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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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Oriental Carbon & Chemicals announces change in corporate office
Dec 08,2016

Oriental Carbon & Chemicals announced change of corporate office with effect from 12 December 2016 -

Oriental Carbon & Chemicals
14th Floor, Tower -B, World Trade Tower
Plot No. C-1, Sector -16, Noida - 201301
Uttar Pradesh, India
Phone - 91-120-2446850.

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Chamanlal Setia Exports gets assigned ratings for bank facilities
Dec 08,2016

Chamanlal Setia Exports announced that the Company has received credit ratings from CRISIL Ratings as follows:

Total Bank Loan Facilities Rated : Rs. 100 crore

Long-Term Rating : CRISIL BBB+/Positive

Short-Term Rating : CRISIL A2.

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Praj Industries partners with Indian Oil Corporation and BPCL
Dec 08,2016

Praj Industries has entered into a binding agreement for cost sharing with Indian Oil Corporation (IOCL) on 7 December 2016 to set up one plant each at Panipat, Haryana and Dahej, Gujarat. These 2nd Generation (2G) bio-ethanol plantswill have capacity to produce 100 Kilo litres of ethanol per day.

This is a progress milestone as per MoU signed earlier this year wherein IOCL selected Praj as its technology partner for setting up multiple 2G bio-ethanol plantsbased on its indigenously developed technology.

Additionally, now Bharat Petroleum Corporation (BPCL)has also selected Praj, as technology partner for setting up one 2G bio-ethanol plant in the state of Orissa having the capacity of 100 Kilo litres of ethanol per day. Both parties entered into MoU to this effect on 7 December 2016.

Project timelines and capital outlay estimations are under finalisation.

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IDFC Bank announces change in directorate
Dec 08,2016

IDFC Bank announced that the Board of Directors of the Bank has approved the appointment of Veena Mankar as the Non-Executive Chairperson of the Board w.e.f 09 December 2016 upto 26 July 2018, in place of Anil Baijal who would step down from the Board on 08 December 2016 consequent to his Reserve Bank of India (RBI) approved tenure coming to an end. The appointment of the new Non-Executive Chairperson is subject to approval of the RBI.

Mankar has been an Independent Director of the Bank since 27 July 2015.

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Chembond Chemicals allots equity shares
Dec 08,2016

Chembond Chemicals announced that the Nomination & Remuneration Committee of the Board of Directors of the Company, on 08 December 2016, has allotted 54500 equity shares of Rs. 5/- each face value, to the Option Grantee(s) upon exercise of 54500 Options by them pursuant to the terms of the Chembond Chemicals Employees Stock Option Plan 2012 of the Company.

The said shares shall rank pari-passu with the existing shares of the Company in all respects.

Post allotment, the Companys issued and paid-up share capital stands increased to Rs. 67,241,440/- divided into 13448288 equity shares of Rs. 5/- each face value.

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KDDL announces fund raising of subsidiary - Ethos
Dec 08,2016

KDDL announced that its subsidiary, Ethos has raised funds by way of preferential allotment of 354,609 equity shares of Rs 10 each at a premium of Rs 131 per share totalling Rs 4.99 crore to KDDL, being the promoter.

Post the allotment, consolidated holding of KDDL in Ethos will increase from 72.55% to 73.22% on fully diluted basis.

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NHPC signs PPAs with Assam Power Distribution Company for Tawang-I and Tawang-II HE Project
Dec 08,2016

NHPC announced that Power Purchase Agreement (PPA) in respect of up-coming projects Tawang-I and Tawang-II HE Project has been signed on 06 December 2016 with Assam Power Distribution Company. Bulk Power Supply Agreement (BPSA) in respect of Loktak Power Station, Manipur has also been extended on 06 December 2016 with Assam Power Distribution Company.

Further, the Company has informed that both PPA and BPSA signed for a period of 35 years from the date of commercial operation (COD) of respective projects.

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Bharat Financial Inclusion issues commercial paper aggregating Rs 20 crore
Dec 08,2016

Bharat Financial Inclusion announced that the Company issued Commercial Papers of an aggregate amount of Rs. 20 crore on 08 December 2016, which have been rated A1+ by a leading rating agency. Instruments with the aforesaid rating are considered to have a very strong degree of safety regarding timely payment of financial obligations. Such instruments carry the lowest credit risk.

The aggregate amount of Commercial Papers outstanding as on date is Rs. 495 crore.

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S E Power CEO resigns
Dec 08,2016

S E Power announced that Nikhil Bansal, Chief Financial Officer of the Company has resigned from his duties w.e.f 08 December 2016.

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Edelweiss Financial Services gets ratings assigned for ST debt programme
Dec 08,2016

Edelweiss Financial Services announced that ICRA has assigned the rating of [ICRA] A1+ (ICRA A one plus) to the proposed Short Term Debt Programme of Rs. 3,000 crore of the Company.

