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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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Larsen & Toubro bags export order worth USD 99.7 million
Sep 22,2016

Larsen & Toubro has signed the principle contract with Vietnam Boarder Guard valued at USD 99.7 million for design and construction of high speed patrol vessels in India as well as for transfer of design and technology along with supply of equipment and material kits for construction of follow-on vessels at a Vietnam shipyard.

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RMG Alloy Steel to hold AGM
Sep 22,2016

RMG Alloy Steel announced that the 34th Annual General Meeting(AGM) of the company on 27 September 2016.

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GRUH Finance to hold board meeting
Sep 22,2016

GRUH Finance will hold a meeting of the Board of Directors of the Company on 10 October 2016 to consider and take on record /approve the unaudited financial results for the 2nd quarter/ half year ended September 30, 2016 (Q2), subject to a limited review by the Statutory Auditors.

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Oil E&P stocks gain as crude oil prices rise
Sep 22,2016

Meanwhile, the S&P BSE Sensex was up 205.37 points or 0.72% at 28,712.79.

Cairn India (up 0.44%), Reliance Industries (RIL) (up 1.87%), ONGC (up 0.98%) and Oil India (up 0.62%) gained. Higher crude oil prices would result in increase in realizations from crude sales for oil exploration firms.

In global commodities markets, Brent crude oil futures extended previous sessions gains after report showed a third consecutive weekly drop in US crude oil inventory. Brent for November settlement was up 39 cents at $47.22 a barrel. The contract had advanced 95 cents or 2.07% to settle at $46.83 a barrel during previous trading session. A report from the US Energy Information Administration (EIA) showed a 6.2 million-barrel drop in crude oil inventories last week to 504.6 million barrels. Brent was also lifted by an oil workers strike in Norway, which threatened to cut North Sea crude output.

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ICICI Bank gains on strong demand for ICICI Prudential IPO
Sep 22,2016

Meanwhile, the S&P BSE Sensex was up 234.18 points, or 0.82%, to 28,741.60

On BSE, so far 9.62 lakh shares were traded in the counter, compared with average daily volume of 12.96 lakh shares in the past one quarter. The stock hit a high of Rs 277.50 and a low of Rs 273.40 so far during the day. The stock hit a 52-week high of Rs 292.65 on 16 October 2015. The stock hit a 52-week low of Rs 180.80 on 26 February 2016. The stock had outperformed the market over the past 30 days till 21 September 2016, advancing 7.8% compared with 1.85% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 11.96% as against Sensexs 5.57% rise.

The large-cap company has an equity capital of Rs 1163.66 crore. Face value per share is Rs 2.

The initial public offer (IPO) of ICICI Prudential Life Insurance Company (ICICI Prudential) ended with strong demand from investors. The issue received bids for 138.77 crore shares and it was subscribed 10.48 times. The qualified institutional buyers (QIBs) category was subscribed 11.83 times. The non-institutional investors category, made up of high-net worth individuals, was subscribed 28.55 times. The retail investors category was subscribed 1.42 times. The bidding for the IPO concluded on 21 September 2016. The IPO had opened for bidding on 19 September 2016. The price band for the IPO was Rs 300 to Rs 334 per share.

The IPO comprised sale of up to 18.13 crore equity shares of ICICI Prudential, representing about 12.63% of its equity share capital for cash, through an offer for sale (OFS) by ICICI Bank. The entire proceeds from the OFS will be paid to ICICI Bank.

Ahead of the IPO, ICICI Prudential raised Rs 1635.33 crore by selling 4.89 crore shares to 38 anchor investors. The shares were allotted to the anchor investors at Rs 334 per share, the top end of the Rs 300 to Rs 334 per share price band for the IPO. Anchor investors allotted shares of ICICI Prudential included Morgan Stanley Mauritius Company, Government of Singapore, UTI Trustee Co, SBI Trustee Co, Birla Sun Life Trustee Company among others.

ICICI Prudential is the largest private sector life insurer in India by total premium and assets under management at 31 March 2016.

ICICI Banks net profit fell 24.99% to Rs 2232.35 crore on 6.06% increase in total income to Rs 16759.51 crore in Q1 June 2016 over Q1 June 2015.

ICICI Bank is one of the leading private sector banks in India.

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GAIL (India), IOCL gain after picking stake in upcoming Dhamra LNG terminal
Sep 22,2016

The announcement was made during market hours today, 22 September 2016.

Meanwhile, the BSE Sensex was up 290.38 points, or 1.02%, to 28,797.80.

GAIL (India) rose 1.71% to Rs 393.50. Indian Oil Corporation (IOCL) gained 0.78% to Rs 575.60.

