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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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Gajanan Securities Services reports standalone nil net profit/loss in the March 2017 quarter
Jun 14,2017

Gajanan Securities Services reported no net profit/loss in the quarter ended March 2017 as against net profit of Rs 0.01 crore during the previous quarter ended March 2016. Sales reported to Rs 1.00 crore in the quarter ended March 2017. There were no Sales reported during the previous quarter ended March 2016.

For the full year,no net profit/loss reported in the year ended March 2017 and during the previous year ended March 2016. Sales reported to Rs 1.06 crore in the year ended March 2017. There were no Sales reported during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales1.000 0 1.060 0 OPM %-2.000 --9.430 - PBDT00.01 -100 00.01 -100 PBT00.01 -100 00 0 NP00.01 -100 00 0

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Jenburkt Pharmaceuticals standalone net profit rises 173.64% in the March 2017 quarter
Jun 14,2017

Net profit of Jenburkt Pharmaceuticals rose 173.64% to Rs 3.53 crore in the quarter ended March 2017 as against Rs 1.29 crore during the previous quarter ended March 2016. Sales rose 24.19% to Rs 27.21 crore in the quarter ended March 2017 as against Rs 21.91 crore during the previous quarter ended March 2016.

For the full year,net profit rose 24.86% to Rs 13.46 crore in the year ended March 2017 as against Rs 10.78 crore during the previous year ended March 2016. Sales rose 10.72% to Rs 102.90 crore in the year ended March 2017 as against Rs 92.94 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales27.2121.91 24 102.9092.94 11 OPM %20.9112.37 -19.1817.71 - PBDT6.453.46 86 22.0918.81 17 PBT6.002.91 106 20.3016.82 21 NP3.531.29 174 13.4610.78 25

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Sai Baba Investment and Commercial Enterprises plans sub-division of equity shares
Jun 14,2017

Sai Baba Investment and Commercial Enterprises has plans for sub-division of Equity Shares having Face Value of Rs.10/- each into 10 Equity Shares having Face Value of Rs.1/- each. The Board will consider the proposal on 10 July 2017.

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Kotak Mahindra Bank allots 190585 equity shares
Jun 14,2017

Kotak Mahindra Bank has allotted 1,90,585 equity shares under ESOP on 14 June 2017.

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HDIL recovers on bargain hunting
Jun 14,2017

Meanwhile, the S&P BSE Sensex was up 62.60 points or 0.2% at 31,166.09. The S&P BSE Mid-Cap index declined 9.05 points or 0.06% at 14,789.15.

On the BSE, 15.78 lakh shares were traded on the counter so far as against average daily volumes of 28.96 lakh shares in the past two weeks. The stock had hit a high of Rs 88.40 and a low of Rs 85.40 so far during the day. The stock had hit a 52-week high of Rs 108.75 on 12 July 2016. The stock hit a 52-week low of Rs 52.25 on 27 December 2016.

Shares of Housing Development & Infrastructure (HDIL) had fallen 8.44% in the preceding six trading sessions to settle at Rs 85.70 yesterday, 13 June 2017, from its closing of Rs 93.60 on 5 June 2017.

On 8 June 2017, HDIL issued clarification to the stock exchanges with regard to media news titled HDIL fails to repay loan, CBI seizes its Kurla property. The company said it has received the possession notice from the Central Bank of India on account of NPA due to technical reasons. The company had written to the Central Bank of India for closure of the said loan and reply is awaited.

HDILs consolidated net profit rose 28% to Rs 60.88 crore on 61.62% decline in net sales to Rs 129.51 crore in Q4 March 2017 over Q4 March 2016.

HDIL is a real estate development company, with significant operations in the Mumbai Metropolitan Region.

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Repco Home declines after recent sharp rally
Jun 14,2017

Meanwhile, the S&P BSE Sensex was up 49.91 points, or 0.16% at 31,153.40.The S&P BSE Mid-Cap index was down 24.39 points, or 0.16% at 14,773.81.

On the BSE, 31,000 shares were traded on the counter so far as against the average daily volumes of 29,000 shares in the past two weeks. The stock had hit a high of Rs 913.85 and a low of Rs 860.25 so far during the day. The stock had hit a record high of Rs 923 on 13 June 2017 and a 52-week low of Rs 499.50 on 20 December 2016.

Repco Home Finance had rallied 16.66% in the preceding three trading sessions to settle at Rs 907.95 yesterday, 13 June 2017, from its close of Rs 778.25 on 8 June 2017.

Repco Home Finances net profit rose 19.8% to Rs 50.59 crore on 13.9% increase in total income to Rs 273.66 crore in Q4 March 2017 over Q4 March 2016.

Repco Home Finance (RHFL) is one of the leading housing finance companies in India.

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Wintac to hold AGM
Jun 14,2017

Wintac announced that the th Annual General Meeting(AGM) of the company on 10 August 2017.

