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KDDL in demand after announcing strategic partnerships
Apr 07,2017

The announcement was made after market hours yesterday, 6 April 2017.

Meanwhile, the S&P BSE Sensex was down 68.03 points or 0.23% at 29,860.12. Meanwhile, the S&P BSE Small-Cap index was up 71.95 points or 0.49% at 14,822.92.

On the BSE, 5,008 shares were traded on the counter so far as against the average daily volumes of 4,493 shares in the past one quarter. The stock had hit a high of Rs 218.85 and a low of Rs 211.10 so far during the day. The stock had 52-week high of Rs 294.50 on 10 August 2016 and a 52-week low of Rs 162 on 20 May 2016.

The stock had outperformed the market over the past one month till 6 April 2017, advancing 9.5% compared with the Sensexs 3.55% rise. The scrip had, however, underperformed the market over the past one quarter, rising 3.64% as against the Sensexs 11.84% advance.

The small-cap company has equity capital of Rs 10.84 crore. Face value per share is Rs 10.

KDDL said that the companys subsidiary Ethos has entered into a strategic partnership with Nomos Glashutte SA for exclusively retailing Nomos Glashutte watches in India. In addition to this, Ethos has also entered into a strategic partnership with Oris SA for exclusively retailing Oris watches in India. Oris SA will end its association with existing retailers and will be exclusively available only at Ethos stores.

On a consolidated basis, KDDLs net profit rose 47.16% to Rs 2.59 crore on 3.62% fall in total income to Rs 126.74 crore in Q3 December 2016 over Q3 December 2015.

KDDL is a diverse company focusing on luxury retail watches and precision engineering. It has established Indias largest retail chain for premium and luxury watches- Ethos and SUMMIT. It is a global supplier of high quality watch components. Its precision stamping division offers high precision pressed components and tooling solution for a wide range of engineering applications.

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Ashoka Buildcon hits record high
Apr 07,2017

The announcement was made during market hours today, 7 April 2017.

Meanwhile, the S&P Sensex was down 71.37 points, or 0.24% at 29,855.97. The S&P BSE Mid-cap index was up 40.98 points, or 0.29% at 14,317.52.

On the BSE, 1.25 lakh shares were traded on the counter so far as against the average the daily volumes of 6.09 lakh shares in the past one quarter. The stock had hit a high of Rs 231.55 so far during the day, which is also its record high. The stock hit a low of Rs 209 so far during the day.

The stock had hit a 52-week low of Rs 111 on 7 April 2016. The stock had outperformed the market over the past one month till 6 April 2017, advancing 17.55% compared with the Sensexs 3.03% rise. The scrip had also outperformed the market over the past one quarter advancing 36.22% as against the Sensexs 11.84% rise.

The mid-cap company has equity capital of Rs 93.57 crore. Face Value per share is Rs 5.

Ashoka Buildcon said that it has received letter of award (LoA) from Mumbai International Airport (MIAL) and the LoA has been accepted by the company. It will be developing the land parcels located at Sahar (GVK SKY City Project) located near existing Chhatrapati Shivaji International Airport, Mumbai for development of commercial / office space of potential built up area of 1.08 lakh square meters for an aggregate lease period of 49 years.

The company will make payment of refundable security deposit amounting to Rs 329.35 crore and annual lease rental of Rs 15.24 crore to MIAL with an escalation of 15% every 3 years.

Ashoka Buildcons net profit rose 114.7% to Rs 42.70 crore on 17.2% increase in net sales to Rs 517.74 crore in Q3 December 2016 over Q3 December 2015.

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

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Tata Motors nudges higher after JLR posts record retail sales in FY 2017
Apr 07,2017

The announcement was made during market hours today, 7 April 2017.

Meanwhile, the BSE Sensex was down 54.66 points, or 0.17%, to 29,875.21.

