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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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Kanel Industries to hold AGM
Sep 14,2016

Kanel Industries announced that the 24th Annual General Meeting (AGM) of the company will be held on 30 September 2016.

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XL Energy to hold AGM
Sep 14,2016

XL Energy announced that the 29th Annual General Meeting (AGM) of the company will be held on 30 September 2016.

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Reliance Capital gains after board approves independent listing of home finance business
Sep 14,2016

The announcement was made yesterday, 13 September 2016, when stock market remained closed on account of Bakri Id.

Meanwhile, the S&P BSE Sensex was down 46.19 points or 0.16% at 28,307.35.

On BSE, so far 6.75 lakh shares were traded in the counter as against average daily volume of 5.01 lakh shares in the past one quarter. The stock hit a high of Rs 561.50 and a low of Rs 546.65 so far during the day. The stock had hit a 52-week high of Rs 574 on 9 September 2016. The stock had hit a 52-week low of Rs 303.60 on 12 February 2016. The stock had outperformed the market over the past one month till 12 September 2016, rising 21.96% compared with 0.71% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 32.06% as against Sensexs 6.45% rise.

The large-cap company has equity capital of Rs 252.63 crore. Face value per share is Rs 10.

Reliance Capital said the independent listing of Reliance Home Finance (RHF) is expected to unlock substantial value for existing shareholders of Reliance Capital. The listing of Reliance Home Finance will also lead to increased management focus and accelerated growth in the home finance business. As per the proposal, 49% stake in Reliance Home Finance Limited will be allotted to all shareholders of Reliance Capital, in the ratio of one share free of cost in Reliance Home Finance for every one share held in Reliance Capital.

Reliance Capital will hold a 51% stake in Reliance Home Finance, and the company will be adequately capitalised to grow the lending book to over Rs 20000 crore in the next 18 months. The proposal is subject to necessary shareholders and other approvals. Reliance Home Finance, a 100% subsidiary of Reliance Capital, provides a wide range of loan solutions like home loan, LAP, construction finance and affordable housing loans. The company reported an AUM of Rs 8259 crore ($1.2 billion) during the quarter ended 30 June 2016.

Mr. Anmol A. Ambani, Director, Reliance Capital said Prime Minister, Narendra Modi has set a goal of affordable housing for all by 2022. There is presently an estimated shortage of 10 crore residential units in India. To address the needs of this sector, Reliance Home Finance has charted an aggressive growth plan in this space, and aims to increase its book size to over Rs 50000 crore in the next few years.

On a consolidated basis, Reliance Capitals net profit rose 3% to Rs 207 crore on 48.3% growth in total income to Rs 3663 crore in Q1 June 2016 over Q1 June 2015.

Reliance Capital, a part of the Reliance Group, is one of Indias leading private sector financial services companies.

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Volumes jump at Vardhman Textiles counter
Sep 14,2016

Vardhman Textiles clocked volume of 2.26 lakh shares by 13:14 IST on BSE, a 147.51-times surge over two-week average daily volume of 2,000 shares. The stock rose 1.16% at Rs 987.50.

Sobha notched up volume of 3.77 lakh shares, a 31.42-fold surge over two-week average daily volume of 12,000 shares. The stock was down 2.56% at Rs 292.50.

Bajaj Corp saw volume of 7.05 lakh shares, a 25.34-fold surge over two-week average daily volume of 28,000 shares. The stock lost 0.01% at Rs 400.55.

Gitanjali Gems clocked volume of 12.48 lakh shares, a 11.09-fold surge over two-week average daily volume of 1.13 lakh shares. The stock was locked at 20% upper circuit at Rs 57.40 after consolidated net profit rose 188.2% to Rs 57.40 crore on 30.4% growth in net sales to Rs 3710.43 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours on Monday, 12 September 2016. The stock market was closed yesterday, 13 September 2016 for a holiday.

Aksharchem (India) saw volume of 1.83 lakh shares, a 9.61-fold rise over two-week average daily volume of 19,000 shares. The stock was locked at 10% upper circuit at Rs 389.05.

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PTC India Financial Services announces cessation of nominee director
Sep 14,2016

PTC India Financial Services announced that Radhakrishanan Nagarajan has ceased to be the Nominee Director of PTC India from the Board of the PTC India Financial Services Ltd (PFS) w.e.f. 12 August 2016 consequent to the withdrawal of the nomination.

