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Dynemic Products standalone net profit rises 132.05% in the December 2016 quarter
Feb 13,2017

Net profit of Dynemic Products rose 132.05% to Rs 3.62 crore in the quarter ended December 2016 as against Rs 1.56 crore during the previous quarter ended December 2015. Sales rose 29.43% to Rs 35.49 crore in the quarter ended December 2016 as against Rs 27.42 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales35.4927.42 29 OPM %18.4813.17 - PBDT6.213.18 95 PBT5.412.40 125 NP3.621.56 132

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Milestone Global standalone net profit rises 171.43% in the December 2016 quarter
Feb 13,2017

Net profit of Milestone Global rose 171.43% to Rs 0.19 crore in the quarter ended December 2016 as against Rs 0.07 crore during the previous quarter ended December 2015. Sales rose 15.77% to Rs 2.57 crore in the quarter ended December 2016 as against Rs 2.22 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales2.572.22 16 OPM %14.799.46 - PBDT0.330.15 120 PBT0.250.07 257 NP0.190.07 171

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Avance Technologies standalone net profit declines 75.00% in the December 2016 quarter
Feb 13,2017

Net profit of Avance Technologies declined 75.00% to Rs 0.08 crore in the quarter ended December 2016 as against Rs 0.32 crore during the previous quarter ended December 2015. Sales declined 23.20% to Rs 22.18 crore in the quarter ended December 2016 as against Rs 28.88 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales22.1828.88 -23 OPM %0.361.11 - PBDT0.080.32 -75 PBT0.080.32 -75 NP0.080.32 -75

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United Credit standalone net profit rises 1000.00% in the December 2016 quarter
Feb 13,2017

Net profit of United Credit rose 1000.00% to Rs 0.22 crore in the quarter ended December 2016 as against Rs 0.02 crore during the previous quarter ended December 2015. Sales rose 44.74% to Rs 0.55 crore in the quarter ended December 2016 as against Rs 0.38 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales0.550.38 45 OPM %43.6413.16 - PBDT0.250.05 400 PBT0.230.02 1050 NP0.220.02 1000

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Remsons Industries reports standalone net loss of Rs 0.31 crore in the December 2016 quarter
Feb 13,2017

Net loss of Remsons Industries reported to Rs 0.31 crore in the quarter ended December 2016 as against net profit of Rs 0.79 crore during the previous quarter ended December 2015. Sales rose 10.34% to Rs 32.45 crore in the quarter ended December 2016 as against Rs 29.41 crore during the previous quarter ended December 2015.

ParticularsQuarter Endedn++Dec. 2016Dec. 2015% Var. Sales32.4529.41 10 OPM %1.736.80 - PBDT0.091.58 -94 PBT-0.521.03 PL NP-0.310.79 PL

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Hindalco Industries gains after turnaround Q3 numbers
Feb 13,2017

The result was announced during trading hours today, 13 February 2017.

Meanwhile, the BSE Sensex was down 7.83 points, or 0.03%, to 28,326.42.

On the BSE, so far 14.89 lakh shares were traded in the counter, compared with average daily volumes of 12.89 lakh shares in the past one quarter. The stock had hit a high of Rs 187.90 and a low of Rs 182.10 so far during the day.

The stock hit a 52-week high of Rs 199.90 on 1 February 2017. The stock hit a 52-week low of Rs 58.85 on 12 February 2016. The stock had underperformed the market over the past 30 days till 10 February 2017, rising 3.03% compared with the 3.99% rise in the Sensex. The scrip had also underperformed the market in past one quarter, 5.60% as against Sensexs 5.65% decline.

The large-cap company has equity capital of Rs 206.64 crore. Face value per share is Re 1.

Hindalco Industries total income rose 13.88% to Rs 10134.78 crore in Q3 December 2016 over Q3 December 2015. EBITDA (earnings before interest, tax, depreciation and amortisation) rose 64% to Rs 1405 crore in Q3 December 2016 over Q3 December 2015.

