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Wipro inches up after securing contract
Jul 21,2016

The announcement was made after market hours yesterday, 20 July 2016.

Meanwhile, the S&P BSE Sensex was down 22.40 points or 0.08% at 27,893.49.

On BSE, so far 13.78 lakh shares were traded in the counter as against average daily volume of 2.36 lakh shares in the past one quarter. The stock rose as much as 1.18% at the days high of Rs 545 so far during the day. The stock rose 0.07% at the days low of Rs 539 so far during the day. The stock had hit a 52-week high of Rs 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 20 July 2016, sliding 3.29% compared with Sensexs 3.9% rise. The scrip had also underperformed the market in past one quarter, declining 10.43% as against Sensexs 8.02% rise.

The large-cap company has equity capital of Rs 494.15 crore. Face value per share is Rs 2.

Wipro announced that it has entered into a seven-year strategic IT and business transformation partnership with Greater Toronto Airports Authority (GTAA).

GTAA operates Toronto Pearson International Airport, the largest airport in Canada and the second largest in North America in terms of international traffic.

On consolidated basis, Wipros net profit fell 8.32% to Rs 2051.90 crore on 0.32% decline in net sales to Rs 13697.60 crore in Q1 June 2016 over Q4 March 2016.

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

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L&T Infotech falls below IPO price on debut
Jul 21,2016

Meanwhile, the S&P BSE Sensex was down 30.64 points or 0.11% at 27,885.25.

The stock debuted at Rs 666.60, a discount of 6.11% compared with the intial public offer (IPO) price. The stock hit a high of Rs 709.55 and a low of Rs 666 so far during the day. On BSE, so far 12.26 lakh shares were traded in the counter.

Larsen & Toubro Infotech (L&T Infotech) had priced its IPO at Rs 710 per share -- the top end of the Rs 705-710 per share price band for the IPO. The IPO received strong response from investors. The companys promoter and engineering & construction major L&T sold a part of its stake through the IPO of L&T Infotech.

L&T Infotech offers an extensive range of IT services to clients in diverse industries such as banking and financial services, insurance, energy and process, consumer packaged goods, retail and pharmaceuticals, media and entertainment, hi-tech and consumer electronics and automotive and aerospace.

Based on consolidated financial performance, the companys net profit rose 19.89% to Rs 922.17 crore on 17.45% growth in revenue from operations to Rs 5847.06 crore in the year ended 31 March 2016 over the year ended 31 March 2015.

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Neyveli Lignite Corporation jumps after Cabinet approval for its power project
Jul 21,2016

The announcement was made after market hours yesterday, 20 July 2016.

Meanwhile, the BSE Sensex was down 33.73 points, or 0.12%, to 27,882.16.

High volume was witnessed on the counter. On BSE, so far 1.63 lakh shares were traded in the counter, compared with an average volume of 26,923 shares in the past one quarter. The stock hit a high of Rs 80.90 and a low of Rs 77 so far during the day. The stock hit a 52-week high of Rs 94.25 on 7 August 2015. The stock hit a 52-week low of Rs 60.35 on 1 March 2016. The stock had underperformed the market over the past one month till 20 July 2016, advancing 3.29% compared with Sensexs 3.9% rise. The scrip had also underperformed the market in past one quarter, gaining 3.87% as against Sensexs 8.02% rise.

The large-cap company has an equity capital of Rs 1677.71 crore. Face value per share is Rs 10.

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, has given its approval for installation of Ghatampur Thermal Power Project (GTPC) of 1980 megawatts (MW) (3X660 MW) capacity through a joint venture company named Neyveli Uttar Pradesh Power (NUPPL) formed jointly by Neyveli Lignite Corporation (NLC) and Uttar Pradesh Rajya Vidyut Utpadan Nigam (UPRVUNL).

The project will be implemented at an estimated cost of Rs 17237.80 crore including interest during construction component of Rs 3202.42 crore. The commissioning of Unit I, II and III of the project will be in 52 months, 58 months and 64 months respectively from starting date. The benefits of this generation will be available in the XIII Five Year Plan. The energy generated by the GTPS of about 14000 MU/annum will mainly be supplied to Uttar Pradesh.

Ministry of Coal had allotted Pachwara South coal block in Jharkhand state for meeting the coal requirement of the GTPS.

