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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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Board of Manali Petrochemicals approves additional investment in subsidiary - AMCHEM Speciality Chemicals
Feb 01,2017

Manali Petrochemicals announced that at the meeting held on 31 January 2017 the Board has approved additional investment upto US$ 1 million in AMCHEM Speciality Chemicals, Singapore, the Wholly Owned Subsidiary in one or more tranches for exploring further overseas business opportunities.

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Cupid gains after reporting strong Q3 results
Feb 01,2017

The announcement was made before market hours today, 1 February 2017.

Meanwhile, the S&P BSE Sensex was up 9.74 points or 0.04% at 27,657.45.

On the BSE, 8,504 shares were traded on the counter so far as against the average daily volumes of 14,979 shares in the past one quarter. The stock had hit a high of Rs 310 and a low of Rs 298 so far during the day. The stock had hit a 52-week high of Rs 374 on 1 November 2015 and a 52-week low of Rs 228.50 on 18 February 2016.

It had underperformed the market over the past one month till 31 January 2017, sliding 2.6% compared with the Sensexs 3.87% gains. The scrip had also underperformed the market in the past one quarter, declining 19.48% as against the Sensexs 0.98% fall.

The small-cap company has equity capital of Rs 11.11 crore. Face value per share is Rs 10.

Cupids earnings before interest, taxes, depreciation and amortization (EBITDA) margin fell to 38.4% in Q3 December 2016 as against 40.6% in Q3 December 2015. EBITDA rose 67% to Rs 10.9 crore in Q3 December 2016 over Q3 December 2015.

As on 31 December, 2016, the company has confirmed orders worth Rs 72.9 crore to be executed over a period. For the ongoing period, the companys business priorities are to work along the marketing team to setup distribution network for retail sales of male and female condoms and progress along the registration procedure for our female condoms in Brazil and USA.

The company will complete automation in the packaging for male condoms, establish class 100 facilities for manufacturing of sterile lubes & creams, and initiate R&D program to manufacture rapid HIV/multi-test kits.

Commenting on the companys performance for Q3, Om Prakash Garg, CMD said that the robust performance was predominantly driven by execution of higher margin orders in the male and female condoms coupled with advancement of some shipments on customers specific request.

While the momentum looks conducive in the long term, the company remains cautious of the volatility of the institutional business and the next few quarters may not replicate the same revenue run rate. However, as the company moves forward, its blended strategy of B2B coupled with the new initiatives in the retailing business would drive sustainable growth for the company, he added.

Cupid is a leading manufacturer of quality male and female condoms.

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InterGlobe Aviation slumps after weak Q3 results
Feb 01,2017

The result was announced after market hours yesterday, 31 January 2017.

Meanwhile, the S&P BSE Sensex was down 28.05 points or 0.1% at 27,627.91.

On the BSE, 41,000 shares were traded on the counter so far as against the average daily volumes of 25,063 shares in the past one quarter. The stock had hit a high of Rs 869.60 and a low of Rs 825 so far during the day.

The stock had hit a 52-week high of Rs 1,095.40 on 5 May 2016 and a record low of Rs 702 on 11 February 2016. The stock had outperformed the market over the past one month till 31 January 2017, advancing 9.7% compared with the Sensexs 3.87% rise. The scrip had, however, underperformed the market over the past one quarter, sliding 3.77% as against the Sensexs 0.98% fall.

The large-cap company has equity capital of Rs 364.58 crore. Face value per share is Rs 10.

InterGlobe Aviations passenger revenue rose 16.1% to Rs 4369 crore in Q3 December 2016 over Q3 December 2015. Ancillary revenue grew by 12.5% to Rs 579.32 crore in Q3 December 2016 over Q3 December 2015.

The companys earnings before interest, taxation, depreciation, amortization and rent (EBITDAR) fell 12.9% to Rs 1460.54 crore in Q3 December 2016 over Q3 December 2015. EBITDAR margin contracted to 29.3% in Q3 December 2016, from 39% in Q3 December 2015.

InterGlobe Aviation expects fleet of 133 at the end of FY 2017. It expects available seat km (ASK) increase of 25% year-on-year in Q4 March 2017.

IndiGo had a total cash balance of Rs 8455 crore comprising of Rs 3786.50 crore of free cash and Rs 4668.50 crore of restricted cash as on 31 December 2016. The total debt as on 31 December 2016 was Rs 2746.60 crore. The entire debt of IndiGo is aircraft related. IndiGo does not have any working capital debt.

InterGlobe Aviations President and whole-time director Aditya Ghosh said, the airliner expects robust traffic growth ahead and it will continue to grow and strengthen its network with a view to maximizing its long term profitability.

