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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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Rich Universe Network to hold board meeting
Oct 21,2016

Rich Universe Network will hold a meeting of the Board of Directors of the Company on 7 November 2016, to consider & approve the un-audited financial results for the quarter ended 30 September 2016.

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Welspun India to hold board meeting
Oct 21,2016

Welspun India will hold a meeting of the Board of Directors of the Company on 14 November 2016, to consider and take on record, unaudited financial results for the quarter ended on 30 September 2016.

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Rolcon Engineering Company to hold board meeting
Oct 21,2016

Rolcon Engineering Company will hold a meeting of the Board of Directors of the Company on 8 November 2016, to consider and approve the Unaudited financial Result of the Company for the quarter ended on 30 September 2016.

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Ind-Agiv Commerce to hold board meeting
Oct 21,2016

Ind-Agiv Commerce will hold a meeting of the Board of Directors of the Company on 28 October 2016, to Consider and take on record the Unaudited financial results for the half year ended on 30 September 2016.

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Gujarat Ambuja Exports to hold board meeting
Oct 21,2016

Gujarat Ambuja Exports will hold a meeting of the Board of Directors of the Company on 12 November 2016, to consider and approve Unaudited Financial Results of the Company for the second quarter and half year ended 30 September 2016 as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

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Syngene International hits record high after posting robust Q2 results
Oct 21,2016

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

Meanwhile, the S&P BSE Sensex was down 135.11 points, or 0.49%, to 27,990.72.

High volumes were witnessed on the counter. On BSE, so far 65,911 shares were traded in the counter, compared with average daily volume of 31,445 shares in the past one quarter. The stock hit a high of Rs 565 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 546.05 so far during the day. The stock hit a 52-week low of Rs 343.70 on 9 November 2015. The stock had outperformed the market over the past one month till 20 October 2016, rising 14.88% compared with 1.38% decline in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 28.49% as against Sensexs 0.77% rise.

The mid-cap company has equity capital of Rs 200 crore. Face value per share is Rs 10.

Syngene Internationals earnings before interest, taxes, depreciation and amortization (EBITDA) rose 49% to Rs 122 crore in Q2 September 2016 over Q2 September 2015. EBITDA margin rose to 38% in Q2 September 2016 from 31% in Q2 September 2015.

Promoted by Biocon, Syngene International is a leading India-based contract research organization (CRO) offering a suite of integrated and end-to-end discovery and development services for novel molecular entities (NMEs) across industrial sectors. Biocon holds 72.61% stake in Syngene, as per the shareholding pattern as on 30 September 2016.

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Biocon scales record high after turnaround Q2 outcome
Oct 21,2016

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

Meanwhile, the S&P BSE Sensex was down 138 points or 0.49% at 27,991.84

On BSE, so far 2.23 lakh shares were traded in the counter as against average daily volume of 1.67 lakh shares in the past one quarter. The stock hit a high of Rs 1,020 so far during the day, which is also a record high for the stock. The stock hit a low of Rs 978 so far during the day. The stock had hit a 52-week low of Rs 430.80 on 12 February 2016. The stock had outperformed the market over the past 30 days till 20 October 2016, gaining 3.48% compared with 1.32% fall in the Sensex. The scrip also outperformed the market in past one quarter, advancing 21.21% as against Sensexs 1.17% rise.

The large-cap company has equity capital of Rs 100 crore. Face value per share is Rs 5.

Biocons consolidated total income rose 21.2% to Rs 992.50 crore in Q2 September 2016 over Q2 September 2015. Consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) rose 45% to Rs 277 crore in Q2 September 2016 over Q2 September 2015. EBITDA margin improved to 28% in Q2 September 2016 from 23% in Q2 September 2015.

Biocon said that the company reported robust performance led by a strong growth of Small Molecules, Biologics and Syngene. Licensing income stood at Rs 32 crore while other income reported was Rs 52 crore in Q2 September 2016.

