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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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Vitan Agro Industries hits roof as board to consider disinvestment of subsidiary
Dec 21,2016

The announcement was made after market hours yesterday, 20 December 2016.

Meanwhile, the BSE Sensex was up 29.59 points, or 0.11%, to 26,337.57.

On the BSE, so far 605 shares were traded in the counter, compared with average daily volumes of 17,065 shares in the past one quarter. The stock opened with an upward gap of 20% at Rs 19.65 and remained stuck at that level so far.

The stock hit a 52-week high of Rs 24.30 on 24 November 2016. The stock hit a 52-week low of Rs 10 on 7 July 2016. The stock had underperformed the market over the past 30 days till 20 December 2016, falling 7.08% compared with the 2.11% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 13.68% as against Sensexs 7.72% decline.

The small-cap company has equity capital of Rs 8.35 crore. Face value per share is Re 1.

Vitan Agro Industries said that a meeting of board of directors of the company will be held on 28 December 2016 to consider, approve and take on record, inter-alia, the disinvestment of 100% paid up-share capital of Amirdham Food, a wholly-owned subsidiary of the company, among other items.

Net profit of Vitan Agro Industries declined 15.4% to Rs 0.11 on 59.2% decline in net sales to Rs 0.69 crore in Q2 September 2016 over Q2 September 2015.

Vitan Agro Industries makes agro based products. It is engaged in the business of trading of pulses, grains, spices, edible oil, agarbattis and agro-based fast moving consumer goods.

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Godrej Consumer turns volatile after completing acquisition in Kenya
Dec 21,2016

The announcement was made after market hours yesterday, 20 December 2016.

Meanwhile, the S&P BSE Sensex was up 32.69 points or 0.12 % at 26,340.67.

On the BSE, 1,569 shares were traded on the counter so far as against the average daily volumes of 8,184 shares in the past one quarter. The stock was volatile. The stock rose as much as 3.23% at the days high of Rs 1,494.90 so far during the day. The stock lost as much as 0.36% at the days low of Rs 1,442.75 so far during the day.

The stock had a hit record high of Rs 1,710 on 16 September 2016 and a 52-week low of Rs 1,120 on 27 January 2016. The stock had outperformed the market over the past one month till 20 December 2016, advancing 1.88% compared with the Sensexs 0.6% rise. The scrip had, however, underperformed the market over the past one quarter declining 11.47% as against the Sensexs 7.77% fall.

The large-cap company has equity capital of Rs 34.06 crore. Face value per share is Rs 1.

Charm Industries is a manufacturing company incorporated in Kenya. This acquisition helps Charm Industries to scale up wet hair care business in East Africa using the strength of nature brands. The acquisition comes into force with immediate effect. The consideration for the acquisition was payable in cash.

Godrej Consumer Products consolidated net profit rose 43.7% to Rs 318.12 crore on 11.4% rise in net sales to Rs 2357.52 crore in Q2 September 2016 over Q2 September 2015.

Godrej Consumer Products is one of the leading fast moving consumer goods (FMCG) companies in India.

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Outcome of board meeting of Minda Corporation
Dec 21,2016

Minda Corporation announced that the Board of Directors of the Company at its meeting held on 20 December 2016 approved the following resolutions -

ESOP subject to approval of shareholders.

Authorisation to issue commercial papers upto Rs 25 crore.

Amendment in the terms and conditions for redemption of 0.001% Cumulative Redeemable Preference Shares subject to approval of shareholders.

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Prithvi Softech renamed as Prithvi Exchange (India)
Dec 21,2016

Prithvi Softech announced that the name of the Company has been changed from Prithvi Softech to Prithvi Exchange (India) vide fresh certificate of incorporation from ROC, Chennai.

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Vascon Engineers sells investment in Viorica Hotels
Dec 21,2016

Vascon Engineers announced that as approved by the Board in its meeting held on 13 December 2016, the investment in shares of Viorica Hotels has been sold for Rs. 15,60,61,291 on 21 December 2016.

