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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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Hotel Leela Venture to hold AGM
Jun 14,2017

Hotel Leela Venture announced that the 36th Annual General Meeting(AGM) of the company on 18 September 2017.

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Enhanced Per Capita Investment, capacities of cities driving urban transformation, Says UD Minister
Jun 14,2017

More than threefold increase in investments, Per Capita spending, Central Assistance and substantially enhanced capacities of city governments under the new urban missions launched during the last three years is driving the much needed urban transformation in the country, said Shri M.Venkaiah Naidu, Minister of Urban Development and Housing and Urban Poverty Alleviation.

Shri Naidu said that a rule based framework has been introduced to ensure objective selection of cities and allocation of central funds without any discretion and discrimination and the same has been followed in getting unauthorized occupants of government houses evicted.

The Minister said that a major course correction has been launched during the last three years to improve urban infrastructure and quality of life in cities in an environment of inclusive, sustainable and accelerated urban development. Giving an account of the positive outcomes of the initiatives of the Government that are driving urban transformation, Shri Naidu said:

-Per Capita Investment of Rs.15,475 has so far been approved during 2014-17 under new urban missions for a five year period which is 315% of Rs.4,918 approved for the earlier ten years. A total investment of Rs.4,13,475 cr has so far been approved for improving basic urban infrastructure which is 350% of Rs.1,18,034 approved under JNNURM;

-A total of 6,737 projects have so far been approved which is 215% of 3,138 projects cleared under JNNURM, reflecting substantially enhanced capacities of city governments for project formulation and implementation through deployment of professional staff and through intensive handholding;

-748 cities have formulated the much desired Master Plans, 172 cities have reported over 90% Property Tax Collection during the last three years;

-In an indication of the new language of governance and resource mobilization, 322 AMRUT and smart cities have acquired Credit Ratings of which 147 have got investment grade while 163 cities in 18 States and UTs have initiated measures for mobilizing resources through Value Capture Financing tools;

-For the first time in the country, 500 AMRUT cities and 60 smart cities identified so far are pursuing five year comprehensive action plans for infrastructure development as against ad hoc approval of projects in the past;

-In an illustration of area and outcome based urban development approach introduced, under Atal Mission for Rejuvenation and Urban Transformation (AMRUT), provision of water taps to 1.39 crore urban households besides expansion of sewerage networks by 31% to 62%, 111 cycling and walkway projects and development of 1,921 new parks and green spaces in mission cities is being taken up.

Shri Naidu said that with cities now moving forward on the path of well thought out course of infrastructure development, City Liveability Index will be launched on the 23 of this month at the National Workshop on Urban Transformation in New Delhi. The next batch of smart cities also will be announced that day, he informed.

The Minister said that the Ministry of Environment, Forests and Climate Change yesterday issued a notification doing away with the need for a separate Environmental Clearence from that Ministry for construction and building projects up to 1,50,000 sq.metres in Delhi. Such approvals, will henceforth, will be issued by DDA, NDMC and the three MCDs in their jurisdiction.

Stressing on the need for inclusive and sustainable urban development to ensure access for the poor and the vulnerable to urban spaces, Shri Naidu said construction of 20,25, 573 affordable houses for urban poor has been approved in a short time as against only 12,40,904 sanctioned under JNNURM. He stated that new guidelines will soon be issued to enable private investments in affordable housing even on private lands under Affordable Housing in Partnership component of PMAY(Urban) under which only public sector partnership is allowed so far.

Shri Naidu said public transport is being promoted in a big way to address the issues of climate change and pollution and the Metro network in the country is set to double over the next two years from the present 346 kms with 353 kms of metro lines becoming operational.

Expressing concern over unauthorized occupation of government houses, Shri Naidu informed that 2,843 such houses were got vacated during these three years by acting tough as per rules including 411 higher type accommodation occupied by former MPs and Ministers. A total of 95 unauthorised occupants lost their cases in various courts reflecting on the challenging task faced in their eviction. Still, another 190 cases are pending in courts including 80 in the High Court and 110 in District Courts but the long hand of law will reach them, said Shri Naidu.

Cities with new found confidence, awareness, enthusiasm and competitive spirit are driving urban transformation with is crucial for Transformation of India, Shri Naidu said.

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Bank stocks witness mixed trend
Jun 14,2017

Meanwhile, the S&P BSE Sensex was down 11.11 points or 0.04% at 31,092.38. The S&P BSE Bankex index declined 34.30 points or 0.13% at 26,508.62.

