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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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LPG coverage to increase by 75% by 2019
Nov 29,2016

The Government with a view to increase LPG coverage to 75% by 2019 and to provide LPG connections to poor household, has launched Pradhan Mantri Ujjwala Yojana (PMUY). Under PMUY, 5 crore new LPG connections over a period of three years starting from 2016-17 to BPL households identified through SECC data, are to be released. In order to ensure availability and accessibility of LPG, Public Sector Oil Marketing Companies (OMCs) appoint new LPG distributors based on market feasibility. Currently selection and commissioning of new distributors is underway in more than 2300 locations. Further advertisement for 400 locations each in the States of UP and Odisha has been released by OMCs.

Release of LPG connections is a continuous process. LPG distributors are under instruction to release new connections on demand and, if any waiting list arises, liquidate the same within seven days.

Assessment of requirement of LPG (domestic/commercial) in the country including state of Madhya Pradesh is made by Public Sector Oil Marketing Companies (OMCs) on annual basis for planning the imports as indigenous production of LPG is less than the demand. The projected demand is monitored on a regular basis and necessary changes in the projections are made based on the prevailing sales trend, change in policies or any other factor which may influence the demand. Action is taken accordingly to meet any fluctuation in demand of LPG due to such factors.

OMCs carry out regular surprise inspections at distributors premises, conduct refill audits, surprise checks at customers premises, en-route checking of delivery vehicles etc., to check black-marketing and pilferage of cylinders.

During 2015-16, the established cases of malpractice/irregularities including overcharging, underweight/pilferage of LPG cylinders were 2633.

Public Sector Oil Marketing Companies (OMCs) take punitive action under the prevailing Marketing Discipline Guidelines (MDG) and the Distributorship Agreement against LPG distributors in all established cases of irregularities.

SMSs are sent to the LPG consumers at the time of booking, cash memo generation and delivery of cylinders.

Further, HPCL had launched Smart Refill Delivery Management on Pilot basis through Mobile application n++zy Gas. The advantages/features of the application are:

1. Delivery of Refill Cylinder to right consumer

2. Delivery of Refill Cylinder at right place at right time.

3. Options to the consumers to pay for the refill using cash or credit Card/Debit Card at the time of delivery at their door step. (E-Wallets to be integrated)

4. On the spot Delivery confirmation in the central system of HPCL as delivery happens

5. Near real time display of all delivery related information at the distributorship through a dashboard, providing much needed control of distributors on delivery process.

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Triveni Engineering & Industries spurts after robust Q2 results
Nov 29,2016

The result was announced after market hours yesterday, 28 November 2016.

Meanwhile, the BSE Sensex was up 199.33 points, or 0.76%, to 26,549.50.

On BSE, so far 3.61 lakh shares were traded in the counter, compared with average daily volume of 1.64 lakh shares in the past one quarter. The stock hit a high of Rs 64.70 and a low of Rs 61.80 so far during the day. The stock hit a 52-week high of Rs 68 on 4 July 2016. The stock hit a 52-week low of Rs 33.90 on 9 December 2015. The stock had outperformed the market over the past 30 days till 28 November 2016, falling 3.52% compared with the 5.66% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 10.19% as against Sensexs 7.03% decline.

The small-cap company has equity capital of Rs 25.79 crore. Face value per share is Re 1.

Triveni Engineering & Industries has core competencies in the areas of sugar and engineering. The company is one amongst the largest sugar manufacturers in India and the market leader in its engineering businesses comprising high speed gears, gearboxes, and water treatment solutions.

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Coal Stock with Thermal Power Plant Increased to 38.9 MT
Nov 29,2016

The coal stock with Thermal Power Plants (TPPs) has increased to 38.9 MT (equivalent to 27 days requirement) as on 31.03.2016 from 26.1 MT (equivalent to 18 days requirement as on 31 March 2015).

