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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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Hero MotoCorp slips after Q2 results
Oct 27,2016

The result was announced after market hours yesterday, 26 October 2016.

Meanwhile, the BSE Sensex was down 84.44 points, or 0.30%, to 27,752.07.

On BSE, so far 17,000 shares were traded in the counter, compared with average daily volume of 30,487 shares in the past one quarter. The stock hit a high of Rs 3,470 and a low of Rs 3,385.35 so far during the day. The stock hit a record high of Rs 3,739.90 on 8 September 2016. The stock hit a 52-week low of Rs 2,375 on 18 January 2016. The stock had outperformed the market over the past 30 days till 26 October 2016, falling 0.84% compared with 1.37% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 7.18% as against Sensexs 1.32% decline.

The large-cap company has equity capital of Rs 39.94 crore. Face value per share is Rs 2.

Hero MotoCorps earnings before interest, taxes, depreciation and amortization (EBITDA) margin improved to its highest-ever 16.20% in Q2 September 2016, as against 14.91% in Q2 September 2015 aided by softer commodities and cost control measures.

The company reported highest ever quarterly sales of 18.23 lakh units in Q2 September 2016, up 15.8% compared with 15.74 lakh units in Q2 September 2015.

Pawan Munjal, Chairman, Managing Director & Chief Executive Officer, Hero MotoCorp, said the highest-ever volume sales during the quarter is a reiteration of the overwhelming customer preference of the companys products. At the same time, the company has also delivered on its commitment of further strengthening its profitability by crossing the threshold Rs 1000 crore in PAT for the first time in a quarter. The domestic market has seen a revival in the past two quarters due to an above-average monsoon and positive consumer sentiment. The trend is expected to continue through the year and likely to result in double-digit growth for the industry. In the global markets, however, the industry continues to face headwinds due to volatile business environment driven by continued weakness in crude prices and sharp depreciation of local currencies.

Meanwhile, in a separate announcement, Hero MotoCorp said that its board of directors approved an investment of up to Rs 205 crore, in one or more tranches, for approximately 26-30% shareholding in Ather Energy. Ather is a Bangalore-based technology start-up engaged in the business of designing and manufacturing smart Electric Vehicles (EV) and associated charging infrastructure. The said strategic investment is subject to execution of definitive agreements and completion of certain conditions customary for a transaction of this nature.

As the market leader and a global automotive major, Hero MotoCorp takes the lead in many areas that benefit the environment, customer and the industry. Adoption of environment-friendly fuel is a priority for Hero MotoCorp, as is propagating sustainable manufacturing through green facilities. Hero MotoCorp intends to enhance its participation in the EV space by pursuing its internal EV program in addition to partnering with Ather.

Hero MotoCorp is the worlds largest two-wheeler manufacturer in terms of production capacity.

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Sub- Extension of Period for applying of renewal for GMDSS-GOC License
Oct 27,2016

The Ministry of Communication has extended the period for applying of Renewal of Global Management Distress Safety System General Operators Certificate (GMDSS-GOC) License from three months to six months prior to its expiry vide notification No. GSR 186 dated 4th October 2016. This will enable the officers to have adequate time required to renew their GMDSS-GOC license and they will be able to sail on ships without any delay in future.

The Standard of Training and Certification of watch keeping mandates all Nautical Grade Officers to hold a valid GMDSS-GOC license issued by Ministry of Communication to operate the Communication and GMDSS equipment on board Merchant Ships. The certificate is valid for ten years and subsequently renewed every five years.

As per the existing rules, Indian Merchant Navy Navigating officers could apply for renewal of their license only three months prior to expiry of license whereas the contract period of an officer/seafarer to work on board varies from 6-8 months. Therefore it was difficult for them to get their license renewed in time prior to sailing and had to delay their sailing. In view of the longer employment duration and to ensure validity of GMDSS-GOC during currency of service period, Ministry of Shipping had requested Ministry of Communication for increasing the period to apply for renewal six months prior to expiry of GMDSS-GOC, which has been agreed to.

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Safety of LPG consumers and the households is the prime concern while distributing new LPG connections
Oct 27,2016

Government of India is committed to provide LPG as a clean cooking fuel across India through Pradhan Mantri Ujjwala Yojana (PMUY). More than 90 Lakh new connections have been released to the women from BPL households in the last 6 months.

Safety of LPG consumers and the households is the prime concern of the Government as well as the Oil Marketing Companies(OMCs) while distributing new LPG connections - whether under PMUY or otherwise. While issuing new connections to the beneficiaries, Safety/Insurance handouts with pictorial depictions have been given to them. A Safety briefing is also being imparted to the beneficiaries at the time of installation of LPG connection. In addition, Safety melas/ Safety Clinics are being organized in the villages to make the new consumers aware of the safety procedures. These efforts are being further stepped up to avoid any unfortunate incidents related to the use of LPG.

