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M&M gains on favorable monsoon forecast
Jun 06,2016

Meanwhile, the S&P BSE Sensex was down 30.17 points or 0.11% at 26,812.86.

On BSE, so far 40,000 shares were traded in the counter as against average daily volume of 92,950 shares in the past one quarter. The stock hit a high of Rs 1,386.40 and a low of Rs 1,358 so far during the day. The stock had hit a record high of Rs 1,441.45 on 7 August 2015. The stock had hit a 52-week low of Rs 1,092 on 12 February 2016. The stock had underperformed the market over the past one month till 3 June 2016, advancing 2.08% compared with Sensexs 6.39% rise. The scrip had, however, outperformed the market in past one quarter, gaining 11.36% as against Sensexs 9.09% rise.

The large-cap company has equity capital of Rs 310.55 crore. Face value per share is Rs 5.

Shares of M&M had risen 1.55% to settle at Rs 1,353.45 during the previous trading session on Friday, 3 June 2016, after India Meteorological Department (IMD) retained its previous forecast of above normal rains for the 2016 southwest monsoon season (June to September). Good rains may boost demand for tractors. Mahindra & Mahindra (M&M) is the largest tractor maker in India in terms of market share.

Quantitatively, monsoon season rainfall for the country as a whole is likely to be 106% of the long period average (LPA) with a model error of plus/minus 4%, the IMD said after trading hours on 2 June 2016. In its first stage forecast issued on 12 April 2016, the IMD had forecast rainfall to be 106% of the LPA with a model error of plus/minus 5%.

IMD today, 6 June 2016, said that conditions continue to remain favorable for the onset of the southwest monsoon over Kerala during next 2-3 days. There has been delay in the onset of the monsoon rains in Kerala this year from the normal onset date which is 1 June. The arrival of the rains at the Kerala coast marks the onset of the June-September southwest monsoon season in India.

M&Ms net profit rose 6% to Rs 583.73 crore on 14.8% growth in net sales to Rs 10666.43 crore in Q4 March 2016 over Q4 March 2015.

The Mahindra Group enjoys a leadership position in tractors, utility vehicles, information technology, financial services and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two-wheeler industries.

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L&T gains as construction arm secures new orders worth Rs 2161 crore
Jun 06,2016

The announcement was made during market hours today, 6 June 2016.

Meanwhile, the BSE Sensex was down 10.34 points, or 0.04%, to 26,832.69

On BSE, so far 33,000 shares were traded in the counter, compared with an average volume of 2.17 lakh shares in the past one quarter. The stock hit a high of Rs 1,472.50 and a low of Rs 1,462.85 so far during the day. The stock hit a 52-week high of Rs 1,886.25 on 17 July 2015. The stock hit a 52-week low of Rs 1,016.60 on 12 February 2016. The stock had outperformed the market over the past one month till 3 June 2016, rising 16.8% compared with Sensexs 6.39% rise. The scrip had also outperformed the market in past one quarter, gaining 21.13% as against Sensexs 9.09% rise.

The large-cap company has an equity capital of Rs 186.37 crore. Face value per share is Rs 2.

In the transportation infrastructure business, L&Ts construction arm L&T Construction won a design a build order worth Rs 847 crore from Dedicated Freight Corridor Corporation of India (DFCCIL). In water and effluent treatment business, L&T Construction won engineering, procurement, and construction (EPC) orders worth Rs 709 crore. In power transmission and distribution business, L&T Construction won EPC orders worth Rs 403 crore. In metallurgical and material handling business, L&T Construction won additional orders worth Rs 202 crore from various ongoing jobs of this business, L&T said.

