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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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Arihant Avenues & Credit renamed as Disha Resources
Mar 31,2017

Arihant Avenues & Credit has been renamed as Disha Resources with effect from 30 March 2017.

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Rama Phosphates launches new product at Udaipur unit
Mar 31,2017

Rama Phosphates has launched a new product - Zincated Fortified Single Super Phosphate at Udaipur unit with effect from 27 March 2017 with production capacity of 75000 TPA.

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NTPC edges higher on capacity expansion
Mar 31,2017

The announcement was made after market hours yesterday, 30 March 2017.

Meanwhile, the S&P BSE Sensex was down 46.56 points or 0.16% at 29,600.86.

On the BSE, 1.71 lakh shares were traded on the counter so far as against the average daily volumes of 4.34 lakh shares in the past one quarter. The stock had hit a high of Rs 166.80 and a low of Rs 163.25 so far during the day. It had hit a 52-week high of Rs 177.80 on 27 January 2017 and a 52-week low of Rs 125.05 on 7 April 2016.

The large-cap company has equity capital of Rs 8245.46 crore. Face value per share is Rs 10.

With the commissioning of 260 megawatts (MW) capacity at Bhadla solar project, the commercial capacity of NTPC and NTPC group has become 40,522 MW and 47,293 MW respectively.

NTPCs net profit fell 7.5% to Rs 2468.72 crore on 11.1% rise in net sales to Rs 19287.47 crore in Q3 December 2016 over Q3 December 2015.

NTPC, Indias largest power company, has presence in the entire value chain of power generation business. The government of India held 69.75% stake in the firm as per the shareholding pattern as on 31 December 2016.

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South Asia Subregional Economic Cooperation (SASEC) Operational Plan (OP) 2016-25 includes nine projects worth $2.4 Billion
Mar 31,2017

The Asian Development Bank (ADB) has approved a total of nine projects costing $2.42 billion as part of the Operational Plan (OP) 2016-2025 of the South Asia Subregional Economic Cooperation (SASEC) program. These projects will receive ADB financing of $1.43 billion. These nine projects represent a significant increase compared to the previous 15 years, when the annual average value of projects approved was only about $500 million.

The nine projects comprise of two rail projects in Bangladesh worth $890 million, two economic corridor initiatives (a project and program loan) and a bridge project in India worth an aggregate of $1.2 billion, trade facilitation and airport projects in Bhutan worth $27 million and key SASEC road and energy projects in Nepal worth $302 million. All these projects are aligned with the SASEC OPs thrusts of developing road and rail links aligned closely with trade routes toward the east, streamlining trade procedures, and improving energy infrastructure.

The Indian corridor projects reflect the SASEC OPs recent shift in emphasis on developing economic corridors within and between member countries. Shri Raj Kumar, Joint Secretary, Multilateral Institutions Division, Department of Economic Affairs stressed that India fully supports the SASEC OP as an important milestone in the SASEC program, especially as it will pursue the development of infrastructure to improve our economic linkages with East and Southeast Asia, in accordance with Indias Act East policy, thereby raising the competitiveness of the sub-regions enterprises.

The SASEC OP has identified over 200 potential transport, trade facilitation and energy projects which will require over $120 billion in investments for the next five years, out of which 74 projects have been identified in India with an estimated project cost of over $60 billion. Majority of these projects are located in the Northeast or Eastern part of the country.

The SASEC OP, endorsed in June 2016 by the SASEC member countries, is SASECs first comprehensive long-term plan to promote greater economic cooperation among the member countries in the areas of transport, trade facilitation, energy, and economic corridor development. Bringing regional cooperation to a higher level, the SASEC OP plans to extend physical linkages not only within SASEC but also with East and Southeast Asia by the next decade.

Established in 2001, the SASEC program is a project-based partnership to promote regional prosperity by improving cross-border connectivity, boosting trade among member countries and strengthening regional economic cooperation. ADB is the secretariat and lead financier of the SASEC program, which to date has supported a total of 46 projects worth $9.17 billion in transport, trade facilitation, energy and information and communications technology (ICT).

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Board of Swiss Glascoat Equipments allots 15 lakh equity shares on conversion of warrants
Mar 31,2017

Swiss Glascoat Equipments announced that the Board of Directors at its meeting held on 31 March 2017 has allotted 15,00,000 Equity Shares of Rs. 10 /- each to HLE Engineers Private Limited, on exercise of the option of conversion of 15,00,000 Warrants of Rs 117/- each.

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IOCL, Indiabulls Housing Finance nudge higher
Mar 31,2017

Meanwhile, the S&P BSE Sensex was up 9.49 points or 0.03% at 29,656.91.

