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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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Tata Elxsi gains after signing up global automaker for driverless car design
Jun 05,2017

The announcement was made during trading hours today, 5 June 2017.

Meanwhile, the S&P BSE Sensex was up 25.60 points, or 0.08% to 31,298.89.

On the BSE, 75,000 shares were traded in the counter so far, compared with average daily volumes of 42,193 shares in the past one quarter. The stock had hit a high of Rs 1,423.95 and a low of Rs 1,353.30 so far during the day. The stock hit a 52-week high of Rs 1,839.50 on 3 June 2016. The stock hit a 52-week low of Rs 1,021.65 on 21 November 2016.

The stock had underperformed the market over the past one month till 2 June 2017, falling 12.36% compared with 3.81% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 8.28% as against Sensexs 8.47% rise.

The mid-cap company has equity capital of Rs 31.14 crore. Face value per share is Rs 10.

Tata Elxsi announced the licensing of its advanced autonomous vehicle middleware platform AUTONOMAI to one of the worlds top 5 automotive OEMs (original equipment manufacturers) for their driverless car R&D (research and development).

The Autonomai platform provides carmakers and Tier 1 automotive suppliers with a comprehensive and modular solution covering perception, GNC (guidance navigation control) and drive-by-wire systems, to quickly build, test and deploy autonomous vehicles.

This solution supports sensor fusion with a variety of sensors from cameras to radar and lidar, and leverages sophisticated artificial intelligence (AI) and deep learning based algorithms to deliver the complex use-case scenarios expected of driverless cars.

Autonomai also allows rapid region specific adaptation through its pre-integrated validation datasets and AI & deep learning capabilities.

Net profit of Tata Elxsi rose 8.30% to Rs 44.50 crore on 10.92% rise in net sales to Rs 326.05 crore in Q4 March 2017 over Q4 March 2016.

Tata Elxsi is a global design and technology services company, headquartered in Bangalore.

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Tata Elxsi rises after signing up global automaker for driverless car design
Jun 05,2017

The announcement was made during trading hours today, 5 June 2017.

Meanwhile, the S&P BSE Sensex was up 25.60 points, or 0.08% to 31,298.89.

On the BSE, 75,000 shares were traded in the counter so far, compared with average daily volumes of 42,193 shares in the past one quarter. The stock had hit a high of Rs 1,423.95 and a low of Rs 1,353.30 so far during the day. The stock hit a 52-week high of Rs 1,839.50 on 3 June 2016. The stock hit a 52-week low of Rs 1,021.65 on 21 November 2016.

The stock had underperformed the market over the past one month till 2 June 2017, falling 12.36% compared with 3.81% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 8.28% as against Sensexs 8.47% rise.

The mid-cap company has equity capital of Rs 31.14 crore. Face value per share is Rs 10.

Tata Elxsi announced the licensing of its advanced autonomous vehicle middleware platform AUTONOMAI to one of the worlds top 5 automotive OEMs (original equipment manufacturers) for their driverless car R&D (research and development).

The Autonomai platform provides carmakers and Tier 1 automotive suppliers with a comprehensive and modular solution covering perception, GNC (guidance navigation control) and drive-by-wire systems, to quickly build, test and deploy autonomous vehicles.

This solution supports sensor fusion with a variety of sensors from cameras to radar and lidar, and leverages sophisticated artificial intelligence (AI) and deep learning based algorithms to deliver the complex use-case scenarios expected of driverless cars.

Autonomai also allows rapid region specific adaptation through its pre-integrated validation datasets and AI & deep learning capabilities.

Net profit of Tata Elxsi rose 8.30% to Rs 44.50 crore on 10.92% rise in net sales to Rs 326.05 crore in Q4 March 2017 over Q4 March 2016.

Tata Elxsi is a global design and technology services company, headquartered in Bangalore.

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Tata Elxsi rises after pact for driverless car design
Jun 05,2017

The announcement was made during trading hours today, 5 June 2017.

