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Transformers and Rectifiers inches up on mulling fund raising proposals
Jul 18,2016

The announcement was made during market hours today, 18 July 2016.

Meanwhile, the S&P BSE Sensex was down 87.03 points or 0.31% at 27,749.47.

On BSE, so far 8,897 shares were traded in the counter as against average daily volume of 13,538 shares in the past one quarter. The stock hit a high of Rs 367.70 and a low of Rs 342.50 so far during the day. The stock had hit a 52-week high of Rs 387.90 on 27 May 2016. The stock had hit a 52-week low of Rs 162 on 25 August 2015. The stock had underperformed the market over the past one month till 15 July 2016, sliding 1.81% compared with Sensexs 4.15% rise. The scrip had, however, outperformed the market in past one quarter, advancing 28.75% as against Sensexs 8.62% rise.

The small-cap company has equity capital of Rs 13.26 crore. Face value per share is Rs 10.

Transformers and Rectifiers (India)s net profit spurted 1209.8% to Rs 10.74 crore on 52.7% growth in net sales to Rs 247.13 crore in Q4 March 2016 over Q4 March 2015.

Transformers & Rectifiers (India) manufactures a wide range of transformers for the domestic and the international market.

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NHPC gains after commissioning a unit of power project
Jul 18,2016

The announcement was made during market hours today, 18 July 2016.

Meanwhile, the S&P BSE Sensex was down 22.51 points or 0.08% at 27,813.99.

On BSE, so far 6.12 lakh shares were traded in the counter as against average daily volume of 11.97 lakh shares in the past one quarter. The stock hit a high of Rs 25.55 and a low of Rs 21.20 so far during the day. The stock had hit a 52-week high of Rs 26.20 on 4 July 2016. The stock had hit a 52-week low of Rs 15.55 on 25 August 2015. The stock had underperformed the market over the past one month till 15 July 2016, rising 2.44% compared with 4.15% rise in the Sensex. The scrip had also underperformed the market in past one quarter, gaining 5.66% as against Sensexs 8.62% rise.

The large-cap company has equity capital of Rs 11070.67 crore. Face value per share is Rs 10.

NHPC announced that Unit No 3 of Teesta Low Dam HE Project (TLDP) Stage IV of 160 megawatts (MW) capacity at West Bengal was declared under commercial operation from 17 July 2016 after a successful trial run.

Further, all the power generated from TLDP-IV has been allocated to the state of West Bengal and the same shall be supplied through West Bengal State Electricity Distribution Company (WBSEDCL).

NHPCs net profit fell 83.9% to Rs 104.08 crore on 9.4% growth in net sales to Rs 1585.58 crore in Q4 March 2016 over Q4 March 2015.

NHPC was incorporated in the year 1975 with an objective to plan, promote and organise an integrated and efficient development of hydroelectric power in all aspects. Later on, NHPC expanded its objects to include development of power in all its aspects through conventional and non-conventional sources in India and abroad.

GoI currently holds 74.6% stake in NHPC (as per the shareholding pattern as on 30 June 2016).

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Uflex gains after setting up engraving line at Noida facility
Jul 18,2016

The announcement was made during market hours today, 18 July 2016.

Meanwhile, the S&P BSE Sensex was up 35.51 points or 0.13% at 27,872.01.

On BSE, so far 21,000 shares were traded in the counter as against average daily volume of 82,044 shares in the past one quarter. The stock hit a high of Rs 242.05 and a low of Rs 236.70. The stock had hit a 52-week high of Rs 244.75 on 12 July 2016. The stock had hit a 52-week low of Rs 132 on 25 August 2015. The stock had underperformed the market over the past one month till 15 July 2016, gaining 2.49% compared with Sensexs 4.15% rise. The scrip had, however, outperformed the market in past one quarter, advancing 27.81% as against Sensexs 8.62% rise.

The small-cap company has equity capital of Rs 72.21 crore. Face value per share is Rs 10.

Uflex in collaboration with Think Lab. Japan has set up a fully automatic robotic laser engraving line for manufacturing rotogravure cylinders at Uflexs Noida facility.

