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Alembic Pharma sweetens after getting USFDA nod
Apr 07,2017

The announcement was made during market hours today, 7 April 2017.

Meanwhile, the S&P BSE Sensex was down 66.42 points, or 0.22%, to 29,860.92.

On the BSE, so far 13,000 shares were traded in the counter, compared with average daily volumes of 52,734 shares in the past one quarter. The stock had hit a high of Rs 635 and a low of Rs 610 so far during the day.

The stock hit a 52-week high of Rs 709.30 on 23 March 2017. The stock hit a 52-week low of Rs 515.55 on 18 April 2016. The stock had underperformed the market over the past one month till 6 April 2017, rising 2.72% compared with the Sensexs 3.55% rise. The scrip also underperformed the market over the past one quarter, rising 2.2% as against the Sensexs 11.84% advance.

The large-cap company has equity capital of Rs 37.70 crore. Face value per share is Rs 2.

Alembic Pharmaceuticals said that the company has received approval from the US Food & Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Fluoxetine Hydrochloride tablets, 10 mg and 20 mg. The approved ANDA is therapeutically equivalent to the reference listed drug product Prozac Tablets, 10 mg and 20 mg, of Eli Lilly and Company.

Fluoxetine Hydrochloride Tablets are indicated for the treatment of Major Depressive Disorder and Obsessive Compulsive Disorder in adult and pediatric patients. Fluoxetine Tablets are also indicated for the treatment of binge eating and vomiting behaviour in moderate to severe Bulimia Nersova and acute treatment of Panic Disorder, in adult patients.

Fluoxetine Hydrochloride Tablets have an estimated market size of $120 million for 12 months ended December 2015, according to IMS. Alembic Pharma now has a total of 53 ANDA approvals from the USFDA.

On a consolidated basis, net profit of Alembic Pharmaceuticals declined 67.81% to Rs 86.55 crore on 15.9% decline in net sales to Rs 769.86 crore in Q3 December 2016 over Q3 December 2015.

Alembic Pharmaceuticals, a vertically integrated research and development pharmaceutical company, manufactures and markets generic pharmaceutical products all over the world.

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Adani Transmission surges 28.59% in four sessions
Apr 07,2017

The stock has jumped 28.59% in four sessions to its current ruling price of Rs 82.75, from its close of Rs 64.35 on 31 March 2017.

Meanwhile, the S&P BSE Sensex was down 60.86 points or 0.20% at 29,866.48. The S&P BSE Mid-Cap index was up 89.61 points or 0.61% at 14,840.58.

High volumes were witnessed on the counter. On the BSE, 8.3 lakh shares were traded in the counter so far as against average daily volume of 1.83 lakh shares in the past one quarter. The stock had hit a high of Rs 83.25 in intraday trade, which is also a record high for the stock. The stock had hit a low of Rs 74.65 so far during the day. The stock had hit a 52-week low of Rs 28.35 on 20 May 2016.

The stock had outperformed the market over the past one month till 6 April 2017, gaining 21.41% compared with Sensexs 3.03% gains. The scrip had also outperformed the market in past one quarter, jumping 32.87% as against Sensexs 11.84% rise.

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

Adani Transmission (ATL) had jumped 6.06% to Rs 68.25 on 3 April 2017 after the company said that it has received the 3 letter of intents from RVPN (Rajasthan Rajya Vidyut Prasaran Nigam Limited) to construct, own, operate and maintain three transmission projects in the state of Rajasthan. The projects namely Hadoti Transmission Company (PPP-8), Barmer Transmission Company (PPP 9), and Thar Transmission Company (PPP-10) collectively have approximately 350 circuit kilometers (ckt kms) of lines and 16 substations with transformation capacity of approx. 600 MVA at voltage level of 132/220 KV. The announcement was made during market hours on 3 April 2017.

With these projects, ATL will strengthen its existent significant presence in Rajasthan with 2 operational transmission projects (i.e. Aravali & Maru transmission company) and Suratgarh Bikaner project, which is under construction, it had said.

With the completion of all the ongoing projects and acquisition of Reliance Infrastructures operational transmission assets along with these three projects, the network of ATL is expected to surpass 11000 ckt kms, ATL had added.

Adani Transmissions consolidated net profit jumped 32.8% to Rs 99.28 crore on 38.5% rise in net sales to Rs 729.22 crore in Q3 December 2016 over Q3 December 2015.

