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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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Firstsource Solutions leads gainers in A group
Feb 08,2017

Firstsource Solutions jumped 7.89% to Rs 46.50 at 13:41 IST. The stock topped the gainers in the BSEs A group. On the BSE, 27.86 lakh shares were traded on the counter so far as against the average daily volumes of 7.29 lakh shares in the past two weeks.

Titan Company surged 7.46% to Rs 422.75. The stock was the second biggest gainer in A group. On the BSE, 7.97 lakh shares were traded on the counter so far as against the average daily volumes of 73,000 shares in the past two weeks.

Jaiprakash Associates gained 4.75% at Rs 13.67. The stock was the third biggest gainer in A group. On the BSE, 51.99 lakh shares were traded on the counter so far as against the average daily volumes of 1.04 crore shares in the past two weeks.

Mcleod Russel India advanced 4.9% at Rs 167.95. The stock was the fourth biggest gainer in A group. On the BSE, 2.39 lakh shares were traded on the counter so far as against the average daily volumes of 1.4 lakh shares in the past two weeks.

Engineers India rose 4.25% to Rs 157. The stock was the fifth biggest gainer in A group. On the BSE, 7.68 lakh shares were traded on the counter so far as against the average daily volumes of 2.46 lakh shares in the past two weeks.

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Vodafone India - Idea Merger to Improve Industry Dynamics; Near Term Headwinds Persist
Feb 08,2017

The proposed merger of Vodafone India and Idea Cellular Ltd (Idea) will be credit positive for the telecom industry by eliminating duplication of spectrum and infrastructure capex, says India Ratings and Research (India Ratings). However in the near term India Ratings believes that the intense competition from Reliance Jios freebees will continue to pressurise telecom companies (telcos) financials. The sector is capital intensive with multi-players operating, and thus the merger will be favourable for both operators and subscribers, resulting in better pricing discipline in the long term. India Ratings estimates the return on capital employed will improve for the industry by around 300bp over FY17-FY19 (FY16: 8.4%) while the total capital deployed will increase 90% by FY19 over FY16.

The combined entity will be much larger in size, with a subscriber base of over 380 million (37% market share) compared to Bharti Airtel Limiteds (Bharti) 262 million subscribers. The combined entities revenue market share will be around 40%, while Bhartis stands at 30%. The merger will complement the circle presence of both the entities - Idea has strong presence in rural areas and Vodafone India in urban areas. It will also improve the competitiveness of the resultant entity compared to other telecom leaders in around 60% of circles (based on subscriber market share) where the merged entity will become a leading operator as it can offer services at better price points due to the operational synergies in those circles.

India Ratings expects the combined entities operating margins to improve by around 300bp, due to cost synergies in networking and selling, general and administrative expenses. The merger will also result in capex synergies, since it will eliminate the duplication of spectrum capacity and infrastructure related requirements. India Ratings notes that the spectrum of Vodafone India (in seven circles) and Idea (in two circles) which are expiring in FY22 are not in common circles, and there could be potential spectrum capex synergies (the cumulative worth of spectrum in these nine circles is over INR120 billion, based on the latest auction prices in those circles). The combined entities revenues will be around INR775 billion-INR800 billion and EBITDA margins of around 28%.

India Ratings notes that the merger, in case it materialises, will also require regulatory clearances, including the ones related to spectrum holding share, subscriber market share and revenue market share in some of the circles where the combined holding will cross the prescribed threshold limits. India Ratings expects the combined entity to breach the spectrum holding limit in five circles under the 900MHz band, one circle under the 1,800MHz band and two circles under the 2,500MHz band with the cumulative worth of around INR90 billion (based on last auctioned prices). The key challenge for the merger will also be operational and management control of the merged entity, along with the outstanding tax matter of Vodafone India.

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Board of Bharat Forge declares interim dividend
Feb 08,2017

Bharat Forge announced that the Board of Directors, at its meeting held on 08 February 2017 has declared an interim dividend Rs. 2.50 per equity share of Rs. 2/- each (125%).

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Export of Oilmeals during January 2017 has jumped more than doubled
Feb 08,2017

The Solvent Extractors Association of India (SEA) has compiled the export data for export of oilmeals for the month of January 2017. The export of oilmeals during January 2017 has jumped more than doubled and reported at 165,980 tons compared to 71,890 tons i.e. up by 131%. The overall export of oilmeals during April 2016 to January 2017 is reported at 1,335,894 tons compared to 1,300,465 tons during the same period of last year.

