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Glenmark Pharma gains after receiving USFDA approval for a drug
Jul 27,2016

The announcement was made before market hours today, 27 July 2016.

Meanwhile, the S&P BSE Sensex was up 189.28 points or 0.68% at 28,165.80.

On BSE, so far 6,446 shares were traded in the counter, compared with an average volume of 40,502 shares in the past one quarter. The stock hit a high of Rs 849.70 and a low of Rs 838.55 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 outperformed the market over the past one month till 26 July 2016, rising 10.43% compared with 5.98% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, advancing 1.37% as against Sensexs 7.57% rise.

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

Glenmark Pharmaceuticals announced that Glenmark Pharmaceuticals Inc., USA has been granted final approval by the United States Food & Drug Administration (USFDA) for Potassium Chloride Extended-Release Tablets USP, 10 mEq (750 mg) and 20 mEq (1500 mg), the generic version of K-Dur (Potassium Chloride) Extended-Release Tablets, 10 and 20 mEq of Merck Sharp and Dohme Corp. The generic version is no longer being marketed in the United States.

According to IMS health sales data for the 12 month period ending May 2016, the K-Dur (Potassium Chloride) Extended-Release Tablets, 10 and 20 mEq market achieved annual sales of around $283.20 million in the US.

On a consolidated basis, Glenmark Pharmaceuticals net profit jumped 1516.31% to Rs 171.49 crore on 24% rise in net sales to Rs 2174.02 crore in Q4 March 2016 over Q4 March 2015.

Glenmark Pharmaceuticals is a research-driven, global, integrated pharmaceutical organization headquartered at Mumbai, India. 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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Tata Steel gains after geting Quebec govts financial support for a project
Jul 27,2016

The announcement was made before market hours today, 27 July 2016.

Meanwhile, the S&P BSE Sensex was up 166.94 points or 0.6% at 28,143.46.

On BSE, so far 1.21 lakh shares were traded in the counter as against average daily volume of 9.13 lakh shares in the past one quarter. The stock hit a high of Rs 370.25 and a low of Rs 365.40 so far during the day. The stock had hit a 52-week high of Rs 379.25 on 18 July 2016. The stock had hit a 52-week low of Rs 200 on 29 September 2015. The stock had outperformed the market over the past one month till 26 July 2016, surging 17.65% compared with 5.98% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, advancing 2.58% as against Sensexs 7.57% rise.

The large-cap company has equity capital of Rs 971.22 crore. Face value per share is Rs 10.

Quebec government awarded financial contribution of C $175 million to Tata Steel Minerals Canada (TSMC) to support the achievement at Schefferville of a direct shipping iron ore project (DSO project) in which Tata Steel Group has invested an amount in excess of C $1 billion.

The financial contribution includes equity stake of $125 million through the Capital Mining Hydrocarbons Fund and a loan of $50 million from Investissement Qun++bec, acting as an agent of the Government.

TSMC, founded in 2010, is an indirect subsidiary of Tata Steel, with equity participation from New Millennium Iron Corp. (NML), a TSX listed company headquartered in Montreal, to develop the DSO deposits located in Quebec and Newfoundland and Labrador. TSMC forecasts annual production of over 6 million tonnes of iron ore.

Separately, Tata Steel announced after market hours yesterday, 26 July 2016 that its hot metal production rose 16.5% to 3.01 million tonnes in Q1 June 2016 over Q1 June 2015. Crude steel production rose 7.6% to 2.52 million tonnes in Q1 June 2016 over Q1 June 2015. Saleable Steel production rose 4.8% to 2.34 million tonnes in Q1 June 2016 over Q1 June 2015 and sales rose 0.1% to 2.15 million tonnes in Q1 June 2016 over Q1 June 2015.

Tata Steel reported consolidated net loss of Rs 3213.76 crore in Q4 March 2016, compared with net loss of Rs 5674.29 crore in Q4 March 2015. Net sales fell 12.5% to Rs 29164.37 crore in Q4 March 2016 over Q4 March 2015.

Tata Steel is Europes second largest steel producer, with steelmaking in the UK and Netherlands, and manufacturing plants across Europe. The combined Tata Steel group is one of the worlds largest steel producers, with a steel capacity of more than 28 million tonnes and 80,000 employees across five continents.

