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Axis Bank gains after bulk deal
Sep 21,2016

Meanwhile, the S&P BSE Sensex was up 44.52 points or 0.16% at 28,567.32

Bulk deal boosted volume on the scrip. On BSE, so far 26.71 lakh shares were traded in the counter as against average daily volume of 6.91 lakh shares in the past one quarter. The stock hit a high of Rs 600 and a low of Rs 594.80 so far during the day. The stock had hit a 52-week high of Rs 638 on 7 September 2016. The stock had hit a 52-week low of Rs 366.65 on 18 January 2016. The stock had outperformed the market over the past 30 days till 20 September 2016, rising 2.21% compared with 1.92% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 14.92% as against Sensexs 6.57% rise.

The large-cap private sector bank has equity capital of Rs 477.89 crore. Face value per share is Rs 2.

Axis Banks net profit fell 21.38% to Rs 1555.53 crore on 13.22% growth in total income to Rs 13852.18 crore in Q1 June 2016 over Q1 June 2015.

Axis Bank is one of the biggest private sector banks in India.

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Volumes jump at KSB Pumps counter
Sep 21,2016

KSB Pumps clocked volume of 1.61 lakh shares by 13:20 IST on BSE, a 173.62-times surge over two-week average daily volume of 1,000 shares. The stock was up 0.01% at Rs 616.60.

Gokaldas Exports notched up volume of 11.18 lakh shares, a 10.12-fold surge over two-week average daily volume of 1.11 lakh shares. The stock surged 16.55% at Rs 83.80.

Welspun Enterprises saw volume of 13.14 lakh shares, a 9.82-fold surge over two-week average daily volume of 1.34 lakh shares. The stock jumped 7.52% at Rs 67.90.

Prabhat Dairy clocked volume of 6.14 lakh shares, a 9.47-fold surge over two-week average daily volume of 65,000 shares. The stock was locked at 20% upper circuit at Rs 118.20.

Vivimed Labs saw volume of 5.76 lakh shares, a 8.04-fold rise over two-week average daily volume of 72,000 shares. The stock surged 10.01% at Rs 87.90.

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Inox Leisure inches up as RBI allows hike in foreign investment limit
Sep 21,2016

Meanwhile, the S&P BSE Sensex was up 131.14 points or 0.46% at 28,654.34

On BSE, so far 46,000 shares were traded in the counter as against average daily volume of 50,416 shares in the past one quarter. The stock hit a high of Rs 278.90 and a low of Rs 270.55 so far during the day. The stock had hit a record high of Rs 292.90 on 2 September 2016. The stock had hit a 52-week low of Rs 170 on 12 February 2016. The stock had underperformed the market over the past 30 days till 20 September 2016, rising 0.43% compared with 1.92% rise in the Sensex. The scrip, however, outperformed the market in past one quarter, gaining 18.95% as against Sensexs 6.57% rise.

The small-cap company has equity capital of Rs 96.46 crore. Face value per share is Rs 10.

The Reserve Bank of India (RBI) yesterday, 20 September 2016 notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) from default can now invest from existing 24% up to 49% of the paid up capital of Inox Leisure under the Portfolio Investment Scheme (PIS). The Reserve Bank of India (RBI) has stated that the company has passed resolution at its board of directors level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares by FIIs/RFPIs. The purchases could be made through primary market and stock exchanges, RBI said. Foreign institutional investors holding in Inox Leisure stood at 22.47% (as at end 30 June 2016).

On consolidated basis, Inox Leisures net profit fell 1.27% to Rs 24.96 crore on 11.65% growth in total income to Rs 339.36 crore in Q1 June 2016 over Q1 June 2015.

Inox Leisure is the diversification venture of the Inox group into entertainment. The company currently operates 109 multiplexes and 429 screens in 57 cities making it a truly pan-Indian multiplex chain.

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GAIL (India) gains after starting operations of first polyethylene process line
Sep 21,2016

The announcement was made during market hours today, 21 September 2016.

Meanwhile, the S&P BSE Sensex was up 131.27 points or 0.46% at 28,654.47.

On BSE, so far 70,656 shares were traded in the counter as against average daily volume of 1.51 lakh shares in the past one quarter. The stock hit a high of Rs 392.30 and a low of Rs 386.30 so far during the day. The stock had hit a 52-week high of Rs 407.80 on 7 September 2016. The stock had hit a 52-week low of Rs 276.45 on 10 November 2015. The stock had outperformed the market over the past one month till 20 September 2016, gaining 5.97% compared with 1.59% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 0.08% as against Sensexs 6.16% rise.

