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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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MOIL slips below OFS floor price
Jan 25,2017

Meanwhile, the S&P BSE Sensex was up 138.86 points or 0.51% at 27,514.44.

On the BSE, 91,000 shares were traded on the counter so far as against the average daily volumes of 99,572 shares in the past one quarter. The stock had hit a high of Rs 365 and a low of Rs 358.65 so far during the day.

The stock had hit a 52-week high of Rs 429 on 12 January 2017 and a record low of Rs 180.10 on 12 February 2016. The stock had underperformed the market over the past one month till 24 January 2017, advancing 4.57% compared with the Sensexs 5.13% rise. The scrip had, however, outperformed the market over the past one quarter, gaining 20.8% as against the Sensexs 2.85% fall.

The mid-cap company has equity capital of Rs 133.19 crore. Face value per share is Rs 10.

The Government of India (GoI) is selling up to 1.33 crore equity shares of the company, representing 10% of the total paid up equity share capital of the company in two trading sessions viz. for non-retail investors on 24 January 2017 and for retail investors and non-retail investors who choose to carry forward their un-allotted bids on 25 January 2017, through a separate designated window on the stock exchanges. The GoI held 66.21% stake in MOIL as per the shareholding pattern as on 31 December 2016.

The floor price for the offer for sale (OFS) was fixed at Rs 365 per share. Retail investors will be allocated shares at a discount of 5% to the cut off price.

On the second day of the bidding for OFS today, 25 January 2017, as at 11:45 IST, bids were received for 18.40 lakh shares from the retail investors as against offer size of 26.63 lakh shares for this category of investors, representing a subscription of 69.11%. The OFS received good response from non-retail investors category yesterday, 24 January 2017, with an oversubscription of 150.91%. The stock had declined 3.78% to settle at Rs 368.25 yesterday, 24 January 2017.

MOILs net profit declined 14.6% to Rs 41.47 crore on 32.1% rise in net sales to Rs 196.03 crore in Q2 September 2016 over Q2 September 2015.

State-run MOIL produces and sells different grades of manganese ore.

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Sona Koyo Steering spurts on buzz Japanese partner may take over
Jan 25,2017

Meanwhile, the BSE Sensex was up 127.57 points, or 0.47%, to 27,503.15.

On the BSE, so far 9.90 lakh shares were traded in the counter, compared with average daily volumes of 74,401 shares in the past one quarter. The stock had hit a high of Rs 85.80 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 79 so far during the day.

The stock hit a 52-week low of Rs 37.15 on 12 February 2016. The stock had outperformed the market over the past 30 days till 24 January 2017, rising 22.16% compared with the 6.08% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 9.68% as against Sensexs 1.66% decline.

The small-cap company has equity capital of Rs 19.87 crore. Face value per share is Re 1.

According to reports, Japanese auto-component maker JTEKT Corporation is set to buy out Indian partner Sona Groups 25% stake in Sona Koyo Steering Systems for Rs 575-625 crore, ending their 32-year-old partnership. JTEKT is believed to have offered the Kapur family, which owns the Sona group, Rs 115-125 per share, valuing the joint venture company at Rs 2300-2500 crore. The reported offer price is almost 50% premium to the ruling market price of Sona Koyo Steering Systems.

As on 31 December 2016, Sona Autocomp Holding held 25.115% stake, while JTEKT Corporation held 20.1% stake in Sona Koyo Steering Systems. Maruti Suzuki India, which is a key customer of the company, held 6.944% stake in the Indian company.

This proposed buyout is in line with the strategy of Japanese auto-component makers who are trying to consolidate their presence in India by buying out their local partners, reports added.

On a consolidated basis, net profit of Sona Koyo Steering Systems fell 7.51% to Rs 6.16 crore on 0.55% decline in net sales to Rs 385.06 crore in Q2 September 2016 over Q2 September 2015.

