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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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Premier Explosives to set up unit to manufacture solid propellant
Apr 05,2017

Premier Explosives announced that Andhra Pradesh Industrial Infrastructure Corporation (APIIC) is provisionally willing to offer 202 acres of land at Routhsurmala village in Chittoor district of Andhra Pradesh for establishing a unit to manufacture Solid Propellant. The company has accepted the offer and will take necessary steps required for firm allotment of land and setting up the said unit.

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Crompton Greaves Consumer Electricals drops after large bulk deal
Apr 05,2017

Meanwhile, the S&P BSE Sensex was down 16.38 points, or 0.05%, to 29,893.84

Bulk deal boosted volume on the scrip. On the BSE, so far 24.59 lakh shares were traded in the counter, compared with average daily volumes of 2.26 lakh shares in the past one quarter. The stock had hit a high of Rs 226.10 and a low of Rs 220.50 so far during the day.

The stock hit a 52-week high of Rs 238.75 on 3 April 2017. The stock hit a 52-week low of Rs 126.20 on 13 May 2016. The stock had outperformed the market over the past 30 days till 3 April 2017, gaining 19.63% compared with Sensexs 3.74% rise. The scrip also outperformed the market in past one quarter, surging 44.27% as against Sensexs 12.26% gain.

The large-cap company has equity capital of Rs 125.35 crore. Face value per share is Rs 2.

Crompton Greaves Consumer Electricals net profit rose 39.29% to Rs 57.36 crore on 9.74% growth in net sales to Rs 888.92 crore in Q3 December 2016 over Q3 December 2015.

Crompton Greaves Consumer Electricals manufactures and markets a wide spectrum of consumer products ranging from fans, light sources and luminaires, pumps and household appliances, such as geysers, mixer grinders, toasters and irons.

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TVS Motor accelerates after posting decent March sales
Apr 05,2017

The announcement was made after market hours on Monday, 3 April 2017.

Meanwhile, the BSE Sensex was down 6.39 points, or 0.02%, to 29,903.83.

On the BSE, 34,680 shares were traded in the counter so far, compared with average daily volumes of 1.1 lakh shares in the past one quarter. The stock had hit a high of Rs 447.80 in intraday trade, which is also a record high for the stock. The stock had hit a low of Rs 438 so far during the day.

The stock had hit a 52-week low of Rs 277.95 on 4 May 2016. The stock had underperformed the market over the past one month till 3 April 2017, gaining 1.36% compared with the Sensexs 3.74% rise. The scrip had, however, outperformed the market over the past one quarter, jumping 15.32% as against the Sensexs 12.26% rise.

The large-cap company has equity capital of Rs 47.51 crore. Face value per share is Re 1.

TVS Motor Company added that total two-wheeler sales increased by 10.7% to 2.5 lakh units in March 2017 over March 2016. Domestic two-wheelers sales grew by 8.4% to 2.16 lakh units in March 2017 over March 2016. Scooter sales of the company grew by 23.5% to 84,173 units in March 2017 over March 2016. Motorcycles sales grew by 10.3% to 95,671 units in March 2017 over March 2016.

Total three-wheeler sales fell 8.72% to 5,362 units in March 2017 over March 2016. Total exports grew 23.6% to 38,462 units in March 2017 over March 2016.

Further, the company informed that it had commenced manufacture and sale of BS IV compliant inventory much before the transition date of 31 March 2017. Consequently, the stocks of BS III compliant products with the dealers were progressively coming down. However, on 29 March 2017 by its order, the Supreme Court of India permitted sale of such BS III emission compliant products only up to 31 March 2017.

Accordingly, the company within the framework provided by the court order extended suitable required support to the dealers to enable them to offer attractive incentive schemes to customers to sell the BS III compliant stocks. The dealers have confirmed that majority of such stocks have been sold by 31 March 2017. The company is assessing the one-time impact of this transition on the financials of the company.

TVS Motor Companys net profit rose 10.4% to Rs 132.67 crore on 3.1% growth in net sales to Rs 2952.85 crore in Q3 December 2016 over Q3 December 2015.

