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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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V-Mart Retail opens two stores
Jun 19,2017

V-Mart Retail has opened two stores in the state of Madhya Pradesh and Bihar. These are fashion stores. This takes the total of stores to 146 store in 125 cities across 14 states.

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Tata Steel hardens after plans to sell shares in Tata Motors
Jun 19,2017

The announcement was made on Saturday, 17 June 2017.

Shares of Tata Motors declined 0.09% to Rs 455.10.

Meanwhile, the S&P BSE Sensex was up 137.68 points or 0.44% at 31,194.08.

On the BSE, 43,890 shares were traded on the counter so far of Tata Steel as against the average daily volumes of 8.08 lakh shares in the past one quarter. The stock had hit a high of Rs 512.50 and a low of Rs 509 so far during the day.

Tata Steel said that the transaction is expected to be executed on or after 23 June 2017 at or around the prevailing price on the date of proposed sale, subject to no material market movements in price since the date of this disclosure.

Tata Sons is the promoter of the major operating Tata companies and holds significant shareholdings in these companies. Tata companies are commonly referred to as the Tata group and the Chairman of Tata Sons as Chairman of the Tata group.

About 66% of the equity capital of Tata Sons is held by philanthropic trusts endowed by members of the Tata family. The largest of these trusts are the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust, which were created by the sons of Jamsetji Nusserwanji Tata, the founder of the group.

Tata Steel held 2.9% stake while Tata Sons held 28.71% stake in Tata Motors, as per the shareholding pattern as on 31 March 2017.

Tata Steel reported consolidated net loss of Rs 1168.02 crore in Q4 March 2017, compared with net loss of Rs 3041.88 crore in Q4 March 2016. The consolidated net sales rose 29.6% to Rs 33424.09 crore in Q4 March 2017 over Q4 March 2016.

Tata Steel is the worlds second-most geographically-diversified steel producer, with operations in 26 countries and commercial presence in over 50 countries.

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VRL Logistics enters into agreement of sale with Rajglory Infra
Jun 19,2017

VRL Logistics has entered into an agreement of sale with Rajglory Infra LLP for purchase of land and construction of transhipment yard at Surat, Gujarat at an estimated cost of Rs 83 crore. The payment would be made in stages and said premises would be available for operation after completion within next 24 months.

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Outcome of board meeting of Precious Trading & Investments
Jun 19,2017

Precious Trading & Investments announced that the Board of Directors of the Company at its meeting held on 17 June 2017 passed enabling resolutions for -

1.Approval of Adoption of new set of Articles of the Company as per Companies Act, 2013.

2.Approval of increase in Borrowing limit under Section 180(1)(c) of the Companies Act, 2013.

3.Approval of limit for creation of security on the movable and immovable properties of the Company under Section 180(1)(a) of the Companies Act, 2013.

4.Approval of limit to make investments, give loan or guarantee or provide security under Section 186 of the Companies Act, 2013.

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Tata Steel to sell 8,36,37,697 equity shares of Tata Motors to Tata Sons
Jun 19,2017

Tata Steel proposes to sell 8,36,37,697 Equity Shares of face value of Rs. 2/- each of Tata Motors to Tata Sons. The transaction is expected to be executed on or after 23 June 2017 at or around the prevailing price on the date of proposed sale, subject to no material market movements in price since the date of this disclosure.

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Need to establish legal infrastructure for India to take lead in AI field: Study
Jun 19,2017

India should take lead in establishing a legal infrastructure on the application of artificial intelligence (AI) to become a frontrunner, suggested a recent ASSOCHAM-PwC joint study.

The jointly conducted study by ASSOCHAM-PwC highlighted how an early public sector interest could trigger a spurt of activity in the AI field in India, instead of waiting for technology to reach a level where regulatory intervention becomes necessary.

It also said that a range of application for AI techniques in large-scale public endeavours like Make in India, Skill India and others could range from crop insurance schemes, tax fraud detection, and detecting subsidy leakage and defence and security strategy.

n++If investments are made in the two initiatives without due cognisance of how Industry 4.0 (the next industrial revolution driven by robotic automation) may evolve with respect to demand for workforce size and skill sets, there is a possibility of ending up with capital-intensive infrastructures and assets that fall short of being optimised for automated operations and a large workforce skilled in areas growing beyond the need for manual intervention only,n++ it added.

