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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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Corporation Bank gains after announcing lending rates based on marginal cost of funds
Sep 30,2016

The announcement was made after market hours yesterday, 29 September 2016.

Meanwhile, the S&P BSE Sensex was down 8.01 points or 0.03% at 27,819.52

On BSE, so far 15,000 shares were traded in the counter as against average daily volume of 78,680 shares in the past one quarter. The stock hit a high of Rs 42.55 and a low of Rs 40.35 so far during the day. The stock had hit a 52-week low of Rs 30.75 on 25 February 2016. The stock had hit a 52-week high of Rs 47.80 on 9 September 2016. The stock had underperformed the market over the past 30 days till 29 September 2016, falling 2.92% compared with 2.20% decline in the Sensex. The scrip had also underperformed the market in past one quarter, rising 0.85% as against Sensexs 2.51% rise.

The mid-cap state-run bank has equity capital of Rs 204.50 crore. Face value per share is Rs 2.

Corporation Banks Marginal Cost of Funds based Lending Rate (MCLR) for overnight loans will be 9.05%, for one month will be 9.15% and for three months will be 9.30%. The MCLR on 6-month loans will be 9.40% and for one-year loans the rate would be 9.50%, the bank said.

Corporation Banks net profit dropped 82.41% to Rs 35.92 crore on 1.75% fall in total income to Rs 5241.12 crore in Q1 June 2016 over Q1 June 2015.

The Government of India held 67.2% stake in Corporation Bank as per the shareholding pattern as on 30 June 2016.

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Seamec jumps after winning contract
Sep 30,2016

The announcement was made after market hours yesterday, 29 September 2016.

Meanwhile, the BSE Sensex was down 43.49 points, or 0.16%, to 27,784.04

On BSE, so far 5,198 shares were traded in the counter, compared with average daily volume of 15,660 shares in the past one quarter. The stock hit a high of Rs 85.85 and a low of Rs 82.10 so far during the day. The stock hit a 52-week high of Rs 127 on 3 November 2015. The stock hit a 52-week low of Rs 64.25 on 31 March 2016. The stock had underperformed the market over the past 30 days till 29 September 2016, falling 13.42% compared with 2.20% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 23.03% as against Sensexs 2.51% rise.

The small-cap company has equity capital of Rs 25.43 crore. Face value per share is Rs 10.

Seamec said that it has entered into an agreement with HAL Offshore (HAL) for deployment of vessel Seamec II along with provision of services of remotely operated vehicle (ROV), the contract commenced with effect from 28 September 2016. As intimated, the total contract value for the period of 3 years will be $33.44 million approximately.

Seamec reported net loss of Rs 11.16 crore in Q1 June 2016 as against net profit of Rs 12.19 crore in Q1 June 2015. Net sales declined 46.28% to Rs 46.62 crore in Q1 June 2016 over Q1 June 2015.

Seamec is the regions leading provider of Diving Support Vessel (DSV) based diving services. The company has experience in the ongoing subsea inspection, repair, maintenance and light construction required for the efficient and productive support of offshore oil production.

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Sinnar Bidi Udyog reports consolidated net profit of Rs 0.07 crore in the June 2016 quarter
Sep 30,2016

Net profit of Sinnar Bidi Udyog reported to Rs 0.07 crore in the quarter ended June 2016 as against net loss of Rs 0.11 crore during the previous quarter ended June 2015. Sales rose 5.39% to Rs 1.76 crore in the quarter ended June 2016 as against Rs 1.67 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales1.761.67 5 OPM %11.364.79 - PBDT0.12-0.08 LP PBT0.10-0.10 LP NP0.07-0.11 LP

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Lyka Labs reports consolidated net loss of Rs 4.14 crore in the June 2016 quarter
Sep 30,2016

Net loss of Lyka Labs reported to Rs 4.14 crore in the quarter ended June 2016 as against net profit of Rs 1.69 crore during the previous quarter ended June 2015. Sales declined 56.76% to Rs 20.06 crore in the quarter ended June 2016 as against Rs 46.39 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales20.0646.39 -57 OPM %12.0122.91 - PBDT-1.635.57 PL PBT-4.162.97 PL NP-4.141.69 PL

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Sports Sector Gets the Infrastructure Status
Sep 30,2016

For addressing the issue of deficit of sports infrastructure in the country, the Ministry of Youth Affairs & Sports Affairs had moved a proposal for inclusion of Sports in the harmonized master list of infrastructure sub-sectors so that the sports sector becomes eligible for obtaining long term financial support from banks and other financial institutions on the same principle as is available to other infrastructure projects.