Meanwhile, Housing Development Finance Corporation (HDFC) after market hours on Friday, 3 June 2016 announced the acquisition of 100% stake in L&T General Insurance Company. HDFC said that the board of directors of HDFC ERGO General Insurance Company (HDFC ERGO), a non listed subsidiary of the company, has approved the acquisition of a 100% stake in L&T General Insurance Company (LTGI) for an aggregate consideration of Rs 551 crore. The board of HDFC ERGO also approved the plan to merge the two companies subject to all regulatory approvals. The acquisition would help HDFC ERGO improve its market position. HDFC ERGO expects significant cost synergies arising out of business, technology optimization and rationalization of offices. HDFC ERGO, a 51:49 joint venture between housing major HDFC and ERGO International, Germany (part of Munich Re Group), is the 4th largest private sector general insurer in India and offers all lines of general insurance products including motor, health, personal accident, home, fire, marine, aviation, liability, crop insurance etc. The transaction is subject to various approvals, including approval of Insurance Regulatory and Development Authority of India and the Bombay High Court. Upon closing, the L&T Group would exit from the general insurance and health insurance business. LTGI gross earned premium income during the year 2015-2016 was Rs 483 crore, constituting around 0.5% of the companys consolidated revenue for the year 2015-2016 and reported a net worth of Rs 142 crore as on 31 March 2016. The share sale is part of L&Ts strategy of exiting from its non-core activity.

L&Ts consolidated net profit rose 18.6% to Rs 2453.64 crore on 17.6% rise in total income to Rs 33423.78 crore in Q4 March 2016 over Q4 March 2015.

L&T is a major Indian multinational engaged in technology, engineering, construction, manufacturing and financial services, with global operations. Its products and systems are marketed in over 30 countries worldwide.

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L&T gains on procuring new orders worth Rs 2161 crore
Jun 06,2016

The announcement was made during market hours today, 6 June 2016.

Meanwhile, the BSE Sensex was down 10.34 points, or 0.04%, to 26,832.69

On BSE, so far 33,000 shares were traded in the counter, compared with an average volume of 2.17 lakh shares in the past one quarter. The stock hit a high of Rs 1,472.50 and a low of Rs 1,462.85 so far during the day. The stock hit a 52-week high of Rs 1,886.25 on 17 July 2015. The stock hit a 52-week low of Rs 1,016.60 on 12 February 2016. The stock had outperformed the market over the past one month till 3 June 2016, rising 16.8% compared with Sensexs 6.39% rise. The scrip had also outperformed the market in past one quarter, gaining 21.13% as against Sensexs 9.09% rise.

The large-cap company has an equity capital of Rs 186.37 crore. Face value per share is Rs 2.

L&Ts transportation infrastructure business has won a design a build order worth Rs 847 crore from Dedicated Freight Corridor Corporation of India (DFCCIL). This order has been secured by the consortium of L&T and Instalaciones Inabensa, S.A., Spain.

In water and effluent treatment business, L&T has won EPC (engineering, procurement, and construction) orders worth Rs 709 crore. In power transmission and distribution business, L&T has won EPC orders worth Rs 403 crore. In metallurgical and material handling business, L&T has won additional orders worth Rs 202 crore from various ongoing jobs.

Meanwhile, L&T after market hours on Friday, 3 June 2016, announced that it has agreed to sell its entire stake in L&T General Insurance Company (LTGI) to HDFC ERGO General Insurance Company (HDFC ERGO) for an aggregate consideration of Rs 551 crore. L&T General Insurance Company is a wholly-owned subsidiary of L&T. The board of HDFC ERGO also approved the plan to merge the two companies subject to all regulatory approvals. The acquisition would help HDFC ERGO improve its market position. HDFC ERGO is a 51:49 joint venture between housing major HDFC and ERGO International, Germany (part of Munich Re Group). Once the transaction is completed, the L&T Group would exit the general insurance and health insurance businesses. LTGIs gross earned premium income during the year 2015-2016 totaled Rs 483 crore. It had net worth of Rs 142 crore as on 31 March 2016. The share sale is part of L&Ts strategy of exiting from its non-core activity.

L&Ts consolidated net profit rose 18.6% to Rs 2453.64 crore on 17.6% rise in total income to Rs 33423.78 crore in Q4 March 2016 over Q4 March 2015.

L&T is a major Indian multinational engaged in technology, engineering, construction, manufacturing and financial services. It operates in more than 30 countries worldwide.

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Maruti declines on firmness in Japanese yen
Jun 06,2016

Meanwhile, the S&P BSE Sensex was up 4.11 points or 0.02% at 26,847.14.

