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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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Sundaram Multi Pap closes QIP issue
Nov 22,2016

Sundaram Multi Pap announced that in respect of the qualified Institutions Placement, the Board of directors has, at its meeting held on 21 November 2016, interalia, passed a resolution declaring the closure of the Qualified Instituions Placement on 21 November 2016.

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FICCI launches Self-regulation Code of Conduct for the e-pharmacy sector
Nov 22,2016

The Federation of Indian Chambers of Commerce and Industry (FICCI) announced the launch of Self-regulation Code of Conduct for the E pharmacy sector in the presence of key stakeholders here. Accessibility, affordability and lack of awareness are the major challenges for last mile access to medicines. These barriers could be effectively overcome by adopting technology, specifically the Internet, into the healthcare system. Over the last one year, E-pharmacy has come up as a significant channel to provide last mile access to medicines. This will most importantly benefit patients of chronic diseases, elderly patients and sick patients who are not in a condition to go out to find a pharmacy. The E-Pharmacy model provides tracking and traceability of medicines, addressing the problem of counterfeit medicines, consumption of drugs without prescription, tax loss and provides value added services for consumer empowerment in healthcare, which are well aligned with Digital India initiative of our Honourable Prime Minister with a vision to transform the country into a digitally empowered society. The conference started with the release of the Selfregulation Code of Conduct -an attempt by the Industry to adhere to the highest professional standards and to have proper safeguards so as to ensure that consumers health and safety is not compromised.

1. Processing medicines against Prescription Scheduled medicines must be processed only against a valid copy of prescription (physical or scanned copy) of a registered medical practitioner

2. Restriction of Sensitive habit forming medicines E pharmacy must ensure that no schedule X and other sensitive habit forming medicines are processed through their platform. Ensure there are adequate checks and balances in place to prevent sale of any such drugs.

3. Dispensation only from duly licensed pharmacy domiciled in India E Pharmacy must ensure that the medicines are dispensed through licensed pharmacies only. The E pharmacy must make reasonable effort to ensure that all the pharmacy partners (before facilitating the sale of any medicines through such pharmacy partners) are duly registered under the Drugs & Cosmetics Act/ Rules.

4. Convenient access of medicines E-pharmacy player must make suitable arrangements to ensure that the medicines are packed, transported and delivered in such a way that their integrity, quality, and effectiveness are preserved.

5. Public health Initiatives of Government of India E pharmacy players must partner with Government for any recall of medicines and collect adverse events of medicines (consumer reports) and comply to submit them to National Centre for Pharmacovigilance.

6. Customer grievances E pharmacy must ensure that there is a proper mechanism in place to address any queries or grievances that the end-customer may have. E pharmacy players must appoint an ombudsman commission comprising of reputed members of civil society to address any public grievance. The Ombudsman commission shall be appointed for six months by members of the governing council in consultation with other stakeholders.

Didar Singh, Secretary General, FICCI voiced the support of consumer friendly models and mentioned that India needs to move with the times and embrace new age models to stay ahead. Also FICCI has been at the forefront helping many sectors operate with a process of developing self-governance models, and this initiative is a step in the right direction to help enable this sector of the economy

Arvind Gupta, Head of Digital India Foundation said n++we need to embrace technology - in both offline and online models. There is a great opportunity to take this ecosystem ahead by leveraging the India stack using the existing infrastructure of Aadhar and Digi-locker to maintain the repository of prescription, health records and monitor the dispensing of sensitive medicines. All pharmacies, online or offline, should check prescriptions on this lockern++

Noted consumer activist, Bejon Mishra, welcomed the initiative and re-iterated that there is no difference between e-Pharmacy and offline pharmacy, and both should operate with compliance and maintain proper records and dispense with prescription. He also congratulated the effort of the association to come up with progressive self-regulation framework and suggested that there be mechanisms put in place to make sure this is adhered to.

