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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 Power, Adani Power slump as top court sets aside tribunal order
Apr 11,2017

Meanwhile, the BSE Sensex was up 181.27 points, or 0.61%, to 29,757.01.

Shares of Tata Power Company dropped 2.99% to Rs 84.50. The stock hit high of Rs 90.20 and low of Rs 81.30 so far during the day. On BSE, so far 25.11 lakh shares were traded in the counter, compared with an average volume of 3.47 lakh shares in the past two weeks.

Shares of Adani Power dropped 16.01% to Rs 37.25. The stock hit high of Rs 46.30 and low of Rs 36.55 so far during the day. On BSE, so far 1.16 crore shares were traded in the counter, compared with an average volume of 13.23 lakh shares in the past two weeks.

The Supreme Court (SC) today, 11 April 2017, set aside an earlier Appellate Tribunal for Electricity (Aptel) ruling that allowed Tata Power and Adani Power to charge compensatory tariff from consumers.

A bench comprising justices Pinaki Chandra Ghose and Rohinton F. Nariman ruled in a batch of appeals filed against an April 2016 ruling of Aptel which held that an unforeseen increase in the cost of coal would be a n++force majeure eventn++ under the power purchase agreements (PPAs) between power generating companies and distributors. SC said higher tariffs could be allowed only if there was a change in Indian laws.

The companies had cited a change in Indonesian regulations in 2010 as a force majeure event that increased the cost of coal imported by Tata Power and Adani Power from that country to fuel their electricity plants.

Tata Powers wholly-owned subsidiary Coastal Gujarat Power (CGPL) and Adani Powers Mundra project in Gujarat have PPAs with state discoms in Rajasthan, Gujarat, Haryana and Punjab. Both generating plants are fueled by coal imported from Indonesia.

On a consolidated basis, Adani Power reported net loss of Rs 323.61 crore in Q3 December 2016, compared with the net profit of Rs 109.49 crore in Q3 December 2015. Net sales declined 6.15% to Rs 5803.52 crore in Q3 December 2016 over Q3 December 2015.

Adani Power is the largest private thermal power producer in India with an installed capacity of 10,480 MW.

On a consolidated basis, net profit of Tata Power Company rose 38.30% to Rs 599.20 crore on 8.68% decline in net sales to Rs 6677.89 crore in Q3 December 2016 over Q3 December 2015.

Tata Power is Indias largest integrated power company with a significant international presence. The company has a presence in all the segments of the power sector viz generation (thermal, hydro, solar and wind), transmission, distribution and trading.

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Ishan Dyes & chemicals to undertake expansion and modernization
Apr 11,2017

Ishan Dyes & chemicals announced that the management has charted out expansion and modernization plan with a view to increase its Pigment Blue production capacity by 960 MT per annum. The Company is also setting up new QC and R&D laboratory with modern equipment so as to facilitate development of new ranges of its product. The management aims to complete the expansion and modernization plan before end of current financial year.

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CBDT issues PAN and TAN within 1 day to improve Ease of Doing Business
Apr 11,2017

In order to improve the Ease of Doing Business for newly incorporated corporates, CBDT has tied up with Ministry of Corporate Affairs (MCA) to issue Permanent Account Number (PAN) and Tax Deduction Account Number (TAN) in 1 day.

Applicant companies submit a common application form SPICe (INC 32) on MCA portal and once the data of incorporation is sent to CBDT by MCA, the PAN and TAN are issued immediately without any further intervention of the applicant. The Certificate of Incorporation (COI) of newly incorporated companies includes the PAN in addition to the Corporate Identity Number (CIN). TAN is also allotted simultaneously and communicated to the Company.

Till 31st March 2017, 19,704 newly incorporated Companies were allotted PAN in this manner. During March, 2017, of the 10,894 newly incorporated companies, PAN was allotted within 4 hrs in 95.63% cases and within 1 day in all cases. Similarly, TAN was allotted to all such companies within 4 hrs in 94.7 % cases and within 1 day in 99.73% cases.

CBDTs initiative in starting of a business is expected to significantly improve the ranking of India in the Ease of Doing Business Study conducted by World Bank by reducing the number of processes of registration before various authorities under law, reducing the time taken for allotment of the registration number (CIN, PAN, TAN) and making the entire registration process for new companies much simpler.

CBDT has also introduced the Electronic PAN Card (E-PAN) which is sent by email, in addition to issue of the physical PAN Card, to all applicants including individuals where PAN is allotted. Applicant would be benefited by having a digitally signed E-PAN card which they can submit as proof of identity to other agency electronically directly or by storing in the Digital Locker

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Indian Hume Pipe turns hot after new order win
Apr 11,2017

The announcement was made after market hours yesterday, 10 April 2017.

