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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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ADF Foods to hold board meeting
Jul 13,2017

ADF Foods will hold a meeting of the Board of Directors of the Company on 20 July 2017, to fix the date of dividend payment in respect of the final dividend on equity shares

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Tata Coffee to hold board meeting
Jul 13,2017

Tata Coffee will hold a meeting of the Board of Directors of the Company on 27 July 2017, to consider the Financial Results of the Company for the quarter ended 30th June, 2017

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Pentamedia Graphics to hold AGM
Jul 13,2017

Pentamedia Graphics announced that the 41st Annual General Meeting (AGM) of the company will be held on 23 August 2017.

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TCPL Packaging to hold board meeting
Jul 13,2017

TCPL Packaging will hold a meeting of the Board of Directors of the Company on 15 July 2017, to consider the proposal of raising funds through issue of equity shares on preferential allotment basis

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Kirloskar Industries to hold board meeting
Jul 13,2017

Kirloskar Industries will hold a meeting of the Board of Directors of the Company on 25 July 2017, to consider and take on record Standalone Un-audited Financial Results for the first quarter ended 30 June 2017.

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Elantas Beck India to hold board meeting
Jul 13,2017

Elantas Beck India will hold a meeting of the Board of Directors of the Company on 25 July 2017, to consider and approve the un-audited Financial Results of the Company for the quarter ended 30 June 2017.

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Anuh Pharma drops on profit booking
Jul 13,2017

Meanwhile, the S&P BSE Sensex was up 252.09 points or 0.79% at 32,056.91. The S&P BSE Small-Cap index rose 65.24 points or 0.41% at 15,962.25.

On the BSE, 6,872 shares were traded on the counter so far as against the average daily volumes of 8,407 shares in the past one quarter. The stock had hit a high of Rs 190 and a low of Rs 184 so far during the day. The stock had hit a 52-week high of Rs 290 on 20 September 2016 and a 52-week low of Rs 170 on 4 July 2017.

The stock had outperformed the market over the past one month till 12 July 2017, advancing 4.35% compared with the Sensexs 2.28% rise. The stock had, however, underperformed the market over the past one quarter, declining 7.72% as against the Sensexs 7.29% rise. The scrip had also underperformed the market over the past one year, sliding 12.83% as against the Sensexs 14.37% rise.

The small-cap company has equity capital of Rs 12.53 crore. Face value per share is Rs 5.

Shares of Anuh Pharma had surged 8.53% in the preceding six trading sessions to settle at Rs 188.25 yesterday, 12 July 2017, from its close of Rs 173.45 on 4 July 2017.

Anuh Pharmas net profit fell 11.1% to Rs 4.57 crore on 22% decline in net sales to Rs 54.70 crore in Q4 March 2017 over Q4 March 2016.

Anuh Pharma manufactures active pharmaceutical ingredients (APIs).

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Gartner Says Worldwide IT Spending Forecast to Grow 2.4 Percent in 2017
Jul 13,2017

Worldwide IT spending is projected to total $3.5 trillion in 2017, a 2.4 percent increase from 2016, according to Gartner, Inc. This growth rate is up from the previous quarters forecast of 1.4 percent, due to the U.S. dollar decline against many foreign currencies.

Digital business is having a profound effect on the way business is done and how it is supported, said John-David Lovelock, vice president and distinguished analyst at Gartner. The impact of digital business is giving rise to new categories; for example, the convergence of software plus services plus intellectual property. These next-generation offerings are fueled by business and technology platforms that will be the driver for new categories of spending. Industry-specific disruptive technologies include the Internet of Things (IoT) in manufacturing, blockchain in financial services (and other industries), and smart machines in retail. The focus is on how technology is disrupting and enabling business.

The Gartner Worldwide IT Spending Forecast is the leading indicator of major technology trends across the hardware, software, IT services and telecom markets. For more than a decade, global IT and business executives have been using these highly anticipated quarterly reports to recognize market opportunities and challenges, and base their critical business decisions on proven methodologies rather than guesswork.

The worldwide enterprise software market is forecast to grow 7.6 percent in 2017, up from 5.3 percent growth in 2016. As software applications allow more organizations to derive revenue from digital business channels, there will be a stronger need to automate and release new applications and functionality.

With the increased adoption of SaaS-based enterprise applications, there also comes an increase in acceptance of IT operations management (ITOM) tools that are also delivered from the cloud, said Mr. Lovelock. These cloud-based tools allow infrastructure and operations (I&O) organizations to more rapidly add functionality and adopt newer technologies to help them manage faster application release cycles. If the I&O team does not monitor and track the rapidly changing environment, it risks infrastructure and application service degradation, which ultimately impacts the end-user experience and can have financial as well as brand repercussions.

