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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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MSR India moves up after winning order
Apr 26,2017

The announcement was made during market hours today, 26 April 2017.

Meanwhile, the S&P BSE Sensex was up 42.33 points, or 0.14%, to 29,985.37. The S&P BSE Small-Cap index was down 171.50 points, or 1.12%, to 15,208.39.

On the BSE, 34,309 shares were traded in the counter so far, compared with average daily volumes of 73,416 shares in the past one quarter. The stock had hit a high of Rs 41 and a low of Rs 38.65 so far during the day.

The stock had hit a 52-week high of Rs 148 on 29 April 2016. The stock had hit a 52-week low of Rs 28.20 on 13 April 2017.

It had outperformed the market over the past one month till 25 April 2017, gaining 5.19% compared with the Sensexs 1.77% rise. The scrip had also outperformed the market over the past one quarter, rising 10.18% as against the Sensexs 8.07% rise.

The small-cap company has equity capital of Rs 31.44 crore. Face value per share is Rs 5.

Net profit of MSR India jumped 212.5% to Rs 0.75 on 49.5% drop in net sales to Rs 22.87 crore in Q3 December 2016 over Q3 December 2015.

MSR Indias product portfolio consists of copper bottles, ready-to-eat energy powder, FMCG products, extrusion and forging products. The company makes special purpose components for aerospace & defense industry.

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Establishment of Spices Farmers Producer Companies (SFPCs) in Arunachal Pradesh
Apr 26,2017

The Commerce and Industry Minister Nirmala Sitharaman is setting up spices farmers producer companies (SFPCs) on pilot basis in Arunachal Pradesh to help small and marginal farmers get better prices for produce.

The objective of the programme is to operationalize SFPC on pilot basis in 3 districts viz. Ziro in Lower Subansiri District for large cardamom and Namsai in Namsai District for ginger in Arunachal Pradesh & West District in Sikkim for large cardamom for empowering the farmers, especially women farmers in the identified spices growing districts, for better price realization through post harvest management, primary processing, value addition, packing, aggregation, organic certification etc.

Each SFPC will have 500 farmers as members in a sub-division or district. The farmers will be identified on cluster basis in a village, taluk or district by forming Farmer Interest Group(FIGs), each consisting of 20 farmers. 25 such FIGs will be formed to establish a SFPC.

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M&M extends gains on brokerage upgrade
Apr 26,2017

Meanwhile, the S&P BSE Sensex was up 101.26 points or 0.34% at 30,044.50.

On the BSE, 1.86 lakh shares were traded on the counter so far as against the average daily volumes of 1.68 lakh shares in the past one quarter. The stock had hit a high of Rs 1,345 and a low of Rs 1,315.55 so far during the day.

The stock had hit a record high of Rs 1,508.80 on 9 August 2016 and a 52-week low of Rs 1,141.80 on 2 December 2016. It had outperformed the market over the past one month till 25 April 2017, advancing 2.48% compared with the Sensexs 1.77% rise. The scrip had, however, underperformed the market over the past one quarter, gaining 5.19% as against the Sensexs 8.07% rise.

The large-cap company has equity capital of Rs 310.55 crore. Face value per share is Rs 5.

Shares of Mahindra & Mahindra (M&M) have risen 5.73% in two trading sessions from its closing of Rs 1,264.45 on 24 April 2017 in the aftermath of media reports that a foreign brokerage has upgraded the stock to outperform from neutral with increased target price. The stock had risen 3.4% to settle at Rs 1,307.50 yesterday, 25 April 2017.

As per reports, the brokerage has upgraded the M&M stock to outperform from neutral with increased target price at Rs 1,500 from Rs 1,390 earlier. The brokerage house cited potential for M&Ms tractor business that will surprise positively going ahead.

Reports suggested that the brokerage believes with number of state governments planning to introduce farm loan waivers, tractor demand could get further boost. The brokerage added that weakness in utility vehicle market already factored in by M&M.

M&M announced that Mahindra Overseas Investment Company (Mauritius) (MOICML), a wholly owned subsidiary of the company, has acquired 100% of the equity share capital of Mahindra Automotive North America Inc. (MANA) in USA.

In view of this, MANA has become a wholly owned subsidiary of MOICML and in turn, of the company with effect from 25 April 2017. The announcement was made after market hours yesterday, 25 April 2017.

M&Ms net profit rose 33.3% to Rs 1112.27 crore on 0.3% decline in net sales to Rs 10860.05 crore in Q3 December 2016 over Q3 December 2015.

