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V-Guard Industries hits record high after announcement of stock split
Jun 17,2016

Meanwhile, the S&P BSE Sensex was up 114.77 points or 0.43% at 26,640.23.

On BSE, so far 23,954 shares were traded in the counter as against average daily volume of 46,773 shares in the past one quarter. The stock hit a high of Rs 1,464.80 so far during the trading session, which is a record high for the counter. The stock hit a low of Rs 1,356.50 so far during the day. The stock had hit a 52-week low of Rs 786.60 on 12 February 2016. The stock had outperformed the market over the past one month till 16 June 2016, surging 10.41% compared with the Sensexs 3.4% rise. The scrip had also underperformed the market in past one quarter, soaring 58.12% as against the Sensexs 7.47% rise.

The mid-cap company has equity capital of Rs 30.10 crore. Face value per share is Rs 10

Each equity share of face value of Rs 10 each will be split into ten equity shares of face value of Rs 1 each. The stock-split proposal is aimed at improving the liquidity of the stock in the secondary equity market and also to make the stock affordable to small investors.

The companys net profit jumped 109.1% to Rs 41.97 crore on 16% growth in net sales to Rs 510.07 crore in Q4 March 2016 over Q4 March 2015.

V-Guard Industries makes consumer electrical and electronics products. The companys product range includes Voltage Stabilizer, Digital UPS, Inverter and Inverter Batteries, Electric Water Heaters, Solar Water Heaters, Domestic Pumps, Agricultural Pumps, Industrial Motors, Domestic Switch Gears, Distribution Boards, Wiring Cables, Industrial Cables, Induction Cooktops, Mixer Grinders and Fans.

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Carborundum Universal gains after RBI withdraws ban on share purchases by foreign investors
Jun 17,2016

Meanwhile, the BSE Sensex was up 154.26 points, or 0.58%, to 26,679.72.

On BSE, so far 3,594 shares were traded in the counter, compared with an average volume of 7.80 lakh shares in the past one quarter. The stock hit a high of Rs 225.80 and a low of Rs 221.15 so far during the day. The stock hit a record high of Rs 230 on 1 June 2016. The stock hit a 52-week low of Rs 154 on 1 October 2015. The stock had underperformed the market over the past one month till 16 June 2016, rising 1.90% compared with 3.19% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 27.16% as against Sensexs 6.30% rise.

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

The Reserve Bank of India (RBI) notified yesterday, 16 June 2016, that the aggregate share holdings in Carborundum Universal by foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs) have gone below the prescribed threshold caution limit stipulated under the extant foreign direct investment (FDI) policy. Hence the restrictions placed on the purchase of shares of the above company are withdrawn with immediate effect. Equity shares of Carborundum Universal can now be purchased through primary market and stock exchanges, RBI said.

On a consolidated basis, net profit of Carborundum Universal 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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Bharti Infratel hits 52-week low
Jun 17,2016

Meanwhile, the S&P BSE Sensex was up 138.28 points or 0.52% at 26,663.74.

On BSE, so far 72,500 shares were traded in the counter as against average daily volume of 82,743 shares in the past one quarter. The stock hit a low of Rs 334.30 so far during the trading session, which is a 52-week low for the counter. The stock hit a high of Rs 351.85 so far during the day. The stock had hit a 52-week high of Rs 500 on 5 August 2015. The stock had underperformed the market over the past one month till 16 June 2016, sliding 9.49% compared with the Sensexs 3.4% rise. The scrip had also underperformed the market in past one quarter, sliding 5.20% as against the Sensexs 7.47% rise.

The large-cap company has equity capital of Rs 1896.67 crore. Face value per share is Rs 10

The stock has declined 10.5% in just three trading sessions from its close of Rs 380.35 on 14 June 2016. Before turning ex-date for share buyback, the buyback price of Rs 425 per share remained at a premium to the stocks ruling market price. The company set 16 June 2016 as the record date for buyback of equity shares on a proportionate basis from the exiting shareholders through the tender offer route. The company will acquire about 4.7 crore shares, representing 2.48% of the total issued and paid-up equity capital of the company under the buyback progremme. The company will spend almost Rs 2000 crore for the share buyback.

The companys promoter Bharti Airtel has decided to participate in the buyback programme. Bharti Airtel intends to offer at least such number of shares which is equal to its pro rata entitlement under the buyback. In addition, Bharti Airtel may offer additional shares in the buyback as it may determine subsequently, according to the public announcement on buyback issued by Bharti Infratel on 13 June 2016.

