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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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3i Infotech reports standalone net profit of Rs 5.72 crore in the March 2017 quarter
May 02,2017

Net profit of 3i Infotech reported to Rs 5.72 crore in the quarter ended March 2017 as against net loss of Rs 314.71 crore during the previous quarter ended March 2016. Sales declined 24.34% to Rs 66.99 crore in the quarter ended March 2017 as against Rs 88.54 crore during the previous quarter ended March 2016.

For the full year,net profit reported to Rs 92.26 crore in the year ended March 2017 as against net loss of Rs 539.70 crore during the previous year ended March 2016. Sales declined 19.13% to Rs 279.07 crore in the year ended March 2017 as against Rs 345.09 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales66.9988.54 -24 279.07345.09 -19 OPM %14.2454.28 -42.9518.68 - PBDT6.0661.27 -90 98.40-14.92 LP PBT4.356.27 -31 91.09-225.54 LP NP5.72-314.71 LP 92.26-539.70 LP

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Welcure Drugs & Pharmaceuticals standalone net profit declines 87.50% in the March 2017 quarter
May 02,2017

Net profit of Welcure Drugs & Pharmaceuticals declined 87.50% to Rs 0.01 crore in the quarter ended March 2017 as against Rs 0.08 crore during the previous quarter ended March 2016. There were no Sales reported in the quarter ended March 2017 and during the previous quarter ended March 2016.

For the full year,net profit declined 66.67% to Rs 0.03 crore in the year ended March 2017 as against Rs 0.09 crore during the previous year ended March 2016. There were no Sales reported in the year ended March 2017 and during the previous year ended March 2016.

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Devise back up minimum income schemes for those losing jobs due to automation: ASSOCHAM-PwC Paper
May 02,2017

With the Indian IT and other industries facing some of the daunting challenges from protectionism in the US and Artificial Intelligence (AI), an ASSOCHAM-PwC study has made out a strong case for government -industry schemes which ensure a minimum income to those displaced , along with basic health facilities for the families in stress.

It said there are concerns in a number of industries related to loss of jobs, arising out AI and robotics and the solution lies in facing the issue upfront and skilling up the country`s human resource.

n++In light of technology advances, certain sectors are expected to experience shrinkage of employment demand as robotic systems and algorithms take up several tasks. It can be expected that IT, manufacturing, agriculture, forestry etc will experience such a demand shift,n++ the study noted.

Quoting Oxford University researchers Carl Frety and Michael Osborne, based on 702 occupational groupings, workers in tele-marketing, hand sewers, mathematical technicians, insurance underwriters, watch repairers, cargo agents, tax preparers have a very high probability of being replaced by automation.

The ASSOCHAM-PwC Paper suggested that even though the churn arising out of automation would throw new opportunities, certain basic cushion must be given to those who may get affected by the AI and robotics and other automation technologies.

The paper made a strong case for universal benefits outside employment structures. n++If a large number of people end up unemployed for extended periods of time, there needs to be a way to provide healthcare, disability and pension benefits outside employmentn++.

It also sought a minimum income to sustain households. n++In the event of continuous unemployment or under-employment, government schemes to provide a minimum level of income to each citizen to guarantee basic needs are necessary to keep them out of destitution. Proposals must be structured in a way so as to maintain a balance between benefits and incentives for engagement - for example by involving the unemployed in social and community initiativesn++.

The ASSOCHAM-PwC Paper said the traditional academic curriculum is not well equipped to cater to technological advancements. n++The sequential system of education and work is outdated in an economic environment that is heavy on automation and deskilling of jobs and where skills gain and lose value within a few years. What is required is a continuous skill improvement system that does not depend on the sequence of the skills imparted to young mindsn++.

It sought creation of separate funds by the companies for skill re-training of employees. n++Companies can contribute a set amount to an individual`s fund which can then be transferred as the individual switches jobs. The goal of such an initiative will be o incentivize lifelong education and up-skillingn++.

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Bharat Heavy Electricals announces cessation of director
May 02,2017

Bharat Heavy Electricals announced that Harinder Hira on completion of her tenure on 01 May 2017 has ceased to be Part-time Non-official (Independent) Director on the Board of BHEL.

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Escorts in top gear after declaring strong tractor sales in April
May 02,2017

The announcement was made on Monday, 1 May 2017, when domestic stock markets remained closed, for a local holiday.

