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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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Vegetable Products reports standalone net profit of Rs 0.02 crore in the June 2016 quarter
Aug 31,2016

Net profit of Vegetable Products reported to Rs 0.02 crore in the quarter ended June 2016 as against net loss of Rs 0.05 crore during the previous quarter ended June 2015. There were no Sales reported in the quarter ended June 2016 and during the previous quarter ended June 2015.

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BPCL drops as Q1 GRM declines
Aug 31,2016

Meanwhile, the S&P BSE Sensex was up 109.16 points or 0.39% at 28,452.17

On BSE, 2.52 lakh shares were traded in the counter as against average daily volume of 1.59 lakh shares in the past one quarter. The stock hit a high of Rs 610 and a low of Rs 598.10 in intraday trade. The stock had hit a record high of Rs 616.55 on 8 August 2016. The stock had hit a 52-week low of Rs 366.10 on 23 February 2016. The stock had outperformed the market over the past 30 days till 30 August 2016, rising 2.06% compared with 1.21% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 23.01% as against Sensexs 6.1% rise.

The large-cap company has equity capital of Rs 1446.17 crore. Face value per share is Rs 10.

BPCLs net profit rose 11.01% to Rs 2620.50 crore on 2.99% fall in total income to Rs 57380.65 crore in Q1 June 2016 over Q1 June 2015. The company announced Q1 June 2016 results during market hours today, 31 August 2016.

In Q1 June 2016, BPCL did not get any discount from ONGC/GAIL (India)/NRL in respect of crude oil/products purchased from them compared with discount of Rs 203.33 crore in Q1 June 2015.

BPCL is a state-run oil refining-cum-marketing company. The Government of India currently holds 54.93% stake in BPCL (as per the shareholding pattern as on 30 June 2016).

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Cabinet apprised of MoU between CERT-In India and CERT-UK
Aug 31,2016

The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has been apprised of the Memorandum of Understanding (MoU) signed on 20th May, 2016 between Indian Computer Emergency Response Team (CERT-In) and Ministry of Cabinet Office, UK (as represented by CERT-UK, a unit of the Cabinet Office on Cyber Security).

The MoU intends to promote closer cooperation between India and the United Kingdom for exchange of knowledge and experience in detection, resolution and prevention of security-related incidents.

Cyber Security was one of the agenda items for discussion during Honble Prime Ministers visit to UK in November, 2015. With this MoU, participating countries can exchange technical information on Cyber attacks, response to cyber security incidents and find solutions to counter the cyber attacks. They can also exchange information on prevalent cyber security policies and best practices. This MoU helps to strengthen cyber space of both countries, capacity building and improving relationship between them.

Earlier CERT-In signed MoUs with counterpart/similar organizations in about seven countries - Korea, Canada, Australia, Malaysia, Singapore, Japan and Uzbekistan. Ministry of External Affairs has also signed MoU with Cyber Security as one of the areas of cooperation with Shanghai Cooperation Organization.

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HEG announces change in directorate
Aug 31,2016

HEG announced that

1. Ravi jhunjhunwala, Chairman, Managing Director & CEO of the Company shall also be the Occupier of the plants of the Company in terms of the requirements of the Factories Act, 1948 with effect from 01 September 2016.

2. Raju Rustogi, who is the Chief Financial Officer of the Company, has also been appointed as Chief Operating Officer of the Company with effect from 01 September 2016.

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Rajesh Exports secures export order from Singapore
Aug 31,2016

Rajesh Exports has secured an export order worth Rs 1172 crore of designer range of gold and diamond studded jewellery and medallions from Singapore. The said order is to be completed by December 2016.

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Idea Cellular to pay final dividend
Aug 31,2016

Idea Cellular announced that final dividend, if approved at the AGM, will be paid / dispatched to the Companys equity shareholders on or after 30 September 2016.

