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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.
OPM %24.969.91-

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Asian Paints provides update on indirect subsidiary Berger International, Singapore
Jun 16,2017

Asian Paints announced that Berger International, Singapore (BIPL), indirect subsidiary company of the Company, has on 16 June 2017 entered into a Share Purchase Agreement with ANSA Coatings International , St. Lucia (ANSA Coatings) for divestment of its entire stake in Lewis Berger (Overseas Holdings), UK (LBOH), wholly owned subsidiary of BIPL, which in turn holds stake in the following companies:

100% stake in Berger Paints Barbados Limited (BPBL), a company incorporated under the laws of Barbados;
51% stake in Berger Paints Jamaica Limited (BPJL), a publicly listed company incorporated under the laws of Jamaica; and
70% stake in Berger Paints Trinidad Limited (BPTL), a publicly listed company incorporated under the laws of Trinidad and Tobago.

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A.K.Capital Services to incorporate step down subsidiary
Jun 16,2017

A.K.Capital Services announced that A.K. Capital Finance, a material subsidiary of the Company proposes to incorporate a new Company to carry on the business of housing finance and matters incidental thereto. The proposed company will be named Family Home Finance. Since the proposed company is a step down subsidiary, the Company will be ultimate holding company of the proposed company.

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Gem & Jewellery Training Institute set up in Udupi, Karnataka, First of its kind in Southern India, aims to boost G&J sector in the region
Jun 16,2017

Commerce and Industry Minister Smt. Nirmala Sitharaman laid the Foundation Stone for a premier Gem & Jewellery Training Institute in Udupi, Karnataka . Indian Institute of Gems & Jewellery (IIGJ) is being set up in association with National Institute of Design (NID), Ahmedabad. This training centre shall be amongst the series of Training Institutes & Facility Centres set up by GJEPC (Gem and Jewellery Export Promotion Council) across India. With IIGJ Udupi , GJEPC forays into Education & Training field in the Southern India for the first time.

Addressing the function Smt. Sitharaman said that Across the Globe, the best of jewellery pieces are majority hand made. Global retail giants like Cartier, Boucheron or Van Cliff command premium prices for their hand made jewellery. She said India, whose forte lies in crafting most intricate handmade jewellery should capitalise on this opportunity by building necessary infrastructure.The Minister said by setting up institutes like IIGJ and other facility centres GJEPC once again has come forward to further equip Indian Gem & Jewellery sector and make it globally competitive. She said she was confident that IIGJ in Udupi will aid in providing exciting career opportunities to youth of surrounding regions in this sector.

Mr. Manoj Dwivedi, Joint secretary said With over 100 retail stores and engaging workforce of over 5000 people, Udupi boasts of a rich jewellery lineage. By setting up IIGJ here, GJEPC envisions to productively use the talent available here by providing required training and guidance.He said GJEPC has joined hands with NID, Ahmedabad to ensure that best of jewellery and manufacturing courses are offered to the enrolled students. He applauded GJEPC for taking this visionary step which would not only skill the youth but also create more job opportunities in Southern India.

Commenting on setting up of Institute, Praveenshankar Pandya, Chairman, GJEPC said that IIGJ in Udupi is one of the ambitious projects taken up by GJEPC to tap the unutilised potential of youth in this region and thereby giving a significant boost to Indian G& J sector. This Institute strongly embodies Honourable Prime Ministers Make in India initiative and much professed emphasis on design & handmade jewellery. It is closely aligned with the vision of Smt. Nirmala Sitharaman, Honourable Commerce & Industry Minister to establish a one of its kind, full-fledged Jewellery Institute at Udupi with strong Design focus. He said this is yet another step towards the pursuit of n++Skill Indian++.

The Institute will provide training to the youth in the region in various aspects of hand-crafted jewellery making, which could eventually lead to employment opportunities in the G & J sector. It will also aim at enhancing the skills of the existing work force already engaged with the industry. Creation and upgradation of such trained work force will in turn help in fostering development of the local jewellery industry.

The Institute will focus on three levels of skills:

1. NEW SKILLING for developing fresh skills in candidates who have no prior domain learning/working knowledge of jewellery

2. UP-SKILLING for upgrading the skills of candidates who have prior domain learning and are already working in the sector.

3. Give a design & technological orientation to the local industry to be competitive in the Indian & world market

Keeping the objectives in mind, the Institute shall offer Manufacturing & CAD designing courses on jewellery. Indian Diamond Institute, based in Surat & IIGJ has been involved on behalf of GJEPC to collaboratively develop the programme curriculum with NID, Indias Premier Design Institution.

