My Application Form Status

Check the status of your application form with Angel Broking.
Arq - The Hyper Intelligent Investment Engine By Angel Broking
Asian Oilfield drops on profit booking
Dec 26,2016

Meanwhile, the S&P BSE Sensex was down 267.39 points or 1.03% at 25,773.31.

On the BSE, 46,000 shares were traded on the counter so far as against the average daily volumes of 1.38 lakh shares in the past one quarter. The stock had hit a high of Rs 115.75 and a low of Rs 108.50 so far during the day.

The stock had hit a 52-week high of Rs 124 on 14 December 2016 and a 52-week low of Rs 27.90 on 12 February 2016. It had outperformed the market over the past one month till 23 December 2016, advancing 54.64% compared with the Sensexs 0.04% fall. The scrip had also outperformed the market in past one quarter, surging 90.22% as against the Sensexs 9.17% fall.

The small-cap company has equity capital of Rs 22.32 crore. Face value per share is Rs 10.

Shares of Asian Oilfield Services surged 9.2% to settle at Rs 115.75 on Friday, 23 December 2016 after the company announced after market hours on 22 December 2016 that it has scheduled a board meeting on 27 December 2016, to consider allotment of warrants.

Meanwhile, the companys shareholders at its extraordinary general meeting (EGM) held on Friday, 23 December 2016, approved issue of up to 1.45 crore warrants of Rs 80 each in one or more tranches to a promoter entity Oilmax Energy (1 crore warrants ) and a non-resident investor Balram Chainrai (45 lakh warrants). The warrants are convertible into equity shares at an issue price of Rs 80 per warrant, at any time within 18 months from the date of allotment of the warrants.

Asian Oilfield Services reported consolidated net loss of Rs 11.12 crore in Q2 September 2016 as against net profit of Rs 4.09 crore in Q2 September 2015. Net sales declined 94.7% to Rs 3.09 crore in Q2 September 2016 over Q2 September 2015.

Asian Oilfield Services is engaged in providing geophysical, drilling and well services to customers across the Indian sub-continent.

Powered by Capital Market - Live News

Panacea Biotec gains after launching fully-liquid vaccine
Dec 26,2016

The announcement was made during trading hours today, 26 December 2016.

Meanwhile, the BSE Sensex was down 229.51 points, or 0.88%, to 25,811.19.

On the BSE, so far 31,000 shares were traded in the counter, compared with average daily volumes of 16,189 shares in the past one quarter. The stock had hit a high of Rs 127 and a low of Rs 110.10 so far during the day.

The stock hit a 52-week high of Rs 155 on 25 July 2016. The stock hit a 52-week low of Rs 83.90 on 12 February 2016. The stock had outperformed the market over the past 30 days till 23 December 2016, rising 3.19% compared with the 0.70% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 7.03% as against Sensexs 9.17% decline.

The small-cap company has equity capital of Rs 6.13 crore. Face value per share is Re 1.

Panacea Biotec announced launch of Tetravalent Vaccine Easyfour-TT for active primary immunization and booster dose against diphtheria, tetanus and pertussis (DTP) and Haemophilus Influenza Type B (Hib).

Panacea Biotec is committed to protect children from vaccine-preventable diseases, Easyfour TT (DTwP-Hib), worlds first fully liquid Tetravalent vaccine launch in India will protect infant from Dn++ptheria, Tetanus, Whopping Cough, Hib-Meningitis.

Easyfour-TT is a sterile and uniform suspension, manufactured using CDAP technology with WHO pre-qualified antigens which ensures good quality, high immurogenicity and less reactogenicity. Being fully liquid, product requires, no reconstitution, therefore saves time and minimizes chance of error. Easyfour-TT comes with a legacy of being a tried and tested brand in pediatric clinical trials ensuring good ethnic response with a better reactogenicity profile.

Panacea Biotec reported net loss of Rs 11.84 crore in Q2 September 2016 as against net loss of Rs 17 crore in Q2 September 2015. Net sales declined 18.3% to Rs 131.56 crore in Q2 September 2016 over Q2 September 2015.

