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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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Ceiling prices of 464 formulation fixed after announcement of NLEM, 2015 and Revised Schedule-I, resulting in savings of Rs 2288 crore for consumers
Sep 27,2016

Ceiling prices of 464 formulation (amounting to nearly 7000 different stock keeping units) have been fixed by the government after the announcement of National List of Essential Medicines (NLEM), 2015 and Revised Schedule-I. This has resulted in effective savings to the consumers of the country Rs. 2288 Crore by way of reduced prices.

A section of the media had recently published a news item, stating that prices of 100 drugs may increase by 10% as they are now out of essentials list. The news item is misleading and is not in tune with the factual position.

The correct factual position is as under: -

Consequent to notification of National Pharmaceuticals Pricing Policy-2012 (NPPP-2012) on 7.12.2012 and notification of Drugs (Price Control) Order, 2013 (DPCO, 2013), all the medicines as specified in the NLEM-2011 were brought under price control. Ministry of Health and Family Welfare constituted a Core-Committee to revise the NLEM under the Chairmanship of Secretary, Department of Health Research and Dr. Y K Gupta, Professor and Head, Department of Pharmacology, AIIMS as the Vice Chairman. This Committee evaluated the medicines on the objective criteria for inclusion and deletion.

The criteria for deletion of medicines from National List of Essential Medicines is as follows:-

n++ The medicine has been banned in India.

n++ There are reports of concerns on the safety profile of a medicine.

n++ A medicine with better efficacy or favourable safety profiles and better cost-effective is now available.

n++ The disease burden for which a medicine is indicated is no longer a national health concern in India.

n++ In case of antimicrobials, if the resistance pattern has rendered a medicine ineffective in Indian context.

Based on the scientific criteria, Core Committee recommended inclusion of 106 medicines and deletion of 70 medicines from the earlier NLEM, 2011. The Pharmaceutical Pricing Policy entails the price control of only schedule-1 medicines which are included in the NLEM. The medicines, which ceased to be part of NLEM, 2015 and Schedule-1, will only be monitored as non-scheduled medicines. Non-scheduled medicines are allowed an increase of upto 10% in the prices every year, which is monitored by the National Pharmaceutical Pricing Authority (NPPA).

In the detailed analysis of the number of medicines deleted and added in the Schedule-1, therapeutic category-wise in the revised NLEM, 2015, (indicated in Annexures) shows that there are sufficient number of medicines in each of the categories. These scheduled medicines represent a wide range of medicines for different therapeutic groups and will help in promoting medicines with better efficiency and favourable safety profiles, which are now under price control due to their inclusion in NLEM, which is in the public interest.

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MCX spurts after raising transaction fee
Sep 27,2016

The company made the announcement ysterday, 26 September 2016.

Meanwhile, the BSE Sensex was up 98.71 points, or 0.35%, to 28,392.99.

On BSE, so far 3.93 lakh shares were traded in the counter, compared with average daily volume of 49,502 shares in the past one quarter. The stock hit a high of Rs 1,181.35 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 1,075 so far during the day. The stock hit a 52-week low of Rs 726 on 12 February 2016. The stock had outperformed the market over the past 30 days till 26 September 2016, rising 8.76% compared with 1.84% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 7.18% as against Sensexs 6.67% rise.

The mid-cap commodity exchange has equity capital of Rs 51 crore. Face value per share is Rs 10.

For trading in non-agricultural commodities, Multi Commodity Exchange of India (MCX) has increased the transaction fee to Rs 2.60 for every Rs 1 lakh turnover for members generating a monthly average daily turnover of up to Rs 350 crore. Incremental turnover above Rs 350 crore would attract a charge of Rs 1.75 per lakh. In the case of agriculturural commodities, MCX has increased the transaction charges to Rs 1.75 for every Rs 1 lakh turnover.

The transaction fee shall be debited on a monthly basis to the settlement account of the members in the first week of the succeeding month. The above said transaction fee structure will be effective for trades executed from 1 October 2016 onwards and will be valid till further notice.

Earlier on 26 February 2014, MCX had slashed transaction charges. MCX charged 75 paise for every Rs 1 lakh turnover for members generating a monthly average daily turnover of up to Rs 20 crore for trading in agricultural commodities. Incremental turnover above Rs 20 crore attracted a charge of 50 paise per lakh. In the case of non-agriculturural commodities, MCX charged Rs 2.10 for every Rs 1 lakh turnover, for members generating average daily turnover of up to Rs 350 crore, and Rs 1.40 per lakh on incremental turnover above Rs 350 crore.

