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Atul Auto falls after reporting muted sales growth in June
Jul 01,2016

The announcement was made during market hours today, 1 July 2016.

Meanwhile, the S&P BSE Sensex was up 190.23 points or 0.7% to 27,189.95.

On BSE, so far 6,782 shares were traded in the counter, compared with an average volume of 5,302 shares in the past one quarter. The stock hit a high of Rs 501.20 and a low of Rs 487 so far during the day. The stock hit a 52-week high of Rs 581 on 6 January 2016. The stock hit a 52-week low of Rs 370.50 on 28 August 2015. The stock had underperformed the market over the past 30 days till 30 June 2016, gaining 0.43% compared with Sensexs 1.07% gains. The stock also underperformed the market in past one quarter, falling 5.01% as against Sensexs 6.85% rise.

The small-cap company has an equity capital of Rs 10.97 crore. Face value per share is Rs 5.

Atul Autos net profit rose 25.72% to Rs 10.85 crore on 6.01% rise in net sales to Rs 129.07 crore in Q4 March 2016 over Q4 March 2015.

Atul Auto manufactures three wheeler auto vehicles.

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HDFC Bank gains after launching full-fledged digital banking service for SME
Jul 01,2016

The announcement was made during market hours today, 1 July 2016.

Meanwhile, the BSE Sensex was up 170.83 points, or 0.63%, to 27,170.55

On BSE, so far 41,000 shares were traded in the counter, compared with an average volume of 96,868 shares in the past one quarter. The stock hit a high of Rs 1,184.60 and a low of Rs 1,175.75 so far during the day. The stock hit a record high of Rs 1,194.80 on 30 May 2016. The stock hit a 52-week low of Rs 928.80 on 29 February 2016. The stock had underperformed the market over the past 30 days till 30 June 2016, gaining 0.06% compared with Sensexs 1.07% gains. The stock, however, outperformed the market in past one quarter, rising 10.41% as against Sensexs 6.85% rise.

The large-cap company has an equity capital of Rs 507.01 crore. Face value per share is Rs 2.

HDFC Bank said that SM Bank will allow clients to access a complete suite of services instantly and round-the-clock on the device of their choice, be it a desktop, laptop, tablet or mobile. This facility does away with the need to call relationship manager or visit a branch, thereby saving considerable time and effort for the customer and is totally secure, HDFC Bank said. The facility will be available to existing customers, it added.

HDFC Banks net profit rose 20.21% to Rs 3374.22 crore on 21.15% increase in total income to Rs 18862.61 crore in Q4 March 2016 over Q4 March 2015.

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

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Sandur Manganese spurts after announcing hike in manganese ore production limit
Jul 01,2016

The announcement was made during trading hours today, 1 July 2016.

Meanwhile, the BSE Sensex was up 192.32 points, or 0.71%, to 27,192.04

On BSE, so far 31,000 shares were traded in the counter, compared with an average volume of 8,967 shares in the past one quarter. The stock hit a high of Rs 627.70 and a low of Rs 578 so far during the day. The stock hit a 52-week high of Rs 870 on 16 July 2015. The stock hit a 52-week low of Rs 280 on 26 February 2016. The stock had outperformed the market over the past 30 days till 30 June 2016, gaining 3.94% compared with Sensexs 1.07% gains. The stock, however, underperformed the market in past one quarter, rising 3.79% as against Sensexs 6.85% rise.

The small-cap company has an equity capital of Rs 8.75 crore. Face value per share is Rs 10.

Sandur Manganese & Iron Ores said that the Central Empowered Committee (CEC), constituted by the Supreme Court of India has vide letter dated 27 June 2016 communicated its approval for enhancement of companys manganese ore production limit to 0.254 million tonne per annum (MTPA) which was hitherto reduced from 0.55 MTPA to 0.18 MTPA after the Supreme Court had in January 2013 directed the Government of Karnataka to scale down the iron ore production to safeguard the environment from further degradation.

Sandur Manganese & Iron Ores had reported net loss of Rs 17.01 crore in Q4 March 2016, higher than net loss of Rs 20.09 crore in Q4 March 2015. Net sales rose 3.11% to Rs 59.73 crore in Q4 March 2016 over Q4 March 2015.