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

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Large bulk deal boosts Sobha
Apr 07,2017

Meanwhile, the S&P BSE Sensex was down 66.61 points or 0.22% at 29,860.73. The BSE Mid-Cap index was up 51.63 points or 0.36% at 14,328.17.

Bulk deal boosted volume on the scrip. On the BSE, 44.87 lakh shares were traded on the counter so far as against the average daily volumes of 41,524 shares in the past one quarter. The stock had hit a high of Rs 415 and a low of Rs 401 so far during the day.

The stock had hit a 52-week high of Rs 417 on 6 April 2017 and a 52-week low of Rs 224.05 on 22 November 2016. The stock had outperformed the market over the past one month till 6 April 2017, advancing 27.36% compared with the Sensexs 3.55% rise. The scrip also outperformed the market over the past one quarter, surging 51.59% as against the Sensexs 11.84% advance.

The mid-cap company has equity capital of Rs 96.30 crore. Face value per share is Rs 10.

On a consolidated basis, net profit of Sobha rose 7.95% to Rs 39.40 crore on 24.37% growth in net sales to Rs 540 crore in Q3 December 2016 over Q3 December 2015.

Sobha Group is one of the largest real estate organisations in India and the Middle East. It has presence in 24 cities and 13 states across India and throughout the Middle East.

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Volumes jump at Nath Bio-Genes (India) counter
Apr 07,2017

Nath Bio-Genes (India) clocked volume of 22.05 lakh shares by 12:45 IST on BSE, a 65.41-times surge over two-week average daily volume of 34,000 shares. The stock was locked at 20% upper circuit at Rs 189.70.

Sobha notched up volume of 44.82 lakh shares, a 40.4-fold surge over two-week average daily volume of 1.11 lakh shares. The stock rose 1.55% to Rs 409.40.

Laurus Labs saw volume of 5.8 lakh shares, a 31.11-fold surge over two-week average daily volume of 19,000 shares. The stock rose 0.2% to Rs 519.

BGR Energy clocked volume of 8 lakh shares, a 13.38-fold surge over two-week average daily volume of 60,000 shares. The stock jumped 17.4% to Rs 179.80.

Dhanlaxmi Bank saw volume of 38.81 lakh shares, a 13.05-fold rise over two-week average daily volume of 2.97 lakh shares. The stock hit 20% upper circuit at Rs 38.20.

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Indiabulls Ventures zooms 56.07% in ten sessions
Apr 07,2017

Meanwhile, the S&P BSE Sensex was down 66.04 points, or 0.22% at 29,861.30. The S&P BSE Small-cap index was up 61.33 points, 0.42% at 14,812.30.

High volumes were witnessed on the counter. On the BSE, 32.86 lakh shares were traded on the counter so far as against the average daily volumes of 10.07 lakh shares in the past one quarter. The stock had hit a high of Rs 70.70 so far during the day, which is also its 52-week high. The stock hit a low of Rs 68.20 so far during the day.

The stock had hit a 52-week low of Rs 13.40 on 6 April 2016. The stock had outperformed the market over the past one month till 6 April 2017, advancing 87.08% compared with the Sensexs 3.03% rise. The scrip had also outperformed the market over the past one quarter advancing 210.37% as against the Sensexs 11.84% rise.

The small-cap company has equity capital of Rs 64.04 crore. Face Value per share is Rs 2.

Shares of Indiabulls Ventures zoomed 56.07% in ten trading sessions to its current ruling price of Rs 70.70, from a close of Rs 45.30 on 23 March 2017.

Indiabulls Ventures consolidated net profit fell 54.1% to Rs 10.59 crore on 9.6% decline in total income to Rs 96.93 crore in Q3 December 2016 over Q3 December 2015.

Indiabulls Ventures (Formerly Indiabulls Securities) is one of Indias leading capital markets companies providing securities broking and advisory services. Indiabulls Ventures also provides depository services, equity research services to its clients and offers commodities trading through a separate company. These services are provided both through on-line and off-line distribution channels.

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Deepak Fertilisers crawls up after acquisition
Apr 07,2017

The announcement was made after market hours yesterday, 6 April 2017.

Meanwhile, the S&P BSE Sensex was down 71.17 points or 0.24% at 29,856.17. The S&P BSE Small-Cap index was up 60.24 points or 0.41% at 14,811.21.

