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Metal and mining stocks rise as Cabinet approves National Mineral Exploration Policy
Jun 30,2016

JSW Steel (up 0.17%), Bhushan Steel (up 5.24%), Vedanta (up 1.38%), Hindalco Industries (up 1.5%), Hindustan Zinc (up 1.78%), Jindal Steel & Power (up 0.17%), Tata Steel (up 1.47%), Steel Authority of India (Sail) (up 1.6%), National Aluminum Company (up 0.59%) and NMDC (up 1.18%) gained. Hindustan Copper fell 1.01%.

Meanwhile, the S&P BSE Metal index was up 72.23 points or 0.86% at 8,446.25. It outperformed the Sensex which was up 200.67 points or 0.75% at 26,941.06

The BSE Metal index index had outperformed the market over the past 30 days till 29 June 2016, rising 5.33% compared with Sensexs 0.27% gains. The index had also outperformed the market in past one quarter, advancing 11.05% as against Sensexs 5.52% rise.

The National Mineral Exploration Policy (NMEP) primarily aims at accelerating the exploration activity in the country through enhanced participation of the private sector.

Meanwhile, copper prices rose in global commodities markets. High Grade Copper for September 2016 delivery was currently up 0.39% at $2.1945 per pound on the COMEX.

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Auto stocks advance post Cabinets approval for 7th Pay Commissions recommendations
Jun 30,2016

The announcement by the Government was made during market hours yesterday, 29 June 2016.

Meanwhile, the BSE Sensex was up 243.34 points, or 0.91%, to 26,983.73.

Hero MotoCorp (up 2.15%), Tata Motors (up 2.94%), Maruti Suzuki (India) (up 0.82%), Escorts (up 0.88%), TVS Motor Company (up 3.67%), Bajaj Auto (up 1.56%), Mahindra & Mahindra (up 0.8%), Ashok Leyland (up 0.66%) and Eicher Motors (up 0.72%) edged higher.

Investors are betting that increase in salaries and payment of arrears to government employees due to the implementation of the 7th Pay Commission recommendations will boost consumer spending and lift demand for two-wheelers and passenger vehicles.

The BSE Auto index had outperformed the market over the past 30 days till 29 June 2016, rising 4.06% compared with Sensexs 0.33% gains. The index had also outperformed the market in past one quarter, advancing 9.84% as against Sensexs 7.39% rise.

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi approved the implementation of the recommendations of 7th Central Pay Commission (CPC) on pay and pensionary benefits. It will come into effect from 1 January 2016.

The Cabinet has decided that arrears of pay and pensionary benefits will be paid during the current financial year ending 31 March 2017 (FY 2017) itself, unlike in the past when parts of arrears were paid in the next financial year. The recommendations will benefit over 1 crore employees. This includes over 47 lakh central government employees and 53 lakh pensioners, of which 14 lakh employees and 18 lakh pensioners are from the defence forces. As estimated by the 7th CPC, the additional financial impact on account of implementation of all its recommendations in FY 2017 will be Rs 1.02 lakh crore. There will be an additional implication of Rs 12133 crore on account of payments of arrears of pay and pension for two months of FY 2016.

The present system of Pay Bands and Grade Pay has been dispensed with and a new Pay Matrix as recommended by the Commission has been approved. The status of the employee, hitherto determined by grade pay, will now be determined by the level in the Pay Matrix. Separate Pay Matrices have been drawn up for Civilians, Defence Personnel and for Military Nursing Service. The principle and rationale behind these matrices are the same.

All existing levels have been subsumed in the new structure; no new levels have been introduced nor has any level been dispensed with. Index of Rationalisation has been approved for arriving at minimum pay in each Level of the Pay Matrix depending upon the increasing role, responsibility and accountability at each step in the hierarchy. The minimum pay has been increased from Rs 7000 to Rs 18000 per month. Starting salary of a newly recruited employee at lowest level will now be Rs 18000 whereas for a freshly recruited Class I officer, it will be Rs 56100.

For the purpose of revision of pay and pension, a fitment factor of 2.57 will be applied across all Levels in the Pay Matrices. Rate of increment has been retained at 3%. This will benefit the employees in future on account of higher basic pay as the annual increments that they earn in future will be 2.57 times than at present.