The large-cap company has equity capital of Rs 1268.48 crore. Face value per share is Rs 10.

GAIL (India) said that UNIPOL polyethylene (PE) process line has the capacity to produce 4 lakh tons of PE per year. The total production capacity of GAILs petrochemical plant at Pata, Uttar Pradesh is now 8.1 lakh tonnes per annum. GAILs flexible high-density polyethylene (HDPE)/linear low-density polyethylene (LLDPE) swing plant provides access to a full range of resin applications which will allow GAIL and its customers to capture new market opportunities as PE market demands are changing.

The new process line gives GAIL the platform to expand its PE product capabilities, providing Indian PE converters with the high quality, domestically produced resin products needed for both large-volume markets as well as advanced performance applications.

GAIL (India)s net profit jumped 244% to Rs 1335.18 crore on 14.6% decline in net sales to Rs 10686.58 crore in Q1 June 2016 over Q1 June 2015.

State-run GAIL (India) is Indias largest natural gas company with a market share of over 80% in natural gas transmission. Apart from natural gas transmission, distribution and processing, GAIL has diversified business interests in LPG transmission, petrochemicals, city gas projects and exploration and production activities. Government of India (GoI) holds 56.11% stake in GAIL (as per shareholding pattern as on 30 June 2016).

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Essel Propack scales record high after announcing acquisition of Germany firm
Sep 21,2016

The announcement was made before market hours today, 21 September 2016.

Meanwhile, the S&P BSE Sensex was up 148.62 points or 0.52% at 28,671.82

On BSE, so far 61,000 shares were traded in the counter as against average daily volume of 9,268 shares in the past one quarter. The stock hit a high of Rs 245.20 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 232.50 so far during the day. The stock had hit a 52-week low of Rs 132.50 on 20 January 2016. The stock had outperformed the market over the past 30 days till 20 September 2016, rising 2.77% compared with 1.92% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 15.12% as against Sensexs 6.57% rise.

The mid-cap company has equity capital of Rs 31.42 crore. Face value per share is Rs 2.

Essel Propack today, 21 September 2016 announced a complete buyout of Essel Deutschland Germany (EDG). Following this transaction, EDG will be a 100% subsidiary of Essel Propack. Until now, Essel Propack has been a joint venture (JV) partner with 24.9% share in EDG. The enterprise value of EDG stands at $32 million.

The acquisition will help the company unlock synergies such as enhanced cross selling opportunity in the German markets, sourcing flexibility and better capacity utilization at all of its Europe plants, Essel Propack said. The company now can deploy its proven capability to offer high decoration laminated tube solutions for the premium non oral care brands across Europe, including Germany, it said. Essel Propack will also have the benefit of a long term supply agreement which EDG has recently signed with a local oral care company, it added.

The EDG revenue of approximately $40 million will now be consolidated in Essels global revenue and will boost consolidated revenue by 11%. In the year ended 31 March 2016 (FY 2016), Essel Propacks consolidated revenue stood at Rs 2184 crore.

Ram Ramasamy, Global COO, Essel Propack, said that the complete buyout will enable the company to step up productivity and efficiency to those of other Essel Propack plants and improve overall profits.

Essel Propacks consolidated net profit rose 6.03% to Rs 37.62 crore on 6.31% fall in net sales to Rs 517.64 crore in Q1 June 2016 over Q1 June 2015.

Essel Propack is the largest specialty packaging global company, manufacturing laminated plastic tubes catering to the FMCG and Pharma space.

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Shriram EPC gains after bagging order
Sep 21,2016

The announcement was made during market hours today, 21 September 2016.

Meanwhile, the BSE Sensex was up 148.91 points, or 0.52%, to 28,672.11.

Higher than normal volumes were witnessed on the counter. On BSE, so far 2.12 lakh shares were traded in the counter, compared with an average volume of 42,546 shares in the past one quarter. The stock hit a high of Rs 27.80 and a low of Rs 23 so far during the day. The stock hit a 52-week high of Rs 38.55 on 6 January 2016. 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 20 September 2016, gaining 7.16% compared with 1.59% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 2.43% as against Sensexs 6.16% 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 it received the order from Chennai Metropolitan Water Supply and Sewerage Board (CMWSSB) Chennai for providing comprehensive water supply scheme to Pallikaranai and Mugalivakkam areas in Chennai city. The project is to be executed over a period of 24 months.

