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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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Prerna Infrabuild announces change in registered office
Sep 28,2016

Prerna Infrabuild announced that the registered office of the Company has been changed as under:

Old Address: 6th Floor, Doctor House, C G Road, Ahmedabad - 380006

New Address: PRERNA, Survey No. 820/1, In Lane of Panchvati Auto, Opp. Ananddham Derasar, S.G. Road, Ahmedabad-380058.

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Arrow Greentech gets patent for Destructive Irreversible Security Packaging Film
Sep 28,2016

Arrow Greentech has received one more United States Patent Office (USPTO) Patent grant titled Self Destructive Irreversible Security Packaging Film Patent No. 9421575 from the United States Patent Office.

The invention relates to a self-destructive irreversible security packaging water soluble film and method for manufacturing the same. The water soluble packaging film is embedded with various security elements, and this security feature will get destroyed irreversibly upon final usage as the whole package along with its contents, one the package is dissolved in water. This process of self destruction will control the duplication of package or alteration of the product inside the package. This invention will help in brand protection of many multinational and transnational Agro-Chemical companies, FMCG companies and cosmetic industry.

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Fluidomat fixes record date for dividend
Sep 28,2016

Fluidomat has fixed record date of 26 September 2016 for dividend of Rs 2.50 per share. The dividend shall be paid on or after 03 October 2016.

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Religare Enterprises gets ratings assigned for secured LT debentures
Sep 28,2016

Religare Enterprises announced that India Ratings & Research, vide its letter dated 27 September 2016, has communicated IND AA-/Stable rating for Companys Rs. 1422 crore (enhanced from Rs. 722 crore) secured long term debentures.

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DPE issues guidelines to expedite the process for clousure of CPSEs
Sep 28,2016

Department of Public Enterprises (DPE), Ministry of Heavy Industries & Public Enterprise has recently issued guidelines to expedite the process for closure of CPSEs so that all administrative Ministries would follow uniform procedure for closure of the CPSEs. Earlier, DPE had issued guidelines for n++streamlining the mechanism for revival and restructuring of sick/ incipient sick and weak Central Public Sector Enterprises: General principles and mechanism of restrictingn++. As per these guidelines, the CPSEs were to be categorized into strategic and non-strategic and revival/restructuring strategy was prescribed. However, there are certain CPSEs in non-strategic sector which have no scope for revival and are to be closed in a time bound manner. Since there are employees working in these CPSEs, Government decided that closure should not cause hardship to them and has now laid down a uniform policy to give workers VRS at 2007 notional pay scale irrespective of the pay scale in which they are working.

The guidelines also prescribe the modalities for disposal of movable assets and immovable assets. The guidelines prescribe that leasehold land would be dealt as per the terms of the lease and freehold land would be offered in following order of priority:-

(i) Central Government Departments.

(ii) Central Government bodies/CPSEs.

(iii) State Government Departments.

(iv) State Government bodies/State PSEs/State authorities.

In case the above categories are not interested in taking the land for six months, then the land would be auctioned through MSTC to any entity so that it can be put to productive use.

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New Coal Distribution Policy amended to increase annual cap of coal through State Nominated Agencies and amend phrase of Small and Medium Sector
Sep 28,2016

Union Ministry of Coal has issued an order with respect to the amendment to the New Coal Distribution Policy (NCDP), 2007 to increase the annual cap of coal from 4200 tonnes per annum for sale through State Nominated Agencies (SNA) to 10,000 tonnes per annum. In addition to raising the annual cap of coal, the Ministry has also amended the phrase, small and medium sector, as mentioned in the NCDP to small, medium and others.

The Ministrys order issued yesterday states that the above guidelines will also stand applicable to the distribution of coal from Singareni Collieries Company (SCCL).

The NCDP was issued vide Ministry of Coal Office Memorandum No. 23011/4/2007-CPD dated 18th October, 2007, laying down the guidelines for distribution and pricing of coal to various sectors. As per the policy, the scope of coverage through State Nominated Agencies was increased up to 4200 tonnes per annum.

There have been requests from consumers and state governments for reconsideration of guidelines as mentioned in NCDP, 2007 for upward revision of annual cap on coal through SNAs and also for amending the condition of the small and medium sector to include other sectors where annual coal requirement is very low.

