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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 Viaan Industries to consider sub-division of shares
Nov 28,2016

Viaan Industries announced that the Meeting of Business Development Committee of the Company will be held on 14 December 2016, to inter alia to consider sub - division of shares.

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Graphic Charts to announce September quarter and FY results
Nov 28,2016

Graphic Charts announced that a meeting of the Board of Directors has been convened on 30 November 2016, inter alia, to consider and approve the Unaudited Financial Results for the quarter ended and year ended 30 September 2016.

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Suzlon Energy gains after winning order
Nov 28,2016

The announcement was made during trading hours today, 28 November 2016.

Meanwhile, the BSE Sensex was up 64.45 points, or 0.24%, to 26,380.79.

On BSE, so far 11.36 lakh shares were traded in the counter, compared with average daily volume of 45.11 lakh shares in the past one quarter. The stock hit a high of Rs 14.96 and a low of Rs 14.48 so far during the day. The stock hit a 52-week high of Rs 23.25 on 5 January 2016. The stock hit a 52-week low of Rs 12.47 on 9 November 2016. The stock had outperformed the market over the past 30 days till 25 November 2016, falling 0.21% compared with the 5.73% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, sliding 9.72% as against Sensexs 5.28% decline.

The mid-cap company has equity capital of Rs 1004.88 crore. Face value per share is Rs 2.

Suzlon Energy announced its order win of 50.40 megawatt (MW) wind power project from a leading business house. The project consists of 24 units of S95 90m tubular tower with rated capacity of 2.1 MW.

Located in the district of Anantapur, Andhra Pradesh, the project is scheduled for completion in March 2017. This order win takes the total current year order portfolio with the business house to 84 MW out of which 33.60 MW was announced earlier as a part of order wins from SMEs.

Suzion will provide comprehensive operation and maintenance for a period of 20 years and includes dedicated Life cycle asset management services to the project. The project has the potential to provide power to over 27,000 households and reduce 0.10 million tonnes of CO2 emissions per annum.

On a consolidated basis, Suzlon Energy reported net profit of Rs 237.62 crore in Q2 September 2016 as against net loss of Rs 201.66 crore in Q2 September 2015. Net sales rose 57.30% to Rs 2746.18 crore in Q2 September 2016 over Q2 September 2015.

Suzion Energy is one of the leading renewable energy solutions providers in the world with an international presence across 19 countries in Asia, Australia, Europe, Africa and North and South America.

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Indias crude oil refinery output jumps 13% in October 2016
Nov 28,2016

Indias crude oil refinery output increased 13.0% to 20.45 mt in October 2016 over October 2015. The output of public sector refineries improved 20.6% to 11.28 mt, while the output of private refineries also moved up 6.5% to 7.78 mt. However, the refinery output of public-private JV refiners declined 3.7% to 1.38 mt in October 2016.

Among public refineries, the output of Mangalore Refineries jumped 55.4% to 1.30 mt, while the output of Chennai Petroleum Corporation moved up 54.4% to 0.94 mt, and Bharat Petroleum Corporation 24.9% to 2.13 mt in October 2016 over October 2015. The output of Indian Oil Corporation also inched up 17.6% to 5.31 mt, but that of Hindustan Petroleum Corporation declined 3.8% to 1.40 mt, and Numaligarh Refineries plunged 13.5% to 0.20 mt in October 2016.

Among private refiners, the output of Reliance Petroleum fell 8.5% to 6.12 mt, while that of Essar Oil zoomed 166.7% to 1.67 mt in October 2016 over October 2015.

Among JV refineries, the output of Bharat Oman moved up 2.6% to 0.57 mt, but the output of HPCL Mittal fell 7.7% to 0.81 mt in October 2015.

The cumulative refinery output increased 8.1% to 138.49 mt in April-October 2016. The output of public refineries increased 11.3% to 74.10 mt, while that of private refineries moved up 5.3% to 54.92 mt. The refinery output of JV refineries rose 0.5% to 9.47 mt in April-October 2016. Among public refineries, the output of Indian Oil Corporation improved 13.8%, Bharat Petroleum Corporation 7.4%, Hindustan Petroleum Corporation 5.6%, Chennai Petroleum Corporation 19.3%, Numaligarh Refineries 3.2% and Mangalore Refineries 9.8% .

The overall capacity utilization was higher at 107.6% in October 2016 compared with 100.3% in October 2015, while it was also higher at 105.7% in April-October 2016 compared with 104.1% in April-October 2015.