On the BSE, 54,456 shares were traded on the counter so far as against the average daily volumes of 4.65 lakh shares in the past one quarter. The stock had hit a high of Rs 263.90 and a low of Rs 258 so far during the day.

The stock had hit a record high of Rs 284 on 16 January 2017 and a 52-week low of Rs 146.70 on 6 April 2016. The stock had underperformed the market over the past one month till 6 April 2017, gaining 2.91% compared with Sensexs 3.03% gains. The scrip had, however, outperformed the market in past one quarter, advancing 13.9% as against Sensexs 11.84% rise.

The small-cap company has equity capital of Rs 88.20 crore. Face value per share is Rs 10.

Deepak Fertilisers & Petrochemicals Corporation (DFPCL) said that Smartchem technologies (STL) a wholly owned subsidiary of the company has decided to acquire majority stake in Performance Chemiserve (PCPL), a company engaged in packaging services to the chemical industry since 2006.

STL proposes to take up to 76% equity stake in PCPL by way of a fresh issue to fund further growth. After the acquisition of shares by STL, PCPL would become the subsidiary of STL and step-down subsidiary of DFPCL.

Separately, DFPCL announced that the domestic gas supply to the company has been arbitrarily stopped effective from 15 May 2014, pursuant to an order passed by Ministry of Petroleum, Government of India.

The company successfully challenged the same before the Delhi High Court which vide its orders dated 7 July 2015 and 19th October, 2015 directed the Government of India to restore gas supply. Against these orders, the Government of India had filed an SLP [special leave petition] before the Supreme Court.

The Supreme Court has now disposed off the SLP filed by the Government of India. The gas restoration matter will now be finally heard by the Division Bench of Delhi High Court. The company is awaiting detailed order of the Supreme Court. The announcement was made after market hours yesterday, 6 April 2017,

DFPCLs net profit surged 104.9% to Rs 46.62 crore on 4.7% decline in net sales to Rs 1050.50 crore in Q3 December 2016 over Q3 December 2015.

DFPCL is among Indias leading producers of industrial chemicals and fertilisers. The company offers a basket of over 48 traded products which include bulk fertilizers, specialty fertilizers, water soluble fertilizers, micro nutrients and secondary nutrients.

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Deepak Fertilisers crawls up after acquiring majority stake in packaging firm
Apr 07,2017

The announcement was made after market hours yesterday, 6 April 2017.

Meanwhile, the S&P BSE Sensex was down 71.17 points or 0.24% at 29,856.17. The S&P BSE Small-Cap index was up 60.24 points or 0.41% at 14,811.21.

On the BSE, 54,456 shares were traded on the counter so far as against the average daily volumes of 4.65 lakh shares in the past one quarter. The stock had hit a high of Rs 263.90 and a low of Rs 258 so far during the day.

The stock had hit a record high of Rs 284 on 16 January 2017 and a 52-week low of Rs 146.70 on 6 April 2016. The stock had underperformed the market over the past one month till 6 April 2017, gaining 2.91% compared with Sensexs 3.03% gains. The scrip had, however, outperformed the market in past one quarter, advancing 13.9% as against Sensexs 11.84% rise.

The small-cap company has equity capital of Rs 88.20 crore. Face value per share is Rs 10.

Deepak Fertilisers & Petrochemicals Corporation (DFPCL) said that Smartchem technologies (STL) a wholly owned subsidiary of the company has decided to acquire majority stake in Performance Chemiserve (PCPL), a company engaged in packaging services to the chemical industry since 2006.

STL proposes to take up to 76% equity stake in PCPL by way of a fresh issue to fund further growth. After the acquisition of shares by STL, PCPL would become the subsidiary of STL and step-down subsidiary of DFPCL.

Separately, DFPCL announced that the domestic gas supply to the company has been arbitrarily stopped effective from 15 May 2014, pursuant to an order passed by Ministry of Petroleum, Government of India.

The company successfully challenged the same before the Delhi High Court which vide its orders dated 7 July 2015 and 19th October, 2015 directed the Government of India to restore gas supply. Against these orders, the Government of India had filed an SLP [special leave petition] before the Supreme Court.

The Supreme Court has now disposed off the SLP filed by the Government of India. The gas restoration matter will now be finally heard by the Division Bench of Delhi High Court. The company is awaiting detailed order of the Supreme Court. The announcement was made after market hours yesterday, 6 April 2017,

DFPCLs net profit surged 104.9% to Rs 46.62 crore on 4.7% decline in net sales to Rs 1050.50 crore in Q3 December 2016 over Q3 December 2015.

