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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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Yes Bank gains on implementing multi-nodal Blockchain solution
Jan 03,2017

The announcement was made during market hours today, 3 January 2017.

Meanwhile, the S&P BSE Sensex was up 45.06 points or 0.17% at 26,640.51.

On the BSE, 1.42 lakh shares were traded on the counter so far as against the average daily volumes of 2.29 lakh shares in the past one quarter. The stock had hit a high of Rs 1,172.25 and a low of Rs 1,140.75 so far during the day.

The stock had hit a record high of Rs 1,450 on 7 September 2016 and a 52-week low of Rs 632.25 on 20 January 2016. It had underperformed the market over the past one month till 2 January 2017, sliding 0.52% compared with the Sensexs 1.39% rise. The scrip had also underperformed the market over the past one quarter declining 8.79% as against the Sensexs 4.56% fall.

The large-cap private sector bank has equity capital of Rs 422.98 crore. Face value per share is Rs 10.

Yes Bank said it has put in place a detailed roadmap on commercialising Blockchain based banking solutions in India and is exploring use cases for implementation towards letter of credit and documentary collections, foreign remittances and partnering with correspondent banks for trade finance among others.

Yes Banks net profit rose 31.3% to Rs 801.54 crore on 24.7% rise in total income to Rs 4982.23 crore in Q2 September 2016 over Q2 September 2015.

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

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HPCL gains on buzz of investment plans in city gas distribution
Jan 03,2017

Meanwhile, the S&P BSE Sensex was up 77.28 points, or 0.29%, to 26,679.29.

On the BSE, 2.33 lakh shares were traded in the counter so far, compared with average daily volume of 2.43 lakh shares in the past one quarter. The stock had hit a high of Rs 467.90 and a low of Rs 448.75 so far during the day.

HPCL has three city gas distribution joint ventures: Aavantika Gas Ltd, Bhagyanagar Gas Ltd and Godavari Gas Ltd.

HPCL reported net profit of Rs 701.32 crore in Q2 September 2016 compared with net loss of Rs 317.13 crore in Q2 September 2015. HPCLs net sales was flat at Rs 42030.64 crore in Q2 September 2016 over Q2 September 2015.

HPCL is a public sector oil marketing company. The Government of India held 51.11% stake in HPCL as per the shareholding pattern as on 30 September 2016.

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Foreign brokerage buy rating boosts Bharat Electronics
Jan 03,2017

Meanwhile, the S&P BSE Sensex was up 104.16 points or 0.39% at 26,699.61.

On the BSE, 1.18 lakh shares were traded on the counter so far as against the average daily volumes of 32,215 shares in the past one quarter. The stock had hit a high of Rs 1,424 and a low of Rs 1,368 so far during the day.

The stock had hit a record high of Rs 1,540 on 9 December 2016 and a 52-week low of Rs 1,009 on 1 March 2016. It had underperformed the market over the past one month till 2 January 2017, sliding 3.69% compared with the Sensexs 1.39% rise. The scrip had, however, outperformed the market over the past one quarter surging 9.74% as against the Sensexs 4.56% fall.

The large-cap company has equity capital of Rs 223.36 crore. Face value per share is Rs 10.

The brokerage expects a 15% earnings growth for Bharat Electronics over FY 2016-19.

Bharat Electronics net profit rose 68.2% to Rs 346.25 crore on 15.1% growth in net sales to Rs 1755.89 crore in Q2 September 2016 over Q2 September 2015.

Bharat Electronics was established at Bangalore, India, by the Government of India under the Ministry of Defence in 1954 to meet the specialised electronic needs of the Indian defence services. Over the years, it has grown into a multi-product, multi-technology, multi-unit company servicing the needs of customers in diverse fields in India and abroad.

The Government of India held 74.41% stake in Bharat Electronics (as per the shareholding pattern as on 4 November 2016).

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Pincon Spirit on a high after fund raising plans
Jan 03,2017

The announcement was made during market hours today, 3 January 2017.

Meanwhile, the BSE Sensex was up 114.73 points, or 0.43%, to 26,710.18.

On the BSE, 1.75 lakh shares were traded in the counter so far, compared with average daily volume of 1.34 lakh shares in the past one quarter. The stock had hit a high of Rs 65.90 and a low of Rs 63.60 so far during the day. The stock had hit a record high of Rs 89.40 on 25 July 2016. The stock had hit a 52-week low of Rs 50 on 12 February 2016.

The stock had underperformed the market over the past one month till 2 January 2017, gaining 1.36% compared with Sensexs 1.39% rise. The scrip had also underperformed the market in past one quarter, falling 12.34% as against Sensexs 4.56% decline.

