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Intellect Design Arena slides on equity dilution worries
Jun 13,2016

Meanwhile, the S&P BSE Sensex was off 252.36 points or 0.95% at 26,383.39

On BSE, so far 76,911 shares were traded in the counter as against average daily volume of 2.14 lakh shares in the past one quarter. The stock hit a high of Rs 212.30 and a low of Rs 206.20 so far during the day. The stock had hit a record high of Rs 302.65 on 23 November 2015. The stock had hit 52-week low of Rs 98 on 12 June 2015. The stock had underperformed the market over the past one month till 10 June 2016, sliding 0.59% compared with the Sensexs 3.35% rise. The scrip had also underperformed the market in past one quarter, gaining 4.63% as against the Sensexs 8.17% rise.

The small cap company has equity capital of Rs 50.51 crore. Face value per share is Rs 5.

Having received the approval of the board of directors on 11 June 2016, Intellect Design Arena will now seek shareholders nod for raising funds in the ensuing annual general meeting.

Based on consolidated financial performance, Intellect Design Arenas net profit jumped 147.7% to Rs 14.14 crore on 34.3% growth in net sales to Rs 216.65 crore in Q4 March 2016 over Q4 March 2015.

Intellect Design Arena provides fully integrated IT products across global consumer banking (iGCB), central banking, Risk & Treasury Management (iRTM), global transaction banking (iGTB) and insurance verticals.

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KCP jumps over 8% in two sessions
Jun 13,2016

The announcement was made after market hours on Thursday, 9 June 2016. Shares of KCP rose 5.27% to Rs 91.95 on Friday, 10 June 2016. The stock has risen 8.41% in two sessions from its close of Rs 87.35 on Thursday, 9 June 2016.

Meanwhile, the BSE Sensex was down 249.63 points, or 0.94%, to 26,386.12.

On BSE, so far 2.48 lakh shares were traded in the counter, compared with an average volume of 31.80 lakh shares in the past one quarter. The stock hit a high of Rs 97.45 and a low of Rs 89.60 so far during the day. The stock hit a 52-week high of Rs 101.25 on 20 October 2015. The stock hit a 52-week low of Rs 58.40 on 29 June 2015.The stock had outperformed the market over the past one month till 10 June 2016, rising 16.69% compared with 3.28% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 34.33% as against Sensexs 7.76% rise.

The small-cap company has an equity capital of Rs 12.89 crore. Face value per share is Re 1.

KCP said it has decided to expand the production capacity of its cement unit located at Krishna district in Andhra Pradesh to 3.5 MTPA from 1.8 MTPA. The expansion will be carried out at estimated outlay of Rs 400 crore. The company did not mention how it intends to finance the expansion programme.

KCP reported net loss of Rs 1.75 crore in Q4 March 2016 compared with net profit of Rs 13.45 crore in Q4 March 2015. Net sales rose 14.5% to Rs 186.82 crore in Q4 March 2016 over Q4 March 2015.

KCP is engaged in two main business segments viz. cement and heavy engineering. It also has captive power plants.

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Oil E&P stocks drop along with crude oil price
Jun 13,2016

Oil India was off 1.5% at Rs 351.75. ONGC was off 1.6% at Rs 215.50. Cairn India was off 3.9% at Rs 140.25. Index heavyweight Reliance Industries bucked the weak trend in the sector. The stock was currently up 0.09% at Rs 976.55.

Meanwhile, the S&P BSE Sensex was off 191.52 points or 0.72% at 26,444.23.

Lower crude oil prices will result in lower realization from crude oil sales for oil exploration & production (E&P) firms if the prices are sustained at lower level.

Global crude oil prices fell after a weekly report on Friday, 10 June 2016, showed increase in active oil rigs in the United States. Brent for August 2016 settle was currently off 49 cents or 0.97% at $50.05 a barrel. The contract had lost $1.14 a barrel or 2.71% to settle at $50.54 a barrel during the previous trading session on 10 June 2016. Oil market participants use the weekly report on active oil rigs in the US to gauge whether US producers are revving up oil-production activity. US energy firms added three oil rigs in the week to 10 June 2016, bringing the total rig count up to 328, compared with 635 a year ago, Baker Hughes said in its closely followed report.