DFPCL is among Indias leading producers of industrial chemicals and fertilisers. The company offers a basket of over 48 traded products which include bulk fertilizers, specialty fertilizers, water soluble fertilizers, micro nutrients and secondary nutrients.

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Phoenix Mills ascends after foreign brokerage upgrade
Apr 07,2017

Meanwhile, the S&P BSE Sensex was down 94.62 points, or 0.32%, to 29,834.43. The S&P BSE Mid-Cap index was up 32.30 points, or 0.23%, to 14,308.84

On the BSE, so far 28,000 shares were traded in the counter, compared with average daily volumes of 29,683 shares in the past one quarter. The stock had hit a high of Rs 428.65 and a low of Rs 410.15 so far during the day.

The stock hit a 52-week high of Rs 445 on 8 September 2016. The stock hit a 52-week low of Rs 285.05 on 15 November 2016. The stock had outperformed the market over the past one month till 6 April 2017, advancing 7.64% compared with the Sensexs 3.55% rise. The scrip, however, underperformed the market over the past one quarter, rising 10.74% as against the Sensexs 11.84% advance.

The mid-cap company has equity capital of Rs 30.61 crore. Face value per share is Rs 2.

The foreign brokerage reportedly said that co-investment platform with CPPIB will boost long-term growth outlook. The platform expects to substantially deploy money within three years. The deal with CPPIB would reset benchmark cap rate valuations for the company, the foreign brokerage reportedly said.

Phoenix Mills and Canada Pension Plan Investment Board (CPPIB) announced participation in a strategic investment platform Island Star Mall Developers (ISMDPL) to develop, own and operate retail-led mixed-use developments across the country. CPPIB will initially own 30% in Island Star Mall with an equity commitment of approximately Rs 724 crore. CPPIB plans to invest a total of approximately Rs 1600 crore in multiple tranches, to own up to 49% stake in the platform. Pre-money enterprise value of ISMDPL is pegged at about Rs 2200 crore. The announcement was made after market hours on Wednesday, 5 April 2017. The stock fell 1.88% to settle at Rs 402.75 yesterday, 6 April 2017.

ISMDPL owns Phoenix MarketCity Bangalore, a mall which opened in 2011, with gross leasable area of 1 million sq. ft. The funds will be used for acquiring and developing both greenfield assets on newly purchased land banks, as well as existing operating retail assets. Phoenix Mills will manage all development and operational assets in ISMDPL.

On a consolidated basis, Phoenix Millss net profit fell 6.86% to Rs 44.54 crore on 11.72% decline in net sales to Rs 436.69 crore in Q3 December 2016 over Q3 December 2015.

Phoenix Mills focuses on real estate development and entertainment.

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Shriram EPC advances after subsidiary forms JV in Oman
Apr 07,2017

The announcement was made during market hours today, 7 April 2017.

Meanwhile, the S&P BSE Sensex was down 71.96 points or 0.24% at 29,855.38. The S&P BSE Small-Cap index was up 68.97 points or 0.47% at 14,819.94.

On the BSE, 45,698 shares were traded on the counter so far as against the average daily volumes of 41,282 shares in the past one quarter. The stock had hit a high of Rs 28.50 and a low of Rs 27.45 so far during the day.

The stock had hit a 52-week high of Rs 40.80 on 7 November 2016 and a record low of Rs 19 on 8 June 2016. The stock had underperformed the market over the past one month till 6 April 2017, gaining 2.38% compared with Sensexs 3.03% gains. The scrip had also underperformed the market in past one quarter, falling 4.6% as against Sensexs 11.84% rise.

The small-cap company has equity capital of Rs 822.99 crore. Face value per share is Rs 10.

Shriram EPC (FZE) Sharjah has considered to establish and incorporate a limited liability company (LLC) in Sultanate of Oman with a capital of Omani Rial (OMR) 150,000 divided into 150,000 shares of OMR 1 per share with Arken Group LLC.

Shriram EPC (FZE) Sharjah will hold 70% in the capital of the LLC and the registration of the LLC - Shriram EPC Muscat LLC, has been done on 7 March 2017.

Shriram EPC (FZE) Sharjah is a wholly owned subsidiary of Shriram EPC.