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Lambodhara Textile enters into lease agreement with two mills
Sep 14,2016

Lambodhara Textile announced that the Company is entering into Lease Agreement with, Suriya Spinning Mills Unit B and Sri Akkamma Textiles to utilize their spare capacity of 3,024 spindles and 6,048 spindles respectively for conversion of fiber into yarn. The said conversion of fiber into yarn is to commence from November 2016. This will enhance the spinning capacity of the Company and will have an impact on the overall performance of the Company.

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Sunil Hitech Engineers secures housing project worth Rs 415 crore
Sep 14,2016

Sunil Hitech Engineers has been awarded order worth Rs 415 crore in te State of Bihar from Bihar State Housing Board under Government of Bihar for construction of 1054 Flats on 16.50 acres of land at Dalpatpur, District Ara in the State of Bihar including complete infrastructure development.

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TCPL Packaging completes new unit for of Flexible Packaging materials
Sep 14,2016

TCPL Packaging has completed setting up its new Unit for manufacturing of Flexible Packaging materials at Dapada, Silvassa, in the Union Territory of Dadra and Nagar Haveli and the same has been inaugurated on 14 September 2016.

The unit is now ready for commencing trial production.

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ABB India commissions state-of-the-art shore-to-ship power supply system
Sep 14,2016

In line with the government of Indias Project Green Ports project, ABBIndia has commissioned a state-of-the-art solution for shore-to-ship power supply for ships at the V.O.Chidambaranar Port, formerly the Tuticorin Port.

This solution expands the scope of the green agenda beyond renewable power to technology, which will enable ships docking at a port to plug for power instead of running on polluting diesel generators and using expensive power.

The existing infrastructure at the port, which entailed usage of generators by the ships, was upgraded with the ABBs state-of-the-art Shore to Ship supply system. The scope includes the proven PCS100 based StaticFrequency Converter (SFC) with the associated electricals. The PCS100 SFC end to end solution is engineered for the demanding port applications with a modular construction, overload capability and powerflow control in either direction using the advanced ABB technology.

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Suzlon Energy drops after reverse turnaround in Q1
Sep 14,2016

The result was announced yesterday, 13 September 2016, when stock market remained closed on account of Bakri Id.

Meanwhile, the S&P BSE Sensex was down 32.51 points, or 0.11%, to 28,321.03.

More than usual volumes were witnessed on the counter. On BSE, so far 62.86 lakh shares were traded in the counter, compared with an average daily volume of 43.11 lakh shares in the past one quarter. The stock hit a high of Rs 16.60 and a low of Rs 15.65 so far during the day. The stock hit a 52-week high of Rs 25.25 on 2 November 2015. The stock hit a 52-week low of Rs 12.80 on 12 February 2016. The stock had outperformed the market over the past one month till 12 September 2016, rising 4.23% compared with 0.71% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 0.29% as against Sensexs 6.45% rise.

The mid-cap company has equity capital of Rs 1004.88 crore. Face value per share is Rs 2.

Suzlon Energys total income dropped 36.81% to Rs 1668.94 crore in Q1 June 2016 over Q1 June 2015. The companys order book stands at 1,250 megawatts (MW) valued at Rs 7657 crore as on 30 June 2016. The consolidated customer advance stood at over Rs 1000 crore. The 55% of order book is resulting from new products, company added.

The Q1 June 2016 result is not directly comparable to Q1 June 2015 as Q1 June 2015 result included exceptional one time gain of Rs 1289 crore and one month of Senvion performance.

The Suzlon Group is one of the leading renewable energy solutions providers in the world with an international presence across 19 countries. The company has recently forayed into the solar space.

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Moderating Retail Inflation Raises Monetary Easing Hopes; Poor IIP Reflects Sluggish Investment
Sep 14,2016

The sharp fall in retail inflation in August 2016 has accentuated the rate cut proposition in the next quarter itself. However, it should be taken with a pinch of salt as a large part of food inflation is structural in nature, says India Ratings and Research (Ind-Ra). The retail inflation for August 2016 at 5.05%, came in lower than Ind-Ras expectation of 5.30%, primarily driven by a sharp decline in food prices.

