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Glenmark Pharma gains after receiving USFDA approval for Kenalog generic
Aug 08,2016

The announcement was made before trading hours today, 8 August 2016.

Meanwhile, the BSE Sensex was up 135.86 points, or 0.48%, to 28,214.21.

On BSE, so far 1,993 shares were traded in the counter, compared with average daily volume of 40,431 shares in the past one quarter. The stock hit a high of Rs 852.30 and a low of Rs 846.30 so far during the day. The stock hit a record high of Rs 1,261.95 on 21 August 2015. The stock hit a 52-week low of Rs 671.50 on 12 February 2016. The stock had underperformed the market over the past 30 days till 5 August 2016, rising 2.80% compared with 3.22% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 2.90% as against Sensexs 11.30% rise.

The large-cap company has an equity capital of Rs 28.22 crore. Face value per share is Re 1.

Glenmark Pharmaceuticals said that its US-based subsidiary, Glenmark Pharmaceuticals Inc., USA, has been granted final approval by the United States Food & Drug Administration (USFDA) for Triamcinolone Acetonide cream USP, 0.1%, the generic version of Kenalog cream, 0.1% of Delcor Asset Corporation (Which is no longer being marketed in the US).

Triamcinolone acetonide cream is indicated for the relief of the inflammatory and pruritic manifestations of corticosteroid-responsive dermatoses.

According to IMS Health sales data for the 12-month period ending June 2016, the Kenalog Cream, 0.1% market achieved annual sales of approximately $43.6 million in the US market.

Glenmark said that its current portfolio consists of 108 products authorized for distribution in the US marketplace and 61 Abbreviated New Drug Application (ANDA) pending approval With the USFDA. In addition to these internal filings, Glenmark continues to identify and explore external development partnerships to supplement and accelerate the growth ofits existing pipeline and portfolio.

On a consolidated basis, Glenmark Pharmaceuticals net profit rose 1516.31% to Rs 171.49 crore on 23.96% rise in net sales to Rs 2174.02 crore in Q4 March 2016 over Q4 March 2015.The company will declare Q1 results on 12 August 2016.

Glenmark Pharmaceuticals is a research-driven, global, integrated pharmaceutical organization. Glenmark is a leading player in the discovery of new molecules both NCEs (new chemical entity) and NBEs (new biological entity). Glenmark has several molecules in various stages of clinical development and is primarily-focused in the areas of inflammation (asthma/COPD, rheumatoid arthritis etc.) and pain (neuropathic pain and inflammatory pain).

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Bharat Electronics declines after announcing weak Q1 results
Aug 08,2016

The result was announced after market hours on Friday, 5 August 2016.

Meanwhile, the S&P BSE Sensex was up 134.55 points or 0.48% at 28,212.90.

On BSE, so far 5,508 shares were traded in the counter as against average daily volume of 32,997 shares in the past one quarter. The stock hit a high of Rs 1,260 and a low of Rs 1,226.50 so far during the day. The stock had hit a 52-week low of Rs 984.36 on 25 August 2015. The stock had hit a record high of Rs 1,416.70 on 4 January 2016.

The large-cap company has equity capital of Rs 240 crore. Face value per share is Rs 10.

Bharat Electronics board approved the proposal for buyback of equity shares of the company for a total consideration not exceeding Rs 2171.15 crore at a buyback price of Rs 1,305 per share through a tender offer. The promoters of the company intimated their interest to participate in the proposed buyback.

Bharat Electronics was established at Bangalore, India, by the Government of India under the Ministry of Defence in 1954 to meet the specialised electronic needs of the Indian defence services. Over the years, it has grown into a multi-product, multi-technology, multi-unit company servicing the needs of customers in diverse fields in India and abroad.

The Government of India currently holds 75.02% stake in Bharat Electronics (as per the shareholding pattern as on 30 June 2016).

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Kotak Mahindra Bank advances after bulk deals
Aug 05,2016

Meanwhile, the S&P BSE Sensex was up 382.19 points or 1.38% at 28,096.56

A bulk deal of 1.85 lakh shares was executed on the Kotak Mahindra Bank scrip at Rs 759.35 per share at 09:50 IST on BSE. Another bulk deal of 3.50 lakh shares was executed on the scrip at Rs 759 per share at 10:55 IST on BSE. One more bulk deal of 5.02 lakh shares was executed on the scrip at Rs 766.50 per share at 12:34 IST.

