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Bhushan Steel gains after announcing capacity expansion
Jul 05,2016

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

Meanwhile, the S&P BSE Sensex was down 77.33 points or 0.28% at 27,202.32

On BSE, so far 81,000 shares were traded in the counter as against average daily volume of 1.04 lakh shares in the past one quarter. The stock hit a high of Rs 43.45 and a low of Rs 42.30 so far during the day. The stock had hit a 52-week high of Rs 75.50 on 10 July 2015. The stock had hit a 52-week low of Rs 32.50 on 12 February 2016. The stock had outperformed the market over the past 30 days till 4 July 2016, advancing 20.11% compared with Sensexs 1.62% rise. The scrip also outperformed the market in past one quarter, rising 13.52% as against Sensexs 9.63% gain.

The small-cap company has equity capital of Rs 45.30 crore. Face value per share is Rs 2.

Bhushan Steel said that the company is taking shut down of its hot strip mill situated at district Dhenkanal, Orissa, for about 20 days for capacity addition from 4 million tonne per annum (mtpa) to 5 mtpa.

Bhushan Steel reported net loss of Rs 670.47 crore in Q4 March 2016, higher than net loss of Rs 360.77 crore in Q4 March 2015. Net sales rose 29.49% to Rs 3031.30 crore in Q4 March 2016 over Q4 March 2015.

Bhushan Steel is a manufacturer of cold rolled steel coils, hardened and tempered strips, galvanised and electrical steel strips.

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Pokarna, Mold-Tek Technologies, Compuage Infocom surge ahead of NSE debut
Jul 05,2016

Mold-Tek Technologies (up 5%), Compuage Infocom (up 2.78%) and Pokarna (up 2.48%),

The S&P BSE Sensex was down 93.87 points, or 0.34% at 27,184.89.

The National Stock Exchange of India (NSE) granted its approval for listing shares of Pokarna, Mold-Tek Technologies and Compuage Infocom from Thursday, 7 July 2016.

Pokarna is engaged in the mining of granite, processing and sale of granite slabs.

Mold-Tek Technologies is a leading engineering services provider in India, with core expertise in automotive, poles & towers and oil & gas domains.

Compuage Infocom is an information technology (IT) distribution company.

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IDBI Bank gains after announcing reduction in MCLR
Jul 05,2016

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

Meanwhile, the BSE Sensex was down 24.02 points, or 0.09%, to 27,254.74

On BSE, so far 4.64 lakh shares were traded in the counter compared with average daily volume of 6.48 lakh shares in the past one quarter. The stock hit a high of Rs 77.45 and a low of Rs 75.55 so far during the day. The stock had outperformed the market over the past 30 days till 4 July 2016, advancing 17.3% compared with Sensexs 1.62% rise. The scrip also outperformed the market in past one quarter, rising 10.5% as against Sensexs 9.63% gain.

The large-cap bank has an equity capital of Rs 2058.82 crore. Face value per share is Rs 10.

IDBI Banks Marginal Cost of Funds based Lending Rate (MCLR) effective from 1 July 2016 for overnight loans will be 8.60%, for one month will be 9% and for three months will be 9.15%. The MCLR on 6-month loans will be 9.25% and for one-year loans the rate would be 9.30%, IDBI Bank said. MCLR for two-year loans would be at 9.55% and loans with three-year maturity would carry an MCLR of 9.70%, the bank said.

IDBI Banks Marginal Cost of Funds based Lending Rate (MCLR) for overnight loans effective from 1 April 2016 were 8.85%, for one month were 9.25% and for three months were 9.35%. The MCLR on 6-month loans were 9.4% and for one-year loans the rate were 9.45%, IDBI Bank said. MCLR for two-year loans were 9.75% and MCLR for loans with three-year maturity were 9.9%, the bank said.

The Government of India held 73.98% stake in IDBI Bank (as per the shareholding pattern as on 31 March 2016).

IDBI Bank reported net loss of Rs 1735.81 crore in Q4 March 2016 as against net profit of Rs 545.94 crore in Q4 March 2015. Total income fell 11.81% to Rs 8274.58 crore in Q4 March 2016 over Q4 March 2015.

