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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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Tata Power gains after fund raising by subsidiary
Jan 31,2017

The announcement was made after market hours yesterday, 30 January 2017.

Meanwhile, the S&P BSE Sensex was down 105.26 points or 0.38% at 27,744.30.

On the BSE, 3.68 lakh shares were traded on the counter so far as against the average daily volumes of 3.64 lakh shares in the past one quarter. The stock had hit a high of Rs 82.70 and a low of Rs 80.40 so far during the day. The stock had hit a 52-week high of Rs 84.45 on 24 October 2016 and a 52-week low of Rs 55 on 12 February 2016.

The large-cap company has equity capital of Rs 270.48 crore. Face value per share is Re 1.

Tata Power Company announced that Welspun Renewables Energy Private (WREPL), a wholly-owned step down subsidiary of the company which has been recently acquired, has successfully issued and allotted guaranteed, redeemable, rated, taxable, non-cumulative, non-convertible debentures (NCDs) of face value of Rs 10 lakh each, aggregating to Rs 1200 crore on a private placement basis.

The proceeds of the NCDs will be primarily used to prepay existing higher cost debt of WREPL and its subsidiaries. The guarantee agreement has been entered to guarantee payment obligation of WREPL pursuant to the NCDs.

The guarantee is capped at Rs 1320 crore and will fall off once the NCDs are fully repaid. The final maturity date is 31 January 2022. This will create a contingent liability not exceeding Rs 1320 crore for the company.

On a consolidated basis, Tata Power reported net profit of Rs 336.24 crore in Q2 September 2016, as against net loss of Rs 95.87 crore in Q2 September 2015. Net sales declined 5.6% to Rs 7190.54 crore in Q2 September 2016 over Q2 September 2015.

Tata Power is Indias largest integrated power company with a growing international presence.

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Board of Pennar Industries to consider December quarter results
Jan 31,2017

Pennar Industries announced that a Meeting of the Board of Directors of the Company is scheduled to be held on 09 February 2017, inter alia;

- To consider, approve and take on record the Un-Audited Financial Results (Standalone and consolidated) for the Quarter ended 31 December 2016.

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Board of Aishwarya Technologies & Telecom to consider December quarter results
Jan 31,2017

Aishwarya Technologies & Telecom announced that the meeting of the Board of Directors of the Company will be held on 14 February 2017, inter alia, to consider the following:

1. Un - Audited financial results for the quarter ended 31 December 2016.

2. Limited Review Report for the quarter ended 31 December 2016.

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Surana Corporation to consider Q3 and 9M results
Jan 31,2017

Surana Corporation announced that a meeting of the Board of Directors of the Company is scheduled to be held on 08 February 2017, inter alia, to consider and approve the Unaudited financial results for the 3rd Quarter and Nine Months ended 31 December 2016.

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Board of Satia Industries to consider December quarter results and scheme of amalgamation
Jan 31,2017

Satia Industries announced that the Board Meeting of the Company is scheduled to be held on 07 February 2017, inter alia, to consider and take on record the un-Audited Financial Results of the Company for the Quarter ended 31 December 2016 and to consider the scheme of amalgamation of T.C.Spinners with Satia Industries.

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Board of Ram Ratna Wires to consider December quarter results
Jan 31,2017

Ram Ratna Wires announced that a meeting of the Board of Directors of the Company will be held on 10 February 2017, inter alia, to consider, approve and take on record the Unaudited Standalone Financial Results for the quarter ended 31 December 2016.

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Dalmia Bharat Sugar hits 52-week high after strong Q3 earnings
Jan 31,2017

The result was announced after market hours yesterday, 30 January 2017.

Meanwhile, the S&P BSE Sensex was down 139.38 points, or 0.5%, to 27,710.18.

On the BSE, 69,000 shares were traded on the counter so far as against the average daily volumes of 56,233 shares in the past one quarter. The stock had hit a high of Rs 202.20 so far during the day, which is also its 52-week high. The stock hit a low of Rs 195 so far during the day.

The stock had hit a 52-week low of Rs 55.50 on 12 February 2016. The stock had outperformed the market over the past one month till 30 January 2017, advancing 41.75% compared with the Sensexs 4.59% rise. The scrip had also outperformed the market over the past one quarter advancing 60.96% as against the Sensexs 0.29% fall.

