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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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Board of Banas Finance appoints company secretary and compliance officer
Dec 02,2016

Banas Finance announced that the Board of Directors of the Company at its meeting held on 02 December 2016 approved appointment of Nikita Joshi as the Company Secretary and Compliance Officer of the Company under KMP category.

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Board of Ishaan Infrastructure & Shelters to review business
Dec 02,2016

Ishaan Infrastructure & Shelters announced that a meeting of the Board of Directors of the Company will be held on 10 December 2016 to review business.

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A2Z Infra Engg slumps as net loss widens in Q2
Dec 02,2016

The result was announced after market hours yesterday, 1 December 2016.

Meanwhile, the S&P BSE Sensex was down 259.38 points or 0.98% at 26,300.54.

On the BSE, 3.08 lakh shares were traded on the counter so far as against the average daily volumes of 2.83 lakh shares in the past one quarter. The stock had hit a high of Rs 42 and a low of Rs 38.05 so far during the day.

The stock had hit a 52-week high of Rs 51.65 on 1 November 2016 and a 52-week low of Rs 16.50 on 12 February 2016. It had underperformed the market over the past one month till 1 December 2016, sliding 12.11% compared with the Sensexs 4.72% fall. The scrip had, however, outperformed the market in past one quarter, advancing 16.6% as against the Sensexs 6.56% fall.

The small-cap company has equity capital of Rs 129.62 crore. Face value per share is Rs 10.

The companys net sales declined 42.7% to Rs 149.38 crore in Q2 September 2016 over Q2 September 2015.

A2Z Infra Engineering (formerly known as A2Z Maintenance & Engineering Services) is a fast growing, fully integrated electrical business group (EBG) in India catering to the needs of domestic and international power sector clients in building distribution and transmission infrastructure.

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No Curtailment of Funds for ICMR
Dec 02,2016

The allocation of funds to ICMR is as per approved budgetary provisions, against the demands projected by ICMR for various research activities. The allocation (BE) during last years is as follows: (Rs. in cr.)YearPlanNon Plan Total 2014-15531.00281.67812.672015-16568.17295.00863.172016-17610.00284.00894.00

There was no reduction in funding of ICMR for the last fiscal year, as compared to allocation for 2014-15. Allocation of Rs. 863.17 crore in 2015-16 was increased to Rs. 893.74 crore at RE stage.

The matter was taken up with Ministry of Finance and an additional allocation of Rs. 200.00 crore has been agreed for ICMR in 2016-17 for funding critical and important research projects, including extra-mural projects.  

The Government has constituted an Expert  Committee for Peer Review of functioning of ICMR, inter alia, to examine the intra-mural and extra-mural research programmes viz-a-viz availability of resources and their optimal utilisation, review of manpower component, scope of maximizing the internal resource generation, etc.

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AXISCADES Engineering spurts after winning contract from Airbus
Dec 02,2016

The announcement was made after market hours yesterday, 1 December 2016.

Meanwhile, the BSE Sensex was down 194.40 points, or 0.73%, to 26,365.52.

On the BSE, so far 3.68 lakh shares were traded in the counter, compared with average daily volumes of 54,793 shares in the past one quarter. The stock had hit a high of Rs 204.60 and a low of Rs 182.30 so far during the day.

The stock hit a 52-week high of Rs 349 on 3 December 2015. The stock hit a 52-week low of Rs 133.50 on 22 November 2016. The stock had underperformed the market over the past 30 days till 1 December 2016, falling 18% compared with the 3.51% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 17.07% as against Sensexs 6.91% decline.

The small-cap company has equity capital of Rs 13.59 crore. Face value per share is Rs 5.

AXISCADES Engineering Technologies has signed a strategic agreement with Airbus to provide a range of critical engineering services for all Airbus aircraft programmes as Tier-I supplier. The services will be provided from a dedicated development centre in Bengaluru.

On a consolidated basis, net profit of AXISCADES Engineering Technologies declined 53.01% to Rs 3.43 crore on 0.64% decline in net sales to Rs 93.55 crore in Q2 September 2016 over Q2 September 2015.

AXISCADES Engineering Technologies is a focused hi-technology solutions company catering to the futuristic needs of aerospace & defense, heavy engineering, automotive and industrial product sectors.

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HCC witnesses volatility after fund raising announcement
Dec 02,2016

The announcement was made during market hours today, 2 December 2016.

Meanwhile, the S&P BSE Sensex was down 183.80 points or 0.69% at 26,376.12.

On the BSE, 60.16 lakh shares were traded on the counter so far as against the average daily volumes of 27.60 lakh shares in the past one quarter. The stock was volatile. At the days high of Rs 42.65 so far, which is also its 52-week high, the stock has risen 4.02%. At the days low of Rs 39.85 so far, the stock has lost 2.8%.