Besides the stock turning ex-date for share buyback through the tender offer route, another trigger for the stocks recent steep slide is a downgrade of the rating on the stock to underperform from buy from a foreign brokerage. The foreign brokerage has also reportedly slashed its 12-month target price on Bharti Infratel to Rs 232 from Rs 440 earlier. According to reports, the foreign brokerage has downgraded the Bharti Infratel stock as it expects slower than expected telecom data growth. The brokerage firm sees risk of rental renewals that may lead to telcom firms being offered discounts. The brokerage has reportedly slashed its projected earnings per share (EPS) for Bharti Infratel by 5-9 per cent for a period of three years from FY 2017 to FY 2019 factoring in higher-than-expected inflation in rental costs.

Bharti Infratels consolidated net profit rose 18.7% to Rs 661.70 crore on 7.3% growth in net sales to Rs 3161.90 crore in Q4 March 2016 over Q4 March 2015.

Bharti Infratel is one of the worlds largest telecom tower infrastructure providers that deploys, owns and manages telecom towers and communication structures for wireless operators.

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HDFC, Max Financial Services in demand
Jun 17,2016

Index heavyweight and housing finance major HDFC was up 1.10% at Rs 1214.50.

Max Financial Services was up 19.43% at Rs 512.

Meanwhile, the S&P BSE Sensex was up 110.21 points, or 0.42% at 26,635.67.

According to a media report, HDFC Life and Max Life are in talks to create the countrys biggest private life insurer as stiff competition and regulatory hurdles force firms to find new ways of growing market share and profitability. The board of HDFC Life is meeting in Mumbai today, 17 June 2016, to discuss the proposal, the report said.

Max Life is a joint venture between Max Financial Services and Mitsui Sumitomo Insurance (MSI), a Japan headquartered global leader in insurance. Max Financial Services holds 68.01% equity in Max Life, while MSI holds 26%.

HDFC Standard Life Insurance Company (HDFC Life) is a partnership between HDFC, Indias leading housing finance institution and Standard Life, a global long term investment savings player. Currently HDFC holds 61.63% and Standard Life (Mauritius Holdings) 2006 holds 35% of equity in HDFC Life, while the rest is held by others.

Reports added that it will be a dual merger, where HDFC Life would merge with Max Life and later the merged entity would merge with Max Financial Services.

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Alstom T&D turns volatile as promoters to pare stake
Jun 17,2016

The announcement was made after market hours yesterday, 16 June 2016.

Meanwhile, the BSE Sensex was up 172.42 points, or 0.65%, to 26,697.88.

On BSE, so far 539 shares were traded in the counter, compared with an average volume of 6.99 lakh shares in the past one quarter. Trading in the counter was volatile. The stock rose 1.28% at the days of Rs 369.30 in early trade. The stock rose 0.37% at the days low of Rs 366.30 in early trade. The stock hit a 52-week high of Rs 607.05 on 9 July 2015. The stock hit a 52-week low of Rs 325.75 on 25 May 2016. The stock had outperformed the market over the past one month till 16 June 2016, rising 3.83% compared with 3.19% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 5.35% as against Sensexs 6.30% rise.

The mid-cap company has an equity capital of Rs 51.21 crore. Face value per share is Rs 2.

Alstom T&D India said that the market regulator Securities and Exchange Board of India (Sebi) has allowed the companys promoters to sell 42,565 shares to maintain the minimum public shareholding requirement. According to the statement issued by the company, promoters hold 75.0166% of fully paid up share capital of Alstom T&D India, which exceeds the minimum pubic shareholding threshold of 75%.

Alstom T&D Indias net profit fell 44.72% to Rs 29.87 crore on 28.63% decrease in net sales to Rs 971.53 crore in Q4 March 2016 over Q4 March 2015.

Alstom T&D India is a leading player in the power transmission business. It has a predominant presence in all stages of the power supply chain.

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Bharti Infratel tumbles after downgrade in rating from foreign brokerage
Jun 16,2016

Meanwhile, the S&P BSE Sensex was down 227.02 points or 0.85% at 26,499.32.