The report stated that Make in India initiative which focuses on twin goals of strengthening countrys in-house innovation and production capabilities with added creation of employment opportunities may not end up creating nearly as many jobs as it is poised to at this point in time.

Information technology (IT), manufacturing, agriculture and forestry are certain sectors that are expected to experience shrinkage of employment demand as robotic systems and machine learning algorithms take up several tasks, the report said.

Highlighting how AI can be effectively used in execution of government schemes, the report said that deep learning, a part of AI, can be employed to tackle issues of scale often prevalent in such schemes.

n++It is essentially a process that can be used for pattern recognition, image analysis and natural language processing (NLP) by modelling high-level abstractions in data which can then be compared with various other recognised contents in a conceptual way rather than using just a rule-based method,n++ it said.

The study further said that in comparison to the West and frontrunners of AI adoption in Asia, such as China and Korea, the culture and infrastructure needed to develop a base for the adoption of AI in mainstream applications in India is in need of an impetus.

Indian academics, researchers and entrepreneurs face a more acute challenge than corporates do in terms of the less than ideal infrastructure available for an AI revolution in India.

As such it is imperative in India to foster a culture of innovation and research beyond the organisation as is common in global technology giants. n++To encourage the same level of innovation in AI research efforts in India, initiatives to hold events and build user communities in the field of AI will go a long way.n++

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Board of MSP Steel & Power approves increase in capital and implementation of S4A scheme
Jun 19,2017

MSP Steel & Power announced that the Board of Directors of the Company at its meeting held on 17 June 2017 has approved the following -

a. Increase in the Authorised Share Capital and Consequential amendments to Memorandum of Association of the Company;

b. Conversion of 6 % Redeemable Non-Cumulative Preference Shares to Equity Shares owing to the Scheme for Sustainable Structuring of Stressed Assets

c. Implementation of Scheme for Sustainable Structuring of Stressed Assets (S4A Scheme);

d. Approval for conversion of Loan by Lenders into Equity Shares/Optionally Convertible Debentures (OCDs) of the Company (Securities) and also issue and allot pursuant to implementation of the Reserve Bank of India S4A Scheme for the Company;

f.Appointment of Statutory Auditor to fill casual vacancy.

The Board has decided that the Extraordinary General Meeting of the Company shall be convened on 13 July, 2017

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L&T Construction secures orders worth Rs 2231 crore
Jun 19,2017

Larsen & Toubro announced that its construction arm has won orders worth Rs 2231 crore across various business segments.

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Tata Steel may gain on plans to sell stake in Tata Motors
Jun 19,2017

Tata Steel announced that it proposes to sell 8.36 crore shares of face value of Rs 2 each of Tata Motors to Tata Sons. The transaction is expected to be executed on or after 23 June 2017 at or around the prevailing price on the date of proposed sale, subject to no material market movements in price since the date of this disclosure. The announcement was made on Saturday, 17 June 2017.

POWERGRID Warora Transmission, a 100% subsidiary of Power Grid Corporation of India, secured through Tariff Based Competitive Bidding, has successfully completed an element Gadarwara STPS - Jabalpur Pool 765 kV D/C transmission line and declared the element for commercial operation on 31 May 2017. The announcement was made after market hours on Friday, 16 June 2017.

Dr Reddys Laboratories announced that the audit of its Formulations Srikakulam Plant (SEZ) Unit I, Andhra Pradesh, by the USFDA, has been completed on 16 June 2017. The company has been issued a Form 483 with one observation. The announcement was made after market hours on Friday, 16 June 2017.

IndusInd Bank has acquired 75 lakh shares of Rs 10 each, pursuant to exercise of conversion option on Optionally Convertible Redeemable Preference Shares, i.e., conversion of each Optionally Convertible Preference Share held by the bank into 10 shares of Kesoram Industries at a price of Rs.120 per share. The announcement was made on Saturday, 17 June 2017.

Axis Bank has revised Marginal Cost of Funds based Lending Rate (MCLR) rates in the short tenors. The 1 year MCLR stands unchanged at 8.25%. New rates are effective from 17 June 2017. The announcement was made after market hours on Friday, 16 June 2017.

