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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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Sita Enterprises to hold board meeting
Oct 12,2016

Sita Enterprises will hold a meeting of the Board of Directors of the Company on 20 October 2016 to consider the Unaudited financial results of the Company for the quarter ended September 30, 2016.

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Bajaj Electricals to hold board meeting
Oct 12,2016

Bajaj Electricals will hold a meeting of the Board of Directors of the Company on 10 October 2016.

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Gold to further shine despite a golden run, says ASSOCHAM paper
Oct 12,2016

In the backdrop of continuous global political and financial risks coupled with revival in demand in the domestic market, gold prices are likely to stay firm in the range of Rs 30,500 -33500 per 10 grams despite the yellow metal having had a golden run up of about 25 per cent since January this year, an ASSOCHAM Paper has pointed out.

The prices, at present are ruling at Rs 31,000-31,500 for 24 carat purity gold in major Indian cities, even as the festive demand seems to be picking up. n++Going forward, the festive demand will get a further push from the wedding season, which is the main contributor to gold consumption in India. The upside in the short term of a few months is seen between Rs 1,500-2000 while the downside could be limited to Rs 1,000-2000 per ten grams, the paper said.

While India has been among the two biggest consumers of the gold in the world along with China with imports in the past going even up to 1,000 tonnes per annum, the inflows this year have been quite low on a combination of factors including a prolonged strike by jewellers who vehemently protested imposition of excise duty on jewellery in the Budget and continuation of 10 per cent customs duty on imports despite expectations of reduction. Gold imports between January and September aggregated 270 tonnes this year against 658 tonnes in the corresponding period of last calendar year, adds the ASSOCHAM paper.

n++The moot question among the buyers and analysts is whether scope for any further run is left when gold has seen so much of a rally, the best among all the assets classes - including quantitative easing led stock markets. Revival in Indian consumption, financial risks in the Chinese economy, tapering tantrums of the US Federal Reserve as also close American Presidential elections are all seen as the push factors for the gold to remain as a safe haven,n++ the ASSOCHAM Paper noted.

Reading the trends and watching the global developments, the chamber Secretary General Mr D S Rawat said,n++ gold is finding a strong support levels in the international markets and is expected to stay above USD 1200 mark, as a starting point for the next possible rally. All in all, given the state of play in equity, debt and properties, gold would stand out for quite some timen++.

Yet another reason for the investors to seek refuge in gold by global markets is the prolonged phase of negative interest rates by a large number of central banks, which act as a big disincentive to the investing public to park their funds in banks which erode their wealth, rather than adding to the same.

n++The outlook for the precious metal remains upbeat taking into consideration several factors including reduced pace of the US Fed rate hikes , increased adoption of negative interest rates most recently in Japan , increased inflows in gold ETFs(equity trade funds) and decline in gold productionn++.

Back home, along with the official channels, smuggling of gold has seen up tick due to continuation of high import duties. The industry has been demanding lowering of duties to encourage official imports.

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Worldwide PC shipments declines 5.7% in third quarter of 2016: Gartner
Oct 12,2016

Worldwide PC shipments totaled 68.9 million units in the third quarter of 2016, a 5.7% decline from the third quarter of 2015, according to preliminary results by Gartner, Inc. This was the eighth consecutive quarter of PC shipment decline, the longest duration of decline in the history of the PC industry.

PC manufacturers faced many challenges, which included weak back-to-school demand, and ongoing low demand in the consumer market, especially in emerging markets.

There are two fundamental issues that have impacted PC market results: the extension of the lifetime of the PC caused by the excess of consumer devices, and weak PC consumer demand in emerging markets, said Mikako Kitagawa, principal analyst at Gartner. According to our 2016 personal technology survey, the majority of consumers own, and use, at least three different types of devices in mature markets. Among these devices, the PC is not a high priority device for the majority of consumers, so they do not feel the need to upgrade their PCs as often as they used to. Some may never decide to upgrade to a PC again.

In emerging markets, PC penetration is low, but consumers are not keen to own PCs. Consumers in emerging markets primarily use smartphones or phablets for their computing needs, and they dont find the need to use a PC as much as consumers in mature markets.

The PC market continues to consolidate, as the top six vendors combined for a record high 78% of PC shipments in the third quarter of 2016 (Table 1). Lenovo continued to be the worldwide market leader based on preliminary PC shipments, but HP Inc. is nearly tied for this top spot, and these rankings could change when final shipment results are published. Lenovo has recorded six consecutive quarters of year-over-year shipment declines, while the nearest competitors, HP Inc. and Dell, have recorded shipment growth since the second quarter of 2016.