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Modex International Securities provides update on subsidiary
Jun 16,2017

Modex International Securities announced that its subsidiary, Modex International Securities IFSC which was incorporated on 21 December 2016 at GIFT City, Gandhinagar Gujarat, has commenced its business of stock broking with effect from 14 June 2017.

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Board of Rishi Techtex approves conversion of warrants
Jun 16,2017

Rishi Techtex announced that the Preferential issue Committee of the Board of Directors of the Company in their meeting held on 16 June 2017 approved issue and allotment of 3,04,000 Equity Shares of Rs.10/- each at a price of Rs.17/- per share against conversion of warrants.

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Board of Zodiac-JRD-MKJ appoints director
Jun 16,2017

The Board of Directors of Zodiac-JRD-MKJ at its meeting held on 16 June 2017 have approved appointment of Mukesh Desai, Jindat Mehta and Hasmukh Thakker as an Independent Non Executive Director with effect from 16 June 2017.

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Outcome of board meeting of Wheels India
Jun 16,2017

Wheels India announced that the Board of Directors of the Company at its meeting held on 16 June 2017 has approved and agreements have been entered into for (a) the slump sale of its passenger car steel wheels business undertaken at Padi, Tamil Nadu and Bawal, Haryana to WIL Car Wheels, its wholly owned subsidiary; and (b) the subsequent investment by Topy Industries, Japan into WCWL pursuant to which Topy shall acquire a 26% stake in WCWL.

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Board of Indsil Hydro Power & Manganese approves scheme of amalgamation
Jun 16,2017

The Board of Directors of Indsil Hydro Power & Manganese at its meeting held on 16 June 2017 has approved the Scheme of Amalgamation of Indsil Energy and Electrochemicals (Transferor Company) with Indsil Hydro Power and Manganese (Transferee Company) (the Company) with effect from 1 April 2017 (Appointed Date) pursuant to Sections 230 to 232 of the Companies Act, 2013 subject to the necessary approval of the National Company Law Tribunal, Chennai Bench and such other authorities as may be required.

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Asia Pacific Market: Stocks end with slight gain
Jun 16,2017

Asia Pacific share market closed slight higher on last trading session of the week, Friday, 16 June2017, as investors chased for bargain buying following previous session losses on capital flows out woes. MSCIs broadest index of Asia-Pacific shares outside Japan closed flat.

The Federal Reserve raised short-term interests on Wednesday, and outlined plans to shrink the U.S. central banks balance sheet, raising concerns about tighter liquidity globally and capital flows out of Asia.

The Bank of Japan, which is seeking to avoid speculation about an early exit from stimulus, held its main policy rate steady at minus 0.1% and stuck to its pledge to keep the yield on 10-year Japanese government bonds around zero.

In commodities, oil was lower on continued worries over rising US gasoline inventories adding to already elevated global supply. US crude fell 0.1% to USD 44.39 a barrel, remaining near Thursdays six-week low, on track for a 3.1% drop for the week. Global benchmark Brent also slipped 0.1% to USD 46.86, set to end the week 2.7% lower.

Gold crept higher following Thursdays 0.6% drop on the dollars strength. It was marginally higher at USD 1,254.25 an ounce early on Friday, but still poised to close the week with a 0.9% loss.

Among Asian bourses

Australia Market gains on banks strength

Australian equity market ended modest higher, buoyed in large part by a rebound by the banks that more than offset the drag of mining stocks. The S&P/ASX 200 finished up 10.8 points, or 0.2%, at 5774.0. The benchmark S&P/ASX 200 grew 1.7% over a holiday-shortened week, taking back the bulk of last weeks slump. For the session, 2.83 billion shares were traded with a value of A$8.09 billion

Shares of Financials were the top gainers, with National Australia Bank leading the major banks higher for the day, rising 0.5%. Westpac Banking edged up 0.1%, Commonwealth Bank of Australia added 0.2% and Australia & New Zealand Banking rose 0.4%. Investment bank and asset manager Macquarie picked up 0.6%.

Energy stocks were mixed on Friday, with Woodside Petroleum losing 0.2% and Santos falling 0.3% but Oil Search gaining 0.7%.

Shares of materials and resources, however, remained pressured by continuing weakness in commodity prices, compounded by a poor outlook. Rio Tinto slipped 0.3% and Fortescue Metals Group lost 0.2%. BHP Billiton pulled back from its early weakness to finish down 0.1% after it said it had appointed director Ken MacKenzie, former boss of packaging company Amcor, to succeed Jac Nasser as chairman.