The Cabinet approved further improvements in the Defence Pay Matrix by enhancing Index of Rationalisation for Level 13A (Brigadier) and providing for additional stages in Level 12A (Lieutenant Colonel), 13 (Colonel) and 13A (Brigadier) in order to bring parity with Combined Armed Police Forces (CAPF) counterparts at the maximum of the respective Levels. Gratuity ceiling enhanced from Rs 10 to 20 lakh. The ceiling on gratuity will increase by 25% whenever dearness allowance (DA) rises by 50%. Rates of Military Service Pay revised from Rs 1000, 2000, 4200 & 6000 to 3600, 5200, 10800 & 15500 respectively for various categories of Defence Forces personnel.

The Cabinet also approved the recommendation of the Commission to enhance the ceiling of House Building Advance from Rs 7.50 lakh to 25 lakh. The Cabinet also decided not to accept the steep hike in monthly contribution towards Central Government Employees Group Insurance Scheme (CGEGIS) recommended by the Commission. The existing rates of monthly contribution will continue. This will increase the take home salary of employees at lower levels by Rs 1470.

The general recommendations of the Commission on pension and related benefits have been approved by the Cabinet. Both the options recommended by the Commission as regards pension revision have been accepted subject to feasibility of their implementation. The Cabinet also decided to constitute two separate Committees to suggest measures for streamlining the implementation of National Pension System (NPS) and to look into anomalies likely to arise out of implementation of the Commissions Report.

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Realty stocks extend gains
Jun 30,2016

The announcement was made during market hours yesterday, 29 June 2016.

Meanwhile, the BSE Sensex was up 236.35 points, or 0.88%, to 26,976.74.

Unitech (up 1.11%), Sobha (up 1.68%), Housing Development and Infrastructure (HDIL) (up 1.96%), D B Realty (up 2.06%), Indiabulls Real Estate (up 1.41%), Godrej Properties (up 0.85%), Phoenix Mills (up 0.03%), Prestige Estates Projects (up 0.71%), and Oberoi Realty (up 1.15%), edged higher.

Realty shares extended previous sessions gains on expectations that demand for new homes will rise as a result of the increase in salaries and payment of arrears to government employees due to the implementation of the 7th Pay Commission recommendations.

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi approved the implementation of the recommendations of 7th Central Pay Commission (CPC) on pay and pensionary benefits. It will come into effect from 1 January 2016.

The Cabinet has decided that arrears of pay and pensionary benefits will be paid during the current financial year ending 31 March 2017 (FY 2017) itself, unlike in the past when parts of arrears were paid in the next financial year. The recommendations will benefit over 1 crore employees. This includes over 47 lakh central government employees and 53 lakh pensioners, of which 14 lakh employees and 18 lakh pensioners are from the defence forces. As estimated by the 7th CPC, the additional financial impact on account of implementation of all its recommendations in FY 2017 will be Rs 1.02 lakh crore. There will be an additional implication of Rs 12133 crore on account of payments of arrears of pay and pension for two months of FY 2016.

The present system of Pay Bands and Grade Pay has been dispensed with and a new Pay Matrix as recommended by the Commission has been approved. The status of the employee, hitherto determined by grade pay, will now be determined by the level in the Pay Matrix. Separate Pay Matrices have been drawn up for Civilians, Defence Personnel and for Military Nursing Service. The principle and rationale behind these matrices are the same.

All existing levels have been subsumed in the new structure; no new levels have been introduced nor has any level been dispensed with. Index of Rationalisation has been approved for arriving at minimum pay in each Level of the Pay Matrix depending upon the increasing role, responsibility and accountability at each step in the hierarchy. The minimum pay has been increased from Rs 7000 to Rs 18000 per month. Starting salary of a newly recruited employee at lowest level will now be Rs 18000 whereas for a freshly recruited Class I officer, it will be Rs 56100.

For the purpose of revision of pay and pension, a fitment factor of 2.57 will be applied across all Levels in the Pay Matrices. Rate of increment has been retained at 3%. This will benefit the employees in future on account of higher basic pay as the annual increments that they earn in future will be 2.57 times than at present.

The Cabinet approved further improvements in the Defence Pay Matrix by enhancing Index of Rationalisation for Level 13A (Brigadier) and providing for additional stages in Level 12A (Lieutenant Colonel), 13 (Colonel) and 13A (Brigadier) in order to bring parity with Combined Armed Police Forces (CAPF) counterparts at the maximum of the respective Levels. Gratuity ceiling enhanced from Rs 10 to 20 lakh. The ceiling on gratuity will increase by 25% whenever dearness allowance (DA) rises by 50%. Rates of Military Service Pay revised from Rs 1000, 2000, 4200 & 6000 to 3600, 5200, 10800 & 15500 respectively for various categories of Defence Forces personnel.

