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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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Board of Future Retail approves demerger of its home retail business
Apr 20,2017

Future Retail announced that the Board of Directors of the Company at its meeting held on 20 April 2017 has approved segregation of the home retail business of the Company operated through HomeTown stores into Praxis Home Retail by way of a demerger.

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India Cements leads gainers in A group
Apr 20,2017

India Cements jumped 6.88% to Rs 186.50 at 13:42 IST. The stock topped the gainers in the BSEs A group. On the BSE, 32.57 lakh shares were traded on the counter so far as against the average daily volumes of 3.89 lakh shares in the past two weeks.

Sobha surged 6.65% at Rs 389.95. The stock was second biggest gainer in A group. On the BSE, 77,000 shares were traded on the counter so far as against the average daily volumes of 6.43 lakh shares in the past two weeks.

Oberoi Realty advanced 5.16% to Rs 401.60. The stock was third biggest gainer in A group. On the BSE, 79,000 shares were traded on the counter so far as against the average daily volumes of 18,000 shares in the past two weeks.

Grasim Industries gained 5.13% at Rs 1,135.25. The stock was fourth biggest gainer in A group. On the BSE, 72,000 shares were traded on the counter so far as against the average daily volumes of 25,000 shares in the past two weeks.

Jet Airways (India) rose 5.03% to Rs 504. The stock was fifth biggest gainer in A group. On the BSE, 6.65 lakh shares were traded on the counter so far as against the average daily volumes of 3.14 lakh shares in the past two weeks.

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Volumes jump at CG Power and Industrial Solutions counter
Apr 20,2017

CG Power and Industrial Solutions clocked volume of 92.43 lakh shares by 13:32 IST on BSE, a 55.39-times surge over two-week average daily volume of 1.67 lakh shares. The stock rose 0.25% to Rs 79.85.

Cyient notched up volume of 5.71 lakh shares, a 32.77-fold surge over two-week average daily volume of 17,000 shares. The stock rose 1.51% to Rs 502.35.

Jay Bharat Maruti saw volume of 2.90 lakh shares, a 29.44-fold surge over two-week average daily volume of 10,000 shares. The stock rose 17.28% to Rs 511.15.

India Cements clocked volume of 32.46 lakh shares, a 8.35-fold surge over two-week average daily volume of 3.89 lakh shares. The stock rose 6.88% to Rs 186.50.

Jain Irrigation Systems saw volume of 62.29 lakh shares, a 8.11-fold rise over two-week average daily volume of 7.68 lakh shares. The stock rose 3.71% to Rs 111.75.

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Moodys: Global green bond issuance robust in first quarter; second largest quarterly volume ever
Apr 20,2017

Global green bond first quarter 2017 volume increased strongly compared to the corresponding period a year ago after France (Aa2 stable) tapped the market with a EUR 7 billion ($7.5 billion) offering in January, Moodys Investors Service says in a new report. The countrys green bond was the largest to date and bodes well for additional sovereign issuance.

Green bond issuance remained healthy in the first quarter of 2017, reaching $29.5 billion, up 75% from the first quarter of 2016, according to Henry Shilling, the author of the report and a Moodys Senior Vice President. Volume in the first quarter was the second largest ever for a quarter, trailing only the $30.2 billion in the fourth quarter of 2016.

The report Green Bonds -- Global: Frances Sovereign Offering Propels Strong First-Quarter 2017 Issuance, says if the current trend continues, green bond issuance will total nearly $120 billion for the year and eclipse the record of $93.4 billion in 2016.

Renewable energy and energy efficiency projects were in the fore during the period to comprise the bulk of project types with the two accounting for 42% of total dollar issuance. As well, clean transportation was the third most popular category.

French issuers dominated the mix during the first quarter with roughly 40%, or $118 billion in deals. Likewise, corporate and investment grade issuers were prominent in the period, although financial institutions declined significantly with $5.4 billion in deals, or 18% of global volume.

The drop in financial institution issuance is primarily due to the significantly lower level of green bond issuance from Chinese banks. On the flip side, municipal issuers accounted for $5.1 billion of issuance in the first quarter, or 17%, up slightly from 12% for 2016, Shilling says. Issuance by Chinese entities fell 67% to $2.6 billion compared to Q1 2016.