Table 1: Preliminary Worldwide PC Vendor Unit Shipment Estimates for 3Q16 (Thousands of Units)Company3Q16 Shipments3Q16 Market Share (%)3Q15 Shipments3Q15 Market Share (%)3Q16-3Q15 Growth (%)Lenovo1443420.91478920.2-2.4HP Inc.1405820.41374418.82.3Dell1011114.7985613.52.6Asus53977.852717.22.4Apple49467.257097.8-13.4Acer46136.753707.3-14.1Others1538622.31835925.1-16.2Total6894510079098100-5.7Notes: Data includes desk-based PCs, notebook PCs and ultramobile premiums (such as Microsoft Surface), but not Chromebooks or iPads. All data is estimated based on a preliminary study. Final estimates will be subject to change. The statistics are based on shipments selling into channels. Source: Gartner (October 2016)

The stabilization of the PC business market was a key factor for HP Inc.s shipment growth, as a majority of its revenue was generated from the business segment. Dells shipment growth exceeded the regional average in most regions.

In the United States, PC shipments totaled 16.2 million units in the third quarter, a 0.3% decline from the same period last year (Table 2). This is the second consecutive quarter of flat year-over-year PC shipment growth.

Mobile PCs, which include notebooks, two-in-one PCs and Windows tablets, showed low-single-digit year-over-year growth, but the overall results were offset by a decline of desktop shipments, Ms. Kitagawa said. Traditionally, the third quarter has been driven by back-to-school PC sales, but back-to-school marketing campaigns have become less effective for driving PC sales. With so many PCs already in the consumer market, U.S. consumers do not feel the need to buy new PCs; many parents hand down old PCs to their kids. While our PC shipment report does not include Chromebooks, our early indicator shows that Chromebooks exceeded PC shipment growth.

Table 2: Preliminary U.S. PC Vendor Unit Shipment Estimates for 3Q16 (Thousands of Units) Company3Q16 Shipments3Q16 Market Share (%)3Q15 Shipments3Q15 Market Share (%)3Q16-3Q15 Growth (%)HP Inc.479329.7464928.73.1Dell387424381323.51.6Lenovo228414.1198212.215.3Apple207612.9232514.3-10.7Asus8245.17834.85.3Others230014.2265716.4-13.4Total1615210016208100-0.3Notes: Data includes desk-based PCs, notebook PCs

Ministry of Railways signs MoU with Government of Odisha For Cost Sharing of Two New Railway Line Projects in Odisha
Oct 12,2016

Ministry of Railways signed MoU with Government of Odisha For Cost Sharing of Two New Railway Line Projects in Odisha. This was signed in the presence of Shri Suresh Prabhakar Prabhu, Union Minister for Railways and Shri Naveen Patnaik, Chief Minister of Odisha. On this occasion Shri Dharmendra Pradhan, Union Minister for Petroleum and Natural Gas, Shri Jual Oram, Union Minister for Tribal Affairs and Member of Parliament from Odisha were also present. The signatories of the MoU were Shri SC Jain, ED Works from Ministry of Railways and Shri Sanjeev Rastogi, Principal Secretary, Government of Odisha. The MoU was signed for sharing cost of laying two new lines in Odisha viz. Jeypore - Malkangiri and Jeypore - Nabarangpur.

The two new line projects viz. Jeypore- Nabarangpur and Jeypore- Malkangiri was included by Indian Railways in the Railway budget 2016-17 subject to requisite approvals from the Odisha government. Government of Odisha has agreed to partly bear the cost of these projects as detailed below:

n++JEYPORE - MALKANGIRI (130 Km)- 25% of total cost

n++JEYPORE - NABARANGPUR (38 Km)- entire land cost and 50% cost of construction.

Speaking on the occasion Shri Suresh Prabhu said that Orissa is a focus state for Indian Railways. The speed of implementation of projects will take Odisha ahead in rail connectivity. Odisha has minerals, tourism potential, etc. But development is lacking due to lack of connectivity. State Government alone cannot bring in connectivity. So Indian Railways is doing its part to improve the connectivity in Odisha. To improve the connectivity infrastructure in a particular state, Indian Railways is now forming Joint Venture with that State Government. Sharing of ownership will lead to more leverage in creating connectivity in the State. 11 Railway Stations including Bhubaneswar in Odisha is planned to be taken for Railway Station Redevelopment. Indian Railways is planning ways of developing Odisha as a tourism hub through IRCTC. Indian Railways through its PSU, IRCTC has also planned to market products of tribal SHGs in Odisha. Indian Railways has also planned to open a Rail Factory in Kalahandi.

