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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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Prabhat Dairy declines after reverse turnaround in Q4
May 24,2017

The result was announced after market hours yesterday, 23 May 2017.

Meanwhile, the S&P BSE Sensex was down 59.51 points, 0.2% at 30,305.74. The S&P BSE Small-Cap index was down 203.28 points, 1.38% at 14,566.58.

On the BSE, 1.43 lakh shares were traded on the counter so far as against the average daily volumes of 85,396 shares in the past one quarter. The stock had hit a high of Rs 110 and a low of Rs 99 so far during the day.

The stock had hit a 52-week high of Rs 150 on 13 February 2017 and hit a 52-week low of Rs 76.80 on 19 August 2016. The stock had underperformed the market over the past one month till 23 May 2017, declining 7.31% compared with the Sensexs 3.41% rise. The scrip had also underperformed the market over the past one quarter declining 8.08% as against the Sensexs 5.1% rise.

The small-cap company has equity capital of Rs 97.68 crore. Face value per share is Rs 10.

Prabhat Dairys consolidated net sales rose 23% to Rs 377.18 crore in Q4 March 2017 over Q4 March 2016.

Prabhat Dairys earnings before interest, tax, depreciation and amortization (EBITDA) increased by 17.9% to Rs 30.34 crore in Q4 March 2017 over Q4 March 2016.

EBITDA margin decreased to 8% in Q4 March 2017, from 8.4% in Q4 March 2016.

Prabhat Dairy is an integrated milk and dairy products company. The company is engaged in the business of procurement and processing of milk and sale of milk and milk products, such as ghee, flavored milk, skimmed milk powder, whole milk powder and condensed milk.

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SEAMEC provides business update
May 24,2017

SEAMEC announced that the Charter of its vessel REVELATION with Carlton India Engineers has ended on 23 May 2017.

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Supreme Tex Mart announces resignation of company secretary
May 24,2017

Supreme Tex Mart announced that Manpreet Kaur has resigned from post of Company Secretary of the Company on 22 May 2017.

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Bharat Forge moves north after impressive Q4 results
May 24,2017

The result was announced during market hours today, 24 May 2017.

Meanwhile, the S&P BSE Sensex was down 66.53 points or 0.22% at 30,298.72.

On the BSE, 1.68 lakh shares were traded on the counter so far as against the average daily volumes of 87,639 shares in the past one quarter. The stock had hit a high of Rs 1,092.20 and a low of Rs 1,040.20 so far during the day.

The stock had hit a 52-week high of Rs 1,175 on 3 May 2017 and a 52-week low of Rs 686.80 on 24 June 2016. It had underperformed the market over the past one month till 23 May 2017, sliding 3.15% compared with the Sensexs 3.41% rise. The scrip had also underperformed the market over the past one quarter, declining 2.48% as against the Sensexs 5.1% rise.

The large-cap company has equity capital of Rs 46.56 crore. Face value per share is Rs 2.

Bharat Forges Chairman & Managing Director B.N. Kalyani said that in Q4 March 2017, the company continued to witness sales growth, strong profitability and reduction of debt. The increase in sales was broad-based across segments and geographies, he said.

Looking ahead into FY 2018, the company expects its performance to be better than the underlying market demand, driven by improvement in North American market across sectors, ramp up of passenger vehicle business and increasing share of business from new sectors, Kalyani stated.

Bharat Forges board at its meeting held today, 24 May 2017, recommended a final dividend of Rs 5 per share for the year ended March 2017.

Bharat Forge is the flagship company of Kalyani Group. It is a global provider of high performance, innovative, safety & critical components and solutions to various industrial sectors including automotive, oil & gas, power, construction & mining, aerospace and rail & marine.

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Metal stocks lose luster after Moodys downgrades China
May 24,2017

Meanwhile, the S&P BSE Sensex was down 2.65 points or 0.01% at 30,362.60.