Shriram EPC reported net loss of Rs 69.37 crore in Q3 December 2016 compared with net loss of Rs 25.52 crore in Q3 December 2015. Net sales fell 12.9% to Rs 133.35 crore in Q3 December 2016 over Q3 December 2015.

Shriram EPC offers design, engineering, procurement, construction and project management services for infrastructure projects.

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KDDL in demand after announcing strategic partnerships
Apr 07,2017

The announcement was made after market hours yesterday, 6 April 2017.

Meanwhile, the S&P BSE Sensex was down 68.03 points or 0.23% at 29,860.12. Meanwhile, the S&P BSE Small-Cap index was up 71.95 points or 0.49% at 14,822.92.

On the BSE, 5,008 shares were traded on the counter so far as against the average daily volumes of 4,493 shares in the past one quarter. The stock had hit a high of Rs 218.85 and a low of Rs 211.10 so far during the day. The stock had 52-week high of Rs 294.50 on 10 August 2016 and a 52-week low of Rs 162 on 20 May 2016.

The stock had outperformed the market over the past one month till 6 April 2017, advancing 9.5% compared with the Sensexs 3.55% rise. The scrip had, however, underperformed the market over the past one quarter, rising 3.64% as against the Sensexs 11.84% advance.

The small-cap company has equity capital of Rs 10.84 crore. Face value per share is Rs 10.

KDDL said that the companys subsidiary Ethos has entered into a strategic partnership with Nomos Glashutte SA for exclusively retailing Nomos Glashutte watches in India. In addition to this, Ethos has also entered into a strategic partnership with Oris SA for exclusively retailing Oris watches in India. Oris SA will end its association with existing retailers and will be exclusively available only at Ethos stores.

On a consolidated basis, KDDLs net profit rose 47.16% to Rs 2.59 crore on 3.62% fall in total income to Rs 126.74 crore in Q3 December 2016 over Q3 December 2015.

KDDL is a diverse company focusing on luxury retail watches and precision engineering. It has established Indias largest retail chain for premium and luxury watches- Ethos and SUMMIT. It is a global supplier of high quality watch components. Its precision stamping division offers high precision pressed components and tooling solution for a wide range of engineering applications.

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Ashoka Buildcon hits record high
Apr 07,2017

The announcement was made during market hours today, 7 April 2017.

Meanwhile, the S&P Sensex was down 71.37 points, or 0.24% at 29,855.97. The S&P BSE Mid-cap index was up 40.98 points, or 0.29% at 14,317.52.

On the BSE, 1.25 lakh shares were traded on the counter so far as against the average the daily volumes of 6.09 lakh shares in the past one quarter. The stock had hit a high of Rs 231.55 so far during the day, which is also its record high. The stock hit a low of Rs 209 so far during the day.

The stock had hit a 52-week low of Rs 111 on 7 April 2016. The stock had outperformed the market over the past one month till 6 April 2017, advancing 17.55% compared with the Sensexs 3.03% rise. The scrip had also outperformed the market over the past one quarter advancing 36.22% as against the Sensexs 11.84% rise.

The mid-cap company has equity capital of Rs 93.57 crore. Face Value per share is Rs 5.

Ashoka Buildcon said that it has received letter of award (LoA) from Mumbai International Airport (MIAL) and the LoA has been accepted by the company. It will be developing the land parcels located at Sahar (GVK SKY City Project) located near existing Chhatrapati Shivaji International Airport, Mumbai for development of commercial / office space of potential built up area of 1.08 lakh square meters for an aggregate lease period of 49 years.

The company will make payment of refundable security deposit amounting to Rs 329.35 crore and annual lease rental of Rs 15.24 crore to MIAL with an escalation of 15% every 3 years.

Ashoka Buildcons net profit rose 114.7% to Rs 42.70 crore on 17.2% increase in net sales to Rs 517.74 crore in Q3 December 2016 over Q3 December 2015.

Ashoka Buildcon is a leading highway concessionaire and engineering, procurement and construction (EPC) company.

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Tata Motors nudges higher after JLR posts record retail sales in FY 2017
Apr 07,2017

The announcement was made during market hours today, 7 April 2017.

Meanwhile, the BSE Sensex was down 54.66 points, or 0.17%, to 29,875.21.

On the BSE, 1.36 lakh shares were traded in the counter so far, compared with average daily volumes of 5.66 lakh shares in the past one quarter. The stock had hit a high of Rs 474.50 and a low of Rs 466.55 so far during the day. The stock had hit a 52-week high of Rs 598.60 on 7 September 2016. The stock had hit a 52-week low of Rs 370.75 on 7 April 2016.

