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Sun Pharma advances after announcing positive clinical trial result for psoriasis drug
May 05,2016

The announcement was made after market hours yesterday, 4 May 2016.

Meanwhile, the BSE Sensex was up 88.22 points, or 0.35%, to 25,189.95

On BSE, so far 65,365 shares were traded in the counter, compared with an average volume of 7.78 lakh shares in the past one quarter. The stock hit high of Rs 827.40 and low of Rs 818.80 so far during the day. The stock hit a 52-week high of Rs 1,010.10 on 25 May 2015. The stock hit a 52-week low of Rs 706.40 on 24 November 2015.

The large-cap company has an equity capital of Rs 240.68 crore. Face value per share is Re 1.

Sun Pharmaceutical Industries announced that the two pivotal phase-3 clinical trials evaluating the efficacy and safety of the investigational IL-23p19 inhibitor antibody tildrakizumab (MK-3222) in patients with moderate-to-severe plaque psoriasis met their primary endpoints for both evaluated doses. The overall safety profile of tildrakizumab in both phase-3 clinical trials was consistent with the safety data observed in previously reported studies, the company said. The preparations for submission of a Biologics License Application to the US Food and Drug Administration (USFDA) are proceeding. The detailed findings from the phase-3 clinical trials will be presented at upcoming scientific meetings, it added.

Sun Pharmaceutical Industries wholly owned subsidiary, acquired worldwide rights to tildrakizumab from Merck, known as MSD outside the United States and Canada, in 2014.

Dilip Shanghvi, Managing Director, Sun Pharmaceutical Industries said that the company is encouraged by the results and the potential to provide a new treatment option to patients with moderate-to-severe plaque psoriasis, a disease that often takes both a physical and emotional toll on their lives.

Sun Pharmaceutical Industries consolidated net profit jumped 258.3% to Rs 1416.60 crore on 2.3% rise in net sales to Rs 7046.57 crore in Q3 December 2015 over Q3 December 2014.

Sun Pharmaceutical Industries is a specialty generic pharmaceutical company and Indias top pharmaceutical company.

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JSPL moves up after declaring improved Q4 earnings
May 05,2016

The result was announced after market hours yesterday, 4 May 2016.

Meanwhile, the S&P BSE Sensex was up 86 points or 0.34% at 25,187.73

On BSE, so far 1.56 lakh shares were traded in the counter as against average daily volume of 18.97 lakh shares in the past one quarter. The stock hit a high of Rs 67.60 and a low of Rs 65.45 so far during the day. The stock had hit a 52-week high of Rs 148.30 on 6 May 2015. The stock had hit a 52-week low of Rs 48.20 on 12 February 2016.

The mid-cap company has equity capital of Rs 91.49 crore. Face value per share is Re 1.

Turnover rose 7% to Rs 4874 crore in Q4 March 2016 over Q4 March 2015. Earnings Before Interest Taxes Depreciation and Amortization (EBITDA) rose 9% to Rs 896 crore in Q4 March 2016 over Q4 March 2015. EBITDA margin was reported at 18% in Q4 March 2016, same as in in Q4 March 2015.

On a consolidated basis, JSPL reported net loss of Rs 1999 crore in the year ended March 2016, higher than net loss of Rs 1455 crore in the year ended March 2015. Turnover fell 6% to Rs 18412 crore in the year ended March 2016 over the year ended March 2015. EBITDA fell 39% to Rs 3483 crore in the year ended March 2016 over the year ended March 2015. EBITDA margin was reported at 19% in the year ended March 2016, lower than 29% in in the year ended March 2015.

In its outlook, JSPL said that its endeavor for the year ending March 2017 (FY 2017) would be to fully utilize its consolidated capacities of 6.75 MTPA in steel. With Steel prices looking up in recent times on the back of rise in global steel prices and government support through minimum import price (MIP), the company is looking to improve its net sales realization (NSR) substantially during the year and generate higher EBITDA. Ramp up of Oman rebar mill and commissioning of Angul rebar mill should further help increase these realizations.