Nikkei gains as soft yen boosts exporters

The Japan share market finished session in positive territory, as investors appetite for risk assets supported by the yens depreciation above 111-level against greenback on the back of brisk U.S. economic indicators released on Thursday. Investors also took heart from the Bank of Japan monetary policy statement. No change was made in the BOJs monetary policy as expected, following a two-day meeting. Securities, precision instrument and machinery-linked issues comprised those that gained the most by the close of play. The benchmark Nikkei 225 average gained 111.44 points, or 0.56%, to close at 19,943.26, while the broader Topix index of all first-section issues finished up 7.95 points, or 0.50%, at 1,596.04. Rising issues outnumbered falling ones 1,237 to 652 in the TSEs first section, while 129 issues were unchanged.Volume grew to 2.285 billion shares from Thursdays 1.881 billion shares. Export-oriented names attracted buying thanks to the weaker yen. They included automakers Nissan and Honda, camera maker Canon, electronics maker Panasonic, technology firm Kyocera and electronics parts producer Murata Manufacturing.

An overnight rise in U.S. long-term interest rates helped push up financial issues, such as megabank groups Mitsubishi UFJ, Sumitomo Mitsui and Mizuho, insurers Dai-ichi Life and Sompo Holdings and brokerage firms Nomura and Daiwa.

By contrast, game maker Nintendo, semiconductor-related Tokyo Electron, industrial robot maker Fanuc and restaurant chain operator Skylark met with selling. Also on the minus side were power firms, such as Shikoku Electric and Tohoku Electric, retail giant Seven & i Holdings and daily goods manufacturer Kao.

China Stocks fall on slowdown woes

The Mainland China equity market closed lower, as investors sentiment was soured by renewed concerns about slowdown in the worlds second-biggest economy after weak producer inflation and investment data. The Shanghai Composite Index fell 0.3%, or 9.32 points, to 3,123.17 while the CSI 300 n++ which tracks the large caps listed in Shanghai and Shenzhen n++ dropped 0.3%, or 10.03 points, to 3,518.76. The Shenzhen Composite Index lost 0.2%, or 3.66 points, to 1,866.05 while the Nasdaq style ChiNext shed 0.3%, or 6.21 points, to 1810.05. For the week, CSI300 dropped 1.6%, while Shanghai Composite Index contracted 1.1%.

Data this week showed that Chinas economy generally remained on solid footing in May, but tighter monetary policy, a cooling housing market and slowing investment reinforced views that it will gradually lose momentum in coming months.

Despite several fund injections into the banking system from the central bank over the past five days, n++liquidity remained tightening amid capital outflows. Last week a total of 40.9 billion yuan (US$6 billion) left the stock market, reported the China Securities Investor Protection Fund Corporation.

In a sign that Chinas central bank intends to stabilise market sentiment, the Peoples Bank of China (PBOC) injected a net 410 billion yuan ($60.17 billion) into money markets this week, the biggest weekly injection since mid-January.

The odds that MSCI will announce on June 21 its intention to include Chinese A shares in its global equity indices - a watershed moment for the mainlands capital markets - have increased after the index provider said this year it will cut the number of stocks eligible to 169 from the original proposal of 448. However fund managers are skeptical as to whether a favourable decision would actually lead to any material change in underlying market trends, given the small increase in Chinese weighting in the indices.Chinas securities regulator said on Friday that it hopes U.S. index provider MSCI will decide next week to include the countrys so-called A shares in its Emerging Market Index - but if not, Chinese capital market reform will not be derailed. We would always be happy to see that A shares are included in the MSCI index, and we could welcome such a decision, Zhang Xiaojun, China Securities Regulatory Commission (CSRC) spokesman told a news conference, according to CSRCs official website.

MSCI has rejected Chinas inclusion three times. It is due to announce on 21 June 2017 - whether to open up its Emerging Markets Index to China shares. Investors and analysts have said a yes decision is likely this time, after MSCI proposed in March to change the methodology for a China inclusion.

Hong Kong Stocks end with gains

The Hong Kong stock market ended higher, as investors chased for bargain hunting after the previous days sharp losses triggered by U.S. monetary tightening. Sector performance was mixed, with financials rising, but property developers, which is vulnerable to higher borrowing costs, continuing to fall. The Hang Seng Index rose by 0.2%, or 61.15 points, to 25,626.49 by the close, although it remains 1.6%, or 403.80 points, lower on the week. The Hang Seng China Enterprises index was 0.4%, or 38.74 points, higher at 10,384.89. Daily market turnover was HK$80.69 billion, up from Thursdays HK$74.99 billion.