On BSE, so far 4.92 lakh shares were traded in the counter as against average daily volume of 72,501 shares in the past one quarter. The stock hit a high of Rs 4,224.90 and a low of Rs 4,121 so far during the day. The stock had hit a record high of Rs 4,789 on 23 November 2015. The stock had hit a 52-week low of Rs 3,202.10 on 29 February 2016. The stock had outperformed the market over the past one month till 3 June 2016, advancing 10.56% compared with Sensexs 6.39% rise. The scrip had also outperformed the market in past one quarter, gaining 16.86% as against Sensexs 9.09% rise.

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

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

Maruti after market hours on Friday, 3 June 2016, reported 1.57% growth in its total production at 1.29 lakh units in May 2016 over May 2015. Marutis total sales rose 7.1% to 1.23 lakh units in May 2016 over May 2015.

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

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

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Indiabulls Real Estate gains after entering into development pact with Oricon
Jun 06,2016

The announcement was made after market hours on Friday, 3 June 2016.

Meanwhile, the S&P BSE Sensex was up 17.91 points or 0.07% at 26,860.94.

On BSE, so far 4.73 lakh shares were traded in the counter as against average daily volume of 18.81 lakh shares in the past one quarter. The stock hit a high of Rs 100.20 and a low of Rs 96.65 so far during the day. The stock had hit a 52-week high of Rs 105.25 on 30 May 2016. The stock had hit a 52-week low of Rs 41 on 18 June 2015. The stock had outperformed the market over the past one month till 3 June 2016, advancing 39.07% compared with Sensexs 6.39% rise. The scrip had also outperformed the market in past one quarter, gaining 89.27% as against Sensexs 9.09% rise.

The mid-cap company has equity capital of Rs 101.13 crore. Face value per share is Rs 2.

Indiabulls Real Estate said that its 100% subsidiary, Tapir Realty Developers, has entered into a joint development agreement with Oricon Properties, a subsidiary of Oricon Enterprises, for development of 7,810 square meters plot situated at Worli in Mumbai.

On consolidated basis, Indiabulls Real Estates net profit fell 36.7% to Rs 58.91 crore on 4.5% growth in net sales to Rs 617.69 crore in Q4 March 2016 over Q4 March 2015.

Indiabulls Real Estate is one of the largest real estate company in India with development projects spread across high-end office and commercial complexes, premium residential developments, mega townships, retail spaces, hotel and resorts, state of the art special economic zones and infrastructure development.

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Indiabulls Real Estate gains after entering into a pact for development of a plot in Mumbai
Jun 06,2016

Shares of Oricon Enterprises were down 1.37% at Rs 64.60. The announcement was made after market hours on Friday, 3 June 2016.

Meanwhile, the S&P BSE Sensex was up 17.91 points or 0.07% at 26,860.94.

On BSE, so far 4.73 lakh shares were traded in the Indiabulls Real Estate counter as against average daily volume of 18.81 lakh shares in the past one quarter. The stock hit a high of Rs 100.20 and a low of Rs 96.65 so far during the day. The stock had hit a 52-week high of Rs 105.25 on 30 May 2016. The stock had hit a 52-week low of Rs 41 on 18 June 2015. The stock had outperformed the market over the past one month till 3 June 2016, advancing 39.07% compared with Sensexs 6.39% rise. The scrip had also outperformed the market in past one quarter, gaining 89.27% as against Sensexs 9.09% rise.

The mid-cap company has equity capital of Rs 101.13 crore. Face value per share is Rs 2.

Oricon Properties is a wholly-owned subsidiary of Oricon Enterprises.

On consolidated basis, Indiabulls Real Estates net profit fell 36.7% to Rs 58.91 crore on 4.5% growth in net sales to Rs 617.69 crore in Q4 March 2016 over Q4 March 2015.

Indiabulls Real Estate is one of the largest real estate development companies in India with development projects spread across high-end office and commercial complexes, premium residential developments, mega townships, retail spaces, hotel and resorts, special economic zones and infrastructure development.

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Jubilant Life Sciences advances after getting ANDA approval for Levetiracetam
Jun 06,2016

The announcement was made after market hours on Friday, 3 June 2016.

