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Tulasee Bio-Ethanol reports standalone nil net profit/loss in the September 2016 quarter
Nov 18,2016

Tulasee Bio-Ethanol reported no net profit/loss in the quarter ended September 2016 and during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 and during the previous quarter ended September 2015.

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Sagar Systech reports standalone net loss of Rs 0.01 crore in the September 2016 quarter
Nov 18,2016

Net Loss of Sagar Systech reported to Rs 0.01 crore in the quarter ended September 2016 as against net loss of Rs 0.01 crore during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 and during the previous quarter ended September 2015.

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Jyotirgamya Enterprises reports standalone nil net profit/loss in the September 2016 quarter
Nov 18,2016

Jyotirgamya Enterprises reported no net profit/loss in the quarter ended September 2016 as against net loss of Rs 0.02 crore during the previous quarter ended September 2015. Sales reported to Rs 0.04 crore in the quarter ended September 2016. There were no Sales reported during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales0.040 0 OPM %00 - PBDT0.01-0.01 LP PBT0-0.02 100 NP0-0.02 100

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Arman Financial Services standalone net profit rises 30.88% in the September 2016 quarter
Nov 18,2016

Net profit of Arman Financial Services rose 30.88% to Rs 0.89 crore in the quarter ended September 2016 as against Rs 0.68 crore during the previous quarter ended September 2015. Sales rose 2.20% to Rs 4.19 crore in the quarter ended September 2016 as against Rs 4.10 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales4.194.10 2 OPM %64.6860.24 - PBDT1.361.11 23 PBT1.331.08 23 NP0.890.68 31

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Tyroon Tea Company standalone net profit declines 28.01% in the September 2016 quarter
Nov 18,2016

Net profit of Tyroon Tea Company declined 28.01% to Rs 2.75 crore in the quarter ended September 2016 as against Rs 3.82 crore during the previous quarter ended September 2015. Sales declined 21.59% to Rs 7.99 crore in the quarter ended September 2016 as against Rs 10.19 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales7.9910.19 -22 OPM %33.4237.39 - PBDT2.873.93 -27 PBT2.753.82 -28 NP2.753.82 -28

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Easy Fincorp reports standalone net loss of Rs 0.01 crore in the September 2016 quarter
Nov 18,2016

Net loss of Easy Fincorp reported to Rs 0.01 crore in the quarter ended September 2016. There were no net profit/loss reported during the previous quarter ended September 2015. There were no Sales reported in the quarter ended September 2016 and during the previous quarter ended September 2015.

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Neogem India standalone net profit declines 86.21% in the September 2016 quarter
Nov 18,2016

Net profit of Neogem India declined 86.21% to Rs 0.04 crore in the quarter ended September 2016 as against Rs 0.29 crore during the previous quarter ended September 2015. Sales rose 1.88% to Rs 5.96 crore in the quarter ended September 2016 as against Rs 5.85 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales5.965.85 2 OPM %2.5211.28 - PBDT0.140.31 -55 PBT0.120.29 -59 NP0.040.29 -86

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Ashiana Housing standalone net profit rises 32.47% in the September 2016 quarter
Nov 18,2016

Net profit of Ashiana Housing rose 32.47% to Rs 21.99 crore in the quarter ended September 2016 as against Rs 16.60 crore during the previous quarter ended September 2015. Sales rose 52.23% to Rs 109.42 crore in the quarter ended September 2016 as against Rs 71.88 crore during the previous quarter ended September 2015.

ParticularsQuarter Endedn++Sep. 2016Sep. 2015% Var. Sales109.4271.88 52 OPM %26.0319.67 - PBDT35.0122.83 53 PBT33.0420.84 59 NP21.9916.60 32

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Board of NHPc approves raising funds of Rs 2250 crore by private placement of bonds
Nov 18,2016

The Board of Directors of NHPC at its meeting held on 18 November 2016 has approved the proposal for raising of Rs 2250 crore through issuance of V Series Corporate Bonds on private placement basis which is out of the Rs 4500 crore already approved by the shareholders in the 40th AGM held on 22 September 2016.