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IDBI Bank stock shrugs off reduction in lending rates
Jul 05,2016

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

Meanwhile, the BSE Sensex was down 24.02 points, or 0.09%, to 27,254.74

On BSE, so far 4.64 lakh shares were traded in the counter compared with average daily volume of 6.48 lakh shares in the past one quarter. The stock hit a high of Rs 77.45 and a low of Rs 75.55 so far during the day. The stock hit a 52-week high of Rs 95.70 on 3 December 2015. The stock hit a 52-week low of Rs 47.40 on 12 February 2016. The stock had outperformed the market over the past 30 days till 4 July 2016, advancing 17.3% compared with Sensexs 1.62% rise. The scrip also outperformed the market in past one quarter, rising 10.5% as against Sensexs 9.63% gain.

The large-cap state-run bank has equity capital of Rs 2058.82 crore. Face value per share is Rs 10.

IDBI Banks Marginal Cost of Funds based Lending Rate (MCLR) effective from 1 July 2016 for overnight loans will be 8.60%. For one month, the rate will be 9% and for three months it will be 9.15%. The MCLR on 6-month loans will be 9.25% and for one-year loans the rate would be 9.30%. MCLR for two-year loans would be at 9.55% and loans with three-year maturity would carry an MCLR of 9.70%. All rupee loans sanctioned and credit limits renewed with effect from 1 April 2016 are priced with reference to the Marginal Cost of Funds based Lending Rate (MCLR) which is the internal benchmark of the concerned bank. Actual lending rates are determined by adding the components of spread to the MCLR.

IDBI Bank reported net loss of Rs 1735.81 crore in Q4 March 2016 as against net profit of Rs 545.94 crore in Q4 March 2015. Total income fell 11.81% to Rs 8274.58 crore in Q4 March 2016 over Q4 March 2015.

The Government of India currently holds 73.98% stake in IDBI Bank (as per the shareholding pattern as on 31 March 2016).

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L&T gains after winning export orders
Jul 05,2016

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

Meanwhile, the BSE Sensex was down 39.48 points, or 0.14%, to 27,239.28.

On BSE, so far 62,000 shares were traded in the counter compared with average daily volume of 2.07 lakh shares in the past one quarter. The stock hit a high of Rs 1,575 and a low of Rs 1,555.95 so far during the day. The stock hit a 52-week high of Rs 1,886.25 on 17 July 2015. The stock hit a 52-week low of Rs 1,016.60 on 12 February 2016. The stock had outperformed the market over the past 30 days till 4 July 2016, rising 7.13% compared with 1.62% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 30.98% as against Sensexs 9.63% rise.

The large-cap company has an equity capital of Rs 186.40 crore. Face value per share is Rs 2.

L&T through its joint venture companies L&T-MHPS Boilers (LMB) and L&T-MHPS Turbine Generators (LMTG) has secured export orders worth a combined $71.30 million from Mitsubishi Hitachi Power Systems (MHPS). LMB contract includes supply of pressure parts for a power generation plant in Indonesia and contains furnace header, panel, coils and piping. LMB is currently executing nine export orders for the supply of pulverisers and pressure parts for various MHPS projects in Japan and Indonesia. LMB has already executed eight MHPS export orders for the supply of pressure parts, pulverisers and engineering services to Middle East, Africa and South East Asia.

L&T holds the majority 51% stake in LMB. Mitsubishi Hitachi Power Systems, Japan owns 49% stake in the joint venture. LMB has its manufacturing facility at Hazira, Gujarat, for the manufacture of pressure parts and coal pulverisers for supercritical steam generators having capacity of 5,000 MW per annum.

LMTG contract includes supply of turbines for the same power generation plant in Indonesia plant. After having manufactured the first 800 megawatts (MW) steam turbine in India, LMTG has this opportunity to execute 1,000 MW supercritical steam turbines order. The latest order takes LMTGs tally of export orders to 22 units out of which 11 are presently being executed.

LMTG is a joint venture company of L&T, Mitsubishi Hitachi Power Systems and Mitsubishi Electric Corp. with scope for engineering, design, manufacturing, supervision of erection and commissioning of supercritical/ultra-supercritical turbines and generators. LMTG manufactures these equipment in its world class factory at Hazira with an annual capacity of 4,000 MW.

