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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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Around 63% women absenteeism due to health problems in metro cities: PHD Chamber Survey
Mar 06,2017

According to a recent survey study by PHD Research Bureau of PHD Chamber of commerce & Industry, a majority of women (70%) work for 8-10 hours in a day travel as large as 30 kilometres and travel for more than an hour to reach their workplace.

In spite of the long hours spent at work and the long travel distance, a positive trend in work satisfaction was seen. About 64% of the women participants stated that they were either completely satisfied or somewhat satisfied with their work, said the survey study.

Around 5000 working and non-working women were surveyed from the metropolitan cities such as Delhi, Mumbai, Bengaluru, Kolkata and Chennai by the Research Bureau of PHD Chamber during January-February 2017 through a structured questionnaire.

Interestingly, the majority of women (84%) reported that they devote 2-4 hours in household work and 49% said that they have domestic help to do household work.

However, little support was seen coming from family members in running household errands with women, reflecting on the fact that the sole responsibility of home management has been always been on the lady of the house.

The survey study is an endeavour to explore and strike a balance between work, life and health status of women in India. It explores the efforts made by the employer to provide a healthy work environment for their female employees.

FACT SHEET

n++63% of women reported absenteeism from work due to health issues

n++41% women reported cold, cough and fever as the main reason for missing work

n++Around 27% women reported aches and pains as the main health concern.

n++52% of women spend less than 10% of their income on health

n++58% women trust private healthcare facilities more than government or local clinics

n++37% women reported a provision of 3-6 months maternity leave

n++Only 27% women reported having a dispensary with lady doctor in their workplace

n++83% of women reported having separate working toilets for then at workplace

n++69% women also had the provision of paid sick leaves at workplace

n++84% women devoted 2-4 hours for household work

n++49% reported having a domestic help for household work

n++Only 2% women reported that they had facility of crn++che in their offices

n++Only 7% working women have work from home facility

Source: PHD research Bureau, PHD Chamber of Commerce and Industry The results of the analysis have been divided into three basic categories; Work Life Balance, Health Concerns, and Workplace Health Provisions. The findings elucidate that a majority 63% women reported missing work (absenteeism) due to health issues. As many as 41% of women have reported cold, cough and fever as the main health reason for missing work. An equally interesting trend is the high percent of aches and pains (27%) especially back pain and headache which has also been reported widely in the survey. An analysis of the percentage of income spent on own health showed that 52% of women spent less than 10% of their income on health, while only 5% spent more than 40%. About 2% of the respondents said that they have crn++che facilities in their offices. This is a major grey area where the employers can work to provide a conducive environment to their female employees. 7% of the respondents said that they have work from home facilities in their offices. It was also found that work from home facility was availed more by women after marriage or child birth or in case of illness of a family member. It was found that 58% women trusted private healthcare facilities more than government or local clinics.

It was revealed from the analysis that 69% of the women had a provision of paid sick leaves at their respective work places.

About 37% of women reported 3-6 months maternity benefits being given to them.

The infrastructural provision showed that 83% of womens workplace had separate toilets for them. However, only 27% of working women reported having a dispensary with a lady doctor in their workplace.

Shuttling between the various tasks at hand, women often overlook their health and continue to unconditionally manage both home and work simultaneously.

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Board of Hindustan Fluoro Carbons make note of proposal for divestment of Hindustan Organic Chemicals
Mar 06,2017

Hindustan Fluoro Carbons announced that the Board of Directors at its meeting held on 27 February 2017 has noted the following -

The proposal of strategic disinvestment of the Company through outright sale of Hindustan Organic Chemicals, holding company shares consisting of 11060000 equity shares of Rs 10 each aggregating to Rs 56.43%.

GoI called tenders for engagement of asset valuer, legal advisors and transaction advisor for disinvestment of the Company.

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Asian Oilfield Services drops on profit booking
Mar 06,2017

Meanwhile, the S&P BSE Sensex was up 140.86 points, or 0.49%, to 28,973.31

On the BSE, so far 1.22 lakh shares were traded in the counter, compared with average daily volumes of 1.55 lakh shares in the past one quarter. The stock hit a high of Rs 218.50 in intraday trade so far, which is 52-week high for the counter. The stock had hit a low of Rs 205.10 so far during the day. The stock hit a 52-week low of Rs 29.70 on 29 March 2016.

