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ICICI Bank extends intraday slide after weak Q4 results
Apr 29,2016

The result was announced during market hours today, 29 April 2016.

Meanwhile, the S&P BSE Sensex was down 113.56 points or 0.44% at 25,489.54.

Heavy volumes were witnessed on the counter. On BSE, so far 44.33 lakh shares were traded in the counter as against average daily volume of 18.82 lakh shares in the past one quarter. The stock was volatile. The stock lost as much as 3.64% at the days low of Rs 231.40 so far during the day. The stock rose as much as 1.6% at the days high of Rs 244 so far during the day. The stock had hit a 52-week low of Rs 180.80 on 26 February 2016. The stock had hit a 52-week high of Rs 337.35 on 6 May 2015. The stock had outperformed the market over the past one month till 28 April 2016, gaining 6.61% compared with Sensexs 2.55% rise. The scrip had, however, underperformed the market in past one quarter, advancing 3.09% as against Sensexs 4.63% rise.

The large-cap private sector bank has equity capital of Rs 1163.03 crore. Face value per share is Rs 2.

ICICI Banks net interest income rose 6% to Rs 5404 crore in Q4 March 2016 over Q4 March 2015.

The banks gross non-performing advances (net of write-off) stood at Rs 26221.25 crore as on 31 March 2016 compared with Rs 21149.19 crore as on 31 December 2015 and Rs 15094.69 crore as on 31 March 2015. The ratio of gross non-performing advances to gross advances stood at 5.82% as on 31 March 2016 compared with 4.72% as on 31 December 2015 and 3.78% as on 31 March 2015. The ratio of net non-performing advances to net advances stood at 2.98% as on 31 March 2016 as against 2.28% as on 31 December 2015 and 1.61% as on 31 March 2015.

ICICI Bank has created a collective contingency and related reserve of Rs 3600 crore in Q4 March 2016 over and above provisions made for non-performing and restructured loans. This contingency provision is towards exposure to certain stressed assets in certain sectors, including iron and steel, mining, power, rigs and cement. The weak global economic environment, the sharp downturn in the commodity cycle and the gradual nature of the domestic economic recovery has adversely impacted the borrowers in these sectors. Given the weak operating and recovery environment, it may take some time for resolution of stress on borrowers in these sectors, ICICI Bank said.

The banks provisions excluding collective contingency and related reserve jumped 147.28% to Rs 3326 crore in Q4 March 2016 over Q4 March 2015.

ICICI Bank said that the increase in non-performing assets was primarily due to the continuing challenges in the operating and recovery environment and the Reserve Bank of Indias (RBI) objective of early recognition of stress and provisioning for the banking sector. The RBI has directed Indias banks to review certain loan accounts and their classification over a period of two quarters starting from Q3 December 2015. ICICI Bank said that it has now completed the exercise of review of classification of cases highlighted by RBI.

The banks provisioning coverage ratio, including cumulative prudential/technical write-offs was 61% as at 31 March 2016. The provisioning coverage ratio, excluding cumulative prudential/technical write-offs was 50.6%.

The banks current and savings account (CASA) deposits rose 17% in Q4 March 2016 over Q4 March 2015. CASA ratio improved to 45.8% as on 31 March 2016, from 45.2% as on 31 December 2015 and 45.5% as on 31 March 2015.

ICICI Banks board of directors at its meeting held today, 29 April 2016, approved seeking consent of the shareholders to invite subscription for non-convertible debentures or bonds on a private placement basis for an amount of upto Rs 25000 crore.

ICICI Banks board approved the sale of a part of its shareholding in its insurance subsidiary ICICI Prudential Life Insurance Company through an initial public offer by the bank, subject to market conditions and necessary approvals. The size and other details of the offer would be determined in due course, the bank said.

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

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UPL gains after reporting good Q4 results
Apr 29,2016

The result was announced during market hours today, 29 April 2016.

Meanwhile, the BSE Sensex was down 62.29 points, or 0.26%, to 25,537.78.

Higher than usual volumes were witnessed on the counter. On BSE, so far 2.21 lakh shares were traded in the counter, compared with an average volume of 92,590 shares in the past one quarter. The stock hit a high of Rs 534.95 and a low of Rs 518 so far during the day. The stock hit a record high of Rs 576 on 11 August 2015. The stock hit a 52-week low of Rs 342 on 29 February 2016. The stock had outperformed the market over the past one month till 28 April 2016, gaining 14.36% compared with Sensexs 2.55% gains. The scrip had also outperformed the market in past one quarter, gaining 25.91% as against Sensexs 4.63% gains.