Meanwhile, the BSE Sensex was down 59.02 points, or 0.2%, to 29,859.38. The BSE Mid-Cap index was down 11.15 points, or 0.08%, to 14,787.30

On the BSE, 2.44 lakh shares were traded on the counter so far as against the average daily volumes of 2.73 lakh shares in the past one quarter. The stock hit a high of Rs 569.70 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 553.35 so far during the day. The stock hit a 52-week low of Rs 163 on 5 May 2016.

The mid-cap company has equity capital of Rs 122.58 crore. Face value per share is Rs 10.

Escorts said agri machinery segment (EAM) reported 20% growth in total tractor sales to 4,899 units in April 2017 over April 2016. Domestic tractor sales rose 18% to 4,760 units in April 2017 over April 2016. Exports rose 266% to 139 units in April 2017 over April 2016.

Net profit of Escorts rose 11.21% to Rs 22.71 crore on 22.8% rise in net sales to Rs 1089.91 crore in Q3 December 2016 over Q3 December 2015.

Escorts is one of Indias leading engineering conglomerates. The company has diversified business in to three different segments: Escorts Agri Machinery, Escorts Construction Equipment and Railway Equipment Division.

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EESL collaborates with NITI Aayog for energy efficiency
May 02,2017

Energy Efficiency Services Limited (EESL) collaborated with NITI Aayog to retrofit LED lights, energy efficient ACs, Ceiling fans, Energy saver ACs, energy efficient Water Pumps and also installed chiller system in the NITI Aayog premises. This has resulted in an annual energy savings of 11.4 lakh kVAh, an annual monetary savings of Rs 1.02 crore and led to an annual CO2 reduction of 966 tons.

The total cost of the project is Rs 2.67 crore. EESL has retrofitted 3061 LED lighting, 591 energy efficient fans, 415 energy efficient air conditioners and installed 2 energy efficient chillers. Additionally, other energy efficient appliances such as energy efficient water pumps, APFC control and CEMS (Central Energy Management Systems), which tracks the buildings energy consumption has also been installed. With these interventions, BEE has certified NITI Aayog building with 5-star rating with Energy Performance Index of 72 (kWh/Sqm/annum).

NITI Aayog initiated the energy efficiency interventions in March 2014 in consultation with EESL. EESL analysed the connected load of NITI Aayog building and based on the highest components of energy utilization, target areas for interventions were identified. Additionally, monitoring and verification of the interventions was also carried out through physical verification of the replaced energy systems with wattage and operating hours by EESL.

The retrofitting and installation is executed in two phases with different models of implementation process.

Phase-I was done through PMC (Project Management Consultancy) mode in which entire capital cost was paid upfront by NITI Aayog and entire savings arising out of lower electricity bills accrue to NITI Aayog.

The chiller systems which is already installed in NITI Aayog under Phase-II, where EESL has implemented the project in ESCO shared saving model through collaboration with CPWD (Central Public Works Department). Under ESCO model, the upfront capital cost is borne by EESL and the resultant savings from projects are been used to repay for EESL investments on deemed basis.

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18 lakh Sample Survey reveals cities turned much cleaner in last one year
May 02,2017

The largest ever Sample Survey of over 18 lakh citizens has revealed that sanitation in cities and towns of the country has substantially improved during the last one year, confirming that the Swachh Bharat buzz is making a difference on ground with people clearly perceiving a change for the better.

Results of the Swachh Survekshan-2017 have confirmed that the efforts being made under Swachh Bharat Mission have made a positive impact on cleanliness situation in urban areas.

In the Survey commissioned by the Ministry of Urban Development during January - February this year, over 18 lakh citizens responded to a set of six questions giving their perception of sanitation situation in cities and towns. Besides, 421 assessors of Quality Council of India have physically inspected 17,500 locations in 434 cities and towns. 2,680 residential locations, 2,680 commercial locations and 2,582 commercial and public toilets were inspected in these cities and towns for on the spot third party assessment of ground level assessment of sanitation.

