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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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Titaanium Ten Enterprise provides performance update for FY 2017
Apr 05,2017

Titaanium Ten Enterprise announced that compared to the last financial years turnover; the companys turnover has increased by approximately 20% during the FY 2016-17. Recently the company has installed two new Single Jersey Machines. The company plans to increase the production during the FY 2017-18 and for that the company is planning to install new machines namely Double Jersey Machine, Raschel Jacquard Machine, Tricot Warp Knitting Machine and Warping Machine.

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Creative Merchants director resigns
Apr 05,2017

Creative Merchants announced that Pankaj Jadav, Director of the Company has resigned from the Board of Company w. e. f. 05 April 2017.

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MGNREGS - Governance transformation and water conservation thrust areas in 2016-17
Apr 05,2017

The financial year 2016-17 witnessed an unprecedented governance transformation in MGNREGS with a sustained thrust on water conservation. With over 82% active workers (9.1 crore) with Aadhaar seeding in NREGA Soft, 4.6 crore workers on Aadhaar Based Payment Bridge, electronic payment of 96% wages through Bank/Post Office accounts, more than 89 lakh assets geo tagged so far, 93 lakh job cards deleted so far through proper verification, large scale drought proofing water conservation works in rainfall deficient regions, MGNREGS established itself as a well governed programme creating durable assets for livelihood security in poor regions, while providing employment on demand.

For the first time, deprivation levels of States were taken into account while approving Labour Budget. The April to July period in the financial year2016-17 witnessed an unprecedented demand for work on account of the continued drought. Thereafter, on account of a good monsoon in over 75% districts, the demand remained concentrated in drought affected regions like Karnataka. December onwards, as happens every year, demand for work again rose. MGNREGS achieved 230 crore person days which is higher than the revised labour budget. The total provisional expenditure of Rs. 58,056Crore (Central plus State) is the highest ever in MGNREGS in any year. 56% women in the wage employment generated is also the highest ever.

The pace for water conservation was set by the Prime Ministers meetings on water conservation with the Chief Ministers of the drought affected States. States undertook their region specific unique water conservation initiatives using MGNREGS resources. MukhyaMantri Jal Swalamban Yojana to drought proof 3200 villages with 92000 water conservation structures in Rajasthan, Dobhas or farm ponds in clusters in every revenue villages of Jharkhand, NeeruChettu in Andhra Pradesh with thrust on farm ponds, Mission Kakatiya in Telengana, Kapildhara dug wells in Madhya Pradesh, Jal YuktaShivar and other water conservation measures in Maharashtra, all used MGNREGS as a resource for drought proofing for livelihood security. 15.47 lakh water related works were completed in FY 2016-17 including 5.66 lakh farm ponds. Nearly 90 lakh hectares of irrigation potential has been created through MGNREGS in FY 2015-16 and FY 2016-17, as revealed by the new practice of preparing Annual Performance Outcome Report of MGNREGS. An independent, multi- institution, multi disciplinary evaluation of all the water conservation works taken up in FY 2015-17 period under MGNREGS is being undertaken to ascertain the impact. The Report will be ready by 30 September 2017.

MGNREGS promoted large scale individual beneficiary schemes (over 14.61 lakh beneficiaries) for livelihood security like construction of poultry, goat breeding and dairy sheds; farm ponds and dug wells; support for housing and individual household latrines (IHHLs) in FY 2016-17. It also undertook innovative convergence initiatives for solid waste management in 11000 villages of Tamil Nadu and constructed over 4 lakh magic pits for liquid waste management inTelengana, Andhra Pradesh, Maharashtra, and many other States. To move unskilled MGNREGS workers up the skilling ladder, 29704 were trained for self-employment at Rural Self Employment Training Centres, 3812 were trained to become Barefoot Technicians, besides placement based wage employment to over 3000 workers under DDUGKY and training of Rural Masons under PMAY (Gramin).

