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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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HOEC hits 52-week high after twin order win
Feb 16,2017

The announcement was made during market hours today, 16 February 2017.

Meanwhile, the S&P BSE Sensex was up 54.43 points or 0.19% at 28,209.99

On BSE, so far 6.71 lakh shares were traded in the counter as against average daily volume of 3.45 lakh shares in the past one quarter. The stock hit a low of Rs 74.60 so far during the day. The stock hit a high of Rs 78.90 in intraday trade so far, which is 52-week high for the counter. The stock had hit a 52-week low of Rs 26.55 on 29 February 2016.

The small-cap company has equity capital of Rs 130.49 crore. Face value per share is Rs 10.

Hindustan Oil Exploration Company (HOEC) secured two contracts in consortia with Oil India, Prize Petroleum and other private company by the Government of India in the recently concluded bidding for Discovered Small Field Bids Round (DSF 2016).

One of the contract area is offshore field B-80, located in the Mumbai Offshore about 56 square kilometer discovered by ONGC in 1997. This discovered field produced about 3,737 barrels of oil and 7.5 million cubic feet of gas per day during the testing with in place reserves of about 13.20 million barrels of oil and gas in place of 10.50 billion cubic feet.

The other contract area is onshore field Kherem located in Arunachal Pradesh, discovered by Oil India in 1994 with the area of 16.45 square kilo meter, with initial oil in place of about 3 million barrels and gas in place of about 17 billion cubic feet.

HOEC has 50% participating interest in the offshore field B-80 and 40% in the onshore field Kherem. HOEC is the operator for both the fields.

Hindustan Oil Exploration Company (HOEC) reported 30.22% rise in net profit to Rs 4.18 crore on 17.64% rise in total income to Rs 9.67 crore in Q3 December 2016 over Q3 December 2015.

HOEC has a wholly owned subsidiary, HOEC Bardahl India, engaged in marketing of high performance fuel/engine additives.

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Super Crop Safe receives GMP Certificate
Feb 16,2017

Super Crop Safe has received from GMP (Good Manufacturing Practice) Certificate no: G-RS-1702-1587 issued on 02 February 2017 and valid till01 February 2020 after successful inspection of manufacturing facilities of Nutraceuticals - Spirulina Powder, Tablet, Capsules and other Spirulina based Formulations and Compliance with the requirement of the GMP (Good Manufacturing Practice). This will facilitate the Company toexpand market ofNutraceuticals- Spirulina Po wder, Tablet, Capsules and other Spirulina based Formulations in domestic as well as international market.

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Next Mediaworks tumbles on profit booking
Feb 16,2017

Meanwhile, the S&P BSE Sensex was up 127.30 points, or 0.45%, to 28,282.86.

On the BSE, 64,000 shares were traded on the counter so far as against the average daily volumes of 23,019 shares in the past one quarter. The stock had hit a high of Rs 27.75 and a low of Rs 24.80 so far during the day.

The stock had hit a 52-week high of Rs 29.50 on 11 May 2016 and a 52-week low of Rs 15 on 16 November 2016. The stock had outperformed the market over the past one month till 15 February 2017, advancing 47.03% compared with the Sensexs 3.37% rise. The scrip had also outperformed the market over the past one quarter advancing 76.62% as against the Sensexs 7.04% rise.

The small-cap company has equity capital of Rs 65.40 crore. Face value per share is Rs 10.

Shares of Next Mediaworks had rallied 26.8% in the preceding four trading sessions to settle at Rs 27.20 yesterday, 15 February 2017, from its closing of Rs 21.45 on 9 February 2017.

Meanwhile, Next Mediaworks after market hours yesterday, 15 February 2017 announced that its board approved issue of upto 15.57 lakh equity shares of the company for an amount not exceeding Rs 3.50 crore to Ferari Investments and Trading Company, a promoter group entity, on preferential allotment basis. The company will convene an extra ordinary general meeting (EGM) of the shareholders of the company on 17 March 2017 to seek their approval for preferential allotment.

Ferari Investments and Trading Company held 14.78% stake in Next Mediaworks as per the shareholding pattern as on 31 December 2016.

Next Mediaworks reported consolidated net loss of Rs 0.95 crore in Q3 December 2016, compared with net profit of Rs 1.58 crore in Q3 December 2015. Net sales declined 9.9% to Rs 20.25 crore in Q3 December 2016 over Q3 December 2015.

Next Mediaworks is engaged in the business of publishing and broadcasting. The company also provides management consultancy.