MCXs net profit rose 54.5% to Rs 32.81 crore on 12.5% rise in net sales to Rs 58.23 crore in Q1 June 2016 over Q1 June 2015.

MCX is Indias first listed, national-level, electronic, commodity futures exchange with permanent recognition from the Government of India.

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To facilitate declarants, counters for receiving declarations under Income Declaration Scheme 2016 to remain functional till 12:00 midnight on 30 Sep
Sep 27,2016

In order to facilitate the declarants who would like to file the declaration in paper form under the Income Declaration Scheme, 2016, the Central Board of Direct Taxes (CBDT) has issued instructions to all Principal Chief Commissioners of Income Tax across India to ensure that arrangements are made for receiving such declarations till midnight of 30-09-2016.

Declarations can also be made online as well as in printed copies of the prescribed form upto midnight on 30th September, 2016.

Accordingly, the counters for receiving declarations under the Income Declaration Scheme - 2016 shall be functional till 12:00 midnight on 30th September, 2016.

The Income Declaration Scheme, 2016 came into effect from 1st June, 2016. It provides an opportunity to persons who have not paid full taxes in the past to come forward and declare their undisclosed income and assets.

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Maithan Alloys drops after intimating about damage at Visakhapatnam plant
Sep 27,2016

The announcement was made after market hours yesterday, 26 September 2016.

Meanwhile, the S&P BSE Sensex was up 84.62 points, or 0.3% to 28,378.90

On BSE, so far 22,000 shares were traded in the counter as against an average daily volume of 21,749 shares in the past one quarter. The stock hit a high of Rs 250.50 and a low of Rs 210.20 so far during the day. The stock had hit a 52-week high of Rs 434.50 on 8 August 2016. The stock hit 52-week low of Rs 77 on 1 October 2015. The stock had underperformed the market over the past 30 days till 26 September 2016, falling 11.43% compared with 1.84% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 1.29% as against Sensexs 6.67% rise.

The small-cap company has equity capital is Rs 29.11 crore. Face value per share is Rs 10.

Maithan Alloys said that due to heavy rains and flood, there has been severe damage to 132 kilovolt (KV) power transformer and other electrical equipment installed at the companys Visakhapatnam plant. The full damage is yet to be ascertained, Maithan Alloys said. The transformer and other electrical equipment are fully insured, the company said. The production at the plant could be significantly affected over the next few months, it added.

Maithan Alloys net profit rose 132.57% to Rs 18.28 crore on 36.14% growth in net sales to Rs 251.77 crore in Q1 June 2016 over Q1 June 2015.

Maithan Alloys operates in the niche value-added manganese alloy segment.

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Adhbhut Infrastructure to hold AGM
Sep 27,2016

Adhbhut Infrastructure announced that the 31th Annual General Meeting(AGM) of the company on 26 September 2016.

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Alliance Integrated Metaliks to hold AGM
Sep 27,2016

Alliance Integrated Metaliks announced that the 27th Annual General Meeting(AGM) of the company on 26 September 2016.

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South Indian Bank to hold board meeting
Sep 27,2016

South Indian Bank will hold a meeting of the Board of Directors of the Company on 7 October 2016 to consider, approve and take on record the unaudited Financial Results of the Bank for the quarter ending September 30, 2016 (Q2).

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Wipro to hold board meeting
Sep 27,2016

Wipro will hold a meeting of the Board of Directors of the Company on 21 October 2016.

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Indoco Remedies slides on reports of getting six USFDA observations for Goa Plants
Sep 27,2016

Meanwhile, the BSE Sensex was up 74.40 points, or 0.26%, to 28,368.68.

On BSE, so far 43,000 shares were traded in the counter, compared with average daily volume of 9,498 shares in the past one quarter. The stock hit a high of Rs 328 and a low of Rs 312.40 so far during the day. The stock hit a 52-week high of Rs 360.35 on 7 September 2016. The stock hit a 52-week low of Rs 244 on 25 February 2016. The stock had outperformed the market over the past 30 days till 26 September 2016, rising 10.76% compared with 1.84% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 26.18% as against Sensexs 6.67% rise.

The mid-cap company has equity capital of Rs 18.43 crore. Face value per share is Rs 2.

