My Application Form Status

Check the status of your application form with Angel Broking.
Arq - The Hyper Intelligent Investment Engine By Angel Broking
Crompton Greaves slumps on reverse turnaround in Q2
Dec 08,2016

The announcement was made after market hours yesterday, 7 December 2016.

Meanwhile, the BSE Sensex was up 368.02 points, or 1.4%, to 26,604.89.

More than usual volumes were traded on the counter. On the BSE, 16.14 lakh shares were traded in the counter so far, compared with average daily volume of 5.74 lakh shares in the past one quarter. The stock had hit a high of Rs 63.50 and a low of Rs 60.05 so far during the day. The stock had hit a 52-week high of Rs 88.65 on 18 August 2016. The stock had hit a 52-week low of Rs 38.79 on 12 February 2016.

The stock had underperformed the market over the past one month till 7 December 2016, falling 23.25% compared with the Sensexs 4.45% fall. The scrip had also underperformed the market in past one quarter, declining 21.18% as against the Sensexs 9.3% fall.

The mid-cap company has equity capital of Rs 125.35 crore. Face value per share is Rs 2.

Crompton Greaves total income rose 6.78% to Rs 1545.19 crore in Q2 September 2016 over Q2 September 2015.

Separately, Crompton Greaves announced that certain conditions precedents to the share purchase agreement (SPA) executed earlier this December by the company along with its subsidiaries, CG International BV and CG International Holdings Singapore PTE with Pauwels Spaco a special purpose vehicle of First Reserve for sale of its power business in Europe, North America and Indonesia continue to remain unfulfilled and the fulfilment of it is beyond the reasonable control of the parties in the multi-geography/product line international business of the company.

After review of the situation, the parties to the sale, have decided not to further pursue the completion and the SPA consequently stands terminated. The company, however, will continue to explore alternative geography/product wise options for sale of its international power business, while continuing the strategic initiatives for improving overall operational efficiency of the international power business.

The company continues to progress with sale of the B2B automation business in Spain, UK, Ireland, France and India at an enterprise value of Euro 120 million as communicated on 7 November 2016 and towards this has made successful progress towards completion. This will ensure reduction in debt of the company and improve the companys balance sheet, it added.

Crompton Greaves is engaged in the business of power and industrial systems.

Powered by Capital Market - Live News

Gujarat Ambuja Exports jumps on buyback proposal
Dec 08,2016

The announcement was made after market hours yesterday, 7 December 2016.

Meanwhile, the S&P BSE Sensex was up 379.10 points or 1.44% at 26,615.97.

On the BSE, 39,000 shares were traded on the counter so far as against the average daily volumes of 59,617 shares in the past one quarter. The stock had hit a high of Rs 92.65 and a low of Rs 87 so far during the day.

The stock had hit a 52-week high of Rs 103 on 10 November 2016 and a 52-week low of Rs 35.50 on 26 February 2016. It had underperformed the market over the past one month till 7 December 2016, sliding 10.02% compared with the Sensexs 4.45% fall. The scrip had, however, outperformed the market in the past one quarter, declining 0.93% as against the Sensexs 9.3% fall.

The small-cap company has equity capital of Rs 27.67 crore. Face value per share is Rs 2.

Gujarat Ambuja Exports net profit surged 125.3% to Rs 29.83 crore on 8.9% decline in net sales to Rs 629.04 crore in Q2 September 2016 over Q2 September 2015.

Gujarat Ambuja Exports is principally involved in agro-processing and has focus on exports, competing in the global market.

Powered by Capital Market - Live News

Tata Steel hardens after its UK unit reaches agreement with trade unions
Dec 08,2016

The announcement was made after market hours yesterday, 7 December 2016.

Meanwhile, the S&P BSE Sensex was up 308.26 points or 1.17% at 26,544.96.

On the BSE, 1.8 lakh shares were traded in the counter so far as against average daily volume of 8.85 lakh shares in the past one quarter. The stock had hit a high of Rs 425.20 and a low of Rs 416.10 so far during the day. The stock had hit a 52-week high of Rs 440.90 on 11 November 2016. The stock had hit a 52-week low of Rs 211.30 on 12 February 2016.

The stock had outperformed the market over the past one month till 7 December 2016, gaining 0.24% compared with the Sensexs 4.45% fall. The scrip had also outperformed the market in past one quarter, advancing 5.78% as against the Sensexs 9.3% fall.

