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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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Shreyas Shipping gains after subsidiary sells stake in SRS Freight
Oct 14,2016

The announcement was made after market hours yesterday, 13 October 2016.

Meanwhile, the S&P BSE Sensex was down 32.57 points or 0.12% at 27,610.54.

On BSE, so far 10,352 shares exchanged hands on the counter compared with average daily volume of 18,360 shares in the past one quarter. The stock hit a high of Rs 308 and a low of Rs 287.05 so far during the day. The stock had hit a 52-week high of Rs 529.40 on 19 October 2015. The stock had hit a 52-week low of Rs 133.10 on 17 February 2016. The stock had outperformed the market over the past one month till 13 October 2016, rising 9.83% compared with 2.51% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 33.11% as against Sensexs 0.62% drop.

The small-cap company has equity capital of Rs 21.96 crore. Face value per share is Rs 10.

On consolidated basis, Shreyas Shipping & Logistics net profit fell 61.8% to Rs 6.25 crore on 20.9% growth in total income to Rs 163.90 crore in Q1 June 2016 over Q1 June 2015.

Shreyas Shipping & Logistics is the ship owning and operating unit of Transwortd Group in the Indian subcontinent. The company provides crucial links between Indian ports which helps in providing door-to-door logistics solutions through its wholly-owned subsidiary company, Shreyas Relay Systems and also assists transhipment of cargo from these ports.

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Trident gets upgradation in ratings for bank facilities
Oct 14,2016

Trident announced that CRISIL has upgraded the ratings for the Companys bank facilities (Rs 4291.62 crore) as under -

Long term rating - CRISIL A/ Stable (Upgraded from CRISIL A-/ Stable)
Short term rating - CRISIL A1 (Upgraded from CRISIL A2+)

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Shetron announces resignation of compliance officer
Oct 14,2016

Shetron announced that Chitra K has resigned from the post of Compliance Officer and Assistant Company Secretary of the Company and her resignation has been accepted with effect from the close of normal office hours on 18 July 2016.

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Board of Eon Electric allots convertible warrants
Oct 14,2016

Eon Electric announced that the Board of Directors of the Company at its meeting held on 13 October 2016 has allotted 8,45,000 convertible warrants at price of Rs 66.50 (including premium of Rs 61.50) per warrant to VPM Electricals (Promoter & Promoter Group).

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Board of Gallantt Ispat approves resignation of director
Oct 14,2016

The Board of Directors of Gallantt Ispat at meeting held on 13 October 2016 approved the resignation of Rajesh Kumar Jain as Director of the Company due to his preoccupation and other engagements.

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Infosys drops after paring revenue growth guidance for FY 2017
Oct 14,2016

The result was announced during market hours today, 14 October 2016. The results were as per International Financial Reporting Standards (IFRS).

Meanwhile, the S&P BSE Sensex was down 58.21 points or 0.21% at 27,584.90.

On BSE, so far 1.57 lakh shares were traded in the counter as against average daily volume of 3.32 lakh shares in the past one quarter. The stock hit a high of Rs 1,080.70 in intraday trade. The stock hit a low of Rs 996.15 so far during the day, which is a 52-week low for the stock. The stock had hit a record high of Rs 1,278 on 3 June 2016.

The large-cap company has equity capital of Rs 1148.47 crore. Face value per share is Rs 5.

In its outlook, the company said that consolidated revenue for the fiscal year ending 31 March 2017 (FY 2017) is expected to grow 8% to 9% in constant currency. The guidance translates to 9.2% to 10.2% in rupee terms based on 31 March 2016 rates, 11.2% to 12.2% based on 30 June 2016 and 10.9% to 11.9% based on 30 September 2016 rates.

The company has further cut its revenue guidance for FY 2017. At the time of announcement of Q1 results, in constant currency terms, the company had forecast 10.5%-12% growth in revenue for FY 2017. At the time of announcement of Q4 March 2016 and FY 2016 results, the company had forecast 11.5%-13.5% growth in revenue for FY 2017 in constant currency terms.

The companys consolidated net profit grew 4.9% to Rs 3606 crore on 3.1% growth in revenue to Rs 17310 crore in Q2 September 2016 over Q1 June 2016.

