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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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Bombay Burmah Trading Corporation to acquire additional stake in Bomaby Dyeing & Manufacturing Company
Mar 07,2017

Bombay Burmah Trading Corporation announced that the Finance Committee of Board of Directors of the Corporation at its meeting held on 06 March 2017 has proposed the Corporation to acquire additional shares in Bombay Dyeing & Manufacturing Company directly or through its wholly owned subsidiary, as part of internal restructuring of promoters holdings in Bombay Dyeing & Manufacturing Company.

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Regency Trust announces change in company secretary
Mar 07,2017

Regency Trust announced that Rebecca Nevis, Company Secretary of the Company had tendered her resignation with effect from February 28, 2017 for better prospect and the Company has now appointed Naina Kanagat as Company Secretary of the Company with effect from 07 March 2017.

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Tata Motors gains after luxury car making unit reports good sales in February
Mar 07,2017

The announcement was made during market hours today, 7 March 2017.

Meanwhile, the BSE Sensex was down 43.60 points, or 0.15%, to 29,004.59.

On the BSE, 2.15 lakh shares were traded in the counter so far, compared with average daily volumes of 5.59 lakh shares in the past one quarter. The stock had hit a high of Rs 475.80 and a low of Rs 466.60 so far during the day. The stock had hit a 52-week high of Rs 598.60 on 7 September 2016. The stock had hit a 52-week low of Rs 336.40 on 9 March 2016.

The stock had underperformed the market over the past one month till 6 March 2017, falling 10.39% compared with 2.14% rise in the Sensex. The scrip had also underperformed the market in past one quarter, gaining 6.65% as against Sensexs 10.06% gains.

The large-cap auto major has equity capital of Rs 577.47 crore. Face value per share is Rs 2.

Jaguar Land Rover (JLR), the UKs leading manufacturer of premium luxury vehicles and wholly owned subsidiary of Tata Motors has achieved its best ever February sales performance in 2017. JLRs total retail sales rose 9.3% to 40,978 vehicles in February 2017 over February 2016, primarily driven by continuing strong sales of the Jaguar F-PACE, XE, Land Rover Discovery Sport, Range Rover and Evoque with sales of the all new Land Rover Discovery now also under way.

By region, Jaguar Land Rovers global retail sales performance for February showed growth in China (40.4%), North America (16.2%) and the UK (14.2%) but down slightly in Europe (1.6%) and in other overseas markets (6.5%).

Jaguar retail sales jumped 81.1% to 12,203 vehicles in February 2017 over February 2016, driven by the ongoing success of the Jaguar F-PACE as well as solid sales of XE.

Land Rover retail sales fell 6.4% to 28,775 vehicles in February 2017 over February 2016, primarily reflecting the run-out of the Land Rover Defender and Discovery which was only partially offset by the introduction of the all-new Land Rover Discovery and continuing solid sales of the Discovery Sport, Range Rover and Range Rover Evoque.

Tata Motors consolidated net profit fell 96.2% to Rs 111.57 crore on 2.2% decline in net sales to Rs 66855.18 crore in Q3 December 2016 over Q3 December 2015.

Tata Motors is a market leader in commercial vehicles in India. The companys British luxury unit Jaguar Land Rover (JLR) sells premium luxury cars.

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Tata Motors announces Jaguar Land Rover sales performance
Mar 07,2017

Tata Motors announced that Jaguar Land Rover has achieved its bestever February sales performance in 2017, with total retail sales of 40,978 vehicles, up 9.3% on the prior year, primarily driven by continuing strong sales of the Jaguar F-PACE, XE, Land Rover Discovery Sport, Range Rover and Evoque with sales of the all new Land Rover Discovery now alsounder way.

By region, Jaguar Land Rovers global retail sales performance for February showed growth in China (40.4%), North America (16.2%) and the UK (14.2%) but down slightly in Europe (1.6%) and in otheroverseas markets (6.5%).

Jaguar retail sales were 12,203 vehicles, up 81.1%, compared to February 2016, driven by the ongoing success of the Jaguar F-PACE as well as solid sales of XE.

Land Rover retailed 28,775 vehicles in February 2017, down 6.4% compared to February 2016, primarily reflecting the run-out of the Land Rover Defender and Discovery which was only partially offset by the introduction of the all-new Land Rover Discovery and continuing solid sales of the Discovery Sport, Range Rover and Range Rover Evoque.