TVS Motor Company is a leading two and three-wheeler manufacturer.

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Indiabulls Ventures hits 52-week high
Apr 05,2017

The announcement was made after market hours on Monday, 3 April 2017.

Meanwhile, the S&P Sensex was down 28.67 points, or 0.1% at 29,881.55. The S&P BSE Small-cap index was up 110.74 points, or 0.76% at 14,730.97.

On the BSE, 74,000 shares were traded on the counter so far as against the average daily volumes of 9.88 lakh shares in the past one quarter. The stock opened with an upward gap of 5% at Rs 64.15, which is also its 52-week high and remained stuck at that level so far.

The stock had hit a 52-week low of Rs 13.10 on 5 April 2016. The stock had outperformed the market over the past one month till 3 April 2017, advancing 69.96% compared with the Sensexs 3.74% rise. The scrip had also outperformed the market over the past one quarter advancing 182.22% as against the Sensexs 12.26% rise.

The small-cap company has equity capital of Rs 64.04 crore. Face value per share is Rs 2.

Indiabulls Ventures said that a meeting of the board of directors of the company is scheduled on Friday, 7 April 2017, to consider and approve preferential issue of equity shares of the company, to certain foreign investors.

Indiabulls Ventures consolidated net profit fell 54.1% to Rs 10.59 crore on 9.6% decline in total income from operation to Rs 96.93 crore in Q3 December 2016 over Q3 December 2015.

Indiabulls Ventures (Formerly Indiabulls Securities) is one of Indias leading capital markets companies providing securities broking and advisory services. Indiabulls Ventures also provides depository services, equity research services to its clients and offers commodities trading through a separate company. These services are provided both through on-line and off-line distribution channels.

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NTPC climbs up after commissioning unit of power project
Apr 05,2017

The announcement was made on Tuesday, 4 April 2017, when the stock markets were shut on account of local holiday.

Meanwhile, the S&P BSE Sensex was down 42.37 points or 0.14% at 29,867.85.

On the BSE, 19,525 shares were traded on the counter so far as against the average daily volumes of 4.36 lakh shares in the past one quarter. The stock had hit a high of Rs 167.20 and a low of Rs 165 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 stock had outperformed the market over the past one month till 3 April 2017, gaining 5.74% compared with the Sensexs 3.74% rise. The scrip had, however, underperformed the market over the past one quarter, dropping 0.48% as against the Sensexs 12.26% rise.

The large-cap company has equity capital of Rs 8245.46 crore. Face value per share is Rs 10.

Further, NTPC said that it has also commissioned its first wind turbine of 2 megawatts (MW) at Rojmal Wind Power Project of 50 MW. With this, the commissioned capacity of NTPC and NTPC group has become 43,534 MW and 50,750 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 on 31 December 2016, as per the shareholding pattern.

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New export order win boosts Ratnamani Metals & Tubes
Apr 05,2017

The company made the announcement after market hours on Monday, 3 April 2017. Stock markets were shut on Tuesday, 3 April 2017 account of local holiday.

Meanwhile, the S&P BSE Sensex was down 24.87 points or 0.08% at 29,885.35. Meanwhile, the S&P BSE Mid-Cap index was up 52.90 points or 0.37% at 14,242.59.

On BSE, so far 6,043 shares were traded in the counter as against average daily volume of 3,642 shares in the past one quarter. The stock hit a high of Rs 800 and a low of Rs 773 so far during the day.

The stock had hit a record high of Rs 809.05 on 29 December 2016. The stock had hit a 52-week low of Rs 445.10 on 7 April 2016. The stock had outperformed the market over the past 30 days till 3 April 2017, gaining 5.01% compared with Sensexs 3.74% rise. The scrip, however, underperformed the market in past one quarter, rising 9.53% as against Sensexs 12.26% gain.

The mid-cap company has equity capital of Rs 9.35 crore. Face value per share is Rs 2.

Ratnamani Metals & Tubes said that the company has bagged new export order of $23.00 million (approximately Rs 150 crore) for supply of carbon steel welded pipes coating to be completed in next 12 months.