Neyveli Lignite Corporations net profit declined 34.1% to Rs 446.24 crore on 10.2% rise in net sales to Rs 1854.15 crore in Q4 March 2016 over Q4 March 2015.

Neyveli Lignite Corporation (NLC) operates lignite mines, pithead thermal power stations and also has operations in renewable energy sector. As per the shareholding pattern as on 30 June 2016, the Government of India held 90% stake in the company.

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Ambuja Cements gains after Cabinet nod to buy 24% stake in Holcim (India)
Jul 21,2016

The announcement was made after market hours yesterday, 20 July 2016.

Meanwhile, the S&P BSE Sensex was down 35.47 points or 0.13% at 27,880.42.

On BSE, so far 40,714 shares were traded in the counter as against average daily volume of 2.35 lakh shares in the past one quarter. The stock hit a high of Rs 267.40, which is also a 52-week high for the stock. The stock hit a low of Rs 263.10 so far during the day. The stock had hit a 52-week low of Rs 185 on 29 February 2016. The stock had outperformed the market over the past one month till 20 July 2016, advancing 8.64% compared with Sensexs 3.9% rise. The scrip had also outperformed the market in past one quarter, gaining 15.89% as against Sensexs 8.02% rise.

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

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, yesterday, 20 July 2016 approved the proposal for Ambuja Cements for acquisition of 24% shares in its holding company-Holcim (India) from Holderind Investment and subsequent reverse merger through a share swap. This would entail outflow of Rs 3500 crore.

These transactions would enable Lafarge Holcim group to create a linear corporate structure of Indian operations through its subsidiary ACC and a parent Ambuja Cements, with a view to harvest significant synergies from India operations. This will further strengthen all India footprints, debt free balance sheet and cash flow generation for Lafarge Holcim group, bringing in huge prospects for further expansion and creation of employment opportunities.

Holcim (India) holds 9.71% and Holderind Investments holds 40.57% stake in Ambuja Cements (as per the shareholding pattern as on 30 June 2016). Holcim (India) holds 50.05% and Holderind Investments holds 0.29% stake in ACC (as per the shareholding pattern as on 30 June 2016).

Swiss cement major Holcim in 2013, announced a major restructuring of its India operations. Ambuja Cements in 2013, approved a proposal, wherein Ambuja will first acquire from Holderind Investments, Mauritius (Holcim), a 24% stake in Holcim India for a cash consideration of Rs 3500 crore, followed by a merger of Holcim India into Ambuja. Based on the approved merger ratio, Ambuja will issue 58.4 crore new equity shares of the company to Holcim, as consideration for the merger. Post the merger, the expanded capital base of Ambuja (post cancellation of the shares held by Holcim India in Ambuja and the issuance of new shares as aforesaid) will increase by 28%. Holcim will then own 61.39% of Ambuja and Ambuja in turn own 50.01% of ACC.

Such a change in structure was the outcome of Lafarge SA and Holcim Group wanting to restructure their businesses in India after their global merger in 2014 to form a merged entity, LafargeHolcim. LafargeHolcim announced on 11 July 2016, that it has entered into an agreement with Nirma for the divestment of the formers interest in Lafarge India for an enterprise value of about $1.4 billion.

Ambuja Cements net profit fell 4.4% to Rs 303.76 crore on 0.3% decline in net sales to Rs 2418.30 crore in Q1 March 2016 over Q1 March 2015.

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

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VRL Logistics spurts as promoters drop airline business plan
Jul 21,2016

The announcement was made after market hours yesterday, 20 July 2016.

Meanwhile, the S&P BSE Sensex was down 9.36 points or 0.03% at 27,906.53.

On BSE, so far 4.50 lakh shares were traded in the counter as against average daily volume of 2.41 lakh shares in the past one quarter. The stock hit a high of Rs 377.50 and a low of Rs 351.95 so far during the day. The stock had hit a record high of Rs 478.70 on 1 September 2015. The stock had hit a record low of Rs 253 on 25 May 2016. The stock had underperformed the market over the past one month till 20 July 2016, advancing 3.79% compared with Sensexs 3.9% rise. The scrip had also underperformed the market in past one quarter, sliding 23.3% as against Sensexs 8.02% rise.

The small-cap company has equity capital of Rs 91.24 crore. Face value per share is Rs 10.