Prashant Tandon, CEO and Founder of 1mg mentioned that this group of progressive epharmacies have come up with code of conduct in the interest of consumers and as a group they look forward to productive engagement with the regulator to help make the Indian pharmacy sector a model sector.n++

Pawan Kaul, Co-Chair of FICCI e-commerce committee added that n++by recognising and registering the legitimate e pharmacies, Government can easily address the challenges by maintaining sanctity of both IT act and Drug and Cosmetic Act. This will bring effectiveness and efficiency in the entire ecosystem.n++

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Bhageria Industries gets revision in credit ratings for bank facilities
Nov 22,2016

Bhageria Industries has received revision in credit ratings from CARE as follows -

Bank Facilities - Fund based - LT (Rs 6.42 crore) - CARE BBB (assigned)
Bank Facilities - Fund based - LT (Rs 105 crore) - CARE BBB (reaffirmed)
Bank Facilities - Fund based - ST (Rs 40.58 crore) - CARE A3+ (assigned)
Bank Facilities - Non Fund based - ST (Rs 8 crore) - CARE A3+ (assigned)

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Board of Lloyd Rock Fibers appoints company secretary and compliance officer
Nov 22,2016

The Board of Lloyd Rock Fibers at its meeting held on 21 November 2016 has appointed Neetu Varshney as Company Secretary with effect from 21 November 2016. Neetu Varshney has been appointed as Compliance Officer in place of Gaurav Punj with effect from 21 November 2016. The board has accepted the resignation of A C Sharma from post of Director with effect from 18 November 2016.

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Shoppers Stop gains after opening of M.A.C store
Nov 22,2016

With the opening of the latest store, the company has now 41 M.A.C doors under its operations, Shoppers Stop said. The announcement was made during market hours today, 22 November 2016.

Meanwhile, the S&P BSE Sensex was up 64.18 points or 0.25% at 25,829.32

Meanwhile, a bulk deal of 3 lakh shares was executed on the counter at Rs 295 per share at 09:51 IST on BSE. Bulk deal boosted volume on the Shoppers Stop scrip. On BSE, so far 3.42 lakh shares were traded in the counter as against average daily volume of 933 shares in the past one quarter. The stock hit a high of Rs 301 and a low of Rs 292 so far during the day. The stock hit a 52-week high of Rs 422 on 23 December 2015. The stock hit a 52-week low of Rs 290.15 on 21 November 2016. The stock had underperformed the market over the past 30 days till 21 November 2016, sliding 19.59% compared with the 8.23% decline in the Sensex. The scrip also underperformed the market in past one quarter, declining 19.54% as against Sensexs 7.95% decline.

The small-cap company has an equity capital of Rs 41.75 crore. Face value per share is Rs 5.

Shoppers Stops net profit fell 11.06% to Rs 10.69 crore on 7.14% growth in net sales to Rs 939.53 crore in Q2 September 2016 over Q2 September 2015.

Shoppers Stop runs department stores that sell apparel, cosmetics and fashion accessories.

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Shoppers Stop gains after opening of MAC store
Nov 22,2016

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

Meanwhile, the S&P BSE Sensex was up 64.18 points or 0.25% at 25,829.32

Meanwhile, a bulk deal of 3 lakh shares was executed on the counter at Rs 295 per share at 09:51 IST on BSE. Bulk deal boosted volume on the Shoppers Stop scrip. On BSE, so far 3.42 lakh shares were traded in the counter as against average daily volume of 933 shares in the past one quarter. The stock hit a high of Rs 301 and a low of Rs 292 so far during the day. The stock hit a 52-week high of Rs 422 on 23 December 2015. The stock hit a 52-week low of Rs 290.15 on 21 November 2016. The stock had underperformed the market over the past 30 days till 21 November 2016, sliding 19.59% compared with the 8.23% decline in the Sensex. The scrip also underperformed the market in past one quarter, declining 19.54% as against Sensexs 7.95% decline.

