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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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Monica Electronics to hold AGM
Oct 06,2016

Monica Electronics announced that the 40th Annual General Meeting(AGM) of the company on 26 September 2016.

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Jaiprakash Power Ventures to hold board meeting
Oct 06,2016

Jaiprakash Power Ventures will hold a meeting of the Board of Directors of the Company on 6 October 2016 to consider the recommendations of Committee of Directors (for Restructuring) regarding proposals of restructuring including divestment of one or more units and review the progress made in the reduction of Companys debt.

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Manappuram Finance to hold board meeting
Oct 06,2016

Manappuram Finance will hold a meeting of the Board of Directors of the Company on 10 November 2016 to consider the Un-audited Consolidated and Standalone Financial Results of the Company for the period ended September 30, 2016 (Q2).

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Unichem Laboratories to hold board meeting
Oct 06,2016

Unichem Laboratories will hold a meeting of the Board of Directors of the Company on 21 October 2016 to consider and approve the Unaudited Financial Results of the Company for the quarter and six months ended September 30, 2016.

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Aroni Commercials to hold EGM
Oct 06,2016

Aroni Commercials announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 10 November 2016 .

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SKF India to hold board meeting
Oct 06,2016

SKF India will hold a meeting of the Board of Directors of the Company on 21 October 2016 to consider the Unaudited Financial Results for the quarter ended September 30, 2016 (Q2).

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State Bank of Travancore to hold board meeting
Oct 06,2016

State Bank of Travancore will hold a meeting of the Board of Directors of the Company on 26 October 2016 to consider and take on record the Un-Audited (Reviewed) Financial Results of the Bank for the quarter / half year ended September 30, 2016.

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Sobha gains after decent new sales
Oct 06,2016

The announcement was made after market hours yesterday, 5 October 2016.

Meanwhile, the BSE Sensex was up 61.28 points, or 0.22%, to 28,282.26.

On BSE, so far 13,000 shares were traded in the counter, compared with average daily volume of 13,604 shares in the past one quarter. The stock hit a high of Rs 321 and a low of Rs 308.10 so far during the day. The stock hit a 52-week high of Rs 348.65 on 4 November 2015. The stock hit a 52-week low of Rs 230.05 on 25 February 2016. The stock had outperformed the market over the past 30 days till 5 October 2016, rising 5.90% compared with 2.61% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 6.08% as against Sensexs 3.75% rise.

The small-cap company has equity capital of Rs 98.06 crore. Face value per share is Rs 10.

Sobha said the performance of its real estate operations during the Q2 September 2016 was on track. The company reported 0.63% rise in new sales to 8.55 lakh square feet in Q2 September 2016 over Q2 September 2015. New sales rose 5.74% in Q2 September 2016 over Q1 June 2016.

On a consolidated basis, net profit of Sobha rose 1.99% to Rs 35.90 crore on 24.36% rise in net sales to Rs 567.70 crore in Q1 June 2016 over Q1 June 2015.

Sobha is a backward integrated real estate player. The company is primarily focused on residential and contractual projects.

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9 mineral blocks to be put up for auction soon: Secretary, Mines
Oct 06,2016

A total of 9 mineral blocks put on auction including two from Karnataka iron ore plots with excellent response upto 100% bidding over reserve price, Secretary, Ministry of Mines, Mr Balvinder Kumar said at an ASSOCHAM event.

On the current status of mineral auction, He said, n++a total 9 nine blocks have been put on successfully auction including two from Karnataka iron ore plots and total 7 blocks are being put up to auctions by state government of Karnataka and we expect extremely good response in these seven mineral areasn++, said Mr Kumar while inaugurating an ASSOCHAM conference on India Mining Summit 2016.

The bids for the first iron ore in karnataka were 90% above the reserve price. In the second mine, the bid was almost 100% over reserve price and these are very encouraging results. He further said, the Government will be getting above Rs. 25000 crore by the way of royalties etc over the period of 50 years.

On the issue of aluminium industry minimum import duty hike or minimum import price (MIP), Mr Kumar said, we are examining this matter in great depth and two-three rounds of discussions have taken place with different segments of aluminium industry. So, either we may go for MIP or alternatively to increase the import duty but we want to develop consensus among the different segment of aluminium industry. We are working on it and in next 15 days will take decision on this issue.

Mr Balvinder Kumar, Secretary, Ministry of Mines said, n++we are also examining the both the options of buy back of shares or declaration of special dividend or both optionsn++.

By end of this fiscal year, minimum 40-50 mining leases to be auctioned by various states. 15 category C mines were re-auctioned, earlier cancelled by Supreme Court.

He further said, 250 districts District Mineral Foundation (DMFs) have been set up. They are implementing Pradhan Mantri Khanij Kshetra Kalyan Yojana (PMKKKY) and nearly 2800 crore have already got in these districts by district mineral foundations.