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Asian Granito India advances after bulk deal
Mar 07,2017

Meanwhile, the S&P BSE Sensex was down 43.58 points, 0.14% to Rs 29,008.49.

On the BSE, 73,000 shares were traded on the counter so far as against the average daily volumes of 73,196 shares in the past one quarter. The stock had hit a high of Rs 287.40 so far and a low of Rs 283.35 so far during the day.

The stock had hit a record high 304 on 28 September 2016 and a 52-week low of Rs 137.80 on 9 March 2016.

The small-cap company has equity capital of Rs 30.09 crore. Face value per share is Rs 10.

GMO Emerging Domestic Opportunities Fund bought 4.57 lakh shares at Rs 274.99 per share.

Jagdishbhai Ramanbhai Patel sold 5.83 lakh shares at Rs 275.08 per share of the company. Jagdishbhai Ramanbhai Patel held 3.226% stake in Asian Granito India end December 2016.

Asian Granito Indias consolidated net profit rose 33.4% to Rs 9.34 crore on 4.28% increase in net sales to Rs 245.67 crore in Q3 December 2016 over Q3 December 2015.

Asian Granito India is one of the largest ceramic companies in India. The company manufactures and markets interior & infrastructure products like vitrified wall & floor tiles, porcelain, natural marble composite and quartz.

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PNC Infratech advances after being declared as lowest bidder for highway project
Mar 07,2017

The announcement was made after market hours yesterday, 6 March 2017.

Meanwhile, the S&P BSE Sensex was down 64.64 points, or 0.22%, to 28,983.55

On BSE, so far 85,000 shares were traded in the counter, compared with an average volume of 17,123 shares in the past one quarter. The stock hit a high of Rs 107.80 and a low of Rs 103.75 so far during the day.

The stock hit a record high of Rs 134.90 on 25 August 2016. The stock hit a 52-week low of Rs 95 on 4 March 2016. The stock had underperformed the market over the past 30 days till 6 March 2017, falling 4.69% compared with 2.86% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 9.12% as against Sensexs 10.06% gains.

The small-cap company has an equity capital of Rs 51.31 crore. Face value per share is Rs 2.

PNC Infratech was declared the L1 (lowest) bidder for NHAI project of six laning Chitradurga - Davanagere including Chitradurga bypass of NH 48 (Old NH-4) in Karnataka under NHDP V, to be executed on hybrid annuity mode for a bid project cost of Rs 1434 crore. Four firms participated in the bidding and the price bids were opened on 6 March 2017, with PNCs bid being the lowest (L1). This is the second hybrid annuity project won by PNC having construction period of 2 n++ years and operation period of 15 years.

PNC Infratechs consolidated net profit rose 70.28% to Rs 59.36 crore on 22.23% fall in total income to Rs 578.33 crore in Q3 December 2016 over Q3 December 2015.

PNC Infratech is an infrastructure construction, development and management company, with expertise in execution of major infrastructure projects, including highways, bridges, flyovers, airport runways, power transmission lines, development of industrial areas and other infrastructure activities.

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Cabinet approves MoU between India and Portugal on cooperation in the field of IT&E
Mar 07,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its ex-post facto approval for the Memorandum of Understanding (MoU) between India and Portugal on cooperation in the field of IT&E. The MoU was signed on 06 January 2017.

The MoU will help in developing a long term and sustainable cooperation on the basis of equality and mutual interest in the areas of IT&E in line with each countrys laws and regulations.

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Jindal Poly Films gains after board approves expansion plans
Mar 07,2017

The announcement was made after market hours yesterday, 6 March 2017.

Meanwhile, the S&P BSE Sensex was down 39.54 points or 0.14% at 29,008.65.

On the BSE, 15,701 shares were traded in the counter so far as against average daily volume of 14,889 shares in the past one quarter. The stock had hit a high of Rs 331.10 and a low of Rs 318 so far during the day. The stock had hit a 52-week high of Rs 538.75 on 11 May 2016. The stock had hit a 52-week low of Rs 300 on 27 December 2016.

The stock had underperformed the market over the past one month till 6 March 2017, falling 6.16% compared with 2.14% rise in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 12.05% as against Sensexs 10.06% gains.

The small-cap company has equity capital of Rs 43.79 crore. Face value per share is Rs 10.