On the BSE, 1.36 lakh shares were traded in the counter so far, compared with average daily volumes of 5.66 lakh shares in the past one quarter. The stock had hit a high of Rs 474.50 and a low of Rs 466.55 so far during the day. The stock had hit a 52-week high of Rs 598.60 on 7 September 2016. The stock had hit a 52-week low of Rs 370.75 on 7 April 2016.

The stock had underperformed the market over the past one month till 6 April 2017, gaining 0.5% compared with Sensexs 3.03% gains. The scrip had also underperformed the market in past one quarter, falling 4.97% as against Sensexs 11.84% rise.

The large-cap company has equity capital of Rs 577.47 crore. Face value per share is Rs 2.

Jaguar Land Rover, the UKs largest manufacturer of premium luxury vehicles and Tata Motors wholly owned subsidiary reported record retail sales of 6.04 lakh vehicles (including sales from its China joint venture), with sales rising 16% in the financial year ended 31 March 2017 (FY 2017) over FY 2016.

The sales exceeded 6 lakh units for the first time in the companys history. Retail sales of Jaguar Land Rover rose 13% to 1.79 lakh vehicles in Q4 March 2017 over Q4 March 2016. Sales rose 21% to 90,838 units in March 2017 over March 2016.

Retail sales for the financial year were up year-on-year in China (32%), North America (24%), the UK (16%) and Europe (13%), whilst sales in overseas markets were down 6%.

Retail sales for Jaguar were a record 1.72 lakh vehicles in the FY 2017, up 83% compared to FY 2016, primarily driven by the successful introduction of the F-PACE and solid sales of the XE and XF (including the long wheel base XFL from the China joint venture). Jaguar retail sales rose 81% to 53,972 vehicles in Q4 March 2017 over Q4 March 2016. Sales rose 83% to 27,820 units in March 2017 over March 2016.

Land Rover retailed 4.31 lakh vehicles in FY 2017, up 1% compared to last year, as continuing strong sales of the Discovery Sport, Evoque and Range Rover Sport were offset by the run-out of Defender and Discovery. Sales of the all-new Discovery began in February with 4,862 units retailed since its launch.

Retail sales for Land Rover fell 2.7% to 1.25 lakh units in Q4 March 2017 over Q4 March 2016. Retail sales rose 4.8% to 63,018 vehicles in March 2017 over March 2016. Last month Land Rover launched the Velar, a new addition to the Range Rover family, positioned between Evoque and Range Rover Sport, which will go on sale later this year, Tata Motors added.

Tata Motors consolidated net profit fell 96.2% to Rs 111.57 crore on 2.2% decline in net sales to Rs 66855.18 crore in Q3 December 2016 over Q3 December 2015.

Tata Motors is a market leader in commercial vehicles in India. The companys British luxury unit Jaguar Land Rover (JLR) sells premium luxury cars.

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Gammon Infrastructure jumps after acquiring 24% stake in ICTPL
Apr 07,2017

The announcement was made after market hours yesterday, 6 April 2017.

Meanwhile, the S&P BSE Sensex was down 86.95 points or 0.29% at 29,840.39. The S&P BSE Small-Cap index was up 33.40 points or 0.2% at 14,784.37.

On the BSE, 3.35 lakh shares were traded in the counter so far as against average daily volume of 4.99 lakh shares in the past one quarter. The stock had hit a high of Rs 4.70 and a low of Rs 4.35 so far during the day. The stock had hit a 52-week high of Rs 6.39 on 7 July 2015. The stock had hit a record low of Rs 3.41 on 1 February 2017.

The stock had outperformed the market over the past one month till 6 April 2017, gaining 5.39% compared with Sensexs 3.03% gains. The scrip had also outperformed the market in past one quarter, advancing 15.28% as against Sensexs 11.84% rise.

The small-cap company has equity capital of Rs 188.37 crore. Face value per share is Rs 2.

