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Coal India gains as board to consider buyback of equity shares
Jul 05,2016

The announcement was made during market hours today, 5 July 2016.

Meanwhile, the S&P BSE Sensex was down 113.38 points or 0.42% at 27,165.38

On BSE, so far 3.45 lakh shares were traded in the counter as against average daily volume of 5.12 lakh shares in the past one quarter. The stock hit high of Rs 323.10 and low of Rs 317 so far during the day. The stock had hit a record high of Rs 447.25 on 5 August 2015. The stock had hit a 52-week low of Rs 272.05 on 12 April 2016. The stock had outperformed the market over the past 30 days till 4 July 2016, rising 2.75% compared with Sensexs 1.62% rise. The scrip also outperformed the market in past one quarter, rising 14.98% as against Sensexs 9.63% gain.

The large-cap company has equity capital of Rs 6316.36 crore. Face value per share is Rs 10.

Shares of Coal India rose 2.37% to settle at Rs 317.45 yesterday, 4 July 2016 after the company said that Coal India and its subsidiaries on a provisional basis achieved 99% of targeted production at 42.72 million tonnes in June 2016. With respect to coal offtake, 95% of target was achieved for the month. The total offtake stood at 44.96 million tonnes in June 2016. The company announced the monthly coal production and offtake performance market hours on Friday, 1 July 2016.

Coal Indias consolidated net profit rose 0.2% to Rs 4247.93 crore on 0.7% decline in total income to Rs 22904.36 crore in Q4 March 2016 over Q4 March 2015.

State-run Coal India is Indias biggest coal miner. The Government of India currently holds 79.65% stake in Coal India (as per the shareholding pattern as on 31 March 2016).

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Reliance Power gains about 4% in two sessions
Jul 05,2016

Meanwhile, the BSE Sensex was down 112.67 points, or 0.41%, to 27,166.09.

On BSE, so far 14.29 lakh shares were traded in the counter, compared with average daily volume of 7.03 lakh shares in the past one quarter. The stock hit a high of Rs 54.50 and a low of Rs 52.20 so far during the day. The stock hit a 52-week high of Rs 61.40 on 12 January 2016. The stock hit a record low of Rs 33.05 on 25 August 2015. The stock had outperformed the market over the past 30 days till 4 July 2016, rising 3.25% compared with 1.62% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, gaining 7.37% as against Sensexs 9.63% rise.

The large-cap company has an equity capital of Rs 2805.13 crore. Face value per share is Rs 10.

Reliance Power announced during trading hours yesterday, 4 July 2016, that the Supreme Court of India did not grant stay on Appellate Tribunal for Electricity (APTEL)s order dated 31 March 2016, as requested by procurers of Sasan Ultra Mega Power Project (UMPP) during the proceedings on 29 June 2016.

Shares of Reliance Power rose 1.65% to Rs 52.45 yesterday, 4 July 2016. The stock has risen 3.97% in two trading sessions from its close of Rs 51.60 on Friday, 1 July 2016.

APTELs order pertains to Commercial Operation Date (COD) of first unit of Sasan UMPP. Procurers of Sasan UMPP are required to continue to make payments towards COD dues as directed by Central Electricity Regulatory Commission (CERC).

APTEL order had paved the way for Sasan Power (SPL) to recover the unpaid amount of nearly Rs 850 crore from the procurers and late payment surcharge of nearly Rs 200 crore as per the power purchase agreement (PPA).

According to media reports, the Western Region Load Dispatch Centre (WRLDC) in August 2013, had filed a case with the APTEL against Reliance Power, claiming that the company could not achieve its full load by March that year, leading to a delay in the COD. APTEL had directed the case to the CERC. In an order in August 2014, CERC said the COD suggested by the company could not be accepted as the full load could not be achieved by then. CERC also directed the Sasan to sell power at 70 paisa - instead of Rs 1.19 - per unit, which was the quoted tariff for the third year.

Reliance Power, in its petition with APTEL, contested the CERC order. The APTEL in late March 2016 upheld Reliance Powers plea and noted this was an arbitrary and discriminatory treatment by WRLDC.

