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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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Eicher Motors announces sales figures
Jun 01,2017

Eicher Motors announced sales volumes for the month of May 2017.

Total sales for May 2017 stood at 60696 units compared to 48604 units in February 2016. Year-to-date, total sales were 112172 units compared to 86476 units in the corresponding period of previous year. Of the total sales, units exported stood at 2049 in May 2017 compared to 1372 in May 2016.

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D S Kulkarni Developers get ratings revised
Jun 01,2017

D S Kulkarni Developers has received revised credit ratings from CARE ratings. Its Long Term Bank Facilities are rated CARE D, Fixed Deposits at CARE C (FD) Negative and Secured Redeemable Non-Convertible Debentures at CARE C Negative as the Company suffers from slow down phase in its real estate business.

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Bharat Gears advances after availing term loan
Jun 01,2017

The announcement was made after market hours yesterday, 31 May 2017.

Meanwhile, the S&P BSE Sensex was up 44.11 points, or 0.14%, to 31,189.91. The S&P BSE Small-Cap index was up 132.81 points, or 0.88%, to 15,213.02.

Higher than usual volumes were witnessed on the counter. On the BSE, 25,992 shares were traded in the counter so far, compared with an average volume of 11,177 shares in the past one quarter.

The stock had hit a high of Rs 137 and a low of Rs 132.50 so far during the day. The stock had hit a record high of Rs 170.75 on 6 October 2016. The stock had hit a 52-week low of Rs 74.50 on 2 June 2016.

The stock has jumped 13.87% in five sessions to its ruling price of Rs 133.35 from a close of Rs 117.10 on 25 May 2017.

The stock had outperformed the market over the past one month till 31 May 2017, rising 4.43% compared with 4.1% gains in the Sensex. The scrip had outperformed the market in past one quarter, gaining 17.9% as against Sensexs 8.36% gains. The scrip had also outperformed the market in past one year, gaining 72.19% as against Sensexs 16.79% gains.

The small-cap company has an equity capital of Rs 7.82 crore. Face value per share is Rs 10.

Bharat Gears said that the finance committee of board of directors of the company approved the proposal to avail a term loan of Rs 110 crore from KKR India Financial Services for repaying some of the existing term debts, working capital requirements and capital expenditure, among others.

Bharat Gears net profit rose 96.3% to Rs 2.1 crore on 7.7% rise in net sales to Rs 107.33 crore in Q4 March 2017 over Q4 March 2016.

Bharat Gears is a supplier of automotive gears and heat treatment furnaces. The company manufactures a wide range of ring gears and pinions, transmission gears and shafts, differential gears, gear boxes for the automotive industry.

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Board of Bengal & Assam Company recommends final dividend
Jun 01,2017

Bengal & Assam Company announced that the Board of Directors of the Company at its meeting held on 29 May 2017, inter alia, have recommended the final dividend of Rs 10 per equity Share (i.e. 100%) , subject to the approval of the shareholders.

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Board of Compucom Software recommends final dividend
Jun 01,2017

Compucom Software announced that the Board of Directors of the Company at its meeting held on 29 May 2017, inter alia, have recommended the final dividend of Rs 0.1 per equity Share (i.e. 5%) , subject to the approval of the shareholders.

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Brahmaputra Infrastructure to hold board meeting
Jun 01,2017

Brahmaputra Infrastructure will hold a meeting of the Board of Directors of the Company on 10 June 2017.

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RDB Realty & Infrastructure to hold board meeting
Jun 01,2017

RDB Realty & Infrastructure will hold a meeting of the Board of Directors of the Company on 6 June 2017.

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Venlon Enterprises to hold board meeting
Jun 01,2017

Venlon Enterprises will hold a meeting of the Board of Directors of the Company on 31 July 2017.

