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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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Realty stocks nudge higher as FM says affordable housing to get infrastructure status
Feb 01,2017

Unitech (up 3.31%), Prestige Estates Projects (up 2.58%), Oberoi Realty (up 2.49%), Godrej Properties (up 1.9%), D B Realty (up 1.63%), DLF (up 1.48%), Indiabulls Real Estate (up 1.39%), Sobha (up 0.98%) and Housing Development and Infrastructure (up 1.04%) gained.

Meanwhile, the S&P BSE Sensex was up 19.64 points or 0.07% at 27,675.60.

Jaitley in his Budget speech today, 1 February 2017, said that affordable housing to be given infrastructure status. The National Housing Finance will insure houses, Jaitley said. The real estate sector was among the most hit sectors due to the recent governments demonetisation drive banning higher denomination bank notes.

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Board of Sterling International Enterprises to consider December quarter results
Feb 01,2017

Sterling International Enterprises announced that the meeting of the Board of Directors of the Company is scheduled to be held on 13 February 2017, to review and consider and adopt the Unaudited Financial Results for the period ended on 31 December 2016, along with the Limited Review Report of the Statutory Auditor thereon.

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Shyamal Holdings & Trading to consider December quarter results
Feb 01,2017

Shyamal Holdings & Trading announced that the meeting of the Board of Directors of the Company is scheduled to be held on 10 February 2017, to review and consider and adopt the Unaudited Financial Results for the period ended on 31 December 2016, along with the Limited Review Report of the Statutory Auditor thereon.

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IEC Education to consider December quarter results
Feb 01,2017

IEC Education announced that the meeting of the Board of Directors of the Company is scheduled to be held on 11 February 2017, to discuss and approve unaudited Quarterly Financial Results of the Company along with the Limited Review Report for the Quarter ended 31 December 2016.

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Board of NRB Industrial Bearings to consider December quarter results
Feb 01,2017

NRB Industrial Bearings announced that a meeting of the Board of Directors of the Company is scheduled to be held on 11 February 2017, inter alia, to consider and approve the unaudited financial results of the Company for the Quarter ended 31 December 2016.

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Board of Thakral Services (India) to consider December quarter results
Feb 01,2017

Thakral Services (India) announced that a meeting of the Board of Directors of the Company will be held on 14 February 2017, to consider and take on record, amongst other things, the unaudited financial results of the Company for the quarter ended 31 December 2016.

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Avon Mercantile to consider December quarter results
Feb 01,2017

Avon Mercantile announced that a Meeting of the Board of Directors of the Company will be held on 13 February 2017, to consider and take on record the Unaudited financial results for the quarter ended on 31 December 2016.

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Board of Virgo Polymer (India) to consider December quarter results
Feb 01,2017

Virgo Polymer (India) announced that the meeting of the Board of Directors of the Company is scheduled to be held on 14 February 2017, to consider & approve the unaudited financial results for the quarter ended 31 December 2016.

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Subhash Silk Mills cancels board meeting for adoption of financial results
Feb 01,2017

Subhash Silk Mills announced that the Company have cancelled its Board Meeting proposed to be held on 02 February 2017 for adoption of Unaudited Financial Results.

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Kalindee Rail Nirman (Engineers) fixes record date for scheme of amalgamation
Feb 01,2017

Kalindee Rail Nirman (Engineers) announced that the Board of Directors of the Company at its Meeting held on 30 January 2017, has fixed the record date as 10 February 2017, in terms of the Scheme of Amalgamation between the Company and Texmaco Rail & Engineering (Texmaco) and their respective shareholders and creditors, for determining the entitlement of the Equity Shareholders of the Company to receive 106 Equity Shares of Rs.1 each of the Texmaco against every 100 Equity Shares of the Company of Rs. 10/- each held by them in the Company.

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Footwear makers gain as FM announces special scheme for leather & footwear sector
Feb 01,2017

Liberty Shoes (up 3.39%), Relaxo Footwear (up 1.87%) and Bata India (up 0.53%) edged higher.

Meanwhile, the S&P BSE Sensex was up 1.24 points at 27,657.20.

Jaitley in his Budget speech today, 1 February 2017, said that 5 special tourism zones are proposed to be set up to give a boost to leather industry.