The Ministry of Finance after a series of meetings and discussions with different agencies including RBI have decided that sports infrastructure will be included under the Harmonized Master List of Infrastructure Subsectors and that it n++includes the provision of Sports Stadia and Infrastructure for Academies for Training / Research in Sports and Sports-related activitiesn++ In this connection Ministry of Finance, Department of Economic Affairs, had issued a Gazette Notification dated 09th September 2016.

This inclusion would encourage private investment in a public good which has socio-economic externalities in a country with young population. It will also bolster investment in sports infrastructure sector which will contribute to the economy and help in promotion of health and fitness of the people of this country as also provide opportunities for employment in the new and exciting sectors. It goes without saying that investment of the private sector will widen the platform from where the country can become a sporting power in future.

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Majesco gains after tie up with Dropln
Sep 30,2016

The announcement was made after market hours yesterday, 29 September 2016.

Meanwhile, the BSE Sensex was down 14.66 points, or 0.05%, to 27,812.87.

On BSE, so far 6,898 shares were traded in the counter, compared with average daily volume of 27,648 shares in the past one quarter. The stock hit a high of Rs 449.95 and a low of Rs 438.60 so far during the day. The stock hit a record high of Rs 789 on 12 January 2016. The stock hit a 52-week low of Rs 308.10 on 1 October 2015. The stock had underperformed the market over the past 30 days till 29 September 2016, falling 10.74% compared with 2.20% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 19.35% as against Sensexs 2.51% rise.

The small-cap company has equity capital of Rs 11.62 crore. Face value per share is Rs 5.

Majesco announced a strategic partnership with Dropln, Inc. Dropln is an innovative provider of an on-demand live video platform for auto and home insurance, using smartphones and drones. In addition, they have access to a crowdsourced independent contractor network of 60,000 Droperators and 1100 drone pilots, smartphone users who capture on-demand live video streams, and photos for insurance professionals.

As part of this partnership, the companies have pre-integrated Droplns solution with the Majesco Cloudlnsurer through the Majesco DigitalConnect platform to offer the advanced, innovative claims capabilities which will enhance and streamline the claims experience for the insurers. The companies will be working together to identify joint business opportunities with new and existing clients, focused on helping Majesco customers further innovate claims using these emerging technologies and methods. In particular, this integrated solution and access to the Droperator network is expected to be appealing to new greenfields and startups.

The Dropln platform enables insurers to use on-demand live video for policy acquisition and management by harnessing the power of the video camera inside the smartphone that nearly everyone carries. It eliminates the need for the underwriter/claims adjuster to travel and provides access to the customer with unprecedented immediacy. Live video options include direct to customers, direct to field or partner resources, and on-demand to droperators or drones.

On a consolidated basis, Majesco reported net profit of Rs 1.71 crore in Q1 June 2016 compared with net loss of Rs 1.97 crore in Q4 March 2016. Net sales rose 0.76% to Rs 216.27 crore in Q1 June 2016 over Q4 March 2016.

Majesco enables insurance business transformation for about 150 insurance customers worldwide by providing solutions which include software, consulting and services.

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NHPC gains after signing wind power purchase agreement in Rajasthan
Sep 30,2016

The announcement was made after market hours yesterday, 29 September 2016.

Meanwhile, the BSE Sensex was up 3.26 points, or 0.01%, to 27,830.79.

On BSE, so far 1.04 lakh shares were traded in the counter, compared with average daily volume of 5.33 lakh shares in the past one quarter. The stock hit a high of Rs 25.50 and a low of Rs 24.30 so far during the day. The stock hit a 52-week high of Rs 28.20 on 31 August 2016. The stock hit a 52-week low of Rs 16.55 on 1 October 2015. The stock had underperformed the market over the past 30 days till 29 September 2016, falling 13.37% compared with 2.20% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 2.61% as against Sensexs 2.51% rise.

The large-cap company has equity capital of Rs 11070.67 crore. Face value per share is Rs 10.

NHPC said that a wind power purchase agreement (PPA) has been signed amongst Rajasthan Government, NHPC and INOX on 28 September 2016 for 50 megawatts (MW) wind power project in Jaisalmer, Rajasthan. As per the PPA, Rajasthan Government will purchase the power generated from the project.

NHPCs net profit rose 7.5% to Rs 857.82 crore on 9.4% growth in net sales to Rs 2166.04 crore in Q1 June 2016 over Q1 June 2015.

NHPC was incorporated in the year 1975 with an objective to plan, promote and organise an integrated and efficient development of hydroelectric power in all aspects. Later on, NHPC expanded its objects to include development of power in all its aspects through conventional and non-conventional sources in India and abroad.