VRL Logistics promoters Vijay Sankeshwar and Anand Sankeshwar had earlier expressed their intention of commencing a regional airline. Subsequently, there have been several developments including the announcement of the new aviation policy by the Centre. VRL Logistics promoters said that the regional connectivity related aspects listed in the aviation policy do not augur well with their planned business model envisaged for the proposed activity. Hence, the promoters have decided to drop the plans for an entry into the civil aviation space.

VRL Logistics net profit declined 31.8% to Rs 13.21 crore on 4.5% growth in net sales to Rs 411.92 crore in Q4 March 2016 over Q4 March 2015.

VRL Logistics is one of the leading pan-India surface logistics and parcel delivery service providers.

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Gokaldas Exports declines as Blackstone offloads bulk shares
Jul 21,2016

Meanwhile, the S&P BSE Sensex was down 22.34 points or 0.08% at 27,893.55.

On BSE, so far 66,000 shares were traded in the counter as against average daily volume of 2.35 lakh shares in the past one quarter. The stock hit a high of Rs 111.70 and a low of Rs 105.40 so far during the day. The stock had hit a 52-week low of Rs 40.45 on 12 February 2016. The stock had hit a 52-week high of Rs 134.20 on 10 June 2016. The stock had underperformed the market over the past one month till 20 July 2016, advancing 0.5% compared with Sensexs 3.9% rise. The scrip had, however, outperformed the market in past one quarter, gaining 52.51% as against Sensexs 8.02% rise.

The small-cap company has equity capital of Rs 17.44 crore. Face value per share is Rs 5.

Gokaldas Exports net profit rose 17% to Rs 40.77 crore on 23.2% growth in net sales to Rs 292.52 crore in Q4 March 2016 over Q4 March 2015.

Gokaldas Exports manufactures and exports readymade garments.

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Hindustan Zinc drops after reporting weak Q1 results
Jul 21,2016

The result was announced after market hours yesterday, 20 July 2016.

Meanwhile, the BSE Sensex was up 31.50 points, or 0.11%, to 27,940.51.

On BSE, so far 32,346 shares were traded in the counter, compared with an average volume of 1.23 lakh shares in the past one quarter. The stock hit a high of Rs 192.45 and a low of Rs 187.95 so far during the day.

The large-cap company has an equity capital of Rs 845.06 crore. Face value per share is Rs 2.

Hindustan Zinc said that the decrease in revenues was on account of lower volumes, primarily zinc, and lower LME prices partly offset by higher rupee depreciation and higher silver price. The zinc metal cost of production per metric tonne before royalty (COP) in Q1 June 2016 increased Rs 62138 in line with production plan of lower volumes from Rampura Agucha open cast mine in the current quarter and thus lower average grades. This was partly offset by lower coal & commodity prices, cost optimization projects in procurement & commercial and higher by-product credits. The COP indollar terms will be better in the year ending 31 March 2017 (FY 2017) compared to previous year. The fall in revenue and rise in cost of production resulted in a 33% decline in earnings before interest, taxes, depreciation and amortization (EBITDA) to Rs 1130 crore in Q1 June 2016 over Q1 June 2015.

The smaller investment corpus on account of dividend pay-out in the beginning of the quarter led to lower investment income, which along with higher tax rate and higher depreciation resulted in fall in net profit.

Mr. Agnivesh Agarwal, Chairman of Hindustan Zinc said that in line with strong zinc fundamentals and companys expectations, zinc prices surged 14% in Q1 June 2016 over Q1 June 2015, making it the best performing base metal. The company also witnessed a rally in silver prices, which along with increasing volumes is accentuating its contribution to profits, havingreached almost 20% at present. The transition to underground mining is progressing well with robust mine development, especially during last few months. Production from underground mines has also ramped up significantly, he added.

Hindustan Zinc is a subsidiary of Vedanta (formerly known as Sesa Sterlite), a part of London listed Vedanta Resources plc, a global diversified natural resources company. The company is one of the largest integrated producers of zinc-lead and a leading producer of silver. As per the shareholding pattern, Vedanta holds 64.92% stake and the Government of India holds 29.54% stake in Hindustan Zinc as at 30 June 2016.

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New export order boosts SSWL
Jul 20,2016

The announcement was made during market hours today, 20 July 2016.

Meanwhile, the S&P BSE Sensex was up 122.49 points or 0.44% at 27,910.11.

