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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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M&M gains after announcing incorporation of a subsidiary company in UAE
Aug 30,2016

The announcement was made after market hours yesterday, 29 August 2016.

Meanwhile, the S&P BSE Sensex was up 185.31 points or 0.66% at 28,087.97

On BSE, so far 5,540 shares were traded in the counter as against average daily volume of 90,979 shares in the past one quarter. The stock hit high of Rs 1,433.25 and low of Rs 1,425.50 so far during the day. The stock had hit a record high of Rs 1,508.80 on 9 August 2016. The stock had hit a 52-week low of Rs 1,092 on 12 February 2016. The stock had underperformed the market over the past 30 days till 29 August 2016, falling 3.05% compared with 0.53% fall in the Sensex. The scrip, however, outperformed the market in past one quarter, rising 7.35% as against Sensexs 4.63% rise.

The large-cap company has an equity capital of Rs 310.55 crore. Face value per share is Rs 5.

Bristlecone Middle East DMCC was incorporated as a 100% subsidiary of Bristlecone, which in turn is a subsidiary of Mahindra & Mahindra (M&M). Bristlecone Middle East DMCC was incorporated to promote business consulting, software implementation and related support services. The authorised capital of Bristlecone Middle East DMCC is 50,000 UAE Dirham.

M&Ms net profit rose 12.37% to Rs 955.21 crore on 13.56% growth in total income to Rs 11348.62 crore in Q1 June 2016 over Q1 June 2015.

M&M enjoys a leadership position in tractors and utility vehicles in India.

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Malabar Trading Company to hold AGM
Aug 30,2016

Malabar Trading Company announced that the th Annual General Meeting(AGM) of the company on 30 September 2016.

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Golden Goenka Fincorp to hold AGM
Aug 30,2016

Golden Goenka Fincorp announced that the 23th Annual General Meeting(AGM) of the company on 21 September 2016.

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Deccan Polypacks to hold AGM
Aug 30,2016

Deccan Polypacks announced that the 32th Annual General Meeting(AGM) of the company on 29 September 2016.

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Mrugesh Trading to hold AGM
Aug 30,2016

Mrugesh Trading announced that the 32th Annual General Meeting(AGM) of the company on 30 September 2016.

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Havells India gets assigned Solar Energy Grading for accrediation of Channel Partners
Aug 30,2016

Havells India announced that CARE has assigned a SP1A grading to the Company viz. Havells India upon its request for assigning Solar Energy Grading (Solar Integrator (PV)) under the Ministry of New and Renewable Energy (MNRE) scheme for accreditation of Channel Partners.

The Solar Energy Grading, valid till 26 August 2018, indicates Highest performance capability and Highest financial strength of the graded entity.

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DLF gains after Q1 results
Aug 30,2016

The result was announced after market hours yesterday, 29 August 2016.

Meanwhile, the BSE Sensex was up 196.92 points, or 0.71%, to 28,099.58.

On BSE, so far 4.65 lakh shares were traded in the counter, compared with average daily volume of 10.60 lakh shares in the past one quarter. The stock hit a high of Rs 161.45 and a low of Rs 155.10 so far during the day. The stock hit a 52-week high of Rs 169.60 on 19 August 2016. The stock hit a 52-week low of Rs 72.50 on 12 February 2016. The stock had underperformed the market over the past 30 days till 29 August 2016, falling 2.34% compared with 0.53% slide in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 21.91% as against the Sensexs 4.63% rise.

The large-cap company has equity capital of Rs 356.79 crore. Face value per share is Rs 2.

DLFs bottom line in Q1 June 2016 was boosted by one-time extraordinary gain of Rs 372 crore from the sale of DT cinemas to PVR. The companys consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) fell 1% to Rs 903 crore in Q1 June 2016 over Q1 June 2015.

DLF said in a post result statement that the residential sector remains muted across all micro-markets. The company continues to implement its strategy of completing legacy projects and creating finished inventory and hence well positioned to profit when there is an uptick in the market dynamics, DLF said.