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Welspun Corp advances after large bulk deal
Dec 21,2016

Meanwhile, the S&P BSE Sensex was up 63.91 points, or 0.24%, to 26,371.89

Bulk deal boosted volume on the scrip. On the BSE, 64.32 lakh shares were traded on the counter so far as against the average daily volumes of 1.62 lakh shares in the past one quarter. The stock had hit a high of Rs 83.40 and a low of Rs 77 so far during the day.

The stock hit a 52-week high of Rs 118 on 28 December 2015. The stock hit a 52-week low of Rs 56 on 9 November 2016. The stock had outperformed the market over the past 30 days till 20 December 2016, rising 7.96% compared with the 2.11% rise in the Sensex. The scrip had also outperformed the market in past one quarter, falling 1.89% as against Sensexs 7.72% decline.

The small-cap company has an equity capital of Rs 132.61 crore. Face value per share is Rs 5.

On a consolidated basis, Welspun Corp reported net loss of Rs 33.64 crore in Q2 September 2016, as compared with net profit of Rs 88.15 crore in Q2 September 2015. Net sales declined 44.61% to Rs 1153.06 crore in Q2 September 2016 over Q2 September 2015.

Welspun Corp is a one-stop service provider offering complete pipe solutions.

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Jubilant Life Sciences gains on bargain hunting
Dec 21,2016

Meanwhile, the BSE Sensex was up 55.88 points, or 0.21%, to 26,363.86.

On the BSE, so far 42,000 shares were traded in the counter, compared with average daily volumes of 1.51 lakh shares in the past one quarter. The stock had hit a high of Rs 618.50 and a low of Rs 605.95 so far during the day.

The stock hit a record high of Rs 726.40 on 1 December 2016. The stock hit a 52-week low of Rs 272.50 on 20 January 2016. The stock had underperformed the market over the past 30 days till 20 December 2016, falling 1.81% compared with the 2.11% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, falling 4.83% as against Sensexs 7.72% decline.

The mid-cap company has equity capital of Rs 15.93 crore. Face value per share is Re 1.

Shares of Jubilant Life Sciences fell 7.28% in three trading sessions to settle at Rs 596.30 yesterday, 20 December 2016, from its close of Rs 643.15 on 15 December 2016.

The stock fell 3.92% to Rs 596.30 yesterday, 20 December 2016, after the company announced a price increase of up to 15% for its Beta Picoline, 3-Cyanopyridine and vitamin B3 (Niacin & Niacinamide) with immediate effect, for non-contract customers and wherever existing contracts permit. The announcement was made during trading hours yesterday, 20 December 2016.

On a consolidated basis, net profit of Jubilant Life Sciences rose 14.52% to Rs 144.77 crore on 5.16% decline in net sales to Rs 1359.70 crore in Q2 September 2016 over Q2 September 2015.

Jubilant Life Sciences is an integrated global pharmaceutical and life sciences company engaged in pharmaceuticals, life science ingredients and drug discovery solutions.

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MPF Systems announces change in registered office
Dec 21,2016

MPF Systems announced that Registrar of Companies pursuant to the members approval as per section 13 of the Companies Act, 2013 approved the change of Registered Office of the Company from Greaves Compound, Chinchwad works Bombay - Pune Road, Chinchwad (E) Pune to 108, Prime Plaza, J.V. Patel Compound, B.M.Road, Elphinstone (W) Mumbai-400013.

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Usha Martin gets downgrade of long term issuer ratings
Dec 21,2016

Usha Martin announced that India Rating and Research has downgraded the Company Long-term Issuer Rating from existing IND BBB to IND BBB- and removed it from Rating Watch Negative.

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Oriental Carbon inches up after commencing production at unit
Dec 21,2016

The announcement was made after market hours yesterday, 20 December 2016.