In FY 2016-17 there was considerable emphasis on completion of incomplete works. More than 56 lakh works have been completed during the year which is the highest since the inception of the programme. Nearly 68% of the expenditure was on agriculture and allied activities and 62% of the expenditure was on Natural Resource Management works (NRM). In collaboration with the Ministry of Water Resources, the Ministry of Agriculture and Farmers Welfare and Department of Land Resources, Mission Water Conservation guidelines were issued. 22 States held State level workshop on Mission Water Conservation with representatives from all relevant departments including Central Water Ground Board (CGWB) and State Remote Sensing Centre. States have been advised to ensure that not less than 65% of the expenditure in 2264 identified water stressed blocks will be pertaining to water conservation and water management in FY 2017-18.

Reduction in the delay in payment of wages will be a major thrust area for the Ministry in FY 2017-18. While States like Andhra Pradesh, Telangana, Rajasthan, Jharkhand and Kerala are ensuring timely payment in 75% or more number of transactions, other States are lagging behind. The Ministry will be focusing on handholding other States and monitoring this item of work very closely so as to ensure timely payments of wages. Besides, social audits based on notified auditing standards, with the help of women SHG members as village resource persons will be another key area of work in the FY 2017-18.The Department shall release funds to States in early April to enable full scale water conservation works during the period of need.

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IL&FS Transportation nudges higher after raising funds
Apr 05,2017

The announcement was made on Tuesday, 4 April 2017, when the stock markets were shut on account of local holiday.

Meanwhile, the S&P BSE Sensex was up 61.40 points, or 0.21%, to 29,971.62. The S&P BSE Mid-Cap index was up 71.72 points, or 0.51%, to 14,261.41.

On the BSE, 1.16 lakh shares were traded in the counter so far, compared with average daily volume of 1.35 lakh shares in the past one quarter. The stock had hit a high of Rs 113.90 and a low of Rs 111.60 so far during the day.

The stock had hit a 52-week high of Rs 124.80 on 12 January 2017. The stock had hit a 52-week low of Rs 65.85 on 19 August 2016. The stock had outperformed the market over the past one month till 3 April 2017, gaining 11.29% compared with the Sensexs 3.74% rise. The scrip had, however, underperformed the market over the past one quarter, rising 0.04% as against the Sensexs 12.26% rise.

The mid-cap company has equity capital of Rs 328.96 crore. Face value per share is Rs 10.

IL&FS Transportation Networks said that the committee of directors approved on 31 March 2017, the allotment of 7,500 rated, listed, redeemable, non-convertible debentures of the face value of Rs 10 lakh each aggregating to Rs 750 crore on a private placement basis.

Separately, IL&FS Transportation on the same day announced the commencement of commercial operation of Metro Link from Sikenderpur to Sector 56 in Gurgaon, Haryana.

Rapid MetroRail Gurgaon Extension project awarded by The Haryana Urban Development Authority to a consortium of IL&FS Transportation Networks and its subsidiary IL&FS Rail for developing the 6.5 kilometers rail Metro Link Extension from Sikenderpur to Sector 56 in Gurgaon, Haryana on a design, build, finance, operate and transfer basis commenced commercial operation from 31 March 2017.

The project has a concession period of 98 years and allows the concessionaire to collect and appropriate fare and non fare revenue from the project during concession period.

IL&FS Transportation Networks reported net profit of Rs 55.66 crore in Q3 December 2016 as against net loss of Rs 19.42 crore in Q3 December 2015. Net sales dropped 23.8% to Rs 763 crore in Q3 December 2016 over Q3 December 2015.

IL&FS Transportation Networks has grown into the largest BOT (build, operate and transfer) road assets owner in India.

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Bank of Baroda moves up after keeping MCLRs unchanged
Apr 05,2017

The announcement was made during market hours today, 5 April 2017.

Meanwhile, the S&P Sensex was up 40.21 points or 0.13% at 29,950.43.

On the BSE, 3.87 lakh shares were traded on the counter so far as against the average daily volumes of 16.23 lakh shares in the past one quarter. The stock had hit a high of Rs 176.40 and a low of Rs 172.20 so far during the day. The stock had hit a 52-week high of Rs 191.65 on 6 February 2017 and a 52-week low of Rs 128.40 on 24 May 2016.

The stock had outperformed the market over the past one month till 3 April 2017, gaining 7.81% compared with the Sensexs 3.74% rise. The scrip had also outperformed the market over the past one quarter, gaining 15.82% as against the Sensexs 12.26% rise.