During the first quarter, the average transaction size increased to $360 million on the basis of 82 transactions while the percentage of Aaa-rated transactions, based on Moodys ratings, continued to drop, reaching 14% from 25% share for all of 2016.

The report goes on to note that the green bond market is continuing to evolve. The number of sovereign issuers will likely increase, momentum from the Paris Agreement will expand the markets geographic reach and new security structures will continue to emerge.

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Kirloskar Pneumatic Company gets NCLT approval for scheme of arrangement and amalgamation
Apr 20,2017

Kirloskar Pneumatic Company announced that the Honble National Company Law Tribunal, Mumbai Bench on 19 April 2017 pronounced the order sanctioning the Scheme of Arrangement and Amalgamation between Kirloskar RoadRailer (transferor company 1), Pneumatic Holdings (transferor company 2) and Kirloskar Pneumatic Company (transferee company).

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Nalco nudges higher amid OFS by Govt
Apr 20,2017

Meanwhile, the S&P BSE Sensex was up 87.38 points or 0.3% at 29,423.95.

On the BSE, 9.29 lakh shares were traded on the counter so far as against the average daily volumes of 3.96 lakh shares in the past one quarter. The stock had hit a high of Rs 69.75 and a low of Rs 66.80 so far during the day.

The stock had hit a 52-week high of Rs 79.85 on 7 March 2017 and a 52-week low of Rs 40.25 on 20 May 2016. It had underperformed the market over the past one month till 19 April 2017, sliding 8.14% compared with the Sensexs 1.05% fall. The scrip had also underperformed the market over the past one quarter, declining 4.64% as against the Sensexs 7.43% rise.

The large-cap company has equity capital of Rs 966.46 crore. Face value per share is Rs 5.

National Aluminium Companys (Nalco) promoter, the Government of India (GoI) is selling upto 9.66 crore equity shares of the company, representing 5% stake with an additional option to sell up to 5% stake in the company in two trading sessions via offer for sale (OFS). The OFS for non-retail investors completed yesterday, 19 April 2017 and for retail investors and non-retail investors who chose to carry forward their un-allotted bids, the OFS is taking place today, 20 April 2017. The two-day OFS is through a separate, designated window on the stock exchanges.

The GoI held 74.58% stake in Nalco as per the shareholding pattern as on 31 March 2017.

The floor price for the OFS was fixed at Rs 67 per share. Retail investors will be allocated offer shares at a discount of 5% to the cut off price.

On the second day of the bidding for OFS today, 20 April 2017, as at 12:45 IST, bids were received for 2.44 crore shares from the retail investors, representing a subscription of 68.61%. The OFS received good response from non-retail investors category yesterday, 19 April 2017, with an oversubscription of 184.25%.

Shares of Nalco had tumbled 7.76% to settle at Rs 67.75 yesterday, 19 April 2017.

Nalcos net profit declined 2.7% to Rs 143.92 crore on 13.9% growth in net sales to Rs 1963.81 crore in Q3 December 2016 over Q3 December 2015.

State-run Nalco has integrated and diversified operations in mining, metal and power.

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Amended Mega Power Policy Potentially Unlocks Around INR40 Billion Funding to the Power Sector
Apr 20,2017

The extension by five years for complying with the Mega Power Policy 2009 norms will reduce contingent liabilities and free up banking limits to 25 mega power projects, thus granting them a fresh lease of life, says India Ratings and Research (Ind-Ra). Ind-Ra believes this will also in turn free up banks potential exposure to the power sector by around 3.50% or INR40 billion, providing them additional headroom to lend to the power sector. This is applicable to 25 mega power projects of around 32,330MW of coal and gas based power plants which have provisional certificates, but are awaiting the final mega power status. The projects would have needed additional debt or the sponsors may have had to inject additional equity to settle the bank guarantee obligations, which would have devolved in the absence of an extension in timeline as per Mega Power Policy. While the extension is likely to provide some comfort in terms of lower finance costs, the lack of long term Power Purchase Agreements (PPA) may prohibit these plants from availing the full benefits under the policy. For many projects it is kicking the can down the road until long term PPAs become a norm again, which Ind-Ra believes is unlikely in the near term.

