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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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Alok Industries leads gainers in A group
Nov 28,2016

Alok Industries jumped 11.62% to Rs 2.69 at 13:25 IST. The stock topped the gainers in the BSEs A group. On BSE, so far 19.73 lakh shares were traded in the counter as against average daily volume of 31.57 lakh shares in the past two weeks.

Edelweiss Financial Services galloped 8.36% at Rs 102.45. The stock was second biggest gainer in A group. On BSE, so far 2.06 lakh shares were traded in the counter as against average daily volume of 2.11 lakh shares in the past two weeks.

Jindal Steel & Power spurted 7.29% to Rs 71.40. The stock was third biggest gainer in A group. On BSE, so far 12.70 lakh shares were traded in the counter as against average daily volume of 8.71 lakh shares in the past two weeks.

Mangalore Refinery & Petrochemicals gained 6.64% at Rs 93.90. The stock was fourth biggest gainer in A group. On BSE, so far 2.93 lakh shares were traded in the counter as against average daily volume of 79,000 shares in the past two weeks.

Amtek Auto rose 5.7% to Rs 40.80. The stock was fifth biggest gainer in A group. On BSE, so far 7.14 lakh shares were traded in the counter as against average daily volume of 5.42 lakh shares in the past two weeks.

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Gayatri BioOrganics enters into business transfer agreement
Nov 28,2016

Gayatri BioOrganics has entered in to Business Transfer Agreement for transferring its business of manufacturing and selling starch, sorbitol and other by products along with selling its units i.e. Unit-I Situated at NH-9, Nandikandi Village, Sadasivapet Mandal, Medak District, Telangana and Unit-II Situated at Balabadrapuram Village, Biccavole Mandal, East Godavari District, Andhra Pradesh on a Slump Sale basis.

In the process the Company has identified Bluecraft Agro, a company registered under the Companies Act, 2013, having its registered office at 9, Ambalal Park, Jawahar Chowk, Sabarmati, Ahmedabad, Gujarat- 380005 as Potential Purchaser to complete the slump sale for a consideration of Rs. 1001/-, subject to fulfillment of conditions precedent as per the Business Transfer Agreement.

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Shares of Lincoln Pharmaceuticals get delisted from Ahmedabad Stock Exchange
Nov 28,2016

Lincoln Pharmaceuticals announced that pursuant to the application made by the Company to ASEL for voluntary delisting of its Equity shares as per the provision of SEBI (Delisting of Equity Shares) Regulations, 2009. ASEL has vide its letter dated 23 November 2016 granted the approval for delisting of Equity Shares of the Company and accordingly the Equity shares of the company stand de-listed from ASEL with effect from 24 November 2016.

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Ramco Systems secures order from G&D Integrated Administration LLC
Nov 28,2016

Ramco Systems announced that the Companys subsidiary, Ramco Systems Corporation., USA, has secured an order from G&D Integrated Administration LLC, Morton IL, USA for Ramco ERP.

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FM: Present Government to make an extensive social welfare system which will focus primarily on better education system and effective healthcare
Nov 28,2016

The Union Finance Minister Shri Arun Jaitley said that one of the major priorities of the present Government is to make an extensive social welfare system which will focus primarily on better education system and effective healthcare especially for the children, women and senior citizens of the country. He said that as the allocation of resources to the Social Sector by the Government is increasing with time, therefore, the need of the hour is to bring substantial changes in Social sector through better policies and their timely implementation. The Finance Minister Shri Jaitley was speaking during his Third Pre -Budget Consultative Meeting for the Union Budget 2017-18 with the representatives of different Social Sector Groups.

The Finance Minister Shri Jaitley further said that the inclusive growth is high on the priority of the present Government and the Government will take adequate measures to ensure social security for all especially for the vulnerable section of society including the children, women and senior citizens of the country.

Most of the Social Sector representatives gave different suggestions to the Finance Minister for the forthcoming Union Budget 2017-18. Major suggestions include that in the next Budget, allocation to social sector schemes must be increased and a mechanism be established to monitor proper implementation of all such schemes. It was suggested to monitor to ensure that the schools have access to safe drinking water & sanitation. Other suggestions include more focus in the Budget on healthcare for the workers especially those working in mining sector etc. It was also suggested that vacancies of Doctors, nurses and teachers must be filled so that these public services remain unaffected. There is strong need to strengthen DIETS and quality of primary and secondary education in the country. Various suggestions came about increasing allocation on education and healthcare sectors in the upcoming General Budget 2017-18. It was also suggested that all the tobacco products should be highly taxed primarily because of health concerns.