Bulk deals boosted volume on the scrip. On BSE, so far 14.42 lakh shares were traded in the counter as against average daily volume of 1.61 lakh shares in the past one quarter. The stock hit a high of Rs 774.80 and a low of Rs 756.40 so far during the day. The stock had hit a record high of Rs 790 on 21 July 2016. The stock had hit a 52-week low of Rs 586.50 on 29 February 2016. The stock had underperformed the market over the past one month till 20 July 2016, advancing 1.58% compared with Sensexs 3.9% rise. The scrip had also underperformed the market in past one quarter, gaining 6.26% as against Sensexs 8.02% rise.

The large-cap bank has equity capital of Rs 918 crore. Face value per share is Rs 5.

Kotak Mahindra Bank net profit rose 291% to Rs 741.97 crore on 11.7% growth in total income to Rs 5120.03 crore in Q1 June 2016 over Q1 June 2015.

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

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Karnataka Bank drops after announcing details of rights issue
Aug 05,2016

Meanwhile, the S&P BSE Sensex was up 279.97 points or 1.01% at 27,994.34

On BSE, so far 7.29 lakh shares were traded in the counter as against average daily volume of 3.13 lakh shares in the past one quarter. The stock hit a high of Rs 154.30 and a low of Rs 141.85 so far during the day. The stock had hit a 52-week high of Rs 158.80 on 15 July 2016. The stock had hit a 52-week low of Rs 84.85 on 29 February 2016. The stock had outperformed the market over the past one month till 4 August 2016, rising 1.84% compared with 1.6% rise in the Sensex. The scrip also outperformed the market in past one quarter, surging 39.84% as against Sensexs 10.41% rise.

The small-cap private sector bank has equity capital of Rs 188.46 crore. Face value per share is Rs 10.

The rights issue will be in the ratio of one share for every two shares held. The bank made the announcement of the details of the rights issue during market hours.

Karnataka Banks net profit rose 11.2% to Rs 121.54 crore on 6.4% growth in total income to Rs 1434.96 crore in Q1 June 2016 over Q1 June 2015.

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Bharat Forge spurts on encouraging management guidance
Aug 05,2016

Meanwhile, the S&P BSE Sensex was up 248.95 points, or 0.90%, to 27,963.32.

On BSE, so far 9.44 lakh shares were traded in the counter, compared with an average daily volume of 83,462 shares in the past one quarter. The stock hit a high of Rs 819.95 and a low of Rs 719 so far during the day. The stock hit a 52-week high of Rs 1,292.50 on 20 August 2015. The stock hit a 52-week low of Rs 686.80 on 24 June 2016. The stock had underperformed the market over the past one month till 4 August 2016, falling 6.92% compared with 1.60% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 6.95% as against Sensexs 10.41% rise.

The large-cap company has equity capital of Rs 46.56 crore. Face value per share is Rs 2.

Shares of Bharat Forge had edged lower ahead of Q1 results. The stock fell 4.69% in four trading sessions to settle at Rs 723.50 yesterday, 5 August 2016, from its close of Rs 759.10 on 29 July 2016.

Bharat Forges net profit fell 37.7% to Rs 122.10 crore on 19.3% decline in total revenues to Rs 957.10 crore in Q1 June 2016 over Q1 June 2015. The domestic revenues registered a strong growth of Rs 10.8% but it was negated by the 40% de-growth in exports that was affected mainly by a declining US heavy truck market and the commodity related sectors in the industrial segment.

Earnings before interest, taxes, depreciation and amortization (EBITDA) fell 31.3% to Rs 253.70 crore in Q1 June 2016 over Q1 June 2015. EBITDA margins declined to 26.5% in Q1 June 2016 compared with 31.1% in Q1 June 2015. EBITDA was affected by product mix with lower value addition and lower realisation. The result was announced during trading hours today, 5 August 2016.

