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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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Release of the Central Governments assistance of Rs.1,712.10 crore from National Disaster Response Fund (NDRF) to Tamil Nadu and Karnataka
Apr 03,2017

The Central Government is concerned at prevailing drought situation in the States of Tamil Nadu and Karnataka. After the receipt of detailed memoranda from these States, Inter-Ministerial Central Teams (IMCT) were deputed to visit the drought affected areas for the spot assessment of the calamity. The High Level Committee (HLC) had recommended the quantum of assistance to the States based on the extant norms of assistance and the report of the IMCT.Based on the approval of the High Level Committee (HLC), the Central Government has sanctioned Rs.1793.63 crore to State of Tamil Nadu and Rs.1,782.44 crore to State of Karnataka for drought relief from NDRF. Based on the above sanctions, a sum of Rs.1447.99 crore has been released to the State of Tamil Nadu by the Central Government from NDRF after adjusting Rs.345.64 crore available with the State as balance in the State Disaster Response Fund (SDRF).For State of Karnataka, after adjusting Rs.96.92 crore available with the State as balance in the SDRF and earlier release of Rs.450 crore by the Central Government, sum of Rs.1,235.52 crore has been released from NDRF.The HLC has also advised the State Governments to take utmost care and ensure that all the individual beneficiary-oriented assistance are mandatorily disbursed through the bank account of the beneficiaries. Further, the Central Government has released Rs.264.11 crore from NDRF for providing the Central assistance to the State of Tamil Nadu for the cyclonic storm Vardha during December, 2016. This amount has been approved by the HLC on the basis of the report of the Inter-Ministerial Central Team sent by the Central Government to assess the damage.These releases are over and above the releases made to States as devolution of 42% of Central Taxes as per the recommendation of the 14th Finance Commission. For the year 2016-17, a sum of Rs.6.08 lakh crore has been released to all States as devolution of Central Taxes. Tamil Nadu has received Rs.24,538 crore and Karnataka has received Rs.28,750 crore under devolution formula during 2016-17.During 2016-17, the Central Government has also provided Rs.48,869 crore to all the States as grant for Rural and Urban Local Bodies to primarily meet the requirement of basic necessities for people living in these areas.For the benefit of farmers, Rs.13,240 crore has been provided under Pradhan Mantri Fasal Beema Yojana (PMFBY) in 2016-17.Also, Rs.2,45,435 crore has been provided under the Centrally Sponsored Schemes (CSS) for transfer to the States from the Central Government during 2016-17. This includes Rs.47,499 crore for Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) which is used for employment generation and water conservation works.

In view of onset of the summer season, the Prime Minister Shri Narendra Modi has instructed that in the next three months, all the States should focus on water conservation related works by utilizing the funds available under various Schemes such as Pradhan Mantri Krishi Sinchai Yojana (PMKSY) and MGNREGS etc.

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Mahindra CIE Automotive to hold AGM
Apr 03,2017

Mahindra CIE Automotive announced that the th Annual General Meeting(AGM) of the company on 27 April 2017.

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Sumeet Industries to hold EGM
Apr 03,2017

Sumeet Industries announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 29 April 2017 .

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Board of Sandur Manganese & Iron Ores recommends dividend
Apr 03,2017

Sandur Manganese & Iron Ores announced that the Board of Directors of the Company at its meeting held on 31 March 2017, inter alia, have recommended the dividend of Rs 1 per equity Share (i.e. 10%) , subject to the approval of the shareholders.

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Fag Bearings India to hold board meeting
Apr 03,2017

Fag Bearings India will hold a meeting of the Board of Directors of the Company on 21 April 2017 Unaudited Financial Results would be considered.

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Agro Tech Foods to hold board meeting
Apr 03,2017

Agro Tech Foods will hold a meeting of the Board of Directors of the Company on 3 May 2017 Audited Financial Results of the company & Dividend

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Godawari Power & Ispat provides financial update
Apr 03,2017

Godawari Power & Ispat announced that the majority of lenders of the Company have approved restructuring of existing debt facilities i.e. rupee term loans, External Commercial Borrowing, Non-Convertible Debentures (NCD), working capital loans under Corrective Action Plan as per RBI Circular and the Company has executed Master Restructuring Agreement and other necessary security documents, in favor of the lenders. The cut-off date for restructuring of debt was 1 June 2016 with moratorium period of 9 months i.e. 28 February 2017.