The large-cap company has an equity capital of Rs 85.72 crore. Face value per share is Rs 2.

UPL recommended a dividend Rs 5 per equity share for the year ended 31 March 2016 (FY 2016).

UPL is the largest Indian multinational agrochemical company and is engaged in research, manufacturing, marketing, sales and distribution of agrochemicals and specialty chemicals across the globe.

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ICICI Bank drops after poor Q4 numbers
Apr 29,2016

The result was announced during market hours today, 29 April 2016.

Meanwhile, the S&P BSE Sensex was down 16.10 points or 0.06% at 25,619.20.

Heavy volumes were witnessed on the counter. On BSE, so far 35.27 lakh shares were traded in the counter as against average daily volume of 18.82 lakh shares in the past one quarter. The stock was volatile. The stock lost as much as 2.26% at the days low of Rs 234.70 so far during the day. The stock rose as much as 1.6% at the days high of Rs 244 so far during the day. The stock had hit a 52-week low of Rs 180.80 on 26 February 2016. The stock had hit a 52-week high of Rs 337.35 on 6 May 2015. The stock had outperformed the market over the past one month till 28 April 2016, gaining 6.61% compared with Sensexs 2.55% rise. The scrip had, however, underperformed the market in past one quarter, advancing 3.09% as against Sensexs 4.63% rise.

The large-cap private sector bank has equity capital of Rs 1163.03 crore. Face value per share is Rs 2.

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

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Infosys gains after expanding alliance with Microsoft Corp
Apr 29,2016

The announcement was made after market hours yesterday, 28 April 2016.

Meanwhile, the S&P BSE Sensex was up 21.18 points or 0.08% at 25,624.28.

On BSE, so far 40,987 shares were traded in the counter as against average daily volume of 3.09 lakh shares in the past one quarter. The stock hit a high of Rs 1,224.40 and a low of Rs 1,210 so far during the day. The stock had hit a record high of Rs 1,267.90 on 18 April 2016. The stock had hit a 52-week low of Rs 932.55 on 10 July 2015. The stock had underperformed the market over the past one month till 28 April 2016, gaining 0.56% compared with Sensexs 2.55% gains. The scrip had, however, outperformed the market in past one quarter, gaining 7.08% as against Sensexs 4.63% gains.

The large-cap company has equity capital of Rs 1148.47 crore. Face value per share is Rs 5.

Infosys announced an expanded relationship with Microsoft Corp to simplify and automate migration to Microsoft products and to accelerate Microsoft Azure-based and other digital transformations for clients. Infosys has committed to scale its team of dedicated Azure consultants to 5,000.

The enhanced alliance builds on Infosys longstanding relationship with Microsoft as a Global Managed Alliance Partner. Infosys brings the productivity benefits of Microsoft products to its global client base, and is also a provider of technology and business process services to Microsoft.

Many organizations wanting to migrate to the cloud select Azure as an open, hyperscale, enterprise-grade cloud platform. Together, Microsoft and Infosys address a range of migration and implementation scenarios to bring the benefits of cloud to clients quickly and easily. Infosys world-class learning and education center continuously renews the skills of thousands of engineers, helping to drive innovation and automation in all engagements with Microsoft.

Infosys consolidated net profit rose 3.8% to Rs 3597 crore on 4.1% growth in revenue to Rs 16550 crore in Q4 March 2016 over Q3 December 2015.

Infosys is a global leader in consulting, technology and outsourcing solutions.

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Bharti Airtel declines as buyback to commence after Courts nod for merger of subsidiary
Apr 29,2016

The announcement was made before market hours today, 29 April 2016.

Meanwhile, the S&P BSE Sensex was down 20.47 points or 0.08% at 25,582.63.

On BSE, so far 89,000 shares were traded in the counter as against average daily volume of 3.37 lakh shares in the past one quarter. The stock hit a high of Rs 373 and a low of Rs 364.55 so far during the day. The stock had hit a 52-week low of Rs 282.30 on 29 January 2016. The stock had hit a 52-week high of Rs 452.45 on 21 July 2015. The stock had outperformed the market over the past one month till 28 April 2016, gaining 6.33% compared with Sensexs 2.55% rise. The scrip had also outperformed the market in past one quarter, surging 27.81% as against Sensexs 4.63% rise.

The large-cap company has equity capital of Rs 1998.70 crore. Face value per share is Rs 5.

Bharti Airtel said that the scheme of amalgamation of Augere Wireless Broadband India (Augere), a wholly owned subsidiary with the company is under consideration for approval by the High Court of Delhi.