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Premier Explosives turns volatile after winning order
Jun 13,2016

The announcement was made during trading hours today, 13 June 2016.

Meanwhile, the BSE Sensex was down 272.35 points, or 1.02%, to 26,363.40.

On BSE, so far 17,000 shares were traded in the counter, compared with an average volume of 7.05 lakh shares in the past one quarter. Trading was volatile in the counter. The stock rose 4.64% at the days high of Rs 370. The stock fell 2.43% at the days low of Rs 345. The stock hit a 52-week high of Rs 519 on 7 January 2016. The stock hit a 52-week low of Rs 222 on 12 June 2015. The stock had underperformed the market over the past one month till 10 June 2016, falling 4.38% compared with 3.28% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, sliding 8% as against Sensexs 7.76% rise.

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

Premier Explosives said it has bagged an order worth Rs 72.95 crore for the supply of SMS/SME explosives, LDC explosives and accessories for blasting at all the open cast projects of the Singareni Collieries Company for a period of 2 years i.e. from 2016 to 2018.

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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Volumes jump at HDFC counter
Jun 13,2016

HDFC clocked volume of 15.99 lakh shares by 12:43 IST on BSE, a 27.08-times surge over two-week average daily volume of 59,000 shares. The stock fell 1.65% to Rs 1,210.50.

Navkar Corporation notched up volume of 7.18 lakh shares, a 10.78-fold surge over two-week average daily volume of 67,000 shares. The stock fell 1.21% to Rs 196.

Ambuja Cements saw volume of 11.42 lakh shares, a 9.31-fold surge over two-week average daily volume of 1.23 lakh shares. The stock fell 0.53% to Rs 233.50.

Uttam Sugar Mills clocked volume of 9.18 lakh shares, a 8.09-fold surge over two-week average daily volume of 1.14 lakh shares. The stock rose 16.99% to Rs 80.20.

Oudh Sugar Mills saw volume of 10.02 lakh shares, a 7.14-fold rise over two-week average daily volume of 1.40 lakh shares. The stock rose 20% to Rs 135.30.

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Tata Motors, Tata Steel skid on Brexit fears
Jun 13,2016

Recent polls have suggested that momentum is growing for the Britains campaign to leave the bloc. The Organization for Economic Cooperation and Development (OECD) has warned that Britains leaving the EU -- the so-called Brexit -- could send shocks through global financial markets. The OECD said on 1 June 2016 that a United Kingdom vote to leave the European Union (EU) would trigger negative economic effects on the UK, other European countries and the rest of the world. Brexit would lead to economic uncertainty and hinder trade growth, with global effects being even stronger if the British withdrawal from the EU triggers volatility in financial markets, the OECD said. By 2030, post-Brexit UK GDP could be over 5% lower than if the country remained in the European Union, the OECD said.

Shares of Tata Motors have dropped 5.64% from its close of Rs 466.70 on 9 June 2016. The Tata Steel stock has lost 5.59% from its close of Rs 342.05 on 9 June 2016. Stocks across the globe have fallen over the past two trading sessions on Brexit fears.

Both Tata Steel and Tata Motors have large operations in UK and Europe. Tata Steel is Europes second largest steel producer, with steelmaking in the UK and Netherlands, and manufacturing plants across Europe. Tata Steel Europe has initiated the process to sell its UK business viz. Tata Steel UK. Tata Steel Europe has invited seven short listed potential investors to submit binding bids for Tata Steel UK.

Tata Motors derives majority of its revenue from its British luxury car unit Jaguar Land Rover (JLR). JLR is the largest automotive manufacturer in Britain. It is one of the UKs largest exporters and generates over 80% of its revenue from exports.

Meanwhile, another trigger for the fall in the Tata Steel counter was downgrade of the stock from a foreign brokerage to sell from neutral citing expensive valuations. The brokerage has reported said in a research note that fall in steel prices in Europe would further weigh on Tata Steel counter. The brokerage has reportedly said that the Tata Steel stock is currently pricing in most of the potentially positive drivers such as higher profitability and sale of UK assets.

