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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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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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Godfrey Phillips slides after poor Q1 results
Sep 14,2016

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

Meanwhile, the S&P BSE Sensex was down 59.63 points or 0.21% at 28,293.91.

On BSE, so far 63,000 shares were traded in the counter as against average daily volume of 38,264 shares in the past one quarter. The stock hit a high of Rs 1,446.50 and a low of Rs 1,350.70 so far during the day. The stock had hit a 52-week low of Rs 556.10 on 11 September 2015. The stock had hit a record high of Rs 1,660.25 on 3 December 2015. The stock had outperformed the market over the past one month till 12 September 2016, surging 19.08% compared with 0.71% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 66.64% as against Sensexs 6.45% rise.

The mid-cap company has equity capital of Rs 10.40 crore. Face value per share is Rs 2.

Godfrey Phillips India, a flagship company of the K.K. Modi Group, is one of Indias largest cigarette manufacturers. The company makes cigarette brands including Four Square, Red & White, and Cavanders, as well as Hawk Eye brand of premium cigarettes. The company exports its own cigarette brands, like Jaisalmer, Stellar and Black Jack among others, all over the globe. And under a license agreement with Philip Morris, it manufactures and markets Marlboro cigarettes in India.

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Precious metals turn dull
Sep 14,2016

Bullion prices ended lower at Comex on Tuesday, 13 September 2016.Gold futures failed to hold on to earlier gains on Tuesday as pressure from strength in the U.S. dollar prompted prices to extend their losing streak to a fifth session in a row. Some dovish Federal Reserve comments on Monday had helped to cool expectations for an interest-rate hike as soon as next week, but the greenback managed to post gains on Tuesday ahead of next weeks Fed policy meeting.

On Tuesday, December gold fell $1.90, or 0.1%, to settle at $1,323.70 an ounce.

December silver fell 2.5 cents, or 0.1%, to $18.975 an ouncen++also its lowest settlement since the start of this month.

Fed Gov. Lael Brainard on Monday struck a dovish tone, saying the central bank needed to be prudent in considering future rate rises. Her comments hit just minutes before golds settlement, keeping prices for the metal off the days lows. Financial markets had braced for potential signals from Brainard for an imminent hike, especially after hawkish-leaning chatter from her colleagues in recent days.

On Tuesday, the ICE U.S. Dollar Index rose by 0.4%, while U.S. equities traded lower after a rally on Monday.

A loose monetary-policy stance is positive news for gold bulls as the metal, which doesnt pay interest, is typically more appealing in a low-rate environment. Conversely, indications for rising rates tend to pressure gold prices. U.S. currency weakness is also a boon for dollar-pegged assets including precious metals, making them relatively cheaper to buyers using other currencies.

Todays economic data at Wall Street was limited to the Treasury Budget for August. The Treasury Budget for August showed a deficit of $107.1 billion versus a deficit of $64.4 billion in August 2015. The Treasury Budget data is not seasonally adjusted, so the August deficit cannot be compared to the $112.8 billion deficit registered in July. Total receipts in August were $231.3 billion while total outlays were $338.4 billion. Receipts were $20.5 billion more than receipts in August 2015. Total outlays, meanwhile, were $63.2 billion more than the same period a year ago. The 12-month deficit widened to $529.9 billion from $487.2 billion in July.

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Bengaluru image among Fortune 500 firms sullied by Cauvery related agitation; losses up to Rs 25,000 cr-ASSOCHAM
Sep 14,2016

With widespread damage to the vital urban infrastructure, interruption in the transport including, roads, rail and air and inability of the workforce to safely move to and from offices and factories, Karnataka , particularly Bengaluru city, is estimated to have suffered a loss between Rs 22,000-25,000 crore due to Cauvery dispute related violence, apex industry body ASSOCHAM said today.

n++Violence in the state capital and other parts of Karnataka has severely dented the image of Bengaluru as Silicon Valley of India, home to almost all the Fortune 500 companies,n++ said ASSOCHAM while making a fervent appeal for peace in both Karnataka and Tamil Nadu.

n++The way the violent incidents had spread is demoralizing the business and industrial community, particularly in the capital city of Karnataka. The image that India built around Bengaluru as its Silicon Valley is being sullied,n++ said ASSOCHAM secretary general, Mr D S Rawat.

n++The authorities in Karnataka and Tamil Nadu should not allow under any circumstances the law and order to be compromised. While the water is a basic requirement and an emotional issue, the situation is being exploited by miscreants, scaring away the peace loving workforce which has settled in both Bengaluru and Chennai from all over the country and even abroad,n++ said Mr Rawat.

According to ASSOCHAM, widespread loss would accrue to IT and ITES facilities due to poor attendance for the last several days. Besides, the inter-state tourism, particularly involving pilgrims, domestic travellers, has been affected. Cancellation of air tickets have also been reported to and from Bengaluru.

Likewise, industrial production, movement of cargo and retail trade including malls, cinema halls, restaurants, have been halted. n++All these losses would run between Rs 22,000 crore and Rs 25,000 crore, besides of course immense damage to the goodwill of the state as an attractive investment destination.n++

ASSOCHAM has also urged the Centre to effectively monitor the situation and ensure that peace is restored in the two states. n++A lot of damage has already been done to the trade and factory output with movement of the vehicles hit by the agitation which is taking violent shape. There is a huge stake for the countrys showpiece information technology in both Bengaluru and Chennai.n++

The strikes and bandhs should not be allowed to take violent shape and the law and order machinery should be geared up well in advance, with good amount of intelligence gathering, it said.

n++While we are selling ourselves to be the fastest growing economy of the world, we cannot afford the incidents which are taking place in the metropolitan cities. After all, the two states had built with a lot of hard work image of progressive areas, which should not be compromised at any cost.n++

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Bhel gains after winning contract from NHPC
Sep 14,2016

The announcement was made by NHPC after market hours on Monday, 12 September 2016. Stock market remained closed yesterday, 13 September 2016 on account of holiday. Shares of NHPC rose 2.15% to Rs 26.15.