This has made the central banks target of bringing retail price inflation down to 5.0% by March 2017 achievable; however, it may be early to rejoice given the baffling behaviour of retail inflation in the past. The cyclical components either aggravate or soften it as is evident from the movement in wholesale prices. Wholesale food price inflation was 5.3% during FY96-FY05 but increased to 9.2% during FY06-FY16. Clearly, the fight on the inflation front, particularly food inflation, is far from over.

Ind-Ra further opines the industrial growth will not return to a sustained and high growth path so long as excess capacity in the manufacturing sector remains and private sector investment cycle does not revive. The Index of Industrial Production (IIP) contracted 2.4% in July 2016 as against the growth of 2.0%yoy in June and was much lower than Ind-Ras expectation of 1.2%.

The agency believes scope for the Reserve Bank of Indias (RBI) action on rate front appears skewed towards December policy review than October 2016, although the sharp fall in inflation from 6.1% in July 2016 is likely to accentuate the expectation of rate cut in the October policy review itself. The maturity of large FCNR B (foreign currency non-resident) deposits worth USD26bn, which is coming due in the next two months, is likely to be the litmus test for the currency as well as for the RBI. Moreover, the RBI would have better clarity on the retail inflation trajectory for the last quarter of the fiscal, US electoral outcomes and Federal Reserve rate trajectory by December 2016.

The IIP data for July has further reinforced the volatility in factory output. The IIP growth had turned positive in February and March 2016 but turned negative in April 2016. IIP witnessed a broad-based weakness in July 2016 with sharp growth moderation in mining and electricity, while manufacturing output (75.5% weight in IIP) contracted 3.4% in July 2016 (June: 0.7% yoy). The disconnect between IIP and industrial gross value added (GVA) data is making it increasingly difficult to discern the sectoral as well as overall industrial and manufacturing output growth trend.

Manufacturing growth according to IIP data was negative 0.8% while GVA in manufacturing was 9.1% in 1QFY17. It is true that the two are strictly not comparable as the former measures output while the latter measures value added. Nevertheless, such a divergence is inexplicable and, increasingly, IIP is failing to measure the manufacturing or industrial growth in the economy. The base year used for IIP calculation is 2004-05, while industrial GVA is based on 2011-12 prices. The use of 2004-05 means a lot of data relating to industrial/manufacturing output is not captured by the IIP.

At the use-base level, capital goods output continued its negative trend. Capital goods output contracted 29.6% yoy in July 2016 against a contraction of 16.3% yoy in June 2016. This reinforces the lacklustre investment demand in the economy. Basic and intermediate goods continued with the positive trend but growth rates moderated to 2.0% (June: 5.8%) and 3.4% (June: 5.7%) in July 2016. Consumer durables maintained the positive growth trend. Consumer non-durables contracted 1.7% yoy in July 2016 after the modest growth of 0.9% in the previous month. The positive growth in June 2016 was a deviation from the seven months of consecutive negative growth in consumer non-durables. This is reflective of the volatility evident in the overall IIP.

Retail food price inflation moderated to 5.9% in August 2016 from 8.4% in July 2016 led by a sharp-to-moderate fall in the prices of vegetables and pulses. Food prices in the previous months (April-July 2016) had remained above 6% primarily due to high inflation in fruits, vegetables and pulses. Vegetable prices moderated to 1.0% in August from 14.0% in July 2016. Prices of pulses moderated to 22.0% in August 2016 from 27.5% in the previous month. Sugar and fruits prices, however, increased to 24.8% (July: 21.9%) and 4.5% (July: 3.5%). Services inflation showed a slight uptick to 4.2% from 4.0% in July 2016 led by higher inflation in the personal care category (August: 8.3%; July: 7.3%).

The agency believes that last weeks unidirectional rally appears to have priced in benign inflation data, thus limiting scope for an incremental rally. Moreover, the spread between policy rate and overall yield curves have narrowed down sharply to 25bp-75bp from 75bp-125bp, owing to the INR1trn open market operation purchase, thus limiting scope for a sharp fall in yield. On the other hand, an uptick in global bond yields will likely keep the domestic market more submissive.

Amid global volatility in capital markets, the domestic currency has been anchored strongly on the back of a surge in investment flows in recent months and a benign current account balance. The low inflation would further solidify the fundamental state of the rupee. So, on a fundamental basis, the rupee is poised to benefit from the improved macroeconomic condition, but transitory volatility will emanate from a potential action by central banks in the developed economies.