Commenting on the quarterly performance and highlights, Chairperson and Managing Director, Kiran Mazumdar-Shaw stated that the companys performance in Q2 September 2016, was led by strong growth across small molecules, biologics and research services. Expansion of biologics footprint in emerging markets and licensing agreements boosted the revenue further. The companys ready-to-use Insulin Glargine pen launched in Japan has been well received which augurs well for business. The acceptance of proposed biosimilar Trastuzumab filing for review by EMA was a critical milestone in Q2 September 2016. She added that long term investments in R&D, manufacturing facility in Malaysia and clinical advancement of programs will enable the company to unlock greater value, going forward.

Biocon is Indias largest and fully-integrated, innovation-led biopharmaceutical company.

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Over 2000 visitors thronged Consumer Mela to register their grievances
Oct 21,2016

The Consumer Mela organized by Department of Consumer Affairs on 20 October at Central Park, Connaught Place in New Delhi generated enough enthusiasm among the Consumers and more than 2000 visitors thronged the Mela to register their grievances or for counseling. National Consumer Helpline Stall registered more than 200 visitors. State Bank of India reported that 100 visitors to their counter with different queries and suggestions. There were 60 visitors in the ASCI counter enquiring about misleading advertisements. FSSAI had 250 visitors while TRAI had 200 visitors in their stall.

The Mela was organized in association with the industry bodies, FICCI, ASSOCHAM, CII, PHD CHEMBER and DICCI as well as sector regulators like TRAI FSSAI, BIS etc.

The main objective of the mela was to bring the consumers and company face to face so as to resolve the grievances to the extent possible. This was also an opportunity for the consumers to register their grievances on the spot.

During the inauguration, the Minister also launched week long Consumer Awareness programme to be observed throughout the country during 20 to 27 October 2016 this year. He announced that from next year the consumer awareness week will be observed for one week from March 15, which is World Consumer Rights Day. Incidentally, the department is also observing Swachhta Pakhwada from 16 to 31 Oct 2016 . During the Mela the visitors were informed about the responsibility of the Consumers to keep their surroundings clean.

In the Mela, apart from National Consumer Helpline, BIS, FSSAI, NTH, NCDRC, Weights and Measures, reputed private companies also participated in good number. All together there were 50 stalls put up by participants.

Shri Hem Pande, Secretary Department of Consumer Affairs exhorted all the State Governments to replicate the Mela in their respective State and UTs so as to empower the Consumers.

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Praj Industries drops after announcing weak Q2 results
Oct 21,2016

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

Meanwhile, the S&P BSE Sensex was down 129.29 points or 0.46% at 28,001.20.

On BSE, so far 2.98 lakh shares were traded in the counter as against average daily volume of 2.04 lakh shares in the past one quarter. The stock hit a high of Rs 83.10 and a low of Rs 79.45 so far during the day. The stock had hit a 52-week high of Rs 105.15 on 4 July 2016. The stock had hit a 52-week low of Rs 70.40 on 26 February 2016. The stock had underperformed the market over the past one month till 20 October 2016, declining 1.83% compared with 1.38% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 8.02% as against Sensexs 0.77% rise.

The mid-cap company has equity capital of Rs 35.68 crore. Face value per share is Rs 2.

Praj Industries consolidated order backlog as on 30 September 2016 stood at Rs 1025 crore, which comprised 72% orders from domestic market.

Praj Industries offers innovative solutions for beverage alcohol and bioethanol plant, brewery, water & wastewater treatment plant, critical process equipment and systems and bioproducts.

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Biocon reports consolidated net profit of Rs 146.70 crore in the September 2016 quarter
Oct 21,2016

Net profit of Biocon reported to Rs 146.70 crore in the quarter ended September 2016 as against net loss of Rs 10.60 crore during the previous quarter ended September 2015. Sales rose 19.85% to Rs 932.10 crore in the quarter ended September 2016 as against Rs 777.70 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales932.10777.70 20 OPM %25.7521.74 - PBDT271.90188.90 44 PBT203.60127.90 59 NP146.70-10.60 LP

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HCL Technologies standalone net profit rises 20.83% in the September 2016 quarter
Oct 21,2016