The small-cap company has an equity capital of Rs 41.75 crore. Face value per share is Rs 5.

With the opening of the latest store, the company has now 41 MAC doors under its operations, Shoppers Stop said. MAC stands for Make-up Art Cosmetics. MAC is a leading brand of professional cosmetics, created in Toronto, Canada in 1984 to support the special needs of professional makeup artists - a collection of colors, products and tools that meet the demanding lighting and studio conditions under which the pros work.

Shoppers Stops net profit fell 11.06% to Rs 10.69 crore on 7.14% growth in net sales to Rs 939.53 crore in Q2 September 2016 over Q2 September 2015.

Shoppers Stop runs department stores that sell apparel, cosmetics and fashion accessories.

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Shalimar Paints jumps on bargain hunting
Nov 22,2016

Meanwhile, the BSE Sensex was up 57.51 points, or 0.22%, to 25,822.65.

On BSE, so far 23,000 shares were traded in the counter, compared with average daily volume of 47,645 shares in the past one quarter. The stock hit a high of Rs 129 and a low of Rs 120.20 so far during the day. The stock hit a record high of Rs 223.60 on 23 August 2016. The stock hit a 52-week low of Rs 88.70 on 12 February 2016. The stock had underperformed the market over the past 30 days till 21 November 2016, falling 38.50% compared with the 8.23% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 41.07% as against Sensexs 7.95% decline.

The small-cap company has equity capital of Rs 3.79 crore. Face value per share is Rs 2.

Shalimar Paints announced during market hours yesterday, 21 November 2016, that there has been a fire accident in one of the plants of the company at Gonde Dumala village, Igatpuri, Nasik on 19 November 2016. There has been no loss or injury to human life. The company is in the process of ascertaining the actual loss caused by the fire and also is in process of informing the same to the insurance company, Shalimar Paints said. The company is taking adequate steps to ensure re-functioning of the plant at the earliest, it said.

Following the announcement, shares of Shalimar Paints slumped 15.02% to Rs 121.40 yesterday, 21 November 2016.

Shalimar Paints net profit rose 95.97% to Rs 2.43 crore on 0.11% increase in total income to Rs 103.15 crore in Q2 September 2016 over Q2 September 2015.

Shalimar Paints is Indias iconic paint-maker. Established in 1902, the countrys first paint company is a pioneer in the field of paints and coatings.

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Gartner Says Indias Digital Commerce Players Needs to Find a Sustainable Growth Model
Nov 22,2016

Digital commerce sales in India have remained flat, so digital commerce companies need to identify a sustainable growth model that can be achieved in a defined timeframe, according to Gartner, Inc. One of the challenges was that leading marketplaces cut back on promotions and discounts after the regulation banning price competition came out in March 2016.

Digital commerce is at an early stage in India, and consumers are value-conscious, so they are enticed when there are big promotions and steep discounts. said Gene Alvarez, managing vice president at Gartner. However, sales stalled once incentives were not present, challenging the performance of digital commerce players. This is partially a result of the continuous discounts at online marketplaces that are competing fiercely to gain market share, and which sets them to an incentive-driven growth model.

None of the digital commerce companies in India are profitable. They typically earn between 5-15 percent commissions of product sales, but the massive discounts on top of the investment needed to expand to more geographies saw those companies losing money. This can be a serious problem when the capital market tightens up.

The problem is being neglected when there is plenty of funding, and companies can live off sufficient capital. Once the market tightens, it is a survival game that only those that watch the bottom line and cash flows will win in the end, said Mr. Alvarez, There is a need to go back to the basics, that is, to operate on a sustainable growth model. Of which, customer experience and data-driven incentives are two fundamental factors.

