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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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Voltas standalone net profit rises 235.86% in the December 2016 quarter
Feb 15,2017

Net profit of Voltas rose 235.86% to Rs 103.41 crore in the quarter ended December 2016 as against Rs 30.79 crore during the previous quarter ended December 2015. Sales declined 6.75% to Rs 1012.60 crore in the quarter ended December 2016 as against Rs 1085.85 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales1012.601085.85 -7 OPM %9.261.82 - PBDT150.4343.83 243 PBT145.8939.11 273 NP103.4130.79 236

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Milkfood standalone net profit declines 84.62% in the December 2016 quarter
Feb 15,2017

Net profit of Milkfood declined 84.62% to Rs 0.64 crore in the quarter ended December 2016 as against Rs 4.16 crore during the previous quarter ended December 2015. Sales rose 1.48% to Rs 110.73 crore in the quarter ended December 2016 as against Rs 109.11 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales110.73109.11 1 OPM %5.388.68 - PBDT2.975.96 -50 PBT0.644.16 -85 NP0.644.16 -85

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Reliance Defence and Strata Manufacturing PJSC, UAE sign MoU
Feb 15,2017

Strata Manufacturing PJSC (Strata), the advanced composite aero-structures manufacturing company, wholly owned by Mubadala Development Company, the United Arab Emirates (UAE) and Reliance Defence, a wholly owned subsidiary of Reliance Infrastructure, have signed a Memorandum of Understanding (MoU) to collaborate on advanced aerospace manufacturing capabilities between India and theUAE.

The potential partnership, which follows extensive discussions between the two companies, will look at opportunities in the production of Carbon Fibre Composites Aerostructures, Prepegs as well as 3D printing of aerospace components and airframe panels. This collaboration is in linewith Stratas vision to become one of the top aerospace companies globally.

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Board of MOIL recommends dividend
Feb 15,2017

MOIL 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 5 per equity Share (i.e. 50%) , subject to the approval of the shareholders.

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McNally Bharat Engineering Company to hold board meeting
Feb 15,2017

McNally Bharat Engineering Company will hold a meeting of the Board of Directors of the Company on 17 February 2017, to consider issuance of securities through preferential allotment and determining issue price.

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FPIs turn sellers
Feb 15,2017

Foreign portfolio investors (FPIs) sold stocks worth a net Rs 15.08 crore into the secondary equity markets yesterday, 14 February 2017, compared with net inflow of Rs 300.94 crore during the preceding trading session on 13 February 2017. The net outflow of Rs 15.08 crore on 14 February 2017 was a result of gross purchases of Rs 4397.21 crore and gross sales of Rs 4412.29 crore. On that day, the Sensex fell 12.31 points or 0.04% to settle at 28,339.31, its lowest closing level since 10 February 2017.

There was an outflow of Rs 1.35 crore from the category primary market & others on 14 February 2017, which was a result of gross purchases of Rs 0.67 crore and gross sales of Rs 2.02 crore.

FPIs have bought stocks worth a net Rs 1636.70 crore in February 2017 so far (till 14 February 2017). They sold stocks worth a net Rs 1315.13 crore in January 2017. FPIs have purchased shares worth a net Rs 321.57 crore from the secondary equity markets in calendar year 2017 (till 14 February 2017). FPIs had purchased shares worth a net Rs 12094.42 crore from the secondary equity markets in calendar year 2016.

There has been a net inflow of Rs 1308.28 crore from FPIs in the category primary market & others in February 2017 so far (till 14 February 2017). There was a net inflow of Rs 138.53 crore from FPIs in the category primary market & others in January 2017. FPIs have purchased shares worth a net Rs 1446.81 crore in the category primary markets & others in calendar year 2017 (till 14 February 2017). The net inflow from FPIs in the category primary markets & others had totaled Rs 8471.76 crore in calendar year 2016.

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Cyient Inc. and ASE S.p.A, Italy collaborate for joint market development of products
Feb 15,2017

ASE S.p.A, a privately owned Italian Company, supplier of electrical power generation and distribution systems to the international aerospace and defence industry, and Cyient Inc. (subsidiary of Cyient) announced a joint go-to-market agreement for joint market development of products in the electric power generation area.

This collaboration is intended to provide full life-cycle services, products and systems to the aerospace and defence industry.

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Jagran Prakashan provides update on subsidiary, Music Broadcast
Feb 15,2017

Jagran Prakashan announced that Music Broadcast, subsidiary of the Company has commenced broadcast from its Radio Station at Madhurai (which was acquired under Phase III auctions held last financial year).

The frequency for Madhurai location is 91.9 F.M.

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Centum Electronics revises record date for interim dividend
Feb 15,2017

Centum Electronics has fixed 23 February 2017 as the Revised Record Date for the purpose of Payment of Interim Dividend.

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Net 4 India to hold board meeting
Feb 15,2017

Net 4 India will hold a meeting of the Board of Directors of the Company on 21 February 2017, to consider, approve and take on record the Un- Audited Financial Results of the Company for the Quarter Ended on 31 December 2016.

