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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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Master Chemicals appoints CFO
Jan 03,2017

Master Chemicals announced that Subash Raju Kanumuri has been appointed as the Chief Financial Officer (CFO) of the Company by the Board of Directors at their meeting held on 12 November 2016 with immediate effect.

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Indiabulls Housing Finance revises home loan rates
Jan 03,2017

Indiabulls Housing Finance has revised home loan rate of 8.65%, a reduction of 45 basis points for its customers, effective 03 January 2017.

The new interest rates for Indiabulls Home Loans will be -

Up to Rs 75 lakhs - 8.65% (for women) & 8.70% (for others)
From Rs 75 lakh to Rs 3 crore - 8.70% (for women) & 8.75% (for others)
Rs 3 crore to Rs 5 crore - 8.80% (for women) & 8.85% (for others)

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Corporation Bank announces MCLR rates
Jan 03,2017

Corporation Bank has fixed tenor based Marginal Cost of Funds Based Lending Rate, for all new loans and advances including renewals with effect from 02 January 2017.

Overnight - 8.35%
One month - 8.35%
Three month - 8.40%
Six month - 8.65%
One year - 8.75%.

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PNC Infratech provides update on subsidiary
Jan 03,2017

PNC Infratech announced that its subsidiary MP Highways has received upgradation in credit ratings for bank facilities from Credit Analysis & Research (CARE).

Long term bank facilities (Rs 215.70 crore) - CARE A- (Revised from CARE BBB+)

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ICICI Bank allots equity shares
Jan 03,2017

ICICI Bank has allotted 131,200 equity shares of face value of Rs. 2/- each on 03 January 2017 under the Employees Stock Option Scheme, 2000 (ESOS).

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ITC announces cessation of director
Jan 03,2017

ITC announced that A. Baijal, in terms of his letter dated 30 December 2016, has ceased to be a Director of the Company with effect from 30 December 2016, consequent to his appointment as Lt. Governor, Delhi.

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Engineers India allots equity shares
Jan 03,2017

Engineers India announced that the Committee of the Board of Directors - Bonus Issue of the Company in its meeting held on 03 January 2017, has approved the issue and allotment of 33,69,36,600 Bonus Equity Shares in the ratio of 1:1 (i.e. 1 (one) new equity bonus share of Rs. 5/- each for every 1 (one) existing fully paid equity share of Rs. 5/- each held) to the existing shareholders of the Company holding shares at the close of business hours on the Record date i.e. 02 January 2017.

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Bank of India revises MCLR rates
Jan 03,2017

Bank of India has revised the Marginal Cost of Funds Based Lending Rate (MCLRs) rates with effect from 07 January 2016 -

Overnight - 8.10%
One month - 8.25%
Three month - 8.30%
Six month - 8.40%
One year - 8.50%

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Equitas Holdings provides update on scheme of amalgamation
Jan 03,2017

Equitas Holdings announced about receipt of Court approval for the Scheme of Amalgamation of Equitas Micro Finance (EMFL) and Equitas Housing Finance (EHFL) with Equitas Finance and receipt of Court approval for dissolution of EMFL and EHFL, respectively. The Company has filed the certified copy of the Order dated 02 December 2016 (Certified Copy of Order received on 22 December 2016) approving dissolution of EMFL and EHFL with Registrar of Companies. Subsequently, the said dissolution was approved and taken on record by the Registrar of Companies on 03 January 2017.

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Oudh Sugar Mills gets upgradation in ratings for bank facilities
Jan 03,2017

Oudh Sugar Mills announced that the Credit Analysis & Research has upgraded & assigned CARE BBB- (Triple B Minus) rating to Long-term Bank facilities from Banks so accepted by the Company.

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LPG customers to now get a discount for on-line payment of LPG refill
Jan 03,2017

Oil Marketing Companies, viz IndianOil, BPCL & HPCL are now offering an upfront discount of Rs 5/- on every LPG refill to all LPG customers who will book and pay for their LPG cylinders online. Customers can make payment through existing online modes i.e net banking, credit & debit cards at the time of web-booking their refills.

Customers will get the discounted amount displayed on their screens - i.e. net amount i.e refill RSP minus (-) incentive amount of Rs.5/- which they need to pay for their refill transactions. The net discounted amount will also be shown on the cash memo accompanying the home-delivery of the LPG cylinder.

Under the aegis of Ministry of Petroleum & Natural Gas, it the endeavour of all Oil Marketing Companies aim to encourage consumers to increasingly shift to such payment modes through digital platforms to achieve the objective of no-cash or less-cash based transactions. The incentive will encourage more and more LPG consumers to go for cashless mode transactions.

