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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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Tata Power Company signs Distribution Franchisee Agreement with Ajmer Vidyut Vitran Nigam
Jun 08,2017

Tata Power Company announced that it has signed a Distribution Franchisee Agreement with Ajmer Vidyut Vitran Nigam to cater to the power requirements of customers in Ajmer for a period of 20 years.

To serve the purpose, Tata Power has formed a special purpose vehicle - TP Ajmer Distribution, which will be responsible for operating and maintaining the distribution network in Ajmer City. It will also be responsible for managing the billing and collections.

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Ramco Systems launches Japan Payroll software
Jun 08,2017

Ramco Systems announced the launch of Japan Payroll software on its Global Payroll engine. The highly configurable payroll solution available in both English and Japanese languages comes with capability to handle social and labour insurance contributions for all states, resident tax and reporting, bonus tax, among others.

Complete with chatbots, simplified User Experience, and an intelligent ln-memory based engine which identifies, suggest and resolves errors; Ramco Global Payroll has compliance across 40+ countries and comesintegrated with Core HR, Time & Attendance, Talent Management, Recruitment and Analytics.

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Government keen to support indigenous, affordable e-mobility solutions for intra-city transportation
Jun 08,2017

The Government of India is promoting e-mobility by working towards adopting indigenous and affordable e-mobility solutions which are sustained by an economic model.

Mr Abhay Damle, Joint Secretary (Transport), Ministry of Road Transport and Highways, Government of India, highlighted the importance of building Indias transportation and logistics infrastructure for future mobility. He stated that Indian cars produce less pollution compared to trucks and buses, which travel an average 200 km per day and while comprising 2.5% of vehicles, consume 65% of fuel and emit about 70% NOx and SOx. Therefore, the e-mobility industry should focus on converting high mileage vehicles into electrical.

Prof Ashok Jhunjhunwala, Principal Advisor, Minister of Power and New & Renewable Energy, Government of India said that globally electric vehicles are promoted with huge subsidies, which is not feasible for India. He said innovative techniques should offset high battery prices, concessional GST and road-tax for three years. Battery swapping& charging, module-based battery design, developing business opportunities for battery ownership, etc. can alleviate battery costs. In the first stage, 4 wheelers, city buses and 3-wheelers may see a launch in Oct-Nov2017. Electricity from renewables will be primary source for EVs.

Speaking on Indias biofuels mandate, Mr Y B Ramakrishna, Chairman - Working Group on Biofuels, Ministry of Petroleum and Natural Gas said that biofuels can mitigate climate change and secure Indias energy by replacing upto 30 per cent generation from fossil fuels. The Government is implementing policies to promote sustainable conversion technologies to produce blended fuels like bio-ethanol, bio-diesel and biogas, and India is already leading in technology to produce second generation ethanol. He said that issues like underutilization of production capacity and feedstock supply and cost need to be resolved.

Emphasing an India-specific policy, Dr Suddhasatwa Basu, Professor, Chemical Engineering, IIT Delhi said that a clear policy roadmap is required to run over 10 billion electric cars over the next decade.

Mr P K Banerjee, Deputy Executive Director (Tech.), SIAM said that four main forces will drive the mobility sector: consumer need, move from connected to autonomous mobility, infrastructure, and management of old vehicles including recycling.

Ms Soma Banerjee, Principal - Energy & Infrastructure, CII, said that with growing urban population and increasing pollution, India must choose between public and private vehicles. Government policy should encourage citizens and Industry to move towards public vehicles, taking into account energy efficiency and global market conditions. Also, given Indias diversity, it would need a combination of biofuels, renewables, electricity and cleaner fossil fuelsto serve its future mobility needs.

Ms Mansi Tripathy, Managing Director, Shell Lubricants India, said that India needs multivariant e-mobility solutions which are affordable and customised to the Indian market. Despite challenges to the last mile connectivity, such as charging points and urban infrastructure, industry including OEMs are fully committed to realising the national vision.