The Cabinet Committee on Economic Affairs has extended the timeline available for furnishing the final mega certificates (from the date of receiving provisional mega certificates) to 120 months from the earlier 60 months from the date of import to avail all the benefits under the policy. Tax concession under the amended policy will be in the proportion of the long term PPA tied up, instead of requiring 85% or more long-term tie up (65% long term PPA by competitive bidding and 35% under regulated tariff as per specific host state policy for 15 out of 25 projects which have provisional mega status as per the earlier amendment). The proceeds out of the release of bank guarantees (submitted by the generators till the final mega status is received) have to necessarily be utilised towards reduction in project debt by the developer.

Most states have become averse to buying power on a long-term basis, since short-term tariffs are more economical. Ind-Ra expects long-term PPAs to be scarce, given the weak industry demand. Ten major power consuming states (contributing 65% to power demand of all distribution companies) have signed contracts for higher than the current annual demand, Ind-Ra estimates this will lead to a consolidated power surplus of 18%. Extension of the timeline to tie-up long term PPAs in the current challenging market is a breather for all the power plants which have a provisional mega power status but are awaiting the final conformation.

Ind-Ra estimates that the total reduction in potential banking exposure across these 25 power projects due to this amendment will be around INR40 billion. As per Ind-Ras sample set, bank guarantees submitted by these generators contingent on receiving the final mega status are on an average about 5.5% of the total project cost. Also, almost one third of project capacity of these 25 projects is tied up under long term PPAs and will be eligible for release of bank guarantees as per the terms and conditions of this amended Mega Power Policy. This amendment will reduce the contingent liabilities sitting on the balance sheets of these projects against the potential tax liability in the future. Freeing up of banking limits will also help these power plants to competitively bid for PPAs in the future.

Clarity however is still awaited in operationalising the policy, including aspects of reimbursements for taxes paid, treatment of PPAs (signed with home states for selling 35% power) which are not operationalised, among other details.

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Future Lifestyle Fashions allots 1,15,522 equity shares
Apr 20,2017

Future Lifestyle Fashions announced that the Nomination and Remuneration Committee of the Company vide its Circular Resolutions dated 19 April 2017, has approved the following: 1.Allotment of 1,15,522 Equity Shares of Rs.2/- each to eligible employee(s) under the FLFL Employee Stock Option Scheme 2013 (FLFL ESOS - 2013) of the Company. 2.Cancellation of 8,198 Options granted under the Companys Future Lifestyle Fashions Limited Employee Stock Option Plan 2015 (FLFL ESOP - 2015).

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Titaanium Ten Enterprise announces resignation of company secretary
Apr 20,2017

Titaanium Ten Enterprise announced the resignation of Pashmina Pradipkumar Chevli from the post of Company Secretary and Compliance Officer with effect from 20 April 2017.

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Pincon Spirit intimates of increase in production capacity
Apr 20,2017

Pincon Spirit announced that the monthly production capacity of Asansol Unit of the company has been increased from 12 lakh bottles to 40 lakh bottles. An auto line has also been installed which will help to boost the market penetration in South Bengal.

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GSFC advances on pact with Congo for chemical complex
Apr 20,2017

The announcement was made after market hours yesterday, 19 April 2017.

Meanwhile, the S&P BSE Sensex was up 85.83 points or 0.29% at 29,422.40. The S&P BSE Mid-Cap index was up 105.36 points or 0.73% at 14,495.62.

On the BSE, 1.60 lakh shares were traded on the counter so far as against the average daily volumes of 2.75 lakh shares in the past one quarter. The stock had hit a high of Rs 120.50 and a low of Rs 118.40 so far during the day.

The stock had hit a record high of Rs 131.70 on 3 April 2017 and a 52-week low of Rs 67 on 3 August 2016. It had underperformed the market over the past one month till 19 April 2017, sliding 5.7% compared with the Sensexs 1.05% fall. The scrip had also underperformed the market over the past one quarter, declining 3.6% as against the Sensexs 7.43% rise.

The mid-cap company has equity capital of Rs 79.70 crore. Face value per share is Rs 2.

Gujarat State Fertilizers & Chemicals (GSFC) said it has executed an in principle agreement (in the form of Non-binding term sheet) with Govt of Republic of Congo (ROC) on 17 April 2017 to evaluate the possibility of establishing a Ammonia-Urea Complex at ROC to enhance the agriculture growth in ROC. It is expected that this project will act as a catalyst for ROC by reducing dependency on imported food for feeding the public of ROC, GSFC said.