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Tata Steel gains after getting Quebec govts financial support for a project
Jul 27,2016

The announcement was made before market hours today, 27 July 2016.

Meanwhile, the S&P BSE Sensex was up 166.94 points or 0.6% at 28,143.46.

On BSE, so far 1.21 lakh shares were traded in the counter as against average daily volume of 9.13 lakh shares in the past one quarter. The stock hit a high of Rs 370.25 and a low of Rs 365.40 so far during the day. The stock had hit a 52-week high of Rs 379.25 on 18 July 2016. The stock had hit a 52-week low of Rs 200 on 29 September 2015. The stock had outperformed the market over the past one month till 26 July 2016, surging 17.65% compared with 5.98% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, advancing 2.58% as against Sensexs 7.57% rise.

The large-cap company has equity capital of Rs 971.22 crore. Face value per share is Rs 10.

Quebec government awarded financial contribution of C $175 million to Tata Steel Minerals Canada (TSMC) to support the achievement at Schefferville of a direct shipping iron ore project (DSO project) in which Tata Steel Group has invested an amount in excess of C $1 billion.

The financial contribution includes equity stake of $125 million through the Capital Mining Hydrocarbons Fund and a loan of $50 million from Investissement Qun++bec, acting as an agent of the Government.

TSMC, founded in 2010, is an indirect subsidiary of Tata Steel, with equity participation from New Millennium Iron Corp. (NML), a TSX listed company headquartered in Montreal, to develop the DSO deposits located in Quebec and Newfoundland and Labrador. TSMC forecasts annual production of over 6 million tonnes of iron ore.

Separately, Tata Steel announced after market hours yesterday, 26 July 2016 that its hot metal production rose 16.5% to 3.01 million tonnes in Q1 June 2016 over Q1 June 2015. Crude steel production rose 7.6% to 2.52 million tonnes in Q1 June 2016 over Q1 June 2015. Saleable Steel production rose 4.8% to 2.34 million tonnes in Q1 June 2016 over Q1 June 2015 and sales rose 0.1% to 2.15 million tonnes in Q1 June 2016 over Q1 June 2015.

Tata Steel reported consolidated net loss of Rs 3213.76 crore in Q4 March 2016, compared with net loss of Rs 5674.29 crore in Q4 March 2015. Net sales fell 12.5% to Rs 29164.37 crore in Q4 March 2016 over Q4 March 2015.

Tata Steel is Europes second largest steel producer, with steelmaking in the UK and Netherlands, and manufacturing plants across Europe. The combined Tata Steel group is one of the worlds largest steel producers, with a steel capacity of more than 28 million tonnes and 80,000 employees across five continents.

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Ambuja Cements strikes 52-week high after strong Q2 result
Jul 27,2016

The result was announced after market hours yesterday, 26 July 2016.

Meanwhile, the S&P BSE Sensex was up 136.71 points or 0.49% at 28,113.23

On BSE, so far 1.69 lakh shares were traded in the counter as against average daily volume of 2.38 lakh shares in the past one quarter. The stock hit a high of Rs 278.35 in intraday trade so far, which is 52-week high for the counter. The stock hit a low of Rs 274.20 so far during the day. The stock hit a 52-week low of Rs 185 on 29 February 2016.

The large-cap company has equity capital of Rs 310.38 crore. Face value per share is Rs 2.

Ambuja Cements operating earnings before interest, tax, depreciation and amortization (EBITDA) rose 56.5% to Rs 601 crore in Q2 June 2016 over Q2 June 2015. Cement sales volumes fell 2% to 5.76 million tonnes in Q2 June 2016 over Q2 June 2015.

Meanwhile, in its acquisition update, Ambuja Cements said that the scheme of amalgamation of Holcim India (HIPL) with the company was approved by the shareholders and High Courts of Gujarat and Delhi, in earlier years. Under the scheme, Ambuja Cement will acquire 24% equity shares of HIPL from Holderind Investments, Mauritius for a cash consideration of Rs 3500 crore, followed by a merger of HIPL with the company. On 29 May 2016, the Foreign Investment Promotion Board (FIPB) has recommended the transaction for approval of Cabinet Committee on Economic Affairs (CCEA). The CCEA on 20 July 2016 approved the acquisition of 24% shares of HIPL by the company for a cash consideration of Rs 3500 crore and subsequent reverse merger of HIPL through a share swap.