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Unitech spurts on reports of Greater Noida exit policy
Jun 13,2016

Meanwhile, the BSE Sensex was down 367.15 points, or 1.38%, to 26,268.60

On BSE, so far 1.26 crore shares were traded in the counter, compared with an average volume of 48.34 crore shares in the past one quarter. The stock hit a high of Rs 4.90 and a low of Rs 4.02 so far during the day. The stock hit a 52-week high of Rs 8.44 on 24 June 2015. The stock hit a 52-week low of Rs 3.43 on 11 February 2016. The stock had underperformed the market over the past one month till 10 June 2016, falling 0.97% compared with 3.28% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 25.55% as against Sensexs 7.76% rise.

The small-cap company has an equity capital of Rs 523.26 crore. Face value per share is Rs 2.

According to reports, authorities in Noida-Greater Noida region - one of the biggest housing markets in the National Capital Region (NCR) - may soon implement an exit policy for builders looking to surrender surplus land.

Arun Vir Singh, CEO of Yamuna Expressway Industrial Development Authority (YEIDA) was quoted by media as saying that authorities of Noida, Greater Noida and Yamuna Expressway will soon firm up a proposal on this and send it to the Uttar Pradesh government for approval. He added that many developers had been asking for an exit policy because of slow sales.

Unitech has a large exposure in NCR, which encompasses the entire National Capital Territory of Delhi.

On a consolidated basis, Unitech reported net loss of Rs 539.46 crore in Q4 March 2016 compared with net loss of Rs 162.54 crore in Q4 March 2015. Total income fell 51.64% to Rs 511.52 crore in Q4 March 2016 over Q4 March 2015.

Unitech is one of Indias leading real estate player. It has a diversified product mix in real estate comprising of commercial complexes, IT/ITes parks, special economic zones (SEZs), integrated residential developments, schools, hotels, malls, golf courses and amusement parks.

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Tata Power declines a tad after announcing acquisition of Welspun Renewable Energy
Jun 13,2016

Meanwhile, the S&P BSE Sensex was off 347.27 points or 1.3% at 26,288.48

Tata Power Renewable Energy (TPREL) is a wholly owned subsidiary of Tata Power Company. Welspun Enterprises holds 15.49% stake in Welspun Energy Private Limited. Welspun Renewable Energy Private Limited (WREPL) is a subsidiary of Welspun Energy Private Limited. Tata Power said that acquisition of WREPL will enable it to expand its renewable energy portfolio. WREPL is engaged in the business of power generation in renewable sector. It has about 1,140 megawatts (MW) of renewable power projects comprising of about 990 MW solar power projects and about 150 MW of wind power projects. Out of 1,140 MW renewable portfolio, nearly 1,000 MW of capacity is operational and balance capacity is under advanced stages of implementation. After the acquisition of WREPL, TPREL will have renewable assets portfolio of about 2,300 MW, making it the largest renewable power company in India. TPREL is Tata Powers primary investment vehicle for the clean and renewable energy based power generation capacity.

The acquisition is being made at an enterprise value of Rs 9249 crore, subject to closing adjustments. WREPL reported consolidated revenue of Rs 768 crore for the year ended 31 March 2016 (FY 2016). The transaction is expected to be completed by end of September 2016

Tata Power is an integrated power company. The company together with its subsidiaries and jointly controlled entities has an installed gross power generation capacity of 9,184 megawatts (MW) and a presence in all the segments of the power sector viz. fuel security and logistics, generation (thermal, hydro, solar and wind), transmission, distribution and trading.

Based on consolidated financial performance, Tata Powers net profit jumped 126.4% to Rs 360.25 crore on 19.1% growth in net sales to Rs 9333.52 crore in Q4 March 2016 over Q4 March 2015.

Welspun Enterprises, part of the Welspun Group, is an operating company as well as a holding company in the business of infrastructure, oil & gas exploration and renewable energy.

Welspun Enterprises net profit dropped 80.4% to Rs 2.85 crore on 30.2% fall in total income to Rs 96.37 crore in Q4 March 2016 over Q4 March 2015.

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Amtek Auto gains on reports it may sell German unit Tekfor
Jun 13,2016

Meanwhile, the BSE Sensex was down 322.43 points, or 1.21%, to 26,313.32.