Shri Naveen Patnaik, Chief Minister of Odisha has said that Odisha occupies an important place on the map of Indian Railways. For the first time an all time high of Rs. 4880 Crore has been provided to Odisha. He also said that the rail connectivity in Odisha is way less than the national average and he is glad that this Government has given priority to his state for improving the rail connectivity. The two projects viz, Jeypore - Malkangiri and Jeypore - Nabarangpur will serve the most backward, Naxal affected and tribal areas of the state. Odisha Government will be providing land free of cost for these projects.

Shri Dharmendra Pradhan, Union Minister for Petroleum and Natural Gas has said that these projects will connect the Western Odisha for the first time. Development in Western Odisha was lacking only due to the lack of connectivity and this project will help in boosting the development in this part of the state.

Shri Jual Oram, Union Minister for Tribal Affairs has said that this project will connect the most backward areas of the state and bring in the development to the tribal people of the area. These project will help the tribal people in selling their products to faraway places and help in their development.

Detailed Project Report (DPR) for JEYPORE - NABARANGPUR has been prepared while the same for JEYPORE - MALKANGIRI is under preparation. Once the DPRs are examined by Ministry of Railways, requisite approvals will be sought.

Salient features of new BG line between Jeypore - Malkangiri (130 km)

The proposed new railway line between Jeypore - Malkangiri will serve the remote areas of Koraput and Malkangiri districts of Western Odisha, which have no railway connectivity. Entire line will be passing through hilly terrain and thick forests.

The important towns en-route are Boipariguda, Tanginiguda, Maithili, Pandripani Road. The total Route Km of the proposed new line is 130 Km connecting district headquarters of Koraput and Malkangiri. Out of 130 Km of this route, 45 Km falls in Koraput District and 85 Km in Malkangiri District. The alignment passes through 12 stations including three passenger halts at Tanginiguda, Govindapalli & Maithili.

The line is proposed with overhead electrification, standard-III interlocking, Multi Aspect Color Light Signaling (MACLS) and Optic fiber communication.

Construction of new line involves about 4,00 lakh cum of earth work in formation, 98 bridges (22 major, 61 minor & 15 RUBs). Level crossings have been eliminated by proposing all road crossings with Limited height subways (7 Nos), ROBs (15 Nos) and RUBs. There are four nos. of Tunnels comprising a total length of 2600m approximately at location of very deep cuttings.

Salient Features Of New BG Line Between Jeypore - Nabarangpur (38 Km)

The area from Jeypore to Nabarangpur is well irrigated by canals. The important town en- route is Boriguma, approximately 18 Km from Jeypore, i.e. almost half way to Nabarangpur. There are five railway stations including two passenger halts at Ambaguda Road and Kaliaguda.

Construction of new line involve about 98 lakh cum of earth work in formation, 60 bridges (9 major, 40 minor & 11 RUBs). Level crossing have been eliminated by proposing all road crossings with Limited height subways and RUBs.

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Indirect Tax Collections up to September 2016 show an increase of 25.9% over the corresponding period last year
Oct 12,2016

The figures for indirect tax collections (Central Excise, Service Tax and Customs) up to September 2016 in the current Financial Year 2016-17 show that net revenue collections are at Rs 4.08 lakh crore which is 25.9% more than the net collections for the corresponding period last year i.e. 2015-16. Till September 2016, 52.5% of the Budget Estimates of indirect taxes for Financial Year 2016-17 has been achieved.

As regards Central Excise, net tax collections stood at Rs.1.83 lakh crore during April-September, 2016 as compared to Rs.1.25 lakh crore during the corresponding period in the previous Financial Year, thereby registering a growth of 46.3%.

Net Tax collections on account of Service Tax during April-September, 2016 stood at Rs. 1,16,975 crore as compared to Rs. 95,780 crore during the corresponding period in the previous Financial Year, thereby registering a growth of 22.1%.

Net Tax collections on account of Customs during April-September 2016 stood at Rs. 1.08 lakh crore as compared to Rs. 1.03 lakh crore during the same period in the previous Financial Year, thereby registering a growth of 4.8%.

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Yuken India to hold board meeting
Oct 12,2016

Yuken India will hold a meeting of the Board of Directors of the Company on 19 October 2016 to consider and approve, the un-audited financial results for the 2nd Quarter ended September 30, 2016.

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G G Dandekar Machine Works to hold board meeting
Oct 12,2016

G G Dandekar Machine Works will hold a meeting of the Board of Directors of the Company on 19 October 2016 to consider and take on record, standalone Un-Audited Financial Results for the quarter & half year ended September 30, 2016.