By this Restructuring Scheme the repayment schedules of the loans have been elongated up-to March, 2032, to be repaid in structured monthly instalments. There is no additional borrowing proposed under Restructuring Scheme.

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L&T Technology Services conferred with Golden Peacock National Quality Award 2017
Apr 03,2017

L&T Technology Services announced that it has been awarded the Golden Peacock National Quality Award, 2017, as a recognition of the companys consistent focus in enabling cutting edge technologies for global businesses.

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Escorts announces tractor sales
Apr 03,2017

Escorts Agri Machinery Segment (EAM) in March 2017 sold 7,079 tractors growth of 31% against 5,403 tractors in March 2016. Domestic tractor sales for the month of March 2017 up by 31.7% at 7,014 tractors against 5,403 tractors in March 2016. Export for the month of March 2017 stood at 65 tractors against 76 tractors in March 2016.

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Shares of Octaware Technologies get listed
Apr 03,2017

The equity shares of Octaware Technologies (Scrip Code: 540416) are listed effective 03 April 2017 and admitted to dealings on the Exchange in the list of M Group Securities

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SML Isuzu advances after robust monthly sales
Apr 03,2017

The announcement was made on Sunday, 1 April 2017.

Meanwhile, the S&P BSE Sensex was up 86.97 points or 0.29% at 29,707.61

On the BSE, 6,409 shares were traded on the counter so far as against the average daily volumes of 5,903 shares in the past one quarter. The stock had hit a high of Rs 1,358 and a low of Rs 1,316 so far during the day. The stock had hit a 52-week high of Rs 1,433.85 on 31 August 2016 and a 52-week low of Rs 769.90 on 1 April 2016.

The small-cap company has equity capital of Rs 14.47 crore. Face value per share is Rs 10.

SML Isuzu reported net profit of Rs 3.15 crore in Q3 December 2016 compared with net loss of Rs 0.93 crore in Q3 December 2015. Net sales rose 18.3% to Rs 228.12 crore in Q3 December 2016 over Q3 December 2015.

SML Isuzu is a commercial vehicle manufacturer. Sumitomo Corporation, Japan and Isuzu Motors, Japan respectively held 43.96% and 15% stake in SML Isuzu (as per the shareholding pattern as on 31 December 2016).

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Dilip Buildcon receives provisional completion certificate for road project in Madhya Pradesh
Apr 03,2017

Dilip Buildcon has received the Provisional Completion Certificate as declaration of Commercial Operation Date (COD), 100 days prior to the Scheduled Completion Date for the Project of Rehabilitation and Up-gradation of existing road to 2 lane with Paved Shoulder as Cement Concrete Pavement configuration Katni-Shahdol-Anuppur to MP/Chhattisgarh Border (NH-78), from existing Km. 142/200 to 245/0 Design Length 91.800 km in the state of Madhya Pradesh on Engineering, Procurement and Construction (EPC) basis.

The Project (details of which are provided herein below) has been declared fit for entry into commercial operations w.e.f. 17 February, 2017 and the Company is entitled to a maximum amount of bonus of Rs.10.20 crore in lieu of earlier completion of the said Project.

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Mizoram becomes 27th State to join UDAY
Apr 03,2017

The Government of India and the State of Mizoram signed a Memorandum of Understanding (MOU) under the scheme Ujwal DISCOM Assurance Yojana (UDAY) for operational improvement of the States Power Distribution Department. With the signing of MoU by Mizoram, the total States/ Union territories covered under UDAY will be 27. Mizoram would derive an overall net benefit of approximately Rs.198 crores by opting to participate in UDAY, by way of cheaper funds, reduction in AT&C and transmission losses, interventions in energy efficiency, etc. during the period of turnaround.

The MoU paves way for improving operational efficiency of the Power Distribution department of the State. Through compulsory Distribution Transformer metering, consumer indexing & GIS mapping of losses, upgrade/change transformers, meters etc., smart metering of high-end consumers, feeder audit etc. AT&C losses and transmission losses would be brought down, besides eliminating the gap between cost of supply of power and realisation. The reduction in AT&C losses and transmission losses to 15% and 2.50% respectively is likely to bring additional revenue of around Rs.166 crores during the period of turnaround.

