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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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Realty and Finance indices lead losses from BSE sectoral indices
Oct 13,2016

Meanwhile, the S&P BSE Sensex was down 486.50 points or 1.73% at 27,595.84 as weakness in global stocks spoiled investors sentiment.

Eighteen out of nineteen sectoral indices on BSE were in the red. The S&P BSE Realty index (down 2.77%), the S&P BSE Finance index (down 2.6%), the S&P BSE Consumer Durables index (down 2.24%), the S&P BSE Metal index (down 2.52%), the S&P BSE Basic Materials index (down 1.8%), the S&P BSE Telecom index (down 1.94%), the S&P BSE Utilities index (down 2.07%), the S&P BSE Bankex (down 2.56%), the S&P BSE Power index (down 1.88%), the S&P BSE Industrials index (down 2.27%), the S&P BSE Energy index (down 2.01%) underperformed the Sensex.

The S&P BSE IT index (up 0.14%), the S&P BSE Teck index (down 0.47%), the S&P BSE FMCG index (down 1.32%), the S&P BSE Auto index (down 1.68%), the S&P BSE Healthcare index (down 1.5%), the S&P BSE Capital Goods index (down 1.08%), the S&P BSE Consumer Discretionary Goods & Services index (down 1.51%), and the S&P BSE Oil & Gas index (down 0.97%), outperformed the Sensex.

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HUL slides as Unilevers Q3 results disappoint investors
Oct 13,2016

Meanwhile, the S&P BSE Sensex was down 467.10 points or 1.66% at 27,615.24.

On BSE, so far 63,000 shares were traded in the counter as against average daily volume of 1.25 lakh shares in the past one quarter. The stock hit a high of Rs 880 and a low of Rs 853.50 so far during the day. The stock had hit a 52-week high of Rs 954 on 9 September 2016. The stock had hit a 52-week low of Rs 765.35 on 27 January 2016. The stock had underperformed the market over the past one month till 10 October 2016, sliding 5.82% compared with 2.48% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 4.8% as against Sensexs 3.52% rise.

The large-cap company has equity capital of Rs 216.43 crore. Face value per share is Rs 1.

Unilever posted an underlying sales growth of 3.2% in Q3 September 2016 over Q3 September 2015. Volumes declined 0.4% during this period. Sales increased by 3.4% at constant exchange rates while turnover, which is at current rates, declined 0.1% in Q3 September 2016 over Q3 September 2015. Consumer demand remained weak and in the markets in which Unilever operates volumes have slowed further and are flat in aggregate, the company said. This is particularly the case in Latin America where currency devaluation has pushed up the cost of living of its consumers, squeezing disposable incomes, it added.

Unilever holds 58.32% stake in Hindustan Unilever (HUL) as per the shareholding pattern as on 30 September 2016.

HULs net profit rose 9.8% to Rs 1173.90 crore on 3.6% growth in net sales to Rs 7987.74 crore in Q1 June 2016 over Q1 June 2015.

HUL is a leading fast moving consumer goods (FMCG) company.

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Metal & mining stocks drop on weak economic data in China
Oct 13,2016

Meanwhile, the S&P BSE Sensex was down 471.45 points or 1.68% at 27,610.89.

Bhushan Steel (down 4.1%), Jindal Steel & Power (down 3.9%), Vedanta (down 3.11%), Tata Steel (down 1.77%), NMDC (down 3.08%), Hindalco Industries (down 4.95%), Steel Authority of India (down 5.45%), JSW Steel (down 4.19%), Hindustan Zinc (down 3.54%) and National Aluminium Company (down 3.92%) edged lower.

Chinas exports and imports for September came in well below expectations, dented by weak demand at home and abroad. Data released today, 13 October 2016 showed Chinas exports in September 2016 tumbled nearly 10% year-on-year in dollar-terms, and imports dipped 1.9% from the previous year. China is the worlds largest consumer of steel, copper and aluminum.

Meanwhile, High Grade Copper for December 2016 delivery was currently up 0.92% at $2.1565 per pound on the COMEX.

The BSE Metal index had outperformed the market over the past one month till 10 October 2016, gaining 3.27% compared with Sensexs 2.48% fall. The index had also outperformed the market in past one quarter, rising 20.36% as against Sensexs 3.52% rise.

