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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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Sterling Tools to hold board meeting
Oct 19,2016

Sterling Tools will hold a meeting of the Board of Directors of the Company on 5 November 2016 to adopt the Quarterly as well as Half Yearly Unaudited Financial Results of the Company for the Quarter Ended September 30, 2016,to sub-divide the Equity Share of the Company.

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Shree Ganesh Elastoplast to hold board meeting
Oct 19,2016

Shree Ganesh Elastoplast will hold a meeting of the Board of Directors of the Company on 27 October 2016.

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Dutron Polymers to hold board meeting
Oct 19,2016

Dutron Polymers will hold a meeting of the Board of Directors of the Company on 29 October 2016 to consider and take on record the Unaudited financial result of the Company for the Quarter ended on September 30, 2016.

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Raymond to hold board meeting
Oct 19,2016

Raymond will hold a meeting of the Board of Directors of the Company on 26 October 2016 to consider and approve the Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter and half year ended September 30, 2016 (Q2).

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Ferro Alloys Corporation to hold board meeting
Oct 19,2016

Ferro Alloys Corporation will hold a meeting of the Board of Directors of the Company on 7 November 2016.

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Saven Technologies to hold board meeting
Oct 19,2016

Saven Technologies will hold a meeting of the Board of Directors of the Company on 4 November 2016 to Consider and approve recommendations proposed by the audit committee on Scheme of Reduction of Capital.

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Bharat Gears to hold board meeting
Oct 19,2016

Bharat Gears will hold a meeting of the Board of Directors of the Company on 27 October 2016.

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IATA forecasts global passenger demand to double over 20 Years
Oct 19,2016

The International Air Transport Association (IATA) expects 7.2 billion passengers to travel in 2035, a near doubling of the 3.8 billion air travelers in 2016. The prediction is based on a 3.7% annual Compound Average Growth Rate (CAGR) noted in the release of the latest update to the associations 20-Year Air Passenger Forecast.

People want to fly. Demand for air travel over the next two decades is set to double. Enabling people and nations to trade, explore, and share the benefits of innovation and economic prosperity makes our world a better place, said Alexandre de Juniac, IATAs Director General and CEO.  

Eastward shift, developing market focus

The forecast for passenger growth confirms that the biggest driver of demand will be the Asia-Pacific region. It is expected to be the source of more than half the new passengers over the next 20 years. China will displace the US as the worlds largest aviation market (defined by traffic to, from and within the country) around 2029. India will displace the UK for third place in 2026, while Indonesia enters the top ten at the expense of Italy. Growth will also increasingly be driven within developing markets. Over the past decade the developing worlds share of total passenger traffic has risen from 24% to nearly 40%, and this trend is set to continue.

Risks, Challenges and Opportunities

The 20-year forecast puts forward three scenarios. The central scenario foresees a doubling of passengers with a 3.7% annual CAGR. If trade liberalization gathers pace, demand could triple the 2015 level. Conversely, if the current trend towards trade protectionism gathers strength, growth could cool to 2.5% annual CAGR which would see passenger numbers reach 5.8 billion by 2035.

Economic growth is the only durable solution for the worlds current economic woes. Yet we see governments raising barriers to trade rather than making it easier. If this continues in the long-term, it will mean slower growth and the world will be poorer for it. For aviation, the protectionist scenario could see growth slowing to as low as 2.5% annually. Not only will that mean fewer new aviation jobs, it will mean that instead of 7.2 billion travelers in 2035, we will have 5.8 billion. The economic impact of that will be broad and hard-felt, said de Juniac.

Whatever scenario is eventually realized, growth will put pressure on infrastructure that is already struggling to cope with demand.  Runways, terminals, security and baggage systems, air traffic control, and a whole raft of other elements need to be expanded to be ready for the growing number of flyers. It cannot be done by the industry alone. Planning for change requires governments, communities and the industry working together in partnership, said de Juniac.

The industry will also need to be able to grow sustainably. Earlier this month airlines supported the establishment of a Carbon Offset and Reduction Scheme for International Aviation (CORSIA). This landmark agreement - the first among governments to manage the emissions growth of an entire global industrial sector - aims to cap net emissions with carbon neutral growth from 2020. Aviation is at the forefront of industries in managing its carbon footprint. Along with offsetting emissions through CORSIA, airlines are working with partners in industry and government to advance technology, improve operations and generate more efficiencies in infrastructure, said de Juniac.

Key facts

Fast-growing markets

The five fastest-growing markets in terms of additional passengers per year over the forecast period will be China (817 million new passengers for a total of 1.3 billion) US (484 million new passengers for a total of 1.1 billion) India (322 million new passengers for a total of 442 million) Indonesia (135 million new passengers for a total of 242 million) Vietnam (112 million new passengers for a total of 150 million).

