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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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Swagruha Infrastructure reports standalone net profit of Rs 0.01 crore in the June 2017 quarter
Jul 31,2017

Net profit of Swagruha Infrastructure remain constant at Rs 0.01 crore in the quarter ended June 2017 and also during the previous quarter ended June 2016. Sales rose 75.00% to Rs 0.07 crore in the quarter ended June 2017 as against Rs 0.04 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales0.070.04 75 OPM %14.2925.00 - PBDT0.010.01 0 PBT0.010.01 0 NP0.010.01 0

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Oswal Yarns reports standalone net profit of Rs 0.05 crore in the June 2017 quarter
Jul 31,2017

Net profit of Oswal Yarns reported to Rs 0.05 crore in the quarter ended June 2017 as against net loss of Rs 0.04 crore during the previous quarter ended June 2016. Sales rose 109.52% to Rs 1.76 crore in the quarter ended June 2017 as against Rs 0.84 crore during the previous quarter ended June 2016.

ParticularsQuarter Endedn++Jun. 2017Jun. 2016% Var. Sales1.760.84 110 OPM %5.112.38 - PBDT0.06-0.03 LP PBT0.05-0.04 LP NP0.05-0.04 LP

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JBF Industries tumbles after ratings downgrade
Jul 31,2017

The announcement was made after market hours on Friday, 28 July 2017.

Meanwhile, the S&P BSE Sensex was up 177.73 points, or 0.55% to 32,487.61.

On the BSE, 1.04 lakh shares were traded in the counter so far, compared with average daily volumes of 26,235 shares in the past one quarter. The stock had hit a high of Rs 221 and a low of Rs 198.50 so far during the day. The stock hit a record high of Rs 326 on 22 June 2017. The stock hit a 52-week low of Rs 185.90 on 22 November 2016.

The stock had underperformed the market over the past one month till 28 July 2017, falling 20.90% compared with 4.71% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 23.33% as against Sensexs 7.99% rise. The scrip had also underperformed the market in past one year, rising 9.24% as against Sensexs 15.18% rise.

The small-cap company has equity capital of Rs 81.87 crore. Face value per share is Rs 10.

JBF Industries announced that the rating of the company has been downgraded to D default rating by rating agencies predominantly due to delays by the JBF group in servicing its debt obligations.

JBF Industries is a manufacturer of polyester value chain products. The company is one of the largest polyester chips and yarn manufacturers in India and around 75% of the total domestic sales of the company find applications in the textile segment.

The company added that due to the recent policy changes by the Government of India namely, demonetization exercise and goods and services tax (GST) implementation, there have been protesting shut downs in the domestic unorganized textile segment. This has resulted in the cash flows of the company to be severely affected and delays in servicing some of its debt obligation with the lenders. In turn this has led to a formation of a joint lending forum (JLF) by the lenders as per applicable guidelines of the Reserve Bank of India (RBI). However, the company is of the view that these policy changes by the government, viz. demonetization exercise and GST implementation, will have an overall positive effect on the industry and the company in due course.

Net profit of JBF Industries declined 41.9% to Rs 11.14 crore on 7.7% rise in net sales to Rs 1069.92 crore in Q4 March 2017 over Q4 March 2016.

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State Bank of India revises savings bank deposits interest rate
Jul 31,2017

State Bank of India (SBI) has revised interest rates on Savings Bank Deposits with effect from 31 July 2017. Accordingly, rate of interest on savings deposits balance upto Rs 1 crore will be 3.50% per annum and 4% rate of interest on savings deposits balance above Rs 1 crore.

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International Paper APPM to resume production at Rajahmundry facility
Jul 31,2017

International Paper APPM announced that the strike by contract workmen has been called off on 29 July 2017 and necessary steps are being taken to resume production at its manufacturing facility in Rajahmundry.