IT spending increased in 2016, but only two of the top 10 IT vendors posted organic revenue growth. With revenue sources still tied to the Nexus of Forces (the convergence of social, mobility, cloud and information), some of the top 10 vendors will fare better in 2017 due to strength in mobile phone sales. Worldwide spending on devices (PCs, tablets, ultramobiles and mobile phones) is projected to grow 3.8 percent in 2017, to reach $654 billion. This is up from the previous quarters forecast of 1.7 percent. Mobile phone growth will be driven by increased average selling prices (ASPs) for premium phones in mature markets due to the 10th anniversary of the iPhone and the increased mix of basic phones over utility phones. However, the tablet market continues to decline, as replacement cycles remain extended.

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Goa Carbon hits record high after strong Q1 earnings
Jul 13,2017

The result was announced during market hours today, 13 July 2017.

Meanwhile, the S&P BSE Sensex was up 236.08 points, or 0.74% at 32,040.90. The S&P BSE Small-Cap index was up 62.74 points, or 0.39% at 15,959.75.

High volumes were witnessed on the counter. On the BSE, 5.14 lakh shares were traded on the counter so far as against the average daily volumes of 1.90 lakh shares in the past one quarter. The stock had hit a high of Rs 383 so far during the day, which is also its record high. The stock hit a low of Rs 368.25 so far during the day. The stock had hit a 52-week low of Rs 85.10 on 21 November 2016.

The stock had outperformed the market over the past one month till 12 July 2017, advancing 133.06% compared with the Sensexs 2.28% rise. The scrip had also outperformed the market over the past one quarter gaining 142.51% as against the Sensexs 7.29% rise. The scrip had also outperformed the market over the past one year advancing 263.4% as against the Sensexs 14.37% rise.

The small-cap company has equity capital of Rs 9.15 crore. Face value per share is Rs 10.

Shares of Goa Carbon had witnessed a pre-result rally. The stock had surged 23.74% in three trading sessions to settle at Rs 364.85 yesterday, 12 July 2017, from a close of Rs 294.85 on 7 July 2017.

Goa Carbon is engaged in the business of manufacturing and marketing of calcined petroleum coke.

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CII CRIKC in Pact on Industry Academia Partnership
Jul 13,2017

Confederation of Indian Industry (CII) Northern Region and Chandigarh Region Innovation and Knowledge Cluster (CRIKC) of Panjab University today signed a Memorandum of Understanding (MoU) on Industry-Academia partnership.

Speaking on the occasion, H E Shri V P Singh bandore, Honble Governor - Punjab & Administrator, U T Chandigarh, said, n++This historic MoU between CII and CRIKC will help in bridging the skill gap and will also open doors to a win-win situation for both sectors which form the foundation of a progressive Nation. By taking advantage of new technologies and by collaborating with the industry forces, we can build a new model of education and create a supportive ecosystem to shape a new way of working and learning. India needs young graduates with innovative thinking to develop and manufacture new products to address the challenges faced by the industry and society. It is time to strengthen our higher education system so that students are adequately prepared to succeed in an evolving world.n++

The MoU signed envisages that a CRIKC-CII (NR) Industry-Academia (I-A) Board will be created to prepare a roadmap and devise governance model to promote partnership programmes between the research and educational institutes in Chandigarh region and industries represented by CII-NR. The Board shall endeavor to undertake a number of activities such as creation of Industry-Academia Interfaces, Submit collaborative Research-Projects to public and private funding agencies, Set up of Industry sponsored Chairs, Scholarships, Fellowships, laboratories at institutes in Chandigarh region, etc. The Board will also organize Industry-Academia Collaborative Workshops/ Seminars/ Conferences/ Showcasing and Networking Meets, Design competitions etc. to evolve new ideas and support the best for addressing industrial challenges and setting up Start Up, Entrepreneurship and Skill development programmes.

Prof Arun Kumar Grover, Vice Chancellor, Panjab University, Chandigarh and President Governing Body, CRIKC, said, n++Linkages must be formed between government, industry and institutions for exchange of best practices and training for students, especially in medical education. Industry and academia can implement new age ideas such as interchangeability of roles like in foreign nations. There is a need to align industry manpower needs with the skilling initiatives underway and improve the employability of the working population. We need to adopt a more practical and applied approach to boost the value of todays higher education system and most importantly help prepare students for life after class.n++

Dr Dinesh Dua, Chairman, Regional Committee on Higher Education, CII Northern Region & Immediate Past Chairman, CII Chandigarh Council & CEO & Director, Nectar Lifesciences Ltd, said, n++With bold & dynamic initiatives of Honble Prime Minister of India, Shri Narendra Modi for Make in India, Skill India & Digital India, there is greater emphasis on Industry - Academia Collaboration as a pathway to innovation to spearhead invention which will directly guide industry both ways to excel particularly in the field of Make in India. Academia is at the centre of developing trends. However, there is a gap between universities and industry that needs to be bridged by academia and professionals as individuals and as a community of practitioners. Understanding the importance of knowledge cluster, CII desires to work in tandem with CRIKC. Such an alliance will boost the R&D of industries and also help in enhancing the educational skills of their employees. CII strongly believes that the country cannot achieve the universalization of education without the efforts of the private sector.n++

