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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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Sun Pharma slips about 5% in two sessions
Feb 15,2017

Meanwhile, the BSE Sensex was down 142.15 points, or 0.50%, to 28,197.16.

On the BSE, so far 7.69 lakh shares were traded in the counter, compared with average daily volumes of 4.51 lakh shares in the past one quarter. The stock had hit a high of Rs 654 and a low of Rs 622.40 so far during the day.

The stock hit a 52-week high of Rs 898 on 23 February 2016. The stock hit a 52-week low of Rs 572.40 on 9 November 2016.

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

On a consolidated basis, Sun Pharmaceuticals Industries (Sun Pharma) net profit declined 11.23% to Rs 1721.85 crore on 8.41% rise in net sales to Rs 7683.24 crore in Q3 December 2016 over Q3 December 2015. The result was announced during trading hours yesterday, 14 February 2017.

Shares of Sun Pharma fell 0.73% to settle at Rs 650.15 yesterday, 14 February 2017. The stock has fallen 4.85% in two trading session from its close of Rs 654.95 on 13 February 2017.

India sales rose 5% to Rs 1969 crore in Q3 December 2016 over Q3 December 2015.

US finished dosage sales rose 4% to $507 million in Q3 December 2016 over Q3 December 2015. US sales include the benefit of the authorized generic sales of Olmesartan and its combinations.

Emerging Markets sales rose 14% to $172 million in Q3 December 2016 over Q3 December 2015. Rest of World sales rose 33% to $113 million in Q3 December 2016 over Q3 December 2015.

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

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NILE provides update on increase in capacity of its Choutuppal Lead recycling plant
Feb 15,2017

NILE announced that the Company added some equipment at its Choutuppal Lead recycling plant, and increased the capacity from 22,000 tons per annum to 32,000 tons per annum. The Company received, on 14 February 2017, n++Consent For Operationn++ from Telangana State Pollution Control Board to operate the plant at this increased capacity. The expansion was funded from internal accruals of the Company.

The total Lead recycling capacity of NILE is now 82,000 tons per annum (50,000 tons at Gajulamandyam and 32,000 tons at Choutuppal).

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NILE provides update on increase in capacity of its Choutuppal Lead recycling plant
Feb 15,2017

NILE announced that the Company added some equipment at its Choutuppal Lead recycling plant, and increased the capacity from 22,000 tons per annum to 32,000 tons per annum. The Company received, on 14 February 2017, n++Consent For Operationn++ from Telangana State Pollution Control Board to operate the plant at this increased capacity. The expansion was funded from internal accruals of the Company.

The total Lead recycling capacity of NILE is now 82,000 tons per annum (50,000 tons at Gajulamandyam and 32,000 tons at Choutuppal).

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Board of Morgan Ventures appoints CFO
Feb 15,2017

Morgan Ventures announced that the Board of Directors of the Company in their meeting held on 14 February 2017, appointed Dharam Kumar as the Chief Financial Officer (CFO) of the Company with immediate effect.

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Archidply Industries announces change in directorate
Feb 15,2017

Archidply Industries announced that the Board of Directors in their meeting held on 14 February 2017 has approved the following changes in the designation of Directors:

1. Rajiv Daga, presently Joint Managing Director & CEO changed to Managing Director & CEO.

2. Shyam Daga, presently Managing Director & CFO changed to Executive Director.

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Ind-Ra: Long Tail of Credit Costs to Subdue Profitability Despite Plateauing Stressed Assets
Feb 15,2017

India Ratings and Research (Ind-Ra) has maintained a stable rating and sector outlook on private sector banks and large public sector banks (PSBs) while it has retained the negative sector outlook for small & mid-sized PSBs for FY18. Ind-Ra expects large PSBs with better access to capital and private sector banks with their robust capitalisation to navigate another year of low growth and high credit costs with a stable outlook. The agency retains its negative outlook on mid-sized and smaller PSBs with weak capitalisation and large stock of aging non-performing loans (NPLs). These banks will find it increasingly difficult to grow given increasing capital requirements and large funding gaps impeding their ability to compete on spreads. Ind-Ras Long-Term Issuer Ratings of all PSBs are largely support driven and will mostly remain resilient on the expectations of continued government support.