According to reports, Indoco Remedies Goa Plant II and III were inspected by US Food and Drug Administration (USFDA) from 31 August 2016 to 4 September 2016. Six observations cover quality, production systems, facilities and equipment, and customer complaints.

The companys Goa Plant II is a sterile facility for ophthalmics and injectables approved by USFDA for ophthalmic preparations. The companys Goa Plant III has a capability to manufacture aqueous, non-aqueous and photo sensitive products.

Reports added that the companys Goa Plant II is important as most ophthalmic Abbreviated New Drug Applications (ANDAs) are filed from here.

Indoco Remedies net profit declined 4.9% to Rs 19.79 crore on 15.8% rise in net sales to Rs 252.72 crore in Q1 June 2016 over Q1 June 2015.

Indoco Remedies is a fully integrated, research-oriented pharma vompany with presence in 55 countries.

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Ramco System deploys its ERP Solution for Sedafiat Sdn. Bhd
Sep 27,2016

Ramco System announced that the Malaysian government-backed Hospital Support Services provider Sedafiat Sdn. Bhd. has successfully gone live with the Companys full-suite ERP solution, to manage non-clinical services across 27 hospitals, in Sabah region.

Ramcos integrated ERP suite digitizes the Accounting, HR & Payroll and Supply Chain Management functions, including Book Keeping, Inventory, Procurement, Employee Information, Leave and Time Management, among the others. With an automated system in place, Sedafiat is well placed to manage operations spanning across Facility Management, Maintenance (Engineering & Bio-medical), Cleansing, Linen & Laundry Services and Healthcare Waste Management Services among others.

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Asian Granito India fixes record date for interim dividend
Sep 27,2016

Asian Granito India has fixed 07 October 2016 as the Record Date for the purpose of Payment of Interim Dividend.

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Asia Can Reap Solid Returns From Low-Carbon Transition - ADB
Sep 27,2016

Developing Asia stands to gain far more than it will need to pay to shift to low-carbon growth, says a new Asian Development Bank (ADB) report.

Keeping global temperature increases below 2 degrees Celsius, as agreed at the 2015 Paris climate summit, will require developing Asia to spend an additional net $300 billion per year on clean-energy infrastructure alone through 2050. The finding is set forth in a special theme chapter, n++Meeting the Low-Carbon Growth Challengen++ in an update to its flagship annual economic publication, Asian Development Outlook 2016.

n++This is a substantial sum but the economic returns from adopting low-carbon policies needed to mitigate the increasingly devastating impacts of climate change far outweigh the costs,n++ said Juzhong Zhuang, Deputy Chief Economist. n++ADB estimates that the region can generate more than $2 in gains for each $1 of cost it bears to reach the Paris goaln++if the right steps are taken.n++

Developing Asia has joined the global fight to contain climate change. Around 90% of the regions economies have made pledges to mitigate their greenhouse gas emissions under the Paris agreement. The consequence of inaction could be devastating. If left uncontrolled, the report estimates that climate change could cut the regions GDP by more than 10% by 2100, eating away its hard-won socioeconomic gains.

Climate mitigation not only helps avoid such GDP losses, it brings many other benefits. The report notes that actions to keep global warming below 2 degrees Celsius can lead to improved air quality that helps to avoid nearly 600,000 premature deaths a year in the region than under business-as-usual. Those same actions would preserve over 45 million more hectares of forest.

As the worlds fastest growing source of carbon emissions, Asias engagement is crucial for the world to have any chance of meeting the Paris temperature goal. The regions success will require a quantum shift in energy use since fossil fuels currently contribute over two thirds of Asias total emissions. The report estimates that half of the regions emissions reduction through 2050 can come from low-carbon energy production and another third from energy efficiency measures, with the rest achieved by curtailing emissions from forest deforestation, land degradation, and other non-energy sources.

Sharply scaling up new investments in renewable power, smart grids, energy efficiency measures, and carbon capture and storage technologies are all essential to developing Asias low-carbon transition. Resources freed up by eliminating costly fossil fuel subsidies can be redirected to clean energy investments.

Because developing Asias mitigation costs are lower than in other parts of the world, the region can benefit from the development of a market to buy and sell carbon credits. According to the report, such a carbon market can reduce the regions mitigation costs by 50%, compared with countries acting alone. Further, bringing ambitious actions to cut emissions forward by 10 years is found to increase benefit-cost ratios by more than 30% and lower long-run costs by more than a quarter.