Gammon Infrastructure Projects said that the company through amendment agreement, acquired from Noatum Ports, S. L., Spain, 24.37 lakh equity shares of Rs 10 each of Indira Container Terminal (ICTPL), being 24% of total paid up capital of ICTPL for an aggregate consideration of Rs 15 crore.

Upon acquisition, ICTPL has become subsidiary of the company with increased shareholding from 50% to 74% in the paid up equity share capital of ICTPL. Turnover of ICTPL was Rs 18.37 crore for the financial year ended 31 March 2017.

ICTPL was incorporated on 13 September 2007 for the construction of offshore berths and development of offshore container terminal (OCT) on build, operate & transfer basis in Mumbai Harbour and the operation of Ballard Pier Station Container Terminal.

Gammon Infrastructure Projects net profit fell 86.6% to Rs 1.74 crore on 66% decline in net sales to Rs 37.56 crore in Q3 December 2016 over Q3 December 2015.

Gammon Infrastructure Projects undertakes development of infrastructure projects on public private partnership (PPP) basis.

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RBL Bank scales record high
Apr 07,2017

The announcement was made after market hours yesterday, 6 April 2017.

Meanwhile, the S&P BSE Sensex was down 82.79 points or 0.28% at 29,844.55

On BSE, so far 1.38 lakh shares were traded in the counter as against average daily volume of 3.13 lakh shares in the past one quarter. The stock hit a high of Rs 556.50 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 541.10 so far during the day. The stock had hit a record low of Rs 273.70 on 31 August 2016.

The large-cap bank has equity capital of Rs 375.20 crore. Face value per share is Rs 10.

RBL Bank yesterday, 6 April 2017 announced the opening of its IFSC Banking Unit (IBU) at the Gujarat International Finance Tec-City (GIFT City). With this, RBL Bank has commenced offshore banking operations from India. GIFT City is Indias first global financial hub.

RBL Bank received an in-principle approval from RBI for setting up IBU on 30 November 2016. The IBU will give RBL Bank access to international financial markets and the bank will offer a range of products and services to its clients. RBL Bank will raise foreign currency funds to meet its requirements in IBU and fund offshore subsidiaries of Indian companies, other foreign firms, and eligible Indian companies (via ECBs, Bonds etc.).

RBI has permitted Indian public and private sector banks to open an IBU at GIFT City to undertake foreign exchange transactions with resident and non-resident entities other than individuals. Nonresident firms can raise resources as well as deploy funds in IBU. All IBU transactions are in major global currencies other than Indian rupee.

RBL Banks MD & CEO, Vishwavir Ahuja said that the setting up of IFSC Banking Unit (IBU) at GIFT City will give the bank strategic access to offer a range of financial services including foreign currency funding to resident and overseas entities. It will also help the banks clients to tap into potential growth opportunities globally, Vishwavir Ahuja said.

RBL Banks net profit rose 58.78% to Rs 128.69 crore on 38.98% growth in net total income to Rs 1143.48 crore in Q3 December 2016 over Q3 December 2015.

RBL Bank is a private sector bank. It currently services over two million customers through a network of 215 branches and 374 ATMs spread across 16 Indian states and Union Territories. The bank offers specialized services under six business verticals namely: Corporate & Institutional Banking, Commercial Banking, Branch & Business Banking, Agribusiness Banking, Development Banking and Financial Inclusion, Treasury and Financial Markets Operations.

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Dynamatic Technologies spurts after signing agreement
Apr 07,2017

The announcement was made after market hours yesterday, 6 April 2017.

Meanwhile, the S&P BSE Sensex was down 112.71 points or 0.38% at 29,814.63. Meanwhile, the S&P BSE Mid-Cap index was down 8.52 points or 0.06% at 14,268.02.

On BSE, so far 67 shares were traded in the counter as against average daily volume of 301 shares in the past one quarter. The stock hit a high of Rs 2,988.80 and a low of Rs 2,950 so far during the day. The stock had hit a 52-week high of Rs 3,650 on 24 October 2016. The stock had hit a 52-week low of Rs 1,696 on 6 April 2016.

