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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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Solar Industries India revises record date for interim dividend
Feb 08,2017

Solar Industries India has revised the record date to 22 February 2017 for the purpose of payment of Interim Dividend (if declared) for the Financial Year 2016-17.

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AIA Engineering fixes record date for interim dividend
Feb 08,2017

AIA Engineering has fixed 22 February 2017 as the Record Date for the purpose of Payment of Interim Dividend, if declared.

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IDBI Bank announces appointment of director
Feb 08,2017

IDBI Bank announced that Govt. of India, Ministry of Finance, Department of Financial Services has, vide their Notification dated 07 February 2017, appointed Praveen Garg, Joint Secretary, Department of Economic Affairs, Ministry of Finance, Govt. of India as Government Nominee Director on the Board of IDBI Bank in terms of Article 116(1)(c) of the Articles of Association w.e.f. 07 February 2017 and until further orders. Praveen Garg is not related to any other Director on the Board of the Bank.

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Tata Steel shines after turnaround Q3 result
Feb 08,2017

The result was announced after market hours yesterday, 7 February 2017.

Meanwhile, the S&P BSE Sensex was down 42.65 points, or 0.15%, to 28,292.51

On the BSE, so far 9.65 lakh shares were traded in the counter, compared with average daily volumes of 7.30 lakh shares in the past one quarter. The stock hit a high of Rs 487 in intraday trade so far, which is 52-week high for the counter. The stock had hit a low of Rs 474.60 so far during the day. The stock hit a 52-week low of Rs 211.30 on 12 February 2016.

The large-cap company has equity capital of Rs 971.22 crore. Face value per share is Rs 10.

Tata Steels total income rose 13.64% to Rs 28143.51 crore in Q3 December 2016 over Q3 December 2015.

Tata Steels consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) surged 321.62% to Rs 3550 crore in Q3 December 2016 over Q3 December 2015.

T V Narendran, Managing Director, Tata Steel India and South East Asia, said that while the broader market was affected by lower rural sales and adverse consumer sentiments, the company was able to increase overall volumes and register strong growth across all target customer segments. Further, focus on cost improvement initiatives and integrated operations helped in containing the impact of rising raw material prices, T V Narendran said.

Tata Steel Group stands among the top global steel companies with an annual crude steel capacity of 28 million tonnes per annum (MnTPA) and a turnover of $17.69 billion in the year ended 31 March 2016. It is the worlds second-most geographically-diversified steel producer, with operations in 26 countries and commercial presence in over 50 countries.

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Shreyas Shipping & Logistics signs MoU for acquisition of a container vessel
Feb 08,2017

Shreyas Shipping & Logistics has signed a Memorandum of Understanding (MOU) for acquisition of one container vessel of 2500 teus. The delivery of the vessel is expected towards end of February, 2017.

With this acquisition, the Company will own a fleet of 10 vessels. The new vessel shall be deployed on the Indian coast.

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Board of Gateway Distriparks appoints Joint Managing Director
Feb 08,2017

Gateway Distriparks announced that the Board of Directors of the Company at its meeting held on 08 February 2017, inter alia, Ishaan Gupta, Director has been appointed as Joint Managing Director of the Company for a period of five years with effect from 08 February 2017, subject to the approval of the shareholders of the Company.

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Shri Piyush Goyal to launch TAMRA Portal and Mobile Application to ensure transparent award of Statutory Clearances for Mining Operations
Feb 08,2017

With an objective to enhance transparency and accountability as a part of the Ease of Doing Business in the Mining sector, Union Minister of State (IC) for Power, Coal, New & Renewable Energy and Mines, Shri Piyush Goyal will launch TAMRA (Transparency, Auction Monitoring and Resource Augmentation) portal and Mobile Application here on 10th February, 2017. Ministers of Mining and senior officers from 12 mineral rich States would also be connected through videoconferencing.