In power business, the company expects the demand to pick up, both in short term & long term markets. With the summer setting in, the demand and the exchange prices should move higher, helping the company generate higher revenues. Also, the company believes the UDAY scheme by the Government of India is a commendable scheme, which could catalyze the PPA markets in the coming year.

Supported by governments novel initiatives like Make-in-India campaign, 24X7 power, housing for all, dedicated freight corridors, smart city initiative, JSPL envisages the demand for steel and power to increase in near future and help JSPL sweat its assets to generate additional revenues and higher operating profits in FY 2017 and beyond, the company added.

JSPL is one of Indias major steel producers with a significant presence in sectors like mining, power generation and infrastructure.

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Adani Enterprises slumps on equity dilution concerns
May 04,2016

The announcement was made during market hours today, 4 May 2016.

Meanwhile, the BSE Sensex was down 157.85 points, or 0.63%, to 25,071.85.

Higher than normal volumes were witnessed on the counter. On BSE, so far 11.62 lakh shares were traded in the counter, compared with an average volume of 6.7 lakh shares in the past one quarter. The stock hit a high of Rs 86.20 and a low of Rs 78.75 in intraday trade.

Adani Enterprises said that the board of directors of the company at its meeting held today, 4 May 2016, has accorded approval for seeking approval of the shareholders to raise funds by issue of equity shares/convertible bonds through qualified institutional placement (QIP)/GDR/ADR/FCCBs/FCEBs/convertible securities for an aggregate amount upto Rs 6000 crore.

The board of directors also accorded approval to issue secured/unsecured redeemable non-convertible debentures on private placement basis within the overall borrowing limits of the company. The instruments will be issued in the period of next twelve months through private placement mode.

Adani Enterprises consolidated net profit slumped 77.37% to Rs 166.80 crore on 32.36% decline in total income to Rs 11165.06 crore in Q4 MArch 2016 over Q4 March 2015. The result was announced during market hours today, 4 May 2016.

The Gujarat High Court vide its order dated 7 May 2015 has sanctioned the composite scheme of arrangement between Adani Enterprises (AEL), Adani Ports and Special Economic Zone (APSEZL), Adani Power (APL), Adani Transmission (ATL) and Adani Mining (AMPL) and their respective shareholders and creditors. The scheme with effect from appointed date of 1 April 2015 which provided for demerger of port undertaking, power undertaking and transmission undertaking comprising the undertaking, businesses, activities, operations, assets (movable and immovable) and liabilities of AEL and transfer of the same to APSEZL, APL and ATL respectively. It also entailed merger of AMPL into AEL; In view of scheme, the results of the current period/year reported are not comparable.

Adani Enterprises is a diversified company. The company is engaged in the business of coal trading, coal mining, renewable energy among others.

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NMDC drops after reducing iron ore prices
May 04,2016

The announcement was made during market hours today, 4 May 2016.

Meanwhile, the BSE Sensex was down 101.47 points, or 0.4%, to 25,128.23

On BSE, so far 2.26 lakh shares were traded in the counter, compared with an average volume of 4.43 lakh shares in the past one quarter. The stock hit a high of Rs 98.50 and a low of Rs 94.10 so far during the day. The stock hit a 52-week high of Rs 136.55 on 6 May 2015. The stock hit a 52-week low of Rs 75.20 on 12 February 2016. The stock had underperformed the market over the past one month till 3 May 2016, falling 0.56% compared with the Sensexs 0.16% fall. The scrip, however, outperformed the market in past one quarter, gaining 25.05% as against Sensexs 4.15% gains.

The large-cap state-run iron ore miner has an equity capital of Rs 396.47 crore. Face value per share is Re 1.

NMDC has reduced the lump ore price by 4.76% to Rs 2,000 per tonne. The state-run firm also reduced prices for iron ore fines by 10.75% to Rs 1,660 per tonne.

NMDCs net profit fell 58.9% to Rs 655.04 crore on 48.5% decline in net sales to Rs 1517.04 crore in Q3 December 2015 over Q3 December 2014.

The Government of India (GoI) holds 80% stake in NMDC (as per the shareholding pattern as on 31 March 2016). NMDC is Indias single largest iron ore producer, presently producing about 30 million tonnes of iron ore from 3 fully mechanized mines.