Panacea Biotec is one of Indias leading research based health management companies with established research, manufacturing and marketing capabilities.

Powered by Capital Market - Live News

Welspun Enterprises gains after board approves divesting stake in Welspun Energy
Dec 26,2016

The announcement was made on Saturday, 24 December 2016.

Meanwhile, the BSE Sensex was down 230.23 points, or 0.88%, to 25,810.47.

On the BSE, so far 2.33 lakh shares were traded in the counter, compared with average daily volumes of 1.23 lakh shares in the past one quarter. The stock had hit a high of Rs 63.40 and a low of Rs 60.30 so far during the day.

The stock hit a 52-week high of Rs 75.30 on 3 November 2016. The stock hit a 52-week low of Rs 43 on 12 February 2016. The stock had outperformed the market over the past 30 days till 23 December 2016, rising 3.03% compared with the 0.70% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 7.47% as against Sensexs 9.17% decline.

The small-cap company has equity capital of Rs 174.28 crore. Face value per share is Rs 10.

Welspun Enterprises (WEL) announced that the board of directors of the company has approved sale of its entire investment of 6.04 crore equity shares, representing 15.49% stake, in the paid up equity share capital of Welspun Energy.

Post sale of its renewable business, WELs 15.49% minority stake in Welspun Energy does not contribute to the consolidated results of the company. In order to unlock value for the company, the board of WEL authorised the monetization of this stake, subject to shareholders approval.

As against its investment of Rs 91.10 crore, the stake is proposed to be sold to Welshop Trading, for a consideration of approximately Rs 290 crore plus contingent consideration, thereby implying more than three times returns to the company on its investment.

In addition to buying out WELs stake, Welshop Trading, part of Welspun Group, has agreed to buy out the stake of other shareholders in Welspun Energy at equivalent consideration.

Last week, Welspun Enterprises announced that it plans to buyback up to 25% of its share capital at Rs 62 per share. With a view of utilising the companys substantial cash reserves and in order to enhance shareholder value, the companys board approved buy back of 25% of the companys share capital. The buyback would be at Rs 62 per share in cash for an aggregate consideration not exceeding Rs 270 crore. The promoter group, except the foreign co-promoters holding 2.17%, have indicated their intention to participate in the proposed buyback. The announcement was made after market hours on Thursday, 22 December 2016.

Net profit of Welspun Enterprises rose 116.67% to Rs 2.86 crore on 16.9% rise in net sales to Rs 33.22 crore in Q2 September 2016 over Q2 September 2015.

Welspun Enterprises (WEL), formerly Welspun Projects, part of the Welspun Group, is an operating the company in the infrastructure business. The company also has investments in oil & gas exploration. The company, in its current form was created through the merger of Welspun Enterprises, Welspun Infratech, Welspun Plastics and Welspun Infra Projects with Welspun Projects through the scheme of amalgamation and arrangement made effective from 11 May 2015.

Powered by Capital Market - Live News

Deepak Nitrite extends falling trend despite Reliance MFs buying
Dec 26,2016

Meanwhile, the S&P BSE Sensex was down 220.40 points or 0.85% at 25,820.30.

On the BSE, 1.10 lakh shares were traded on the counter so far as against the average daily volumes of 59,159 shares in the past one quarter. The stock had hit a high of Rs 87.25 and a low of Rs 75.80 so far during the day.

The stock had hit a record high of Rs 134.25 on 9 September 2016 and a 52-week low of Rs 56.10 on 12 February 2016. It had underperformed the market over the past one month till 23 December 2016, sliding 8.03% compared with the Sensexs 0.04% fall. The scrip had also underperformed the market in past one quarter, declining 30.06% as against the Sensexs 9.17% fall.

The small-cap company has equity capital of Rs 23.26 crore. Face value per share is Rs 2.

Shares of Deepak Nitrite tumbled 15.69% in seven straight trading sessions from its close of Rs 99.10 on 15 December 2016.

On Friday, 23 December 2016, Quest Investment Advisors sold 35.35 lakh shares of Deepak Nitrite at an average price of Rs 85.12 per share in bulk deals on the NSE. Reliance Mutual Fund-Reliance Small Cap Fund bought 35.73 lakh shares at Rs 85.06 a piece. Quest is an investment management services firm.