BN Kalyani the chairman and managing director of Bharat Forge said that although the financial year ending March 2017 (FY 2017) is a sluggish year in terms of sales development, the company believes that the phase of sequential sales decline has passed. Looking ahead in to Q2 September 2016, the company anticipates demand to be slightly higher compared to Q1 June 2016, with positive demand in India across automotive and industrial.

Bharat Forge is the flagship company of Kalyani Group. It is a global provider of high performance, innovative, safety & critical components and solutions to various industrial sectors including automotive, oil & gas, power, construction & mining, aerospace and rail & marine.

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Bharat Forge spurts on encouraging management commentary after weak Q1 results
Aug 05,2016

Meanwhile, the S&P BSE Sensex was up 248.95 points, or 0.90%, to 27,963.32.

On BSE, so far 9.44 lakh shares were traded in the counter, compared with an average daily volume of 83,462 shares in the past one quarter. The stock hit a high of Rs 819.95 and a low of Rs 719 so far during the day. The stock hit a 52-week high of Rs 1,292.50 on 20 August 2015. The stock hit a 52-week low of Rs 686.80 on 24 June 2016. The stock had underperformed the market over the past one month till 4 August 2016, falling 6.92% compared with 1.6% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 6.95% as against the Sensexs 10.41% rise.

The large-cap company has equity capital of Rs 46.56 crore. Face value per share is Rs 2.

Shares of Bharat Forge had edged lower ahead of Q1 results. The stock fell 4.69% in four trading sessions to settle at Rs 723.50 yesterday, 5 August 2016, from its close of Rs 759.10 on 29 July 2016.

Bharat Forges net profit fell 37.7% to Rs 122.10 crore on 19.3% decline in total revenue to Rs 957.10 crore in Q1 June 2016 over Q1 June 2015. The domestic revenue registered a strong growth of Rs 10.8%, but it was negated by the 40% de-growth in exports that was affected mainly by a declining US heavy truck market and the commodity related sectors in the industrial segment.

Earnings before interest, taxes, depreciation and amortization (EBITDA) fell 31.3% to Rs 253.70 crore in Q1 June 2016 over Q1 June 2015. EBITDA was adversely affected by product mix with lower value addition and lower realisation. EBITDA margins declined sharply to 26.5% in Q1 June 2016 from 31.1% in Q1 June 2015. The result was announced during trading hours today, 5 August 2016.

Kalyani said that he expects demand for the companys products and solutions to be slightly higher in Q2 September 2016 on sequential basis on the back of positive demand in India across automotive and industrial segments. He expects the challenging exports demand environment in industrial sector to continue for some time as global economies adjust to lower commodity prices. The companys focus for the current financial year is on accelerating product development pipeline, broadening the customer base and cash conservation.

Bharat Forge is the flagship company of Kalyani Group. It is a global provider of high performance, innovative, safety & critical components and solutions to various industrial sectors including automotive, oil & gas, power, construction & mining, aerospace and rail & marine.

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Pennar Engineering Building Systems gains after good Q1 result
Aug 05,2016

The result was announced after market hours yesterday, 4 August 2016.

Meanwhile, the S&P BSE Sensex was up 249.17 points or 0.9% at 27,963.54

On BSE, so far 5,537 shares were traded in the counter as against average daily volume of 2,224 shares in the past one quarter. The stock hit a high of Rs 198 so far during the day, matching its record high hit on 29 July 2016. The stock hit a low of Rs 185.55 so far during the day. The stock had hit a record low of Rs 127 on 11 February 2016. The stock had outperformed the market over the past one month till 4 August 2016, rising 10.26% compared with 1.60% rise in the Sensex. The scrip also outperformed the market in past one quarter, surging 28.66% as against Sensexs 10.41% rise.

The small-cap company has equity capital of Rs 34.27 crore. Face value per share is Rs 10.

Pennar Engineered Building Systems earnings before interest, taxation, depreciation and amortization (EBITDA) rose 16.9% to Rs 11.27 crore in Q1 June 2016 over Q1 June 2015. The company said that its current order book position stands at Rs 410 crore.