Infosys board of directors declared an interim dividend of Rs 11 per share for the year ending 31 March 2017 (FY 2017).

Infosys is one of the leading information technology outsourcing services providers. The company provides business consulting, information technology and outsourcing services.

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Issue of Disability Pension for Defence Forces Personnel referred to 7th CPC Anomaly Committee
Oct 14,2016

The 7th Central Pay Commission (CPC) recommended a slab based system for determining the disability pension for Defence Forces Personnel, which was accepted by the Government. Percentage based system was followed in the 6th CPC regime for calculating disability pension for Defence Forces Personnel as well as Civilians.

Service Headquarters have represented that the percentage based system should be continued under the 7th CPC for calculating disability pension for Defence Services at par with their Civilian counterparts.

The Ministry has referred the representation of the Service Headquarters to the Anomaly Committee of 7th CPC for consideration.

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Board of Bhaskar Agrochemicals approves change in registered office
Oct 14,2016

Bhaskar Agrochemicals announced that the Board of Directors of the Company at its meeting held on 13 October 2016 has considered and approved the shifting of the Registered Office of the Company at the same place where the Corporate Office of the Company is situated i.e 6-3-347/9, F No. 503, Riviera Apts, 6-3-347/9, Dwarakapuri Colony, Panjagutta, Hyderabad - 500 082, Telangana.

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Yes Bank to hold board meeting
Oct 14,2016

Yes Bank will hold a meeting of the Board of Directors of the Company on 20 October 2016 to consider and approve the Unaudited Financial Results of the Bank for the quarter and half year ended September 30, 2016 (Q2),Update on QIP and Fund Raising by way of QIP and debt issues, under the current shareholders approval which is valid till June 06, 2017.

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Board of Infosys appoints director
Oct 14,2016

The Board of Directors of Infosys at meeting held on 14 October 2016 have appointed D N Prahlad as Independent Director effective from that date.

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Infosys fixes record date for interim dividend
Oct 14,2016

Infosys has fixed record date of 24 October 2016 for payment of interim dividend of Rs 11 per share and the payment will be made on 26 October 2016.

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Karnataka Bank moves north after setting record date for rights issue
Oct 14,2016

The announcement was made after market hours yesterday, 13 October 2016.

Meanwhile, the S&P BSE Sensex was up 77.60 points or 0.28% at 27,720.71.

On BSE, so far 34,000 shares were traded in the counter as against average daily volume of 1.50 lakh shares in the past two weeks. The stock hit a high of Rs 149 and a low of Rs 144.65 so far during the day. The stock had hit a 52-week high of Rs 162.10 on 7 September 2016. The stock had hit a 52-week low of Rs 84.85 on 29 February 2016. The stock had underperformed the market over the past one month till 13 October 2016, sliding 4.55% compared with 2.51% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 3.57% as against Sensexs 0.62% fall.

The small-cap company has equity capital of Rs 188.47 crore. Face value per share is Rs 10.

Karnataka Bank proposes to issue rights in the ratio of 1:2 i.e. one equity share for every two equity shares held on the record date. The size of the issue is Rs 659.65 crore. The rights issue price is Rs 70 per share.

Karnataka Banks net profit rose 11.2% to Rs 121.54 crore on 6.4% growth in total income to Rs 1434.96 crore in Q1 June 2016 over Q1 June 2015.

Karnataka Bank is a private sector bank in India.

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PetroFed signs MoU with TERI to undertake a study on Climate Change Risks
Oct 14,2016

PetroFed, an apex society of entities in the Hydrocarbon sector, today signed a Memorandum of Understanding (MoU) with TERI to undertake study on n++Climate Change Risks: Preparedness for Oil and Gas Sectorn++.

Lauding the initiative, Sh. Pradhan said that it will provide a missing link between the policy and the practice in the Hydrocarbon sector. He said Cop 21 will come into effect soon and it is important for the country to know the effects of greenhouse gases and ways to control them.

Cop21-The 2015 United Nations Climate Change Conference, COP 21 or CMP 11 was held in Paris, France, from 30 November to 12 December 2015. It was the 21st yearly session of the Conference of the Parties (COP) to the 1992 United Nations Framework Convention on Climate Change (UNFCCC) and the 11th session of the Meeting of the Parties to the 1997 Kyoto Protocol.

