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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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Hong Kong Stocks rebound
Dec 21,2016

The Hong Kong stock market staged a slight recovery on Wednesday, 21 December 2016, after falling in the four previous days as traders tracked another record close on Wall Street overnight fuelled by hopes of stronger economic growth during Donald Trumps presidency. The market also got a modicum of support from the mainland, where fears of a liquidity squeeze in Chinas banking system subsided after risks from a high-profile bond scandal appeared contained. Hong Kongs benchmark Hang Seng Index closed 0.37% higher at 21,809.8, ending a four-day drop as the financial and energy sectors rose. The Hang Seng China Enterprises Index, known as the H-shares index, gained 0.52% to 9,331.63. Daily turnover dropped to HK$47.6 billion from HK$53.8 billion a day earlier ahead of holidays.

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China Stocks rebound on easing liquidity concerns
Dec 21,2016

Mainland China stock market closed higher on Wednesday, 21 December 2016, as investors chased for bottom fishing after benchmark hits a six-week low previous day. Meanwhile, buying pressured underpinned as fears of a liquidity squeeze in the banking system subsided after risks from a bond scandal appeared contained, and on a pledge to deepen reforms in state-owned sectors. Most sectors gained, led by infrastructure and transport plays, while properties and banks steadied. The Shanghai Composite Index rose 1.11% to 3,137.43, while the Shenzhen Composite Index, which tracks stocks on Chinas second exchange, added 0.74% to 1,996.03. The ChiNext Index, which tracks Chinas NASDAQ-style board of growth enterprises, added 0.47% to close at 1,991.70 points.

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Australia Market hits over 16-month high
Dec 21,2016

Australian share market finished session at highest in over 16 months, albeit in thin trade, pushed up by a mix of materials and financial stocks as investor sentiment was boosted by Wall Streets record run overnight. The S&P/ASX 200 index rose 0.4%, or 22.43 points, to 5,613.5, its highest closing level since Aug. 5, 2015.

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Rupee bounces back
Dec 21,2016

Rupee closed higher at 67.9178/9330 per dollar on Tuesday (21 December 2016), versus its previous close of 68.0279/0430 per dollar.

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Maruti Suzuki Indias Vitara Brezza wins ICOTY award
Dec 21,2016

Maruti Suzuki India announced that Vitara Brezza was adjudged Indian Car of the Year 2017 by a jury of leading automobile experts drawn from across publications.

Vitara Brezza has sold nearly 83000 units since its launch in March 2016.

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Cabinet approves doubling of Rajpura-Bhatinda railway line
Dec 21,2016

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister has given its approval for doubling of Rajpura-Bhatinda railway line at an estimated cost of Rs 1251.25 crore and expected completion cost of Rs 1465.59 crore.

The 172.64 km long railway line is expected to be completed in five years.

The present utilization of this section is nearly 100%. Enhancement of capacity of power plants and planned freight terminals will generate additional freight traffic on this route. The doubling will ease the traffic bottlenecks and will bring more revenue to Indian Railways by capacity enhancement of the route. The districts of Patiala, Sangrur, Barnala and Bathinda would also be benefitted through this project.

The Rajpura-Bathinda section falls in Ambala Division of Northern Railway. At present traffic utilization of the section is nearing saturation. This line is strategically important as several military specials are routed on this line connecting the Western border. The main objective for doubling between Rajpura-Bathinda is to remove capacity constraint and to cater for future growth of traffic on the important route of Indian Railways.

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D B Corp allots equity shares
Dec 21,2016

D B Corp announced that on 20 December 2016, the Compensation Committee of the Board of Directors of the Company has allotted 9,219 shares of Rs. 10/- each on exercise of 9,219 stock options under DBCL-ESOS- 2008, DBCL-ESOS- 2010 and DBCL-ESOS- 2011 - Tranche 3 Schemes, to its employees covered under the scheme.

The new equity shares rank pari passu in all respect with the existing capital.

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D S Kulkarni Developers announces resignation of directors
Dec 21,2016

D S Kulkarni Developers announced that following Independent Directors have resigned w.e.f. 21 December 2016:

1. Vasant Chintaman Joshi and
2. Ramakant D. Kharosekar.

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Cabinet approves creation of Indian Enterprise Development Service (IEDS)
Dec 21,2016

The Union Cabinet chaired by the Prime Minister has given its approval to the Cadre review and formation of a new service in the name of n++ndian Enterprise Development Service (IEDS) in the Office of Development Commissioner (MSME), Ministry of Micro, Small and Medium Enterprises(MSME). The creation of the new cadre and change in structure will not only strengthen the organization but will also help to achieve the vision of Startup India, Stand-up India and Make in India.

The measure will enhance the capacity and efficiency of the organization and also help in achieving growth in MSME sector through a focussed and dedicated cadre of technical officers.