The large-cap company has equity capital of Rs 971.22 crore. Face value per share is Rs 10.

Tata Steel UK yesterday, 7 December 2016, reached an agreement with trade unions on a number of proposals that would structurally reduce risks and help secure a more sustainable future for its UK business.

The company will next week start consultation with its employees on a proposal to close the British Steel pension scheme to future accrual. Employees would be offered a competitive defined contribution scheme.

The proposal on pensions and other changes in the employment terms are part of the ongoing transformation plan that the business is undertaking. As part of agreement all parties will work towards making Tata Steel UK a sustainable business.

The company and trade unions have also agreed on the principle that subject to the structural de-risking and de-linking of the British Steel Pension Scheme fund from the business, Tata Steel UK will continue the existing blast furnace configuration in Port Talbot until 2021.

Further, based on achieving the necessary financial performance and cash flows as per the transformation plan of the UK business, the company will continue to invest across the UK sites to enhance the competitive position of Tata Steel UK in the European steel industry.

The company has also offered an employment pact until 2021 which supports employees through future changes by investing in their skills to support further plant upgrades, automation and other digital initiatives.

Tata Steel is the UKs largest steel manufacturer. It supplies almost 50% of UK carmakers steel requirements, including body panels and chassis, and a range of advanced steels for the UK construction industry which help to reduce buildings energy use.

Separately, Tata Steel announced that its subsidiary, TM International Logistics (TMILL) has divested entire stake in its wholly owned step down subsidiary TM Harbour Services (TMHSPL) to Adani Ports and Special Economic Zone (APSEZ) for a total consideration of Rs 106 crore in an all cash deal.

TKM Global GmbH, Germany and International Shipping and Logistics FZE, Dubai, subsidiaries of TMILL, hold 74.18% and 25.82% equity shares in TMHSPL respectively. TMHSPL with an annual turnover of about Rs 29 crore is engaged in the business of providing tug services at Dhamra Port and owns 3 tug boats.

Incorporated in 2002, TMILL is a joint venture company of Tata Steel, NYK Holding (Europe) BV and IQ Martrade. Headquartered in Kolkata, the company currently operates from its offices across various cities in India and overseas offices in Dubai, Germany, UK and China. TMILL offers logistics solutions. TMILL recorded an annual revenue of Rs 563 crore in FY 2016.

Shares of APSEZ rose 2.09% to Rs 282.90.

On a consolidated basis, Tata Steel reported net loss of Rs 49.38 crore in Q2 September 2016, compared with net profit of Rs 5609.43 crore in Q2 September 2015. Net sales rose 0.1% to Rs 26291.86 crore in Q2 September 2016 over Q2 September 2015.

Tata Steel is Europes second largest steel producer, with steelmaking in the UK and Netherlands, and manufacturing plants across Europe. The combined Tata Steel group is one of the worlds largest steel producers.

Powered by Capital Market - Live News

Indusind Bank advances after fund raising plans
Dec 08,2016

The announcement was made after market hours yesterday, 7 December 2016.

Meanwhile, the S&P BSE Sensex was up 243.30 points or 0.93% at 26,480.17.

On the BSE, 1,426 shares were traded on the counter so far as against the average daily volumes of 62,699 shares in the past one quarter. The stock had hit a high of Rs 1,092.80 and a low of Rs 1,085 so far during the day.

Indusind Bank announced that its board of directors yesterday, 7 December 2016, passed issuance of senior, unsecured, redeemable, non-convertible, long term bonds in the nature of debentures of face value of Rs 10 lakh each aggregating Rs 1500 crore on private placement basis.

IndusInd Banks net profit rose 25.8% to Rs 704.26 crore on 24% growth in total income to Rs 4439.72 crore in Q2 September 2016 over Q2 September 2015.

IndusInd Bank is a leading private sector bank in India.

Powered by Capital Market - Live News

Auto stocks mixed after RBI keeps policy rates unchanged
Dec 07,2016

The monetary policy was announced by the RBI at 14:30 IST today, 7 December 2016.

Meanwhile, the S&P BSE Sensex was down 101.41 points or 0.38% at 26,291.35.

Ashok Leyland (down 1.73%), Maruti Suzuki India (down 0.86%), and Bajaj Auto (down 0.92%) declined. Mahindra & Mahindra (M&M) (up 0.81%), Eicher Motors (up 2.91%), Hero MotoCorp (up 0.51%), Tata Motors (up 0.43%) and TVS Motor Company (up 0.18%) gained.