L&Ts consolidated net profit rose 18.6% to Rs 2453.64 crore on 18.51% rise in net sales to Rs 32812.24 crore in Q4 March 2016 over Q4 March 2015.

L&T is a major Indian multinational engaged in technology, engineering, construction, manufacturing and financial services. It operates in more than 30 countries worldwide.

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Jaiprakash Associates surges after Ultra Tech Cement buys cement assets
Jul 05,2016

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

Meanwhile, the BSE Sensex was down 20.24 points, or 0.07%, to 27,258.52.

On BSE, so far 1.24 crore shares were traded in the counter, compared with average daily volume of 53.35 lakh shares in the past one quarter. The stock hit a high of Rs 11.17 and a low of Rs 9.80 so far during the day. The stock hit a 52-week high of Rs 14.90 on 16 October 2015. The stock hit a record low of Rs 5.30 on 2 June 2016. The stock had outperformed the market over the past 30 days till 4 July 2016, rising 61.85% compared with 1.62% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 15.08% as against Sensexs 9.63% rise.

The small-cap company has an equity capital of Rs 486.49 crore. Face value per share is Rs 2.

The board of directors of Jaiprakash Associates (JAL) approved an amendment to the definitive agreement dated 31 March 2016 and also the draft scheme of arrangement with Ultra Tech Cement (UTCL) for sale of cement business of JAL and its wholly-owned subsidiary, Jaypee Cement Corporation (JCCL) comprising identified operating cement plants with an aggregate capacity of 17.20 MTPA spread over the states of Uttar Pradesh, Madhya Pradesh, Himachal Pradesh, Uttarakhand and Andhra Pradesh besides a grinding unit of 4 MTPA capacity which is currently under implementation in Uttar Pradesh. The total enterprise value now agreed is Rs 16189 crore. An additional amount of Rs 470 crore shall be paid by UTCL for completion of the grinding unit under implementation.

The transaction is subject to various regulatory approvals including the approval of stock exchanges, Competition Commission of India, financial institutions & banks, shareholders & creditors and sanction of the scheme of arrangement by High Courts at Mumbai and Allahabad. The consummation of transaction is expected to take 9 to 12 months.

On this occasion, 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. He added that post this deal, Jaypee Group shall retain an aggregate cement manufacturing capacity of 10.60 MTPA with plants spread in the states of Madhya Pradesh, Uttar Pradesh, Andhra Pradesh and Karnataka. The group would continue to leverage expertise in the fields of engineering & construction, real estate and project execution in a committed manner.

After the consummation, UTCLs cement cement capacity will stand augmented to 91.1 MTPA, including its overseas operations. Shares of UTCL were up 0.33% at Rs 3,422.05.

Meanwhile, JAL announced on Saturday, 2 June 2016, that the joint lenders forum meeting held to review the progress made so far on the corrective action plan, approved by the lenders in January 2015, agreed for invocation of strategic debt restructuring (SDR) taking 28 June 2016 as reference date, subject to approval of lenders.

Jaiprakash Associates reported net loss of Rs 1387.30 crore in Q4 March 2016 as against net loss of Rs 858.07 crore in Q4 March 2015. Net sales declined 25.69% to Rs 1893.94 crore in Q4 March 2016 over Q4 March 2015.

Jaiprakash Associates is the flagship company of the Jaypee group and is engaged in engineering and construction, cement, real estate and hospitality businesses.

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Jaiprakash Associates soars after announcing revised deal for selling some cement units to UltraTech
Jul 05,2016

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

Meanwhile, the BSE Sensex was down 20.24 points, or 0.07%, to 27,258.52.

On BSE, so far 1.24 crore shares were traded in the counter compared with average daily volume of 53.35 lakh shares in the past one quarter. The stock hit a high of Rs 11.17 and a low of Rs 9.80 so far during the day. The stock hit a 52-week high of Rs 14.90 on 16 October 2015. The stock hit a record low of Rs 5.30 on 2 June 2016. The stock had outperformed the market over the past 30 days till 4 July 2016, rising 61.85% compared with 1.62% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 15.08% as against Sensexs 9.63% rise.

