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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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Gillette India hits 52-week high after good Q3 results
May 09,2017

Meanwhile, the S&P BSE Sensex was up 18.22 points, or 0.06% at 29,944.37.

On the BSE, 4,390 shares were traded on the counter so far as against the average daily volumes of 8,467 shares in the past one quarter. The stock had hit a high of Rs 5,008.60 so far during the day, which is also its 52-week high. The stock had hit a low of Rs 4,802.70 so far during the day.

The stock had hit a 52-week low of Rs 4,025 on 28 February 2017. The stock had outperformed the market over the past one month till 8 May 2017, advancing 15.87% compared with the Sensexs 0.74% rise. The scrip had also outperformed the market over the past one quarter advancing 15.13% as against the Sensexs 5.78% rise.

The large-cap company has equity capital of Rs 32.59 crore. Face value per share is Rs 10.

Shares of Gillette India have rallied 12.47% in two trading sessions from its close of Rs 4,408.55 on 5 May 2017, after the company on Saturday, 6 May 2017 reported good Q3 March 2017 results. The stock had surged 9.09% to settle at Rs 4,809.20 yesterday, 8 May 2017.

Gillette Indias net profit rose 30.5% to Rs 105.82 crore on 15.9% increase in net sales to Rs 524.89 crore in Q3 March 2017 over Q3 March 2016.

Gillette India is engaged in the manufacturing and sale of branded packaged fast moving consumer goods in the grooming and oral care businesses.

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Bharti Infratel gains after Q4 results
May 09,2017

The result was announced after market hours yesterday, 8 May 2017.

Meanwhile, the S&P BSE Sensex was up 31.14 points, or 0.10% to 29,957.29.

On the BSE, 94,557 shares were traded in the counter so far, compared with average daily volumes of 71.99 lakh shares in the past one quarter. The stock had hit a high of Rs 370.70 and a low of Rs 356 so far during the day.

The stock hit a 52-week high of Rs 412.55 on 28 July 2016. The stock hit a 52-week low of Rs 283.10 on 28 February 2017.

The stock had outperformed the market over the past one month till 8 May 2017, rising 4.75% compared with 0.74% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 20.54% as against Sensexs 5.61% rise.

The large-cap company has equity capital of Rs 1849.61 crore. Face value per share is Rs 10.

Consolidated EBITDA (earnings before interest, taxes, depreciation and amortization) rose 8% to Rs 1585 crore in Q4 March 2017 over Q4 March 2016.

On a consolidated basis, Bharti Infratels net profit rose 22.23% to Rs 2747 crore on 9.47% increase in net sales to Rs 6084.70 crore in the year ended March 2017 over the year ended March 2016.

Consolidated EBITDA rose 9% to Rs 5942 crore in the year ended March 2017 over the year ended March 2016.

Bharti Infratel is one of the leading providers of tower and related infrastructure. It deploys, owns and manages telecom towers and communication structures, for various mobile operators.

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Salona Cotspin to hold board meeting
May 09,2017

Salona Cotspin will hold a meeting of the Board of Directors of the Company on 15 May 2017.

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Board of Shilchar Technologies recommends final dividend
May 09,2017

Shilchar Technologies announced that the Board of Directors of the Company at its meeting held on 6 May 2017, inter alia, have recommended the final dividend of Rs 3 per equity Share (i.e. 30%) , subject to the approval of the shareholders.

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Board of Nitin Spinners recommends final dividend
May 09,2017

Nitin Spinners announced that the Board of Directors of the Company at its meeting held on 6 May 2017, inter alia, have recommended the final dividend of Rs 1.2 per equity Share (i.e. 12%) , subject to the approval of the shareholders.

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Board of Indo Thai Securities recommends final dividend
May 09,2017

Indo Thai Securities announced that the Board of Directors of the Company at its meeting held on 6 May 2017, inter alia, have recommended the final dividend of Rs 1 per equity Share (i.e. 10%) , subject to the approval of the shareholders.

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Vinayak Vanijya to hold EGM
May 09,2017

Vinayak Vanijya announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 29 May 2017 .

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Board of Choksi Imaging recommends final dividend
May 09,2017

Choksi Imaging announced that the Board of Directors of the Company at its meeting held on 5 May 2017, inter alia, have recommended the final dividend of Rs 0.75 per equity Share (i.e. 7.5%) , subject to the approval of the shareholders.

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Board of Gillette India recommends special dividend
May 09,2017

Gillette India announced that the Board of Directors of the Company at its meeting held on 6 May 2017, inter alia, have recommended the special dividend of Rs 154 per equity Share (i.e. 1540%) , subject to the approval of the shareholders.

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Board of Apcotex Industries recommends final dividend
May 09,2017

Apcotex Industries announced that the Board of Directors of the Company at its meeting held on 5 May 2017, inter alia, have recommended the final dividend of Rs 4.5 per equity Share (i.e. 90%) , subject to the approval of the shareholders.

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Victoria Mills to hold AGM
May 09,2017

Victoria Mills announced that the 104th Annual General Meeting (AGM) of the company will be held on 27 September 2017.