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Vyapar Industries to hold board meeting
Feb 15,2017

Vyapar Industries will hold a meeting of the Board of Directors of the Company on 17 February 2017, to consider the proposal for buyback of equity shares of the Company, quantum & mode of buyback, constitution of buyback committee, Record Date for the purpose of buyback, appointment of intermediaries and other matters incidental thereto;

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Ind-Ra: CE Loan Delinquencies to Abate in FY18; Full Recovery for Tractor Loans to Take Longer
Feb 15,2017

India Ratings and Research (Ind-Ra) has taken the following actions on the outlooks for the following underlying asset classes, primarily a part of the ABS and RMBS transactions, in its rated portfolio for FY18: 
 Asset Class OutlookFY17FY18ActionCommercial vehicle loansStableStable to NegativeRevisedLoans against propertyStableStable to NegativeRevisedTractor loansNegativeStable to NegativeRevisedConstruction equipment loans (CE)NegativeStableRevisedMicrofinance loans*-Stable to NegativeAssignedResidential mortgage loansStableStableMaintained

* This sector was not included in the FY17 outlook report.

The agency has revised the outlook on commercial vehicle loans to stable to negative for FY18 from stable for FY17. The agency believes that the combined effect of the marginal 0.4% yoy growth in industrial activity and 8% increase in diesel price without a similar improvement in freight rates over April to November 2016 will stall the asset quality recovery process, which has been made more uncertain because of demonetisation.

The agency has revised the outlook on the loans against property segment to stable to negative for FY18 from stable in FY17. The agency expects that the prevailing slowdown in property prices with high levels of existing inventory and the pressure to move towards a formal business model will continue to weigh on small and medium enterprises, increasing asset quality pressures for them. Also, the larger share of high ticket size collateral (above INR10 million) on the books of non-banking finance companies, which forms a small component of sales in most cities (and hence illiquid collateral), would render achieving recovery difficult, if there is a spike in default rates.

The agency has revised the outlook on tractor loans to stable to negative for FY18 from stable in FY17. The prospect of a strong agricultural production output in 2017 amid a healthy monsoon in 2016 is likely to provide respite to tractor loan borrowers. Also, budgetary support to farm income as announced in the Union Budget 2017-2018 and the average 16% hike in minimum support price for food grains in FY17 YTD (the highest in last five years), blunted to some extent by the hike in diesel prices, would support asset quality improvement. However, high peak defaults reached in the agencys tractor loan portfolio in the last 12 months may not ease swiftly, considering the abrupt cash shortage in the farm sector post demonetisation and with revival expected to be synchronised with future crop cycles.

The agency has revised the outlook on CE loans to stable for FY18 from negative in FY17. Ind-Ra expects the 21% and 24% yoy growth in infrastructure spending in FY16 and FY17, respectively, to mark FY18 as a turnaround year for CE loans. The peak 90+dpd delinquency rate of Ind-Ra rated CE loan portfolio for 2014 vintage was 4% within three years from issuance i.e. a 28% reduction relative to the average peak 90+ dpd delinquency rates of 5.6% for the loans of the 2012 and 2013 vintages.

The agency has assigned a stable to negative outlook on microfinance loans for FY18. Ind-Ra expects that the marginal increase in agri and non-agri based rural wages in FY17 shall provide limited boost to MFI (microfinance institutions) borrowers income, because of growing borrower leverage and hence it is likely to cause asset quality issues. A temporary surge in weighted average delinquencies to 3.45% (0+dpd) in November 2016 for all Ind-Ra rated MFI pools on account of demonetisation would stabilise with improving re-monetisation. However, demonetisation and other local incidents from time-to-time prove that MFI borrowers would continue to be highly subject to idiosyncratic stress.

Ind-Ra rated structured finance transactions including ABS and RMBS, however, are likely to show a stable performance in FY18. Key factors driving the stable outlook include lower actual delinquencies on the underlying asset pool than the agencys initial estimates. Additionally, with higher pool amortisation and original credit enhancement remaining intact, credit enhancement cover shall increase for the outstanding transactions.

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Panacea Biotec drops after weak Q3 result
Feb 15,2017

Net sales declined 33.97% to Rs 99.33 crore in Q3 December 2016 over Q3 December 2015. The result was announced after market hours yesterday, 14 February 2017.

Meanwhile, the BSE Sensex was down 183.75 points, or 0.65%, to 28,155.56

On the BSE, so far 59,000 shares were traded in the counter, compared with average daily volumes of 32,808 shares in the past one quarter. The stock had hit a high of Rs 145 and a low of Rs 129 so far during the day. The stock hit a 52-week high of Rs 178.30 on 27 January 2017. The stock hit a 52-week low of Rs 85.50 on 26 May 2016.

The small-cap company has equity capital of Rs 6.13 crore. Face value per share is Re 1.

Panacea Biotec is one of Indias leading research based biotechnology companies with established research, manufacturing and marketing capabilities.

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Board of Spectra Industries appoints company secretary and compliance officer
Feb 15,2017

Spectra Industries announced that the Board of Directors of the Company at its meeting held on 14 February 2017 has approved the appointment of Ruchita Shah as the Company Secretary and Compliance Officer of the Company.

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Board of Ritesh Properties & Industries approves appointment of directors
Feb 15,2017

Ritesh Properties & Industries announced that the Board of Directors of the Company at its meeting held on 14 February 2017 has approved the appointment of Virinder Jit Singh as Whole Time Director with effect from 14 February 2017 and appointment of Rohit Kumar Maggu as an Independent Director with effect from 14 February 2017.

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