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Hindalco Inds surges after better-than-expected Q2 results from Alcoa
Jul 12,2016

Meanwhile, the S&P BSE Sensex was up 74.49 points or 0.27% at 27,701.18.

On BSE, so far 13.15 lakh shares were traded in the counter as against average daily volume of 13.63 lakh shares in the past one quarter. The stock hit a high of Rs 136.15 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 130 so far during the day. The stock had hit a 52-week low of Rs 58.85 on 12 February 2016. The stock had outperformed the market over the past one month till 11 July 2016, surging 12.02% compared with Sensexs 3.72% rise. The scrip had also outperformed the market in past one quarter, advancing 39.74% as against Sensexs 10.41% rise.

The large-cap company has equity capital of Rs 206.50 crore. Face value per share is Rs 1.

Alcoas consolidated net profit fell 3.57% to $135 million on 10% decline in revenue to $5.3 billion in Q2 June 2016 over Q2 June 2015. Alcoa attributed the decline in top line during the quarter to lower aluminum and alumina pricing and the impact of curtailed, divested and closed operations.

Hindalco Industries US subsidiary Novelis is in the similar line of business as Alcoa.

Hindalco Industries net profit rose 123.4% to Rs 356.33 crore on 7.3% decline in net sales to Rs 8542.66 crore in Q4 March 2016 over Q4 March 2015.

A part of the Aditya Birla Group, Hindalco Industries is the worlds largest aluminium rolling company and one of the biggest producers of primary aluminium in Asia. Its copper smelter is amongst the largest single location custom smelter globally.

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Maruti Suzuki gains on weakness in Japanese yen
Jul 12,2016

Meanwhile, the BSE Sensex was up 66.70 points, or 0.24%, to 27,693.39.

On BSE, so far 21,000 shares were traded in the counter, compared with an average volume of 76,936 shares in the past one quarter. The stock hit a high of Rs 4,343 and a low of Rs 4,273 so far during the day. The stock hit a 52-week high of Rs 4,789 on 23 November 2015. The stock hit a 52-week low of Rs 3,202.10 on 29 February 2016. The stock had outperformed the market over the past one month till 11 July 2016, rising 3.77% compared with 3.72% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 22.84% as against Sensexs 10.41% rise.

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

A weak yen is expected to boost operating margins for Maruti Suzuki India. 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 Suzuki Indias domestic sales dropped 10.2% to 92,133 units in June 2016 over June 2015. Exports slumped 44.7% to 6,707 units in June 2016 over June 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 Suzuki India is Indias biggest car maker in terms of market share. Japanese parent Suzuki Motor Corporation currently holds 56.21% stake in Maruti (as per the shareholding pattern as on 31 March 2016).

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Igarashi Motors declines as OFS floor price fixed at discount to ruling market price
Jul 12,2016

Meanwhile, the S&P BSE Sensex was up 66.79 points or 0.24% at 27,693.48.

On BSE, so far 18,000 shares were traded in the counter as against average daily volume of 10,223 shares in the past one quarter. The stock hit a high of Rs 704 and a low of Rs 680 so far during the day. The stock had hit a 52-week low of Rs 372 on 1 March 2016. The stock had hit a record high of Rs 774 on 5 August 2015. The stock had outperformed the market over the past one month till 11 July 2016, surging 8.72% compared with Sensexs 3.72% rise. The scrip had also outperformed the market in past one quarter, advancing 16.82% as against Sensexs 10.41% rise.

The small-cap company has equity capital of Rs 30.61 crore. Face value per share is Rs 10.

Igarashi Motors Indias promoter P. Mukund is selling 33.20 lakh equity shares, representing 10.35% of the equity share capital of the company, through Offer for Sale (OFS) via the stock exchanges mechanism. The floor price for the OFS was fixed at Rs 650 per share. The floor price is at a discount of 7.34% to the stocks closing price of Rs 701.50 on BSE yesterday, 11 July 2016.

As at 10:25 IST, the OFS received bids for a total of 44,335 shares from non-retail investors as against 29.88 lakh shares on offer for this category of investors.

Bidding for the shares in the OFS by non-retail investors takes place in a single trading session today, 12 July 2016. However, those non-retail investors who have placed their bids today, 12 July 2016 and have chosen to carry forward their bids to tomorrow, 13 July 2016, will be allowed to revise their bids tomorrow, 13 July 2016. Bidding by retail investors will take place in a single trading session tomorrow, 13 July 2016.