The stock had outperformed the market over the past 30 days till 3 March 2017, rising 57.8% compared with 2.15% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 104.4% as against Sensexs 9.92% rise.

The small-cap company has equity capital of Rs 22.32 crore. Face value per share is Rs 10.

On a consolidated basis, Asian Oilfield Services reported net loss of Rs 2.53 crore in Q3 December 2016, higher than net loss of Rs 20.05 crore in Q3 December 2015. Net sales rose 38.24% to Rs 16.63 crore in Q3 December 2016 over Q3 December 2015.

Asian Oilfield Services is engaged in providing geophysical, drilling and well services to customers across the Indian sub-continent.

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Emami fixes record date for interim dividend
Mar 06,2017

Emami has fixed 15 March 2017 as record date for payment of interim dividend.

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Metal stocks drop on weak China GDP growth target for 2017
Mar 06,2017

High Grade Copper for May 2017 delivery was down 1.04% at $2.6685 per pound on the COMEX.

Meanwhile, the S&P BSE Sensex was up 147.90 points or 0.51% at 28,980.35.

Bhushan Steel (down 1.21%), Jindal Steel & Power (down 0.55%), Vedanta (down 1.12%), Tata Steel (down 0.62%), NMDC (down 0.65%), Hindalco Industries (down 0.15%), Steel Authority of India (down 0.56%), JSW Steel (down 0.3%), Hindustan Zinc (down 1.1%) and National Aluminium Company (down 0.26%) edged lower.

The BSE Metal index had matched the market over the past one month till 3 March 2017, gaining 2.1% compared with the Sensexs 2.1% rise. The index had, however, outperformed the market over the past one quarter, gaining 16.98% as against the Sensexs 9.92% rise.

Meanwhile, disappointing economic news from China also weighed on metal sector stocks. China set its GDP growth target at around 6.5% for 2017, down from last years 6.7%, as the worlds second largest economy braced for further slowdown of its growth.

China is the worlds largest consumer of steel, copper and aluminum.

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Volumes jump at Rallis India counter
Mar 06,2017

Rallis India clocked volume of 5.33 lakh shares by 13:46 IST on BSE, a 27.02-times surge over two-week average daily volume of 20,000 shares. The stock was up 2.24% at Rs 239.50.

Dredging Corporation of India notched up volume of 1.87 lakh shares, a 18.41-fold surge over two-week average daily volume of 10,000 shares. The stock jumped 8.43% at Rs 483.05 after a media report suggested that the government is looking to sell 51% stake in the company. The strategic stake sale should materialize by middle of the next fiscal year starting April, the media report suggested.

Texmaco Rail & Engineering saw volume of 8.06 lakh shares, a 16.06-fold surge over two-week average daily volume of 50,000 shares. The stock rose 0.06% at Rs 89.70.

KEC International clocked volume of 5.57 lakh shares, a 12.5-fold surge over two-week average daily volume of 45,000 shares. The stock rose 0.51% at Rs 167.85.

Bajaj Electricals saw volume of 4.94 lakh shares, a 7.47-fold rise over two-week average daily volume of 66,000 shares. The stock rose 2.05% at Rs 263.25.

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TVS Motor Company fixes record date for 2nd interim dividend
Mar 06,2017

TVS Motor Company has fixed 15 March 2017 as record date for second interim dividend. The dividend will be paid on or after 18 March 2017.

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Cox & Kings owned Meininger hotel opens hotel in Milan
Mar 06,2017

Cox & Kings owned Meininger hotel group and Fondazione Fratelli di S. Francesco DAssisi ONLUS signed an agreement for a Meininger Hotel in Milan.

The property with 80 rooms and 268 beds is located in the city of Milan on Strada Private Calvino 11 close to the Garibaldi train station. It is the second hotel of the Meininger group in Milan.