The large-cap bank has equity capital of Rs 460.83 crore. Face value per share is Rs 2.

Bank of Barodas Marginal Cost of Funds based Lending Rate (MCLR) for overnight loans will be 8.1%, the rate for one month will be 8.15% and for three months it will be 8.2%. The MCLR on 6-month loans will be 8.3% and for one-year loans the rate will be 8.35%, the bank said. MCLR on three-year loans will be 8.5% and for five-year loans the rate will be 8.65%.

Bank of Baroda reported net profit of Rs 252.67 crore in Q3 December 2016, as compared with net loss of Rs 3342.04 crore in Q3 December 2015. Total income rose 3.9% to Rs 12181.04 crore in Q3 December 2016 over Q3 December 2015.

Government of India holds 59.24% stake in Bank of Baroda as on 31 December 2016 as per the shareholding pattern.

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Premier Explosives gains after allotment of land by APIIC
Apr 05,2017

The announcement was made yesterday, 4 April 2017. The stock market was closed on that day due to holiday.

Meanwhile, the S&P Sensex was up 47.71 points, or 0.16% at 29,957.93. The S&P BSE Small-cap index was up 160.97 points, or 1.1% at 14,781.20.

On the BSE, 15,000 shares were traded on the counter so far as against the average daily volumes of 4,598 shares in the past one quarter. The stock had hit a high of Rs 380 and a low of Rs 372 so far during the day.

The stock had hit a 52-week high of Rs 417.90 on 21 April 2016 and a 52-week low of Rs 304.50 on 23 November 2016. The stock had outperformed the market over the past one month till 3 April 2017, advancing 6.58% compared with the Sensexs 3.74% rise. The scrip had, however, underperformed the market over the past one quarter advancing 3.16% as against the Sensexs 12.26% rise.

The small-cap company has equity capital of Rs 8.86 crore. Face value per share is Rs 10.

Premier Explosives said that in response to its application, Andhra Pradesh Industrial Infrastructure Corporation (APIIC) has sent it a letter stating that APIIC is provisionally willing to offer 202 acres of land in Chittoor, Andhra Pradesh for establishing a unit to manufacture solid propellant.

The company has accepted the letter and will take necessary steps required for firm allotment of land and setting up the said unit.

Premier Explosives net profit rose 24.3% to Rs 2.30 crore on 15.4% increase in net sales to Rs 55.45 crore in Q3 December 2016 over Q3 December 2015.

Premier Explosives is one of the major companies in India manufacturing the entire range of commercial explosives and accessories for the civil requirement.

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Ind-Ra: Cement Volumes Crack; Credit Profile of Cement Manufacturers Intact
Apr 05,2017

The lagged impact of the cash crunch and electoral polls will take a toll on cement production in Q4FY17, latest data shows cement volumes in February 2017 declined the most in over a decade by 15.8% yoy, says India Ratings and Research (India Ratings). Volumes have declined by 5% mom. India Ratings notes that the decline in cement growth is also on account of a high base last year; during January-March 2016 cement production grew by 9.2%, 13.5% and 11.9% yoy respectively. India Ratings estimates cement production to be muted in 4QFY17.

On the prices front, the wholesale price index of grey cement and slag cement has shown a softening trend through November 2016-Janaury 2017. Cement players got some respite on the cost front, with pet-coke and coal prices showing moderation in January and February 2017, after pet-coke prices almost doubled since March 2016.

Volumes of pan India cement players in 3QFY17 contracted by 5% yoy; while for central and north based players fell by 3% and 6% respectively. The southern region in contrast showed strong volume growth of 21%. Growth in the southern region is led by an increased in government expenditure in the state of Andhra Pradesh and Telangana.

India Ratings analysis of the financials of cement companies in 3QFY17 showed, pan-India players median EBITDA per tonne declined marginally in 3QFY17 compared to 2QFY17; though remained comfortable at around INR975 per tonne; while median power and fuel and freight cost per tonne in 3QFY17 increased from 2QFY17 levels to INR977 and INR1,217 respectively. While the rest of Indias players median EBITDA per tonne declined QoQ in 3QFY17 to INR878; while power and fuel and freight cost per tonne in 3QFY17 declined marginally to INR771 and INR867 respectively. India Ratings expects pan-India players EBITDA per tonne to remain comfortable at around INR975-INR1,000; while players with a presence in rest of Indias EBITDA per tonne to be around INR850-875 in FY18.