Ministry of Petroleum and Natural Gas is also continuously monitoring the settlement of Insurance claims related to past LPG accidents and monthly meetings are being held with the Insurance Companies and OMCs on the subject. The pendency in this regard has come down from 51% in June 2016 to 33.76% in October 2016 and all efforts are being made to clear all pending cases in 3 months.

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Hero MotoCorp in focus after good Q2 results
Oct 27,2016

Hero MotoCorps net profit rose 27.74% to Rs 1004.22 crore on 15.33% increase in total income to Rs 8601.10 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 26 October 2016.

Earnings before interest, taxes, depreciation and amortization (EBITDA) margin improved to its highest-ever 16.20% in Q2 September 2016, as against 14.91% in Q2 September 2015 aided by softer commodities and cost control measures.

Pawan Munjal, Chairman, Managing Director & Chief Executive Officer, Hero MotoCorp, said the highest-ever volume sales during the quarter is a reiteration of the overwhelming customer preference of the companys products. At the same time, the company has also delivered on its commitment of further strengthening its profitability by crossing the threshold Rs 1000 crore in PAT for the first time in a quarter. The domestic market has seen a revival in the past two quarters due to an above-average monsoon and positive consumer sentiment. The trend is expected to continue through the year and likely to result in double-digit growth for the industry. In the global markets, however, the industry continues to face headwinds due to volatile business environment driven by continued weakness in crude prices and sharp depreciation of local currencies.

Meanwhile, in a separate announcement, Hero MotoCorp said that its board of directors approved an investment of up to Rs 205 crore, in one or more tranches, for approximately 26-30% shareholding in Ather Energy. Ather is a Bangalore-based technology start-up engaged in the business of designing and manufacturing smart Electric Vehicles (EV) and associated charging infrastructure. The said strategic investment is subject to execution of definitive agreements and completion of certain conditions customary for a transaction of this nature.

As the market leader and a global automotive major, Hero MotoCorp takes the lead in many areas that benefit the environment, customer and the industry. Adoption of environment-friendly fuel is a priority for Hero MotoCorp, as is propagating sustainable manufacturing through green facilities. Hero MotoCorp intends to enhance its participation in the EV space by pursuing its internal EV program in addition to partnering with Ather.

GlaxoSmithKline Pharmaceuticals, Glenmark Pharmaceuticals, Indian Oil Corporation (IOC), JSW Steel, Jubilant Life Sciences, Maruti Suzuki India, ONGC, Tech Mahindra and TVS Motor Company will declare July-September 2016 quarter results today, 27 October 2016.

Hindustan Unilevers (HUL) net profit rose 11.54% to Rs 1095.60 crore on 2.22% growth in total income to Rs 8733.09 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 26 October 2016. During the quarter, in a challenging context where market growth continued to be under pressure, HULs domestic consumer business grew at 2% and EBITDA (earnings before interest, taxation, depreciation and amortization) margin expanded by 60 basis points (bps), the company said. HULs profit after tax before exceptional items, PAT (bei) grew by 9% to Rs 1082 crore in Q2 September 2016 over Q2 September 2015.

Harish Manwani, Chairman of HUL commented that in challenging market conditions, the company delivered another quarter of profitable growth. The company remains focused on market development, consumer led innovations and an even sharper drive on operating efficiences. With a good monsoon, the company expects a gradual improvement in market demand and remain positive on the mid-long term outlook for the industry, Manwani said. HULs strategic agenda of delivering consistent, competitive, profitable and responsible growth remains unchanged, he added.

Sun Pharmaceutical Industries announced after market hours yesterday, 26 October 2016, the execution of definitive agreements by its wholly owned subsidiary for the acquisition of 100% of Ocular Technologies, Sarl (OTS), a portfolio company of Auven Therapeutics (Auven), an international private equity company focused on accelerated development of breakthrough therapeutic drugs. OTS owns exclusive, worldwide rights to Seciera (cyclosporine A, 0.09% ophthalmic solution). Sun Pharma will pay Auven $40 million upfront, plus contingent development milestones and sales milestones as well as tiered royalty on sales of Seciera as consideration for this acquisition.

Seciera is currently in a Phase-3 confirmatory clinical trial for the treatment of Dry Eye Disease, an inflammatory ocular disease affecting approximately 16 million people in the United States alone. Seciera is a patented, novel, proprietary formulation of cyclosporine A 0.09%. It is a clear, preservative-free, aqueous solution. In a completed Phase 2b/3 clinical trial in 455 patients, Seciera demonstrated a rapid onset of action and was well tolerated by the study population. Based on the published data in literature, the efficacy and safety endpoints in these trials compared favorably to other formulations of cyclosporine A.