The Cabinet also approved the recommendation of the Commission to enhance the ceiling of House Building Advance from Rs 7.50 lakh to 25 lakh. The Cabinet also decided not to accept the steep hike in monthly contribution towards Central Government Employees Group Insurance Scheme (CGEGIS) recommended by the Commission. The existing rates of monthly contribution will continue. This will increase the take home salary of employees at lower levels by Rs 1470. However, considering the need for social security of employees, the Cabinet has asked Ministry of Finance to work out a customized group insurance scheme for Central Government Employees with low premium and high risk cover.

The general recommendations of the Commission on pension and related benefits have been approved by the Cabinet. Both the options recommended by the Commission as regards pension revision have been accepted subject to feasibility of their implementation. The Cabinet also decided to constitute two separate Committees to suggest measures for streamlining the implementation of National Pension System (NPS) and to look into anomalies likely to arise out of implementation of the Commissions Report.

The BSE Realty index had outperformed the market over the past 30 days till 29 June 2016, rising 5.18% compared with Sensexs 0.33% gains. The index had also outperformed the market in past one quarter, advancing 26.88% as against Sensexs 7.39% rise.

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Minda Industries gains after securing board approval for stock-split
Jun 30,2016

The announcement was made after market hours yesterday, 29 June 2016.

Meanwhile, the BSE Sensex was up 225.68 points, or 0.84%, to 26,966.07

On BSE, so far 7,614 shares were traded in the counter, compared with an average volume of 3,011 shares in the past one quarter. The stock hit a high of Rs 1,230 and low of Rs 1,186.45 so far during the day. The stock hit a record high of Rs 1,249 on 23 May 2016. The stock hit a 52-week low of Rs 475 on 8 September 2015.

The small-cap company has an equity capital of Rs 15.87 crore. Face value per share is Rs 10.

Minda Industries consolidated net profit jumped 181.48% to Rs 42.56 crore on 30.14% rise in total income to Rs 721.73 crore in Q4 March 2016 over Q4 March 2015.

Minda Industries is part of UNO Minda. UNO Minda is a technology leader in auto components industry and a leading Tier 1 supplier of proprietary automotive solutions to original equipment manufacturers (OEM)s.

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Coal India gains after signing agreement with Solar Energy Corporation
Jun 30,2016

The announcement was made after market hours yesterday, 29 June 2016.

Meanwhile, the S&P BSE Sensex was up 194.25 points or 0.73% at 26,934.64

On BSE, so far 12,000 shares were traded in the counter as against average daily volume of 5.05 lakh shares in the past one quarter. The stock hit a high of Rs 315 and low of Rs 313.25 so far during the trading session. The stock had hit record high of Rs 447.25 on 5 August 2015. The stock had hit 52-week low of Rs 272.05 on 12 April 2016.

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

Coal India and Solar Energy Corporation of India (SECI) signed two agreements yesterday, 28 June 2016, for implementation of 200 megawatts (MW) solar power projects in Madhya Pradesh for the beneficial utilisation of solar power by Northern Coalfields (NCL) and South Eastern Coalfields (SECL) at an estimated cost of Rs 650 crore. NCL and SECL are subsidiaries of Coal India.

Coal Indias consolidated net profit rose 0.2% to Rs 4247.93 crore on 0.1% fall in net sales to Rs 20759.45 crore.

Coal India is an organized state-owned coal mining corporate. The Government of India holds 79.65% stake in Coal India (as per the shareholding pattern as on 31 March 2016).

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Auto stocks rise on hopes of higher sales
Jun 29,2016

Hero MotoCorp (up 3.87%), Tata Motors (up 1.51%), Bajaj Auto (up 0.64%), SML Isuzu (up 1.14%), Escorts (up 0.57%), Ashok Leyland (up 0.2%), Maruti Suzuki India (up 1.28%), Mahindra & Mahindra (M&M) (up 0.54%) and TVS Motor Company (up 0.79%) edged higher. Eicher Motors slipped 0.29%.

The BSE Auto index was up 1.44% at 19,460.23. It outperformed the Sensex, which was up 0.76% at 26,727.22

The BSE Auto index had outperformed the market over the past 30 days till 28 June 2016, rising 1.39% compared with Sensexs 0.75% fall. The index had also outperformed the market in past one quarter, gaining 6.57% as against Sensexs 4.68% rise.