Ind-Ra expects banks to require INR910 billion in tier-1 capital (including INR500 billion of Additional Tier-1 (AT1) bonds) till March 2019 to grow at a bare minimum pace of 8%-9% CAGR. This includes INR200 billion of residual tranches from the government of Indias Indradhanush programme. Ind-Ra believes there is an increasing divide between the large and smaller PSBs, with the former having some access to growth capital, better market valuation, and also some non-core assets to divest while the latter would only receive bailout capital if required. AT1 bonds have seen some tailwinds in FY17 due to favourable treatment from mutual fund and insurance sector regulators while kick-start of an infant secondary market has started improving the pricing. While the recent Reserve Bank of Indias guideline improves the coupon serviceability of even the weakest PSBs, a broad-based deepening of the market would likely only come from demonstration of PSBs ability to exercise issuer call options in the medium-term.

Ind-Ra expects impaired assets to peak at 12.5%-13% by FY18/FY19 while credit costs will show an extended recovery period (FY18F:185bp; FY16:230bp) as a large proportion of the recently acquired higher-bucket non-performing loans keep aging. This would keep blended return on assets (RoAs) for PSBs and private sector banks 20bp-30bp below their respective long-term medians. Ind-Ras study pegs stressed corporate/SME debt at 22% of bank credit of which 12% has found recognition as impaired so far while about 7% remains as non-PSU debt without any current dispensations such as 5/25 or S4A.

According to Ind-Ras sector-wise stress analysis, sectors such as iron & steel and textiles have seen a fair bit of recognition but provisioning might still not be adequate to protect against eventual loss given defaults (LGDs). On the other hand, significant proportion of unrecognised stress pertains to sectors such as infrastructure, realty and capital goods which potentially have long-term viable assets but would increasingly need cash flow restructuring to avoid slippages.

On the funding side, Ind-Ras analysis reveals that about ten odd mid-sized PSBs were running high asset liability mismatches which could potentially impact their ability to transmit any easing or compete aggressively on marginal cost lending rate. Ind-Ra expects the liability momentum to be another large differentiating factor between large and mid-sized PSBs. Ind-Ra expects sector net interest margins (NIMs) to remain stable at 2.9% for FY18F,15bp-20bp lower than the long-term average.

OUTLOOK SENSITIVITIES

Ind-Ras Long-Term Issuer Rating (which is used to benchmark senior bonds and Basel-III Tier-2 instruments) on PSBs will change only if there is any change in the governments support stance or a relative shift in their systemic importance.

Ratings for private sector banks and ratings on tier-1 bonds (such as AT1) for all banks are linked to the respective banks standalone profile. Positive triggers such as improvements in funding gaps and single-name concentrations together with increased capitalisation levels and lower loan loss provisions may result in a positive outlook for banks whose ratings are driven by performance.

Negative triggers such as pressure on capital ratios due to weak profitability, a spike in credit costs and delays in equity injections may lead to a negative sector outlook.

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Archidply Industries announces resignation of CFO
Feb 15,2017

Archidply Industries announced that Shyam Daga, Chief Finance Officer of the Company, has tendered his resignation with effect from the Board Meeting held on 14 February 2017. The Board will announce his successor in due course.

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SpiceJet slips after weak Q3 numbers
Feb 15,2017

The result was announced after market hours yesterday, 14 February 2017.

Meanwhile, the BSE Sensex was down 122.63 points, or 0.43%, to 28,216.68.

On the BSE, so far 58.64 lakh shares were traded in the counter, compared with average daily volumes of 29.25 lakh shares in the past one quarter. The stock had hit a high of Rs 64.05 and a low of Rs 59.40 so far during the day.

The stock hit a 52-week high of Rs 85.60 on 19 May 2016. The stock hit a 52-week low of Rs 54.50 on 9 November 2016.

The mid-cap company has equity capital of Rs 599.45 crore. Face value per share is Rs 10.

SpiceJet said its profits for the quarter were impacted by demonetization and higher fuel prices. Despite this, margins on earnings before interest, taxes, depreciation, amortization and engine rentals (EBITDAR), earnings before interest, taxes, depreciation and amortization (EBITDA) and earnings after taxes (EAT) basis were 28%, 14%, 11% respectively.

The December quarter saw SpiceJet excelling on all operational parameters emerging as the countrys most punctual airline while continuing to record the industry highest load factor of over 90% for 21 months in a row.

This is the eighth consecutive profitable quarter for SpiceJet since its turnaround after December 2014. The airline recorded a load factor of 90.7% for the quarter, the highest n++n the industry. SpiceJet also showcased remarkable on time performance for the quarter by clocking the highest ranking across all metros.

SpiceJet is India operates 343 average daily flights to 45 destinations, including 39 domestic and 6 international ones.

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Tata Motors slumps over 12% in two sessions
Feb 15,2017

Meanwhile, the BSE Sensex was down 219.43 points, or 0.77%, to 28,119.88.