M&M enjoys a leadership position in tractors and utility vehicles in India.

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FM : The Central Government has no plan to impose any tax on agriculture income
Apr 26,2017

The Finance Minister Arun Jaitley said the Central Government has no plan to impose any tax on agriculture income. As per the Constitutional Allocation of Powers, the Central Government has no jurisdiction to impose tax on agricultural income.

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NIIT Tech surges after winning client
Apr 26,2017

The announcement was made during market hours today, 26 April 2017.

Meanwhile, the S&P BSE Sensex was up 200.64 points, or 0.67%, to 30,143.88. The S&P BSE Mid-Cap index was up 28.86 points, or 0.2%, to 14,809.44.

High volumes were witnessed on the counter. On the BSE, 1.06 lakh shares were traded in the counter so far, compared with average daily volumes of 10,646 shares in the past one quarter. The stock had hit a high of Rs 470.55 and a low of Rs 430.15 so far during the day.

The stock had hit a 52-week high of Rs 587.60 on 15 June 2016. The stock had hit a 52-week low of Rs 370 on 9 November 2016.

It had outperformed the market over the past one month till 25 April 2017, gaining 3.66% compared with the Sensexs 1.77% rise. The scrip had, however, underperformed the market over the past one quarter, rising 0.2% as against the Sensexs 8.07% rise.

The mid-cap company has equity capital of Rs 61.36 crore. Face value per share is Rs 10.

Siam City Cement Public Company (SCCC), one of the leading cement manufacturers in Thailand has partnered with NIIT Technologies for building its future ready IT infrastructure. Supporting the digital transformation for SCCC, NIIT Technologies has designed, delivered and operating its private and public cloud infrastructure.

Future ready IT infrastructure developed by INSEE Digital is acting as the backbone infrastructure for the digital initiative at SCCC. It is now poised to leverage internet of things in fleet and fuel management and is in discussion with NIIT Tech on the feasibility to deploy robotic IT operations.

On a consolidated basis, NIIT Technologies net profit rose 9.73% to Rs 65.40 crore on 0.13% increase in net sales to Rs 692.20 crore in Q3 December 2016 over Q2 September 2016.

NIIT Technologies is a global IT solutions organization addressing the requirements of clients across the Americas, Europe, Asia, and Australia. The company services clients in travel and transportation, banking and financial services, insurance, manufacturing, and media verticals, offering a range of services, including application development and maintenance, infrastructure management, and business process management.

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Suzlon Energy provides product update
Apr 26,2017

Suzlon Energy announced that its revolutionary S111 120m 2.1 MW wind turbine generator has achieved 42% Plant Load Factor (PLF) in its first 12 months of operation at the Jamanwada site in Kutch district of Gujarat. The prototype was commissioned in March 2016.

The 42 percent PLF demonstrated by S111 120m is 20 percent higher than 35 percent PLF achieved by S97 120m in its first 12 months performance at the same location.

The S111 wind turbine generator is the latest addition to the 2.1 MW platform and features the time tested Doubly Fed Induction Generator (DFIG) technology.

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NIIT Technologies leads gainers in BSEs A group
Apr 26,2017

NIIT Technologies jumped 6.61% at Rs 464.80 at 13:45 IST on BSE. The stock topped the gainers in A group. On the BSE, 1.04 lakh shares were traded on the counter so far as against the average daily volumes of 9,784 shares in the past two weeks. The company during market hours today, 26 April 2017, announced collaboration of Siam City Cement with the company to build future ready IT infrastructure.

Mcleod Russel India surged 6.31% at Rs 192.20. The stock was the second biggest gainer in A group. On the BSE, 2.57 lakh shares were traded on the counter so far as against the average daily volumes of 40,000 shares in the past two weeks.

Balkrishna Industries gained 5.28% at Rs 1,545.05. The stock was the third biggest gainer in A group. On the BSE, 24,000 shares were traded on the counter so far as against the average daily volumes of 61,000 shares in the past two weeks.

Cummins India surged 5.08% at Rs 1,019. The stock was the fourth biggest gainer in A group. On the BSE, 45,000 shares were traded on the counter so far as against the average daily volumes of 24,000 shares in the past two weeks.

Intellect Design Arena rose 4.43% at Rs 130.80. The stock was the fifth biggest gainer in A group. On the BSE, 3.51 lakh shares were traded on the counter so far as against the average daily volumes of 1.3 lakh shares in the past two weeks.

