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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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Mahindra CIE Automotive standalone net profit rises 88.30% in the December 2016 quarter
Feb 24,2017

Net profit of Mahindra CIE Automotive rose 88.30% to Rs 10.94 crore in the quarter ended December 2016 as against Rs 5.81 crore during the previous quarter ended December 2015. Sales rose 1.87% to Rs 447.34 crore in the quarter ended December 2016 as against Rs 439.14 crore during the previous quarter ended December 2015.

For the full year,net profit rose 64.27% to Rs 51.45 crore in the year ended December 2016 as against Rs 31.32 crore during the previous year ended December 2015. Sales rose 34.26% to Rs 1786.89 crore in the year ended December 2016 as against Rs 1330.90 crore during the previous year ended December 2015.

ParticularsQuarter EndedYear Endedn++Dec. 2016Dec. 2015% Var.Dec. 2016Dec. 2015% Var. Sales447.34439.14 2 1786.891330.90 34 OPM %7.076.59 -8.087.60 - PBDT34.7230.28 15 158.93103.78 53 PBT16.9310.88 56 87.9049.95 76 NP10.945.81 88 51.4531.32 64

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EMCO reports standalone net loss of Rs 11.13 crore in the December 2016 quarter
Feb 24,2017

Net Loss of EMCO reported to Rs 11.13 crore in the quarter ended December 2016 as against net loss of Rs 11.97 crore during the previous quarter ended December 2015. Sales rose 2.02% to Rs 210.49 crore in the quarter ended December 2016 as against Rs 206.32 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales210.49206.32 2 OPM %4.693.66 - PBDT-11.67-12.18 4 PBT-15.96-17.09 7 NP-11.13-11.97 7

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Vidarbha Iron & Steel Corporation reports standalone net loss of Rs 0.04 crore in the December 2016 quarter
Feb 24,2017

Net Loss of Vidarbha Iron & Steel Corporation reported to Rs 0.04 crore in the quarter ended December 2016 as against net loss of Rs 0.02 crore during the previous quarter ended December 2015. There were no Sales reported in the quarter ended December 2016 and during the previous quarter ended December 2015.

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Rain Industries reports standalone net loss of Rs 2.13 crore in the December 2016 quarter
Feb 24,2017

Net Loss of Rain Industries reported to Rs 2.13 crore in the quarter ended December 2016 as against net loss of Rs 2.51 crore during the previous quarter ended December 2015. Sales declined 68.51% to Rs 7.28 crore in the quarter ended December 2016 as against Rs 23.12 crore during the previous quarter ended December 2015.

For the full year,net profit rose 20.12% to Rs 31.34 crore in the year ended December 2016 as against Rs 26.09 crore during the previous year ended December 2015. Sales declined 47.98% to Rs 44.85 crore in the year ended December 2016 as against Rs 86.21 crore during the previous year ended December 2015.

ParticularsQuarter EndedYear Endedn++Dec. 2016Dec. 2015% Var.Dec. 2016Dec. 2015% Var. Sales7.2823.12 -69 44.8586.21 -48 OPM %-12.09-7.22 --7.42-5.09 - PBDT-1.67-2.00 17 34.9828.16 24 PBT-2.01-2.40 16 33.4526.59 26 NP-2.13-2.51 15 31.3426.09 20

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Board of Savita Oil Technologies recommends dividend
Feb 24,2017

Savita Oil Technologies announced that the Board of Directors of the Company at its meeting held on 23 February 2017, inter alia, have recommended the dividend of Rs 13.5 per equity Share (i.e. 135%) , subject to the approval of the shareholders.

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EMA India announces demise of Managing Director
Feb 24,2017

EMA India announced the sad demise of Companys Managing Director Mradip Kumar Bhargava on 21 February 2017 who led the company for the last more than 30 years.

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Yes Bank allots equity shares
Feb 24,2017

Yes Bank has allotted 2,86,470 (Two Lakhs Eighty Six Thousand Four Hundred and Seventy) equity shares of face value of Rs. 10/- each on 24 February 2017 under the JESOP IV, JESOP V, PESOP I, PESOP II and PESOP II - 2010.

The paid up share capital of the Bank has accordingly been increased from Rs. 423,35,70,430/- consisting of 42,33,57,043 equity shares of Rs. 10/- each to Rs. 423,64,35,130/- consisting of 42,36,43,513 equity shares of Rs. 10/- each.

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Board of Arfin India allots 50000 equity shares on conversion of warrants
Feb 24,2017

Arfin India announced that the Board of Directors of the Company at its meeting held on 24 February 2017 has allotted 50,000 equity shared of Rs 10 each at a premium of Rs 165 per share on conversion of 50,000 warrants.

Consequent to conversion of warrants into equity shares, the paid up capital of the Company stands increased to Rs 4,05,11,570 dividend into 40,51,157 equity shares of face value of Rs 10 each.

