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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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Marathon Nextgen Realty to hold board meeting
Sep 08,2016

Marathon Nextgen Realty will hold a meeting of the Board of Directors of the Company on 14 September 2016.

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TCS tumbles on outlook warning
Sep 08,2016

Meanwhile, the BSE Sensex was down 16.91 points, or 0.06%, to 28,909.45.

On BSE, so far 1.23 lakh shares were traded in the counter, compared with average daily volume of 66,344 shares in the past one quarter. The stock hit a high of Rs 2,367 and a low of Rs 2,287 so far during the day. The stock hit a 52-week high of Rs 2,769 on 5 October 2015. The stock hit a 52-week low of Rs 2,119 on 29 February 2016. The stock had underperformed the market over the past 30 days till 7 September 2016, falling 7.68% compared with 3% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 5.06% as against Sensexs 8.08% rise.

The large-cap company has equity capital of Rs 197.04 crore. Face value per share is Re 1.

TCS announced after market hours yesterday, 7 September 2016, that it intends to update investors on business trends in Q2 September 2016. Based on data at the end of August 2016, the company has characterized customer outlook as one marked by abundant caution, with some holding back of discretionary spending - particularly in the banking, financial services and insurance (BFSI) vertical in the United States - resulting in a sequential loss of momentum.

The BFSI vertical reportedly contributed around 40% to the companys revenue in Q1 June 2016.

Meanwhile, some other media reports suggested that TCS chief marketing officer (CMO) John Lenzen has quit. Lenzen, who was based out of Chicago, joined TCS in 2004, and was a member of the Tata Group Brand Advisory Council. He has already updated his LinkedIn profile and lists his current designation as CMO at CareerBuilder, a Chicago-based recruitment software firm, reports added.

TCS consolidated net profit fell 0.4% to Rs 6317 crore on 3% rise in revenue to Rs 29305 crore in Q1 June 2016 over Q4 March 2016.

TCS is an IT services, consulting and business solutions organization. The company offers a consulting-led, integrated portfolio of IT, BPS, infrastructure, engineering and assurance services.

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Ashok Leyland turns volatile after announcing restructuring pact with Nissan Motor
Sep 08,2016

The announcement was made after market hours yesterday, 7 September 2016.

Meanwhile, the S&P BSE Sensex was down 12.69 points or 0.04% at 28,913.67.

On BSE, so far 4.04 lakh shares were traded in the counter as against average daily volume of 12.87 lakh shares in the past two weeks. The stock was volatile. The stock lost as much as 1.01% at the days low of Rs 87.60 so far during the day. The stock rose as much as 1.29% at the days high of Rs 89.65 so far during the day. The stock had hit a 52-week low of Rs 78.05 on 11 February 2016. The stock had hit a record high of Rs 112.80 on 13 April 2016. The stock had underperformed the market over the past one month till 7 September 2016, advancing 0.51% compared with 3.02% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 16.51% as against Sensexs 7.1% rise.

The large-cap company has equity capital of Rs 284.59 crore. Face value per share is Rs 1.

Ashok Leyland announced a restructuring agreement with Nissan Motor Co. that will enable both companies to enter into a new phase in their business interaction. Nissan has agreed to sell to Ashok Leyland all of Nissans shares in three joint venture (JV) companies that were formed in 2008. These JVs focus on technology development, and manufacturing of powertrains and vehicles. Under the agreement, these JVs will become wholly-owned Ashok Leyland subsidiaries, upon receipt of all necessary approvals from the regulatory authorities in India. The process is expected to be concluded later this year, Ashok Leyland said.

Ashok Leylands Managing Director Vinod Dasari said that the company has decided to acquire Nissans stake in the three JV companies, and this will help Ashok Leylands efforts to concentrate on its core business initiatives and its customers. Ashok Leyland will continue its relationship with Nissan under the new arrangement, Dasari added.

Ashok Leylands net profit jumped 101.2% to Rs 290.78 crore on 10.6% growth in net sales to Rs 4175.79 crore in Q1 June 2016 over Q1 June 2015.

Ashok Leyland is one of the leading manufacturers of medium and heavy commercial vehicles in India.