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Gartner Survey Finds Government CIOs Spend 21 Percent of Their IT Budget on Digital Initiatives
Apr 26,2017

Top-performing organizations in the private and public sectors, on average, spend a greater proportion of their IT budgets on digital initiatives (33 percent) than government organizations (21 percent), according to a global survey of CIOs by Gartner, Inc. Looking forward to 2018, top-performing organizations anticipate spending 43 percent of their IT budgets on digitalization, compared with 28 percent for government CIOs.

Gartners 2017 CIO Agenda survey includes the views of 2,598 CIOs from 93 countries, representing US$9.4 trillion in revenue or public sector budgets and $292 billion in IT spending, including 377 government CIOs in 38 countries. Government respondents are segmented into national or federal, state or province (regional) and local jurisdictions, to identify trends specific to each tier. For the purposes of the survey, respondents were also categorized as top, typical and trailing performers in digitalization.

Rick Howard, research vice president at Gartner, said that 2016 proved to be a watershed year in which frustration with the status quo of government was widely expressed by citizens at the voting booth and in the streets, accompanied by low levels of confidence and trust about the performance of public institutions.

This has to be addressed head on, said Mr. Howard. Government CIOs in 2017 have an urgent obligation to look beyond their own organizations and benchmark themselves against top-performing peers within the public sector and from other service industries. They must commit to pursuing actions that result in immediate and measurable improvements that citizens recognize and appreciate.

Top Performers Secure Greater Budget Increases

Government CIOs as a group anticipate a 1.4 percent average increase in their IT budgets, compared with an average 2.2 percent increase across all industries. Local government CIOs fare better, averaging 3.5 percent growth, which is still more than 1 percent less on average than IT budget growth among top-performing organizations overall (4.6 percent).

The data is directionally consistent with Gartners benchmark analytics, which indicate that average IT spending for state and local governments in 2016 represented 4 percent of operating expenses, up from 3.6 percent in 2015. For national and international government organizations, average IT spending as a percentage of operating expenses in 2016 was 9.4 percent, up from 8.6 percent in 2015.

Whatever the financial outlook may be, government CIOs who aspire to join the group of top performers must justify growth in the IT budget by clearly connecting all investments to lowering the business costs of government and improving the performance of government programs, Mr. Howard said.

Top Technology Investment Priorities in Government

Looking beyond 2017, Gartner asked respondents to identify technologies with the most potential to change their organizations over the next five years.

Advanced analytics takes the top spot across all levels of government (79 percent). Digital security remains a critical investment for all levels of government (57 percent), particularly in defense and intelligence (74 percent).

The Internet of Things will clearly drive transformative change for local governments (68 percent), whereas interest in business algorithms is highest among national governments (41 percent). All levels of government presently see less opportunity in machine learning or blockchain than top performers do. Local governments are slightly more bullish than the rest of government and top performers when it comes to autonomous vehicles (9 percent) and smart robots (6 percent).

Biggest Barriers for Government CIOs

The top three barriers that government CIOs report they must overcome to achieve their objectives are skills or resources (26 percent), funding or budgets (19 percent), and culture or structure of the organization (12 percent).

Drilling down into the areas in which workforce skills are lacking, the government sector is vulnerable in the domain of data analytics (30 percent), which includes information, analytics, data science and business intelligence. Security and risk is ranked second for government overall (23 percent).

Bridge the skills gap by extending your networks of experts outside the agency, Mr. Howard said. Compared with CIOs in other industries, government CIOs tend not to partner with startups and midsize companies, missing out on new ideas, skills and technologies.

Seize the Digital Ecosystem Opportunity

The concept of a digital ecosystem is not new to government CIOs. Government organizations participate in digital ecosystems at rates higher than other industries, but they do so as a matter of necessity and without planned design, according to Gartner. Overall, 58 percent of government CIOs report that they participate in digital ecosystems, compared with 49 percent across all industries.

As digitalization gains momentum across all industries, the need for government to join digital ecosystems n++ interdependent, scalable networks of enterprises, people and things n++ also increases. The digital ecosystem becomes the means by which government can truly become more effective and efficient in the delivery of public services, Mr. Howard said.

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Volumes jump at Allcargo Logistics counter
Apr 26,2017

Allcargo Logistics clocked volume of 4.03 crore shares by 13:44 IST on BSE, a 818.06-times surge over two-week average daily volume of 49,000 shares. The stock surged 7.89% at Rs 194.25.