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Banks Raise INR180 billion in Additional Tier 1 Bonds in FY17
Feb 01,2017

Indian banks raised INR180 billion in perpetual bonds or Additional Tier-1 (AT1) bonds in FY17, while for public sector banks (PSBs) the capital raised goes towards meeting Basel III regulatory requirements, for private banks the capital raised is focused towards fueling their growth aspirations, says India Ratings and Research (India Ratings). India Ratings believes the softening of yields have given an impetus to the development of the AT1 markets. India Ratings rated around 65% of the AT1 issuances in FY17 based on its objective criteria based approach.

India Ratings has an objective criteria to rate AT1 bonds. The criteria is designed premised on the three ways in which an investor in an AT1 instrument can make a potential loss. It uses the notching down from the standalone rating profile approach. The three pillars of the AT1 ratings criteria are:

n++ Discretion of the Issuer - compulsory notch to differentiate from a senior instrument

n++ Principal Write-down - relative capital requirement over FY19

n++ Coupon Omission- minimum number of years of coupon service through FY19, on the projected AT1 borrowing

For AT1 instruments, the agency considers the discretionary component, coupon omission risk and write-down/conversion risk as key parameters to arrive at the final rating. The agency recognises the unique going-concern loss absorption features that these bonds carry and differentiates them from the banks senior debt, thus factoring in a higher probability of an ultimate loss for investors in these bonds.

Effectively the risks associated with an AT1 instrument are: 1) the issuing bank has the discretion to skip coupon payment, 2) the bank has to maintain a common equity tier I ratio of at least 5.5% (till FY19), failing which the bonds can be write-downs (temporary or permanent) and 3) in some cases there could be a clause to convert it into equity as well.

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Agri-related stocks gain on budget incentives
Feb 01,2017

Dhanuka Agritech (up 3.73%), Jain Irrigation Systems (up 2.48%), P I Industries (up 2.29%), Escorts (up 1.93%), Monsanto India (up 1.1%), Rallis India (up 0.71%), Kaveri Seed Company (up 0.88%), UPL (up 0.68%), Mahindra & Mahindra (up 0.61%) and VST Tillers Tractors (up 0.25%) edged higher.

Meanwhile, the S&P BSE Sensex was down 3.61 points or 0.01% at 27,652.35.

Jaitley in his Budget speech today, 1 February 2017, said the government is committed to double the farmers income in the coming 5 years. Indias Agriculture will grow at 4.1% in 2016-2017. Rs 10 lakh crore has been provided to farmers as credit. Coverage under Pradhan Mantri Fasal Bima Yojana will be increased from 30% to 40% in 2017-18 and 50% in 2018-19.

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Nominal GDP estimated to grow at 10.0 per cent during 2015-16 as against 10.7 per cent during 2014-15
Feb 01,2017

The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation has released the First Revised Estimates of National Income, Consumption Expenditure, Saving and Capital Formation for the financial year 2015-16 (with Base Year 2011-12) as per the revision policy. Second Revised Estimates for the year 2014-15 and Third Revised Estimates for the years 2012-13 and 2013-14 have also been released as per the calendar of revision of base year. Estimates for the year 2011-12 remain unchanged.

The First Revised Estimates for the year 2015-16 have been compiled using industry-wise/institution-wise detailed information instead of using the benchmark-indicator method employed at the time of release of Provisional Estimates on 31st May, 2016. The estimates of GDP and other aggregates for the years 2012-13 to 2014-15 have also undergone revision due to use of latest available data on agricultural production; industrial production especially those based on the provisional results of Annual Survey of Industries (ASI): 2014-15 and final results of ASI: 2013-14; government expenditure (replacing Revised Estimates with Actuals for the year 2014-15) and also more comprehensive data available from various source agencies and State/UT Directorates of Economics and Statistics.

The salient features of the estimates at aggregate level are indicated below:

Gross Domestic Product

Nominal GDP or GDP at current prices for the year 2015-16 is estimated as Rs. 136.75 lakh crore while that for the year 2014-15 is estimated as Rs. 124.34 lakh crore, exhibiting a growth of 10.0 per cent during 2015-16 as against 10.7 per cent during 2014-15.

Real GDP or GDP at constant (2011-12) prices for the years 2015-16 and 2014-15 stands at Rs. 113.58 lakh crore and Rs. 105.23 lakh crore, respectively, showing growth of 7.9 per cent during 2015-16 and 7.2 per cent during 2014-15.  

Industry-wise Analysis 

The changes in the Gross Value Added (GVA) at basic prices in different sectors of the economy at current and constant (2011-12) prices are presented in Statements 4.1 and 4.2 respectively. At the aggregate level, nominal GVA at basic prices increased by 8.6 per cent during 2015-16 as against 10.7 per cent during 2014-15. In terms of real GVA, i.e., GVA at constant (2011-12) basic prices, there has been a growth of 7.8 per cent in 2015-16, as against growth of 6.9 per cent in 2014-15.  