The Sasan UMPP implemented in Singrauli District of Madhya Pradesh, is the largest integrated power plant cum coal mining project at a single location in the world, involving investment of over Rs 27000 crore.

On a consolidated basis, net profit of Reliance Power rose 15.80% to Rs 320.16 crore on 64.32% rise in net sales to Rs 2604.38 crore in Q4 March 2016 over Q4 March 2015.

Reliance Power, a part of the Reliance Group, is Indias leading private sector power generation and coal resources company. The company has the largest portfolio of power projects in the private sector, based on coal, gas, hydro and renewable energy, with an operating capacity of 5,945 megawatts.

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Sunteck Realty reverses previous days decline on bargain hunting
Jul 05,2016

Meanwhile, the BSE Sensex was down 119.46 points, or 0.44%, to 27,159.30

On BSE, so far 1.78 lakh shares were traded in the counter as against average daily volume of 52,142 shares in the past one quarter. The stock hit a high of Rs 244 and a low of Rs 233.90 so far during the day. The stock had hit a 52-week high of Rs 317.95 on 20 July 2015. The stock had hit a 52-week low of Rs 173 on 12 February 2016. The stock had outrperformed the market over the past 30 days till 4 July 2016, rising 6.8% compared with Sensexs 1.62% rise. The scrip, however, underperformed the market in past one quarter, rising 7.22% as against Sensexs 9.63% gain.

The small-cap real estate developer has an equity capital of Rs 12.59 crore. Face value per share is Rs 2.

Shares of Sunteck Realty had dropped 8.54% to settle at Rs 232.40 yesterday, 4 July 2016 after Kotak Alternate Opportunities India Fund sold 10.25 lakh shares of the company at an average price of Rs 224.90 per share in a bulk deal on the BSE. On the same day, the fund sold 11.75 lakh shares of the company at an average price of Rs 226.58 per share in a bulk deal on the NSE.

On a consolidated basis, Sunteck Realtys net profit surged 292.53% to Rs 155.99 crore on 429.78% surge in net sales to Rs 743.23 crore in Q4 March 2016 over Q4 March 2015.

Sunteck Realty is a leading real estate developer, with a focus in Mumbai.

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Fertiliser stocks decline after price cut
Jul 05,2016

Coromandel International (down 10.53%), Zuari Global (down 2.88%), National Fertilizers (down 2.86%), Fertilisers & Chemicals Travancore (down 2.52%), Gujarat State Fertilizers Company (down 2.44%), Deepak Fertilisers & Petrochemicals Corporation (down 2.38%), Chambal Fertilisers & Chemicals (down 2.21%), Tata Chemicals (down 0.42%) and Nagarjuna Fertilisers and Chemicals (down 2.52%), edged lower. Rashtriya Chemicals and Fertilisers was up 0.10%.

The S&P BSE Sensex was down 100.52 points, or 0.37% at 27,178.24.

The retail prices of non-urea fertilisers including Di-ammonium Phosphate (DAP) have been slashed by up to Rs 5,000 a tonne, Union Minister Ananth Kumar said in a press conference held yesterday, 4 July 2016. The state-run fertiliser firms Rashtriya Chemicals and Fertilizers (RCF) and National Fertilizers (NFL) have agreed to reduce the price of non-urea fertilisers, Kumar said. The retail price of DAP has been cut by Rs 2,500 a tonne, Muriate of Potash (MoP) by Rs 5,000 a tonne. For a bag of 50 kg, the effective rate for DAP would come down by Rs 125 and MoP by Rs 250. The rate cut, which would be effective immediately, would entail a benefit of Rs 4,500 crore to farmers, he said, adding the move would help promote balanced use of fertiliser.

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Volumes jump at Crompton Greaves Consumer Electricals counter
Jul 05,2016

Crompton Greaves Consumer Electricals notched up volume of 31.76 lakh shares by 14:18 IST on BSE, a 52.29-fold surge over two-week average daily volume of 61,000 shares. The stock dropped 1.12% at Rs 141.20.

INOX Leisure clocked volume of 11.74 lakh shares, a 29.7-times surge over two-week average daily volume of 40,000 shares. The stock slipped 0.06% at Rs 245.

Gateway Distriparks saw volume of 2.03 lakh shares, a 29.01-fold surge over two-week average daily volume of 7,000 shares. The stock fell 0.78% at Rs 310.55.