Ratnamani Metals & Tubes net profit rose 28.62% to Rs 44.76 crore on 2.08% growth in net sales to Rs 354.05 crore in Q3 December 2016 over Q3 December 2015.

Ratnamani Metals & Tubes is a multi-location, multi-product company, manufacturing tubes & pipes in stainless steel/exotic material and also carbon steel pipes, in wide size ranges, for wide spectrum of applications.

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Ind-Ra: Bond Issuances Gain Traction; Market Conditions a Key to Sustenance
Apr 05,2017

A sharp drop in interest rate coupled with favourable demand-supply dynamics has led to a pick-up in bond issuances during September-February 2017, says India Ratings and Research (Ind-Ra). The pick-up in primary bond market was also associated with low bank credit growth due to widening interest rate differential to bond.

Ind-Ra presents its third edition of Indian Corporate Bond Market Tracker with an aim to present a complete picture of developments in the domestic primary bond market in terms of sectoral composition, rating mix and commercial paper (CP) issuance trends. The study pertains to the private placement of bonds for September 2016 to February 2017.

Ind-Ra believes the sustainability of this trend will be dependent on market conditions in the coming days, due to an absence of any meaningful pick up in the overall demand for credit. As the trend suggests, overall issuances plunged following a rise in yield in February 2017.

Ind-Ra expects large borrower framework to affect conventional bank credit growth in a meaningful way only beyond FY18 owing to muted demand activities in the credit market. Moreover, subsequent to FY18, a larger number of corporates will need to tap bond markets for incremental capex-led growth aspirations as the threshold under the framework will be lowered to INR150 billion.

CP Issuances Remained Stable Bucking the Overall Trends: As opposed to the rise in bond issuances, short-term CP issuances remained sticky. The agency believes that the Reserve Bank of Indias decision on the current liquidity management is likely to realign overnight rate close to repo rate in the near future, which could determine the trajectory of short-term rates. The agency believes, new framework for raising fund through CP is pragmatic, but unlikely to impact overall activities in a meaningful way.

Ind-Ra believes that in an absence of any significant improvement in domestic economic activity, the overall domestic corporate bond issuances is likely to remain slow moving. The agency expects appetite for corporate bonds to remain in place owing to: (1) muted supply; (2) stable economic condition and attractive yields, which could draw higher investor preference, particularly foreign portfolio investors; and (3) an incremental demand from commercial banks in an absence of demand for credit.

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KEC International in demand after new order win
Apr 05,2017

The company made the announcement yesterday, 4 April 2017, when the stock markets were shut on account of local holiday.

Meanwhile, the S&P BSE Sensex was down 54.34 points or 0.18% at 29,855.88

On the BSE, 48,000 shares were traded on the counter so far as against the average daily volumes of 1.13 lakh shares in the past one quarter. The stock had hit a high of Rs 220.85 and a low of Rs 216 so far during the day. The stock had hit a record high of Rs 215.40 on 3 April 2017 and a 52-week low of Rs 111.20 on 9 November 2016.

The mid-cap company has equity capital of Rs 51.42 crore. Face value per share is Rs 2.

KEC International said that of the total new orders of Rs 1781 crore, the companys transmission & distribution business secured orders worth Rs 1702 crore and cables business received orders of Rs 79 crore.

Vimal Kejriwal, MD & CEO, KEC International, said, the latest orders have significantly strengthened the companys international order book especially in the Middle East and Africa.

On a consolidated basis, KEC Internationals net profit surged 139.02% to Rs 62.60 crore on 7.49% fall in net sales to Rs 1882.44 crore in Q3 December 2016 over Q3 December 2015.

KEC International is a global infrastructure engineering, procurement and construction (EPC) major. It has presence in the verticals of power transmission and distribution, cables, railways, renewables and civil.

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NIIT Technologies receives part payment of Rs 41.9 cr
Apr 05,2017

NIIT Technologies has received a part payment amounting to Rs 41.9 crore under a settlement agreement. This will result in a revenue recognition of Rs 27.1 crore for services contracted, and reversal of provisions amounting to Rs 13.15 crore in the financial statement of the Company for FY 2017.