Among public sector banks, Union Bank of India (down 1.13%), Bank of India (down 0.76%), Indian Bank (down 0.55%), Punjab National Bank (down 0.1%) and State Bank of India (down 0.02%) edged lower. Central Bank of India (up 1.06%), Bank of Baroda (up 1.09%), IDBI Bank (up 0.44%) and Syndicate Bank (up 0.19%) edged higher.

Among private sector banks, Yes Bank (down 1.9%), Kotak Mahindra Bank (down 0.58%), Axis Bank (down 0.5%), HDFC Bank (down 0.45%) and IndusInd Bank (down 0.23%) edged lower. ICICI Bank (up 0.48%) and RBL Bank (up 0.01%) edged higher.

The Reserve Bank of India (RBI) in a press release yesterday, 13 June 2017 said that it has identified 12 accounts totaling about 25% of the current gross non-performing assets (NPAs) of the banking system (as of 31 March 2016) to speed up the NPA resolution process.

The central bank, based on the recommendations of the Internal Advisory Committee (IAC), will accordingly be issuing directions to banks to file for insolvency proceedings under the Insolvency and Bankruptcy Code, 2016 (IBC) in respect of the identified accounts. Such cases will be accorded priority by the National Company Law Tribunal (NCLT), the central bank said.

The details of the resolution framework in regard to the other non-performing accounts will be released in the coming days, RBI said.

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Greaves Cotton jumps after technology tie-up with US-based firm
Jun 14,2017

The announcement was made after market hours yesterday, 13 June 2017.

Meanwhile, the S&P BSE Sensex was down 20.51 points, or 0.07% to 31,082.98.

On the BSE, 60,000 shares were traded in the counter so far, compared with average daily volumes of 50,265 shares in the past one quarter. The stock had hit a high of Rs 164.65 and a low of Rs 160 so far during the day. The stock hit a record high of Rs 178 on 4 May 2017. The stock hit a 52-week low of Rs 115.20 on 26 December 2016.

The stock had underperformed the market over the past one month till 13 June 2017, rising 0.58% compared with 2.58% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 5.02% as against Sensexs 5.80% rise. The scrip had also underperformed the market in past one year, rising 13.87% as against Sensexs 17.84% rise.

The mid-cap company has equity capital of Rs 48.84 crore. Face value per share is Rs 2.

Greaves Cotton and US-based Pinnacle Engines Inc announced a technology partnership for the launch of a revolutionary Opposed Piston Petrol/CNG lean burn BS VI-compIiant engine for 3-wheelers in India.

As per the agreement, Pinnacle will grant license to Greaves Cotton for manufacturing and selling 3-wheel Pinnacle Engines and 2 Wheel (110 CC) Pinnacle Engines. Greaves Cotton has agreed for $7.5 million milestone-linked payment and 5% royalty to Pinnacle Engines.

This move is seen as an important milestone for Greaves to establish itself as a leading fuel agnostic powertrain solutions & services company. This also allows Greaves access to export markets with large 3-wheeler population. With this advanced horizontal opposed piston design engines, Greaves aims to offer BS VI compliant high power and fuel efficiency engines with lower maintenance cost that results in higher savings to the end customer. This partnership enables Greaves, currently the market leader in the 3-Wheeler diesel engine space, to enter the larger 3-wheeler petrol/CNG space, with a powerful customer value proposition.

The partnership leverages strengths on both sides, provides opportunities to enter new markets and customer segments. The innovative technology offering from Pinnacle Engines, coupled with the vast experience of Greaves in world class manufacturing, will create a superior value package for the end customer in the Indian and overseas markets. The agreement between the two companies was signed in California, US.

Pinnacle Engines is a US-based mobility technologies company. A pioneer in the field of Opposed Piston Engine architecture, utilizing a proprietary hardware design and electronic control, Pinnacles unique lean-burn four stroke engine is protected by over 170 patents. The technology is now ready to be taken into the Indian 3-wheeler market, providing a highly differentiated customer value proposition.

Net profit of Greaves Cotton rose 19.13% to Rs 46.77 crore on 3.40% decline in net sales to Rs 390.73 crore in Q4 March 2017 over Q4 March 2016.

Greaves Cotton is one of the leading engineering companies in India with core competencies in diesel/ petrol engines, farm equipment and Gensets. The company sustains its leadership through six manufacturing units which produce world class products backed by comprehensive spares and service through its 3500 plus service outlets across India.

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Board of Kanpur Plastipack recommends final dividend
Jun 14,2017

Kanpur Plastipack announced that the Board of Directors of the Company at its meeting held on 29 May 2017, inter alia, have recommended the final dividend of Rs 1.8 per equity Share (i.e. 18%) , subject to the approval of the shareholders.