Purchases of automobiles, including that of cars, utility vehicles and commercial vehicles are substantially driven by financing.

On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, 7 December 2016, the monetary policy committee (MPC) of the Reserve Bank of India (RBI) decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.25%.

Consequently, the reverse repo rate under the LAF remains unchanged at 5.75%, and the marginal standing facility (MSF) rate and the bank rate at 6.75%. The decision of the MPC is consistent with an accommodative stance of monetary policy in consonance with the objective of achieving consumer price index (CPI) inflation at 5% by Q4 March 2017 and the medium-term target of 4% within a band of +/- 2%, while supporting growth.

In the view of the committee, this bi-monthly review is set against the backdrop of heightened uncertainty. Globally, the imminent tightening of monetary policy in the US is triggering bouts of high volatility in financial markets, with the possibility of large spillovers that could have macroeconomic implications for EMEs.

In India, while supply disruptions in the backwash of currency replacement may drag down growth this year, it is important to analyse more information and experience before judging their full effects and their persistence - short-term developments that influence the outlook disproportionately warrant caution with respect to setting the monetary policy stance. If the impact is transient as widely expected, growth should rebound strongly.

Turning to inflation, food prices other than vegetables are exhibiting sustained firmness and a pick-up in momentum. Another disconcerting feature of recent developments is the downward inflexibility in inflation excluding food and fuel which could set a resistance level for future downward movements in the headline. Moreover, volatility in crude prices and the surge in financial market turbulence could put the inflation target for Q4 of 2016-17 at some risk.

Given these indicators of underlying inflation, it is appropriate to look through the transitory but unclear effects of the withdrawal of SBNs while setting the monetary policy stance. On balance, therefore, it is prudent to wait and watch how these factors play out and impinge upon the outlook. Accordingly, the policy repo rate has been kept on hold in this review, while retaining an accommodative policy stance, RBI said

Powered by Capital Market - Live News

Bank stocks mixed as RBI keeps key policy rate steady
Dec 07,2016

Among public sector banks, Bank of Baroda (down 1.69%), Punjab National Bank (down 1.23%), Andhra Bank (down 1.16%), Bank of India (down 1.32%), State Bank of India (down 1.1%) and IDBI Bank (down 0.66%) edged lower. Corporation Bank (up 0.33%), Dena Bank (up 0.29%), Indian Bank (up 0.12%) and Vijaya Bank (up 0.34%) edged higher.

Among private sector banks, Axis Bank (down 1.3%), HDFC Bank (down 1.15%), IndusInd Bank (down 1.01%), Yes Bank (down 0.29%), Kotak Mahindra Bank (down 0.2%) edged lower. RBL Bank (up 0.19%) and Federal Bank (up 0.14%) edged higher.

Meanwhile, the S&P BSE Sensex was down 156.91 points or 0.59% at 26,235.85.

ICICI Bank was down 1.42%. The bank announced after market hours yesterday, 6 December 2016, that the committee of executive directors of the bank is scheduled to have a meeting on 9 December 2016, to consider fund raising in single/multiple tranches in any currency through public/private placement by way of issuances of debt instruments etc. for the remaining period of the financial year ending 31 March 2017 (FY 2017).

On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, 7 December 2016, the Monetary Policy Committee (MPC) decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.25%. Consequently, the reverse repo rate under the LAF remains unchanged at 5.75%, and the marginal standing facility (MSF) rate and the bank rate at 6.75%.

The decision of the MPC is consistent with an accommodative stance of monetary policy in consonance with the objective of achieving consumer price index (CPI) inflation at 5% by Q4 March 2017 and the medium-term target of 4% within a band of plus or minus 2%, while supporting growth.

Powered by Capital Market - Live News

Sagar Cements firms up after raising funds
Dec 07,2016

The announcement was made during market hours today, 7 December 2016.

Meanwhile, the S&P BSE Sensex was up 109.71 points or 0.43% at 26,506.88.

More than usual volumes were witnessed on the counter. On the BSE, 16,309 shares were traded on the counter so far as against the average daily volumes of 5,212 shares in the past one quarter. The stock had hit a high of Rs 705.45 and a low of Rs 665.45 so far during the day. The stock had hit a record high of Rs 835 on 14 October 2016. The stock had hit a 52-week low of Rs 350 on 18 February 2016.