P. Mukund held 32.6% stake in Igarashi Motors India (as per the shareholding pattern as on 31 March 2016).

Igarashi Motors Indias net profit rose 8.9% to Rs 18.55 crore on 24.3% growth in net sales to Rs 126.63 crore in Q4 March 2016 over Q4 March 2015.

Igarashi Motors India manufactures automobile parts. The company specializes in the design and manufacture of small, permanent magnet DC motors and gear motors.

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Quess Corp sees strong debut
Jul 12,2016

The stock debuted at Rs 499, a premium of 57.41% to the initial public offer (IPO) price. So far the stock hit a high of Rs 507 and low of Rs 480.05. On BSE, 17.01 lakh shares were traded on the counter.

Quess Corp had priced its initial public offer (IPO) at Rs 317 per share -- the top end of the Rs 310 to Rs 317 per share price band for the issue.

The IPO closed on 1 July 2016 with strong response from investors. The issue received bids for a total of 102.54 crore shares on the last day of bidding for the IPO on Friday, 1 July 2016, as per data from the National Stock Exchange (NSE) website. The IPO was subscribed 144.50 times. The qualified institutional buyers (QIBs) category was subscribed 59.03 times. The non-institutional investors category was subscribed 392.21 times. The retail individual investors (RIIs) category was subscribed 34.08 times.

The company had raised Rs 180 crore by selling 56.78 lakh shares to a total of 15 anchor investors ahead of the opening of the IPO. The shares were allotted to the anchor investors at Rs 317 per share, the top end of the Rs 310 to Rs 317 per share price band for the IPO. Among the anchor investors, Morgan Stanley Mauritius Company was allotted 12.61 lakh shares. Other investors include, Kuwait Investment Authority Fund, ICICI Prudential Midcap Fund, HDFC Mutual Fund, Reliance Mutual Fund, FIL Investments (Mauritius) and SBI Mutual Fund, among others.

The proceeds from the IPO will be used for funding expansion of business, potential acquisition opportunities, for repayment of loan from the Bank of Nova Scotia and for meeting working capital requirements. Quess Corp provides comprehensive solutions including recruitment, temporary staffing, technology staffing, IT products and solutions, skill development, payroll, compliance management, integrated facility management and industrial asset management services.

Based on consolidated financial performance, Quess Corp registered net profit of Rs 88.52 crore on revenue from operations of Rs 3435.01 crore for the year ended 31 March 2016.

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Greaves Cotton gains after foraying into multi-brand spares business
Jul 12,2016

The announcement was made during trading hours today, 12 July 2016.

Meanwhile, the BSE Sensex was up 57.43 points, or 0.21%, to 27,684.12.

On BSE, so far 46,000 shares were traded in the counter, compared with an average volume of 22,331 shares in the past one quarter. The stock hit a high of Rs 145 and a low of Rs 141.10 so far during the day. The stock hit a record high of Rs 162.40 on 20 November 2015. The stock hit a 52-week low of Rs 114.20 on 29 February 2016. The stock was flat in the past one month till 11 July 2016, underperforming the Sensexs 3.72% rise during that period. The scrip had also underperformed the market in past one quarter, rising 8.82% as against Sensexs 10.41% rise.

The mid-cap company has an equity capital of Rs 48.84 crore. Face value per share is Rs 2.

Greaves Cotton announced its foray into multi-brand spares business, an extension to its after-market services. The engineering major, with a strong presence in the after-market services with a network of over 3,000 outlets spread across the country, will provide a complete range of multi-brand spares across categories like engine, transmission, electrical, rubber parts, lubricants and body parts.

The company, will initially, offer fast-moving vehicle and engine spare parts through its strong retail network. This will be in addition to generic parts. In the next phase even relatively slow- moving parts will also be offered to customers thus becoming a one-stop-shop for most parts requirements irrespective of the brand of 3-wheeler passenger and commercial vehicles. The company said it will be the first to offer spares across all categories in three wheeler segment.

