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Jindal Drilling & Industries standalone net profit declines 3.66% in the June 2016 quarter

Jindal Drilling & Industries standalone net profit declines 3.66% in the June 2016 quarter

Sep 14,2016

Net profit of Jindal Drilling & Industries declined 3.66% to Rs 9.48 crore in the quarter ended June 2016 as against Rs 9.84 crore during the previous quarter ended June 2015. Sales rose 11.24% to Rs 92.66 crore in the quarter ended June 2016 as against Rs 83.30 crore during the previous quarter ended June 2015.

ParticularsQuarter Ended
n++Jun. 2016Jun. 2015% Var.
Sales92.6683.3011
OPM %9.8912.74-
PBDT14.5518.68-22
PBT12.0915.01-19
NP9.489.84-4

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Globus Spirits resumes commercial productions at Unit in Bihar
Dec 28,2016

Globus Spirits has resumed its operation and commenced its commercial production (with a production capacity of 80,000 Bulk Litre per day) on 02 December 2016 after removing all the technical bottlenecks at its unit, Globus Spirits, Vill ; Dhudhua, Tehsil : Jandoho, Dist:Vaishali, Bihar. The Company has also intimated the same to the Department of industry, Govt. of Bihar.

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Prabhat Telecoms (India) appoints directors
Dec 28,2016

Prabhat Telecoms (India) announced that appointment of Arvind Navrang Singh and Anand Ashok Khemani as Non Executive Independent Directors of the company with effect from 26 December 2016.

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Dhanuka Agritech gains as board to approve final terms of share buyback
Dec 28,2016

The announcement was made after market hours yesterday, 27 December 2016.

Meanwhile, the S&P BSE Sensex was up 28.50 points or 0.11% at 26,241.94.

On the BSE, 2,517 shares were traded on the counter so far as against the average daily volumes of 9,593 shares in the past one quarter. The stock had hit a high of Rs 738.65 and a low of Rs 725 so far during the day.

The stock had hit a record high of Rs 777 on 31 August 2016 and a 52-week low of Rs 473 on 20 January 2016. The stock had outperformed the market over the past one month till 27 December 2016, advancing 0.72% compared with the Sensexs 0.39% fall. The scrip had also outperformed the market over the past one quarter advancing 6.8% as against the Sensexs 7.12% fall.

The mid-cap company has equity capital of Rs 10 crore. Face value per share is Rs 2.

Dhanuka Agritech said that the outcome of the postal ballot being conducted, to seek such shareholders approval, will also be announced on 2 January 2017.

Dhanuka Agritechs board at a meeting held on 10 November 2016, had approved the proposal of buyback of shares on a proportionate basis through a tender offer route for an amount not exceeding Rs 80 crore, being 16.69% of the total paid-up equity capital and free reserves of the company as on 31 March 2016, at a maximum price not exceeding Rs 850 per share.

The company intends to buyback not more than 10 lakh shares representing 2% of the total paid up equity share capital of the company.

Dhanuka Agritechs consolidated net profit rose 30.5% to Rs 49.21 crore on 14.4% rise in net sales to Rs 308.97 crore in Q2 September 2016 over Q2 September 2015.

Dhanuka Agritech is engaged in the manufacture of agro-chemicals like herbicides, insecticides, fungicides and miticides.

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Smart cities mission can aid in promoting the theatre, dance and crafts industry: FICCI - EY report
Dec 28,2016

The Smart Cities mission provides a significant opportunity to promote creative industries in India, notes an FICCI-EY report titled n++Creative arts in Indian++. Launched at the Smart cities, Art Cities, the report covers the opportunities provided by the Indian performing arts industry.

Creative clusters in Smart Cities, which are unique to the character, resources and the local community can serve as a focal point to brand a citys unique cultural identity and embrace its historic significance.

The report also includes a survey with eminent personalities in the industry to understand the challenges faced by the sector. Inadequate infrastructure has emerged as the top most challenge, with obtaining sponsorships and onerous regulations governing the sector completing the top three.