Meanwhile, the S&P BSE Sensex was up 44.86 points or 0.17% at 26,352.84.

On the BSE, 768 shares were traded on the counter so far as against the average daily volumes of 2,216 shares in the past one quarter. The stock was volatile. The stock rose as much as 1.43% at the days high of Rs 800 so far during the day. The stock lost as much as 0.46% at the days low of Rs 785.05 so far during the day.

The stock had a hit record high of Rs 860 on 10 November 2016 and a 52-week low of Rs 385 on 26 Febraury 2016. The stock had outperformed the market over the past one month till 20 December 2016, advancing 4.78% compared with the Sensexs 0.6% rise. The scrip had also outperformed the market over the past one quarter rising 14.58% as against the Sensexs 7.77% fall.

The small-cap company has equity capital of Rs 10.30 crore. Face value per share is Rs 10.

Oriental Carbon & Chemicals announced that it has commissioned/started the commercial production, ahead of schedule, on 20 December 2016, of the first phase of 5,500 metric tonnes per annum capacity of its project for expansion of insoluble sulphur production capacity at special economic zone (SEZ) at Mundra, Gujarat.

Oriental Carbon & Chemicals net profit rose 13.5% to Rs 14.69 crore on 1.3% decline in net sales to Rs 68.81 crore in Q2 September 2016 over Q2 September 2015.

Oriental Carbon & Chemicals is one of the market leaders in the production of insoluble sulphur for the tyre and rubber industry around the world.

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RCom firms on reports of likely tower deal with Brookfield Group
Dec 21,2016

Meanwhile, the BSE Sensex was up 37.84 points, or 0.14%, to 26,345.82.

On the BSE, so far 4.60 lakh shares were traded in the counter, compared with average daily volumes of 16.09 lakh shares in the past one quarter. The stock had hit a high of Rs 36.45 and a low of Rs 35.50 so far during the day.

The stock hit a 52-week high of Rs 91.80 on 1 January 2016. The stock hit a record low of Rs 34.35 on 24 November 2016. The stock had underperformed the market over the past 30 days till 20 December 2016, falling 4.37% compared with the 2.11% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 26.67% as against Sensexs 7.72% decline.

The mid-cap company has equity capital of Rs 1,244.49 crore. Face value per share is Rs 5.

According to reports, The Brookfield Group is set to sign a definitive agreement with Reliance Communications (RCom) this week to buy a majority stake in the Anil Ambani-controlled telecoms companys tower unit for about Rs 11000 crore.

On 11 October 2016, RCom had announced signing of a non-binding term sheet with Brookfield Infrastructure Group (Brookfield) in relation to the proposed acquisition of RComs nationwide tower assets and related infrastructure by Brookfield. Under the Term Sheet, the specified assets are intended to be transferred from Reliance Infratel (RITL) on a going concern basis into a separate special purpose vehicle (SPV), to be owned by Brookfield. RCom will continue as an anchor tenant on the tower assets, under a long term MSA, for its integrated telecommunications business. RCom will receive an upfront cash payment of Rs 11000 crore from the proposed transaction. RCom will also enjoy 49% future economic upside from the towers business, based on certain conditions. RCom had stated that it intended to utilize the proceeds of the proposed transaction solely to reduce its debt.

On a consolidated basis, net profit of Reliance Communications declined 80% to Rs 39 crore on 3.36% decline in net sales to Rs 5090 crore in Q2 September 2016 over Q2 September 2015.

RCom is an integrated telecommunications service provider.

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RCom firms on reports of likely tower deal with Brookfield Group
Dec 21,2016

Meanwhile, the BSE Sensex was up 37.84 points, or 0.14%, to 26,345.82.

On the BSE, so far 4.60 lakh shares were traded in the counter, compared with average daily volumes of 16.09 lakh shares in the past one quarter. The stock had hit a high of Rs 36.45 and a low of Rs 35.50 so far during the day.

