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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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Arihant Foundations & Housing to hold AGM
Sep 17,2016

Arihant Foundations & Housing announced that the Annual General Meeting (AGM) of the company will be held on 30 September 2016.

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Sampre Nutritions to hold AGM
Sep 17,2016

Sampre Nutritions announced that the Annual General Meeting (AGM) of the company will be held on 29 September 2016.

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MOU signed between the Government of India and the AfDB for hosting the Banks Annual Meetings at Ahmedabad
Sep 17,2016

India will be hosting the next Annual Meetings of the African Development Bank (AfDB) Group at Mahatma Gandhi Convention Centre, Ahmedabad from May 22 to May 26, 2017. This will be a mega international event to be attended by more than 5000 delegates from 80 member countries of the African Development Bank including the Governors, Alternate Governors, Executive Directors, policy makers and businesses.

A MoU was signed between GoI and AfDB today regarding the holding of the Annual Meetings. The MoU outlines the roles of Govt of India and AfDB. The signatories to the MoU were Ms. Bandana Preyashi, Deputy Secretary (ADB-II/AfDB), Department of Economic Affairs(DEA), Ministry of Finance on behalf of the Government of of India and Mr Vincent O. Nmehielle, Secretary General of AfDB on behalf of the African Development Bank Group (AfDB).

The African Development Bank (AfDB) was established in 1963 with a view to promote the Economic Development and social progress of its regional members. India became member of the African Development Bank (AfDB) in 1983. The Union Finance Minister and Secretary, Department of Economic Affairs (DEA), Ministry of Finance are the Governor and Alternate Governor of the Bank respectively.

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Railway PSU RITES Achieves Highest Ever Total Income of Rs. 1294 Crore, Higher by 11% Over The Previous Year
Sep 17,2016

RITES, a schedule A, Mini Ratna Enterprise under the Ministry of Railways has achieved highest ever total income of Rs. 1294 crore,in financial year 2015-16 higher by 11 percent over the previous financial year. It also recorded the highest ever profit after tax of Rs. 339 crore against Rs. 306 crore in the previous year. RITES achieved these results despite severe competition from domestic and foreign consultancy companies. The company is expected to get Excellent rating in its MOU performance based on the financial results for the year. RITES continues to maintain its key position in transport and infrastructure sectors despite stiff competition. The growth in the business and excellent financial results has led to the dividend payout for the year to Rs. 136 crore, which is 136% of the paid up share capital of the company. This is the highest ever dividend paid so far by the Company. The company has also announced issue of bonus shares to the existing shareholders in the ratio of 1 share for every 2 shares held.

One of the key achievements during the year had been the export of broad gauge modern passenger coaches to Bangladesh Railways out of the order of 120 broad gauge coaches secured by the company during last year. RITES also bagged a contract for the supply of 18 MG diesel electric locomotives to Myanma Railways.

In India, RITES has recently secured two major turnkey projects from the Ministry of Railways, for the third line in Pendra Road- Anuppur section of Bilaspur division of South East Central Railway and Gooty- Dharmavaram doubling works for South Central Railway. RITES is also involved in mega transportation projects like dedicated freight corridors, metros, high speed rail studies, logistics parks, rail infrastructure and green energy etc.

With positive scenario for investments in railways and other infrastructure sectors, the company sees high growth in the coming years.

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Ministry of Tourism Approves Projects of Rs. 500 Crore for Jammu & Kashmir
Sep 17,2016

The Central Sanctioning and Monitoring Committee (CSMC) chaired by Union Tourism Secretary Shri Vinod Zutshi for the Swadesh Darshan Scheme has approved projects to the tune of Rs. 500 Crore as part of Development Package of Prime Minister Reconstruction Plan (PMRP) for integrated development of tourism in Jammu and Kashmir.