On BSE, so far 14,000 shares were traded in the counter as against average daily volume of 9,131 shares in the past one quarter. The stock hit a high of Rs 488 and a low of Rs 469 so far during the day. The stock had hit a record high of Rs 495 on 15 July 2016. The stock had hit a 52-week low of Rs 284 on 17 February 2016. The stock had outperformed the market over the past one month till 19 July 2016, advancing 7.26% compared with Sensexs 4.36% rise. The scrip had also outperformed the market in past one quarter, gaining 22.39% as against Sensexs 7.64% rise.

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

Steel Strips Wheels (SSWL) said it has secured its maiden export order from Mobius Motors, Kenya. Supplies would be executed from the companys Dappar plant in Punjab. SSWL, which is already supplying wheels to Morocco and Egypt, aims to further increase its presence in the African continent. Recent order from Kenya supports this strategy, SSWL said.

SSWLs net profit rose 55.1% to Rs 18.49 crore on 5.1% growth in net sales to Rs 308.88 crore in Q4 March 2016 over Q4 March 2015.

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

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Bhel gains after commissioning a unit of power project
Jul 20,2016

The announcement was made during market hours today, 20 July 2016.

Meanwhile, the S&P BSE Sensex was up 122.71 points or 0.44% at 27,910.33.

On BSE, so far 6.1 lakh shares were traded in the counter as against average daily volume of 8.24 lakh shares in the past one quarter. The stock hit a high of Rs 143.45 and a low of Rs 139.65 so far during the day. The stock had hit a 52-week high of Rs 289.85 on 21 July 2015. The stock had hit a 52-week low of Rs 90.40 on 29 February 2016. The stock had outperformed the market over the past one month till 19 July 2016, advancing 14.06% compared with Sensexs 4.36% rise. The scrip had, however, underperformed the market in past one quarter, gaining 5.4% as against Sensexs 7.64% rise.

The large-cap company has equity capital of Rs 489.52 crore. Face value per share is Rs 2.

Bharat Heavy Electricals (Bhel) has successfully commissioned the third unit of the 160 megawatts (MW) Teesta Low Dam Hydro Electric Project (HEP) Stage-IV in West Bengal. The greenfield project located in Darjeeling district of West Bengal, Teesta HEP is being set up by National Hydroelectric Power Corporation (NHPC), on the River Teesta. The fourth and final unit of the project is also in advanced stages of execution. The order for electrical & mechanical (E&M) works for four units of 40 MW each was placed on Bhel by NHPC.

Bhel is presently executing hydro electric projects of around 3,300 MW in the country which are under various stage of implementation. Other projects of NHPC currently under execution by Bhel are the 800 MW Parbati HEP Stage - II and 330 MW Kishanganga HEP. In West Bengal, Bhel is also executing the 120 MW Rammam Stage-III hydro-electric project of NTPC. Significantly, more than 500 hydro generating sets with a cumulative capacity of more than 29,000 MW of various ratings have been contracted on Bhel in India and abroad. Of this, equipment for about 5,700 MW generating capacity has been contracted outside India.

Bhels net profit fell 59.5% to Rs 359.58 crore on 20.8% fall in net sales to Rs 9792.04 crore in Q4 March 2016 over Q4 March 2015.

State-run Bharat Heavy Electricals (Bhel) is an integrated power plant equipment manufacturer. It is one of the largest engineering and manufacturing companies in India engaged in the design, engineering, manufacture, construction, testing, commissioning and servicing of a wide range of products and services for core sectors of the economy, viz. power, transmission, industry, railways, renewable energy, oil & gas, water and defence. The Government of India currently holds 63.06% stake in Bhel (as per the shareholding pattern as on 30 June 2016)

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ACC gains after commencing commercial production at clinker facility
Jul 20,2016

The announcement was made during market hours today, 20 July 2016.

Meanwhile, the S&P BSE Sensex was up 116.39 points or 0.42% at 27,904.01.

On BSE, so far 17,000 shares were traded in the counter as against average daily volume of 19,056 shares in the past one quarter. The stock hit a high of Rs 1,633.40 and a low of Rs 1,604 so far during the day. The stock had hit a 52-week high of Rs 1,640 on 15 July 2016. The stock had hit a 52-week low of Rs 1,173.25 on 29 February 2016. The stock had underperformed the market over the past one month till 19 July 2016, advancing 3.36% compared with Sensexs 4.36% rise. The scrip had, however, outperformed the market in past one quarter, gaining 9.51% as against Sensexs 7.64% rise.