On consolidated basis, Uflexs net profit rose 17.1% to Rs 80.23 crore on 0.3% decline in net sales to Rs 1440.56 crore in Q4 March 2016 over Q4 March 2015.

Uflex is one of the Indias largest end-to-end flexible packaging companies.

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ICICI Bank gains after life insurance arm files DRHP with Sebi for IPO
Jul 18,2016

The announcement was made during market hours today, 18 July 2016.

Meanwhile, the S&P BSE Sensex was up 64.12 points or 0.23% at 27,900.62.

On BSE, so far 6.31 lakh shares were traded in the ICICI Bank counter as against average daily volume of 13.21 lakh shares in the past one quarter. The stock hit a high of Rs 271.25 and a low of Rs 264.50 so far during the day. The stock had hit a 52-week high of Rs 321 on 17 July 2015. The stock had hit a 52-week low of Rs 180.80 on 26 February 2016. The stock had outperformed the market over the past one month till 15 July 2016, rising 6.78% compared with 4.15% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 10.04% as against Sensexs 8.62% rise.

The large-cap private sector bank has equity capital of Rs 1163.38 crore. Face value per share is Rs 2.

ICICI Bank announced that its subsidiary company, ICICI Prudential Life Insurance Company, has filed a draft red herring prospectus with the Securities and Exchange Board of India for a public offer of up to 18.13 crore equity shares of ICICI Prudential Life Insurance Company, representing approximately 12.65% of its equity share capital, for cash, through an offer for sale by ICICI Bank. The offer includes a proposed reservation of up to 1.81 crore equity shares or 10% of the offer for individual and Hindu Undivided Family (HUF) shareholders of ICICI Bank.

ICICI Prudential Life Insurance is a joint venture of ICICI Bank and Prudential Corp. Holdings. The company began operations in 2000. As per the shareholding pattern as of 31 March, ICICI Bank reportedly held 67.6% stake in the life insurance firm, while its foreign partner Prudential held 25.9%

ICICI Banks net profit declined 76% to Rs 701.89 crore on 14.5% growth in total income to Rs 18590.86 crore in Q4 March 2016 over Q4 March 2015.

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

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Volumes jump at NTPC counter
Jul 18,2016

NTPC clocked volume of 91.29 lakh shares by 13:41 IST on BSE, a 16.55-times surge over two-week average daily volume of 5.52 lakh shares. The stock fell 0.64% at Rs 155.35.

HDFC notched up volume of 9.39 lakh shares, a 9.48-fold surge over two-week average daily volume of 99,000 shares. The stock fell 1.25% at Rs 1,343.30.

Maruti Suzuki India saw volume of 4.07 lakh shares, a 9.47-fold surge over two-week average daily volume of 43,000 shares. The stock rose 1.26% at Rs 4,519.95.

MindTree clocked volume of 1.13 lakh shares, a 8.46-fold surge over two-week average daily volume of 13,000 shares. The stock lost 3.19% at Rs 617.40.

Godrej Properties saw volume of 4.05 lakh shares, a 6.59-fold rise over two-week average daily volume of 62,000 shares. The stock fell 0.64% at Rs 367.

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Ajanta Pharma nudges higher after launch of drug in US
Jul 18,2016

The announcement was made during market hours today, 18 July 2016.

Meanwhile, the S&P BSE Sensex was up 156.48 points or 0.56% at 27,992.98.

On BSE, so far 27,000 shares were traded in the counter as against average daily volume of 14,437 shares in the past one quarter. The stock hit a high of Rs 1,647 and a low of Rs 1,593.90 so far during the day. The stock had hit a record high of Rs 1,720 on 12 August 2015. The stock had hit a 52-week low of Rs 1,103 on 18 January 2016. The stock had outperformed the market over the past one month till 15 July 2016, gaining 4.22% compared with Sensexs 4.15% rise. The scrip had, however, underperformed the market in past one quarter, advancing 8.07% as against Sensexs 8.62% rise.