Shriram EPC reported net loss of Rs 41.84 crore in Q1 June 2016, higher than net loss of Rs 2.79 crore in Q1 June 2015. Net sales declined 37.6% to Rs 94.45 crore in Q1 June 2016 over Q1 June 2015.

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

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IRB Infrastructure gains after bagging road project
Sep 21,2016

The announcement was made after market hours yesterday, 20 September 2016.

Meanwhile, the BSE Sensex was up 148.22 points, or 0.52%, to 28,669.08.

On BSE, so far 2.9 lakh shares were traded in the counter, compared with average daily volume of 2.64 lakh shares in the past one quarter. The stock hit a high of Rs 255.55 and a low of Rs 250.55 so far during the day. The stock hit a 52-week high of Rs 272.20 on 20 October 2015. The stock hit a 52-week low of Rs 197 on 24 June 2016. The stock had outperformed the market over the past one month till 20 September 2016, gaining 7.93% compared with 1.59% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 17.09% as against Sensexs 6.16% rise.

The mid-cap company has equity capital of Rs 351.45 crore. Face value per share is Rs 10.

IRB Infrastructure Developers (IRB) said that it has emerged as a preferred bidder for the project of six laning from Kishangarhn++Udaipurn++Ahmedabad section of around 125 kilometres in Rajasthan. The project is on design-build-finance-operate-transfer (DBFOT) (toll) pattern basis under National Highways Development Project (NHDP)s Phase V (package-V). The concession period of the project is 20 years including construction period of 910 days. The company will get tolling rights on project from the appointed date. The company has offered premium of Rs 228.60 crore to National Highways Authority of India (NHAI) in terms of the concession agreement. Upon award of this project, IRBs construction order book will stand to increase to approximately Rs 11300 crore, to be executed in the next four years. This will boost the companys construction orderbook visibility for next three to four years.

On a consolidated basis, net profit of IRB Infrastructure Developers rose 10.4% to Rs 181.84 crore on 36.8% rise in net sales to Rs 1517.33 crore in Q1 June 2016 over Q1 June 2015.

IRB Infrastructure Developers is an integrated infrastructure development and construction company with significant experience in toll roads and highways sector. The company is one of the largest private developers in India.

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TeamLease Services surges after signing agreement to acquire Nichepro
Sep 21,2016

The announcement was made after market hours yesterday, 20 September 2016.

Meanwhile, the S&P BSE Sensex was up 85.97 points, or 0.3%, to 28,609.17

On BSE, so far 2,158 shares were traded in the counter, compared with average daily volume of 3,687 shares in the past one quarter. The stock hit a high of Rs 1,156 and a low of Rs 1,123.85 so far during the day. The stock hit a record high of Rs 1,207.70 on 16 February 2016. The stock hit a record low of Rs 790 on 28 April 2016. The stock had outperformed the market over the past 30 days till 20 September 2016, rising 3.06% compared with 1.92% rise in the Sensex. The scrip also outperformed the market in past one quarter, rising 19.45% as against Sensexs 6.57% rise.

The small-cap company has an equity capital of Rs 17.10 crore. Face value per share is Rs 10.

TeamLease Services yesterday, 20 September 2016, announced the signing of a definitive agreement to acquire Nichepro Technologies (Nichepro). TeamLease Services will acquire Nichepro for an enterprise value of Rs 29.5 crores through its wholly owned subsidiary, TeamLease Staffing Services. The transaction, which will be immediately accretive to the companys earnings per share, will be financed with existing financial resources and is expected to close before the end of October 2016, TeamLease Services said. The transaction remains subject to customary closing conditions and regulatory approvals, the company said.

Bangalore headquartered Nichepro offers IT staffing solutions to various IT product companies with over 150 associates and 30 core employees as of date. Nichepro is a Tier 1 staffing provider to reputed multinational corporations and niche product companies. Nichepro realized revenue of approximately Rs 26 crore from staffing services with an earnings before interest, taxation, depreciation and amortization (EBITDA) of approximately Rs 6.8 crore in the year ended 31 March 2016 (FY2016).

Ashok Kumar Nedurumalli, Managing Director & Co-Founder, TeamLease Services said this acquisition strengthens the companys IT staffing vertical.