GlaxoSmithkline Consumer Healthcare notched up volume of 23,000 shares, a 60.3-fold surge over two-week average daily volume of 389 shares. The stock lost 0.72% at Rs 5,185.25.

CRISIL saw volume of 82,000 shares, a 48.86-fold surge over two-week average daily volume of 2,000 shares. The stock rose 0.86% at Rs 1,927.

Swaraj Engines clocked volume of 30,000 shares, a 29.41-fold surge over two-week average daily volume of 1,000 shares. The stock spurted 13.09% at Rs 1,870.

Eicher Motors saw volume of 74,000 shares, a 23.06-fold rise over two-week average daily volume of 3,000 shares. The stock was up 0.08% at Rs 26,110.10.

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MSR India secures work order worth Rs 22 lakh
Apr 26,2017

MSR India has bagged Rs 22 lakh work order from ISRO, Department of Space, Vikram Sarabhai Space Centre (Govt. of India).

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Gartner Survey Shows 85 Percent of Enterprises Will Have Started Windows 10 Deployments by End of 2017
Apr 26,2017

Migration to Windows 10 is expected to be faster than previous operating system (OS) adoption, according to a survey by Gartner, Inc. The survey showed that 85 percent of enterprises will have started Windows 10 deployments by the end of 2017.

Between September and December of 2016, Gartner conducted a survey in six countries (the U.S., the U.K., France, China, India and Brazil) of 1,014 respondents who were involved in decisions for Windows 10 migration.

Organizations recognize the need to move to Windows 10, and the total time to both evaluate and deploy Windows 10 has shortened from 23 months to 21 months between surveys that Gartner did during 2015 and 2016, said Ranjit Atwal, research director at Gartner. Large businesses are either already engaged in Windows 10 upgrades or have delayed upgrading until 2018. This likely reflects the transition of legacy applications to Windows 10 or replacing those legacy applications before Windows 10 migration takes place.

When asked what reasons are driving their migration to Windows 10, 49 percent of respondents said that security improvements were the main reason for the migration. The second most-often-named reason for Windows 10 deployment was cloud integration capabilities (38 percent). However, budgetary approval is not straightforward.

Windows 10 is not perceived as an immediate business-critical project; it is not surprising that one in four respondents expect issues with budgeting, said Mr. Atwal.

Respondents device buying intentions have significantly increased as organizations saw third- and fourth-generation products optimized for Windows 10 with longer battery life, touchscreens and other Windows 10 features. The intention to purchase convertible notebooks increased as organizations shifted from the testing and pilot phases into the buying and deployment phases, said Meike Escherich, principal research analyst at Gartner.

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Gujarat Gas inches up on brokerage rating
Apr 26,2017

Meanwhile, the S&P BSE Sensex was up 155.08 points or 0.52% at 30,098.32.

On the BSE, 4,978 shares were traded on the counter so far as against the average daily volumes of 24,799 shares in the past one quarter. The stock had hit a high of Rs 852.55 and a low of Rs 840.10 so far during the day.

The stock had hit a record high of Rs 880 on 18 April 2017 and a 52-week low of Rs 480 on 23 May 2016. It had outperformed the market over the past one month till 25 April 2017, surging 14.56% compared with the Sensexs 1.77% rise. The scrip had also outperformed the market over the past one quarter, gaining 51.88% as against the Sensexs 8.07% rise.

The large-cap company has equity capital of Rs 137.68 crore. Face value per share is Rs 10.

Gujarat Gas net profit rose 31.5% to Rs 42.29 crore on 17% decline in net sales to Rs 1220.31 crore in Q3 December 2016 over Q3 December 2015.

Gujarat Gas is a city gas distribution company with presence spread across 19 districts in Gujarat and the Union Territory of Dadra Nagar Haveli and the Thane geographical area which includes Palghar district of Maharashtra.

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V-Mart Retail scales record high
Apr 26,2017

The announcement was made during market hours today, 26 April 2017.

Meanwhile, the S&P BSE Sensex was up 169.26 points or 0.57% at 30,112.50. The S&P BSE Small-Cap index was up 46.09 points or 0.3% to 15,425.98.

On the BSE, 9,020 shares were traded on the counter so far as against the average daily volumes of 36,282 shares in the past one quarter. The stock had hit a high of Rs 972.40 in intraday trade, which is also a record high for the stock. The stock had hit a low of Rs 932 so far during the day. The stock had hit a 52-week low of Rs 425 on 24 June 2016.