Meanwhile, the S&P BSE Sensex was down 5.69 points or 0.02% at 26,837.34

On BSE, so far 53,360 shares were traded in the counter as against average daily volume of 1.53 lakh shares in the past one quarter. The stock hit a high of Rs 374 and a low of Rs 366.25 so far during the day. The stock had hit a record high of Rs 455 on 7 December 2015. The stock had hit a 52-week low of Rs 163.35 on 29 June 2015. The stock had underperformed the market over the past one month till 3 June 2016, falling 9.42% compared with Sensexs 6.39% rise. The scrip had also underperformed the market in past one quarter, declining 4.71% as against Sensexs 9.09% rise.

The mid-cap company has equity capital of Rs 15.93 crore. Face value per share is Re 1.

Jubilant Life Sciences announced that the company has received Abbreviated New Drug Application (ANDA) final approval for Levetiracetam Injection USP, 500 mg/5 mL (100 mg/mL), the generic version of Keppra Injection 500mg/5mL (100mg/mL) of UCB, which is used for the treatment of epilepsy. As on 31 March 2016, Jubilant Life Sciences had a total of 739 filings for formulations of which 517 have been approved in various regions globally. This includes 72 ANDAs filed in the US, of which 44 have been approved and 46 Dossier filings in Europe.

Jubilant Life Sciences consolidated net profit rose 65.4% to Rs 70.68 crore on 2.8% fall in net sales to Rs 1480.29 crore in Q4 March 2016 over Q4 March 2015.

Jubilant Life Sciences is an integrated global pharmaceutical and life sciences company engaged in manufacture and supply of APIs, solid dosage formulations, specialty pharmaceuticals and life science ingredients. It also provides services in contract manufacturing and drug discovery solutions.

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Jubilant Life Sciences surges after USFDA nod for a generic drug
Jun 06,2016

The company made the announcement after market hours on Friday, 3 June 2016.

Meanwhile, the S&P BSE Sensex was down 5.69 points or 0.02% at 26,837.34

On BSE, so far 53,360 shares were traded in the counter as against average daily volume of 1.53 lakh shares in the past one quarter. The stock hit a high of Rs 374 and a low of Rs 366.25 so far during the day. The stock had hit a record high of Rs 455 on 7 December 2015. The stock had hit a 52-week low of Rs 163.35 on 29 June 2015. The stock had underperformed the market over the past one month till 3 June 2016, falling 9.42% compared with Sensexs 6.39% rise. The scrip had also underperformed the market in past one quarter, declining 4.71% as against Sensexs 9.09% rise.

The mid-cap company has equity capital of Rs 15.93 crore. Face value per share is Re 1.

The approval is for the generic version of Keppra Injection 500mg/5mL (100mg/mL) of UCB, which is used for the treatment of epilepsy.

As on 31 March 2016, Jubilant Life Sciences had a total of 739 filings for formulations, of which 517 have been approved in various regions globally. This includes 72 ANDAs (Abbreviated New Drug Application) filed in the US, of which 44 have been approved. It also includes 46 dossier filings in Europe.

Jubilant Life Sciences consolidated net profit rose 65.4% to Rs 70.68 crore on 2.8% fall in net sales to Rs 1480.29 crore in Q4 March 2016 over Q4 March 2015.

Jubilant Life Sciences is an integrated global pharmaceutical and life sciences company engaged in manufacture and supply of active pharmaceutical ingredients, solid dosage formulations, specialty pharmaceuticals and life science ingredients. It also provides services in contract manufacturing and drug discovery solutions.

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HDFC turns volatile after acquisition of L&Ts insurance biz
Jun 06,2016

The announcement was made after market hours on Friday, 3 June 2016.

Shares of L&T were up 0.44% at Rs 1,467.50.

Meanwhile, the S&P BSE Sensex was down 20.88 points or 0.08% at 26,822.15.

On BSE, so far 13,000 shares of Housing Development Finance Corporation (HDFC) exchanged hands in the counter compared with average daily volume of 1.78 lakh shares in the past one quarter. The stock was volatile. The stock lost as much as 0.55% at the days low of Rs 1,248 so far during the day. The stock rose as much as 0.79% at the days high of Rs 1,265 so far during the day. The stock had hit a 52-week high of Rs 1,370.80 on 16 July 2015. The stock had hit a 52-week low of Rs 1,012 on 25 February 2016. The stock had outperformed the market over the past one month till 3 June 2016, advancing 14.19% compared with Sensexs 6.39% rise. The scrip had also outperformed the market in past one quarter, gaining 11.74% as against Sensexs 9.09% rise.