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Larsen & Toubro to hold AGM
Jun 14,2017

Larsen & Toubro announced that the th Annual General Meeting(AGM) of the company on 22 August 2017.

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Bajaj Auto to pay dividend
Jun 14,2017

Bajaj Auto announced that dividend, if approved at the AGM, will be credited on 24 - 25 July 2017.

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Bajaj Finserv to pay dividend
Jun 14,2017

Bajaj Finserv announced that dividend, if declared at the AGM, will be dispatched between 24 July to 25 July 2017.

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Viaan Industries to launch Match Indian Poker League
Jun 14,2017

Viaan Industries has signed an agreement with International Federation of Poker to launch Match Indian Poker Leaque (Match IPL) which will see city based teams compete in the worlds first professional match poker league.

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Chambal Fertilisers rises after striking deal for purchase of gas
Jun 14,2017

The announcement was made during trading hours today, 14 June 2017.

Meanwhile, the S&P BSE Sensex was down 8.27 points, or 0.03% to 31,095.22.

On the BSE, 1.24 lakh shares were traded in the counter so far, compared with average daily volumes of 3.32 lakh shares in the past one quarter. The stock had hit a high of Rs 130.55 and a low of Rs 126.55 so far during the day. The stock hit a record high of Rs 138 on 10 May 2017. The stock hit a 52-week low of Rs 53.70 on 17 November 2016.

The stock had underperformed the market over the past one month till 13 June 2017, falling 2.01% compared with 2.58% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 54.53% as against Sensexs 5.80% rise. The scrip had also outperformed the market in past one year, rising 88.91% as against Sensexs 17.84% rise.

The mid-cap company has equity capital of Rs 416.21 crore. Face value per share is Rs 10.

Chambal Fertilisers and Chemicals said initial supply date will occur between 1 April 2018 and 1 July 2019. The gas is being purchased mainly for new urea plant of the company being set up at the existing site at Gadepan in Kota, Rajasthan. However, the gas can also be used at the existing plants of the company at Gadepan in Kota, Rajasthan.

Chambal Fertilisers & Chemicals reported net profit of Rs 27.15 crore in Q4 March 2017 as against net loss of Rs 131.16 crore in Q4 March 2016. Net sales declined 23.63% to Rs 1072.76 crore in Q4 March 2017 over Q4 March 2016.

Chambal Fertilisers & Chemicals is one of the largest private sector fertilizer producers in India.

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Bank of India allots 1.75 crore equity shares
Jun 14,2017

Bank of India has allotted 1,75,00,000 fresh equity shares of Rs. 10/- each to Life Insurance Corporation of India at a price of Rs. 126.81 per share.

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Lux Inds spurts as Reliance MF buys shares
Jun 14,2017

Meanwhile, the S&P BSE Sensex was up 0.09 points at 31,103.58. The S&P BSE Small-Cap index fell 8.48 points or 0.05% at 15,509.45.

On the BSE, 26,000 shares were traded on the counter so far as against the average daily volumes of 98,000 shares in the past two weeks.

The stock had hit a high of Rs 970 so far during the day, which is a record high. The stock hit a low of Rs 930 so far during the day. The stock had hit a 52-week low of Rs 570.45 on 18 August 2016.

Valuead Securities sold 5.62 lakh shares of apparel firm Lux Industries at Rs 901.64 per share in a bulk deal on the BSE yesterday, 13 June 2017. Reliance Mutual Fund bought 4.44 lakh shares at Rs 900.4 per share.

Valuead Securities held 2.23% stake in Lux Industries end March 2017.

Lux Industries net profit rose 26.9% to Rs 19.59 crore on 3.6% growth in net sales to Rs 279.57 crore in Q4 March 2017 over Q4 March 2016.

Lux Industries makes various kinds of hosiery products for men, women and children.

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Bajaj Finance allots NCDs aggregating Rs 1025 crore
Jun 14,2017

Bajaj Finance has allotted 10,250 secured redeemable non-convertible debentures of face value of Rs 10 lakh each aggregating Rs 1025 crore on private placement basis on 13 June 2017.

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Veer Energy & Infrastructure to hold board meeting
Jun 14,2017

Veer Energy & Infrastructure will hold a meeting of the Board of Directors of the Company on 15 June 2017.

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Bajaj Finserv to hold board meeting
Jun 14,2017

Bajaj Finserv will hold a meeting of the Board of Directors of the Company on 19 July 2017.

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