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IL&FS Engineering & Construction Co secured two pipeline laying contract worth Rs 123.05 crore
Feb 16,2017

IL&FS Engineering & Construction Co has received Fax of Acceptance from Gas Authority of India for two pipeline laying contracts worth Rs 123.05 crore (plus Service Tax) in Kerala and Karnataka. Both the spreads are contiguous and are part of Kochi-Koottanad- Mangalore pipeline project.

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City Union Bank opens two branches
Feb 16,2017

City Union Bank has inaugurated two new branches at TVS Nagar and Modakurichi in Tamil Nadu on 16 February 2017.

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Cabinet approves award of contracts under Discovered Small Field Policy bid round - 2016
Feb 16,2017

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modihas given its approval to award contract in 31 contract areas (23 on onshore and 8 in offshore) of discovered small fields of Oil and Natural Gas Corporation (ONGC) and Oil India Limited (OIL).

Award of contract is expected to provide faster development of fields and facilitate production of oil and gas thereby increasing energy security of the country.

These areas were discovered long back but these discoveries could not be monetized due to various reasons such as isolated locations, small size of reserves, high development costs, technological constraints, fiscal regime etc.

It is expected that in-place locked hydrocarbons volume of 40 Million Metric Tonnes (MMT) oil and 22 Billion Cubic Meters (BCM) of gas will be monetised over a period of 15 years. The production from these contract areas will supplement the domestic production.

For early monetization of these fields, in September, 2015, Cabinet approved 69 marginal fields for offer under Discovered Small Fields Policy. Out of these, 67 Discovered Small Fields were clubbed into 46 contract areas and put on offer through online international competitive bidding. A total of 134 e-bids were received for 34 contract areas. A total of 47 companies submitted their bid, out of which 43 are Indian companies and rest four are foreign companies.

These contract areas have been awarded under the new regime of Revenue sharing Model.

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SBI associate banks in demand after Govt go ahead for merger with parent
Feb 16,2017

State Bank of Travancore (up 4.47%), State Bank of Mysore (up 4.25%), State Bank of Bikaner & Jaipur (up 3.93%) and State Bank of India (up 1.25%), edged higher.

The S&P BSE Sensex was up 39.37 points, or 0.14% at 28,194.93.

State Bank of India (SBI) said that the Finance Minister of India, in a press briefing yesterday, 15 February 2017, announced that the Cabinet approved the proposal for merger of State Bank of Bikaner & Jaipur, State Bank of Mysore, State Bank of Travancore, State Bank of Patiala and State Bank of Hyderabad with SBI. The announcement was made after trading hours yesterday, 15 February 2017.

On 17 May 2016, SBI had announced that it was seeking in principle sanction of the Government of India (GoI) to enter into negotiation with its 5 subsidiary banks viz. State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore to acquire their businesses including assets and liabilities. SBI also said at that time that it was considering acquisition of the newly-created Bharatiya Mahila Bank.

SBI holds 90% stake in State Bank of Mysore, 79.09% stake in State Bank of Travancore and 75.07% stake in State Bank of Bikaner and Jaipur. State Bank of Hyderabad and State Bank of Patiala are not listed on the bourses.

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BEL receives Offset Contract for CoMPASS
Feb 16,2017

Elbit Systems Electro-Optics Elop (ELOP), Israel has awarded Bharat Electronics an Offset Contract for the supply of 10 numbers of CoMPASS Systems for use in the Light Combat Helicopters (LCH) being manufactured by Hindustan Aeronautics (HAL). The CoMPASS Offset contract was awared to Bharat Electronics at Aero India 2017, Bangalore on 15 February 2017.

BEL has entered into a Technical Collaboration Agreement with ELOP for the joint production and D-Level maintenance of Compact Multi-Purpose Advanced Stabilised System (CoMPASS, the trade name for EO/IR payload) for the helicopter programmes.

BEL has absorbed transfer of technology (ToT) for production and maintenance of CoMPASS in India. BEL will not only supply but also provide maintenance support for CoMPASS to the user.

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State Bank of Travancore to merge with State Bank of India
Feb 16,2017

State Bank of Travancore announced that the Finance Minister of India, in a press briefing on 15 February 2017, has announced that the Cabinet has approved the proposal for merger of State Bank of Travancore (SBT) with State Bank of India.

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State Bank of Bikaner and Jaipur to merge with State Bank of India
Feb 16,2017

State Bank of Bikaner and Jaipur announced that the Finance Minister of India, in a press briefing on 15 February 2017, has announced that the Cabinet has approved the proposal for merger of State Bank of Bikaner & Jaipur (SBBJ) with State Bank of India.

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Dr Reddys Lab slips after patent infringement confirmation
Feb 16,2017

The announcement was made during market hours today, 16 February 2017.

Meanwhile, the BSE Sensex was up 24.65 points, or 0.09%, to 28,180.21.