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ITC droips after reports of SCs decision to follow stringent health warnings on cigarette packs
May 04,2016

Meanwhile, the BSE Sensex was down 83.44 points, or 0.32%, to 25,146.26.

On BSE, so far 2.13 lakh shares were traded in the counter, compared with an average volume of 6.7 lakh shares in the past one quarter. The stock hit a high of Rs 319.35 and a low of Rs 312.80 so far during the day. The stock hit a 52-week high of Rs 359.75 on 26 October 2015. The stock hit a 52-week low of Rs 268 on 29 February 2016. The stock had underperformed the market over the past one month till 3 May 2016, falling 5.68% compared with the Sensexs 0.16% fall. The scrip had also underperformed the market in past one quarter, dropping 1.42% as against Sensexs 4.15% gains.

The large-cap cigarette major has an equity capital of Rs 804.72 crore. Face value per share is Re 1.

The tobacco industry should not violate any rule prevailing as of today, the two-judge bench reportedly said, and added that the Karnataka high court should hear all pleas challenging the new rules. Last month, Indian tobacco companies shut down production in protest against requirements that 85% of a cigarette packs surface be covered in health warnings, up from 20%. The tobacco industry has taken the government to court, saying the rules are impractical and will boost smuggling of imported cigarettes. The government backs the stringent rules to cut tobacco consumption.

ITCs net profit rose 0.7% to Rs 2652.82 crore on 3.4% growth in net sales to Rs 9102.66 crore in Q3 December 2015 over Q3 December 2014.

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

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ITC drops after reports of SC directing not to violate prevailing health warning rules on cigarette packs
May 04,2016

Meanwhile, the BSE Sensex was down 83.44 points, or 0.32%, to 25,146.26.

On BSE, so far 2.13 lakh shares were traded in the counter, compared with an average volume of 6.7 lakh shares in the past one quarter. The stock hit a high of Rs 319.35 and a low of Rs 312.80 so far during the day. The stock hit a 52-week high of Rs 359.75 on 26 October 2015. The stock hit a 52-week low of Rs 268 on 29 February 2016. The stock had underperformed the market over the past one month till 3 May 2016, falling 5.68% compared with the Sensexs 0.16% fall. The scrip had also underperformed the market in past one quarter, dropping 1.42% as against Sensexs 4.15% gains.

The large-cap cigarette major has an equity capital of Rs 804.72 crore. Face value per share is Re 1.

The tobacco industry should not violate any rule prevailing as of today, the two-judge bench reportedly said, and added that the Karnataka high court should hear all pleas challenging the new rules. Last month, Indian tobacco companies shut down production in protest against requirements that 85% of a cigarette packs surface be covered in health warnings, up from 20%. The tobacco industry has taken the government to court, saying the rules are impractical and will boost smuggling of imported cigarettes. The government backs the stringent rules to cut tobacco consumption.

ITCs net profit rose 0.7% to Rs 2652.82 crore on 3.4% growth in net sales to Rs 9102.66 crore in Q3 December 2015 over Q3 December 2014.

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

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Sun Pharma gains after signing agreement with ICGEB to develop drug
May 04,2016

The announcement was made during market hours today, 4 May 2016

Meanwhile, the BSE Sensex was down 89.13 points, or 0.35%, to 25,140.57.

On BSE, so far 1.26 lakh shares were traded in the counter, compared with an average volume of 7.78 lakh shares in the past one quarter. The stock rose as much as 0.75% at the days high of Rs 804.40 so far during the day. The stock fell as much as 1.4% at the days low of Rs 787.10 so far during the day. The stock hit a 52-week high of Rs 1,010.10 on 25 May 2015. The stock hit a 52-week low of Rs 706.40 on 24 November 2015. The stock had underperformed the market over the past one month till 3 May 2016, falling 2.18% compared with the Sensexs 0.16% fall. The scrip had also underperformed the market in past one quarter, dropping 4.54% as against Sensexs 4.15% gains.