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Intellect Design Arena allots 84,500 equity shares
Mar 06,2017

Intellect Design Arena announced that the Stakeholders Relationship Committee of the Company vide its Circular Resolution dated March 03rd, 2017 has approved the allotment of 3,100 shares to Three (3) associates under ASOP 2003 Scheme, the allotment of 56,100 shares to Seventeen (17) associates under ASOP 2011 Scheme and the allotment of 25,300 shares to Twelve (12) associate under ISOP 2015 scheme.

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Moodys: Project finance bank loans continue to demonstrate resilience
Mar 06,2017

Moodys Investors Service has released its annual study on default and recovery rates for unrated project finance bank loans, which examines 6,389 global project finance transactions during a 33 year period from 1983 to 2015. The updated Study includes for the first time Moodys analysis on the impact of a projects location on its credit performance, based on the World Bank Groups country classification.

Consistent with last years study, Moodys found a 10-year cumulative default rate of 6.7% and an average recovery rate of 79.5%. Infrastructure projects and public-private partnership projects experienced an increase in their 10-year cumulative default rates compared to the previous study. However, their cumulative default rates remain materially below the study data average.

Moodys says marginal annual default rates for project finance bank loans exhibit certain characteristics that distinguish them from corporate finance bonds and loans. As a result, marginal default rates tend to fall over time and trend toward those consistent with the single-A rating category by the seventh year after financial close.

The decline in marginal annual default rates over time suggests that the default risk of a project declines as construction is completed and the project starts to build its operating track record, says Kathrin Heitmann, a Moodys AVP-Analyst and co-author of the report.

Consistent with this finding, project jurisdiction matters in the initial years of a project but jurisdiction tends to be a less critical driver once a project has started to build an operating track record.

Recovery rates for project finance bank loans are similar to recovery rates for senior secured corporate bank loans and show some variation by World Bank Group Country Classification and by industry, says Heitmann. The most likely recovery rate remains 100%, seen in nearly two-thirds of projects.

The study also found ultimate recovery rates for construction-phase defaults to be lower than those for operation-phase defaults. Project finance lenders typically seek higher loan margins during the construction phase than during early stage operations.

The study, which updates a previous report from March 2016, is 9% larger and accounts for some 62% of all project finance transactions originated globally between 1983 and 2015. The study is based on a data set from a consortium of project finance lenders and investors. Neither Moodys Investors Service nor Moodys Analytics verifies the data submitted for the study.

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Hatsun Agro Product commissions 24 MW wind power plants for captive consumption
Mar 06,2017

Hatsun Agro Product has commissioned wind power plants with 24 MW capacity in Tuticorin district, Tamil Nadu. A solar plant with 550 kW capacity is getting commissioned during March 2017 in Dindigul district, Tamil Nadu. The wind and solar power projects are part of Hatsuns ongoing efforts to promote the use of clean and green energy sources.

The projects costing Rs 180 crore are expected to generate around 73 million units of electricity per annum which will be utilised for captive consumption. The green energy projects will meet 75% of the power requirements of the Company.

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HUL slips after bulk deal
Mar 06,2017

Meanwhile, the S&P BSE Sensex was up 169.11 points or 0.59% at 29,001.56

Bulk deal boosted volume on the scrip. On BSE, so far 6.98 lakh shares were traded in the counter as against average daily volume of 1.18 lakh shares in the past one quarter. The stock hit a high of Rs 882.10 and a low of Rs 866.50 so far during the day.

The stock had hit a 52-week high of Rs 954 on 9 September 2016. The stock had hit a 52-week low of Rs 782.95 on 23 December 2016. The stock had outperformed the market over the past 30 days till 3 March 2017, rising 3.82% compared with 2.15% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, gaining 5.3% as against Sensexs 9.92% rise.

The large-cap company has equity capital of Rs 216.43 crore. Face value per share is Re 1.

Hindustan Unilevers (HUL) net profit rose 6.82% to Rs 1037.93 crore on 0.02% growth in total income to Rs 7947.42 crore in Q3 December 2016 ove Q3 December 2015.

HUL is a leading fast moving consumer goods (FMCG) company.

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RIL hits almost nine-year high
Mar 06,2017

Reliance Industries had made the presentation to the analysts after market hours on Thursday, 2 March 2017 on Jio. The stock had gained 2.04% to Rs 1,258.45 on Friday, 3 March 2017.