The stock had underperformed the market over the past one month till 6 April 2017, gaining 0.5% compared with Sensexs 3.03% gains. The scrip had also underperformed the market in past one quarter, falling 4.97% as against Sensexs 11.84% rise.

The large-cap company has equity capital of Rs 577.47 crore. Face value per share is Rs 2.

Jaguar Land Rover, the UKs largest manufacturer of premium luxury vehicles and Tata Motors wholly owned subsidiary reported record retail sales of 6.04 lakh vehicles (including sales from its China joint venture), with sales rising 16% in the financial year ended 31 March 2017 (FY 2017) over FY 2016.

The sales exceeded 6 lakh units for the first time in the companys history. Retail sales of Jaguar Land Rover rose 13% to 1.79 lakh vehicles in Q4 March 2017 over Q4 March 2016. Sales rose 21% to 90,838 units in March 2017 over March 2016.

Retail sales for the financial year were up year-on-year in China (32%), North America (24%), the UK (16%) and Europe (13%), whilst sales in overseas markets were down 6%.

Retail sales for Jaguar were a record 1.72 lakh vehicles in the FY 2017, up 83% compared to FY 2016, primarily driven by the successful introduction of the F-PACE and solid sales of the XE and XF (including the long wheel base XFL from the China joint venture). Jaguar retail sales rose 81% to 53,972 vehicles in Q4 March 2017 over Q4 March 2016. Sales rose 83% to 27,820 units in March 2017 over March 2016.

Land Rover retailed 4.31 lakh vehicles in FY 2017, up 1% compared to last year, as continuing strong sales of the Discovery Sport, Evoque and Range Rover Sport were offset by the run-out of Defender and Discovery. Sales of the all-new Discovery began in February with 4,862 units retailed since its launch.

Retail sales for Land Rover fell 2.7% to 1.25 lakh units in Q4 March 2017 over Q4 March 2016. Retail sales rose 4.8% to 63,018 vehicles in March 2017 over March 2016. Last month Land Rover launched the Velar, a new addition to the Range Rover family, positioned between Evoque and Range Rover Sport, which will go on sale later this year, Tata Motors added.

Tata Motors consolidated net profit fell 96.2% to Rs 111.57 crore on 2.2% decline in net sales to Rs 66855.18 crore in Q3 December 2016 over Q3 December 2015.

Tata Motors is a market leader in commercial vehicles in India. The companys British luxury unit Jaguar Land Rover (JLR) sells premium luxury cars.

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Gammon Infrastructure jumps after acquiring 24% stake in ICTPL
Apr 07,2017

The announcement was made after market hours yesterday, 6 April 2017.

Meanwhile, the S&P BSE Sensex was down 86.95 points or 0.29% at 29,840.39. The S&P BSE Small-Cap index was up 33.40 points or 0.2% at 14,784.37.

On the BSE, 3.35 lakh shares were traded in the counter so far as against average daily volume of 4.99 lakh shares in the past one quarter. The stock had hit a high of Rs 4.70 and a low of Rs 4.35 so far during the day. The stock had hit a 52-week high of Rs 6.39 on 7 July 2015. The stock had hit a record low of Rs 3.41 on 1 February 2017.

The stock had outperformed the market over the past one month till 6 April 2017, gaining 5.39% compared with Sensexs 3.03% gains. The scrip had also outperformed the market in past one quarter, advancing 15.28% as against Sensexs 11.84% rise.

The small-cap company has equity capital of Rs 188.37 crore. Face value per share is Rs 2.

Gammon Infrastructure Projects said that the company through amendment agreement, acquired from Noatum Ports, S. L., Spain, 24.37 lakh equity shares of Rs 10 each of Indira Container Terminal (ICTPL), being 24% of total paid up capital of ICTPL for an aggregate consideration of Rs 15 crore.

Upon acquisition, ICTPL has become subsidiary of the company with increased shareholding from 50% to 74% in the paid up equity share capital of ICTPL. Turnover of ICTPL was Rs 18.37 crore for the financial year ended 31 March 2017.

ICTPL was incorporated on 13 September 2007 for the construction of offshore berths and development of offshore container terminal (OCT) on build, operate & transfer basis in Mumbai Harbour and the operation of Ballard Pier Station Container Terminal.