The large-cap company has an equity capital of Rs 240.68 crore. Face value per share is Re 1.

Sun Pharmaceutical said that through this agreement, Sun Pharma commits development of Cissampelos pariera (Cipa), a botanical drug in collaboration with International Centre for Genetic Engineering and Biotechnology (ICGEB). Through this agreement, Sun Pharma will follow up on earlier pre-clinical collaboration between ICGEB and erstwhile Ranbaxy Laboratories. Sun Pharma will develop Cipa, a botanical drug following a drug registration process similar to a new chemical entity, consisting of all required in-vitro, in-vivo, pre-clinical and clinical studies meeting all regulatory standards of India and other regulatory agencies worldwide.

The terms of this agreement permits Sun Pharmas access to all the intellectual properties of this drug across 17 countries. ICGEB will establish assay systems for development of Cipa for treatment of dengue infection for a pre-defined period of time. ICGEB will work exclusively with Sun Pharma for the development of this drug and clinical treatment strategies based on botanical and phyto-pharmaceuticals. Sun Pharma will pay royalties on sales post commercialisation. Other financial details of this agreement are confidential, Sun Pharma added.

The ICGEB is an international, non-profit research organization. Established as a special project of UNIDO, it became fully autonomous in 1994 and now counts over 60 member states.

Sun Pharmaceutical Industries consolidated net profit jumped 258.3% to Rs 1416.60 crore on 2.3% rise in net sales to Rs 7046.57 crore in Q3 December 2015 over Q3 December 2014.

Sun Pharma is a specialty generic pharmaceutical company and Indias top pharmaceutical company.

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Insecticides (India) recovers in volatile trade after filing an appeal with CIT
May 04,2016

The company made the announcement after market hours yesterday, 3 May 2016.

Meanwhile, the S&P BSE Sensex was down 107.90 points or 0.43% at 25,121.80

On BSE, so far 3,887 shares were traded in the counter as against average daily volume of shares in the past one quarter. The stock was volatile. The stock fell as much as 1.19% at the days high of Rs 420 so far during the day. The stock dropped as much as 4.37% at the days low of Rs 406.50 so far during the day. The stock had hit a 52-week high of Rs 605 on 2 July 2015. The stock had hit a 52-week low of Rs 297 on 17 February 2016.

The small-cap company has equity capital of Rs 20.67 crore. Face value per share is Rs 10.

Insecticides (India) said that during the financial year ended 31 March 2012 (FY 2012), the company filed an appeal before Commissioner of Income Tax (CIT), New Delhi for allowance of capital receipts. CIT had decided in favour of the company. Now, the department has preferred an appeal before Income Tax Appellate Tribunal (ITAT), New Delhi. During FY 2013, the company has received a demand notice cum assessment order under section 156 of the Income Tax, 1961 disallowing the capital receipts allowed in previous year. The company has now filed an appeal before CIT, New Delhi.

Insecticides (India)s net profit dropped 87.8% to Rs 1.02 crore on 3.8% rise in total income to Rs 154.70 crore in Q3 December 2015 over Q3 December 2014.

Insecticides (India) manufactures all types of insecticides, weedicides, fungicides and PGRs for all types of crops and household.

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Volumes jump at Godrej Consumer Products counter
May 04,2016

Godrej Consumer Products clocked volume of 3.56 lakh shares by 13:50 IST on BSE, a 19.67-times surge over two-week average daily volume of 18,000 shares. The stock fell 2.1% at Rs 1,333.05 after a bulk deal of 3.50 lakh shares was executed on the scrip at Rs 1,364.65 per share in opening bell on BSE today, 4 May 2016.

Adani Ports & Special Economic Zone notched up volume of 24.42 lakh shares, a 7.67-fold surge over two-week average daily volume of 3.18 lakh shares. The stock slumped 12.02% at Rs 207.55 on equity dilution worries after the companys board sought shareholders approval to raise funds by issue of equity shares/convertible bonds for up to Rs 10000 crore. The board has also decided to seek shareholders approval to issue secured/unsecured redeemable non-convertible debentures on private placement basis within the overall borrowing limits of the company. Adani Ports and Special Economic Zone (APSEZ)s consolidated net profit rose 38.34% to Rs 914.06 crore on 18% increase in total income to Rs 2161.65 crore in Q4 March 2016 over Q4 March 2015. EBITDA (earnings before interest, taxes, depreciation and amortization) excluding other income rose 12% to Rs 1225 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 3 May 2016.

