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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 Sanofi India recommends final dividend
Feb 28,2017

Sanofi India announced that the Board of Directors of the Company at its meeting held on 27 February 2017, inter alia, have recommended the final dividend of Rs 50 per equity Share (i.e. 500%) , subject to the approval of the shareholders.

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Sanofi India to hold AGM
Feb 28,2017

Sanofi India announced that the Annual General Meeting (AGM) of the company will be held on 5 May 2017.

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Board of Merck recommends final dividend
Feb 28,2017

Merck announced that the Board of Directors of the Company at its meeting held on 27 February 2017, inter alia, have recommended the final dividend of Rs 11 per equity Share (i.e. 110%) , subject to the approval of the shareholders.

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Siti Networks allots 777,71,428 equity shares
Feb 28,2017

Siti Networks announced that the Allotment Committee at its meeting held on 27 February 2017 has allotted 571,42,857 equity shares on conversion of warrants at an issue price of Rs 35 per share to Arrow Media & Broadband. Further, approved allotment of 206,28,571 equity shares on conversion of Optionally Fully Convertible Debentures at an issue price of Rs 35 per equity share to Digital Satellite Media & Broadband.

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G-Tech Info Training announces change in directorate
Feb 28,2017

G-Tech Info Training has appointed Rahul Sudhakar Ahire and Gautam Kalu Mohite as Additional Director on the Board of Directors of the Company w.e.f. 09 February 2017, to hold office upto the date of the ensuing Annual General Meeting of the Company.

Further, the Company has accepted the resignation of Deepak Suresh Jambodaker, Ganesh Shankar Budbadkar and Rajesh Dinkar Jadhav and his cessation will be effective from 09 February 2017.

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Transformers and Rectifiers gains after bagging order
Feb 28,2017

The announcement was made after market hours yesterday, 27 February 2017.

Meanwhile, the BSE Sensex was up 30.96 points, or 0.11%, to 28,843.84.

On the BSE, 2,524 shares were traded in the counter so far, compared with average daily volume of 12,792 shares in the past one quarter. The stock had hit a high of Rs 405.50 and a low of Rs 398.40 so far during the day. The stock had hit a 52-week high of Rs 471.85 on 20 January 2017. The stock had hit a 52-week low of Rs 196 on 29 February 2016.

Transformers and Rectifiers (India) (TRIL) said that it has bagged an order for supplying 39 transformers and reactors amounting to Rs 153 crore from Gujarat Energy Transmission Corporation (GETCO).

The order falls under the normal course of business. With the latest order, the companys order book now stands at around Rs 1020 crore.

TRIL manufactures a wide range of transformers for the domestic and the international market.

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Crompton Greaves renamed as CG Power and Industrial Solutions
Feb 28,2017

Crompton Greaves announced that the Registrar of Companies, Mumbai has issued a fresh certificate of incorporation dated 27 February 2017 consequent to change in company name to CG Power and Industrial Solutions. The Company has made alteration of Memorandum of Association and Articles of Association consequent to change of Company name.

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Sambhaav Media wins FM Radio Channels for 13 cities in Gujarat and Jammu & Kashmir
Feb 28,2017

Sambhaav Media announced that the Company has won FM Radio Channels for 13 cities of Gujarat and Jammu & Kashmir through e-auctions of second batch of private FM radio phase -III Channels.

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Hindustan Unilever allots 29,117 equity shares
Feb 28,2017

Hindustan Unilever announced that the Committee of the Board in its Meeting held on 27 February 2017, has allotted 29,117 Equity Shares of Re. 1/- each under ESOP, which vide Shareholders Resolution dated 29 May 2006 is known as n++2006 HLL Performance Share Schemen++, further amended vide Shareholders Resolution dated 23rd July, 2012 is known as n++2012 HUL Performance Share Scheme.n++

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SREI Infrastructure Finance allots NCDs aggregating Rs 335.17 cr
Feb 28,2017

SREI Infrastructure Finance has allotted 33,51,778 NCDs, aggregating to Rs. 335.17 crore on 27 February 2017.

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Vedanta wins two awards for best practice in international financial reporting
Feb 28,2017

The Annual Reports of Vedanta and Vedanta Resources Plc won Platinum and Gold, in the Material and Energy - Equipment & Services category respectively, at the LACP Vision Awards 2016. The awards recognise best practice in international financial reporting.

