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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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IndusInd Bank opens new branch in Faridabad
Mar 21,2017

IndusInd Bank inaugurated a new branch in Faridabad, which is a major industrial hub in the State of Haryana. The new branch is located at SCF-59 & 60, Sector-15, Urban Estate, Faridabad, Haryana. With the inauguration of this branch, the bank now has four branches in Faridabad.

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Smartlink Network declines on profit booking
Mar 21,2017

Meanwhile, the S&P Sensex was down 9.17 points, 0.03% at 29,509.57. The S&P Small-cap index was down 19.49 points or 0.14% at 14,035.50.

On the BSE, 13,000 shares were traded on the counter so far as against the average daily volumes of 23,142 shares in the past one quarter. The stock had hit a high of Rs 104.65 and a low of Rs 100.50 so far during the day.

The stock had hit a 52-week high of Rs 123.40 on 12 December 2016 and a 52-week low of Rs 76 on 15 November 2016. The stock had outperformed the market over the past one month till 20 March 2017, advancing 9.34% compared with the Sensexs 2.99% rise. The scrip had, however, underperformed the market over the past one quarter declining 2.89% as against the Sensexs 12.2% rise.

The small-cap company has equity capital of Rs 4.51 crore. Face value per share is Rs 2.

Shares of Smartlink Network had jumped 11.15% to settle at Rs 104.20 yesterday, 20 March 2017, triggered by the companys board approving the final application for categorizing the company as a non-banking financial company (NBFC) to be made to the Reserve Bank of India (RBI).

The companys business currently consists mainly of income from investments activities pursuant to transfer of Digisol brand business to Digisol Systems and manufacturing business to Synegra EMS, (wholly owned subsidiaries of the company) respectively. The announcement was made on Friday, 17 march 2017.

Meanwhile, the company on that day had also said that its board has considered and approved the acquisition of Rs 1 crore equity shares aggregating up to Rs 10 crore issued by Digisol Systems, a wholly owned subsidiary of the company in one or more tranches.

Smartlink Network Systems net profit surged 403.6% to Rs 1.41 crore on 58.2% decline in net sales to Rs 3.05 crore in Q3 December 2016 over Q3 December 2015.

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Avenue Supermarts sees strong debut
Mar 21,2017

The stock debuted at Rs 604.40, a premium of 102.14% to the initial public offer (IPO) price. So far the stock hit a high of Rs 615 and low of Rs 558.75. On BSE, so far 68.20 lakh shares were traded on the counter.

The issue price was fixed at Rs 299 per share, the top end of the IPO price band of Rs 295 to Rs 299 per share. The IPO of Avenue Supermarts closed with strong response from investors. The IPO received bids for 464.08 crore shares compared with 4.43 crore shares on offer. The IPO was subscribed 104.59 times. The issue opened for bidding on 8 March 2017 and closed on 10 March 2017.

The qualified institutional buyers (QIBs) category was subscribed 144.62 times. The non institutional investors category, made up of high net-worth individuals, was subscribed 277.74 times. The retail individual investors (RIIs) category was subscribed 7.51 times.

The issue comprised fresh issue of shares of Rs 1870 crore. The company set a price band of Rs 295 to Rs 299 per share for the IPO. Avenue Supermarts raised Rs 560.99 crore by selling 1.87 crore shares to a total of 35 anchor investors ahead of the opening of the companys IPO. The shares were allotted to the anchor investors at Rs 299 per share, the top end of the IPO price band.

Avenue Supermarts is an emerging national supermarket chain. The companys stores operate under the D-Mart brand, registered as a trademark under various classes of products. The company offers a wide range of products with a focus on the Foods, Non- Foods (FMCG) and General Merchandise & Apparel product categories. According to Technopak, in FY 2016, the company was one of the largest and the most profitable F&G retailers in India.

The company proposes to utilize the IPO proceeds repayment or prepayment of a portion of loans, construction and purchase of fit outs for new stores and for general corporate purposes.

On a consolidated basis, Avenue Supermarts reported net profit of Rs 387.74 crore on net sales of Rs 8784 crore in nine-months ended December 2016.

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Government Aims To Make India A Global Biotech Hub By 2020
Mar 21,2017

The Minister of State for Science and Technology & Earth Sciences, Mr. Y. S. Chowdary, has said that biotechnology will be the leader among the knowledge based industries of the 21st century. He said producing affordable products will be major issue for India. He called for efforts to set up a proper ecosystem with sustainable systems, particularly in hubs of rural India.