Trent saw volume of 91,000 shares, a 7.64-fold surge over two-week average daily volume of 12,000 shares. The stock rose 0.1% at Rs 1,705.

Linde India clocked volume of 2.67 lakh shares, a 7.22-fold surge over two-week average daily volume of 37,000 shares. The stock rose 1.04% at Rs 266.

Ipca Laboratories saw volume of 3.52 lakh shares, a 4.15-fold rise over two-week average daily volume of 85,000 shares. The stock fell 0.56% at Rs 490.75.

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Metal stocks decline after weaker-than-expected Chinese economic data
May 04,2016

Vedanta (down 2.14%), National Aluminium Company (down 4.16%), Hindalco Industries (down 4.33%), Hindustan Zinc (down 1.62%), Steel Authority of India (down 4.23%), NMDC (down 0.67%), Hindustan Copper (down 0.55%) and JSW Steel (down 2.08%) declined.

Tata Steel lost 4.25% at Rs 333.65. Global metals group Liberty House Group yesterday, 3 May 2016, formally submitted a letter of intent to Tata Steel Europe containing its indicative bid for the entire issued share capital of Tata Steel UK. Liberty has put in the bid for all of Tata Steels UK assets, excluding its Long Products division, which is in the process of being sold separately, and the Scottish Plate Assets that Liberty already acquired from Tata Steel. Tata Steel has put Tata Steel, UK on the block due to the deteriorating financial performance of the UK subsidiary.

The bid is based on Libertys GREENSTEEL business model and would involve a transition from steelmaking in blast furnaces to recycling steel in electric arc furnaces over time while ensuring the company continues to meet key customers quality requirements. Steelmaking would be ultimately powered by renewable energy sources. Liberty said in a statement that it believes that the UK steel industry can achieve long-term viability if based on an agile, sustainable, non-cyclical model which integrates liquid steel making from recycling with downstream production and the manufacture of advanced engineering products.

In order to take the bid forward Liberty has appointed an internal project team and a panel of leading external advisers to work on this acquisition, dubbed Project GREENSTEEL Pluto.

Jindal Steel & Power (JSPL) fell 0.29% to Rs 68.80. The stock hit a high of Rs 71.45 and a low of Rs 67.25 so far during the day. The companys board of directors at its meeting held yesterday, 3 May 2016, approved the divestment of 1,000 megawatts (MW) power plant unit in Chhattisgarh of its power subsidiary Jindal Power (JPL) into a special purpose vehicle (SPV), for purposes of transferring the unit to JSW Energy through sale of the entire share capital and other securities of the unit in terms of the share purchase agreement for an enterprise value of Rs 6500 crore plus the value of net current assets as on the closing date. The valuation may vary based upon the achievement of power purchase agreements (PPAs) as prescribed in the agreement subject to minimum of Rs 4000 crore plus the value of net current assets as on the closing date, JSPL said in a statement. The announcement was made before market hours today, 4 May 2016.

The S&P BSE Metal index was off 2.19% to 7,758.43, underperforming the S&P BSE Sensex which was off 0.05% at 25,217.11.

High Grade Copper for July 2016 delivery was currently up 0.07% at $2.2205 per pound on the COMEX.

On the global economic front, the Caixin China general manufacturing purchasing managers index fell to 49.4 in April 2016 from 49.7 in March 2016. A reading below 50 indicates economic contraction. The data was released during trading hours in Asia yesterday, 3 May 2016. Chinas official manufacturing PMI, a competing gauge, came in at 50.1 in April 2016 compared with 50.2 in March 2016, according to data released by the National Bureau of Statistics on 1 May 2016. The Chinese economy is the worlds second biggest economy after the United States.

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Yes Bank skids after reducing lending rates
May 04,2016

The announcement was made after trading hours yesterday, 3 May 2016.