If we see exports, exports have increased tremendously. In 2015-16, it was 5.32 billion tonne; in this fiscal we have already bypassed that figure. Imports have also decreased sharply as against 2015-16 about 7 billion tonnes and now this has reduced to 1.022 billion tonnes. The overall mineral growth this year is about 10.6% in first five months. Iron Ore production has increased by 32% percent.

n++Backward districts to get 200-400 crore every year, the huge amount will be spent on social economic development of these areas and these district area soon see transformation in their overall development scenario and many of these districts are Maoist affectedn++, said Mr. Kumar.

n++SBI Cap consulting private sector participations in exploration of 100 mineral blocks to be explored by the agencies, the notification of this process will be in 2-3 weeks timen++.

n++Agencies to get 10 times of exploration fee if auctionable resources discovered; auctions to start after March 2017n++, said Mr. Kumar.

The Aero-geophysical survey to start in 3rd week of November to complete in 2-3 years, said Mr. Kumar.

He further said that we are also relaxing the guidelines governing exploration process to be easier and simpler.

Mr. Kumar focused on sustainable Mining- the star rating by self certification basis and if they dont get 4 or 5 star rating they will get 2-3 years to comply. By end of November, we will finish first phase of star rating.

To check illegal mining across the country through imaginary from National Remote Sensing Centre (NRSC); We are going to monitor all the mining area through the satellite imaginary. We are also going to launch mobile app where anybody can upload photo of illegal miningn++, said Mr. Kumar.

The automation of mining plan with online web portal giving real-time base data across all states, said Mr. Kumar.

n++The export duty structure on iron ore shall not be changen++. About the pending cases of section 10A2C, there are about 304 cases pending under this category, said Mr. Kumar.

Mining industry is in the phase of recovery where many reforms are taking place. Mining provides direct employment to 2.6 billion people. On real time basis, one can see production of all minerals across states.

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Jaiprakash Power surges ahead of board meet to consider biz rejig
Oct 06,2016

The announcement was made after market hours yesterday, 5 October 2016.

Meanwhile, the S&P BSE Sensex was up 97.94 points or 0.35% at 28,318.92.

On BSE, so far 5.88 lakh shares were traded in the counter as against average daily volume of 5.34 lakh shares in the past one quarter. The stock hit a high of Rs 4.55 and a low of Rs 4.26 so far during the day. The stock had hit a 52-week high of Rs 7.89 on 2 November 2015. The stock had hit a record low of Rs 3.65 on 2 June 2016. The stock had underperformed the market over the past one month till 5 October 2016, sliding 14.99% compared with 1.09% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 26.6% as against Sensexs 3.88% rise.

The small-cap company has equity capital of Rs 2938 crore. Face value per share is Rs 10.

Jaiprakash Power Ventures scheduled a board meeting today, 6 October 2016, to consider the recommendations of Committee of Directors (for restructuring) regarding proposals of restructuring including divestment of one or more units and review the progress made in the reduction of companys debt.

Jaiprakash Power Ventures reported net loss of Rs 196.16 crore in Q1 June 2016 compared with net profit of Rs 66.96 crore in Q1 June 2015. Net sales declined 37.8% to Rs 750.41 crore in Q1 June 2016 over Q1 June 2015.

Jaiprakash Power Ventures is a power company and a part of Infrastructure conglomerate - Jaypee Group. The company plans, develops, implements and operates power projects in India.

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TRIL jumps after signing JV pact with Chinese firm
Oct 06,2016

The announcement was made after market hours yesterday, 5 October 2016.

Meanwhile, the BSE Sensex was up 103.15 points, or 0.37%, to 28,324.13.

On BSE, so far 16,000 shares were traded in the counter, compared with average daily volume of 6,403 shares in the past one quarter. The stock hit a high of Rs 364.40 and a low of Rs 342 so far during the day. The stock hit a 52-week high of Rs 387.90 on 27 May 2016. The stock hit a 52-week low of Rs 167 on 26 October 2015. The stock had outperformed the market over the past 30 days till 5 October 2016, sliding 1.91% compared with 2.61% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 3.95% as against Sensexs 3.75% rise.

The small-cap company has equity capital of Rs 13.26 crore. Face value per share is Rs 10.

Transformers & Rectifiers (India) (TRIL) announced that it has entered into a joint venture agreement with Jiangsu Jingke Smart Electric Company (Jingke), a company incorporated under laws of Peoples Republic of China (PRC) for purpose of starting the business of manufacturing and marketing of GIS/HGIS/TGIS systems and products for 220 kilovolt (kV) and below and distribution products of 40.5 kV and below in India. TRIL will hold majority of 60% of share of joint venture and balance will be held by Jingke. The company neither has any interest in Jingke nor fall within related party transactions.

TRIL is leading manufacturer of transformers and reactors upto 765 kV. The utilities find increasing usage of GIS as space becomes restriction and technology is getting advanced. This is logical foray for a TRIL for diversification in transmission & distribution (T&D) Segment.

TRIL reported net profit of Rs 0.75 crore in Q1 June 2016 as against net loss of Rs 12.49 crore in Q1 June 2015. Net sales rose 174.11% to Rs 158.52 crore in Q1 June 2016 over Q1 June 2015.