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Mangalam Drugs gains after good Q4 result
May 09,2017

The result was announced after market hours yesterday, 8 May 2017.

Meanwhile, the BSE Sensex was up 32.18 points, or 0.11%, to 29,958.33. The BSE Small-Cap index was up 91.93 points, or 0.59% to 15,554.51.

On the BSE, so far 44,000 shares were traded in the counter, compared with average daily volumes of 40,436 shares in the past one quarter. The stock had hit a high of Rs 202 and a low of Rs 196 so far during the day. The stock hit a 52-week high of Rs 239.90 on 10 May 2016. The stock hit a 52-week low of Rs 122.90 on 22 November 2016.

The stock had outperformed the market over the past one month till 8 May 2017, rising 31.55% compared with 0.74% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 22.58% as against Sensexs 5.61% rise.

The small-cap company has equity capital of Rs 15.83 crore. Face value per share is Rs 10.

Mangalam Drugs & Organics manufactures active pharma ingredients (APIs), intermediates and specialty chemicals.

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Ind-Ra: InvITs To Potentially Deleverage Infrastructure Sector by around INR130 Billion in FY18
May 09,2017

The first four infrastructure investment trusts (InvITs) which are likely to hit the primary markets in FY18 could reduce the overall debt of sponsor groups by close to INR130 billion; thereby providing cash flow relief to the beleaguered sector, says India Rating and Research (Ind-Ra). The companies which are likely to deleverage by using the InvIT route in FY18 are Sterlite Power Grid Ventures (SPGVL, IND A/Stable), Reliance Infrastructures (R-Infra, IND A+/Rating Watch Negative) and IL&FS Transportation Networks (ITNL, IND A/Negative) and the recently closed issue of IRB Infrastructure Developers (IRBIDL, IND A-/Rating Watch Positive).

InvITs will enable infrastructure developers to deleverage their balance sheets and refinance remaining debt (potentially INR36 billion) at lower costs. Deleveraging will provide a fillip to the coverage metrics of SPVs housed under the InvIT structures and refinancing (through bond/bank loans) and will further improve the credit profile of InvITs.

Ind-Ra had highlighted in the report Softened Interest Rates Likely to Brighten Solar Sector that bank financing to the infrastructure sector has been declining, which makes it imperative for investors and developers to scout for alternate sources of funding such as masala bonds, InvITs among others. The current low interest rates regime is favourable for the bond market as well as InvITs.

InvITs would allow infrastructure developers to not only deleverage their balance sheets but also refinance remaining debt at lower interest rates. InvIT structures have robust debt service coverage ratios, and refinancing will further improve the credit profile of InvITs.

Ind-Ra has been a pioneer in rating InvITs and also has been the first to rate the first InvIT which has hit the primary market. Ind-Ra has rated both InvITs which have / are expected to hit the primary markets this month namely - IRB InvIT Fund (IRB InvIT, IND AAA/Stable) and India Grid Trust (IndiGrid, IND AAA/Stable).

Post issuance, Ind-Ra estimates IRB InvITs consolidated external debt would be INR7,704.55 million on 31 March 2017. The rating on IRB InvIT is a reflection of the combined credit quality of the underlying assets. Ind-Ra expects significant deleveraging (77.5% of the INR35.13 billion debt on 31 December 2016) of the operational toll road projects post receipt of subscription proceeds, resulting in robust coverage metrics and favourable gearing. The overall operational track record of the combined portfolio (around 4.5 years) and highly fungible cash flows of InvIT structure bolster the overall credit profile. IRB InvITs cash flows show considerable resilience to stress cases, reflecting ample cushion for timely debt servicing in potential downside scenarios. The debt infused by IRB InvIT in the SPVs shall be subordinate to the external debt and IRB InvIT shall not have a right to call an event of default under any project documents and/or any financial documents until the external debt is fully paid off.

SPGVL has floated an InvIT called India Grid Trust (IndiGrid) and is planning to hive off Sterlite Grid1 Limited (SGL1) under the trust. SGL1 holds the two operating transmission assets - Bhopal Dhule Transmission Company Limited (BDTCL) and Jabalpur Transmission Company Limited (JTCL), which are the initial portfolio assets. Subscription to IndiGrids units will be raised in a process similar to an initial public offer for raising equity funds by companies. BDTCL plans to mobilise INR7.2bn non-convertible debentures with a tenor of five years. The proceeds from units will be used to retire the existing bank loans and promoters sub-debt in BDTCL and JTCL. Post the issuance, SPGVL is likely to hold 15%-25% of IndiGrid, depending on the valuation/subscription by other investors.

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Tata Sponge Iron gets Environment Clearance for enhancement of DRI Production
May 09,2017

Tata Sponge Iron has received an Environment Clearance from Ministry of Environment, Forest & Climate Change, Govt. of India for enhancement of DRI Production by 35000 TPA from 3,90,000 TPA to 4,25,000 TPA in the existing facility located at Bileipada, District Keonjhar, Odisha.

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Bank of India announces appointment of MD & CEO
May 09,2017

Bank of India announced that Dinabandhu Mohapatra has taken over as Managing Director & CEO of Bank of India on 05 May 2017.

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