The large-cap company has equity capital of Rs 316.08 crore. Face value per share is Rs 2.

HDFC said that the board of directors of HDFC ERGO General Insurance Company (HDFC ERGO), a non listed subsidiary of the company, has approved the acquisition of a 100% stake in L&T General Insurance Company (LTGI) for an aggregate consideration of Rs 551 crore. The board of HDFC ERGO also approved the plan to merge the two companies subject to all regulatory approvals. The acquisition would help HDFC ERGO improve its market position. HDFC ERGO expects significant cost synergies arising out of business, technology optimization and rationalization of offices.

HDFC ERGO, a 51:49 joint venture between housing major HDFC and ERGO International, Germany (part of Munich Re Group), is the 4th largest private sector general insurer in India and offers all lines of general insurance products including motor, health, personal accident, home, fire, marine, aviation, liability, crop insurance etc.

The transaction is subject to various approvals, including approval of Insurance Regulatory and Development Authority of India and the Bombay High Court.

Upon closing, the L&T Group would exit from the general insurance and health insurance business.

LTGI gross earned premium income during the year 2015-2016 was Rs 483 crore, constituting around 0.5% of the companys consolidated revenue for the year 2015-2016 and reported a net worth of Rs 142 crore as on 31 March 2016. The share sale is part of L&Ts strategy of exiting from its non-core activity.

On consolidated basis, HDFCs net profit rose 30.8% to Rs 3460.46 crore on 15.5% growth in total income to Rs 17027.21 crore in Q4 March 2016 over Q4 March 2015.

HDFC is Indias first retail housing finance company and is currently one of the largest originators of housing loans in the country.

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Cadila Healthcare gains on securing USFDA nod for phase II clinical trial of Saroglitazar
Jun 06,2016

The announcement was made on Saturday, 4 June 2016.

Meanwhile, the BSE Sensex was up 30.43 points, or 0.11%, to 26,873.46

On BSE, so far 14,000 shares were traded in the counter, compared with an average volume of 92,935 shares in the past one quarter. The stock hit a high of Rs 325.35 and a low of Rs 321.05 so far during the day. The stock hit a record high of Rs 454.40 on 23 October 2015. The stock hit a 52-week low of Rs 295.50 on 18 January 2016.

The large-cap company has an equity capital of Rs 102.37 crore. Face value per share is Re 1.

Cadila Healthcare announced on Saturday, 4 June 2016, that the United States Food and Drug Administration (USFDA) approved the companys plan to initiate a phase 2 clinical trial of Saroglitazar in patients with non-alcoholic Steatohepatitis (NASH) of the liver. This randomized, double-blind phase 2 trial will evaluate Saroglitazar 1mg, 2mg and 4mg Vs. Placebo. Commenting on the development, Pankaj Patel, Chairman and Managing Director of Cadila Healthcare said that NASH is an area of unmet healthcare need as there are currently no drugs approved for the treatment of NASH. Saroglitazar has significant and differentiated effect on hepatic steatosis, while it shows all other beneficial effects on reducing inflammation and fibrosis in the liver in NASH models, Patel said. With a phase III trial in biopsy proven NASH patients ongoing in India and a phase II trial in NASH patients planned in USA, Cadila is committed towards developing this drug for millions of patients suffering from NASH, Patel said.

Cadila Healthcares consolidated net profit rose 10.9% to Rs 388.70 crore on 5.7% growth in net sales to Rs 2375.50 crore in Q4 March 2016 over Q4 March 2015.

Cadila Healthcare is an innovative, global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies.

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RIL inches up after resumption of operations at Dahej plants
Jun 06,2016

The announcement was made after market hours on Friday, 3 June 2016.

Meanwhile, the S&P BSE Sensex was up 8.20 points or 0.03% at 26,851.23.

On BSE, so far 1,438 shares were traded in the counter as against average daily volume of 2.27 lakh shares in the past two weeks. The stock hit a high of Rs 962 and a low of Rs 959 so far during the day. The stock had hit a 52-week high of Rs 1,089.50 on 15 January 2016. The stock had hit a 52-week low of Rs 819 on 24 August 2015.

