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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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Board of Frontier Capital does not recommend dividend
Jun 05,2017

Frontier Capital announced that the Board of Directors of the Company have not recommended dividend for FY 2017 at meeting held on 29 May 2017.

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Hotel Leelaventure jumps 12% in two sessions
Jun 05,2017

The company issued clarification during market hours on Friday, 2 June 2017. Shares of Hotel Leelaventure rose 2.67% to settle at Rs 23.10 on that day. The stock has risen 12% in two trading sessions from its close of Rs 22.50 on Thursday, 1 June 2017.

Meanwhile, the S&P BSE Sensex was up 28.54 points, or 0.09% to 31,301.83.

On the BSE, 5.09 lakh shares were traded in the counter so far, compared with average daily volumes of 2.78 lakh shares in the past one quarter. The stock had hit a high of Rs 25.85 and a low of Rs 22.75 so far during the day. The stock hit a 52-week high of Rs 27.25 on 10 May 2017. The stock hit a 52-week low of Rs 15 on 25 November 2016.

The stock had outperformed the market over the past one month till 2 June 2017, rising 11.59% compared with 3.81% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 46.20% as against Sensexs 8.47% rise. The scrip had also outperformed the market in past one year, rising 34.69% as against Sensexs 16.50% rise.

The small-cap company has equity capital of Rs 93.32 crore. Face value per share is Rs 2.

Hotel Leelaventure added that, however, no binding agreement has been signed with any party as on date. The company issued the clarification after media reports indicated that Marigold Capital and Investments is likely to buy Leela Groups 326-room hotel in Chennai.

Marigold Capital and Investment is an American private equity fund and is looking to buy the hotel for around Rs 700 crore, reports said. Marigold Capital and Investments specialises in acquiring debt-ridden hotels and commercial real estate properties and turning them into profitable businesses.

Hotel Leelaventure reported net profit of Rs 13.42 in Q4 March 2017 compared with net loss of Rs 228.87 crore in Q4 March 2016. Net sales rose 2.3% to Rs 198.35 crore in Q4 March 2017 over Q4 March 2016.

Hotel Leelaventure is a leading Indian luxury hospitality group founded in 1986.

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Airtel Business launches first of its kind Digital Platform
Jun 05,2017

Airtel Business, the B2B arm of Bharti Airtel has rolled out a first of its kind dedicated digital platform to serve the growing connectivity, communication and collaboration requirements of Emerging Businesses,including SMEs and Startups. The digital platform will offer solutions to emerging enterprises to enable ease of business and faster time to market.

Airtels new digital platform on http://www.airtel.in/business/business-internet will offer connectivity solutions to start with and will be integrated with more solutions periodically. Emerging businesses cannow discover and buy connectivity plans in just three easy steps- (i) Select a plan most suited for them; (ii) Pin their location to check feasibility; (iii) Place an order. This eliminates multiple layers of traditionalprocesses to offer a fast and convenient way to identify connectivity solutions bringing down the total time required to order and deploy a solution by up to 70%.

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JVL Agro drops on profit booking
Jun 05,2017

Meanwhile, the S&P BSE Sensex was up 51.14 points, or 0.16% at 31,324.43. The S&P BSE Small-Cap index was up 103.33 points, or 0.66% at 15,412.50.

High volumes were witnessed on the counter. On the BSE, 3.86 lakh shares were traded on the counter so far as against the average daily volumes of 2.03 lakh shares in the past one quarter. The stock had hit a high of Rs 22.35 and a low of Rs 20.85 so far during the day. The stock had hit a 52-week high of Rs 25.45 on 22 June 2016 and hit a 52-week low of Rs 14 on 22 November 2016.

The stock had outperformed the market over the past one month till 2 June 2017, advancing 6.93% compared with the Sensexs 4.52% rise. The scrip had also outperformed the market over the past one quarter gaining 10.2% as against the Sensexs 8.44% rise. The scrip had also outperformed the market over the past one year advancing 17.07% as against the Sensexs 16.5% rise.

The small-cap company has equity capital of Rs 16.79 crore. Face value per share is Rs 1.