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Board of Vakrangee approves feasibility study for new store format and franchisee model
Jul 31,2017

The Board of Vakrangee at its meeting held on 31 July 2017 approved proposed feasibility study in a new Store Format - Vakrangee Kendra PRIME and on Master Franchisee Model.

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Mahindra Lifespace Developers announces change in directorate
Jul 31,2017

Mahindra Lifespace Developers announced that Sanjiv Kapoor has ceased to be an Independent Director of the Company with effect from 30 July 2017 on expiry of term of office.

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Mahindra Lifespace Developers announces cessation of director
Jul 31,2017

Mahindra Lifespace Developers announced that Dr Prakash Hebalkar has ceased to be an Independent Director of the Company with effect from 30 July 2017 on expiry of his term of office.

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Projects worth Rs 425 crore approved by NMCG
Jul 31,2017

The Executive Committee of National Mission for Clean Ganga (NMCG) in its 4th meeting approved seven projects worth Rs 425 crore in the sector of sewage infrastructure, Ghat development and research.

In sewage sector, three projects each in Uttar Pradesh and Bihar have been approved. For Uttar Pradesh, interception, diversion and STP projects for Unnao, Shuklaganj and Ramnagar have been approved. These three projects aim at creation of sewage treatment capacity of 29 MLD (Unnao- 13 MLD, Shuklaganj- six MLD and Ramnagar- ten MLD) at a total cost of Rs 238.64 crore.

While in Bihar, three projects at Sultanganj, Naugachia and Mokama with total estimated cost of Rs 175 crore have been approved. These three projects will create additional sewage treatment capacity of 27 MLD (Sultanganj- ten MLD, Mokama- eight MLD and Naugachia- nine MLD).

All the six projects will be provided with Operation and Maintenance cost for 15 years by Central government and 100 per cent central assistance. It is also important to mention that Unnao and Sultanganj projects will be taken up under Hybrid Annuity based PPP model in which 60 per cent of the capital cost will be paid to the contractor who has constructed the STP, over a period of 15 years, on the basis of his work performance on the achievement of desired norms of treated waste water.

A research study to understand the non-putrefying properties of river Ganga in both water and sediment was also approved at an estimated cost of Rs 4.96 crore. The study will be an extension of a research carried out by National Environment Engineering Research Institute (NEERI) to identify the special properties of rivers waters. This research would focus on finding out the science behind these special properties in order to formulate a strategy to retain these characteristics.

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Outcome board meeting of Dynamic Archistructures
Jul 31,2017

Dynamic Archistructures announced the Board of Directors of the Company at its meeting held on 31 July 2017, has considered and approved the following:

- Update on delisting of Securities of the Company from Calcutta Stock Exchange and discontinuation of submission of quarterly compliances with Delhi Stock Exchange.

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Thirumalai Chemicals announces resignation of directors
Jul 31,2017

Thirumalai Chemicals announced that P. Shankar, Independent Director (DIN: 01638317) and A. Janakiraman, Independent Director (DIN: 01831854) have resigned on 31 July 2017 from their position in the company.

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Shipping Corporation of India announces cessation of director
Jul 31,2017

Shipping Corporation of India announced the cessation of Capt. Sarveen Narula from the Board of Directors of the Company with effect from 01 August 2017 due to his superannuation.

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Balrampur Chini Mills leads gainers on BSEs A group
Jul 31,2017

Balrampur Chini Mills rose 5.42% at Rs 163.50. The stock topped the gainers in A group. On the BSE, 2.66 lakh shares were traded on the counter so far as against the average daily volumes of 1.62 lakh shares in the past two weeks.

IL&FS Transportation Networks rose 4.80% at Rs 93.80. The stock was the second biggest gainer in A group. On the BSE, 1.42 lakh shares were traded on the counter so far as against the average daily volumes of 62,000 shares in the past two weeks.

Jindal Steel & Power rose 3.98% at Rs 155.55. The stock was the third biggest gainer in A group. On the BSE, 16.08 lakh shares were traded on the counter so far as against the average daily volumes of 13.06 lakh shares in the past two weeks.

