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ITC moves north after divestment in US subsidiary
Oct 10,2016

The announcement was made on Sunday, 9 October 2016.

Meanwhile, the S&P BSE Sensex was up 58.69 points or 0.21% at 28,119.83.

On BSE, so far 2.18 lakh shares were traded in the counter as against average daily volume of 9.24 lakh shares in the past one quarter. The stock hit a high of Rs 242.75 and a low of Rs 240.55 so far during the day. The stock had hit a 52-week high of Rs 266 on 8 September 2016. The stock had hit a 52-week low of Rs 178.67 on 29 February 2016. The stock had underperformed the market over the past one month till 7 October 2016, sliding 8.62% compared with 2.99% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 2.98% as against Sensexs 3.16% rise.

The large-cap company has equity capital of Rs 1211.16 crore. Face value per share is Rs 1.

ITCs corporate management committee approved divestment of the companys entire shareholding (204 shares of common stock with no par value) in King Maker Marketing Inc, US, a wholly-owned subsidiary, along with assignment of certain trademarks owned by the company. The consideration to be received is estimated around $24 million in terms of the share purchase agreement and subject to regulatory approvals and customary closing conditions, ITC said. The buyer in the transaction is Premier Manufacturing, Inc., USA, it added.

ITCs net profit rose 10.1% to Rs 2384.67 crore on 9.7% growth in net sales to Rs 9957.66 crore in Q1 June 2016 over Q1 June 2015.

ITC is a diversified company, with presence in cigarettes, hotels, paperboards & specialty papers, packaging, agri-business, packaged foods & confectionery, information technology, branded apparel, personal care, stationery and other FMCG products. ITC is a market leader in cigarettes.

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Bhel gains after commissioning unit of thermal power project
Oct 10,2016

The announcement was made during market hours today, 10 October 2016.

Shares of Jaiprakash Power Ventures fell 3.22%.

Meanwhile, the BSE Sensex was up 51.66 points, or 0.18%, to 28,112.80.

On BSE, so far 4.14 lakh shares were traded in the counter of Bharat Heavy Electricals, compared with average daily volume of 10.57 lakh shares in the past one quarter. The stock hit a high of Rs 136.55 and a low of Rs 134.95 so far during the day. The stock hit a 52-week high of Rs 219.70 on 27 October 2015. The stock hit a 52-week low of Rs 90.40 on 29 February 2016. The stock had underperformed the market over the past one month till 7 October 2016, falling 15.18% compared with 2.99% fall in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 3.21% as against Sensexs 3.16% rise.

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

Bharat Heavy Electricals (Bhel) said that the commissioning of the unit will result in significant improvement of electricity availability in the state of Uttar Pradesh. The project is owned by Prayagraj Power Generation Company (PPGCL), a subsidiary company of Jaiprakash Power Ventures. This is the second unit of the project to be commissioned. The first unit was commissioned earlier by Bhel in December 2015 and the third unit of the project is in an advanced stage of construction. Bhels scope in the project consisted of design, engineering, manufacture, supply, erection and commissioning of the boiler and turbine-generator (BTG) package.

Bharat Heavy Electricals (Bhel)s net profit jumped 54.2% to Rs 77.77 crore on 29% growth in net sales to Rs 5522.76 crore in Q1 June 2016 over Q1 June 2015.

State-run 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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Volumes jump at Bajaj Corp counter
Oct 10,2016

Bajaj Corp clocked volume of 2.80 lakh shares by 13:43 IST on BSE, a 115.49-times surge over two-week average daily volume of 2,000 shares. The stock rose 1.78% at Rs 408.05.

Kirloskar Oil Engines notched up volume of 5.79 lakh shares, a 43.64-fold surge over two-week average daily volume of 13,000 shares. The stock rose 2.24% at Rs 360.

Repco Home Finance saw volume of 6.63 lakh shares, a 25.45-fold surge over two-week average daily volume of 26,000 shares. The stock fell 5.57% at Rs 778.20.

AIA Engineering clocked volume of 1.29 lakh shares, a 6.17-fold surge over two-week average daily volume of 21,000 shares. The stock lost 1.12% at Rs 1,278.70.

Tribhovandas Bhimji Zaveri (TBZ) saw volume of 6.57 lakh shares, a 5.36-fold rise over two-week average daily volume of 1.23 lakh shares. The stock surged 8.14% at Rs 82.35.