Customer Experience: This is the most important differentiator of a digital commerce service as price becomes transparent across sites. Discounts will only retain customers as long as the promotion lasts, while good customer experience will make people come back and purchase more even when there is no promotion. Good customer experience will also entice new customers as word-of-mouth spreads, and visitors experience the service themselves. Customer experience goes beyond a frictionless shopping experience on the website or in the mobile app, and includes delivery, custom service, returns, retail discovery, customer ratings and reviews.

Data-driven incentives: Promotions and discounts are still important techniques to drive sales. However, they need to have positive return on investments (ROIs). Businesses can not only recover the cost of incentives but also make a profit. This requires businesses to personalize incentives based on shoppers profiles and purchasing propensity, and only give out the amount that is enough to trigger a purchase but not too much to lose money. This capability takes time to build as it requires data analytics and personalization technologies, built on the data collected about the shoppers.

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Volumes jump at Shoppers Stop counter
Nov 22,2016

Shoppers Stop clocked volume of 3.42 lakh shares by 13:43 IST on BSE, a 586.92-times surge over two-week average daily volume of 1,000 shares. The stock rose 1.44% to Rs 298.60.

Wim Plast notched up volume of 12.24 lakh shares, a 258.90-fold surge over two-week average daily volume of 5,000 shares. The stock rose 1.3% to Rs 1,415. A large bulk deal of 12.01 lakh shares was executed on the scrip at Rs 1,370 per share in early trade on BSE.

UPL saw volume of 6.22 lakh shares, a 6.67-fold surge over two-week average daily volume of 93,000 shares. The stock dropped 2.71% to Rs 591.50.

Kotak Mahindra Bank clocked volume of 5.49 lakh shares, a 2.75-fold surge over two-week average daily volume of 2 lakh shares. The stock rose 0.23% to Rs 764.25.

Castrol India saw volume of 2.27 lakh shares, a 1.92-fold rise over two-week average daily volume of 1.18 lakh shares. The stock rose 0.3% to Rs 386.

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Bliss GVS Pharma sweetens after overseas order win
Nov 22,2016

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

Meanwhile, the S&P BSE Sensex was up 58.85 points or 0.23% at 25,823.99

On BSE, so far 1.05 lakh shares were traded in the counter as against average daily volume of 1.03 lakh shares in the past one quarter. The stock hit a high of Rs 125.80 and a low of Rs 117.50 so far during the day. The stock had hit a 52-week high of Rs 201.30 on 27 November 2015. The stock had hit a 52-week low of Rs 79 on 17 June 2016. The stock had underperformed the market over the past 30 days till 21 November 2016, sliding 24.03% compared with the 8.23% decline in the Sensex. The scrip also underperformed the market in past one quarter, declining 11.12% as against Sensexs 7.95% decline.

The small-cap company has equity capital of Rs 10.31 crore. Face value per share is Re 1.

Bliss GVS Healthcare, the Kenyan step down subsidiary of Bliss GVS Pharma, has won a three year contract worth $111.40 million from Aon Kenya Insurance Brokers, for provision of Medical Healthcare Services in Kenya. This contract covers outpatient services for over 3.04 lakh members. This medical cover is to be managed by Aon Kenya Insurance Brokers will benefit the principle contributor, his/her spouse and up to four children, the company said.

Bliss GVS Pharma said the medical cover provides for dental, optical on an out-patient basis and for maternity. The service payments will be received by the company from Aon, in advance, on a quarterly basis, the company said. Part payment for the first quarter payment has been received by the company, it added.

Bliss GVS Pharmas consolidated net profit fell 40.76% to Rs 13.65 crore on 6.72% decline in total income to Rs 171.35 crore in Q2 September 2016 over Q2 September 2015.

Bliss GVS Pharma is a fast-growing pharmaceutical company with a proven track record of developing, manufacturing and marketing high quality pharmaceutical formulations at affordable prices for the global market.