Sandur Manganese & Iron Ores is engaged in the business of mining manganese and iron ore.

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Kesar Terminals gains after board approval for 2 for 1 stock split
Jul 01,2016

The announcement was made during market hours today, 1 July 2016.

Meanwhile, the S&P BSE Sensex was up 215.70 points or 0.8% at 27,215.42.

On BSE, so far 3,131 shares were traded in the counter as against average daily volume of 13,000 shares in the past two weeks. The stock hit a high of Rs 529 and a low of Rs 514 so far during the day. The stock had hit a 52-week high of Rs 538 on 21 June 2016. The stock had hit a 52-week low of Rs 330 on 25 August 2015.

The small-cap company has equity capital of Rs 5.25 crore. Face value per share is Rs 10.

On 24 June 2016, Kesar Terminals & Infrastructures board had recommended issue of 1:25 bonus shares (one bonus share for every twenty five currently held).

On consolidated basis, Kesar Terminals & Infrastructures net profit rose 66.4% to Rs 4.21 crore on 4.06% growth in net sales to Rs 11.05 crore in Q4 March 2016 over Q4 March 2015.

Kesar Terminals is a diversified company with interests in manufacture of sugar, alcohol, production of hybrid seeds and in the service sector.

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IL&FS Transportation jumps after announcing fund raising plans
Jul 01,2016

The announcement was made during market hours today, 1 July 2016.

Meanwhile, the BSE Sensex was up 199.51 points, or 0.74%, to 27,199.23.

High volumes were witnessed on the counter. On BSE, so far 2.63 lakh shares were traded in the counter, compared with an average volume of 68,232 shares in the past one quarter. The stock hit a high of Rs 80.80 and a low of Rs 73 so far during the day. The stock hit a 52-week high of Rs 151.88 on 20 July 2015. The stock hit a record low of Rs 64 on 26 February 2016. The stock had outperformed the market over the past one month till 30 June 2016, gaining 5.01% compared with Sensexs 1.03% gains. The stock had also outperformed the market in past one quarter, rising 6.92% as against Sensexs 6.56% rise.

The mid-cap company has an equity capital of Rs 328.96 crore. Face value per share is Rs 10.

IL&FS Transportation Networks announced that the Committee of Directors had approved yesterday, 30 June 2016 the allotment of 200 rated, listed, redeemable, non-convertible debentures - the debentures of the face value of Rs 10 lakh aggregating to Rs 200 crore on a private placement basis.

On a consolidated basis, IL&FS Transportation Networks net profit rose 3.3% to Rs 80.42 crore on 78.2% rise in net sales to Rs 2547.98 crore in Q4 March 2016 over Q4 March 2015.

IL&FS Transportation Networks has grown into the largest BOT (build, operate and transfer) road assets owner in India.

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Strides Shasun gains after announcing successful completion of USFDA inspection of Bangalore unit
Jul 01,2016

The announcement was made after market hours yesterday, 30 June 2016.

Meanwhile, the S&P BSE Sensex was up 233.70 points or 0.87% at 27,232.08.

On BSE, so far 88,000 shares were traded in the counter as against average daily volume of 43,712 shares in the past one quarter. The stock hit a high of Rs 1,205 and a low of Rs 1,160 so far during the day. The stock had hit record high of Rs 1,412.45 on 23 November 2015. The stock had hit a 52-week low of Rs 848 on 29 February 2016. The stock had outperformed the market over the past 30 days till 30 June 2016, gaining 1.58% compared with Sensexs 1.07% gains. The stock, however, underperformed the market in past one quarter, rising 5.88% as against Sensexs 6.85% rise.

The large-cap company has an equity capital of Rs 89.37 crore. Face value per share is Rs 10.

Strides Shasun yesterday, 30 June 2016 announced successful completion of the United States Food and Drug Administration (USFDA) inspection of its oral dosage facility in Bangalore with Zero 483s. The audit was carried out related to a product filed from the new semi solids block from where the company has made a series of filings, Strides Shasun said. With the recently closed Establishment Inspection Report (EIR) announced on 7 June 2016, the entire facility is now USFDA compliant, the company said. The oral dosage facility in Bangalore manufactures oral dosage forms including tablets, capsules, ointments and liquids. The manufacturing plant supports important current and future submissions for the US market, it added.