It also highlights the regulatory support the industry expects from the government, with easing out of permissions, rationalisation of entertainment tax and availability of credit emerging as the top three.

The report also highlights three key recommendations for the sustained success of the Indian theatre, dance and crafts industry:

- Form an association/ body of India theatre/ dance and craft practitioners that exclusively worked for the upliftment and promotion of the sector

- Involve the private sector to invest in the creative arts of the country by adequately incentivising them through tax incentives

- Develop creative clusters showcasing the regions local culture within Smart Cities to attract tourists and residents

This first ever report on the performing arts and handicrafts industry in India focuses on the current size of the industry, funding mechanisms, key opportunities and challenges faced by the industry, along with best practices followed in other countries and how they drive and fund creative arts.

This report is a result of over 30 interviews conducted by FICCI and EY of eminent theatre, dance and craft personalities to understand their perspective of the industry and its growth opportunities/ aspects, key challenges faced, support needed from the Government, and other best practices adopted.

Drawing on both secondary research and primary data collected through interviews, the report aims to provide recommendations to the Government on how the current status of the industry can be enhanced through adequate investment and funding measures.

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Prabhat Telecoms (India) announces cessation of director
Dec 28,2016

Prabhat Telecoms (India) announced that Atul Arvind Singh, Non-Executive Independent Director of the Company has resigned and Board of Directors at its Meeting held on 26 December 2016, has accepted his resignation and accordingly Atul Arvind Singh ceases to be Non-Executive Independent Director of the Company with effect from 26 December 2016.

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Saksoft surges on fund buying
Dec 28,2016

Meanwhile, the S&P BSE Sensex was up 91.68 points or 0.35% at 26,305.12.

On the BSE, 1.13 lakh shares were traded on the counter so far as against the average daily volumes of 11,318 shares in the past one quarter. The stock had hit a high of Rs 315.90 and a low of Rs 287 so far during the day.

The stock had hit a record high of Rs 474.30 on 13 January 2016 and a 52-week low of Rs 152 on 22 November 2016. It had outperformed the market over the past one month till 27 December 2016, advancing 56.24% compared with the Sensexs 0.39% fall. The scrip had also outperformed the market in the past one quarter, surging 24.06% as against the Sensexs 7.12% fall.

The small-cap company has equity capital of Rs 10.43 crore. Face value per share is Rs 10.

Saksofts consolidated net profit fell 1.06% to Rs 4.65 crore on 3.94% decline in net sales to Rs 61.43 crore in Q2 September 2016 over Q1 June 2016.

Saksoft is a provider of information management solutions to successful organizations around the world.

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Electrosteel Steels jumps on report Piramal Enterprises, Renaissance Group vie for stake
Dec 28,2016

Meanwhile, the BSE Sensex was up 88.39 points, or 0.34%, to 26,301.83.

On the BSE, so far 6.80 lakh shares were traded in the counter, compared with average daily volumes of 8.34 lakh shares in the past one quarter. The stock had hit a high of Rs 3.59 and a low of Rs 3.38 so far during the day.

The stock hit a 52-week high of Rs 4.50 on 27 January 2016. The stock hit a 52-week low of Rs 2.42 on 29 June 2016. The stock had outperformed the market over the past 30 days till 27 December 2016, rising 5.23% compared with the 0.52% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 10.27% as against Sensexs 7.35% decline.

The small-cap company has equity capital of Rs 2409.24 crore. Face value per share is Rs 10.

According to a media report, the Ajay Piramal-led Piramal Enterprises and the Renaissance Group, an part of the Dalmia Group, are in the reckoning to jointly purchase a 51% stake in Electrosteel Steels.

While Piramal Enterprises is expected to invest Rs 1400 crore in Electosteel Steels through its private equity arm Piramal Capital, the Renaissance Group will manage the operations. The funds will be used to complete the expansion of the Bokaro plant and increase capacity by one million tonne to 2.5 mtpa, the report suggested.

Electrosteel Steels reported net loss of Rs 485.89 crore in Q2 September 2016 as against net loss of Rs 203.57 crore in Q2 September 2015. Net sales declined 2.6% to Rs 556.93 crore in Q2 September 2016 over Q2 September 2015.