Meanwhile, the S&P BSE Sensex was up 172.58 points or 0.6% at 29,005.03.

More than usual volumes were witnessed on the counter. On the BSE, 5.99 lakh shares were traded on the counter so far as against the average daily volumes of 4.15 lakh shares in the past one quarter. The stock had hit a high of Rs 1,307.05 so far during the day, its highest level since 21 May 2008, for the counter. The stock had hit a low of Rs 1,265.45 so far during the day.

The stock had hit a 52-week low of Rs 925.70 on 23 May 2016. The stock had outperformed the market over the past one month till 3 March 2017, gaining 21.74% compared with the Sensexs 2.1% rise. The scrip had also underperformed the market over the past one quarter, gaining 26.44% as against the Sensexs 9.92% rise.

The stock has jumped 26.8% in fourteen sessions to its current ruling price of Rs 1,304, from a close of Rs 1,028.35 on 13 February 2017.

The large-cap company has equity capital of Rs 3243.98 crore. Face value per share is Rs 10.

Reliance Industries telecom arm Reliance Jio Infocomm (RJIL) believes that it is well-positioned to achieve more than 50% of revenue market share and expects earnings before interest, tax, depreciation and amortisation (EBITDA) margin of greater than 50%. Jio also considers it is the only 5G ready network in India due to its elastic network and deep fiber.

The company believes that voice revenues in industry will shift to data and that the data market in India will be Rs 3 lakh crore by 2020-21. The 40 crore subscribers in industry can afford to spend minimum of Rs 500 on digital services. Jio caters to 85% of mobile data traffic in India today and it can support more than 60% of forecasted 2020-21 India data demand, it added.

Shares of Reliance Industries (RIL) had rallied 10.97% in a single trading session on 22 February 2017, amid investors expectations of revenue generation from its telecom subsidiary RJIL starting from 1 April 2017. RIL on 21 February 2017 said that it has breached the 100 million customer mark in 170 days. The stock has witnessed a rising trend amid upgrades by brokerage houses.

The stock is seeing increased interest from several institutional funds that were massively underweight on it due to the under-performance in the past eight years.

The most aggressive target for RIL set out by one of the global brokerage was of Rs 1,500 last week. Another global brokerage firm, too had raised the target price to Rs 1,375 from Rs 1,200 earlier.

RILs consolidated net profit rose 3.6% to Rs 7506 crore on 17.6% growth in net sales to Rs 79408 crore in Q3 December 2016 over Q3 December 2015.

Reliance Industries (RIL) is Indias largest private sector company. RILs activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and telecommunications.

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Dredging Corporation spurts on stake sale reports
Mar 06,2017

Meanwhile, the S&P BSE Sensex was up 163.30 points, 0.57% to Rs 28,995.75.

On the BSE, 1.71 lakh shares were traded on the counter so far as against the average daily volumes of 30,760 shares in the past one quarter. The stock had hit a high of Rs 518.80 so far during the day, which is also 52-week high. The stock hit a low of Rs 480.60 so far during the day. The stock had hit a 52-week low of Rs 313.70 on 4 March 2016.

The small-cap company has equity capital of Rs 28 crore. Face value per share is Rs 10.

The strategic stake sale should materialize by middle of the next fiscal year starting April, the media report suggested.

The government currently holds 73.47% stake in Dredging Corporation of India (as on 31 December 2016).

Dredging Corporation of Indias reported net profit of Rs 14.04 crore in Q3 December 2016, compared with net loss of Rs 19.62 crore in Q3 December 2015. Net sales fell 13.7% to Rs 139.39 crore in Q3 December 2016 over Q3 December 2015.

State-run Dredging Corporation of India provides dredging services to the major ports of the country.

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Everest Organics provides update on USFDA inspection of facility At Aroor Village
Mar 06,2017

Everest Organics announced that USFDA inspected its facility at Aroor Village, from 27 February 2017 to 03 March 2017. The Company has received only one observation. The Company believes this to be of minor in nature and corrective & preventive action for this observation will be presented to USFDA, shortly.

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