Revenues jumped due to increase in average realization for both aluminium and copper, along with weaker rupee and higher aluminium volumes. Aluminium revenue grew by 9% on the back of strong volume growth and realization. Copper revenue increased by 19% on account of higher copper realization, partly negated by lower by-product prices (Sulphuric Acid and Diammonium Phosphate). The cost of most inputs continued to remain benign, though prices of crude derivatives increased marginally with a rise in crude prices. Alumina costs were lower as compared to last year.

Hindalco Industries, metals flagship company of the Aditya Birla Group, is the industry leader in aluminium and copper.

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DCM Shriram fixes record date for 2nd interim dividend
Feb 13,2017

DCM Shriram has fixed 23 February 2017 as the Record Date for the purpose of Payment of Second Interim Dividend.

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Board of Sumeet Industries approved rights issue
Feb 13,2017

Sumeet Industries announced that in the meeting of the Board of Directors of the Company held on 13 February 2017 following business has taken place;

1. The Board of Directors has considered and approved Issue of Equity Shares upto Rs. 60.00 crore by way of offer and issue of equity shares to the existing shareholders of the Company on a rights basis (Right Issue), at such issue price and rights entitlement ratio as may be decided by the Board in consultation with the Lead Manager, subject to necessary approvals, confirmations and consents as may be necessary/ required for compliance of applicable law including the provisions of the SEBI (ICDR) Regulations, 2009, SEBI (LODR) Regulations, 2015 and the Companies Act 2013.

2. The Board of Directors of the Company evaluated the proposal of setting up Coal based Captive Power Plant which will further reduce our power cost and setting up another new Texturizing Machines which will also improve profit margins with estimated capital expenditure of Rs. 100.00 crore.

3. Board has approved appointment of Dipesh Dasadia as an Additional Director w.e.f. 13 February 2017. Further as per the terms of appointment, the tenure of the said director shall hold office up to the date of the next Annual General Meeting.

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Gartner Says IT Spending in the Banking and Securities Industry in India to Reach $8.9 Billion in 2017
Feb 13,2017

IT spending by banking and securities firms in India will reach $8.9 billion dollars in 2017, an increase of 9.7 percent from 2016, according to Gartner, Inc. This forecast provides total enterprise IT spending for internal spending and spending data on data center systems, devices, software, IT services and telecom services.

IT services will grow the fastest at 13.8 percent in 2017, as firms in the banking and securities industry invest more in business processes, specifically in business process outsourcing. The focus is on outsourcing the activities to achieve operational efficiency and reduce costs in the banking and securities industry in India.

The banking and securities industry in India saw a sea of change from earlier years in 2016 due to the sudden demonetization announcement, said Moutusi Sau, principal research analyst at Gartner. Banks are increasingly working to enhance their customer facing platforms and investing in payment tools.

Further information on the banking and securities industry IT spending is available in the Gartner report: Forecast: Enterprise IT Spending for the Banking and Securities Market, Worldwide, 2014-2020, 4Q16 Update. The banking and securities industry forecast provides total enterprise IT spending, including internal spending and multiple lines of detail surrounding spending on data center, devices, software, IT services and telecom services for 43 countries within 11 regions.

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Board of Nicco Parks & Resorts recommends dividend
Feb 13,2017

Nicco Parks & Resorts announced that the Board of Directors of the Company at its meeting held on 11 February 2017, inter alia, have recommended the dividend of Rs 0.15 per equity Share (i.e. 15%) , subject to the approval of the shareholders.

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Gangotri Cement to hold board meeting
Feb 13,2017

Gangotri Cement will hold a meeting of the Board of Directors of the Company on 14 February 2017, to consider, approve, and take on record the Un-audited Financial results of the Company for the Quarter and nine months ended on 31 December 2016.

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Ace Men Engg Works to hold board meeting
Feb 13,2017

Ace Men Engg Works will hold a meeting of the Board of Directors of the Company on 17 February 2017.

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Board of Jullundur Motor Agency (Delhi) recommends dividend
Feb 13,2017

Jullundur Motor Agency (Delhi) announced that the Board of Directors of the Company at its meeting held on 10 February 2017, inter alia, have recommended the dividend of Rs 4 per equity Share (i.e. 40%) , subject to the approval of the shareholders.