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Indias natural gas production falls 1.4% in October 2016
Nov 28,2016

Indias natural gas production declined 1.4% to 2.76 billion cubic meters (bcm) in October 2016 over a year ago. Natural gas output of ONGC rose 5.7% to 1.94 bcm, but that of private and JV companies dipped 19.4% to 0.57 bcm. Meanwhile, the natural gas production of Oil India also fell 3.4% to 0.25 bcm in October 2016.

Natural gas output declined 4.0% to 18.48 bcm in April-October 2016 over April-October 2015.

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Modi Government released Rs. 118 crore for the year 2016-17 for farm mechanization: Shri Radha Mohan Singh
Nov 28,2016

Union Agriculture and Farmers Welfare Minister, Shri Radha Mohan Singh has said that it is essential to use maximum and best technology available resources in fast changing world and growing world economic competition so that domestic requirement of food grains can be met and export may be promoted.

Agriculture Minister said that farm mechanization has become an important part of crop production, processing and transport but it is facing double challenges in the whole world. The first challenge is to increase the supply of food for growing population and the second is the protection of environment. He said that the challenge of farm mechanization still exists in India. Most of our land holding is a small, therefore, commercial use is not proving beneficial but government ensuring the availability of farm machine- rota vator, blow sprayer, cotton cultivator, cutter and shredder through the establishment of custom hiring centre for those farmers who cannot buy costly farm machines. Four regional farm machinery training and testing institutes have been established in the country which cater to the needs of standard and quality farm machinery and equipments.

Shri Singh informed that farm mechanization sub-mission has been started from 2014-15 for the purpose of promoting farm mechanization in the country by Ministry of Agriculture and Farmers Welfare. The aim of the sub-mission is to promote farm mechanization for small and marginal farmers and to promote farm mechanization where there is less availability of farm machines.

The Minister further said that the Modi government released Rs. 340 crore for this sector in last two years i.e. 2014-16 whereas the previous government released only Rs. 62 crore between 2012-14. Shri Singh said that Centre Government has released Rs. 118 crore for this purpose.

Shri Singh said that food safety, rural employment and soil conservation, sustainable natural resource management and bio-diversity production are essential for sustainable technology and total rural development. Sustainable development of agriculture is required for increase in rural income, doubling the income of farmers and catering to the needs of food and nutrition and farm mechanization plays an important role in it. He said that Brazil, Russia, India, China and South Africa (Five BRICS countries) along with Japan and Turkey are in the category of the markets of modern farm machines.

On the occasion, Agriculture Minister said that the book is good and readers will like it. He said that the officers of Ministry of Agriculture and Officials of FICCI have provided qualitative material for it. He praised social liability council for the publication of this book.

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Most bank stocks drop as RBI announces measures to drain excess liquidity
Nov 28,2016

Among public sector banks, Bank of Baroda (down 1.97%), State Bank of India (down 1.72%), Bank of India (down 1.44%), Punjab National Bank (down 1.21%), Corporation Bank (down 0.88%), Canara Bank (down 0.37%) and Union Bank of India (down 0.29%) edged lower. Indian Bank (up 0.89%), Indian Overseas Bank (up 0.4%) and IDBI Bank (up 0.07%) edged higher.

Among private sector banks, RBL Bank (up 0.98%), Axis Bank (up 0.66%), HDFC Bank (up 0.37%), Yes Bank (up 0.35%) and Kotak Mahindra Bank (up 0.1%) edged higher. ICICI Bank (down 1.67%) and IndusInd Bank (down 0.31%) edged lower.

Meanwhile, the S&P BSE Sensex was up 69.64 points or 0.26% at 26,385.98. The BSE Bankex index was down 0.5% at 21,080.13, underperforming the Sensex.

The BSE Bankex index had underperformed the market over the past one month till 25 November 2016, declining 7% compared with the Sensexs 6.32% fall. The index had, however, outperformed the market in past one quarter, sliding 4.3% as against the Sensexs 5.46% fall.

The Reserve Bank of India (RBI) stated on Saturday, 26 November 2016, that with the withdrawal of the legal tender status of Rs 500 and Rs 1,000 denomination bank notes (specified bank notes) beginning 9 November 2016, there has been a surge in deposits relative to the expansion in bank credit, leading to large excess liquidity in the system. The magnitude of surplus liquidity available with the banking system is expected to increase further in the fortnights ahead, the central bank said. In view of this, it has been decided to absorb a part of this surplus liquidity by applying an incremental cash reserve ratio (CRR) as a purely temporary measure, the bank said.