Bhushan Steel (down 2.62%), Vedanta (down 3.36%), Tata Steel (down 1.11%), NMDC (down 3.48%), Hindalco Industries (down 2.19%), Steel Authority of India (down 2.94%), JSW Steel (down 1.94%), Hindustan Zinc (down 2.97%) and National Aluminium Company (down 0.68%) edged lower. Jindal Steel & Power rose 3.71%.

The S&P BSE Metal index had underperformed the market over the past one month till 23 May 2017, rising 0.34% compared with Sensexs 3.41% gains. The index had also underperformed the market in past one quarter, dropping 6.59% as against Sensexs 5.1% rise.

The downgrading of the Chinas credit rating has worried the metal investors globally and domestically.

Moodys Investors Service cut Chinas sovereign credit rating for the first time in nearly three decades, citing expectations that the countrys financial strength will deteriorate in the coming years as debt keeps rising and the economy slows.

In a statement today, 24 May 2017, Moodys said it downgraded Chinas rating to A1 from Aa3, while changing its outlook to stable from negative. In March of last year, it cut Chinas outlook to negative from stable. Moodys last cut its China credit rating in November 1989, not long after the bloody crackdown on mass protests in Beijings Tiananmen Square rocked the nation. Moodys now rates Chinas credit alongside that of countries such as Japan, Saudi Arabia and Israel.

China is the worlds largest consumer of steel, copper and aluminum.

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Indias total fisheries production could reach 16 MMT by 2019: ASSOCHAM study
May 24,2017

Urging the government to double the outlay of Rs 3,000 crore for development and management of fisheries sector, apex industry body ASSOCHAM said that India could achieve about 16 million metric tonnes (MMT) of inland and marine fisheries production by 2019-20 thereby adopting a target oriented approach to achieve eight per cent growth year-on-year.

n++Aided by governments efforts to bring systemic changes in processing sector, the domestic segment in raw and processed fisheries sector in value terms is expected to touch Rs 1.5 lakh crore by 2020 and total domestic retail market is forecast to cross Rs 61 lakh crore or almost triple in next 4-5 years,n++ noted a just-concluded ASSOCHAM study titled Fisheries in India: Potential & prospects; Reference state - West Bengal.

n++Thus coupled with exports, fisheries sector in India should aim at a target of Rs two lakh crore by 2020 in value terms,n++ added the study conducted by Agri & Food Processing Division of The Associated Chambers of Commerce and Industry of India (ASSOCHAM).

n++Both direct and indirect employment in entire fisheries sector in India is likely to reach 15.25 million from an estimated 14 million in 2014-15,n++ said Mr D.S. Rawat, national secretary general of ASSOCHAM.

n++However, most of the incremental fish production will have to come from aquaculture and Blue Revolution will provide necessary impetus in this direction,n++ said Mr Rawat.

n++Achievement of ambitious targets in increasing fish production is possible only through harnessing potential in aquaculture,n++ he added.

The study further noted that since India is endowed with over 8,000 kilometres (kms) long coastline, exclusive economic zone of over two million square kms of continental shelf, there is scope to increase marine catch, which has turned sluggish lately.

Global fish production is likely to grow by about 1.5 per cent during 2015-2020 and reach a total of about 183 MT (million tonnes), while with value added/downstream products the trade in this sector could cross $200 billion by 2025, this despite the sluggish growth in exports, highlighted the ASSOCHAM study.

n++Marine/capture fisheries is set to hover around 93 MT and aquaculture production (89 MT) could overtake by 2021-22,n++ it said.

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Mohit Industries receives VAT refund
May 24,2017

Mohit Industries announced that the Company has received Rs. 8.5 crore as VAT refund, in reference to case for Gujarat Vat demand before Gujarat Value Added Tax Tribunal that has been decided in the Companys favour vide Gujarat value Added Tax Tribunal order dated 13 August 2015. The Honble Gujarat high Court vide its order dated 09 January 2017 ordered and directed to the VAT Department, Gujarat State for refund / pay input tax credit due to the company.