Minister of Urban Development Shri M.Venkaiah Naidu who discussed the findings of the Survey with the ministry officials and the surveyors in detail tweeted today saying : n++Survey results are very encouraging. Revealed major improvement in cleanliness in last one year. Swachh Bharat buzz is reflecting on ground. Swachh Rankings of 434 cities and towns will be announced on Thursday this week. More than rankings, citizens perception and field reports are more exciting.n++

A total of over 37 lakh citizens responded with their feedback under the two month long Survey. After a careful verification of the responses and deletion of multiple responses, Quality Council of India that conducted the Survey have taken in to consideration over 18 lakh responses. The findings of the Swachh Survekshan-2017 are:

-Over 83% of respondents reported their areas much cleaner than last year;

-82% reported improvement in sanitation infrastructure and services like increased availability of litter bins and door-to-door collection of solid waste;

-80% respondents proclaimed much better access to community and public toilets;

-75% residential areas in 404 cities and towns found substantially clean;

-Railway Station surroundings entirely clean in 185 cities;

-75% of Community and Public Toilets found ventilated, well lit and had water supply;

-Door-to-Door collection of waste being done in 80% of wards in 297 cities and towns;

-Sweeping being done twice in 75% of notified commercial areas in 226 cities and towns;

-GPS and RFID based tracking of vehicles transporting solid waste is being done in 166 cities and towns;

-Sanitation staff vacancy reduced to less than 10% in 227 cities and towns; and

-ICT based monitoring of attendance is being done in 158 cities.

The Survey brought out the need for making the Community and Public Toilets more gender, child and differently abled friendly.

The Questionnaire used for citizen feedback had the following components:

1. Are you aware of Swachh Survekshan-2017 and would like to respond on sanitation in your city/town?

Options: Yes/No

2.Do you find your area cleaner than last year ?

Options: Yes, very clean; Better than last year; Status quo; Worse than last year

3. Has the availability of dust/litter bins in market places improved?

Options: Yes, very much; Slightly improved; Not much change; Worse than last year.

4. How is the door-to-door collection of solid waste from your house?

Options: Much better; Slightly better; No change; Worse than last year

5. Has the number of toilets/urinals increased ?

Options: Yes, very much; Slightly improved; Not much change; Not at all available

6. Has the maintenance of Community and Public Toilets improved?

Options: Yes, much better; Slightly better; Not much improvement; No change; Worse than last Year

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Rushil Decor hits record high
May 02,2017

The result was announced on Saturday, 29 April 2017. Domestic stock markets remained closed on Monday, 1 May 2017, for a local holiday.

Meanwhile, the S&P BSE Sensex was down 78.58 points, or 0.26% at 29,839.82. The S&P BSE Small-cap index was down 21.45 points, 0.14% at 15,351.06.

On the BSE, 28,000 shares were traded on the counter so far as against the average daily volumes of 51,019 shares in the past one quarter. The stock had hit a high of Rs 747.90 so far during the day, which is also its record high. The stock hit a low of Rs 703.65 so far during the day.

The stock had hit a 52-week low of Rs 281 on 29 April 2016. The stock had outperformed the market over the past one month till 28 April 2017, advancing 11.73% compared with the Sensexs 1.73% rise. The scrip had, however, underperformed the market over the past one quarter advancing 2.63% as against the Sensexs 7.3% rise.

The small-cap company has equity capital of Rs 14.40 crore. Face value per share is Rs 10.

Rushil Decor is the flagship company of the Rushil group. The company offers comprehensive engineered interior products including decorative laminate sheets and plain particle boards.

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Hero MotoCorp accelerates after price hike
May 02,2017

The announcement was made on Monday, 1 May 2017, when domestic stock markets remained closed, for a local holiday.

Meanwhile, the S&P BSE Sensex was down 86.84 points, or 0.29%, to 29,831.56

On the BSE, 7,735 shares were traded on the counter so far as against the average daily volumes of 43,544 shares in the past one quarter. The stock had hit a high of Rs 3,382 and a low of Rs 3,303.55 so far during the day. The stock had hit a record high of Rs 3,739.90 on 8 September 2016 and a 52-week low of Rs 2,829 on 6 May 2016.

The large-cap company has an equity capital of Rs 39.94 crore. Face value per share is Rs 2.

Hero MotoCorp announced price hike from Rs 500 to Rs 2,200 across different models to partially offset the commodity cost increases, effective from 1 May 2017.

Hero MotoCorps total two-wheeler sales declined 3.5% to 5.91 lakh units in April 2017 over April 2016. The two-wheeler industry witnessed heavy retail off-take towards the end of March 2017 in view of the transition from BS III to BS IV vehicles. With the ongoing marriage season, the company expects to maintain the trend of robust retail sales in May 2017.

Hero MotoCorps net profit fell 2.7% to Rs 772.05 crore on 12.1% decline in net sales to Rs 6245.90 crore in Q3 December 2016 over Q3 December 2015.