Bharti Airtels board of directors at its meeting held on 27 April 2016, approved the proposal to buyback the shares on a proportionate basis through a tender offer. The buyback shall be up to an aggregate amount not exceeding Rs 1434 crore at a price of Rs 400 per share translating into approximately 3.58 crore shares, representing 0.9% of the total paid up equity share capital of the company.

Meanwhile, according to reports, a foreign brokerage has maintained its underperform rating on Bharti Airtel stock citing expensive valuations considering the near-term risks.

Bharti Airtels consolidated net profit rose 2.8% to Rs 1290.30 crore on 8.4% growth in net sales to Rs 24959.60 crore in Q4 March 2016 over Q4 March 2015.

Bharti Airtel is one of the leading global telecommunications service providers with operations in 20 countries across Asia and Africa.

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HCL Tech hits 52-week low
Apr 29,2016

Meanwhile, the S&P BSE Sensex was up 7.71 points or 0.03% at 25,610.81.

The stock tumbled on heavy volumes. On BSE, so far 4.61 lakh shares were traded in the counter as against average daily volume of 1.03 lakh shares in the past one quarter. The stock hit a low of Rs 756.60 so far during the day, which is a 52-week low for the counter. The stock hit a high of Rs 795 so far during the day. The stock had hit a 52-week high of Rs 1,047.50 on 29 May 2015. The stock had underperformed the market over the past one month till 28 April 2016, sliding 1.44% compared with Sensexs 2.55% rise. The scrip had also underperformed the market in past one quarter, declining 5.26% as against Sensexs 4.63% rise.

The large-cap company has equity capital of Rs 282.11 crore. Face value per share is Rs 2.

Shares of HCL Technologies (HCL Tech) have dropped 9.28% in two trading sessions from its close of Rs 837.70 on 27 April 2016, after the companys financial results for the quarter ended 31 March 2016 announced before market hours yesterday, 28 April 2016, fell below market expectations. The stock had lost 4.51% to settle at Rs 799.95 yesterday, 28 April 2016.

HCL Techs consolidated net profit rose 0.3% to Rs 1926 crore on 3.4% growth in revenue to Rs 10698 crore in the quarter ended 31 March 2016 over the quarter ended 31 December 2015. Revenue in constant currency terms rose 1.7% on sequential basis in the quarter ended 31 March 2016. In dollar terms, HCL Techs net profit declined 2% to $285 million on 1.3% growth in revenue to $1,587 million in the quarter ended 31 March 2016 over the quarter ended 31 December 2015. HCL Tech has changed its accounting year to the period from 1 April to 31 March from earlier 1 July to 30 June.

Meanwhile, reports suggested that three foreign brokerages have cut their target price on HCL Technologies stock in the wake of the companys disappointing March quarter earnings.

HCL Technologies is a leading global IT services company working with clients in the areas that impact and redefine the core of their businesses.

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Glenmark Pharma gains after receiving tentative approval from USFDA for drug
Apr 29,2016

The announcement was made before market hours today, 29 April 2016.

Meanwhile, the BSE Sensex was up 49.95 points, or 0.2%, to 25,657.63.

On BSE, so far 14,375 shares were traded in the counter, compared with an average volume of 53,445 shares in the past two weeks. The stock hit a high of Rs 833.95 and a low of Rs 820.05 so far during the day. The stock hit a record high of Rs 1,261.95 on 21 August 2015. The stock hit a 52-week low of Rs 671.50 on 12 February 2016. The stock had underperformed the market over the past one month till 28 April 2016, dropping 0.09% compared with Sensexs 2.55% gains. The scrip had, however, outperformed the market in past one quarter, gaining 9.02% as against Sensexs 4.63% gains.

The large-cap company has an equity capital of Rs 28.22 crore. Face value per share is Re 1.

Glenmark Pharmaceuticals Inc., USA has been granted tentative approval by the United States Food & Drug Administration (USFDA) for Adapalene and Benzoyl Peroxide Gel, 0.1%/2.5%, the generic version of Epiduo Gel of Galderma Laboratories L.P.

According to IMS Health sales data for the 12 month period ending February 2016, the Epiduo Gel market achieved annual sales of approximately $351.8 million in the US.

Glenmarks current portfolio consists of 112 products authorized for distribution in the US marketplace and 58 Abbreviated New Drug Application (ANDA)s pending approval with the USFDA. In addition to these internal filings, Glenmark continues to identify and explore external development partnerships to supplement and accelerate the growth of its existing pipeline and portfolio.

On a consolidated basis, Glenmark Pharmaceuticals net profit rose 48.1% to Rs 169.95 crore on 1.9% growth in net sales to Rs 1724.46 crore in Q3 December 2015 over Q3 December 2014.