In context of Prime Minister , Shri Narendra Modis Ease of Doing Business initiative, which advocates facilitating overall business activity in India, the Ministry of Mines has developed the TAMRA Portal and Mobile Application which is a step to speed up mining activity in India and facilitate all the stakeholders to track the status of the statutory clearances associated with mining blocks for getting mines to reach till operationalisation for the same. TAMRA will be an interactive platform for all the stakeholders to compress the timelines for statutory and other clearances as it would help minimize the gestation period for commencing production.

Further, TAMRA covers block-wise, state-wise and mineral-wise information of the blocks to be auctioned, monitors various statutory clearances, and also highlights the additional resources generated through e-Auction. In case of delay in obtaining any clearances, TAMRA will send triggers to the concerned authority so that the remedial steps can be taken immediately by those responsible. The Ministry of Mines will also receive triggers generated by TAMRA and will facilitate in expediting clearances. This portal also enables successful bidder to give suggestions/inputs.

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Power Grid Corporation of India announces change in directorate
Feb 08,2017

Power Grid Corporation of India announced that Prabhakar Singh, Executive Director, POWERGRID has assumed the charge of Director (Projects), POWERGRID on 08 February 2017, in terms of GOI order dt. 07 February 2017 for a period of five years with effect from the date of his assumption of charge of the post on or till date of his superannuation, or until further orders, whichever is the earliest.

Further, R. P. Sasmal, Director (Operations) demitted the additional charge of Director (Projects) in terms of GOI order dt. 05 December 2016.

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Volumes jump at Gujarat Fluorochemicals counter
Feb 08,2017

Gujarat Fluorochemicals clocked volume of 5.10 lakh shares by 13:54 IST on BSE, a 84.39-times surge over two-week average daily volume of 6000 shares. The stock fell 0.41% to Rs 473.20.

Indiabulls Housing Finance notched up volume of 3.75 crore shares, a 75.89-fold surge over two-week average daily volume of 4.95 lakh shares. The stock rose 1.49% to Rs 840.40.

Vaibhav Global saw volume of 1.41 lakh shares, a 52.08-fold surge over two-week average daily volume of 3,000 shares. The stock rose 18.90% to Rs 389.05.

Claris Lifesciences clocked volume of 11.36 lakh shares, a 16.36-fold surge over two-week average daily volume of 69,000 shares. The stock rose 3.54% to Rs 322.10.

Kopran saw volume of 19.43 lakh shares, a 14.93-fold rise over two-week average daily volume of 1.30 lakh shares. The stock rose 15.04% to Rs 71.50.

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Firstsource Solutions leads gainers in A group
Feb 08,2017

Firstsource Solutions jumped 7.89% to Rs 46.50 at 13:41 IST. The stock topped the gainers in the BSEs A group. On the BSE, 27.86 lakh shares were traded on the counter so far as against the average daily volumes of 7.29 lakh shares in the past two weeks.

Titan Company surged 7.46% to Rs 422.75. The stock was the second biggest gainer in A group. On the BSE, 7.97 lakh shares were traded on the counter so far as against the average daily volumes of 73,000 shares in the past two weeks.

Jaiprakash Associates gained 4.75% at Rs 13.67. The stock was the third biggest gainer in A group. On the BSE, 51.99 lakh shares were traded on the counter so far as against the average daily volumes of 1.04 crore shares in the past two weeks.

Mcleod Russel India advanced 4.9% at Rs 167.95. The stock was the fourth biggest gainer in A group. On the BSE, 2.39 lakh shares were traded on the counter so far as against the average daily volumes of 1.4 lakh shares in the past two weeks.

Engineers India rose 4.25% to Rs 157. The stock was the fifth biggest gainer in A group. On the BSE, 7.68 lakh shares were traded on the counter so far as against the average daily volumes of 2.46 lakh shares in the past two weeks.