Hero MotoCorp is the worlds largest two-wheeler manufacturer in terms of production capacity. The company has six manufacturing plants, including five in India including Dharuhera, Gurgaon, Haridwar, Neemrana and Halol and one in Colombia.

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Mixed finish or US stocks
May 02,2017

US stock market opened the week on a positive note on Monday, 01 May 2017 with the top-weighted technology and financials sectors pacing the advance. Investors received several headlines from the nations capital on Monday. The first was news of an agreement between congressional leaders that, if approved, will keep the government funded through September. The deal, which puts fears of a government shutdown on hold, sent the S&P 500 into positive territory at the opening bell.

The Dow Jones Industrial Average which dipped in and out of negative territory, finished down 27.05 points, or 0.1%, at 20,913.46. The S&P 500 index closed up 4.13 points, or 0.2%, at 2,388.33. The Nasdaq Composite Index finished up 44 points, or 0.7%, to a record 6,091.60, after touching an all-time intraday high of 6,100.73.

The tech-heavy Nasdaq closed at a record Monday, with shares of Apple hitting a new high, while the Dow industrials slipped lower as investors digested a raft of economic reports and looked ahead to the start of the Federal Reserves policy meeting on Tuesday.

Only five of the 11 main sectors finishing higher. Tech shares led the charge, finishing up 0.9%, followed by a 0.6% gain in real-estate stocks. Telecoms were the largest decliners, down 0.8%, while utilities shed 0.7%.

However, the next headline, which was a statement from President Trump, resulted in a small sell-off in the early-afternoon session. Mr. Trump said that he may favor breaking up the nations biggest banks, which briefly sent the financial sector lower. However, stocks recovered shortly thereafter as the headline provided little new information; President Trump has mentioned reinstating Glass-Steagall prior to todays announcement.

Dow was pressured by a 1.3% decline in Boeing and a 1.2% decline in shares of Home Depot . Apple shares closed up 2.1% at a record $146.60 after reaching an intraday record of $147.20. The stock is a major component in the three major U.S. stock indexes. The company reports quarterly results Tuesday afternoon.

Earlier, the blue-chip benchmark briefly slipped into negative territory following comments by President Donald Trump that he was looking at breaking up big banks, with a retreat in financials contributing to much of that dip. Over the weekend, Congress cut a deal to fund the government through Sept. 30, which includes an increase in military spending.

The Atlanta Fed tracker of GDP points to a strong rebound for the second quarter after the slowest quarter in three years. The GDPN ow model forecasts 4.3% growth. That would be the strongest growth since the third quarter of 2014. Strong economic growth can make the Federal Reserve tighten monetary policy and increase the fed-funds rate. Higher rates can boost the dollar and make gold less competitive against interest-bearing investments.

Among other economic data on Monday, the personal-consumption-expenditures, or PCE index, fell 0.2% in March to mark the first decline in more than a year. U.S. manufacturing growth cooled off a bit in April, with the ISM manufacturing index slipping to 54.8% from 57.2%.

Other U.S. reports this week include a policy statement from the Fed on Wednesday that could influence assumptions about the path for interest rates and metals which dont offer a yield.

Investors will be looking at important labor-market report, with April jobs due Friday. Market is forecasting that 190,000 jobs were created in April, with the unemployment rate holding steady at 4.5%.

On Monday, the dollar, one of the biggest drivers of dollar-pegged commodities, as measured by the ICE U.S. Dollar Index was trading nearly flat at 99.07.

Crude oil prices logged their lowest finish in about five weeks Monday, 01 May 2017 on concerns that rising U.S. crude output would offset efforts by OPEC and other large crude producers to cap a nagging global oil glut. The price drop extends a downbeat tone in crude trade into May after futures contracts registered a second straight monthly decline.

June West Texas Intermediate crude fell 49 cents, or 1%, to settle at $48.84 a barrel on the New York Mercantile Exchange. WTI prices lost about 2.5% in April. July Brent on Londons ICE Futures exchange declined by 53 cents, or 1%, to $51.52 a barrel.

Bullion metals ended sharply lower at Comex on Monday, 01 May 2017. Gold futures settled sharply lower with the yellow metal booking its lowest finish in three weeks, following U.S. data implying a strong rebound in second-quarter economic growth.