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JSW Steel extends gains after reporting highest ever quarterly crude steel production
Oct 10,2016

The announcement was made during market hours today, 10 October 2016.

Meanwhile, the S&P BSE Sensex was up 71.42 points or 0.25% at 28,132.56.

On BSE, so far 51,860 shares were traded in the counter as against average daily volume of 76,251 shares in the past two weeks. The stock hit a high of Rs 1,821.35 and a low of Rs 1,779.50 so far during the day. The stock had hit a record high of Rs 1,886.50 on 8 September 2016. The stock had hit a 52-week low of Rs 855.55 on 9 November 2015. The stock had underperformed the market over the past one month till 7 October 2016, falling 4.1% compared with 2.99% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, advancing 21.3% as against Sensexs 3.16% rise.

The large-cap company has an equity capital of Rs 241.72 crore. Face value per share is Rs 10.

JSW Steel said that crude steel production rose 22% to 3.98 million tonnes in Q2 September 2016 over Q2 September 2015. The production of flat rolled products rose 12% at 2.86 million tonnes in Q2 September 2016 over Q2 September 2015. The production of long rolled products rose 24% at 0.79 million tonnes in Q2 September 2016 over Q2 September 2015.

Separately, JSW Steel announced during market hours today, 10 October 2016 that a meeting of the board of directors will be held on 27 October 2016, to consider stock split. The board of directors will also consider and announce Q2 results of the company on that day.

Separately, JSW Steel announced after market hours on Friday, 7 October 2016, that it has been declared a preferred bidder in 5 mines in the auctions for category C mines conducted by state government of Karnataka. The auction was conducted during the period 1 October 2016 to 6 October 2016. The estimated resources in these 5 mines as per the tender documents are around 111 million tonnes. The highest final offer price by the company to become a preferred bidder is in the range of 58.9% to 102.52% of average monthly prices of iron ore of different grades and quality published by Indian Bureau of Mines in Karnataka from time to time. The company will take all requisite steps as per the tender documents to obtain letter of intent, all statutory clearances, execute mine development & production agreement (MOPA) and start the mining operations.

On consolidated basis, JSW Steels net profit jumped 5133.6% to Rs 1109 crore on 2.4% rise in net sales to Rs 11542.38 crore in Q1 June 2016 over Q1 June 2015.

JSW Steel is an integrated steel company and a part of JSW group.

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Dr Reddys Lab inches up on foray into Columbia
Oct 10,2016

The announcement was made after market hours on Friday, 7 October 2016.

Meanwhile, the S&P BSE Sensex was up 61.98 points or 0.22% at 28,123.12.

On BSE, so far 7,996 shares were traded in the counter as against average daily volume of 35,802 shares in the past one quarter. The stock hit a high of Rs 3,084 and a low of Rs 3,052.05 so far during the day. The stock had hit a record high of Rs 4,382.95 on 20 October 2015. The stock had 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 7 October 2016, sliding 2.76% compared with 2.99% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, declining 13.36% as against Sensexs 3.16% rise.

The large-cap company has equity capital of Rs 85.39 crore. Face value per share is Rs 5.

Ramana, Executive Vice President and Head, Branded Markets, Global Generics, Dr Reddys Laboratories (DRL) said that the companys initial focus would be to provide access to affordable cancer medicines to patients through its proven portfolio of oncology products.

Dr Reddys Laboratories consolidated net profit fell 76.3% to Rs 153.50 crore on 14.1% decline in net sales to Rs 3212.30 crore in Q1 June 2016 over Q1 June 2015.

Dr Reddys Laboratories is an integrated global pharmaceutical company. It offers a portfolio of products and services including active pharmaceutical ingredients (APIs), custom pharmaceutical services, generics, biosimilars and differentiated formulations.

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Shriram City Union Finance gains after raising funds
Oct 10,2016

The announcement was made after market hours on Friday, 7 October 2016.

Meanwhile, the BSE Sensex was up 70.72 points, or 0.25%, to 28,131.86.

On BSE, so far 1,031 shares were traded in the counter, compared with an average volume of 2,164 shares in the past one quarter. The stock hit a high of Rs 2,290.60 and a low of Rs 2,197.15 so far during the day. The stock hit a record high of Rs 2,354 on 28 September 2016. The stock hit a 52-week low of Rs 1,336.75 on 18 January 2016. The stock had outperformed the market over the past one month till 7 October 2016, rising 0.02% compared with 2.99% fall in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 27.91% as against Sensexs 3.16% rise.