JVL Agro Industries had rallied 20% in the preceding one trading session to settle at Rs 21.60 on Friday, 2 June 2017, from its closing of Rs 18 on 1 June 2017.

JVL Agro Industries reported consolidated net loss of Rs 5.13 crore in Q4 March 2017, compared with net profit of Rs 0.94 crore in Q4 March 2016. Net sales fell 0.4% to Rs 855.18 crore in Q4 March 2017 over Q4 March 2016.

JVL Agro Industries is engaged in the operations related to production of vanaspati, refine and mustard oil, and trading of goods.

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Bank of Baroda reviews MCLR rates
Jun 05,2017

Bank of Baroda has revised its MCLR rates with effect from 07 June 2017 as under -

Overnight - 8.10%
One month - 8.15%
Three months - 8.20%
Six months - 8.30%
One year - 8.35%
Three years - 8.50%
Five years - 8.65%

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Kanak Krishi Implements announces resignation of director
Jun 05,2017

Kanak Krishi Implements announced that Love kumar having DIN: 06786190 has resigned from the Post of Directorship with effect from 16 May 2017.

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Mangalore Chemicals & Fertilizers announces resignation of director
Jun 05,2017

Mangalore Chemicals & Fertilizers announced that Kapil Mehan (DIN: 01215092), Non-Executive Director has resigned from the Board of Directors of the Company with effect from 03 June 2017.

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HealthFore Technologies shifts registered office
Jun 05,2017

The Board of Directors of HealthFore Technologies (the Company) through a Resolution by passed Circulation on 03 June 2017 have approved the shifting of Registered Office of the Company from 54, Janpath, New Delhi - 110001 to 1 Rajesh Pilot Lane, New Delhi - 110001 with effect from 05 June 2017.

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Mount Shivalik Industries announces resignation of director
Jun 05,2017

Mount Shivalik Industries announced that Dr. K. S. Chugh, Non Executive Independent Director of the Company has resigned from the Board of Directors of the Company w.e.f 26 May 2017, due to his health problems

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Virtual Global Education enters into MoU with Astra E-Ventures
Jun 05,2017

Virtual Global Education has entered into MoU with Astra E-Ventures for providing online fees collection service and other value added services for educational institutions and platforms and facilitates its Merchants in accepting online payments initiated by its customers/ parents/ students using valid Debit cards, credit cards, net banking and various other acceptable modes of payment mechanism.

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NDTV tumbles after CBI carries out searches
Jun 05,2017

Meanwhile, the S&P BSE Sensex was up 53.02 points, or 0.17% to 31,326.31.

On the BSE, 1.04 lakh shares were traded in the counter so far, compared with average daily volumes of 24,921 shares in the past one quarter. The stock had hit a high of Rs 62.55 so far during the day. The stock had hit a low of Rs 58.10 so far during the day, which is also a 52-week low for the counter. The stock hit a 52-week high of Rs 99 on 13 July 2016.

The stock had underperformed the market over the past one month till 2 June 2017, falling 2.58% compared with 3.81% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 10.10% as against Sensexs 8.47% rise. The scrip had also underperformed the market in past one year, falling 33.72% as against Sensexs 16.50% rise.

The small-cap company has equity capital of Rs 25.79 crore. Face value per share is Rs 4.

According to media reports, the Central Bureau of Investigation (CBI) carried out searches at the residence of New Delhi Television (NDTV) founder Prannoy Roy in Delhi and in Dehradun for allegedly causing loss to a private bank. CBI has registered a case against Roy, his wife Radhika and RRPR Holdings for allegedly causing a loss of Rs 48 crore to ICICI Bank, reports added.

NDTV clarified to the bourses during trading hours today, 5 June 2017, that this morning, the CBI stepped up the concerted harassment of NDTV and its promoters based on the same old endless false accusations. NDTV and its promoters will fight tirelessly against this witch-hunt by multiple agencies. The company added that it will not succumb to these attempts to blatantly undermine democracy and free speech in India.

On a consolidated basis, NDTV reported net profit of Rs 5.28 crore in Q4 March 2017 as against net loss of Rs 0.77 crore in Q4 March 2016. Net sales declined 9.07% to Rs 154.35 crore in Q4 March 2017 over Q4 March 2016.