Gammon Infrastructure Projects net profit fell 86.6% to Rs 1.74 crore on 66% decline in net sales to Rs 37.56 crore in Q3 December 2016 over Q3 December 2015.

Gammon Infrastructure Projects undertakes development of infrastructure projects on public private partnership (PPP) basis.

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RBL Bank scales record high
Apr 07,2017

The announcement was made after market hours yesterday, 6 April 2017.

Meanwhile, the S&P BSE Sensex was down 82.79 points or 0.28% at 29,844.55

On BSE, so far 1.38 lakh shares were traded in the counter as against average daily volume of 3.13 lakh shares in the past one quarter. The stock hit a high of Rs 556.50 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 541.10 so far during the day. The stock had hit a record low of Rs 273.70 on 31 August 2016.

The large-cap bank has equity capital of Rs 375.20 crore. Face value per share is Rs 10.

RBL Bank yesterday, 6 April 2017 announced the opening of its IFSC Banking Unit (IBU) at the Gujarat International Finance Tec-City (GIFT City). With this, RBL Bank has commenced offshore banking operations from India. GIFT City is Indias first global financial hub.

RBL Bank received an in-principle approval from RBI for setting up IBU on 30 November 2016. The IBU will give RBL Bank access to international financial markets and the bank will offer a range of products and services to its clients. RBL Bank will raise foreign currency funds to meet its requirements in IBU and fund offshore subsidiaries of Indian companies, other foreign firms, and eligible Indian companies (via ECBs, Bonds etc.).

RBI has permitted Indian public and private sector banks to open an IBU at GIFT City to undertake foreign exchange transactions with resident and non-resident entities other than individuals. Nonresident firms can raise resources as well as deploy funds in IBU. All IBU transactions are in major global currencies other than Indian rupee.

RBL Banks MD & CEO, Vishwavir Ahuja said that the setting up of IFSC Banking Unit (IBU) at GIFT City will give the bank strategic access to offer a range of financial services including foreign currency funding to resident and overseas entities. It will also help the banks clients to tap into potential growth opportunities globally, Vishwavir Ahuja said.

RBL Banks net profit rose 58.78% to Rs 128.69 crore on 38.98% growth in net total income to Rs 1143.48 crore in Q3 December 2016 over Q3 December 2015.

RBL Bank is a private sector bank. It currently services over two million customers through a network of 215 branches and 374 ATMs spread across 16 Indian states and Union Territories. The bank offers specialized services under six business verticals namely: Corporate & Institutional Banking, Commercial Banking, Branch & Business Banking, Agribusiness Banking, Development Banking and Financial Inclusion, Treasury and Financial Markets Operations.

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Dynamatic Technologies spurts after signing agreement
Apr 07,2017

The announcement was made after market hours yesterday, 6 April 2017.

Meanwhile, the S&P BSE Sensex was down 112.71 points or 0.38% at 29,814.63. Meanwhile, the S&P BSE Mid-Cap index was down 8.52 points or 0.06% at 14,268.02.

On BSE, so far 67 shares were traded in the counter as against average daily volume of 301 shares in the past one quarter. The stock hit a high of Rs 2,988.80 and a low of Rs 2,950 so far during the day. The stock had hit a 52-week high of Rs 3,650 on 24 October 2016. The stock had hit a 52-week low of Rs 1,696 on 6 April 2016.

The small-cap company has equity capital of Rs 6.34 crore. Face value per share is Rs 10.

Dynamatic Technologies said that the company had yesterday, 6 April 2017, signed a cooperation agreement with Magal Security Systems (Magal-S3), an Israeli company. This new cooperation aims to answer the Indian increasing market demand for high-end security products and solutions for critical infrastructure, among other, to provide combined integrated border management solutions (CIBMS) aimed to address the challenges in securing our borders.

Magal S3 has unique experience in perimeter security technologies and complex technological security projects, among other, defending Israels borders, whilst Dynamatic Technologies has been a partner of Indian Defence and Security establishment for over 3 decades.

On consolidated basis, Dynamatic Technologies net profit fell 52.03% to Rs 1.18 crore on 3.59% decline in net sales to Rs 346.87 crore in Q3 December 2016 over Q3 December 2015.

Dynamatic Technologies designs and builds high precision systems and sub-systems for Aerospace, Automotive, Hydraulics, and Homeland Security & Defense.

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