Team Lease Services consoldiated net profit rose 48.39% to Rs 7.36 crore on 20.71% rise in net sales to Rs 675.16 crore in Q1 June 2016 over Q1 June 2015.

TeamLease Services provides human resource services. Its services span the entire people supply chain of human resources, covering employment, employability and education. Its employment services include staffing solutions, recruitment services and compliance services. The companys employability offerings include different types of learning and training solutions for retail, institutional and enterprise customers.

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M&M gains after incorporating subsidiary company in Brazil
Sep 21,2016

The announcement was made before market hours today, 21 September 2016.

Meanwhile, the BSE Sensex was up 82.51 points, or 0.29%, to 28,605.71.

On BSE, so far 5,757 shares were traded in the counter, compared with average daily volume of 75,233 shares in the past one quarter. The stock hit a high of Rs 1,415 and a low of Rs 1,403.30 so far during the day. The stock hit a record high of Rs 1,508.80 on 9 August 2016. The stock hit a 52-week low of Rs 1,092 on 12 February 2016. The stock had underperformed the market over the past one month till 20 September 2016, sliding 3.03% compared with 1.59% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 4.36% as against Sensexs 6.16% rise.

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

Mahindra & Mahindra (M&M) said that it has incorporated a subsidiary company in Brazil namely CMN Solutions Q013 Participacoes Ltda. M&M along with its wholly owned subsidiary Mahindra Overseas Investment Company (Mauritius) (MOICML) have executed a quota agreement and transfer engagement for acquiring 100 shares aggregating 100% of the capital stock of CMN Solutions which will enable this new company to acquire assets of a tractor distributor in Brazil namely Bramont Montadora Industrial e Commercial de Veiculos S.A. (Bramont). The acquired company is a shell company engaged in tractor distribution and has no operations till date. The cost of acquisition would not exceed $8.02 million out of which M&M would pay a consideration not exceeding $8 million for its stake in the target. The consideration for acquisition in cash would be paid upon receipt of approval from the Reserve Bank of India (RBI). The indicative time period for completion of the acquisition is October 2016.

M&Ms net profit rose 12.4% to Rs 955.21 crore on 12.3% growth in net sales to Rs 10898.08 crore in Q1 June 2016 over Q1 June 2015.

M&M enjoys a leadership position in tractors and utility vehicles in India.

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Wipro gains after entering into global partnership with Witbe
Sep 21,2016

The announcement was made after market hours yesterday, 20 September 2016.

Meanwhile, the BSE Sensex was up 38.03 points or 0.13% at 28,561.23.

On BSE, so far 4,904 shares were traded in the counter, compared with average daily volume of 3.84 lakh shares in the past one quarter. The stock hit a high of Rs 484.50 and a low of Rs 480.55 so far during the day. The stock hit a 52-week high of Rs 613 on 1 October 2015. The stock hit a 52-week low of Rs 470.25 on 8 September 2016. The stock had underperformed the market over the past one month till 20 September 2016, sliding 7.76% compared with 1.59% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 13.78% as against Sensexs 6.16% rise.

The large-cap company has equity capital of Rs 486.16 crore. Face value per share is Rs 2.

Wipro and Witbe, a leading innovator in the field of test automation and services quality of experience (QoE) monitoring robots for broadband, voice and TV triple-play monitoring have entered into a global partnership. The partnership is of strategic importance to Wipro, and will offer integrated test automation and video services monitoring solutions for customer deployments across set top box, mobile platforms and other handheld devices. These solutions will benefit new and existing customers of Wipro and Witbe including semiconductor players, original equipment manufacturers (OEMs), original design manufacturers (ODMs) and service providers in the media industry.

Witbes expertise in test and monitoring technologies coupled with Wipros extensive experience in engineering and R&D services will provide an integrated one-stop solution for unified test automation, services monitoring and automation deployment to customers.

In a separate announcement after market hours yesterday, 20 September 2016, Wipro said that it has joined Oracles newly announced Oracle Cloud Managed Service Provider (MSP) Program. Wipro is a Diamond level member of Oracle PartnerNetwork (OPN) and has an OPN Cloud Select designation. The Wipro Boundaryless Data Center (BLDC) offering is based on an innovative IT transformational approach that enables enterprise ITaaS (IT as a Service) through a universal marketplace. BLDC is integrated with Oracle IaaS (Infrastructure as a Service) and PaaS (Platform as a Service) services, and provides a unified platform to drive hybrid IT journey for enterprises by enabling dynamic sourcing, automated provisioning, monitoring and management. In collaboration with Oracle, Wipro will build standard reference architectures, workload blueprints and continuous deployment solutions for accelerated cloud transformation.