The shares of different sectors of the economy in terms of overall GVA during 2011-12 to 2015-16 and corresponding annual growth rates are mentioned below: 

SectorPercentage share in GVA at current pricesPercentage change in GVA at constant (2011-12) prices over the previous year2011-122012-132013-142014-152015-162012-132013-142014-152015-16Primary 21.7521.3621.5020.7619.831.25.21.82.6Secondary29.2828.6327.9027.3927.203.94.36.17.8Tertiary48.9750.0150.6051.8552.978.37.79.59.8All100.00100.00100.00100.00100.005.46.26.97.8Aggregate GVA (Rs. in lakh crore)at current pricesat constant pricesTotal 81.0792.05103.66114.70124.5285.4890.7997.09104.70

The growth in real GVA during 2015-16 has been higher than that in 2014-15 mainly due to higher growth in Gagriculture, forestry & fishing (0.8%), Gmanufacturing (10.6%), Gtrade, repair, hotels & restaurants (11.6%), Gtransport, storage, communication & services related to broadcasting (9.1%) and Greal estate, ownership of dwelling & professional services (12.6%), as may be seen from Statement 4.2. During 2015-16, at constant prices, the growth rates of primary (comprising agriculture, forestry, fishing and mining & quarrying), secondary (comprising manufacturing, electricity, gas, water supply & other utility services, and construction) and tertiary (services) sectors have been estimated as 2.6 per cent, 7.8 per cent and 9.8 as against a growth of 1.8 per cent, 6.1 per cent and 9.5 per cent, respectively, in the previous year. 

Net National Income

Nominal Net National Income (NNI) at current prices for the year 2015-16 stands at Rs. 120.83 lakh crore as against Rs. 109.61 lakh crore in 2014-15, showing an increase of 10.2 per cent during 2015-16 as against an increase of 10.7 per cent in the previous year.  

Gross National Disposable Income

Gross National Disposable Income (GNDI) at current prices is estimated as Rs. 139.29 lakh crore for the year 2015-16, while the estimate for the year 2014-15 stands at Rs. 126.91 lakh crore, showing a growth of 9.7 per cent as against 10.4 per cent in the year 2014-15.  

Saving

Gross Saving during 2015-16 is estimated as Rs. 44.05 lakh crore as against Rs. 40.98 lakh crore during 2014-15. Rate of Gross Saving to GNDI for the year 2015-16 is estimated as 31.6 per cent as against 32.3 per cent, estimated for 2014-15.  

The highest contributor to Gross Saving is the household sector, with a share of 59.2 per cent in the year 2015-16. However, the share has declined from 62.0 per cent in 2014-15 to 59.2 per cent in 2015-16. This decline can be attributed to decline in household savings in physical assets, which has declined from Rs. 15.78 lakh crore in 2014-15 to Rs. 14.84 lakh crore in 2015-16. On the other hand, the share of Non-Financial Cor

Firstsource gains after signing 10-year outsourcing deal with Sky
Feb 01,2017

The announcement was made after market hours yesterday, 31 January 2017.

Meanwhile, the S&P BSE Sensex was up 27.32 points or 0.1% at 27,683.28

On the BSE, 3.98 lakh shares were traded on the counter so far as against the average daily volumes of 4.05 lakh shares in the past two weeks. The stock had hit a high of Rs 41.75 and a low of Rs 40.15 so far during the day. The stock had hit a 52-week high of Rs 53.65 on 26 July 2016 and a 52-week low of Rs 28.85 on 17 February 2016.

The small-cap company has equity capital of Rs 678.04 crore. Face value per share is Rs 10.

Firstsource Solutions said that Firstsource Solutions UK (FS UK), a wholly owned subsidiary of the company and Sky Subscriber Services, UK (Sky UK) has signed the contract for the previously announced 10-year strategic partnership. The letter of intent was signed on 18 July 2016. The agreement follows a strategic review conducted by Sky UK to consolidate their partner network and have decided to make FS UK their single preferred partner for their core TV and broadband services across their estate.

On a consolidated basis, Firstsource Solutions net profit fell 1.75% to Rs 70.01 crore on 0.23% rise in total income to Rs 886.82 crore in Q3 December 2016 over Q2 September 2016.

Firstsource Solutions is a global provider of customised BPM (Business Process Management). It operates in India, the Philippines, Sri Lanka, the UK and the US.

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