The stock had outperformed the market over the past one month till 6 December 2016, shedding 2.6% compared with the Sensexs 3.23% fall. The scrip had also outperformed the market in past one quarter, gaining 6.79% as against the Sensexs 8.92% fall.

The small-cap company has equity capital of Rs 17.39 crore. Face value per share is Rs 10.

Sagar Cements announced that the securities allotment committee of the board of directors at a meeting held on today, 7 December 2016, allotted, 6.11 lakh equity shares of Rs 10 each at an issue price of Rs 800 per equity share aggregating Rs 48.88 crore on a preferential basis in accordance with the approval given by the shareholders at a meeting held on 23 November 2016.

Net profit of Sagar Cements declined 71.5% to Rs 2.50 crore on 29% decline in net sales to Rs 119.20 crore in Q2 September 2016 over Q2 September 2015.

Sagar Cements is engaged in manufacturing of cement.

Powered by Capital Market - Live News

Volumes jump at 3M India counter
Dec 07,2016

3M India clocked volume of 83,000 shares by 14:22 IST on BSE, a 897.45-times surge over two-week average daily volume of 92 shares. The stock fell 0.31% at Rs 11,141.

Shriram Transport Finance Company notched up volume of 10.66 lakh shares, a 21.85-fold surge over two-week average daily volume of 49,000 shares. The stock was down 2.36% at Rs 899.50.

Federal Bank saw volume of 91.34 lakh shares, a 14.96-fold surge over two-week average daily volume of 6.10 lakh shares. The stock rose 3.03% at Rs 71.45.

Inox Wind clocked volume of 2.64 lakh shares, a 10.06-fold surge over two-week average daily volume of 26,000 shares. The stock gained 2.44% at Rs 203.25.

MMTC saw volume of 26.12 lakh shares, a 7.09-fold rise over two-week average daily volume of 3.69 lakh shares. The stock surged 11.76% to Rs 55.60.

Powered by Capital Market - Live News

MMTC leads gainers in A group
Dec 07,2016

MMTC surged 11.26% to Rs 55.35 at 13:55 IST. The stock topped the gainers in the BSEs A group. On the BSE, 24.76 lakh shares were traded on the counter so far as against the average daily volumes of 3.69 shares in the past two weeks.

National Aluminium Company jumped 9.15% at Rs 67.40. The stock was second biggest gainer in A group. On the BSE, 28.51 lakh shares were traded on the counter so far as against the average daily volumes of 5.76 lakh shares in the past two weeks.

RattanIndia Power rose 4.7% to Rs 7.35. The stock was third biggest gainer in A group. On the BSE, 8.19 lakh shares were traded on the counter so far as against the average daily volumes of 4.37 lakh shares in the past two weeks.

Hindustan Copper gained 4.65% at Rs 64.20. The stock was fourth biggest gainer in A group. On the BSE, 8.55 lakh shares were traded on the counter so far as against the average daily volumes of 1.89 lakh shares in the past two weeks.

Eicher Motors gained 3.86% to Rs 23,329.30. The stock was fifth biggest gainer in A group. On the BSE, 4,117 shares were traded on the counter so far as against the average daily volumes of 6,986 shares in the past two weeks.

Powered by Capital Market - Live News

Ashoka Buildcon gains after receiving letters of intent for projects in Bihar
Dec 07,2016

The announcement was made during market hours today, 7 December 2016.

Meanwhile, the S&P BSE Sensex was up 40.15 points, or 0.15%, to 26,432.91.

More than usual volumes were witnessed on the counter. On BSE, so far 99,025 shares were traded in the counter, compared with an average volume of 47,068 shares in the past one quarter. The stock hit a high of Rs 155 and a low of Rs 146 so far during the day. The stock hit a record high of Rs 211.90 on 23 December 2015. The stock hit a 52-week low of Rs 111 on 7 April 2016.

The stock had underperformed the market over the past one month till 6 December 2016, falling 7.07% compared with the Sensexs 3.23% fall. The scrip had also underperformed the market in past one quarter, declining 10.64% as against the Sensexs 8.92% fall.

The small-cap company has an equity capital of Rs 93.57 crore. Face value per share is Rs 5.

Ashoka Buildcon said that the total cost of these power distribution projects is Rs 949.88 crore.

Ashoka Buildcons net profit dropped 32.7% to Rs 30.82 crore on 1.9% fall in net sales to Rs 465.97 crore in Q1 June 2016 over Q1 June 2015.