The rationale for the amendment, as cited in the order, is that only small and medium sector consumers, having requirement less than 4200 tonnes per annum were entitled to take coal through SNA, large units having requirement of less than 4200 tonnes per annum were not recommended for coal by the District Industries Centre (DIC). Moreover, the limit of requirement of less than 4200 tonnes per annum needed to be revised as small units might have expanded over a period of time.

As adequate quantity of coal at notified price through SNA would be available for this sector , this amendment is seen as one of the many steps taken by the Government to improve ease of doing business in the country and make more coal available for the small , medium and other sectors.

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Mangalore Chemicals jumps after shareholders reject transaction with Zuari Agro
Sep 28,2016

Meanwhile, the BSE Sensex was up 73.87 points, or 0.26%, to 28,297.57.

On BSE, so far 1.26 lakh shares were traded in the counter, compared with average daily volume of 9,905 shares in the past one quarter. The stock hit a high of Rs 51.90 and a low of Rs 44 so far during the day. The stock hit a 52-week high of Rs 58.50 on 20 June 2016. The stock hit a 52-week low of Rs 35.30 on 15 February 2016. The stock had underperformed the market over the past 30 days till 27 September 2016, falling 0.34% compared with 1.15% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 16.74% as against Sensexs 5.55% rise.

The small-cap company has equity capital of Rs 118.52 crore. Face value per share is Rs 10.

Shareholders of Mangalore Chemicals and Fertilisers, in annual general meeting yesterday, 27 September 2016, rejected transaction with Zuari Agro Chemicals. Shareholders, however, approved appointment of Suresh Krishnan as managing director of Mangalore Chemicals and Fertilisers.

Zuari Fertilisers and Chemicals, the wholly-owned subsidiary of Zuari Agro Chemicals, held 53.03% stake in Mangalore Chemicals and Fertilisers as of 30 June 2016. Its shareholding increased from 16.47% to 53.03% in 2015 after acquisition of shares through open offer.

Mangalore Chemicals & Fertilizers reported net loss of Rs 8.36 crore in Q1 June 2016 as against net loss of Rs 212.24 crore in Q1 June 2015. Net sales declined 26.89% to Rs 554.66 crore in Q1 June 2016 over Q1 June 2015.

Mangalore Chemicals and Fertilizers is the largest manufacturer of chemicals fertilizers in Karnataka. The company with its wide range of products that include Urea, Di-Ammonium Phosphate, Muriate of Potash, Granulated Fertilizers, Micronutrients, Soil Conditioners and Specialty Fertilizers, touches and enriches the lives of farmers across Southern India.

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Marathon Nextgen Realty spurts as shares to begin trading on NSE
Sep 28,2016

The announcement was made during market hours today, 28 September 2016.

Meanwhile, the S&P BSE Sensex was up 72.45 points, or 0.26% to 28,297.52

On BSE, so far 9,479 shares were traded in the counter as against an average daily volume of 10,786 shares in the past one quarter. The stock hit a high of Rs 261 and a low of Rs 245.05 so far during the day. The stock had hit a 52-week high of Rs 297 on 12 August 2018. The stock had hit 52-week low of Rs 107.33 on 28 September 2015. The stock had underperformed the market over the past 30 days till 27 September 2016, falling 11.98% compared with 1.15% rise in the Sensex. The scrip, however, outperformed the market in past one quarter, gaining 9.86% as against Sensexs 5.55% rise.

The small-cap company has equity capital of Rs 28.44 crore. Face value per share is Rs 10.

Marathon Nextgen Realtys consolidated net profit rose 60.11% to Rs 15.05 crore on 86.61% rise in total income to Rs 24.39 crore in Q1 June 2016 over Q1 June 2015.

Marathon Nextgen Realty is a Mumbai-based company engaged in real estate development business.

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Assistance to cities to improve energy use efficiency to tap Rs.6,000 cr saving potential per year
Sep 28,2016

Ministry of Urban Development has embarked on a major programme to improve energy use efficiency in bulk water supply, public lighting, transportation and domestic consumption in cities and towns across the country. The Ministry today signed a Memorandum of Understanding with the Energy Efficiency Services, a public sector enterprise in this regard.