Meanwhile, the S&P BSE Sensex was up 25.60 points, or 0.08% to 31,298.89.

On the BSE, 75,000 shares were traded in the counter so far, compared with average daily volumes of 42,193 shares in the past one quarter. The stock had hit a high of Rs 1,423.95 and a low of Rs 1,353.30 so far during the day. The stock hit a 52-week high of Rs 1,839.50 on 3 June 2016. The stock hit a 52-week low of Rs 1,021.65 on 21 November 2016.

The stock had underperformed the market over the past one month till 2 June 2017, falling 12.36% compared with 3.81% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 8.28% as against Sensexs 8.47% rise.

The mid-cap company has equity capital of Rs 31.14 crore. Face value per share is Rs 10.

Tata Elxsi announced the licensing of its advanced autonomous vehicle middleware platform AUTONOMAI to one of the worlds top 5 automotive OEMs (original equipment manufacturers) for their driverless car R&D (research and development).

The Autonomai platform provides carmakers and Tier 1 automotive suppliers with a comprehensive and modular solution covering perception, GNC (guidance navigation control) and drive-by-wire systems, to quickly build, test and deploy autonomous vehicles.

This solution supports sensor fusion with a variety of sensors from cameras to radar and lidar, and leverages sophisticated artificial intelligence (AI) and deep learning based algorithms to deliver the complex use-case scenarios expected of driverless cars.

Autonomai also allows rapid region specific adaptation through its pre-integrated validation datasets and AI & deep learning capabilities.

Net profit of Tata Elxsi rose 8.30% to Rs 44.50 crore on 10.92% rise in net sales to Rs 326.05 crore in Q4 March 2017 over Q4 March 2016.

Tata Elxsi is a global design and technology services company, headquartered in Bangalore.

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Joint Lenders Forum of MSP Steel & Power decide to adopt S4A Scheme
Jun 05,2017

The Joint Lender Forum of MSP Steel & Power in its meeting held on 02 June 2017 has decided to resolve the account under guidelines for Scheme of Sustainable Structuring of Stressed Assets Scheme issued by the RBI and decided to forward the restructuring proposal to the Overseeing Committee.

Under S4A, the existing debt of the Company will be bifurcated into two parts -

Part A comprising sustainable debt which will be 52% of existing debt and will be served as per the terms and conditions existing for the facilities.

Part B being the unsustainable part of the loan which can either be converted into equity shares of the Company and/or optionally convertible preference shares/ optionally convertible debentures as per the requirements of the S4A guidelines issued by the RBI.

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Board of Unity Infraprojects approves to apply before the NCLT for insolvency
Jun 05,2017

Unity Infraprojects announced that the Board of Directors of the Company at its meeting held on 05 June 2017 transacted the following -

Considered and discussed the Notice received from ICICI Bank recalling the Financial Assistance granted to the Company.

Discussed and approved to make an application before the National Company Law Tribunal to initiate Corporate Insolvency Resolution Process in respect of the Company.

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OnMobile Global advances after launching consumer App in US
Jun 05,2017

The announcement was made on Saturday, 3 June 2017.

Meanwhile, the S&P BSE Sensex was down 2.32 points or 0.01% at 31,270.97. The S&P BSE Small-Cap index was up 95.76 points or 0.63% at 15,406.93.

On BSE, so far 7,643 shares were traded in the counter as against average daily volume of 1.17 lakh shares in the past one quarter. The stock hit a high of Rs 73.80 and a low of Rs 71.25 so far during the day. The stock had hit a 52-week high of Rs 128.70 on 15 July 2016. The stock had hit a 52-week low of Rs 70 on 2 June 2017.

The stock had underperformed the market over the past one month till 2 June 2017, falling 17.29% compared with 3.81% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 9.43% as against Sensexs 8.47% rise. The scrip had also underperformed the market in past year, sliding 32.75% as against Sensexs 16.5% rise.

The small-cap company has equity capital of Rs 104.35 crore. Face value per share is Rs 10.