The large-cap company has equity capital of Rs 17.60 crore. Face value per share is Rs 2.

Omeprazole and Sodium Bicarbonate Capsules is a bioequivalent prescription generic version of Zegerid and the company has launched the product in 2 strengths viz. 20mg/1100mg & 40mg/1100mg capsules.

On a consolidated basis, net profit of Ajanta Pharma rose 43.4% to Rs 106.31 crore on 15.3% rise in net sales to Rs 419.20 crore in Q4 March 2016 over Q4 March 2015.

Ajanta Pharma is a specialty pharmaceutical formulation company with global headquarters in Mumbai. The company is engaged in developing, manufacturing and marketing of quality finished dosages across 30 plus countries.

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Jindal Poly Films gains after augmenting capacity at Nashik plant
Jul 18,2016

The announcement was made on Saturday, 16 July 2016.

Meanwhile, the S&P BSE Sensex was up 149.95 points or 0.54% at 27,986.45.

On BSE, so far 16,354 shares were traded in the counter as against average daily volume of 19,077 shares in the past one quarter. The stock hit a high of Rs 440.75 and a low of Rs 435 so far during the day. The stock had hit a 52-week high of Rs 612 on 4 November 2015. The stock had hit a 52-week low of Rs 273.60 on 21 July 2015. The stock had underperformed the market over the past one month till 15 July 2016, falling 8.44% compared with 4.15% rise in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 12.24% as against Sensexs 8.62% rise.

The mid-cap company has equity capital of Rs 42.05 crore. Face value per share is Rs 10.

Jindal Poly Films commissioned 7th Biaxially oriented polypropylene (BOPP) films production line of 41,000 tonnes per annum (TPA) increasing the India BOPP capacity to 2.51 lakh TPA at its Nasik, Maharashtra location. This is a part of Rs 1000 crore capital expenditure plans announced earlier by the company. This is in addition to coating and metalising capacities commissioned in the financial year ended 31 March 2016 (FY 2016). The global BOPP capacity now stands at 4.66 lakh TPA, the company added.

Jindal Poly Films consolidated net profit rose 23.2% to Rs 79.21 crore on 1.7% rise in net sales to Rs 1799.44 crore in Q4 March 2016 over Q4 March 2015.

Jindal Poly Films is a flagship company of B C Jindal group and is engaged in diverse business activities including manufacturing of polyester film, polypropylene film, steel pipes and photographic products.

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LT Foods jumps after acquiring a rice brand
Jul 18,2016

The announcement was made on Saturday, 16 July 2016.

Meanwhile, the S&P BSE Sensex was up 147.31 points or 0.53% at 27,983.81.

On BSE, so far 31,000 shares were traded in the counter as against average daily volume of 8,333 shares in the past one quarter. The stock hit a high of Rs 306.85 and a low of Rs 288.90 so far during the day. The stock had hit a record high of Rs 314.40 on 24 November 2015. The stock had hit a 52-week low of Rs 144 on 25 August 2015. The stock had outperformed the market over the past one month till 15 July 2016, gaining 20.66% compared with Sensexs 4.15% rise. The scrip had also outperformed the market in past one quarter, advancing 27.25% as against Sensexs 8.62% rise.

The small-cap company has equity capital of Rs 26.66 crore. Face value per share is Rs 10.

On consolidated basis, LT Foods net profit fell 74.4% to Rs 5.55 crore on 14% growth in net sales to Rs 805.13 crore in Q4 March 2016 over Q4 March 2015.

LT Foods offers branded basmati rice, value-added staples and organic food. L T Foods operations include contract farming, procurement, storage, processing, packaging and distribution. It is also engaged in research and development to add value to rice and rice food products.

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Dr Reddys Labs gains after launching drug in US market
Jul 18,2016

The announcement was made during trading hours today, 18 July 2016.

Meanwhile, the BSE Sensex was up 148.24 points, or 0.55%, to 27,989.36.