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M/o Tourism approves projects of Rs. 450 Crore under Swadesh Darshan for Madhya Pradesh, Uttarakhand, Tamil Nadu, Uttar Pradesh and Sikkim
Sep 08,2016

The Central Sanctioning and Monitoring Committee (CSMC) for the Swadesh Darshan Scheme in Ministry of Tourism has approved projects to the tune of Rs. 450 Crore for development of Heritage circuit in Madhya Pradesh and Uttarakhand, Ramayana Circuit in Uttar Pradesh, North East Circuit in Sikkim and Coastal Circuit of Tamil Nadu.

The Heritage Circuit in state of Madhya Pradesh, covers Gwalior- Orchha- Khajuraho-Chanderi-Bhimbetka-Mandu with total project cost of approximately Rs. 100.00 Crore. The project envisages world class infrastructural development of the sites which includes developing a Theme Park and Convention centre in Khajuraho, Sound and Light Show in Mandu. Site Illumination, Construction of Tourist Facilitation Centres and parking area are other intervention proposed in the circuit. The Heritage Circuit in Uttarakhand is on developing Tourism Infrastructure in Jageshwar-Devidhura-Katarmal-Baijnath sites with total project cost of approximately Rs.83 Crore. The highlights of project in Uttarakhand are development of Eco Log Huts, Sound and Light Show and Upgradation of Temple Pathways.

Coastal circuit in State of Tamil Nadu envisages development Chennai- Mamamallapuram-Rameshwaram-Manpadu-Kanyakumari with total project cost of approximately Rs.100 Crore has been approved. Sound and Light Show, development of Beach amenities, Construction of Pedestrian Bridge connecting Vivekanand memorial with Tiruvalluvar Statue are major highlights of project.

Ramayana Circuit in State of Uttar Pradesh envisages development of two destinations viz. Chitrakoot and Shringverpur. The Project cost for this circuit is approximately Rs.70 Crore for development of Parikrama marg, food Plaza, Laser Show, Foot Over Bridge connecting MP and UP part of Chitrakoot. Development of Ghats, Tourist Facilitation Centre and Parking area. Ramayana Circuit in Uttar Pradesh also includes Ayodhya for which the State Tourism Department of Uttar Pradesh is preparing Detailed Project Report (DPR).

North East circuit in State of Sikkim with approximate project cost of Rs.95.50 Crore includes development of eco log huts, cultural centre, paragliding centre, craft bazaar, base camp for mountaineering and meditation hall.

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ONGC gains after Q1 results
Sep 08,2016

The result was announced after market hours yesterday, 7 September 2016.

Meanwhile, the BSE Sensex was down 28.53 points, or 0.10%, to 28,897.83.

On BSE, so far 3.07 lakh shares were traded in the counter, compared with average daily volume of 6.62 lakh shares in the past one quarter. The stock hit a high of Rs 254.70 and a low of Rs 247.85 so far during the day. The stock hit a 52-week high of Rs 267.65 on 12 October 2015. The stock hit a 52-week low of Rs 188 on 12 February 2016. The stock had outperformed the market over the past 30 days till 7 September 2016, rising 7.03% compared with 3% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 11.41% as against Sensexs 8.08% rise.

The large-cap company has equity capital of Rs 4277.75 crore. Face value per share is Rs 5.

ONGC has notified seven (7) new discoveries in Q1 June 2016 and eight (8) so far in the financial year ending March 2017 (3 new prospect discoveries and 5 new pool discoveries).

The company reported 2.02% decline in total crude oil production to 6.012 million metric tonne (MMT) in Q1 June 2016 over Q1 June 2015.

The company reported 17.78% decline in net realisation of crude oil to Rs 3085 per bbl in Q1 June 2016 over Q1 June 2015. In Dollar terms, the company reported 21.97% decline in net realisation of crude oil to $46.10 per bbl in Q1 June 2016 over Q1 June 2015.

ONGC did not bear any under-recovery discount in Q1 June 2016. However, in terms of the decision of the Government of India, the company had shared under-recoveries of oil marketing companies (OMCs) amounting to Rs 1096 crore in Q1 June 2015 by allowing discount in the prices of crude oil based on the rates of discount communicated by Petroleum Planning and Analysis Cell (PPAC).

ONGC is Indias largest oil and gas exploration firm by sales.

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GAIL (India) gains after strong Q1 results
Sep 08,2016

The result was announced after market hours yesterday, 7 September 2016.

Meanwhile, the S&P BSE Sensex was down 3.50 points or 0.01% at 28,922.86.

On BSE, so far 60,000 shares were traded in the counter as against average daily volume of 2.32 lakh shares in the past two weeks. The stock hit a high of Rs 407 and a low of Rs 400 so far during the day. The stock had hit a 52-week high of Rs 407.80 yesterday, 7 September 2016. The stock had hit a 52-week low of Rs 272.75 on 7 September 2015.