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Upper Ganges Sugar & Industries gets upgradation in rating for bank facilities
Jan 03,2017

Upper Ganges Sugar & Industries announced that the Credit Analysis & Research has upgraded & assigned CARE BBB(Triple B) rating to Long-term Bank facilities from Banks so accepted by the Company.

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SEAMEC announces resignation of MD
Jan 03,2017

SEAMEC announced Captain C.J. Rodricks has resigned from the services of the Company as Managing Director. His resignation will take effect from the close of business hours on 31 March 2017.

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Pan-India expansion of Maternity Benefit Programme (MBP) to benefit pregnant and lactating mothers across the country
Jan 03,2017

Government of India is committed to ensure that every woman attains optimal nutritional status especially from the most vulnerable communities as nutrition constitutes the foundation for human development. This is all the more important during the period of pregnancy and lactation coupled with wage loss. A womans nutritional status has important implications for her health as well as the health and development of her children.

An under-nourished mother almost inevitably gives birth to a low birth weight baby. When poor nutrition starts in-utero, it extends throughout the life cycle, particularly in women. Owing to economic and social distress many women continue to work to earn a living for their family right upto the last days of their pregnancy. Furthermore, they resume working soon after childbirth, even through their bodies might not permit it, thus preventing their bodies from fully recovering on one hand, and also impending their ability to exclusively breastfeed their young infant in the first six months.

To address the above issues, Ministry of Women and Child Development, in accordance with the provisions of Section 4(b) of National Food Security Act, formulated a scheme for pregnant and lactating mothers called Maternity Benefit Programme Gô a conditional cash transfer scheme. The Scheme provides cash incentives to pregnant and lactating women (i) for the wage loss so that the woman can take adequate rest before and after delivery; (ii) to improve her health and nutrition during the period of pregnancy and lactation; and (iii) to breastfeed the child during the first six months of the birth, which is very vital for the development of the child.

Under the scheme, all Pregnant Women and Lactating Mothers (PW&LM), excluding the Pregnant Women and Lactating Mothers who are in regular employment with the Central Government or State Governments or Public Sector Undertakings or those who are in receipt of similar benefits under any law for the time being are eligible. The cashincentive of Rs.6,000/- is payable in three instalments for the first two live births at the following stages:

Cash Transfer

Conditions

Amount
(in Rs.)

First instalment

(in first trimester of pregnancy)n++

-+n++n++ Early Registration of Pregnancy, preferably within first three months.
-+n++n++ Received one antenatal check-up.

3,000/-

Second instalment

-+n++n++ At the time of institutional delivery.

1500/-

Third instalment
(3 months after delivery)

-+n++n++ Child birth is registered.
-+n++n++ Child has received BCG vaccination.
-+n++n++ Child has received OPV and DPT-1 & 2.

1,500/-

The cash transfer would be Aadhaar linked through the individual bank/post office account etc. in DBT mode.

Honble Prime Minister of India, Shri Narendra Modi, in his address to the nation on 31.12.2016 has announced pan-India expansion of MBP in all the districts with effect from 01.01.2017. It is expected that annually about 51.70 lakh beneficiaries would avail of the benefit.

Expansion of MBP will have huge impact on the PW&LM as it will not only provide them compensation for the wage loss but will also provide them adequate nutrition and rest before and after delivery. Mothers will have sufficient time to breastfeed the child during first six months of the birth. Resultantly, it is expected that it will reduce mother mortality rate, IMR, under-nutrition and its adverse effects.

It is a Centrally Sponsored Scheme and the cost sharing between Centre and States is 60:40 for all the States and UTs (with legislature), 90:10 for NER and Himalayan States and 100% GoI share for UTs without legislatures. The total cost of the proposal for the balance period of 2016-17 and from 2017-18 to 2019-20 including Centre and State share is expected to be Rs. 12,661.00 crore. Out of this, Government of Indias share for the balance period of 2016-17 (Rs. 584 crore) and from 2017-18 to 2019-20 (Rs. 7348 crore) is expected to be Rs. 7932 crore.

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Sat Industries incorporates subsidiary in UAE - Italica Global FZC
Jan 03,2017

Sat Industries announced that:

1. Company has incorporated an wholly owned subsidiary (WOS) Company namely; Italica Global FZC, a Free Zone Company in Ajman Free Zone, United Arab Emirates and it is likely to commence business very shortly.

2. Companys Subsidiary namely; Sah Polymers, has received a Letter of Intent from Indian Oil Corporation for appointment as DSA cum CS (Direct Selling agent cum Consignment Stockiest) for their polymer business, location at Udaipur, Rajasthan.

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