New projects include Integrated Development of Tourist facilities at Mantalai - Sudhmahadev - Patnitop Circuit for Rs.99.99 Crore, Baramulla-Kupwara-Leh circuit for Rs.99.98 Crore, Rajouri - Bafliyaz - Shopian - Pulwama Circuit for Rs.99.99 Crore and Anantnag-Kishtwar- Pahalgam - Daksum - Ranjit Sagar Dam Circuit for Rs.99.75 Crore. In addition, Rs. 99.99 Crore has been approved for integrated development of tourist facilities in lieu of damaged assets in the floods.

The projects envisage tourist infrastructural development in Jammu and Kashmir. Highlights of the project involve developing a Convention Centre in Gulmarg and Patnitop, development of Ethnic Villages, Development of Water Sports Centre at Baghliyar Dam - Pool Doda. Other major intervention proposed in the circuits include last mile connectivity, tourist facilitation/interpretation centre, base camps for trekking, facilitation centre for pilgrims for Amarnath Yatra, Sound and Light Show at Shalimar Bag, illumination of heritage structures, provision of eco friendly vehicles, Enhancement of tourist facilities at golf courses across the state.

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SAR Auto Products to hold AGM
Sep 17,2016

SAR Auto Products announced that the 29th Annual General Meeting (AGM) of the company will be held on 29 September 2016.

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Prudential Sugar Corporation to hold board meeting
Sep 17,2016

Prudential Sugar Corporation will hold a meeting of the Board of Directors of the Company on 24 September 2016, to adopt the Audited Accounts of the Company for the Financial Year ended 31 March 2016

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Pashupati Cables to hold AGM
Sep 17,2016

Pashupati Cables announced that the 22nd Annual General Meeting (AGM) of the company will be held on 30 September 2016.

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Mather & Platt Fire Systems to hold EGM
Sep 17,2016

Mather & Platt Fire Systems announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 17 October 2016.

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Maris Spinners to hold AGM
Sep 17,2016

Maris Spinners announced that the 37th Annual General Meeting (AGM) of the company will be held on 16 September 2016.

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Triumph International Finance India to hold AGM
Sep 17,2016

Triumph International Finance India announced that the Annual General Meeting (AGM) of the company will be held on 23 September 2016.

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Draft Bill of Major Port Authorities Act, 2016 uploaded on Ministrys Website for Comments from Various Stakeholders
Sep 17,2016

The Ministry of Shipping has prepared a draft Bill n++Major Port Authorities Act, 2016n++ to replace the Major Port Trusts Act, 1963. With a view to promote the port infrastructure and facilitate trade and commerce. The proposed bill aims at giving more autonomy and flexibility to the major Ports and to bring in professional approach in their governance. This will help to impart faster and transparent decision making which will benefit the stakeholders.

The proposed Bill was earlier uploaded on the website of the Ministry of Shipping for receiving comments from various stakeholders. Based on the suggestions/comments from the stakeholders, the draft Bill has been modified and uploaded in the Ministry of Shippings website. The salient features of the new Bill are:

(a) Composition of board has been simplified. The board will consist of 10 members including 3 to 4 independent members instead of 17-19 under the present Port Trust Model. Provisions has been made for inclusion of 3 functional heads of Major Ports as Members in the Board apart from a Government Nominee Member and a Labour Nominee Member.

(b) The regulation to tariff by TAMP has been removed. Future PPP operators will be free to fix tariff based on market conditions and notify the Port Authority. The Board of the Port Authority has been delegated the power to fix the scale of rates for other port services and assets like land.

(c) Port related and non -port related use of land has been defined. A distinction has been made between these two usages in terms of approval of leases. The Port Authorities are empowered to lease land for Port related use for upto 40 years and for non-port related use upto 20 years beyond which the approval of the Central Government is required. For PPP projects the tenure of the lease of land would be as per the PPP policy of the Government.

(d) The need for Government approvals for raising loans, appointment of consultants, execution of contracts and creation of service posts have been dispensed with. The Board of Port Authority have been delegated power to raise loans and issue security for the purpose of capital expenditure and working capital requirement.

(e) Concept of internal audit of the functions and activities of the Central Ports has been introduced on the lines of Companies Act, 2015.