Ashoka Buildcon is a leading highway concessionaire and engineering, procurement and construction (EPC) company.

Powered by Capital Market - Live News

Future Consumer, LT Foods nudge higher on rice distribution pact
Dec 07,2016

The announcement was made after market hours yesterday, 6 December 2016.

Future Consumer (up 0.48% at Rs 20.95) and LT Foods (up 5.17% at Rs 280.80) edged higher.

Meanwhile, the S&P BSE Sensex was up 47.96 points or 0.18% at 26,440.72.

Future Consumer, LT Foods and Genoa Rice Mills (Genoa) entered into a joint venture (JV) agreement dated 6 December 2016, for undertaking the business of manufacturing, marketing, sales, sourcing and distribution of Sona Masoori/regional South Indian rice.

Future Consumer and LT Foods each shall hold 50% of the paid-up share capital of Genoa. Future Consumer and LT Foods inter alia shall have the right to nominate two directors each, on the board of Genoa and they shall also have the right to vote on reserved matters as provided under the JV agreement.

LT Foods and Genoa are not related to any of the promoter/promoter entities of Future Consumer. The JV agreement executed between Future Consumer, LT Foods and Genoa does not fall within the ambit of related party transactions.

Future Consumer is Indias first sourcing-to-supermarket food company by Future Group. On a consolidated basis, the company reported net loss of Rs 16.17 crore in Q2 September 2016, compared with net loss of Rs 28.66 crore in Q2 September 2015. Net sales rose 30.6% to Rs 559.83 crore in Q2 September 2016 over Q2 September 2015.

LT Foods has a diversified product portfolio of branded basmati rice, value-added staples and organic food. The companys consolidated net profit rose 9.4% to Rs 25.01 crore on 20.4% growth in net sales to Rs 829.24 crore in Q2 September 2016 over Q2 September 2015.

Powered by Capital Market - Live News

Adani Enterprises gains after incorporating subsidiary for cement business
Dec 07,2016

The announcement was made after market hours yesterday, 6 December 2016.

Meanwhile, the BSE Sensex was up 37.24 points, or 0.14%, to 26,429.92.

On the BSE, 1.28 lakh shares were traded in the counter so far, compared with average daily volume of 4.06 lakh shares in the past one quarter. The stock had hit a high of Rs 71.10 and a low of Rs 70.05 so far during the day. The stock had hit a 52-week high of Rs 92 on 4 January 2016. The stock had hit a 52-week low of Rs 58.35 on 9 November 2016.

The stock had outperformed the market over the past one month till 6 December 2016, rising 11.77% compared with the Sensexs 3.23% fall. The scrip had also outperformed the market in past one quarter, declining 3.19% as against the Sensexs 8.92% fall.

The mid-cap company has equity capital of Rs 109.98 crore. Face value per share is Re 1.

Adani Enterprises said that Adani Cementation (ACL) will carry on the cement business and is yet to commence its business operations. The company is incorporated in India.

Adani Enterprises consolidated net profit fell 78.9% to Rs 63.09 crore on 15.9% decline in net sales to Rs 7591.28 crore in Q2 September 2016 over Q2 September 2015.

Adani Enterprises is the flagship entity of the Adani group. Adani Enterprises started as a trading firm dealing in myriad commodities. Over a period of time, coal became its main stay and after it emerged as Indias leading coal importer, it made forays into multiple sectors as forward and backward integration.

Powered by Capital Market - Live News

GVK Power gains as promoter raises stake
Dec 07,2016

Meanwhile, the S&P BSE Sensex was up 39.93 points or 0.15% at 26,432.69.

On the BSE, 93,000 shares were traded on the counter so far as against the average daily volumes of 17.67 lakh shares in the past one quarter. The stock had hit a high of Rs 5.82 and a low of Rs 5.62 so far during the day.

The stock had hit a 52-week high of Rs 9.44 on 12 January 2016 on and a record low of Rs 4.13 on 6 June 2016. It had underperformed the market over the past one month till 6 December 2016, sliding 13.9% compared with the Sensexs 3.23% fall. The scrip had also underperformed the market in the past one quarter, declining 12.17% as against the Sensexs 8.92% fall.

The small-cap company has equity capital of Rs 157.92 crore. Face value per share is Rs 1.