Government of India (GoI) currently holds 74.59% stake in NHPC (as per the shareholding pattern as on 30 June 2016).

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Gold futures stage a late turnaround
Sep 30,2016

Bullion prices ended higher at Comex on Thursday, 29 September 2016. Gold futures staged a turnaround late in Thursdays session, settling higher as a drop in U.S. equities boosted the investment appeal of the precious metal.

December gold rose $2.30, or 0.2%, to end at $1,326 an ounce after tapping earlier lows under $1,320. Prices had tallied losses of roughly 1.6% over the past two trading sessions. Silver for December delivery added 6.7 cents, or 0.4%, to $19.188 an ounce.

Gold futures turned decisively higher in the last hour of Comex trading as losses for major U.S. equity indexes intensified on the back of worries about European banks. The indexes still looked set to end higher for the third quarter. European stock indexes finished mixed, but were also set for broad gains for the quarter.

U.S. stocks fell as Deutsche Banks U.S.listed shares tumbled on news that some hedge funds that clear derivatives through the company had withdrawn some excess cash and options. That helped fuel larger declines for the Dow Jones Industrial Average and S&P 500 and sent investors back to the perceived safety of gold.

But gold prices had spent much of the session trading lower with U.S. and overseas stock markets set to log gains for the quarter and traders looking to comments this week from Federal Reserve officials for clues on the timing and pace of interest-rate increases. Fed remarks so far this week have mostly pointed to a December U.S. rate increase but some disagreement persists.

The ICE U.S. Dollar Index was up 0.2% as markets looked to recent and upcoming commentary from Federal Reserve officials for clues on the pace of interest-rate increases. Higher interest rates can boost the dollar and dull demand for dollar-denominated commodities.

Economic data at Wall Street showed that initial jobless claims rose 3,000 to 254,000 in late September, but remained below 300,000 for 82 straight weeks, pointing to a steadily improving labor market. Meanwhile, revised data suggest that the economys performance in the spring was slightly better than expected, as business investment wasnt nearly as weak as previously reported. The gross domestic product grew a 1.4% pace in the second quarter.

On Thursday, Philadelphia Fed President Patrick Harker said he backs a December rate increase if the economy continues to grow as expected, while Atlanta Fed President Dennis Lockhart said he expects the Fed to be in a position to raise rates soon.

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Ambalal Sarabhai Enterprises to hold AGM
Sep 30,2016

Ambalal Sarabhai Enterprises announced that the 38th Annual General Meeting(AGM) of the company on 29 September 2016.

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Kachchh Minerals to hold AGM
Sep 30,2016

Kachchh Minerals announced that the 35th Annual General Meeting(AGM) of the company on 29 September 2016.

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Alkem Laboratories slips after getting USFDA observations on Daman plant
Sep 30,2016

The announcement was made after market hours yesterday, 29 September 2016.

Meanwhile, the BSE Sensex was up 64.65 points, or 0.23%, to 27,892.18.

On BSE, so far 27,000 shares were traded in the counter, compared with average daily volume of 9,076 shares in the past one quarter. The stock hit a high of Rs 1,765.60 and a low of Rs 1,655 so far during the day. The stock hit a record high of Rs 1,852.95 on 29 September 2016. The stock hit a record low of Rs 1,175 on 2 May 2016. The stock had outperformed the market over the past 30 days till 29 September 2016, rising 16.67% compared with 2.20% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 32.06% as against Sensexs 2.51% rise.

The large-cap company has equity capital of Rs 23.91 crore. Face value per share is Rs 2.

Alkem Laboratories said that US Food and Drug Administration (USFDA) had conducted an inspection at the companys manufacturing facility located at Daman, India from 20 September 2016 to 29 September 2016. In this regard, the company has received the inspection report which contains thirteen 483 observations. The company said it will put together a detailed response with adequate corrective and preventive measures to address the USFDA observations and the same is proposed to be filed within the timeline stipulated by USFDA.

On a consolidated basis, net profit of Alkem Laboratories rose 18.74% to Rs 238.79 crore on 20.34% rise in net sales to Rs 1439.36 crore in Q1 June 2016 over Q1 June 2015.

Alkem Laboratories is a pharmaceutical company with global operations, engaged in the development, manufacture and sale of pharmaceutical and nutraceutical products.

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Minister of Railways Launched and Dedicated Various Services to the Nation
Sep 30,2016

Shri Suresh Prabhakar Prabhu, Minister of Railways, as a part of fulfilment of Budget Announcements 2016-17, launched and dedicated following services to the nation : -

1.Liberalised station to station special freight rates policy

2.Policy providing sub quota of 33 % to women within reserved categories for the allotment in catering units.