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Tayo Rolls to allot 1lakh preference shares to Promoter - Tata Steel
Feb 24,2017

Tayo Rolls announced that the Committee of the Board at their meeting held on 24 February 2017 have decided to allot 1,00,000 (one lakh only) 7.17% Non-cumulative Redeemable Preference Shares of Rs. 100/- (Rupees one hundred only) each aggregating to Rs. 1,00,00,000/- (Rupees one crore only) to Tata Steel, the Promoter on Preferential basis.

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Pil Italica Lifestyle to hold board meeting
Feb 24,2017

Pil Italica Lifestyle will hold a meeting of the Board of Directors of the Company on 11 March 2017, To consider allotment of Equity Shares on conversion of warrants to Promoter and Non Promoters.

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India Lease Development to hold board meeting
Feb 24,2017

India Lease Development will hold a meeting of the Board of Directors of the Company on 9 March 2017, to consider appointment of Secretarial Auditors for the Financial Year 2016-2017, Review the performance of the Independent Directors.

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Zydus Cadila to launch Indias first Tetravalent Inactivated Influenza vaccine - VaxiFlue-4
Feb 24,2017

Zydus Cadila has received approval from the Drug Controller General of India, Central Drugs Standard Control Organisation and the Central Drug Laboratory to market the Tetravalent Inactivated Influenza vaccine for seasonal flu, VaxiFlu -4. With this, Zydus Cadila will become the first Indian pharma company and second in the world to launch a Tetravalent Inactivated Influenza vaccine.

The vaccine provides protection from four influenza viruses - H1N1, H3N2, Type 3 (Brisbane) and Type B (Phuket).

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Cadila Healthcare to hold EGM
Feb 24,2017

Cadila Healthcare announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 30 March 2017.

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Grandeur Products to hold board meeting
Feb 24,2017

Grandeur Products will hold a meeting of the Board of Directors of the Company on 1 March 2017, EGM & to consider Issue of Shares under Employee Stock Purchase Scheme to the eligible employees through trust as per SEBI (Share Based Employee Benefits) Regulations, 2014

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For India, Strong Growth Persists Despite New Challenges
Feb 24,2017

Indias overall outlook remains positive, although growth will slow temporarily as a result of disruptions to consumption and business activity from the recent withdrawal of high-denomination banknotes from circulation.

But the nations expansion will pick up again as economic reforms kick in, said the IMF in its latest assessment. Growth is expected at 6.6 percent in this fiscal year and at 7.2 percent in the following year.

IMF mission chief for India Paul Cashin said, The Indian economy is growing strongly and remains a bright spot in the global landscape. The halving of global oil prices that began in late 2014 boosted economic activity in India, further improved the external current account and fiscal positions, and helped lower inflation. In addition, continued fiscal consolidation, by reducing government deficits and debt accumulation, and an anti-inflationary monetary policy stance have helped cement macroeconomic stability.

The government has made significant progress on important economic reforms, which will support strong and sustainable growth going forward. In particular, the upcoming implementation of the goods and services tax, which has been in the making for over a decade, will help raise Indias medium-term growth to above 8 percent, as it will enhance the efficiency of production and movement of goods and services across Indian states.

Challenges remain, however, and there is little scope for complacency. A key concern for us is the health of the banking system, which is still dealing with a large amount of bad loans, and also heightened corporate vulnerabilities in several key sectors of the economy.

And, over the past few months, the economy has been hit by cash shortages, and accordingly we reduced our growth forecasts to 6.6 percent for fiscal year 2016/17 and to 7.2 percent in 2017/18.

Paul further said,The initiative affected notes with a total value of about 15 trillion rupees, which amounted to 86 percent of all cash in circulation. Because payment transactions in India are primarily cash-based and electronic payments infrastructure is limited, the shortage of cash has disrupted economic activity, with smaller businesses and rural regions being particularly badly affected.

Fortunately, these effects are expected to gradually dissipate by March 2017 as cash shortages ease. It also appears that measures taken to alleviate payment disruptions, such as temporarily allowing use of old banknotes for purchases of fuel and agricultural inputs, have helped mitigate the negative impact. So we expect the slowdown to be limited and relatively short-lived and the financial system to come through unscathed. Of course, potential loan repayment risks should be monitored carefully, particularly given an already elevated level of non-performing loans.

The demonetization initiative presents an opportunity to increase the size of the formal economy and broaden financial intermediation in the longer term. It can also support a widening of the tax base, help reduce the fiscal deficit, enhance bank liquidity, and give a fillip to the governments efforts to promote greater financial inclusion.

Sound economic policymaking underpinned by strong institutions is critical for sustainable growth. A recent example of a positive change in India is the implementation of flexible inflation targeting and creation of the Monetary Policy Committee, which have strengthened the credibility of monetary policy and helped maintain price stability in an increasingly complex economy.

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