The stock had hit a 52-week low of Rs 16.60 on 12 February 2016. It had outperformed the market over the past one month till 1 December 2016, surging 12.33% compared with the Sensexs 4.72% fall. The scrip had also outperformed the market in past one quarter, advancing 25.19% as against the Sensexs 6.56% fall.

The mid-cap company has equity capital of Rs 77.92 crore. Face value per share is Rs 1.

Hindustan Construction Companys (HCC) board at its meeting held today, 2 December 2016, approved issue of 25.19 crore equity shares of the company, representing 24.44% of the expanded share capital of the company and such and optionally convertible debentures (OCDs) of face value Rs 1000 each not exceeding Rs 2000 crore on preferential basis, to lenders, subject to shareholders approval.

The company will convene an extraordinary general meeting (EGM) on 5 January 2017, for seeking shareholders approval for the above.

The board has also approved Rs 2100 crore bank guarantee (BG) limits for release of arbitral award amount as per Cabinet Committee on Economic Affairs (CCEA) approval for revival of the construction sector directing government agencies to pay 75% of the arbitral award amount against margin free BG.

HCCs net profit declined 42.8% to Rs 23.08 crore on 8.2% decline in net sales to Rs 759.03 crore in Q2 September 2016 over Q2 September 2015.

HCC develops and builds infrastructure.

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Tractor Volumes to Rebound by 17% yoy in FY17
Dec 02,2016

India Ratings and Research (Ind-Ra) expects tractor volumes to grow by around 17% yoy in FY17 (FY16: negative 8.9% yoy), driven by the improved growth prospects of the agriculture sector as well as a low base effect. Ind-Ra expects agriculture gross value added (GVA) to grow 2.9% yoy in FY17 (FY16: 1.2%; FY15: negative 0.2%).

Ind-Ra expects overall volume growth to be lower in 2HFY17 (around 14%). The currency demonetisation would have a negative impact on the tractor sales in the next couple of months, post which demand is likely to normalize aided by the government focus to boost liquidity in the rural areas on a priority basis. However, Ind-Ra observes that the industry growth in 1HFY17 has not been uniform across the country, with southern and western India seeing high double-digit growth, while growth in the northern and central India was muted. Thus, a strong uptick in growth in the northern and central markets could lead to a higher growth rate for the year.

Ind-Ra observes that currency demonetisation has impacted farmers seeds and fertiliser purchases. If the cash crunch prevails for a longer time, it may lead to lower agriculture GVA and may have a more pronounced impact on tractor sales volumes in FY17.

Overall the Southwest monsoon situation in 2016 was much better than the previous two years and is likely to aid volume growth for the industry. The other indicators such as area sown under kharif crops as well as advance estimates of food grain production have also seen an improvement, indicating improved agricultural production this year.

The improved agricultural output should aid the loan asset quality in the tractor segment where delinquency levels have shot up. While the normalisation of asset quality is likely to be a prolonged affair, given the severity of the problem, the trends should be encouraging. The improved prospects should persuade larger participation from banks and non-banking finance companies, increasing the finance penetration and thereby aiding sales.

The long-term drivers of the sector demand such as gradual increase in farm mechanisation, increasing penetration of tractors, government impetus on increasing farm productivity and increasing usage of tractors for non-farm activities remain intact. Increasing affordability of small and marginal farmers for tractors through government initiatives as well as innovative approaches such as tractor on rentals could also significantly increase tractor demand.

Sector companies are likely to see a margin expansion of up to 300bp due to operating leverage benefits. Sector companies have around 20% of the costs fixed in their cost structure and thus volume growth could lead to a margin expansion. However, around 75% of the raw materials consumed are derived from steel and iron, and thus profitability could be impacted by volatility in these commodities.

Most sector companies have adequate capacities to grow over the next two to three years, resulting in low capex requirements primarily for new product launches as well as maintenance capex. Thus, the credit profile is likely to remain strong and further improve in FY17. Improvements in revenue and operating margins would result in higher cash flows for sector companies in FY17.

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Board of Sujana Towers to consider September quarter results
Dec 02,2016

Sujana Towers announced that the meeting of the Board of Directors of the Company, will be Scheduled to be held on 14 December 2016 to consider and approve the Un-audited Financial Results of the Company for the quarter ended 30 September 2016, along with Assets and Liabilities, Limited Review Report and any other business as may be permitted by the Chairman.

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Dhunseri Petrochem to announces September quarter results
Dec 02,2016

Dhunseri Petrochem announced that a meeting of the Board of Directors of the Company, shall be held on 09 December 2016, inter-alia, to consider the Unaudited Financial Results of the Company for the quarter ended 30 September 2016.

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Board of Hindustan Construction Company approves restructuring of debt under S4A scheme
Dec 02,2016

Hindustan Construction Company approved the issuance of equity shares as well as optionally convertible debentures to lenders under RBIs S4A scheme.