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

ACC said that two new cement grinding facilities, one each at Jamul in Chhattisgarh and Sindri in Jharkhand, which form part of this integrated project, are expected to be commissioned within third quarter of 2016. This project will facilitate the company in serving its expanding customer base in the fast-growing market in East India, offering premium quality products like ACC F2R (Foundation to Roof), ACC Plus and Hi-performance PSC cements for complete concreting solutions, ACC said in a statement.

ACC is scheduled to announce its Q2 June 2016 results on 26 July 2016. The companys consolidated net profit fell 4.1% to Rs 226.95 crore on 1.5% growth in net sales to Rs 2927.38 crore in Q1 March 2016 over Q1 March 2015.

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

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Greenply Industries gains after incorporating step-down subsidiary in Africa
Jul 20,2016

The announcement was made during market hours today, 20 July 2016.

Meanwhile, the S&P BSE Sensex was up 104.17 points or 0.37% at 27,891.79.

On BSE, so far 12,543 shares were traded in the counter as against average daily volume of 12,049 shares in the past one quarter. The stock hit a high of Rs 274.30 and a low of Rs 264.20 so far during the day. The stock had hit a record high of Rs 297.50 on 15 July 2016. The stock had hit a 52-week low of Rs 152 on 18 January 2016. The stock had outperformed the market over the past one month till 19 July 2016, gaining 6.65% compared with Sensexs 4.36% rise. The scrip had also outperformed the market in past one quarter, gaining 36.41% as against Sensexs 7.64% rise.

The mid-cap company has equity capital of Rs 12.07 crore. Face value per share is Rs 1.

In May this year, Greenply Industries board of directors had approved incorporation of step-down subsidiary in Gabon to manage and control the veneer, lumber and panel products manufacturing unit at Nkok SEZ, Gabon, West Africa. The board had also approved to set up the unit in Gabon on that day.

Greenply Industries net profit fell 92.4% to Rs 1.08 crore on 5.7% growth in net sales to Rs 452.83 crore in Q4 March 2016 over Q4 March 2015.

Greenply Industries is into manufacturing and marketing of a wide range of interior infrastructure products.

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Anant Raj hits 52-week high after boards nod for demerger proposals
Jul 20,2016

The announcement was made after market hours yesterday, 19 July 2016.

Meanwhile, the S&P BSE Sensex was up 76.76 points or 0.28% at 27,864.38.

The stock spurted on heavy volumes. On BSE, so far 20.73 lakh shares were traded in the counter as against average daily volume of 3.15 lakh shares in the past one quarter. The stock hit a high of Rs 55.70 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 51.50 so far during the day. The stock had hit a 52-week low of Rs 27.55 on 26 February 2016. The stock had underperformed the market over the past one month till 19 July 2016, sliding 5.05% compared with Sensexs 4.36% rise. The scrip had, however, outperformed the market in past one quarter, gaining 31.06% as against Sensexs 7.64% rise.

The small-cap company has equity capital of Rs 59.02 crore. Face value per share is Rs 2.

Anant Rajs board approved demerger of real estate division of Anant Raj Agencies (ARAPL) into Tauras Promoters & Developers (TPDPL) and subsequent amalgamation of remaining ARAPL with the company. The Board also approved demerger of project division of the company into Anant Raj Global (ARGL) and subsequent listing of ARGL at Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE). These demerger schemes are subject to necessary approvals.

On consolidated basis, Anant Rajs net profit fell 27.9% to Rs 12.33 crore on 20% decline in net sales to Rs 116.23 crore in Q4 March 2016 over Q4 March 2015.

Anant Raj Group is one of the leading construction and infrastructure developers in North India.

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Volumes jump at PI Industries counter
Jul 20,2016

PI Industries clocked volume of 4.21 lakh shares by 13:23 IST on BSE, a 54.72-times surge over two-week average daily volume of 8,000 shares. The stock fell 1.09% at Rs 727.65.

Bajaj Finserv notched up volume of 7.04 lakh shares, a 33.03-fold surge over two-week average daily volume of 21,000 shares. The stock rose 0.1% at Rs 2,499.30.