Deepak Nitrites net profit rose 4.3% to Rs 15.41 crore on 10.6% decline in net sales to Rs 299.07 crore in Q2 September 2016 over Q2 September 2015.

Deepak Nitrite is a multi-division and multi-product company. The companys portfolio is a wide spectrum of products with diverse applications ranging from agrochemicals, rubber, pharmaceuticals, paper, textile, detergent, colourants, petrochemicals to speciality and fine chemicals.

Powered by Capital Market - Live News

Camlin Fine Sciences gains on acquisition plan
Dec 26,2016

The announcement was made after market hours on Friday, 23 December 2016.

Meanwhile, the BSE Sensex was down 209.30 points, or 0.80%, to 25,831.40.

On the BSE, so far 66,000 shares were traded in the counter, compared with average daily volumes of 2.10 lakh shares in the past one quarter. The stock had hit a high of Rs 103.10 and a low of Rs 98.95 so far during the day.

The stock hit a 52-week high of Rs 119.60 on 26 October 2016. The stock hit a 52-week low of Rs 76.10 on 29 February 2016. The stock had underperformed the market over the past 30 days till 23 December 2016, falling 5.85% compared with the 0.70% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 14.27% as against Sensexs 9.17% decline.

The small-cap company has equity capital of Rs 10.33 crore. Face value per share is Re 1.

Camlin Fine Sciences said it entered into share purchase agreement to acquire 51% stake in Chinas Ningbo Wanglong Flavors & Fragrances Company (NWFFCL). The cost of proposed acquisition will be disclosed after the completion of the transaction, it added. The acquisition is subject to Reserve Bank of Indias (RBI) approval and will get completed on or before 30 June 2017.

NWFFCL was incorporated on 20 November 2015 and is a part of proposed joint venture with Wanglong Group Company. Ningbo is engaged in research, development and manufacture of flavours and fragrances products (Vanillin); import and export of goods and technologies.

On a consolidated basis, Camlin Fine Sciences reported net loss of Rs 0.80 crore in Q2 September 2016 as against net profit of Rs 5.06 crore in Q2 September 2015. Net sales declined 3.97% to Rs 109.14 crore in Q2 September 2016 over Q2 September 2015.

Camlin Fine Sciences is a provider of high-quality shelf life extension solutions including antioxidants, aroma ingredients and performance chemicals.

Powered by Capital Market - Live News

Apar Industries gains as board to consider share buyback
Dec 26,2016

The announcement was made after market hours on Friday, 23 December 2016.

Meanwhile, the S&P BSE Sensex was down 204.46 points or 0.79% at 25,836.24.

On the BSE, 1,830 shares were traded on the counter so far as against the average daily volumes of 14,833 shares in the past one quarter. The stock had hit a high of Rs 589.25 and a low of Rs 574.90 so far during the day.

The stock had hit a record high of Rs 633.55 on 1 August 2016 and a 52-week low of Rs 406 on 29 February 2016. The stock had outperformed the market over the past one month till 23 December 2016, advancing 1.32% compared with the Sensexs 0.04% fall. The scrip had also outperformed the market over the past one quarter falling 2.89% as against the Sensexs 9.71% fall.

The small-cap company has equity capital of Rs 38.50 crore. Face value per share is Rs 10.

Apar Industries net profit rose 82.2% to Rs 45.66 crore on 1.5% rise in net sales to Rs 1252.58 crore in Q2 September 2016 over Q2 September 2015.

Apar Industries is engaged in the business of manufacture of conductors, transformer/specialty oils and power/telecom cables.

Powered by Capital Market - Live News

Reliance Defence inches up as Morgan Stanley purchases bulk shares
Dec 26,2016

Meanwhile, the S&P BSE Sensex was down 238.94 points or 0.92% at 25,801.76.

On the BSE, 1.98 lakh shares were traded on the counter so far as against the average daily volumes of 5.37 lakh shares in the past one quarter. The stock was volatile. The stock rose as much as 2.66% at the days high of Rs 55.90 so far during the day. The stock rose 0.09% at the days low of Rs 54.50 so far during the day.