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Bring in Land & Real Estate within GST Purview & Keep Consumer Durables at Lower Rates Post GST: Manish Sisodia
Feb 13,2017

Deputy Chief Minister and Minister of Finance, Government of NCT of Delhi, Manish Sisodia on Thursday demanded that land and real estate ought to be brought in within the ambit of GST and its taxation slab for vast majority of consumer durables be kept at lower ceilings to make GST a mass friendly taxation.

The Minister assured India Inc. that he would still take up the aforesaid issues in the forthcoming GST Council meetings as he felt that land and real estate being outside purview of GST and that higher taxation slab for consumer durables would kill its basic purpose.

Addressing a n++National GST Conclave : One Nation One Tax-Pivotal Tax Reformsn++ organized by the PHD Chamber of Commerce and Industry, Mr. Sisodia also declared that dual control of GST also defeated its intended objectives and sought more intense consultations on the issue in future course of GST Council, arguing that the objective of the GST should be consumer and traders oriented and it should not entirely aim at raising taxation with higher rates.

n++I fought tooth and nail for inclusion of land and real estate within the ambit of GST but somehow there couldnt be an absolute consensus on the issue at number of GST Council Meetings of all the States Finance Ministers because of obvious reasons. I will still try for its inclusion in GST as land and real estate has received huge investments both outside and inside the countryn++, the Minister pointed out making a prophecy that the future generations will suffer its pain in the long run if land and real estate remain outside purview of GST.

n++Consumer durables such as TV, Mobiles, electric appliances and host of similar such articles should not be taxed luxuriously. That is our view and we will continue to articulate them whenever necessary in the interest of Aam Aadmi though the GST tax rates have yet to be finalizedn++, said Mr. Sisodia.

Chairman, CBEC, Mr. Najib Shah in his remarks, emphasized asking industry not to keep seeking exemptions under the GST regime as most of such exemptions would go away after it is put in place after July 1st although the deciding authority on doing away with exemptions post GST and fixing its rates would be the prerogative of the GST Council.

The Chairman also clarified that the anti-profiteering clause in GST Law is there as an enabler and industry should not read too much on it, promising that post GST host of indirect taxes would subsume in it making the new law user friendly.

President, PHD Chamber, Mr. Gopal Jiwarajka in his welcome remarks, demanded to know the justification of anti-profiteering clause in GST regime though he felt that post GST, indirect taxation would be by and large compliant by all sections of society and pave the way for higher revenue generation for the government.

In his opening remarks, Chairman, Indirect Taxes Committee, PHD Chamber, Mr. Bimal Jain said that for implementation of GST Law by July 1, find GST Law with Rules made public for impact and IT preparedness as also 4-tier rates classification of goods list be provided. Training and awareness programme should be conducted for both government officials and trade for better implementation of GST so that it becomes seamless and easier for its timely implementation.

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Suzlon Energy jumps after robust Q3 numbers
Feb 13,2017

The result was announced after market hours on Friday, 10 February 2017.

Meanwhile, the BSE Sensex was down 50.53 points, or 0.18%, to 28,283.72.

On the BSE, so far 1.66 crore shares were traded in the counter, compared with average daily volumes of 50.98 lakh shares in the past one quarter. The stock had hit a high of Rs 19.10 and a low of Rs 17.90 so far during the day.

The stock hit a 52-week high of Rs 19.10 on 12 July 2016. The stock hit a 52-week low of Rs 12.47 on 9 November 2016. The stock had outperformed the market over the past 30 days till 10 February 2017, rising 13.31% compared with the 3.99% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 18.13% as against Sensexs 5.65% decline.

The mid-cap company has equity capital of Rs 1004.88 crore. Face value per share is Rs 2.

Suzlon Energys consolidated net sales rose 75.68% to Rs 3307.48 crore in Q3 December 2016 over in Q3 December 2015.

Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose 124% to Rs 745 crore in Q3 December 2016 over in Q3 December 2015.

Consolidated net term debt (excluding foreign currency convertible bond or FCCB) was reported at Rs 6538 crore. Working capital debt was reported at Rs 3167 crore.

The companys consolidated order book stood at 1,231 megawatts (MW) valued at Rs 7523 crore.

The Suzlon Group is one of the leading renewable energy solutions providers in the world with an international presence across 19 countries in Asia, Australia, Europe, Africa and North and South America.

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