On BSE, so far 5,225 shares were traded in the counter, compared with an average volume of 30,517 shares in the past one quarter. The stock hit a high of Rs 3,610.80 and a low of Rs 3,563.95 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 outperformed the market over the past one month till 15 July 2016, rising 16.14% compared with 4.15% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 15.56% as against Sensexs 8.62% rise.

The large-cap company has an equity capital of Rs 85.35 crore. Face value per share is Rs 5.

Dr Reddys Laboratories announced that it has launched Omeprazole and Sodium bicarbonate capsules, 20mg/1100mg and 40mg/1100mg, a therapeutic equivalent generic version of ZEGERID (omeprazole/ sodium bicarbonate) capsules in the United States market, having been approved by the US Food & Drug Administration (USFDA). The Zegerid brand and generic had US sales of approximately $306.7 million MAT for the most recent twelve months ended in May 2016 according to MS HeaIth. Dr. Reddys Omeprazole and sodium bicarbonate capsules 20mg/1100mg and 40mg/1100mg are available in bottle count size of 30. Zegerid is a registered trademark of Santarus, Inc. a wholly-owned subsidiary of Salk Pharmaceuticals, Inc.

Meanwhile, Dr Reddys Laboratories turned ex-dividend today, 18 July 2016 for dividend of Rs 20 per share for the year ended 31 March 2016 (FY 2016).

Dr Reddys Laboratories consolidated net profit fell 85.6% to Rs 74.60 crore on 3% decline in net sales to Rs 3756.20 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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Den Networks moves higher after increasing stake in Macro Commerce
Jul 18,2016

The announcement was made after market hours on Friday, 15 July 2016.

Meanwhile, the S&P BSE Sensex was up 157.17 points or 0.56% at 27,993.67.

On BSE, so far 33,000 shares were traded in the counter as against average daily volume of 17,407 shares in the past one quarter. The stock hit a high of Rs 94.70 and a low of Rs 90.25 so far during the day. The stock had hit a 52-week high of Rs 169 on 20 July 2015. The stock had hit a 52-week low of Rs 60.50 on 15 February 2016. The stock had underperformed the market over the past one month till 15 July 2016, gaining 0.11% compared with Sensexs 4.15% rise. The scrip had also underperformed the market in past one quarter, sliding 4.38% as against Sensexs 8.62% rise.

The small-cap company has equity capital of Rs 178.20 crore. Face value per share is Rs 10.

Den Networks has entered into an agreement with Jasper Infotech for purchase of shares worth Rs 1 crore in Macro Commerce (Macro) and subscription by way of rights issue totaling Rs 5 crore.

Den Networks currently holds 32.87% stake in Macro and post acquisition it will increase to 82.87%.

Macro reported turnover of Rs 28 crore in the financial year ended 31 March 2016.

On consolidated basis, Den Networks reported net loss of Rs 85.44 crore in Q4 March 2016, higher than net loss of Rs 62.08 crore in Q4 March 2015. Net sales rose 38.3% to Rs 361.76 crore in Q4 March 2016 over Q4 March 2015.

Den Networks is one of leading cable TV distribution companies in India.

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SPARC jumps after licensing arrangement with Sun Pharma
Jul 18,2016

Separate announcements were made by Sun Pharmaceutical Industries and Sun Pharma Advanced Research Company before market hours today, 18 July 2016.

Shares of Sun Pharmaceutical Industries rose 0.82% to Rs 776.70.

Meanwhile, the BSE Sensex was up 158.77 points, or 0.57%, to 27995.27.

On BSE, so far 42,517 shares were traded in the counter of Sun Pharma Advanced Research Company (SPARC), compared with an average volume of 91,937 shares in the past one quarter. The stock hit a high of Rs 374.90 and a low of Rs 359.80 so far during the day. The stock hit a 52-week high of Rs 446.84 on 17 July 2015. The stock hit a 52-week low of Rs 243.43 on 25 February 2016. The stock had outperformed the market over the past one month till 15 July 2016, rising 23.01% compared with 4.15% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 20.28% as against Sensexs 8.62% rise.

The mid-cap company has an equity capital of Rs 24.69 crore. Face value per share is Re 1.