The large-cap company has an equity capital of Rs 65.93 crore. Face value per share is Rs 10.

Shriram City Union Finance announced that the Banking and Securities Management Committee as empowered by the companys board of directors in a meeting held on 7 October 2016 allotted 1,000 secured non convertible redeemable debentures of face value of Rs. 10 lakh each aggregating to Rs 100 crore to two investors of the company.

Shriram City Union Finances net profit rose 23.1% to Rs 181.79 crore on 15% rise in total income to Rs 1055 crore in Q1 June 2016 over Q1 June 2015.

Shriram City Union Finance is Indias premier financial services company specializing in retail finance. It has a comprehensive range of offerings comprising finance for two wheelers and three wheelers, four wheeler finance (both new and pre-owned passenger and commercial vehicles), personal loans, small business loans, and loan against gold.

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D B Corp spurts on reports of buy rating from a domestic brokerage
Oct 10,2016

Meanwhile, the S&P BSE Sensex was up 68.13 points or 0.24% at 28,129.27.

On BSE, so far 12,000 shares were traded in the counter as against average daily volume of 16,449 shares in the past one quarter. The stock hit a high of Rs 424 and a low of Rs 394 so far during the day. The stock had hit a record high of Rs 439 on 3 August 2016. The stock had hit a 52-week low of Rs 286.55 on 21 January 2016. The stock had underperformed the market over the past one month till 7 October 2016, sliding 6.78% compared with 2.99% fall in the Sensex. The scrip had also underperformed the market in past one quarter, advancing 0.16% as against Sensexs 3.16% rise.

The mid-cap company has equity capital of Rs 183.81 crore. Face value per share is Rs 10.

The domestic brokerage reportedly said that slew of elections are expected to keep advertisement growth healthy. D B Corp is confident of 12-14% advertisement compound annual growth rate (CAGR) over FY 2016-18, the brokerage said. Stock valuation looks attractive at current level, the brokerage reportedly added.

On a consolidated basis, D B Corps net profit rose 61.7% to Rs 103.96 crore on 19.4% growth in net sales to Rs 574.51 crore in Q1 June 2016 over Q1 June 2015.

D B Corp is one of the leading print media companies in India.

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Piramal Enterprises gains after buying five products from Janssen
Oct 10,2016

The announcement was made before market hours today, 10 October 2016.

Meanwhile, the BSE Sensex was up 77.01 points, or 0.27%, to 28,138.15.

On BSE, so far 1,508 shares were traded in the counter, compared with average daily volume of 23,447 shares in the past one quarter. The stock hit a high of Rs 1,880 and a low of Rs 1,865 so far during the day. The stock hit a record high of Rs 2,095 on 22 August 2016. The stock hit a 52-week low of Rs 835.05 on 3 March 2016. The stock had outperformed the market over the past one month till 7 October 2016, falling 0.85% compared with 2.99% fall in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 21.39% as against Sensexs 3.16% rise.

The large-cap company has equity capital of Rs 34.51 crore. Face value per share is Rs 2.

Piramal Enterprises announced that its wholly owned Critical Care subsidiary in the UK has entered into an agreement to acquire five anesthesia and pain management injectable products from Janssen Pharmaceutica NV, in an all cash deal for an upfront consideration of $155 million, and up to an additional $20 million. The products to be acquired are five injectable versions of well-established Janssen brands, Sublimaze (fentanyl citrate), Sufenta (sufentanil citrate), Rapifen (alfentanil hydrochloride), Dipidolor (piritramide), and Hypnomidate (etomidate). Janssen Pharmaceutica NV is a global pharma company.

Piramal has agreed to acquire the brand names and all related intellectual property (IP) as associated with the products, including the know-how to make both the active pharmaceutical ingredients (API) and the finished dosage forms of the products. The products are currently marketed in over 50 countries. The potential acquisition does not include the transfer of any manufacturing facilities or employees. As part of the transaction, Janssen will continue to supply finished dosage forms for up to three years and API for up to five years. Janssen will continue to sell the products on behalf of Piramal until the marketing authorizations or relevant business relations are transferred to Piramal. Janssen can earn up to an additional $20 million if the product portfolio achieves certain agreed financial milestones over the next 30 months. The transaction is expected to close this week. The completion of the transaction is not subject to any further regulatory approvals.

