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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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Balaji Amines declines after weak Q4 results
May 12,2017

The result was announced after market hours yesterday, 11 May 2017.

Meanwhile, the S&P BSE Sensex was down 42.55 points, or 0.14% at 30,208.43. The S&P BSE Small-cap index was down 115.45 points, 0.74% at 15,537.95.

High volumes were witnessed on the counter. On the BSE, 13,000 shares were traded on the counter so far as against the average daily volumes of 5,985 shares in the past one quarter. The stock had hit a high of Rs 375 and a low of Rs 350 so far during the day.

The stock had hit a record high of Rs 401.10 on 24 April 2017 and a 52-week low of Rs 195.40 on 13 May 2016. The stock had outperformed the market over the past one month till 11 May 2017, advancing 2.68% compared with the Sensexs 1.55% rise. The scrip had also outperformed the market over the past one quarter advancing 13.67% as against the Sensexs 6.76% rise.

The small-cap company has equity capital of Rs 6.48 crore. Face value per share is Rs 2.

Balaji Amines manufactures methylamines, ethylamines, derivatives of specialty chemicals and natural products.

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CBDT) invites comments from stakeholders on Draft Income Computation and Disclosure Standards on Real Estate Transactions by 26th May 2017
May 12,2017

The Committee constituted by the Finance Minister to suggest the areas in respect of which further Income Computation and Disclosure Standards (ICDS) may be notified under the Income Tax Act, 1961 (the Act) has suggested the notification of ICDS in respect of Real Estate Transactions and submitted the draft of the same.

The draft ICDS submitted by the committee is based on the Guidance Note issued on Real Estate Transactions issued by Institute of Chartered Accountants of India (ICAI). For the purposes of providing uniformity and certainty and harmonising the same with provisions of the Act, the committee suggested certain changes in draft ICDS.

The draft ICDS on Real Estate Transactions along with the significant changes suggested in ICDS vis-n++-vis the Guidance Note issued by ICAI are uploaded on the Income-tax website at http://www.incometaxindia.gov.in. The Central Board of Direct Taxes (CBDT) invites comments from stakeholders on the draft ICDS on Real Estate Transactions, which may be submitted to Director TPL-III by e-mail at dirtpl3@nic.in by 26th May, 2017.

Section 145(2) of the Income-tax Act, 1961 (the Act) provides that the Central Government may notify Income Computation and Disclosure Standards (ICDS) for any class of assessees or for any class of income. Accordingly, Central Government notified 10 ICDS vide Notification No. S.O. 3079 (E) dated 29th September, 2016. These ICDS inter-alia contain provisions relating to valuation of inventory; construction contracts; effects in changes of foreign exchange rates, borrowing costs etc. These ICDS are applicable from assessment year 2017-18 (previous year 2016-17) in respect of specified assessees for computation of income under the head n++Profits and gains of business or professionn++ or n++Income from other sourcesn++.

The Finance Minister had constituted a Committee comprising of experts from accounting field, departmental officers and representatives from the Institute of Chartered Accountants of India (ICAI) to suggest the areas in respect of which further ICDS may be notified under the Act.

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CBDT invites comments from stakeholders on Draft Income Computation and Disclosure Standards on Real Estate Transactions by 26th May 2017
May 12,2017

The Committee constituted by the Finance Minister to suggest the areas in respect of which further Income Computation and Disclosure Standards (ICDS) may be notified under the Income Tax Act, 1961 (the Act) has suggested the notification of ICDS in respect of Real Estate Transactions and submitted the draft of the same.

The draft ICDS submitted by the committee is based on the Guidance Note issued on Real Estate Transactions issued by Institute of Chartered Accountants of India (ICAI). For the purposes of providing uniformity and certainty and harmonising the same with provisions of the Act, the committee suggested certain changes in draft ICDS.

The draft ICDS on Real Estate Transactions along with the significant changes suggested in ICDS vis-n++-vis the Guidance Note issued by ICAI are uploaded on the Income-tax website at http://www.incometaxindia.gov.in. The Central Board of Direct Taxes (CBDT) invites comments from stakeholders on the draft ICDS on Real Estate Transactions, which may be submitted to Director TPL-III by e-mail at dirtpl3@nic.in by 26th May, 2017.

Section 145(2) of the Income-tax Act, 1961 (the Act) provides that the Central Government may notify Income Computation and Disclosure Standards (ICDS) for any class of assessees or for any class of income. Accordingly, Central Government notified 10 ICDS vide Notification No. S.O. 3079 (E) dated 29th September, 2016. These ICDS inter-alia contain provisions relating to valuation of inventory; construction contracts; effects in changes of foreign exchange rates, borrowing costs etc. These ICDS are applicable from assessment year 2017-18 (previous year 2016-17) in respect of specified assessees for computation of income under the head n++Profits and gains of business or professionn++ or n++Income from other sourcesn++.

The Finance Minister had constituted a Committee comprising of experts from accounting field, departmental officers and representatives from the Institute of Chartered Accountants of India (ICAI) to suggest the areas in respect of which further ICDS may be notified under the Act.

