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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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Eveready Industries moves higher after commencing operation at Assam plant
Feb 27,2017

The announcement was made on Friday, 24 February 2017, when the stock markets had remained closed on account of local holiday.

Meanwhile, the S&P BSE Sensex was up 20.89 points, or 0.07%, to 28,913.86.

On the BSE, 3,350 shares were traded on the counter so far as against the average daily volumes of 8,607 shares in the past one quarter. The stock had hit a high of Rs 256 and a low of Rs 251.50 so far during the day.

The stock had hit a 52-week high of Rs 291 on 30 August 2016 and a 52-week low of Rs 190 on 29 December 2016. The stock had underperformed the market over the past one month till 23 February 2017, advancing 5.09% compared with the Sensexs 6.55% rise. The scrip had, however, outperformed the market over the past one quarter advancing 14.9% as against the Sensexs 10.91% rise.

The small-cap company has equity capital of Rs 36.34 crore. Face value per share is Rs 5.

Eveready Industries India announced that the company has on 23 February 2017 commenced commercial production with a capacity of 500 million of batteries and 9 million LED flashlights per annum at its new unit at Industrial Growth Centre, Assam.

Eveready Industries India net profit rose 65.4% to Rs 35.19 crore on 1.7% increase in net sales to Rs 329.31 crore in Q3 December 2016 over Q3 December 2015.

Eveready Industries India is the market leader of dry cell batteries. Apart from dry cell batteries, the company is also the market leader in flashlights. Eveready also markets LED, CFL, GLS lamps & other lighting products and rechargeable lanterns & devices, and packet tea.

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Kothari Products advances after divesting entire stake in subsidiary
Feb 27,2017

The announcement was made on Saturday, 25 February 2017.

Meanwhile, the BSE Sensex was up 49.32 points, or 0.17%, to 28,942.29.

On the BSE, 80 shares were traded in the counter so far, compared with an average volume of 4,626 shares in the past two weeks. The stock had hit a high of Rs 184 and a low of Rs 181.50 so far during the day. The stock had hit a 52-week high of Rs 235.30 on 26 October 2016. The stock had hit a 52-week low of Rs 146 on 20 March 2016.

The stock had underperformed the market over the past one month till 23 February 2017, advancing 3.87% compared with the Sensexs 6.55% rise. The scrip had also underperformed the market over the past one quarter, gaining 10.09% as against the Sensexs 10.91% rise.

The small-cap company has equity capital of Rs 29.84 crore. Face value per share is Rs 10.

Kothari Products net profit fell 25.3% to Rs 10.68 crore on 14.7% rise in net sales to Rs 1098.64 crore in Q3 December 2016 over Q3 December 2015.

Kothari Products, a flagship company of Kothari Group was incorporated on 17th September 1983 and has presence in real estate, investments and international trading of exports & imports.

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GMR Chhattisgarh Energy allots equity shares under SDR
Feb 27,2017

GMR Chhattisgarh Energy (GCEL), a subsidiary of GMR Infrastructure has announced that the consortium of lenders of GCEL have adopted Strategic Debt Restructuring Plan (SDR), as provided under the scheme permitted by the RBI. Accordingly, GCEL has allotted equity shares to all the lenders.

As per the SDR scheme, out of the total outstanding debt (including accrued interest) of Rs 8,800 crore, debt to the extent of Rs 2,992 crore has been converted into equity by which the consortium lenders would have 52.4% shareholding and balance 47.6% would be held by GMR.

Post the conversion, the balance project debt stands at Rs 5,800 crore with Rs 2,992 crore equity held by lenders and Rs 2,721 crore equity held by GMR Group, resulting in the debt-to-equity ratio of 1.0x. The lower debt levels would result in improving the long term viability of the project.

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ONGC nudges higher on boards nod for investment in projects
Feb 27,2017

The announcement was made after market hours on Thursday, 23 February 2017. The stock market was shut on Friday, 24 February 2017 due to Mahashivratri holiday.

Meanwhile, the S&P BSE Sensex was up 52.64 points or 0.18% at 28,945.61.

On the BSE, 1.13 lakh shares were traded on the counter so far as against the average daily volumes of 7.10 lakh shares in the past one quarter. The stock had hit a high of Rs 197.95 and a low of Rs 196.30 so far during the day.

The stock had hit a 52-week high of Rs 212 on 31 January 2017 and a 52-week low of Rs 125.73 on 1 March 2016. The stock had underperformed the market over the past one month till 23 February 2017, sliding 2.08% compared with the Sensexs 6.55% rise. The scrip had also underperformed the market over the past one quarter, advancing 5.04% as against the Sensexs 10.91% rise.