The large-cap company has equity capital of Rs 1268.48 crore. Face value per share is Rs 10.

GAIL (India) attributed the sharp surge in its bottom line in Q1 June 2016 to turnaround in its petrochemical business and partial sale of stake in Mahanagar Gas. The companys profit after tax (PAT) excluding gain from stake sale in Mahanagar Gas rose 118% to Rs 846 crore in Q1 June 2016 over Q1 June 2015. The companys bottom line growth during the quarter was also supported by increase in natural gas sales and transmission volumes.

Meanwhile, shares of GAIL (India) turned ex-dividend today, 8 September 2016, for final dividend of Rs 3 per share for the year ended 31 March 2016 (FY 2016). Before turning ex-dividend, the stock offered a dividend yield of 0.75% based on the closing price of Rs 396.50 on BSE yesterday, 7 September 2016.

State-run GAIL (India) is Indias largest natural gas company with a market share of over 80% in natural gas transmission. Apart from natural gas transmission, distribution and processing, GAIL has diversified business interests in LPG transmission, petrochemicals, city gas projects and exploration and production activities. Government of India (GoI) holds 56.11% stake in GAIL (as per shareholding pattern as on 30 June 2016).

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Shares of BLS International Services get listed
Sep 08,2016

The equity shares of BLS International Services (Scrip Code: 540073) are listed effective 08 September 2016 and admitted to dealings on the Exchange in the list of T Group Securities.

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Driving Licenses and Vehicle Registration Certificates can now be accessed through Mobile App
Sep 08,2016

Shri Nitin Gadkari, Minister of Road Transport & Highways and Shipping and Shri Ravi Shankar Prasad, Minister of Electronics & Information Technology and Law & Justice jointly launched a new service - integration of DigiLocker with Driving Licenses (DL) & Vehicle Registration Certificates (RC). With this integration people will no longer need to carry around physical copies of their RCs and Driving Licences. They can instead access digital copies of the same on their mobile phones via the DigiLocker mobile app. Driving Licenses and Vehicle Registration documents can now be issued directly to the DigiLockers of individuals in digital formats. These digital copies can be shared with other departments as identity and address proof. They will also be used for on the spot verification through the cittizens mobile, by various law enforcement authorities like the Traffic Police. Besides being convenient for people, this will also result in assured authenticity of such documents and reduction of administrative overhead.

Speaking on the occasion Shri Nitin Gadkari said that this platform is a major step forward towards ensuring greater transparency and cutting down corruption and red-tapism. He said the move will benefit a large number of people by facilitating ease of access to the documents.

Launching the service Shri Ravi Shankar Prasad said that the integration will bring a paradigm shift in the vision of paperless governance. It will serve to bring agility and efficiency to the entire process of issuance of driving licenses and vehicle registration certificates through IT enablement.

DigiLocker, launched by the Prime Minister Shri Narendra Modi in July last year, aims at transforming India into a digitally empowered society and knowledge economy. It is a platform for issuance and verification of documents and certificates digitally. When a person signs up for a DigiLocker he gets access to a dedicated cloud storage space for his important documents. DigiLocker currently has 21,26,332 registered users with 24,11,702 uploaded documents and has issued over 4,26,73,232 documents as on 01 September 2016. The Ministry of Road Transport and Highways is actively digitizing driving licences and registration certificates and maintaining a National Register System. With todays launch this National Register System has got integrated with DigiLocker, making over 19 crore Vehicle Registration Certificates and over 9 crore driving licenses available in the citizens lockers. Once the data from the remaining RTOs is updated in the National Register Systems, the digital copies of those driving licenses and vehicle registration certificates will also be available via DigiLocker.

In order to access the digital RC and DL a person needs to first sign up for a DigiLocker. He then needs to download the DigiLocker Android App from Google PlayStore. In the Mobile App he will have to select the Issued Documents section and then the DL/RC. Field staff like the Traffic Police can do offline verification of RC/DL using QR Code. Apart from the mobile view version, digitally signed documents can also be accessed electronically, and these will be at par with the physical issued documents as per IT Act 2000.

Shri Ajay Kumar, Additional Secretary, MeitY informed that with integration, MoRTH becomes the 17th issuer to issue its documents to DigiLocker. He also informed that this is the largest such integration since DigiLocker was launched last July.