Mr. Y. S. Chowdary, further said that - n++Research and innovation has been one of the key areas emphasized by the Prime Minister. Globally, BIRAC has been hailed as one of the most effective government measures to create an enabling environment for research and development to flourish in a country. We aim to develop India into a global innovation hub by 2020 and Biotechnology Industry Research Assistance Council (BIRAC) has paved the way to deliver on that mandate.n++

BIRAC is a not-for-profit public sector enterprise, set up by the Department of Biotechnology (DBT), Government of India which acts as an interface agency to support emerging biotech enterprises to undertake strategic research and innovation, to address nationally relevant product development needs. Through the course of five years, BIRAC has supported over 618 projects, 850 start-ups, entrepreneurs, biotech companies and organizations and 20 incubators across the country, resulting in over 66 products and technologies and 120 Intellectual property rights being generated.

BIRAC supports entrepreneurs and start-ups at different stages of innovation - from the ideation stage to managing intellectual property rights and finally to the commercialization of products. Different initiatives of BIRAC target different stages of the innovation ecosystem from ideation stages to proof-of-concept and late stage validation to product development. BIRAC has 9 flagship schemes that are supported by funding from the Department of Biotechnology, and manages 7 collaboratively funded programs with international partners, such as the Bill & Melinda Gates Foundation, Nesta, the Wellcome Trust and USAID, among others. Social Innovation is a key focus for affordable and accessible product development.

Dr. K. Vijay Raghavan, Secretary, Department of Biotechnology and Chairman, BIRAC said that Innovation and research must be directed toward addressing the most pressing problems of society. Were proud that BIRAC and the Department of Biotechnology are spearheading this effort in the biotechnology domain. Since its inception in 2012, BIRAC has created nearly two dozen incubators across the country and supported over 350 start-ups. We firmly believe that social entrepreneurship is the key to creating an inclusive society and our government is committed to providing all the necessary support.

The science and technology sector will play a key role in the governments Start-Up India Action Plan. The DBT, in line with the Start-Up India Action Plan has undertaken a number of initiatives centered on the three pillars of an ideal innovation ecosystem - funding, mentoring and capacity building, and the infrastructure to translate scientific research into commercial products. To this end, BIRAC implements its mandate through a wide range of high impact initiatives, providing access to risk capital through targeted funding, facilitating technology transfer, and supporting intellectual property management and handholding schemes for biotech firms to make them globally competitive.

Dr. Renu Swarup, Senior Adviser, Department of Biotechnology and Managing Director, BIRAC said that through initiatives such as Start-Up India and the Science and Technology for Harnessing Innovations or SATHI, the government is ushering in supportive policies and removing regulatory barriers to create an atmosphere of innovation and entrepreneurship in the country. The world as a whole stands to gain with Indian innovators stepping up and changing the way we address the grand challenges we face today. We are proud that BIRAC has created an enabling environment for the biotechnology industry to prosper.

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Divis Labs slumps after USFDA issues import alert on Vizag unit
Mar 21,2017

The announcement was made before trading hours today, 21 March 2017.

Meanwhile, the S&P BSE Sensex was down 8.10 points, or 0.03% to 29,510.64.

On the BSE, 13.02 lakh shares were traded in the counter so far, compared with average daily volumes of 3 lakh shares in the past one quarter. The stock had hit a high of Rs 711.65 so far during the day. The stock had hit a low of Rs 635 so far during the day, which is also a 52-week low for the counter. The stock hit a 52-week high of Rs 1,380 on 16 September 2016.

The stock had outperformed the market over the past one month till 20 March 2017, rising 5.71% compared with 3.69% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 30.70% as against Sensexs 12.20% rise.

The large-cap company has equity capital of Rs 53.09 crore. Face value per share is Rs 2.

Divis Laboratories announced that the United States Food and Drug Administration (USFDA) has issued an Import Alert 66-40 on 20 March 2017 on the products manufactured at the companys Unit-II at Visakhapatnam, Andhra Pradesh. The agency has exempted the 10 products namely Levetiracetam, Gabapentin, Lamotrigine, Capecitabine, Naproxen Sodium, Raltegravir potassium, Atovaquone, Chloropurine , BOC core succinate and 2, 4-wing active ester, from the import alert, it added.