ONMO Express is an App that enables consumers to better express their feeling and emotions through sound, with people who matter to them. Through this App, consumers can set music, jingles, status or their name from a wide catalog as their ring-back tone to play for their callers, OnMobile Global said. Consumers can set a particular part of the song they love to surprise their callers, the company said. The App also allows people to dedicate personalized content for special callers to be played only once and create a moment of surprise, it added.

The App is available on both Android and iOS platforms to subscribers of a leading mobile operator in the USA. Following a month-long free trial, subscribers can enjoy the service for $2.99 per month with access to an unlimited number of songs and sounds, OnMobile Global said. OnMobile has plans to launch ONMO Express and other consumer Apps in some of its other markets as well, the company said.

On a consolidated basis, OnMobile Global reported net profit of Rs 1.63 crore for Q4 March 2017 as against net loss of Rs 14.80 crore for Q4 March 2016. Total income declined 21.82% to Rs 161.56 crore in Q4 March 2017 over Q4 March 2016.

OnMobile Global, headquartered in Bangalore and with offices across the globe, delivers over 575 million music plays daily to mobile users worldwide.

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Marksans Pharma declines on profit booking
Jun 05,2017

Meanwhile, the S&P BSE Sensex was up 2.22 points, or 0.01% at 31,275.51. The S&P BSE Small-Cap index was up 99.51 points, 0.65% at 15,410.68.

On the BSE, 1.60 lakh shares were traded on the counter so far as against the average daily volumes of 8.62 lakh shares in the past one quarter. The stock had hit a high of Rs 45.45 and a low of Rs 43.95 so far during the day. The stock had hit a 52-week high of Rs 58.30 on 10 June 2016 and hit a 52-week low of Rs 36.95 on 1 February 2017.

The stock had underperformed the market over the past one month till 2 June 2017, declining 11.64% compared with the Sensexs 4.52% rise. The scrip had also underperformed the market over the past one quarter declining 5.64% as against the Sensexs 8.44% rise. The scrip had also underperformed the market over the past one year advancing 1.69% as against the Sensexs 16.5% rise.

The small-cap company has equity capital of Rs 40.93 crore. Face value per share is Rs 1.

Marksans Pharma had rallied 9.19% in the preceding three trading sessions to settle at Rs 45.15 on Friday, 2 June 2017, from its closing of Rs 41.35 on 30 May 2017.

Marksans Pharma reported consolidated net loss of Rs 3.22 crore in Q4 March 2017, compared with net loss of Rs 5.76 crore in Q4 March 2016. Net sales fell 12.1% to Rs 184.75 crore in Q4 March 2017 over Q4 March 2016.

Marksans Pharma is a global pharmaceutical company. It is engaged in research & development (R&D) and offers CRAMS (contract research and manufacturing services) to global pharmaceutical companies.

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Tata Elxsi licenses its advanced autonomous vehicle middleware platform n++AUTONOMAIn++
Jun 05,2017

Tata Elxsi announced the licensing of its advanced autonomous vehicle middleware platform n++AUTONOMAIn++ to one of the worlds top 5 automotive OEMs for their driverless car R&D.

The Autonomain++ platform provides carmakers and Tier 1 automotive suppliers with a comprehensive and modular solution covering Perception, GNC and Drive-by-wire systems, to quickly build, test and deploy autonomous vehicles.

This solution supports sensor fusion with a variety of sensors from cameras to Radar and Lidar, and leverages sophisticated artificial intelligence (AI) and deep learning based algorithms to deliver the complex use-case scenarios expected of driverless cars.

Autonomai also allows rapid region specific adaptation through its pre-integrated validation datasets and AI & deep learning capabilities.

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Zydus receives final approval for Mirtazapine Orally Disintegrating Tablets
Jun 05,2017

Zydus Cadila has received final approval from the USFDA to market Mirtazapine Orally Disintegrating Tablets USP in strengths of 15 mg, 30 mg and 45 mg.