Going ahead, the company expects increased momentum in the commercial space. As the company has exhausted most of its available commercial stock, it has commenced construction of office space in Chennai IT SEZ in the second quarter. Construction of Cyber Park at full pace and finishing of luxury retail mall at Chanakyapuri is underway. The company is focused on aggregating leases which are expiring to enable it to contract it to high value high creditworthy tenants, it added.

DLFs primary business is development of residential, commercial and retail properties.

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Prime Focus Technologies secures first round of funding from Ambit Pragma
Aug 30,2016

Prime Focus Technologies (PFT), the technology subsidiary of Prime Focus has secured the first round of funding from Ambit Pragma, a growth capital private equity fund.

PFT proposes to use the investment for intensifying development efforts of the SaaS products including CLEAR Media ERP and gaining deeper penetration and growth in strategic markets such as North America and EMEA with increased Sales and Marketing efforts.

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India will be one of top 5 global pharma innovation hubs by 2020 through its PPP model: study
Aug 30,2016

To push India into top five pharmaceutical innovation hubs by 2020 and establish global presence by launching 1 out of every 5-10 drugs discovered in India at global level, the government is preparing for multi-billion dollar investment with 50% public funding through its public private partnership (PPP) model to enhance innovation capability, reveals the joint study.

The Indian Government has been very active in boosting growth and investment in Indian pharmaceutical industry. It allows 100 per cent FDI (Foreign Direct Investment) under automatic route (without prior permission) in the pharmaceuticals sector. FDI favourably impacts the Indian pharma industry by providing access to more capital/funds for investing in R&D, which in turn, leads to creation of more IPR, highlighted the study titled IPR in pharmaceuticals: Balancing, innovation and access, jointly conducted by ASSOCHAM and TechSci Research.

The Government has been actively undertaking policy initiatives for growth of the pharmaceutical industry. One such initiative is tax-breaks in the pharmaceutical sector. There is also a weighted tax deduction at a rate of 150% for the research and development expenditure incurred. Steps to streamline methods for development of a new drug molecule, or clinical research, etc., have also been considered. Indian Government also launched two schemes including New Millennium Indian Technology Leadership Initiative in 2003, and the Drugs and Pharmaceuticals Research Programme in 1994-95, specially targeted at pharmaceutical research, adds the study.

The Department of Industrial Policy and Promotion (DIPP) data suggests that the drugs and pharmaceuticals sector in India has attracted FDI worth USD 1,523 million during April 2014-March 2015.

Additionally, industrial licenses are not essential in India for most of the pharmaceutical products. Hence, drug manufacturers are free to develop any drug upon approval by the Drug Control Authority.

The act of protecting ones innovation through a patent has initiated investments from many multinational pharmaceutical companies in India. These MNCs are looking at India for its strength in contract manufacturing and as an attractive base for research and development (R&D), particularly for conducting clinical trials and other services.

Indian and foreign pharmaceutical companies are progressing with rising patented drug launches in India. The Indian Patent Office granted 2008 patents between 2010 and 2013.

The Department of Pharmaceuticals has drafted Pharma Vision 2020 document, with an aim to establish India as a leading county for end-to-end drug manufacturing and innovation. This initiative by the government aims at providing support to Indian pharmaceutical sector through state of- the-art infrastructure, internationally competitive scientific research personnel for pharmaceutical R&D, and funding for research in the public and private sectors.

The Central Drug Standard Control Organisation (CDSCO), which falls under the scope of the Ministry of Health and Family Welfare, is the main pharma regulatory body in India. The Drug Controller General of India (DCGI) presides over the CDSCO at both the central and state levels.

Sun Pharmaceuticals acquired Ranbaxy Laboratories in 2015, in order to achieve full compliance with regulatory framework for drug manufacturing in India, meet expectations of Indian regulatory authorities, and increase R&D for launch of innovative products, thereby generating high revenues across India.

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eClerx Services hits record high after board approves buyback
Aug 30,2016

The announcement was made after market hours yesterday, 29 August 2016.

Meanwhile, the BSE Sensex was up 164.10 points, or 0.59%, to 28,066.76.