Sun Pharma Advanced Research Company (SPARC) and Sun Pharmaceutical Industries announced a licensing arrangement for SPARCs ELEPSIA XR (Levetiracetam Extended Release tablets). As per the agreement, SPARC will license ELEPSIA XR (Levetiracetam Extended Release tablets) to a wholly-owned subsidiary of Sun Pharma for the US market. SPARC will receive an up-front payment of $10 million from Sun Pharma. It is also eligible for certain additional milestone payments and defined royalties linked to any future sales of ELEPSIA XR.

ELEPSIA XR was approved by the United States Food & Drug Administration (USFDA) in March 2015. However, in September 2015, SPARC received a complete response letter (CRL) from the USFDA rescinding its earlier approval, citing that the compliance status of the manufacturing facility viz., Halol site of Sun Pharma was not acceptable on the date of approval. Sun Pharma has undertaken a detailed remediation at Halol for restoring cGMP compliance status for the site.

Levetiracetam products currently approved by FDA and available in the US market are generally indicated for adjunctive therapy in the treatment of partial onset seizures in patients 12 years of age and older with epilepsy. As per IMS MAT December 2015, 9 million prescriptions were dispensed for Levetiracetam making it one of the most widely prescribed treatments for epilepsy in the US.

Anil Raghavan, CEO, SPARC said that the licensing of ELEPSIA XR is a step ahead in companys desire to make it available for thousands of epilepsy patients taking multiple pills of Levetiracetam every day. ELEPSIA XR is designed as a novel once-a-day formulation of Levetiracetam using SPARCs proprietary Wrap Matrix technology. It is designed to reduce pill burden and help improve convenience and compliance in these patients. If and when the USFDA reapproves the ELEPSIA XR application, Sun Pharmas significant US presence will help SPARC in commercializing this important product for patients in the US market.

Commenting on the in-licensing, Kirti Ganorkar, Senior Vice President, Business Development, Sun Pharma said that the in-licensing of ELEPSIA XR will facilitate Sun Pharmas anticipated entry into the proprietary CNS segment in the US. This is a part of Sun Pharmas strategy, to strengthen its presence in the US specialty segment through its newly created Sun Neurosciences business unit.

SPARC reported net loss of Rs 9.58 crore in Q4 March 2016 compared with net loss of Rs 9.40 crore in Q4 March 2015. Net sales dropped 3.6% to Rs 41.17 crore in Q4 March 2016 over Q4 March 2015.

SPARC is an international pharmaceutical company engaged in research and development of drugs and delivery systems.

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SPARC jumps after entering into licensing arrangement with Sun Pharma
Jul 18,2016

Separate announcements were made by Sun Pharmaceutical Industries and Sun Pharma Advanced Research Company before market hours today, 18 July 2016.

Shares of Sun Pharmaceutical Industries rose 0.82% to Rs 776.70.

Meanwhile, the BSE Sensex was up 158.77 points, or 0.57%, to 27995.27.

On BSE, so far 42,517 shares were traded in the counter of Sun Pharma Advanced Research Company (SPARC), compared with an average volume of 91,937 shares in the past one quarter. The stock hit a high of Rs 374.90 and a low of Rs 359.80 so far during the day. The stock hit a 52-week high of Rs 446.84 on 17 July 2015. The stock hit a 52-week low of Rs 243.43 on 25 February 2016. The stock had outperformed the market over the past one month till 15 July 2016, rising 23.01% compared with 4.15% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 20.28% as against Sensexs 8.62% rise.

The mid-cap company has an equity capital of Rs 24.69 crore. Face value per share is Re 1.

Sun Pharma Advanced Research Company (SPARC) and Sun Pharmaceutical Industries announced a licensing arrangement for SPARCs ELEPSIA XR (Levetiracetam Extended Release tablets). As per the agreement, SPARC will license ELEPSIA XR (Levetiracetam Extended Release tablets) to a wholly-owned subsidiary of Sun Pharma for the US market. SPARC will receive an up-front payment of $10 million from Sun Pharma. It is also eligible for certain additional milestone payments and defined royalties linked to any future sales of ELEPSIA XR.