Sona Koyo Steering Systems is the largest manufacturer of steering systems in India, catering to passenger cars, utility vehicles and light commercial vehicles. Sona Koyo has technical and financial collaboration with JTEKT Corporation, Japan (formally known as Koyo Seiko Co.), the largest producer of passenger vehicles steering systems in the world. Sona Koyos customers include major vehicle manufactures in India such as Maruti Suzuki, Toyota, Hyundai, Tata Motors, Mahindra & Mahindra, General Motors and Ford.

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Board of Prestige Estates Projects to consider Q3 and 9M results
Jan 25,2017

Prestige Estates Projects announced that a Meeting of the Board of Directors of the Company is scheduled to be held on 13 February 2017, inter alia, to consider and approve the unaudited standalone and consolidated financial results of the Company for the quarter and nine months ended 31 December 2016 (Q3).

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Board of Prestige Estates Projects to consider Q3 and 9M results
Jan 25,2017

Prestige Estates Projects announced that a Meeting of the Board of Directors of the Company is scheduled to be held on 13 February 2017, inter alia, to consider and approve the unaudited standalone and consolidated financial results of the Company for the quarter and nine months ended 31 December 2016 (Q3).

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IVP to announce Q3 results
Jan 25,2017

IVP announced that the meeting of the Board of Directors of the Company will be held on 07 February 2017, inter alia, to consider and take on record the Unaudited Financial Results for the Third quarter / Nine months ended 31 December 2016.

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IVP to announce Q3 results
Jan 25,2017

IVP announced that the meeting of the Board of Directors of the Company will be held on 07 February 2017, inter alia, to consider and take on record the Unaudited Financial Results for the Third quarter / Nine months ended 31 December 2016.

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Board of Panyam Cements & Mineral Industries to consider December quarter results
Jan 25,2017

Panyam Cements & Mineral Industries announced that the meeting of the Board of Directors of the Company will be held on 04 February 2017 to consider and approve the un-audited financial results of the Company for the third quarter and nine months period ended 31 December 2016.

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Board of Panyam Cements & Mineral Industries to consider December quarter results
Jan 25,2017

Panyam Cements & Mineral Industries announced that the meeting of the Board of Directors of the Company will be held on 04 February 2017 to consider and approve the un-audited financial results of the Company for the third quarter and nine months period ended 31 December 2016.

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Board of JMC Projects (India) to consider Q3 results
Jan 25,2017

JMC Projects (India) announced that a meeting of the Board of Directors of the Company is scheduled on 13 February 2017, inter alia, to consider and approve the Unaudited Financial Results of the Company for the 3rd quarter of FY 2016-17 and nine months ended 31 December 2016 and also for consideration of other relevant matters.

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Strong Q3 earnings boost Gandhi Special Tubes
Jan 25,2017

The announcement was made after market hours yesterday, 24 January 2017.

Meanwhile, the S&P BSE Sensex was up 129.26 points or 0.47% at 27,504.84.

On the BSE, 12,000 shares were traded on the counter so far as against the average daily volumes of 1,214 shares in the past one quarter. The stock had hit a high of Rs 340 and a low of Rs 321 so far during the day.

The stock had hit a record high of Rs 350 on 29 July 2016 and a 52-week low of Rs 200 on 21 March 2016. The stock had underperformed the market over the past one month till 24 January 2017, advancing 2.35% compared with the Sensexs 5.13% rise. The scrip had also underperformed the market over the past one quarter, sliding 8.41% as against the Sensexs 2.85% fall.

The small-cap company has equity capital of Rs 7.35 crore. Face value per share is Rs 5.

Gandhi Special Tubes is engaged in manufacturing and marketing of seamless and welded steel tubes.

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Automotive Stampings hits 52-week high after reporting turnaround in Q3
Jan 25,2017

The announcement was made after market hours yesterday, 24 January 2017.

Meanwhile, the BSE Sensex was up 135.38 points or 0.49%, to Rs 27,510.96.