The small-cap liquor maker has equity capital of Rs 44.09 crore. Face value per share is Rs 10.

Pincon Spirits net profit jumped 61.9% to Rs 9.44 crore on 34.6% rise in net sales to Rs 308.90 crore in Q2 September 2016 over Q2 September 2015.

Pincon Spirit is a liquor company. The company is engaged in carrying on the business of blending, bottling and wholesale distribution of Indian made foreign liquor (IMFL) and Indian made Indian liquor (IMIL). In the FMCG space, the company is engaged in the manufacture of edible oils.

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Ind-Ra: Demonetisation to Derail Cement Sector Growth
Jan 03,2017

Demonetisation to derail the growth of the cement sector says India Ratings and Research (Ind-Ra). Cement production is likely to grow by around 4% in FY17; the agency earlier estimated 4%-6% growth for FY17. Ind-Ra expects the credit profile of pan India cement players and strong regional players to remain stable; however the credit profile of small and medium cement companies, with high debt levels will come under stress in the next two quarters.

Ind-Ra had highlighted that the impact of this policy measure will flow to the economy mainly through the real estate/construction sector, which has strong linkages with sectors such as cement and steel and they will turn credit negative in the short-run.

The lower cement output for FY17 is expected due to the fall in production of the sector in the month of November-December 2016. Cement production has grown by 4.3% during April-November 2016 and it recorded a growth of 0.5% in November 2016 (October:6.2%, September:5.5%).

The agency notes that post demonetisation all India volumes declined in the range of 20%-25% in November-December 2016; while pan-India realisations have declined in the range of INR15/bag-INR20/bag in the same period.

Pet coke which is a key raw material for the sector has shown an upward movement in prices to around USD60-USD70 per tonne from USD40 per tonne at the beginning of the financial year. The rise in pet coke prices coupled with increase in diesel prices is likely to increase power, fuel and freight costs for companies. The higher input cost and lower demand is expected to limit the ability of cement manufacturers to pass on the higher prices to the end consumers, thus potentially squeezing margins.

Ind-Ra expects that post demonetisation, demand from the housing sector (contributes around 65% cement demand) is likely to declined further. The demand from individual home builders (which mainly consists of farmers) are expected to increase in FY17, due to a better monsoon; however post demonetisation Ind-Ra expects that cash availability with individual home builders will also be limited.

Ind-Ra believes that the working capital cycle for cement companies is likely to increase (most cement companies are net working capital negative) due to the likely additional credit given to dealers, as most of dealers have shifted to digital payments.

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Board of Narbada Gems & Jewellery to consider matters related to reduction of capital
Jan 03,2017

Narbada Gems & Jewellery announced that the Meeting of the Board of Directors of the Company will be held on 11 January 2017, inter alia, to consider the following matters:

1. To take on record the approval letter dated 30 December 2016 from SEBI under Part-B, Annexure I of the SEBI Circular dated November 30, 2015.

2. To fix the Record date in accordance with Regulation 42 of LODR-2015, to issue new shares/ share certificate /credit to demat accounts, consequent to Reduction of capital as per Order of the Honble High Court.

3. All other matters ancillary to the execution of the Order for Reduction of share capital and related corporate action to be undertaken for listing of Reduced Capital.

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Dhanuka Agritech advances after setting final terms of share buyback
Jan 03,2017

The announcement was made during market hours today, 3 January 2017.

Meanwhile, the S&P BSE Sensex was up 62.68 points or 0.24% at 26,658.13.

On the BSE, 6,656 shares were traded on the counter so far as against the average daily volumes of 9,483 shares in the past one quarter. The stock had hit a high of Rs 776.25 and a low of Rs 746.95 so far during the day. The stock had hit a record high of Rs 777 on 31 August 2016 and a 52-week low of Rs 473 on 20 January 2016.

The stock had outperformed the market over the past one month till 2 January 2017, gaining 5.94% compared with Sensexs 1.39% rise. The scrip had also outperformed the market in past one quarter, rising 11.92% as against Sensexs 4.56% decline.

The mid-cap company has equity capital of Rs 10 crore. Face value per share is Rs 2.

Dhanuka Agritech announced that the buyback committee of board of directors of the company at a meeting held on 3 January 2017, have determined the final buyback price of Rs 850 and the final amount for buyback to be Rs 80 crore. The total number of shares to be bought back in the buyback shall be 9.41 lakh equity shares, representing about 1.88% of the total issued and paid-up equity capital of the company as on 31 March 2016.

The terms of buyback are within the maximum limits approved by the board of directors at a board meeting held on 10 November 2016, and as approved by shareholders by special resolution, through postal ballot, results of which were announced on 2 January 2017.