Available to partners who have demonstrated the skills and infrastructure to build, deploy, run and manage both Oracle and non-Oracle workloads, the Oracle Cloud Managed Service Provider (MSP) Program, enables OPN members to offer a complete managed service solution for workloads running on Oracle Platform as a Service and Infrastructure as a Service. Based on the unique needs of their customers, Wipro can now have the ability to provide a complete, integrated cloud solution, leveraging its Boundaryless Data Center (BLDC) and Oracles world-class cloud platform.

On consolidated basis, Wipros net profit fell 8.32% to Rs 2051.90 crore on 0.32% decline in net sales to Rs 13697.60 crore in Q1 June 2016 over Q4 March 2016.

Wipro is a leading information technology, consulting and business process services company that delivers solutions to enable its clients do business better.

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Vardhman Textiles scales record high as board to consider share buyback
Sep 21,2016

The announcement was made after market hours yesterday, 20 September 2016.

Meanwhile, the S&P BSE Sensex was up 34.17 points, or 0.12%, to 28,557.37

On BSE, so far 36,000 shares were traded in the counter, compared with an average daily volume of 12,559 shares in the past one quarter. The stock hit a high of Rs 1,116.75 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 1,022 so far during the day. The stock hit a 52-week low of Rs 651.50 on 20 January 2016. The stock had underperformed the market over the past 30 days till 20 September 2016, falling 2.69% compared with 1.92% rise in the Sensex. The scrip also underperformed the market in past one quarter, rising 5.44% as against Sensexs 6.57% rise.

The mid-cap company has an equity capital of Rs 63.65 crore. Face value per share is Rs 10.

Vardhman Textiles consolidated net profit rose 24.16% to Rs 178.27 crore on 0.97% rise in net sales to Rs 1474.17 crore in Q1 June 2016 over Q1 June 2015.

Vardhman Group is a leading textile conglomerate in India. The group business portfolio includes yarn, greige and processed fabric, sewing thread, acrylic fibre and alloy steel.

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NBCC (India) advances after new order win
Sep 21,2016

The announcement was made after market hours yesterday, 20 September 2016.

Meanwhile, the S&P BSE Sensex was up 34.50 points or 0.12% at 28,557.70

On BSE, so far 31,000 shares were traded in the counter as against average daily volume of 2.44 lakh shares in the past one quarter. The stock hit a high of Rs 259.90 and a low of Rs 257.25 so far during the day. The stock had hit a record high of Rs 267 on 13 July 2016. The stock had hit a 52-week low of Rs 162 on 12 February 2016.

The large-cap company has equity capital of Rs 120 crore. Face value per share is Rs 2.

NBCC (India) secured a contract worth approximately Rs 440 crore from ESIC, Ministry of Labour & Employment, Government of India for construction of 100 bedded hospital(s) at Haridwar and Dehradun (Uttarakhand) and 300 bedded hospital at Indore, Madhya Pradesh.

Shares of NBCC (India) rose 0.16% to settle at Rs 252.15 yesterday, 20 September 2016 after the company was nominated as the Land Management Agency for disposal of land assets of the sick central public sector enterprises (CPSEs). NBCC (India) as LMA, will manage, maintain and protect the land assets of sick CPSEs and shall be paid fee for the same till it is disposed off. NBCC (India) will be paid 0.5% of the value realized from disposal of land, subject to maximum of Rs 1 crore in each case. The announcement was made after market hours on 19 September 2016.

NBCC (India)s consolidated net profit rose 16.4% to Rs 47.10 crore on 15.1% rise in net sales to Rs 1254.31 crore in Q1 June 2016 over Q1 June 2015.

NBCC (India) is a blue-chip Government of India (GoI) Navratna Enterprise under the Ministry of Urban Development, in construction sector. The GoI held 90% stake in the firm (as per shareholding pattern as on 30 June 2016).

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Den Networks gains as board approves preferential issue of shares
Sep 20,2016

The announcement was made during market hours today, 20 September 2016.