Idea Cellular (down 0.52% at Rs 86.50) and Bharat Heavy Electricals (down 0.67% at Rs 163.70) were removed from the Nifty 50 index with effect from today, 31 March 2017.

Shares of Indian Oil Corporation (IOCL) were up 3.7% at Rs 387.75.

With regard to a news appeared in media quoting IOCL to set up 28 petrol outlets on TSRTC lands, the company issued a clarification during market hours today, 31 March 2017. IOCL said it has more than 25,000 retail outlets and such MoUs are entered in the ordinary course of business by various state offices of the company. This MoU does not have any material impact on the overall business of thecompany, it added.

As regards the news item IOCL to set up Ethanol Plant in Panipat, IOCL said the matter has been misquoted by the news agency. The proposal for setting up Ethanol plant is currently at preliminary stage and is subject to availability of land at Panipat. Disclosure would be made at the appropriate time subject to the same being material to the business of the company, it added.

Shares of Indiabulls Housing Finance were up 0.2% at Rs 990.85.

Indiabulls Housing Finance said after market hours yesterday, 30 March 2017 that it has allotted its twelfth and thirteenth tranche of secured, redeemable, non-convertible debentures aggregating to Rs 485 crore.

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13,002 villages electrified till date under DDUGJY: A new milestone achieved
Mar 31,2017

13,002 villages have been electrified till date under Deen Dayal Upadhyaya Gram JyotiYojna (DDUGJY). Out of remaining 5450 un-electrified villages, 835 villages are uninhabited. All the remaining 4615 un-electrified villages are to targeted to be electrified by 1st May, 2018. The State Wise details are as follows:

The progress of ongoing electrification process can be tracked on http://garv.gov.in/dashboard

Background of Electrification Process:

In view of the Prime Minister, Shri Narendra Modis address to nation, on Independence Day, Government of India has decided to electrify remaining 18,452 un-electrified villages within 1000 days i.e. by 01stMay, 2018.  The project has been taken on mission mode and strategy for electrification consists of squeezing the implementation schedule to 12 months and also dividing village electrification process in 12 Stage milestones with defined timelines for monitoring.

In order to expedite the progress further, a close monitoring is being done through Gram Vidyut Abhiyanta (GVA) and various actions are also being taken on regular basis like reviewing the progress on monthly basis during the RPM meeting, sharing of list of villages which are at the stage of under energization with the state DISCOM, identifying the villages where milestone progress are delayed.

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Board of McNally Bharat Engineering Company appoints CFO
Mar 31,2017

McNally Bharat Engineering Company announced that the Board of Directors of the Company at its meeting held on 31 March 2017 has appointed Lalit Khetan as the Chief Financial Officer of the Company with effect from 1 April 2017.

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Outcome of board meeting of Ushdev International
Mar 31,2017

Ushdev International announced that the Board of Directors of the company at its meeting held on 31 March 2017 approved the following -

The slump sale of
i) 9.9 MW of Tamil Nadu Undertaking to Ushdev Engitech TN
ii) 8 MW of Maharashtra Undertaking to Ushdev Engitech TN
iii) 1.6 MW of Karnataka Undertaking to Ushdev Windpark

Renounced the subscription to rights issue made by UIL Singapore and UIL Hongkong.

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Balasore Alloys allots 1 crore equity shares
Mar 31,2017

Balasore Alloys announced that the Committee for Preferential Issue of Warrants of the Board of Directors of the Company at its meeting held on 31 March 2017 has allotted 1 crore equity shares of Rs 5 each at a price of Rs 21.50 including premium of Rs 16.50 per share on preferential basis pursuant to conversion of warrants.

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Dish TV India to hold EGM
Mar 31,2017

Dish TV India announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 12 May 2017 .

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Board of India Nippon Electricals recommends dividend
Mar 31,2017

India Nippon Electricals announced that the Board of Directors of the Company at its meeting held on 30 March 2017, inter alia, have recommended the dividend of Rs 6 per equity Share (i.e. 60%) , subject to the approval of the shareholders.

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Thermax leads losers in BSEs A group
Mar 31,2017

Thermax declined 2.74% at Rs 959.90 at 13:40 IST. The stock topped the losers in A group. On the BSE, 9,858 shares were traded on the counter so far as against the average daily volumes of 5,246 shares in the past two weeks.

Gruh Finance fell 1.86% at Rs 396. The stock was the second biggest loser in A group. On the BSE, 61,000 shares were traded on the counter so far as against the average daily volumes of 44,000 shares in the past two weeks.

Sadbhav Engineering skid 1.86% at Rs 303.10. The stock was the third biggest loser in A group. On the BSE, 804 shares were traded on the counter so far as against the average daily volumes of 4.10 lakh shares in the past two weeks.

