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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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V2 Retail launches retail store in Gazipur, U.P.
Jun 20,2017

V2 Retail has launched one operational retail store at Gazipur in Uttar Pradesh. With this, there are 39 retail stores in operation.

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Gravita India starts commercial production of washed polypropylene
Jun 20,2017

Gravita India has started commercial production of washed polypropylene by installing new automated eco-friendly washing line having annual capacity of 6000 MTPA at its existing recycling unit situated in Jaipur. The Company has made investment of approx. Rs 1.50 crore for procuring and commissioning of this plant.

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Mindtree moves up after launching IT solution
Jun 20,2017

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

Meanwhile, the S&P BSE Sensex was up 52.81 points, or 0.17%, to 31,364.38. The S&P BSE Mid-Cap index was up 72.04 points, or 0.49%, to 14,889.78.

On the BSE, 2,165 shares were traded in the counter so far, compared with average daily volume of 54,204 shares in the past one quarter. The stock had hit a high of Rs 523.50 and a low of Rs 519.25 so far during the day. The stock had hit a 52-week high of Rs 681.50 on 5 July 2016. The stock had hit a 52-week low of Rs 400 on 9 November 2016.

The stock had outperformed the market over the past one month till 19 June 2017, gaining 3.85% compared with 2.78% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 8.91% as against Sensexs 5.61% gains. The scrip had, however, underperformed the market in past one year, declining 18.13% as against Sensexs 17.6% gains.

The mid-cap company has equity capital of Rs 168.03 crore. Face value per share is Rs 10.

Mindtree said that today, everyone and everything is becoming smarter and more connected than ever before. To help customers succeed, Magnet 360s Salesforce Fullforce Solution Accelerator provides faster and more predictable deployments for consumer goods (CG) customers, and gives them the ability to transform their traditional marketing, sales, and service functions into a multi-channel, customer-centric platform.

ConsumerConnect 360 leverages the combined power of the Salesforce Platform to create a unified digital experience. This combined power enables a brand to nurture consumers as they evaluate product options with detailed information and social engagement. Scalable, cutting-edge customer service becomes possible with features allowing customers to open a case, engage in self-service, or search for a socially-connected community solution, all of which drive engagement and retention.

Additionally, geolocation functionality delivers location-based products and drives geo-specific engagement. Personalized customer experiences can be further enhanced by creating contentfocused digital journeys. Engagement data can be used to identify additional touch points, create cross-sell and upsell opportunities, and drive customer loyalty.

Mindtrees consolidated net profit fell 5.72% to Rs 97.20 crore on 1.76% rise in net sales to Rs 1318.10 crore in Q4 March 2017 over Q3 December 2016.

Mindtree delivers digital transformation and technology services from ideation to execution, enabling Global 2000 clients to outperform the competition.

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Zydus Cadila receives final approval for Diflunisal Tablets
Jun 20,2017

Zydus Cadila has received final approval from USFDA to market Diflunisal Tablets in the strengths of 500 mg. It is a nonsteroidal anti-inflammatory drug (NSAID) and will be produced at the groups formulations manufacturing facility at Baddi.

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Punjab Communications announces change in directorate
Jun 20,2017

Punjab Communications announced that D .P. Reddy, IAS has been appointed as Additional Director on the Board w.e.f 19 May, 2017 and now he is appointed as Chairman of the Company w.e.f. 14 June 2017 vide Resolution by Circulation dated 15 June 2017.

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Monnet Ispat recovers on bargain hunting
Jun 20,2017

Meanwhile, the S&P BSE Sensex was up 63.67 points or 0.2% at 31,375.24. The S&P BSE Small-Cap index rose 74.84 points or 0.48% at 15,728.81.

On the BSE, 1.41 lakh shares were traded on the counter so far as against the average daily volumes of 1.19 lakh shares in the past one quarter. The stock had hit a high of Rs 33.25 and a low of Rs 28.95 so far during the day. The stock had hit a 52-week high of Rs 44.50 on 17 May 2017 and a 52-week low of Rs 19.25 on 9 December 2016.

The stock had underperformed the market over the past one month till 19 June 2017, sliding 26.76% compared with the Sensexs 2.78% rise. The stock had also underperformed the market over the past one quarter, declining 11.99% as against the Sensexs 5.61% rise. The scrip had, however, outperformed the market over the past one year, advancing 28.36% as against the Sensexs 17.6% rise.

The small-cap company has equity capital of Rs 200.77 crore. Face value per share is Rs 10.

Shares of Monnet Ispat & Energy had tanked 21.71% in the preceding four trading sessions to settle at Rs 30.10 yesterday, 19 June 2017, from its closing of Rs 38.45 on 13 June 2017 on media reports that the company has filed for bankruptcy.

Meanwhile, Monnet Ispat in a clarification issued to the stock exchanges after market hours on Friday, 16 June 2017 with regard to aforesaid media reports said that it has not filed for bankruptcy. The reference of Monnet Ispat & Energy in the article is with reference to Gupta Coal, which has filed for bankruptcy and also supplied coal to Monnet Ispat & Energy at some point of time, the company said.