J. Kumar Infraprojects clocked volume of 2.26 lakh shares, a 25.58-fold surge over two-week average daily volume of 9,000 shares. The stock surged 8.16% at Rs 241.30.

Sunil Hitech Engineers saw volume of 3.15 lakh shares, a 24.99-fold rise over two-week average daily volume of 13,000 shares. The stock jumped 10.88% at Rs 186.55.

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Ashok Leyland tumbles after brokerage downgrade
Jul 05,2016

Meanwhile, the BSE Sensex was down 97.95 points, or 0.36%, to 27,180.81.

On BSE, so far 21.54 lakh shares were traded in the counter, compared with average daily volume of 13.09 lakh shares in the past one quarter. The stock hit a high of Rs 96.40 and a low of Rs 92.50 so far during the day. The stock hit a record high of Rs 112.80 on 13 April 2016. The stock hit a 52-week low of Rs 70.50 on 6 July 2015. The stock had underperformed the market over the past 30 days till 4 July 2016, falling 8.04% compared with 1.62% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 10.11% as against Sensexs 9.63% rise.

The large-cap company has an equity capital of Rs 284.59 crore. Face value per share is Re 1.

According to reports, the brokerage said that domestic medium & heavy commercial vehicles (M&HCV) industry volumes have declined on annual basis in June 2016, which the market considers an one-off due to strong growth in April-May 2016.

The brokerage reportedly warned that freight demand in the economy is weak while replacement demand is also moderating. Slowdown in the below 25-ton segment is even more steep while truck freight rates are not increasing, it reportedly added.

Ashok Leyland reported 7% rise in total vehicle sales to 11,108 units in June 2016 over June 2015. Total M&HCV sales rose 8% to 8,685 units in June 2016 over June 2015. Total light commercial vehicles (LCV) sales were almost flat at 2,423 units in June 2016, compared with 2413 units in June 2015. The announcement was made during trading hours on Friday, 1 July 2016.

Ashok Leylands net profit dropped 66.5% to Rs 77.02 crore on 32.9% rise in net sales to Rs 5893.49 crore in Q4 March 2016 over Q4 March 2015.

Ashok Leyland is the second largest manufacturer of commercial vehicles in terms of sales in India.

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Ashok Leyland skids after brokerage downgrade
Jul 05,2016

Meanwhile, the BSE Sensex was down 97.95 points, or 0.36%, to 27,180.81.

On BSE, so far 21.54 lakh shares were traded in the counter, compared with average daily volume of 13.09 lakh shares in the past one quarter. The stock hit a high of Rs 96.40 and a low of Rs 92.50 so far during the day. The stock hit a record high of Rs 112.80 on 13 April 2016. The stock hit a 52-week low of Rs 70.50 on 6 July 2015. The stock had underperformed the market over the past 30 days till 4 July 2016, falling 8.04% compared with 1.62% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 10.11% as against Sensexs 9.63% rise.

The large-cap company has an equity capital of Rs 284.59 crore. Face value per share is Re 1.

According to reports, the brokerage has reduced its target price on Ashok Leyland stock to Rs 85 from Rs 110 earlier. The brokerage has reportedly said in a research note that freight demand in the economy is weak while replacement demand for medium & heavy commercial vehicles is also moderating. Slowdown in the below 25 ton segment is even more steep while truck freight rates are not increasing, the brokerage has said according to media reports.

Ashok Leyland reported 7% rise in total vehicle sales to 11,108 units in June 2016 over June 2015. Total M&HCV sales rose 8% to 8,685 units in June 2016 over June 2015. Total light commercial vehicles (LCV) sales were almost flat at 2,423 units in June 2016, compared with 2,413 units in June 2015. The company announced the monthly sales volume data during trading hours on 1 July 2016.

Ashok Leylands net profit dropped 66.5% to Rs 77.02 crore on 32.9% rise in net sales to Rs 5893.49 crore in Q4 March 2016 over Q4 March 2015.

Ashok Leyland is the second largest manufacturer of commercial vehicles in terms of sales in India.