The small-cap company has equity capital of Rs 6.34 crore. Face value per share is Rs 10.

Dynamatic Technologies said that the company had yesterday, 6 April 2017, signed a cooperation agreement with Magal Security Systems (Magal-S3), an Israeli company. This new cooperation aims to answer the Indian increasing market demand for high-end security products and solutions for critical infrastructure, among other, to provide combined integrated border management solutions (CIBMS) aimed to address the challenges in securing our borders.

Magal S3 has unique experience in perimeter security technologies and complex technological security projects, among other, defending Israels borders, whilst Dynamatic Technologies has been a partner of Indian Defence and Security establishment for over 3 decades.

On consolidated basis, Dynamatic Technologies net profit fell 52.03% to Rs 1.18 crore on 3.59% decline in net sales to Rs 346.87 crore in Q3 December 2016 over Q3 December 2015.

Dynamatic Technologies designs and builds high precision systems and sub-systems for Aerospace, Automotive, Hydraulics, and Homeland Security & Defense.

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The Nifty April 2017 futures trade at small premium
Apr 06,2017

The April 2017 futures on the Nifty 50 index traded at 9,263.70, at a small premium of 1.75 points compared with the Niftys spot closing of 9,261.95 in the cash market. Turnover on the National Stock Exchanges futures & options (F&O) segment jumped to Rs 6.4 lakh crore from Rs 3.56 lakh crore registered during previous trading session.

In the cash market, the Nifty 50 index fell 3.20 points or 0.03% to settle at 9,261.95, its lowest closing level since 3 April 2017.

Reliance Industries (RIL), State Bank of India (SBI), Tata Steel, Bharat Financial Inclusion and DLF were the top traded individual stock futures contracts in F&O segment of NSE.

RIL April 2017 futures traded at 1,434.80, at a premium over spot closing of 1,434. SBI April 2017 futures traded at 293.90, at a premium over spot closing of 292.25. Tata Steel April 2017 futures traded at 503.85, at a premium over closing of 503.40.

Bharat Financial Inclusion April 2017 futures traded at 774.10, at a premium compared with spot closing of 769.95. DLF April 2017 futures traded at 157.25, at a premium over spot closing of 156.70.

The April 2017 F&O contracts will expire on 27 April 2017.

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ICICI Prudential slips on profit taking
Apr 06,2017

Meanwhile, the S&P BSE Sensex was down 46.90 points or 0.16% at 29,927.34

On the BSE, 76,000 shares were traded on the counter so far as against the average daily volumes of 2.26 lakh shares in the past one quarter. The stock hit a high of Rs 400.80 in intraday trade so far, which is a record high for the counter. The stock had hit a a low of Rs 391 so far during the day. The stock hit a record low of Rs 273.65 on 9 November 2016.

The stock had outperformed the market over the past 30 days till 5 April 2017, gaining 7.84% compared with the 3.36% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 21.7% as against Sensexs 11.52% gain.

The large-cap company has equity capital of Rs 1435.35 crore. Face value per share is Rs 10.

ICICI Prudential Life Insurance Companys net profit fell 24.28% to Rs 292.64 crore on 16.99% fall in total income to Rs 5047.42 crore in Q3 December 2016 over Q3 December 2015.

ICICI Prudential Life Insurance Company is the largest private sector life insurer in India. ICICI Prudential is a joint venture between ICICI Bank and Prudential Corporation Holdings, a part of the Prudential Group, an international financial services group. The company is one of the first private sector life insurance companies in India. It commenced operations in October 2000 and offers a range of life insurance, health insurance and pension products and services.

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Chambal Fertilisers drops after declaring plant shut down
Apr 06,2017

The announcement was made during market hours today, 6 April 2017.