Sunil Pahilajani, the companys MD & CEO said that there is a vast untapped potential in the after-market space. To begin with, the company has tied up with more than 40 vendors for the supply of various spares. With its strong and increasing network across the country, the company is in a position to provide one-stop solution to its customers. The company has a strong distribution channel and service network which can be utilised to serve customers of other brands. All other brands are not doing enough in this space and the company believes there is an opportunity to create value, he added.

Greaves Cotton will be using its manufacturing facility and sourcing capability to produce and source vehicle and engine parts. The company further plans to increase its footprint by adding an additional 1500 outlets in the coming three to five years.

Currently, the size of the spare part markets in India is Rs 3500 crore in the space that Greaves Cotton is addressing.

Greaves Cottons net profit rose 47.8% to Rs 42.74 crore on 3% rise in net sales to Rs 403.83 crore in Q4 March 2016 over Q4 March 2015.

Greaves Cotton is one of the leading engineering companies in India with core competencies in diesel/petrol engines, farm equipment and gensets. The company sustains its leadership through seven manufacturing units which produces world class products backed by superior R&D, comprehensive marketing and service/parts network.

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Birla Corp moves higher as Reliance MF purchases bulk shares
Jul 12,2016

Meanwhile, the S&P BSE Sensex was up 55.49 points or 0.2% at 27,682.18.

On BSE, so far 8,326 shares were traded in the counter as against average daily volume of 35,817 shares in the past one quarter. The stock hit a high of Rs 559.40 and a low of Rs 550.80 so far during the day. The stock had hit a 52-week high of Rs 571.90 on 30 June 2016. The stock had hit a 52-week low of Rs 322 on 26 February 2016. The stock had outperformed the market over the past one month till 11 July 2016, surging 29.79% compared with Sensexs 3.72% rise. The scrip had also outperformed the market in past one quarter, advancing 36.77% as against Sensexs 10.41% rise.

The mid-cap company has equity capital of Rs 77.01 crore. Face value per share is Rs 10.

HDFC Mutual Fund A/C HDFC Prudence Fund sold 8.57 lakh shares of Birla Corporation at Rs 542.02 per share on the BSE yesterday, 11 July 2016.

Birla Corporations net profit surged 306.4% to Rs 115.66 crore on 9.4% growth in net sales to Rs 856.05 crore in Q4 March 2016 over Q4 March 2015.

Birla Corporation is engaged in the manufacturing of cement, jute goods, polyvinyl chloride floor covering goods, auto trim parts and, iron and steel castings.

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Shriram EPC spurts on plan to convert debt into equity
Jul 12,2016

Meanwhile, the BSE Sensex was up 87.05 points, or 0.32%, to 27,713.74.

On BSE, so far 1.65 lakh shares were traded in the counter, compared with an average volume of 10,373 shares in the past one quarter. The stock hit a high of Rs 29.60 and a low of Rs 27.50 so far during the day. The stock hit a 52-week high of Rs 39.60 on 11 August 2015. The stock hit a record low of Rs 19 on 8 June 2016. The stock had outperformed the market over the past one month till 11 July 2016, rising 7.17% compared with 3.72% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 2.50% as against Sensexs 10.41% rise.

The small-cap company has an equity capital of Rs 330.63 crore. Face value per share is Rs 10.

Shriram EPC said that its board approved conversion of the working capital term loan of the corporate debt restructuring (CDR) lenders into equity shares of the company to the maximum extent of Rs 1280 crore, subject to the shareholders and other regulatory approvals, at a price to be determined as per regulations. The board also approved preferential issue to the holding company, SVL, (erstwhile Shriram Industrial Holdings) of Rs 265 crore, subject to shareholders and other regulatory approvals, at a price to be determined as per regulations.

Shriram EPC reported net loss of Rs 198.28 crore in Q4 March 2016, higher than net loss of Rs 90.73 crore in Q4 March 2015. Net sales declined 9.8% to Rs 139.72 crore in Q4 March 2016 over Q4 March 2015.

Shriram EPC offers design, engineering, procurement, construction and project management services for power plants.

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Coal India drops after buyback announcement
Jul 12,2016

The announcement was made after market hours yesterday, 11 July 2016.

Meanwhile, the S&P BSE Sensex was up 82.99 points or 0.3% at 27,709.68.