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Jubilant Life Sciences leads gainers on BSEs A group
May 24,2017

Jubilant Life Sciences jumped 9.4% at Rs 742 after consolidated net profit spurted 1272.3% to Rs 149.03 crore on 7% growth in net sales to Rs 1565.79 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 23 May 2017. The stock topped the gainers in A group. On the BSE, 3.68 lakh shares were traded on the counter so far as against the average daily volumes of 52,000 shares in the past two weeks.

Voltas surged 8.43% at Rs 444.30 after consolidated net profit rose 22.1% to Rs 200.47 crore on 8.5% growth in net sales to Rs 1998.31 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 23 May 2017. The stock was the second biggest gainer in A group. On the BSE, 10.99 lakh shares were traded on the counter so far as against the average daily volumes of 96,000 shares in the past two weeks.

Bajaj Electricals rose 6.08% at Rs 333.40. The stock was the third biggest gainer in A group. On the BSE, 1.14 lakh shares were traded on the counter so far as against the average daily volumes of 30,000 shares in the past two weeks.

Bharat Forge rose 3.79% at Rs 1,083.50. The stock was the fourth biggest gainer in A group. On the BSE, 1.53 lakh shares were traded on the counter so far as against the average daily volumes of 42,000 shares in the past two weeks.

Tata Motors rose 3.29% at Rs 464.90 after consolidated net profit fell 16.79% to Rs 4336 crore on 2.86% fall in revenues to Rs 77272 crore in Q4 March 2017 over Q4 March 2016. The result was declared after market hours yesterday, 23 May 2017. The stock was the fifth biggest gainer in A group. On the BSE, 10.36 lakh shares were traded on the counter so far as against the average daily volumes of 5.98 lakh shares in the past two weeks.

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Board of Cheviot Company approves proposal for buyback of shares
May 24,2017

Cheviot Company announced that the Board of Directors of the Company at their meeting held on 24 May 2017 have approved the proposal to Buy Back of up to 2,00,000 fully paid up ordinary shares for an aggregate amount not exceeding Rs. 30,00,00,000/- (Rupees Thirty Crores Only) excluding Companys transaction cost such as brokerage, securities transaction tax, stamp duty and taxes etc. being 4.43 % of the total paid-up share capital, at a price of Rs. 1,500/- (Rupees One Thousand Five Hundred Only) per share payable in cash from the shareholders of the Company as on the record date Friday, 16 June 2017, on a proportionate basis under the Tender Offer route using the stock exchange mechanism in accordance with the provisions contained in the Securities and Exchange Board of India (Buyback of Securities Regulations) 1998, as amended (Buy Back Regulations), SEBI Circulars issued in this regard and the Companies Act, 2013 read with rules framed thereunder which is within 10% of the fully paid up share capital and free reserves of the Company as per the latest available Standalone Audited Financial Statement for the financial year ended 31 March 2017.

The Board of directors have also taken on record the Intention of the Promoters of the Company to participate in the Buyback.

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Cheviot Company to pay dividend
May 24,2017

Cheviot Company announced that dividend, if declared at the annual general meeting, will be paid / dispatched on 30 August 2017.

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Volumes jump at Solar Industries India counter
May 24,2017

Solar Industries India clocked volume of 1.33 lakh shares by 13:43 IST on BSE, a 53.94-times surge over two-week average daily volume of 2,000 shares. The stock was up 0.05% at Rs 822.

Voltas notched up volume of 10.95 lakh shares, a 11.4-fold surge over two-week average daily volume of 96,000 shares. The stock jumped 9.08% at Rs 446.95 after consolidated net profit rose 22.1% to Rs 200.47 crore on 8.5% growth in net sales to Rs 1998.31 crore in Q4 March 2017 over Q4 March 2016.

