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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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Ind-Ra: Cement Volumes Crack; Credit Profile of Cement Manufacturers Intact
Apr 05,2017

The lagged impact of the cash crunch and electoral polls will take a toll on cement production in Q4FY17, latest data shows cement volumes in February 2017 declined the most in over a decade by 15.8% yoy, says India Ratings and Research (India Ratings). Volumes have declined by 5% mom. India Ratings notes that the decline in cement growth is also on account of a high base last year; during January-March 2016 cement production grew by 9.2%, 13.5% and 11.9% yoy respectively. India Ratings estimates cement production to be muted in 4QFY17.

On the prices front, the wholesale price index of grey cement and slag cement has shown a softening trend through November 2016-Janaury 2017. Cement players got some respite on the cost front, with pet-coke and coal prices showing moderation in January and February 2017, after pet-coke prices almost doubled since March 2016.

Volumes of pan India cement players in 3QFY17 contracted by 5% yoy; while for central and north based players fell by 3% and 6% respectively. The southern region in contrast showed strong volume growth of 21%. Growth in the southern region is led by an increased in government expenditure in the state of Andhra Pradesh and Telangana.

India Ratings analysis of the financials of cement companies in 3QFY17 showed, pan-India players median EBITDA per tonne declined marginally in 3QFY17 compared to 2QFY17; though remained comfortable at around INR975 per tonne; while median power and fuel and freight cost per tonne in 3QFY17 increased from 2QFY17 levels to INR977 and INR1,217 respectively. While the rest of Indias players median EBITDA per tonne declined QoQ in 3QFY17 to INR878; while power and fuel and freight cost per tonne in 3QFY17 declined marginally to INR771 and INR867 respectively. India Ratings expects pan-India players EBITDA per tonne to remain comfortable at around INR975-INR1,000; while players with a presence in rest of Indias EBITDA per tonne to be around INR850-875 in FY18.

The credit profile, in terms of EBITDA interest coverage for pan-India players declined marginally in 3QFY17; however remained comfortable at around 11x; though rest of India cement players EBITDA interest coverage ratio was stable at around 2x at the end of 3QFY17.

On the policy front, due to the recent measures announced by the Ministry of Railways that require long term agreements/contracts for industries like cement, steel and fertilisers cement companies may see improvement in demand. As per the policy, the Ministry of Railways will provide a minimum guaranteed volume linked discount, on the basis of incremental growth in gross freight revenue, in return for a commitment to provide a minimum guaranteed quantity of traffic. The discounts will range from 1.5% to 35%, as per the incremental growth in gross freight revenue. India Ratings believes that these initiatives will increase the transport of cement through rail and cement manufacturers will be able to control freight cost more effectively. However, Ind-Ra notes that rake availability during peak season and railway network are likely to act as constraint to this policy.

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Sobha leads gainers in A group
Apr 05,2017

Sobha jumped 20% to Rs 411.90 at 13:51 IST. The stock topped the gainers in the BSEs A group. On the BSE, 3.26 lakh shares were traded on the counter so far as against the average daily volumes of 77,000 shares in the past two weeks.

Godrej Properties surged 9.8% to Rs 441.35. The stock was the second biggest gainer in A group. On the BSE, 1.82 lakh shares were traded on the counter so far as against the average daily volumes of 36,000 shares in the past two weeks.

Den Networks gained 7.75% at Rs 91.10. The stock was the third biggest gainer in A group. On the BSE, 1.03 lakh shares were traded on the counter so far as against the average daily volumes of 49,000 shares in the past two weeks.

PVR advanced 7.85% at Rs 1,552.50. The stock was the fourth biggest gainer in A group. On the BSE, 27,000 shares were traded on the counter so far as against the average daily volumes of 17,000 shares in the past two weeks.

Unitech rose 7.3% to Rs 5.44. The stock was the fifth biggest gainer in A group. On the BSE, 68.66 lakh shares were traded on the counter so far as against the average daily volumes of 57.19 lakh shares in the past two weeks.