The drug is an anti-depressant and will be produced at the groups formulations manufacturing facility at Baddi.

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RCom gains on getting 7-month extension to service debt
Jun 05,2017

Meanwhile, the S&P BSE Sensex was down 30.51 points, or 0.10% to 31,242.78.

On the BSE, 30.35 lakh shares were traded in the counter so far, compared with average daily volumes of 36.76 lakh shares in the past one quarter. The stock had hit a high of Rs 21.75 and a low of Rs 20.70 so far during the day. The stock hit a 52-week high of Rs 55.40 on 31 August 2016. The stock hit a record low of Rs 18.15 on 31 May 2017.

The stock had underperformed the market over the past one month till 2 June 2017, falling 35.67% compared with 3.81% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 44.86% as against Sensexs 8.47% rise.

The mid-cap company has equity capital of Rs 1244.49 crore. Face value per share is Rs 5.

Reliance Communications (RCom) announced after market hours on Friday, 2 June 2017, that it has been engaged in discussions with its lenders to finalise an overall debt resolution plan, with the objective of expeditiously closing the already announced strategic transactions with Aircel and Brookfield, to immediately reduce debt from Rs 45000 crore to approximately Rs 20000 crore; a reduction of 60% or Rs 25000 crore. RCom said it aims to develop a sustainable long term plan for servicing the companys remaining debt. Based on applicable guidelines, RComs lenders have constituted a Joint Lenders Forum (JLF) to consider and approve the companys plans in this regard.

The lenders have taken note of the advanced stage of implementation of RComs strategic transformation programme involving the transactions for the Wireless and Towers Business. The lenders have proposed to give time of seven months till December 2017 to complete the above transactions, and reduce its debt by a substantial amount of Rs 25000 crore, or 60%. RCom will also present to the lenders its sustainable long term plans for servicing the remaining debt of Rs 20000 crore. As part of the above, there will be a standstill on the companys debt servicing obligations for the next seven months till end December 2017.

In the event the transactions are not completed in the above timeframe, the Lenders may exercise their right to convert their debt, in accordance with applicable SDR guidelines. The above is subject to lenders formal approvals and all other approvals as may be necessary under law.

On a consolidated basis, Reliance Communications reported net loss of Rs 948 crore in Q4 March 2017 as against net profit of Rs 79 crore in Q4 March 2016. Net sales declined 24.11% to Rs 4312 crore in Q4 March 2017 over Q4 March 2016.

RCom is an integrated telecommunications service provider.

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RCom firms up on getting 7-month extension to service debt
Jun 05,2017

Meanwhile, the S&P BSE Sensex was down 30.51 points, or 0.10% to 31,242.78.

On the BSE, 30.35 lakh shares were traded in the counter so far, compared with average daily volumes of 36.76 lakh shares in the past one quarter. The stock had hit a high of Rs 21.75 and a low of Rs 20.70 so far during the day. The stock hit a 52-week high of Rs 55.40 on 31 August 2016. The stock hit a record low of Rs 18.15 on 31 May 2017.

The stock had underperformed the market over the past one month till 2 June 2017, falling 35.67% compared with 3.81% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 44.86% as against Sensexs 8.47% rise.

The mid-cap company has equity capital of Rs 1244.49 crore. Face value per share is Rs 5.

Reliance Communications (RCom) announced after market hours on Friday, 2 June 2017, that it has been engaged in discussions with its lenders to finalise an overall debt resolution plan, with the objective of expeditiously closing the already announced strategic transactions with Aircel and Brookfield, to immediately reduce debt from Rs 45000 crore to approximately Rs 20000 crore; a reduction of 60% or Rs 25000 crore. RCom said it aims to develop a sustainable long term plan for servicing the companys remaining debt. Based on applicable guidelines, RComs lenders have constituted a Joint Lenders Forum (JLF) to consider and approve the companys plans in this regard.