The stock hit a 52-week high of Rs 91.80 on 1 January 2016. The stock hit a record low of Rs 34.35 on 24 November 2016. The stock had underperformed the market over the past 30 days till 20 December 2016, falling 4.37% compared with the 2.11% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 26.67% as against Sensexs 7.72% decline.

The mid-cap company has equity capital of Rs 1,244.49 crore. Face value per share is Rs 5.

According to reports, The Brookfield Group is set to sign a definitive agreement with Reliance Communications (RCom) this week to buy a majority stake in the Anil Ambani-controlled telecoms companys tower unit for about Rs 11000 crore.

On 11 October 2016, RCom had announced signing of a non-binding term sheet with Brookfield Infrastructure Group (Brookfield) in relation to the proposed acquisition of RComs nationwide tower assets and related infrastructure by Brookfield. Under the Term Sheet, the specified assets are intended to be transferred from Reliance Infratel (RITL) on a going concern basis into a separate special purpose vehicle (SPV), to be owned by Brookfield. RCom will continue as an anchor tenant on the tower assets, under a long term MSA, for its integrated telecommunications business. RCom will receive an upfront cash payment of Rs 11000 crore from the proposed transaction. RCom will also enjoy 49% future economic upside from the towers business, based on certain conditions. RCom had stated that it intended to utilize the proceeds of the proposed transaction solely to reduce its debt.

On a consolidated basis, net profit of Reliance Communications declined 80% to Rs 39 crore on 3.36% decline in net sales to Rs 5090 crore in Q2 September 2016 over Q2 September 2015.

RCom is an integrated telecommunications service provider.

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Datamatics Global Services hits 52-week high as Insync Capital Partners LLP buys shares
Dec 21,2016

Meanwhile, the S&P BSE Sensex was up 51.50 points, or 0.2%, to 26,359.48

On the BSE, 8.48 lakh shares were traded on the counter so far as against the average daily volumes of 1.43 lakh shares in the past one quarter. The stock had hit a high of Rs 124.70 and a low of Rs 119.20 so far during the day.

The stock hit a high of Rs 124.70 in intraday trade so far, which is 52-week high for the counter. The stock hit a low of Rs 119.20 so far during the day. The stock hit a 52-week low of Rs 41.15 on 29 February 2016.

The stock had outperformed the market over the past 30 days till 20 December 2016, rising 51.74% compared with the 2.11% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 48.95% as against Sensexs 7.72% decline.

The small-cap company has an equity capital of Rs 29.47 crore. Face value per share is Rs 5.

Insync Capital Partners LLP bought 2.95 lakh shares of Datamatics Global Services at an average price of Rs 102.08 per share in a bulk deal on BSE yesterday, 20 December 2016. Insync Capital Partners LLP sold 153 shares of the company at an average price of Rs 113.10 per share in a bulk deal on BSE yesterday, 20 December 2016. Amrita Vidur Bhogilal was seller to the tune of 5 lakh shares at an average price of Rs 102.08 per share in the bulk deal on BSE yesterday, 20 December 2016.

Insync Capital Partners LLP is a Limited Liability Partnership firm incorporated in 2009. Designated Partners of the company are Utpal Hemendra Sheth, Amitabh Sonthalia, Rakesh Radheyshyam Jhunjhunwala and Rekha Jhunjhunwala.

On a consolidated basis, Datamatics Global Services net profit rose 367.26% to Rs 21.12 crore on 7.31% increase in net sales to Rs 212.88 crore in Q2 September 2016 over Q2 September 2015.

Datamatics Global Services is a global provider of consulting, information technology (IT) and business process outsourcing (BPO) services.

