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Electrosteel Steels reports standalone net loss of Rs 293.34 crore in the March 2017 quarter
May 16,2017

Net loss of Electrosteel Steels reported to Rs 293.34 crore in the quarter ended March 2017 as against net profit of Rs 265.15 crore during the previous quarter ended March 2016. Sales declined 21.32% to Rs 676.15 crore in the quarter ended March 2017 as against Rs 859.32 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 1463.48 crore in the year ended March 2017 as against net loss of Rs 367.99 crore during the previous year ended March 2016. Sales declined 2.17% to Rs 2541.25 crore in the year ended March 2017 as against Rs 2597.69 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales676.15859.32 -21 2541.252597.69 -2 OPM %6.5619.12 -2.032.66 - PBDT-175.4839.70 PL -984.66-441.93 -123 PBT-293.34-11.37 -2480 -1463.48-644.51 -127 NP-293.34265.15 PL -1463.48-367.99 -298

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Allsec Technologies standalone net profit rises 668.81% in the March 2017 quarter
May 16,2017

Net profit of Allsec Technologies rose 668.81% to Rs 8.38 crore in the quarter ended March 2017 as against Rs 1.09 crore during the previous quarter ended March 2016. Sales rose 11.63% to Rs 31.00 crore in the quarter ended March 2017 as against Rs 27.77 crore during the previous quarter ended March 2016.

For the full year,net profit rose 153.59% to Rs 24.04 crore in the year ended March 2017 as against Rs 9.48 crore during the previous year ended March 2016. Sales rose 7.24% to Rs 116.21 crore in the year ended March 2017 as against Rs 108.36 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales31.0027.77 12 116.21108.36 7 OPM %19.4214.26 -16.5511.75 - PBDT7.034.46 58 25.2317.48 44 PBT6.213.42 82 21.8712.45 76 NP8.381.09 669 24.049.48 154

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Vaibhav Global standalone net profit rises 688.46% in the March 2017 quarter
May 16,2017

Net profit of Vaibhav Global rose 688.46% to Rs 10.25 crore in the quarter ended March 2017 as against Rs 1.30 crore during the previous quarter ended March 2016. Sales rose 20.16% to Rs 118.19 crore in the quarter ended March 2017 as against Rs 98.36 crore during the previous quarter ended March 2016.

For the full year,net profit rose 30.23% to Rs 23.65 crore in the year ended March 2017 as against Rs 18.16 crore during the previous year ended March 2016. Sales rose 32.34% to Rs 478.29 crore in the year ended March 2017 as against Rs 361.41 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales118.1998.36 20 478.29361.41 32 OPM %11.854.35 -7.518.75 - PBDT13.873.53 293 37.8133.79 12 PBT11.551.83 531 29.4728.29 4 NP10.251.30 688 23.6518.16 30

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SSPDL standalone net profit declines 80.91% in the March 2017 quarter
May 16,2017

Net profit of SSPDL declined 80.91% to Rs 1.18 crore in the quarter ended March 2017 as against Rs 6.18 crore during the previous quarter ended March 2016. Sales declined 2.20% to Rs 25.38 crore in the quarter ended March 2017 as against Rs 25.95 crore during the previous quarter ended March 2016.

For the full year,net profit rose 23.37% to Rs 16.31 crore in the year ended March 2017 as against Rs 13.22 crore during the previous year ended March 2016. Sales rose 43.48% to Rs 112.50 crore in the year ended March 2017 as against Rs 78.41 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales25.3825.95 -2 112.5078.41 43 OPM %8.047.28 -23.7912.27 - PBDT2.224.34 -49 25.5911.84 116 PBT2.194.29 -49 25.4111.64 118 NP1.186.18 -81 16.3113.22 23

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Indian Bright Steel Company reports standalone net loss of Rs 0.01 crore in the March 2017 quarter
May 16,2017

Net Loss of Indian Bright Steel Company reported to Rs 0.01 crore in the quarter ended March 2017 as against net loss of Rs 0.04 crore during the previous quarter ended March 2016. There were no Sales reported in the quarter ended March 2017 and during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 0.14 crore in the year ended March 2017 as against net loss of Rs 0.12 crore during the previous year ended March 2016. There were no Sales reported in the year ended March 2017 and during the previous year ended March 2016.