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Syndicate Bank intimates of bank strike
Aug 31,2016

Syndicate Bank announced that the members of some of the Bank unions viz, AIBEA, BEFI, AIBOA, AIBOC, INBEF and INBOC have given a call to observe All India Bank Strike on 02 September 2016.

The operations of branches /offices of the Bank will likely to be affected either partially or fully, in case the above strike materializes.

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Construction stocks in demand
Aug 31,2016

HCC (up 19.83%), Unity Infraprojects (up 14.01%), Gammon Infrastructure Projects (up 6.71%), NCC (up 4.12%), Valecha Engineering (up 3.55%), Tarmat (up 2.31%), Patel Engineering (up 2.24%), KNR Constructions (up 2.14%), NBCC (up 1.17%), Man Infraconstruction (up 0.51%), RPP Infra Projects (up 0.14%) and Sunil Hitech (up 0.08%), edged higher. Sadbhav Engineering (down 0.25%) and IRB Infrastructure Developers (down 0.62%) edged lower.

The S&P BSE Sensex was up 152.11 points, or 0.54% at 28,495.12.

The Cabinet Committee on Economic Affairs (CCEA) today, 31 August 2016, approved a series of initiatives to revive the construction sector. As per the new initiatives, CCEA allowed contractors to move to the new speedier arbitration process, approved release of 75% of the amount in dispute against margin free bank guarantee and provided for a conciliation board comprising of independent subject experts in order to ensure speedy disposal of pending or new cases.

Item-rate contracts, may be substituted by engineering, procurement, and construction (turnkey) contracts, and PSUs/departments may adopt the model EPC contracts for construction works. The Department of Financial Services, in consultation with Reserve Bank of India, may evolve a suitable one-time scheme for addressing stressed bank loans in the construction sector, the government said in a statement.

These initiatives are expected to help in improving the liquidity in the short run and reform the contracting regime in the long run. Given the significant multiplier effect the construction sector has on the economy, these measures are expected to give a major boost to economic growth. As the sector provides the largest segment of direct and indirect employment, the revival of the sector would also help in significant employment generation, according to the government statement

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Cabinet approves redevelopment of Berths 8, 9 and Barge Berths at the Port of Mormugao, Goa
Aug 31,2016

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has given its approval for Redevelopment of Berths 8, 9 and Barge Berths at the Port of Mormugao, Goa on Public Private Partnership (PPP) mode at an estimated cost of Rs. 1145.36 crore. The project will be completed within 36 months from the date of award of concession.

The project envisages reconstruction of 3 old berths and replacement of 38 year old equipment by creating facilities for handling a variety of cargo like iron ore, bauxite, gypsum, limestone, fertilizers, steel coils and other general cargo at Mormugao Port catering to ships up to 1,85,000 DWT. The existing capacity of these old berths with 38 year old iron ore handling equipment is 13 Million Tonnes Per Annum (MTPA). As a result of modernization of berths, more efficient operations due to this project and utilization of deeper draft of 19.5 Mts. being created in the port, an incremental capacity of 6.22 MTPA would be added.

Construction activity includes construction of berths, buildings, railway lines, dredging and reclamation and installation of equipment. The construction process particularly the civil works are labour intensive and will lead to employment generation. The direct and indirect employment in this regard will be about 400 people per day. The project will contribute to industrial growth of Goa. The project will have a positive effect on industries such as steel, power, iron ore, agriculture and cement.

This project is primarily meant for export of iron ore to meet the growing demand of Goan iron ore due to the lifting of ban on export of iron ore.

State of the art technology will be used to address environment concerns.

The following measures will ensure it:

i) Entire iron ore will be brought to the port through barges using inland waterways of rivers Mandovi and Zuari and no road movement is involved.

ii) Iron ore will be unloaded through grab un-loaders and discharged into hoppers for stockpiling. For cargo retrieval, bucket wheel reclaimers will be used and loaded onto vessels by stackers.

iii) All the conveying system will be covered.

iv) Dry fog system will be installed so that there are no fugitive dust emissions. Additionally water spraying/sprinkling systems will be installed at specific discharge points to mitigate the problems.

v) The stockpile will be stored under proper cover.

vi) The possibility of dust formation would also be under control as no wagon tippling would be involved.