GAIL (India) and IOCL announced signing a memorandum of understanding (MoU) with Dhamra LNG Terminal (DLTPL) for taking equity in the 5 million metric tonnes per annum (MMTPA) capacity liquified natural gas (LNG) receiving, storage and regasification terminal being put up at Dhamra Port, Odisha. As per the MoU, DLTPL shall be an equal joint venture (JV) of IOCL and GAIL (India) on one hand and Adani Group on the other. IOCL and GAIL (India) would acquire 39% and 11% equity respectively in DLTPL with the balance 50% being held by Adani group. Going forward, IOCL and Adani group will each divest 1% of their respective stake to a credible financial institution which will then have 2% stake in the terminal. Apart from equity, IOCL and GAIL (India) intend to book regasification capacity of 3 and 1.5 MMTPA respectively in the terminal.

The development comes in the backdrop of Governments consistent focus on undertaking welfare and growth measures in eastern India so as to bring this hitherto underdeveloped region into the economic mainstream of the country.

Presently, the states in eastern India viz. Odisha, Bihar, Jharkhand and West Bengal are not able to get the benefits of natural gas in sectors like domestic, transport, industries etc., as the region does not have gas infrastructure by way of LNG Terminals and cross-country gas pipeline grid. The LNG Terminal at Dhamra would provide the potential customers in these states a clean and economically viable alternative which will also help in reducing the carbon footprint. This will also provide momentum to the economic growth of this region by attracting new industrial projects.

The LNG Terminal would also meet the gas requirements of three oil refineries of IOCL situated in Barauni, Haldia and Paradip. The three fertilizers plants at Barauni, Sindri and Gorakhpur which are being revived by Govt. of India will also benefit from this terminal. The natural gas from the terminal would also be supplied to various City Gas Distribution networks coming up in eastern India, which in turn would cater to the requirements of piped gas for households, CNG for automobiles and clean fuel requirements of commercial establishments and industries. It is, therefore, expected that once operational, Dhamra LNG terminal will emerge as a bridge to prosperity for the entire eastern India.

GAIL (India)s net profit jumped 244% to Rs 1335.18 crore on 14.6% decline in net sales to Rs 10686.58 crore in Q1 June 2016 over Q1 June 2015.

State-run GAIL (India) is Indias largest natural gas company with a market share of over 80% in natural gas transmission. Apart from natural gas transmission, distribution and processing, GAIL has diversified business interests in LPG transmission, petrochemicals, city gas projects and exploration and production activities. Government of India (GoI) holds 56.11% stake in GAIL (as per shareholding pattern as on 30 June 2016).

IOCLs net profit rose 25.5% to Rs 8268.98 crore on 15.3% fall in net sales to Rs 85655.31 crore in Q1 June 2016 over Q1 June 2015.

IOCL is Indias flagship national oil company, with business interests that straddle the entire hydrocarbon value chain - from refining, pipeline transportation and marketing of petroleum products to exploration & production of crude oil & gas as well as marketing of natural gas and petrochemicals. The Government of India held 58.28% stake in IOCL (as per the shareholding pattern as on 30 June 2016).

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Escorts announces resignation of director
Sep 22,2016

Escorts announced that Dr. S. A. Dave, Independent Director has resigned from the Board of the Company vide his letter dated 20 September 2016.

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Hathway Bhawani Cabletel & Datacom announces resignation of MD & CEO
Sep 22,2016

Hathway Bhawani Cabletel & Datacom announced that Samson Jesudas, Managing Director & Chief Executive Officer, the Key Managerial Personnel, has tendered his resignation with effect from 21 September 2016.

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Inox Leisure intimates of hike in investment limit by FIIs/ RFPIs under PIS
Sep 22,2016

Inox Leisure has announced that the Reserve Bank of India has notified that Foreign Institutional Investors (FIIs)/ Registered Foreign Portfolios Investors (RFPIs) can now invest from existing 24% upto 49% of the paid up capital of the Company under Portfolio Investment Scheme.

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Raymond provides update on subsidiary
Sep 22,2016

Raymond announced that Ring Plus Aqua (RPAL), an unlisted subsidiary of Raymond has entered into a Share Purchase Agreement with Neel Metals Products, to transfer by way of sale its entire equity share holding of 1,04,30,631 equity shares in its 50:50 Joint Venture Company namely; Rose Engineered Products India (ROSE).

Consequent to said transaction ROSE ceases to be an Associate of RPAL and Raymond. The Enterprise Value of ROSE was arrived at Rs. 20.19 crore.

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Mineral Production during July 2016 was 0.8% higher as compared to July 2015
Sep 22,2016

The index of mineral production of mining and quarrying sector for the month of July (new Series 2004-05=100) 2016 at 118.7, was 0.8% higher as compared to July 2015. The cumulative growth for the period April- July 2016-17 over the corresponding period of previous year stands at (+) 2.0%.

The total value of mineral production (excluding atomic & minor minerals) in the country during July 2016 was Rs. 17339 crore. The contribution of Coal was the highest at Rs. 6238 crore (36%). Next in the order of importance were: Petroleum (crude) Rs. 5593 crore, Natural gas (utilized) Rs. 2165 crore, Iron ore Rs. 1347 crore, Limestone Rs. 554 crore and Lignite Rs.535 crore. These six minerals together contributed about 95% of the total value of mineral production in July 2016.