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Greycells Education standalone net profit declines 86.84% in the March 2017 quarter
May 16,2017

Net profit of Greycells Education declined 86.84% to Rs 0.05 crore in the quarter ended March 2017 as against Rs 0.38 crore during the previous quarter ended March 2016. Sales declined 4.82% to Rs 0.79 crore in the quarter ended March 2017 as against Rs 0.83 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 0.26 crore in the year ended March 2017 as against net profit of Rs 0.01 crore during the previous year ended March 2016. Sales declined 3.72% to Rs 2.59 crore in the year ended March 2017 as against Rs 2.69 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales0.790.83 -5 2.592.69 -4 OPM %-32.9119.28 --36.68-26.77 - PBDT0.090.47 -81 -0.130.20 PL PBT0.050.44 -89 -0.260.07 PL NP0.050.38 -87 -0.260.01 PL

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Vindhya Telelinks standalone net profit rises 15.27% in the March 2017 quarter
May 16,2017

Net profit of Vindhya Telelinks rose 15.27% to Rs 23.55 crore in the quarter ended March 2017 as against Rs 20.43 crore during the previous quarter ended March 2016. Sales rose 25.73% to Rs 372.50 crore in the quarter ended March 2017 as against Rs 296.28 crore during the previous quarter ended March 2016.

For the full year,net profit declined 13.07% to Rs 67.24 crore in the year ended March 2017 as against Rs 77.35 crore during the previous year ended March 2016. Sales rose 5.03% to Rs 1033.35 crore in the year ended March 2017 as against Rs 983.86 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales372.50296.28 26 1033.35983.86 5 OPM %10.2713.99 -12.4117.15 - PBDT34.8833.34 5 108.70133.77 -19 PBT31.7029.09 9 96.04120.60 -20 NP23.5520.43 15 67.2477.35 -13

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Skyline Millars reports standalone net loss of Rs 0.53 crore in the March 2017 quarter
May 16,2017

Net Loss of Skyline Millars reported to Rs 0.53 crore in the quarter ended March 2017 as against net loss of Rs 0.60 crore during the previous quarter ended March 2016. Sales declined 86.04% to Rs 0.67 crore in the quarter ended March 2017 as against Rs 4.80 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 5.69 crore in the year ended March 2017 as against net loss of Rs 3.48 crore during the previous year ended March 2016. Sales declined 72.69% to Rs 2.39 crore in the year ended March 2017 as against Rs 8.75 crore during the previous year ended March 2016.

ParticularsQuarter EndedYear Endedn++Mar. 2017Mar. 2016% Var.Mar. 2017Mar. 2016% Var. Sales0.674.80 -86 2.398.75 -73 OPM %-455.22-4.58 --373.64-21.26 - PBDT-2.87-0.34 -744 -7.16-2.35 -205 PBT-2.92-0.59 -395 -7.74-3.34 -132 NP-0.53-0.60 12 -5.69-3.48 -64

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Vindhya Telelinks surges after good Q4 results
May 16,2017

The result was announced after market hours yesterday, 15 May 2017.

Meanwhile, the S&P BSE Sensex was up 230.93 points, or 0.76% to 30,553.05.

On the BSE, 55,000 shares were traded in the counter so far, compared with average daily volumes of 3,589 shares in the past one quarter. The stock had hit a high of Rs 770.75 so far during the day, which is also a 52-week high for the counter. The stock had hit a low of Rs 710.25 so far during the day. The stock hit a 52-week low of Rs 510.65 on 29 September 2016.

The stock had underperformed the market over the past one month till 15 May 2017, falling 0.94% compared with 2.92% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 11.37% as against Sensexs 7% rise.

The small-cap company has equity capital of Rs 11.85 crore. Face value per share is Rs 10.

Vindhya Telelinks net profit fell 13.1% to Rs 67.24 crore on 5% increase in net sales to Rs 1033.35 crore in the year ended March 2017 over the year ended March 2016.