The Board of Directors of the Company at its meeting held on 02 December 2016 approved the issuance of 25,19,92,670 equity shares of the company of face value of Re 1 each, representing 24.44% of the expanded share capital of the company and such optionally convertible debentures of face value of Rs 1000 each not exceeding Rs 2000 crore on preferential basis, to the Lenders.

The Board has decided to convene EGM on 05 January 2017 for seeking shareholders approval for the above matter.

HCC is the first company to get debt restructured under the S4A scheme.

The Board also approved Rs 2100 crore Bank Guarantee limits for release of arbitral awards amount as per CCEA approval for revival of the construction sector directing the government agencies to pay 75% of the arbitral award against margin free bank guarantee.

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Volumes jump at Syngene International counter
Dec 02,2016

Syngene International clocked volume of 35.61 lakh shares by 13:31 IST on BSE, a 233.70-times surge over two-week average daily volume of 15,000 shares. The stock fell 6.33% to Rs 567.

Cyient notched up volume of 2.06 lakh shares, a 88.31-fold surge over two-week average daily volume of 2,000 shares. The stock rose 0.88% to Rs 496.75.

Bajaj Finserv saw volume of 4.07 lakh shares, a 16.84-fold surge over two-week average daily volume of 24,000 shares. The stock rose 1.32% to Rs 2,969.85.

AXISCADES Engineering Technologies clocked volume of 3.51 lakh shares, a 6.36-fold surge over two-week average daily volume of 55,000 shares. The stock rose 13.33% to Rs 201.55.

Nucleus Software Exports saw volume of 3.60 lakh shares, a 5.99-fold rise over two-week average daily volume of 60,000 shares. The stock rose 10.54% to Rs 284.20.

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Tata Communications leads losers in A group
Dec 02,2016

Tata Communications declined 4.59% to Rs 635.25 at 13:12 IST. The stock topped the losers in the BSEs A group. On the BSE, 43,000 shares were traded on the counter so far as against the average daily volumes of 59,000 shares in the past two weeks.

Bharat Financial Inclusion fell 4.53% at Rs 709.45. The stock was second biggest loser in A group. On the BSE, 1.31 lakh shares were traded on the counter so far as against the average daily volumes of 2.74 lakh shares in the past two weeks.

MMTC lost 4.5% to Rs 49.85. The stock was third biggest loser in A group. On the BSE, 3.25 lakh shares were traded on the counter so far as against the average daily volumes of 2.95 lakh shares in the past two weeks.

Union Bank of India declined 4.14% at Rs 141.40. The stock was fourth biggest loser in A group. On the BSE, 4.08 lakh shares were traded on the counter so far as against the average daily volumes of 6.27 lakh shares in the past two weeks.

RattanIndia Power fell 3.96% to Rs 7.27. The stock was fifth biggest loser in A group. On the BSE, 3.03 lakh shares were traded on the counter so far as against the average daily volumes of 3.23 lakh shares in the past two weeks.

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Water level of 91 major Reservoirs of the Country goes down by two per cent
Dec 02,2016

The Water storage available in 91 major reservoirs of the country for the week ending on December 01, 2016 was 102.841 BCM, which is 65% of total storage capacity of these reservoirs. This was 126% of the storage of corresponding period of last year and 98% of storage of average of last ten years.

The total storage capacity of these 91 reservoirs is 157.799 BCM which is about 62% of the total storage capacity of 253.388 BCM which is estimated to have been created in the country. 37 Reservoirs out of these 91 have hydropower benefit with installed capacity of more than 60 MW.

REGION WISE STORAGE STATUS:-

NORTHERN REGION

The northern region includes States of Himachal Pradesh, Punjab and Rajasthan. There are 6 reservoirs under Central Water Commission (CWC) monitoring having total live storage capacity of 18.01 BCM. The total live storage available in these reservoirs is 10.48 BCM which is 58% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 67% and average storage of last ten years during corresponding period was 67% of live storage capacity of these reservoirs. Thus, storage during current year is less than the corresponding period of last year and is also less than the average storage of last ten years during the corresponding period.

EASTERN REGION

The Eastern region includes States of Jharkhand, Odisha, West Bengal and Tripura. There are 15 reservoirs under CWC monitoring having total live storage capacity of 18.83 BCM. The total live storage available in these reservoirs is 15.38 BCM which is 82% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 61% and average storage of last ten years during corresponding period was 71% of live storage capacity of these reservoirs. Thus, storage during current year is better than the corresponding period of last year and is also better than the average storage of last ten years during the corresponding period.