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IRB Infrastructure Developers provides update on Ahmedabad Vadodara Super Express Tollway project
Dec 21,2016

IRB Infrastructure Developers announced that pursuant to the measures approved by the Cabinet Committee on Economic Affairs (CCEA) for revival of the construction sector directing government agencies to pay 75% of the arbitral award amount against Bank Guarantee where government agencies have challenged the arbitral award; IRB Ahmedabad Vadodara Super Express Tollway- Wholly owned subsidiary of the Company (IRBAV), has received from NHAI Rs. 20.55 Crore against the Bank Guarantee submitted by IRBAV as part of 75% of the Arbitral Award amount pronounced by the Arbitral Tribunal.

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Tepid gains at Wall Street
Dec 21,2016

U.S. stocks advanced tepidly on Tuesday, 20 December 2016 with investors somewhat reluctant to make big bets in a preholiday week while the main benchmarks were sitting near all-time highs set last week. The gains were led by a rally in bank stocks, though the Dow Jones Industrial Average finished just below the psychologically important 20,000 level. Both the Dow and Nasdaq Composite Index closed at fresh all-time highs, with the S&P 500 index falling just short of its own record.

The Dow climbed 90.95 points, or 0.5%, to 19,974.14. The S&P 500 index closed up 4.46 points, or 0.2% at 2,262.53, with eight of the 11 main sectors finishing in positive territory. The Nasdaq Composite Index ended the session higher, up 20.28 points, or 0.4% to 5,457.44.

Telecom shares led the gainers, followed by real estate and technology sectors. Energy shares, which are among the best performers this year, pulled back. Nike and Goldman Sachs Group led the blue-chip benchmark.

After a mild knee-jerk reaction to news of the assassination of the Russian ambassador to Turkey, markets resumed their climb to close modestly higher.

Trading volumes were thinner than usual, with the New York Stock Exchange reporting volume at 60% of the 30-year average.

On the M&A front, Freds agreed to acquire 865 Rite Aid stores for $950 million in cash. The transaction more than doubled Freds store footprint, sending its shares higher by 81.1%.

The ICE U.S. dollar index which compares the greenback against a half-dozen rivals, rose 0.1% to 103.24, after touching an intraday high of 103.65. Gains left the index on track to close at its highest since December 2002.

Bullion prices ended in a mixed mode on Tuesday, 20 December 2016. Gold returned to its losing ways on Tuesday, settling lower as a leading dollar index revived its run to fresh 14-year highs. Silver settled higher. Because a stronger greenback makes dollar-priced gold less attractive to investors using other currencies, gold for February delivery settled down $9.10, or 0.8%, to $1,133.60 an ounce. Despite the recent weakness, gold and silver are poised for their first yearly gains since 2012. Gold is headed for a roughly 6% gain for 2016.

March silver settled up 2.8 cents, or 0.2%, at $16.12 an ounce, after trading lower earlier in the session. Silver looks ready to post its largest yearly advance since 2010, up more than 16% so far after a loss of almost 12% in 2015. The decline for futures for yellow metal brought the contract below last weeks settlement of $1,129.80, the lowest since early February. Earlier in the session, gold hit an intraday low of $1,127.30 an ounce.

Crude-oil prices finished higher on Tuesday, 20 December 2016 at Nymex scoring a third straight session of gains, ahead of weekly supply updates on U.S. inventories. Trading volume has been light in the run-up to seasonal holidays in December.

West Texas Intermediate crude oil for February delivery, the most-active contract, rose 24 cents, or 0.5%, higher to settle at $53.30 a barrel. The January contract which expires Tuesday, finished up 11 cents, or 0.2%, at $52.23 a barrel. February Brent crude on Londons ICE Futures exchange added 43 cents, or 0.8%, to close at $55.35 a barrel. The contract has been up seven of the last nine trading sessions.

The Treasury market ended on a mostly lower note with the 10-yr yield rising two basis points to 2.56% while the 2-yr yield held unchanged at 1.22%.

Investor participation was above average with nearly 970 million shares changing hands at the NYSE floor.

Tomorrow, the weekly MBA Mortgage Index will be released at 7:00 ET while November Existing Home Sales (consensus 5.50M) will be reported at 10:00 ET.

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