In its outlook, Ambuja Cements said that post monsoon construction activities are likely to pick up. The medium to long term outlook for cement demand remains positive considering above normal monsoon forecast this year and governments focus on housing, concrete roads, smart cities and infrastructure development, Ambuja Cements said. The company will continue to focus on improving operational efficiencies, it said.

Ambuja Cements is engaged in manufacturing and marketing cement and clinker for both domestic and exports.

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Zee Entertainment hits 52-week high after good Q1 outcome
Jul 27,2016

The result was announced after market hours yesterday, 26 July 2016.

Meanwhile, the BSE Sensex was up 98.54 points, or 0.35%, to 28,075.06

On BSE, so far 59,403 shares were traded in the counter, compared with an average volume of 1.10 lakh shares in the past one quarter. The stock hit a high of Rs 493.65 in intraday trade so far, which is 52-week high for the counter. The stock hit a low of Rs 485 so far during the day. The stock hit a 52-week low of Rs 347 on 24 August 2015.

The large-cap company has an equity capital of Rs 96.04 crore. Face value per share is Re 1.

Zee Entertainment Enterprises consolidated operating revenues rose 18.5% to Rs 1571.60 crore in Q1 June 2016 over Q1 June 2015. Advertising revenues rose 19.2% to Rs 912 crore in Q1 June 2016 over Q1 June 2015. During the quarter, domestic advertising revenues stood at Rs 841.50 crore while international advertising revenues stood at Rs 70.50 crore. Subscription revenues rose 14.2% to Rs 528.20 crore in Q1 June 2016 over Q1 June 2015. During the quarter, domestic subscription revenues stood at Rs 417.90 crore while international subscription revenues stood at Rs 110.30 crore.

Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) jumped 44.1% to Rs 453.20 crore in Q1 June 2016 over Q1 June 2015. EBITDA margin rose sharply to 28.83% in Q1 June 2016 from 23.71% in Q1 June 2015.

The company has adopted Indian Accounting Standards (Ind-AS) reporting methodology for reporting its financials commencing Q1 June 2016. Like-to-like financials for previous quarters (Q1 June 2015) have been restated accordingly.

Commenting on the results, Subhash Chandra, Chairman, Zee Entertainment Enterprises said that the advertising and subscription revenues continue to drive the companys growth.

Zee Entertainment Enterprises is one of Indias leading television media and entertainment companies.

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Dr Reddys Labs drops after reporting weak Q1 results
Jul 26,2016

The result was announced during market hours today, 26 July 2016.

Meanwhile, the BSE Sensex was down 139.41 points, or 0.5%, to 27,955.93.

On BSE, so far 1.32 lakh shares were traded in the counter, compared with an average volume of 31,000 shares in the past two weeks. The stock hit a high of Rs 3,516.95 and a low of Rs 3,305.15 so far during the day.

Dr Reddys Laboratories (DRL) consolidated net profit fell 76.28% to Rs 153.50 crore on 14.06% decline in total income to Rs 3289.50 crore in Q1 June 2016 over Q1 June 2015.

DRLs Co-chairman and CEO, GV Prasad said that the company has come through a difficult first quarter, with its top and bottom lines impacted by a decline in volume growth, particularly in the US market and the loss of business in Venezuela. DRL also faced a number of challenges in the quarter including price erosion and delayed launches as a result of the warning letter, which significantly impacted its earnings, Prasad said. However, the company continues to take actions that focus on remediation, strengthening its quality systems and executing on its strong product pipeline, Prasad said. DRL remains focused on generating long term, sustainable growth, he added.

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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ACC slips in volatile trade after declaring Q2 result
Jul 26,2016

The result was announced during market hours today, 26 July 2016.