NTPC has commissioned 225 megawatts (MW) out of 250 MW of Mandsaur Solar Power Project of NTPC. With this, the installed capacity of NTPCs solar power projects has become 845 MW. The total installed capacity of NTPC on standalone basis has become 44419 MW and that of NTPC group has become 51635 MW. The announcement was made after market hours on Friday, 16 June 2017.

MSPL Steel & Power said that the board of directors of the company approved conversion of 6% redeemable non-cumulative preference shares to equity shares owing to the Scheme for Sustainable Structuring of Stressed Assets.

The board also approved implementation of Scheme for Sustainable Structuring of Stressed Assets (S4A Scheme) and conversion of loan by lenders into equity shares/optionally convertible debentures (OCDs) of the company and also issue and allot pursuant to implementation of the Reserve Bank of India S4A Scheme for the company. The announcement was made on Sunday, 18 June 2017.

Wheels India and Topy Industries, Japan have reached an agreement regarding a strategic partnership in the passenger car steel wheels business in India, whereby Topy will invest a 26% stake in WIL Car Wheels, a wholly owned subsidiary of Wheels India. The investment will be made through new issue of equity shares by WCWL to Topy. The announcement was made after market hours on Friday, 16 June 2017.

WCWL was set by WIL to carry on the passenger car steel wheel business in India. WIL has entered into agreements to transfer its entire passenger car steel wheel business carried out at its plants in Padi, Chennai and Bawal, Haryana, on slump sale basis, to the new company.

Nucleus Software Exports announced that the buyback committee approved share buy-back of upto 33.43 lakh fully paid-up equity shares under the buyback offer, representing 10.32% of the total paid-up equity share capital of the company at final buyback price of Rs 350 per share for an aggregate amount not exceeding Rs 117 crore which is 24.83% of the paid-up equity share capital and free reserves of the company for the Financial Year ended 31 March 2017. The announcement was made after market hours on Friday, 16 June 2017.

HIL said that the company is holding 33% stake in Supercor Industries Limited, Nigeria as a joint venture (JV) between the company and other shareholders including State Govt. of Bauchi and the said company is not in a position to prepare any accounts/management accounts FY 2016-17 due to cash crisis situation which forced them to stop their operations since November 2015. The company also initiated winding up petition to expedite the process.

Further, as per the provisions of Regulation 33 of Listing Regulations, the company has decided to opt for submission of standalone quarterly and yearly results for FY 2018 in view of the above reasons. Apart from the above joint venture, company does not have any other joint ventures or subsidiaries or associates companies and hence the company will not prepare any consolidated accounts. The announcement was made after market hours on Friday, 16 June 2017.

Shriram Transport Finance Company announced that the allotment committee non-convertible debentures (NCDs) of the company approved and allotted 1,000 secured redeemable, rated, listed NCDs of face value of Rs 10 lakh each, aggregating to Rs 100 crore on private placement basis. The announcement was made after market hours on Friday, 16 June 2017.

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KMF Builders & Developers standalone net profit rises 144.44% in the March 2017 quarter
Jun 17,2017

Net profit of KMF Builders & Developers rose 144.44% to Rs 0.22 crore in the quarter ended March 2017 as against Rs 0.09 crore during the previous quarter ended March 2016. Sales declined 68.49% to Rs 0.69 crore in the quarter ended March 2017 as against Rs 2.19 crore during the previous quarter ended March 2016.

For the full year,net profit declined 25.71% to Rs 0.26 crore in the year ended March 2017 as against Rs 0.35 crore during the previous year ended March 2016. Sales declined 61.37% to Rs 2.14 crore in the year ended March 2017 as against Rs 5.54 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales0.692.19 -68 2.145.54 -61 OPM %2.906.85 -12.1510.83 - PBDT0.300.23 30 0.490.68 -28 PBT0.320.21 52 0.360.56 -36 NP0.220.09 144 0.260.35 -26

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Burnpur Cement reports standalone net loss of Rs 23.00 crore in the March 2017 quarter
Jun 17,2017