The small-cap company has equity capital of Rs 16.19 crore. Face value per share is Rs 2.

Dalmia Bharat Sugar and Industries earnings before interest, tax, depreciation and amortization (EBITDA) increased by 165% to Rs 112 crore in Q3 December 2016 over Q3 December 2015. EBITDA margin expanded to 23% in Q3 December 2016 from 15% in Q3 December 2015.

In its outlook on sugar sector, Dalmia Bharat Sugar and Industries said that the short-to-medium term outlook looks promising due to firm sugar prices with lower domestic sugar production expected in 2016-2017. However, for long term interests of the industry, it is imperative that cane prices get linked with sugar prices all across the country.

Dalmia Bharat Sugar and Industries is one of the leading producers of sugar in Uttar Pradesh. The company has three integrated plants with total cane crushing capacity of 22500 TCD (tons crushed per day) and sugar production capacity of 3 lakh MT per annum.

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Joonktolle Tea & Industries to consider December quarter results
Jan 31,2017

Joonktolle Tea & Industries announced a meeting of the Board of Directors of the Company will be held on 11 February 2017, to consider and take on record, amongst other business the Unaudited Financial Results for the quarter ended 31 December 2016.

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Sicagen India drops after weak Q3 results
Jan 31,2017

The result was announced after market hours yesterday, 30 January 2017.

Meanwhile, the S&P BSE Sensex was down 124.16 points or 0.45% at 27,725.40.

On the BSE, 9,450 shares were traded on the counter so far as against the average daily volumes of 25,784 shares in the past one quarter. The stock had hit a high of Rs 26.30 and a low of Rs 25.30 so far during the day.

The stock had hit a 52-week high of Rs 30.70 on 1 November 2016 and a 52-week low of Rs 14.30 on 12 February 2016. The stock had outperformed the market over the past one month till 30 January 2017, advancing 9.15% compared with the Sensexs 4.59% rise. The scrip had, however, underperformed the market over the past one quarter, sliding 5.29% as against the Sensexs 0.29% fall.

The small-cap company has equity capital of Rs 39.57 crore. Face value per share is Rs 10.

Sicagen Indias consolidated net sales rose 30.3% to Rs 189.85 crore in Q3 December 2016 over Q3 December 2015.

Sicagen India is engaged in trading of building materials.

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Fitch: Global Ratings Outlook Weaker Than Last Year
Jan 31,2017

Global rating outlooks are more negative than a year ago across most rating sectors, Fitch Ratings says in its latest global Credit Outlook report.

The greatest challenges are undoubtedly faced by emerging market issuers in all sectors, but this is a global trend - the outlook bias is also negative for developed-market entities across the majority of sectors, said Monica Insoll, Managing Director, in Fitchs Credit Market Research team.

Our sovereign ratings have the greatest share of Negative Outlooks on a net basis, at 21%. This points to the likelihood of a third consecutive year in which downgrades outnumber upgrades in this sector, possibly by a wide margin. Pressures include a strengthening US dollar, global trade weakness and policy uncertainty. Many commodity export-dependent countries in the Middle East and Africa also still struggle to adjust to the dramatic decline in prices, despite the recent recovery.

The negative outlook bias is 10% for corporates and 11% for banks. The industries facing the greatest challenges include natural resources and traditional retail. The expected boost to US economic growth would be positive for corporates but the increased likelihood of rising interest rates is not.

In contrast, financial institutions stand ready to benefit from rising rates, which should allow a widening of their net interest margin. Banks in Europe face still slow economic growth and high NPLs in some countries (notably Italy and Portugal). Low rates remain a challenge for earnings, but do limit impairment charges.

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Natco Pharma provides update US District Court decision on patent claims related to Copaxone 40mg/mL
Jan 31,2017

Natco Pharma announced that the United States District Court for the District of Delaware issued a decision finding all asserted claims of four orange book listed patents relating to Copaxone 40mg/mL invalid on obviousness.