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Gitanjali Gems hits 52-week high after strong Q1 earnings
Sep 14,2016

The result was announced after market hours on Monday, 12 September 2016. The stock market was closed yesterday, 13 September 2016 for a holiday.

Meanwhile, the S&P BSE Sensex was down 12.49 points or 0.04% at 28,341.05.

On BSE, so far 12.42 lakh shares were traded in the counter as against average daily volume of 1.24 lakh shares in the past one quarter. The stock hit a high of Rs 57.40 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 51.50 so far during the day. The stock had hit a record low of Rs 29.95 on 1 March 2016. The stock had outperformed the market over the past one month till 12 September 2016, advancing 5.75% compared with 0.71% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 33.29% as against Sensexs 6.45% rise.

The small-cap company has equity capital of Rs 108.83 crore. Face value per share is Rs 10.

Gitanjali Gems is engaged in diamond cutting and polishing, and diamond and gold jewelry manufacturing.

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IL&FS Transportation gains after posting turnaround in Q1
Sep 14,2016

The result was announced yesterday, 13 September 2016, when the stock markets were closed on account of Bakri Id.

Meanwhile, the BSE Sensex was down 54.83 points, or 0.19%, to 28,298.71.

More than usual volumes were traded on the counter. On BSE, so far 3.33 lakh shares were traded in the counter, compared with an average volume of 1.64 lakh shares in the past one quarter. The stock hit a high of Rs 91.40 and a low of Rs 88.65 so far during the day. The stock hit a 52-week high of Rs 101.64 on 5 October 2015. The stock hit a record low of Rs 64 on 26 February 2016. The stock had outperformed the market over the past one month till 12 September 2016, surging 25.3% compared with 0.71% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 17.81% as against Sensexs 6.45% rise.

The mid-cap company has equity capital of Rs 328.96 crore. Face value per share is Rs 10.

IL&FS Transportation Networks total income rose 16.41% to Rs 1281.56 crore in Q1 June 2016 over Q1 June 2015. Earnings before interest, tax, depreciation and amortization (EBITDA) margin rose to 29% in Q1 June 2016 from 23% in Q1 June 2015. EBITDA rose 48.41% to Rs 374 crore in Q1 June 2016 over Q1 June 2015. The company has total order book of Rs 14625 crore. The companys construction order book stands at Rs 13758 crore to be executed over the next 5 years which includes non-road projects.

IL&FS Transportation Networks has grown into the largest BOT (build, operate and transfer) road assets owner in India.

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HCL Tech moves higher after securing IT contract in Australia
Sep 14,2016

The announcement was made during market hours today, 14 September 2016.

Meanwhile, the S&P BSE Sensex was down 47.97 points or 0.17% at 28,305.57.

On BSE, so far 33,000 shares were traded in the counter as against average daily volume of 2.04 lakh shares in the past one quarter. The stock hit a high of Rs 794.50 and a low of Rs 782.85 so far during the day. The stock had hit a 52-week high of Rs 985.50 on 30 September 2015. The stock had hit a 52-week low of Rs 706.50 on 11 May 2016. The stock had underperformed the market over the past one month till 12 September 2016, sliding 3.67% compared with 0.71% rise in the Sensex. The scrip had also underperformed the market in past one quarter, gaining 4.44% as against Sensexs 6.45% rise.

The large-cap company has equity capital of Rs 282.18 crore. Face value per share is Rs 2.

Under the terms of the contract, HCL Technologies will transform and support Synergys digital and business applications landscape enabling consolidation and rationalisation in the changing energy environment.

On a consolidated basis, HCL Technologies net profit rose 5.94% to Rs 2055.20 crore on 5.96% growth in net sales to Rs 11336.32 crore in the quarter ended 30 June 2016 over the quarter ended 31 March 2016.

HCL Technologies is a leading global IT services company working with clients in the areas that impact and redefine the core of their businesses.

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Ajanta Pharma receives final approval for Aripiprazole Tablets
Sep 14,2016

Ajanta Pharma has received final approval for Aripiprazole Tablets (2mg, 5 mg, 10mg, 15mg, 20mg, 30mg), the bioequivalent generic of Abilify from USFDA. Ajanta Pharma US Inc, a wholly owned subsidiary, will be launching the product into the US market soon.

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