G V Krishna Reddy offloaded 2.37 crore shares of GVK Power & Infrastructure (GVK Power) at Rs 5.70 per share in a bulk deal on the NSE on 6 December 2016. G V Sanjay Reddy sold 4.26 crore shares at Rs 5.70 a piece. Krishnaram Bhupal liquidated 2.84 crore shares at Rs 5.70 per share. Vertex Projects LLP bought all 9.48 crore shares in these deals.

G V Krishna Reddy, G V Sanjay Reddy, Krishnaram Bhupal and Vertex Projects LLP owned 4.12%, 7.42%, 4.95% and 37.76% stake respectively in GVK Power end September 2016.

GVK Power & Infrastructure reported net loss of Rs 13.41 crore in Q2 September 2016, compared with net loss of Rs 8.09 crore in Q2 September 2015. Net sales rose 3.2% to Rs 7.13 crore in Q2 September 2016 over Q2 September 2015.

GVK Power & Infrastructure is a leading Indian conglomerate with presence across energy, resources, airports, transportation, hospitality and life sciences sectors.

Powered by Capital Market - Live News

Suven Life Sciences gets healthier after securing one product patent in India
Dec 07,2016

The announcement was made during market hours today, 7 December 2016.

Meanwhile, the BSE Sensex was up 50.21 points, or 0.19%, to 26,444.92.

On the BSE, 20,974 shares were traded in the counter so far, compared with average daily volume of 83,973 shares in the past one quarter. The stock had hit a high of Rs 188.70 and a low of Rs 183.45 so far during the day. The stock had hit a 52-week high of Rs 275.20 on 29 December 2015. The stock had hit a 52-week low of Rs 144.35 on 19 February 2016.

The stock had outperformed the market over the past one month till 6 December 2016, rising 5.78% compared with the Sensexs 3.23% fall. The scrip had also outperformed the market in past one quarter, falling 2.58% as against the Sensexs 8.92% fall.

The small-cap company has equity capital of Rs 12.73 crore. Face value per share is Re 1.

Suven Life Sciences said that the patent is corresponding to the new chemical entities (NCEs) for the treatment of disorders associated with neurodegenerative diseases and the patent is valid through 2024.

Suven has a total of twenty granted patents from India, with this new patent. These granted patents are exclusive intellectual property of Suven and are achieved through the internal discovery research efforts. Products out of these inventions may be out-licensed at various phases of clinical development like at phase-I or phase-II.

Suven Life Sciences net profit rose 5.2% to Rs 26.56 crore on 1.2% decline in net sales to Rs 115.55 crore in Q2 September 2016 over Q2 September 2015.

Suven Life Sciences is a biopharmaceutical company specializing in drug discovery and developmental activities in central nervous system disorders and contract research and manufacturing services (CRAMS).

Powered by Capital Market - Live News

Ess Dee Aluminium surges on revival hopes
Dec 07,2016

The announcement was made after market hours yesterday, 6 December 2016.

Meanwhile, the S&P BSE Sensex was up 27.02 points or 0.1% at 26,419.78.

On the BSE, 5,403 shares were traded on the counter so far as against the average daily volumes of 17,199 shares in the past one quarter. The stock had opened with an upward gap of 5% and remained locked at that level at Rs 44.35 so far during the day.

The stock had hit a 52-week high of Rs 311 on 7 December 2015 and a record low of Rs 39.05 on 24 November 2016. It had underperformed the market over the past one month till 6 December 2016, sliding 19.29% compared with the Sensexs 3.23% fall. The scrip had also underperformed the market in the past one quarter, declining 23.74% as against the Sensexs 8.92% fall.

The small-cap company has equity capital of Rs 32.05 crore. Face value per share is Rs 10.

Ess Dee Aluminium is suffering from severe financial stress due to liquidity constraints which in turn have resulted in to the companys manufacturing plant being virtually non-operational with negligible production. The company has been looking at various options for revival and has been in active discussion with existing and prospective lenders.

In this context, he funds managed/advised by SSG Capital Management and their associates (the prospective investor) have agreed to participate in the revival of the company. The agreement is subject to the consent from the companys bankers/lenders to facilitate a re-working of companys capital structure to long term sustainable levels. The company is hopeful of recommencing the production early in the new calendar year.

Ess Dee Aluminum reported net loss of Rs 58.76 crore in Q1 June 2016, higher than net loss of Rs 13.11 crore in Q1 June 2015. Net sales declined 99.8% to Rs 0.25 crore in Q1 June 2016 over Q1 June 2015.

Ess Dee Aluminum manufactures aluminium foils for packaging purpose.

Powered by Capital Market - Live News