Production level of important minerals in July 2016 were: Coal 442 lakh tonnes, Lignite 30 lakh tonnes, Natural gas (utilized) 2618 million cu. m., Petroleum (crude) 31 lakh tonnes, Bauxite 1972 thousand tonnes, Chromite 177 thousand tonnes, Copper conc. 11 thousand tonnes, Gold 172 kg., Iron ore 115 lakh tonnes, Lead conc. 22 thousand tonnes, Manganese ore 150 thousand tonnes, Zinc conc. 89 thousand tonnes, Apatite & Phosphorite 54 thousand tonnes, Limestone 253 lakh tonnes, Magnesite 17 thousand tonnes and Diamond 3100 carat.

The production of important minerals showing positive growth during July 2016 over July 2015 include Gold (19.4%), Coal (4.7%), Natural gas (utilized) (4.4%), Lead conc. (3.0%), Chromite (2.1%), Manganese ore (1.2%), Iron ore (0.7%) and Limestone (0.3%) . The production of other important minerals showing negative growth are: Apatite & Phosphorite [(-) 72.6%], Zinc conc. [(-) 31.4%], Magnesite [(-) 31.3%], Bauxite [(-) 31.0%], Copper conc. [(-) 16.5%], Diamond [(-) 15.3%], Petroleum (crude) [(-) 1.8%] and Lignite [(-) 1.6%].

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Syngene International scales record high after completing acquisition deal with Strand Life Sciences
Sep 22,2016

The announcement was made after market hours yesterday, 21 September 2016.

Meanwhile, the S&P BSE Sensex was up 268.83 points, or 0.94%, to 28,776.25

On BSE, so far 66,000 shares were traded in the counter, compared with average daily volume of 27,623 shares in the past one quarter. The stock hit a high of Rs 524.45 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 500 so far during the day. The stock hit a 52-week low of Rs 315 on 23 September 2015. The stock had outperformed the market over the past 30 days till 21 September 2016, advancing 13.41% compared with 1.85% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 20.23% as against Sensexs 5.57% rise.

The mid-cap company has equity capital of Rs 200 crore. Face value per share is Rs 10.

Syngene International and Strand Life Sciences, yesterday, 21 September 2016, announced that they have completed a deal through which Syngene International has purchased assets of Strand Life Sciences related to systems biology, Heptox and pharma bioinformatics services. This includes target dossier business and rights to NGS data analytics and Sarchitect platforms, supported by a strong scientific team, as per the joint press release issued by Syngene International and Strand Life Sciences. Financial details of the deal were not disclosed. This deal gives Syngene access to Strands patented Virtual Liver model and the NGS analytics platform. The Virtual Liver model is able to predict the toxic effect of different drugs or chemicals on the liver (both rat and human) using information from laboratorybased experiments prior to actual testing on live animals or humans, the two companies said. Strand NGS is an integrated platform that provides analysis, management and visualization tools for next-generation sequencing data.

Bioinformatics is a rapidly emerging area that promises tremendous growth potential. Companies involved in pharmaceutical, cosmetics, FMCG and agro-biotech R&D have strong focus on genomics, and need sound bioinformatics applications and platforms for developing better therapeutics and products. According to Transparency Market Research, the global bioinformatics market was estimated at $2.3 billion in 2012 and is forecasted to reach a market size of $9.1 billion in 2018, at a CAGR of 25.4%.

Syngene Internationals net profit rose 28.33% to Rs 59.80 crore on 17.92% rise in net sales to Rs 269.20 crore in Q1 June 2016 over Q1 June 2015.

Promoted by Biocon, Syngene International is a leading India-based contract research organization (CRO) offering a suite of integrated and end-to-end discovery and development services for novel molecular entities (NMEs) across industrial sectors. Biocon holds 74.55% stake in Syngene, as per the shareholding pattern as on 30 June 2016.

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Outcome of board meeting of Aayush Food And Herbs
Sep 22,2016

Aayush Food And Herbs announced that the Board of Directors of the Company in their meeting held on 21 September 2016, have recognized Pallavi Mittal and Ashish Mittal as the promoter of the Company upon completion of Open Offer formalities.

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Multi Commodity Exchange of India announces cessation of directors
Sep 22,2016

Multi Commodity Exchange of India announced that further to the proceedings of AGM of the Company held on 19 September 2016 and the voting results thereof submitted to BSE, it may be noted that the following shareholder directors have ceased to be on the Board of MCX from the conclusion of the AGM:

1. Ajai Kumar
2. MAK Prabhu

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Bhushan Steel announces cessation of director
Sep 22,2016

Bhushan Steel announced that Monica Aggarwal who was appointed as an Additional Independent Director of the Company on 03 September 2016 to hold office upto the date of the Annual general meeting, ceased to be director of the Company as she could not be regularised in the said Annual general meeting.

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