The large-cap company has equity capital of Rs 3242.45 crore. Face value per share is Rs 10.

The purified terephthalic acid (PTA) plants had been shut for a brief period owing to increased water salinity. Reliance Industries (RIL) said it ensured PTA supplies to downstream customers from its Hazira and Patalganga plants during the brief shutdown at Dahej. Now, the customers will be getting PTA from all three locations, RIL said.

On consolidated basis, RILs net profit rose 15.9% to Rs 7398 crore on 10.7% decline in net sales to Rs 60252 crore in Q4 March 2016 over Q4 March 2015.

RIL is a diversified firm having presence in oil exploration, petrochemicals, retail and telecom sectors.

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Natco Pharma jumps as partner gets USFDA tentative approval for Sorafenib Tablets
Jun 03,2016

The announcement was made during market hours today, 3 June 2016.

Meanwhile, the S&P BSE Sensex was down 2.50 points or 0.01% at 26,840.64

On BSE, so far 4.69 lakh shares were traded in the counter as against average daily volume of 59,833 shares in the past one quarter. The stock hit a high of Rs 522.65 and a low of Rs 480 so far during the day. The stock had hit a 52-week low of Rs 382.20 on 24 August 2015. The stock had hit a record high of Rs 623.60 on 5 January 2016. The stock had underperformed the market over the past one month till 2 June 2016, rising 0.07% compared with Sensexs 5.53% gains. The scrip also underperformed the market in past one quarter, rising 8.96% as against Sensexs 10.73% gains.

The mid-cap company has equity capital of Rs 34.83 crore. Face value per share is Rs 2.

Natco Pharma announced today, 3 June 2016 that its marketing partner, Mylan Inc. has received a tentative approval for its Abbreviated New Drug Application (ANDA) for Sorafenib Tablets, 200mg, with the US Food and Drug Administration (USFDA). This product is the generic version of NEXAVAR, which is indicated for the treatment of certain types of cancers including unresectable hepatocellular carcinoma and advanced renal cell carcinoma. Natco Pharma and Mylan have filed an ANDA containing a Paragraph IV certification for this product. Natco Pharma manufactures this product at its facility in Kothur, Telangana.

Bayer Healthcare LLC, Bayer Healthcare Pharmaceuticals Inc., and Onyx Pharmaceuticals Inc., sells Sorafenib Tablets, 200mg, under Brand name NEXAVAR, in the US market. For the 12 months ended 31 December 2015, NEXAVAR had US sales of approximately $300 million (as per Bayers annual report).

Natco Pharmas consolidated net profit rose 10.7% to Rs 60.24 crore on 103% growth in net sales to Rs 386.77 crore in Q4 March 2016 over Q4 March 2015.

Natco Pharma manufactures generic dosage forms, bulk actives and intermediates for the Indian and international markets.

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Punj Lloyd drops 9.38% in two sessions
Jun 03,2016

Meanwhile, the BSE Sensex was up 13.41 points, or 0.05%, to 26,857.36.

On BSE, so far 4.68 lakh shares were traded in the counter, compared with an average volume of 2.35 lakh shares in the past one quarter. The stock hit a low of Rs 18.30 in intraday trade so far, which is record low for the counter. The stock hit a high of Rs 19.30 so far during the day. The stock hit a 52-week high of Rs 35.80 on 6 August 2015.

Punj Lloyd after trading hours on 1 June 2016, said that the High Court of Justice, Queens Bench Division, Commercial Court, UK has ordered the company and its subsidiary, Punj Lloyd Upstream (PLUL), to pay $26.17 million plus summary assessment costs amounting to 75000 pounds, to International Finance Corporation (IFC), towards their claims. The company said it is considering various legal options and shall take appropriate steps in respect of such order. The stock dropped 5.19% to settle at Rs 19.20 yesterday, 2 June 2015 after the announcement. The stock dropped 9.38% in two trading sessions to its current ruling price of Rs 18.35 from the closing price of Rs 20.25 on 1 June 2016.

Punj Lloyd posted net loss of Rs 467.99 crore in Q4 March 2016, compared to net profit of Rs 268.53 crore for Q4 March 2015. The companys net sales decreased 44.9% to Rs 688.13 crore in Q4 March 2016 over Q4 March 2015.