Pennar Engineered Building Systems is one of the leading custom designed building systems solutions providers in India. Its products and services include pre-engineered buildings, design and engineering services, solar module mounting structures, cold form buildings and structural steel products, which are widely used for various manufacturing, warehousing, industrial, infrastructure, and custom-designed commercial buildings.

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Suzlon Energy gains after Chairmans comments on likely exit from CDR
Aug 05,2016

Meanwhile, the S&P BSE Sensex was up 248.91 points, or 0.90%, to 27,963.28.

On BSE, so far 36.41 lakh shares were traded in the counter, compared with an average daily volume of 53.61 lakh shares in the past one quarter. The stock hit a high of Rs 17.60 and a low of Rs 16.60 so far during the day. The stock hit a 52-week high of Rs 28 on 6 August 2015. The stock hit a 52-week low of Rs 12.80 on 12 February 2016. The stock had underperformed the market over the past one month till 4 August 2016, falling 5.78% compared with 1.60% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 11.26% as against the Sensexs 10.41% rise.

The mid-cap company has equity capital of Rs 1004.10 crore. Face value per share is Rs 2.

Suzlon acquired German wind energy firm RePower, now renamed Senvion, for 1.4 billion euros ($1.56 billion) in 2007. The debt funding to purchase Senvion badly hurt Suzlon, leading it to post default in foreign currency convertible debt in 2012. It also forced Suzlon to enter CDR in 2013.

On consolidated basis, Suzlon Energy reported net loss of Rs 270.55 crore in Q4 March 2016, lower than net loss of Rs 1212.06 crore in Q4 March 2015. Net sales declined 33.9% to Rs 3244.93 crore in Q4 March 2016 over Q4 March 2015.

The Suzlon Group is one of the leading renewable energy solutions providers in the world with an international presence across 19 countries. The company has recently forayed into the solar space.

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Steel Strips Wheels gains after winning export order
Aug 05,2016

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

Meanwhile, the S&P BSE Sensex was up 261.31 points, or 0.94%, to 27,975.68.

On BSE, so far 16,000 shares were traded in the counter, compared with an average daily volume of 9,844 shares in the past one quarter. The stock hit a high of Rs 521.85 and a low of Rs 492.75 so far during the day. The stock hit a record high of Rs 551.30 on 27 July 2016. The stock hit a 52-week low of Rs 284 on 17 February 2016. The stock had underperformed the market over the past one month till 4 August 2016, rising 1.22% compared with 1.6% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 20.83% as against the Sensexs 10.41% rise.

The small-cap company has equity capital of Rs 15.52 crore. Face value per share is Rs 10.

The latest order includes development of 2 ground wheels. Under the order, the company will supply approximately 3 million wheels spread over 5 years generating cumulative revenue of about $55 million. SSWL aims to increase its presence in North America by launching its commercial vehicle steel wheels and passenger car alloy wheels from its upcoming green field plants in India in coming months, SSWL said.

Net profit of Steel Strips Wheels rose 53.1% to Rs 18.60 crore on 11.2% rise in net sales to Rs 325.40 crore in Q1 June 2016 over Q1 June 2015.

SSWL designs and manufactures automotive steel wheels and is among the leading supplier to Indian and global automobile manufacturers.

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GSK Consumer Healthcare slips on uninspiring Q1 results
Aug 05,2016

The result was announced during trading hours today, 5 August 2016.

Meanwhile, the S&P BSE Sensex was up 287.41 points, or 1.04%, to 28,001.78.

On BSE, so far 555 shares were traded in the counter, compared with an average daily volume of 4,899 shares in the past one quarter. The stock hit a high of Rs 6,370 and a low of Rs 6,220 so far during the day. The stock hit a record high of Rs 6,800 on 23 December 2015. The stock hit a 52-week low of Rs 5,366.50 on 2 March 2016. The stock had outperformed the market over the past one month till 4 August 2016, rising 3.79% compared with 1.60% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 8.28% as against Sensexs 10.41% rise.

The large-cap company has equity capital of Rs 42.06 crore. Face value per share is Rs 10.