The lenders have taken note of the advanced stage of implementation of RComs strategic transformation programme involving the transactions for the Wireless and Towers Business. The lenders have proposed to give time of seven months till December 2017 to complete the above transactions, and reduce its debt by a substantial amount of Rs 25000 crore, or 60%. RCom will also present to the lenders its sustainable long term plans for servicing the remaining debt of Rs 20000 crore. As part of the above, there will be a standstill on the companys debt servicing obligations for the next seven months till end December 2017.

In the event the transactions are not completed in the above timeframe, the Lenders may exercise their right to convert their debt, in accordance with applicable SDR guidelines. The above is subject to lenders formal approvals and all other approvals as may be necessary under law.

On a consolidated basis, Reliance Communications reported net loss of Rs 948 crore in Q4 March 2017 as against net profit of Rs 79 crore in Q4 March 2016. Net sales declined 24.11% to Rs 4312 crore in Q4 March 2017 over Q4 March 2016.

RCom is an integrated telecommunications service provider.

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Godrej Properties announces group housing project
Jun 05,2017

Godrej Properties announced its entry into the Sohna real estate market to develop a Group Housing Project in Sector 33.

This project will offer approximately 157,000 square meters (approximately 1.7 million sq. ft.) of saleable area and will be developed as a modern group housing development. This project is located just 12 kms from Golf Course Extension Road and offers easy access to Gurgaon from Sohna Road.

This is GPLs first project in Sohna and eighth within the National Capital Region (NCR).

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NSDC signs MoU with BIRD ACADEMY for skilling of unemployed youth in the aviation and aerospace sector
Jun 05,2017

An MoU was signed between National Skill Development Corporation and Bird Academy on the 01 June 2017, with regards to skilling of unemployed youth in the aviation and aerospace Sector. With the signing of the MoU NSDC has agreed to enter into an arrangement with BIRD ACADEMY to train, skill & empower more than 30,000 unemployed youth across various states including North Eastern states with special focus to train and empower minimum 5,000 women & tribal youths from the underprivileged sections of the society and assist states in capacity building over the next six years.

The two organizations will work together to set up training centres and centre of excellence in India with the aim of increasing employability of youth aspiring to work in the aerospace and aviation sector under the guidance of Aerospace and Aviation sector skill council

BIRD Academy will:

n++ undertake fresh skilling for 30,000 youth in aviation and aerospace Sector, resulting in gainful employment over the next 6 years

n++ Undertake Recognition of Prior Learning for their direct and indirect employees covering approx. 5000 candidates

n++ Establish Model Centre and Centre of Excellence/Training Centres at Chandigarh, Delhi, Cochin, Bengaluru/Mumbai, Goa and other locations Pan India including North East focussed on Aviation and related trades

n++ Align all existing and upcoming trainings/centres to National Skills Qualification Framework(NSQF) under the guidance of AASSC

n++ Provide inputs on trends and requirements in Aviation & Aerospace industry for developing QP-NOS for job roles aligned to NSQF and assist in industry validation through group companies.

n++ Provide consultation and expertise on facilities set up, Curriculum design, content development and assist in addressing the gap that exist for training of trainers (ToT), training of Assessors (ToA), Certification of Master Trainers (CoMT) and existing trainings.

n++ Further BIRD Academy will apply for Non-funding/Funding Partnership to NSDC which shall be evaluated by NSDC as per its Financial Management and Procurement Manual and other applicable guidelines

Through this MoU, NSDC may

n++ Support in the development of Aviation and Aerospace Model Centre and BIRD ACADEMY Centre of Excellence/ Training Centres.

n++ NSDC through the Aviation & Aerospace Sector Skill council (AASSC) may provide support for joint mobilization to channelize students into these centres

n++ NSDC through the AASSC will facilitate NSQF alignment, provide quality assurance and certification through for trainings in these centres

n++ The data for trainings under NSQF will be uploaded on the SDMS for MIS and reporting and oversight; also NSDC may advise and guide Bird Academy to enhance its reach for skilling

n++ On behalf of NSDC, the AASSC will track the progress of the MoU and provide over sight of training delivery process

n++ NSDC may support the implementation of the project under schemes like PMKVY/PMKK and other existent schemes subject to respective scheme guidelines

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GVK Power gains after exiting Bangalore Airport project
Jun 05,2017

The announcement was made after market hours on Friday, 2 June 2017.