On BSE, so far 2.12 lakh shares were traded in the counter as against average daily volume of 80,005 shares in the past one quarter. The stock hit a high of Rs 365.70 and a low of Rs 344.50 so far during the day. The stock had hit a 52-week low of Rs 341.60 on 29 September 2016. The stock had hit a 52-week high of Rs 500 on 5 August 2015. The stock had underperformed the market over the past one month till 15 June 2016, sliding 2.53% compared with the Sensexs 4.85% rise. The scrip had also underperformed the market in past one quarter, sliding 1.47% as against the Sensexs 8.86% rise.

The large-cap company has equity capital of Rs 1896.67 crore. Face value per share is Rs 10

The stock lost 3.9% to settle at Rs 365.35 yesterday, 15 June 2016. The scrip has declined 8.43% in two trading sessions from its close of Rs 380.35 on 14 June 2016.

According to reports, the foreign brokerage has downgraded the Bharti Infratel stock as it expects slower than expected telecom data growth. The brokerage firm sees risk of rental renewals that may lead to telcom firms being offered discounts. The brokerage has reportedly slashed its projected earnings per share (EPS) for Bharti Infratel by 5-9 per cent for a period of three years from FY 2017 to FY 2019 factoring in higher-than-expected inflation in rental costs.

Meanwhile, Bharti Infratel has set 16 June 2016 as the record date for buyback of equity shares through the tender offer route. In April this year, Bharti Infratel announced an up to Rs 2000 crore share buyback programme. The buyback price has been fixed at Rs 425 per share.

Bharti Infratels consolidated net profit rose 18.7% to Rs 661.70 crore on 7.3% growth in net sales to Rs 3161.90 crore in Q4 March 2016 over Q4 March 2015.

Bharti Infratel is one of the worlds largest telecom tower infrastructure providers that deploys, owns and manages telecom towers and communication structures for wireless operators.

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Premier Explosives spurts ahead of NSE debut
Jun 16,2016

The announcement was made during trading hours today, 16 June 2016.

Meanwhile, the BSE Sensex was down 219.80 points, or 0.82%, to 26,511.84.

On BSE, so far 82,000 shares were traded in the counter, compared with an average volume of 7.13 lakh shares in the past one quarter. The stock hit a high of Rs 389.90 and a low of Rs 366.50 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 234.10 on 17 June 2015. The stock had underperformed the market over the past one month till 15 June 2016, falling 2.56% compared with 3.70% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 13.63% as against Sensexs 8.30% rise.

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

Shares of Premier Explosives shall be traded in the normal market segment (rolling settlement) in compulsory demat for all investors on the National Stock Exchange (NSE).

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

Premier Explosives (PEL) 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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Info Edge gains after announcing investment in two startups
Jun 16,2016

Meanwhile, the S&P BSE Sensex was down 231.79 poitns or 0.87% at 26,494.55.

On BSE, so far 10,034 shares were traded in the counter as against average daily volume of 9,284 shares in the past one quarter. The stock hit a high of Rs 845 and a low of Rs 820 so far during the day. The stock had hit a 52-week high of Rs 935 on 23 July 2015. The stock had hit a 52-week low of Rs 690 on 1 March 2016. The stock had outperformed the market over the past one month till 15 June 2016, surging 9.74% compared with the Sensexs 4.85% rise. The scrip had underperformed the market in past one quarter, gaining 4.56% as against the Sensexs 8.86% rise.

The company has equity capital of Rs 120.92 crore. Face value per share is Rs 10.

Info Edge (India) has announced that it has invested a sum of Rs 3 crore through convertible preference shares for acquiring 11.5% stake on fully converted and diluted basis in contacts management venture Vcare Technologies Pvt Ltd. Diro Labs, run by Vcare Technologies Pvt. Ltd, allows users to make groups of contacts, back them up on cloud, and connect contacts with social media.

Separately, Info Edge (India) has invested a sum of Rs 4 crore through convertible preference shares for acquiring about 28.5% stake on fully converted and diluted basis in Unnati Online Pvt Ltd. Unnati operates as an employment exchange for informal sector workers in India.

Info Edge (India)s net profit fell 30.4% to Rs 57.18 crore on 18% growth in net sales to Rs 204.20 crore in Q4 March 2016 over Q4 March 2015.

Info Edge (India) is Indias premier online classifieds company in recruitment, matrimony, real estate, education and related services. It operates a slew of Internet properties including online recruitment classifieds portal Naukri.com, real estate portal 99acres.com and matrimonial website Jeevansathi.com.