Meanwhile, the BSE Sensex was up 204.12 points, or 0.69%, to 29,779.86. The BSE Small-Cap index was up 105.82 points, or 0.72%, to 14,881.85.

On BSE, so far 9,090 shares were traded in the counter, compared with average daily volume of 5,097 shares in the past one quarter. The stock hit a high of Rs 424 and a low of Rs 416.50 so far during the day. The stock hit a 52-week high of Rs 459 on 9 February 2017. The stock hit a 52-week low of Rs 160 on 11 April 2016.

The stock had outperformed the market over the past one month till 10 April 2017, rising 3.54% compared with 2.17% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, rising 8.9% as against Sensexs 9.95% rise.

The small-cap company has equity capital of Rs 9.69 crore. Face value per share is Rs 2.

Indian Hume Pipe Company secured work order from Public Health Engineering Department, NCR Region, Alwar, Government of Rajasthan for execution of the work of re-organization of urban water supply scheme at Alwar and Bhiwadi towns. The project is to be completed within 24 months from signing of agreement.

Indian Hume Pipe Companys net profit rose 182.09% to Rs 17.80 crore on 105.30% rise in net sales to Rs 406.50 crore in Q3 December 2016 over Q3 December 2015.

Indian Hume Pipe Company is engaged in the business of providing integrated water supply schemes including manufacturing, laying and jointing of pipelines of various pipe materials which provide infrastructure facility for development of water supply and irrigation projects.

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Rural Electrification Corporation leads gainers on BSEs A group
Apr 11,2017

Rural Electrification Corporation rose 12.75% at Rs 206.05. The stock topped the gainers in A group. On the BSE, 27.75 lakh shares were traded on the counter so far as against the average daily volumes of 8.27 lakh shares in the past two weeks.

Power Finance Corporation rose 7.22% at Rs 163.40. The stock was the second biggest gainer in A group. On the BSE, 21.75 lakh shares were traded on the counter so far as against the average daily volumes of 7.69 lakh shares in the past two weeks.

Prestige Estates Projects rose 5.26% at Rs 219.15. The stock was the third biggest gainer in A group. On the BSE, 53,000 shares were traded on the counter so far as against the average daily volumes of 53,000 shares in the past two weeks.

Karnataka Bank rose 4.62% at Rs 152.90. The stock was the fourth biggest gainer in A group. On the BSE, 9.42 lakh shares were traded on the counter so far as against the average daily volumes of 3.21 lakh shares in the past two weeks.

Apollo Tyres rose 4.34% at Rs 226.20. The stock was the fifth biggest gainer in A group. On the BSE, 4.71 lakh shares were traded on the counter so far as against the average daily volumes of 3.33 lakh shares in the past two weeks.

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Goodluck India shines on plans to setup new manufacturing unit
Apr 11,2017

The announcement was made after market hours yesterday, 10 April 2017.

Meanwhile, the S&P BSE Sensex was up 157.78 points or 0.53% at 29,733.52. The S&P BSE Small-Cap index was up 86.57 points or 0.59% at 14,862.60.

On the BSE, so far 23,000 shares were traded in the counter, compared with average daily volumes of 14,089 shares in the past one quarter. The stock had hit a high of Rs 91.70 and a low of Rs 88.15 so far during the day.

The stock hit a record high of Rs 134.40 on 3 August 2016. The stock hit a 52-week low of Rs 78.10 on 22 November 2016. The stock had outperformed the market over the past one month till 10 April 2017, rising 3.49% compared with 2.17% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, sliding 5.46% as against Sensexs 9.95% rise.

The small-cap company has equity capital of Rs 4.40 crore. Face value per share is Rs 2.

Goodluck India announced that the company is coming up with new manufacturing facility for its existing line of business eg. steel tubes, pipes, precision tubes etc. at its land situated at village: SikraTaluka-Bhachau (Kachchh), Gujarat. The companys existing manufacturing capacity is 2,30,000 MTPA and presently running at optimal capacity utilization The proposed manufacturing facility of approx 72,000 MTPA will add in the companys total production capacity, Goodluck India said.

The proposed manufacturing facility is coming up at companys already owned land in Gujarat with the total investment of Rs 74 crore which will met by debt and internal accruals/promoters contribution. The plant is expected to be commissioned by April 2018, the company said.

