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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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Nucleus Software Exports spurts after robust Q2 outcome
Oct 21,2016

The result was announced after market hours yesterday, 20 October 2016.

Meanwhile, the S&P BSE Sensex was down 150.46 points, or 0.53%, to 27,979.38

On BSE, so far 2.51 lakh shares were traded in the counter, compared with an average daily volume of 5,611 shares in the past one quarter. The stock hit a high of Rs 223.95 and a low of Rs 207 so far during the day. The stock hit a 52-week high of Rs 290.90 on 2 December 2015. The stock hit a 52-week low of Rs 145.20 on 29 February 2016. The stock had outperformed the market over the past 30 days till 20 October 2016, gaining 2.2% compared with 1.32% fall in the Sensex. The scrip, however, underperformed the market in past one quarter, falling 3.86% as against Sensexs 1.17% rise.

The small-cap company has an equity capital of Rs 32.38 crore. Face value per share is Rs 10.

Vishnu R. Dusad, CEO, Nucleus Software Exports said that the company saw continuing traction in cloud business and digital solutions in Q2 September 2016.

Nucleus Software Exports said that during the quarter, 10 product module implementations successfully went live across the globe. Cash and cash equivalents, including investments in debt schemes of mutual funds, fixed deposits with banks and tax free PSU bonds are at Rs 412.0 crore as on 30 September, 2016, as against Rs 342.6 crore on 30 September 2015.

Nucleus Software Exports is the leading provider of lending and transaction banking products to the global financial services industry.

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Sadbhav Engineering signs EPC agreements worth Rs 2273 crore
Oct 21,2016

Sadbhav Engineering has signed EPC agreements worth Rs 2273 crore for road construction under the transport segment for four projects with four step down subsidiaries.

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HCL Technologies to pay interim dividend
Oct 21,2016

HCL Technologies announced that interim dividend of Rs 6 per share for FY 2017 shall be paid on 07 November 2016.

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Zee Learn fixes record date for interim dividend
Oct 21,2016

Zee Learn has fixed 04 November 2016 as the Record Date for the purpose of payment of Interim Dividend.

Further, the payment will be made on or before 18 November 2016.

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Indiabulls Housing Finance fixes record date for interim dividend
Oct 21,2016

Indiabulls Housing Finance has fixed 03 November 2016 as the Record Date for the purpose of Payment of Interim Dividend.

The dividend will be paid on or before 20 November 2016.

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Rane Engine Valve jumps on turnaround Q2 results
Oct 21,2016

The result was announced during market hours today, 21 October 2016.

Meanwhile, the S&P BSE Sensex was down 154.84 points or 0.55% at 27,975.

High volumes were witnessed on the counter. On BSE, so far 71,944 shares were traded in the counter as against average daily volume of 6,686 shares in the past one quarter. The stock hit a high of Rs 794 and a low of Rs 700.10 so far during the day. The stock hit a record high of Rs 807.45 on 15 September 2016. The stock hit a 52-week low of Rs 442 on 12 February 2016. The stock had outperformed the market over the past one month till 20 October 2016, rising 6.9% compared with 1.38% decline in the Sensex. The scrip had also outperformed the market in past one quarter, jumping 55.34% as against Sensexs 0.77% rise.

The small-cap company has equity capital of Rs 6.72 crore. Face value per share is Rs 10.

Rane Engine Valves total operating income rose 4% to Rs 90.70 crore in Q2 September 2016 over Q2 September 2015. Earnings before interest, taxes, depreciation and amortization (EBITDA) margin rose to 2.3% in Q2 September 2016 from 1.8% in Q2 September 2015.

L Ganesh, Chairman of Rane Group said that the company continued to improve its operational performance. The debottlenecking efforts to improve plant production helped it to capitalize on strong demand in select market segments. The company was able to reduce the operational loss with focused efforts on material cost reduction, and stringent fixed cost reduction. These initiatives will continue in the upcoming quarters to improve operational efficiency and deliver profitable growth.

Rane Engine Valve manufactures engine valves, valve guides and tappets for various IC engine applications.

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Volumes jump at Nucleus Software Exports counter
Oct 21,2016

Nucleus Software Exports clocked volume of 2.34 lakh shares by 14:00 IST on BSE, a 33.44-times surge over two-week average daily volume of 7,000 shares. The stock jumped 14.02% to Rs 217.20.