State Bank of India rose 3.63% at Rs 310.05. The stock was the fourth biggest gainer in A group. On the BSE, 23.29 lakh shares were traded on the counter so far as against the average daily volumes of 8.54 lakh shares in the past two weeks.

Crompton Greaves Consumer Electricals rose 3.86% at Rs 216.50. The stock was the fifth biggest gainer in A group. On the BSE, 22,000 shares were traded on the counter so far as against the average daily volumes of 1.63 lakh shares in the past two weeks.

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Gujarat Ambuja Exports nosedives after weak Q1 earnings
Jul 31,2017

The result was announced on Saturday, 29 July 2017.

Meanwhile, the S&P BSE Sensex was up 141.76 points, or 0.44% at 32,457.41. The S&P BSE Small-Cap index was up 29.94 points, or 0.19% at 16,101.16.

High volumes were witnessed on the counter. On the BSE, 1.42 lakh shares were traded on the counter so far as against the average daily volumes of 22,472 shares in the past one quarter. The stock had hit a high of Rs 130 and a low of Rs 110 so far during the day. The stock had hit a record high of Rs 146.95 on 5 May 2017 and a 52-week low of Rs 70.80 on 17 August 2016.

The stock had outperformed the market over the past one month till 28 July 2017, advancing 8.03% compared with the Sensexs 4.79% rise. The scrip had, however, underperformed the market over the past one quarter advancing 1.57% as against the Sensexs 7.99% rise. The scrip had, however, outperformed the market over the past one year advancing 75.1% as against the Sensexs 14.54% rise.

The small-cap company has equity capital of Rs 22.93 crore. Face value per share is Rs 2.

Gujarat Ambuja Exports is principally involved in agro-processing and has focus on exports, competing in the global market.

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With inflation at 5 year low, RBI Monetary Policy Committee must cut interest rates: ASSOCHAM to Governor Patel
Jul 31,2017

Citing inflation at a five year low and deceleration in the factory output, the ASSOCHAM has written to the RBI Governor Dr Urjit Patel, making out a strong case for at least 25 basis point cut in the policy interest rate when the RBI Monetary Policy Committee meets on August 2.

n++After a long duration of consistency in the Repo rates, ASSOCHAM believes that the RBI could reduce the policy rate by 25 basis points,n++ the chambers Secretary General Mr D S Rawat said in his letter to the RBI Governor, ahead of the impending credit policy review by the Monetary Policy Committee.

It said a strong case was made out for a reduction in the interest rates, keeping in mind new lows in both CPI and WPI inflation. n++The consumer price index (CPI) in June reached an almost-5 year low at 1.54%, from 2.18% in the previous quarter. The wholesale price index (WPI) also eased to 0.9% from 2.17%n++.

The case for rate-cut is additionally strengthened by easing of food inflation to (minus)-2.12% from 0.31%. Good monsoon forecasts for the current financial year have additionally created a stance for further reduction in the food inflation. The Current Account Deficit also continues to remain stable on account of stability in the crude-oil prices, since last one year.

n++The deceleration in factory output growth could further bolster the case for a rate cut next month to boost Asias third-largest economy, which grew 6.1 per cent in the January-March quarter - its weakest pace in more than two yearsn++, the chamber said .

Hoping for a due consideration of its demand for a rate cut by the Monetary Policy Committee, the ASSOCHAM said, the RBI also needs to come out with a special dispensation for loan recovery from the Small and Medium Enterprises as also the mid-sized corporates. n++We also expect in the policy some directional guidance and softer measures on recovery from SMEs and Mid-corporate.

Making a plea to the MPC, through Dr Patel, Mr Rawat said given the high leverage causing a big drain on the balance sheets of a large number of companies, a cut in the lending rates would be a big relief to different sectors of the economy.

n++We hope that our concerns and suggestions shall be given their due considerationn++.

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