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Harita Seating Systems to hold board meeting
Oct 12,2016

Harita Seating Systems will hold a meeting of the Board of Directors of the Company on 2 November 2016.

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HIMANSH, Indias Remote, High-Altitude Station opened in Himalaya
Oct 12,2016

Himalayan region has the largest concentration of glaciers outside the polar caps, as this region is aptly called the n++Water Tower of Asian++ is the source of the 10 major river systems that provide irrigation, power and drinking water for over 700 million people live in India, Pakistan and Bangladesh- nearly 10% of the worlds population. Understanding the behaviour of these glaciers and their contribution to the sustainable supply of water for mankind and agriculture is one of the grand challenges of Indian scientific community.

As part of the Indian governments initiatives to better study and quantify the Himalayan glacier responses towards the climate change, National Centre for Antarctic and Ocean Research (NCAOR), Goa, under the Ministry of Earth Sciences has established a high altitude research station in Himalaya called HIMANSH (literally meaning, a slice of ice), situated above 13,500 ft (> 4000 m) at a remote region in Spiti, Himachal Pradesh.

The station houses many instruments to quantify the glacier melting and its relation to changing climate. Some of the instruments that are available at this research facility include, Automatic Weather Stations for weather monitoring, water level recorder for quantifying the glacier melt, ground penetrating radar to know the thickness of glaciers, geodetic GPS systems to study the glacier movements, snow fork for studying snow thickness, steam drill, snow corer, temperature profilers, as well as various glaciological tools. Further, the researchers would be using this as a base for undertaking surveys using Terrestrial Laser Scanners (TLS) and Unmanned Aerial Vehicles (UAV) that would digitize the glacier motion and snow cover variations with exceptional precision.

The ongoing initiatives by NCAOR would contribute to the integrated study the glaciers in the upper Indus basin (Chandra basin) in Himachal Pradesh and their contribution to discharge. According to the UN data, the contribution of snow/glacier melt in annual stream runoff is substantially higher (>40%) in Indus basin as compared to Ganga and Brahmaputra basins (

Beneficiary of Venture Capital Fund scheme for Scheduled Caste (SC) Entrepreneurs launches his product
Oct 12,2016

Shri Shripad Yesso Naik, Minister of State (I/C) for AYUSH launched n++Elixir for Lifen++, an Ayurvedic Proprietary Medicine at a function here today. Shri Giriraj Singh, Minister of State for Micro, Small and Medium Enterprises was the Special Guest. This product has been produced by a beneficiary of the Venture Capital Fund Scheme for Scheduled Caste (SC) Entrepreneurs launched by Ministry of Social Justice & Empowerment in 2014-2015. The beneficiary M/s Mallur Flora & Hospitality Ltd. No. 11, RBI Colony, Bengaluru has been financed by Ministry of Social Justice & Empowerment, Government of India (IFCI) and Department of Welfare Govt. of Karnataka (KFSC).

The Ministry of Social Justice & Empowerment launched the Venture Capital Fund Scheme for Scheduled Caste (SC) Entrepreneurs in 2014-2015. 50 SC entrepreneurs have till now benefitted from the scheme. The Scheme has helped the entrepreneurs in achieving economic empowerment.

The objective of the Venture Capital Fund Scheme for Scheduled Caste are as follow:-

1. It is a Social Sector initiative to be implemented nationally in order to promote entrepreneurship among the scheduled caste population in India.

2. Promote entrepreneurship amongst the Scheduled Caste who are oriented towards innovation and growth technologies.

3. To provide concessional finance to the scheduled caste entrepreneurs, who will create wealth and value for society and at the same time will promote profitable businesses. The assets so created will also create forward/ backward linkage. It will create chain effect in the locality.

4. To increase financial inclusion for SC entrepreneurs and to motivate them for further growth of SC communities.

5. To develop SC entrepreneurs economically.

6. To enhance direct and indirect employment generation for SC population in India.

Estimated SC Entrepreneur Population

As per Census 2011, the SC population is 20.13 crore, which constitutes 16.62% of the total population in India. There is a huge potential in such a large economy like ours for such schemes out of which SC population can prosper and get opportunities to progress into the main stream. Although, there is no reliable data on the profile of SC Entrepreneurs, but still, as per the rough estimates of various stake holders such as Dalit Indian Chamber of Commerce and Industry (DICCI) etc. there are 1000 Dalit entrepreneurs with combined turnover of Rs. Sixty Thousand Crore. There are approx. 50 companies with turnover of Rs. 10 crore or more. Hence, there is a huge demand for providing concessional finance to such companies which can uplift these businesses and such entrepreneurs.