GlaxoSmithkline Consumer Healthcare (GSK Consumer Healthcare) is a leading player in the malted food drinks segment. Its major brands include Horlicks, Boost, Viva and Maltova.

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Jamna Auto Industries gains after strong Q1 result
Aug 05,2016

The result was announced after market hours yesterday, 4 August 2016.

Meanwhile, the S&P BSE Sensex was up 279.33 points or 1.01% at 27,994.48

On BSE, so far 1.33 lakh shares were traded in the counter as against average daily volume of 98,148 shares in the past one quarter. The stock hit a high of Rs 202.10 and low of Rs 195.25 so far during the day. The stock hit a record high of Rs 204 on 1 August 2016. The stock hit a 52-week low of Rs 90 on 8 September 2015. The stock had outperformed the market over the past one month till 4 August 2016, rising 9.48% compared with 1.60% rise in the Sensex. The scrip had also outperformed the market in past one quarter, surging 36.11% as against Sensexs 10.41% rise.

The small-cap company has equity capital of Rs 39.74 crore. Face value per share is Rs 5.

Jamna Auto Industries said that the board of directors of the company at its meeting held yesterday, 4 August 2016, has decided to incorporate a wholly owned subsidiary company for setting up a plant in Lucknow.

Jamna Auto Industries is the largest manufacturer of tapered leaf and parabolic springs for commercial vehicles in India. The company is fast expanding its presence in new-generation products, like air suspension and lift axle.

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Jamna Auto Industries gains after bumper Q1 result
Aug 05,2016

The result was announced after market hours yesterday, 4 August 2016.

Meanwhile, the S&P BSE Sensex was up 279.33 points or 1.01% at 27,994.48

On BSE, so far 1.33 lakh shares were traded in the counter as against average daily volume of 98,148 shares in the past one quarter. The stock hit a high of Rs 202.10 and low of Rs 195.25 so far during the day. The stock hit a record high of Rs 204 on 1 August 2016. The stock hit a 52-week low of Rs 90 on 8 September 2015. The stock had outperformed the market over the past one month till 4 August 2016, rising 9.48% compared with 1.6% rise in the Sensex. The scrip had also outperformed the market in past one quarter, surging 36.11% as against the Sensexs 10.41% rise.

The small-cap company has equity capital of Rs 39.74 crore. Face value per share is Rs 5.

The surge in bottom line came even as depreciation charge rose sharply. The company said in its results footnote that it provided accelerated depreciation of Rs 9.27 crore in Q1 June 2016. The company provided accelerated depreciation taking note of the fact that certain machines may not be usable as the company has decided to upgrade its manufacturing facilities.

Meanwhile, Jamna Auto Industries said that it has decided to incorporate a wholly owned subsidiary company for setting up a plant in Lucknow.

Jamna Auto Industries is the largest manufacturer of tapered leaf and parabolic springs for commercial vehicles in India. The company is fast expanding its presence in new-generation products like air suspension and lift axle.

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Snowman Logistics drops after weak Q1 result
Aug 05,2016

The result was announced after market hours yesterday, 4 August 2016.

Meanwhile, the S&P BSE Sensex was up 293.62 points or 1.06% at 28,007.99

On BSE, so far 9.42 lakh shares were traded in the counter as against average daily volume of 6.14 lakh shares in the past one quarter. The stock hit a high of Rs 77 and low of Rs 72.50 so far during the day. The stock hit a 52-week high of Rs 115.70 on 5 August 2015. The stock hit a 52-week low of Rs 46.20 on 29 February 2016. The stock had underperformed the market over the past one month till 4 August 2016, falling 1.8% compared with 1.60% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, surging 41.87% as against Sensexs 10.41% rise.

The small-cap company has equity capital of Rs 167.09 crore. Face value per share is Rs 10.

Snowman Logistics said that net profit has declined in Q1 June 2016 due to a higher incidence of depreciation which increased by Rs 3.18 crore and interest which increased by Rs 1.79 crore on account of the expansion undertaken by the company. The trend is expected to improve further in the coming quarters, Snowman Logistics said.

Snowman Logistics earnings before interest, taxation, depreciation and amortization (EBITDA) rose 20.4% to Rs 14.75 crore in Q1 June 2016 over Q1 June 2015.