Meanwhile, GSFC is one among the 16 stocks to be included in the futures & options (F&O) segment of the National Stock Exchange of India (NSE) with effect from 28 April 2017, as per the circular issued by the NSE yesterday, 19 April 2017.

GSFCs net profit fell 41% to Rs 61.17 crore on 30.8% decline in net sales to Rs 1102.70 crore in Q3 December 2016 over Q3 December 2015.

Gujarat State Fertilizers & Chemicals (GSFC) is engaged in the development of crop nutrition solutions. The company is also engaged in the business of trading pesticides, zinc sulfate, magnesium sulfate, among others.

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PayU India partners with ALTBalaji
Apr 20,2017

PayU India has partnered with ALTBalaji, the digital platform of Balaji Telefilms for opening additional method of payment for the OTT platforms subscription services.

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Network 18 Media gains after board OKs selling BURRP
Apr 20,2017

The announcement was made after market hours yesterday, 19 April 2017.

Meanwhile, the S&P BSE Sensex was up 72.16 points, or 0.25% to 29,408.73.

On the BSE, 3.35 lakh shares were traded in the counter so far, compared with average daily volumes of 2.29 lakh shares in the past one quarter. The stock had hit a high of Rs 42.90 and a low of Rs 40.45 so far during the day. The stock hit a 52-week high of Rs 49.20 on 29 September 2016. The stock hit a 52-week low of Rs 30.50 on 27 December 2016.

The stock had outperformed the market over the past one month till 19 April 2017, rising 12.08% compared with 0.50% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 11.16% as against Sensexs 7.43% rise.

The mid-cap company has equity capital of Rs 523.47 crore. Face value per share is Rs 5.

The board of directors of Network 18 Media & Investments at its meeting held yesterday, 19 April 2017, evaluated the proposal of restructuring its business of food and restaurant search and recommendation engine operated under the name of BURRP, which has insignIficant contribution to the revenue of the company.

The board has given in-principle approval to sell/transfer/dispose-off or transfer BURRP to any other entity including a related party/getting a strategic investor.

In this regard, the board has authorised certain directors and officers of the company to evaluate the various options and take such further action in the matter, as may be suitable, after complying with necessary regulatory requirements.

On a consolidated basis, Network 18 Media & Investments reported net loss of Rs 33.32 crore in Q4 March 2017 as against net loss of Rs 24.99 crore in Q4 March 2016. Net sales declined 18.08% to Rs 387.67 crore in Q4 March 2017 over Q4 March 2016.

Network18 Media and Investments is a media and entertainment company with interests in television, internet, filmed entertainment, digital business, magazines, mobile content and allied businesses.

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UFO Moviez India enters into strategic tie up with United Media Works
Apr 20,2017

UFO Moviez India has entered into a strategic tie up with United Media Works (UMW), a digital cinema technology and service provider having more than 300 digitized cinema screens on its network in India. Under this tie up, the Company has acquired long term exclusive rights from UMW to monetize the advertising inventory on these screens. In addition, the Company will share movie content to these screens in UFO M-4 format. However, existing commercial and service arrangement between UMW and its Channel Partners / Exhibitors /Distributors shall remain unchanged.

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Sun TV jumps after brokerage upgrade
Apr 20,2017

Meanwhile, the S&P BSE Sensex was up 82.17 points, or 0.28% to 29,418.74.

On the BSE, 2.57 lakh shares were traded in the counter so far, compared with average daily volumes of 2.08 lakh shares in the past one quarter. The stock had hit a high of Rs 895.80 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 860.40 so far during the day. The stock hit a 52-week low of Rs 334 on 24 June 2016.

The stock had outperformed the market over the past one month till 19 April 2017, rising 11.48% compared with 0.50% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 59.30% as against Sensexs 7.43% rise.

The large-cap company has equity capital of Rs 197.04 crore. Face value per share is Rs 5.

Sun TV Networks net profit rose 11% to Rs 240.09 crore on 2.8% growth in net sales to Rs 589.43 crore in Q3 December 2016 over Q3 December 2015.

Sun TV Network is one of the largest television broadcasters in India, operating thirty-two TV channels and forty-five FM Radio stations in several Indian languages.

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