Meanwhile, the S&P BSE Sensex was down 32.67 points or 0.11% at 29,941.57. Meanwhile, the S&P BSE Mid-Cap index was up 22.78 points or 0.16% at 14,278.33

On BSE, so far 1.10 lakh shares were traded in the counter as against average daily volume of 2.14 lakh shares in the past one quarter. The stock hit a high of Rs 89 and a low of Rs 86.50 so far during the day. The stock had hit a 52-week high of Rs 90.90 on 31 March 2017. The stock had hit a 52-week low of Rs 53.70 on 17 November 2016.

The stock had outperformed the market over the past 30 days till 5 April 2017, gaining 12.59% compared with the 3.36% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, gaining 7.17% as against Sensexs 11.52% gain.

The mid-cap company has equity capital of Rs 416.21 crore. Face value per share is Rs 10.

Chambal Fertilisers & Chemicals said that one of its urea plant at Gadepan, District Kota, Rajasthan (Gadepan-II) has been shut down from 6 April 2017 to carry out planned repair and maintenance activities. The plant is expected to resume operations from 3 May 2017.

Chambal Fertilisers & Chemicals reported net profit of Rs 130.18 crore in Q3 December 2016 as compared with net loss of Rs 158.52 crore in Q3 December 2015. Net sales fell 13.99% to Rs 2431.38 crore in Q3 December 2016 over Q3 December 2015.

Chambal Fertilisers & Chemicals is one of the largest private sector fertilizer producers in India.

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Realty shares head north after RBI policy
Apr 06,2017

DLF (up 4.28%), Prestige Estates Projects (up 2.71%), Oberoi Realty (up 1.95%), Indiabulls Real Estate (up 0.72%), Housing Development and Infrastructure (up 1.14%), Omaxe (up 0.67%), Unitech (up 3.59%), D B Realty (up 1.67%) and Godrej Properties (up 1.77%) edged higher. Sunteck Realty (down 2.54%) fell.

The S&P BSE Realty index was up 2.1% at 1,706.72 and was the top gainer among the sectoral indices on BSE. It outperformed the Sensex, which was down 72.12 points or 0.24% at 29,902.12

Purchases of both residential and commercial property are largely driven by finance.

The First Bi-monthly Monetary Policy Statement 2017-18 was announced today, 6 April 2017. On the basis of an assessment of the current and evolving macroeconomic situation at its meeting, the Monetary Policy Committee (MPC) decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.25%. Consequent upon the narrowing of the LAF corridor, the reverse repo rate under the LAF is at 6% , and the marginal standing facility (MSF) rate and the Bank Rate are at 6.5%.

The RBI said that the decision of the MPC is consistent with a neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4% within a band of +/- 2%, while supporting growth.

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Bank stocks mixed after RBIs policy decision
Apr 06,2017

The announcement of central banks policy decision was made during market hours today, 6 April 2017.

Meanwhile, the S&P BSE Sensex was down 60.21 points, or 0.2% to 29,914.03. The S&P BSE Bankex was down 42.48 points, or 0.17% to 24,668.81.

Among public sector banks, Syndicate Bank (down 0.62%), Corporation Bank (down 2.18%), Allahabad Bank (down 1.14%), State Bank of India (SBI) (down 0.81%), Union Bank of India (down 1.9%), Bank of India (down 0.66%) and United Bank of India (down 0.89%) edged lower. UCO Bank (up 0.01%), Punjab National Bank (up 0.46%), Bank of Baroda (up 0.37%), and Canara Bank (up 0.02%) edged higher.

Among private sector banks, Axis Bank (up 0.78%), HDFC Bank (up 0.11%), and Kotak Mahindra Bank (up 0.35%) edged higher. ICICI Bank (down 1.18%), Federal Bank (down 1.87%), and Yes Bank (down 0.33%) declined.