The project will prove to be a boon for Goan economy.

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Sellwin Traders reports standalone net loss of Rs 0.05 crore in the June 2016 quarter
Aug 31,2016

Net Loss of Sellwin Traders reported to Rs 0.05 crore in the quarter ended June 2016 as against net loss of Rs 0.04 crore during the previous quarter ended June 2015. There were no Sales reported in the quarter ended June 2016 and during the previous quarter ended June 2015.

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Cabinet approves dissolution of Central Inland Water Transport Corporation
Aug 31,2016

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval to proposal for dissolution of Central Inland Water Transport Corporation Limited (CIWTC). The Voluntary Retirement Scheme for CIWTC was implemented in the year 2015 as per decision of the Cabinet on 24.12.2014.

CIWTC, a company incorporated on 22nd February 1967 under the Companies Act 1956 by the Government of India, when it took over the assets and liabilities of the erstwhile River Steam Navigation Company under a scheme approved by the Calcutta High Court. Due to inherent limitation and infrastructure bottle necks, the operations of CIWTC could never become viable and company has been incurring losses since inception. The Company has only five employees at present.

In line with the decision of the Government to revitalize sick CPSUs wherever possible or to wind up irretrievable cases, the dissolution of the CIWTC would be initiated after disposal of movable and immovable assets. This would free up the assets for better utilization and for the benefit of the people. A number of assets would be taken up by Inland Waterways Authority of India to provide services on Brahmputra River (NW-4).

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Tata Motors hits 52-week high on plan to turnaround domestic business
Aug 31,2016

Meanwhile, the S&P BSE Sensex was up 140.46 points, or 0.5%, to 28,483.47

On BSE, so far 12.60 lakh shares were traded in the counter, compared with average daily volume of 9.20 lakh shares in the past one quarter. The stock hit a high of Rs 548.15 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 529 so far during the day. The stock hit a 52-week low of Rs 266 on 11 February 2016. The stock had outperformed the market over the past 30 days till 30 August 2016, rising 3.98% compared with 1.21% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 17.61% as against Sensexs 6.1% rise.

The large-cap company has equity capital of Rs 577.44 crore. Face value per share is Rs 2.

Tata Motors Chief Executive Officer & Managing Director Guenter Butschek was quoted as saying that the company is aiming to be among the top three car brands in India by year ended 31 March 2019 (FY 2019), from being in the fifth position in FY 2016. The company is rationalising the number of suppliers and will eliminate those that do not meet its standards on quality, cost and timely delivery, Butschek said according to reports.

Butschek who is at the helm of all operations of Tata Motors in India, South Korea, Thailand, Indonesia and South Africa was quoted as saying that Tata Motors has completed a study of its passenger vehicles business and will consider phasing out models that are not performing well. Butschek further said that company will launch products with new technologies and a focus on safety, low emissions and fuel economy, according to reports.

Tata Motors consolidated net profit declined 56.98% to Rs 2260.40 crore on 8.64% rise in total income to Rs 66559.08 crore in Q1 June 2016 over Q1 June 2015.

Tata Motors is a market leader in commercial vehicles in India. The companys British unit JLR sells premium luxury cars.

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Mishka Finance & Trading to hold AGM
Aug 31,2016

Mishka Finance & Trading announced that the th Annual General Meeting(AGM) of the company on 28 September 2016.

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Beeyu Overseas to hold AGM
Aug 31,2016

Beeyu Overseas announced that the 23th Annual General Meeting(AGM) of the company on 30 September 2016.

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West Coast Paper Mills to hold board meeting
Aug 31,2016

West Coast Paper Mills will hold a meeting of the Board of Directors of the Company on 8 September 2016 Quarterly results

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