The small-cap company has an equity capital of Rs 486.49 crore. Face value per share is Rs 2.

The board of directors of Jaiprakash Associates (JAL) approved an amendment to the definitive agreement dated 31 March 2016 and also the draft scheme of arrangement with UltraTech Cement (UTCL) for sale of cement business of JAL and its wholly-owned subsidiary, Jaypee Cement Corporation (JCCL). JAL and JCCL will together sell identified operating cement plants with an aggregate capacity of 17.20 million tonnes per annum (MTPA) spread over the states of Uttar Pradesh, Madhya Pradesh, Himachal Pradesh, Uttarakhand and Andhra Pradesh and a cement grinding unit of 4 MTPA capacity which is currently under implementation in Uttar Pradesh. An additional amount of Rs 470 crore will be paid by UTCL to JAL for completion of the grinding unit under implementation.

The transaction is subject to various regulatory approvals including the approval of stock exchanges, Competition Commission of India, financial institutions and banks, shareholders and creditors and sanction of the scheme of arrangement by High Courts at Mumbai and Allahabad. The consummation of the transaction is expected to take 9 to 12 months.

Commenting on the divestment, 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. He added that post this deal, Jaypee Group will retain an aggregate cement manufacturing capacity of 10.60 MTPA with plants spread in the states of Madhya Pradesh, Uttar Pradesh, Andhra Pradesh and Karnataka. The Group would continue to leverage expertise in the fields of engineering & construction, real estate and project execution in a committed manner.

Shares of UTCL were up 0.33% at Rs 3,422.05. After the consummation, UTCLs cement capacity will stand augmented to 91.1 MTPA, including its overseas operations.

Jaiprakash Associates reported net loss of Rs 1387.30 crore in Q4 March 2016, higher than net loss of Rs 858.07 crore in Q4 March 2015. Net sales declined 25.69% to Rs 1893.94 crore in Q4 March 2016 over Q4 March 2015.

Jaiprakash Associates is the flagship company of the Jaypee group and is engaged in engineering and construction, cement, real estate and hospitality businesses.

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Techno Electric & Engineering scales record high as board to consider bonus issue
Jul 05,2016

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

Meanwhile, the BSE Sensex was down 30.05 points , or 0.11%, to 27,248.71

On BSE, so far 4,978 shares were traded in the counter compared with average daily volume of 2,332 shares in the past one quarter. The stock hit a high of Rs 630 so far during the day which is a record high for the counter. The stock hit a low of Rs 600 so far during the day. The stock hit a 52-week low of Rs 418.10 on 29 February 2016.

The mid-cap company has an equity capital of Rs 11.42 crore. Face value per share is Rs 2.

On a consolidated basis, Techno Electric & Engineering Companys net profit rose 25.12% to Rs 28.39 crore on 47.45% rise in net sales to Rs 325.80 crore in Q4 March 2016 over Q4 March 2015.

Techno Electric & Engineering Company provides high quality engineering, procurement and construction services to Indias core sector industries, both in the public and private domain.

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Grasim Ind gains after resuming operations at Nagda plant
Jul 05,2016

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

Meanwhile, the BSE Sensex was down 20.43 points, or 0.07%, to 27,258.33.

On BSE, so far 110 shares were traded in the counter, compared with average daily volume of 8,192 shares in the past one quarter. The stock hit a high of Rs 4,609.10 and a low of Rs 4,599.95 so far during the day. The stock hit a record high of Rs 4,675.60 on 1 July 2016. The stock hit a 52-week low of Rs 3,242.05 on 26 February 2016. The stock had outperformed the market over the past 30 days till 4 July 2016, rising 6.46% compared with 1.62% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 19.55% as against Sensexs 9.63% rise.

The large-cap company has an equity capital of Rs 93.35 crore. Face value per share is Rs 10.

Grasim Industries had suspended production at the plant since 5 June 2016 due to water shortage. However, the availability of water has improved with the onset of monsoon, the company said.

On a consolidated basis, Grasim Industries net profit rose 37.38% to Rs 696.09 crore on 13.69% rise in net sales to Rs 9896.43 crore in Q4 March 2016 over Q4 March 2015.