As per reports, the key recommendation of the 7th pay commission is a 23.55% increase in salaries, allowances and pension of central government employees and pensioners. This is built around the recommendation for a 14.27% hike in basic pay. This move will impact the remuneration of nearly 50 lakh central government employees and 58 lakh pensioners. The changes are likely to be implemented from 1 January 2016, reports indicated. The implementation of the pay commission will have a positive impact on auto sector as higher spending ability will boost consumption demand.

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Retail stocks jump after reports of Cabinets clearance to Model Shops and Establishments Act
Jun 29,2016

Meanwhile, the S&P BSE Sensex was up 211.15 points or 0.8% at 26,735.70.

Future Enterprises (up 6.32%), Shoppers Stop (up 4.65%), Trent (up 1.24%), Provogue India (up 9.83%), V2 Retail (up 4.96%), and Koutons Retail (up 2.13%) gained.

Shares of retail food chain Jubilant Foodworks rose 3.56%.

Shares of multiplex operators PVR (up 3.02%) and Inox Leisure (up 6.99%) gained.

As per reports, eating out or watching your favorite movie 24/7 will now be a reality with the Cabinet clearance of the Model Shops and Establishments (Regulation of Employment and Conditions of Services) Act 2015 today, 29 June 2016. Approval for the Model Shop & Establishment Act, will permit eating joints, movie theatres, malls, and local markets to remain open round the clock. Aimed at generating employment prospects, the move is expected to pave way for a level playing field between online and offline retailers.

As per reports, all public amusement establishments such as shopping malls, restaurants and local markets, which are not covered under the Factories Act 1948 are covered under the Model Shop & Establishment Act. These establishments must employ at least 10 or more employees to be able to come under the Act. Government offices such as banks including the Reserve Bank of India, insurance companies and factories that are covered under the Factories Act 1948 will not be covered under the legislation. The Act aimed at increasing the ease of doing business could be a game-changer for retailers as competition will increase between online and offline players. The implementation of this Act will also generate high employment opportunities for both men and women. Women will now be permitted to render services in 24/7 establishments. Companies will be mandated to facilitate women with safe transportation services and other related facilities such as crn++chees during night schedules, report added.

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Metal and mining stocks gain after reports of cabinet clearing National Mineral Exploration Policy
Jun 29,2016

Meanwhile, the S&P BSE Sensex was up 232.71 points or 0.88% at 26,757.26.

JSW Steel (up 1.1%), Bhushan Steel (up 2.49%), Hindustan Copper (up 2.64%), Vedanta (up 3.41%), Hindalco Industries (up 1.65%), Hindustan Zinc (up 2.91%), Jindal Steel & Power (up 0.68%), Tata Steel (up 1.22%), Steel Authority of India (Sail) (up 1.63%), National Aluminum Company (up 0.84%) and NMDC (up 2.12%) gained.

Shares of gold miner Deccan Gold Mines hit 20% upper circuit at Rs 49.05.

As per reports, the National Mineral Exploration Policy (NMEP) today, 29 June 2016 got the Cabinet approval, paving the way for auction of 100 prospective mineral blocks and boosting the countrys mining potential.

NMEP will allow private companies to carry out stand-alone exploration for the first time and help auction prospective mineral blocks. The blocks that will go on sale are among 100 mineral zones identified by the state-run Geological Survey of India following an aero geophysical assessment. India is keen to get private firms to start exploring for more minerals like diamonds and gold, where mining is negligible

To encourage mineral exploration in the country, the Mines Ministry has already notified the National Mineral Exploration Trust (NMET). Through NMEP, the government wants to attract private sector in exploration. States will also play a greater role by referring exploration projects, which can be taken up through NMET.

NMEP has reportedly proposed that private entities engaged in carrying out regional and detailed exploration would get a certain share in revenue (by way of royalty or premium accruing to the state government) in mining operation from the successful bidder after the e-auction of the mineral block. The revenue-sharing could be either in the form of a lumpsum or an annuity, to be paid throughout the period of mining lease with transferable rights.

Selection of private explorer is proposed to be done through a transparent process of competitive bidding through e-auction. For this, reasonable areas or blocks for regional exploration will be earmarked or identified by the government for auctioning.

The BSE Metal index had outperformed the market over the past one month till 28 June 2016, gaining 7.97% compared with Sensexs 0.48% fall. The index had also outperformed the market in past one quarter, gaining 12.96% as against Sensexs 6.24% gains.