Meanwhile, in a separate announcement after market hours yesterday, 15 May 2017, the company said that its board approved a proposal for substantial expansion-cum-diversification of the companys existing copper cable facility at Rewa, to be executed in stages, for manufacturing of electron beam irradiated cross-linked cables including installation of electron beam accelerator(s) of appropriate rated capacity, with an estimated capital outlay of Rs 32.75 crore, to be funded by a mix of internal accruals and debt.

The company is presently engaged in the manufacturing of a wide variety of cables and it has been decided to expand its products portfolio by diversification into the high end market of specialized electrical cables and electron beam irradiated cross-linked cables. The market for such cables is rapidly expanding due to the exacting technical requirements of new applications and the gradual transition from the conventional cables to the new genre of electron beam irradiated cables particularly in the market segment of solar energy (DC solar cables), railways, ship building, etc.

The substantial expansion-cum-diversification project is likely to be operational in two stages by December 2017, the company said.

Vindhya Telelinks is a leading manufacturer and supplier of jelly filled telecommunication cables, as well as of optical fiber telecommunication cables.

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Tokyo Plast International to hold board meeting
May 16,2017

Tokyo Plast International will hold a meeting of the Board of Directors of the Company on 30 May 2017, to consider and approve the Audited Financial Results (Standalone & Consolidated) of the Company for the quarter & year ended 31st March 2017.

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Ind-Ra: National Steel Policy Bets on Higher Infra Spending Through Government Initiatives to Double Demand Growth
May 16,2017

The National Steel Policy 2017 announced by the Ministry of Steel is betting on higher spending on infrastructure and construction sector through government initiatives to push steel demand and increase utilisation, says India Ratings and Research (Ind-Ra). It is a comprehensive policy, with a focus on targets and means to achieve them. Ind-Ra believes the policy will give a boost to the struggling Indian steel industry; however the execution of provisions in the policy will remain a key challenge for the government. The policy sets guideline to address all the pain points of the industry namely, muted demand, over capacity, raw material price volatility and technology inefficiency, which if adhered to diligently will enable the industry to be better placed to absorb any external shocks.

To achieve the expected demand of 230 MT in 2030-31, steel demand will need to grow at a CAGR of around 7%-7.5% during the period against a CAGR of 3.5%-4% over the last 5 year. In order to achieve the aggressive demand growth target governments focus on building steel demand will be the key, which requires accelerated spending in infrastructure, construction, railways and the defence sector. The policy also focuses on taking steps to encourage the higher use of steel in projects by replacing other materials being used with steel wherever possible. Ind-Ra believes that the expected growth in steel demand looks ambitious and may face hurdles namely, political instability, budget constraint and timely execution of projects.

Further in order to protect the domestic industry from imports to meet the accelerated demand growth the government has announced another policy which provides preference to domestically manufactured iron & steel products for government procurement with immediate effect. The aforesaid policy excludes procurement of grades of steel not manufactured in India or where demand cannot be met through domestic sources. Ind-Ra believes the policy is likely to boost demand and realisations of domestic producers as they will not have to compete with imported material and is likely to increase capacity utilisation though it will be marginal. The steel producers with a higher proportion of value added products in their baskets will benefit the most from the preference policy.

To meet the demand growth the government plans to increase the steel capacity to 300 MT by 2030-31 (122 MT 2015-16), which would require extensive efforts toward increasing the availability of resources namely, infrastructure, raw material and finance. Ind-Ra believes that the capacity creation which requires capital expenditure of around INR10 trillion will lead to stretched credit metrics on a sustained basis for companies, due to the continuous capex undertaken. Ind-Ra expects central public sector enterprises to be under pressure to build capacity for catering to any demand-supply gap after considering the capex by the private sector. Capex undertaken by public sector enterprises may further stretch the metrics of public undertaking, unless the government infuses funds to support capex instead of adding debt. Apart from resources, other hurdles also needs to be addressed like improvement in the approval processes for setting up plants, which generally leads to delays in the completion of projects.