Electrosteel Steels makes products like pig iron, billets, tmt bars, wire rods and ductile iron pipes. Electrosteel Steels is promoted by Electrosteel Castings which owns 45.23% of the equity.

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Parag Milk Foods advances after action from foreign funds
Dec 28,2016

Meanwhile, the S&P BSE Sensex was up 96.67 points or 0.37% at 26,310.11.

On the BSE, 7,121 shares were traded on the counter so far as against the average daily volumes of 74,132 shares in the past one quarter. The stock had hit a high of Rs 267 and a low of Rs 261.20 so far during the day.

The stock had hit a record high of Rs 356.70 on 13 July 2016 and a record low of Rs 202.10 on 24 May 2016. It had underperformed the market over the past one month till 27 December 2016, sliding 3.71% compared with the Sensexs 0.39% fall. The scrip had also underperformed the market in the past one quarter, declining 14.66% as against the Sensexs 7.12% fall.

The small-cap company has equity capital of Rs 84.11 crore. Face value per share is Rs 10.

Macquarie Emerging Markets Asian Trading Pte sold 19.83 lakh shares of the company at Rs 253.85 per share to New Horizon Opportunities Master Fund. Copthall Mauritius Investment offloaded 4.96 lakh shares at Rs 253 a piece to New Horizon Opportunities Master Fund.

Copthall Mauritius Investment held 1.83% and Macquarie Emerging Markets Asian Trading Pte owned 2.87% in Parag Milk Foods end September 2016.

On a consolidated basis, Parag Milk Foods net profit rose 47.7% to Rs 14.33 crore on 0.7% growth in net sales to Rs 472.84 crore in Q2 September 2016 over Q2 September 2015.

Parag Milk Foods manufactures a diverse range of products including cheese, ghee (clarified butter), fresh milk, whey proteins, paneer, curd, yoghurt, milk powders and dairy based beverages targeting a wide range of consumer groups through several brands.

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Outcome of board meeting of BLB
Dec 28,2016

BLB announced that the Board of Directors of the company on 27 December 2016 considered and decided the following -

Realignment and restructuring of the Company and its four wholly owned subsidiaries, namely - BLB Commodities, BLB Global Business, Caprise Commodities and Sri Sharadamba Properties.

Decided to withdraw scheme of merger and amalgamation of Manu Properties with the Company.

Decided to withdraw delisting approval application filled with BSE.

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Bharat Financial Inclusion gains after Morgan Stanley hikes stake
Dec 28,2016

The announcement was made after market hours yesterday, 27 December 2016.

Meanwhile, the BSE Sensex was down 120.59 points, or 0.46%, to 26,334.03.

On the BSE, so far 3.62 lakh shares were traded in the counter, compared with average daily volumes of 3 lakh shares in the past one quarter. The stock had hit a high of Rs 548 and a low of Rs 531 so far during the day.

The stock hit a 52-week high of Rs 938.75 on 29 July 2016. The stock hit a 52-week low of Rs 435 on 21 January 2016. The stock had underperformed the market over the past 30 days till 27 December 2016, falling 23.74% compared with the 0.52% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 39.94% as against Sensexs 7.35% decline.

The mid-cap company has equity capital of Rs 137.93 crore. Face value per share is Rs 10.

Morgan Stanley Asia (Singapore), Morgan Stanley Mauritius Company purchased 15.16 lakh shares, or 1.09% stake, in Bharat Financial Inclusion on Friday, 23 December 2016. Post acquisition, the total stake of Morgan Stanley Asia (Singapore), Morgan Stanley Mauritius Company increased to 7.86% in Bharat Financial Inclusion.

Bharat Financial Inclusions net profit rose 87.4% to Rs 145.88 crore on 37.4% increase in operating income to Rs 411.37 crore in Q2 September 2016 over Q2 September 2015.

Bharat Financial Inclusion is among the largest microfinance companies in India.