The stock had hit a 52-week high of Rs 114 on 28 December 2015 and a 52-week low of Rs 48.40 on 22 November 2016. It had outperformed the market over the past one month till 23 December 2016, advancing 7.61% compared with the Sensexs 0.04% fall. The scrip had, however, underperformed the market in past one quarter, declining 10.44% as against Sensexs 9.17% fall.

The mid-cap company has equity capital of Rs 736.21 crore. Face value per share is Rs 10.

Valiant Mauritius Partners Offshore sold 68.82 lakh shares of Reliance Defence and Engineering (RDEL) at Rs 53.25 per share in a bulk deal on the BSE on Friday, 23 December 2016. Valiant Mauritius Partners offloaded 54.40 lakh shares at Rs 53.25 a piece. Morgan Stanley Mauritius Company bought the entire 1.23 crore shares in these deals.

Valiant Mauritius Partners owned 2.23% in RDEL end September 2016.

Reliance Defence and Engineering reported net loss of Rs 116.29 crore in Q2 September 2016, lower than net loss of Rs 170.49 crore in Q2 September 2015. Net sales rose 86.2% to Rs 96.85 crore in Q2 September 2016 over Q2 September 2015.

Reliance Defence and Engineering (formerly Pipavav Defence and Offshore Engineering Company) is into building defence warships.

Powered by Capital Market - Live News

ONGC slips on plan to buy GSPC stake in KG basin block
Dec 26,2016

The announcement was made after market hours on Friday, 23 December 2016.

Meanwhile, the BSE Sensex was down 218.93 points, or 0.84%, to 25,821.77.

On the BSE, so far 45,000 shares were traded in the counter, compared with average daily volumes of 6.74 lakh shares in the past one quarter. The stock had hit a high of Rs 192.30 and a low of Rs 189.05 so far during the day.

The stock hit a 52-week high of Rs 210.11 on 13 December 2016. The stock hit a 52-week low of Rs 125.40 on 12 February 2016. The stock had outperformed the market over the past 30 days till 23 December 2016, rising 4.19% compared with the 0.70% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 11.13% as against Sensexs 9.17% decline.

The large-cap company has equity capital of Rs 6416.62 crore. Face value per share is Rs 5.

ONGC announced that its board on Friday, 23 December 2016, considered the proposal and approved acquisition of the entire 80% participating interest (PI) of Gujarat State Petroleum Corporation (GSPC) along with operatorship rights, at a purchase consideration of $995.26 million for Deen Dayai West Field in Krishna Godavari (KG) Basin offshore.

ONGC and GSPC were engaged in discussions on a potential transaction for purchase by ONGC of GSPCs stake and operatorship in NELPn++III block in KG Basin offshore.

ONGC shall also pay part consideration of $200 million to GSPC towards future consideration for six discoveries other than Deen Dayai West Field, which will be adjusted upon valuation of the these discoveries subsequent to approval of their Field Development Plans by DGH/Management Committee of the block.

The transaction would be documented by signing a farm-in agreement with GSPC. Requisite approval from the Government will be sought by GSPC in accordance with provisions of production sharing contract of the block.

ONGCs net profit rose 6.3% to Rs 4974.92 crore on 10.3% decline in net sales to Rs 18286.62 crore in Q2 September 2016 over Q2 September 2015.

ONGC is Indias largest oil and gas exploration firm by sales.

Powered by Capital Market - Live News

Yes Bank drops in early trade
Dec 26,2016

Meanwhile, the S&P BSE Sensex was down 149.37 points or 0.57% at 25,891.33.

On the BSE, 4,352 shares were traded on the counter so far as against the average daily volumes of 2.43 lakh shares in the past one quarter. The stock had hit a high of Rs 1,124 and a low of Rs 1,110.55 so far during the day.

The stock had hit a record high of Rs 1,450 on 7 September 2016. The stock had hit a 52-week low of Rs 632.25 on 20 January 2016. It had underperformed the market over the past one month till 23 December 2016, sliding 0.09% compared with the Sensexs 0.04% fall. The scrip had, however, outperformed the market in past one quarter, declining 8.74% as against Sensexs 9.17% fall.

