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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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Silicon Valley Infotech to hold AGM
Sep 01,2016

Silicon Valley Infotech announced that the 33th Annual General Meeting(AGM) of the company on 30 September 2016.

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Lanco Infratech to hold board meeting
Sep 01,2016

Lanco Infratech will hold a meeting of the Board of Directors of the Company on 9 September 2016 to consider and approve, the Un-audited Financial Results for the Quarter ended June 30, 2016.

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Sadbhav Infrastructure Projects reports consolidated net loss of Rs 89.46 crore in the June 2016 quarter
Sep 01,2016

Net Loss of Sadbhav Infrastructure Projects reported to Rs 89.46 crore in the quarter ended June 2016 as against net loss of Rs 88.34 crore during the previous quarter ended June 2015. Sales declined 33.27% to Rs 361.70 crore in the quarter ended June 2016 as against Rs 542.01 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales361.70542.01 -33 OPM %59.9822.85 - PBDT-39.11-67.36 42 PBT-89.97-91.82 2 NP-89.46-88.34 -1

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Sadbhav Infrastructure Projects reports standalone net profit of Rs 10.41 crore in the June 2016 quarter
Sep 01,2016

Net profit of Sadbhav Infrastructure Projects reported to Rs 10.41 crore in the quarter ended June 2016 as against net loss of Rs 24.10 crore during the previous quarter ended June 2015. Sales rose 1130.89% to Rs 97.24 crore in the quarter ended June 2016 as against Rs 7.90 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales97.247.90 1131 OPM %39.53-7.85 - PBDT13.33-24.07 LP PBT13.25-24.10 LP NP10.41-24.10 LP

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Sadbhav Engineering standalone net profit rises 19.99% in the June 2016 quarter
Sep 01,2016

Net profit of Sadbhav Engineering rose 19.99% to Rs 48.68 crore in the quarter ended June 2016 as against Rs 40.57 crore during the previous quarter ended June 2015. Sales declined 2.69% to Rs 806.97 crore in the quarter ended June 2016 as against Rs 829.29 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales806.97829.29 -3 OPM %10.7610.78 - PBDT74.3672.38 3 PBT48.9252.05 -6 NP48.6840.57 20

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Ansal Properties & Infrastructure reports consolidated net profit of Rs 1.56 crore in the June 2016 quarter
Sep 01,2016

Net profit of Ansal Properties & Infrastructure reported to Rs 1.56 crore in the quarter ended June 2016 as against net loss of Rs 11.67 crore during the previous quarter ended June 2015. Sales rose 3.03% to Rs 193.29 crore in the quarter ended June 2016 as against Rs 187.61 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales193.29187.61 3 OPM %14.7512.73 - PBDT9.056.83 33 PBT5.113.04 68 NP1.56-11.67 LP

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Ansal Properties & Infrastructure reports standalone net profit of Rs 4.03 crore in the June 2016 quarter
Sep 01,2016

Net profit of Ansal Properties & Infrastructure reported to Rs 4.03 crore in the quarter ended June 2016 as against net loss of Rs 11.31 crore during the previous quarter ended June 2015. Sales declined 1.57% to Rs 162.02 crore in the quarter ended June 2016 as against Rs 164.61 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales162.02164.61 -2 OPM %8.6010.42 - PBDT7.299.70 -25 PBT6.378.41 -24 NP4.03-11.31 LP

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Ashok Leyland drops after declaring poor sales in August
Sep 01,2016

The company announced the monthly sales volume data during market hours today, 1 September 2016.

Meanwhile, the S&P BSE Sensex was up 59.16 points or 0.21% at 28,511.33

On BSE, so far 11.27 lakh shares were traded in the counter as against average daily volume of 16.22 lakh shares in the past one quarter. The stock hit a high of Rs 87.75 and a low of Rs 84.55 so far during the day. The stock had hit a record high of Rs 112.80 on 13 April 2016. The stock had hit a 52-week low of Rs 78.05 on 11 August 2016. The stock had underperformed the market over the past 30 days till 31 August 2016, falling 0.51% compared with Sensexs 1.68% rise. The scrip had also underperformed the market in past one quarter, sliding 16.91% as against Sensexs 5.99% rise.

The large-cap company has equity capital of Rs 284.59 crore. Face value per share is Re 1.

Ashok Leyland reported 8% fall in sales of medium and heavy commercial vehicles (M&HCV) to 8,201 units in August 2016 over August 2015. Sales of light commercial vehicles (LCV) rose 2% to 2,696 units in August 2016 over August 2015.

Ashok Leylands net profit rose 101.23% to Rs 290.78 crore on 11.35% growth in total income to Rs 4352.79 crore in Q1 June 2016 over Q1 June 2015.