Commenting on the acquistion, Ajay Piramal, Chairman, Piramal Enterprises said, healthcare is an important focus area for Piramal Enterprises and the company is strongly committed to growing this segment. The healthcare segment has grown at 17% CAGR over the last five years. This would be companys 6th healthcare acquisition in the last two years, inorganically investing Rs 1800 crore across healthcare businesses. This acquisition is critical in shaping product offerings, providing access to global markets and leveraging existing capabilities. This acquisition is an important step in enabling Piramal Critical Care to start to address the global generic injectable hospital drug market which is greater than $20 billion in size, he added.

On consolidated basis, Piramal Enterprises net profit rose 36.3% to Rs 230.93 crore on 26.7% growth in net sales to Rs 1761.05 crore in Q1 June 2016 over Q1 June 2015.

Piramal Enterprises is one of Indias large diversified companies with a presence in healthcare, healthcare information management and financial services.

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Tata Steel gains on reports foreign brokerage maintains outperform rating
Oct 10,2016

Meanwhile, the S&P BSE Sensex was up 81.29 points or 0.29% at 28,142.43.

On BSE, so far 4.89 lakh shares were traded in the counter as against average daily volume of 10.08 lakh shares in the past one quarter. The stock hit a high of Rs 418.25 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 409 so far during the day. The stock had hit a 52-week low of Rs 211.30 on 12 February 2016. The stock had outperformed the market over the past one month till 7 October 2016, advancing 4.22% compared with 2.99% fall in the Sensex. The scrip had also outperformed the market in past one quarter, surging 27.94% as against Sensexs 3.16% rise.

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

The brokerage reportedly said that imposition of anti-dumping duty in European Union is a big positive for the Tata Steel stock. The brokerage has reportedly increased FY 2018 earnings per share (EPS) estimates of Tata Steel by 6% on higher EBITDA/tonne in Europe. Tata Steel remains cheap on EV/EBITDA valuation, the brokerage added.

On a consolidated basis, Tata Steel reported net loss of Rs 3183.07 crore in Q1 June 2016 as against net loss of Rs 316.91 crore in Q1 June 2015. Net sales declined 5.7% to Rs 25155.98 crore in Q1 June 2016 over Q1 June 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.

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A2Z Infra surges on new order win
Oct 10,2016

The announcement was made after market hours on Friday, 7 October 2016.

Meanwhile, the S&P BSE Sensex was up 56.70 points or 0.2% at 28,117.84.

On BSE, so far 1.70 lakh shares were traded in the counter as against average daily volume of 2.57 lakh shares in the past one quarter. The stock hit a high of Rs 39.05 and a low of Rs 37.85 so far during the day. The stock had hit a 52-week high of Rs 46 on 5 July 2016. The stock had hit a 52-week low of Rs 16.50 on 12 February 2016. The stock had underperformed the market over the past one month till 7 October 2016, sliding 3.57% compared with 2.99% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 15.53% as against Sensexs 3.16% rise.

The small-cap company has equity capital of Rs 129.62 crore. Face value per share is Rs 10.

A2Z Infra Engineering announced that it has received a contract from Jharkhand Urja Sancharan Nigam (JUSNL) for design, engineering, supply, erection, testing and commissioning on turnkey basis of deposit work of Steel Authority of India (SAIL). Total contract price of the work is around Rs 96 crore.

A2Z Infra Engineering reported a net loss of Rs 18.75 crore in Q1 June 2016, lower than net loss of Rs 34.21 crore in Q1 June 2015. Net sales surged 148.5% to Rs 202.70 crore in Q1 June 2016 over Q1 June 2015.

A2Z Infra Engineering (formerly known as A2Z Maintenance & Engineering Services) is a fast growing, fully integrated electrical business group (EBG) in India catering to the needs of domestic and international power sector clients in building distribution and transmission infrastructure.

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Adani Transmission gains after completing acquisition of GMR Energys transmission assets
Oct 10,2016

The announcement was made after market hours on Friday, 7 October 2016.

Meanwhile, the S&P BSE Sensex was up 63.08 points or 0.22% at 28,124.22.

On BSE, so far 42,454 shares were traded in the counter as against average daily volume of 2.79 lakh shares in the past one quarter. The stock hit a high of Rs 42.90 and low of Rs 42 so far during the day. The stock had hit a record high of Rs 44.55 on 5 October 2016. The stock had hit a 52-week low of Rs 26.30 on 29 February 2016. The stock had outperformed the market over the past one month till 7 October 2016, gaining 4.67% compared with 2.99% fall in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 10.81% as against Sensexs 3.16% rise.