ELEPSIA XR was approved by the United States Food & Drug Administration (USFDA) in March 2015. However, in September 2015, SPARC received a complete response letter (CRL) from the USFDA rescinding its earlier approval, citing that the compliance status of the manufacturing facility viz., Halol site of Sun Pharma was not acceptable on the date of approval. Sun Pharma has undertaken a detailed remediation at Halol for restoring cGMP compliance status for the site.

Levetiracetam products currently approved by FDA and available in the US market are generally indicated for adjunctive therapy in the treatment of partial onset seizures in patients 12 years of age and older with epilepsy. As per IMS MAT December 2015, 9 million prescriptions were dispensed for Levetiracetam making it one of the most widely prescribed treatments for epilepsy in the US.

Anil Raghavan, CEO, SPARC said that the licensing of ELEPSIA XR is a step ahead in companys desire to make it available for thousands of epilepsy patients taking multiple pills of Levetiracetam every day. ELEPSIA XR is designed as a novel once-a-day formulation of Levetiracetam using SPARCs proprietary Wrap Matrix technology. It is designed to reduce pill burden and help improve convenience and compliance in these patients. If and when the USFDA reapproves the ELEPSIA XR application, Sun Pharmas significant US presence will help SPARC in commercializing this important product for patients in the US market.

Commenting on the in-licensing, Kirti Ganorkar, Senior Vice President, Business Development, Sun Pharma said that the in-licensing of ELEPSIA XR will facilitate Sun Pharmas anticipated entry into the proprietary CNS segment in the US. This is a part of Sun Pharmas strategy, to strengthen its presence in the US specialty segment through its newly created Sun Neurosciences business unit.

SPARC reported net loss of Rs 9.58 crore in Q4 March 2016 compared with net loss of Rs 9.40 crore in Q4 March 2015. Net sales dropped 3.6% to Rs 41.17 crore in Q4 March 2016 over Q4 March 2015.

SPARC is an international pharmaceutical company engaged in research and development of drugs and delivery systems.

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Cox & Kings surges after fund buying
Jul 18,2016

Meanwhile, the S&P BSE Sensex was up 166.07 points or 0.6% at 28,002.57.

On BSE, so far 2.04 lakh shares were traded in the counter as against average daily volume of 95,002 shares in the past one quarter. The stock hit a high of Rs 213.80 and a low of Rs 204.10 so far during the day. The stock had hit a 52-week high of Rs 317 on 5 August 2015. The stock had hit a 52-week low of Rs 140.50 on 17 February 2016. The stock had outperformed the market over the past one month till 15 July 2016, gaining 25.59% compared with Sensexs 4.15% rise. The scrip had, however, underperformed the market in past one quarter, advancing 7.11% as against Sensexs 8.62% rise.

The small-cap company has equity capital of Rs 88.28 crore. Face value per share is Rs 5.

On consolidated basis, Cox & Kings reported net loss of Rs 305.54 crore in Q4 March 2016 compared with net profit of Rs 64.57 crore in Q4 March 2015. Net sales declined 3% to Rs 469.41 crore in Q4 March 2016 over Q4 March 2015.

Cox & Kings is one of the longest established travel companies in the world since 1758. Headquartered in India, it is the leading holidays and education travel group with operations in 22 countries across 4 continents.

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Bharti Airtel drops after reducing pre-paid data tariffs
Jul 18,2016

The announcement was made yesterday, 17 July 2016.

Meanwhile, the S&P BSE Sensex was up 136.22 points or 0.49% at 27,972.72.

On BSE, so far 27,000 shares were traded in the counter as against average daily volume of 2.19 lakh shares in the past one quarter. The stock hit a high of Rs 380 and a low of Rs 375.70 so far during the day. The stock had hit a 52-week high of Rs 452.45 on 21 July 2015. The stock had hit a 52-week low of Rs 282.30 on 29 January 2016. The stock had outperformed the market over the past one month till 15 July 2016, gaining 7.59% compared with Sensexs 4.15% rise. The scrip had, however, underperformed the market in past one quarter, advancing 7.59% as against Sensexs 8.62% rise.