The transaction is subject to approval of the US Federal Trade Commission as required under the Hart-ScottRodino Act and other closing conditions, and is expected to be completed by end of 2016.

State Bank of India (SBI) announced after market hours yesterday, 26 October 2016, that a meeting of the central board of the bank is scheduled to be held on 29 October 2016 to consider raising of equity share capital through preferential issue of equity shares to the Government of India.

Cummins Indias net profit declined 0.53% to Rs 196.90 crore on 5.64% growth in total income to Rs 1429.13 crore in Q2 September 2016 over Q2 September 2015. The companys gross sales rose 5% to Rs 1331 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 26 October 2016.

Anant J. Talaulicar, Chairman & Managing Director (CMD) of Cummins India said that the companys exports continue to face headwinds due to the macroeconomic situation. The company continues to make inroads and gain market share domestically, Anant said. Government led investments in roadways and railways continued to drive Cummins sales growth in the industrial engine segment, the CMD added. Despite exports revenues remaining depressed, the companys strong focus on cost optimization and efficiency improvement has helped it sustain its profitability, Anant said. Cummins remains committed to investing in customer-centric, fit-for-market products and technologies as well as in leadership and diverse talent development to continue delivering profitable growth in the future, Anant said.

Tata Power Company will be in focus. With reference to media report suggesting, Ousted Tata Chief Says Group Faces $18 Billion in Writedowns, the company clarified after market hours yesterday, 26 October 2016, that it has examined the news article with comments purported to have been made by ex-chairman of Tata Sons regarding the companys Mundra ultra power project. The company has always made all relevant disclosures, as required, and has no further comments to offer.

Lakshmi Machine Works announced after market hours yesterday, 26 October 2016, that its board of directors has approved the buyback of 3.11 lakh equity shares, or 2.76% equity, of the company at Rs 4,450 per share, aggregating to an amount of Rs 138.39 crore.

Edelweiss Financial Services after market hours yesterday, 26 October 2016 announced that ICRA has assigned the rating of [ICRA]A1+ (ICRA A one plus) to the proposed short term debt programme of Rs 3000 crore of the company. CRISIL has assigned the rating of CRISIL A1+ (CRISIL A one plus) to the proposed short term debt issue of Rs 3000 crore of the company.

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Board of Raymond approves composite scheme of arrangement
Oct 26,2016

Raymond announced that the Board of Directors of the Company at its meeting held on 26 October 2016 approved a composite scheme of arrangement of Raymond Apparel, wholly owned subsidiary of the Company and Colorplus Fashions, wholly owned subsidiary of Raymond Apparel.

The above scheme has been approved by the Board of Raymond Apparel and Colorplus Fashions and the same is subject to approval of High Courts and others.

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Union Bank of India to consider raising capital funds
Oct 26,2016

Union Bank of India announced that that the Banks Committee of Directors for raising of Capital Funds at its meeting held on 26 October 2016 discussed the capital position of the Bank and advised to raise up to Rs. 2900 crore of debt capital by 31 March 2017 by way of issue of Basel III compliant Perpetual Debt Instruments (Additional Tier 1) and / or Basel III compliant Tier 2 bonds in foreign currency and / or Indian rupee, at par, through public offer / private placement to overseas and / or Indian investors, in such number of tranche(s), at such time(s) as may be considered appropriate and on such coupon(s) as may be decided at the time of actual issuance.

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Board of Interface Financial Services considers change in registered office
Oct 26,2016

Interface Financial Services announced that the Board of Directors of the Company at its meeting held on 26 October 2016, inter alia, has considered the following:

- To shift Registered office of the Company from 806, Saffron Building, Panchvati to Ambawadi Road, Ambawadi, Ahmedabad-380006, Gujarat To 102, Dev Prime, Nr. Makarba Crossing, Makarba, Ahmedabad - 380051, Gujarat with immediate effect.

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Board of Coromandel International approves alteration to Articles of Association
Oct 26,2016

Coromandel International announced that the Board of Directors of the Company at its meeting held on 26 October 2016 has approved the alteration to the Articles of Association (AoA) of the Company, by replacing the existing AoA with a new AoA, subject to approval of shareholders.

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National Aluminium Company announces cessation of director
Oct 26,2016

National Aluminium Company announced Nikunja Bihari Dhal, Joint Secretary, Ministry of Mines has ceased to be Director on the Board of the Company w.e.f 20 October 2016, vide Order dated 20 October 2016 of Ministry of Mines, Government of India.