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HCC jumps as joint venture wins Mumbai Metro III contract
Jul 05,2016

The announcement was made during market hours today, 5 July 2016.

Meanwhile, the S&P BSE Sensex was down 74.92 points or 0.27% at 27,203.84

On BSE, so far 26.96 lakh shares were traded in the counter as against average daily volume of 6.51 lakh shares in the past one quarter. The stock hit a high of Rs 22.75 and a low of Rs 20.90 so far during the day. The stock had hit a 52-week high of Rs 29.20 on 21 October 2015. The stock had hit a 52-week low of Rs 16.35 on 25 August 2015. The stock had outperformed the market over the past 30 days till 4 July 2016, rising 12.37% compared with Sensexs 1.62% rise. The scrip, however, underperformed the market in past one quarter, rising 6.91% as against Sensexs 9.63% gain.

The small-cap company has equity capital of Rs 77.92 crore. Face value per share is Re 1.

Hindustan Construction Company (HCC) said that the contract is for construction of 4,072 meter corridor of the underground metro line including four underground stations at Chatrapati Shivaji Terminus, Kalbadevi, Girgaon and Grant Road and twin bored tunnels of total length of 3,115 meter. The project is to be completed in 55 months, HCC said. This is part of the Line 3 of the Mumbai Metro from Colaba to SEEPZ, the company said. When completed, the 33.5 km long line with 26 underground and one at-grade station will be the first underground metro line in Mumbai, it added.

Arun Karambelkar, President & CEO- E&C, HCC said that the company has built parts of Kolkata Metro, Delhi Metro and Mumbai Metro - Phase I. HCC has been associated with 6 packages of Delhi Metro totaling 18.14 kilometres (km) of tunnels and 13 underground stations. In Kolkata Metro, HCC has constructed 6.47 km tunnels in 6 packages that include 4 underground stations. And in Mumbai Metro I, the company has built 8 elevated stations.

HCCs net profit declined 7.3% to Rs 19.14 crore on 4.6% growth in net sales to Rs 1171.88 crore in Q4 March 2016 over Q4 March 2015.

HCC is a business group of global scale developing and building responsible infrastructure through next practices. The company serves the infrastructure sectors of transportation, power and water. HCC is also developing Lavasa City, a planned hill city and one of Indias largest urban development and management initiatives.

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HCC jumps as joint venture wins a portion of Mumbai Metro III contract
Jul 05,2016

The announcement was made during market hours today, 5 July 2016.

Meanwhile, the S&P BSE Sensex was down 74.92 points or 0.27% at 27,203.84

On BSE, so far 26.96 lakh shares were traded in the counter as against average daily volume of 6.51 lakh shares in the past one quarter. The stock hit a high of Rs 22.75 and a low of Rs 20.90 so far during the day. The stock had hit a 52-week high of Rs 29.20 on 21 October 2015. The stock had hit a 52-week low of Rs 16.35 on 25 August 2015. The stock had outperformed the market over the past 30 days till 4 July 2016, rising 12.37% compared with Sensexs 1.62% rise. The scrip, however, underperformed the market in past one quarter, rising 6.91% as against Sensexs 9.63% gain.

The small-cap company has equity capital of Rs 77.92 crore. Face value per share is Re 1.

The contract is for construction of 4,072 meter corridor of the underground metro line including four underground stations at Chatrapati Shivaji Terminus, Kalbadevi, Girgaon and Grant Road and twin bored tunnels of total length of 3,115 meters. The project is to be completed in 55 months, HCC said. This is part of the Line 3 of the Mumbai Metro from Colaba to SEEPZ, the company said. When completed, the 33.5 kilometre long line with 26 underground and one at-grade station will be the first underground metro line in Mumbai.

Commenting on the metro rail contract, Arun Karambelkar, President & CEO- E&C, HCC said that the company is a pioneer in underground construction and that the management is confident of completing the work in an efficient and speedier manner.

HCCs net profit declined 7.3% to Rs 19.14 crore on 4.6% growth in net sales to Rs 1171.88 crore in Q4 March 2016 over Q4 March 2015.

HCC is into infrastructure development in transportation, power and water segments. HCC is developing a planned hill city named Lavasa near Pune in Maharashtra.