The large-cap private sector bank has equity capital of Rs 422.93 crore. Face value per share is Rs 10.

Yes announced that it has placed Rs 3000 crore of Basel III compliant Additional Tier-1 (AT1) bonds through private placement against the base issue size of Rs 2100 crore. The bonds will be listed on the BSE and its proceeds will qualify for Basel III Tier-I capital. The bonds carry a coupon rate of 9.5% per annum. The bonds have been rated as CARE AA (Stable Outlook) by CARE Ratings and IND AA (Stable Outlook) by India Ratings and Research (A Fitch Group Company). The announcement was made on Saturday, 24 December 2016.

Yes Banks net profit rose 31.3% to Rs 801.54 crore on 24.7% rise in total income to Rs 4982.23 crore in Q2 September 2016 over Q2 September 2015.

Yes Bank is one of the leading private sector banks in India.

Powered by Capital Market - Live News

Yes Bank shrugs off fund raising announcement
Dec 26,2016

Meanwhile, the S&P BSE Sensex was down 149.37 points or 0.57% at 25,891.33.

On the BSE, 4,352 shares were traded on the counter so far as against the average daily volumes of 2.43 lakh shares in the past one quarter. The stock had hit a high of Rs 1,124 and a low of Rs 1,110.55 so far during the day.

The stock had hit a record high of Rs 1,450 on 7 September 2016. The stock had hit a 52-week low of Rs 632.25 on 20 January 2016. It had underperformed the market over the past one month till 23 December 2016, sliding 0.09% compared with the Sensexs 0.04% fall. The scrip had, however, outperformed the market in past one quarter, declining 8.74% as against Sensexs 9.17% fall.

The large-cap private sector bank has equity capital of Rs 422.93 crore. Face value per share is Rs 10.

Yes announced that it has placed Rs 3000 crore of Basel III compliant Additional Tier-1 (AT1) bonds through private placement against the base issue size of Rs 2100 crore. The bonds will be listed on the BSE and its proceeds will qualify for Basel III Tier-I capital. The bonds carry a coupon rate of 9.5% per annum. The bonds have been rated as CARE AA (Stable Outlook) by CARE Ratings and IND AA (Stable Outlook) by India Ratings and Research (A Fitch Group Company). The announcement was made on Saturday, 24 December 2016.

Yes Banks net profit rose 31.3% to Rs 801.54 crore on 24.7% rise in total income to Rs 4982.23 crore in Q2 September 2016 over Q2 September 2015.

Yes Bank is one of the leading private sector banks in India.

Powered by Capital Market - Live News

Claris Lifesciences reverses recent fall on bargain hunting
Dec 23,2016

Meanwhile, the S&P BSE Sensex was up 61.10 points, or 0.24%, to 26,040.70

On the BSE, 2.78 lakh shares were traded on the counter so far as against the average daily volumes of 3.24 lakh shares in the past one quarter. The stock hit a high of Rs 333.60 and a low of Rs 315.50 so far during the day.

The stock hit a record high of Rs 430.10 on 16 December 2016. The stock hit a 52-week low of Rs 126.10 on 12 February 2016. The stock had outperformed the market over the past 30 days till 22 December 2016, rising 23.57% compared with the 0.28% fall in the Sensex. The scrip also outperformed the market in past one quarter, surging 40.88% as against Sensexs 9.38% decline.

The small-cap company has an equity capital of Rs 54.57 crore. Face value per share is Rs 10.

Claris Lifesciences consolidated net profit rose 169.92% to Rs 32.39 crore on 0.65% fall in net sales to Rs 192.13 crore in Q2 September 2016 over Q2 September 2015.

Claris Lifesciences is holding company of Claris Injectables, a wholly-owned subsidiary dealing in specialty injectables business. It is also the holding company of Claris Otsuka Private Limited, a joint venture with Japans Otsuka Pharmaceutical Factory, Inc. and Mitsui & Co. for Infusion business in India and emerging markets.