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Indias industrial production declines 0.7% in August 2016
Oct 10,2016

Indias industrial production declined 0.7% in August 2016 over August 2015, while recording decline for second straight month. The manufacturing sector production fell 0.3%, while the mining output dipped 5.6% contributing to dip in industrial production. However, the electricity output also rose at moderate pace of 0.4% in August 2016. A decline in IIP and manufacturing output was primarily led by sharp 49.4% plunge in the output of small item - cable, rubber insulated, excluding which IIP grew 2.3% in August 2016.

As per the use-based classification, the basic goods output rose 3.2% in August 2016 over a year ago, while the output of intermediate goods moved up 3.6%. The consumer goods output increased 1.1%, but that of capital goods plunged 22.2% in August 2016. Within consumer goods, the production of consumer durables increased 2.3%, while that of consumer non-durables rose 0.2% in August 2016.

The IIP growth in July 2016 has been revised downwards to (-) 2.5% in the first revision compared with (-) 2.4% reported provisionally. Meanwhile, the growth in May 2016 has been revised upwards to 1.3% at the final revision from first revision of 1.1%, while it is also higher compared with 1.2% reported provisionally.

In terms of industries, 7 out of the 22 industry groups in the manufacturing sector have shown negative growth during the month of august 2016 as compared to the corresponding month of the previous year.

The industry group electrical machinery & apparatus has shown the highest negative growth of (-) 49.4% followed by (-) 22.4% in furniture; manufacturing and (-) 6.6% in wearing apparel; dressing and dyeing of fur.

On the other hand, radio, TV and communication equipment & apparatus has shown the highest positive growth of 15.2%, followed by 14.6% in other transport equipment and 12.4% in basic metals.

Some important items showing high negative growth during the current month over the same month in previous year include cable, rubber insulated (-) 86.2%, sugar machinery (-) 65.5%, woollen carpets (-) 35.7%, gems & jewellery (-) 31.0%, rice (-) 25.3% and h r sheets (-) 24.7%.

Some important items that have registered high positive growth include fruit pulp (762.0%). air conditioner (room) (59.1%), instant food mixes (ready to eat) (46.5%), ship building and repairs (41.1%), h r coils/ skelp (39.5%), scooter and mopeds (33.3%), stainless/ alloy steel (31.8%), c r sheets (29.7%), purified terephthalic acid (29.2%) and boilers (22.8%).

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GRUH Finance standalone net profit rises 19.86% in the September 2016 quarter
Oct 10,2016

Net profit of GRUH Finance rose 19.86% to Rs 61.98 crore in the quarter ended September 2016 as against Rs 51.71 crore during the previous quarter ended September 2015. Sales rose 17.84% to Rs 367.43 crore in the quarter ended September 2016 as against Rs 311.81 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales367.43311.81 18 OPM %90.2889.71 - PBDT96.5780.97 19 PBT95.8380.25 19 NP61.9851.71 20

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Sumuka Agro Industries reports standalone net loss of Rs 0.04 crore in the September 2016 quarter
Oct 10,2016

Net loss of Sumuka Agro Industries reported to Rs 0.04 crore in the quarter ended September 2016 as against net profit of Rs 0.01 crore during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 as against Rs 0.04 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales00.04 -100 OPM %025.00 - PBDT-0.040.01 PL PBT-0.040.01 PL NP-0.040.01 PL

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GAIL (India) provides update on Jagdishpur-Haldia-Bokaro-Dhamra Natural Gas Pipeline
Oct 10,2016

GAIL (India) has initiated a major step towards the construction of the Jagdishpur-Haldia-Bokaro-Dhamra Natural Gas Pipeline (JHBDPL) by approving placement orders for pipeline laying work of 345 km from Phulpur to Dobhi under Phase IB at an estimated cost of Rs 306 crore under two sections to be executed simultaneously by JSIW Infrastructure and IL&FS Engineering & Construction. Laying works under phase-IB shall commence by the end of October 2016 and targeted to be completed by December 2018.

The line pipe supplies against orders are expected to commence soon from Jindal Saw, Man Industries (India), Essar Steel and Zhongyou BSS (Qinhuandao) Petro Pipe Co., China.

In a historical development, Cabinet Committee on Economic Affairs approved capital grant of 40%, amounting to Rs 5176 crore over 5 years, for the pipeline project, to be implemented by GAIL at an estimated capital outlay of Rs 12940 crore. It is the first time that Central Government has approved capital grant for a Natural Gas pipeline project.

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