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India targeting 3.5% of global trade by 2020 : Nirmala Sitharaman
Dec 28,2016

The country is targeting to achieve a share of 3.5% of the global trade by 2020 and there is a need to explore new markets for traditional industries and encourage new industries to penetrate the global markets, said, Nirmala Sitharaman, Minister of State for Commerce and Industry (Independent Charge). She was addressing the delegates at the 89th Annual General Meeting of FICCI.

In the context of increasing protectionism globally, she emphasized the importance of standards and accreditation for achieving the targeted share of global trade and also for preventing imports of sub-standard products in the country.

Sharing her Ministrys activities in the areas of standards, the Minister said that every year national and regional roadshows are organized to make the industry aware of the global standards and accreditation.

She also appreciated the role of service sector in exports and standardization. The share of service sector in Indias GDP has increased to 7.5% despite the severe challenges being faced by it.

R V Kanoria, Past President, FICCI, said that the world has become increasingly uncertain in the context of Brexit, referendum in Italy and other such events making it more challenging for India to bring in more investments and increasing trade.

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Board of Kuber Udyog approves merger of two companies with Kuber Udyog
Dec 28,2016

Kuber Udyog announced that the Board of Directors of the company at its meeting held on 20 December 2016 have subject to approval of various authorities, in principally decided to amalgamate Arunaya Organics and Chinmay Chemicals with the Company.

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Sunil Hitech Engg jumps on new order
Dec 28,2016

The announcement was made after market hours yesterday, 27 December 2016.

Meanwhile, the S&P BSE Sensex was up 37.62 points or 0.14% at 26,251.06.

On the BSE, 1.85 lakh shares were traded on the counter so far as against the average daily volumes of 8.05 lakh shares in the past one quarter. The stock opened with an upward gap surging by the maximum level of 5% and remained locked at that level at Rs 12.40 so far during the day.

The stock had hit a record high of Rs 23.43 on 20 October 2016 and a 52-week low of Rs 7.75 on 24 June 2016. It had outperformed the market over the past one month till 27 December 2016, advancing 35.13% compared with the Sensexs 0.39% fall. The scrip had, however, underperformed the market in the past one quarter, declining 14.36% as against the Sensexs 7.12% fall.

The small-cap company has equity capital of Rs 37.80 crore. Face value per share is Rs 1.

Sunil Hitech Engineers said it has been awarded an order worth Rs 434 crore in Arunachal Pradesh for National Highways & Infrastructure Development Corporation on engineering, procurement & construction (EPC) of road project. This project is in joint venture with PCL-Eagle Infra India.

Sunil Gutte, Managing Director of the company, commented that with the receipt of latest order, the company is continuing its strategy to diversify its order book which will improve its profitability. Its total order book on road segment is now about Rs 1352 crore comprising of 6 projects, in Bihar, Karnataka, West Bengal and Arunachal Pradesh. With these orders, company is having strong foothold in the road sector, he said.

Gutte added that the company proposes to bid for the projects worth Rs 6000 crore in the remaining period of this financial year. He further added that the company has boosted its order book in buildings sector which is surely going to be a major sector to contribute in the infrastructure development projects coming up in the country.

Sunil Hitech Engineers net profit rose 39.7% to Rs 14.84 crore on 19.6% growth in net sales to Rs 496.91 crore in Q2 September 2016 over Q2 September 2015.

Sunil Hitech Engineers is a well established player in EPC and construction of road, bridges, building works of institutions, hospitals and housing projects, cross country pipeline, civil & mechanical works of power and steel plants, cooling towers, chimneys, etc, also in renewable sector.

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Yes Bank receives ratings for Green Infrastructure Bonds
Dec 28,2016

Yes Bank announced that it has received ratings of IND AA+ with a Stable Outlook from India Ratings and Research for Rs 330 crore of Green Infrastructure Bonds.

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Somany Ceramics redeems Commercial Paper worth Rs 15 cr
Dec 28,2016

Somany Ceramics announced that Commercial Paper of Rs. 15.00 crore issued on 28 October 2016 with maturity date of 27 December 2016 has been redeemed.

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