The location of proposed facility is within proximity of two ports i.e. Kandla Sea Port and Mundra Sea Port and strategically very suitable to the proposed project as it will reduce freight cost for exports to a significant extent and will give an edge over the competitors. Beside that proposed location for the project is well equipped with all the basic amenities and infrastructure facilities for the industry, it added.

Net profit of Goodluck India declined 80.54% to Rs 1.52 crore on 16.34% rise in net sales to Rs 302.94 crore in Q3 December 2016 over Q3 December 2015.

Goodluck India changed its name from Good Luck Steel Tubes in June 2016. The company is engaged in manufacturing and exporting of a wide range of galvanized sheets & coils, towers, hollow sections, CR coils CRCA and pipes & tubes. It also specializes in providing telecommunication structures, ERW steel tubes, ERW steel pipes, and galvanized black steel tubes.

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Moodys: Collections on loans in Indian auto ABS rise in February
Apr 11,2017

Moodys Investors Service says that the collection of repayments on the loans in Indian auto asset-backed securities (ABS) improved in February, returning to levels that occurred prior to the governments decision to remove a high proportion of currency notes from circulation (demonetization) in November 2016.

At the same time, auto ABS delinquencies increased in February 2017 after a slight improvement in December 2016 and stabilization in January 2017, but will decline back to pre-demonetization levels by June if economic activity continues to pick up and oil prices remain in a range between $40 and $60 a barrel.

Delinquencies had increased in the wake of demonetization because the decline in economic activity triggered by the policy resulted in a loss of income for some commercial vehicle operators, causing them to miss auto loan repayments, says Vincent Tordo, a Moodys Analyst.

At end-February, over 30 days in arrears was at 12.7%, compared with 10.9% in December 2016.

However, measures of economic activity in India -- such as manufacturing, services and industrial production activity -- now appear to have bottomed post the governments action in November last year, adds Tordo.

Another reason for the rise in delinquencies in February was the increase in prepayment rates, which reduced outstanding balances in auto loans at a faster rate than the average rate.

This development contributed to the increase in delinquency rates, because arrears levels were higher relative to the smaller outstanding balances.

In India, commercial vehicle loan originators often attempt to persuade borrowers to sell their vehicles and repay their loans if the vehicles are not being used intensively.

Such a development may have occurred in the aftermath of demonetization, thereby pushing up the prepayment rate. Given the circumstances that drive prepayments in India, prepayment rates can be volatile and do not necessarily reflect improving performance.

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Delta Corp gains on bargain hunting
Apr 11,2017

Meanwhile, the S&P BSE Sensex was up 169.49 points, or 0.57% to 29,745.23.

On the BSE, 6.76 lakh shares were traded in the counter so far, compared with average daily volumes of 10.90 lakh shares in the past one quarter. The stock had hit a high of Rs 184.30 and a low of Rs 179.25 so far during the day.

The stock hit a record high of Rs 218.40 on 5 April 2017. The stock hit a 52-week low of Rs 76.80 on 6 May 2016.

The stock had outperformed the market over the past one month till 10 April 2017, rising 4.58% compared with 2.17% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 38.52% as against Sensexs 9.95% rise.

The mid-cap company has equity capital of Rs 23.16 crore. Face value per share is Re 1.

Shares of Delta Corp fell 16.10% in four trading sessions to settle at Rs 179.25 yesterday, 10 April 2017, from its close of Rs 213.65 on 3 April 2017.

Recent selling in the stock was triggered by rumors of a possible merger of Daman and Diu -- a coastal Union Territory (UT) -- with the state of Gujarat.

As per market buzz, Prime Minister Narendra Modi, during his upcoming visit to the UT on 17 April 2017, may consider the proposal for the merger. The merger of Daman and Diu with Gujarat will hurt Delta Corps casino business in the region because gambling is banned in Gujarat. Delta Corp operates an integrated hotel and casino resort in Daman.

Delta Corps consolidated net profit rose 37.2% to Rs 10.06 crore on 4.47% increase in net sales to Rs 103.57 crore in Q3 December 2016 over Q3 December 2012.

Delta Corp owns three offshore casinos in Goa out of a total of six, making it the dominant player in Goa. In March 2014, Delta Corp launched The Deltin, Indias largest integrated casino resort, in Daman. The soon to be launched casino at The Deltin will be spread over 60,00 square feet, and will have approximately 1,000 gaming positions.

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Filatex India zooms 29.22% in eight sessions
Apr 11,2017

Meanwhile, the S&P BSE Sensex was up 184.33 points, or 0.62% at 29,760.07. The S&P BSE Small-cap index was up 120.42 points, or 0.81% at 14,896.45.