The Indian steel industry imports around 85% of coking coal for producing steel, which is highly volatile and has impacted and continues to remain a concern for companies profitability. The policy has taken cognisance of the same and plans to increase the domestic availability of coking coal through acquisition of overseas assets and the auction of domestic coking coal blocks in coalition with the Ministry of Mines and by installing coal washeries. If successfully implemented and the linkages provided to domestic producers, it will provide some stability to input cost, since producers will continue to depend on imports for majority (around 65%) of their requirements.

India is self-sufficient in terms of iron ore availability to meet the estimates rise in requirements, but needs to expedite the approval process to enable timely availability of the resource. The policy also focuses on increasing the use of low grade iron ore fines in an efficient manner by bringing in regulatory changes, where required.Indian steel industry lacks technological efficiency compared to global standard, thus making us uncompetitive against countries like China, Japan and Korea as well as poses a threat from import substitution. The policy focuses on improvement in the efficiency parameters so as to reduce the cost of production and develop advanced steel products to reduce the dependence on imports. However in order to achieve efficiency levels in most plants a significant amount of capex will be required to be undertaken by steel companies, which looks tough considering their financial health, baring for few large producers.

Ind-Ra believes that policy will be positive for the steel industry, however timely implementation of various steps will be crucial. Further, for the policy to be successful immediate steps to improve the existing situation of the struggling steel industry and ways to build demand leading to improvement in capacity utilisations of existing plants is warranted.

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Amrit Corp hits record high after strong Q4 results
May 16,2017

The result was announced after market hours yesterday, 15 May 2017.

Meanwhile, the S&P BSE Sensex was up 162.45 points, or 0.54% at 30,484.57. The S&P BSE Small-cap index was up 63.77 points, 0.41% at 15,714.14.

High volumes were witnessed on the counter. On the BSE, 3,729 shares were traded on the counter so far as against the average daily volumes of 511 shares in the past one quarter. The stock had hit a high of Rs 738 so far during the day, which is also its record high. The stock hit a low of Rs 680 so far during the day.

The stock had hit a 52-week low of Rs 306 on 24 May 2016. The stock had outperformed the market over the past one month till 15 May 2017, advancing 31.16% compared with the Sensexs 2.92% rise. The scrip had also outperformed the market over the past one quarter advancing 40.73% as against the Sensexs 7.69% rise.

The small-cap company has equity capital of Rs 3.21 crore. Face value per share is Rs 10.

Amrit Corp is the flagship holding company of the Amrit Group. The company operates in various segments viz. dairy milk & milk products, real estate and services & commodities trading.

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Mukesh Babu Financial Services to hold board meeting
May 16,2017

Mukesh Babu Financial Services will hold a meeting of the Board of Directors of the Company on 30 May 2017

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Dynamic Portfolio Management & Services to hold board meeting
May 16,2017

Dynamic Portfolio Management & Services will hold a meeting of the Board of Directors of the Company on 30 May 2017.

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J&K Bank leads gainers in A group
May 16,2017

J&K Bank jumped 8.95% to Rs 88.85 at 13:42 IST. The stock topped the gainers in the BSEs A group. On the BSE, 4.72 lakh shares were traded on the counter so far as against the average daily volumes of 1.37 lakh shares in the past two weeks.

Adani Power surged 7.59% at Rs 32.60. The stock was second biggest gainer in A group. On the BSE, 41.53 lakh shares were traded on the counter so far as against the average daily volumes of 12.10 lakh shares in the past two weeks.

Unitech advanced 5.92% to Rs 5.90. The stock was third biggest gainer in A group. On the BSE, 41.47 lakh shares were traded on the counter so far as against the average daily volumes of 24.18 lakh shares in the past two weeks.

Adani Transmission gained 5% at Rs 99.90. The stock was fourth biggest gainer in A group. On the BSE, 8.91 lakh shares were traded on the counter so far as against the average daily volumes of 4.59 lakh shares in the past two weeks.

Punjab National Bank (PNB) rose 4.61% to Rs 174.65. The stock was fifth biggest gainer in A group. On the BSE, 40.65 lakh shares were traded on the counter so far as against the average daily volumes of 12.60 lakh shares in the past two weeks.

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