On 02 December 2017, the US Patent and Trademark Offices US Patent Trail and Appeal Board (PTAB) reaffirmed a prior decision that three of these patents are unpatentable in its inter partes review proceeding initiated by Natcos marketing partner Mylan. Mylan also challenged the fourth patent in a IPR proceeding. The PTAB is expected to issue its institution rulling on the fourth patent IPR by 16 May 2017.

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Amal discontinues submission of compliances with Ahmedabad Stock Exchange
Jan 31,2017

Amal announced that pursuant to the letter received from Ahmedabad Stock Exchange dated 17 January 2017 stating undergoing its exit policy and so requested not to submit any compliance documents with them.

Accordingly, the Company is discontinuing submission of compliances with the Ahmedabad Stock Exchange.

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Shriram City Union Finance drops after reporting weak Q3 results
Jan 31,2017

The result was announced after market hours yesterday, 30 January 2017.

Meanwhile, the S&P BSE Sensex was down 94.85 points, or 0.33%, to 27,756.62.

On the BSE, 337 shares were traded in the counter so far, compared with an average volume of 10,964 shares in the past one quarter. The stock had hit a high of Rs 2,034 and low of Rs 1,926.40 so far during the day. The stock had hit a low of Rs 2,340 so far during the day. The stock had hit a 52-week low of Rs 1,395.70 on 11 February 2016. The stock had hit a record high of Rs 2,650 on 30 October 2016.

The large-cap company has an equity capital of Rs 65.94 crore. Face value per share is Rs 10.

Shriram City Union Finance said that as it largely caters to the self-employed segments, which transact primarily in cash, it experienced near term delays in payment due to the difficulties faced by these customers in converting their holdings within the stipulated time after the government banned higher denomination notes in November 2016.

Net interest margin (NIM) stood at 13.88% in Q3 December 2016 compared with 13.94% in Q3 December 2015. On absolute basis, the companys gross non-performing assets (NPAs) stood at Rs 993 crore as on 31 December 2016, compared with Rs 1034 crore as on 30 September 2016 and Rs 632 crore as on 31 December 2015.

The ratio of gross NPAs to gross advances stood at 4.49% as on 31 December 2016 as against 4.96% as on 30 September 2016 and 3.39% as on 31 December 2015. The ratio of net NPAs to net advances stood at 0.57% as on 31 December 2016 as against 1.35% as on 30 September 2016 and 0.66% as on 31 December 2015.

Shriram City Union Finance is Indias premier financial services company specializing in retail finance. It has a comprehensive range of offerings comprising finance for two wheelers and three wheelers, four wheeler finance (both new and pre-owned passenger and commercial vehicles), personal loans, small business loans, and loan against gold.

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NTPC fixes record date for interim dividend
Jan 31,2017

NTPC has fixed 16 February 2017 as the Record Date for the purpose of Payment of Interim Dividend, if declared.

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V-Mart Retail jumps after strong Q3 numbers
Jan 31,2017

The result was announced after market hours yesterday, 30 January 2017.

Meanwhile, the S&P BSE Sensex was down 77.46 points or 0.28% at 27,772.10.

On the BSE, 68,000 shares were traded on the counter so far as against the average daily volumes of 772 shares in the past one quarter. The stock had hit a high of Rs 564.90 and a low of Rs 536.30 so far during the day.

The stock had hit a 52-week high of Rs 608 on 1 February 2016 and a 52-week low of Rs 425 on 24 June 2016. The stock had outperformed the market over the past one month till 30 January 2017, advancing 9.68% compared with the Sensexs 4.59% rise. The scrip had, however, underperformed the market over the past one quarter, sliding 4.76% as against the Sensexs 0.29% fall.

The small-cap company has equity capital of Rs 18.07 crore. Face value per share is Rs 10.

Lalit Agarwal, CMD, V-Mart Retail, said that despite the temporary slowdown and lower conversion initially witnessed due to the demonetisation scheme, the company adopted means like SMART ATM drive at its stores to improve sales. Further, the companys better supply chain management also increased the sales during the period at a time when almost all the industries were experiencing a massive downfall in demand, Agarwal said.

V-Mart Retail is a hypermarket format retail chain based in New Delhi. It is a multi-brand family retail store offering apparels, general merchandise and kirana.

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