On BSE, so far 17.09 lakh shares were traded in the counter, compared with an average volume of 3.87 crore shares in the past one quarter. The stock hit a high of Rs 37.20 and a low of Rs 35.50 so far during the day. The stock hit a 52-week high of Rs 176.10 on 3 August 2015. The stock hit a 52-week low of Rs 25.60 on 4 September 2015. The stock had underperformed the market over the past one month till 10 June 2016, falling 2.26% compared with 3.28% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 9.83% as against Sensexs 7.76% rise.

The small-cap company has an equity capital of Rs 44.95 crore. Face value per share is Rs 2.

According to reports, debt-ridden automobile component maker Amtek Auto is close to selling its profitable German unit, Tekfor, for about $700 million (Rs 4690 crore) to an foreign buyer in a bid to reduce its debt.

The consolidated debt of the group is estimated to be about $2.2 billion (Rs 14700 crore). The group also plans to sell 50% share in a joint venture unit and a domestic food business, as well as raise funds from three overseas investors. It claims that after these deals are done, the debt of the company will come down by $1 billion (Rs 6700) in the next 12 months, the report added.

Amtek Auto reported net loss of Rs 528.69 in Q2 March 2016 compared with net profit of Rs 129.82 crore in Q2 March 2015. Net sales fell 33% to Rs 608.75 crore in Q2 March 2016 over Q2 March 2015.

Amtek Auto is one of the largest integrated automotive component manufacturers in India with a strong global presence. Amtek Auto has a presence in forging, grey and ductile iron casting, gravity and high-pressure aluminum die casting and machining and sub-assembly. The company also manufactures components for non-auto sectors such as the railways, specialty vehicles, aerospace, agricultural and heavy earth moving equipment. The company has manufacturing facilities in India, Europe and North America.

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A2Z Infra Engineering jumps after winning order
Jun 13,2016

Meanwhile, the BSE Sensex was down 290.50 points, or 1.09%, to 26,345.25.

On BSE, so far 5.39 lakh shares were traded in the counter, compared with an average volume of 85.20 lakh shares in the past one quarter. The stock hit a high of Rs 34.60 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 31.60 so far during the day. The stock hit a 52-week low of Rs 12.10 on 12 June 2015. The stock had outperformed the market over the past one month till 10 June 2016, rising 28.69% compared with 3.28% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 53.98% as against Sensexs 7.76% rise.

The small-cap company has an equity capital of Rs 126.89 crore. Face value per share is Rs 10.

A2Z Infra Engineering announced after market hours on Friday, 10 June 2016, that a contract has been awarded from Nepal Electricity Authority (a Government of Nepal Undertaking) for expansion of distribution network in the Western Region of Nepal for contract price aggregating to $13.56 million.

A2Z Infra Engineering reported net profit of Rs 6.53 crore in Q4 March 2016 as against net loss of Rs 109.54 crore in Q4 March 2015. Net sales rose 453.48% to Rs 349.58 crore in Q4 March 2016 over Q4 March 2015.

AZZ Maintenance & Engineering Services is an engineering, procurement and construction (EPC).

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Aviation stocks hit air pocket after proposed draft amendments to CARs
Jun 13,2016

SpiceJet was off 1.3% at Rs 62.90. Jet Airways (India) was off 1.9% at Rs 557.65. InterGlobe Aviation was off 2% at Rs 978.50.

Meanwhile, the S&P BSE Sensex was off 286.08 points or 1.07% at 26,349.67.

The Ministry of Civil Aviation said in its proposed draft amendments to Civil Aviation Requirements (CARs) that airlines shall refund all statutory taxes and User Development Fee (UDF)/Airport Development Fee (ADF)/Passenger Service Fee (PSF) to the passengers in case of cancellation of tickets/non-utilisation of tickets/no show. In no circumstances, the cancellation charge shall be more than the basic fare.