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Vodafone India - Idea Merger to Improve Industry Dynamics; Near Term Headwinds Persist
Feb 08,2017

The proposed merger of Vodafone India and Idea Cellular Ltd (Idea) will be credit positive for the telecom industry by eliminating duplication of spectrum and infrastructure capex, says India Ratings and Research (India Ratings). However in the near term India Ratings believes that the intense competition from Reliance Jios freebees will continue to pressurise telecom companies (telcos) financials. The sector is capital intensive with multi-players operating, and thus the merger will be favourable for both operators and subscribers, resulting in better pricing discipline in the long term. India Ratings estimates the return on capital employed will improve for the industry by around 300bp over FY17-FY19 (FY16: 8.4%) while the total capital deployed will increase 90% by FY19 over FY16.

The combined entity will be much larger in size, with a subscriber base of over 380 million (37% market share) compared to Bharti Airtel Limiteds (Bharti) 262 million subscribers. The combined entities revenue market share will be around 40%, while Bhartis stands at 30%. The merger will complement the circle presence of both the entities - Idea has strong presence in rural areas and Vodafone India in urban areas. It will also improve the competitiveness of the resultant entity compared to other telecom leaders in around 60% of circles (based on subscriber market share) where the merged entity will become a leading operator as it can offer services at better price points due to the operational synergies in those circles.

India Ratings expects the combined entities operating margins to improve by around 300bp, due to cost synergies in networking and selling, general and administrative expenses. The merger will also result in capex synergies, since it will eliminate the duplication of spectrum capacity and infrastructure related requirements. India Ratings notes that the spectrum of Vodafone India (in seven circles) and Idea (in two circles) which are expiring in FY22 are not in common circles, and there could be potential spectrum capex synergies (the cumulative worth of spectrum in these nine circles is over INR120 billion, based on the latest auction prices in those circles). The combined entities revenues will be around INR775 billion-INR800 billion and EBITDA margins of around 28%.

India Ratings notes that the merger, in case it materialises, will also require regulatory clearances, including the ones related to spectrum holding share, subscriber market share and revenue market share in some of the circles where the combined holding will cross the prescribed threshold limits. India Ratings expects the combined entity to breach the spectrum holding limit in five circles under the 900MHz band, one circle under the 1,800MHz band and two circles under the 2,500MHz band with the cumulative worth of around INR90 billion (based on last auctioned prices). The key challenge for the merger will also be operational and management control of the merged entity, along with the outstanding tax matter of Vodafone India.

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Board of Bharat Forge declares interim dividend
Feb 08,2017

Bharat Forge announced that the Board of Directors, at its meeting held on 08 February 2017 has declared an interim dividend Rs. 2.50 per equity share of Rs. 2/- each (125%).

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Export of Oilmeals during January 2017 has jumped more than doubled
Feb 08,2017

The Solvent Extractors Association of India (SEA) has compiled the export data for export of oilmeals for the month of January 2017. The export of oilmeals during January 2017 has jumped more than doubled and reported at 165,980 tons compared to 71,890 tons i.e. up by 131%. The overall export of oilmeals during April 2016 to January 2017 is reported at 1,335,894 tons compared to 1,300,465 tons during the same period of last year.

SEA has revised export data from April16 onward for soybean meal and de-oiled rice bran with update data collected for export by surface transport to neighboring countries.

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Esaar (India) appoints compliance officer
Feb 08,2017

Esaar (India) announced that Nitesh Balaram Pandirkar, Whole Time Director of the Company has been appointed as the compliance officer of the Company.

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Orbit Exports fixes record date for interim dividend and bonus issue
Feb 08,2017

Orbit Exports has fixed record date of 15 February 2017 for the purpose of payment of Interim Dividend for Financial Year 2016-2017 and also for allotment of the Bonus shares in the proportion of 1 (One) Bonus Equity Shares of Rs. 10/- (Rupees Ten only) each for every 1 (One) fully paid - up Equity Shares of Rs. 10/- (Rupees Ten Only).

The Company had earlier fixed the record date of 14 February 2017 for payment of interim dividend.

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