The large-cap company has equity capital of Rs 1998.70 crore. Face value per share is Rs 5.

Bharti Airtel announced an effective reduction in pre-paid data tariffs by increasing data benefits on some of its pre-paid data recharge packs with effect from 17 July 2016. Airtel customers will now enjoy more value on these existing packs and can add to their mobile internet experience by staying online longer and download more of their favorite content, the company said.

Under the revised data benefits, the Rs 655 4G/3G monthly recharge pack will now offer 5 GB data vs 3 GB earlier, an increase of 67%. Similarly, the Rs 455 pack 4G/3G pack now offers 50% more data by increasing data benefit to 3 GB from 2 GB. The Rs 989 4G/3G pack will now offer 10 GB data vs 6.5 GB earlier, offering 54% more benefits. 2G/3G/4G Sachet Packs also see major increase in benefits. The Rs 25 2G pack now offers 45% more data at 145 MB vs 100 MB earlier, while the Rs 145 4G/3G pack now offers 32% more data benefits at 580 MB vs 440 MB earlier. Even the Rs 5 one day 2G data pack benefits have been increased by 48% to 30 MB keeping in mind non-regular/first time users, particularly in rural markets.

Bharti Airtels consolidated net profit rose 2.8% to Rs 1290.30 crore on 8.4% growth in net sales to Rs 24959.60 crore in Q4 March 2016 over Q4 March 2015.

Bharti Airtel ranks amongst the top three mobile service providers globally in terms of subscribers. The company has its operations in 20 countries across Asia and Africa.

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IDFC Bank gains after RBI nod for hike in foreign investment limit
Jul 18,2016

Meanwhile, the BSE Sensex was up 168.06 points, or 0.60%, to 28,004.56.

On BSE, so far 1.25 lakh shares were traded in the counter, compared with an average volume of 11.65 lakh shares in the past one quarter. The stock hit a high of Rs 52.95 and a low of Rs 51.80 so far during the day. The stock hit a record high of Rs 73.45 on 6 November 2015. The stock hit a record low of Rs 43.15 on 21 January 2016. The stock had outperformed the market over the past one month till 15 July 2016, rising 8.99% compared with 4.15% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 4.72% as against Sensexs 8.62% rise.

The large-cap company has an equity capital of Rs 3394.90 crore. Face value per share is Rs 10.

The Reserve Bank of India on Friday, 15 July 2016 notified that foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs) can now enhance investment from existing 24% to 46% of the paid up capital of IDFC Bank under the portfolio investment scheme (PIS). The RBI further notified that the total foreign investment from all sources i.e. foreign institutional investors (FII)/registered foreign portfolios investors (RFPIs)/foreign direct investment (FDI)/non-resident Indians (NRI)/persons of Indian origin (PIO)/American depository receipts (ADR)/Global depository receipts (GDR)/ in IDFC Bank shall not exceed 46%. The RBI has stated that IDFC Bank has passed resolutions at its board of directors level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares by FIIs/RFPIs. The purchases could be made through primary market and stock exchanges.

IDFC Bank reported net profit of Rs 165.06 crore on operating income of Rs 1953.20 crore in Q4 March 2016.

IDFC Bank is a subsidiary of IDFC. The Reserve Bank of India (RBI) granted a universal banking license to IDFC on 23 July 2015. IDFC demerged on 1 October 2015, transferring all assets and liabilities of its lending business to IDFC Bank. IDFC Financial Holding Company holds 52.95% stake in the bank as per the shareholding pattern as at 5 July 2016. Shares of IDFC Bank listed on the stock exchanges on 6 November 2015.

IDFC Bank is a universal bank, offering financial solutions through its nationwide branches, internet and mobile. IDFC Bank will focus on serving the rural underserved communities and the self-employed, while continuing to support the countrys infrastructure sector. IDFC Bank provides customized financial solutions to corporates, individuals, small and microenterprises, entrepreneurs, financial institutions and the government.

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