WESTERN REGION

The Western region includes States of Gujarat and Maharashtra. There are 27 reservoirs under CWC monitoring having total live storage capacity of 27.07 BCM. The total live storage available in these reservoirs is 21.13 BCM which is 78% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 49% and average storage of last ten years during corresponding period was 72% of live storage capacity of these reservoirs. Thus, storage during current year is better than the storage of last year and is also better than the average storage of last ten years during the corresponding period.

CENTRAL REGION

The Central region includes States of Uttar Pradesh, Uttarakhand, Madhya Pradesh and Chhattisgarh. There are 12 reservoirs under CWC monitoring having total live storage capacity of 42.30 BCM. The total live storage available in these reservoirs is 34.92 BCM which is 83% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 63% and average storage of last ten years during corresponding period was 62% of live storage capacity of these reservoirs. Thus, storage during current year is better than the storage of last year and is also better than the average storage of last ten years during the corresponding period.

SOUTHERN REGION

The Southern region includes States of Andhra Pradesh, Telangana, AP&TG (Two combined projects in both states) Karnataka, Kerala and Tamil Nadu. There are 31 reservoirs under CWC monitoring having total live storage capacity of 51.59 BCM. The total live storage available in these reservoirs is 20.94 BCM which is 41% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 35% and average storage of last ten years during corresponding period was 66% of live storage capacity of these reservoirs. Thus, storage during current year is better than the corresponding period of last year but is less than the average storage of last ten years during the corresponding period.

States having better storage than last year for corresponding period are Punjab, Rajasthan, Jharkhand, Odisha, West Bengal, Gujarat, Maharashtra, Uttar Pradesh, Uttarakhand, Madhya Pradesh, Chhattisgarh, AP&TG (Two combined projects in both states), Telangana and Karnataka. States having lesser storage than last year for corresponding period are Himachal Pradesh, Tripura, Andhra Pradesh, Kerala and Tamil Nadu.

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TVS Motor slides after muted sales in November
Dec 02,2016

The announcement was made after market hours yesterday, 1 December 2016.

Meanwhile, the BSE Sensex was down 246.34 points, or 0.93%, to 26,313.58.

On the BSE, so far 50,000 shares were traded in the counter, compared with average daily volumes of 2.04 lakh shares in the past one quarter. The stock had hit a high of Rs 365.90 and a low of Rs 357.35 so far during the day.

The stock hit a record high of Rs 418 on 28 October 2016. The stock hit a 52-week low of Rs 256.30 on 29 February 2016. The stock had underperformed the market over the past 30 days till 1 December 2016, falling 8.20% compared with the 3.51% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 10.80% as against Sensexs 6.91% decline.

The large-cap company has equity capital of Rs 47.51 crore. Face value per share is Re 1.

TVS Motor Company said that due to the demonetization exercise, the company witnessed a short-term impact on November sales. However, the company is seeing a sales pickup already happening.

TVS Motor Companys total two-wheeler sales rose 0.63% to 2.19 lakh units in November 2016 over November 2015. Scooters sales fell 3.82% to 73,135 units in November 2016 over November 2015. Motorcycles sales fell 17.36% to 67,896 units in November 2016 over November 2015.

Three-wheeler sales fell 23.55% to 5,883 units in November 2016 over November 2015.

Total exports fell 2.36% to 32,829 units in November 2016 over November 2015.

TVS Motor Companys net profit rose 33.4% to Rs 177.39 crore on 21.1% growth in net sales to Rs 3393.14 crore in Q2 September 2016 over Q2 September 2015.

TVS Motor Company is a leading two and three-wheeler manufacturer.

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Steel Strips Wheels slips on profit booking
Dec 02,2016

Meanwhile, the S&P BSE Sensex was down 262.33 points or 0.99% at 26,297.59.

On the BSE, 13,000 shares were traded on the counter so far as against the average daily volumes of 10,746 shares in the past one quarter. The stock had hit a high of Rs 630 and a low of Rs 609 so far during the day.

The stock had hit a record high of Rs 775 on 14 October 2016 and a 52-week low of Rs 284 on 17 February 2016.

The small-cap company has equity capital of Rs 15.53 crore. Face value per share is Rs 10.

Shares of Steel Strips Wheels (SSWL) had rallied 23.47% in the preceding five trading sessions to settle at Rs 631.95 yesterday, 1 December 2016, from its close of Rs 511.80 on 24 November 2016.

Lions portion of the rally materialized in a single trading yesterday, 1 December 2016, when the stock settled higher by 15.76%, after the company during market hours yesterday, reported a 14% rise in total wheel rim sales at 11.99 lakh units in November 2016 over November 2015.

Net profit of SSWL rose 19.9% to Rs 18.02 crore on 2.8% decline in net sales to Rs 290.95 crore in Q2 September 2016 over Q2 September 2015.

SSWL designs and manufactures automotive steel wheels and is among the leading supplier to Indian and global automobile manufacturers.

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