Therefore, the provisions of Regulation 30 of Listing Regulations, 2015 do not apply on the company, with respect to the aforesaid news item, Monnet Ispat said.

Monnet Ispat & Energy reported net loss of Rs 459.52 crore in Q4 March 2017, higher than net loss of Rs 438.65 crore in Q4 March 2016. Net sales declined 6.7% to Rs 348.27 crore in Q4 March 2017 over Q4 March 2016.

Monnet Ispat & Energy operates in two segments viz. power and steel.

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Voith Paper Fabrics India to hold AGM
Jun 20,2017

Voith Paper Fabrics India announced that the 47th Annual General Meeting (AGM) of the company will be held on 6 July 2017.

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Oriental Bank of Commerce gets revision in ratings for Tier I & Tier II Bonds
Jun 20,2017

Oriental Bank of Commerce announced that Brickwork Ratings has revised the ratings in respect of the Banks Tier I and Tier II Bonds as under -

Upper Tier II Bonds (Rs 200 crore) - BWR A+ (Revised from BWR AA-)

Innovative Perpetual Debt Instruments - BWR A+ (Revised from BWR AA-)

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Fitch: Strongest World Growth Expected Since 2010
Jun 20,2017

The recovery in global growth is strengthening and is expected to pick up to 2.9% this year and peak at 3.1% in 2018, the highest rate since 2010, says Fitch Ratings in its latest Global Economic Outlook (GEO).

Faster growth this year reflects a synchronised improvement across both advanced and emerging market economies. Macro policies and tightening labour markets are supporting demand growth in advanced countries, while the turnaround in Chinas housing market since 2015 and the recovery in commodity prices from early 2016 has fuelled a rebound in emerging market demand, said Brian Coulton, Fitchs Chief Economist.

The biggest positive forecast revision since Fitchs March GEO is to the eurozone. Here, stronger incoming data, improving external demand and greater confidence that ECB QE is gaining traction on activity have resulted in an upward revision of 0.3pps to the 2017 eurozone growth forecast, taking it to 2%. The recent pick-up in world trade growth has also been striking.

However, this improving global picture implies an evolving monetary policy outlook. China has recently seen a tightening in credit conditions, which will start to have an impact on growth later this year and the Fed looks set to pursue a normalisation course at a rate of three or four hikes per year through 2019. Low core inflation allows the ECB to carry on with QE for the time being, but the reduction in deflation risks will see the programme phased out by mid-2018.

With the Fed now signalling that QE will start to be unwound later this year, these monetary policy adjustments could spark some volatility in global financial markets attuned to persistent monetary accommodation, added Coulton.

The changing impact of fiscal policy on growth in the advanced economies also remains an important factor behind the improved near-term outlook. Fiscal policy began to shift to a mild easing stance from 2016 in the US and the eurozone after several years of substantial fiscal tightening over 2011 to 2015. Fitchs analysis of multipliers suggests this shift has had a significant impact on growth dynamics in the advanced economies and seems likely to provide a further boost to growth over the next couple of years.

Demand growth in the larger emerging market economies is recovering strongly in 2017. Both Brazil and Russia have recently seen a return to positive real GDP growth rates and the latest data suggest consumption and investment is starting to pick up in Russia. Following very large declines in aggregate demand in the aftermath of sharp falls in commodity prices in 2014, there is now room for demand to recover in large emerging market commodity producers.

The two key downside risks identified last quarter - eurozone fragmentation risk and aggressive US-led protectionism - have not gone away but have certainly diminished somewhat in recent months, noted Coulton.

Emmanuel Macrons decisive victory in the French Presidential election, as well as his partys success in National Assembly elections, have eased concerns about anti-European and anti-euro sentiments gaining additional traction. Furthermore, despite tough rhetoric on trade in the election campaign, the US policy approach to reforming trade relations has not, so far, translated into aggressive unilateral measures. However, the lack of much visible progress to date on agreeing specific tax reform measures raises the risk that US fiscal policy may not be eased as much as anticipated in our baseline forecast.

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Cyient allots 6,500 equity shares
Jun 20,2017

Cyient has allotted 6,500 equity shares under Associate Stock Option Plan.

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Lanco Infratech plunges 33.6% in three sessions
Jun 20,2017

Meanwhile, the S&P BSE Sensex was up 49 points or 0.16% at 31,360.57. The S&P BSE Small-Cap index rose 62.14 points or 0.4% at 15,716.11.

On the BSE, 17.33 lakh shares were traded on the counter so far as against the average daily volumes of 6.60 lakh shares in the past one quarter. The stock had hit a high of Rs 1.76 so far during the day. The stock hit a low of Rs 1.70 so far during the day, which is a record low. The stock had hit a 52-week high of Rs 5.61 on 20 July 2016.