On the BSE, so far 28.06 lakh shares were traded in the counter, compared with average daily volumes of 5.09 lakh shares in the past one quarter. The stock had hit a high of Rs 453.25 and a low of Rs 438.15 so far during the day.

The stock hit a 52-week high of Rs 598.60 on 7 September 2016. The stock hit a 52-week low of Rs 290.45 on 29 February 2016.

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

Tata Motors consolidated net profit fell 96.22% to Rs 111.57 crore on 2.22% decline in net sales to Rs 66855.18 crore in Q3 December 2016 over Q3 December 2015. The result was announced during market hours yesterday, 14 February 2017.

Shares of Tata Motors tumbled 3.68% to settle at Rs 486.80 yesterday, 14 February 2017. The stock has fallen 12.90% in two trading session from its close of Rs 505.40 on 13 February 2017.

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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Lubrizol and Finolex Industries sign FlowGuardn++ processor agreement
Feb 15,2017

Finolex Industries and The Lubrizol Corporation, manufacturers of CPVC compound, announced the signing of FlowGuardn++ processor agreement for the manufacturing and sale of Finolex FlowGuardn++ Plus Pipes and Fittings in India. The product will be launched in the market by Finolex Industries in the last week of March 2017 and will cater to the building and construction industry.

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National Fittings fixes record date for interim dividend
Feb 15,2017

National Fittings has fixed 21 February 2017 as the Record Date for the purpose of Payment of Interim Dividend.

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NCL Industries fixes record date for interim dividend
Feb 15,2017

NCL Industries has fixed 23 February 2017 as the Record Date for the purpose of Payment of Interim Dividend.

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Employees Enrolment Campaign 2017 offers opportunity to employers to voluntarily declare details of all employees
Feb 15,2017

EPFO launched Employees Enrolment Campaign 2017 offering opportunity to the employers to voluntarily declare details of all employees hitherto deprived of social security benefits under EPFO. The declaration scheme is operational between January 1st 2017 to March 31st 2017. Under the Scheme: The employees share of contributions if declared by the employer as not deducted shall stand waived. The damages to be paid by the employer in respect of the employer in respect of the employees for whom declaration has been made under this campaign shall be at the rate of Rupee One per annum. No administrative charges shall be collected from the employer in respect of the contribution made under the declaration. A declaration can be made under the Campaign for the period for which no inquiry under Section 7A has been initiated.

EPFO has provided facility for online declaration under the Principal Employer section of EPFO portal which facilities the implementation of the Employees Enrolment Campaign. After declaration, the payments are to be remitted by the employer through month-wise ECRs for the entire past period of enrolments.

To facilitate enhanced services, furnishing of Aadhar has now been made mandatory for members and pensioners of the Employees Pension Scheme. Furnishing of Aadhar seeded bank accounts as well as Aadaar by EPF members would facilitate better identification as well as consolidation of EPF accounts linked with various spells of employment of EPF members. This would allow offering any time anywhere services to EPF members.

ECR 2.0 has been operationlized and the principal employer can view details of contractor establishments compliance status. This will help all employees, particularly contract employees, becoming aware of any non-compliance by their employer/contractor as they shall be immediately receiving SMSs whenever a contribution is credited into their account.

In January 2017, EPFO settled 19,114 grievance leaving 2,556 as pending. Out of the pending grievances, 2,206 were pending for less than seven days.

As a part of next phase of computerization, EPFO is moving towards a centralized receipt and payment, system. EPFO has entered into banking arrangements with multiple banks. Once operationlized, this would also facilitate automation of compilation of financial information as required for compiling the organizational balance sheet and other monitoring reports.

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Housing Development & Infrastructure consolidated net profit declines 83.82% in the December 2016 quarter
Feb 15,2017

Net profit of Housing Development & Infrastructure declined 83.82% to Rs 16.23 crore in the quarter ended December 2016 as against Rs 100.33 crore during the previous quarter ended December 2015. Sales declined 65.47% to Rs 109.32 crore in the quarter ended December 2016 as against Rs 316.64 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales109.32316.64 -65 OPM %142.1264.61 - PBDT55.1392.34 -40 PBT53.2790.29 -41 NP16.23100.33 -84

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Filatex India standalone net profit rises 25.44% in the December 2016 quarter
Feb 15,2017

Net profit of Filatex India rose 25.44% to Rs 7.20 crore in the quarter ended December 2016 as against Rs 5.74 crore during the previous quarter ended December 2015. Sales rose 22.72% to Rs 366.59 crore in the quarter ended December 2016 as against Rs 298.73 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales366.59298.73 23 OPM %8.116.00 - PBDT16.537.18 130 PBT9.042.05 341 NP7.205.74 25

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