BEML saw volume of 2.41 lakh shares, a 10.24-fold surge over two-week average daily volume of 24,000 shares. The stock slipped 2.79% at Rs 1,161.50.

Shree Cement clocked volume of 15,000 shares, a 7.91-fold surge over two-week average daily volume of 1,000 shares. The stock declined 3.98% at Rs 17,161.55.

Jubilant Life Sciences saw volume of 3.68 lakh shares, a 7.1-fold rise over two-week average daily volume of 52,000 shares. The stock jumped 8.97% at Rs 739.10 after consolidated net profit spurted 1272.3% to Rs 149.03 crore on 7% growth in net sales to Rs 1565.79 crore in Q4 March 2017 over Q4 March 2016.

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Swachh Bharat App Launched in National Museum
May 24,2017

n++Swachh Bharat Appn++ has been launched in National Museum under Ministry of Culture by the Minister of State (I/C) for Culture & Tourism Dr. Mahesh Sharma yesterday. The main focus of this n++Swachh Bharat Appn++ is to basically involve people actively to become part of Swachh Bharat Abhiyan (Clean India Movement).

At present, this App is available for Android Mobile phones which can be downloaded from Google Play Store. In this App the concept of Physical web is implemented. When you are in the monument or Museum it will deliver you the message about Swachh Bharat Abhiyan and ask you to report the garbage around you. All you need is to enable the Bluetooth of your mobile device. Even if you did not have the App installed then also you will be delivered the message by Google about the Swachh Bharat Abiyan and which will give you the link to install the App. Once you start the App it will ask to take photograph of the garbage and write the comment and just submit. It will be reported to the authority on the backend.

The App will be monitored by the Ministry of Culture and will play an important role in cultivating the significance of cleanliness to the citizens.

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VRL Logistics gets upgradation in credit ratings
May 24,2017

VRL Logistics announced that ICRA has upgraded the long term rating of the Company from ICRA BBB+ (Stable) to ICRA A- (Stable).

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Som Distilleries & Breweries provides business update
May 24,2017

Som Distilleries & Breweries announced that its brand Woodpecker Beer has been approved in the Canteen Store Department and the Company is expecting to dispatch initial orders within the next fortnight.

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Cupid slumps after uninspiring Q4 results
May 24,2017

The result was announced after market hours yesterday, 23 May 2017.

Meanwhile, the S&P BSE Sensex was up 63.83 points or 0.21% at 30,429.08. The S&P BSE Small-Cap index was down 38.02 points or 0.26% at 14,731.84.

On the BSE, 40,000 shares were traded on the counter so far as against the average daily volumes of 1.02 lakh shares in the past one quarter. The stock had hit a high of Rs 309.40 and a low of Rs 285.60 so far during the day.

The stock had hit a 52-week high of Rs 374 on 1 November 2016 and a 52-week low of Rs 251.25 on 27 July 2016. It had underperformed the market over the past one month till 23 May 2017, sliding 2.55% compared with the Sensexs 3.41% rise. The scrip had also underperformed the market over the past one quarter, advancing 0.18% as against the Sensexs 5.1% rise.

The small-cap company has equity capital of Rs 11.11 crore. Face value per share is Rs 10.

The companys earnings before interest, taxation, depreciation and amortization (EBITDA) declined 7.57% to Rs 8.18 crore in Q4 March 2017 over Q4 March 2016.

EBITDA margin shrank to 44% in Q4 March 2017, from 49% in Q4 March 2016.

As on 31 March 2017, the company has confirmed orders worth Rs 58 crore and repeat orders of Rs 31 crore both executable in the coming period.

Cupid said it remains confident of its growth over the foreseeable period as it continues to take key strategic initiatives for the scale up. This apart, the company would continue its efforts in evaluating new growth opportunities both through organic and inorganic route.

Cupids board at its meeting held yesterday, 23 May 2017, recommended final dividend of Rs 2 per share for the year ended March 2017.

Cupid is a leading manufacturer of quality male and female condoms.

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