The subsidiary-wise production of coal and offtake by CIL for the last three years and current year are:

( in MT )

Com.2016-17
(APR-OCT) Prov.)
2015-162014-152013-14Prod.OfftakeProd.OfftakeProd.OfftakeProd.OfftakeECL19.58623.31640.20938.60740.00838.47036.05436.255BCCL19.49419.12635.86136.14134.51433.67232.61434.200CCL28.11930.36461.32459.58255.65255.33850.02252.122NCL42.97144.68580.22478.53272.48473.69368.63972.111WCL17.47819.44844.81542.31041.14741.24639.72939.945SECL71.11373.801137.934138.748128.275123.223124.261122.027 MCL74.68081.011137.901140.234121.379123.003110.439114.344NEC0.1270.4050.4860.3420.7790.7320.6640.577CIL273.568292.156538.754534.496494.238489.377462.422471.581

 State- wise coal production of CIL for the last three years and the current year is as below:

( in MT )

STATE2016-17
(APR-OCT)
(Prov.)
2015-162014-152013-14West Bengal11.69123.71821.65220.430Jharkhand55.508113.675108.52198.260Chhattisgarh65.334124.206115.192110.143Orissa74.680137.901121.379110.439Madhya Pradesh43.41287.89276.40373.590Maharashtra14.94038.18735.35434.175Uttar Pradesh7.87612.68914.95714.721Assam0.1270.4860.7790.664CIL273.568538.754494.238462.422

As regards import by CIL, under the provisions of new Fuel Supply Agreements in accordance to the Presidential Directives issued to CIL, option is given to Power Utility sector consumers to opt for supply of a part of the Annual Contracted Quantity (ACQ) from imported coal through CIL (viz. 15% of ACQ up to 2014-15, 13% of ACQ in 2015-16 and 5% of ACQ from 2016-17 onwards).

The scheme of supply of imported coal arranged by CIL to willing Thermal Power Plants (TPP) on cost plus basis was started only in 2014-15.  3 TPPs in 2014-15 and 3 TPPs in   2015-16 had opted for supply of imported coal arranged by CIL on cost plus basis.  Accordingly, CIL had imported 4.83 lakh tonnes of coal with sales value of Rs.333.31 Crores in 2014-15 and 3.57 lakh tonnes with sales value of Rs. 163.81 Crores in 2015-16.  For 2016-17, none of the TPPs have opted for supply of imported coal through CIL.

Till now, 83 coal mines have been allocated to private and public sector under the provisions of the Coal Mines (Special Provisions) Act 2015.  So far, a revenue of Rs. 2779.36 crores (approx.) has already been generated from these allocated

Lords Chloro Alkali to hold adjourned board meeting
Nov 29,2016

Lords Chloro Alkali announced that the meeting of the Board of Directors of the Company held on 28 November 2016, stands adjourned for want of quorum and now will be held on 29 November 2016.

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Sun Pharma slips in volatile trade
Nov 29,2016

The announcement was made after market hours yesterday, 28 November 2016.

Meanwhile, the S&P BSE Sensex was up 98.85 points or 0.38% at 26,449.02.

On BSE, so far 95,000 shares were traded in the counter as against average daily volume of 3.68 lakh shares in the past one quarter. The stock was volatile. The stock lost as much as 1.06% at the days low of Rs 706.20 so far during the day. The stock rose as much as 1.14% at the days high of Rs 721.95 so far during the day. The stock had hit a 52-week high of Rs 898 on 23 February 2016. The stock had hit a 52-week low of Rs 572.40 on 9 November 2016. The stock had outperformed the market over the past one month till 28 November 2016, sliding 4.03% compared with the Sensexs 5.7% fall. The scrip had, however, underperformed the market in past one quarter, declining 5.58% as against the Sensexs 5.15% fall.

The large-cap company has equity capital of Rs 240.68 crore. Face value per share is Rs 1.