Meanwhile, the S&P BSE Sensex was down 68.55 points or 0.24% at 28,026.79

On BSE, so far 79,078 shares were traded in the counter as against average daily volume of 22,075 shares in the past one quarter. The stock was volatile. The stock rose as much as 2% at the days high of Rs 1,711.75 so far during the day. The stock fell as much as 1.01% at the days low of Rs 1,661 so far during the day. The stock had hit a 52-week high of Rs 1,716.75 on 21 July 2016. The stock had hit a 52-week low of Rs 1,173.25 on 29 February 2016. The stock had outperformed the market over the past one month till 25 July 2016, rising 7.29% compared with Sensexs 6.43% rise. The scrip also outperformed the market in past one quarter, gaining 17.95% as against Sensexs 9.41% rise.

The large-cap company has equity capital of Rs 187.79 crore. Face value per share is Rs 10.

ACCs consolidated operating earnings before interest, tax, depreciation and amortization (EBITDA) rose 36.5% to Rs 457.56 crore in Q2 June 2016 over Q2 June 2015. Cement sales volumes fell 1.3% to 6.12 million tonnes in Q2 June 2016 over Q2 June 2015 mainly due to muted demand in some markets.

ACC said that commercial production of clinker from the new 9,000 tpd kiln at Jamul commenced from 19 July 2016. The cement grinding units linked to this project located at Jamul and Sindri are scheduled to be commissioned in Q3 September 2016.

In its outlook, ACC that the company will continue to maintain its focus on reducing costs. The company expects that stabilization of the Jamul Integrated Project will help in increasing the companys presence in the fast growing East markets, as well as the overall profitability, ACC said. Prospects of a good monsoon, coupled with the impetus from governments thrust on infrastructure development, housing and other mega projects are also factors that are expected to have a positive impact on the overall momentum of construction activity in the caning quarters, the company said.

ACC is a manufacturer of cement and ready mixed concrete with a countrywide network of factories and sales offices.

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Maruti Suzuki declines in volatile trade despite announcing decent Q1 results
Jul 26,2016

The result was announced during market hours today, 26 July 2016.

Meanwhile, the BSE Sensex was down 82.29 points, or 0.29%, to 28,013.05.

More than usual volumes were traded on the counter. On BSE, so far 1.3 lakh shares were traded in the counter, compared with an average volume of 77,137 shares in the past one quarter. The stock was volatile. At the days high of Rs 4,584.95, the stock rose 0.75%. At the days low of Rs 4,488 hit so far during the day, the stock declined 1.37%. The stock hit a record high of Rs 4,789 on 23 November 2015. The stock 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 25 July 2016, rising 11.83% compared with 6.43% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 21.86% as against Sensexs 9.41% rise.

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

Maruti Suzuki India said that higher profit in Q1 June 2016 was helped by a higher turnover, material cost reduction, higher non-operating income and lower depreciation. Adverse foreign exchange movement reduced profits to some extent.

The company said that the unfortunate incident of fire at a key vendor of the company resulted in lower sales in June 2016. The company hopes to recover the lost sales during the course of the year.

Maruti Suzuki India 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 30 June 2016).

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Maruti Suzuki drops after announcing Q1 results
Jul 26,2016

The result was announced during market hours today, 26 July 2016.

Meanwhile, the BSE Sensex was up 17.42 points, or 0.06%, to 28,112.76.

More than usual volumes were traded on the counter. On BSE, so far 1.24 lakh shares were traded in the counter, compared with an average volume of 77,137 shares in the past one quarter. The stock hit a high of Rs 4,584.95 and a low of Rs 4,488 so far during the day. The stock hit a record high of Rs 4,789 on 23 November 2015. The stock 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 25 July 2016, rising 11.83% compared with 6.43% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 21.86% as against Sensexs 9.41% rise.

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

Maruti Suzuki India 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 30 June 2016).

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ACC gains in volatile trade after declaring Q2 result
Jul 26,2016

The result was announced during market hours today, 26 July 2016.

Meanwhile, the S&P BSE Sensex was up 12.53 points or 0.04% at 28,107.87

On BSE, so far 71,353 shares were traded in the counter as against average daily volume of 22,075 shares in the past one quarter. The stock was volatile. The stock rose as much as 2% at the days high of Rs 1,711.75 so far during the day. The stock fell as much as 1.01% at the days low of Rs 1,661 so far during the day. The stock had hit a 52-week high of Rs 1,716.75 on 21 July 2016. The stock had hit a 52-week low of Rs 1,173.25 on 29 February 2016. The stock had outperformed the market over the past one month till 25 July 2016, rising 7.29% compared with Sensexs 6.43% rise. The scrip also outperformed the market in past one quarter, gaining 17.95% as against Sensexs 9.41% rise.