The stock had underperformed the market over the past one month till 19 June 2017, sliding 41.61% compared with the Sensexs 2.78% rise. The stock had also underperformed the market over the past one quarter, declining 47.19% as against the Sensexs 5.61% rise. The scrip had also underperformed the market over the past one year, declining 62.1% as against the Sensexs 17.6% rise.

The small-cap company has equity capital of Rs 331.41 crore. Face value per share is Rs 1.

Shares of Lanco Infratech (LITL) have tumbled 33.59% three trading sessions to its ruling market price, from its closing of Rs 2.56 on 15 June 2017. The stock tumbled by the maximum permissible level of 20% in a single trading session to settle at Rs 1.88 yesterday, 19 June 2017 after the company said on Saturday, 17 June 2017 that the central bank directed IDBI Bank to initiate insolvency process for the company.

The Reserve Bank of India (RBI) directed IDBI Bank, the lead bank of LITL to initiate Corporate Insolvency Resolution Process (CIRP) for LITL under the Insolvency and Bankruptcy Code, 2016.

On consolidated basis, Lanco Infratech reported net loss of Rs 584.73 crore in Q4 March 2017, higher than net loss of Rs 128.19 crore in Q4 March 2016. Net sales declined 4% to Rs 1982.68 crore in Q4 March 2017 over Q4 March 2016.

Lanco Infratech is an integrated infrastructure developer in India. The company has subsidiaries and divisions across multiple business verticals.

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SpiceJet soars after signing MoU with Boeing for planes
Jun 20,2017

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

Meanwhile, the S&P BSE Sensex was up 19.90 points, or 0.06%, to 31,331.47. The S&P BSE Mid-Cap index was up 54.90 points, or 0.37%, to 14,872.64.

On the BSE, 13.26 lakh shares were traded in the counter so far, compared with average daily volumes of 19.77 lakh shares in the past one quarter. The stock had hit a high of Rs 128.20 in intraday trade, which is also a record high for the stock. The stock had hit a low of Rs 126.50 so far during the day. The stock had hit a 52-week low of Rs 54.50 on 9 November 2016.

The stock has jumped 22.06% in twelve sessions to its ruling price of Rs 126.70, from a close of Rs 103.80 on 2 June 2017.

The stock had outperformed the market over the past one month till 19 June 2017, gaining 13.54% compared with 2.78% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 48.19% as against Sensexs 5.61% gains. The scrip had also outperformed the market in past one year, jumping 92.95% as against Sensexs 17.6% gains.

The mid-cap company has equity capital of Rs 599.45 crore. Face value per share is Rs 10.

SpiceJet said that 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 order will be posted to the Boeing Orders & Deliveries website once finalized.

Ajay Singh, Chairman and Managing Director, SpiceJet said with the introduction of 737 MAXs next year, the company will be able to further expand the network, while keeping costs low for customers.

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.

The 737 MAX 10 will be the most profitable single-aisle airplane, offering the lowest seat costs ever.

SpiceJets net profit fell 61.4% to Rs 41.64 crore on 11.4% rise in net sales to Rs 1613.83 crore in Q4 March 2017 over Q4 March 2016.

SpiceJet is an affordable airline company. SpiceJet operates 364 average daily flights to 46 destinations, including 39 domestic and 7 international ones. The airline connects its network with a fleet of 35 Boeing 737NG and 19 Bombardier Q-400s.

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V2 Retail gains after opening retail store in Ghazipur
Jun 20,2017

The announcement was made during market hours today, 20 June 2017.

Meanwhile, the S&P BSE Sensex was up 54.02 points, or 0.17% at 31,365.59. The S&P BSE Small-Cap index was up 59.19 points, or 0.38% at 15,713.13.

On the BSE, 4,769 shares were traded on the counter so far as against the average daily volumes of 39,532 shares in the past one quarter. The stock had hit a high of Rs 259.70 so far during the day, which is also its 52-week high. The stock hit a low of Rs 255 so far during the day. The stock had hit a 52-week low of Rs 51 on 20 June 2016.

The stock had outperformed the market over the past one month till 19 June 2017, advancing 23.24% compared with the Sensexs 2.78% rise. The scrip had also outperformed the market over the past one quarter advancing 31.04% as against the Sensexs 5.61% rise. The scrip had also outperformed the market over the past one year advancing 389.39% as against the Sensexs 17.6% rise.

The small-cap company has equity capital of Rs 30.92 crore. Face value per share is Rs 10.

V2 Retail said that currently 39 retail stores of the company are operational.

V2 Retail reported net loss of Rs 1.75 crore in Q4 March 2017, compared with net loss of Rs 2.48 crore in Q4 March 2016. Net profit rose 35% to Rs 107.20 crore in Q4 March 2017 over Q4 March 2016.

V2 Retail is one of the fastest growing retail groups in India.

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Polaris Consulting & Services to hold board meeting
Jun 20,2017

Polaris Consulting & Services will hold a meeting of the Board of Directors of the Company on 7 August 2017.

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BF Investment to hold board meeting
Jun 20,2017

BF Investment will hold a meeting of the Board of Directors of the Company on 28 June 2017.

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