A nonsteroidal anti-inflammatory drug (NSAID) indicated for the treatment of postoperative inflammation and prevention of ocular pain in patients undergoing cataract surgery, BromSite will be marketed by Sun Ophthalmics, the companys branded ophthalmic business solution. BromSite is the first branded product launched by the company in the US, following its focus on Specialty business.

On a consolidated basis, Sun Pharmaceutical Industries net profit rose 117.3% to Rs 2235.14 crore on 13.2% growth in net sales to Rs 7764.03 crore in Q2 September 2016 over Q2 September 2015.

Sun Pharmaceutical Industries is the worlds fifth largest specialty generic pharmaceutical company and Indias top pharmaceutical company.

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Mahanagar Gas firms up after good Q2 earnings
Nov 29,2016

The result was announced after market hours yesterday, 28 November 2016.

Meanwhile, the BSE Sensex was up 117.26 points, or 0.45%, to 26,467.43.

On BSE, so far 1.02 lakh shares were traded in the counter, compared with average daily volume of 75,985 shares in the past one quarter. The stock hit a high of Rs 827.90 and a low of Rs 798.50 so far during the day. The stock hit a record high of Rs 899 yesterday, 28 November 2016. The stock hit a record low of Rs 493.20 on 13 July 2016. The stock had outperformed the market over the past 30 days till 28 November 2016, rising 0.88% compared with the 5.66% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 20.39% as against Sensexs 7.03% decline.

Shares of Mahanagar Gas entered the stock market on 1 July 2016. The mid-cap company has equity capital of Rs 98.78 crore. Face value per share is Rs 10.

Mahanagar Gas (MGL) is one of Indias leading natural gas distribution companies. MGL is a joint venture between GAIL (India) and BGAPH (a subsidiary of Royal Dutch Shell Plc).

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Transpek Industry provides update buyback of shares
Nov 29,2016

Transpek Industry announced the closure of its share buyback offer on 28 November 2015. The Company has bought back 2,86,471 equity shares of Rs 10 each fully paid from 17 October 2016 (commencement of share buyback) to 28 November 2016 for an aggregate amount of Rs 13.50 crore.

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Timken India jumps after good Q2 results
Nov 29,2016

The result was announced after market hours yesterday, 28 November 2016.

Meanwhile, the BSE Sensex was up 132.30 points, or 0.50%, to 26,482.47.

On BSE, so far 9,770 shares were traded in the counter, compared with average daily volume of 11,687 shares in the past one quarter. The stock hit a high of Rs 584.70 and a low of Rs 558.80 so far during the day. The stock hit a 52-week high of Rs 640.90 on 21 October 2016. The stock hit a 52-week low of Rs 400.50 on 18 March 2016. The stock had outperformed the market over the past 30 days till 28 November 2016, falling 5.43% compared with the 5.66% decline in the Sensex. The scrip had also outperformed the market in past one quarter, falling 2.59% as against Sensexs 7.03% decline.

The mid-cap company has equity capital of Rs 68 crore. Face value per share is Rs 10.

Timken India engineers and manufactures bearings and mechanical power transmission components including gear drives, couplings, belts and chain.

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L&T Technology Services partners with CeNSE and IISc
Nov 29,2016

L&T Technology Services announced a partnership with the Centre for Nano Science and Engineering (CeNSE), Indian Institute of Science (IISc), Bangalore to jointly work towards innovations in the areasof Sensors and Energy Efficient Systems based on Nanotechnology. The agreement was signed between CeNSE, IISc and L&T Technology Services at the IISc campus in Bangalore.

L&T Technology Services will bring its domain expertise in the area of Industrial Products, Power Electronics, Intelligent Buildings and Smart Campuses, Medical Electronics, Testing and Measurements, Transportation and IIOT to create a platform for their accelerated digital journey. L&T Technology Services is also working closely with CeNSE, IISc in the field of robotics and other related futuristic technologies.

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Tata Steel edges higher in early trade
Nov 29,2016

The announcement was made after market hours yesterday, 28 November 2016.