On BSE, so far 15,000 shares were traded in the counter, compared with average daily volume of 9,886 shares in the past one quarter. The stock hit a high of Rs 1,775 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 1,680.10 so far during the day. The stock hit a 52-week low of Rs 1,170 on 29 September 2015. The stock had outperformed the market over the past 30 days till 29 August 2016, rising 5.23% compared with 0.53% slide in the Sensex. The scrip had also outperformed the market in past one quarter, rising 15.36% as against Sensexs 4.63% rise.

The mid-cap company has equity capital of Rs 40.85 crore. Face value per share is Rs 10.

eClerx Services board of directors at its meeting held yesterday, 29 August 2016, approved a proposal for buyback of equity shares of the company for an aggregate amount not exceeding Rs 234 crore at a price not exceeding Rs 2,200 per share. The company will buy back shares on proportionate basis from existing shareholders through the tender offer route. At maximum buyback price, the buyback translates into approximately 10.68 lakh equity shares of the company, representing about 2.62% of the total paid up equity share capital of the company as on 31 March 2016. The promoters and promoter group of the company intend to participate in the proposed buyback.

On a consolidated basis, net profit of eClerx Services rose 27.25% to Rs 95.92 crore on 14.09% rise in net sales to Rs 340.33 crore in Q1 June 2016 over Q1 June 2015. The company declared its Q1 June 2016 results yesterday, 29 August 2016.

eClerx Services is a leading knowledge process outsourcing (KPO) company providing middle/back office operations support to over 30 Fortune 500 companies. Its five delivery centers across India support a diverse global client base, including the worlds leading financial services, broadband, cable & telecom, ecommerce & retail, high tech, industrial manufacturing & distribution, software, media & entertainment and travel companies.

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Outcome of board meeting of Rohit Ferro-Tech
Aug 30,2016

Rohit Ferro-Tech announced that the Board of Directors of the Company at its meeting held on 29 August 2016, inter alia, has transacted the following :

- Ankit Patni has been appointed as Managing Director by the Board of Directors w.e.f. 29 August 2016, subject to approval of the shareholders in ensuing Annual General Meeting.

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Shri Ananth Kumar Stresses Upon The Need For Affordable Medicines; Launches Pharma Sahi Daam Mobile App
Aug 30,2016

The Union Minister of Chemicals & Fertilizers and Parliamentary Affairs Shri Ananth Kumar has appealed to the industry leaders, State Governments, other departments and civil society in pooling efforts to make available medicines at affordable prices to the common man. Speaking at a function in New Delhi on the occasion of NPPA Foundation Day today, he said that in the last two and a half years, almost 900 formulations have been brought under the price control, providing a saving of about 5000 crores to the consumers. He said that National Pharmaceutical Pricing Authority (NPPA) has already come out with ceiling price of 368 new drugs within 6 months of the issue of New National List of Essential Medicines-2015.

The Minister launched a mobile App. developed by NPPA which shows the MRP fixed by NPPA for various scheduled drugs on real time basis. Sh. Ananth Kumar said that application will be called n++Pharma Sahi Daamn++. He also unveiled the logo of NPPA which will be displayed on packing of all scheduled medicines. The Minister said that amendments will be made soon to empower NPPA in gathering data and taking appropriate decisions for the drugs included in the NLEM but market data is not available. Sh. Ananth Kumar said that he is pursuing the case for making an independent Ministry for Pharmaceuticals so that all decisions regarding the industry could be taken under a single roof.

The Minister advocated a 3A approach to achieve health security for every citizen of India. He stressed that Universal Healthcare can be achieved only by ensuring the Availability, Affordability and Accessibility (3A) of medicines to the common man. Shri Ananth Kumar highlighted the need of transparent and efficient discovery of drug prices and regulation of the pharma sector.

Sh. Ananth Kumar said that the pharmaceutical industry has risen to almost US$37 billion and Indian medicines are being exported to over 200 countries. Pharmaceutical is a sunrise industry and the Government is keen to provide support to it through various means like pharmaceutical parks, medical devices parks, pharmaceutical clusters and promotion of innovation through Atal Innovation Scheme.