The large-cap company has equity capital of Rs 6416.62 crore. Face value per share is Rs 5.

ONGC announced that its board approved development of five projects with an investment of Rs 7327 crore which will lead to production of 14.97 million metric tonnes (MMT) of oil and 2.97 billion cubic metres (BCM) of gas. ONGC has notified 18 discoveries so far in the financial year (FY) 2017.

In order to settle the long pending Gujarat and Assam royalty issue, an understanding has been reached on 17 February 2017 between Ministry of Petroleum and Natural Gas (MOP&NG), government of Gujarat/Assam and ONGC wherein it has been agreed that the outstanding amount towards differential royalty would be paid by the Government of India (GoI) directly to the governments of Gujarat and Assam. Payments already made to the state governments by ONGC based on interim Supreme Court (SC) orders (Rs 2562 crore) shall be adjusted in the accounts as expenditure.

Based on this settlement, SC has disposed off the case on 20 February 2017 and it has absolved the company of outstanding royalty demand by government of Gujarat and Assam amounting to Rs 9796 crore and potential interest claim of Rs 2868 crore.

Further, ONGCs board has approved execution of farm-in/farm-out agreement with Gujarat State Petroleum Corporation (GSPC) in respect of acquisition of 80% participative interest (PI) and operatorship in the NELP-III block KG-OSN-2001/3.

ONGCs net profit surged 196.9% to Rs 4352.33 crore on 9.2% growth in net sales to Rs 19933.78 crore in Q3 December 2016 over Q3 December 2015.

ONGC is Indias largest oil and gas exploration firm by sales. The Government of India held 68.93% stake in ONGC as per the shareholding pattern as on 31 December 2016.

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Shares of JITF Infra Logistics get listed
Feb 27,2017

The equity shares of JITF Infra Logistics (Scrip Code: 540311) are listed effective 27 February 2017 and admitted to dealings on the Exchange in the list of T Group Securities

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L&T gains after subsidiary wins contract
Feb 27,2017

The announcement was made on Saturday, 25 February 2017.

Meanwhile, the S&P BSE Sensex was up 18.72 points or 0.06% at 28,911.69.

On the BSE, 5,411 shares were traded on the counter so far as against the average daily volumes of 1.08 lakh shares in the past one quarter. The stock had hit high of Rs 1,499 and low of Rs 1,488 so far during the day.

The large-cap company has equity capital of Rs 186.59 crore. Face value per share is Rs 2.

L&T announced that its wholly owned subsidiary L&T Hydrocarbon Engineering (LTHE) has bagged an onshore engineering, procurement and construction (EPC) contract worth around Rs 1100 crore from Indian Oil Corporation (IOCL) for setting up a 0.740 million metric tonne per annum (MMTPA) fluidised cracking unit (FCC) including LPG treatment facility at its Bongaigaon refinery, Assam.

L&Ts consolidated net profit rose 38.9% to Rs 972.47 crore on 1.7% growth in net sales to Rs 26018.15 crore in Q3 December 2016 over Q3 December 2015.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.

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Coal India in focus as arm NLC approves Rs 1244-crore share buyback plan
Feb 27,2017

Coal India announced that the board of directors of its wholly-owned subsidiary Northern Coalfields (NCL), at its meeting held on 24 February 2017, approved the buyback of 76,356 fully paid equity shares, representing 4.3% of the paid-up share capital of NCL, from its shareholders on a proportionate basis through tender offer. The announcement was made on Saturday, 25 February 2017.

The maximum buyback size is Rs 1244.12 crore at a price of Rs 1.62 lakh each, payable in cash, subject to the approval of the shareholders of NCL. Since NCL is a wholly-owned subsidiary of Coal India, both, pre and post buyback by NCL, Coal India shall hold 100% of the paid-up equity share capital.

L&T announced that its wholly owned subsidiary L&T Hydrocarbon Engineering (LTHE) has bagged an onshore engineering, procurement and construction (EPC) contract worth around Rs 1100 crore from Indian Oil Corporation (IOCL) for setting up a 0.740 million metric tonne per annum (MMTPA) fluidised cracking unit (FCC) including LPG treatment facility at its Bongaigaon refinery, Assam. The announcement was made on Saturday, 25 February 2017.

State Bank of India (SBI) announced that the Government of India (GoI) has issued orders dated 22 February 2017, for acquisition of its associated banks viz. State Bank of Bikaner & Jaipur (SBBJ), State Bank of Mysore (SBM), State Bank of Travancore (SBT), State Bank of Patiala (SBP) and State Bank of Hyderabad (SBH). In terms of the orders, the entire undertaking of SBBJ, SBM, SBT, SBP and SBH shall stand transferred to and vested in SBI from 1 April 2017. The announcement was made after market hours on Thursday, 23 February 2017.