Meanwhile, the S&P BSE Sensex was up 113.68 points or 0.43% at 26,463.85.

On BSE, so far 87,000 shares were traded in the counter as against average daily volume of 9.01 lakh shares in the past one quarter. The stock hit a high of Rs 417.35 and a low of Rs 414 so far during the day. The stock had hit a 52-week high of Rs 440.90 on 11 November 2016. The stock had hit a 52-week low of Rs 211.30 on 12 February 2016. The stock had outperformed the market over the past one month till 28 November 2016, gaining 0.66% compared with the Sensexs 5.7% fall. The scrip had also outperformed the market in past one quarter, advancing 10.07% as against the Sensexs 5.15% fall.

The large-cap company has equity capital of Rs 971.22 crore. Face value per share is Rs 10.

Tata Steel UK announced the signing of a letter of intent with Liberty House Group to enter into exclusive negotiations for the potential sale of its Speciality Steels business for an enterprise value of n++100 million subject to due diligence and corporate approvals. The letter of intent covers several South Yorkshire-based assets including the Rotherham electric arc steelworks, the steel purifying facility in Stocksbridge and a mill in Brinsworth as well as service centres in Bolton and Wednesbury, UK, and in Suzhou and Xian, China. Speciality Steels employs about 1,700 people making steels for the aerospace, automotive and the oil & gas industries.

Tata Steel UK has invested n++1.5 billion of capital over the last nine years. The companys boards consider the technical feasibility and economic returns of investments when taking decisions, as well as their affordability. The company is pursuing a transformation plan to create a sustainable future for its UK strip products business. The success of this plan is likely to influence decisions on future investments. In the current year, the company is pursuing n++85 million worth of capital investments covering a range of sustenance and improvement schemes.

On a consolidated basis, Tata Steel reported net loss of Rs 49.38 crore in Q2 September 2016, compared with net profit of Rs 5609.43 crore in Q2 September 2015. Net sales rose 0.1% to Rs 26291.86 crore in Q2 September 2016 over Q2 September 2015.

Tata Steel is Europes second largest steel producer, with steelmaking in the UK and Netherlands, and manufacturing plants across Europe. The combined Tata Steel group is one of the worlds largest steel producers.

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Board of Manvijay Development Company approves change in registered office
Nov 29,2016

Manvijay Development Company announced that the Board of Directors of the Company at its meeting held on 28 November 2016, had conducted the following business:

1. Change of Registered Office of the Company from Unit No. 509, 5th Fir, Stanford Plaza, Off New Link Road, Andheri (W), Mumbai - 400053.To: Office No. 701, 7th Floor, Platinum Arcade, J.S.S Road, Girgaum, Charni Road, Mumbai - 400004.

2. The Director Sangeeta Shrikant Karnik has been taken as vacated from the office due to her absence from all the meetings of the Board of Directors held during a period of twelve months with or without seeking leave of absence of the Board.

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Outcome of board meeting of Quess Corp
Nov 29,2016

Quess Corp announced that the Board of Directors of the Company at its meeting held on 28 November 2016 transacted the following -

Appointment of Sudershan Pallap as Company Secretary and Compliance Officer in place of N V S Pavan Kumar, with effect from 28 November 2016.

Approved subscription to Compulsorily Convertible Preference Shares of Manipal Integrated Services for Rs 200 crore.

Acquisition of facility management business and catering business of Manipal Integrated Services.

Acquisition of 74% equity in Inticore VJP Advance Systems subject to necessary approvals.

Approved issue of NCDs and other debt instruments of the Company aggregating up to Rs 150 crore, subject to necessary approvals.

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US stocks end in the red
Nov 29,2016

U.S. stocks closed lower on Monday, 28 November 2016 as investors found few reasons to keep pushing shares higher following an extended rally that took major indexes to a string of records and lifted major indexes for three straight weeks. Participants favored a cautious approach at the start of the week as volatility from the oil pit and concerns out of Europe kept risk appetite in check. This also encouraged some profit-taking activity as investors assessed whether the broader market has risen too far, too fast.