On BSE, so far 1.24 lakh shares were traded in the counter as against average daily volume of 3.73 lakh shares in the past two weeks. The stock hit a high of Rs 322 and a low of Rs 313.50 so far during the day. The stock had hit a 52-week low of Rs 272.05 on 12 April 2016. The stock had hit a record high of Rs 447.25 on 5 August 2015.

The large-cap company has equity capital of Rs 6316.36 crore. Face value per share is Rs 10.

Coal India announced that its board of directors at a meeting held yesterday, 11 July 2016, approved the buyback of equity shares not exceeding 10.89 crore shares of the company, from all the shareholders holding equity shares of the company as on record date on a proportionate basis through the tender offer route. The buyback price was fixed at Rs 335 per share payable in cash for an aggregate consideration not exceeding Rs 3650 crore which is not exceeding 25% of the aggregate fully paid up share capital and free reserves of the company as per audited accounts of the company for the financial year ended 31 March 2016.

Coal Indias consolidated net profit rose 0.2% to Rs 4247.93 crore on 0.1% decline in net sales to Rs 20759.45 crore in Q4 March 2016 over Q4 March 2015.

State-run Coal India is Indias biggest coal miner. The Government of India currently holds 79.65% stake in Coal India (as per the shareholding pattern as on 31 March 2016).

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IndusInd Bank hits record high after announcing strong Q1 results
Jul 11,2016

The result was announced during market hours today, 11 July 2016.

Meanwhile, the S&P BSE Sensex was up 495.16 points or 1.83% at 27,622.06.

On BSE, so far 3.27 lakh shares were traded in the counter as against average daily volume of 77,432 shares in the past one quarter. The stock rose as much as 1.84% at the days high of Rs 1,147.50 so far during the day, which is a record high for the counter. The stock lost as much as 1% at the days low of Rs 1,115.50 so far during the day. The stock had hit a 52-week low of Rs 799 on 11 February 2016. The stock had outperformed the market over the past one month till 8 July 2016, gaining 1.17% compared with Sensexs 0.39% rise. The scrip had also outperformed the market in past one quarter, advancing 20.17% as against Sensexs 9.94% rise.

The large-cap bank has equity capital of Rs 595.87 crore. Face value per share is Rs 10.

IndusInd Banks gross non-performing assets (NPA) stood at Rs 860.64 crore as on 30 June 2016 compared with Rs 776.82 crore as on 31 March 2016 and Rs 570.12 crore as on 30 June 2015. The ratio of gross NPA to gross advances stood at 0.91% as on 30 June 2016 compared with 0.87% as on 31 March 2016 and 0.79% as on 30 June 2015. The ratio of net NPA to net advances stood at 0.38% as on 30 June 2016 as against 0.36% as on 31 March 2016 and 0.31% as on 30 June 2015.

The banks provisions and contingencies rose 86.87% to Rs 230.47 crore in Q1 June 2016 over Q1 June 2015.

IndusInd Bank is a leading private sector bank in India.

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IndusInd Bank retracts from record high after announcing strong Q1 results
Jul 11,2016

The result was announced during market hours today, 11 July 2016.

Meanwhile, the S&P BSE Sensex was up 495.16 points or 1.83% at 27,622.06.

On BSE, so far 3.27 lakh shares were traded in the counter as against average daily volume of 77,432 shares in the past one quarter. The stock rose as much as 1.84% at the days high of Rs 1,147.50 so far during the day, which is a record high for the counter. The stock lost as much as 1% at the days low of Rs 1,115.50 so far during the day. The stock had hit a 52-week low of Rs 799 on 11 February 2016. The stock had outperformed the market over the past one month till 8 July 2016, gaining 1.17% compared with Sensexs 0.39% rise. The scrip had also outperformed the market in past one quarter, advancing 20.17% as against Sensexs 9.94% rise.

The large-cap bank has equity capital of Rs 595.87 crore. Face value per share is Rs 10.

IndusInd Banks gross non-performing assets (NPA) stood at Rs 860.64 crore as on 30 June 2016 compared with Rs 776.82 crore as on 31 March 2016 and Rs 570.12 crore as on 30 June 2015. The ratio of gross NPA to gross advances stood at 0.91% as on 30 June 2016 compared with 0.87% as on 31 March 2016 and 0.79% as on 30 June 2015. The ratio of net NPA to net advances stood at 0.38% as on 30 June 2016 as against 0.36% as on 31 March 2016 and 0.31% as on 30 June 2015.