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Godawari Power & Ispat to announce September quarter and half year results
Nov 18,2016

Godawari Power & Ispat announced that a meeting of the Board of Directors of the Company is scheduled to be held on 25 November 2016, inter alia, to consider and approve the Un-audited Standalone Financial Results of the Company for the quarter and half year ended 30 September 2016.

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NTPC intimates of directives from Delhi Pollution Control Committee
Nov 18,2016

NTPC announced that Delhi Pollution Control Committee (DPCC) has further directed NTPC to keep all units of Badarpur Thermal Power Station (BTPS) closed till 31 January 2017.

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Canara Bank advances after revising deposit interest rates
Nov 18,2016

The announcement was made after market hours yesterday, 17 November 2016.

Meanwhile, the S&P BSE Sensex was down 51.55 points or 0.22% at 26,170.77.

On BSE, so far 1.93 lakh shares were traded in the counter as against average daily volume of 3.41 lakh shares in the past one quarter. The stock hit a high of Rs 329.80 and a low of Rs 323.75 so far during the day. The stock had hit a 52-week high of Rs 339.20 on 5 October 2016. The stock had hit a 52-week low of Rs 156.20 on 29 February 2016. The stock outperformed the market over the past one month till 17 November 2016, gaining 6.08% compared with 4.73% decline in the Sensex. The scrip also outperformed the market in past one quarter, rising 24.57% as against Sensexs 6.35% decline.

The large-cap PSU bank has equity capital of Rs 542.99 crore. Face value per share is Rs 10.

Canara Banks net profit fell 32.5% to Rs 356.91 crore on 2.3% decline in total income to Rs 12187.12 crore in Q2 September 2016 over Q2 September 2015.

The Government of India held 66.3% stake in Canara Bank as per the shareholding pattern as on 30 September 2016.

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Canara Bank advances after revising deposit interest rates
Nov 18,2016

The announcement was made after market hours yesterday, 17 November 2016.

Meanwhile, the S&P BSE Sensex was down 51.55 points or 0.22% at 26,170.77.

On BSE, so far 1.93 lakh shares were traded in the counter as against average daily volume of 3.41 lakh shares in the past one quarter. The stock hit a high of Rs 329.80 and a low of Rs 323.75 so far during the day. The stock had hit a 52-week high of Rs 339.20 on 5 October 2016. The stock had hit a 52-week low of Rs 156.20 on 29 February 2016. The stock outperformed the market over the past one month till 17 November 2016, gaining 6.08% compared with 4.73% decline in the Sensex. The scrip also outperformed the market in past one quarter, rising 24.57% as against Sensexs 6.35% decline.

The large-cap PSU bank has equity capital of Rs 542.99 crore. Face value per share is Rs 10.

Canara Banks net profit fell 32.5% to Rs 356.91 crore on 2.3% decline in total income to Rs 12187.12 crore in Q2 September 2016 over Q2 September 2015.

The Government of India held 66.3% stake in Canara Bank as per the shareholding pattern as on 30 September 2016.

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Edelweiss Financial gains after selling step down subsidiary
Nov 18,2016

The announcement was made after market hours yesterday, 17 November 2016.

Meanwhile, the S&P BSE Sensex was up 10.48 points or 0.04% at 26,238.10.

On BSE, so far 1.7 lakh shares were traded in the counter as against average daily volume of 3.84 lakh shares in the past one quarter. The stock hit a high of Rs 95.30 and a low of Rs 91 so far during the day. The stock had hit a 52-week high of Rs 129.10 on 20 October 2016. The stock had hit a 52-week low of Rs 44.40 on 12 February 2016. The stock underperformed the market over the past one month till 17 November 2016, sliding 21.49% compared with 4.73% decline in the Sensex. The scrip also underperformed the market in past one quarter, falling 9.63% as against Sensexs 6.35% decline.