Snowman Logistics said that the drop in Q1 June 2016 revenue is a result of the companys decision to focus on its core business - temperature controlled warehousing. During Q1 June 2016, the company exited the loss making food services business and reduced the exposure to long distance road transportation unrelated to main business, Snowman Logistics said. This has led to a reduction in the fleet size of the company, it added. However, it has also led to an improvement in the companys EBITDA margins to 29.7% in Q1 June 2016 from 20.7% in Q1 June 2015.

Commenting on the results, Prem Kishan Gupta, Chairman, Snowman Logistics said that the near term focus of the company would be to consolidate its position by improving occupancy with higher yield products. The company will continue to explore opportunities to set up new warehouses especially in tier 2 and tier 3 cities, which currently have a very low penetration of high quality warehouses, Prem Kishan Gupta said.

Snowman Logistics is an integrated temperature controlled logistics services provider with an ability to service customers on a pan India basis.

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Snowman Logistics skids after weak Q1 results
Aug 05,2016

The result was announced after market hours yesterday, 4 August 2016.

Meanwhile, the S&P BSE Sensex was up 293.62 points or 1.06% at 28,007.99

On BSE, so far 9.42 lakh shares were traded in the counter as against average daily volume of 6.14 lakh shares in the past one quarter. The stock hit a high of Rs 77 and low of Rs 72.50 so far during the day. The stock hit a 52-week high of Rs 115.70 on 5 August 2015. The stock hit all-time low of Rs 46.20 on 29 February 2016. The stock had underperformed the market over the past one month till 4 August 2016, falling 1.8% compared with 1.6% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, surging 41.87% as against Sensexs 10.41% rise.

The small-cap company has equity capital of Rs 167.09 crore. Face value per share is Rs 10.

Snowman Logistics said that net profit has declined in Q1 June 2016 due to a higher incidence of depreciation which increased by Rs 3.18 crore and interest which increased by Rs 1.79 crore on account of the expansion undertaken by the company. Snowman Logistics earnings before interest, taxation, depreciation and amortization (EBITDA) rose 20.4% to Rs 14.75 crore in Q1 June 2016 over Q1 June 2015.

Snowman Logistics said that the drop in Q1 June 2016 revenue was due to the companys decision to focus on its core business viz. temperature controlled warehousing. The company has exited the loss making food services business and reduced the exposure to long distance road transportation unrelated to main business. This has led to a reduction in the fleet size of the company. This has also led to an improvement in the companys EBITDA margin to 29.7% in Q1 June 2016 from 20.7% in Q1 June 2015.

Commenting on the results, Prem Kishan Gupta, Chairman, Snowman Logistics said that the near term focus of the company would be to consolidate its position by improving occupancy with higher yield products. The company will continue to explore opportunities to set up new warehouses especially in tier 2 and tier 3 cities, which currently have a very low penetration of high quality warehouses, Gupta said.

Snowman Logistics is an integrated temperature controlled logistics services provider with an ability to service customers on a pan India basis.

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Monsanto India slips after weak Q1 results
Aug 05,2016

The result was announced after market hours yesterday, 4 August 2016.

Meanwhile, the S&P BSE Sensex was up 286.02 points, or 1.03%, to 28,000.39.

On BSE, so far 5,920 shares were traded in the counter, compared with an average daily volume of 29,349 shares in the past one quarter. The stock hit a high of Rs 2,318.95 and a low of Rs 2,231.30 so far during the day. The stock had hit 52-week high of Rs 3,320 on 5 August 2015. The stock hit 52-week low of Rs 1,520 on 11 April 2016. The stock had underperformed the market over the past one month till 4 August 2016, falling 10.46% compared with 1.6% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 31.50% as against the Sensexs 10.41% rise.

The mid-cap company has equity capital of Rs 17.26 crore. Face value per share is Rs 10.

Monsanto India, a subsidiary of the Monsanto Company, USA is a seed company focusing on maize and agricultural productivity. Monsanto Company, USA, currently holds 72.14% stake in Monsanto India (as per the shareholding pattern as on 30 June 2016).

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