The banks provisions and contingencies rose 86.87% to Rs 230.47 crore in Q1 June 2016 over Q1 June 2015.

IndusInd Bank is a leading private sector bank in India.

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Zee Learn corrects on profit booking
Jul 11,2016

The result was announced after market hours on Thursday, 7 July 2016. Shares of Zee Learn rose 8.39% to Rs 32.30 on 8 July 2016.

Meanwhile, the BSE Sensex was up 485.03 points, or 1.79%, to 27,611.93.

On BSE, so far 2.20 lakh shares were traded in the counter, compared with average daily volume of 1.15 lakh shares in the past one quarter. The stock hit a high of Rs 33.50 and a low of Rs 31.20 so far during the day. The stock hit a 52-week high of Rs 46.80 on 4 December 2015. The stock hit a 52-week low of Rs 26.50 on 26.50. The stock had outperformed the market over the past 30 days till 8 July 2016, rising 14.34% compared with 1.36% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 5.56% as against Sensexs 9.94% rise.

The small-cap company has an equity capital of Rs 32.06 crore. Face value per share is Re 1.

Zee Learns net profit surged 102.78% to Rs 8.01 crore on 17.52% increase in total income from operations to Rs 42.06 crore in Q1 June 2016 over Q1 June 2015. The companys operating earnings before interest, taxes, depreciation and amortization (EBITDA) rose 58.05% to Rs 12.96 crore in Q1 June 2016 over Q1 June 2015. Operating EBITDA margin increased to 30.8% in Q1 June 2016 from 22.9% in Q1 June 2015.

Essel Group Zee Learn is one of the leading companies in the education sector.

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IndusInd Bank turns volatile after announcing Q1 results
Jul 11,2016

The result was announced during market hours today, 11 July 2016.

Meanwhile, the S&P BSE Sensex was up 433.43 points or 1.6% at 27,560.33.

On BSE, so far 2.57 lakh shares were traded in the counter as against average daily volume of 77,432 shares in the past one quarter. The stock was volatile. The stock rose as much as 1.84% at the days high of Rs 1,147.50 so far during the day, which is a record high for the counter. The stock lost as much as 0.27% at the days low of Rs 1,123.65 so far during the day. The stock had hit a 52-week low of Rs 799 on 11 February 2016. The stock had outperformed the market over the past one month till 8 July 2016, gaining 1.17% compared with Sensexs 0.39% rise. The scrip had also outperformed the market in past one quarter, advancing 20.17% as against Sensexs 9.94% rise.

The large-cap bank has equity capital of Rs 595.87 crore. Face value per share is Rs 10.

IndusInd Bank is a leading private sector bank in India.

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Jyoti Structures hits the roof on take over buzz
Jul 11,2016

Meanwhile, the BSE Sensex was up 429.88 points, or 1.58%, to 27,556.78.

On BSE, so far 20.70 lakh shares were traded in the counter, compared with average daily volume of 1.27 lakh shares in the past one quarter. The stock hit a low of Rs 12.70 in intraday trade. The stock hit a 52-week high of Rs 28.80 on 24 July 2015. The stock hit a 52-week low of Rs 8.30 on 24 May 2016. The stock had outperformed the market over the past 30 days till 8 July 2016, rising 25.80% compared with 1.36% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 2.32% as against Sensexs 9.94% rise.

The small-cap company has an equity capital of Rs 21.91 crore. Face value per share is Rs 2.

According to reports, Amin group, which has business interests ranging from medical and health to power generation and transmission, will invest Rs 500 crore as equity for a majority stake in Jyoti Structures. This will be the first stake sale by the contractor of transmission projects since lenders took its control after a strategic debt restructuring (SDR). Post the transaction, promoter stake in the company is expected to halve from the current 23.5%, reports added.

In August 2015, consortium of 21 banks led by State Bank of India had taken operational control of the company by invoking SDR. Jyoti Structures has debt of over Rs 3800 crore, including short term debt of Rs 3043 crore, reports added.

Jyoti Structures reported net loss of Rs 52.31 crore in Q4 March 2016 as against net loss of Rs 90.95 crore in Q4 March 2015. Net sales declined 15.88% to Rs 740.02 crore in Q4 March 2016 over Q4 March 2015.