Meanwhile, the S&P BSE Sensex was down 117.52 points or 0.41% at 28,516.98

On BSE, so far 2.19 lakh shares were traded in the counter as against average daily volume of 22,953 shares in the past one quarter. The stock hit a high of Rs 85 and a low of Rs 78.10 so far during the day. The stock had hit a 52-week high of Rs 133 on 21 September 2015. The stock had hit a 52-week low of Rs 60.50 on 15 February 2016. The stock had underperformed the market over the past 30 days till 19 September 2016, falling 8.42% compared with Sensexs 1.99% rise. The scrip also underperformed the market in past one quarter, sliding 13.38% as against Sensexs 6.79% rise.

The small-cap company has equity capital of Rs 178.20 crore. Face value per share is Rs 10.

Den Networks said that the companys board of directors has issue and allotment of 1.58 crore shares on preferential basis to affiliates of the Goldman Sachs Group, Inc. who form part of the persons belonging to the non-promoter category. The companys board also approved the issue price of Rs 90 per share for the preferential allotment. With this allotment, the holding of affiliates of Goldman Sachs Group, Inc. will increase to about 24.49% from 17.79% earlier, Den Networks said. The total consideration for the transaction is Rs 142.43 crore, the company added.

Den Networks reported net loss of Rs 57.31 crore in Q1 June 2016, higher thab net loss of Rs 50.75 crore in Q1 June 2015. Net sales rose 24% to Rs 236.97 crore in Q1 June 2016 over Q1 June 2015.

Den Networks is one of leading cable TV distribution companies in India.

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Kolte Patil Developers jumps after completing project in Pune
Sep 20,2016

The announcement was made during market hours today, 20 September 2016.

Meanwhile, the BSE Sensex was down 100.76 points, or 0.35%, to 28,533.74.

More than usual volumes were traded on the counter. On BSE, so far 1.49 lakh shares were traded in the counter, compared with an average volume of 19,467 shares in the past one quarter. The stock hit a high of Rs 134.25 and a low of Rs 120.05 so far during the day.

Kolte Patil Developers announced that it has completed its Margosa Heights project in Pune generating an internal rate of return (IRR) of 36% and a money multiple of 3.1 times for itself and its joint venture partner, Portman Holdings, USA. The project is part of a special purpose vehicle (SPV) called Bellflower properties, which is a 50% joint venture of Kolte with Portman. This investment was the first residential investment for the Atlanta based full service real estate company which has a significant presence in India.

Margosa Heights includes 20 mid-rise apartment towers along with support retail located at Mohammadwadi, a suburb in south Pune. The developments total area is -1 million square feet. This project sets a unique example of an Indian & an International developer/Investor working in partnership on various aspects of the project to deliver a good product & achieve high profitability.

Kolte-Patil Developers is Punes largest developer and has completed 1 crore sq. ft. of landmark developments in Pune and Bengaluru. It is also present in Mumbai with some upscale redevelopment projects. The company has till date built projects in multiple segments such as residential, commercial, retail, IT parks, and integrated townships.

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Castrol India jumps after promoter pares stake
Sep 20,2016

Meanwhile, the S&P BSE Sensex was down 104.81 points, or 0.37%, to 28,529.69

Bulk deal boosted volume on the scrip. On BSE, so far 5.86 crore shares were traded in the counter as against average daily volume of 1.88 lakh shares in the past one quarter. The stock hit a high of Rs 469.75 and a low of Rs 426.10 so far during the day. The stock hit a 52-week high of Rs 478.40 on 9 September 2016. The stock hit a 52-week low of Rs 360.10 on 1 March 2016. The stock had outperformed the market over the past 30 days till 19 September 2016, rising 3.99% compared with Sensexs 1.99% rise. The scrip also outperformed the market in past one quarter, gaining 12.19% as against Sensexs 6.79% rise.

The large-cap company has an equity capital of Rs 247.28 crore. Face value per share is Rs 5.

Castrol India said that the companys promoter, Castrol, sold 4.21 crore shares or 8.53% stake in Castrol India in a bulk deal on BSE today, 20 September 2016. The announcement was made during trading hours today, 20 September 2016.

After the sale of shares, Castrols stake in Castrol India has reduced to 50.89%.

Castrol Indias net profit rose 12.14% to Rs 206.90 crore on 5.18% growth in net sales to Rs 967.90 crore in Q2 June 2016 over Q2 June 2015.

Castrol India manufactures and markets a range of automotive and industrial lubricants.

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