Ashok Leyland is one of the leading manufacturers of medium and heavy commercial vehicles in India.

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Telecom stocks witness selling pressure
Sep 01,2016

Idea Cellular (down 8.18%), Bharti Airtel (down 6.83%), Reliance Communications (down 4.08%) and Tata Teleservices (Maharashtra) (down 2.51%), edged lower.

Index heavyweight Reliance Industries (RIL) was down 0.76% at Rs 1,050.10.

The S&P BSE Sensex was up 31.14 points, or 0.11% at 28,483.31.

According to reports, Reliance Industries Chairman Mukesh Ambani announced the launch of Jio Welcome Offer from 5 September 2016. Under the new plan, Reliance Jio Infocomm (RJIL) customers can avail data, voice, video and Jios bouquet of apps for free till 31 December 2016. Reliance Jio will not charge for voice calls or for roaming calls within India. Jio will charge Rs 50 for one gigabyte of 4G data, reports added. Jios data prices are roughly one-fifth of what customers have been charged by other operators so far.

Reliance Jios aggressive pricing could force other telecom firms to cut voice and data tariffs. The price war may strain finances of most telecom operators, who are already laden with high debt.

Ambani made the announcement of free voice calls and cheaper 4G data plans during Reliance Industries (RIL) annual general meeting in Mumbai today, 1 September 2016. RJIL is a unit of RIL. In 2015, RJIL successfully acquired the right to use 4G spectrum in 13 key circles across India.

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Government notifies National Apprenticeship Promotion Scheme
Sep 01,2016

Government has notified National Apprenticeship Promotion Scheme. It is for the first time a scheme has been notified to offer financial incentives to employers. The Scheme has an outlay of Rs. 10,000 crore with a target of 50 Lakh apprentices to be trained by 2019-20.Apprenticeship Training is considered to be one of the most efficient ways to develop skilled manpower for the country. It provides for an industry led, practice oriented, effective and efficient mode of formal training. The National Policy of Skill Development and Entrepreneurship, 2015 launched by Prime Minister Shri Narendra Modi focuses on apprenticeship as one of the key components for creating skilled manpower in India. The policy proposes to work pro-actively with the industry including MSME to facilitate tenfold increase opportunities in the country by 2020.

25% of the prescribed stipend payable to an apprentice would be reimbursed to the employers directly by the Government of India. The scheme also supports basic training, which is an essential component of apprenticeship training by sharing of basic training cost with basic training providers in respect of apprentices who come directly to apprenticeship without any formal trade training (fresher apprentices).

Online portal for ease of administering. All transactions including registration by employers, apprentices, registration of contract and payment to employers will be made as online mode. Eligible employers shall engage apprentices in a band of 2.5% to 10% of the total strength of the establishment. Employers need to register on the apprenticeship portal and must have TIN/TAN and any one of EPFO/ESIC/LIN. Employers are invited to register on the apprenticeship portal to avail benefits under the scheme.

Brand Ambassadors will be appointed for states and for local industrial clusters to act as facilitators and promoters to promote apprenticeship training.

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Telcos to Exercise Selective Bidding; Spectrum Acquisition Strategy to Revolve Around 4G
Sep 01,2016

The upcoming telecom spectrum auctions slated for October 2016 will accelerate the ongoing industry consolidation, whereby the top telecom companies (telcos) will strengthen their spectrum holding positions, further marginalising smaller telcos, which are unlikely to meaningfully participate and invest further, says India Ratings and Research (Ind-Ra). Ind-Ra expects Vodafone India (Vodafone) and Idea Cellular (Idea) to be active bidders in the upcoming spectrum auctions for their 4G network rollout and Bharti Airtel (Bharti) -the most diversified spectrum holder - will look to bridge the gaps in its spectrum.

The proposed auction addresses supply side issues adequately, since the spectrum which has been put under auction represents 87% of the existing spectrum. The bidding is anticipated to be more balanced than the previous auctions in 2015 and 2014, where spectrum acquisition was driven by license expiry and hence continuity of operations. Participation will be also affected by the steep pricing of 700MHz band which constitutes 72% of the aggregate spectrum value at the base price.

Ind-Ra opines that the top telcos already have moderate-to-high leverage levels, which will weigh on their participation. Idea reported a higher net debt/EBITDA ratio in FY16 at 3.25x (FY15: 1.31x), which is its peak financial leverage of the last five years. Bhartis financial leverage was 2.4x at FYE16, which is expected to go up in FY17 with the increase in capex and margin moderation due to the intensifying competition in the data segment. Reliance Communications Ltd (RCom) on the other hand is highly leveraged (net debt/EBITDA: 5.6x in FY16). Ind-Ra also expects key players to invest in profitable and bigger circles and rationalise spectrum in others and divest non-core assets to free up capital for investment into 4G Long Term Evolution (LTE) infrastructure.