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Cabinet approves revision of ethanol price for supply to Public Sector Oil Marketing Companies
Oct 13,2016

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has approved the mechanism for revision of ethanol price for supply to Public Sector Oil Marketing Companies (OMCs) to carry out the Ethanol Blended Petrol (EBP) Programme in the following manner:

i. For the next sugar season 2016-17 during ethanol supply period from 1st December, 2016 to 30th November, 2017, the administered price of ethanol for the EBP Programme will be Rs.39/- per litre.

ii. Additionally, charges will be paid to the ethanol suppliers as per actuals in case of Excise Duty and VAT/GST and transportation charges as decided by OMCs.

iii. If the need arises to increase/reduce the retail selling price of Petrol by Public Sector OMCs, then such increase/reduction would proportionately factor in the requirement of maintaining the fixed cost of purchase of ethanol during the ethanol supply year.

iv. The prices of ethanol will be reviewed and suitably revised by Government at any time during the ethanol supply period that is from 1st December, 2016 to 30th November, 2017 depending upon the prevailing economic situation and other relevant factors.

The revision in ethanol prices will facilitate the continued policy of the Government in providing price stability and remunerative prices for ethanol suppliers.

Background: Ethanol Blended Petrol (EBP) Programme was launched by the Government in 2003 which has been extended to the Notified 21 States and 4 Union Territories to promote the use of alternative and environment friendly fuels. This intervention also sought to reduce import dependency for energy requirements.

However, since 2006, OMCs were not able to receive offers for the required quantity of ethanol against the tenders floated by them due to various constraints like State Specific issues, Supplier related issues including Pricing issues of ethanol.

In order to augment the supply of ethanol, a need was felt to put in place a new mechanism for pricing of ethanol. Accordingly, the Government on 10th December, 2014 decided that the delivered price of ethanol at OMC depots would be fixed in the range of Rs. 48.50 per litre to 49.50 per litre including Central/State Government taxes and transportation charges.

The decision has helped in significantly improving the supply of ethanol. Ethanol supplies increased to 67.4 crore litres in 2014-15 and the projected supplies for ethanol supply year 2015-16 are around 120 crore litres. The objective to fix the delivered price of ethanol has been achieved to a large extent. In view of firming of sugar prices, falling crude prices and consequent under-recoveries of OMCs on this account, a need to re-examine the pricing of ethanol under EBP Programme has been felt.

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TCS drops on expectations of subdued Q2 earnings
Oct 13,2016

Meanwhile, the S&P BSE Sensex was down 490.82 points or 1.75% at 27,591.52.

On BSE, so far 2.65 lakh shares were traded in the counter as against average daily volume of 1.16 lakh shares in the past one quarter. The stock hit a high of Rs 2,367.85 and a low of Rs 2,323.25 so far during the day. The stock had hit a 52-week low of Rs 2,119 on 29 February 2016. The stock had hit a 52-week high of Rs 2,740 on 16 August 2016. The stock had outperformed the market over the past one month till 10 October 2016, gaining 1.17% compared with 2.48% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, sliding 1.87% as against Sensexs 3.52% rise.

The large-cap company has equity capital of Rs 197.04 crore. Face value per share is Rs 1.

Media reports suggested that TCS is likely to report 0.2% drop in consolidated net profit in Q2 September 2016 on sequential basis. Analysts expect the company to post 1.47% growth in revenue in Q2 September 2016 over Q1 June 2016. Dollar revenue is expected to increase 1.78% quarter-on-quarter (QoQ) in Q2 September 2016. The slowdown in North American financial services sector is likely to hurt TCS growth in coming quarters, reports suggested.

It may be recalled that TCS had earlier warned of a slowdown in discretionary spending in banking, financial services and insurance (BFSI) vertical by its US clients. Based on data at the end of August 2016, the company had characterized customer outlook as one marked by abundant caution, with some holding back of discretionary spending - particularly in the BFSI vertical in the United States - resulting in a sequential loss of momentum, TCS had said in its earnings update issued on 7 September 2016.

TCS consolidated net profit fell 0.45% to Rs 6318 crore on 3% rise in net sales to Rs 29305 crore in Q1 June 2016 over Q4 March 2016.

TCS is an IT services, consulting and business solutions organization. The company offers a consulting-led, integrated portfolio of IT, BPS, infrastructure, engineering and assurance services.