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Board of Rathi Graphic Technologies approves resignation of director and change in CFO
Dec 21,2016

Rathi Graphic Technologies announced that the following mentioned members of the Board and KMP has resigned or appointed from/to the office in the duly held Board Meeting on 17 December 2016:

1. Anita Chopra - Resigned from the post of Non-executive Independent Director of the Company w.e.f. 24 November 2016.

2. Mukesh Kumar Sharma - Resigned from the post of Chief Financial Officer of the Company w.e.f. 22 November 2016.

3. Shiv Kumar - Appointed as Chief Financial Officer of the Company w.e.f. 14 December 2016.

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GE T&D India announces change in directorate
Dec 21,2016

GE T&D India announced that -

1. The Board of Directors of the Company has accepted resignation of Ravi Kumar Krishnamurthy as Whole-time Director and as director of the Company effective from 21 December 2016, as he wishes to pursue his career outside the Company.

2. Nagesh Tilwani has been appointed by the Board as additional Director and as Whole-time Director with effect from 21 December 2016 subject to approval of shareholders.

The term of appointment of Nagesh Tilwani as Whole-time Director is two years.

Nagesh Tilwani is not related with any director of the Company.

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DCB Bank allots equity shares
Dec 21,2016

DCB Bank has allotted 7,675 equity shares of Rs.10/- each on 21 December 2016, pursuant to the terms of the Employee Stock Option Plan (ESOP) of the Bank. Post this allotment, Banks issued and paid up share capital has increased to 285,044,103 shares of Rs.10/- each.

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Cabinet approves sale of part of surplus and vacant land of Hindustan Anti-biotics
Dec 21,2016

The Union Cabinet chaired by the Prime Minister has approved the sale of part of surplus and vacant land at Pimpri in Pune, Maharashtra for meeting the liabilities of Hindustan Anti-biotics (HAL).

The proposal entails:

(i) Sale of surplus and vacant land of about 87.70 acres of HAL (actual area of land to be sold would depend upon the rates received in bids, as per guidelines of BIFR) to meet the net liabilities of Rs 821.17 crore after waiver and deferment, through an open competitive bid from Central /State Government Departments, Govt. Agencies, Central/State PSUs, Autonomous Bodies, Urban Development Authorities etc.

(ii) Waivers of Govt. of India loans and interest amounting to Rs 307.23 crore (principal amount of Rs 186.96 crore and interest approximately Rs 120.27 crore thereon calculated as on 30.9.2017) and deferment of various dues amounting to Rs 128.68 crore.

(iii) Sanction of an immediate loan of Rs 100 crore to meet the wages, salaries and other critical expenses of immediate nature. The loan will be repaid to the Government from sale proceeds of the HAL land.

The approval will help the Government in optimum utilization of the Companys assets and to take further decisions in respect of the Company for:

(i) Rehabilitation; (ii) Strategic Sale; or (iii) Closure

On implementation of the scheme/proposal, HAL will be lean with no liabilities and clean balance-sheet, so that the implementation of recommendations of the Ministers Committee is facilitated.

Sale of HAL land at Pimpri in Pune, Maharashtra will facilitate mitigation of sufferings and critical condition of the employees and if the liabilities are met and the balance sheet is cleaned, the implementation of recommendations of the Ministers Committee will be facilitated.

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Board of Fischer Chemic decides to reduce equity share capital
Dec 21,2016

Fischer Chemic announced that the Board of Directors of the Company at its meeting held on 21 December 2016 has decided to reduce the equity share capital of the Company from Rs 3.44 crore divided into 34,40,000 equity shares of Rs 10 each to Rs 17.20 lakh dividend into 1,72,000 equity shares of Rs 10 each and that such reduction be affected by cancelling of 32,68,000 equity shares of Rs 10 each amounting to Rs 3.26 crore in the existing paid up equity share capital against debit balance in profit and loss account.

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Mercator gains for second day in a row after new order win
Dec 21,2016

Meanwhile, the S&P BSE Sensex was down 79.53 points or 0.3% at 26,228.45

On the BSE, 1.72 lakh shares were traded on the counter so far as against average daily volumes of 4.64 lakh shares in the past one quarter. The stock hit a high of Rs 40.80 and a low of Rs 39.10 so far during the day.

The stock had hit a 52-week high of Rs 54.55 on 6 September 2016. The stock had hit a 52-week low of Rs 15.90 on 12 February 2016. The stock had outperformed the market over the past 30 days till 20 December 2016, rising 15.11% compared with the 2.11% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, sliding 16.84% as against Sensexs 7.72% decline.

The small-cap company has equity capital of Rs 24.49 crore. Face value per share is Re 1.

Shares of Mercator had gained 5.12% to settle at Rs 40 yesterday, 20 December 2016 boosted by the companys announcement that one of its vessels has secured a time charter contract of total value of about Rs 120 crore. The period of contract is four years (inclusive of charterers options) and the charter will commence from January 2017. The announcement was made during market hours yesterday, 20 December 2016.

Mercator reported net loss of Rs 27.05 crore in Q2 September 2016 compared with net profit of Rs 14.59 crore in Q2 September 2015. Net sales declined 19.58% to Rs 133.28 crore in Q2 September 2016 over Q2 September 2015.

Mercator group has business interests in coal, oil & gas, shipping and dredging.

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