Divis Laboratories said the company, along with third party consultants, is currently working to address the concerns of the USFDA and is making all efforts to fully meet the compliance requirements.

Divis Laboratories net profit rose 8.7% to Rs 268.32 crore on 13.4% increase in net sales to Rs 973.44 crore in Q3 December 2016 over Q3 December 2015.

Divis Laboratories is primarily engaged in the manufacture of active pharmaceutical ingredients (APIs) & intermediates for generics; custom synthesis of APIs and advanced intermediates for discovery compounds for pharma giants; building blocks for peptides; building blocks for nucleotides; carotenoids; and chiral ligands.

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Greenply Inds moves higher as SBI MF purchases bulk shares
Mar 21,2017

Meanwhile, the S&P Sensex was up 10.18 points or 0.03% at 29,528.92. The BSE Mid-Cap index was down 33.70 points or 0.24% at 13,883.09.

On the BSE, 2,067 shares were traded on the counter so far as against the average daily volumes of 73,955 shares in the past one quarter. The stock had hit a high of Rs 283.50 and a low of Rs 276.10 so far during the day.

The stock had hit a record high of Rs 309 on 6 March 2017 and a 52-week low of Rs 173 on 4 April 2016. The stock had underperformed the market over the past one month till 20 March 2017, sliding 8.12% compared with the Sensexs 2.99% rise. The scrip had also underperformed the market over the past one quarter, rising 8.93% as against the Sensexs 12.2% rise.

The mid-cap company has equity capital of Rs 12.26 crore. Face value per share is Rs 1.

Trade Combines sold 38 lakh shares of Greenply Industries at Rs 275.03 per share in a bulk deal on the BSE on 20 March 2017. SBI Mutual Fund A/C Magnum Midcap Fund Scheme Ninety One bought 28.42 lakh shares at Rs 275 per share.

SBI FMCG Fund owned 4.75% stake in Greenply Industries end December 2016.

Greenply Industries net profit fell 31.8% to Rs 24 crore on 14% decline in net sales to Rs 358.78 crore in Q3 December 2016 over Q3 December 2015.

Greenply Industries is into manufacturing and marketing of a wide range of interior infrastructure products.

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n++Kahin Bhi-Kabhi Bhin++ medical services launched for ESIC beneficiaries of Delhi/Noida on pilot basis
Mar 21,2017

Employees State Insurance Corporation (ESIC) has launched the n++Kahin Bhi-Kabhi Bhin++ medical services for ESIC beneficiaries of Delhi/Noida on a pilot basis w.e.f 1st November, 2016. Under this scheme Insured Persons (IPs) and their families may seek primary medical care services including consultation and medicines, for common/routine ailments from any of the ESI dispensary in Delhi/Noida Also patient may be referred from any ESIC dispensary to any ESIC Hospitals in Delhi/Noida for secondary care.

ESI Corporation intends to extend such medical services in other parts of the country depending on the outcome of above pilot project.

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Board of Stampede Capital approves change in directorate
Mar 21,2017

Stampede Capital announced that the Board of Directors of the Company at their meeting held on 20 March 2017 approved the following -

Accepted the resignation of M V Laxmi, and appointed Chukka Lakshmi Woman Director of the Company with effect from 20 March 2017.

Approved the Postal Ballot Notice for the following resolutions -

a. Issue of Convertible Share Warrants to Non-Promoter(s)/Non-Promoter Group of the Company on preferential basis;
b. Issue of Equity Shares and/or Other Securities
c. Investments in any Body Corporate including Subsidiaries
d. Increase in Authorized Share Capital
e. Amendment of Capital Clause of the MoA
f. To sell lease or otherwise dispose of the assets of the Subsidiary Company
g. Issue of ESOP Shares/Sweat Equity to the Key Managerial Persons by Stampede Tradex, Singapore
h. Authorization and approval for Conversion of Unsecured Loan of Usha Rani Meenavalli, Promoter into Equity Shares of the Company;
i. Re-classification of K. Bhaskar Reddy from Promoter to Public Group.

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Board of Stampede Capital approves change in directorate
Mar 21,2017

Stampede Capital announced that the Board of Directors of the Company at their meeting held on 20 March 2017 approved the following -

Accepted the resignation of M V Laxmi, and appointed Chukka Lakshmi Woman Director of the Company with effect from 20 March 2017.