Strides Shasuns consolidated net profit rose 744.04% to Rs 96.22 crore on 212.25% rise in net sales to Rs 961.20 crore in Q4 March 2016 over Q4 March 2015.

Strides Shasun is a vertically integrated global pharmaceutical company headquartered in Bangalore. The company has four business verticals, viz., Regulated Markets, Emerging Markets, Institutional Business and Pharmaceutical Services & Active Ingredients. The company has global manufacturing foot print with 12 manufacturing facilities spread across three continents including 6 US FDA approved facilities and 6 facilities for the emerging markets.

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Maruti Suzuki drops in volatile trade after reporting weak sales in June
Jul 01,2016

The announcement was made during market hours today, 1 July 2016.

Meanwhile, the S&P BSE Sensex was up 242.93 points or 0.9% at 27,242.65.

On BSE, so far 31,255 shares were traded in the counter as against average daily volume of 80,377 shares in the past one quarter. The stock was volatile. At the days high of Rs 4,213.50, the stock rose 0.67%. At the days low of Rs 4,130 so far during the day, the stock fell 1.31%. The stock had hit a 52-week low of Rs 3,202.10 on 29 February 2016. The stock had hit a record high of Rs 4,789 on 23 November 2015. The stock had outperformed the market over the past one month till 30 June 2016, gaining 2.75% compared with Sensexs 1.03% gains. The stock had also outperformed the market in past one quarter, rising 12.26% as against Sensexs 6.56% rise.

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

Maruti Suzuki India said that 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 India (MSIL) said that that there was a disruption in production during June 2016, due to the unfortunate incident of fire at Subros, a key vendor of the company. The company expects to recover the production loss during the course of the year. The company added that together with its employees and vendors, company is gradually stepping up production of newly launched models - Baleno and Brezza to service the pending demand.

Separately, Maruti Suzuki India announced after market hours yesterday, 30 June 2016, that it has signed a memorandum of understanding (MoU) with Government of Andhra Pradesh, to set up, manage and run Institute of Driving Training and Traffic Research at Venkatachalam village in Darsi, Prakasham district of Hyderabad. The infrastructure spread across 20 acres of land will be provided by the Andhra Pradesh Government, while Maruti Suzuki India will run and manage the institute. The infrastructure is expected to be completed by 2018.

Set up under the public-private-partnership (PPP) model, this will be Maruti Suzuki Indias first Institute of Driving Training and Traffic Research (IDTR) in South India. The company will undertake the training on lines of the other IDTRs including All Gujarat Institute of Driving, Technical Training and Research (AGIDTTR), Vadodara. The company plans to collaborate with the various government departments like Tribal Development Department to promote road safety and driving as an employment opportunity among the tribal youth of Andhra Pradesh. The main focus is to make people employable hence additional training in personality, hygiene, courtesy and communication is imparted to the youth.

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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Equitas Holdings scales record high after issue of banking licence by RBI
Jul 01,2016

The announcement was made before market hours today, 1 July 2016.

Meanwhile, the S&P BSE Sensex was up 216.80 points or 0.8% at 27,216.52

On BSE, so far 5.85 lakh shares were traded in the counter as against average daily volume of 5.28 lakh shares in the past two weeks. The stock hit a high of Rs 191.50 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 182.80 in intraday trade so far. The stock had hit a record low of Rs 134.15 on 21 April 2016.

The mid-cap company has equity capital of Rs 335.74 crore. Face value per share is Rs 10.

The Reserve Bank of India (RBI) has issued licence dated 30 June 2016 to Equitas Small Finance Bank to carry on the Small Finance Bank (SFB) operations in India. Equitas Holdings had on 16 June 2016 announced that the Madras High Court had approved amalgamation of Equitas Micro Finance and Equitas Housing Finance with Equitas Finance from effective date ie the working day immediately preceding the date of commencement of business of SFB. On amalgamation coming into effect, Equitas Finance will be named as Equitas Small Finance Bank which will carry on the business of small finance bank, Equitas Holdings said. Post receipt of RBI license and prior to commencement of SFB business, there are a few other approvals to be obtained from various departments of RBI and other agencies. On receipt of these approvals, Equitas Small Finance Bank will commence its operations of small finance bank, the company said.