SEA has revised export data from April16 onward for soybean meal and de-oiled rice bran with update data collected for export by surface transport to neighboring countries.

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Esaar (India) appoints compliance officer
Feb 08,2017

Esaar (India) announced that Nitesh Balaram Pandirkar, Whole Time Director of the Company has been appointed as the compliance officer of the Company.

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Orbit Exports fixes record date for interim dividend and bonus issue
Feb 08,2017

Orbit Exports has fixed record date of 15 February 2017 for the purpose of payment of Interim Dividend for Financial Year 2016-2017 and also for allotment of the Bonus shares in the proportion of 1 (One) Bonus Equity Shares of Rs. 10/- (Rupees Ten only) each for every 1 (One) fully paid - up Equity Shares of Rs. 10/- (Rupees Ten Only).

The Company had earlier fixed the record date of 14 February 2017 for payment of interim dividend.

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Brahmaputra Infrastructure announces resignation of director
Feb 08,2017

Brahmaputra Infrastructure that the Company receive a resignation letter of N.N.Batabyal from the Post of Independent director and from all the Committees of the Company.

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Havells India forays into personal grooming segment
Feb 08,2017

Havells India announced its foray into personal grooming segment with the launch of array of high quality personal care product like Electric Shavers, Beard Trimmers, Grooming kit n++] Precision nose and ear Trimmer, Hair Straighteners & Dryers, Bikini Trimmer. The company also, for the first time n the country, launched baby hair clippers. These exclusively designed products will be available in the price range of Rs 1000n++] Rs 7200.

The products would initially be available in all major cities of the country and over 400 exclusive Havells Galaxies where consumers can touch and feel products. The entire range would be available across the country by end of March, 2017. Apart from this, the company would be selling products through online en++]commerce platforms.

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Tata Elxsi partners with M-Star Semiconductor Inc.
Feb 08,2017

Tata Elxsi announced a global partnership with M-Star Semiconductor Inc., a leading global semiconductor company for display and digital home solutions, to provide a comprehensive suite of software for MStarsSystem-on-a-Chip (SoC) targeted at Set-Top Boxes (STB).

This partnership brings together industry leading MStar STB chipset solutions with Tata Elxsis solutions and professional services. Communication service providers, MSOs and OEMs are expected to gain from the partnership. As part of this partnership, Tata Elxsis n++RDK Primen++ suite is made available on MStar STB chipset products. The suite is optimized to exploit the functionality for next-generation application demands from end consumers.

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Snowman Logistics plunges after reverse turnaround in Q3
Feb 08,2017

The result was announced after market hours yesterday, 7 February 2017.

Meanwhile, the S&P BSE Sensex was down 39.01 points or 0.14% at 28,296.15

On BSE, so far 1.35 lakh shares were traded in the counter as against average daily volume of 1.65 lakh shares in the past one quarter. The stock hit a high of Rs 60.10 and a low of Rs 58.35 so far during the day. The stock had hit a record low of Rs 46.20 on 29 February 2016. The stock had hit a 52-week high of Rs 93.85 on 2 August 2016.

The small-cap company has equity capital of Rs 167.09 crore. Face value per share is Rs 10.

Snowman Logistics net sales declined 16.14% to Rs 47.61 crore in Q3 December 2016 over Q3 December 2015. Earnings before interest, taxation, depreciation and amortization (EBITDA) fell 3% to Rs 11.02 crore in Q3 December 2016 over Q3 December 2015.

Snowman Logistics is an integrated temperature controlled logistics services provider with an ability to service customers on a pan India basis.

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Jamna Auto Industries director resigns
Feb 08,2017

Jamna Auto Industries announced that C. K. Vohra has resigned from the Board of Directors of the Company. The Board of Directors vide resolution passed by circulation dated 07 February 2017 has accepted his resignation.

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Lords Chloro Alkali to hold board meeting
Feb 08,2017

Lords Chloro Alkali will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consideration, approval and publication of Un-audited Quarterly Financial Results for the quarter/period ended on 31 December 2016.

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Classic Global Finance & Capital to hold board meeting
Feb 08,2017

Classic Global Finance & Capital will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and approve the Unaudited Financial Results of the Company for the quarter ended on 31 December 2016.

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VKJ Infradevelopers to hold board meeting
Feb 08,2017

VKJ Infradevelopers will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider and approve the Unaudited Financial Results of the Company for the quarter ended on 31 December 2016.

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Filatex Fashions to hold board meeting
Feb 08,2017

Filatex Fashions will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider Un-Audited financial results, inter alia, of the Company for the Quarter ended as on 31 December 2016.

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