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Dhanlaxmi Bank gains as board to consider fund raising
Jun 29,2016

Meanwhile, the S&P BSE Sensex was up 165.36 points or 0.62% at 26,689.91

On BSE, so far 2.28 lakh shares were traded in the counter as against average daily volume of 96,070 shares in the past one quarter. The stock hit a high of Rs 24.60 and a low of Rs 23.20 so far during the day. The stock had hit a 52-week low of Rs 16.90 on 12 February 2016. The stock had hit a 52-week high of Rs 34.25 on 13 July 2015. The stock had outperformed the market over the past 30 days till 28 June 2016, rising 28.89% compared with Sensexs 0.75% fall. The scrip had also outperformed the market in past one quarter, advancing 18.07% as against Sensexs 4.68% rise.

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

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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SBI gains after boards approval for raising long term funds
Jun 29,2016

The announcement was made during market hours today, 29 June 2016.

Meanwhile, the S&P BSE Sensex was up 196.59 points or 0.74% at 26,721.14.

On BSE, so far 10.75 lakh shares were traded in the counter as against average daily volume of 27.54 lakh shares in the past one quarter. The stock hit a high of Rs 218.70 and a low of Rs 216.20 so far during the day. The stock had hit a 52-week high of Rs 291.85 on 5 August 2015. The stock had hit a 52-week low of Rs 148.30 on 12 February 2016. The stock had outperformed the market over the past one month till 28 June 2016, gaining 10.61% compared with Sensexs 0.48% fall. The scrip had also outperformed the market in past one quarter, gaining 14.78% as against Sensexs 6.24% gains.

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

State Bank of India (SBI) said that the Executive Committee of the Central Board in its meeting held today, 29 June 2016, approved to raise long term funds up to $1.5 billion in single/multiple tranches through a public offer and/or private placement of senior unsecured notes in US dollar or any other convertible currency during the year ended 31 March 2017 (FY 2017).

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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Premier Explosives gains after announcing hike in stake of associate company
Jun 29,2016

The announcement was made during trading hours today, 29 June 2016.

Meanwhile, the BSE Sensex was up 152.18 points, or 0.57%, to 26,676.73

On BSE, so far 24,000 shares were traded in the counter, compared with an average volume of 1.26 lakh shares in the past one quarter. The stock hit a high of Rs 376.35 and a low of Rs 347 so far during the day. The stock hit a record high of Rs 519 on 7 January 2016. The stock hit a 52-week low of Rs 261.50 on 29 June 2015. The stock had underperformed the market over the past 30 days till 28 June 2016, falling 2.35% compared with Sensexs 0.75% fall. The scrip had also underperformed the market in past one quarter, declining 8.08% as against Sensexs 4.68% rise.

The small-cap company has an equity capital of Rs 8.86 crore. Face value per share is Rs 10.

Premier Explosives said that the company will hike its stake in associate company Precision Wire Products to 80% from its current holding of 25.71%. The company aims to acquire management control of Precision Wire Products for an assured supply of raw materials on a long term basis, Premier Explosives said. The indicative time period of completion of the acquisition is 30 June 2016, the company said. The shares will be acquired at Rs 10 per share in cash, it added.

Precision Wire Products is an unlisted public company engaged in manufacture of galvanised iron wire meant specifically for lead wire in detonators. The company achieved turnover of Rs 9.17 crore in the year ended 31 March 2016.

Premier Explosives net profit rose 68.32% to Rs 3.40 crore on 39% rise in net sales to Rs 58.45 crore in Q4 March 2016 over Q4 March 2015.

Premier Explosives is one of the major companies in India manufacturing the entire range of commercial explosives and accessories for the civil requirement.

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Volumes jump at Glaxosmithkline Consumer Healthcare counter
Jun 29,2016

Glaxosmithkline Consumer Healthcare clocked volume of 1.65 lakh shares by 13:45 IST on BSE, a 330.98-times surge over two-week average daily volume of 1,000 shares. The stock rose 0.04% at Rs 5,880.

Shilpa Medicare notched up volume of 3.93 lakh shares, a 58.99-fold surge over two-week average daily volume of 7,000 shares. The stock gained 2.41% at Rs 505.

Deccan Gold Mines saw volume of 18.66 lakh shares, a 11.11-fold surge over two-week average daily volume of 1.68 lakh shares. The stock surged 18.09% at Rs 48.30.

Allsec Technologies clocked volume of 1.91 lakh shares, a 7.01-fold surge over two-week average daily volume of 27,000 shares. The stock jumped 16.84% at Rs 266.40.

Nilkamal saw volume of 53,000 shares, a 6.26-fold rise over two-week average daily volume of 8,000 shares. The stock galloped 8.63% at Rs 1,240.05.