The mid-cap company has equity capital of Rs 82.89 crore. Face value per share is Re 1.

Edelweiss Financial Services announced that Edel Commodities (ECL), a wholly owned subsidiary of the company entered into a share sale & purchase agreement with Inditrade Business Consultants (IBCL) yesterday, 17 November 2016 for sale of its wholly owned subsidiary namely Edel Commodities Trading (ECTL) for a deal size of minimum of Rs 13 crore receivable in cash and shares.

IBCL is a subsidiary of Inditrade Capital with focus on commodity procurement, financing and export of commodities. It operates in 7 states and is rapidly scaling up its operations in India and abroad. The transactions are not with the promoter/promoter group and also does not fall under the related party transactions.

Consequent to the transaction, ECTL, Edelweiss Commodities CHAD SARL and Edelweiss Commodities Nigeria, the subsidiaries of ECTL, ceases to be the subsidiaries of ECL and, in turn of the company.

On a consolidated basis, Edelweiss Financial Services net profit rose 30.4% to Rs 183.12 crore on 25.4% growth in net sales to Rs 1216.12 crore in Q2 September 2016 over Q2 September 2015.

Edelweiss Financial Services offers a range of products and services spanning retail finance, debt capital markets, commodities, financial markets, asset management and life insurance.

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GST Offers Industries an Opportunity to Reboot
Nov 18,2016

India Ratings and Research (Ind-Ra) believes that the four-rate tax slabs of 5%, 12%, 18% and 28% in GST would have a bearing on the profitability of most industries. Further, additional cess on some of the products, if absorbed by the respective businesses, would impact their margins.

GST would benefit industry as it would eliminate the cascading impact of taxes and allow unrestricted flow of input tax credit, and lower the compliance cost through simple tax regime as against the current multiple tax slabs and laws. In general, industries currently subject to taxes at a rate higher than the rates proposed in the GST Act would benefit and see margin expansions and improvements in their working capital, while those subject to a tax rate lower than the GST rates may face challenges on the margin front and increased working capital requirements.

Ind-Ra also believes that the service industries would see an increase in tax rates for most services under the new GST regime, which might have a bearing on the margins and the working capital cycle. Further, factors such as abatements, concessional duty structure, and area-wise exemptions, if not continued under GST, would have a significant bearing on the profitability of many industries.

Industries that would benefit from lower GST tax rates include cement and auto manufacturers, while those that could be impacted negatively due to GST include the cotton and downstream value chain and apparel segment of the textile industry and print media, which are currently either tax exempted or subject to concessional rates of taxes.

Abatement of tax, if not continued under the GST regime, would have a bearing on the profitability of logistics and real estate industries, while the impact on the infrastructure industry with high value contracts spanning across years would have to be assed contract-wise. Within the infrastructure industry, contracts in project phase can face viability issues if they are unable to pass on the increase in cost due to higher taxes or if the government incentives are discontinued under GST.

The central government would compensate for any revenue loss to the state governments during the first five years of the GST regime. The GST council has agreed to factor in the tax exemptions given to the industries in the eight north eastern states and the three hilly states while calculating revenue loss for determining compensation. The governments (both states and central) decision to continue with the area-based exemptions from central and state taxes can also impact the profitability of factories set up in the specified areas based on these exemptions.

The compelling rationale to switch from the current regime to the GST regime is to eliminate the cascading impact of taxes or simply put n++tax on taxn++ which leads to increase in the price of the end product. Other equally important areas which the GST would address are the multiplicity of taxes at central and state levels, leading to cumbersome and cost bearing compliance exercise for businesses, by bringing about uniformity in tax rates and structure.

Since, the input credit would be available only on taxes paid to the central or state government and after an automated reconciliation through an IT infrastructure, users of input supply would insist on tax invoices to claim the input credit, there by plugging the leakage due to non-payment of taxes or n++Kaccha Billsn++ as it is popularly known in India.

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