Demand Side interventions in UDAY such as usage of energy-efficient LED bulbs, agricultural pumps, fans & air-conditioners and efficient industrial equipment through PAT (Perform, Achieve, Trade) would help in reducing peak load, flatten load curve and thus help in reducing energy consumption in the State of Mizoram. The gain is expected to be around Rs.30 crores.

While efforts will be made by the Power Distribution Department of the State to improve their operational efficiency, and thereby reduce the cost of supply of power, the Central government would also provide incentives to the State Government for improving Power infrastructure in the State and for further lowering the cost of power. The Central schemes such as DDUGJY, IPDS, Power Sector Development Fund or such other schemes of MOP and MNRE are already providing funds for improving Power Infrastructure in the State and additional/priority funding would be considered under these schemes, if the State/DISCOMs meet the operational milestones outlined in the scheme. Further, with improved efficiency, the State Power department would be in a better position to borrow funds at cheaper rates for Power infrastructure development/improvement in the State.

The ultimate benefit of signing the MOU would go to the people of Mizoram. Reduced levels of transmission and AT&C losses would mean lesser cost per unit of electricity to consumers. Further, financially and operationally healthy State Power Distribution department would be in a position to supply more power. Higher demand for power would mean higher PLF of Generating units and therefore, lesser cost per unit of electricity which would again mean lesser cost per unit of electricity to the consumers. The scheme would also allow speedy availability of cheaper power to 22,007 households in the State that are still without electricity. Availability of 24*7 power to hitherto unconnected villages/households etc. would boost the economy, provide more employment opportunities for the people of the State and thereby, improve the standard of living of the people of the State.

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Maruti accelerates after declaring good sales in March
Apr 03,2017

The announcement was made on Saturday, 1 April 2017.

Meanwhile, the S&P BSE Sensex was up 127.47 points or 0.43% at 29,747.97

On the BSE, 1,872 shares were traded on the counter so far as against the average daily volumes of 65,528 shares in the past one quarter. The stock had hit a high of Rs 6,088 and a low of Rs 6,032.55 so far during the day. The stock had hit a record high of Rs 6,230.30 on 8 February 2017 and a 52-week low of Rs 3,418.80 on 8 April 2016.

The large-cap company has equity capital of Rs 151.04 crore. Face value per share is Rs 5.

Maruti Suzuki Indias total domestic sales rose 7.7% to 1.27 lakh units in March 2017 over March 2016. Exports grew by 12.6% to 11,764 units in March 2017 over March 2016.

Maruti Suzuki Indias net profit rose 47.46% to Rs 1744.50 crore on 12.44% growth in net sales to Rs 16623.60 crore in Q3 December 2016 over Q3 December 2015.

Maruti Suzuki India is Indias biggest car maker in terms of market share. Japanese parent Suzuki Motor Corporation currently holds 56.21% stake in Maruti Suzuki India (as per the shareholding pattern as on 31 December 2016).

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Record Capacity Addition of Wind Power of 5400MW in Last Fiscal
Apr 03,2017

Ministry of New and Renewable Energy (MNRE) has set another record in the wind power capacity addition by adding over 5400 MW in 2016-17 against the target of 4000 MW. This years achievement surpassed the previous higher capacity addition of 3.423 MW achieved in the previous year.

The leading States in the wind power capacity addition during 2016-17 are Andhra Pradesh 2190 MW, followed by Gujarat 1275 MW and Karnataka 882 MW. In addition Madhya Pradesh, Rajasthan, Tamil Nadu, Maharashtra ,Telangana and Kerala have reported 357 MW, 288 MW, 262 MW, 118 MW , 23 MW and 8 MW wind power capacity addition respectively during 2016-17. These figures are tentative.

During 2016-17 MNRE has taken various policy initiatives in the wind energy sector that includes Introduction of Bidding in Wind Energy Sector, Re -powering Policy, Draft Wind-Solar Hybrid Policy, New Guidelines for Development of Wind Power Projects, etc.

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