The final buyback price of Rs 850 per share was at a premium of 10.79% to the ruling price of Rs 767.20.

Dhanuka Agritechs consolidated net profit rose 30.5% to Rs 49.21 crore on 14.4% rise in net sales to Rs 308.97 crore in Q2 September 2016 over Q2 September 2015.

Dhanuka Agritech is engaged in the manufacture of agro-chemicals like herbicides, insecticides, fungicides and miticides.

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Board of Nalin Lease Finance to consider December quarter results
Jan 03,2017

Nalin Lease Finance announced that the meeting of the Board of Directors of the Company is scheduled to be held on 23 January 2017 to consider and take on Record the Unaudited Financial Results for the Quarter ended on 31 December 2016.

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Swagruha Infrastructure to consider change in registered office
Jan 03,2017

Swagruha Infrastructure announced that a meeting Board of Directors of Company will be held on 06 January 2017, inter alia, to consider the following:

1. Shifting of Registered office from one state to another state.

2. Draft Notice of the postal ballot.

3. Appointment of scrutinizer for conducting for postal ballot.

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Mahamaya Steel Industries appoints CFO
Jan 03,2017

Mahamaya Steel Industries announced that the Board of Directors of the Company in their meeting held on 03 January 2017 has considered and approved appointment of Sanjay Kumar Lilha as Chief Executive Officer of the Company.

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Bajaj Hindusthan gains after seeking shareholders nod to sell power biz
Jan 03,2017

The announcement was made after market hours yesterday, 2 January 2017.

Meanwhile, the S&P BSE Sensex was up 67.35 points or 0.25% at 26,662.80.

On the BSE, 8.94 lakh shares were traded on the counter so far as against the average daily volumes of 4.25 lakh shares in the past one quarter. The stock had hit a high of Rs 15.39 and a low of Rs 15 so far during the day.

The stock had hit a 52-week high of Rs 24.20 on 13 June 2016 and a 52-week low of Rs 12.65 on 12 February 2016. It had outperformed the market over the past one month till 2 January 2017, surging 7.18% compared with the Sensexs 1.39% rise. The scrip had, however, underperformed the market over the past one quarter declining 8.2% as against the Sensexs 4.56% fall.

The small-cap company has equity capital of Rs 113.36 crore. Face value per share is Rs 1.

Bajaj Hindusthan Sugars board of directors at its meeting held yesterday, 2 January 2017, considered seeking necessary approval of shareholders for sale of co-generation business comprising of power generation facility aggregating to 449 megawatts (MW).

The company will seek shareholders nod for entering into contracts/arrangements in respect of the transaction with Lalitpur Power Generation Company (LPGCL) for sale of co-generation power business and also transactions of purchase of power and steam, sale of bagasse, bio gas and water, right to use agreement for use of common facilities, etc.

It may be recalled that the companys board on 20 December 2016, approved the sale and transfer of co-generation power business aggregating 449 MW capacity located at 14 locations to LPGCL, a group company, for a lumpsum cash consideration of about Rs 1800 crore, as a going concern on slump sale basis. The company had at that time said that entire amount of cash consideration is proposed to be utilised by it towards advance repayment of its existing term debt.

Bajaj Hindusthan Sugar reported net loss of Rs 137.71 crore in Q2 September 2016, lower than net loss of Rs 282.72 crore in Q2 September 2015. Net sales rose 13% to Rs 850.08 crore in Q2 September 2016 over Q2 September 2015.

Bajaj Hindusthan Sugar is a sugar and ethanol manufacturing company.

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Hexaware Technologies recognised as Star Performer in Global Capital Markets
Jan 03,2017

Hexaware Technologies announced that it has been recognised as a Major Contender and a Star Performer by Everest Groups Global Capital Markets Application Outsourcing Service Providers research (October, 2016).

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International Paper APPM Director resigns
Jan 03,2017

International Paper APPM announced that Ann B. Wrobleski has resigned as Non-Executive Director from the Board of Directors of the Company effective 31 December 2016.

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Moryo Industries to consider change in directorate
Jan 03,2017

Moryo Industries announced that a meeting of the Board of Directors of the Company will be held on 11 January 2017, inter alia, to discuss and approve the followings:

1. Appointment of Dimpal D Vakil as the Director of the company.

2. Resignation of Dipti Lalwani as the Director of the company.

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Moryo Industries to consider change in directorate
Jan 03,2017

Moryo Industries announced that a meeting of the Board of Directors of the Company will be held on 11 January 2017, inter alia, to discuss and approve the followings:

1. Appointment of Dimpal D Vakil as the Director of the company.

2. Resignation of Dipti Lalwani as the Director of the company.

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