NDTV is news and lifestyle television network in India.

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Greenlam Industries complete expansion of its unit at Nalagarh, Himachal Pradesh
Jun 05,2017

Greenlam Industries announced that it has completed the expansion of its manufacturing capacity of Laminates at the unit of the Company at Nalagarh, Himachal Pradesh, to manufacture additional 2 million laminates sheets per annum. The expanded capacity is now operational. With this expansion, the installed capacity for laminates has become 14.02 million laminate sheets per annum. The said expansion has the potential to generate revenue of Rs 120.00 crore per annum on full capacity utilization.

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Services activity grows at quicker pace amid stronger upturn in new work: Nikkei India Services PMI
Jun 05,2017

The Indian service sector recovered some recent lost ground, with a quicker rise in new business inflows boosting growth of both activity and employment during May. Input costs and output charges increased at softer rates that were broadly negligible in the context of historical PMI data. Meanwhile, business sentiment weakened on the back of growing concerns regarding competitive pressures.

Rising from 50.2 in April to 52.2 in May, the seasonally adjusted Nikkei India Services PMI Business Activity Index pointed to the fastest increase in output in the current four-month sequence of expansion. The headline number was, however, indicative of a moderate pace of growth that was below the series average (54.8).

Output at goods producers rose at a softer rate than in April, but one that outstripped that seen in the service economy. Across the combined private sector, activity growth accelerated. This was shown by the seasonally adjusted Nikkei India Composite PMI Output Index reaching a seven-month high of 52.5 in May (April: 51.3).

Supporting the pick-up in services activity growth was a quicker rise in new business inflows. Anecdotal evidence indicated that the increase in new work was a reflection of better underlying demand. The stronger upturn in services new work counterbalanced the slowdown in growth of manufacturing orders and new work across the private sector economy as a whole expanded at a faster pace than in April.

Service providers took on extra staff in May in order to cope with greater workloads. Although modest overall, the rate of jobs growth accelerated to the fastest in almost four years. Factory jobs, on the other hand, fell in the latest month.

Job creation at services firms also mirrored expectations of output growth, with panellists mentioning new offerings, business expansion plans, more marketing and favourable government policies as the key factors supporting positive sentiment regarding the 12-month outlook. That said, worries around an increasingly competitive environment weighed on confidence and optimism was at a three-month low. In contrast, goods producers were at their most upbeat since last November.

Input costs facing service providers continued to rise during May, which panellists associated with higher prices paid for fuel, freight and food. The rate of inflation was, however, negligible relative to the long-run series average. A similar pattern was seen for output prices, which showed a marginal and softer increase during May. Purchasing price inflation at manufacturers eased to an eight-month low, but output prices were raised at a faster pace than in April.

Outstanding business volumes at service providers rose further in May, taking the current sequence of continuous accumulation to one year. Despite being more pronounced than in April, the pace of increase in backlogs was moderate. According to those panellists reporting higher levels of work-in-hand, this occurred due to difficulties in obtaining payments from clients. The level of unfinished work held by manufacturing firms also expanded at a modest, though quicker, pace.

Commenting on the Indian Services PMI survey data, Pollyanna De Lima, economist at IHS Markit, and author of the report, said: The pick-up in service sector growth seen mid-way through the first quarter (FY) suggests that GDP could expand at a faster rate should growth momentum be maintained in June, though there are downside perils to this.

Despite accelerating from April, rates of increase in both services activity and new work are much weaker than typical for India. Moreover, business confidence fell as a reflection of firms concerns regarding competitive pressures and lacklustre demand.

Cracks also appeared in the manufacturing sector, which outperformed services despite expansion rates for production and order books easing since April. Worries that this period of uninspiring growth may continue for some time might prompt the RBI to lower the benchmark rate in order to support the economy.

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Volumes jump at Swaraj Engines counter
Jun 05,2017

Swaraj Engines clocked volume of 41,000 shares by 13:45 IST on BSE, a 52.74-times surge over two-week average daily volume of 771 shares. The stock rose 0.92% to Rs 1,909.95.