Equitas Holdings consolidated net profit rose 28.21% to Rs 46.77 crore on 48.68% rise in total income to Rs 320.17 crore in Q4 March 2016 over Q4 March 2015.

Equitas Holdings is a diversified financial service provider focused on individuals and micro and small enterprises (MSEs) that are underserved by formal financing channels. The company offers a range of financial products and services including microfinance, used commercial vehicle finance, MSE finance and housing finance. The focus customer segment includes low-income groups and economically weaker individuals operating small businesses, as well as MSEs with limited access to formal financing channels.

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Mahanagar Gas makes stellar debut on bourses
Jul 01,2016

Meanwhile, the S&P BSE Sensex was up 212.30 points or 0.79% to 27,206.66.

The stock was listed on the bourses at Rs 540, at a premium of 28.26% over the issue price of Rs 421. The stock hit a high of Rs 549.15 and a low of Rs 521.50 so far during the day. On BSE, 19.56 lakh shares were so far traded on the counter.

The initial public offer (IPO) of city gas distribution firm Mahanagar Gas had received bids for a total of 111.95 crore shares and its IPO was subscribed 64.55 times. The shares were allotted to the investors at Rs 421 per share, the top end of the Rs 380 to Rs 421 per share price band for the IPO. The IPO had opened for bidding on 21 June 2016 and closed on 23 June 2016.

The objects of the IPO were to achieve the benefits of listing the equity shares on the stock exchanges and to carry out the offer for sale. All proceeds from the offer has gone to the selling shareholders namely GAIL (India) and BGAPH. The company is promoted by GAIL (India) and BGAPH, each of who holds 45% of the companys equity shares.

Mahanagar Gas net profit rose 2.55% to Rs 308.68 crore on 0.65% decline in revenue to Rs 2121.62 crore in the year ended 31 March 2016 (FY 2016) over the year ended 31 March 2015 (FY 2015).

Promoted by GAIL (India) and BG Asia Pacific Holdings Pte, Mahanagar Gas is one of the largest City Gas Distributors (CGD) in India and is the sole authorized distributor of CNG (compressed natural gas) and PNG (piped natural gas) to market of Mumbai, its adjoining areas and the Raigad district of Maharashtra.

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GMR Infra gains after subsidiary sells stakes in transmission projects
Jul 01,2016

The announcement was made during market hours today, 1 July 2016.

Shares of Adani Transmission gained 4.41% to Rs 40.25.

Meanwhile, the S&P BSE Sensex was up 200.15 points or 0.74% at 27,199.87.

On BSE, so far 12.23 lakh shares were traded in the counter as against average daily volume of 14.53 lakh shares in the past one quarter. The stock hit a high of Rs 13.79 and a low of Rs 13.45 so far during the day. The stock had hit a 52-week high of Rs 18.60 on 3 December 2015. The stock had hit a record low of Rs 9.58 on 4 September 2015. The stock had outperformed the market over the past one month till 30 June 2016, gaining 16.26% compared with Sensexs 1.03% gains. The stock had also outperformed the market in past one quarter, rising 16.26% as against Sensexs 6.56% rise.

The mid-cap company has equity capital of Rs 603.59 crore. Face value per share is Re 1.

GMR Energy (GEL), a subsidiary of GMR Infrastructure (GIL), has entered into definitive agreements with Adani Transmission (ATL) wherein GEL has agreed to transfer the interest in its transmission projects - Maru Transmission Services (MTSL) and Aravali Transmission Services (ATSL) to ATL. Currently, 74% stake in MTSL and 49% stake in ATSL shall be transferred to ATL with an option to acquire the balance stakes in both the projects. The consummation of transaction is subject to applicable approvals.

The equity consideration ascribed for the transaction involving both the projects is Rs 100 crore. The total value realizable for GEL could be Rs 220 crore considering this equity consideration and the expected upside of upto Rs 120 crore from regulatory proceeds of various appeals of the assets before the Appellate Tribunal For Electricity (APTEL). Post consummation of the transaction, the consolidated debt of GMR Group would be reduced. The total debt in the projects as on 31 March 2016 was Rs 324 crore.