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Sustained increase in new orders underpin output growth: Nikkei India Manufacturing PMI
Jun 01,2017

The Indian manufacturing sector stayed in expansion mode in May as a further upturn in new business supported output growth. That said, rates of increase eased in both cases. Spending patterns varied, with employment down but quantities of purchases up from April. Meanwhile, input costs rose at the slowest rate since last September, whereas charge inflation accelerated. With regards to future performance, goods producers were at their most optimistic in six months.

Remaining above the no-change mark of 50.0 in May, the headline Nikkei India Manufacturing Purchasing Managers IndexTM (PMITM) signalled a further improvement in operating conditions. That said, the PMI was down from 52.5 in April to a three-month low of 51.6.

May data pointed to softer expansions in both new orders and production. Incoming new work rose at the weakest pace since February, with slowdowns evident in the consumer and intermediate goods categories. Capital goods producers, meanwhile, recorded a contraction in order books. Output growth across the manufacturing sector as a whole was at a three-month low.

Businesses further increased their purchasing activity during May. Moreover the upturn in buying levels was more pronounced than in April. Subsequently, stocks of purchases rose, with the pace of accumulation the quickest in the current three-month sequence of growth.

On the other hand, holdings of finished goods decreased in May as companies sought to fulfil orders from stocks. The rate of depletion was sharp, and the most pronounced since August 2015. Quicker reductions in post-production inventories were seen in each of the three monitored market groups.

International demand for Indian-manufactured goods deteriorated in May, as signalled by a decline in new export orders. The contraction was only slight, but ended a three-month sequence of growth.

Amid reports of the non-replacement of voluntary leavers and shortages of suitable labour, manufacturing jobs in India decreased in May. The fall in staff numbers was centred on the intermediate goods category, with marginal growth noted elsewhere.

Concurrently, outstanding business volumes rose again, marking a one-year sequence of accumulation. Despite accelerating since April, the pace of expansion in backlogs was modest.

Cost burdens facing Indian goods producers continued to rise in May, with chemicals, metals, paper and plastics all reported to be up in price. The rate of inflation softened to the slowest in eight months, however, and was below the long-run series average. In contrast, factory gate charges increased at a slightly quicker pace than in April.

Business confidence improved in May, with firms expecting new product launches, machinery acquisitions and marketing campaigns to support output growth in the year ahead. Moreover, the degree of optimism climbed to a six-month high.

Commenting on the Indian Manufacturing PMI survey data, Pollyanna De Lima, Economist at IHS Markit and author of the report, said: The upturn in the Indian manufacturing sector took a step back in May, with softer demand causing slower expansions in output and the amount of new work received by firms. Moreover, there was a renewed decline in new export orders.

Echoing a more positive tone, the PMI dataset highlighted a stronger increase in businesses input purchasing, while optimism reached a six-month peak. Additionally, cost inflationary pressures cooled.

With inflation under control and manufacturing growth below par, we may see the RBI changing neutral monetary policy stance to accommodative in coming months in order to support the economy.

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Kolte-Patil gains after providing update on project in Pune
Jun 01,2017

The company made the announcement after market hours yesterday, 31 May 2017.

Meanwhile, the S&P BSE Sensex was up 21.44 points or 0.07% at 31,167.24. The S&P BSE Small-Cap index was up 114.21 points, or 0.76% at 15,194.42.

On BSE, so far 8,869 shares were traded in the counter, compared with an average volume of 1.20 lakh shares in the past one quarter. The stock hit a high of Rs 181.80 and a low of Rs 179.50 so far during the day. The stock had hit a 52-week high of Rs 204 on 26 April 2017. The stock hit a 52-week low of Rs 78.75 on 27 December 2016.

The stock had underperformed the market over the past one month till 31 May 2017, falling 5.02% compared with 4.1% gains in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 65.25% as against Sensexs 8.36% gains. The scrip had also outperformed the market in past one year, gaining 39.63% as against Sensexs 16.79% gains.

The small-cap company has an equity capital of Rs 75.77 crore. Face value per share is Rs 10.