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Shares of Relstruct Buildcon get listed
Apr 05,2017

The equity shares of Relstruct Buildcon (Scrip Code: 540426) are listed effective 05 April 2017 and admitted to dealings on the Exchange in the list of M Group Securities.

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Shares of Shankara Building Products get listed
Apr 05,2017

The equity shares of Shankara Building Products (Scrip Code: 540425) are listed effective 05 April 2017 and admitted to dealings on the Exchange in the list of B Group Securities.

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Data security, storage and privacy policy to ensure smooth transition to Industry 4.0 and smart manufacturing
Apr 05,2017

Mr. Ramesh Abhishek, Secretary, Department of Industrial Policy and Promotion, Government of India, has emphasized that digital economy was critical for India to make government services and welfare benefits accessible to remote areas of the country seamlessly. He said that for smooth transition to Industry 4.0 and smart manufacturing, the government was working on a policy, which addresses issues such as data security, data storage and privacy.

Mr. Abhishek said that to provide last-mile connectivity in far-flung areas, the government has expedited the process of connecting 150000 gram panchayats with broadband services.

Highlighting various initiatives of the Government of India, Mr. Abhishek said that India clocked the highest FDI last year and in 2017 has already surpassed the numbers of 2016. The ease of doing business and transparency in transactions were being brought about in business and trade.

Mr. Yaduvendra Mathur, Additional Secretary, NITI Aayog, said that by December 2017 all government agencies would adopt digital way of transacting. The digital way of living and the mass movement to move towards digitization would ensure inclusive growth. He added that the government was working towards increasing the number of digital payments substantially in 2017 by creating appropriate policies and infrastructure.

Mr. Mathur said that ICC should work towards facilitating seamless trade finance across the globe as lack of such finance was hurting businesses. He added that ICC and FICCI should also engage in augmenting the number of arbitrators in India and develop capabilities to strengthen Indias arbitration system.

Speaking about ICC and digital economy, Mr. Christiaan van der Valk, Co-Founder and President, TrustWeaver and Vice Chair, ICC Digital Economy Commission, said ICCs approach to advancing the global development of the digital economy and stable growth of ICTs combines policy and regulatory advocacy, along with the promotion of best practices aimed at business and governments alike. He added that the United Nations (UN) General Assembly has granted Observer Status to the International Chamber of Commerce (ICC), which had sent a powerful signal that the UN recognizes business as a vital partner.

Mr. Subhrakant Panda, President, ICC India, said that ICCs unique global network spans over 6.5 million members in more than 130 countries and this makes ICC the only business organization as the representative of every facet of business.

Leaders from more than 50 countries help businesses to comply with policy, legal and regulatory framework. He added that ICC was working towards ensuring stable functioning and sustainable and inclusive growth of the digital world.

Dr. A Didar Singh, Secretary General, FICCI, said that trade facilitation and trade finance were two areas that needed ICCs attention and added that linkage between digitalization and trading environment should be created. He assured FICCIs active support to ICC in this regard.

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Shankara Building Products in focus on debut
Apr 05,2017

Shares of Shankara Building Products will debut on the bourses today, 5 April 2017. The initial public offer (IPO) of Shankara Building Products received bids for 22.17 crore shares compared to 52.94 lakh shares on offer. The IPO was subscribed 41.88 times. The IPO opened on 22 March 2017 and closed on 24 March 2017. The issue price was fixed at top end of the price band of Rs 440 to Rs 460 per share.

The qualified institutional buyers (QIBs) category was subscribed 51.62 times. The non institutional investors category, made up of high net-worth individuals, was subscribed 90.68 times. The retail individual investors (RIIs) category was subscribed 15.35 times.

Shankara Building Products is one of the leading organized retailers of home improvement and building products in India, operating under the trade name, Shankara BuildPro, since the past two decades.