More than usual volumes were witnessed on the counter. On the BSE, 42,000 shares were traded on the counter so far as against the average daily volumes of 4,976 shares in the past one quarter. The stock had hit a high of Rs 73.25 so far during the day, which is also its 52-week high. The stock had hit a low of Rs 67 so far during the day.

The stock had hit a 52-week low of Rs 32.20 on 29 March 2016. The stock had outperformed the market over the past one month till 24 January 2017, advancing 8.26% compared with the Sensexs 5.13% rise. The scrip had, however, underperformed the market over the past one quarter declining 5.43% as against the Sensexs 2.85% fall.

The small-cap company has equity capital of Rs 15.86 crore. Face value per share is Rs 10.

Automotive Stampings and Assemblies net sales fell 2.4% to Rs 62.80 crore in Q3 December 2016 over Q3 December 2015.

Automotive Stampings and Assemblies is a manufacturer and supplier of sheet metal components, welded assemblies and modules for automobiles.

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Infibeam spurts after board OKs preferential issue of warrant
Jan 25,2017

The announcement was made after market hours yesterday, 24 January 2017.

Meanwhile, the BSE Sensex was up 130.18 points, or 0.48%, to 27,505.76.

On the BSE, so far 1.22 lakh shares were traded in the counter, compared with average daily volumes of 1.14 lakh shares in the past one quarter. The stock had hit a high of Rs 1,310 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 1,160 so far during the day.

The stock hit a 52-week low of Rs 431.35 on 8 April 2016. The stock had underperformed the market over the past 30 days till 24 January 2017, falling 0.36% compared with the 6.08% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 34.04% as against Sensexs 1.66% decline.

The mid-cap company has equity capital of Rs 53.39 crore. Face value per share is Rs 10.

Infibeam Incorporation said that its board at the meeting duly held yesterday, 24 January 2017, approved issuing one warrant for an aggregate amount not exceeding Rs 60 crore to Bennett Coleman and Company on preferential basis. The warrant is fully convertible into equity shares at Rs 1,375 each (including premium). The proposal is subject to approval of the shareholders of the company in the ensuing extra-ordinary general meeting (EGM) to be held on 22 February 2017.

Further, the company will seek shareholders approval for increasing the limits of inter corporate loans/investments/guarantee, etc. from exiting limit of Rs 1000 crore to Rs 3000 crore. Further, the company will obtain approval for creating charge/mortgage on the companys assets from existing limit of Rs 1000 crore to Rs 3000 crore. The company will also seek shareholders approval for increasing the borrowing limits from Rs 1000 crore to Rs 3000 crore or the aggregate of the paid up capital and free reserves of the company.

On a consolidated basis, net profit of Infibeam Incorporation rose 122.84% to Rs 8 crore on 31.43% rise in net sales to Rs 114.37 crore in Q2 September 2016 over Q2 September 2015.

Infibeam Incorporation is an e-commerce company.

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Board of Wall Street Finance to consider Q3 and 9M results
Jan 25,2017

Wall Street Finance announced that the meeting of the Board of Directors of the Company is scheduled to be held on 09 February 2017, inter alia, to consider and adopt the Unaudited Financial Results of the Company for the quarter and nine months ended 31 December 2016.

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Minda Corporation to consider Q3 results and interim dividend
Jan 25,2017

Minda Corporation announced that the meeting of the Board of Directors of the Company is scheduled to be held on 13 February 2017, inter-alia, to consider, approve and take on record the Un- Audited Standalone and Consolidated Financial Results of the Company for the quarter and nine months ended on 31 December 2016 and also to consider the Interim Dividend, if any.

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Board of Ricoh India to consider December quarter results
Jan 25,2017

Ricoh India announced that a Meeting of the Board of Directors of the Company will be held on 08 February 2017, inter alia, to :-

- Consider and approve Un-audited Financial Results for the Quarter ended 31 December 2016 as subjected to limited Review by the Statutory Auditors of the Company.

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