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Indian Hotels gains on report of brokerage upgrade
Jun 16,2016

Meanwhile, the BSE Sensex was down 221.76 points, or 0.83%, to 26504.58.

On BSE, so far 2.16 lakh shares were traded in the counter, compared with an average volume of 41.38 lakh shares in the past one quarter. The stock hit a high of Rs 133 and a low of Rs 129.60 so far during the day. The stock hit a 52-week high of Rs 133 on 16 June 2016. The stock hit a 52-week low of Rs 80.75 on 7 September 2015. The stock had outperformed the market over the past one month till 15 June 2016, rising 10.35% compared with 3.70% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 35.32% as against Sensexs 8.30% rise.

The large-cap company has an equity capital of Rs 98.93 crore. Face value per share is Re 1.

According to reports, the brokerage says that the upgrade reflects scenario value increases of 30-83% driven by estimate changes and sale of Taj Boston and higher bull case probability of 30%. The company is planning to sell the Taj Boston hotel for at least $125 million, the brokerage reportedly added.

On a consolidated basis, Indian Hotels Company reported net loss of Rs 51.72 crore in Q4 March 2016 as against net loss of Rs 307.43 crore in Q4 March 2015. Net sales rose 10.94% to Rs 1228.45 crore in Q4 March 2016 over Q4 March 2015.

Indian Hotels Company is primarily engaged in the business of owning, operating & managing hotels, palaces and resorts.

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Wipro inches up after announcing launch of new analytics solution
Jun 16,2016

Meanwhile, the S&P BSE Sensex was down 236.79 points or 0.89% at 26,489.55.

On BSE, so far 5.48 lakh shares were traded in the counter as against average daily volume of 1.34 lakh shares in the past one quarter. The stock hit a high of Rs 549.25 and a low of Rs 542 so far during the day. The stock had hit a 52-week high of 613 on 1 October 2015. The stock had hit a 52-week low of Rs 508.90 on 29 February 2016. The stock had underperformed the market over the past one month till 15 June 2016, gaining 1.3% compared with the Sensexs 4.85% rise. The scrip had also underperformed the market in past one quarter, gaining 2.19% as against the Sensexs 8.86% rise.

The large-cap company has equity capital of Rs 494.14 crore. Face value per share is Rs 2.

Wipro said that its Data Discovery Platform solution provides pertinent business insights across the value chain of an industry through pre-defined apps. The solution will enable businesses to embark on an analytics journey with value added services of process simplification and business transformation. Leveraging techniques like visual sciences and storytelling with data, the Data Discovery Platform provides a unique value proposition around accelerated time to market for insights resulting in better adoption of insight driven decision making. The solutions modular, app driven approach coupled with machine learning, natural language processing, visualization and stream computing capability enables flexibility and scalability to meet evolving business requirements. The solution also plans to leverage capabilities from various partners to enhance the experience offered to the organizations.

Wipros consolidated net profit rose 0.04% to Rs 2235 crore on 6.1% growth in net sales to Rs 13741.70 crore in Q4 March 2016 over Q3 December 2015.

Wipro is one of the leading global information technology, consulting and outsourcing companies.

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3i Infotech spurts after debt restructuring approval
Jun 16,2016

The announcement was made during trading hours yesterday, 15 June 2016.

Meanwhile, the BSE Sensex was down 251.24 points, or 0.94%, to 26,475.10.

On BSE, so far 24.84 lakh shares were traded in the counter, compared with an average volume of 2.29 crore shares in the past one quarter. The stock hit a high of Rs 5.25 and a low of Rs 4.70 so far during the day. The stock hit a 52-week high of Rs 6.80 on 25 June 2015. The stock hit a 52-week low of Rs 2.72 on 20 August 2015. The stock had outperformed the market over the past one month till 15 June 2016, 5.88% compared with 3.70% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, 5.63% as against Sensexs 8.30% rise.

The small-cap company has an equity capital of Rs 640.80 crore. Face value per share is Rs 10.

3i Infotech announced that Corporate Debt Restructuring Empowered Group (CDR EG) approved the companys debt restructuring scheme (DRS). The scheme mentions waiver of all unpaid interest dues from 1 April 2014 till 31 March 2016, including liquidated damages & penal interest. If there is any shortfall in servicing of interest/unpaid interest till 31 March 31 2014, the lenders would be allotted equity shares of the company at face value towards the shortfall amount unpaid amount.