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APL Apollo Tubes wins Fastest Growing Manufacturing Company award
Dec 08,2016

APL Apollo Tubes has bagged the Fastest Growing Manufacturing Company Category Award at the IPF Industrial Excellence Awards.

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Himachal Pradesh becomes 18th State to join UDAY: an overall net benefit of approximately Rs. 823 crores to accrue to the State
Dec 08,2016

Government of India signed a Memorandum of Understanding (MOU) with the State of Himachal Pradesh and the State DISCOM under the Ujwal DISCOM Assurance Yojana (UDAY), the for operational and financial turnaround of the DISCOM. Himachal Pradesh is the 18th State to sign MoU under UDAY.

An overall net benefit of approximately Rs. 823 crores would accrue to the State by opting to participate in UDAY, by way of savings in interest cost, reduction in Aggregate Technical and Commercial (AT&C) and transmission losses, interventions in energy efficiency etc. during the period of turnaround.

By signing the MOU under UDAY, the Government of Himachal Pradesh would take over Rs.2891 crores of DISCOM debt, being 75% of the total DISCOM debt of Rs.3854 crores outstanding as on 30.09.2015, as envisaged in the scheme. The scheme also provides for the balance debt of Rs.963 crores to be re-priced or issued as State guaranteed DISCOM bonds, at coupon rates around 3% less than the average existing interest rate. The annual saving in the interest cost to the State would be around Rs.140 crores on account of restructuring of the DISCOM debt.

UDAY not only focusses on bringing about financial turnaround of the DISCOMs, but also lays stress on improving operational efficiencies of the DISCOMs. In order to bring about a sustainable turnaround of the DISCOM, the State Government and the DISCOM will improve operational efficiency through compulsory Distribution Transformer metering, consumer indexing & GIS mapping of losses, upgrade/change transformers, meters etc., smart metering of high-end consumers, thereby bringing about reduction in transmission losses and AT&C losses, besides eliminating the gap between cost of supply of power and realization. The reduction in AT&C and transmission losses to 12.75% and 3.50% respectively is likely to bring additional revenue of around Rs.119 crores during the period of turnaround.

With the financial turnaround through financial and operational efficiencies, the rating of the DISCOM would improve, which would help them in raising cheaper funds for their future capital investment requirement. This is expected to provide interest cost saving of around Rs.6 crores to the DISCOM.

Demand Side interventions in UDAY such as usage of energy-efficient LED bulbs, agricultural pumps, fans & air-conditioners and efficient industrial equipment through PAT (Perform, Achieve, Trade) would help in reducing peak load, flatten load curve and thus help in reducing energy consumption in the State. The gain is expected to be around Rs.278 crores.

While efforts will be made by the State Government and the DISCOM to improve the operational efficiency of the DISCOM, and thereby reduce the cost of supply of power, the Central government would also provide incentives to the DISCOM and the State Government for improving Power infrastructure in the State and for further lowering the cost of power.

Central schemes such as Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY), Integrated Power Development Scheme (IPDS), Power Sector Development Fund (PSDF) or such other schemes of Ministries of Power and New & Renewable Energy are already providing funds for improving Power Infrastructure in the State and additional/priority funding would be considered under these schemes, if the State/DISCOM meet the operational milestones outlined in the scheme.

The ultimate benefit of signing the MOU would go to the people of Himachal Pradesh. Higher demand for power from DISCOM would mean higher Plant Load Factor (PLF) of Generating units and therefore, lesser cost per unit of electricity thereby benefitting consumers. The DISCOM would also increase power supply in areas with reduced AT&C losses. Availability of electricity would boost the economy, promote industries, thereby improving employment opportunities and see Himachal Pradesh develop into one of the leading industrialized States in India.

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Board of Jyothy Laboratories approves private placement of NCDs
Dec 08,2016

Jyothy Laboratories announced that the Board of Directors of the Company at its meeting held on 08 December 2016 has approved the proposal of issue of 4000 secured, rated, unlisted, redeemable, non-convertible debentures of face value of Rs 10 lakh each aggregating Rs 400 crore on private placement basis.

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Board of Capital Trade Links approves appointment of director
Dec 08,2016

Capital Trade Links announced that the Board of Directors at its meeting held on 08 December 2016 at its meeting approved the appointment of Raj Kumar as Whole Time Director and Jagrati Sethi as a Woman Director on the Board of the Company.

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Agenda for Board meeting of Yuranus Infrastructure
Dec 08,2016

Yuranus Infrastructure announced that a meeting of the Board of Directors of the Company is scheduled to be held on 14 December 2016, inter alia, to transact the following business:

1. To add main object clause apart from existing main object clause of the Memorandum of Association of the Company.

2. To adopt fresh Memorandum of Association and new set of Articles of Association as per Companies Act, 2013.

3. To Convene an Extraordinary General Meeting of the Company for seeking shareholders approval for the aforesaid matters.

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