Meanwhile, the S&P BSE Sensex was down 60.71 points, or 0.19% to 31,212.58.

On the BSE, 87,000 shares were traded in the counter so far, compared with average daily volumes of 9.72 lakh shares in the past one quarter. The stock had hit a high of Rs 6.30 and a low of Rs 6.02 so far during the day. The stock hit a 52-week high of Rs 7.70 on 14 February 2017. The stock hit a record low of Rs 4.13 on 6 June 2016.

The stock had underperformed the market over the past one month till 2 June 2017, falling 2.30% compared with 3.81% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 7.33% as against Sensexs 8.47% rise.

The small-cap company has equity capital of Rs 157.92 crore. Face value per share is Re 1.

GVK Power & Infrastructure announced that its board of directors at a meeting held on 2 June 2017, approved the sale of residual 3.84 crore shares corresponding to 10% of the issued & paid up share capital in Bangalore International Airport (BIAL) held by GVK Airport Developers through Bangalore Airport & Infrastructure Developers (BAIDPL), a step down subsidiary of the company, to FIH Mauritius Investments (FMIL) and its affiliates at an aggregate purchase consideration of Rs 1290 crore. The aforesaid sale will be completed upon obtaining necessary consents/approvals as may be necessary including from the lenders.

GVK Power & Infrastructure reported net loss of Rs 205.85 crore in Q4 March 2017 higher than net loss of Rs 105.59 crore in Q4 March 2016. Net sales rose 4.1% to Rs 7.10 crore in Q4 March 2017 over Q4 March 2016.

GVK is a leading Indian conglomerate with diversified interests across various sectors including energy, resources, airports, transportation, hospitality and life sciences.

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$100 Million ADB Loan to Punjab National Bank to Finance Solar Rooftop Projects
Jun 05,2017

The Asian Development Bank (ADB) and the Punjab National Bank (PNB) signed a $100 million loan n++ to be guaranteed by the Government of India n++ that will finance large solar rooftop systems on industrial and commercial buildings throughout India. The PNB will use the ADB funds to make further loans to various developers and end users to install rooftop solar systems.

This is the first tranche loan of the $500 million multitranche finance facility Solar Rooftop Investment Program (SRIP) approved by ADB in 2016. The financing includes $330 million from ADBs ordinary capital resources and $170 million from the multidonor Clean Technology Fund (CTF) administered by ADB. The first tranche loan of $100 million would be financed entirely from the CTF.

n++With a sharp drop in the price of solar panels, India has a huge potential to expand its use of solar rooftop technologies,n++ said Kenichi Yokoyama, ADB Country Director in India who signed the loan on behalf of ADB. n++The program will contribute to the governments plans to increase solar power generation capacity and also help India meet the carbon emission reduction target in line with its commitment at the recent global climate change agreement.n++

Indias solar rooftop market is expanding fast with an estimated total capacity potential of 124 gigawatt (GW).

n++The project is suitably aligned with the goals of Government of India to increase the countrys solar rooftop capacity by 40 GW by 2022,n++ said Raj Kumar, Joint Secretary (Multilateral Institutions), Department of Economic Affairs in the Ministry of Finance, who signed the guarantee agreement for Government of India. The loan agreement was signed by H. K Parikh, General Manager, on behalf of PNB.

The entire Solar Rooftop Investment Program will cost $1 billion and the projects financed under the program will install solar rooftop system of around 1 GW capacity. This will contribute to the climate change goal of reducing greenhouse gas emissions by about 11 million tons of carbon dioxide equivalent over the typical 25-year lifetime of rooftop solar systems.

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