June gold dropped $12.80, or 1%, to settle at $1,255.50 an ouncen++the lowest for most-active contract since 10 April 2017. The yellow metal rose over the past two sessions, but saw a weekly loss of 1.6%, as geopolitical risks, particularly in Europe, appear to have cooled somewhat, undercutting haven demand for commodities like gold that thrive in uncertainty. Silver for July delivery declined 42 cents, or 2.4%, to $16.842 an ouncen++the lowest since mid-January.

In the bond market, Treasuries settled lower across the board, however, selling pressure was not distributed equally across the yield curve. The 10-yr yield finished four basis points higher while the 2-yr yield added only two basis points.

Todays trading volume was relatively light. Market were closed across Europe and most of Asia in observance of Labor Day. 874.2 million shares changed hands at the NYSE floor.

Tomorrow, investors will not receive any economic reports, but April auto and truck sales will be released throughout the day.

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Bullions turn pale
May 02,2017

Bullion metals ended sharply lower at Comex on Monday, 01 May 2017. Gold futures settled sharply lower with the yellow metal booking its lowest finish in three weeks, following U.S. data implying a strong rebound in second-quarter economic growth.

June gold dropped $12.80, or 1%, to settle at $1,255.50 an ouncen++the lowest for most-active contract since 10 April 2017. The yellow metal rose over the past two sessions, but saw a weekly loss of 1.6%, as geopolitical risks, particularly in Europe, appear to have cooled somewhat, undercutting haven demand for commodities like gold that thrive in uncertainty.

Silver for July delivery declined 42 cents, or 2.4%, to $16.842 an ouncen++the lowest since mid-January.

The Atlanta Fed tracker of GDP points to a strong rebound for the second quarter after the slowest quarter in three years. The GDPN ow model forecasts 4.3% growth. That would be the strongest growth since the third quarter of 2014. Strong economic growth can make the Federal Reserve tighten monetary policy and increase the fed-funds rate. Higher rates can boost the dollar and make gold less competitive against interest-bearing investments.

Among other economic data on Monday, the personal-consumption-expenditures, or PCE index, fell 0.2% in March to mark the first decline in more than a year. U.S. manufacturing growth cooled off a bit in April, with the ISM manufacturing index slipping to 54.8% from 57.2%.

Other U.S. reports this week include a policy statement from the Fed on Wednesday that could influence assumptions about the path for interest rates and metals which dont offer a yield.

Investors will be looking at important labor-market report, with April jobs due Friday. Market is forecasting that 190,000 jobs were created in April, with the unemployment rate holding steady at 4.5%.

On Monday, the dollar, one of the biggest drivers of dollar-pegged commodities, as measured by the ICE U.S. Dollar Index was trading nearly flat at 99.07.

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Tata Motors drops on weak sales in April
May 02,2017

The announcement was made yesterday, 1 May 2017, when markets were shut due to holiday.

Meanwhile, the BSE Sensex was down 20.86 points, or 0.08%, to 29,893.88.

The stock had risen 3.95% in five sessions to settle at Rs 457.80 on 28 April 2017, from a close of Rs 440.40 on 21 April 2017.

On the BSE, 1.26 lakh shares were traded in the counter so far, compared with average daily volumes of 5.91 lakh shares in the past one quarter. The stock had hit a high of Rs 457.80 and a low of Rs 451.10 so far during the day. The stock had hit a 52-week high of Rs 598.60 on 7 September 2016. The stock had hit a 52-week low of Rs 376.05 on 11 May 2016.

The stock had underperformed the market over the past one month till 28 April 2017, falling 3.09% compared with Sensexs 1.73% gains. The scrip had also underperformed the market in past one quarter, dropping 15.9% as against Sensexs 7.3% rise.

The large-cap company has equity capital of Rs 577.47 crore. Face value per share is Rs 2.

Tata Motors domestic sales of Tata commercial and passenger vehicles fell 19% at 28,844 units in April 2017 over April 2016.

Tata Motors passenger vehicles, in the domestic market, continued its growth momentum, rising 23% at 12,827 units in April 2017 over April 2016, due to an encouraging response for its recently launched lifestyle utility vehicles (UV), Tata HEXA and its latest styleback, the Tata TIGOR. The Tata TIAGO continues to maintain good order pipeline.

The commercial vehicles sales fell 36% at 16,017 units in April 2017 over April 2016. This is an unusual decline, in exceptional circumstances.

Tata Motors commercial vehicles were affected by the Supreme Court judgement announced on 29 March 2017, with the ban on BS III sales, leading to the need for a higher quantity of BS IV stock for April sales.