Grasim Industries two main businesses are Viscose Staple Fibre (VSF) and cement.

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Asian Granito gains after new product launch
Jul 04,2016

The announcement was made during market hours today, 4 July 2016.

Meanwhile, the S&P BSE Sensex was up 123.76 points or 0.46% at 27,268.67

On BSE, so far 19,000 shares were traded in the counter as against average daily volume of 33,753 shares in the past one quarter. The stock hit a high of Rs 195 and a low of Rs 189.60 so far during the day. The stock hit a 52-week high of Rs 199.75 on 8 June 2016. The stock had hit a 52-week low of Rs 83 on 9 September 2015. The stock had outperformed the market over the past 30 days till 1 July 2016, rising 10.55% compared with 1.12% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 26.12% as against Sensexs 7.42% rise.

The small-cap company has equity capital of Rs 22.58 crore. Face value per share is Rs 10.

Asian Granito India said that the board of directors of the company has announced launch of Premium Grestek, glazed vitrified tiles and Grestek Marvel, premium color body tiles for wall and floor. These products are fresh in the segment with touch of Italian choices, Asian Granito India said. It consists of natural wood patterns, natural stone designs, metallic and special effect surfaces with color and decor options, the company said.

Asian Granito Indias net profit rose 30.3% to Rs 5.67 crore on 4.6% decline in net sales to Rs 225.75 crore in Q4 March 2016 over Q4 March 2015.

Asian Granito India is one of the leading growing ceramic, vitrified tile, marble and quartz companies.

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SBI gains after reducing stake in NSE
Jul 04,2016

Meanwhile, the BSE Sensex was up 130.57 points, or 0.48%, to 27,275.48.

On BSE, so far 15.11 lakh shares were traded in the counter, compared with average daily volume of 27.45 lakh shares in the past one quarter. The stock hit a high of Rs 224.40 and a low of Rs 221.65 so far during the day. The stock hit a 52-week high of Rs 291.85 on 5 August 2015. The stock hit a 52-week low of Rs 148.30 on 12 February 2016. The stock had outperformed the market over the past 30 days till 1 July 2016, rising 9.52% compared with 1.12% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 12.24% as against Sensexs 7.42% rise.

The large-cap state-run bank has an equity capital of Rs 776.28 crore. Face value per share is Re 1.

State Bank of India (SBI) announced after market hours on Friday, 1 July 2016, that it sold 5% stake in National Stock Exchange of India (NSE) to Mauritius-based foreign institutional investor Veracity Investments at Rs 4,050 per share. Post this transaction, SBI holds 5.19% stake in NSE while its subsidiary SBI Capital Markets holds another 4.33% in the NSE.

Meanwhile, SBI and Reliance Industries (RIL) signed shareholders agreement on 30 June 2016 for setting up payments bank. RIL will hold a majority 70% stake and SBI as joint venture partner will hold 30% equity stake in the proposed payments bank. All requisite regulatory and statutory approvals will now be sought for operationalizing the payments bank. The announcement was made after market hours on Friday, 1 July 2016.

SBIs net profit fell 66.2% to Rs 1263.81 crore on 10.1% increase in total income to Rs 53526.97 crore in Q4 March 2016 over Q4 March 2015.

SBI is Indias biggest bank in terms of branch network. The Government of India currently holds 60.18% stake in SBI (as per the shareholding pattern as on 31 March 2016).

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Carborundum Universal gains after bulk deal
Jul 04,2016

Meanwhile, the BSE Sensex was up 149.31 points, or 0.55%, to 27,294.22

Bulk deal boosted volume on the scrip. On BSE, so far 10.08 lakh shares were traded in the counter, compared with average daily volume of 15,592 shares in the past one quarter. The stock hit a high of Rs 259.95 so far during the day which is a record high for stock. The stock hit a low of Rs 241.50 so far during the day. The stock hit a 52-week low of Rs 154 on 1 October 2015. The stock had outperformed the market over the past 30 days till 1 July 2016, rising 7.82% compared with 1.12% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 40.76% as against Sensexs 7.42% rise.