Meanwhile, the S&P BSE Sensex was down 34.65 points or 0.12% at 28,311.15.

On BSE, so far 2.05 lakh shares were traded in the Bharat Heavy Electricals counter as against average daily volume of 9.98 lakh shares in the past one quarter. The stock hit a high of Rs 149.40 and a low of Rs 147.55 so far during the day. The stock had hit a 52-week high of Rs 219.70 on 27 October 2015. The stock had hit a 52-week low of Rs 90.40 on 29 February 2016. The stock had outperformed the market over the past one month till 12 September 2016, rising 6.65% compared with 0.71% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 19.29% as against Sensexs 6.45% rise.

The large-cap company has equity capital of Rs 489.52 crore. Face value per share is Rs 2.

The contract awarded to Bharat Heavy Electricals (Bhel) by NHPC is for renovation and modernization of 180 megawatts Baira Siul Power Station in Himachal Pradesh. The scope of the contract agreement signed by NHPC with Bhel includes electromechanical works packages comprising supply, erection, commissioning of turbines and accessories and dismantling of existing system.

Meanwhile, shares of Bhel turned ex-dividend today, 14 September 2016, for final dividend of Rs 0.40 per share for the year ended 31 March 2016. Before turning ex-dividend, the stock offered a dividend yield of 0.27% based on the closing price of Rs 147.50 on Monday, 12 September 2016.

State-run Bhel is an integrated power plant equipment manufacturer. It is one of the largest engineering and manufacturing companies in India engaged in the design, engineering, manufacture, construction, testing, commissioning and servicing of a wide range of products and services for core sectors of the economy, viz. power, transmission, industry, railways, renewable energy, oil & gas, water and defence.

The Government of India currently holds 63.06% stake in Bhel (as per the shareholding pattern as on 30 June 2016).

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Amtek Auto slips as net loss widens in Q3
Sep 14,2016

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

Meanwhile, the S&P BSE Sensex was down 54.84 points or 0.19% at 28,298.70.

On BSE, so far 3.61 lakh shares were traded in the counter as against average daily volume of 10.06 lakh shares in the past one quarter. The stock hit a high of Rs 43.60 and a low of Rs 41.25 so far during the day. The stock had hit a 52-week low of Rs 26.05 on 12 February 2016. The stock had hit a 52-week high of Rs 57.90 on 14 September 2015. The stock had underperformed the market over the past one month till 12 September 2016, sliding 3.18% compared with 0.71% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 27.27% as against Sensexs 6.45% rise.

The small-cap company has equity capital of Rs 44.95 crore. Face value per share is Rs 2.

The companys total income declined 33.45% to Rs 576.49 crore in Q3 June 2016 over Q3 June 2015.

Amtek Auto is one of the largest integrated automotive component manufacturers in India with a strong global presence. Amtek Auto has a presence in forging, grey and ductile iron casting, gravity and high-pressure aluminum die casting and machining and sub-assembly. The company also manufactures components for non-auto sectors such as the railways, specialty vehicles, aerospace, agricultural and heavy earth moving equipment. The company has manufacturing facilities in India, Europe and North America.

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Amtek Auto slips as net loss widens in June quarter
Sep 14,2016

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

Meanwhile, the S&P BSE Sensex was down 54.84 points or 0.19% at 28,298.70.

On BSE, so far 3.61 lakh shares were traded in the counter as against average daily volume of 10.06 lakh shares in the past one quarter. The stock hit a high of Rs 43.60 and a low of Rs 41.25 so far during the day. The stock had hit a 52-week low of Rs 26.05 on 12 February 2016. The stock had hit a 52-week high of Rs 57.90 on 14 September 2015. The stock had underperformed the market over the past one month till 12 September 2016, sliding 3.18% compared with 0.71% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 27.27% as against Sensexs 6.45% rise.

The small-cap company has equity capital of Rs 44.95 crore. Face value per share is Rs 2.

The companys total income declined 33.45% to Rs 576.49 crore in the quarter ended 30 June 2016 over the quarter ended 30 June 2015.

Amtek Auto is one of the largest integrated automotive component manufacturers in India with a strong global presence. Amtek Auto has a presence in forging, grey and ductile iron casting, gravity and high-pressure aluminum die casting and machining and sub-assembly. The company also manufactures components for non-auto sectors such as the railways, specialty vehicles, aerospace, agricultural and heavy earth moving equipment. The company has manufacturing facilities in India, Europe and North America.

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SMS Pharmaceuticals to hold AGM
Sep 14,2016

SMS Pharmaceuticals announced that the Annual General Meeting (AGM) of the company will be held on 30 September 2016.

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Universal Arts to hold AGM
Sep 14,2016

Universal Arts announced that the Annual General Meeting (AGM) of the company will be held on 30 September 2016.

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Virinchi to hold AGM
Sep 14,2016

Virinchi announced that the 27th Annual General Meeting (AGM) of the company will be held on 30 September 2016.

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