In case of denied boarding, flight cancellation and flight delays, the ministry has proposed that an amount equal to 200% of booked one way basic fair plus airline fuel charge subject to maximum of Rs 10,000 would be paid to passengers in case airline arranges alternate flight that is to depart after one hour but within 24 hours of the booked scheduled departure. The ministry has proposed that an airline shall refund an amount equal to 400% of booked one-way basic fare plus airline fuel charge subject to maximum of Rs 20,000 in case where the airline arranges alternate flight that is scheduled to depart beyond 24 hours of the booked scheduled departure. In case passenger does not opt for alternate flight, the airline shall refund full value of ticket and compensation equal to 400% of booked one-way basic fare plus airline fuel charge, subject to maximum of Rs 20,000.

The ministry announced the draft amendments to CAR on Saturday, 11 June 2016. The ministry has invited public comments on the proposed draft amendments to CARs by 27 June 2016.

With regard to checked-in baggage charges, the ministry has proposed that the airline should restrict additional baggage charge at Rs 100 per kg for baggage between 15 to 20 kg. Director General of Civil Aviation M Sathiyavathy was quoted as saying on Saturday, 11 June 2016, that the changes in excess baggage fee norms will be implemented from 15 June 2016.

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Coal India gains as subsidiaries to buyback shares
Jun 13,2016

Meanwhile, the BSE Sensex was down 284.89 points, or 1.07%, to 26,350.86.

On BSE, so far 52,000 shares were traded in the counter, compared with an average volume of 3.28 crore shares in the past one quarter. The stock hit a high of Rs 310.70 and a low of Rs 304.80 so far during the day. The stock hit a record high of Rs 447.25 on 5 August 2015. The stock hit a 52-week low of Rs 272.05 on 12 April 2016. The stock had outperformed the market over the past one month till 10 June 2016, rising 8.17% compared with 3.28% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 3.73% as against Sensexs 7.76% rise.

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

Coal India announced on Sunday, 12 June 2016, that two of its subsidiaries - Mahanadi Coalfields and Northern Coalfields - will buyback total shares worth around Rs 1978 crore from their shareholders.

The board of directors of Northern Coalfields (NGL) approved buyback of 4.01 lakh fully paid equity shares, or 22.62% equity, of face value of Rs 1000 each from the members of NGL on a proportionate basis through tender offer for an aggregate amount not exceeding Rs 948.72 crore. The shares will be purchased at Rs. 23,610.04 each.

The board of directors of Mahanadi Coalfields (MCL) approved buyback of 4.43 lakh fully paid equity shares, or 23.82% equity, of face value of Rs 1000 each from the members of MCL on a proportionate basis through tender offer for an aggregate amount not exceeding Rs 1028.77 crore. The shares will be purchased at Rs 23,171.89 each.

Coal Indias consolidated net profit rose 0.2% to Rs 4247.93 crore on 0.7% decline in total income to Rs 22904.36 crore in Q4 March 2016 over Q4 March 2015.

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

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Fortis Healthcare declines after DHS slaps Rs 500-crore finen++on subsidiary
Jun 13,2016

Meanwhile, the BSE Sensex was down 286.31 points, or 1.07%, to 26,349.44.

On BSE, so far 33,000 shares were traded in the counter, compared with an average volume of 53.38 lakh shares in the past one quarter. The stock hit a high of Rs 163.80 and a low of Rs 160.10 so far during the day. The stock hit a 52-week high of Rs 199.20 on 5 August 2015. The stock hit a 52-week low of Rs 141.10 on 12 February 2016. The stock had underperformed the market over the past one month till 10 June 2016, rising 0.18% compared with 3.28% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 0.30% as against Sensexs 7.76% rise.

The mid-cap company has an equity capital of Rs 463.17 crore. Face value per share is Rs 10.

Fortis Healthcare announced after market hours on Friday, 10 June 2016, that one of its subsidiaries, Escort Heart Institute & Research Centre (EHIRCL), has received an order from The Directorate General of Health Services (DHS). The DHS has ordered to deposit Rs 503.36 crore towards recovery of unwarranted profit made by EHIRCL for alleged non-compliance of the conditions of allotment/lease of land since its allotment in 1982. EHIRCL believes that the impugned order in its view is legally flawed and untenable. The EHIRCL management will challenge the same in the High Court of Delhi or such relevant authority to seek suitable legal remedies available to it under law.

On a consolidated basis, Fortis Healthcare reported net loss of Rs 90.86 crore Q4 March 2016 as against net loss of Rs 17.53 crore in Q4 March 2015. Net sales rose 1.13% to Rs 1061.32 crore in Q4 March 2016 over Q4 March 2015.