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Cabinet approves MoU between India and the Russian Federation on Expansion of Bilateral Trade and Economic Cooperation
Oct 13,2016

The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has given its approval for signing the Memorandum of Understanding (MoU) between India and the Russian Federation on Expansion of Bilateral Trade and Economic Cooperation.

The MoU would expand more Bilateral Trade and Economic Cooperation between India and Russian Federation.

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Sunil Hitech Engineers surges after board approves bonus issue
Oct 13,2016

The announcement was made on Tuesday, 11 October 2016. The stock market remained shut on 11 and 12 October 2016 due to holidays.

Meanwhile, the S&P BSE Sensex was down 471.45 points or 1.68% at 27,610.89.

High volumes were witnessed on the counter. On BSE, so far 6.15 lakh shares were traded in the counter as against average daily volume of 1.36 lakh shares in the past one quarter. The stock hit a high of Rs 418.90 so far during the day, which is a record high for the counter. The stock hit a low of Rs 398.40 so far during the day. The stock had hit a 52-week low of Rs 155 on 24 June 2016. The stock had outperformed the market over the past one month till 10 October 2016, gaining 40.24% compared with Sensexs 2.48% fall. The scrip had also outperformed the market in past one quarter, surging 115.67% as against Sensexs 3.52% rise.

The small-cap company has equity capital of Rs 18.90 crore. Face value per share is Rs 10.

The board of directors of the company also approved the issue of 1 crore convertible warrants to the promoters and non-promoters.

Sunil Hitech Engineers net profit rose 8% to Rs 11.89 crore on 6.3% growth in net sales to Rs 443.77 crore in Q1 June 2016 over Q1 June 2015.

Sunil Hitech Engineers is an engineering, procurement & construction (EPC) company.

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Cabinet approves MoU between India and Hungary on cooperation in the field of water management
Oct 13,2016

The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has given its approval for signing of a Memorandum of Understanding (MoU) between India and Hungary on cooperation in the field of water management.

The MoU will be signed between Ministry of Water Resources, River Development and Ganga Rejuvenation, Government of India and the Ministry of Interior, Government of Hungary. It will enhance bilateral cooperation in the field of water management, on the basis of equality and mutual benefits. This will encourage the development of bilateral relations between public and private organizations concerning water resources of both the countries.

Both the countries will get benefited by joint activities and mutual exchange of scientific delegations and experts in the field of water resources development and management. The cooperation, particularly on river basin management/ integrated water resources management, efficiency in water supply and irrigation technology innovation and flood & drought management will help improve the socio-economic conditions of the people of both the countries.

Ministry of Water Resources, River Development and Ganga Rejuvenation is entering into a MoU with Hungary with wide-ranging areas on water sector for the first time.

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Adani Transmission to hold board meeting
Oct 13,2016

Adani Transmission will hold a meeting of the Board of Directors of the Company on 24 October 2016 to consider and approve the Unaudited Financial Results for the quarter and half year ended September 30, 2016.

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Raunaq EPC Intl. to hold board meeting
Oct 13,2016

Raunaq EPC Intl. will hold a meeting of the Board of Directors of the Company on 26 October 2016 to consider, approve and take on record the Standalone Un-audited Financial Results for the quarter ended September 30, 2016.

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Archies to hold board meeting
Oct 13,2016

Archies will hold a meeting of the Board of Directors of the Company on 9 November 2016 to consider and approve the unaudited financial results of the Company for the quarter/ half year ended September 30, 2016.

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BFL Developers to hold board meeting
Oct 13,2016

BFL Developers will hold a meeting of the Board of Directors of the Company on 22 October 2016 Un-Audited Financial Results of the Company for the quarter/ half year ended on September 30, 2016.

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Aptech to hold board meeting
Oct 13,2016

Aptech will hold a meeting of the Board of Directors of the Company on 19 October 2016 to consider and approve, Limited Reviewed Financial Results (Consolidated and Standalone) for the quarter ended September 30, 2016.

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Indian Metals & Ferro Alloys to hold board meeting
Oct 13,2016

Indian Metals & Ferro Alloys will hold a meeting of the Board of Directors of the Company on 24 October 2016 unaudited financial results of the Company for the quarter and half year ended September 30, 2016.

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Adani Enterprises to hold board meeting
Oct 13,2016

Adani Enterprises will hold a meeting of the Board of Directors of the Company on 24 October 2016 to consider and approve the Unaudited Financial Results for the quarter and half year ended 30th September, 2016,

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