The lenders have also approved conversion of 35% of the debt into non-convertible redeemable preference shares (NCPS), with a coupon rate of 0.10% and maturity of 10 years. Further, the lenders approved conversion of 40% of the debt into equity shares of the company at face value of Rs 10 each and retention of balance 25% net debt with elongated repayment schedule and revised interest rate.

The companys board had submitted the DRS to the lenders on 7 December 2015. The CDR EG issued the letter of approval dated 14 June 2016.

On a consolidated basis, 3i Infotech reported net loss of Rs 78.57 crore in Q3 December 2015 as against net loss of Rs 299.59 crore in Q3 December 2014. Net sales declined 10.40% to Rs 286.39 crore in Q3 December 2015 over Q3 December 2014.

3i Infotech provides software solutions and a wide range of IT services. The company has a customer base in geographies like South Asia, Middle East and Africa, Asia Pacific, Kingdom of Saudi Arabia and North America.

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Volumes jump at Zydus Wellness counter
Jun 16,2016

Zydus Wellness clocked volume of 80,000 shares by 13:07 IST on BSE, a 77.83-times surge over two-week average daily volume of 1,000 shares. The stock rose 6.91% to Rs 808.35.

State Bank of Mysore notched up volume of 3.15 lakh shares, a 15.14-fold surge over two-week average daily volume of 21,000 shares. The stock rose 19.36% to Rs 654.

Rana Sugars saw volume of 86.58 lakh shares, a 14.80-fold surge over two-week average daily volume of 5.85 lakh shares. The stock rose 19.04% to Rs 11.88.

Maxwell Industries clocked volume of 8.47 lakh shares, a 13.14-fold surge over two-week average daily volume of 64,000 shares. The stock rose 13.58% to Rs 62.30.

State Bank of Travancore saw volume of 5.42 lakh shares, a 12.16-fold rise over two-week average daily volume of 45,000 shares. The stock rose 16.93% to Rs 560.

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GAIL (India) moves higher ahead of Mahanagar Gas IPO
Jun 16,2016

Meanwhile, the S&P BSE Sensex was down 319.26 points or 1.19% at 26,407.08.

On BSE, so far 1.35 lakh shares were traded in the counter as against average daily volume of 1.23 lakh shares in the past one quarter. The stock hit a high of Rs 383.75 and a low of Rs 376.60 so far during the trading session. The stock had 52-week high of Rs 418 on 25 June 2015. The stock had hit 52-week low of Rs 260.25 on 25 August 2015. The stock had underperformed the market over the past one month till 15 June 2016, sliding 0.32 % compared with the Sensexs 4.85% rise. The scrip had outperformed the market in past one quarter, surging 11.17% as against the Sensexs 8.86% rise.

The large-cap firm has equity capital of Rs 1268.48 crore. Face value per share is Rs 10.

The GAIL (India) stock has risen 3.3% in four trading sessions from its close of Rs 369.10 on 10 June 2016.

GAIL (India) and BG Asia Pacific Holdings Pte, the two promoters of Mahanagar Gas (MGL), are selling about 1.23 crore shares each of MGL via an initial public offer (IPO) of MGL. MGL will not get any proceeds from the IPO. The IPO opens for bidding on 21 June 2016 and concludes on 23 June 2016. The price band for the IPO has been set at Rs 380 to Rs 421 per share.

GAIL (India) and BG Asia Pacific Holdings Pte (BGAPH) hold about 4.44 crore shares each in MGL, constituting 45% stake each. The Maharashtra state government holds the remaining 10% stake. BGAPH is headquartered in Singapore and is a part of the Shell Group, an international exploration and production and LNG group of companies.

MGL is one of the largest city gas distribution companies in India. It is presently the sole authorized distributor of compressed natural gas (CNG) and piped natural gas (PNG) in Mumbai, its adjoining areas and the Raigad district of Maharashtra. The company distributes CNG for use in motor vehicles and PNG for domestic household use as well as for commercial and industrial use. MGLs net profit rose 2.55% to Rs 308.68 crore on 0.76% fall in revenue from operations to Rs 2078.92 crore in the year ended 31 March 2016 over the year ended 31 March 2015.