On the BSE, 46,000 shares were traded on the counter so far as against the average daily volumes of 1.36 lakh shares in the past one quarter. The stock had hit a high of Rs 148.80 and a low of Rs 144 so far during the day.

The stock had hit a record high of Rs 149.30 on 10 April 2017 and a 52-week low of Rs 38 on 8 April 2016. The stock had outperformed the market over the past one month till 10 April 2017, advancing 24.92% compared with the Sensexs 2.17% rise. The scrip had also outperformed the market over the past one quarter advancing 101.54% as against the Sensexs 9.95% rise.

The small-cap company has equity capital of Rs 43.50 crore. Face value per share is Rs 10.

Shares of Filatex India sizzled 29.22% in eight trading sessions to its current ruling price of Rs 147.90, from a close of Rs 114.45 on 29 March 2017.

Filatex Indias net profit rose 25.4% to Rs 7.20 crore on 22.7% increase in net sales to Rs 366.59 crore in Q3 December 2016 over Q3 December 2015.

Filatex India is engaged in manufacture and trading of synthetic yarn and textiles. It manufactures polyester and polypropylene multifilament yarn, and polyester chips.

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Zenith Computers announces demise of director
Apr 11,2017

Zenith Computers announced that Vipin Maneklal Shah, an Independent Director, passed away on 28 March 2017.

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Websol Energy System provides update settlement of dues
Apr 11,2017

Websol Energy System announced that with regard to the bank settlement the Company has received NOC from Standard chartered bank and HDFC Bank pursuant to payment of entire amount of OTS. Further company has also received NOC from Axis Bank on final payment of their dues .

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Gujarat Apollo Industries gains on buyback proposal
Apr 11,2017

The announcement was made after market hours yesterday, 10 April 2017.

Meanwhile, the S&P BSE Sensex was up 164.83 points, or 0.56% to 29,740.57.

On the BSE, 20,000 shares were traded in the counter so far, compared with average daily volumes of 8,983 shares in the past one quarter. The stock had hit a high of Rs 168 and a low of Rs 161 so far during the day.

The stock hit a 52-week high of Rs 180.60 on 9 February 2017. The stock hit a 52-week low of Rs 118 on 16 May 2016.

The stock had outperformed the market over the past one month till 10 April 2017, rising 12.56% compared with 2.17% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 15.12% as against Sensexs 9.95% rise.

The small-cap company has equity capital of Rs 13.66 crore. Face value per share is Rs 10.

Gujarat Apollo Industries announced that the meeting of its board of directors will be held on Thursday, 13 April 2017, to evaluate the proposal for buyback of equity shares of the company.

Gujarat Apollo Industries reported net profit of Rs 0.65 crore in Q3 December 2016 as against net loss of Rs 0.86 crore in Q3 December 2015. Net sales declined 28% to Rs 12.51 crore in Q3 December 2016 over Q3 December 2015.

Gujarat Apollo Industries manufactures and exports construction and mining equipments.

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Government makes compliance of Labour Laws and Rules easy
Apr 11,2017

The Government has undertaken an exercise to promote ease of compliance of Labour Laws and Rules by various establishments. The n++Rationalisation of Forms and Reports under Certain Labour Laws Rules, 2017n++ has reduced the number of forms and reports prescribed under 3 Acts and the Rules made thereunder from 36 to 12. The overall aim of the exercise is to make the forms and reports easy to understand for the users. This will save efforts, costs and lessen the compliance burden of various establishments. As per the sixth Economic Census of Central Statistical Office, conducted during 2013-2014,there are about 5.85 crore establishments in agriculture and non- agriculture sectors of the country.

While reviewing the requirement of filing forms under various Labour Laws it was observed that 36 forms prescribed under 3 Acts and the Rules made thereunder had several overlapping/redundant fields. Therefore, an exercise was undertaken by the Ministry of Labour and Employment to do away with overlapping fields and reduce the number of forms. An intention notification for reducing the number of forms and reports was placed in the public domain on 9th February, 2017 and objections and suggestions thereon were sought from all stake-holders.

The Labour Laws under which these forms are filed include:

(I) The Contract Labour (Regulation and Abolition) Act, 1970

(II) The Inter-State Migrant Workmen (Regulation of Employment and Conditions of Service) Act, 1979

(III) The Building and Other Construction Workers (Regulation of Employment and Conditions of Service) Act, 1996.

