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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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Ashiana Housing standalone net profit rises 32.47% in the September 2016 quarter
Nov 18,2016

Net profit of Ashiana Housing rose 32.47% to Rs 21.99 crore in the quarter ended September 2016 as against Rs 16.60 crore during the previous quarter ended September 2015. Sales rose 52.23% to Rs 109.42 crore in the quarter ended September 2016 as against Rs 71.88 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales109.4271.88 52 OPM %26.0319.67 - PBDT35.0122.83 53 PBT33.0420.84 59 NP21.9916.60 32

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Board of NHPc approves raising funds of Rs 2250 crore by private placement of bonds
Nov 18,2016

The Board of Directors of NHPC at its meeting held on 18 November 2016 has approved the proposal for raising of Rs 2250 crore through issuance of V Series Corporate Bonds on private placement basis which is out of the Rs 4500 crore already approved by the shareholders in the 40th AGM held on 22 September 2016.

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Godawari Power & Ispat to announce September quarter and half year results
Nov 18,2016

Godawari Power & Ispat announced that a meeting of the Board of Directors of the Company is scheduled to be held on 25 November 2016, inter alia, to consider and approve the Un-audited Standalone Financial Results of the Company for the quarter and half year ended 30 September 2016.

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NTPC intimates of directives from Delhi Pollution Control Committee
Nov 18,2016

NTPC announced that Delhi Pollution Control Committee (DPCC) has further directed NTPC to keep all units of Badarpur Thermal Power Station (BTPS) closed till 31 January 2017.

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Canara Bank advances after revising deposit interest rates
Nov 18,2016

The announcement was made after market hours yesterday, 17 November 2016.

Meanwhile, the S&P BSE Sensex was down 51.55 points or 0.22% at 26,170.77.

On BSE, so far 1.93 lakh shares were traded in the counter as against average daily volume of 3.41 lakh shares in the past one quarter. The stock hit a high of Rs 329.80 and a low of Rs 323.75 so far during the day. The stock had hit a 52-week high of Rs 339.20 on 5 October 2016. The stock had hit a 52-week low of Rs 156.20 on 29 February 2016. The stock outperformed the market over the past one month till 17 November 2016, gaining 6.08% compared with 4.73% decline in the Sensex. The scrip also outperformed the market in past one quarter, rising 24.57% as against Sensexs 6.35% decline.

The large-cap PSU bank has equity capital of Rs 542.99 crore. Face value per share is Rs 10.

Canara Banks net profit fell 32.5% to Rs 356.91 crore on 2.3% decline in total income to Rs 12187.12 crore in Q2 September 2016 over Q2 September 2015.

The Government of India held 66.3% stake in Canara Bank as per the shareholding pattern as on 30 September 2016.

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Canara Bank advances after revising deposit interest rates
Nov 18,2016

The announcement was made after market hours yesterday, 17 November 2016.

Meanwhile, the S&P BSE Sensex was down 51.55 points or 0.22% at 26,170.77.

On BSE, so far 1.93 lakh shares were traded in the counter as against average daily volume of 3.41 lakh shares in the past one quarter. The stock hit a high of Rs 329.80 and a low of Rs 323.75 so far during the day. The stock had hit a 52-week high of Rs 339.20 on 5 October 2016. The stock had hit a 52-week low of Rs 156.20 on 29 February 2016. The stock outperformed the market over the past one month till 17 November 2016, gaining 6.08% compared with 4.73% decline in the Sensex. The scrip also outperformed the market in past one quarter, rising 24.57% as against Sensexs 6.35% decline.

The large-cap PSU bank has equity capital of Rs 542.99 crore. Face value per share is Rs 10.

Canara Banks net profit fell 32.5% to Rs 356.91 crore on 2.3% decline in total income to Rs 12187.12 crore in Q2 September 2016 over Q2 September 2015.

The Government of India held 66.3% stake in Canara Bank as per the shareholding pattern as on 30 September 2016.

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Edelweiss Financial gains after selling step down subsidiary
Nov 18,2016

The announcement was made after market hours yesterday, 17 November 2016.

Meanwhile, the S&P BSE Sensex was up 10.48 points or 0.04% at 26,238.10.