Kolte-Patil Developers said that the company has completed Phase I of its Three Jewels Project. Phase I has a saleable area of 0.73 million square feet and comprises 812 apartments with a mix of 1, 2 and 2.5 BHKs and 40 shops. The project is located on a 15 acre land parcel located within Pune city limits, in the prime Katraj-Kondwa area of South Pune.

Phase II of the project comprises 754 apartments spread over 0.75 million square feet, and is currently underway, Kolte-Patil Developers said. The project has received a good response and appreciation from the home seekers in Pune and nearby cities from the western Maharashtra region, the company said.

On a consolidated basis, Kolte-Patil Developerss net profit rose 65.01% to Rs 29.80 crore on 60.91% rise in total revenue to Rs 336.78 crore in Q4 March 2017 over Q4 March 2016.

Kolte-Patil Developers is a real estate company with dominant presence in Pune residential market. The company has executed projects in multiple segments - standalone residential buildings and integrated townships.

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Future Market climbs on acquiring further stake in JV
Jun 01,2017

The announcement was made after market hours yesterday, 31 May 2017.

Meanwhile, the S&P BSE Sensex was down 8.90 points, or 0.03%, to 31,136.90. The S&P BSE Small-Cap index was up 109.19 points, or 0.72%, to 15,189.40.

On the BSE, 1,178 shares were traded in the counter so far, compared with an average volume of 31,640 shares in the past one quarter. The stock had hit a high of Rs 74.15 and a low of Rs 70.50 so far during the day. The stock had hit a 52-week high of Rs 93.95 on 15 March 2017. The stock had hit a 52-week low of Rs 17.60 on 7 June 2016.

The stock had dropped 6.71% in three sessions to Rs 70.10 yesterday, 31 May 2017 from a close of Rs 75.15 on 26 May 2017.

The stock had underperformed the market over the past one month till 31 May 2017, falling 14.3% compared with 4.1% gains in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 30.78% as against Sensexs 8.36% gains. The scrip had also outperformed the market in past one year, gaining 202.16% as against Sensexs 16.79% gains.

The small-cap company has equity capital of Rs 56.29 crore. Face value per share is Rs 10.

Future Market Networks announced that it executed a share purchase agreement (SPA) with IL&FS Township and Urban Assets (ITUAL) to acquire 50% equity share capital namely, 1.5 crore equity shares held by ITUAL in Future Retail Destination (FRDL).

FRDL is set up for development of infra logistic parks across India as a special purpose vehicle company. FRDL shall become wholly owned subsidiary of the company upon completion of the transaction.

The total consideration payable by the company under the SPA is Rs 14 crore. In terms of the SPA, the company has paid an amount of Rs 9 crore and the balance consideration of Rs 5 crore shall be paid on or before 30 September 2018.

On 22 May 2017, at the time of announcement of Q4 results, the board had approved purchase of 50% equity shares held by IL&FS Township & Urban Assets in the joint venture company set up for development of infra logistic park pursuant to a joint venture agreement dated 18 April 2012.

Future Market Networks reported net loss of Rs 8.64 crore in Q4 March 2017 compared with net profit of Rs 53.18 crore in Q4 March 2016. Net sales rose 6.9% to Rs 23.7 crore in Q4 March 2017 over Q4 March 2016.

Future Market Networks aims to amend the outdated wholesale infrastructure, improve the supply chain and clear logistics bottlenecks to bridge the efficiency gap between demand and supply.

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ICICI Bank allots equity shares
Jun 01,2017

ICICI Bank on 30th May 2017 has allotted 234,210 shares of Rs 2 each under the Employee Stock Option Scheme, 2000.

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Gravita starts commercial production of PET
Jun 01,2017

Gravita Nicaragua S.A., a step subsidiary of Gravita India has started commercial production of recycling of PET Flakes by installing a modern PET Hot Wash Line with an annual capacity of 6000 MTPA.