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Axis Bank gets ratings assigned for Tier 1 Bond programme
May 12,2017

Axis Bank announced that the rating agencies - ICRA and CRISIL have assigned ratings to the Rs 3500 crore Base III Compliant Tier 1 Bond Programme of the Bank.

ICRA has rated ICRA AA+(hyb) rating with stable outlook.
CRISIL has rated CRISIL AA+ with stable outlook

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Reliance Infra gains after arm wins arbitration against Delhi Metro
May 12,2017

The announcement was made after market hours yesterday, 11 May 2017.

Meanwhile, the S&P BSE Sensex was down 70.32 points, or 0.23% to 30,180.66.

On the BSE, 3.07 lakh shares were traded in the counter so far, compared with average daily volumes of 3.84 lakh shares in the past one quarter. The stock had hit a high of Rs 630 and a low of Rs 610 so far during the day. The stock hit a 52-week high of Rs 635.35 on 9 September 2016. The stock hit a 52-week low of Rs 426.45 on 9 November 2016.

The stock had outperformed the market over the past one month till 11 May 2017, rising 5.88% compared with 2.05% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 9.20% as against Sensexs 6.76% rise.

The large-cap company has equity capital of Rs 262.99 crore. Face value per share is Rs 10.

Delhi Airport Metro Express (DAMEPL), an associate of Reliance Infrastructure (Rlnfra), announced that it has been awarded compensation of Rs 2950 crore by a three member Arbitration Tribunal in a unanimous decision. The tribunal was constituted from a panel nominated by DMRC.

The award to Rlnfra has been granted on the basis of termination provisions of the concession agreement where the arbitration tribunal has held termination by DAMEPL as valid. The compensation covers damage as a result of breach by DMRC of its obligations under the concession agreement and material adverse effect on the ability of DAMEPL to perform its obligations under the concession agreement.

The three member Arbitration Tribunal, formed out of a DMRC nominated panel as per the concession agreement in September 2013 gave its award in May 2017 after hearing the case for almost four years. The Tribunal heard the submission made by both the parties and after detailed proceedings in 68 hearings; the tribunal has issued its final order whereby it has awarded the compensation to DAMEPL.

Under CCEA approved guidelines issued by Niti Ayog vide their office memorandum dated 5 September 2016, PSUs are expected to pay 75% of the award amount against bank guarantee even if they propose to challenge the arbitral award. Therefore Rlnfra is expected to get Rs 2210 crore as per above guidelines against bank guarantee in case DMRC proposes to challenge the award.

On a consolidated basis, Reliance Infrastructure reported net profit of Rs 40.94 crore in Q4 March 2017 as against net loss of Rs 327.42 crore in Q4 March 2016. Net sales declined 10.30% to Rs 4992.55 crore in Q4 March 2017 over Q4 March 2016.

Reliance Infrastructure (RInfra) is one of the largest infrastructure companies, developing projects through various special purpose vehicles (SPVs) in several high growth sectors such as power, roads and metro rail in the infrastructure space and the defence sector.

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Radha Madhav Corporation to hold board meeting
May 12,2017

Radha Madhav Corporation will hold a meeting of the Board of Directors of the Company on 29 May 2017.

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Board of Hitech Plast recommends final dividend
May 12,2017

Hitech Plast announced that the Board of Directors of the Company at its meeting held on 9 May 2017, inter alia, have recommended the final dividend of Rs 0.9 per equity Share (i.e. 9%) , subject to the approval of the shareholders.

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Board of InterGlobe Aviation recommends final dividend
May 12,2017

InterGlobe Aviation announced that the Board of Directors of the Company at its meeting held on 9 May 2017, inter alia, have recommended the final dividend of Rs 34 per equity Share (i.e. 340%) , subject to the approval of the shareholders.

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Board of Gujarat Mineral Development Corpn. recommends final dividend
May 12,2017

Gujarat Mineral Development Corpn. announced that the Board of Directors of the Company at its meeting held on 9 May 2017, inter alia, have recommended the final dividend of Rs 3 per equity Share (i.e. 150%) , subject to the approval of the shareholders.

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PNB Housing Finance allots 9,44,173 equity shares
May 12,2017

PNB Housing Finance has allotted 9,44,173 equity shares under ESOP scheme of the Company on 11 May 2017. Consequent to the allotment, the equity share capital of the Company has increased to Rs 166.58 crore consisting of 1665,86,482 equity shares of Rs 10 each.

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STG Lifecare to hold board meeting
May 12,2017

STG Lifecare will hold a meeting of the Board of Directors of the Company on 19 May 2017.

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Manaksia to hold board meeting
May 12,2017

Manaksia will hold a meeting of the Board of Directors of the Company on 19 May 2017.

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Murudeshwar Ceramics to hold board meeting
May 12,2017

Murudeshwar Ceramics will hold a meeting of the Board of Directors of the Company on 24 May 2017.

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Andhra Petrochemicals to hold board meeting
May 12,2017

Andhra Petrochemicals will hold a meeting of the Board of Directors of the Company on 23 May 2017.

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Shipping Corporation of India to hold board meeting
May 12,2017

Shipping Corporation of India will hold a meeting of the Board of Directors of the Company on 27 May 2017.

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