The credit profile, in terms of EBITDA interest coverage for pan-India players declined marginally in 3QFY17; however remained comfortable at around 11x; though rest of India cement players EBITDA interest coverage ratio was stable at around 2x at the end of 3QFY17.

On the policy front, due to the recent measures announced by the Ministry of Railways that require long term agreements/contracts for industries like cement, steel and fertilisers cement companies may see improvement in demand. As per the policy, the Ministry of Railways will provide a minimum guaranteed volume linked discount, on the basis of incremental growth in gross freight revenue, in return for a commitment to provide a minimum guaranteed quantity of traffic. The discounts will range from 1.5% to 35%, as per the incremental growth in gross freight revenue. India Ratings believes that these initiatives will increase the transport of cement through rail and cement manufacturers will be able to control freight cost more effectively. However, Ind-Ra notes that rake availability during peak season and railway network are likely to act as constraint to this policy.

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Sobha leads gainers in A group
Apr 05,2017

Sobha jumped 20% to Rs 411.90 at 13:51 IST. The stock topped the gainers in the BSEs A group. On the BSE, 3.26 lakh shares were traded on the counter so far as against the average daily volumes of 77,000 shares in the past two weeks.

Godrej Properties surged 9.8% to Rs 441.35. The stock was the second biggest gainer in A group. On the BSE, 1.82 lakh shares were traded on the counter so far as against the average daily volumes of 36,000 shares in the past two weeks.

Den Networks gained 7.75% at Rs 91.10. The stock was the third biggest gainer in A group. On the BSE, 1.03 lakh shares were traded on the counter so far as against the average daily volumes of 49,000 shares in the past two weeks.

PVR advanced 7.85% at Rs 1,552.50. The stock was the fourth biggest gainer in A group. On the BSE, 27,000 shares were traded on the counter so far as against the average daily volumes of 17,000 shares in the past two weeks.

Unitech rose 7.3% to Rs 5.44. The stock was the fifth biggest gainer in A group. On the BSE, 68.66 lakh shares were traded on the counter so far as against the average daily volumes of 57.19 lakh shares in the past two weeks.

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Idea Cellular advances after getting RBI nod for payments bank
Apr 05,2017

The announcement was made during market hours today, 5 April 2017.

Meanwhile, the S&P Sensex was up 24.49 points or 0.08% at 29,934.71.

On the BSE, 12.86 lakh shares were traded on the counter so far as against the average daily volumes of 60.72 lakh shares in the past one quarter. The stock had hit a high of Rs 87.80 and a low of Rs 85.05 so far during the day.

The stock had hit a 52-week high of Rs 128.05 on 28 April 2016 and a 52-week low of Rs 66 on 9 November 2016. The stock had underperformed the market over the past one month till 3 April 2017, dropping 23.19% compared with the Sensexs 3.74% rise. The scrip had, however, outperformed the market over the past one quarter, gaining 15.66% as against the Sensexs 12.26% rise.

The large-cap company has equity capital of Rs 3605.33 crore. Face value per share is Rs 10.

Idea Cellular is holding 49% of the equity capital in Aditya Birla Idea Payments Bank (ABIPBL) and balance 51% of the equity capital is held by Aditya Birla Nuvo.

Shares of Aditya Birla Nuvo gained 1.99% to Rs 1,549.10.

On consolidated basis, Idea Cellular reported a net loss of Rs 383.88 crore in Q3 December 2016 compared with net profit of Rs 659.36 crore in Q3 December 2015. Net sales declined 3.7% to Rs 8660.74 crore in Q3 December 2016 over Q3 December 2015.

Idea Cellular is one of the leading telecom operators in India.

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Nila Infrastructures advances after securing work order
Apr 05,2017

The announcement was made on Tuesday, 4 April 2017, when the stock markets were shut on account of local holiday.

Meanwhile, the S&P BSE Sensex was up 28.12 points or 0.09% at 29,938.34. The BSE Small-Cap index was up 160.95 points or 1.1% at 14,781.18.