The mid-cap company has equity capital of Rs 1099.81 crore. Face value per share is Rs 10.

Adani Transmission (ATL) completed the acquisition of 74% shares of Maru Transmission Service Company Limited (MTSCL) and 49% shares of Aravali Transmission Service Company Limited (ATSCL). MTSCL and ATSCL are the operational transmission assets of GMR Energy. While payment has been made for 100% stake in both the companies, the remaining stake in both the companies will be transferred to ATL in a manner consistent with the transmission service agreement. This acquisition is in sync with ATL strategy to enhance the value for its stakeholders, through organic as well as inorganic growth.

With these acquisitions, cumulative network of ATL will reach around 10,900 circuit kilometre (ckt kms), out of which around 9,000 ckt kms are under operation (including 3,500 ckt kms under process of acquisition) and approximate 1,900 ckt kms are under various stages of construction. With this scale of operations, ATL will enjoy substantial benefit of scale driving in terms of cost optimization and shared resources.

On 1 July 2016, Adani Transmission had said that it signed definitive agreement with GMR Energy to acquire 49% stake of ATSCL and 74% stake of MTSCL with an option to acquire 100% in both the companies in a manner consistent with transmission service agreement and applicable consents. The cost of acquisition of 100% stake of MTSCL was around Rs 60.35 crore. The cost of acquisition of 100% stake of ATSCL was around Rs 40 crore.

Recently, ATL successfully concluded two capital market fund raising programmes - US dollar bond with overwhelming responses from global investors across Asia, USA, London and rupee denominated INR offshore bond (masala bond), the company said in a statement.

Adani Transmission made its debut on the bourses as a separate listed entity on 31 July 2015 after a Composite Scheme of Arrangement between Adani Enterprises, Adani Ports and Special Economic Zone, Adani Power, Adani Transmission and Adani Mining Private Limited.

Adani Transmissions consolidated net profit jumped 297.2% to Rs 122.71 crore on 35% rise in net sales to Rs 632.01 crore in Q1 June 2016 over Q1 June 2015.

Adani Transmission is into power transmission business and is a part of business conglomerate Adani Group.

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Sunil Hitech Engg jumps on bonus issue proposal
Oct 10,2016

The announcement was made after market hours on Friday, 7 October 2016.

Meanwhile, the S&P BSE Sensex was up 42.98 points or 0.15% at 28,104.12.

On BSE, so far 1.49 lakh shares were traded in the counter as against average daily volume of 1.26 lakh shares in the past one quarter. The stock hit a high of Rs 358 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 330.95 so far during the day. The stock had hit a 52-week low of Rs 155 on 24 June 2016. The stock had outperformed the market over the past one month till 7 October 2016, gaining 30.21% compared with 2.99% fall in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 82.08% as against Sensexs 3.16% rise.

The small-cap company has equity capital of Rs 18.90 crore. Face value per share is Rs 10.

Sunil Hitech Engineers net profit rose 8% to Rs 11.89 crore on 6.3% growth in net sales to Rs 443.77 crore in Q1 June 2016 over Q1 June 2015.

Sunil Hitech Engineers is an engineering, procurement & construction (EPC) company.

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RBL Bank gains after joining hands with NeoGrowth and OPIC for SME financing
Oct 10,2016

The announcement was made after market hours on Friday, 7 October 2016.

Meanwhile, the S&P BSE Sensex was up 69.93 points or 0.25% at 28,131.07.

On BSE, so far 18,120 shares were traded in the counter as against average daily volume of 2.62 lakh shares in the past one month. The stock hit a high of Rs 312.50 and a low of Rs 309.20 so far during the day. The stock had hit a record high of Rs 316.80 on 1 September 2016. The stock had hit a record low of Rs 273.70 on 31 August 2016. The stock had outperformed the market over the past one month till 7 October 2016, rising 1.48% compared with 2.99% decline in the Sensex.

The large-cap bank has equity capital of Rs 369.81 crore. Face value per share is Rs 10.