The Federal Reserve raised short-term interests on Wednesday, and outlined plans to shrink the U.S. central banks balance sheet, raising concerns about tighter liquidity globally and capital flows out of Asia. Sentiment has also been dented by Chinas weak producer inflation and investment data, which reinforced concerns of a renewed slowdown in the worlds second-biggest economy.

Blue Chips were mixed. China Mobile (00941) rose 0.66% to HK$84.15, while HSBC (00005) gained 0.81% to HK$68.35. Tencent, the most heavily traded stock, fell modestly by 0.1% to close at HK$272.6. Ping An Insurance closed flat at HK$50.15, while AIA gained 0.6% to HK$55.80. Hutchison Telecom surged 3.5% to HK$2.68 and China Unicom was up 0.9% at HK$11.3.

Hong Kong property stocks remained under pressure. Sino Land was down 0.2% to HK$13.24, Sun Hung Kai slid 0.6% to HK$5.02, and Hang Lung group saw a 2.9% drop to HK$31.6. Cheung Kong Property, however, managed a 0.4% rise to HK$61.1 after buyback calls.

Hengan International (01044) put on 1.28% to HK$55.25 while Geely Auto (00175) dipped 2.35% to HK$14.14, making themselves the top blue-chip gainer and loser respectively.

Cowell (01415) surged 19.07% to HK$2.81 after it expects to record a significant improvement in the groups interim profit.

Indian Market ends on a flat note

A divergent trend was witnessed on last trading day of the week as the barometer index, the S&P BSE Sensex, settled with small losses while the Nifty 50 index registered small gains. The barometer index, the S&P BSE Sensex, fell 19.33 points or 0.06% to settle at 31,056.40. The Nifty 50 index rose 10 points or 0.1% to settle at 9,588.05. Selling in index heavyweight Infosys and pharma stocks was mostly offset by gains in index heavyweight ITC and HDFC Bank.

Index heavyweight Reliance Industries (RIL) rose 0.24%. RIL and BP yesterday, 15 June 2017 announced that they are moving forward to develop already-discovered deepwater gas fields, bringing new gas production for India. The two companies have agreed to deepen and expand their partnership to work jointly across a wide range of areas throughout Indias energy sector. The announcement was made after market hours yesterday, 15 June 2017. RIL and BP announced that they will award contracts to progress development of the R-Series deep water gas fields in Block KGD6 off the east coast of India. The project is expected to produce up to 12 million cubic metres (425 million cubic feet) of gas a day, coming on stream in 2020. This is the first of three planned projects in Block KGD6 that are expected to be developed in an integrated manner, producing from about 3 trillion cubic feet of discovered gas resources. Development of the three projects, with total investment of Rs 40000 crore ($6 billion), is expected to bring a total 30-35 million cubic metres (1 billion cubic feet) of gas a day new domestic gas production onstream, phased over 2020-2022.

ICICI Bank fell 0.13% after the company said that the committee of executive directors of the bank is scheduled to meet on 20 June 2017 to consider fund raising by way of issuance of senior unsecured long term bonds in the nature of debentures in single/multiple tranches on private placement basis. The announcement was made after market hours yesterday, 15 June 2017.

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Outcome of board meeting of Pervasive Commodities
Jun 16,2017

Pervasive Commodities announced that the Board of Directors meeting held on 16 June 2017 have considered the following:

1.Alteration of Main Object Clause of the Company.

2. Alteration of Name of Clause of the Company.

3. Allotment of Shares on Rights Issue basis under section 62(1)(a) of Companies Act 2013

4.To Conduct Postal ballot for passing of aforementioned resolution.

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Rupee recoups
Jun 16,2017

Rupee closed higher at 64.52/5225 per dollar on Friday (16 June 2017), versus its previous close of 64.62/6275 per dollar.

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Trent gets ratings assigned for proposed commercial paper issue
Jun 16,2017

Trent announced that CARE has assigned the credit rating of CARE A1+ to its proposed issue of commercial paper aggregating Rs 100 crore.

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Kunststoffe Industries to hold board meeting
Jun 16,2017

Kunststoffe Industries will hold a meeting of the Board of Directors of the Company on 23 June 2017.

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Gammon Infrastructure Projects to hold board meeting
Jun 16,2017

Gammon Infrastructure Projects will hold a meeting of the Board of Directors of the Company on 18 June 2017.

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Eastern Sugar & Industries to hold board meeting
Jun 16,2017

Eastern Sugar & Industries will hold a meeting of the Board of Directors of the Company on 22 June 2017.

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