Vardhman Textiles notched up volume of 51,000 shares, a 24.48-fold surge over two-week average daily volume of 2,000 shares. The stock declined 0.02% to Rs 1,088.

Cholamandalam Investment and Finance Company saw volume of 2.02 lakh shares, a 22.07-fold surge over two-week average daily volume of 9,000 shares. The stock rose 1.62% to Rs 1,204.

Caplin Point Laboratories clocked volume of 2.55 lakh shares, a 17.98-fold surge over two-week average daily volume of 14,000 shares. The stock surged 16.06% to Rs 407.95 after the company received Rs 35 crore in its wholly owned subsidiary Career Point Infra from Career Point University, Kota towards assets sale transaction. The announcement was made after market hours yesterday, 20 October 2016.

Carborundum Universal saw volume of 4.77 lakh shares, a 17-fold rise over two-week average daily volume of 28,000 shares. The stock declined 0.55% to Rs 282.50.

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Government to release Chana through NCDEX also from its buffer stock
Oct 21,2016

The meeting of Inter-Ministerial committee on prices held here today under chairmanship of Secretary Department of Consumer Affairs, Shri Hem Pande reviewed prices and availability of pulses. It was decided that besides offering Chana (chickpea) to the State Governments, its significant quantity should be released immediately through NCDEX (National Commodity & Derivatives Exchange Limited) also to cool down prices.

The meeting also suggested exploring possibility to use KVIC outlets for distribution of pulses besides postal network. The committee was informed that Department of Consumer Affairs is working on modalities with Department of Post to start distribution of pulses through its network at the earliest. The subsidized pulses are already being distributed through Kendriya Bhandar, Safal and NCCF in Delhi and NCR Region, NCCF is also selling the pulses in some other metros also.

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Fitch: Indian Telco Outlook Negative Amid Intense Competition
Oct 21,2016

Fitch Ratings expects the Indian telcos credit profiles to weaken amid intense competition and high capex requirements in 2017. Pricing power could be eroded as incumbents retaliate against new entrant Reliance Jios (part of Reliance Industries (BBB/Stable)) cheaper data tariffs and free voice and text.

The top-fours - Bharti Airtel Limited (Bharti, BBB-/Stable), Vodafone India, Idea Cellular and Rcom/Aircel - revenue market share will rise to around 84% (2016: 79%) as they gain market share from smaller telcos; we expect Reliance Jio to gain less than a 2% revenue market share in 2017 but to act a major price-disruptor to the sector.

Industry revenue growth could slow to the mid-single-digits (2016: 7%-8%) due to lower data revenue growth, as data tariffs could decline by at least 15%-20%. The EBITDA margin of the top-four telcos could decline by 150bp-200bp (2016 average: 34%) due to lower tariffs and increased marketing spend as data competition rises. Most telcos FCF will be negative, as cash generation is likely to fall short of capex requirements.

Rcoms BB- IDR has low headroom, as its FFO-adjusted net leverage is likely to remain at around 5.5x - higher than the 4.5x threshold above which Fitch may take negative rating action. We believe that Rcoms plan to demerge its wireless business is credit neutral - as the demerger will take away an equal proportion of debt and EBITDA from Rcom. Our Stable Outlook factors in our expectation that Rcom will use the proceeds from the sale of tower assets to improve leverage, commensurate with a BB- rating.

Bhartis BBB- IDR headroom may narrow as FFO-adjusted net leverage could deteriorate to over 2.0x (FY16: 1.8x, excluding USD5bn deferred spectrum costs) due to flat EBITDA as competition intensifies. Its 2017 operating EBITDAR margin could ease to 33%-34% (FY16: 35%) as Jios high-data-allocation plan could hit Bhartis premium customer base, which accounts for the most profitability at its Indian mobile segment.

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Career Point jumps after receiving Rs 35 crore for assets sale
Oct 21,2016

The announcement was made after market hours yesterday, 20 October 2016.