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Adani Transmission reverses recent rally
Apr 11,2017

Meanwhile, the S&P BSE Sensex was up 177.64 points or 0.6% at 29,753.88. The S&P BSE Mid-Cap index was up 101.82 points or 0.71% at 14,424.11

On the BSE, 4.48 lakh shares were traded in the counter so far as against average daily volume of 2.24 lakh shares in the past one quarter. The stock had hit a high of Rs 95.50 and a low of Rs 90 so far during the day. The stock had hit a record high of Rs 96 yesterday, 10 April 2017. The stock had hit a 52-week low of Rs 28.35 on 20 May 2016.

The stock had outperformed the market over the past one month till 10 April 2017, rising 50.84% compared with 2.17% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 58.5% as against Sensexs 9.95% rise.

The large-cap company has equity capital of Rs 1099.81 crore. Face value per share is Rs 10.

Shares of Adani Transmission were on a roll recently surging 45.69% in five trading sessions to settle at Rs 93.75 yesterday, 10 April 2017 from its close of Rs 64.35 on 31 March 2017. The gains were triggered after the company announced that it has received letter of intents for three transmission projects in Rajasthan.

The stock had jumped 6.06% to Rs 68.25 on 3 April 2017 after the company said that it has received three letter of intents from RVPN (Rajasthan Rajya Vidyut Prasaran Nigam) to construct, own, operate and maintain three transmission projects in Rajasthan. The projects namely Hadoti Transmission Company (PPP-8), Barmer Transmission Company (PPP 9), and Thar Transmission Company (PPP-10) collectively have approximately 350 circuit kilometers (ckt kms) of lines and 16 substations with transformation capacity of approx. 600 MVA at voltage level of 132/220 KV. The announcement was made during market hours on 3 April 2017.

Adani Transmissions consolidated net profit jumped 32.8% to Rs 99.28 crore on 38.5% rise in net sales to Rs 729.22 crore in Q3 December 2016 over Q3 December 2015.

Adani Transmission is into power transmission business and is a part of business conglomerate Adani Group.

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Aarti Inds sweetens on plans to set up R&D and innovation facility
Apr 11,2017

The announcement was made after market hours yesterday, 10 April 2017.

Meanwhile, the S&P BSE Sensex was up 194.56 points or 0.66% at 29,770.30. The S&P BSE Mid-Cap index was up 105.73 points or 0.74% at 14,428.02

On BSE, so far 648 shares were traded in the counter as against average daily volume of 29,491 shares in the past one quarter. The stock hit a high of Rs 796 and a low of Rs 787.20 so far during the day. The stock had hit a 52-week low of Rs 480.10 on 6 June 2016. The stock had hit a record high of Rs 809 on 28 March 2017.

The stock had underperformed the market over the past one month till 10 April 2017, rising 0.6% compared with 2.17% rise in the Sensex. The scrip, however, outperformed the market in past one quarter, gaining 11.87% as against Sensexs 9.95% rise.

The mid-cap company has equity capital of Rs 41.66 crore. Face value per share is Rs 5.

Aarti Industries announced that the board of directors of the company have approved an investment of Rs 75 crore to set up a world class research and development (R&D), scale-up and innovation complex at Jhagadia, Gujarat spread over 50,000 sq. ft. and equipped with the state-of-the-art equipment and analytical tools.

The new complex would comprise an R&D centre, a scale-up facility consisting of a kilo-lab and a pilot plant, an innovation center, dedicated labs for process safety, effluent treatment, etc. It will house over 150 scientists and engineers responsible for researching and developing breakthrough innovations, as well as for commercial scale up of various speciality chemicals.

The complex will more than double the companys R&D capabilities and focus on development of newer and niche value-added products and process chemistries, improving product quality and process yields of existing products, forward integration for downstream products etc, with thrust on environment friendly processes.

It will enable the company to further strengthen its global presence in the end-user applications of agrochemicals, fuel additives, pharmaceuticals, polymers, rubber chemicals, etc.

Aarti Industries is a knowledge-driven company and presently operates three R&D centres. Two of these centres focus on R&D initiatives for pharmaceutical APIs and the third one on speciality chemicals.

Aarti Industries net profit rose 21.61% to Rs 73.84 crore on 3.4% growth in net sales to Rs 759.33 crore in Q3 December 2016 over Q3 December 2015.

Aarti Industries is one of the most competitive benzene-based speciality chemical companies in the world. The company serves leading consumers across the globe of speciality chemicals and intermediate for pharmaceuticals, agro chemicals, polymers, pigments, printing inks, dyes, fuel additives, aromatics, surfactants and various other speciality chemicals. The company has 125+ products, 500+ domestic customers, 150+ export customers spread across the globe in 60 countries with major presence in USA, Europe, Japan.

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