Net Loss of Burnpur Cement reported to Rs 23.00 crore in the quarter ended March 2017 as against net loss of Rs 9.53 crore during the previous quarter ended March 2016. Sales declined 89.71% to Rs 3.58 crore in the quarter ended March 2017 as against Rs 34.80 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 53.88 crore in the year ended March 2017 as against net loss of Rs 12.71 crore during the previous year ended March 2016. Sales declined 15.51% to Rs 74.34 crore in the year ended March 2017 as against Rs 87.99 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales3.5834.80 -90 74.3487.99 -16 OPM %-525.1417.70 --24.6812.75 - PBDT-18.664.88 PL -35.494.08 PL PBT-21.663.24 PL -47.740.06 PL NP-23.00-9.53 -141 -53.88-12.71 -324

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Keynote Corporate Services standalone net profit rises 7900.00% in the March 2017 quarter
Jun 17,2017

Net profit of Keynote Corporate Services rose 7900.00% to Rs 1.60 crore in the quarter ended March 2017 as against Rs 0.02 crore during the previous quarter ended March 2016. Sales rose 482.22% to Rs 2.62 crore in the quarter ended March 2017 as against Rs 0.45 crore during the previous quarter ended March 2016.

For the full year,net profit declined 45.69% to Rs 1.89 crore in the year ended March 2017 as against Rs 3.48 crore during the previous year ended March 2016. Sales declined 30.52% to Rs 4.94 crore in the year ended March 2017 as against Rs 7.11 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales2.620.45 482 4.947.11 -31 OPM %39.69-113.33 -2.8334.74 - PBDT1.950.16 1119 2.775.26 -47 PBT1.850.06 2983 2.364.82 -51 NP1.600.02 7900 1.893.48 -46

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Birla Transasia Carpets reports standalone net loss of Rs 0.30 crore in the March 2017 quarter
Jun 17,2017

Net Loss of Birla Transasia Carpets reported to Rs 0.30 crore in the quarter ended March 2017 as against net loss of Rs 0.22 crore during the previous quarter ended March 2016. Sales declined 29.41% to Rs 0.48 crore in the quarter ended March 2017 as against Rs 0.68 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 1.04 crore in the year ended March 2017 as against net loss of Rs 0.88 crore during the previous year ended March 2016. Sales declined 16.61% to Rs 2.26 crore in the year ended March 2017 as against Rs 2.71 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales0.480.68 -29 2.262.71 -17 OPM %-33.33-4.41 --14.60-10.33 - PBDT-0.23-0.10 -130 -0.61-0.56 -9 PBT-0.30-0.17 -76 -0.89-0.83 -7 NP-0.30-0.22 -36 -1.04-0.88 -18

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Panafic Industrials standalone net profit rises 66.67% in the March 2017 quarter
Jun 17,2017

Net profit of Panafic Industrials rose 66.67% to Rs 0.25 crore in the quarter ended March 2017 as against Rs 0.15 crore during the previous quarter ended March 2016. Sales rose 18.75% to Rs 0.57 crore in the quarter ended March 2017 as against Rs 0.48 crore during the previous quarter ended March 2016.

For the full year,net profit rose 250.00% to Rs 0.63 crore in the year ended March 2017 as against Rs 0.18 crore during the previous year ended March 2016. Sales rose 527.96% to Rs 5.84 crore in the year ended March 2017 as against Rs 0.93 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales0.570.48 19 5.840.93 528 OPM %75.4431.25 -13.8751.61 - PBDT0.250.15 67 0.630.26 142 PBT0.250.15 67 0.630.26 142 NP0.250.15 67 0.630.18 250

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Accel Frontline reports standalone net loss of Rs 9.58 crore in the March 2017 quarter
Jun 17,2017

Net Loss of Accel Frontline reported to Rs 9.58 crore in the quarter ended March 2017 as against net loss of Rs 89.06 crore during the previous quarter ended March 2016. Sales rose 18.08% to Rs 111.73 crore in the quarter ended March 2017 as against Rs 94.62 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 20.82 crore in the year ended March 2017 as against net loss of Rs 137.59 crore during the previous year ended March 2016. Sales rose 13.20% to Rs 365.05 crore in the year ended March 2017 as against Rs 322.49 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales111.7394.62 18 365.05322.49 13 OPM %-0.62-68.27 -2.76-28.10 - PBDT-6.47-69.23 91 -11.92-109.20 89 PBT-9.58-71.53 87 -20.82-117.66 82 NP-9.58-89.06 89 -20.82-137.59 85

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