Powered by Capital Market - Live News

Cipla gains after receiving UK MHRA approval for Sereflo
Dec 23,2016

The announcement was made during trading hours today, 23 December 2016.

Meanwhile, the BSE Sensex was up 57.91 points, or 0.22%, to 26,037.51.

On the BSE, so far 2.56 lakh shares were traded in the counter, compared with average daily volumes of 1.34 lakh shares in the past one quarter. The stock had hit a high of Rs 588.90 and a low of Rs 552.55 so far during the day.

The stock hit a 52-week high of Rs 660 on 29 December 2015. The stock hit a 52-week low of Rs 458.25 on 25 May 2016. The stock had outperformed the market over the past 30 days till 22 December 2016, rising 1.45% compared with the 0.28% fall in the Sensex. The scrip had also outperformed the market in past one quarter, falling 8.34% as against Sensexs 9.38% decline.

The large-cap company has equity capital of Rs 160.88 crore. Face value per share is Rs 2.

Cipla said it yielded a final approval for its lead MDI product Fluticasone + Salmeterol (Sereflo) from UK MHRA (UK Medicines and Healthcare products Regulatory Agency) for its partner in the UK. Sercflo, 25 mcg/125 mcg & 25 mcg/250 mcg are generic equivalent to GlaxoSmithKlines Seretide inhalers and are indicated for Asthma treatment.

Seretide Inhaler, for the aforementioned strengths, had UK sales of approximately $278 million for the 12 month period ending June 2016, according to IMS Health. Ciplas Sereflo will be launched in the UK through a partner in the coming weeks.

On a consolidated basis, Ciplas net profit dropped 34.75% to Rs 354.34 crore on 8.66% rise in net sales to Rs 3671.88 crore in Q2 September 2016 over Q2 September 2015.

Cipla is a global pharmaceutical company. Its portfolio includes over 1000 products across wide range of therapeutic categories with one quality standard globally.

Powered by Capital Market - Live News

Centrum Capital hits 52-week high as promoters hike stake
Dec 23,2016

Meanwhile, the S&P BSE Sensex was up 50.05 points, or 0.19%, to 26,033.03

On the BSE, 5.84 lakh shares were traded on the counter so far as against the average daily volumes of 5.72 lakh shares in the past one quarter. The stock hit a high of Rs 32.60 in intraday trade so far, which is 52-week high for the counter. The stock hit a low of Rs 30 so far during the day.

The stock hit a 52-week low of Rs 9.75 on 5 April 2016. The stock had outperformed the market over the past 30 days till 22 December 2016, rising 6.52% compared with the 0.28% fall in the Sensex. The scrip also outperformed the market in past one quarter, falling 1.01% as against Sensexs 9.38% decline.

The small-cap financial services firm has an equity capital of Rs 41.60 crore. Face value per share is Re 1.

Centrum Capital said that JBCG Advisory Services has acquired 1.95 crore equity shares representing 4.7% of total equity of the company at Rs 25.08 per share in a block deal on the BSE yesterday, 22 December 2016. Indivision India Partners was seller to the tune of 2.05 crore shares at Rs 25 per share. Promoters held 32.25% stake in Centrum Capital (as per the shareholding pattern as on 30 September 2016).

Centrum Capital is a Sebi registered category I merchant banker. It has expertise across equity & debt spectrum with capabilities in equity capital markets, M&A advisory, corporate finance & advisory, primary & secondary debt placement, project finance and corporate debt restructuring. Its retail arm provides integrated solutions for private wealth management, portfolio management, stock broking and foreign exchange.

Powered by Capital Market - Live News

Sugar shares spurt after rise in sugar prices
Dec 23,2016

Oudh Sugar Mills (up 12.22%), Dwarikesh Sugar Industries (up 10.86%), Upper Ganges Sugar & Industries (up 9.99%), Rana Sugars (up 8.57%), Sakthi Sugars (up 7.47%), Simbhaoli Sugars (up 7.16%), Triveni Engineering & Industries (up 5.88%), DCM Shriram Industries (up 4.17%), Dhampur Sugar Mills (up 3.22%), Empee Sugars and Chemicals (up 2.75%), Balrampur Chini Mills (up 2.63%), KCP Sugar & Industries Corporation (up 2.33%), Shree Renuka Sugar (up 0.68%) and Bajaj Hindusthan Sugar (up 0.21%), edged higher. EID Parry (India) was down 0.78%.