Approved the Postal Ballot Notice for the following resolutions -

a. Issue of Convertible Share Warrants to Non-Promoter(s)/Non-Promoter Group of the Company on preferential basis;
b. Issue of Equity Shares and/or Other Securities
c. Investments in any Body Corporate including Subsidiaries
d. Increase in Authorized Share Capital
e. Amendment of Capital Clause of the MoA
f. To sell lease or otherwise dispose of the assets of the Subsidiary Company
g. Issue of ESOP Shares/Sweat Equity to the Key Managerial Persons by Stampede Tradex, Singapore
h. Authorization and approval for Conversion of Unsecured Loan of Usha Rani Meenavalli, Promoter into Equity Shares of the Company;
i. Re-classification of K. Bhaskar Reddy from Promoter to Public Group.

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NLC India to pay interim dividend for FY 2017
Mar 21,2017

NLC India will pay interim dividend for FY 2017 on or before 31 March 2017.

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Board of Engineers India approves buyback of shares for an aggregate Rs 658.80 crore
Mar 21,2017

The Board of Directors of Engineers India at their meeting held on 20 March 2017 has approved the following -

Approved the alteration of Article of Association to empower the Company to buyback its shares.

Approved the proposal to buyback not exceeding 4,19,61,780 equity shares of the Company (representing 6.23% of the total number of shares in the paid up share capital of the Company) at a price of Rs 157 per share payable in cash for an aggregate consideration not exceeding Rs 658.80 crore.

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Satra Properties (India) provides update on subsidiary - Satra Property Developers
Mar 21,2017

Satra Properties (India) announced that Satra Property Developers, Wholly Owned Subsidiary of the Company has divested its 49% stake in Satra Realty and Builders, its Wholly Owned Subsidiary.

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Shares of Avenue Supermarts get listed
Mar 21,2017

The equity shares of Avenue Supermarts (Scrip Code: 540376) are listed effective 21 March 2017 and admitted to dealings on the Exchange in the list of B Group Securities.

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HCL Tech inches up as board approves share buyback
Mar 21,2017

The announcement was made after market hours yesterday, 20 March 2017.

Meanwhile, the S&P Sensex was up 23.31 points or 0.08% at 29,542.05.

On the BSE, 56,000 shares were traded on the counter so far as against the average daily volumes of 84,433 shares in the past one quarter. The stock had hit a high of Rs 874.60 and a low of Rs 864 so far during the day.

The stock had hit a 52-week high of Rs 879.15 on 20 March 2017 and a 52-week low of Rs 706.50 on 11 May 2016. The stock had underperformed the market over the past one month till 20 March 2017, advancing 2.57% compared with the Sensexs 2.99% rise. The scrip had also underperformed the market over the past one quarter, rising 4.14% as against the Sensexs 12.2% rise.

The large-cap company has equity capital of Rs 282.24 crore. Face value per share is Rs 2.

HCL Technologies board at its meeting held yesterday, 20 March 2017, approved buyback of up to 3.50 crore fully paid-up equity shares of the company at Rs 1000 per share, for an aggregate amount not exceeding Rs 3500 crore.

The buyback price of Rs 1000 is at a premium of 15.83% to the stocks closing price of Rs 863.30 yesterday, 20 March 2017.

The buyback is proposed to be made from the shareholders of the company on a proportionate basis, through the tender offer route. The announcement was made after market hours yesterday, 20 March 2017.

Separately, HCL Technologies said that it has been chosen as the strategic IT services provider to the Volvo Ocean Race. HCL will be responsible for developing and delivering IT solutions for the 2017-18 edition of the race around the world. The Volvo Ocean Race held every three years witnesses the coming together of the best sailors across the world. The announcement was made after market hours yesterday, 20 March 2017.

HCL Technologies consolidated net profit rose 2.3% to Rs 2062.04 crore on 2.56% growth in net sales to Rs 11814.20 crore in Q3 December 2016 over Q2 September 2016.

HCL Technologies is a leading global IT services company working with clients in the areas that impact and redefine the core of their businesses.

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Shares of IFL Enterprises get listed
Mar 21,2017

The equity shares of IFL Enterprises (Scrip Code: 540377) are listed and admitted to dealings on the Exchange in the list of M Group Securities.

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