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Idea Cellular advances after getting RBI nod for payments bank
Apr 05,2017

The announcement was made during market hours today, 5 April 2017.

Meanwhile, the S&P Sensex was up 24.49 points or 0.08% at 29,934.71.

On the BSE, 12.86 lakh shares were traded on the counter so far as against the average daily volumes of 60.72 lakh shares in the past one quarter. The stock had hit a high of Rs 87.80 and a low of Rs 85.05 so far during the day.

The stock had hit a 52-week high of Rs 128.05 on 28 April 2016 and a 52-week low of Rs 66 on 9 November 2016. The stock had underperformed the market over the past one month till 3 April 2017, dropping 23.19% compared with the Sensexs 3.74% rise. The scrip had, however, outperformed the market over the past one quarter, gaining 15.66% as against the Sensexs 12.26% rise.

The large-cap company has equity capital of Rs 3605.33 crore. Face value per share is Rs 10.

Idea Cellular is holding 49% of the equity capital in Aditya Birla Idea Payments Bank (ABIPBL) and balance 51% of the equity capital is held by Aditya Birla Nuvo.

Shares of Aditya Birla Nuvo gained 1.99% to Rs 1,549.10.

On consolidated basis, Idea Cellular reported a net loss of Rs 383.88 crore in Q3 December 2016 compared with net profit of Rs 659.36 crore in Q3 December 2015. Net sales declined 3.7% to Rs 8660.74 crore in Q3 December 2016 over Q3 December 2015.

Idea Cellular is one of the leading telecom operators in India.

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Nila Infrastructures advances after securing work order
Apr 05,2017

The announcement was made on Tuesday, 4 April 2017, when the stock markets were shut on account of local holiday.

Meanwhile, the S&P BSE Sensex was up 28.12 points or 0.09% at 29,938.34. The BSE Small-Cap index was up 160.95 points or 1.1% at 14,781.18.

On the BSE, 5.77 lakh shares were traded on the counter so far as against the average daily volumes of 6.54 lakh shares in the past one quarter. The stock had hit a high of Rs 18.50 and a low of Rs 17.40 so far during the day.

The stock had hit a record high of Rs 19.90 on 6 February 2017 and a 52-week low of Rs 10.25 on 24 June 2016. The stock had underperformed the market over the past 30 days till 3 April 2017, falling 0.29% compared with Sensexs 3.74% rise. The scrip, however, outperformed the market in past one quarter, rising 16.08% as against Sensexs 12.26% gain.

The small-company has equity capital of Rs 39.34 crore. Face value per share is Re 1.

Nila Infrastructures said that with the latest order win, the company has forayed into yet another activity within civic urban infrastructure. AMC intends to construct a majestic community hall with all the latest amenities for the benefit of its citizens. The hall could be used for social, religious, and other general community purpose. The project involves built up construction of about 6000 sq. mtrs. and shall be completed within 24 months at an envisaged cost of Rs 15.57 crore.

Nila Infrastructures net profit rose 24.7% to Rs 5.61 crore on 17.7% growth in net sales to Rs 50.76 crore in Q3 December 2016 over Q3 December 2015.

Nila Infrastructures is engaged in developing civic urban infrastructure projects on EPC, turnkey, PPP mode, as well as private white label construction and Industrial infrastructure projects.

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Bank of Baroda reviews MCLR rates
Apr 05,2017

Bank of Baroda has reviewed its MCLR rates effective 07 April 2017 as under -

Overnight - 8.10%
One month - 8.15%
Three month - 8.20%
Six month - 8.30%
One year - 8.35%
Three year - 8.50%
Five year - 8.65%

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V-Guard Industries to hold board meeting
Apr 05,2017

V-Guard Industries will hold a meeting of the Board of Directors of the Company on 19 May 2017 Accounts,Quarterly Results

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India and the UK announce joint UK-India Fund, namely a Green Growth Equity Fund
Apr 05,2017

India and the UK announced the launch of an Early Market Engagement for the joint UK-India Fund, namely a Green Growth Equity Fund which aims to leverage private sector investment from the City of London to invest in green infrastructure projects in India.