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TAJGVK Hotels & Resorts declines on profit booking
Jun 08,2017

Meanwhile, the S&P BSE Sensex was down 54.83 points, or 0.18% at 31,216.45. The S&P BSE Small-Cap index was up 55.23 points, or 0.36% at 15,481.09.

High volumes were witnessed on the counter. On the BSE, 53,000 shares were traded on the counter so far as against the average daily volumes of 18,623 shares in the past one quarter. The stock had hit a high of Rs 182 and a low of Rs 166.85 so far during the day. The stock had hit a 52-week high of Rs 184 on 25 April 2017 and a 52-week low of Rs 92.55 on 21 November 2016.

The stock had outperformed the market over the past one month till 7 June 2017, advancing 6.52% compared with the Sensexs 4.73% rise. The scrip had also outperformed the market over the past one quarter gaining 38.88% as against the Sensexs 7.83% rise. The scrip had also outperformed the market over the past one year advancing 69.34% as against the Sensexs 15.78% rise.

The small-cap company has equity capital of Rs 12.54 crore. Face value per share is Rs 2.

TAJGVK Hotels & Resorts had rallied 17.75% in the preceding two trading sessions to settle at Rs 176.45 yesterday, 7 June 2017, from its closing of Rs 149.85 on 5 June 2017.

TAJGVK Hotels & Resorts net profit fell 86.5% to Rs 0.78 crore on 5% decrease in net sales to Rs 73.43 crore in Q4 March 2017 over Q4 March 2016.

TajGVK Hotels & Resorts is a joint venture, formed through a strategic alliance, between the Indian Hotels Company (IHCL) and the Hyderabad based GVK Group.

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HDIL tumbles on getting property possession notice from bank
Jun 08,2017

Meanwhile, the S&P BSE Sensex was down 53.09 points, or 0.17% to 31,218.19.

On the BSE, 30.18 lakh shares were traded in the counter so far, compared with average daily volumes of 22.66 lakh shares in the past one quarter. The stock had hit a high of Rs 92.30 and a low of Rs 88.30 so far during the day. The stock hit a 52-week high of Rs 108.75 on 12 July 2016. The stock hit a 52-week low of Rs 52.25 on 27 December 2016.

The stock had underperformed the market over the past one month till 7 June 2017, falling 4.22% compared with 4.47% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 30.23% as against Sensexs 8.10% rise. The scrip had underperformed the market in past one year, falling 4.12% as against Sensexs 15.73% rise.

The mid-cap company has equity capital of Rs 434 crore. Face value per share is Rs 10.

According to reports, Housing Development and Infrastructure (HDIL) owes Rs 144 crore loan amount to Central Bank of India. It failed to repay, and the bank has taken symbolic possession of its property in Kurla West. While the bank says it is carrying out the procedures required under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, HDIL has called it a technical default.

Meanwhile, HDIL clarified during trading hours today, 8 June 2017, that it received the possession notice from the Central bank of India on account of non-performing assets (NPA) due to technical reasons. The company has written to the Central bank of India for closure of the said loan and reply is awaited.

HDILs consolidated net profit rose 28% to Rs 60.88 crore on 61.62% decline in net sales to Rs 129.51 crore in Q4 March 2017 over Q4 March 2016.

HDIL is a real estate development company, with significant operations in the Mumbai Metropolitan Region.

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NHAI working on widening NH-21 : Project to cut journey time to Kullu-Manali, Leh, bring prosperity to Himachal
Jun 08,2017

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has approved the four laning of Pandoh Bypass to Takoli section of National Highway (NH)-21 in Himachal Pradesh. This is a sub project  of the National Highways Authority of Indias larger project for four laning of NH-21 from Kiratpur in Punjab to Manali in Himachal Pradesh. The other four sub- projects of this project  include Kiratpur-Nerchowk, Nerchowk-Pandoh, Takoli-Kullu and Kullu-Manali. Work on three of the sub-projects is already going on, and is likely to start shortly for the fourth sub project.  Completion of  all five sub projects will provide all weather connectivity to important tourist destinations like  Kullu and  Manali and further upto Leh.