The CRR remains unchanged at 4% of outstanding net demand and time liabilities (NDTL). On the increase in NDTL between 16 September 2016 and 11 November 2016, scheduled banks shall maintain an incremental CRR of 100%, effective the fortnight beginning 26 November 2016. This is intended to absorb a part of the surplus liquidity arising from the return of specified bank notes (SBNs) to the banking system, while leaving adequate liquidity with banks to meet the credit needs of the productive sectors of the economy. As the incremental CRR is intended to be a temporary measure within RBIs liquidity management framework to drain excess liquidity in the system, it shall be reviewed on 9 December 2016 or even earlier, the central bank said. The central bank has separately revived the Guarantee Scheme to enable deposit of SBN balances at the RBI or at currency chests and get immediate value. This measure should also facilitate banks compliance with the incremental CRR, the central bank said.

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Sagar Cements surges after board sets price for preferential issue at premium
Nov 28,2016

The announcement was made during trading hours today, 28 November 2016.

Meanwhile, the BSE Sensex was up 76 points, or 0.29%, to 26,392.34.

On BSE, so far 64,000 shares were traded in the counter, compared with average daily volume of 3,648 shares in the past one quarter. The stock hit a high of Rs 729.50 and a low of Rs 605 so far during the day. The stock hit a record high of Rs 835 on 14 October 2016. The stock hit a 52-week low of Rs 350 on 18 February 2016. The stock had underperformed the market over the past 30 days till 25 November 2016, falling 15.67% compared with the 5.73% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, falling 4.66% as against Sensexs 5.28% decline.

The small-cap company has equity capital of Rs 17.39 crore. Face value per share is Rs 10.

Sagar Cements said that the board at its meeting held on 28 November 2016, fixed an issue price of Rs 800 per equity share for the proposed issue of 6.11 lakh equity shares of the company on a preferential basis, subject to receipt of further necessary approvals as may be required.

The issue price is 10.07% premium to the ruling market price. It is 29.05% premium to the previous closing price of Rs 619.90 on Friday, 25 November 2016.

The company announced on 23 November 2016, that its shareholders at the extraordinary general meeting (EGM) held on that day, voted on a resolution of issuing up to 6.11 equity shares on a preferential basis and the outcome of the said voting is awaited.

Net profit of Sagar Cements declined 71.53% to Rs 2.50 crore on 29% decline in net sales to Rs 119.20 crore in Q2 September 2016 over Q2 September 2015.

Sagar Cements is engaged in manufacturing of cement.

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Sagar Cements gains as board sets decent premium for preferential share allotment
Nov 28,2016

The announcement was made during trading hours today, 28 November 2016.

Meanwhile, the BSE Sensex was up 76 points, or 0.29%, to 26,392.34.

On BSE, so far 64,000 shares were traded in the counter, compared with average daily volume of 3,648 shares in the past one quarter. The stock hit a high of Rs 729.50 and a low of Rs 605 so far during the day. The stock hit a record high of Rs 835 on 14 October 2016. The stock hit a 52-week low of Rs 350 on 18 February 2016. The stock had underperformed the market over the past 30 days till 25 November 2016, falling 15.67% compared with the 5.73% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, falling 4.66% as against Sensexs 5.28% decline.

The small-cap company has equity capital of Rs 17.39 crore. Face value per share is Rs 10.

Sagar Cements said that the board at its meeting held on 28 November 2016, fixed an issue price of Rs 800 per equity share for the proposed issue of 6.11 lakh equity shares of the company on a preferential basis, subject to receipt of further necessary approvals as may be required.

The issue price is 10.07% premium to the ruling market price. It is 29.05% premium to the previous closing price of Rs 619.90 on Friday, 25 November 2016.

The company announced on 23 November 2016, that its shareholders at the extraordinary general meeting (EGM) held on that day, voted on a resolution of issuing up to 6.11 equity shares on a preferential basis and the outcome of the said voting is awaited.

Net profit of Sagar Cements declined 71.53% to Rs 2.50 crore on 29% decline in net sales to Rs 119.20 crore in Q2 September 2016 over Q2 September 2015.

Sagar Cements is engaged in manufacturing of cement.

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Board of Sundaram Multi Pap approves issue and allotment of shares to QIBs
Nov 28,2016

Sundaram Multi Pap announced that the Board of Directors of the Company at its meeting held on 28 November 2016 has approved the issue and allotment of 3 crore equity shares of face value of Re 1 each to the Qualified Institutional Buyers at the issue price of Rs 4.10 per share including premium of Rs 3.10 per share aggregating Rs 12.30 crore.