Fortis Healthcare is a leading integrated healthcare delivery service provider in India. The healthcare verticals of the company primarily comprise hospitals, diagnostics and day care specialty facilities.

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Yes Bank gains as RBI clears increase in ceiling on investment by FIIs
Jun 13,2016

Meanwhile, the S&P BSE Sensex was off 281.56 points or 1.06% at 26,354.19.

On BSE, so far 55,853 shares were traded in the counter as against average daily volume of 3.14 lakh shares in the past one quarter. The stock hit a high of Rs 1,072 and a low of Rs 1,053 so far during the day. The stock had hit a record high of Rs 1,085 on 7 June 2016. The stock had hit 52-week low of Rs 590 on 24 August 2015. The stock had outperformed the market over the past one month till 10 June 2016, surging 11.84% compared with the Sensexs 3.35% rise. The scrip had also outperformed the market in past one quarter, jumping 34.05% as against the Sensexs 8.17% rise.

The Reserve Bank of Indias (RBI) nod for higher ceiling on investment by foreign institutional investors (FIIs) came after Yes Banks board of directors and shareholders approved the proposal. The RBI has capped the total foreign shareholding from all sources in Yes Bank at 74% of the banks equity. Last month, the Cabinet Committee on Economic Affairs cleared Yes Banks proposal for increase in foreign investment limit in the banks equity capital to 74% from 41.87% without any sub-limits.

The large cap private sector bank has equity capital of Rs 421 crore. Face value per share is Rs 10.

Yes Banks net profit rose 27.4% to Rs 702.11 crore on 17.7% rise in total income to Rs 4331.11 crore in Q4 March 2016 over Q4 March 2015.

Yes Bank is a private sector bank with a pan India presence.

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Dr Reddys Lab gains on acquiring 8 ANDAs
Jun 13,2016

The announcement was made on Saturday, 11 June 2016.

Meanwhile, the BSE Sensex was down 254.55 points, or 0.96%, to 26,381.20.

On BSE, so far 4,217 shares were traded in the counter, compared with an average volume of 19.48 lakh shares in the past one quarter. The stock hit a high of Rs 3,095.90 and a low of Rs 3,073 so far during the day. The stock hit a record high of Rs 4,382.95 on 20 October 2015. The stock hit a 52-week low of Rs 2,750 on 21 January 2016. The stock had underperformed the market over the past one month till 10 June 2016, rising 3.05% compared with 3.28% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 4.59% as against Sensexs 7.76% rise.

The large-cap company has an equity capital of Rs 85.30 crore. Face value per share is Rs 5.

Dr Reddys Laboratories (DRL) inked a definitive agreement with Teva Pharmaceutical Industries and an affiliate of Allergan plc to acquire a portfolio of eight Abbreviated New Drug Applications (ANDAs) in the US for $350 million in cash. The acquired portfolio consists of products that are being divested by Teva as a precondition to its completion of the acquisition of Allergans generics business. The portfolio being acquired is a mix of filed ANDAs pending approval and one approved ANDA. The portfolio comprises of complex generic products across diverse dosage forms. The branded versions of these drugs had aggregate sales of about $3.5 billion in the United States for 12-month period ended April 2016, according to IMS Health data. DRL is acquiring this portfolio of drugs on a cash-free, debt-free basis and expects to finance the transaction using a combination of cash on hand and available borrowings under existing credit facilities. The acquisition of these ANDAs is contingent on the successful completion of the Teva/Allergan generics transaction and approval by the US Federal Trade Commission of DRL as a buyer.

Dr Reddys Laboratories consolidated net profit fell 85.6% to Rs 74.60 crore on 2.4% decline in total income to Rs 3792.80 crore in Q4 March 2016 over Q4 March 2015.

Dr Reddys Laboratories is an integrated global pharmaceutical company. Through its three businesses - Pharmaceutical Services & Active Ingredients, Global Generics and Proprietary Products - Dr Reddys offers a portfolio of products and services including active pharmaceutical ingredients (APIs), custom pharmaceutical services, generics, biosimilars and differentiated formulations.

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