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Draft Model GST Law, Draft IGST Law and Draft Compensation Law placed in the public domain for information of trade, industry and other stake holders
Nov 28,2016

The Draft Model GST Law, Draft IGST Law and Draft Compensation Law which would be considered by the GST Council for approval are placed in the public domain for information of trade, industry and other stake holders. The Draft Model Laws can be accessed at the following websites: www.cbec.gov.in, www.dor.gov.in and www.gst.gov.in

Earlier, the Draft Model GST Law was put in public domain in the month of June, 2016 for comments. A large number of comments were received on the Draft Model GST Law from various stake holders including the trade and industry associations and public.

A Technical Committee of officers from some of the States and the Central Government was constituted to examine the inputs from the stake holders and make suitable amendments in the Draft Model GST Law. The Revised Draft submitted by this Technical Committee on law was further discussed in a meeting held on 21st and 22nd of November, 2016 in Delhi where officers from all States and Central Government were present. The revised and improved version of this Model GST laws shall now be considered by the GST Council for approval on 2nd and 3rd of December, 2016.

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Board of B P Capital approves scheme of amalgamation
Nov 28,2016

B P Capital announced that the Board of Directors of the Company at its meeting held on 26 November 2016 has considered and approved the scheme of amalgamation of Diamond Footcare Udyog (transferor company 1) and Satellite Buildwel (transferor company 2) with the Company.

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Indias crude oil production declines 3.2% in October 2016
Nov 28,2016

Indias crude oil production declined 3.2% to 3.05 million tonnes (mt) in October 2016 over October 2015. Crude oil output of ONGC fell 1.9% to 1.87 mt, while that of private and joint venture (JV) companies dipped 7.5% to 0.90 mt. However, the crude oil production of Oil India improved 3.6% to 0.28 mt in October 2016. ONGCs offshore output declined 3.2% to 1.37 mt, while onshore production rose 1.7% to 0.50 mt.

Crude oil output fell 3.3% to 21.11 mt in April-October period of the fiscal year ending March 2017 (April-October 2016), snapping marginal 0.1% rise recorded in the corresponding period of last year. Output of ONGC eased 1.9% to 12.90 mt, while that of Oil India declined 1.8% to 1.88 mt and private companies fell 6.4% to 6.33 mt in April-October 2016 over April-October 2015.

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Persistent Systems trims intraday gains tracking fund selling
Nov 28,2016

Meanwhile, the S&P BSE Sensex was up 58.52 points or 0.22% at 26,374.86.

On BSE, so far 12,000 shares were traded in the counter as against average daily volume of 13,487 shares in the past one quarter. The stock was volatile. The stock rose as much as 1.45% at the days high of Rs 612 so far during the day. The stock lost as much as 0.2% at the days low of Rs 602 so far during the day. The stock had hit a 52-week low of Rs 501.10 on 28 September 2016. The stock had hit a 52-week high of Rs 796.75 on 21 March 2016. The stock had underperformed the market over the past one month till 25 November 2016, declining 8.48% compared with the Sensexs 6.32% fall. The scrip had also underperformed the market in past one quarter, sliding 6.12% as against the Sensexs 5.46% fall.

The mid-cap company has equity capital of Rs 80 crore. Face value per share is Rs 10.

On a consolidated basis, Persistent Systems net profit rose 0.27% to Rs 73.49 crore on 0.31% growth in net sales to Rs 704.02 crore in Q2 September 2016 over Q1 June 2016.

Persistent Systems builds software that drives the business of our customers; serving software product companies and enterprises with software at the core of their digital transformation.

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Board of Sagar Cements fixes issue price for preferential issue of shares
Nov 28,2016

Sagar Cements announced that the Board at its meeting held on 28 November 2016 inter-alia, fixed an issue price of Rs. 800/- (Rupees eight hundred only) per equity share (which includes a premium of Rs. 790/- per share) for the 6,11,986 equity shares of Rs. 10/- each of the company being issued for cash on a preferential basis, subject to receipt of further necessary approvals as may be required.

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Steel Exchange India to hold EGM
Nov 28,2016

Steel Exchange India will hold EGM of the Company on 21 December 2016 to consider preferential issue of equity shares.

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Cox & Kings owned Meininger Hotels signs lease agreement with Pandox AB
Nov 28,2016

Cox & Kings owned Meininger Hotels and Pandox AB signed a lease agreement for a hotel in Copenhagen. The Urban House Copenhagen Hostel is currently operated by Pandox. Meininger will be taking over the operation of 1000 bed hotel on 01 January 2017. The hotel will be undergoing soft refurbishments concurrently throughout the first 12 months of operations.

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CESC to announce Q2 results
Nov 28,2016

CESC announced that the Unaudited Financial Results of the Company for the quarter/ half year ended 30 September 2016 (Q2) will be taken on record by the Board of Directors of the Company at its meeting to be held on 12 December 2016.