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Board of Shardul Securities recommends final dividend
Jun 14,2017

Shardul Securities announced that the Board of Directors of the Company at its meeting held on 26 May 2017, inter alia, have recommended the final dividend of Rs 0.6 per equity Share (i.e. 6%) , subject to the approval of the shareholders.

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Board of Southern Gas recommends final dividend
Jun 14,2017

Southern Gas announced that the Board of Directors of the Company at its meeting held on 26 May 2017, inter alia, have recommended the final dividend of Rs 35 per equity Share (i.e. 35%) , subject to the approval of the shareholders.

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Board of Arman Financial Services recommends final dividend
Jun 14,2017

Arman Financial Services announced that the Board of Directors of the Company at its meeting held on 26 May 2017, inter alia, have recommended the final dividend of Rs 1 per equity Share (i.e. 10%) , subject to the approval of the shareholders.

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Cabinet approves Interest Subvention to banks on Short-Term crop loan to farmers
Jun 14,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the Interest Subvention Scheme (ISS) for farmers for the year 2017-18. This will help farmers getting short term crop loan up to Rs. 3 lakh payable within one year at only 4% per annum. The Government has earmarked a sum of Rs. 20,339 crore for this purpose.

The interest subvention will be given to Public Sector Banks (PSBs), Private Sector Banks, Cooperative Banks and Regional Rural Banks (RRBs) on use of own funds and to NABARD for refinance to RRBs and Cooperative Banks.

The Interest Subvention Scheme will continue for one year and it will be implemented by NABARD and RBI.

The objective of the scheme is to make available at ground level, agricultural credit for Short Term crop loans at an affordable rate to give a boost to agricultural productivity and production in the country.

The salient features of the scheme are as follows:

a) The Central Government will provide interest subvention of 5 per cent per annum to all prompt payee farmers for short term crop loan upto one year for loan upto Rs. 3 lakhs borrowed by them during the year 2017-18. Farmers will thus have to effectively pay only 4% as interest. In case farmers do not repay the short term crop loan in time they would be eligible for interest subvention of 2% as against 5% available above.

b) The Central Government will provide approximately Rs. 20,339 crore as interest subvention for 2017-18.

c) In order to give relief to small and marginal farmers who would have to borrow at 9% for the post harvest storage of their produce, the Central Government has approved an interest subvention of 2% i.e. an effective interest rate of 7% for loans upto 6 months.

d) To provide relief to the farmers affected by natural calamities, the interest subvention of 2% will be provided to Banks for the first year on the restructured amount.

e) In case farmers do not repay the short term crop loan in time they would be eligible for interest subvention of 2% as against available above.

Major Impact :

Credit is a critical input in achieving high productivity and overall production in the agricultural sector. The Cabinets approval of a sum of Rs.20,339 crore to meet various obligations arising from interest subvention being provided to the farmers on short term crop loans, as also loans on post harvest storages meets an important input requirement of the farmers in the country. This institutional credit will help in delinking the farmers from non-institutional sources of credit, where they are compelled to borrow at usurious rates of interest.

Since the crop insurance under Pradhan Mantri Fasal Bima Yojana (PMFBY) is linked to availing of crop loans, the farmers would stand to benefit from both farmer oriented initiatives of the Government, by accessing the crop loans.

An important initiative of the government is market reforms, with a view to ensuring that the farmers benefit from remunerative prices for their produce in the market. The electronic National Agriculture Market (e-NAM) that was launched by Government on April, 2016 aims at integrating the dispersed APMCs through an electronic platform and enable price discovery in a competitive manner, to the advantage of the farmers. While the farmers are advised to undertake on-line trade, it is also important that they avail themselves of post-harvest loans by storing their produce in the accredited warehouses. The loans are available to Kisan Credit Card (KCC) holding small and marginal farmers at interest subvention of 2 per cent on such storages for a period of upto six months. This will help the farmers to sell when they find the market is buoyant, and avoid distress sale. It is, therefore, needful for the small and marginal farmers to keep their KCCs alive.

The Government is keen in improving income of the farmers, for which it has launched several new initiatives that encompass activities from seed to marketing. The credit from institutional sources will complement all such government initiatives like Soil Health Card, Input Management, Per Drop More Crop in Pradhan Mantri Krishi Sichai Yojana (PMKSY), PMFBY, e-NAM, etc.

Background:

The scheme has been running since 2006-07. Under this, the farmers can avail concessional crop loans of upto Rs.3 lakh at 7% rate of interest. It also provides for an additional subvention of 3%. Prompt Repayment within a period of one year from the date of advance. As a measure to check distress sale, post-harvest loans for storage in accredited warehouses against Negotiable Warehouse Receipts (NWRs) are available for upto 6 months for KCC holding small & marginal farmers. During the year 2016-17, the volume of short term crop loan lent stood at Rs.6,22,685 crore, surpassing the target of Rs. 6,15,000 crore.