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Elantas Beck India gains after board approves selling Pune property
Jul 05,2016

Meanwhile, the BSE Sensex was down 90.58 points, or 0.33%, to 27,188.18.

On BSE, so far 4,610 shares were traded in the counter, compared with average daily volume of 2,599 shares in the past one quarter. The stock hit a high of Rs 1,648 and a low of Rs 1,573.05 so far during the day. The stock hit a 52-week high of Rs 1,670 on 30 June 2016. The stock hit a 52-week low of Rs 1,061.50 on 6 July 2015. The stock had outperformed the market over the past 30 days till 4 July 2016, rising 5.07% compared with 1.62% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 23.85% as against Sensexs 9.63% rise.

The small-cap company has an equity capital of Rs 7.93 crore. Face value per share is Rs 10.

The property admeasuring about 6,239 square metres is located at Pimpri Waghere on the Mumbai-Pune Road. The approval is subject to the terms and conditions to be agreed through a memorandum of understanding to be executed between the company and the buyer Sukhwani Associates. The companys board of directors will meet again on 27 July 2016 for its final approval for the proposal.

Net profit of Elantas Beck India rose 56.32% to Rs 13.49 crore on 13.4% rise in net sales to Rs 90.80 crore in Q1 March 2016 over Q1 March 2015.

Elantas Beck India manufactures a wide range of specialty chemicals for electrical insulation and construction industries.

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Tata Steel extends gains after declaring rise in Q1 saleable steel production
Jul 05,2016

Meanwhile, the BSE Sensex was down 15.88 points, or 0.06%, to 27,262.88

On BSE, so far 3.77 lakh shares were traded in the counter compared with average daily volume of 9.48 lakh shares in the past one quarter. The stock hit a high of Rs 337.10 and a low of Rs 330 so far during the day. The stock hit a 52-week high of Rs 364.15 on 21 April 2016. The stock hit a 52-week low of Rs 200 on 29 September 2015. The stock had underperformed the market over the past 30 days till 4 July 2016, falling 2.2% compared with Sensexs 1.62% rise. The scrip also underperformed the market in past one quarter, rising 6.12% as against Sensexs 9.63% gain.

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

Shares of Tata Steel had gained 1.18% to settle at Rs 331.20 yesterday, 4 July 2016 after the company on provisional basis reported a 5.7% rise in saleable steel production at 2.356 million tonnes in Q1 June 2016 over Q1 June 2015. Hot metal production rose 16.4% to 3.012 million tonnes in Q1 June 2016 over Q1 June 2015. Crude steel production was up 7.7% to 2.525 million tonnes in Q1 June 2016 over Q1 June 2015. The announcement was made during market hours yesterday, 4 July 2016.

Tata Steel reported consolidated net loss of Rs 3213.76 crore in Q4 March 2016, higher than net loss of Rs 5674.29 crore in Q4 March 2015. Tata Steels total income fell 12.34% to Rs 29636.69 crore in Q4 March 2016 over Q4 March 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, with a steel capacity of more than 28 million tonnes and 80,000 employees across five continents.

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Dhanlaxmi Bank gains after board approves raising funds
Jul 05,2016

The announcement was made before trading hours today, 5 July 2016.

Meanwhile, the BSE Sensex was down 45.33 points, or 0.17%, to 27,233.43.

On BSE, so far 96,000 shares were traded in the counter, compared with average daily volume of 1.03 lakh shares in the past one quarter. The stock hit a high of Rs 24.90 and a low of Rs 24 so far during the day. The stock hit a 52-week high of Rs 34.25 on 13 July 2015. The stock hit a 52-week low of Rs 16.90 on 12 February 2016. The stock had outperformed the market over the past 30 days till 4 July 2016, rising 19.11% compared with 1.62% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 22.14% as against Sensexs 9.63% rise.

The small-cap company has an equity capital of Rs 177.44 crore. Face value per share is Rs 10.

Dhanlaxmi Bank said that its board of directors approved the proposal for further issue of equity shares upto a maximum of Rs 200 crore on preferential allotment basis. The bank will hold postal ballot for seeking approval of shareholders for the same.