On the BSE, 5.77 lakh shares were traded on the counter so far as against the average daily volumes of 6.54 lakh shares in the past one quarter. The stock had hit a high of Rs 18.50 and a low of Rs 17.40 so far during the day.

The stock had hit a record high of Rs 19.90 on 6 February 2017 and a 52-week low of Rs 10.25 on 24 June 2016. The stock had underperformed the market over the past 30 days till 3 April 2017, falling 0.29% compared with Sensexs 3.74% rise. The scrip, however, outperformed the market in past one quarter, rising 16.08% as against Sensexs 12.26% gain.

The small-company has equity capital of Rs 39.34 crore. Face value per share is Re 1.

Nila Infrastructures said that with the latest order win, the company has forayed into yet another activity within civic urban infrastructure. AMC intends to construct a majestic community hall with all the latest amenities for the benefit of its citizens. The hall could be used for social, religious, and other general community purpose. The project involves built up construction of about 6000 sq. mtrs. and shall be completed within 24 months at an envisaged cost of Rs 15.57 crore.

Nila Infrastructures net profit rose 24.7% to Rs 5.61 crore on 17.7% growth in net sales to Rs 50.76 crore in Q3 December 2016 over Q3 December 2015.

Nila Infrastructures is engaged in developing civic urban infrastructure projects on EPC, turnkey, PPP mode, as well as private white label construction and Industrial infrastructure projects.

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Bank of Baroda reviews MCLR rates
Apr 05,2017

Bank of Baroda has reviewed its MCLR rates effective 07 April 2017 as under -

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

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V-Guard Industries to hold board meeting
Apr 05,2017

V-Guard Industries will hold a meeting of the Board of Directors of the Company on 19 May 2017 Accounts,Quarterly Results

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India and the UK announce joint UK-India Fund, namely a Green Growth Equity Fund
Apr 05,2017

India and the UK announced the launch of an Early Market Engagement for the joint UK-India Fund, namely a Green Growth Equity Fund which aims to leverage private sector investment from the City of London to invest in green infrastructure projects in India.

Both governments reaffirmed their commitment to anchor invest up to n++120 million each (i.e. totally n++ 240 million) in the joint fund which will be established under the NIIF framework. To begin with, the fund aims to raise around n++500 million, with the potential to unlock much more in future. This was announced at the bilateral meeting between Shri Arun Jaitley, the Honble Minister of Finance, Defence and Corporate Affairs, Government of India, and Rt Hon Philip Hammond MP, Chancellor of the Exchequer, Government of UK in Delhi yesterday. The two Finance Ministers announced that initial investments will focus on Indias rapidly growing green energy and renewable market and that a Fund Manager is expected to be selected in the next few months. Progress will be accelerated through early market engagement via the publication of a blueprint, with the aim to identify additional and complementary sectors for fund investments.

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Reliance Industries allots 55,970 equity shares
Apr 05,2017

Reliance Industries has allotted 55,970 equity shares of Rs.10/- each, on 03 April 2017 pursuant to the Employees Stock Option Scheme

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Volumes jump at Cholamandalam Investment and Finance Company counter
Apr 05,2017

Cholamandalam Investment and Finance Company clocked volume of 7.86 lakh shares by 12:40 IST on BSE, a 31.05-times surge over two-week average daily volume of 25,000 shares. The stock rose 0.89% to Rs 979.55.

Titan Company notched up volume of 5.24 lakh shares, a 9.39-fold surge over two-week average daily volume of 56,000 shares. The stock surged 5.79% to Rs 487.05.

Centrum Capital saw volume of 63.02 lakh shares, a 8.29-fold surge over two-week average daily volume of 7.6 lakh shares. The stock jumped 15.57% to Rs 40.45.

Prakash Industries clocked volume of 15.32 lakh shares, a 6.64-fold surge over two-week average daily volume of 2.31 lakh shares. The stock surged 6.33% to Rs 85.65.

Crompton Greaves Consumer Electricals saw volume of 31.08 lakh shares, a 6.62-fold rise over two-week average daily volume of 4.69 lakh shares. The stock dropped 1.58% to Rs 221 after a bulk deal of 20.09 lakh shares was executed on the scrip at Rs 221 per share at 10:19 IST on BSE.

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