(f) An independent Review Board has been proposed to be created to carry out the residual function of the erstwhile TAMP for Major Ports, to look into disputes between ports and PPP concessionaires, to review stressed PPP projects and suggest measures to review stressed PPP projects and suggest measures to revive such projects and to look into complaints regarding services rendered by the ports/private operators operating within the ports would be constituted. At present, there is no independent body to look into the above aspects and the Review Board will reduce the extent of litigation between PPP Operators and Ports.

(g) Provisions of CSR & development of infrastructure by Port Authority have been introduced.

(h) The status of Port Authority will be deemed as local authority under the provisions of the General Clauses Act, 1887 & other applicable Statutes so that it could prepare appropriate regulations in respect of the area within the port limits to the exclusion of any Central, State of local laws.

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JNPT Commences Holding Yard Operations
Sep 17,2016

Jawaharlal Nehru Port Trust (JNPT), Indias No.1 Container Port, has commenced the holding yard operations in a six-hectare land at JNPCT (Jawaharlal Nehru Port Container Terminal) approach roads to further ease out congestion and streamline the traffic to the terminal. This holding yard, which has been developed within the centralized parking plaza, will be utilized for parking Tractor Trailers (TT) awaiting the final documentation.

Commencement of holding yard at JNPCT is already showing results and has reduced the congestion by 90% at the port gate roads. 600 TTs can be accommodated in this holding area at one time. EXIM traders are largely benefitting in saving fuel, logistics cost and improved truck turnaround time as well as number of trips made by a tractor trailer in a day has also increased. The yard operation ensures free movement at the JNPCT approach roads which will help in better planning of TT movements. This area is developed as pay & park facility for trucks. Concessional parking rates have been offered at the yard is Rs. 60 & Rs. 70 for every 8 hours stay for 20 and 40 containers respectively.

TTs will be allowed to move to Terminal Gate only after receiving required clearance of all the documents or proper ticket clearing. TTs coming directly from CFSs with all clear documents will be allowed directly to Terminal Gate and TTs, which do not have clear documents including PIN number, will be diverted to Holding Yard. The undocumented factory stuffed containers which generally park on roads approaching to port area causing traffic congestion, will now be confined to holding yard and better traffic ensures that risk of shut out of export containers are eliminated.

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Kharif Crop Sowing Crosses Lakh 1059 Hectare Areas
Sep 17,2016

The total sown area as on 16th September, 2016 as per reports received from States, stands at1059.48 lakh hectare as compared to 1022.61 lakh hectare at this time last year.

n++n++n++n++n++n++n++n++n++n++It is reported that rice has been sown/transplanted in 382.00 lakh ha, pulses in 144.96 lakh ha, coarse cereals in188.62 lakh ha, oilseeds in 188.33 lakh ha, sugarcane in 45.77 lakh hectare and cotton in 102.23 lakh ha.

n++n++n++n++n++n++n++n++n++n++n++n++n++The details of the area covered so far and that covered during this time last year are given below:

n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++ n++Lakhn++hectaren++

CropArea sown in 2016-17Area sown in 2015-16Rice382.00371.74Pulses144.96112.43Coarse Cereals188.62182.70Oilseeds188.33183.21Sugarcane45.7749.60Jute & Mesta7.577.73Cotton102.23115.20Total1059.481022.61

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MoU target setting exercise entrusted to DPE for the year 2016-17 completed
Sep 17,2016

The MoU target setting exercise entrusted now to the Department of Public Enterprises (DPE) for the year 2016-17 has been completed through consultation process with the participation of administrative Ministry, NITI Aayog and Ministry of Programme Implementation. This exercise involved holding of 518 meeting in 118 days (83 working days) by holding meetings even on holidays. The MoU target fixed included Maharatna, Navratna, Miniratna and other CPSEs totaling 234. Another 140 CPSEs were exempted due to various reasons which include being a subsidiary company where their output have been taken in the main CPSEs, CPSEs under closure, CPSEs yet to start operations and CPSEs under construction.

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