacity building of the State Government officials and integration of the State Treasuries with the Union Public Financial Management System (PFMS) in order to improve the efficiency and transparency of public expenditure. These initiatives were reviewed recently by Shri Ashok Lavasa, Finance Secretary & Secretary (Expenditure) in a meeting with the Controller General of Accounts (CGA) and Director, National Institute of Financial Management (NIFM).

Treasury Integration with PFMS

To provide the Centre and State Governments with a real time, reliable and meaningful Management Information System and an effective Decision Support System (DSS) as well as track fund flow in respect of Central Sector (CS) and Central Assistance to State Plan (CASP) schemes, the IT system of all the North East States Treasuries (namely, Arunachal Pradesh, Manipur, Mizoram, Assam, Meghalaya, Sikkim, and Tripura) except Nagaland, have been integrated with PFMS.

Capacity Building

In last six months, 15 Trainings have been organized by the Central Project Management Unit (CPMU) of PFMS and different Ministers/Departments of Government of India in North Eastern States on PFMS. These 15 trainings include one training in each State Head quarter (two in Assam) by CPMU and six (6) trainings organized by different Ministers/Department in Assam/Meghalaya. Total 739 officers/officials/Non officials have been trained in these trainings. Scheme specific training on PFMS being organized by line Ministers/Departments are also being attended by the North Eastern States.

Besides the above, the participants from North East have also been attending Treasury Integration Workshops being organized at New Delhi. State Project Management Units at Guwahati and Shillong are by now well equipped with the skill set required for providing guidance for implementation of PFMS and these SPMUs are providing and holding support to the implementing agencies on need basis.

The National Institute of Financial Management (NIFM), an autonomous body under the Department of Expenditure has take-up training of the officers from the North Eastern States as a special focus area. Government E-Marketplace (GeM) training was conducted by NIFM faculty at Guwahati, Assam for three days, from 27th to 29th June 2017, wherein 53 participants of the Government of Assam were provided practical exposure to use of GeM for procurement of Goods and Services. A one week program on Public Private Partnership (PPP) in North-Eastern States has been conducted from 10th July 2017. More programs on GeM, Government Accounts and Finance and GST are planned to be conducted for officers of the North Eastern States in the coming months.

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SREI Infrastructure Finance leads gainers on BSEs A group
Aug 01,2017

Meanwhile, the BSE Sensex was up 27.37 points, or 0.08% at 32,542.31.

SREI Infrastructure Finance rose 6.28% at Rs 124.35. The stock topped the gainers in A group. On the BSE, 3.17 lakh shares were traded on the counter so far as against the average daily volumes of 4.82 lakh shares in the past two weeks.

Chennai Petroleum Corporation rose 5.59% at Rs 409.05. The stock was the second biggest gainer in A group. On the BSE, 3.10 lakh shares were traded on the counter so far as against the average daily volumes of 66,000 shares in the past two weeks.

Tech Mahindra rose 4.93% at Rs 404.25. The stock was the third biggest gainer in A group. On the BSE, 16.10 lakh shares were traded on the counter so far as against the average daily volumes of 1.01 lakh shares in the past two weeks.

Page Industries rose 3.76% at Rs 17,000.05. The stock was the fourth biggest gainer in A group. On the BSE, 511 shares were traded on the counter so far as against the average daily volumes of 423 shares in the past two weeks. The companys consolidated net profit rose 34.27% to Rs 791.79 crore on 0.17% growth in total income to Rs 7746.79 crore in Q1 June 2017 over Q4 March 2017. The result was announced after market hours yesterday, 31 July 2017.

Trent rose 4.20% at Rs 279. The stock was the fifth biggest gainer in A group. On the BSE, 1.65 lakh shares were traded on the counter so far as against the average daily volumes of 18,000 shares in the past two weeks.

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Shakti Pumps surges on fund buying
Aug 01,2017

Meanwhile, the S&P BSE Sensex was up 20.71 points, or 0.06% at 32,535.65. The S&P BSE Small-Cap index was up 1.48 points, or 0.01% at 16,095.04.

High volumes were witnessed on the counter. On the BSE, 3.55 lakh shares were traded on the counter so far as against the average daily volumes of 1.63 lakh shares in the past one quarter. The stock had hit a high of Rs 532.65 and a low of Rs 490.85 so far during the day. The stock had hit a record high of Rs 539.10 on 12 July 2017 and a 52-week low of Rs 114.35 on 9 November 2016.

The stock had underperformed the market over the past one month till 31 July 2017, advancing 4.17% compared with the Sensexs 5.15% rise. The scrip had, however, outperformed the market over the past one quarter advancing 97.38% as against the Sensexs 8.68% rise. The scrip had also outperformed the market over the past one year advancing 241.09% as against the Sensexs 15.91% rise.

The small-cap company has equity capital of Rs 18.38 crore. Face value per share is Rs 10.

Shakti Pumps (India)s consolidated net profit spurted 151.6% to Rs 4.83 crore on 16.8% increase in net sales to Rs 88.80 crore in Q1 June 2017 over Q1 June 2016.

Shakti Pumps (India) is a manufacturer and exporter of stainless steel water pumps, motors and solar pumps.

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Bharat Electronics gains after strong Q1 result
Aug 01,2017

The result was announced after market hours yesterday, 31 July 2017.

Meanwhile, the S&P BSE Sensex was up 0.69 points at 32,515.63

On the BSE, 4.51 lakh shares were traded on the counter so far as against the average daily volumes of 4.31 lakh shares in the past one quarter. The stock hit a high of Rs 187.40 in intraday trade so far, which is record high for the counter. The stock had hit a low of Rs 181.20 so far during the day. The stock had hit a 52-week low of Rs 119.05 on 14 September 2016.

The stock had outperformed the market over the past one month till 31 July 2017, rising 10.91% compared with 5.15% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 2.32% as against Sensexs 8.67% rise. The scrip had also outperformed the market in past one year, surging 44.4% as against Sensexs 16.11% rise.

The large-cap company has equity capital of Rs 223.36 crore. Face value per share is Re 1.

Bharat Electronics order book as on 1 July 2017 stood at Rs 41052 crore.

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 68.18% stake in Bharat Electronics (as per the shareholding pattern as on 30 June 2017).

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