Mr Rohit Grover, Chairman, CII Chandigarh Council and Director, JREW Engineering Ltd, said, n++It is imperative to facilitate greater interactions between the education institutes and corporates and make students job-ready before being inducted into the corporate world. As corporates are best positioned to understand the specific needs of each sector, there is a significant opportunity for Corporate-Institute collaboration which can maximise value output for all - students, corporate and institutes. CII has decided to undertake this initiative with CRIKC to ensure that we take this initiative forwards systematically & in a sustained manner.

Mr Babu Khan, Regional Director, CII Northern region, said, n++This MoU between CII and CRIKC on Industry-Academia Partnership is the next step in strategizing the interdependent processes and crafting employable youth.n++

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Sintex Industries leads gainers in A group
Jul 13,2017

Sintex Industries jumped 12.88% to Rs 33.30 at 13:43 IST. The stock topped the gainers in the BSEs A group. On the BSE, 1.29 crore shares were traded on the counter so far as against the average daily volumes of 29.90 lakh shares in the past two weeks.

Network18 Media & Investments surged 10.29% at Rs 56.80. The stock was second biggest gainer in A group. On the BSE, 14.26 lakh shares were traded on the counter so far as against the average daily volumes of 1.49 lakh shares in the past two weeks.

TV18 Broadcast advanced 7.26% to Rs 40.65. The stock was third biggest gainer in A group. On the BSE, 27.24 lakh shares were traded on the counter so far as against the average daily volumes of 3.97 lakh shares in the past two weeks.

KEC International gained 6.35% at Rs 295.40. The stock was fourth biggest gainer in A group. On the BSE, 4.65 lakh shares were traded on the counter so far as against the average daily volumes of 1.01 lakh shares in the past two weeks.

City Union Bank rose 4.95% to Rs 174.85. The stock was fifth biggest gainer in A group. On the BSE, 43,000 shares were traded on the counter so far as against the average daily volumes of 3.43 lakh shares in the past two weeks.

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Virgo Global announces resignation of company secretary and compliance officer
Jul 13,2017

Virgo Global announced the resignation of Sakshi Mathur from the post of Company Secretary and Compliance Officer with immediate effect. The Board approved the resignation at meeting held on 13 July 2017.

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India is emerging as a front runner in the global fight against climate change-World Bank
Jul 13,2017

With 1.3 billion people, India is the worlds third largest consumer of electricity. Over 450 million ceiling fans are in use and 40 million sold each year, but 240 million people still have no legal electricity connection. Demand for electricity is growing at the same rate as in France or Germany as millions of people in rural or impoverished areas seek access to power in their homes and workplaces.

With a sweeping commitment to solar power, innovative solutions and energy efficiency initiatives to supply its people with 24x7 electricity by 2030, India is emerging as a front runner in the global fight against climate change.

The World Bank is committed to supporting Indian++n++s solar energy push. The Bank is providing more than $1 billion to support Indian++n++s solar plans, starting with a Grid Connected Rooftop Solar project that aims to put solar panels on rooftops across the country, and 100MW of energy has already been financed through this project. Exactly a year ago, on June 30, 2016, the institution signed an agreement with the International Solar Alliance (ISA), consisting of 121 countries led by India, to collaborate on increasing solar energy use around the world and mobilize $1 trillion in investments by 2030.

With its conscious choice to use significantly more clean energy to fuel its growth, India is contributing to global efforts to save the planet from the effects of climate change. Just a few weeks ago, the country also walked away from plans to install nearly 14 GW of coal-fired power plants, largely because it is as affordable now to generate electricity with solar power as it is to use fossil fuels.

In India and beyond, solar power is starting to displace coal as an energy source. The cost of electricity from solar photovoltaic (PV) is currently a quarter of what it was in 2009 and is set to fall another 66% by 2040. That means, a dollar will buy 2.3 times as much solar energy in 2040 than it does today.With nearly 300 days of sunshine every year, India has among the best conditions in the world to capture and use solar energy. Clearly, the market agrees, as is evident from the significant drop in the cost of solar power. In its latest solar auction, the country achieved a record low tariff of INR 2.44/unit (4 cents/unit) for a project in the desert state of Rajasthan.

The Indian government is setting ambitious targets that include 160 gigawatts (GW) of wind and solar by 2022. Not only will this help hundreds of million people light their homes it will also enable children to study at night, provide families with refrigerators to preserve their food or TVs to entertain themselves after a long day of work. It is also an incentive for international firms to invest in Indias solar market.