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Vadilal Industries appoints directors
Nov 28,2016

Vadilal Industries has appointed Vijay Ratilal Shah and Jignesh J Shah as an additional director and their appointment will be considered as a non-executive and Independent Director on the Board of the Company w.e.f. 11 November 2016. They will hold the office till the next annual general meeting.

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All 4,041 cities/towns asked to shift to cashless transactions; Madhya Pradesh to do so by March next year
Nov 28,2016

As a part of the ongoing efforts to move towards cashless transactions of all kind, the Ministry of Urban Development has asked all the statutory 4,041 Urban Local Bodies to shift to e-payments at the earliest. These cities and towns account for about 75% of the total 40 crore urban population in the country.

Central Governments message to the officials of these 4,041 urban local bodies was conveyed by Shri Rajiv Gauba, Secretary(Urban Development) through interactive video-conferencing. Senior officials of concerned States also participated during the half day long interaction on various aspects of ensuring cashless transactions.

State and city level officials were asked to promote internet banking (RTGS/NEFT), online banking using credit and debit cards for cashless transactions besides using Public Finance Management Systems(PFMS) developed by the Ministry of Financing for fund transfer, accounting and reconciliation up to the level of cities and towns.

Shri Gauba emphasized that all transactions relating to both income and expenditure of urban local bodies needs to be shifted to e-payment mode. These include payment of Property Tax, Professional Tax, all user charges like water and power bills, all kinds of fee and license charges, online booking of community halls, issue and renewal of birth and death certificates, registration of shops and other establishments, enrollment of library membership etc.

Expenditure to be made cashless include payment of salaries and wages to all regular and contractual employees, all contract and work relate payments, procurements, beneficiary payments like social security etc.

City governments were asked to take up necessary infrastructure and capacity building, awareness campaigns for opening of accounts for employees of all categories and their family members.

States have been asked to adopt Public Finance Management systems (PFMS) up to city level to enable transfer, accounting, reconciliation and monitoring of transfer of funds under various government schemes.

To illustrate the transaction volumes, 59 cities have collected tax revenues of Rs.1,722 cr during November so far including dues payable. These include; Ahmedabad-Rs.187 cr, Bhopal-Rs.27 cr, Chennai-Rs.80 cr, Faridabad- Rs.17 cr, Guwahaty-R.s. 14 cr, Hyderabad-Rs.208 cr, Indore-Rs.32 cr, Kakinada (AP)-Rs.20 cr, Kalyan(Maharashtra)-Rs.170 cr, Lucknow-Rs.23 cr, Raipur-Rs.17 cr, Visakhapatnam-Rs.16 cr, Amritsar-Rs.12 cr, Kanpur-Rs.30 cr, Mumbai-Rs.167 cr and New Delhi Municipal Council-Rs.84 cr.

Officials from Madhya Pradesh informed that the major 7 cities have already enabled cashless transactions and all the 378 cities and towns would do so by March next year. Uttar Pradesh and Goa have reported using PFMS up to city level and found it to be very useful.

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Uflex jumps after good Q2 results
Nov 28,2016

The result was announced after market hours on Friday, 25 November 2016.

Meanwhile, the BSE Sensex was up 38.37 points, or 0.15%, to 26,354.71.

On BSE, so far 1.01 lakh shares were traded in the counter, compared with average daily volume of 68,480 shares in the past one quarter. The stock hit a high of Rs 278.80 and a low of Rs 271 so far during the day. The stock hit a 52-week high of Rs 334 on 27 October 2016. The stock hit a 52-week low of Rs 132.20 on 29 February 2016. The stock had underperformed the market over the past 30 days till 25 November 2016, falling 16.36% compared with the 5.73% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 10.72% as against Sensexs 5.28% decline.

The small-cap company has equity capital of Rs 72.21 crore. Face value per share is Rs 10.

Uflexs consolidated earnings before interest, tax, depreciation and amortization (EBITDA) rose by 6% and stood at Rs 233.10 crore in Q2 September 2016 over Q2 September 2015.

Commenting on Q2 results, R.K. Jain, Group President (Corp. F & A) Uflex said that the companys raw material prices are linked to crude oil prices. The downward pressure of raw material prices over the past few quarters has been retaining the selling prices of the goods on the downside. Therefore, while the volumes have grown, the total revenue has not shown growth during the period. The volume of packaging films has gone up by 14% in Q2 September 2016 over Q2 September 2015. Volume of packaging products has gone up by 5% in Q2 September 2016 over Q2 September 2015. Thus the company has registered a 12% growth in overall volume in Q2 September 2016 over Q2 September 2015.

In a separate announcement after market hours on Friday, 25 November 2016, Uflex said that its board has approved the issuance of redeemable non-convertible secured debentures (NCDs)/bonds upto an amount of Rs 650 crore on private placement basis.

Uflex is Indias largest end-to-end flexible packaging company and an emerging global player.

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