Meanwhile, the S&P BSE Sensex was down 50.91 points or 0.2% at 25,188.

On BSE, so far 1.22 lakh shares were traded in the counter as against average daily volume of 3.83 lakh shares in the past one quarter. The stock hit a high of Rs 939 and a low of Rs 922.75 so far during the day. The stock had hit a record high of Rs 958 on 2 May 2016. The stock had hit a 52-week low of Rs 590 on 24 August 2015. The stock had outperformed the market over the past one month till 3 May 2016, gaining 8.92% compared with the Sensexs 0.16% fall. The scrip had also outperformed the market in past one quarter, rising 19.73% as against Sensexs 4.15% gains.

The large-cap private sector bank has equity capital of Rs 420.82 crore. Face value per share is Rs 10.

Yes Bank said that its marginal cost of funds based lending rate (MCLR) for one-year loans now stands at 9.5%, reduced from earlier 9.6%.

All rupee loans sanctioned and credit limits renewed with effect from 1 April 2016 are priced with reference to MCLR, which is the internal benchmark of the concerned bank. Actual lending rates are determined by adding the components of spread to the MCLR.

Yes Banks net profit rose 27.4% to Rs 702.11 crore on 17.7% rise in total income to Rs 4331.11 crore in Q4 March 2016 over Q4 March 2015.

Yes Bank is a private sector bank with a pan India presence.

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Speciality Restaurants falls after temporary suspension of a restaurant in Bengaluru
May 04,2016

The announcement was made after market hours yesterday, 3 May 2016.

Meanwhile, the S&P BSE Sensex was down 41.79 points or 0.17% at 25,186.39

On BSE, so far 2,873 shares were traded in the counter as against average daily volume of 2,812 shares in the past one quarter. The stock hit a high of Rs 92.60 and a low of Rs 90.60 so far during the day. The stock had hit a 52-week high of Rs 187.10 on 4 May 2015. The stock had hit a 52-week low of Rs 80.05 on 14 March 2016. The stock had outperformed the market over the past one month till 3 May 2016, rising 8.98% compared with the Sensexs 0.16% fall. The scrip, however, underperformed the market in past one quarter, declining 6.7% as against Sensexs 4.15% gains.

The small-cap company has an equity capital of Rs 46.96 crore. Face value per share is Rs 10.

Speciality Restaurants did not mention the reason for the temporary suspension of operations of the restaurant and the expected timeline for resumption of operations.

Speciality Restaurants net profit fell 68.9% to Rs 1 crore on 5.2% growth in net sales to Rs 83.26 crore in Q3 December 2015 over Q3 December 2014.

Speciality Restaurants is the owner of restaurant brands like Mainland China, Flame & Grill, Machaan, Oh! Calcutta, Sigree and Haka.

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Alstom T&D India drops after posting weak Q4 results
May 04,2016

The result was announced after market hours yesterday, 3 May 2016.

Meanwhile, the S&P BSE Sensex was down 38.78 points or 0.15% at 25,190.92.

On BSE, so far 21,801 shares were traded in the counter as against average daily volume of 11,769 shares in the past one quarter. The stock hit a low of Rs 357 and a high of Rs 369.90 so far during the day. The stock had hit a 52-week low of Rs 349 on 29 February 2016. The stock had hit a 52-week high of Rs 607.05 on 9 July 2015. The stock had underperformed the market over the past one month till 3 May 2016, falling 13.95% compared with the Sensexs 0.16% fall. The scrip had also underperformed the market in past one quarter, dropping 14.14% as against Sensexs 4.15% gains.

The mid-cap company has equity capital of Rs 51.21 crore. Face value per share is Rs 2.

Alstom T&D Indias net profit fell 35.71% to Rs 77.51 crore on 7.3% decrease in total income to Rs 3450.31 crore in the year ended March 2016 over the year ended March 2015.

Alstom T & D Indias board of directors recommended dividend of Rs 1.80 per share for the year ended 31 March 2016.

Alstom T&D India is a leading player in the power transmission business. It has a predominant presence in all stages of the power supply chain.