It may be recalled that the Finance Minister on 15 February 2017, announced that the Cabinet had approved the merger of SBBJ, SBM, SBT, SBP and SBH with SBI. SBI holds 90% stake in SBM, 79.09% stake in SBT and 75.07% stake in SBBJ as per the shareholding pattern as on 31 December 2016. SBH and SBP are not listed on the bourses.

TCS announced that Community Savings Bank Association (CSBA) has selected TCS BaNCS on the Cloud as the core banking solution for its member banks across the entire United Kingdom. The vision of CSBA is to have a local network of customer owned, regional banks that create and support wealth creation in local communities. TCS BaNCS on the Cloud is a digital banking solution designed to meet the market requirements in the UK. The announcement was made after market hours on Thursday, 23 February 2017.

Power Grid Corporation of India (PGCIL) announced that it has entered into loan agreement with Asian Development Bank (ADB) for an amount not exceeding $500 million for part funding of its projects. The announcement was made after market hours on Thursday, 23 February 2017.

Adani Ports and Special Economic Zone (APSEZ) announced the terms of buyback of non-convertible debentures (NCDs) on Friday, 24 February 2017. It intends to buyback NCDs aggregating to Rs 500 crore, due to mature on 28 April 2017 at a buyback price of Rs 10.80 lakh each. It will buyback NCDs aggregating to Rs 170 crore, due to mature on 15 September 2017 at Rs 10.62 lakh each. APSEZ will buyback NCDs aggregating to Rs 250 crore, due to mature on 18 May 2018 at Rs 10.71 lakh each. It will buyback NCDs aggregating to Rs 250 crore, due to mature on 18 August 2018 at Rs 10.69 lakh each. It may be noted that APSEZs board had on 14 February 2017, approved buyback of NCDs aggregating to Rs 1170 crore in one or more tranches.

ONGC announced that its board approved development of five projects with an investment of Rs 7327 crore which will lead to production of 14.97 million metric tonnes (MMT) of oil and 2.97 billion cubic metres (BCM) of gas. ONGC has notified 18 discoveries so far in the financial year (FY) 2017.

In order to settle the long pending Gujarat and Assam royalty issue, an understanding has been reached on 17 February 2017 between Ministry of Petroleum and Natural Gas (MOP&NG), government of Gujarat/Assam and ONGC wherein it has been agreed that the outstanding amount towards differential royalty would be paid by the Government of India (GoI) directly to the governments of Gujarat and Assam. Payments already made to the state governments by ONGC based on interim Supreme Court (SC) orders (Rs 2562 crore) shall be adjusted in the accounts as expenditure. Based on this settlement, SC has disposed off the case on 20 February 2017 and it has absolved the company of outstanding royalty demand by government of Gujarat and Assam amounting to Rs 9796 crore and potential interest claim of Rs 2868 crore.

Further, ONGCs board has approved execution of farm-in/farm-out agreement with Gujarat State Petroleum Corporation (GSPC) in respect of acquisition of 80% participative interest (PI) and operatorship in the NELP-III block KG-OSN-2001/3.

Inox Leisure announced that it has commenced the commercial operations of a multiplex cinema theatre, taken on lease basis and located at Jamnagar, Gujarat with effect from 24 February 2017. The multiplex cinema theatre has 5 screens and 954 seats.

Inox Leisure is now present in 58 cities with 115 multiplexes, 454 screens and a total seating capacity of 1.15 lakh seats across India. The announcement was made on Saturday, 25 February 2017.

Sun TV Network announced that the board of directors of the company at its meeting held on 24 February 2017, re-appointed K. Vijaykumar as Managing Director and Chief Executive Officer.

The board also appointed Kalanithi Maran as Executive Chairman and Kavery Kalanithi as Executive Director of the company for a period of 5 years with effect from 20 April 2017. The announcement was made on Friday, 24 February 2017.

Promoter Kalanithi Maran held 75% stake in Sun TV Network as per shareholding pattern as on 31 December 2016.

Eveready Industries India announced that it has on 23 February 2017 commenced commercial production with a capacity of 500 million of batteries and 9 million liquid crystal display (LED) flashlights per annum at its new unit at Industrial Growth Centre, Matia, Goalpara, Assam. The announcement was made on Friday, 24 February 2017.