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Vardhman Textiles grants stock options
Nov 22,2016

Vardhman Textiles announced that the Nomination and Remuneration Committee in its meeting held on 15 November 2016 has approved to grant 6,04,500 Employee Stock Options to the eligible employees under Vardhman Textiles Limited Employee Stock Option Plan 2016, exercisable into not more than 6,04,500 fully paid-up equity shares in the Company in aggregate of face value of INR 10 (Rupees Ten) each.

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Board of Responsive Industries to consider September quarter and half year results
Nov 22,2016

Responsive Industries announced that the meeting of the Board of Directors of the Company is scheduled to be held on 01 December 2016, inter alia, to consider and approve Unaudited Financial Results of the Company for the quarter & half year ended 30 September 2016.

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Gartner Says Public Cloud Services in India Forecast to Reach $1.3 Billion in 2016
Nov 22,2016

The public cloud services market in India is on pace to grow 35.9 percent in 2016 to total $1.3 billion, according to Gartner, Inc. The highest growth will come from cloud system infrastructure services (infrastructure as a service [IaaS]), which is projected to grow 45.5 percent in 2016, followed by platform as a service (PaaS) projected to grow 33.5 percent (see Table 1).

The overall global public cloud market will mature, and its growth rate will slightly slow down from 17.2 percent in 2016 to a 15.2 percent increase in 2020, said Sid Nag, research director at Gartner. While Brexit and other growth challenges exist, some segments such as financial SaaS applications and the PaaS user markets will still see strong growth through 2020.

Table 1. India Public Cloud Services Forecast (Millions of U.S. Dollars)

201520162017201820192020Cloud Business Process Services (BPaaS)7187112144186239Cloud Application Services (SaaS)2973955246718191,000Cloud Application Infrastructure Services (PaaS)80107140181229286Cloud System Infrastructure Services (IaaS)3334857211,0451,4642,016Cloud Management and Security Services80104134168206249Cloud Advertising96123158189223266Total9571,3011,7902,3983,1264,055

Source: Gartner (November 2016) 

As buyers intensify and increase IaaS activity, they will be getting more for their investment: ongoing enhancement of performance, more memory, more storage for the same money (which will drive increases in consumptions) and increased automation in traditional IT outsourcing (ITO) delivery, said Mr. Nag.

As PaaS offerings mature and the competitive landscapes consolidates, we predict that more organizations will consider expanding their PaaS adoption as an important component to their cloud strategy, and specifically to their SaaS deployments, added Mr. Nag.

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Vedanta to issue NCDs aggregating Rs 300 crore
Nov 22,2016

Vedanta announced that a the meeting of the Committee of Directors was held on 22 November 2016, approving offering for subscription, on private placement basis, up to 3000 Secured, Rated, Listed, Redeemable, Non-Convertible Debentures of face value of Rs 10 lakh each aggregating Rs 300 crore.

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OECD GDP growth accelerates to 0.6% in third quarter of 2016
Nov 22,2016

Real growth of gross domestic product (GDP) in the OECD area picked up markedly to 0.6% in the third quarter of 2016, compared with 0.3% in the previous quarter, according to provisional estimates.

Growth accelerated in most Major Seven economies in the third quarter of 2016, with the exception of the United Kingdom and Germany, where growth slowed to 0.5% and 0.2%, respectively, compared with 0.7% and 0.4% in the previous quarter.

In the United States, growth accelerated to 0.7% in the third quarter of 2016, following a rate of 0.4% in the previous quarter. Growth also picked up in Japan, to 0.5%, compared with 0.2% in the previous quarter, and in Italy and France (to 0.3% and 0.2%, respectively, compared with 0.0% and minus 0.1% in the previous quarter).

In the European Union and in the euro area, growth was stable at 0.4% and 0.3%, respectively.

Year-on-year GDP growth for the OECD area was 1.7% in the third quarter of 2016, marginally up from 1.6% in the previous quarter. Among Major Seven economies, the United Kingdom (2.3%) and Germany (1.7%) recorded the highest annual growth rates, while Japan registered the lowest (0.8%).

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