3.Policy giving preference to local domicile holders for commercial licenses at stations.

4.New system of allocating vacant berths after final charting to wayside stations.

5.Launch of the new n++Train at a Glancen++ and new Time Table effective from 1st October 2016.

Speaking on the occasion, Minister of Railways Shri Suresh Prabhakar Prabhu said that the Indian Railways is striving hard to achieve full passengers satisfaction in all respects and todays initiatives are part of our such endeavours. He said that the introduction of new policy providing sub-quota of 33% to women in catering units is a step towards women empowerment and their increased participation in Railways. He said that Railways will continue to introduce such new reformative steps.

Speaking on the occasion, Minister of State for Railways Shri Rajen Gohain said that Indian Railways being the biggest organization of the country has lots of complex projects to implement throughout the country. But overcoming the difficulties and complexities, Railways is implementing its budget announcements in a very promised manner which is a landmark in itself.

Salient Features of the initiatives : -

POLICY PROVIDING SUB QUOTA OF 33 % TO WOMEN WITHIN RESERVED CATEGORIES FOR THE ALLOTMENT IN CATERING UNITS

n++ In compliance of Budget Announcement 2016-17, a Sub Quota of 33% for women in allotment of each of the reserved catering units is being introduced on Indian Railways in order to extend economic empowerment for women.

n++ Current Status of Reservation at Minor Catering Units (Stalls / Trolleys / Khomchas)

n++ A1, A, B, and C Category stations - 25% of the Units are reserved for various categories like SC (6%), ST (4%), BPL (3%), OBC (3%), Minorities (3%), Freedom Fighters (4%) and Physically Challenged persons (2%).

n++ D, E and F Category stations - 49.5% of the Units are reserved for various categories like SC (12%), ST (8%), OBC (20%) and Minorities (9.5%).

n++ 33% sub quota reservation for women shall ensure allotment of minimum 8% stalls to women at A1, A, B & C category station and minimum 17% at D, E and F category station.

n++ There are approximately 8000 Minor Catering Units over Indian Railways.

n++ Under this provision, Railways shall ensure that women participation does not fall below a specific level.

POLICY GIVING PREFERENCE TO LOCAL DOMICILE HOLDERS FOR COMMERCIAL LICENSES AT STATIONS

In compliance of Budget Announcement 2016-17, a process of giving weightage to district Domicile Holders for commercial licenses at stations is being proliferated at all stations over Indian Railways.

n++ The proliferation would help to build local ownership and rural empowerment along with socio - economic development.

n++ The weightage to district domicile holders is being proliferated for allotment of Catering Units at all categories of stations.

n++ The proliferation of weightage to district Domicile Holders at all category of stations will ensure protection of livelihood of the small vendors.

n++ The allotment of Minor Units over Indian Railways will ensure local ownership and will also promote regional / local cuisine, which is always a preferred choice.

n++ The weightage parameter would range from 20% to the local District Domicile holders to 12% to the State Domicile holders in techno-commercial scores.

TRANSFER OF VACANT BERTHS FOR OPTIMAL UTILISATION OF BERTHS

n++ IR is introducing the facility of transfer of berths remaining vacant after second charting at the train originating station to the next and subsequent stations for clearing the waitlisted passengers at such stations.

n++ The PRS system will automatically allot vacant berths available at the originating stations after preparation of second chart to the subsequent stations where waitlisted passengers are available. The passenger will get SMS on his registered mobile indicating the coach and berth number allotted. This will help passengers boarding at road side stations to get confirmed berths. Presently they get their berths confirmed only if confirmed berths from the pooled quota (PQ) allotted to the station are cancelled.

n++ The TTEs will be able to allot vacant berths on board after departure of the train only upto the next station where quota is available for the train. In case no person boards the train at the next station he can further allot/extend the same to the next quota station.

n++ At present about 3 lakh berths per year go unutilised while there may be demand at intermediate stations. This system will help in better utilization of available berths at the time of departure of trains from the originating station and also reduce the discretion available with TTEs in allotting the berths.