The top ten fastest-growing markets in percentage terms will be in Africa: Sierra Leone, Guinea, Central African Republic, Benin, Mali, Rwanda, Togo, Uganda, Zambia and Madagascar. Each of these markets is expected to grow by more than 8% each year on average over the next 20 years, doubling in size each decade.

Regional growth Routes to, from and within Asia-Pacific will see an extra 1.8 billion annual passengers by 2035, for an overall market size of 3.1 billion. Its annual average growth rate of 4.7% will be the second-highest, behind the Middle East. The North American region will grow by 2.8% annually and in 2035 will carry a total of 1.3 billion passengers, an additional 536 million passengers per year. Europe will have the slowest growth rate, 2.5%, but will still add an additional 570 million passengers a year. The total market will be 1.5 billion passengers. Latin American markets will grow by 3.8%, serving a total of 658 million passengers, an additional 345 million passengers annually compared to today. The Middle East will grow strongly (5.0%) and will see an extra 258 million passengers a year on routes to, from and within the region by 2035. The UAE, Qatar and Saudi Arabia will all enjoy strong growth of 6.3%, 4.7%, and 4.1% respectively. The total market size will be 414 million passengers. Africa will grow by 5.1%. By 2035 it will see an extra 192 million passengers a year for a total market of 303 million passengers.

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Max India allots equity shares
Oct 19,2016

Max India announced that the Nomination and Remuneration Committee of the Company approved allotment of 2,86,050 equity shares of Rs. 2/- each of the Company for cash at par to certain stock option-holders on 19 October 2016 arising from the exercise of Stock Options.

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Endurance Technologies trades at decent premium on debut
Oct 19,2016

Meanwhile, the S&P BSE Sensex was down 45.35 points or 0.2% at 27,993.91.

On BSE, so far 32.95 lakh shares were traded in the counter. The stock made its debut on the bourses at Rs 570, a premium of 20.76% over its initial public offer (IPO) of Rs 472 per share. The stock hit high of Rs 601 and low of Rs 570 so far during the day.

The initial public offer (IPO) of Endurance Technologies saw strong response from investors. The issue had received bids for 75.52 crore shares and it was subscribed 43.84 times. The issue price was fixed at top end of the price band of Rs 467 to Rs 472 per share.

Endurance Technologies consolidated net profit rose 15.38% to Rs 29.11 crore on 6.58% rise in net revenue from operations to Rs 524.05 crore in the year ended 31 March 2016 (FY 2016) over the year ended 31 March 2015 (FY 2015).

Endurance Technologies is a two-wheeler and three-wheeler automotive component manufacturer. The company has operations in Europe with highly-automated manufacturing facilities in Italy and Germany. The company is a tier one supplier to original equipment manufacturers (OEMs) for most of its products. In India, the company manufactures a diverse range of technology-intensive automotive components for the two-wheeler and three-wheeler segments. The company also manufactures specified components for four-wheeler passenger vehicles, light commercial vehicles (LCVs) and heavy commercial vehicles (HCVs).

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Tata Communications wins Managed UC Services Provider of the Year Award 2016
Oct 19,2016

Tata Communications has been recognised for a strong performance of itsmanaged unified communications (UC) portfolio of services in the APAC market and has clinched the 2016 Frost & Sullivan Managed UC Services Provider of the Year award.

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L&T Technology gains after securing multi-million dollar contract
Oct 19,2016

The announcement was made before market hours today, 19 October 2016.

Meanwhile, the S&P BSE Sensex was down 22.66 points or 0.08% at 28,028.22.

On BSE, so far 7,047 shares were traded in the counter as against average daily volume of 1.61 lakh shares in the past one quarter. The stock hit a high of Rs 864.95 and a low of Rs 855.30 so far during the day. The stock had hit a record high of Rs 931 on 23 September 2016. The stock had hit a record low of Rs 823.30 on 5 October 2016.

The mid-cap company has equity capital of Rs 20.34 crore. Face value per share is Rs 2.

L&T Technology Services announced that it has secured a new multiyear, multi-million dollar contract with a large global semi-conductor company to provide verification support on their expansive portfolio of offerings and products. The strategic tie-up between the two companies will enable the customer to strengthen its product offering and capitalize on market opportunities with superior quality products.

L&T Technology Services debuted on the stock exchanges on 23 September 2016.

Based on consolidated financials, L&T Technology Services reported net profit of Rs 135.05 crore on revenue from operations of Rs 765.38 crore for the quarter ended 30 June 2016. The company reported net profit of Rs 434.23 crore on revenue from operations of Rs 2894.03 crore for FY 2016.

L&T Technology Services provides engineering, research and development (ER&D) services to manufacturing, technology and process engineering companies, to help them develop and build products, processes and infrastructure required to deliver products and services to their end customers.