Net profit of HCL Technologies rose 20.83% to Rs 1690.72 crore in the quarter ended September 2016 as against Rs 1399.29 crore during the previous quarter ended September 2015. Sales rose 8.17% to Rs 4705.77 crore in the quarter ended September 2016 as against Rs 4350.15 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales4705.774350.15 8 OPM %41.7036.32 - PBDT2197.851831.28 20 PBT2095.581742.90 20 NP1690.721399.29 21

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JM Financial provides update on subsidiary
Oct 21,2016

JM Financial announced that JM Financial Products, a subsidiary of the Company, has on 20 October 2016 executed the agreement(s) to acquire equity shares representing up to 24.50% (on a fully diluted basis) of the total paid up equity share capital of India Home Loans (IHL) through secondary purchase and/or preferential allotment route.

The acquisition as above by JM Financial Products is with the intention to transfer the entire equity stake in IHL (after factoring the carrying cost for the period it remains in the books of JM Financial Products) to a Fund/Trust to be established and managed/sponsored by JM Financial Investment Managers, the asset management company for Alternative Assets business in the JM Financial Group.

IHL is engaged in the business of providing home loans to individuals and families in the affordable housing segment. The equity shares of IHL are currently traded on the BSE.

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HCL Tech gains after retaining revenue growth guidance for FY 2017
Oct 21,2016

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

Meanwhile, the S&P BSE Sensex was down 135.88 points or 0.48% at 27,993.96.

On BSE, so far 1.15 lakh shares were traded in the counter as against average daily volume of 1.58 lakh shares in the past one quarter. The stock hit a high of Rs 848.70 and a low of Rs 822 so far during the day. The stock had hit a 52-week high of Rs 889.80 on 1 February 2016. The stock had hit a 52-week low of Rs 706.50 on 11 May 2016. The stock had outperformed the market over the past one month till 20 October 2016, rising 2.91% compared with 1.38% decline in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 11.77% as against Sensexs 0.77% rise.

The large-cap company has equity capital of Rs 282.18 crore. Face value per share is Rs 2.

HCL Technologies consolidated net profit fell 1.6% to Rs 2014 crore on 1.6% growth in revenue to Rs 11519 crore in Q2 September 2016 over Q1 June 2016. Revenue in constant currency rose 2.8% in Q2 September 2016 over Q1 June 2016. The company expects revenue growth between 12% to 14% in constant currency terms in the current financial year ending 31 March 2017 (FY 2017). This translates into 11% to 13% growth in dollar terms based on 30 September 2016 exchange rates. HCL Technologies expects its operating margin (EBIT) to be in the range of 19.5% to 20.5% for FY 2017.

HCL Technologies announced that the board of directors of the company declared an interim dividend of Rs 6 per share for FY 2017.

HCL Technologies CFO Anil Chanana said the conversion of net income to operating cash flow has been in excess of 100% for last twelve months ended 30 September 2016 while the return on equity continues to be robust at 28%.

HCL Technologies announced that C. Vijayakumar, Chief Operating Officer of the company has been elevated to the position of the President and Chief Executive Officer of the company with effect from 20 October 2016. Anant Gupta has decided to leave the company to pursue personal interests outside of HCL.

Separately, HCL Technologies before market hours today, 21 October 2016 announced that it has entered into an agreement to acquire Butler America Aerospace, LLC (Butler Aerospace), a provider of engineering, design services and aftermarket engineering services to US Aerospace and Defense customers. Butler Aerospace is a wholly owned subsidiary of Butler America LLC. The proposed acquisition will exclude the staffing business of Butler America Inc. The consideration for the proposed transaction is $85 million to be paid in cash. The acquisition is subject to regulatory approvals including CFIUS approval in the US, along with other customary closing conditions. It is expected to be completed by 31 December 2016.