Jyoti Structures is in turnkey/EPC projects in the field of power transmission. The companys main business focus areas are transmission lines, substations and distribution projects. The company undertakes turnkey projects on a global scale, offering a complete range of services in design, testing, manufacturing, sourcing, supply and construction with its in-house expertise.

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Jyoti Structures hits the roof on takeover buzz
Jul 11,2016

Meanwhile, the BSE Sensex was up 429.88 points, or 1.58%, to 27,556.78.

On BSE, so far 20.70 lakh shares were traded in the counter, compared with average daily volume of 1.27 lakh shares in the past one quarter. The stock hit a low of Rs 12.70 in intraday trade. The stock hit a 52-week high of Rs 28.80 on 24 July 2015. The stock hit a 52-week low of Rs 8.30 on 24 May 2016. The stock had outperformed the market over the past 30 days till 8 July 2016, rising 25.80% compared with 1.36% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 2.32% as against Sensexs 9.94% rise.

The small-cap company has an equity capital of Rs 21.91 crore. Face value per share is Rs 2.

According to reports, Amin group, which has business interests ranging from medical and health to power generation and transmission, will invest Rs 500 crore as equity for a majority stake in Jyoti Structures. This will be the first stake sale by the contractor of transmission projects since lenders took its control after a strategic debt restructuring (SDR). Post the transaction, promoter stake in the company is expected to halve from the current 23.5%, reports added.

In August 2015, consortium of 21 banks led by State Bank of India had taken operational control of the company by invoking SDR. Jyoti Structures has debt of over Rs 3800 crore, including short term debt of Rs 3043 crore, reports added.

Jyoti Structures reported net loss of Rs 52.31 crore in Q4 March 2016 as against net loss of Rs 90.95 crore in Q4 March 2015. Net sales declined 15.88% to Rs 740.02 crore in Q4 March 2016 over Q4 March 2015.

Jyoti Structures is in turnkey/EPC projects in the field of power transmission. The companys main business focus areas are transmission lines, substations and distribution projects. The company undertakes turnkey projects on a global scale, offering a complete range of services in design, testing, manufacturing, sourcing, supply and construction with its in-house expertise.

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Ashok Leyland slips amid intraday volatility
Jul 11,2016

Meanwhile, the S&P BSE Sensex was up 458.39 points or 1.69% at 27,585.29.

On BSE, so far 20.41 lakh shares were traded in the counter as against average daily volume of 14.36 lakh shares in the past one quarter. The stock was volatile. The stock lost as much as 1.38% at the days low of Rs 92.60 so far during the day. The stock rose as much as 1.59% at the days high of Rs 95.40 so far during the day. The stock had hit a record high of Rs 112.80 on 13 April 2016. The stock had hit a 52-week low of Rs 70.75 on 9 July 2015. The stock had underperformed the market over the past one month till 8 July 2016, sliding 11.16% compared with Sensexs 0.39% rise. The scrip had also underperformed the market in past one quarter, declining 12.24% as against Sensexs 9.94% rise.

The large-cap company has equity capital of Rs 284.59 crore. Face value per share is Rs 1.

Ashok Leyland during market hours today, 11 July 2016 said it has secured orders for nearly 3,600 buses from various state transport undertakings (STUs) in the current financial year. These orders would be executed in the current financial year which would help the company in furthering its leadership position in buses, Ashok Leyland said in a statement.

The companys domestic market share in trucks increased to 30.1% in Q1 June 2016, from 29.2% in Q1 June 2015. Market share for domestic buses increased to 35.9% in Q1 June 2016, from 33.2% in Q1 June 2015.

Ashok Leylands Managing Director Vinod K. Dasari said the company continues to maintain growth in the domestic medium and heavy commercial vehicles (M&HCV) market. The company will continue to expand its network, launch new products, and introduce customer centric initiatives which would help it to maintain its lead, Dasari said. The focus on exports, defence and after market continues, he added.

Ashok Leylands net profit dropped 66.5% to Rs 77.02 crore on 32.9% rise in net sales to Rs 5893.49 crore in Q4 March 2016 over Q4 March 2015.

Ashok Leyland is the second largest manufacturer of commercial vehicles in terms of sales in India.

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