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Aptech fixes record date for interim dividend
Jun 01,2017

Aptech has fixed June 3rd 2017 as the Record Date for the purpose of payment of interim dividend of Rs 3 per share (30%) of Rs 10 each.

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4 mega food parks to become operational in next 3 months; 300 new cold chain proposals received: Sadhvi Niranjan Jyoti
Jun 01,2017

Up to four mega food parks will become operational during the course of next three months, Union Minister of State for Food Processing Industries, Sadhvi Niranjan Jyoti said at an ASSOCHAM event.

n++Only two mega food parks became operational between 2009 and 2014 whereas six mega food parks became operational between 2014 and 2017 likewise 42 mega food parks will become operational by 2019,n++ said Sadhvi Jyoti.

Highlighting that the government sanctioned 63 cold chain projects since 2014, the Union Minister said, n++We have received 300 proposals for setting up new cold chain projects, which shows that industry across India is taking interest in food processing sector as we have received many applications from north-eastern states like Nagaland, Manipur and others.n++

She said that while the government is working at a rapid pace for development of food processing sector, the industry should impart training to the farmer to take utmost care of quality of produce.

The Union Minister said that she had suggested her Ministry to provide storage facilities for perishable products in the market itself like for wheat and rice, so that farmer can take it to the desired place later. n++I hope this suggestion will be considered by the cabinet.n++

Talking about her recent meeting with Uttar Pradesh (UP) chief minister, Yogi Aditya Nath, the Union Minister said, n++We and the state government will ensure that land, power, safety and all sorts of facilities will be provided to industrialists willing to set up food park in the state.n++

She said that she was surprised to note that there was not even a single food park in such a huge state which is equivalent to a countrys size.

Earlier, while addressing the ASSOCHAM conference, Mr D.K. Singh, chairman, APEDA (Agricultural and Processed Food Products Export Development Authority) said that his organisation is working on horticulture sector to increase export basket.

He informed that APEDA is trying to export and promote mangoes in a big way.

n++When we think of a business plan in logistics development we must also think those aspects which are relevant in a particular market,n++ said Mr Singh highlighting that feedback received from Korea on export of mangoes was not good, in terms of quality, packaging and other related issues.

n++We realised that we focus only on the backward integration in the system but we never thought what is the co-relation and forward linkages up to the country where it is reaching,n++ he added.

He rued the fact that logistics for cold chain for import items is better than for the export items as those products have to be brought and quickly distributed to the consumers.

n++That segment is well off and the industry is ready for a distribution network but not for exports and industry is not ready to work with farmers,n++ said the APEDA chief.

He added that merely creating few cold storage for potato, apple, grapes would not be sufficient in order to increase farmers income, as such a system needs to be put in place to collect the farmers produce at the farm, sort it, grade it in next 5-6 hours and then transport to a place having pre-cooling facility and from there to the pack house for higher level of packaging and processing and then from that point it is taken to the port for export.

n++So the entire chain has to be addressed and preferably by a chain of operators who have interest in the entire value chain,n++ said Mr Singh.

n++We are working on a scheme for next three years where we have made for the first time significant role for service provider in a big way and our proposal is that EFC stays and once our approval of EFC comes the scheme will be implemented and we will seek suitable and viable proposals from service providers who are ready to work with the farmers and for exports,n++ further said the APEDA chairman.

Dr Shakil Ahmed, joint secretary, Department of Agriculture and Cooperation stressed upon the need for industry and government collaboration in areas like applied research, in developing crop/product specific detailed protocol of cold chain management as that would help lot of start-ups to come up and really work for the development of this sector and even the government is more than willing to support in terms of infrastructure facility in this regard.

n++Industry should play more active role. We have identified more than 52 sectors in clusters that are export oriented zones in the country of which 10 have almost started working as such the industry should come up in a big way and collaborate,n++ said Dr Shakil.

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