Butler Aerospace had revenues of $85.4 million for the year ended 31 December 2015 at earnings before interest and tax (EBIT) of 12.2%. The acquisition when consummated is likely to be EPS accretive, HCL Technologies said. Butler Aerospace serves customers primarily in the Aerospace and Defense industries in the US, to whom it provides engineering & design services in the areas of mechanical and structural design, electrical design, tool design and aftermarket engineering services. With over 900 highly skilled engineers and 7 design centers in the US, Butler Aerospace has a marquee list of clients in the Aerospace & Defense industries and works with OEMs and their suppliers. The acquisition will bolster HCLs capabilities in this space and access to clients with large R&D spends.

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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Government decides to issue Sovereign Gold Bonds Scheme 2016 -17-Series III
Oct 21,2016

Government of India, in consultation with the Reserve Bank of India (RBI), has decided to issue Sovereign Gold Bonds 2016-17 - Series III. Applications for the bonds will be accepted from October 24, 2016 to November 02, 2016. The Bonds will be issued on November 17, 2016. The Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognised stock exchanges viz., National Stock Exchange of India and Bombay Stock Exchange.

The features of the Bond are given below:

Product name: Sovereign Gold Bond 2016-17 - Series III

Issuance: To be issued by Reserve Bank India on behalf of the Government of India.

Eligibility: The Bonds will be restricted for sale to resident Indian entities including individuals, HUFs, Trusts, Universities and Charitable Institutions.

Denomination: The Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram.

Tenor: The tenor of the Bond will be for a period of 8 years with exit option from 5th year to be exercised on the interest payment dates.

Minimum size: Minimum permissible investment will be 1 grams of gold.

Maximum limit: The maximum amount subscribed by an entity will not be more than 500 grams per person per fiscal year (April-March). A self-declaration to this effect will be obtained.

Joint holder: In case of joint holding, the investment limit of 500 grams will be applied to the first applicant only.

Issue price: Price of Bond will be fixed in Indian Rupees on the basis of simple average of closing price of gold of 999 purity published by the India Bullion and Jewellers Association Limited for the week (Monday to Friday) preceding the subscription period. The issue price of the Gold Bonds will be ` 50 per gram less than the nominal value.

Payment option: Payment for the Bonds will be through cash payment (upto a maximum of Rs. 20,000) or demand draft or cheque or electronic banking.

Issuance form: Government of India Stock under GS Act, 2006. The investors will be issued a Holding Certificate. The Bonds are eligible for conversion into demat form.

Redemption price:The redemption price will be in Indian Rupees based on previous weeks (Monday-Friday) simple average of closing price of gold of 999 purity published by IBJA.

Sales channel: Bonds will be sold through banks, Stock Holding Corporation of India (SHCIL), designated post offices as may be notified and recognised stock exchanges viz., National Stock Exchange of India and Bombay Stock Exchange, either directly or through agents.

Interest rate: The investors will be compensated at a fixed rate of 2.50 per cent per annum payable semi-annually on the nominal value of investment.

Collateral: Bonds can be used as collateral for loans. The loan-to-value (LTV) ratio is to be set equal to ordinary gold loan mandated by the Reserve Bank from time to time.

KYC Documentation: Know-your-customer (KYC) norms will be the same as that for purchase of physical gold. KYC documents such as Voter ID, Aadhaar card/PAN or TAN /Passport will be required.

Tax treatment: The interest on Gold Bonds shall be taxable as per the provision of Income Tax Act, 1961 (43 of 1961). The capital gains tax arising on redemption of SGB to an individual has been exempted. The indexation benefits will be provided to long term capital gains arising to any person on transfer of bond.

Tradability: Bonds will be tradable on stock exchanges/NDS-OM from a date to be notified by RBI.

SLR eligibility: The Bonds will be eligible for Statutory Liquidity Ratio purposes.

Commission: Commission for distribution of the bond shall be paid at the rate of 1% of the total subscription received by the receiving offices and receiving offices shall share at least 50% of the commission so received with the agents or sub agents for the business procured through them.

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Stovec Industries to hold board meeting
Oct 21,2016

Stovec Industries will hold a meeting of the Board of Directors of the Company on 11 November 2016, to consider, approve and take on record the Unaudited Financial Results of the Company for the quarter ended on 30 September 2016.

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