RBL Bank, NeoGrowth Credit Pvt. Ltd and Overseas Private Investment Corporation (OPIC), the US Governments development finance Institution have jointly committed to provide financing for small and medium enterprises (SMEs) in the Indian retail space. RBL Bank will lend to NeoGrowth to enable it to provide loans to SMEs excluded from mainstream funding. This financing will be backed by a $5 million loan guarantee from OPIC. NeoGrowth, a non-banking finance institution, uses innovative technology to serve the funding requirements of SMEs, which do not get loans easily from commercial banks owing to their small size, inadequate credit history and lack of collateral. RBL Banks loan will allow NeoGrowth to provide loans ranging from Rs 2 lakh to Rs 75 lakh to the retail SMEs.

RBL Bank debuted on stock exchanges on 31 August 2016.

RBL Banks net profit rose 41.17% to Rs 292.49 crore on 36.46% growth in net total income to Rs 1309.75 crore in the year ended 31 March 2016 (FY 2016) over the year ended 31 March 2015 (FY 2015).

RBL Bank is professionally managed and has no identifiable promoter. As on 31 March 2016, the bank had 197 interconnected branches and 362 interconnected ATMs spread across 16 Indian states and union territories serving approximately 1.90 million customers.

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JSW Steel gains after winning five iron ore mines in Karnataka
Oct 10,2016

The announcement was made after market hours on Friday, 7 October 2016.

Meanwhile, the S&P BSE Sensex was up 139.83 points or 0.5% at 28,200.97.

On BSE, so far 1,077 shares were traded in the counter as against average daily volume of 76,251 shares in the past two weeks. The stock hit a high of Rs 1,795 and low of Rs 1,783.10 so far during the day.

The auction was conducted during the period 1 October 2016 to 6 October 2016. The estimated resources in these 5 mines as per the tender documents are around 111 million tonnes. The highest final offer price by the company to become a preferred bidder is in the range of 58.9% to 102.52% of average monthly prices of iron ore of different grades and quality published by Indian Bureau of Mines in Karnataka from time to time. The company will take all requisite steps as per the tender documents to obtain letter of intent, all statutory clearances, execute mine development & production agreement (MOPA) and start the mining operations.

On consolidated basis, JSW Steels net profit jumped 5133.6% to Rs 1109 crore on 2.4% rise in net sales to Rs 11542.38 crore in Q1 June 2016 over Q1 June 2015.

JSW Steel is an integrated steel company with an installed capacity of 18 million tonnes per annum.

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Indian Oil Corporation declines on profit booking
Oct 07,2016

Meanwhile, the BSE Sensex was down 45.07 points, or 0.16%, to 28,061.14.

On BSE, 3.43 lakh shares were traded in the counter, compared with average daily volume of 3.06 lakh shares in the past one quarter. The stock hit a high of Rs 667.20 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 637.20 so far during the day. The stock hit a 52-week low of Rs 345.05 on 12 February 2016. The stock had outperformed the market over the past 30 days till 6 October 2016, rising 14.64% compared with 2.84% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 38.71% as against Sensexs 3.61% rise.

The large-cap company has equity capital of Rs 2,427.95 crore. Face value per share is Rs 10.

Shares of Indian Oil Corporation (IOCL) rose 13.46% in five trading sessions to settle at Rs 649.45 yesterday, 6 October 2016, from its close of Rs 572.40 on 29 September 2016.

Shares of IOCL jumped 5.44% to Rs 649.45 yesterday, 6 October 2016, after the company fixed 19 October 2016 as the record date for 1:1 bonus issue. The announcement was made after market hours on Wednesday, 5 October 2016.

Meanwhile, an Indian consortium led by Oil India including Indian Oil Corporation (IOCL) and Bharat PetroResources (BPRL), a 100% subsidiary of BPCL, have successfully completed two landmark acquisitions of producing upstream assets in Russia. The consortium acquired 29.9% stake in LLC Taas-Yuryakh Neftegazodobycha (Taas Yuryakh) and 23.9% stake in JSC Vankorneft (Vankorneft) from Rosneft Oil Company, the national oil company of Russia. The announcement was made after market hours on Wednesday, 5 October 2016.

Indian Oil Corporation (IOCL)s net profit rose 25.5% to Rs 8268.98 crore on 15.3% fall in net sales to Rs 85655.31 crore in Q1 June 2016 over Q1 June 2015.

IOCL is Indias flagship national oil company, with business interests that straddle the entire hydrocarbon value chain - from refining, pipeline transportation and marketing of petroleum products to exploration & production of crude oil & gas as well as marketing of natural gas and petrochemicals. The Government of India held 58.28% stake in IOCL (as per the shareholding pattern as on 30 June 2016).

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