The Bank is also working with India on solar parks, innovative solutions to store solar power and support for mini grids. The institutionn++n++s backing will increase the availability of private financing, introduce new technologies, and enable the development of common infrastructure to support privately developed solar parks across India.

The World Bank financing, routed through State Bank of India (SBI), is the first time that a dedicated institutional financing has been made available for rooftop solar power plants, Sanjeev Aggarwal, Founder and MD& CEO of Amplus Solar. This financing will help in expeditious adoption of distributed solar by Indian consumers and will act as a significant catalyst for the growth of the rooftop solar sector in India. We will continue to work with World Bank and SBI to create innovative credit structures so that benefits of this attractive financing scheme will reach the maximum number of consumers.

In turning to solar, India has sought creative solutions to challenges such as limited land availability to host solar panels for a rapidly growing population. It must go beyond what Morocco has done, for instance, with its concentrated solar power that requires large tracts of land to set up giant mirrors and lenses. So, in addition to its solar parks, India is installing solar panels on rooftops and floating solar platforms on rivers and other bodies of water. It also has ambitious plans to only sell electric cars by 2030.

Indias greenhouse gas emissions are predicted to keep increasing at least until 2030 n++V something it is working hard to change with serious energy efficiency measures.

The Bank is also supporting Indias UJALA program, through which the country has distributed more than 241 million LED bulbs, making it the largest and the first zero-subsidy national LED lighting program in the world. Residential consumers can get LED bulbs from UJALA distribution centers or through participating retailers and pay upfront or in smaller installments, which make the bulbs more accessible for poorer customers.

The program has helped save more than 6,000 MW of energy and resulted in a 25-million ton reduction in CO2 emissions per year. India plans to replace all of its 770 million incandescent bulbs with LEDs by 2019.

Other countries in the region are also adopting clean energy measures with support from the Bank.

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Jaypee Infratech director resigns
Jul 13,2017

Jaypee Infratech announced that Anand Bordia has resigned from the Directorship of the Company with effect from 13 July 2017.

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Videocon extends recent rally
Jul 13,2017

Meanwhile, the S&P BSE Sensex was up 211.08 points or 0.66% at 32,015.90. The S&P BSE Small-Cap index rose 65.08 points or 0.41% at 15,962.09.

On the BSE, 18,000 shares were traded on the counter so far as against the average daily volumes of 2.73 lakh shares in the past one quarter. The stock opened with an upward gap of 5% and remained locked at that level at Rs 31.95 so far during the day. The stock had hit a 52-week high of Rs 114.90 on 6 October 2016 and a 52-week low of Rs 16.35 on 27 June 2017.

The stock had outperformed the market over the past one month till 12 July 2017, advancing 12.15% compared with the Sensexs 2.28% rise. The stock had, however, underperformed the market over the past one quarter, declining 70.64% as against the Sensexs 7.29% rise. The scrip had also underperformed the market over the past one year, sliding 70.76% as against the Sensexs 14.37% rise.

The small-cap company has equity capital of Rs 334.46 crore. Face value per share is Rs 10.

Shares of Videocon Industries have surged 85.75% in thirteen straight trading sessions to its current market price, from its close of Rs 17.20 on 23 June 2017.

Prior to the latest rally, the stock had nosedived a whopping 82.88% in 25 trading sessions in a row to settle at Rs 17.20 on 23 June 2017, from its close of Rs 100.45 on 19 May 2017, on loan repayment default worries.

Last month, reports suggested that the Central Bank of India declared the company as a non-performing asset (NPA) in Q1 June 2017. Central Bank of India has one of the highest exposures to Videocon at Rs 2700 crore, reports added.

Later, Dena Bank had announced that it had classified Videocons loan amounting to Rs 520 crore as a NPA. Few other banks including Punjab National Bank (PNB) had also followed suit in declaring Videocons loan as NPA, reports suggested.

Meanwhile, the company had on 6 July 2017 issued a clarification to the stock exchanges with regard to media news titled n++Videocon Telecom forays into security, surveillance with CCTV cameran++. Videocon Industries stated that its subsidiary Videocon Telecommunication (VTL) keeps evaluating various business opportunities for the purpose of expansion and diversification of its activities and it may consider entry into the security and surveillance with CCTV camera. There is no material impact on the company as VTL has not formally entered/adopted the new business, Videocon said.

Videocon Industries reported loss of Rs 547.73 crore in the quarter ended March 2017, higher than net loss of Rs 189.59 crore in the quarter ended March 2016. Net sales declined 28.3% to Rs 1985.85 crore in the quarter ended March 2017 over the quarter ended March 2016.

Videocon Industries operates in consumer electronics and home appliances, crude oil and natural gas.

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