The large-cap company has equity capital of Rs 187.79 crore. Face value per share is Rs 10.

ACC is a manufacturer of cement and ready mixed concrete with a countrywide network of factories and sales offices.

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Shilpa Medicare surges on USFDA nod for Jadcherla unit
Jul 26,2016

The announcement was made during market hours today, 26 July 2016.

High volumes were witnessed on the counter. On BSE, so far 78,119 shares were traded in the counter, compared with an average volume of 19,845 shares in the past one quarter. The stock hit a high of Rs 612.20 and a low of Rs 560.45 so far during the day. The stock hit a record high of Rs 623.35 on 5 August 2015. The stock hit a 52-week low of Rs 355 on 20 January 2016. The stock had outperformed the market over the past one month till 25 July 2016, rising 19.73% compared with 6.43% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 16.58% as against Sensexs 9.41% rise.

The mid-cap company has an equity capital of Rs 7.71 crore. Face value per share is Re 1.

Shilpa Medicare announced that it has not received form 483 for its SEZ Formulations facility situated at Jadcherla, near Hyderabad from the United States Food & Drug Administration (USFDA) after the audit was conducted by the USFDA at the facility from 18 July 2016 to 26 July 2016.

An FDA Form 483 is issued to firm management at the conclusion of an inspection when an investigators has observed any conditions that in their judgement may constitute violations of the Food Drug and Cosmetic (FD&C) Act and related Acts.

On a consolidated basis, Shilpa Medicares net profit rose 66.8% to Rs 37.47 crore on 19% rise in net sales to Rs 198.48 crore in Q4 March 2016 over Q4 March 2015.

Shilpa Medicare is engaged in the business of bulk drugs manufacturing.

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K G Denim scales record high after announcing strong Q1 result
Jul 26,2016

The Q1 result was announced after trading hours yesterday, 25 July 2016.

Meanwhile, the S&P BSE Sensex was up 28.40 points or 0.1% at 28,123.74

On BSE, so far 4.89 lakh shares were traded in the counter as against average daily volume of 34,428 shares in past one quarter. The stock hit a high of Rs 109.70 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 98 so far during the day. The stock had hit a 52-week low of Rs 34 on 8 September 2015. The stock had outperformed the market over the past one month till 25 July 2016, rising 18% compared with Sensexs 6.43% rise. The scrip also outperformed the market in past one quarter, gaining 11.66% as against Sensexs 9.41% rise.

The small-cap company has equity capital of Rs 25.65 crore. Face value per share is Rs 10.

K G Denim is a premier denim and apparel fabric manufacturer, catering to leading fashion brands and retailers worldwide.

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Volumes jump at Bajaj Finance counter
Jul 26,2016

Bajaj Finance clocked volume of 2.31 lakh shares by 14:00 IST on BSE, a 30.3-times surge over two-week average daily volume of 8,000 shares. The stock surged 9.24% at Rs 9,808 after net profit rose 53.82% to Rs 423.99 crore on 38.96% rise in total income to Rs 2301.06 crore in Q1 June 2016 over Q1 June 2015. The result was announced during market hours today, 26 July 2016. Separately, Bajaj Finance announced that the board of directors of the company at its meeting held today, 26 July 2016, approved 5 for 1 stock split. Bajaj Finance also announced that the board of directors of the company at its meeting held today, 26 July 2016, approved 1:1 bonus issue after adjustment for subdivision of shares.

Atul notched up volume of 1.34 lakh shares, a 14.4-fold surge over two-week average daily volume of 9,000 shares. The stock dropped 3.49% at Rs 2,007.

K G Denim saw volume of 4.8 lakh shares, a 9.51-fold surge over two-week average daily volume of 50,000 shares. The stock jumped 8.8% at Rs 99.50.