GMR Energy was awarded two transmission projects on BOOM basis in 2010. MTSL operates 270 kilometers of 400 KV/220 KV transmission lines in Rajasthan. The project had achieved commercial operation date (COD) in 2013. ATSL operates 96 kilometers of 400 KV transmission line in Rajasthan. The project had achieved COD in 2014. All the three distribution companies of Rajasthan (Discoms) are the beneficiaries of the transmission services being provided by these Transmission SPVs. The transmission assets, MTSL and ATSL form a part of the excluded group of assets from the Tenaga transaction.

Speaking on the stake sale, Mr. GBS Raju, Business Chairman - Energy, GMR Group said GMR Group continues on the path of Asset Light Asset Right strategy. The deal will release further liquidity and deleverage the GMR balance sheet. The asset sale done at challenging market environment further signifies GMRs ability to create value for its stake holders, he added.

GMR Infrastructures consolidated net loss stood at Rs 953.50 crore in Q4 March 2016, higher than consolidated net loss of Rs 891.90 crore in Q4 March 2015. Net sales rose 29.1% to Rs 3708.37 crore in Q4 March 2016 over Q4 March 2015.

GMR Group is a leading global infrastructure conglomerate with interests in airports, energy, transportation and urban infrastructure. The group has fifteen power generation projects, nine operating road assets and a double rail track line of eastern dedicated freight corridor under development.

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PSU OMCs gain after announcing reduction in fuel prices
Jul 01,2016

Indian Oil Corporation (up 3.52%), HPCL (up 3.01%) and BPCL (up 1.96%) edged higher.

Meanwhile, the S&P BSE Sensex was up 160.68 points, or 0.6% at 27,160.40

Indian Oil Corporation after market hours yesterday, 30 June 2016, announced a decrease in the price of petrol and diesel with effect from the midnight of 30 June/1 July 2016. Petrol price was decreased by Rs 0.89 per litre and diesel price was decreased by Rs 0.49 a litre at Delhi (including state levies) with corresponding price revision in other states. After the latest revision, petrol in Delhi costs Rs 64.76 per litre and diesel costs Rs 54.70 a litre.

The government decontrolled petrol & diesel prices. Public sector oil marketing companies (PSU OMCs) undertake fuel price review twice during the month based on the trend in international oil market. The first price review takes place during the middle of the month and the second on the last day of the month.

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PSU OMCs shrug off reduction in fuel prices
Jul 01,2016

Indian Oil Corporation (up 3.52%), HPCL (up 3.01%) and BPCL (up 1.96%) edged higher.

Meanwhile, the S&P BSE Sensex was up 160.68 points, or 0.6% at 27,160.40

Indian Oil Corporation after market hours yesterday, 30 June 2016, announced a decrease in the price of petrol and diesel with effect from the midnight of 30 June/1 July 2016. Petrol price was decreased by Rs 0.89 per litre and diesel price was decreased by Rs 0.49 a litre at Delhi (including state levies) with corresponding price revision in other states. After the latest revision, petrol in Delhi costs Rs 64.76 per litre and diesel costs Rs 54.70 a litre.

The government decontrolled petrol & diesel prices. Public sector oil marketing companies (PSU OMCs) undertake fuel price review twice during the month based on the trend in international oil market. The first price review takes place during the middle of the month and the second on the last day of the month.

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Maruti gains after signing MoU with Government of Andhra Pradesh
Jul 01,2016

The announcement was made after market hours yesterday, 30 June 2016.

Meanwhile, the S&P BSE Sensex was up 171.65 points or 0.64% at 27,171.37

On BSE, so far 1,608 shares were traded in the counter as against average daily volume of 80,377 shares in the past one quarter. The stock hit a high of Rs 4,213.50 and a low of Rs 4,192.25 so far during the day. The stock had hit a 52-week low of Rs 3,202.10 on 29 February 2016. The stock had hit a record high of Rs 4,789 on 23 November 2015. The large-cap company has equity capital of Rs 151.04 crore. Face value per share is Rs 5.

Maruti Suzuki India (MSIL) announced that the company has signed a memorandum of understanding (MoU) with Government of Andhra Pradesh, to set up, manage and run Institute of Driving Training and Traffic Research at Venkatachalam village in Darsi, Prakasham district of Hyderabad. The infrastructure spread across 20 acres of land will be provided by the Andhra Pradesh Government, while Maruti Suzuki India will run and manage the institute. The infrastructure is expected to be complete by 2018.