Bharti has the largest spectrum holding at present, of the total 770MHz, across bands (900MHz, 1,800MHz, 2,100MHz and 2,300MHz); followed by Reliance Jio Infocomm (RJio), which holds 596MHz spectrum across 800MHz, 1,800MHz, and 2,300MHz bands. This puts Vodafone (302MHz) and Idea (271MHz) at a disadvantage since they do not possess airwaves in the 2,300MHz category. Each of the top telcos are likely to bid in their respective top five circles by revenue, to plug in the data spectrum gaps in an effort to strengthen established operations.

Ind-Ra expects limited participation compared to the quantity put on sale, as one-third of the spectrum supply is of the high-priced 700MHz band, which is 3x-4x more expensive than 900MHz/1,800MHz bands and also involves a new ecosystem. Telcos interest however would be higher in circles where the pricing of 700MHz is lower than that of 800MHz/900MHz bands (Bihar, Madhya Pradesh, Uttar Pradesh -East and Uttar Pradesh -West), or where spectrum in 800Mhz and 900Mhz bands is not put to auction (Assam, Jammu and Kashmir, and North East). The 1,800MHz band could generate higher interest as it is an alternative band for 4G and priced cheaper than 700MHz. The 2,500MHz is also a new ecosystem and participation is expected to be muted.

The indicative schedule for payment under the deferred payment option for 1,800MHz, 2,100MHz, 2,300MHz and 2,500MHz bands includes the upfront payment of 50% of the bid amount and the balance after a moratorium period of two years in 10 equal annual installments, at an interest rate of 9.3%p.a., reduced from the earlier 10% in the spectrum auction of 2015. Telcos that win spectrum in 700MHz, 800MHz and 900MHz bands will need to pay 25% upfront and the balance after a moratorium of two years in ten equal annual installments, with interest.

The Indian telecom sector is at an inflection point of massive data adoption, repeating the precedence of the voice market growth trajectory (2007-2011) and therefore necessitating continued investment in the key resource - spectrum -during the coverage expansion phase. The spectrum acquisition will be subject to market evolution and 4G network rollout is expected to be undertaken pocket-wise, covering high data consumption residential and commercial locations instead of a circle wise rollout.

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Aviation stocks in demand
Sep 01,2016

Jet Airways India (up 0.98%), SpiceJet (up 0.68%) and InterGlobe Aviation (up 0.36%), edged higher.

The S&P BSE Sensex was down 3.65 points, or 0.01% at 28,448.52.

Aviation turbine fuel (ATF) price was decreased by 3.8% to Rs 45,411.18 per kilo litre in Delhi, with corresponding price revision in other States. The price change was applicable from midnight of 31 August 2016. ATF rates vary at different airports because of differential local sales tax or value-added tax (VAT).

This is second consecutive ATF price cut. Earlier on 1 August 2016, ATF prices were reduced by 4.22% in Delhi.

Prices of ATF constitutes approximately 50% of operating expenses of Indian airlines. State-run oil marketing companies -- Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation -- revise jet fuel prices on the last day of the month based on the average imported oil price in that month.

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Dilip Buildcon gains after winning bid for a national highway project
Sep 01,2016

The announcement was made during market hours today, 1 September 2016.

Meanwhile, the S&P BSE Sensex was up 6.98 points, or 0.02%, to 28,459.15

On BSE, so far 79,000 shares were traded in the counter, compared with average daily volume of 1.47 lakh shares in the past two weeks. The stock hit a high of Rs 244.80 and low of Rs 236.85 so far during the day. The stock hit record high of Rs 258.80 on 12 August 2016. The stock hit a record low of Rs 215.40 on 29 August 2016.

The mid-cap company has equity capital of Rs 136.77 crore. Face value per share is Rs 10.

Dilip Buildcon (DBL) announced that National Highways Authority of India (NHAI) has declared the company as the lowest bidder for four laning of NH-6 from Chichra to Kharagpur in West Bengal under engineering, procurement and construction (EPC) mode at a project cost of Rs 613.08 crore having length of 55.52 kilometres and completion period of 30 months. This road project is adjoining to the existing project of the company, DBL said.

DBLs consolidated net profit rose 124% to Rs 196.60 crore on 56% growth in net sales to Rs 4315.40 crore in the year ended 31 March 2016 (FY 2016) over the year ended 31 March 2015 (FY 2015).

DBL is one of the leading road-focused engineering, procurement and construction (EPC) contractors in India.