Both governments reaffirmed their commitment to anchor invest up to n++120 million each (i.e. totally n++ 240 million) in the joint fund which will be established under the NIIF framework. To begin with, the fund aims to raise around n++500 million, with the potential to unlock much more in future. This was announced at the bilateral meeting between Shri Arun Jaitley, the Honble Minister of Finance, Defence and Corporate Affairs, Government of India, and Rt Hon Philip Hammond MP, Chancellor of the Exchequer, Government of UK in Delhi yesterday. The two Finance Ministers announced that initial investments will focus on Indias rapidly growing green energy and renewable market and that a Fund Manager is expected to be selected in the next few months. Progress will be accelerated through early market engagement via the publication of a blueprint, with the aim to identify additional and complementary sectors for fund investments.

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Reliance Industries allots 55,970 equity shares
Apr 05,2017

Reliance Industries has allotted 55,970 equity shares of Rs.10/- each, on 03 April 2017 pursuant to the Employees Stock Option Scheme

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Volumes jump at Cholamandalam Investment and Finance Company counter
Apr 05,2017

Cholamandalam Investment and Finance Company clocked volume of 7.86 lakh shares by 12:40 IST on BSE, a 31.05-times surge over two-week average daily volume of 25,000 shares. The stock rose 0.89% to Rs 979.55.

Titan Company notched up volume of 5.24 lakh shares, a 9.39-fold surge over two-week average daily volume of 56,000 shares. The stock surged 5.79% to Rs 487.05.

Centrum Capital saw volume of 63.02 lakh shares, a 8.29-fold surge over two-week average daily volume of 7.6 lakh shares. The stock jumped 15.57% to Rs 40.45.

Prakash Industries clocked volume of 15.32 lakh shares, a 6.64-fold surge over two-week average daily volume of 2.31 lakh shares. The stock surged 6.33% to Rs 85.65.

Crompton Greaves Consumer Electricals saw volume of 31.08 lakh shares, a 6.62-fold rise over two-week average daily volume of 4.69 lakh shares. The stock dropped 1.58% to Rs 221 after a bulk deal of 20.09 lakh shares was executed on the scrip at Rs 221 per share at 10:19 IST on BSE.

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SVOGL Oil Gas & Energy to hold board meeting
Apr 05,2017

SVOGL Oil Gas & Energy will hold a meeting of the Board of Directors of the Company on 7 April 2017 to consider and Approve the following Unpublished price sensitive information : Change in Company Secretary/Compliance Officer/Key Managerial personnel Further, pursuant to the SEBI (Prohibition of Insider Trading) Regulations 2015.

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Arshiya to hold EGM
Apr 05,2017

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

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Shrenuj & Company to hold AGM
Apr 05,2017

Shrenuj & Company announced that the th Annual General Meeting(AGM) of the company on 24 April 2017.

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NMDC crawls up after keeping iron ore prices flat for April
Apr 05,2017

The announcement was made after market hours on Monday, 3 April 2017.

Meanwhile, the S&P BSE Sensex was up 32.81 points or 0.11% at 29,943.03.

On the BSE, 1.5 lakh shares were traded on the counter so far as against the average daily volumes of 3.22 lakh shares in the past one quarter. The stock had hit a high of Rs 136.80 and a low of Rs 134.50 so far during the day. The stock had hit a 52-week high of Rs 152.50 on 2 March 2017 and a 52-week low of Rs 85.30 on 2 June 2016.

The stock had underperformed the market over the past one month till 3 April 2017, falling 8.62% compared with the Sensexs 3.74% rise. The scrip had also underperformed the market over the past one quarter, gaining 2.57% as against the Sensexs 12.26% rise.

The large-cap company has equity capital of Rs 316.39 crore. Face value per share is Re 1.

NMDC said that its lump ore prices were kept constant at Rs 2425 per wet metric tonne (WMT) in April 2017. Price of fine iron ore kept unchanged at Rs 2185 per WMT for April 2017.