Jindal Poly Films said that investment will be made in polyester line - H, (PET). B. C.P. plant for manufacturing of polyester chips to be used for internal consumption to manufacture BOPET (biaxially-oriented polyethylene terephthalate) film.

After the commencement of line, the combined capacity of BOPET films will be totaling to 1,82,000 tonnes per annum.

Jindal Poly Films consolidated net profit fell 27.4% to Rs 38.49 crore on 7.8% drop in net sales to Rs 1520.55 crore in Q3 December 2016 over Q3 December 2015.

Jindal Poly Films is a flagship company of B C Jindal group and is engaged in diverse business activities including manufacturing of polyester film, polypropylene film, steel pipes and photographic products.

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Fairchem Speciality to hold board meeting
Mar 07,2017

Fairchem Speciality will hold a meeting of the Board of Directors of the Company on 9 March 2017, to consider approving the Scheme of Arrangement between Privi Organics Limited and Fairchem Speciality Limited (formerly Adi Finechem Limited) and Adi Aromatic Limited and their respective shareholders and creditors(Scheme of Arrangement)

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Cabinet approves Revised Cost Estimate-I of Koteshwar Hydro Electric Project in Uttarakhand
Mar 07,2017

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi has approved the Revised Cost Estimate-I of 400 MW Koteshwar Hydro Electric Project (HEP) in Uttarakhand at an estimated completion cost of Rs.2,717.35 crore.

The project is being implemented by Tehri Hydro Development Corporation (THDC) India Limited.

In addition to additional generating capacity of 400 MW of peaking power it will regulate releases from Tehri Reservoir for irrigation and drinking water supply. The reservoir of Koteshwar HEP will also act as lower reservoir for under construction Tehri PSP (1000 MW).

Background:

The Project has already been commissioned fully in March, 2012. Only balance works are to be done which are not linked with operation of the Plant but essential for safety and completion of the project.

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Tech Mahindra gains after acquiring US-based healthcare IT services & consulting firm
Mar 07,2017

The announcement was made after market hours yesterday, 6 March 2017.

Meanwhile, the S&P BSE Sensex was down 11.86 points or 0.04% at 29,036.33.

On the BSE, 42,173 shares were traded in the counter so far as against average daily volume of 1.41 lakh shares in the past one quarter. The stock had hit a high of Rs 509.90 and a low of Rs 503.35 so far during the day. The stock had hit a 52-week high of Rs 563.75 on 30 May 2016. The stock had hit a 52-week low of Rs 405.10 on 17 October 2016.

The stock had outperformed the market over the past one month till 6 March 2017, advancing 4.66% compared with 2.14% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, gaining 7.32% as against Sensexs 10.06% gains.

The large-cap company has equity capital of Rs 486.72 crore. Face value per share is Rs 5.

CJS Solutions Group LLC is a US-based healthcare Information Technology consulting company which does business as (DBA) n++The HCI Group.n++ The acquisition will strengthen companys position in healthcare provider space and give access to marquee customers and healthcare consultants.

Headquartered in Jacksonville, Florida, The HCI Group works with some of the worlds most prestigious Tier-I healthcare service providers, primarily in the US and UK, focusing on providing end-to-end implementation of electronic health record (EHR) and electronic medical record (EMR) software, training and support services.

The HCI Group has a large pool of Epic and Cerner (healthcare software) certified professionals, and it is a leading implementation firm for these leading companies globally. The company also has a presence in Europe, Middle East and Asia Pacific, and employs more than 500 professionals globally.

The HCI Groups services include enterprise-wide advisory services, with a focus on IT system implementation and training, as well as specialty service lines in integration, testing, go-live, clinical adoption, optimization, HIMSS EMRAM and cyber security.

For 12-month period ended 30th September 2016, the HCI Group had revenues of $114 million. The enterprise value is $110 million; Tech Mahindra will make an upfront payment of $89.5 million for purchase of 84.7% stake in the company. The balance stake of 15.3% will be acquired over a period of three years. The transaction is expected to close by April 2017, subject to the regulatory approvals.

Tech Mahindras consolidated net profit rose 31.31% to Rs 844.86 crore on 5.44% growth in net sales to Rs 7557.50 crore in Q3 December 2016 over Q2 September 2016.

Tech Mahindra is a specialist in digital transformation, consulting and business re-engineering solutions.