IndusInd Bank gained 1.13% after the bank said it proposes to raise funds by issue and allotment of rated, listed, non-convertible, perpetual, subordinated and unsecured Basel III compliant bonds in the nature of debentures towards non-equity regulatory additional tier I capital (AT1 bonds), for face value of Rs 10 lakh each for cash aggregating to Rs 1000 crore on private placement basis. The announcement was made after market hours yesterday, 5 April 2017.

The Reserve Bank of India (RBI) said that on the basis of an assessment of the current and evolving macroeconomic situation at its meeting, the Monetary Policy Committee (MPC) decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.25%.

Consequent upon the narrowing of the LAF corridor as elaborated on developmental and Regulatory Policies, the reverse repo rate under the LAF rose by 25 basis points to 6%, and the marginal standing facility (MSF) rate and the bank rate fell 25 basis points to 6.5% compared to earlier rates of 5.75% and 6.75% respectively after February policy decision.

The decision of the MPC is consistent with a neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4% within a band of +/- 2%, while supporting growth.

In consonance with the recommendation of the Expert Group to revise and strengthen the Monetary Policy Framework, the policy rate corridor was narrowed from +/-100 basis points (bps) to +/- 50 bps in April 2016, with a view to ensuring finer alignment of the weighted average call rate (WACR), the operating target of monetary policy, with the repo rate. In either extremely tight liquidity conditions or in situations of persistent excess liquidity, when most market participants are on one side of the market for overnight liquidity, a narrower corridor can contribute to finer alignment of the operating target with the policy rate.

Accordingly, it has been decided to narrow the policy rate corridor around the policy repo rate to +/-25 bps from +/- 50 bps with immediate effect. As a result, the reverse repo rate under the liquidity adjustment facility (LAF) would be 25 bps lower than the policy repo rate and the marginal standing facility (MSF) rate would be 25 bps higher than the policy repo rate

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Avanti Feeds jumps 14.7% in four sessions
Apr 06,2017

The stock jumped 14.7% in four sessions to its current price of Rs 822.40 from its close of Rs 717 on 30 March 2017.

Meanwhile, the S&P BSE Sensex was down 120.21 points, or 0.39% to 29,857.06. The S&P BSE Mid-Cap index was down 5.91 points, or 0.04% to 14,249.64.

On the BSE, 18,600 shares were traded in the counter so far as against average daily volume of 12,231 shares in the past one quarter. The stock had hit a high of Rs 836.80 and a low of Rs 815 so far during the day. The stock had hit a record high of Rs 848 yesterday, 5 April 2017. The stock had hit a 52-week low of Rs 390.50 on 6 April 2016.

It had outperformed the market over the past one month till 5 April 2017, advancing 21.16% compared with the Sensexs 3.96% rise. The scrip had also outperformed the market over the past one quarter, jumping 60.76% as against the Sensexs 11.52% rise.

The mid-cap company has an equity capital of Rs 9.08 crore. Face value per share is Re 2.

Avanti Feeds consolidated net profit rose 12.5% to Rs 41.11 crore on 35% rise in net sales to Rs 550.03 crore in Q3 December 2016 over Q3 December 2015.

Avanti Feeds is a leading provider of high quality feed, best technical support to the farmer and caters to the quality standards of global shrimp customers.

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Rattanindia Power declines on profit booking
Apr 06,2017

Meanwhile, the S&P Sensex was down 108.44 points, or 0.36% at 29,865.80. The S&P BSE Small-cap index was down 52.40 points, or 0.35% at 14,732.28.

On the BSE, 5.30 lakh shares were traded on the counter so far as against the average daily volumes of 6.87 lakh shares in the past one quarter. The stock had hit a high of Rs 8.75 and a low of Rs 8.42 so far during the day.

The stock had hit a 52-week high of Rs 12.29 on 7 July 2016 and a 52-week low of Rs 6.32 on 27 December 2016. The stock had outperformed the market over the past one month till 5 April 2017, advancing 22.13% compared with the Sensexs 3.96% rise. The scrip had also outperformed the market over the past one quarter advancing 19.62% as against the Sensexs 11.52% rise.