Meanwhile, the S&P BSE Sensex was down 107.99 points or 0.38% at 28,021.85

On BSE, so far 92,000 shares were traded in the counter as against average daily volume of 10,642 shares in the past one quarter. The stock hit a high of Rs 133.35 and a low of Rs 121 so far during the day. The stock had hit a 52-week high of Rs 160 on 2 December 2015. The stock had hit a 52-week low of Rs 94.50 on 17 February 2016. The stock had outperformed the market over the past 30 days till 20 October 2016, gaining 10.24% compared with 1.32% fall in the Sensex. The scrip also outperformed the market in past one quarter, advancing 1.68% as against Sensexs 1.17% rise.

The small-cap company has equity capital of Rs 18.13 crore. Face value per share is Rs 10.

Pramod Maheshwari, Chairman and Managing Director Career Point said that it was very strategic and vigilant decision for the company to enter in annuity driven formal education segment. The companys investments in formal education are being paid-off, Maheshwari said. At the same time, financing by the nationalized bank to the University indicates confidence in long-term prospects and financial steadiness of the University, he added.

On consolidated basis, Career Points net profit rose 2.17% to Rs 2.35 crore on 0.85% decline in total income to Rs 19.82 crore in Q1 June 2016 over Q1 June 2015.

Career Point caters to the needs of a student throughout the life cycle of a student (KG to PhD) while operating in both formal and informal education streams.

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JSW Holdings drops after reporting dismal Q2 results
Oct 21,2016

The result was announced during market hours today, 21 October 2016.

Meanwhile, the S&P BSE Sensex was down 121.20 points or 0.43% at 28,008.64.

On BSE, so far 2,449 shares were traded in the counter as against average daily volume of 2,356 shares in the past one quarter. The stock hit a high of Rs 1,285.40 and a low of Rs 1,247.95 so far during the day. The stock hit a 52-week high of Rs 1,394 on 15 July 2016. The stock hit a 52-week low of Rs 930.50 on 23 November 2015. The stock had outperformed the market over the past one month till 20 October 2016, rising 0.56% compared with 1.38% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, dropping 3.41% as against Sensexs 0.77% rise.

The mid-cap company has equity capital of Rs 11.10 crore. Face value per share is Rs 10.

JSW Holdings is the investment arm of JSW Group.

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Gulf Oil Lubricants gains after good Q2 result
Oct 21,2016

The result was announced after market hours yesterday, 20 October 2016.

Meanwhile, the S&P BSE Sensex was down 122.73 points or 0.44% at 28,004.93

On BSE, so far 6,949 shares were traded in the counter as against average daily volume of 3,621 shares in the past one quarter. The stock hit a high of Rs 774 and a low of Rs 745.75 so far during the day. The stock had hit a record high of Rs 780.40 on 7 October 2016. The stock had hit a 52-week low of Rs 452.10 on 21 March 2016. The stock had outperformed the market over the past 30 days till 20 October 2016, gaining 1.51% compared with 1.32% fall in the Sensex. The scrip also outperformed the market in past one quarter, advancing 25.02% as against Sensexs 1.17% rise.

The mid-cap company has equity capital of Rs 9.92 crore. Face value per share is Rs 2.

Gulf Oil Lubricants Indias earnings before interest, taxation, depreciation and amortization (EBITDA) rose 14% to Rs 44 crore in Q2 September 2016 over Q2 September 2015. The companys EBIDTA margins expanded by about 52 basis points on year on year basis to about 16.1% in Q2 September 2016 on the back of volume growth and steady margin.

Gulf Oil Lubricants India said that inspite of Q2 September 2016 quarter being seasonally a low offtake quarter due to the monsoons and reduced vehicle/equipment movements, the company achieved all round volume gains across segments to notch up overall double digit volume growth during the quarter.

Gulf Oil Lubricants India makes automotive and industrial lubricants, greases and 2-wheeler batteries. The company markets lubricants under the Gulf brand.

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Indian Navy Urges Indian Industry to Forge Strategic Partnership For Design and Construction of Underwater Vehicles
Oct 21,2016

Vice Admiral GS Pabby, AVSM, VSM, Controller of Warship Production & Acquisition, Indian Navy, said this is the right time for India to take a major step towards building submarines indigenously by forging a strategic partnership with the Indian industry. He urged the leading industry houses to grab the opportunity to strengthen Indians Navy and added that there is a plethora of design and development opportunities available to the private sector in manufacturing of Navy equipment for the future. He mentioned that the six submarines on offer to the private sector for under P75(I) program was yet another opportunity by MoD to integrate the private sector in strategic defence production.