Set up under the public-private-partnership (PPP) model, this will be Maruti Suzuki Indias first Institute of Driving Training and Traffic Research (IDTR) in South India. The company will undertake the training on lines of the other IDTRs including All Gujarat Institute of Driving, Technical Training and Research (AGIDTTR), Vadodara. The company plans to collaborate with the various government departments like Tribal Development Department to promote road safety and driving as an employment opportunity among the tribal youth of Andhra Pradesh. The main focus is to make people employable hence additional training in personality, hygiene, courtesy and communication is imparted to the youth.

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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Setco Automotive surges ahead of NSE listing
Jun 30,2016

The announcement was made after market hours yesterday, 29 June 2016.

Meanwhile, the BSE Sensex was up 283.08 points, or 1.06% to 27,023.47

On BSE, so far 10.79 lakh shares were traded in the counter as against an average daily volume of 1.34 lakh shares in the past one quarter. The stock hit a high of Rs 54.60 so far during the day, also its 52-week high. The stock hit a low of Rs 50.70 so for during the day. The stock had hit a 52-week low of Rs 28.10 on 30 March 2016.

The companys equity capital is Rs 26.72 crore. Face value per share is Rs 2.

Setco Automotive said that the National stock Exchange of India (NSE) has granted its Listing permission to list and admit the equity shares of the company on its bourse with efffect from 1 July 2016. The stock shall be traded in the normal market segment (rolling settlement) in compulsory demat for all investors on the National Stock Exchange (NSE).

Secto Automotives net profit jumped 451.85% to Rs 16.39 crore on 34.55% surge in net sales to Rs 175.21 crore in Q4 March 2016 over Q4 March 2015.

Secto Automotive is the largest manufacturer of premium quality Lipe brand clutches for commercial vehicles in India.

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Future Enterprises gains after selling 14% in subsidiary
Jun 30,2016

The announcement was made after market hours yesterday, 29 June 2016.

Meanwhile, the BSE Sensex was up 261.82 points, or 0.98%, to 27,001.67.

On BSE, so far 2.79 lakh shares were traded in the counter, compared with an average volume of 1.83 lakh shares in the past one quarter. The stock hit a high of Rs 26 and a low of Rs 24.95 so far during the day. The stock hit a 52-week high of Rs 28.55 on 26 May 2016. The stock hit a 52-week low of Rs 13.08 on 24 August 2015. The stock had underperformed the market over the past one month till 29 June 2016, falling 6.74% compared with Sensexs 0.27% gains. The stock had, however, outperformed the market in past one quarter, rising 41.27% as against Sensexs 5.52% rise.

The mid-cap company has an equity capital of Rs 86.39 crore. Face value per share is Rs 2.

Future Enterprises said that on 28 June 2016, company has executed shareholders agreement and share purchase agreement for sale of 14% equity shares (12.75% holding of the company and 1.25% holding of management team) of Future Supply Chain Solutions (FSCSL), a subsidiary of the company, to Griffin Partners. Post sale of 12.75% stake of FSCSL, the company will continue to be the holding company of FSCSL and will hold majority stake of 57.42% in FSCSL.

Future Enterprises had announced on 6 April 2016 that SSG Capital Management Group is investing up to Rs 580 crore to acquire 40% stake of FSCSL from the existing shareholders of the company at a valuation of up to Rs 1450 crore. This will include 14% stake to be acquired from Future Retail and the management team collectively and 26% from another minority shareholder SKC1. FSCSL was incorporated in 2007 and is promoted by Future Retail and is fully IT enabled end to end supply chain and logistic company.

Separately, Future Enterprises announced after market hours yesterday, 29 June 2016 that the Committee of Directors of the company at a meeting held on 29 June 2016, has considered, approved & allotted 750,10.25% secured redeemable non-convertible debentures (NCDs) of Rs 10 lakh each, aggregating to Rs 75 crore, on private placement basis.

Future Enterprises net profit rose 60.3% to Rs 16.53 crore on 75.3% decline in net sales to Rs 676.88 crore in Q4 March 2016 over Q4 March 2015.

Future Enterprises, formerly Future Retail, and is into retail infrastructure after demerging retail business into Bharti Retail.

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