NMDCs net profit rose 41.33% to Rs 595.16 crore on 64.6% growth in net sales to Rs 2497.86 crore in Q3 December 2016 over Q3 December 2015.

NMDC is Indias largest public sector iron ore producer. As per the shareholding pattern, Government of India (GoI) holds 74.94% stake in NMDC as on 31 December 2016.

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Gufic Biosciences jumps as board approves amalgamation of Gufic Lifesciences
Apr 05,2017

The announcement was made after market hours on Monday, 3 April 2017.

Meanwhile, the S&P Sensex was up 23.82 points, or 0.08% at 29,934.04. The S&P BSE Small-cap index was up 152.47 points, or 1.04% at 14,772.70.

On the BSE, 92,000 shares were traded on the counter so far as against the average daily volumes of 1.24 lakh shares in the past one quarter. The stock had hit a high of Rs 70.95 and a low of Rs 67.70 so far during the day.

The stock had hit a record high of Rs 72.50 on 28 March 2017 and a 52-week low of Rs 33.30 on 29 September 2016. The stock had outperformed the market over the past one month till 3 April 2017, advancing 20.07% compared with the Sensexs 3.74% rise. The scrip had also outperformed the market over the past one quarter advancing 18.17% as against the Sensexs 12.26% rise.

The small-cap company has equity capital of Rs 7.74 crore. Face value per share is Rs 1.

Gufic Biosciences announced that its board at a meeting held on Monday, 3 April 2017, approved the amalgamation of Gufic Lifesciences with the company. The share exchange ratio shall be approved by the board of directors based on the valuation report of an expert to be obtained in due course and the effective date of amalgamation shall also be decided by the board.

Gufic Biosciences net profit rose 28.1% to Rs 3.10 crore on 15.9% increase in net sales to Rs 64.97 crore in Q3 December 2016 over Q3 December 2015.

Gufic Biosciences is engaged in the manufacture of pharmaceuticals, medicinal chemicals and botanical products.

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Cipla rises in volatile trade after getting approval for Epzicom
Apr 05,2017

The announcement was made on Tuesday, 4 April 2017, when the stock markets were shut on account of local holiday.

Meanwhile, the S&P BSE Sensex was up 16.44 points, or 0.05%, to 29,926.66

On the BSE, so far 1.08 lakh shares were traded in the counter, compared with average daily volumes of 1.16 lakh shares in the past one quarter. The stock had hit a high of Rs 600.55 and a low of Rs 593.25 so far during the day.

The stock was volatile. The stock hit a 52-week high of Rs 621.90 on 6 February 2017. The stock hit a 52-week low of Rs 458.25 on 25 May 2016. The stock had underperformed the market over the past 30 days till 3 April 2017, gaining 0.71% compared with Sensexs 3.74% rise. The scrip also underperformed the market in past one quarter, rising 3.07% as against Sensexs 12.26% gain.

The large-cap pharmaceutical company has equity capital of Rs 160.90 crore. Face value per share is Rs 2.

Cipla announced that the company has received final approval for its Abbreviated New Drug Application (ANDA) for Abacavir and Lamivudine Tablets USP, 600 mg/300 mg, from the United States Food and Drug Administration(USFDA).

Abacavir and Lamivudine Tablets are AB-rated generic equivalents to the reference listed drug (RLD), Epzicom Tablets of ViiV Healthcare Company and are indicated in combination with other antiretroviral agents for the treatment of HIV-1 infection.

Epzicom Tablets had US sales of about $346.3 million for the 12 month period ended February 2017, according to IMS Health. The product will cater to the US market and will be commercially available shortly, Cipla said.

Ciplas consolidated net profit rose 43.85% to Rs 374.83 crore on 15.64% rise in net sales to Rs 3550.02 crore in Q3 December 2016 over Q3 December 2015.

Cipla is a global pharmaceutical company. Its portfolio includes over 1000 products across wide range of therapeutic categories.

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