The Dow Jones Industrial Average fell 54.24 points, or 0.3%, to close at 19,097.90, with shares of Visa and American Express leading decliners. The Nasdaq Composite Index shed 30.11 points, or 0.6%, to close at 5,368.81. The S&P 500 dropped 11.63 points, or 0.5%, to finish at 2,201.72.

Utilities and telecom, which are viewed as defensive groups, were among the biggest outperformers of the day. The financial sector was the biggest decliner. The Dow and S&P both snapped four-day win streaks.

The benchmark index finished near its session low with seven sectors ending in negative territory. The financial, energy and health care spaces outpaced todays losses in the broader market while rate-sensitive utilities, telecom services and real estate gained amid declining market rates.

Wall Street has rallied throughout November, with the gains particularly strong since Donald Trumps unexpected presidential election victory. Investors expect that the president-elect will advocate for policiesn++such as infrastructure spending, massive corporate tax cuts and environmental and financial deregulationn++that could spur economic growth.

Crude futures jumped 2.2% to settle at $47.08 a barrel on Monday, following a 4% slide on Friday that came after Saudi Arabia refused to attend a Monday meeting with Russia about a possible output cut.

Gold futures for February settled up 1.1% at $1,193.80 as a key dollar index declined 0.2%.

Developments in Italy were also in focus as investors eyed a downturn in the countrys banking names. Banca Monte dei Paschi di Siena tumbled 13.8% after the bank initiated a debt-for-equity swap and stated that it could face up to EUR8 billion in fines. The name also saw pressure ahead of the countrys constitutional referendum. Italian citizens will vote on December 4 on whether the powers of the Senate should be reduced. Prime Minister Matteo Renzi stated that if the referendum should fail, he will resign.

Treasuries ended on a higher note as longer-dated issues outperformed. The yield on the 2-yr note finished down two basis points while the yield on the benchmark 10-yr note fell five basis points to 2.31%.

Todays trading volume was below the recent average of 1.0 billion as fewer than 847 million shares changed hands at the NYSE floor.

There was no economic data of note released on Monday.

Tuesdays economic data will include the second estimate of Q3 GDP (consensus 3.0%) and the Q3 GDP Deflator (consensus 1.5%), which will each cross the wires at 8:30 ET. Separately, the Case-Shiller 20-city Index for September (consensus 5.2%) and November Consumer Confidence (consensus 100.0) will be released at 9:00 ET and 10:00 ET, respectively.

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Pfizer provides business update
Nov 29,2016

Pfizer announced that the Company has undertaken a comprehensive review of its respiratory offerings in order to better cover a broader range of indications through an expanded product portfolio. As a result of this review, the Company will launch additional products while it may also discontinue the manufacture of certain SKUs where needed.

The Company will be launching a series of products as line extensions under the Corex brand name, starting with the first launch in December, 2016 and subsequent launches over the next year. The Company has also decided to discontinue the manufacturing of the current Corex Cough Syrup formulation (Codeine Phosphate 10mg + Chlorpheniramine Maleate 4mg). Pfizer stands by the safety and efficacy of its current Corex Cough Syrup formulation that has been duly approved by Central and State regulators. As with this formulation, all additional line extensions will be introduced with all due regulatory approvals in place.

The Company remains committed to providing a more comprehensive set of solutions in respiratory indications, while ensuring minimal impact towards patients resulting from the discontinuation of manufacturing of the current Corex Cough Syrup formulation.

It may be noted that Corex Cough Syrup recorded a sale of Rs.244.48 crores for the financial year ended 31 March 2016.

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Asian Oilfield Services to hold EGM
Nov 29,2016

Asian Oilfield Services announced that the Extra Ordinary General Meeting (EGM) of the Company will be held on 23 December 2016.

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