Punj Lloyd is a diversified international conglomerate offering EPC services in energy and infrastructure along with engineering and manufacturing capabilities in the defence sector. Punj Lloyd has operations spread across 24 countries, a mix across the Middle East, Africa, the Caspian, Europe, Asia Pacific and South Asia.

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Fertilizer stocks gain after IMD retains previous forecast of good rains for 2016 monsoon season
Jun 03,2016

Meanwhile, the S&P BSE Sensex was up 10.69 points or 0.1% at 26,860.32.

Rashtriya Chemicals & Fertilizers (up 1.5%), Gujarat Narmada Valley Fertilizers & Chemicals (up 2.92%), Deepak Fertilisers & Petrochemicals Corporation (up 1.1%), Fertilizers & Chemicals Travancore (up 1.48%), Gujarat State Fertilizers & Chemicals (up 1.73%), Chambal Fertilizers & Chemicals (up 0.37%) and Coromandel International (up 1.94%) rose. National Fertilizers fell 1.35%.

Good rains may boost demand for fertilizers.

Meanwhile, Indias weather office India Meteorological Department (IMD) in its second stage monsoon forecast issued after trading hours yesterday, 2 June 2016, said that rainfall over the country as a whole for the 2016 southwest monsoon season is most likely to be above normal. Quantitatively, monsoon season rainfall for the country as a whole is likely to be 106% of the long period average (LPA) with a model error of plus/minus 4%. In its first stage forecast issued on 12 April 2016, the IMD had forecast rainfall to be 106% of the LPA with a model error of plus/minus 5%.

In its region wise forecast, the IMD said that the rainfall is likely to be 108% of LPA in North-West India, 113% of LPA in Central India, 113% of LPA in South Peninsula and 94% of LPA in North-East India, all with a model error of plus/minus 8%. The rainfall over the country as whole is likely to be 107% of its LPA during July 2016 and 104% of LPA during August 2016 both with a model error of plus/minus 9%. The quantum of the rainfall and its spatial and temporal distribution are critical for the countrys agriculture.

The IMD said that the rapidly declining El Nino conditions became weak in early May 2016 and now have turned to neutral ENSO conditions. Recent changes in the atmospheric conditions over the Pacific also reflect the weakening El Nino conditions. Latest forecast from IMD-IITM coupled model indicates about 50% probability of La Nina conditions to establish during the monsoon season. Most of the other models also suggest development of La Nina conditions during the latter part of the monsoon season. El Nino conditions cause deficient rains in India whereas La Nina conditions trigger abundant rains in the country.

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Sical Logistics gains after subsidiary receives letter of intent from Kamarajar Port
Jun 03,2016

The announcement was made during market hours today, 3 June 2016.

Meanwhile, the S&P BSE Sensex was down 20.98 points or 0.08% at 26,822.16.

High volumes were witnessed on the counter. On BSE, so far 49,603 shares were traded in the counter as against average daily volume of 6,394 shares in the past one quarter. The stock hit a high of Rs 153.10 and a low of Rs 147.20 so far during the day. The stock had hit a record high of Rs 203.20 on 5 August 2015. The stock had hit a 52-week low of Rs 114 on 12 June 2015. The stock had outperformed the market over the past one month till 2 June 2016, gaining 9.63% compared with Sensexs 5.53% gains. The scrip had, however, underperformed the market in past one quarter, rising 9.06% as against Sensexs 10.73% gains.

The small-cap company has equity capital of Rs 55.60 crore. Face value per share is Rs 10.

Sical Logistics announced that its subsidiary Sical Iron Ore Terminals has been awarded the letter of intent by Kamarajar Port for modification of the existing iron ore terminal on as is where is to also handle common user coal at Kamarajar Port on design, build, finance, operate, and transfer (DBFOT) basis.

Sical Logistics consolidated net profit fell 48.6% to Rs 8.34 crore on 26% growth in net sales to Rs 239.05 crore in Q4 March 2016 over Q4 March 2015.

Sical Logistics is integrated logistics solutions provider with over 5 decades of experience in providing end to end logistics solutions.

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