Trent notched up volume of 3.80 lakh shares, a 49.02-fold surge over two-week average daily volume of 7,756 shares. The stock rose 0.95% to Rs 251.

Deepak Nitrate saw volume of 6.67 lakh shares, a 27.05-fold surge over two-week average daily volume of 25,000 shares. The stock rose 1.45% to Rs 143.80.

V-Mart Retail clocked volume of 56,000 shares, a 25.38-fold surge over two-week average daily volume of 2,213 shares. The stock jumped 12.18% to Rs 1,129.10.

Titan Company saw volume of 20.02 lakh shares, a 19.14-fold rise over two-week average daily volume of 1.05 lakh shares. The stock surged 16.83% to Rs 551.75.

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NMCG Approves Projects Worth Rupee 1900 cr Hundred Percent Sewage Treatment for Haridwar, Rishikesh, Vrindavan, Varanasi, Allahabad and Delhi
Jun 05,2017

Giving another major push to Namai Gange programme National Mission for Clean Ganga (NMCG) has approved projects worth Rs 1,900 crore for the creation of sewage treatment infrastructure in Uttar Pradesh, Bihar and UT of Delhi. With approval of these projects hundred percent sewage treatment facility will be made available for Haridwar, Rishikesh, Vrindavan, Varanasi, Allahabad and NCT of Delhi. These projects were approved in the third meeting of the Executive Committee of NMCG.

A comprehensive project of interception, diversion and treatment of sewage in Naini, Phaphamau and Jhunsi sewerage zones of Allahabad at an estimated cost of Rs 767.59 crore has been approved. Apart from construction of a 42 MLD (million litres per day) Sewage Treatment Plant (STP) in Naini, the project also encompasses building up of eight sewage pumping stations among other works. None of the three zones have any sewerage schemes or any sanctioned STPs as yet. These approved projects along with the existing ones would take care of sewage management of the core city of Allahabad bounded by rivers Ganga and Yamuna. The projects would also arrest flowing waste water of 18 drains into the rivers to ensure pollution free water for bathing at Sangam during Ardh Kumbh mela 2019. With approval of these projects 100% sewage treatment capacity can be achieved in Allahabad.

Three projects of sewage treatment infrastructure were approved for Pahari sewage zone in Patna city of Bihar including construction of a 60 MLD STP and laying of sewerage lines at an estimated cost of about Rs 744 crore. With these approvals, Patna will now have a sewage treatment capacity of 200 MLD.

In the National Capital Territory of Delhi, construction of as many as seven prioritized STPs of total capacity of 94 MLD in Najafgarh area have been approved at an estimated cost of Rs 344.81 crore under Maily Se Nirmal Yamuna project that was initiated on the directions of National Green Tribunal (NGT). Najafgarh drain contributes around 70 per cent of the total discharge of the city into river Yamuna that includes a lot of untreated sewage. The locations where STPs have been approved are Tajpur Khurd (36 MLD), Jaffarpur Kalan (12 MLD), Khera Dabar (5 MLD), Hasanpur (12 MLD), Kakraula (12 MLD), Kair (5 MLD) and Tikri Kalan (12 MLD). With this, all planned projects in Delhi have been approved.

On afforestation front, an all-encompassing programme in five Ganga main stem States - Uttarakhand, Uttar Pradesh, Bihar, Jharkhand and West Bengal - at an estimated cost of Rs 61.5 crore has also been given a go-ahead. This would include sapling preparations in nurseries, soil work, plantation and care.

With this, NMCG has given go-ahead to projects worth more than Rs 4,100 crore during the last three months in the States of Uttarakhand, Uttar Pradesh, Bihar, Jharkhand and NCT of Delhi.

It may be recalled that Union Minister for Water Resources, River development and Ganga Rejuvenation Sushri Uma Bharti is currently on a three week Ganga Nirikshan Abhiyan from Gangasagar to Gangotri to personally monitor the progress of Namami Gange programme. The Minister has reached Narora in UP and will proceed to Haridwar today via Bhrigu Ashram and Najibabad.

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