State-run GAIL (India) is Indias largest natural gas company with a market share of over 80% in natural gas transmission. Apart from natural gas transmission, distribution and processing, GAIL has diversified business interests in LPG transmission, petrochemicals, city gas projects and exploration and production activities.

GAIL (India)s net profit 50.8% to Rs 769.99 crore on 18.3% decline net sales to Rs 11627.20 crore in Q4 March 2016 over Q4 March 2015.

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Pricol jumps after selling entire stake in subsidiary company
Jun 16,2016

The announcement was made after market hours yesterday, 15 June 2016.

Meanwhile, the BSE Sensex was down 356.53 points, or 1.33%, to 26,369.81.

On BSE, so far 6.61 lakh shares were traded in the counter, compared with an average volume of 1.86 crore shares in the past one quarter. The stock hit a high of Rs 83.60 and a low of Rs 77.75 so far during the day. The stock hit a record high of Rs 83.60 on 16 June 2016. The stock hit a 52-week low of Rs 28.55 on 8 September 2015. The stock had outperformed the market over the past one month till 15 June 2016, rising 46.52% compared with 3.70% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 82.76% as against Sensexs 8.30% rise.

The small-cap company has an equity capital of Rs 9.48 crore. Face value per share is Re 1.

Integral Investments (IIL) is a non-banking financial company (non-deposit taking) registered with the Reserve Bank of India (RBI). Gross income from operation of IIL for the financial yar ending Mach 2016 was Rs 10 lakh, which constituted 0.01% of the consolidated turnover of Pricol.

None of the buyers of IIL are related parties and do not belong to promoter group companies, Pricol said. Accordingly, IIL is no longer a wholly-owned subsidiary of Pricol.

Pricol reported net profit of Rs 22.07 crore in Q4 March 2016 as against net loss of Rs 2.40 crore in Q4 March 2015. Net sales rose 52.49% to Rs 332.11 crore in Q4 March 2016 over Q4 March 2015.

Pricol makes automotive components for the global markets. It caters to two, three, four wheelers, commercial vehicles, tractors and off highway vehicles. The company has 8 manufacturing units and 7 business offices acrossthe globe including India, Indonesia, USA, Brazil, Germany, Singapore and Japan.

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Maruti skids as yen strengthens on global risk aversion
Jun 16,2016

Meanwhile, the S&P BSE Sensex was down 378.51 points or 1.42% at 26,347.83.

On BSE, so far 75,732 shares were traded in the counter as against average daily volume of 79,351 shares in the past one quarter. The stock hit a high of Rs 4,166.45 and a low of Rs 4,063.45 so far during the day. The stock had hit a record high of Rs 4,789 on 23 November 2015. The stock had hit a 52-week low of Rs 3,202.10 on 29 February 2016. The stock had outperformed the market over the past one month till 15 June 2016, surging 9.43% compared with Sensexs 4.85% rise. The scrip had also outperformed the market in past one quarter, gaining 15.14% as against Sensexs 8.86% rise.

The large-cap company has equity capital of Rs 151.04 crore. Face value per share is Rs 5.

The Japanese yen surged against the dollar on global risk aversion generated by Brexit fears. The Japanese currency is perceived as a haven in times of global financial and global economic worries. Brexit refers to the referendum on 23 June 2016 by British voters to decide whether the country should remain a member of the European Union or leave it. The latest strength in the Japanese currency materialized after Japans central bank the Bank of Japan (BOJ) voted to leave its monetary policy unchanged after a policy review. The BOJ voted to keep its annual asset-purchase target unchanged at 80 trillion yen (around $760 billion) a year and its deposit rate steady at minus 0.1%. The decision was on expected lines.

A strong yen adversely impacts Maruti Suzuki Indias (Maruti) operating profit margin. Maruti pays royalty to its Japanese parent Suzuki Motor Corporation in yen terms for some of its earlier models. Maruti has reportedly started paying royalty to its Japanese parent in rupee terms on all new models from 1 April 2016. Maruti also has an exposure to the yen to the extent it imports raw materials from Japan.

Maruti Suzuki Indias net profit declined 11.7% to Rs 1133.60 crore on 12.5% growth in net sales to Rs 14929.50 crore in Q4 March 2016 over Q4 March 2015.

Maruti is Indias biggest car maker in terms of market share. Japanese parent Suzuki Motor Corporation currently holds 56.21% stake in Maruti (as per the shareholding pattern as on 31 March 2016).

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