The MoU was signed in the presence of the Minister of Urban Development Shri M.Venkaiah Naidu, Minister of Power, New and Renewable Energy Sources and Coal Shri Piyush Goyal and Shri Rajiv Gauba, Secretary (Urban Development).

Shri Naidu said that energy audit and improving energy use efficiency is one of the mandated reforms under Atal Mission for Rejuvenation and Urban Transformation (AMRUT) and this initiative would help the cities significantly. n++This will substantially reduce costs of operation of water supply schemes and public lighting and will benefit citizensn++ Shri Naidu said.

Shri Piyush Goyal said that n++EESL has done a great job over the last one year in promoting energy use efficiency programmes across the country and has done much better than private sector. EESL will ensure supply of latest technology for municipal programmesn++.

In the MoU, it has been stated that energy costs account for 40% to 60% of cost of water supply in urban areas and energy efficiency interventions can reduce this cost by 25% to 40%, depending on the type and age of machines being used for bulk water supply. Quoting Central Electricity Authority (CEA) it has been stated that urban local bodies can save about Rs.6,000 cr per year through such interventions in water supply and public lighting alone besides avoiding the need for 1,150 MW of power.

Savings in water supply is said to be Rs.3,200 cr and 600 MW of power while it would be Rs.2,800 cr and 550 MW in case of public lighting per year. Emission of Carbon Dioxide, a climate change agent is estimated to be reduced by over 7 million tonnes per year.

Necessary interventions would be undertaken by EESL without any financial burden on urban local bodies as cost of the proposed Municipal Energy Efficiency Programmes would be borne from out of the savings. MoU states that performance contracting offers a mechanism for urban local bodies to finance these projects without upfront investment.

As per the MoU, EESL will develop overall strategy for taking up Energy Efficient Projects in urban areas and to start with, will take up implementation of energy efficient pump sets in public water works and sewage systems to be followed by similar interventions for public lighting, public transport systems and buildings.

Cities selected under Smart City Mission would be targeted first to be followed by AMRUT cities and others in a phased manner.

Ministry of Urban Development would facilitate signing of agreements between the State Governments, urban local bodies and EESL for conducting Investment Grade Energy Audit, preparation of technical reports and for implementation after the reports are approved.

EESL will provide or arrange project funding for implementation as required and will procure latest technological equipment and materials in a transparent manner besides ensuring repair and maintenance services for the goods installed by it.

It has been proposed in the MoU that after selection of cities, Investment Grade Energy Audit will be prepared by EESL in six months and after approval, project will be implemented in nine months from the date of signing of tri-partite agreement.

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Bajaj Finance allots NCDs aggregating Rs 387.40 cr
Sep 28,2016

Bajaj Finance has allotted 3874 Secured Redeemable Non-Convertible Debentures of face value of Rs 10 lakh each on Private Placement basis aggregating Rs 387.40 crore on 27 September 2016.

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Mohit Industries announces resignation of director
Sep 28,2016

Mohit Industries announced that Dharmesh Vinodraj Patel, Non-Executive Independent Director of the Company has resigned as a Director of the Company with effect from 12 September 2016 due to his other commitments and personal reasons.

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Kellton Tech Solutions allots equity shares
Sep 28,2016

Kellton Tech Solutions has allotted equity shares to the employees pursuant to Section 62(1)(b) of the Companies Act, 2013, Companies (Share Capital and Debentures) Rules, 2014, SEBI (Share Based Employee Benefits) Regulations, 2014 and as per the Employees Stock Option Scheme, 2013, on 28 September 2016.

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Brijlaxmi Leasing & Finance to hold AGM
Sep 28,2016

Brijlaxmi Leasing & Finance announced that the 25th Annual General Meeting(AGM) of the company on 26 September 2016.

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Bajaj Finserv to hold board meeting
Sep 28,2016

Bajaj Finserv will hold a meeting of the Board of Directors of the Company on 27 October 2016 to consider, the unaudited financial results for the quarter and half-year ending September 30, 2016 (Q2).

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Bajaj Finance to hold board meeting
Sep 28,2016

Bajaj Finance will hold a meeting of the Board of Directors of the Company on 27 October 2016 to take on record the unaudited financial results for the quarter and half year ending September 30, 2016 (Q2).

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