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Digitising govt. processes imperative to minimise corruption & ease state machinery operations: ASSOCHAM plea to UP govt.
Sep 01,2016

Improving ease of doing biz to positively impact employment generation even beyond UPs borders

Apex industry body ASSOCHAM has suggested the Uttar Pradesh (UP) government to improve the level and extent of digitisation of processes to ensure smooth operations in shorter timeframes which will minimise contact with government agencies and reduce scope for corruption.

n++The UP government should conduct a detailed study using primary research methodologies to quantify total results of government initiatives in improving ease of doing business in the state,n++ suggested an ASSOCHAM-Thought Arbitrage Research Institute (TARI) study titled Ease of doing business in Uttar Pradesh.

n++The administration should constantly monitor systems and processes of state machinery, revamp or discard outdated processes and set up new ones in keeping with modern business ethos,n++ recommended the study that was jointly released by ASSOCHAM secretary general, Mr D.S. Rawat and Ms Kshama Kaushik, director, TARI at a press conference in Lucknow today.

n++UP being Indias most populous state, improving ease of doing business in the state will have a positive impact on employment even beyond its borders,n++ said Mr Rawat.

n++Regulatory reforms and initiatives taken by UP government like setting up a single window system of Nivesh Mitra, online industrial grievance redressal mechanism, issuance of VAT registration certificate in a single day, e-stamping facility, self-certification for compliance with labour laws, e-sancharan system and others are steps in the right direction,n++ said Mr Rawat.

Uttar Pradesh holds enormous industrial potential, which is yet to be fully realised and considering that the state has set an average growth rate of 10 per cent in the gross state domestic product (GSDP) in the 12th Plan (2012-17), it needs to attract large scale investment in manufacturing, infrastructure and services sectors to generate more employment opportunities for its large working population.

n++Improving regulatory framework for business is a key pre-requisite for increasing investment and thereby creating jobs, as such the role of state in ensuring ease of doing business holds utmost importance for growth of manufacturing and services sector and generate employment,n++ suggested the ASSOCHAM-TARI study.

Though various industrial policies of the UP government provide concessions and incentives like stamp duty, entry tax exemptions, interest free loan, capital interest subsidy and others, however availing the same is often cumbersome and time taking involving many administrative processes and checks.

n++The UP government may consider developing a standard checklist of documents and standard operating procedures (SOP) for entrepreneurs availing these incentives and publicise them through website and other channels to bring transparency and efficiency in processes,n++ recommended the study.

Besides, a clear timeframe may be established for completion of various process and granting approvals for availing these incentives.

ASSOCHAM has also suggested to integrate the system of providing incentives under industrial policies with single window system of Nivesh Mitra, where an entrepreneur can check application, make payments, track status of approvals and refunds/credits under schemes.

Considering that Nivesh Mitra does not facilitate entrepreneurs with a composite application form for all departments, the study has suggested the UP government to implement a composite application form.

Besides it should ensure that all no objection certificates (NOCs) required for setting up an industry in the state is received online and there is minimal manual intervention. It should also facilitate payment of fees of various departments online to get clearances.

The study has further suggested that single tax identification (ID) for an entrepreneur may be generated through the single window system of Nivesh Mitra for paying all taxes.

n++Single tax ID will greatly facilitate the entrepreneurs with greater transparency and compliance who are subject to various taxes at a state level, including value added tax (VAT), central sales tax (CST), entry tax, entertainment tax and luxury tax,n++ it said.

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Uniply Industries gains after acquisition
Sep 01,2016

The announcement was made after market hours yesterday, 31 August 2016.

Meanwhile, the BSE Sensex was down 19.78 points, or 0.07%, to 28,432.39.

On BSE, so far 30,000 shares were traded in the counter, compared with average daily volume of 17,375 shares in the past one quarter. The stock hit a high of Rs 264.50 and a low of Rs 248 so far during the day. The stock hit a record high of Rs 275.40 yesterday, 31 August 2016. The stock hit a 52-week low of Rs 110 on 29 February 2016. The stock had outperformed the market over the past 30 days till 31 August 2016, rising 39.77% compared with 1.68% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 62.79% as against Sensexs 5.99% rise.

The small-cap company has equity capital of Rs 20.92 crore. Face value per share is Rs 10.

Vector Projects is one of Indias largest end-to-end architectural design and interior fit out companies, having clocked over Rs 210 crore of revenue in the last financial year. Uniply said that the consideration for the acquisition will be paid out as Rs 23.13 crore in stock swap with shares of Uniply, and Rs 40.99 crore through cash payout that will be funded by the promoters of Uniply & other participants via a private placement. Vector will be a wholly-owned subsidiary of Uniply and the impact of this acquisition is effective from 1 April 2016.

Net profit of Uniply Industries rose 79.59% to Rs 1.76 crore on 51.93% rise in net sales to Rs 38.53 crore in Q1 June 2016 over Q1 June 2015.

Uniply Industries is engaged in the manufacture, marketing and trade of plywood, laminates and allied products in India.

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