Sobha was down 1.84% at Rs 347.05. The stock was the fourth biggest loser in A group. On the BSE, 22,000 shares were traded on the counter so far as against the average daily volumes of 75,000 shares in the past two weeks.

Gujarat Pipavav Port lost 1.78% at Rs 165.45. The stock was the fifth biggest loser in A group. On the BSE, 9,545 shares were traded on the counter so far as against the average daily volumes of 32,000 shares in the past two weeks.

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Volumes jump at Satra Properties (India) counter
Mar 31,2017

Satra Properties (India) clocked volume of 3.20 crore shares by 13:31 IST on BSE, a 663.69-times surge over two-week average daily volume of 48,000 shares. The stock rose 9.92% to Rs 5.65.

Shoppers Stop notched up volume of 80.15 lakh shares, a 521-fold surge over two-week average daily volume of 15,000 shares. The stock rose 1.68% to Rs 366.50.

Riddhi Siddhi Gluco Biols saw volume of 5.93 lakh shares, a 294.25-fold surge over two-week average daily volume of 2,000 shares. The stock rose 6.6% to Rs 443.95.

Future Lifestyle Fashions clocked volume of 40.43 lakh shares, a 44.66-fold surge over two-week average daily volume of 91,000 shares. The stock surged 7.8% to Rs 262.50.

Deep Industries saw volume of 70.15 lakh shares, a 26.11-fold rise over two-week average daily volume of 2.69 lakh shares. The stock rose 2.76% to Rs 333.80.

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SASEC facilitating trade for speedier clearances with reduced transaction costs and greater predictability for trade
Mar 31,2017

South Asia Subregional Economic Cooperation (SASEC) is facilitating trade guided by the SASEC Trade Facilitation Strategic Framework (2014-2018) in the sub-region through various projects. The key projects underway in the region include, among others: (i) formulation and implementation of new Customs laws and regulations; (ii) strengthening of automated Customs systems; (iii) implementing provisions of the Revised Kyoto Convention (RKC) such as on pre-arrival processing, risk management and post-clearance audit; (iv) developing trade portals for better transparency; and (v) establishing trusted trader programs, which assure facilitation to those with proven record of compliance. The RKC is the legal instrument of the World Customs Organization (WCO) that aims to simplify and harmonize international customs procedures globally, in order to achieve faster, more predictable and efficient customs clearances.

Considering the progress made by India in the above areas, the Asian Development Bank (ADB) has been partnering with Indian Customs for sharing best practices and technical expertise with other countries under the SASEC umbrella. This form of South-South collaboration will support harmonizing the systems and processes within the sub-region thereby creating a conducive environment for intra-regional trade in SASEC to flourish.

The through-transport arrangements being finalized among Bangladesh, Bhutan, India and Nepal (BBIN) is an initiative that would help in seamless cross-border movement of vehicles/cargo among identified corridors bringing down transaction costs and delays and easing the border congestion.

ADB is also supporting India to develop integrated solutions for enhancing their logistics efficiency, covering the infrastructure and connectivity needed, as well as a logistics facilitation model that would enable faster and more efficient vehicle/cargo movement. This project would also cover international cargo, providing options for cargo clearance (e.g., at inland/ dry ports, bonded warehouses, etc.) enabling traders to manage their supply chain efficiently and decongesting ports.

ADB has been following a consultative process in working with private sector stakeholders for raising awareness and building their capacity and to make sure their views are reflected in designing the national trade facilitation initiatives.

All of these efforts are expected to lead to speedier clearances with reduced transaction costs and greater predictability for trade. These will also improve compliance levels and more efficient allocation and use of resources by the regulatory agencies in the sub-region, which will ultimately lead to enhanced trade activity and improved economic competitiveness of the SASEC sub-region.

The trade facilitation actions under SASEC are guided by the SASEC Trade Facilitation Strategic Framework (2014-2018), adopted by the SASEC members in March 2014, across its priority areas of: (i) Customs modernization/ harmonization, (ii) standards and conformity assessment, (iii) cross-border facilities improvement, (iv) through transport facilitation, and (v) institution/ capacity building. Under the Framework, various initiatives are underway to ensure that measures in relation to import, export and transit are efficient, proportionate, non-discriminatory, transparent and predictable and, to the extent possible, based on International standards and instruments.

Established in 2001, the SASEC program is a project-based partnership to promote regional prosperity by improving cross-border connectivity, boosting trade among member countries and strengthening regional economic cooperation. The Asian Development Bank is the secretariat and lead financier of the program, which to date has supported a total of 46 projects worth about $9.2 billion in transport, trade facilitation, energy, information and communications technology (ICT) and economic corridor development.

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