LIBERALISED STATION TO STATION SPECIAL FREIGHT RATES POLICY

n++ Section 32 of the Railways Act, 1989 empowers railway administration to quote Station to Station Rate (STS) in respect of carriage of various commodities.

n++ Railway Board used to issue guidelines to Zonal Railways for implementation of STS rates. Last guidelines on this subject were issued by Board in 2002, which were in operation till 2006. In November 2015, Zonal Railways were advised to exercise power vested with them to quote STS rates as per the Railways Act, 1989.

n++ On request from Zonal Railways and to enable them to garner more traffic from road and other modes, broad guidelines are being issued to Zonal Railways for finalising STS rates.

n++ Salient features of the proposed policy are as under:

n++ Existing as well as new traffic shall be eligible.

n++ Concession shall be granted up to a maximum of 30% on the incremental traffic over and above the benchmark NTKM. Benchmark NTKM is defined as average NTKMs of corresponding periods of previous 24 months.

n++ Concession shall be in the form of percentage discount over the Normal Tariff Rate (NTR). It should be ensured that the concessional freight should not be less than the NTR of Class 100.

n++ Concession shall be admissible to Block rake, two/multi point rake, Mini Rake etc.

n++ Concession may be granted for retention of traffic also up to maximum of 15%. In case of container traffic, STS discount upto maximum of 15% shall be given to commodities charged at Container Class Rate (CCR).

n++ STS scheme will be applicable for all terminals namely goods sheds, sidings, ports, CRTs, PFTOs etc.

n++ To avail STS, Rail users shall be required to apply to the DRM with details, who shall forward the same for approval of GM through CCM, COM and FA&CAO. If Railway administration approves grant of concession under STS, an agreement shall be executed between Railway and customer.

n++ The agreement shall be done for a maximum period of three years at a time and for not less than one year. Any change in freight rate (excluding imposition of any surcharge) shall not be applicable on the customer during the currency of the agreement or for one year, whichever is less.

n++ Commodities excluded from STS are -

o All commodities with classification below Class-100.

o All commodities under Main Commodity Head n++Coal & Coken++

o Iron ore (all types)

o Military traffic, POL and RMC

n++ Targeted customer: Food grain, Cement, Clinker, Dolomite, Limestone, Steel companies, Fly ash, etc.

n++ Expected additional l

Sintex Industries gains after announcing composite scheme of arrangement
Sep 30,2016

The announcement was made after market hours yesterday, 29 September 2016.

Meanwhile, the BSE Sensex was down 23.44 points, or 0.08%, to 27,804.09.

On BSE, so far 8.11 lakh shares were traded in the counter, compared with average daily volume of 9.09 lakh shares in the past one quarter. The stock hit a high of Rs 78.50 and a low of Rs 74.70 so far during the day. The stock hit a 52-week high of Rs 106.45 on 15 October 2015. The stock hit a 52-week low of Rs 62.36 on 12 February 2016. The stock had underperformed the market over the past 30 days till 29 September 2016, falling 2.67% compared with 2.20% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 11.36% as against Sensexs 2.51% rise.

The mid-cap company has equity capital of Rs 52.34 crore. Face value per share is Re 1.

Sintex Industries said that its board approved the composite scheme of arrangement for the demerger of the custom moulding business and the prefab business from Sintex Industries to Sintex-BAPL and Sintex Infra Projects, respectively, each a wholly owned subsidiary of Sintex Plastics Technology. The proposed arrangement will streamline various businesses developed by the group, thereby creating focused leadership and management attention. The scheme also involves issuance of equity shares of Sintex Plastics Technology to the equity shareholders of Sintex Industries such that shareholders of Sintex Industries will effectively get one equity share of Sintex Plastics Technology upon demergers against one equity share held in Sintex Industries and listing of these equity shares of Sintex Plastics Technology on the BSE and the NSE. The transaction is expected to unlock value of shareholders by separating various businesses in different entities.

Sintex Industries consolidated net profit rose 11.45% to Rs 76.03 crore on 16.48% growth in net sales to Rs 1695.25 crore in Q1 June 2016 over Q1 June 2015.

Sintex Industries is a dominant player in the plastics and textile business segments.

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Manpasand Beverages announces closure of QIP issue
Sep 30,2016

Manpasand Beverages announced the outcome of the meeting of QIP committee held on 29 September 2016 -

Declared the closure of QIP on 30 September 2016.

Determined and approved the floor price of Rs 705 per equity share for issuance of 70,92,198 equity shares, to be allotted to eligible QIBs.

Approving and adopting the QIP placement document.

Approving the issue of 70,92,198 equity shares to QIBs.

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Somany Ceramics issue commercial paper aggregating Rs 25 cr
Sep 30,2016

Somany Ceramics has issued Commercial paper of Rs. 25.00 Crore value dated 29 September 2016 having maturity on 09 December 2016.

The aforesaid issuance of commercial paper is to reduce high interest bearing cash credit limits and in turn reducing cost of borrowing.

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