The mid-cap company has an equity capital of Rs 18.84 crore. Face value per share is Re 1.

On a consolidated basis, Carborundum Universals net profit declined 39.84% to Rs 39.74 crore on 13.59% rise in net sales to Rs 528.38 crore in Q4 March 2016 over Q4 March 2015.

Carborundum Universal manufactures and sells abrasives, ceramics (industrial ceramics and refractories) and electrominerals.

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Aviation stocks take off as Govt announces draft regional air connectivity scheme
Jul 04,2016

InterGlobe Aviation (up 3.68%), Jet Airways India (up 3.56%) and SpiceJet (up 2.95%), edged higher.

The S&P BSE Sensex was up 137.86 points, or 0.51% at 27,282.77.

To operationalise the Regional Air Connectivity Scheme (RCS), aircraft and helicopter operators would be required to assess the demand on various routes and submit their proposal for providing connectivity on such routes. They would be required to earmark certain number of seats on every flight for the RCS. The fare for such seats would be capped based on flight distance and time. An index has also been prepared for airfare caps for the RCS seats for fixed wing aircrafts and helicopters depending upon the distance.

Airport Authority of India (AAI) will be the implementing agency for the scheme. The RCS route will have to include un-served airports i.e. airports where there is no scheduled commercial flight or under-served airports i.e. airports which have 7 or less scheduled commercial flights per week. The RCS routes would cover a length between 200 to 800 kilometre. This criteria will not apply to hilly areas, islands, North-east region and for helicopter operations.

The procedure for selecting airline operators would be based on reverse bidding mechanism. The selected airlines would be expected to commit 50% of the seats on RCS flights to be sold at the specified airfare cap. They would also be required to maintain a frequency of minimum, three flights per week and maximum seven flights per week. A Regional Connectivity Fund would be created to subsidise the operation of the RCS.

The central government will support the RCS scheme by levying an excise duty of only 2% on aviation turbine fuel (ATF) purchased at RCS airports for a period of three years. The service tax will be levied at only 10% of the taxable value of tickets for RCS seats for a period of one year. The operating airline will be free to enter into code sharing arrangement with domestic and international airlines.

The concerned state governments will charge value added tax (Vat) of 1% or less on ATF at RCS airports for a period of 10 years. It will also provide security and fire services free of cost, besides providing electricity, water and other utility services at concessional rates.

The draft RCS will be placed in public domain for three weeks to enable stakeholders to give their suggestions. After this the details of the scheme would be finalized.

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Volumes jump at Sunteck Realty counter
Jul 04,2016

Sunteck Realty notched up volume of 18.36 lakh shares by 14:02 IST on BSE, a 87.94-fold surge over two-week average daily volume of 21,000 shares. The stock dropped 8.3% at Rs 233.

Carborundum Universal clocked volume of 9.90 lakh shares, a 52.18-times surge over two-week average daily volume of 19,000 shares. The stock rose 4.45% at Rs 252.15.

Manpasand Beverages saw volume of 2.09 lakh shares, a 7.3-fold surge over two-week average daily volume of 29,000 shares. The stock gained 3.25% at Rs 584.60.

Praj Industries clocked volume of 17.24 lakh shares, a 6.7-fold surge over two-week average daily volume of 2.57 lakh shares. The stock surged 5.07% at Rs 101.50.

D B Realty saw volume of 9.59 lakh shares, a 4.65-fold rise over two-week average daily volume of 2.06 lakh shares. The stock jumped 13.7% at Rs 59.35.

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Reliance Power gains as SC does not stay APTEL order
Jul 04,2016

Meanwhile, the BSE Sensex was up 165.74 points, or 0.61%, to 27,310.65

On BSE, so far 5.57 lakh shares were traded in the counter, compared with an average daily volume of 7.04 lakh shares in the past one quarter. The stock hit a high of Rs 53.30 and a low of Rs 51.70 so far during the day. The stock hit a 52-week high of Rs 61.40 on 12 January 2016. The stock hit a 52-week low of Rs 33.05 on 25 August 2015. The stock had underperformed the market over the past 30 days till 1 July 2016, rising 0.10% compared with 1.12% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 2.69% as against Sensexs 7.42% 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 today, 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.

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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