Dr Reddys Laboratories will be watched. With reference to a news item captioned, US FDA started Srikakulam inspection on March 27, 2017. No major observation from US FDA yet on Srikakulam plant, the company clarified that the reports being flashed by some media are speculative and unverified.

The company has not issued any statement as the audit is still in progress. The company said it regularly informs all concerned on material events and presently does not have any other information which is material to the companys operations or consolidated results. The clarification was issued after market hours on Monday, 3 April 2017.

NTPC said that Unit 2 of 250 megawatts (MW) of Bhartiya Rail Bijlee Company (BRBCL-a subsidiary of NTPC) has been commissioned on 3 April 2017. Further, NTPC has also commissioned its first wind turbine of 2 MW at Rojmal Wind Power Project (50 MW). With this, the commissioned capacity of NTPC and NTPC group has become 43534 MW and 50750 MW respectively. The announcement was made on Tuesday, 4 April 2017, when the stock markets were shut on account of local holiday.

The Committee of Directors of IL&FS Transportation Networks had approved on 31 March 2017, the allotment of 7,500 Rated, Listed, Redeemable, Non-Convertible Debentures of the face value of Rs 10,00,000 aggregating to Rs 750 crore on a private placement basis. The announcement was made on Tuesday, 4 April 2017, when the stock markets were shut on account of local holiday.

TVS Motor Company said its total sales rose 10% to 2.56 lakh units in March 2017 over March 2016. Total two-wheeler sales increased by 10.7% to 2.50 units in March 2017 over March 2016. Total three-wheeler sales fell 8.72% to 5,362 units in March 2017 over March 2016. Total exports grew 23.6% to 38,462 units in March 2017 over March 2016. The announcement was made after market hours yesterday, 3 April 2017.

Further, the company informed that it had commenced manufacture and sale of BS IV compliant inventory much before the transition date of 31 March 2017. Consequently, the stocks of BS III compliant products with the dealers were progressively coming down. However, on 29 March 2017 by its order, the Supreme Court of India permitted sale of such BS III emission compliant products only up to 31 March 2017. Accordingly, the company within the framework provided by the court order extended suitable required support to the dealers to enable them to offer attractive incentive schemes to customers to sell the BS III compliant stocks. The dealers have confirmed that majority of such stocks have been sold by 31 March 2017. The company is assessing the one-time impact of this transition on the financials of the company.

NMDC kept its iron ore prices unchanged in April 2017 compared with March 2016. NMDC said its lump ore prices were constant at Rs 2425 per wet metric tonne (WMT) in April 2017. Price of fines were constant at Rs 2185 per WMT in April 2017. The announcement was made after market hours yesterday, 3 April 2017.

MEP Infrastructure Developers said it entered into memorandum of understanding (MoU) with CIDB Holdings SDN BHD, a fully-owned subsidiary of the Construction Industry Development Board (CIDB Malaysia), to strengthen, promote and develop their cooperation by knowledge sharing and introducing best practices towards joint development of sustainable highway and expressways projects in India and related investments. The activities mentioned above may be carried out in India or any other country as may be mutually agreed upon. The announcement was made after market hours yesterday, 3 April 2017.

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Indian markets closed for local holiday
Apr 04,2017

Indias stock, currency and derivatives market were closed on Tuesday (04 April 2017) due to local holiday on account of Ram Navami. The markets will resume trading on wednesday.

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Tata Teleservices (Maharashtra) gets revision in credit ratings
Apr 04,2017

Tata Teleservices (Maharashtra) announced that CARE has revised the credit ratings of various credit facilities of the Company as under -

Long term bank facilities (Rs 5433 crore) - CARE A-/ Negative (Revised from CARE A)

Bank facilities fund based LT cash credit (Rs 140 crore) - CARE A-/ Negative (Revised from CARE A)

Bank facilities non fund based ST -BG (Rs 1005 crore) - CARE A2+ (Revised from CARE A1)

Bank facilities fund based ST- term loan (Rs 550 crore) - CARE A2+ (Revised from CARE A1)

Bank facilities - proposed (Rs 98 crore) - CARE A-/ Negative / CARE A2+ (Revised from CARE A / CARE A1)

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