On BSE, so far 1.7 lakh shares were traded in the counter as against average daily volume of 3.84 lakh shares in the past one quarter. The stock hit a high of Rs 95.30 and a low of Rs 91 so far during the day. The stock had hit a 52-week high of Rs 129.10 on 20 October 2016. The stock had hit a 52-week low of Rs 44.40 on 12 February 2016. The stock underperformed the market over the past one month till 17 November 2016, sliding 21.49% compared with 4.73% decline in the Sensex. The scrip also underperformed the market in past one quarter, falling 9.63% as against Sensexs 6.35% decline.

The mid-cap company has equity capital of Rs 82.89 crore. Face value per share is Re 1.

Edelweiss Financial Services announced that Edel Commodities (ECL), a wholly owned subsidiary of the company entered into a share sale & purchase agreement with Inditrade Business Consultants (IBCL) yesterday, 17 November 2016 for sale of its wholly owned subsidiary namely Edel Commodities Trading (ECTL) for a deal size of minimum of Rs 13 crore receivable in cash and shares.

IBCL is a subsidiary of Inditrade Capital with focus on commodity procurement, financing and export of commodities. It operates in 7 states and is rapidly scaling up its operations in India and abroad. The transactions are not with the promoter/promoter group and also does not fall under the related party transactions.

Consequent to the transaction, ECTL, Edelweiss Commodities CHAD SARL and Edelweiss Commodities Nigeria, the subsidiaries of ECTL, ceases to be the subsidiaries of ECL and, in turn of the company.

On a consolidated basis, Edelweiss Financial Services net profit rose 30.4% to Rs 183.12 crore on 25.4% growth in net sales to Rs 1216.12 crore in Q2 September 2016 over Q2 September 2015.

Edelweiss Financial Services offers a range of products and services spanning retail finance, debt capital markets, commodities, financial markets, asset management and life insurance.

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GST Offers Industries an Opportunity to Reboot
Nov 18,2016

India Ratings and Research (Ind-Ra) believes that the four-rate tax slabs of 5%, 12%, 18% and 28% in GST would have a bearing on the profitability of most industries. Further, additional cess on some of the products, if absorbed by the respective businesses, would impact their margins.

GST would benefit industry as it would eliminate the cascading impact of taxes and allow unrestricted flow of input tax credit, and lower the compliance cost through simple tax regime as against the current multiple tax slabs and laws. In general, industries currently subject to taxes at a rate higher than the rates proposed in the GST Act would benefit and see margin expansions and improvements in their working capital, while those subject to a tax rate lower than the GST rates may face challenges on the margin front and increased working capital requirements.

Ind-Ra also believes that the service industries would see an increase in tax rates for most services under the new GST regime, which might have a bearing on the margins and the working capital cycle. Further, factors such as abatements, concessional duty structure, and area-wise exemptions, if not continued under GST, would have a significant bearing on the profitability of many industries.

Industries that would benefit from lower GST tax rates include cement and auto manufacturers, while those that could be impacted negatively due to GST include the cotton and downstream value chain and apparel segment of the textile industry and print media, which are currently either tax exempted or subject to concessional rates of taxes.

Abatement of tax, if not continued under the GST regime, would have a bearing on the profitability of logistics and real estate industries, while the impact on the infrastructure industry with high value contracts spanning across years would have to be assed contract-wise. Within the infrastructure industry, contracts in project phase can face viability issues if they are unable to pass on the increase in cost due to higher taxes or if the government incentives are discontinued under GST.

The central government would compensate for any revenue loss to the state governments during the first five years of the GST regime. The GST council has agreed to factor in the tax exemptions given to the industries in the eight north eastern states and the three hilly states while calculating revenue loss for determining compensation. The governments (both states and central) decision to continue with the area-based exemptions from central and state taxes can also impact the profitability of factories set up in the specified areas based on these exemptions.

The compelling rationale to switch from the current regime to the GST regime is to eliminate the cascading impact of taxes or simply put n++tax on taxn++ which leads to increase in the price of the end product. Other equally important areas which the GST would address are the multiplicity of taxes at central and state levels, leading to cumbersome and cost bearing compliance exercise for businesses, by bringing about uniformity in tax rates and structure.

Since, the input credit would be available only on taxes paid to the central or state government and after an automated reconciliation through an IT infrastructure, users of input supply would insist on tax invoices to claim the input credit, there by plugging the leakage due to non-payment of taxes or n++Kaccha Billsn++ as it is popularly known in India.

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IIFL Holdings attracts buyers after subsidiary acquires microfinance firm
Nov 18,2016

The announcement was made after market hours yesterday, 17 November 2016.

Meanwhile, the BSE Sensex was up 33.79 points, or 0.13%, to 26,261.41.