InterGlobe Aviation is the operator of low cost passenger airline IndiGo.

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Precious Trading & Investments to consider December quarter results
Feb 01,2017

Precious Trading & Investments announced that a meeting of the Board of Directors of the Company is scheduled to be held on 10 February 2017, to consider the unaudited financial results for the quarter ended on 31 December 2016.

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South Indian Bank allots 3,89,657 equity shares
Feb 01,2017

South Indian Bank announced that the Nomination and Remuneration Committee of the Board by a resolution passed on 01 February 2016 has allotted 3,89,657 Equity Shares of face value Re.1/- each pursuant to exercise of options granted under the South Indian Bank Employees Stock Option Scheme (SIB ESOS - 2008). Post the above allotment, the paid-up Equity share capital of the Bank would stand at Rs. 135,21,27,907/- consisting of 135,21,27,907 Equity shares of Re.1/- each.

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JBM Auto to consider Q3 and 9M results
Feb 01,2017

JBM Auto announced that a meeting of the Board of Directors of the Company is scheduled to be held on 09 February 2017, primarily to consider the Un-audited Financial Results of the Company for the 3rd quarter and 9 months period ended on 31 December 2016.

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Board of Omansh Enterprises to consider Q3 and 9M results
Feb 01,2017

Omansh Enterprises announced the meeting of the Board of Directors of the Company will be held on 11 February 2017, to consider and take on record the Un-Audited Financial Results of the Company for the Quarter/nine months ended 31 December 2016.

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Multi Commodity Exchange of India inaugurates its new office
Feb 01,2017

Multi Commodity Exchange of India has inaugurated its new office at GIFT City, Gandhinagar. The office admeasuring over 22,600 sq ft. will house the Exchanges Business Continuity and Disaster Recovery centre and a training and education facility.

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Board of GSL Securities approves change in directorate
Feb 01,2017

GSL Securities announced that Board of Directors taken on record the resignation of Vijay Kumar Lahoti, Director of the Company w.e.f. 08 November 2016 and appointment of Satyanarayan Parmanand Kabra were appointed as an additional Director w.e.f. 08 November 2016.

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Wipro Gallagher Solutions partners with Veri-Tax LLC
Feb 01,2017

Wipro announced that Wipro Gallagher Solutions has entered into partnership with Veri-Tax LLC, a leading national verification provider, to streamline verification solutions.

The partnership between Wipro Gallagher Solutions, the provider of the NetOxygen Loan Origination System and Veri-Tax LLC will help lenders mitigate identity fraud, accelerate processing and improve the customers experience seamlessly and electronically.

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Great Eastern Shipping Company provides update on subsidiary - Greatship (India)
Feb 01,2017

Great Eastern Shipping Company announced that the Board of Directors of Greatship (India), wholly owned-subsidiary of the Company, at its meeting held on 31 January 2017 approved a rationalization of its manner of holding overseas assets through foreign subsidiary. The restructuring would be subject to all requisite statutory approvals.

Further to the decision of the Board of Directors at their meeting held on 06 January 2017, to acquire full ownership of Greatship Global Energy Services (GGES), the Board has further decided to acquire full ownership of the jack up rigs of GGES.

The aforesaid re-structuring is expected to have only a very marginal (if any) impact on cash flow.

The proposed re-structuring does not offer any benefit to the promoters, promoter group companies in any way.

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TCS achieves Oracle Cloud Elite Designation
Feb 01,2017

Tata Consultancy Services has achieved the Oracle Cloud Elite designation within the Oracles PartnerNetwork Cloud Program.

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Sobha acquires shares in Sobha Highrise Ventures
Feb 01,2017

Sobha announced that it has acquired 10,300,000 equity shares held by Winona SA Investments LLC in Sobha Highrise Ventures, a joint venture between the Company and Winono SA Investments LLC, for a total consideration of Rs 34.68 crore. With this acquisition, Sobha Highrise Ventures has become a wholly owned subsidiary of Sobha.

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Sasken Communication Technologies director resigns
Feb 01,2017

Sasken Communication Technologies announced Dr. Ashok Jhunjhunwala, an Independent Director has resigned from the Board of Directors of the Company effective 30 January 2017.

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State Bank of Bikaner and Jaipur revises MCLR rates
Feb 01,2017

State Bank of Bikaner and Jaipur has revised the MCLR rates with effect from 01 February 2017 as under -

Overnight - 8.20%
One month - 8.30%
Three month - 8.40%
Six month - 8.50%
One year - 8.60%
Two year - 8.70%
Three year - 8.80%

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