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Hatsun Agro Product standalone net profit rises 3.61% in the September 2016 quarter
Oct 19,2016

Net profit of Hatsun Agro Product rose 3.61% to Rs 32.16 crore in the quarter ended September 2016 as against Rs 31.04 crore during the previous quarter ended September 2015. Sales rose 17.28% to Rs 998.48 crore in the quarter ended September 2016 as against Rs 851.38 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales998.48851.38 17 OPM %9.129.82 - PBDT76.2466.40 15 PBT45.8439.56 16 NP32.1631.04 4

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Rasoi standalone net profit rises 64.29% in the September 2016 quarter
Oct 19,2016

Net profit of Rasoi rose 64.29% to Rs 1.61 crore in the quarter ended September 2016 as against Rs 0.98 crore during the previous quarter ended September 2015. Sales rose 83.50% to Rs 5.56 crore in the quarter ended September 2016 as against Rs 3.03 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales5.563.03 83 OPM %35.2550.17 - PBDT2.011.58 27 PBT1.821.42 28 NP1.610.98 64

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US stocks end higher amid strong earning reports
Oct 19,2016

U.S. stocks closed higher on Tuesday, 18 October 2016 as investors welcomed stronger-than-expected quarterly results from a roster of companies, including Goldman Sachs Group, United Health Group and Netflix Inc. A positive bias in global markets and some mixed inflation data also contributed to todays upbeat demeanor. Meanwhile, reports on inflation and home-builder confidence that were in line with forecasts underlined market expectations that the Federal Reserve is likely to raise interest rates in December.

The Dow Jones Industrial Average rose 75.54 points, or 0.4%, to close at 18,161.94, with gains capped by a selloff in IBM. The Nasdaq Composite Index added 44.01 points, or 0.9%, to close at 5,243.84, boosted by sharp gains in biotechnology stocks. The S&P 500 index finished up 13.10 points, or 0.6%, at 2,139.60, with all 11 main sectors trading higher. The health-care, materials and utilities sectors led gainers.

The third-quarter earnings reporting season picked up in earnest this morning as participants pored over reports from the likes of Netflix, UnitedHealth, Goldman Sachs, IBM and Johnson & Johnson. All five names topped bottom-line estimates for the quarter, but the results were met with mixed reactions.

European markets outperformed on the heels of an above-consensus inflation reading out of the UK. All eleven S&P 500 sectors finished in the green with health care, materials, utilities, financials and technology leading the pack.

IBM shares closed down 2.6% after the company posted a drop in profit and revenue late Monday. Meanwhile, shares of Netflix surged, closing up 19% after results blew past Wall Street expectations.

Todays economic data included the CPI Report for September and the NAHB Housing Market Index for October. The all items index was up 0.3% in September, which was in-line with expectations, while the all items index, excluding food and energy, was up 0.1% (consensus +0.2%).

Separately, the NAHB Housing Market Index for October came in at 63 (consensus 59.0) from an unrevised 65 in September.

Precious metals ended substantially higher at Comex on Tuesday, 18 October 2016. Gold futures on Tuesday book its highest settlement level in nearly two weeks, as strength in the British pound helped the U.S. dollar ease back from recent multimonth highs. Signs of a pickup in inflation, which tends to be supportive for gold, also gave the metal a lift.

December gold rose $6.30, or 0.5%, to settle at $1,262.90 an ounce. December silver put up the bigger move, adding 16.5 cents, or 0.9%, to $17.638.

Gold gained as the dollar pulled back from recent highs. The ICE U.S. Dollar Index which measures the buck against a basket of six currencies, traded nearly flat as of golds settlement, after touching seven-month highs on Monday. A stronger greenback can put pressure on dollar-denominated gold and vice versa.

Crude oil futures settled higher on Tuesday, 18 October 2016 at Nymex with prices in New York reclaiming the $50-a-barrel level after posting losses over the past two trading sessions. The Organization of the Petroleum Exporting Countries Secretary-General Mohammad Barkindo voiced the groups commitment on Tuesday to limit crude production, but concerns that a recent rise in oil prices, which logged gains for the last four weeks in a row, will spur more U.S. shale production kept a lid on oils price gains.

November West Texas Intermediate crude added 35 cents, or 0.7%, to settle at $50.29 a barrel on the New York Mercantile Exchange, rebounding an intraday low of $49.76. December Brent crude on Londons ICE Futures exchange rose 16 cents, or 0.3%, to $51.68 a barrel.

Treasuries finished on a higher note as yields pulled back across the curve. The yield on the 2-yr note declined one basis point to 0.81% while the yield on the benchmark 10-yr note settled lower by two basis points (1.74%).

Todays trading volume fell below the average of 858 million as 742 million shares changed hands at the NYSE floor.

Tomorrows economic data will include the 7:00 ET release of the the weekly MBA Mortgage Index. Separably, Housing Starts (consensus 1168k) and Building Permits (consensus 1164k) for September will each cross the wires at 8:30 ET. The days data will be capped off with the release of the Feds Beige Book for October at 14:00 ET.

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