Dhanlaxmi Bank reported a net loss of Rs 131.60 crore in Q4 March 2016, higher than net loss of Rs 266.61 crore in Q4 March 2015. Total income declined 3.88% to Rs 323.98 crore in Q4 March 2016 over Q4 March 2015.

Dhanlaxmi Bank is a private-sector bank incorporated in 1927 at Thrissur in Kerala.

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Modison Metals gains after signing MoU with Russian firm
Jul 05,2016

The announcement was made after market hours yesterday, 4 July 2016.

Meanwhile, the BSE Sensex was down 61.73 points , or 0.23%, to 27,217.03

On BSE, so far 37,250 shares were traded in the counter as compared with average daily volume of 21,053 shares in the past one quarter. The stock hit a high of Rs 65.60 and a low of Rs 61.50 so far during the day. The stock hit a 52-week high of Rs 67.40 in intraday trade yesterday, 4 July 2016. The stock hit a 52-week low of Rs 36.05 on 23 September 2015. The stock had outperformed the market over the past 30 days till 4 July 2016, advancing 19.3% compared with Sensexs 1.62% rise. The scrip also outperformed the market in past one quarter, rising 19.07% as against Sensexs 9.63% gain.

The small-cap company has an equity capital of Rs 3.25 crore. Face value per share is Re 1.

Modison Metals said that the proposed joint venture with the Russian company will manufacture and sell technology, precious metal products for electronic and automobile industry in India. Ekaterinburg Non-Ferrous Metal Processing Plant renders full range of precious metals refining and processing services and manufactures products of industrial usage made of gold, silver and platinum-group metals. Ekaterinburg Non-Ferrous Processing Plant belongs to the Renova Group.

Modison Metals manufactures electrical contacts for low, medium and high voltage switchgear industries under one roof.

Modison Metals net profit rose 248.48% to Rs 3.45 crore on 2.84% rise in net sales to Rs 45.55 crore in Q4 March 2016 over Q4 March 2015.

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Modison Metals gains after signing MoU with Russia firm
Jul 05,2016

The announcement was made after market hours yesterday, 4 July 2016.

Meanwhile, the BSE Sensex was down 61.73 points , or 0.23%, to 27,217.03

On BSE, so far 37,250 shares were traded in the counter as compared with average daily volume of 21,053 shares in the past one quarter. The stock hit a high of Rs 65.60 and a low of Rs 61.50 so far during the day. The stock hit a 52-week high of Rs 67.40 yesterday, 4 July 2016. The stock hit a 52-week low of Rs 36.05 on 23 September 2015. The stock had outperformed the market over the past 30 days till 4 July 2016, advancing 19.3% compared with Sensexs 1.62% rise. The scrip also outperformed the market in past one quarter, rising 19.07% as against Sensexs 9.63% gain.

The small-cap company has an equity capital of Rs 3.25 crore. Face value per share is Re 1.

Modison Metals said that the company has signed a memorandum of understanding (MoU) with Ekaterinburg Non-Ferrous Processing Plant, Russia, Renova Group to float a joint venture company (JVC) in India. The JVC will jointly manufacture and sell with its technology, precious metal products for electronic and automobile industry.

Modison Metals net profit rose 248.48% to Rs 3.45 crore on 2.84% rise in net sales to Rs 45.55 crore in Q4 March 2016 over Q4 March 2015.

Modison Metals manufactures electrical contacts for low, medium and high voltage switchgear industries under one roof.

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Jaypee Group stocks in demand after deal with UltraTech Cement
Jul 05,2016

Jaiprakash Associates (up 29.63%), Jaypee Infratech (up 14.97%) and Jaiprakash Power Ventures (up 13.89%) surged.

The S&P BSE Sensex was down 68.27 points, or 0.25% at 27,210.49.

Shares of Jaypee Group companies spurted in anticipation that the deal with UltraTech Cement (UTCL) will help Jaypee Group pare its debt. Commenting on the divestment of some units of Jaiprakash Associates, Manoj Gaur, executive chairman, Jaypee Group said that the Jaypee Group is determined to reduce its overall debt through its proactive divestment initiatives to help the Group tide these current turbulent times caused by economic slowdown in the country. The Group would continue to leverage expertise in the fields of engineering & construction, real estate and project execution in a committed manner, he said.

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