It had outperformed the market over the past one month till 25 April 2017, surging 25.03% compared with the Sensexs 1.77% rise. The scrip had also outperformed the market over the past one quarter, jumping 84.98% as against the Sensexs 8.07% rise.

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

The new store opened is a fashion store. With this, the tally of stores in Uttar Pradesh is 17 composite & 44 fashion stores. This takes the total number of stores to 143 stores in 122 cities across 14 states, with 37 composite stores & 106 fashion stores with a total area of about 12.1 lakhs square feel, company said.

V-Mart Retail net profit rose 81.3% to Rs 27.21 crore on 23.2% growth in net sales to Rs 326.49 crore in Q3 December 2016 over Q3 December 2015.

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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Gartner Says India Smartphone Business has Growth Potential, but Market Conditions are More Competitive
Apr 26,2017

Current Scenario: As the Indian cellular market goes through consolidation and aggressive 4G roll out, demand for smartphones will continue to grow. With smartphone penetration maturing in many developed markets (see Table 1), continued growth in the worlds third largest smartphone market makes India an attractive market to device manufacturers. Smartphones in India are expected to account for 62 percent of all mobile phones sales in India in 2018. 

Analyst Take: With the slowdown in sales in major markets, including the U.S., China and mature Western Europe, India represents the largest opportunity because it is the second-largest mobile phone market after China, said Anshul Gupta, research director at Gartner.

In addition, demonetization in India through the elimination of 500 and 1,000 rupee notes caused an increased push from the government for digital currency, as well as people becoming more open to using digital payment methods. The rise of digital currency is bringing a new use case for smartphones, which, in turn, is set to trigger higher demands for smartphones. This opens the opportunity for service providers to launch mobile wallet solution or even vendors to launch their exclusive mobile payment solutions like Android Pay or Apple Pay to build an ecosystem.

Table 1. Smartphone Unit Sales as a Percent of Overall Mobile Sales in Selected Markets, 4Q16

CountrySmartphone Penetration of Overall Mobile Phone Sales (%)China96India50US96Indonesia68Brazil92

Source: Gartner (March 2017)

Leading global vendors, Samsung and Apple, have made exclusive plans to grow their shares in the market. Major Chinese manufacturers, such as Gionee, Huawei, Oppo, BBK (Vivo), Xiaomi, Lenovo etc., have committed big investments to exploit the growth opportunity.

Ever rising competition from Chinese manufacturers has not only troubled top local brands such as Micromax, Intex, Lava and Karbon mobile but also resulted in a decrease in smartphone market share for Samsung in India (see Table 2).

With an exclusive focus on the market from the device manufacturers, we expect more customized smartphones to come to market and remain key to win in this highly competitive market, said Mr. Gupta.

Table 2: Top smartphone vendor share by unit sales to end users in India

Smartphone Vendor201420152016Samsung24.4%21.2%17.3%Micromax18.3%16.7%11.9%Lenovo1.6%7.3%8.1%Intex Technologies2.9%10.1%6.9%Karbonn Mobiles11.6%3.4%5.2%

Source: Gartner (March 2017)

As opposed to earlier falling mobile phone average selling price (ASP) trends led by the rush to low cost mobile phone, Gartner has noted a change in consumer spending. Our recently concluded consumer survey showed, users are willing to spend more to get a smartphone with better features than simply rushing for lowest price smartphones.

The growing ASP trend will be maintained in the coming years with the increasing middle class population and rising per capita income leading to more disposable income to be spent on electronic goods, Mr. Gupta said.

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Zee Learn advances after strong Q4 earnings
Apr 26,2017

The result was announced after market hours yesterday, 25 April 2017.

Meanwhile, the S&P BSE Sensex was up 198.18 points or 0.66% at 30,141.42.

On the BSE, 3.57 lakh shares were traded on the counter so far as against the average daily volumes of 1.45 lakh shares in the past one quarter. The stock had hit a high of Rs 49.90 and a low of Rs 47.40 so far during the day.

The stock had hit a 52-week high of Rs 51.35 on 24 March 2017 and a 52-week low of Rs 26.50 on 24 June 2016. It had underperformed the market over the past one month till 25 April 2017, sliding 5.73% compared with the Sensexs 1.77% rise. The scrip had also underperformed the market over the past one quarter, gaining 2.18% as against the Sensexs 8.07% rise.

The small-cap company has equity capital of Rs 32.29 crore. Face value per share is Rs 1.

A part of Essel Group, Zee Learn is one of the leading companies in the education sector.

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