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Cabinet approves Indias accession to the Customs Convention on International Transport of Goods under cover of TIR Carnets (TIR Convention)
Mar 07,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for Indias accession to the Customs Convention on International Transport of Goods under cover of TIR Carnets (TIR Convention) and for completion of necessary procedures for ratification, for its entry into force.

The Convention will help Indian traders to have access to fast, easy, reliable and hassle free international system for movement of goods by road or multi- modal means across the territories of other contracting parties.

By joining the convention, the need for inspection of goods at intermediate borders as well as physical escorts en route shall be obviated due to reciprocal recognition of Customs controls. Customs clearance can take place at internal Customs locations thereby avoiding clearances at Border Crossing Points and ports that may often be congested. Movement under the TIR can be allowed by checking only the seals and the external conditions of the load compartment or the container thereby reducing border delays, transport and transaction costs thereby leading to increased competitiveness and growth for the trade and transport sectors.

Compliance with the Convention shall ensure enhanced security in the supply chain as only approved transporters and vehicles are allowed to operate in terms of the Convention. As the TIR Carnet represents a guarantee for Customs duties and taxes and traffic in transit, there is no need for payment of such taxes and duties en route. The TIR carnet also serves as a Customs declaration, and hence it precludes the need to file multiple declarations satisfying national laws of the different transiting countries. The TIR Convention can be an instrument for movement of goods along the International North-South Transport (INSTC) Corridor and would be helpful in boosting trade with the Central Asian Republics and other Commonwealth of Independent States (CIS), particularly using ports in Iran like the Chabahar port.

The proposal does not result in any direct financial implication for the Government of India as it pertains to Indias accession to an international convention.

Background:

The Customs Convention on International Transport of Goods under cover of TIR Carnets, 1975 (TIR Convention), is an international transit system under the auspices of the United Nations Economic Commission for Europe (UNECE) to facilitate the seamless movement of goods within and amongst the Parties to the Convention. At present there are 70 parties to the Convention, including the European Union.

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Capital First gets upgradation in credit ratings
Mar 07,2017

Capital First announced that Brickworks Ratings India has upgraded the ratings of the Companys various debt instruments (existing & unutilized) including Secured Non-Convertible Debentures and Subordinated Debt Instruments has been upgraded from BWR AA + (Pronounced BWR Double A Plus) (Outlook : Positive) to BWR AAA (Pronounced BWR Triple A) (Outlook : Stable). Further the outstanding ratings of existing Perpetual Debts instruments (IPDI) have also been upgraded from BWR AA (Pronounced BWR Double A) (Outlook : Positive) to BWR AA+ (Pronounced BWR Double A Plus A) (Outlook : Stable).

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Cabinet approves Memorandum of Understanding (MoU) on Renewable Energy between India and Portugal
Mar 07,2017

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its ex-post facto approval for signing of a Memorandum of Understanding (MoU) on Renewable Energy between India and Portugal. The MoU was signed on 6th January, 2017 in New Delhi.

The MoU will help in strengthening bilateral cooperation between the two countries.

Both sides aim to establish the basis for a cooperative institutional relationship to encourage and promote technical bilateral cooperation on new and renewable issues on the basis of mutual benefit equality and reciprocity. The MoU envisages constitution of a Joint Working Group which can co-opt other members from Scientific Institutions, Research Centers, Universities, or any other entity, as and when considered essential.

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Arfin India surges after new order win
Mar 07,2017

The announcement was made after market hours yesterday, 6 March 2017.

Meanwhile, the S&P BSE Sensex was up 5.12 points or 0.02% at 29,053.31

On the BSE, 860 shares were traded on the counter so far as against the average daily volumes of 1,640 shares in the past one quarter. The stock had hit a high of Rs 519.90 and a low of Rs 500 so far during the day. The stock had hit a record high of Rs 565 on 9 February 2017. The stock had hit a 52-week low of Rs 96.70 on 18 April 2016.

The small-cap company has equity capital of Rs 4.05 crore. Face value per share is Rs 10.

Arfin Indias net profit rose 114.47% to Rs 3.26 crore on 53.6% growth in net sales to Rs 88.38 crore in Q3 December 2016 over Q3 December 2015.

Arfin India is engaged in manufacturing aluminum products. The company forayed itself as in the aluminum recycling and ferro alloys segment in the year 2001. It is a registered member of the Aluminum Association of India, BIR (Bureau of International Recycling) and MRAI (Metal Recycling Association of India).

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