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Sintex Inds drops after allotment of shares on rights basis
Sep 27,2016

The announcement was made after market hours yesterday, 26 September 2016.

Meanwhile, the S&P BSE Sensex was up 57.24 points or 0.2% at 28,351.52

On BSE, so far 8.53 lakh shares were traded in the counter as against average daily volume of 8.17 lakh shares in the past one quarter. The stock hit a high of Rs 86.70 and a low of Rs 81.40 so far during the day. The stock had hit a 52-week high of Rs 106.52 on 15 October 2015. The stock had hit a 52-week low of Rs 62.40 on 12 February 2016. The stock had outperformed the market over the past 30 days till 26 September 2016, rising 18.69% compared with 1.84% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 14.55% as against Sensexs 6.67% rise.

The mid-cap company has equity capital of Rs 52.34 crore. Face value per share is Re 1.

It may be recalled that shares of Sintex Industries had turned ex-rights on 8 August 2016. The company had fixed 9 August 2016 as record date for the rights issue. The company had approved issue of shares to shareholders in ratio of 26 shares on rights basis for every 151 shares held in the company at Rs 65 per share.

Sintex Industries consolidated net profit rose 11.45% to Rs 76.03 crore on 16.48% growth in net sales to Rs 1695.25 crore in Q1 June 2016 over Q1 June 2015.

Sintex Industries is a dominant player in the plastics and textile business segments.

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Himadri Speciality Chemical provides operations update
Sep 27,2016

Himadri Speciality Chemical announced that the Companys melting facility at Sambalpur in the state of Odisha has commenced its operations.

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Yes Bank gains on plan to raise Rs 330 crore via green bonds
Sep 27,2016

The announcement was made during market hours today, 27 September 2016.

Meanwhile, the BSE Sensex was up 57.45 points, or 0.20%, to 28,351.73.

On BSE, so far 40,000 shares were traded in the counter, compared with average daily volume of 2.48 lakh shares in the past one quarter. The stock hit a high of Rs 1,251.65 and a low of Rs 1,238.85 so far during the day. The stock hit a record high of Rs 1,450 on 7 September 2016. The stock hit a 52-week low of Rs 632.25 on 20 January 2016. The stock had underperformed the market over the past 30 days till 26 September 2016, falling 6.80% compared with 1.84% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 15.61% as against Sensexs 6.67% rise.

The large-cap private sector bank has equity capital of Rs 421.35 crore. Face value per share is Rs 10.

Yes Bank announced that it will raise Rs 330 crore (approximately $50 million equivalent) through an issue of a 7-year Green Infrastructure Bonds to FMO, the Dutch Development Bank, on a private placement basis. FMO will be investing in Yes Banks bonds through FMOs own sustainable bonds. The definitive agreement was signed at the fourth edition of FMOs Future of Finance conference being held in Katwijk, The Netherlands.

The amount raised will be used by Yes Bank to finance Green Infrastructure including solar and wind projects in the renewable energy space. This issuance would be externally assured by a reputed third party. An external annual review and monitoring would be undertaken on the use of proceeds in line with the Green Bond Principles 2016. This is the third such green bond issuance by Yes Bank in the last 18 months, after the successful maiden issuance of Rs 1000 crore ($160 million equivalent) in February 2015 followed by the Rs 315 crore ($50 million equivalent) private placement to International Finance Corporation (IFC), Washington in August 2015.

India is currently actively tapping into its renewable energy potential with the announced target of 175 gigawatt (GW) of capacity installation by 2022, and favourable policy support. India is estimated to require over $150 billion (about 10 lakh crore equivalent) for achieving the renewable energy target by 2022, the bank said in a statement.

Green Bonds have been emerging as one of the primary sources of financing for renewable energy across the world. Globally, the issues amounted to almost $46 billion in 2015, and Indias Green Bond market also has seen an exponential growth, touching $2 billion, post Yes Banks first issue in February 2015. Such issuances will catalyze the market for Green Bonds in India and encourage responsible investors to facilitate funding towards renewable and clean energy projects, it added.

Yes Banks net profit rose 32.8% to Rs 731.80 crore on 25.4% growth in operating income to Rs 4762.83 crore in Q1 June 2016 over Q1 June 2015.

Yes Bank is one of the leading private sector banks in India.

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