 The cost of the Pandoh-Takoli sub project approved today is  estimated to be Rs.2775.93 crore including cost of land acquisition, resettlement and rehabilitation and other pre-construction activities. The total length of the road to be developed is approximately 19 kms.

This work will be done under National Highways Development Project (NHDP) Phase IV B on Hybrid Annuity Mode.

The four laning of NH 21 from Kiratpur to Manali  will provide all weather connectivity to important tourist destinations i.e. Kullu & Manali and further upto Leh. This will help in reduction in accidents and saving of precious human lives due to construction of tunnels in the accident prone land slide areas. The distance from Kiratpur to Manali will get reduced by 38 km, resulting in a time saving  of approximately three hours. This will result in huge saving in terms of fuel consumption and wear and tear cost of vehicles.The project will generate huge employment to the locals residing along the project length which will also help them in getting in job opportunities in future. It has been estimated that a total number of 4,076 mandays are required for construction of one kilometre of highway. As such, employment potential of 77,000 (approx.) mandays will be generated locally during the construction period of the Pandoh-Takoli section alone. The completion of the project will bring all round development and prosperity in the state of Himachal Pradesh.

NHAI is also executing the four laning of NH-22 from Parwanoo to Shimla (including Shimla Bypass). The length of this project is 89.71 km and the cost is Rs. 2739 cr. The work has already been started in the stretch from Parwanoo to Solan. The project construction from Solan to Shimla is likely to commence shortly.

The DPR preparations for four laning of following projects have also been undertaken by the NHAI: 

Sl No.

Section of NH

Stretch in km.

Approximate cost of project.

1

HP/Punjab border to Mandi

km 11.00 to km 208.00
(Length: 197 km)

Rs.4432.50 cr.

2

Pinjor Bypass -Nalagarh

km 00.00 to km 35.00
(35 km)

Rs.405.00 cr.

3

Shimla -Mataur

km 0.00 to km 223.070
(Length: 223.070 km)

Rs.4905 cr.

The construction of above projects will help uplift the socio-economic condition of this region of the state of Himachal Pradesh. It will further enhance the employment potential for the local labourers for the project activities in highways and tunnel constructions.

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Deep Industries slumps on getting show cause notice from ONGC
Jun 08,2017

The announcement was made during trading hours today, 8 June 2017.

Meanwhile, the S&P BSE Sensex was down 8.39 points, or 0.03% to 31,262.89.

On the BSE, 1.73 lakh shares were traded in the counter so far, compared with average daily volumes of 1.81 lakh shares in the past one quarter. The stock had hit a high of Rs 306 and a low of Rs 256 so far during the day. The stock hit a record high of Rs 343.70 on 30 March 2017. The stock hit a 52-week low of Rs 162.05 on 24 June 2016.

The stock had underperformed the market over the past one month till 7 June 2017, falling 5% compared with 4.47% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 0.13% as against Sensexs 8.10% rise. The scrip had, however, outperformed the market in past one year, rising 64.55% as against Sensexs 15.73% rise.

The small-cap company has equity capital of Rs 32 crore. Face value per share is Rs 10.

Deep Industries said it has received the show cause notice from ONGC pertaining to certain allegations made in respect of ongoing contracts. The company has sought various documents from ONGC based on which allegations are made. ONGCs response is still awaited on the same.

Deep Industries clarified that it is pioneer company in Indian oil & gas services business for last three decades and maintains highest level of integrity in its business conduct while serving clients across varied services both in public and private space.

The company said it believes that the allegations made in show cause notice are baseless. It is in process of replying to show cause notice and contesting all the allegations made therein.