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Tata Motors drops after announcing revised April monthly sales volume data
May 04,2016

Meanwhile, the S&P BSE Sensex was down 66.71 points or 0.26% at 25,162.99

On BSE, so far 4.34 lakh shares were traded in the counter as against average daily volume of 7.76 lakh shares in the past one quarter. The stock hit a high of Rs 406.75 and a low of Rs 388 so far during the day. The stock had hit a 52-week high of Rs 530.95 on 11 May 2015. The stock had hit a 52-week low of Rs 266 on 11 February 2016. The stock had underperformed the market over the past one month till 3 May 2016, rising 7.89% compared with the Sensexs 0.16% fall. The scrip also outperformed the market in past one quarter, surging 27.77% as against Sensexs 4.15% gains.

The large-cap company has equity capital of Rs 577.44 crore. Face value per share is Rs 2.

Tata Motors announced that its total sales of commercial and passenger vehicles rose 8.9% to 39,418 units in April 2016 over April 2015. Domestic sales of Tata commercial and passenger vehicles rose 10% to 35,633 units in April 2016 over April 2015. Sales from exports were flat at 3,785 units in April 2016 compared with corresponding previous year. The company announced the revised monthly sales volume data after market hours yesterday, 3 May 2016.

Shares of Tata Motors had settled with gain of 0.54% to Rs 409.50 yesterday, 3 May 2016 after the company announced that its total commercial and passenger vehicles sales rose 9.9% to 39,763 units in April 2016 over April 2015. The company announced the monthly sales volume data after market hours on Monday, 2 May 2016. Domestic sales of Tata commercial and passenger vehicles rose 11% to 35,978 units in April 2016 over April 2015, as per the companys announcement on 2 May 2016. Sales from exports were flat at 3,785 units in April 2016 compared with corresponding previous year.

On consolidated basis, Tata Motors net profit fell 2% to Rs 3507.54 crore on 3.7% growth in net sales to Rs 71686.12 crore in Q3 December 2015 over Q3 December 2014.

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

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MEP Infrastructure gains after winning toll collection rights from NHAI
May 04,2016

The announcement was made after market hours yesterday, 3 May 2016.

Meanwhile, the BSE Sensex was down 102.17 points, or 0.4%, to 25,127.53.

On BSE, so far 32,769 shares were traded in the counter, compared with an average volume of 79,316 shares in the past one quarter. The stock hit a high of Rs 43.65 and a low of Rs 41.65 so far during the day. The stock hit a record high of Rs 67 on 17 July 2015. The stock hit a record low of Rs 34.20 on 12 February 2016. The stock had outperformed the market over the past one month till 3 May 2016, rising 6.18% compared with the Sensexs 0.16% fall. The scrip had, however, underperformed the market in past one quarter, dropping 2.02% as against Sensexs 4.15% gains.

The small-cap company has an equity capital of Rs 162.57 crore. Face value per share is Rs 10.

MEP Infrastructure Developers said that it has received the letter of acceptance (LOA) dated yesterday, 3 May 2016 from National Highways Authority of India (NHAI) informing that it has been engaged as the contractor for the project of collection of user fee through fee collection agency on the basis of competitive bidding for Paduna toll plaza at Udaipur- Kherwada section of NH No. 8 in Rajasthan. The period of the contract is one year. The operations will commence within 2 days after complying the statutory formalities namely, submission of performance security, signing of contract as per the LOA. The contractual amount for the project is Rs 128.07 crore payable to NHAI on a weekly basis over a period of one year.

On a consolidated basis, MEP Infrastructure Developers reported net profit Rs 5.28 crore in Q3 December 2015 as against net loss of Rs 35 in Q3 December 2014. Net sales declined 6% to Rs 497.28 crore in Q3 December 2015 over Q3 December 2014.

MEP Infrastructure Developers is among the leading players in tolling operations in the road infrastructure sector. The companys focus is on pure toll collection projects as well as OMT (Operation, Maintenance and Toll) collection projects, which involve maintenance obligations in addition to toll collection on operational roads including highways constructed by third parties.

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