Under the dynamic leadership of the Prime Minister Shri Narendra Modi, the Minister said that two pronged strategy is being adopted to provide cheap medicines to the common man- one is through regulating the prices by NPPA and another is opening of PM Jan Aushadhi Stores. He said that within one year, 3000 PM Jan Aushadhi Stores will be opened in the country covering all districts and tehsils. Sh. Ananth Kumar said that most of the medicines in Jan Aushadhi Stores cost 30 to 40 per cent as compared to the market cost and no medicine in Jan Aushadhi Store is more than 50 per cent of the market cost.

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Wipro in spotlight after collaboration with Stibo for enterprise data management offering
Aug 30,2016

Wipro after market hours yesterday, 29 August 2016, announced a partnership with Stibo Systems, a global leader in multi-domain Master Data Management (MDM) solutions. As part of the partnership, the two companies will collaborate to offer MDM solutions. This partnership is aimed at building trust-worthy data foundations to help joint customers derive accurate insights as they embrace digital transformation, Wipro and Stibo Systems said in a joint press release.

Coal India after market hours yesterday, 29 August 2016, announced that it has fixed 9 September 2016 as the record date for the purpose of buyback of equity shares. The companys board on 11 July 2016, approved buyback of shares at a price of Rs 335 per share for an aggregate consideration not exceeding Rs 3650 crore through the tender offer route. The companys promoters would participate in the buyback.

Zee Entertainment Enterprises (Zee) in its clarification with regard to news item titled Sony likely to buy Ten Sports from Zee Entertainment for about Rs 2000 crore said that the company is at an advanced stage of discussion for sale of the sports business with potential buyers. However, owing to confidentiality provisions, the company is unable to comment on specific details or timelines, Zee said. Appropriate disclosures will be made as and when any reporting event arises, the company added. The company issued the clarification after market hours yesterday, 29 August 2016.

Mahindra & Mahindra (M&M) after market hours yesterday, 29 August 2016, announced the incorporation of a subsidiary company viz. Bristlecone Middle East DMCC, for providing business consulting, software implementation and related support services.

eClerx Services board of directors at its meeting held yesterday, 29 August 2016, approved a proposal for buyback of equity shares of the company for an aggregate amount not exceeding Rs 234 crore at a price not exceeding Rs 2,200 per share. At maximum buyback price, the buyback translates into approximately 10.68 lakh equity shares of the company, representing about 2.62% of the total paid up equity share capital of the company as on 31 March 2016. The promoters and promoter group of the company intend to participate in the proposed buyback. The announcement was made after market hours yesterday, 29 August 2016.

Oracle Financial Services Software turns ex-dividend today, 30 August 2016, for dividend of Rs 100 per share for the year ended 31 March 2016.

Chennai Petroleum Corporation turns ex-dividend today, 30 August 2016, for dividend of Rs 4 per share for the year ended 31 March 2016.

HSIL turns ex-dividend today, 30 August 2016, for dividend of Rs 4 per share for the year ended 31 March 2016.

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DLF consolidated net profit rises 107.69% in the June 2016 quarter
Aug 29,2016

Net profit of DLF rose 107.69% to Rs 261.42 crore in the quarter ended June 2016 as against Rs 125.87 crore during the previous quarter ended June 2015. Sales declined 21.82% to Rs 1867.46 crore in the quarter ended June 2016 as against Rs 2388.72 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales1867.462388.72 -22 OPM %39.8936.38 - PBDT155.12378.50 -59 PBT8.88246.05 -96 NP261.42125.87 108

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MOIL standalone net profit declines 47.54% in the June 2016 quarter
Aug 29,2016

Net profit of MOIL declined 47.54% to Rs 47.15 crore in the quarter ended June 2016 as against Rs 89.88 crore during the previous quarter ended June 2015. Sales rose 0.42% to Rs 183.53 crore in the quarter ended June 2016 as against Rs 182.77 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales183.53182.77 0 OPM %18.6343.95 - PBDT93.53147.97 -37 PBT81.47136.16 -40 NP47.1589.88 -48

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