Info Edge (India) saw volume of 1.48 lakh shares, a 26.47-fold surge over two-week average daily volume of 6,000 shares. The stock was up 0.63% at Rs 827.55.

Page Industries clocked volume of 12,000 shares, a 14.23-fold surge over two-week average daily volume of 1,000 shares. The stock rose 1.4% at Rs 13,471.80.

Apollo Hospitals Enterprise saw volume of 1.27 lakh shares, a 13.84-fold rise over two-week average daily volume of 9,000 shares. The stock fell 0.86% at Rs 1,330.25.

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63 moons hits 52-week low
Jul 20,2016

Meanwhile, the S&P BSE Sensex was up 75.79 points or 0.27% at 27,863.41.

On BSE, so far 7.96 lakh shares were traded in the counter as against average daily volume of 1.38 lakh shares in the past one quarter. The stock hit a low of Rs 70.20 so far during the day, which is a 52-week low for the counter. The stock hit a high of Rs 81.95 so far during the day. The stock had hit a 52-week high of Rs 169.60 on 6 August 2015. The stock had underperformed the market over the past one month till 19 July 2016, sliding 1.78% compared with Sensexs 4.36% rise. The scrip had also underperformed the market in past one quarter, declining 6.57% as against Sensexs 7.64% rise.

The small-cap company has equity capital of Rs 9.22 crore. Face value per share is Rs 2.

63 moons technologies (formerly Financial Technologies (India)) in a clarification issued to the stock exchanges after market hours yesterday, 19 July 2016 said that it has received a letter from the Economic Offences Wing (EOW) dated 18 July 2016, securing assets of the company. 63 moons said it will take all legal remedies to protect the interest of its shareholders and employees. There is no legal basis for the action from EOW and the company will be moving court soon on the letter from EOW, 63 moons said in a statement.

It may be recalled that the Enforcement Directorate, Mumbai had last week placed 63 moons technologies promoter Jignesh Shah under arrest.

63 moons technologies reported net loss of Rs 39.31 crore in Q4 March 2016, higher than net loss of Rs 5.66 crore in Q4 March 2015. Net sales declined 24.8% to Rs 31.62 crore in Q4 March 2016 over Q4 March 2015.

63 moons technologies is among the global leaders in offering technology IP (Intellectual Property) and domain expertise to create and trade on next generation financial markets. It is a global leader in creating and operating next-generation tech-centric financial exchanges.

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Sun Pharma gains after receiving USFDA nod for generic drug
Jul 20,2016

The announcement was made during market hours today, 20 July 2016.

Meanwhile, the BSE Sensex was up 388.78 points, or 1.43%, to 27,515.68.

On BSE, so far 55,127 shares were traded in the counter, compared with average daily volume of 2.89 lakh shares in the past one quarter. The stock hit a high of Rs 789.60 and a low of Rs 782 so far during the day. The stock hit a 52-week high of Rs 965.15 on 20 August 2015. The stock hit a 52-week low of Rs 706.40 on 24 November 2015. The stock had outperformed the market over the past one month till 19 July 2016, gaining 5.3% compared with 4.36% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, dropping 6.52% as against Sensexs 7.64% rise.

The large-cap company has an equity capital of Rs 240.68 crore. Face value per share is Re 1.

Sun Pharmaceutical Industries announced that one of its subsidiaries received final approval from United States Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for generic version of Crestor, Rosuvastatin Calcium tablets 5 mg (base), 10 mg (base), 20 mg (base) and 40 mg (base).

Rosuvastatin Calcium tablets are therapeutic equivalents of IPR Pharmaceuticals, Inc.s Crestor tablets. As per IMS MAT May 2016 data, these tablets have annual sales of approximately $6.8 billion in the US. These tablets are indicated for the treatment of adult patients with Hypertriglyceridemia, Primary Dysbetalipoproteinemia (Type III Hyperlipoproteinemia) and adult patients with Homozygous Familial Hypercholesterolemia.

Sun Pharmaceutical Industries (Sun Pharma) consolidated net profit rose 92.7% to Rs 1713.69 crore on 21.5% growth in net sales to Rs 7413.87 crore in Q4 March 2016 over Q4 March 2015.

Sun Pharmaceutical Industries is a specialty generic pharmaceutical company and Indias top pharmaceutical company.

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