Net profit of Deep Industries rose 81.20% to Rs 23.23 crore on 36.48% rise in net sales to Rs 74.90 crore in Q4 March 2017 over Q4 March 2016.

Deep Industries is engaged in business of oil and gas services, exploration and production.

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Strides Shasun gets reaffirmation in long term issuer ratings
Jun 08,2017

Strides Shasun announced that India Ratings & Research has affirmed Strides Shasuns Long-Term Issuer Rating at IND A. The Outlook is Stable.

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Florence Investech receives approval of MoCA for shifting registered office
Jun 08,2017

Florence Investech has received sanction from the Ministry of Corporate Affairs for shifting of registered office from NCT of Delhi to the State of West Bengal vide its Order dated 7 June 2017.

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Phillips Carbon Black gets credit ratings for bank facilities and CP issue
Jun 08,2017

Phillips Carbon Black has received revision in credit ratings for bank facilities aggregating Rs 2468 crore and for commercial paper issue of Rs 50 crore from CARE as under -

Long term bank facilities (Rs 618 crore)- CARE A+; Stable
Long / short term bank facilities (Rs 1850 crore) - CARE A+; Stable/ CARE A1+
Commercial paper issue (Rs 500 crore) - CARE A1+ (Reaffirmed)

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Firstobject Technologies secures order for implementing digital content
Jun 08,2017

Firstobject Technologies has received an order from Kamareddy District Authorities of Government of Telangana to implement Telangana State Board content in its 242 Institutions. As per the work order, Firstobject has to provide Telangana State Boards both English and Telugu Mediums digital content for classes III- X in its Institutions.

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Omkar Speciality Chemicals fixes record date for scheme of arrangement
Jun 08,2017

Omkar Speciality Chemicals has fixed 13 June 2017 as the Record Date for the purpose of determining shareholders of Omkar Speciality Chemicals to whom equity share of Lasa Supergenerics (Resulting Company) shall be allotted pursuant to the scheme.

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Volumes jump at Petronet LNG counter
Jun 08,2017

Petronet LNG clocked volume of 9.61 crore shares by 13:31 IST on BSE, a 1029.36-times surge over two-week average daily volume of 93,000 shares. The stock lost 3.09% to Rs 426.50.

Sinclairs Hotels notched up volume of 3.71 lakh shares, a 136.92-fold surge over two-week average daily volume of 3,000 shares. The stock jumped 9.78% to Rs 338.

Jammu & Kashmir Bank saw volume of 25.97 lakh shares, a 48.58-fold surge over two-week average daily volume of 53,000 shares. The stock gained 2.54% to Rs 84.65.

Sanofi India clocked volume of 15,000 shares, a 44.22-fold surge over two-week average daily volume of 344 shares. The stock shed 0.88% to Rs 4,040.

Motilal Oswal Financial Services saw volume of 7.13 lakh shares, a 38.20-fold rise over two-week average daily volume of 19,000 shares. The stock slipped 0.26% to Rs 1,130.

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Unimode Overseas fixes record date for reduction of equity share capital
Jun 08,2017

Unimode Overseas announced that for giving effect to the Reduction of Paid-up Share Capital of the Company, duly approved by Principal Bench National Company Law Tribunal at New Delhi, the Company has fixed Thursday, 22 June 2017 as the Record Date.

Accordingly, with effect from the record date, the existing issued, subscribed and fully paid-up equity share capital of the Company shall be reduced to the extent of 90%. Consequently, pursuant to reduction, the Paid-up Equity Share Capital shall stand reduced to Rs. 50,10,507/- (comprising of 50,10,507 Equity Shares of face value of Rs. 1/- each).

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Board of Sarda Energy & Minerals recommends final dividend
Jun 08,2017

Sarda Energy & Minerals announced that the Board of Directors of the Company at its meeting held on 6 June 2017, inter alia, have recommended the final dividend of Rs 4 per equity Share (i.e. 40%) , subject to the approval of the shareholders.

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