Vice Adm GS Pabby said that though India entered the sphere of submarines late but it was able to quickly catch up with the complex technology. Today, Indian Navy is designing and developing many of its equipment indigenously. The Navy has also built need-based operational requirements but is now developing its capabilities and is setting up extensive infrastructure to develop submarines in India. He mentioned that the Indian Navy took a visionary step in 1986 to establish in-house submarine design capability and the proposed seminar coincides with the 30th anniversary of the Directorate of Naval Design (Submarine Design Group).

Rear Admiral CS Rao, NM, DGND (SDG), Indian Navy, presented the scope of seminar which aims to deliberate on unique challenges and complexities of submarine design and construction; with the aim to achieve national competence in submarine design and construction through industrial partnership. He mentioned that the seminar will be divided in two technical sessions wherein session 1 will focus on self-reliance in design and construction of submarines while session 2 will deliberate on design challenges in platform integration of emerging submarine technologies. During the seminar, the officers of Indian Navy, will present perspectives on the above topics and deliberate on the future requirements to be met by the industry, academia and research and development agencies.

Dr. A. Didar Singh, Secretary General, FICCI, said that the objective of the international seminar is to emphasize the design capabilities of Indian Navy and other design agencies and to hand hold Indian industry to make the best of the capabilities and how to focus on the future requirements. He said FICCI is continuously focusing on futuristic technologies and added that in order to fulfil the national aspiration of establishment of strong defence industrial base in country, there is a need to do away with licensed production. India needs to encourage innovations in design to enhance its scientific capabilities which can later be transferred to industries for commercialisation of defence technologies.

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Oil E&P stocks decline along with fall in crude oil prices
Oct 21,2016

Meanwhile, the S&P BSE Sensex was down 132.02 points or 0.48% at 27,995.68.

Among oil exploration and production companies, Cairn India (down 1.44%), ONGC (down 1.31%) and Oil India (down 0.49%) declined. Lower crude oil prices would result in decrease in realizations from crude sales for oil exploration firms.

Reliance Industries fell 1.79% after consolidated net profit dropped 22.9% to Rs 7206 crore on 9.6% increase in turnover to Rs 81651 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 20 October 2016.

Among public sector oil marketing companies, BPCL (up 0.85%), Indian Oil Corporation (IOCL) (up 0.54%) and HPCL (up 1.02%) edged higher.

Lower crude oil prices could decrease under-recoveries of PSU OMCs on domestic sale of LPG and kerosene at controlled prices. The government has already freed pricing of petrol and diesel. However, weakness is rupee raises cost of imports.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 66.8925, compared with closing of 66.81 during the previous trading session.

In global commodities markets, Brent crude oil futures extended losses as the dollar climbing to seven-month highs against a basket of currencies dragged down crude oil prices. Brent for December settlement was off 9 cents at $51.29 a barrel. The contract had dropped $1.29 a barrel or 2.44% to settle at $51.38 a barrel during previous trading session.

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Foseco India drops after poor Q3 result
Oct 21,2016

The result was announced after market hours yesterday, 20 October 2016.

Meanwhile, the BSE Sensex was down 131.26 points, or 0.47%, to 27,998.58

On BSE, so far 1,353 shares were traded in the counter, compared with an average volume of 227 shares in the past one quarter. The stock hit a high of Rs 1,519.95 and a low of Rs 1,451 so far during the day. The stock hit a record high of Rs 1,574 on 6 January 2016. The stock hit a 52-week low of Rs 1,070 on 1 March 2016. The stock had outperformed the market over the past 30 days till 20 October 2016, gaining 6.32% compared with 1.32% fall in the Sensex. The scrip also outperformed the market in past one quarter, advancing 9.02% as against Sensexs 1.17% rise.

The small-cap company has an equity capital of Rs 6.39 crore. Face value per share is Rs 10.

Foseco India offers the widest range of solutions for producing casting of the highest standards in terms of quality, surface finish, soundness, integrity and dimensional tolerance.

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