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Adani Transmission buys back 1650 NCDs
Feb 28,2017

Adani Transmission has bought back 1,650 Zero Coupon Rated, Listed, Taxable, Secured, Redeemable, Non-Convertible Debentures of the face value of Rs. 10 Lakhs each (Tranche I; ISIN: INE931S07058) on 27 February 2017.

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Doubling of SIDBI Fund of Funds Operations Focusing MSME and Startups
Feb 28,2017

In its 7th meeting on the February 11, 2017 VCIC examined requests from 11 fund managers and cleared for sanction requests from 9 Funds aggregating Rs. 300 crores. It is evident that there is a significant upsurge in the fund of funds operations if seen from the number of funds supported by SIDBI during the current FY. During FY 15 and 16 sanctions were made to 11 funds (Rs. 314 crores) and 16 funds (Rs. 607 crores) respectively while the number during the current FY has already crossed Rs. 1112 crores to 30 funds.

It may be recalled that the government had announced establishment of Rs. 10,000 crore fund of funds to support AIFs who invest in Startups. This money will be released spread over two finance commission cycles (14th and 15th viz. till 2025) based on progress under the Scheme. An amount of Rs. 500 crore has been released so far to SIDBI which is managing the programme. It may added that SIDBI is also operating various other fund of fund programmes invsting in MSMEs and Startups viz. India Aspiration Fund [IAF] launched formally by Honble Finance Minister in August 2015, ASPIRE Fund focused on agri and rural enterprises launched by Honble Minister for MSME last year and Rs. 200 crore on behalf of LIC. SIDBI as manager of these Funds has constituted with the consent of the Government, a Venture Capital Investment Committee [VCIC] which includes external experts viz. Mohandas Pai, Sanjeev Bikchandani, Saurabh Srivastava, H.K.Mittal, Prof. Vaidyanathan, Kiran Karnik.

Out of the those cleared earlier by VCIC, SIDBI has so far accorded formal sanction, for an aggregate contribution of Rs. 1619.25 crores after undertaking detailed appraisal and due diligence (including Rs. 1580 crore under IAF/FFS and Rs. 39.50 crores under ASPIRE). Operations under IAF and FFS are complimentary as both target startups and the exact coverage depends on the status of compliance to the guidelines under these funds at the time of signing of the contribution agreements. FFS initially focussed on motivating AIFs to float schemes which will invest in startups alone. With difficulties expressed by the industry in this regard, the government is re-examining the issue. With the modification proposed, coverage under FFS is expected to stand at around Rs. 600 crore in respect of 15 AIFs by March 31, 2016.

These programmes are serving the objectives with which these funds were formed. For example under IAF based on the drawals of Rs. 177 crores made, the investments by the supported funds are reported to be in 124 MSMEs/Startups for an aggregate support of Rs. 452 crores. Thanks to the rise in AIFs supported under the above programmes, there is significant investment happening in startups as well, with current year expected to close with around 150 startups receiving Rs. 588 crore. This is expected to grow fast in the next year as investments by AIFs supported pickup. The investment in startups by the 15 funds as aforesaid is likely to investment approximately Rs. 187 crores in startups by March end.

The story of IAF and FFS is in line with the industry trend. AIFs have a long investment / divestment cycle of 7-10 years with investments beginning a good 6-9 months (or longer) after an AIF gets its approval from SIDBI and scales gradually thereafter. It is expected that the investment in startups by the Funds supported under FFS may cross Rs. 1200 crores over next twelve months as they raise the balance contribution from other investors and pick up the pace of investing.

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Lanco Infratech announces resignation of director
Feb 28,2017

Lanco Infratech announced that Rengaraj Viswanathan resigned as Director of the Company with effect from 27 February 2017. Consequently, Rengaraj Viswanathan ceased to be Director of the Company.

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Central Bank of India provides update on proposed bond issue of Rs 500 cr
Feb 28,2017

Central Bank of India announced that the Bank has fixed a coupon of 8.62% on annual basis on the proposed issuance and allotment of Non Convertible Unsecured Basel III compliant Tier-2 Bonds (Series II) aggregating Rs 500 crore with maturity of 122 months.

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