Shri Abhay Damle, Joint Secretary, MoRTH said that the Ministry is working towards intergrating even documents like vehicle insurance and fitness certificates to DigiLocker .

The integration is the result of continuous coordination between MoRTH and MeitY with technical support from National Informatics Centre and National e-Governance Division (NeGD) under the Ministry of Electronics & Information Technology.

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GAIL (India), ONGC in spotlight after announcing Q1 results
Sep 08,2016

GAIL (India)s net profit jumped 244.03% to Rs 1335.18 crore on 9.98% decline in total income to Rs 11457.20 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 7 September 2016.

Meanwhile, shares of GAIL (India) turn ex-dividend today, 8 September 2016, for final dividend of Rs 3 per share for the year ended 31 March 2016 (FY 2016).

ONGCs net profit dropped 21.15% to Rs 4232.54 crore on 20.23% decline in total income to Rs 18737.18 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 7 September 2016.

HDFC announced that it intends to raise Rs 1000 crore from issue of non-convertible debentures on private placement basis. The debentures will carry a coupon rate of 7.7% per annum and will have a tenor of 1 year 5 months. The issue opens and closes for subscription on the same day tomorrow, 9 September 2016. The announcement was made after market hours yesterday, 7 September 2016.

Wipro issued a press release after market hours yesterday, 7 September 2016 regarding updates on the companys engagement with Employees State Insurance Corporation (ESIC). In March 2009, Wipro had entered into a seven-year agreement with ESIC as a systems integrator for Project Panchdeep to set up a healthcare administration program under the build, own, operate and transfer model. Wipro said it had completed its obligations under the contract. However, ESIC has withheld certain amounts due to the company in an ad-hoc and arbitrary manner, which has resulted in a significant delay in collections for the company, Wipro said. The company has disputed this non-payment and is engaged with ESIC to recover the amounts due. If the company is not able to resolve this amicably in a reasonable time, it will take all necessary legal steps available to it, Wipro said. The agreement with ESIC expired on 8 June 2016 post which Wipro had no obligation to provide any services to ESIC, the company said. In spite of ESICs failure to make timely payments, Wipro at the request of ESIC and given the critical nature of the services for the citizens, agreed to provide support services for an additional period of three months, it said. As contractually agreed, Wipro will handover this project close of business hours on 8 September 2016, the company said.

Ashok Leyland after market hours yesterday, 7 September 2016, announced a restructuring agreement with Nissan Motor Co. that will enable both companies to enter into a new phase in their business interaction. Nissan has agreed to sell to Ashok Leyland all of Nissans shares in three joint venture (JV) companies that were formed in 2008. These JVs focus on technology development, and manufacturing of powertrains and vehicles. Under the agreement, these JVs will become wholly-owned Ashok Leyland subsidiaries, upon receipt of all necessary approvals from the regulatory authorities in India. The process is expected to be concluded later this year, Ashok Leyland said. Ashok Leylands Managing Director Vinod Dasari said that the company has decided to acquire Nissans stake in the three JV companies, and this will help Ashok Leylands efforts to concentrate on its core business initiatives and its customers. Ashok Leyland will continue its relationship with Nissan under the new arrangement, Dasari added.

Solar Industries Indias consolidated net profit rose 13.13% to Rs 47.11 crore on 10.8% rise in net total income from operations to Rs 461.45 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 7 September 2016.

Orient Paper & Industries announced that a meeting of the board of directors of the company will be held on 15 September 2016, to consider raising capital by way of rights issue of shares.The board will also consider various options for business restructuring of the company. The announcement was made after market hours yesterday, 7 September 2016.

Motherson Sumi Systems said that MSSL Manufacturing Hungary Kft., a subsidiary of MSSL GmbH, which in turn is a subsidiary of Motherson Sumi Systems is acquiring the Automotive Business Unit of Abraham es Tarsa Kft. (Abraham and Co. Ltd) located in Turkeve, Hungary on a going concern basis and would also give on lease part of acquired assets to SMR Hungary. With this transaction, which is expected to be completed in October 2016, MSSL through its 100% subsidiary, MSSL Manufacturing Hungary Kft., would acquire the land, building and machinery of Abraham es Tarsa Kft for a purchase price consideration of EUR 10.4 million.

Abraham es Tarsa is an expert for plastic processing and high quality products for car makers across Europe. SMR Hungary, a subsidiary of SMRP BV, holding 98.5% in SMR Hungary, which is ultimately held by MSSL, has for many years been the primary customer of Abraham es Tarsa Kft.