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Board of Viaan Industries to consider sub-division of shares
Nov 28,2016

Viaan Industries announced that the Meeting of Business Development Committee of the Company will be held on 14 December 2016, to inter alia to consider sub - division of shares.

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Graphic Charts to announce September quarter and FY results
Nov 28,2016

Graphic Charts announced that a meeting of the Board of Directors has been convened on 30 November 2016, inter alia, to consider and approve the Unaudited Financial Results for the quarter ended and year ended 30 September 2016.

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Suzlon Energy gains after winning order
Nov 28,2016

The announcement was made during trading hours today, 28 November 2016.

Meanwhile, the BSE Sensex was up 64.45 points, or 0.24%, to 26,380.79.

On BSE, so far 11.36 lakh shares were traded in the counter, compared with average daily volume of 45.11 lakh shares in the past one quarter. The stock hit a high of Rs 14.96 and a low of Rs 14.48 so far during the day. The stock hit a 52-week high of Rs 23.25 on 5 January 2016. The stock hit a 52-week low of Rs 12.47 on 9 November 2016. The stock had outperformed the market over the past 30 days till 25 November 2016, falling 0.21% compared with the 5.73% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, sliding 9.72% as against Sensexs 5.28% decline.

The mid-cap company has equity capital of Rs 1004.88 crore. Face value per share is Rs 2.

Suzlon Energy announced its order win of 50.40 megawatt (MW) wind power project from a leading business house. The project consists of 24 units of S95 90m tubular tower with rated capacity of 2.1 MW.

Located in the district of Anantapur, Andhra Pradesh, the project is scheduled for completion in March 2017. This order win takes the total current year order portfolio with the business house to 84 MW out of which 33.60 MW was announced earlier as a part of order wins from SMEs.

Suzion will provide comprehensive operation and maintenance for a period of 20 years and includes dedicated Life cycle asset management services to the project. The project has the potential to provide power to over 27,000 households and reduce 0.10 million tonnes of CO2 emissions per annum.

On a consolidated basis, Suzlon Energy reported net profit of Rs 237.62 crore in Q2 September 2016 as against net loss of Rs 201.66 crore in Q2 September 2015. Net sales rose 57.30% to Rs 2746.18 crore in Q2 September 2016 over Q2 September 2015.

Suzion Energy is one of the leading renewable energy solutions providers in the world with an international presence across 19 countries in Asia, Australia, Europe, Africa and North and South America.

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Indias crude oil refinery output jumps 13% in October 2016
Nov 28,2016

Indias crude oil refinery output increased 13.0% to 20.45 mt in October 2016 over October 2015. The output of public sector refineries improved 20.6% to 11.28 mt, while the output of private refineries also moved up 6.5% to 7.78 mt. However, the refinery output of public-private JV refiners declined 3.7% to 1.38 mt in October 2016.

Among public refineries, the output of Mangalore Refineries jumped 55.4% to 1.30 mt, while the output of Chennai Petroleum Corporation moved up 54.4% to 0.94 mt, and Bharat Petroleum Corporation 24.9% to 2.13 mt in October 2016 over October 2015. The output of Indian Oil Corporation also inched up 17.6% to 5.31 mt, but that of Hindustan Petroleum Corporation declined 3.8% to 1.40 mt, and Numaligarh Refineries plunged 13.5% to 0.20 mt in October 2016.

Among private refiners, the output of Reliance Petroleum fell 8.5% to 6.12 mt, while that of Essar Oil zoomed 166.7% to 1.67 mt in October 2016 over October 2015.

Among JV refineries, the output of Bharat Oman moved up 2.6% to 0.57 mt, but the output of HPCL Mittal fell 7.7% to 0.81 mt in October 2015.

The cumulative refinery output increased 8.1% to 138.49 mt in April-October 2016. The output of public refineries increased 11.3% to 74.10 mt, while that of private refineries moved up 5.3% to 54.92 mt. The refinery output of JV refineries rose 0.5% to 9.47 mt in April-October 2016. Among public refineries, the output of Indian Oil Corporation improved 13.8%, Bharat Petroleum Corporation 7.4%, Hindustan Petroleum Corporation 5.6%, Chennai Petroleum Corporation 19.3%, Numaligarh Refineries 3.2% and Mangalore Refineries 9.8% .

The overall capacity utilization was higher at 107.6% in October 2016 compared with 100.3% in October 2015, while it was also higher at 105.7% in April-October 2016 compared with 104.1% in April-October 2015.

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