On BSE, so far 5,462 shares were traded in the counter, compared with average daily volume of 35,847 shares in the past one quarter. The stock hit a high of Rs 256 and a low of Rs 247.95 so far during the day. The stock hit a 52-week high of Rs 339.50 on 28 October 2016. The stock hit a 52-week low of Rs 163.50 on 29 February 2016. The stock underperformed the market over the past one month till 17 November 2016, sliding 6.54% compared with 4.73% decline in the Sensex. The scrip also underperformed the market in past one quarter, falling 13.5% as against Sensexs 6.35% decline.

The mid-cap company has equity capital of Rs 63.42 crore. Face value per share is Rs 2.

IIFL Holdings said that its non-banking financial company (NBFC) subsidiary, India Infoline Finance (IIFL), proposes to acquire the management and control of Bangalore-based Samasta Microfinance (Samasta), through acquisition of upto 100% equity shares, subject to completion of necessary due diligence, regulatory and other internal approvals. Samasta is an NBFC-micro finance institution (NBFC-MFI) registered with the Reserve Bank of India (RBI). Pursuant to this, IIFL, Samasta and the promoters of Samasta will enter into necessary agreements and documents to effect sale and purchase shares of Samasta in due course upon completion of due diligence, internal approvals and regulatory process.

Samasta promoted by Narayanswamy Venkatesh and Deviah Shivaprasad, first generation entrepreneurs, began operations as an MFI in March 2008 and operates in Tamil Nadu, Karnataka, Maharashtra and Goa through 64 branches. It currently has an asset under management (AUM) of about Rs 100 crore as on 30 September 2016. The income of Samasta as on 31 March 2016 was Rs 20.14 crore. The proposed acquisition of Samasta will help IIFL to enter into micro finance segment and extend its wide ranging financial services to their large customer base. IIFL has received an in principle approval from the RBI for acquiring the stake. The indicative time for completion of the acquistion is about 6 months.

IIFL Holdings consolidated net profit rose 30.4% to Rs 183.12 crore on 25.4% increase in net sales to Rs 1216.12 crore in Q2 September 2016 over Q2 September 2015.

IIFL Holdings is the apex holding company of the entire IIFL Group. It offers a gamut of services including financing, wealth and asset management, broking, financial product distribution, investment banking, institutional equities, realty and property advisory services through its various subsidiaries.

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Board of Abbott India to consider HY results
Nov 18,2016

Abbott India announced that a Meeting of the Board of Directors of the Company is scheduled to be held on 28 November 2016, inter alia, to consider and approve the text of Unaudited Financial Results of the Company for the half year ended on 30 September 2016.

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Zee Learn allots equity shares
Nov 18,2016

Zee Learn announced that the ESOP Allotment Sub-Committee of the Company at its meeting held on 18 November 2016 has approved allotment of total 45,000 equity shares consisting of 45,000 Equity Shares of Re.1/- at an exercise price of Rs. 20.85 per Equity Share, under the ZLL ESOP 2010 - AMENDED 2015 Scheme.

Consequent to the above allotment, the paid up share capital of the Company has increased from 320,733,515 equity shares of Re. 1/- each aggregating Rs. 320,733,515 /- to 320,778,515 equity shares of Re. 1/- each aggregating Rs. 320,778,515 /-.

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Infosys partners with UNSILO
Nov 18,2016

Infosys announced that it has made an investment of DKK 14,920,000 from its Innovation Fund in UNSILO, a Danish artificial intelligence startup focused on advanced text analysis. UNSILO uses a unique combination of machine-learning and natural language processing to analyze large quantities of text and improve the speed and effectiveness of knowledgeworkers across many industries.

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Sadbhav Engineering to announce Q2 results
Nov 18,2016

Sadbhav Engineering announced that the meeting of the Board of Directors is scheduled to be held on 28 November 2016, inter alia, to consider and approve the Unaudited Financial Results for the quarter and half year ended 30 September 2016 (Q2).

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CEAT gets upgradation in credit ratings
Nov 18,2016

Ceat announced that India Ratings and Research, a Rating Agency (Ind-Ra), has upgraded the Companys Long-Term Issuer Rating to IND AA from IND AA-. The outlook is Stable. The Companys Short Term Issuer Rating was affirmed at IND A1+.

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Ramco Systems bags order from Schenker AG
Nov 18,2016

Ramco Systems has secured an order from Schenker AG for Ramco HCM & Payroll for an aggregate value of about EUR 7.3 million.

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