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Exide Industries revises record date for interim dividend
Oct 26,2016

Exide Industries has fixed 05 November 2016 as the Revised Record Date for the purpose of Payment of Interim Dividend.

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Granules India gets High Court approval for scheme of amalgamation
Oct 26,2016

Granules India announced that High Court of Hyderabad has sanctioned the scheme of amalgamation whereby GIL Lifesciences (Transferor Company and Wholly owned subsidiary) stands amalgamated with Granules India. The certified true copy of the Court order was filed with the Registrar of Companies on 26 October 2016. Consequent to the above, the scheme has become effective on 26 October 2016 with appointed date being 01 April 2016.

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Digital Media Broadcasting to Play a Critical Role in Bringing About Change in Sports Broadcasting in India Says Sports Minister
Oct 26,2016

The Minister of state (I/C) for Youth Affairs and Sports Shri Vijay Goel has said that digital media broadcasting will play a critical role in bringing about change in sports broadcasting in India. He said increasing penetration of internet, mobile devices and cheaper data services especially in rural areas will prove game changer in this direction. He said Broadcasters must focus on how sports are delivered to these audiences.

Shri Goel said, data suggests that more than 60% of the Digital Audiences in India is within the age group of 13-35 years. This is the base that Sports needs to capture to build up the overall Business of Sports. He said, there is a need for Brands and Advertisers to come forward and recognize the power of Sports delivered to young India with respect to both, a Return on Investment and Corporate Social Responsibility aspect.

The Minister said, the Government is committed to work towards building up a culture of sports and improving the business of sports. All stakeholders must work towards this common objective. He said it is his belief that Broadcasters focused on innovative ways to reach out to youth would be the real game-changers and will create a far greater impact on the overall business of Sports in India.

Outlining the importance of sports Shri Goel said, it is evident that more and more people are taking up sports. Sports in India has already taken its first step in the right direction in the last 3 years. A majority of Sports Leagues have been launched including Football, Kabaddi, Wrestling, Hockey, Tennis, Badminton and more. He said, this has been made possible by persistent efforts by various stakeholders. A large talent pool in sports such as Football, Kabaddi, Hockey, etc. has mass appeal. This has not only impacted Sports as entertainment but also the Tourism and Infrastructure sectors.

The Minister said, packaging of the Sports League as Entertainment has been the game changer. This clearly reflects in more than 450 million viewers of Indian Super League. The most interesting revelation has been Pro Kabaddi League with a viewership of more than 500 million.

He said, what is even more interesting to note is, that some of these leagues have more than 40% female viewers on television. Innovative media campaigns around new sports have been the force behind the increasing Sponsorship Revenues. All Media platforms including TV, Radio, Print, Digital and off Air have played a crucial role in the success of the newer leagues. Advertisers and Investors must recognize that without a talent pool of sportspersons, this will be tough to sustain.

Shri Goel said, sports must become an integral part of our society and value system as it has the power to shape India as one of the most competitive nations in the world.

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Edelweiss Financial Services gets ratings assigned for ST debt programme
Oct 26,2016

Edelweiss Financial Services that:

1. ICRA has assigned the rating of [ICRA]A1+ (ICRA A one plus) to the proposed Short Term Debt Programme of Rs. 3,000 crore of the Company.

2. CRISIL has assigned the rating of CRISIL A1+ (CRISIL A one plus) to the proposed Short Term Debt Issue of Rs. 3000 crore of the Company.

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PNB Gilts standalone net profit rises 183.05% in the September 2016 quarter
Oct 26,2016

Net profit of PNB Gilts rose 183.05% to Rs 70.14 crore in the quarter ended September 2016 as against Rs 24.78 crore during the previous quarter ended September 2015. Sales rose 69.73% to Rs 175.25 crore in the quarter ended September 2016 as against Rs 103.25 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales175.25103.25 70 OPM %97.7196.89 - PBDT107.0235.53 201 PBT106.9435.42 202 NP70.1424.78 183

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Shriram Asset Management Co reports standalone net loss of Rs 0.51 crore in the September 2016 quarter
Oct 26,2016

Net Loss of Shriram Asset Management Co reported to Rs 0.51 crore in the quarter ended September 2016 as against net loss of Rs 0.60 crore during the previous quarter ended September 2015. Sales rose 21.05% to Rs 0.23 crore in the quarter ended September 2016 as against Rs 0.19 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.230.19 21 OPM %-226.09-326.32 - PBDT-0.50-0.59 15 PBT-0.51-0.60 15 NP-0.51-0.60 15

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