The small-cap company has equity capital of Rs 2,952.93 crore. Face value per share is Rs 10.

Rattanindia Power had rallied 17.68% in the preceding five trading sessions to settle at Rs 8.72 yesterday, 5 April 2017, from its closing of Rs 7.41 on 28 March 2017.

Rattanindia Power reported net loss of Rs 59.51 crore in Q3 December 2016, as compared with net loss of Rs 4.23 crore in Q3 December 2015. Net sales fell 62.2% to Rs 300.27 crore in Q3 December 2016 over Q3 December 2015.

Rattanindia Power (formerly Indiabulls Power) focuses on developing, constructing, and operating power projects in India.

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Edelweiss Financial Services hits 52-week high
Apr 06,2017

The announcement was made during market hours today, 6 April 2017.

Meanwhile, the S&P BSE Sensex was down 108.58 points or 0.36% at 29,860.76.

On the BSE, 4.78 lakh shares were traded in the counter so far as against average daily volume of 25.09 lakh shares in the past one quarter. The stock had hit a high of Rs 175.95, in intraday trade, which is also a 52-week high for the stock. The stock had hit a low of Rs 168.70 so far during the day. The stock had hit a 52-week low of Rs 53.40 on 8 April 2016.

It had outperformed the market over the past one month till 5 April 2017, advancing 25.53% compared with the Sensexs 3.96% rise. The scrip had also outperformed the market over the past one quarter, surging 70.2% as against the Sensexs 11.52% rise.

The large-cap company has equity capital of Rs 83.26 crore. Face value per share is Re 1.

Edelweiss Financial Services announced that The Insurance Regulatory & Development Authority of India (IRDAI) has accepted the registration application form IRDA/R2, for setting up a General Insurance Company in India, filed by Edelweiss General Insurance Company, a wholly owned subsidiary of the company.

This is the second stage of regulatory clearances required for carrying on the business as a general insurance company in India.

Separately, company announced after market hours yesterday, 5 April 2017 that Ecap Equities, a wholly owned subsidiary of the company entered into a share purchase agreement for purchase of 100% stake in Alternative Investment Market Advisors Private Limited (AIMIN) from its existing shareholders. AIMIN will become a wholly owned subsidiary of Ecap and in turn of the company.

AIMIN is a fintech company for fixed income analytics with innovative trade protocols that aids bond markets with efficient price discovery. This acquisition will help grow Edelweisss fixed income advisory business.

On a consolidated basis, Edelweiss Financial Services net profit rose 46.9% to Rs 155.18 crore on 20% growth in net sales to Rs 1612.47 crore in Q3 December 2016 over Q3 December 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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Delta Corp leads losers in A group
Apr 06,2017

Delta Corp lost 8.19% to Rs 186 at 13:55 IST. The stock topped the losers in the BSEs A group. On the BSE, 28.89 lakh shares were traded on the counter so far as against the average daily volumes of 17.59 lakh shares in the past two weeks.

Muthoot Finance dropped 4.04% to Rs 380. The stock was the second biggest loser in A group. On the BSE, 35,000 shares were traded on the counter so far as against the average daily volumes of 56,000 shares in the past two weeks.

Just Dial fell 3.37% at Rs 536.60. The stock was the third biggest loser in A group. On the BSE, 1.66 lakh shares were traded on the counter so far as against the average daily volumes of 2.50 lakh shares in the past two weeks.

Gujarat Pipavav Port declined 3.12% to Rs 166.30. The stock was the fourth biggest loser in A group. On the BSE, 56,000 shares were traded on the counter so far as against the average daily volumes of 54,000 shares in the past two weeks.

Hindalco Industries slipped 3.15% to Rs 191.95. The stock was the fifth biggest loser in A group. On the BSE, 5.35 lakh shares were traded on the counter so far as against the average daily volumes of 7.63 lakh shares in the past two weeks.

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