The conference negotiated the Paris Agreement, a global agreement on the reduction of climate change, the text of which represented a consensus of the representatives of the 196 parties attending it. The agreement will enter into force when joined by at least 55 countries which together represent at least 55 percent of global greenhouse emissions. On 22 April 2016 (Earth Day), 174 countries signed the agreement in New York, and began adopting it within their own legal systems (through ratification, acceptance, approval, or accession).

The Minister said that India is a low per capita energy consumer but as the country is moving towards double-digit growth rate, its energy consumption is bound to increase. The Government is focusing on gas, renewable energy and bio-energy to meet its requirements. It is important to understand the implications of various energy sources and to develop an Indian model for the nations energy sector.

Sh. Pradhan emphasised on scientific research, appropriate business models and creation of awareness among the people. He said that this study will provide important inputs for future strategy on oil and gas infrastructure development. He stated that the study will also provide a comprehensive analysis of threats posed by Climate change to Oil & Gas sector and shall provide a way forward to tackle the challenges posed by climate change. The study will suggest suitable measures for the Oil & Gas sector to achieve Indias INDC target of reducing emission intensity of GDP by 33 - 35 per cent below the levels in 2005 by 2030. The study would further highlight how the global market and technological options are likely to change as a result of global climate policy measures; and how the 1.5 degree and 2 degree scenarios of global warming are likely to affect the infrastructure and operations in different climatic zones of India.

The Minister said the share of gas in the Indian energy basket is 6.5 to 7 per cent while the world average is 24 per cent. India aspires to take the share of gas to 15 per cent in the next 3 to 5 years so as to have a new gas based economy. He said 80 lakh connections have been provided under the Prime Minister Ujjwala Yojana to BPL women and target of 1.5 crore will be achieved this year. The Minister said the country will zoom from BS IV to BS VI by 2020 so as to have clean fuel. He said there is a large scope of energy efficiency in Indian Refineries. On the issue of 2G Ethanol, Sh. Pradhan said Public Sector Companies are setting up 11 plants to manufacture 2G Ethanol. He said the Government wants to promote the LNG as a fuel for vehicles. Efforts are being made to have LNG driven bus in Kerala very soon. Long haul driven vehicles and trains would also adopt LNG as fuel. The LNG handling capacity is being enhanced from 21 MMT to 50 MMT. In Eastern India, the Government is laying 2500km long pipeline which will provide gas to industry and help in gas distribution in 7 cities of Eastern India.

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TCS declines slightly after announcing Q2 results
Oct 14,2016

The result was announced after market hours yesterday, 13 October 2016.

Meanwhile, the S&P BSE Sensex was up 24.75 points or 0.09% at 27,667.86.

On BSE, so far 35,000 shares were traded in the counter as against average daily volume of 1.24 lakh shares in the past one quarter. The stock hit a high of Rs 2,325.50 and a low of Rs 2,298.85 so far during the day.

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

Commenting on the companys Q2 performance, CEO and MD, N Chandrasekaran said it has been an unusual Q2 for TCS. Growing uncertainties in the environment is creating caution among customers and resulted in holdbacks in discretionary spending this quarter, he said. In addition, volatility in markets like India and Latin America also muted revenue growth, he said. It has been a good quarter from a profitability perspective where despite multiple headwinds the companys disciplined approach and focus on operations has helped it deliver a strong margin performance, Chandrasekaran said.

Rajesh Gopinathan, Chief Financial Officer of TCS said that Q2 September 2016 has been a quarter of good financial performance with sequential improvement in profitability and strong cash generation despite multiple headwinds including global currency and market volatility through the quarter.

TCS declared a second interim dividend of Rs 6.50 per share for the year ending 31 March 2017 (FY 2017).

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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Alankit fixes record date for bonus issue
Oct 14,2016

Alankit has fixed Record Date as 20 October 2016 for the purpose of determine the shareholders who are entitled for Bonus Equity Shares in the ratio of 1:1 (i.e. One equity share of Rs 2/- each for every one equity shares of Rs. 2/- each held by them.

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