Muthoot Finance saw volume of 2.92 lakh shares, a 7.62-fold rise over two-week average daily volume of 38,000 shares. The stock rose 4.44% at Rs 290.40 after the company said that it proposed to issue secured redeemable non-convertible debentures of Rs 100 crore, with a green shoe option of Rs 50 crore, aggregating to Rs 150 crore on private placement basis. Proposed date of allotment for the above issue will be on 28 July 2016. The announcement was made after trading hours yesterday, 25 July 2016.

Claris Lifesciences clocked volume of 5.18 lakh shares, a 7.33-fold surge over two-week average daily volume of 71,000 shares. The stock declined 0.44% at Rs 249.95.

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HCC gains after new order win
Jul 26,2016

The announcement was made during market hours today, 26 July 2016.

Meanwhile, the S&P BSE Sensex was up 30.06 points or 0.11% at 28,125.40

On BSE, so far 12.87 lakh shares were traded in the counter as against average daily volume of 8.13 lakh shares in the past one quarter. The stock hit a high of Rs 24.75 and a low of Rs 23.30 so far during the day. The stock had hit a 52-week high of Rs 29.20 on 21 October 2015. The stock had hit a 52-week low of Rs 16.35 on 25 August 2015. The stock had outperformed the market over the past one month till 25 July 2016, rising 24.15% compared with Sensexs 6.43% rise. The scrip, however, underperformed the market in past one quarter, gaining 8.24% as against Sensexs 9.41% rise.

The small-cap company has equity capital of Rs 77.92 crore. Face value per share is Re 1.

Hindustan Construction Company (HCC) won contract from IRCON International to construct two tunnels and a bridge on Katra - Banihal Section of Udhampur n++ Srinagar n++ Baramulla New BG Railway Line Project. The project will be completed in 30 months. HCC said. The contract involves construction of two main tunnels totaling 12.8 km along with parallel safety tunnels, a 200 m bridge adjoining these two tunnels and a station yard at Basindadhar, the company said.

IRCON International, an autonomous constructing agency for the Indian Railways, was entrusted with the task to construct of Baramulla to Dharam section of the Udhampur n++Srinagar n++ Baramulla rail link. The railway line from Baramulla to Quazigund (119 km) was operational for public since October 2009. The Pir Panjal tunnel constructed between Quazigund and Banihal was inaugurated in July 2013, extending the train service till Banihal.

HCCs net profit declined 7.3% to Rs 19.14 crore on 4.6% growth in net sales to Rs 1171.88 crore in Q4 March 2016 over Q4 March 2015.

HCC is into infrastructure development in transportation, power and water segments. HCC is developing a planned hill city named Lavasa near Pune in Maharashtra.

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Bajaj Finance gains after announcing strong Q1 results, bonus issue and stock split
Jul 26,2016

The result was announced during market hours today, 26 July 2016.

Meanwhile, the BSE Sensex was up 28.06 points, or 0.1% to 28,128.80.

High volumes were witnessed ion the counter. On BSE, so far 19,492 shares were traded in the counter as against average daily volume of 7,404 shares in the past one quarter. The stock hit a high of Rs 9,383.75 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 8,900 so far during the day. The stock had hit a 52-week low of Rs 4,678 on 23 September 2015. The stock had outperformed the market over the past one month till 25 July 2016, rising 18.44% compared with 6.43% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 31.07% as against Sensexs 9.41% rise.

The large-cap company has equity capital of Rs 53.87 crore. Face value per share is Rs 10.

Bajaj Finance said that the customers acquired by the company rose 48% to 25.40 lakhs in Q1 June 2016 over Q1 June 2015. Asset under management (AUM) rose 40% to Rs 49608 crore as of 30 June 2016 from Rs 35557 crore as of 30 June 2015. Loan losses and provisions rose 75% to Rs 180 crore in Q1 June 2016 over Q1 June 2015. During Q1 June 2016, the company made an additional provision of Rs 19.10 crore in its mortgage portfolio. Adjusted to mortgage portfolio, loan losses and provisions rose 56%. The provisioning coverage ratio stood at 73% as of 30 June 2016.

Separately, Bajaj Finance announced that the board of directors of the company at its meeting held today, 26 July 2016, approved 5 for 1 stock split.

Bajaj Finance also announced that the board of directors of the company at its meeting held today, 26 July 2016, approved 1:1 bonus issue after adjustment for subdivision of shares.

Bajaj Finance is a diversified non-banking financial company.

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