The S&P BSE Sensex was up 55.43 points, or 0.21% at 26,035.03.

Raw Sugar futures dropped under 18 cents per pound last week before bouncing back above that levels this week. Conab, the Brazilian crop supply agency has noted that sugar prices are being helped by concerns of a global production deficit.

This rebound has also capped the losses for local sugar prices, which took a hit after the Demonetization drive. Medium Grade Sugar in Muzaffarnagar dropped from Rs 3780 per quintal to Rs 3630 per quintal in six week after the government banned high values notes on 8 November 2016. However, prices are up near Rs 3700 per quintal now. The commodity is up about 15% this year.

Meanwhile, according to the Indian Sugar Mills Association (ISMA), as on 15 December 2016, 440 sugar mills were crushing sugarcane for the year 2016-2017 SS, and they have produced 53.29 lakh tonnes of sugar till that date, i.e. 5.36 lakh tonnes, or 11%, higher than the sugar production on the corresponding date of previous sugar season, when same number of sugar mills were in operation and had produced 47.93 lakh tonnes of sugar.

Powered by Capital Market - Live News

Tata Steel inches up on plan to buy 100% equity of Brahmani River Pellets
Dec 23,2016

The announcement was made during trading hours today, 23 December 2016.

Meanwhile, the BSE Sensex was up 60.13 points, or 0.23%, to 26,039.73.

On the BSE, so far 4.24 lakh shares were traded in the counter, compared with average daily volumes of 7.82 lakh shares in the past one quarter. The stock had hit a high of Rs 395.60 and a low of Rs 387.05 so far during the day.

The stock hit a 52-week high of Rs 440.90 on 11 November 2016. The stock hit a 52-week low of Rs 211.30 on 12 February 2016. The stock had outperformed the market over the past 30 days till 22 December 2016, rising 0.01% compared with the 0.28% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 5.51% as against Sensexs 9.38% decline.

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

Tata Steel announces that it has executed definitive agreements to acquire 100% equity shares of Brahmani River Pellets (BRPL) from Aryan Mining and Trading Corporation (AMTC) and other companies in the Moorgate Industries Group (MIG). The transaction is based on an enterprise value of BRPL of Rs 900 crore plus closing adjustments and is subject to completion of certain condition precedents including regulatory approvals. The funding for the acquisition will be done from internal cash flows of Tata Steel.

BRPL was originally established by MIG (MIG was formed on demerger from Stemcor Group of companies as part of a UK court-approved restructuring in 2015), which continues to hold a significant stake in BRPL through its shareholding in AMTC. BRPL owns a 4 million tons per annum (MTPA) pellet plant in Jajpur, Odisha and 4.7 MTPA iron ore beneficiation plant in Barbu, Odisha connected through a 220 kilometre underground slurry pipeline.

Koushik Chatterjee, group executive director (finance & corporate) and member ofthe Tata Steel board, said that the location of the BRPL assets makes this very strategic toTata Steel especially to its Kalinganagar operations and has significant operatingsynergies to make the Kalinganagar plant even more competitive for the future. The ironore from the companys captive mine in the Joda and Khondbond region will get transferred in future through the slurry pipeline and reduce freight costs significantly apart from the 4 mtpa pellet plant and other infrastructure which will enhance the operating efficiency and reduce costs of blast furnace operations in Kalinganagar. To build a similar facility would have taken significant time and costs and therefore, this acquisition is very timely as the company is looking to ramp up the capacity of the Phase I at Kalinganagar. This is also ademonstration of the companys commitment to the state and people of Odisha.

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 Group stands among the top global steel companies with an annual crude steel capacity of 28 million tonnes per annum (MnTPA) and a turnover of $17.69billion in the year ended March 2016. It is the worlds second-most geographically-diversified steel producer, with operations in 26 countries and commercial presence in over 50 countries.

Powered by Capital Market - Live News