Attention: Brief for Electronic Media

Government provides Interest subvention to different banks and cooperatives for short term crop loan extended by them to farmers at concessional rate of 7% and in case of timely repayment, an additional subvention of 3%. In effect, crop loans are available to farmers at 4% rate of interest. The scheme also envisages other benefits including interest at concessional rate of 7% for storage in ware houses accredited by Warehousing Development Regulatory Authority (WDRA) for upto 6 months post harvest for avoiding distress sale. This provides institutional credit to the farmers and disengages them from non-institutional sources of credit, where they are prone to exploitation by private money lenders. All short term crop loan accounts will be Aadhaar linked from current year.

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GMR Infra extends recent rally
Jun 14,2017

Meanwhile, the S&P BSE Sensex was up 63.61 points, or 0.20% to 31,167.10.

On the BSE, 73.91 lakh shares were traded in the counter so far, compared with average daily volumes of 28.40 lakh shares in the past one quarter. The stock had hit a high of Rs 19.75 and a low of Rs 18.15 so far during the day. The stock hit a 52-week high of Rs 19.50 on 13 June 2017. The stock hit a 52-week low of Rs 10.25 on 9 November 2016.

The stock had outperformed the market over the past one month till 13 June 2017, rising 7.71% compared with 2.58% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 14.94% as against Sensexs 5.80% rise. The scrip had also outperformed the market in past one year, rising 51.41% as against Sensexs 17.84% rise.

The large-cap company has equity capital of Rs 603.59 crore. Face value per share is Re 1.

Shares of GMR Infrastructure have risen 18.13% in four trading sessions from its close of Rs 16.55 on 8 June 2017.

According to recent media reports, the joint venture between GMR Infrastructure and Philippines-based Megawide Construction, which runs the Mactan Cebu International Airport (MCIA), submitted a massive unsolicited offer to build a second runway and a third passenger terminal in Cebu.

The unsolicited offer by the joint venture, which would eventually require a competitive challenge, was submitted on 7 June 2017. A key feature of the proposal would also allow GMR-Megawide to assume airside operations currently handled by the nations government, a first of this scale in the Philippines, reports suggested.

Assuming the offer is accepted by the government, the rehabilitation of existing facilities will be done from 2018 to 2021. The reclamation and construction of the second runway is targeted between 2022 and 2030. The final phase will be the construction of a third terminal slated for 2036 onward, reports added.

GMR Infrastructure reported net loss of Rs 2478.78 crore in Q4 March 2017 as against net loss of Rs 1787.09 crore in Q4 March 2016. Net sales rose 57.53% to Rs 176.98 crore in Q4 March 2017 over Q4 March 2016.

GMR Group is a leading global infrastructure conglomerate with interests in airport, energy, transportation and urban infrastructure.

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Cabinet approves signing of Memorandum of Understanding between India and Armenia on cooperation on youth matters
Jun 14,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi was apprised about an Memorandum of Understanding which has already been signed between India and Armenia for cooperation on youth matters.

The MoU was signed in April, 2017. This MoU shall remain in force for a period of five years. Thereafter, the MoU will be automatically renewed for successive periods of five years, unless either Party notifies the other Party of its intention of not to renew the MoU, at least six months before its expiration. It can be terminated by either Party after giving six months prior notice in writing to the other Party.

The objective of the MoU is to strengthen and encourage cooperation between the two countries on youth matters through participation in events and activities organized by the parties, information and knowledge sharing, and youth exchanges between the two countries.

The areas of cooperation on Youth matters includes exchanges of youth, representatives of youth organizations, and government officials in-charge of youth policy-making. It will also be applicable for extension of invitations to international conferences and seminars on youth matters held in the two countries, exchange of printed materials, films and experiences. The cooperation will also be in areas of research and other information on youth matters, participation in youth camps, youth festivals and other youth events held in the two countries, etc.

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Cabinet approves signing of MoU between India and Bangladesh for promoting cooperation in field of Information Technology and Electronics
Jun 14,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi was apprised about an Memorandum of Understanding (MoU) which has already been signed between India and Bangladesh for promoting cooperation in the field of Information Technology and Electronics (IT&E).

The MoU was signed in April, 2017 between Ministry of Electronics and Information Technology, Government of India and Information and Communication Technology Division of Bangladesh. It will remain in force for a period of five years. Thereafter, the MoU will be extended at any time within the period it remains in force by mutual written consent of the Parties. It can be terminated by either Party after giving six months prior notice in writing to the other Party.

The MoU in the field of IT&E is technical in nature and focused primarily on e-Governance, m-Governance, e-Public Services Delivery, Cyber Security, Capacity Building etc. The MoU aims to explore business opportunities, IT&E market in Bangladesh by Indian IT companies and attract investment in Indian electronics and IT sectors in India which would indirectly generate employment opportunities.

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Board of Capital Trade Links recommends final dividend
Jun 14,2017

Capital Trade Links announced that the Board of Directors of the Company at its meeting held on 29 May 2017, inter alia, have recommended the final dividend of Rs 0.075 per equity Share (i.e. 7.5%) , subject to the approval of the shareholders.

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