The higher demand at short notice was not met in production, as vendors struggled to meet with the higher demand, especially in the medium & heavy commercial vehicles (MHCV) segments. Moreover, after the strong pre-buying of BS III vehicles in March, and the price increase of BS IV vehicles-especially in the MHCV and buses at 8-10%, demand for BS IV vehicles was also weak.

Tata Motors expects production, wholesales and retails to pick up in May and June, it added.

Meanwhile, public sector oil marketing companies (PSU OMCs) announced a hike in petrol and diesel prices on 30 April 2017. PSU OMCs announced an increase in the price of petrol and diesel with effect from the midnight of 30 April/1 May 2017. Petrol price was hiked by Rs 0.01 per litre and diesel price was raised by Rs 0.44 a litre at Delhi (excluding state levies).

Tata Motors consolidated net profit fell 96.2% to Rs 111.57 crore on 2.2% decline in net sales to Rs 66855.18 crore in Q3 December 2016 over Q3 December 2015.

Tata Motors is a market leader in commercial vehicles in India. The companys British luxury unit Jaguar Land Rover (JLR) sells premium luxury cars.

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Reliance Communications provides update on demerger of tower division of Reliance Infratel
May 02,2017

The shareholders of Reliance Infratel (RITL), a subsidiary ofReliance Communications (RCOM)at their meeting convened on 29 April 2017 pursuant to the order of the National Company Law Tribunal (NCLT), have approved with 98% majority the Scheme of Arrangement for demerger of the Tower division of the RITL into Towercom Infrastructure (TIPL).

Upon the completion of the demerger, through a Scheme of Arrangement, and the completion of certain other conditions and approvals, Rapid Holdings 2, a company which is a part ofthe Brookfield Infrastructure Group will acquire 100% of TIPL and thereby creating the second largest independent and operator-neutral Towers company in India.

The Shareholders of TIPL, a subsidiary of the Company, have also approved the said Scheme at their meeting held on 29 April, 2017, convened under the order of the NCLT.

The Company has already received approval from Competition Commission of India for the proposed Scheme of Arrangement.

The Companys telecom towers demerged into TIPL will be 100% owned and independently managed by Brookfield Infrastructure.

Upon the Scheme becoming effective, RCOM will receive an upfront cash payment of Rs.11,000 crore (US$ 1.7 billion), which will be solely used to reduce its debt. The already announced combination of RCOMs wireless business with Aircel, and the monetization of the Tower business, will together reduce RCOMs overall debt by Rs.31,000 crore (US$ 4.8 billion),or nearly 70% of existing debt.

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Ambuja Cements drops as Q1 operating EBITDA drops
May 02,2017

The result was announced after market hours on Friday, 28 April 2017. Domestic stock markets remained closed on Monday, 1 May 2017, for a local holiday.

Meanwhile, the S&P BSE Sensex was up 92.84 points or 0.31% at 30,011.24.

On the BSE, 1.74 lakh shares were traded on the counter so far as against the average daily volumes of 1.32 lakh shares in the past one quarter. The stock had hit a high of Rs 244.80 and a low of Rs 238.20 so far during the day. The stock had hit a 52-week high of Rs 282 on 31 August 2016 and a 52-week low of Rs 191 on 22 November 2016.

The large-cap company has equity capital of Rs 397.13 crore. Face value per share is Rs 2.

Ambuja Cements consolidated net profit rose 38.04% to Rs 396.96 crore on 6.83% growth in net sales to Rs 5631.90 crore in Q1 March 2017 over Q1 March 2016.

Consolidated cement sales volumes rose 3.27% to 12.62 million tonnes in Q1 March 2017 over Q1 March 2016.

Ambuja Cements MD and CEO Ajay Kapur said that improving sales volumes, combined with favourable pricing, contributed to a positive quarter despite rising costs. Following demonetisation, the company is well placed to serve both small and large customers.

In its outlook, the company said that medium to long term outlook for cement demand remains positive due to the governments continued focus on infrastructure development, affordable housing, smart cities, concrete roads and highways coupled with remonetisation.

Ambuja Cements is engaged in manufacturing and marketing cement and clinker for both domestic and exports. The company sells cement under the Ambuja Cement brand.

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Coromandel Engineering Company to hold AGM
May 02,2017

Coromandel Engineering Company announced that the Annual General Meeting (AGM) of the company will be held on 26 July 2017.

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