Pidilite Industries said that Nina Waterproofing Systems, a subsidiary of the company has incorporated a subsidiary in Srilanka in the name of Nina Lanka Construction Technologies, which is proposed to be engaged in providing waterproofing services to various projects including construction projects. The announcement was made on Friday, 24 February 2017.

Kothari Products announced that the company has divested the entire stake in Sukhdham Constructions & Developers, a 100% subsidiary to Innerline Realty Pvt. Ltd., Mumbai. The announcement was made on Saturday, 25 February 2017.

Shiva Cement announced that the board meeting of the board of directors of the company will be held on 28 February 2017, to review the implementation of share purchase agreement dated 10 January 2017 executed between the existing promoters of the company & JSW Cement Limited & their PACs. The announcement was made on Saturday, 25 February 2017.

Jain Irrigation Systems announced that the meeting of sub committee of the board of directors of the company was held on 25 February 2017 which considered and approved the issue of foreign currency convertible bonds (FCCBs) upto $75 million to non-promoter entities for redemption of FCCBs worth $50 million issued in 2012/2013 and balance $25 million fresh issue for permitted use. The announcement was made on Saturday, 25 February 2017.

Centrum Capital announced that the fund raising committee in its meeting held on 25 February 2017 has approved an issuance of secured, unlisted, unrated, redeemable, non-convertible, principal protected market linked debentures of upto an amount of Rs 50 crore to be issued in one or more series by way of private placement. The announcement was made on Saturday, 25 February 2017.

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Board of Metalyst Forgings approves increase in authorised share capital
Feb 25,2017

Metalyst Forgings announced that the Board of Directors of the Company at its meeting held on 25 February 2017 has approved the following -

Increase in authorised share capital of the company.

Alteration of capital clause of the memorandum of association of the company.

Issuance of equity share on preferential basis to the promoter of the company upon conversion of its unsecured loan.

Issuance of convertible warrants on preferential basis to the promoter of the company upon conversion of its unsecured loan.

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Salzer Electronics allots 41,500 equity shares
Feb 25,2017

Salzer Electronics announced that the Employee Compensation Committee at its meeting held on 25 February 2017 has approved the allotment of 41,500 equity shares under Salzer ESOS 2012-13. Consequently, the paid up share capital of the company has increased to Rs 14.34 crore comprising of 1,43,48,187 equity shares of Rs 10 each.

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Board of Manvijay Development Company approves change in directorate
Feb 25,2017

Manvijay Development Company announced that the Board of Directors of the Company at its meeting held on 25 February 2017 placed the matter regarding the unavailability of Vaishali Pradeep Gupte for appointing her as an Independent Director as informed to the Stock Exchange earlier. For timely complying with the Provisions of Company Act, 2013 and any other Act if any applicable the Board has decided to appoint Dolly Dhandhresha (Women Director) as an Additional Director in the category of Non - Executive Independent Director with immediate effect, who shall hold office upto the date of the ensuing Annual General Meeting of the Company.

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Shyama Infosys announces change in directorate
Feb 25,2017

Shyama Infosys announced about appointment of Additional Director Mukesh Kumar Agarwal in place of Avijit Dey.

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Salona Cotspin announces its foray into garment business
Feb 25,2017

Salona Cotspin has decided to enter into garment business within the textile sector apart from its existing business.

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Sundaram Multi Pap announces resignation of company secretary and compliance officer
Feb 25,2017

Sundaram Multi Pap announced that the Manik Makwana has resigned from the position of Company Secretary and Compliance Officer of the Company and his resignation has been accepted by the Company. He is relieved from the post of Company Secretary and Compliance Officer as of close of business hours i.e. 7.00 p.m. on 24 February 2017.

Further, Amrut P. Shah, Chairman and Managing Director be and is hereby appointed as Compliance Officer of the Company till another Qualified Company Secretary is appointed as Compliance Officer by the Company.

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Sundaram Multi Pap announces resignation of company secretary and compliance officer
Feb 25,2017

Sundaram Multi Pap announced that the Manik Makwana has resigned from the position of Company Secretary and Compliance Officer of the Company and his resignation has been accepted by the Company. He is relieved from the post of Company Secretary and Compliance Officer as of close of business hours i.e. 7.00 p.m. on 24 February 2017.

Further, Amrut P. Shah, Chairman and Managing Director be and is hereby appointed as Compliance Officer of the Company till another Qualified Company Secretary is appointed as Compliance Officer by the Company.

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Info Edge (India) fixes record date for 2nd interim dividend
Feb 25,2017

Info Edge (India) has fixed 06 March 2017 as the record date for payment of 2nd interim dividend. The dividend will be paid on or after 10 March 2017.

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