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Dabur India drops ex-dividend
Jun 29,2016

Before turning ex-dividend, the stock offered a dividend yield of 0.31% based on the stocks closing price of Rs 312.70 on the BSE yesterday, 28 June 2016.

Meanwhile, the S&P BSE Sensex was up 121.63 points or 0.46% at 26,646.18.

Selling was also witnessed on profit booking after the stock hit record high yesterday, 28 June 2016. The stock had hit a record high of Rs 320 yesterday, 28 June 2016. On BSE, so far 71,774 shares were traded in the counter as against average daily volume of 1 lakh shares in the past one quarter. The stock hit high of Rs 316.50 and low of Rs 304.10 so far during the day. The stock had hit a 52-week low of Rs 231.30 on 27 January 2016. The stock had outperformed the market over the past one month till 28 June 2016, gaining 5.64% compared with Sensexs 0.48% fall. The scrip had also outperformed the market in past one quarter, gaining 28.58% as against Sensexs 6.24% gains.

The large-cap company has equity capital of Rs 176.15 crore. Face value per share is Rs 1.

Dabur India will announce Q1 results on 27 July 2016. Dabur Indias consolidated net profit rose 16.6% to Rs 331.93 crore on 10.9% rise in net sales to Rs 2157.31 crore in Q4 March 2016 over Q4 March 2015.

Dabur India is one of the largest FMCG companies in India. The company operates in key consumer products categories like hair care, oral care, health care, skin care, home care & foods.

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Reliance Infra advances after bulk deal
Jun 29,2016

Meanwhile, the S&P BSE Sensex was up 124.46 points or 0.47% at 26,649.01

On BSE, so far 5.58 lakh shares were traded in the counter as against average daily volume of 4.39 lakh shares in the past one quarter. The stock hit a high of Rs 535.40 and a low of Rs 525 so far during the day. The stock had hit a 52-week high of Rs 622.05 on 5 January 2016. The stock had hit a 52-week low of Rs 282.20 on 25 August 2015. The stock had underperformed the market over the past 30 days till 28 June 2016, falling 4.27% compared with Sensexs 0.75% fall. The scrip had also underperformed the market in past one quarter, declining 2.2% as against Sensexs 4.68% rise.

The large-cap company has equity capital of Rs 262.99 crore. Face value per share is Rs 10.

Reliance Infrastructures consolidated net profit surged 43.7% to Rs 659.85 crore on 3.2% decline in net sales to Rs 4260.87 crore in Q4 March 2016 over Q4 March 2015.

Reliance Infrastructure is amongst the largest infrastructure companies, developing projects through various special purpose vehicles (SPVs) in several high growth sectors within the infrastructure space i.e. power, roads, metro rail, cement and defence. The company is also the leading utility company having presence across the value chain of power businesses i.e. generation, transmission, distribution and power trading. The company also provides engineering, procurement and construction (EPC) services for developing power and road projects.

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Sobha gains after announcing launch of luxury apartment project in Delhi-NCR
Jun 29,2016

The announcement was made after market hours yesterday, 28 June 2016.

Meanwhile, the BSE Sensex was up 121.28 points, or 0.46%, to 26,645.83.

On BSE, so far 12,926 shares were traded in the counter, compared with an average volume of 19,572 shares in the past one quarter. The stock hit a high of Rs 325.50 and a low of Rs 314.90 so far during the day. The stock hit a 52-week high of Rs 383.90 on 7 July 2015. The stock hit a 52-week low of Rs 230.05 on 25 February 2016. The stock had outperformed the market over the past one month till 28 June 2016, gaining 1.29% compared with Sensexs 0.48% fall. The scrip had also outperformed the market in past one quarter, gaining 16.13% as against Sensexs 6.24% gains.

The mid-cap company has an equity capital of Rs 98.06 crore. Face value per share is Rs 10.

Sobha said that the project is one of the largest group housing projects in Gurgaon which will offer best-in-class living experience to the customers. Sprawled over 39 acres, Sobha City comprises of 1,700 apartments across 22 towers with four units on each floor. The project offers 2BHK and 3BHK apartments that range from 1380 square feet (sq. ft) to 2342 sq. ft.

Sobhas consolidated net profit fell 41.3% to Rs 36.10 crore on 9% growth in net sales to Rs 550.40 crore in Q4 March 2016 over Q4 March 2015.

Sobha is a backward integrated real estate player. The company is primarily focused on residential and contractual projects.

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