TRIL manufactures a wide range of transformers for the domestic and the international market.

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Need to link Cross Subsidy Charges to avoid states losses: ASSOCHAM
Oct 06,2016

To reduce states discoms burgeoning losses, the Industry body ASSOCHAM has suggested linking of Cross Subsidy Charges (CSS) with aggregate technical and commercial (AT&C) losses faced by them.

In a note submitted to the Chief Minister of Haryana, Mr. Manohar Lal Khattar by The Associated Chambers of Commerce and Industry of India (ASSOCHAM) says that n++will ensure that as states reduce their losses, additional charges levied on industry will correspondingly decreasen++.

The Associated Chamber of Commerce and Industry of India (ASSOCHAM) feels this will provide a level playing field and a fair window for private sector to operate at lower but reasonable operating cost.

The industry body lamented that the concept if CSS is higher than the Average Cost of Supply and Average Revenue realization (ACS-ARR) gap of any State, then the State has a public interest in levying CSS as a sign of protectionism.

Concept of open access to absorb excess generation of power was brought by the Government of India with a view to ensure higher operating efficiencies which shall cut down T&D losses. However, power tariffs paid by industry have increased sharply across States owing to a rise in the levy of cross subsidy surcharges (CSS) almost to an extent of 30-600%. In the State of Haryana, the CSS charges increased sharply from Rs. 930 MWh to Rs. 1570 per MWh.

The National Tariff Policy (NTP) had suggested capping the CSS at 20% of tariff. The NTP also introduced additional surcharge for consumers who shift to other sources apart from State Discoms. This is clear deviation from the fundamental principal of open access, which is one of the most important amendments suggested by the Electricity Act. While the Government of India has given the option of procurement of power through open access, the States have been levying various charges, restricting the concept and success of open access policy.

CSS is levied by state power distribution companies (discoms) to recover cost of supply. This comes at a time when most states have signed up for the Union governments Ujwal Discom Assurance Yojana (UDAY) schedule that aims to reduce losses and improve efficiency.

According to market estimates the gap between the average cost of supply (ACS) and the average revenue realization (ARR) of state-owned discoms is around 27 per cent, and around 35 per cent in big states such as UP and Rajasthan.

The National Electricity Policy (NEP) allows states to subsidies a section of consumers. It also has provisions for levying additional charges on consumers capable of paying higher rates to make up for the ACS-APR gap.

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UFO Moviez India provides update on scheme of arrangement
Oct 06,2016

UFO Moviez India announced that the Company has filed an application of Scheme of Arrangement between UFO Moviez India (Transferee Company) and Southern Digital Screenz India, V N Films, Edridge and UFO International (collectively Transferor Companies) with the High Court of Judicature at Bombay.

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Oil India gains after company led consortium completes two acquisitions in Russia
Oct 06,2016

The announcement was made after market hours yesterday, 5 October 2016.

Meanwhile, the S&P BSE Sensex was up 20.29 points or 0.07% at 28,241.27.

On BSE, so far 2,874 shares were traded in the counter as against average daily volume of 86,479 shares in the past one quarter. The stock hit a high of Rs 416.60 and a low of Rs 412.80 so far during the day. The stock had hit a 52-week high of Rs 466.70 on 9 October 2015. The stock had hit a record low of Rs 300.50 on 1 March 2016. The stock had outperformed the market over the past one month till 5 October 2016, advancing 6.53% compared with 1.09% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 10.09% as against Sensexs 3.88% rise.

The large-cap company has equity capital of Rs 601.14 crore. Face value per share is Rs 10.

The Indian consortium led by Oil India including Indian Oil Corporation (IOCL) and Bharat PetroResources (BPRL), a 100% subsidiary of BPCL have successfully completed two landmark acquisitions of producing upstream assets in Russia. The consortium acquired 29.9% stake in LLC Taas-Yuryakh Neftegazodobycha (Taas Yuryakh) and 23.9% stake in JSC Vankorneft (Vankorneft) from Rosneft Oil Company, the national oil company of Russia.

Shares of IOCL were up 1.88% at Rs 627.50. The company announced after market hours yesterday, 5 October 2016 that it has fixed 19 October 2016 as the record date for 1:1 bonus issue.

BPCL was up 0.93% at Rs 654.10.

Oil Indias net profit fell 33.5% to Rs 494.41 crore on 22.4% decline in net sales to Rs 2133.31 crore in Q1 June 2016 over Q1 June 2015.

The Government of India held 67.64% stake in Oil India as per the shareholding pattern as on 30 June 2016.

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Ram Info wins e-Suvidha project from Government of Uttar Pradesh
Oct 06,2016

Ram Info announced that the Company has been awarded for providing and operation of total solution based package comprising of Hardware, Software Connectivity for deployment, customization and Successful Replication, Implementation and diversification of Citizen Centric Services/Public utility Interface through e-Suvidha project, Government of Uttar Pradesh.

The above project was awarded to the Company in consortium of United Telecoms. The project is awarded based on the per transaction fee which estimated about Rs. 8 to 9 crore per annum (excluding applicable service Tax).

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