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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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Union Government has announced revised rates of interest on Small Savings Schemes for the Q1 2017-18 to bring them somewhat closer to market rates
Mar 31,2017

The Union Government has announced revised rates of interest on various small savings schemes for the first quarter of the financial year 2017-18. To bring such rates somewhat closer to market rates, the Government has decided to effect a reduction of 0.1 percentage points (10 basis points) in interest rates across the board in all the schemes except the Post Office Savings Account, which has been left untouched.

Government continues to accord highest priority to the interest of small savers, especially savings for the benefit of girl child, the senior citizens and the regular savers who form the backbone of our savings architecture. The current revision of rates is reflective of the Governments commitment to calibrated reform in the financial sector to ensure better interest rate transmission.

Various small savings schemes will continue to be very attractive compared to bank deposits of similar maturities and tenor even after this marginal reduction in interest rates by 0.1 percentage points. Apart from offering higher interest rates compared to bank deposits, some of the small savings schemes also enjoy income tax benefits. Further, small savings schemes like Senior Citizens Savings Scheme (SCSS), Sukanya Samriddhi Account (SSA), PPF, 5 year National Savings Certificate (NSC), 5 year Monthly Income Scheme (MIS) and 5 year Time Deposits (TD) enjoy additional interest rate spreads. This additional interest rate spread is 100 basis points in the case of Senior Citizen Savings Scheme, 75 basis points in Sukanya Samriddhi Account and 25 basis points spread in PPF, 5 year NSC, 5 year MIS and 5 year TD.

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Tata Consultancy Services named U.S. Partner of the Year, Commercial Category
Mar 31,2017

Tata Consultancy Services announced that it has been named U.S. Partner of the Year, Commercial Category, by Red Hat Inc., the worlds leading provider of open source solutions. This award is part of the annual Red Hat North American Partner Awards, which were announced on 28 March 2017 Red Hat North American Partner Conference in Las Vegas.

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Shriram Transport Finance Company allots NCDs aggregating Rs 95 crore
Mar 31,2017

Shriram Transport Finance Company announced that the Allotment Committee - NCDs of the Company in its meeting held on 31 March 2017 approved and allotted 950 Secured Redeemable Rated Listed Non-Convertible Debenture of face value of Rs. 10,00,000/- (Rupees Ten Lakh only) each, aggregating to Rs. 95 crore on private placement basis.

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Board of Rander Corporation appoints directors
Mar 31,2017

Rander Corporation announced that the Board of Directors at its meeting held on 30 March 2017 has considered and approved the following -

1. Appointment of Jitesh Kumar Rander (DIN: 02739297) as an Additional Independent Director w.e.f 30 March 2017.

2. Appointment of Pournima Gopale as an Internal Auditor of the Company for Financial Years 2016-17 and 2017-18

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Service charge on online booking of tickets has been withdrawn for the railway tickets booked from 23 November 2016 to 31 March 2017
Mar 31,2017

In order to help passengers and incentivize the payment through digital modes for booking of reserved tickets, service charge on online booking of tickets has been withdrawn for the tickets booked from 23 November 2016 to 31 March 2017. Approximately, an amount of Rs 184 crore has not been realized from passengers on account of service charge and service tax thereon on reserved tickets booked online from 23 November 2016 to 28 February 2017.

With a view to promoting cashless transaction on Indian Railways, various initiatives have been taken including the following:-

i. The facility of online booking of reserved ticket has been provided through Indian Railway Catering and Tourism Corporation (IRCTC) website. The payment for tickets booked through IRCTC website is made through various cashless modes such as net banking, through credit/debit cards, cash cards and e-wallets. Further, to incentivize cashless transaction, service charge on online booking of tickets has been withdrawn for the tickets booked from 23.11.2016 to 31.03.2017.

ii. The facility of booking unreserved ticket including journey, season and platform tickets through mobile phone has been introduced in all suburban sections of Central, Western, Southern, Eastern, South Central, South Eastern and Delhi-Palwal section of Northern Railway. Additional payment options under the digital modes have also been introduced to widen the scope of digital payments for purchase of unreserved tickets.

iii. The facility of renewal of season tickets through IRCTC website has been provided for suburban train services on Western and Central Railways wherein payment is made through electronic mode.

iv. It has been decided to install 10,000 Point of Sale (POS) machines in association with State Bank of India at various locations of Indian Railways i.e. PRS locations, UTS locations, Parcel/Goods locations. At present, more than 4100 POS machines have been installed over the Zonal Railways.

v. An advanced Beta version of the mobile application for booking of reserved tickets has also been launched by IRCTC giving additional options of cashless payment.

vi. Service charge applicable on transactions against credit/debit cards for purchasing journey tickets at Unreserved Ticketing System (UTS)/ Passenger Reservation System (PRS) counters has been withdrawn.

vii. Online booking facility for accredited press correspondents on the basis of registered ID card has been launched.

viii. International Credit/ Debit cards issued outside India are accepted for booking of e-tickets through IRCTC website.

ix. Free accidental insurance cover of upto `10 lakh for confirmed/RAC passengers in case of tickets booked online from 10.12.2016 to 31.03.2017.

x. Provision of 0.5% discount on season tickets purchased through digital means with effect from 01.01.2017.

xi. Provision of 5% discount on payment made online for availing services like online booking of retiring rooms with effect from 01.01.2017.

xii. Catering stalls have also been instructed to provide options for making cashless payments.

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Kisan Mouldings launches PE Water Tanks
Mar 31,2017

Kisan Mouldings has entered into PE Water Tanks at its facility in Mahagaon. The tanks will be made using n++state of the art Roto Moulding Technologyn++, and will have a capacity up to 10000 litres of storage. This product is an essential part of the building materials industry and is therefore a natural addition to the Companys product portfolio. The product is formally launched on 31 March 2017 with bookings of nearly 1month capacity received immediately.

The Mahagaon facility will see further lines being installed over the next 2-3 months. The Company has however finalised locations in Kashipur for North India and Mangalore for South India. These regional ventures are expected to commence in the next 2 months as well, perfectly timed for the peak season before the monsoon. The installed capacity of the aforesaid 3 units at the initial stage will be over 100 Tonnes per month each.

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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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