The integration of this business would allow to generate a number of operational synergies with SMR. This acquisition will increase the in house capability of SMR Hungary, and therefore will support SMRs position as technology and market leader for automotive mirrors in Hungary and Europe. The acquired unit will be further expanded to achieve group synergies through supplies to SMR and to the new facilities being set up by SMP in Europe to meet the demand for new orders from customers. The announcement was made after market hours yesterday, 7 September 2016.

NTPC turns ex-dividend today, 8 September 2016, for final dividend of Rs 1.75 per share for the year ended 31 March 2016 (FY 2016).

NHPC turns ex-dividend today, 8 September 2016, for final dividend of Rs 0.58 per share for FY 2016.

NBCC turns ex-dividend today, 8 September 2016, for dividend of Rs 2 per share for FY 2016.

Escorts turns ex-dividend today, 8 September 2016, for dividend of Rs 1.20 per share for FY 2016.

Cyient turns ex-dividend today, 8 September 2016, for special dividend of Rs 2.50 per share for FY 2016.

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GE T&D India reports standalone net loss of Rs 197.41 crore in the June 2016 quarter
Sep 07,2016

Net loss of GE T&D India reported to Rs 197.41 crore in the quarter ended June 2016 as against net profit of Rs 10.15 crore during the previous quarter ended June 2015. Sales rose 11.56% to Rs 854.56 crore in the quarter ended June 2016 as against Rs 765.98 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales854.56765.98 12 OPM %-21.063.06 - PBDT-221.2536.69 PL PBT-242.9115.54 PL NP-197.4110.15 PL

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IP Rings reports standalone net profit of Rs 0.99 crore in the June 2016 quarter
Sep 07,2016

Net profit of IP Rings reported to Rs 0.99 crore in the quarter ended June 2016 as against net loss of Rs 0.56 crore during the previous quarter ended June 2015. Sales rose 40.30% to Rs 38.05 crore in the quarter ended June 2016 as against Rs 27.12 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales38.0527.12 40 OPM %14.8210.80 - PBDT3.491.08 223 PBT1.51-0.57 LP NP0.99-0.56 LP

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Precision Camshafts standalone net profit rises 8.39% in the June 2016 quarter
Sep 07,2016

Net profit of Precision Camshafts rose 8.39% to Rs 18.48 crore in the quarter ended June 2016 as against Rs 17.05 crore during the previous quarter ended June 2015. Sales declined 0.50% to Rs 115.11 crore in the quarter ended June 2016 as against Rs 115.69 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales115.11115.69 -1 OPM %29.4527.70 - PBDT39.2536.20 8 PBT29.9426.32 14 NP18.4817.05 8

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Swelect Energy Systems standalone net profit declines 24.85% in the June 2016 quarter
Sep 07,2016

Net profit of Swelect Energy Systems declined 24.85% to Rs 3.87 crore in the quarter ended June 2016 as against Rs 5.15 crore during the previous quarter ended June 2015. Sales declined 52.30% to Rs 34.00 crore in the quarter ended June 2016 as against Rs 71.28 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales34.0071.28 -52 OPM %-4.717.76 - PBDT8.4610.62 -20 PBT5.867.83 -25 NP3.875.15 -25

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Surya Roshni standalone net profit rises 8.13% in the June 2016 quarter
Sep 07,2016

Net profit of Surya Roshni rose 8.13% to Rs 12.90 crore in the quarter ended June 2016 as against Rs 11.93 crore during the previous quarter ended June 2015. Sales rose 4.54% to Rs 741.15 crore in the quarter ended June 2016 as against Rs 708.95 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales741.15708.95 5 OPM %7.587.92 - PBDT32.6531.57 3 PBT17.8716.57 8 NP12.9011.93 8

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GAIL (India) standalone net profit rises 244.04% in the June 2016 quarter
Sep 07,2016

Net profit of GAIL (India) rose 244.04% to Rs 1335.18 crore in the quarter ended June 2016 as against Rs 388.09 crore during the previous quarter ended June 2015. Sales declined 14.64% to Rs 10686.58 crore in the quarter ended June 2016 as against Rs 12519.04 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales10686.5812519.04 -15 OPM %14.918.27 - PBDT2021.24910.53 122 PBT1685.80602.09 180 NP1335.18388.09 244

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