On the BSE, so far 56,000 shares were traded in the counter, compared with average daily volumes of 24,800 shares in the past one quarter. The stock hit a high of Rs 2,932 so far during the day. The stock hit a low of Rs 2,803.50 so far during the day, which is also a 52-week low for the counter.

The stock hit a 52-week high of Rs 3,689 on 20 July 2016.

The large-cap company has equity capital of Rs 82.87 crore. Face value per share is Rs 5.

Dr Reddys Laboratories announced that the United States District Court for the District of New Jersey issued its opinion regarding Helsinn Healthcares patent infringement claims against the companys proposed palonosetron product, pursuant to a paper NDA under section 505(b)(2) of the Food, Drug and Cosmetic Act.

The court found that the companys proposed product infringes certain claims of three US patents and that the asserted claims of two of them were not valid. A company spokesperson said that the company is disappointed in the decision and intend to pursue an appeal in due course.

Dr Reddys Laboratories consolidated net profit fell 15.95% to Rs 492.30 crore on 5.43% fall in total income to Rs 3763.50 crore in Q3 December 2016 over Q3 December 2015.

Dr Reddys Laboratories is an integrated global pharmaceutical company.

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Gammon India gains after declaring improved quarterly earnings
Feb 16,2017

The result was announced after market hours yesterday, 15 February 2017.

Meanwhile, the S&P BSE Sensex was up 15.60 points, or 0.06%, to 28,171.16

On the BSE, 76,000 shares were traded on the counter so far as against the average daily volumes of 93,654 shares in the past one quarter. The stock had hit a high of Rs 12.75 and a low of Rs 12.40 so far during the day.

The stock had hit a 52-week high of Rs 20.60 on 6 September 2016 and a 52-week low of Rs 10.35 on 30 March 2016. The stock had underperformed the market over the past one month till 15 February 2017, declining 2.4% compared with the Sensexs 3.37% rise. The scrip had also underperformed the market over the past one quarter declining 4.77% as against the Sensexs 7.04% rise.

The small-cap company has equity capital of Rs 73.91 crore. Face value per share is Rs 2.

Gammon Indias net sales fell 11.5% to Rs 714.66 crore in Q3 December 2016 over Q3 December 2015.

Gammon India is engaged in construction of buildings, civil engineering, construction of utility projects, and specialized construction activities. The company operates through three segments: construction and engineering, oil exploration and realty development.

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Board of Greaves Cotton recommends dividend
Feb 16,2017

Greaves Cotton announced that the Board of Directors of the Company at its meeting held on 14 February 2017, inter alia, have recommended the dividend of Rs 4 per equity Share (i.e. 200%) , subject to the approval of the shareholders.

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Avance Technologies to hold board meeting
Feb 16,2017

Avance Technologies will hold a meeting of the Board of Directors of the Company on 3 March 2017.

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Cabinet approves Amending the Collection of Statistics Act, 2008 (7 of 2009)
Feb 16,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved a proposal to introduce a Bill in Parliament to extend the jurisdiction of the Collection of Statistics Act, 2008 to Jammu & Kashmir on statistics relevant to any matters under any of the entries specified in the List-I (Union List) and the List- III (Concurrent List) in the Seventh Schedule to the Constitution, as applicable to Jammu & Kashmir under the Constitution (Application to Jammu & Kashmir) Order, 1954. The Amendment will strengthen data collection mechanism in the State of Jammu & Kashmir.

The Amendment will:

(a) Provide for extending the jurisdiction of the Act to Jammu & Kashmir State in respect of matters not reserved for the State as per the Constitution (Application to Jammu and Kashmir) Order 1954;

(b) Provide for appointing a nodal officer at the Centre and in each State/Union Territory to effectively coordinate data collection activities and provide consultation to Government Departments for avoiding unnecessary duplication, etc.

Background

The Collection of Statistics Act, 2008 was enacted to facilitate the collection of statistics on economics, demographic, social, scientific and environmental aspects etc. The Act extends to the whole of India, except Jammu & Kashmir. The Jammu & Kashmir State legislature enacted the Jammu & Kashmir Collection of Statistics Act, 2010, which extends to the whole of the State of Jammu & Kashmir and is almost a replica of the central legislation. The Collection of Statistics Act, 2008 and the Jammu & Kashmir Collection of Statistics Act, 2010 are not applicable to statistical subjects falling in the Union List, as applicable to the Jammu & Kashmir under the Constitution (Application to Jammu & Kashmir) Order 1954. This has created a legislative vacuum. Moreover, the concurrent jurisdiction to be exercised by the Centre in Jammu & Kashmir has also not been provided for, in the Collection of Statistics Act, 2008. The amendment is intended to address this vacuum.

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