Glenmark Pharmaceuticals is a research-driven, global, integrated pharmaceutical organization headquartered at Mumbai, India. Glenmark has several molecules in various stages of clinical development and is primarily focused in the areas of Inflammation (asthma/COPD, rheumatoid arthritis etc.) and pain (neuropathic pain and inflammatory pain).

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HCC drops after announcing weak Q4 numbers
Apr 29,2016

The result was announced after market hours yesterday, 28 April 2016.

Meanwhile, the S&P BSE Sensex was up 69.23 points or 0.27% at 25,672.33.

On BSE, so far 6.74 lakh shares were traded in the counter as against average daily volume of 8.43 lakh shares in the past one quarter. The stock hit a high of Rs 22.30 and a low of Rs 21.10 so far during the day. The stock had hit a 52-week low of Rs 16.35 on 25 August 2015. The stock had hit a 52-week high of Rs 33.15 on 29 April 2015. The stock had outperformed the market over the past one month till 28 April 2016, gaining 13.11% compared with Sensexs 2.55% rise. The scrip had, however, underperformed the market in past one quarter, advancing 1.62% as against Sensexs 4.63% rise.

The small-cap company has equity capital of Rs 77.92 crore. Face value per share is Rs 1.

Hindustan Construction Companys (HCC) operating profit rose 22.5% to Rs 235.50 crore in Q4 March 2016 over Q4 March 2015. Earnings before interest, taxation, depreciation and amortization (EBITDA) margin edged higher to 19.8% in Q4 March 2016, from 17.2% in Q4 March 2015.

HCC is a business group of global scale developing and building responsible infrastructure through next practices. The company serves the infrastructure sectors of transportation, power and water.

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Dabur India gains after boards approval for setting up manufacturing plant
Apr 29,2016

The announcement was made after market hours yesterday, 28 April 2016.

Meanwhile, the S&P BSE Sensex was up 59.12 points or 0.23% at 25,662.22.

Higher than normal volumes were witnessed on the counter. On BSE, so far 1.1 lakh shares were traded in the counter as against average daily volume of 52,376 shares in the past one quarter. The stock hit high of Rs 279.10 and low of Rs 271.15 so far during the day. The stock had hit a record high of Rs 316.50 on 6 August 2015. The stock had hit a 52-week low of Rs 231.30 on 27 January 2016. The stock had outperformed the market over the past one month till 28 April 2016, rising 13.57% compared with Sensexs 2.55% gains. The scrip had also outperformed the market in past one quarter, gaining 48.7% as against Sensexs 4.63% gains.

The large-cap company has equity capital of Rs 176.09 crore. Face value per share is Rs 1.

Dabur India said that in order to meet the growing demand for products of the company, the board of the directors of the company in its meeting held yesterday, 28 April 2016 approved a capital expenditure of Rs 250 crore for setting up a manufacturing plant at Tezpur, Assam. The expenditure shall be financed through internal accruals. The plant is likely to commence the operations in the calendar year 2017.

Dabur Indias consolidated net profit rose 16.6% to Rs 331.93 crore on 10.9% rise in net sales to Rs 2157.31 crore in Q4 March 2016 over Q4 March 2015. The stock had dropped 1.05% to Rs 269.40 yesterday, 28 April 2016 after announcing Q4 results during market hours yesterday, 28 April 2016.

Meanwhile, according to reports, a foreign brokerage has maintained its buy rating on Dabur India stock in the wake of the companys impressive Q4 March 2016 earnings. The brokerage reportedly said that Dabur India stock will continue to outperform going forward. The brokerage expects Dabur to beat estimates going ahead on volumes and margins front.

Dabur India is one of the largest FMCG companies in India. The company operates in key consumer products categories like hair care, oral care, health care, skin care, home care & foods.

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Lupin gains after relaunching a drug in US
Apr 29,2016

Lupin made the announcement at fag end of the trading session yesterday, 28 April 2016. The stock had risen 0.44% to settle at Rs 1,577.15 on that day.

Meanwhile, the S&P BSE Sensex was up 94.17 points or 0.37% at 25,697.27.

On BSE, so far 42,000 shares were traded in the counter as against average daily volume of 3.53 lakh shares in the past one quarter. The stock hit a high of Rs 1,617.65 and a low of Rs 1,569.60 so far during the day. The stock had hit a record high of Rs 2,127 on 6 October 2015. The stock had hit a 52-week low of Rs 1,294.05 on 29 March 2016. The stock had outperformed the market over the past one month till 28 April 2016, gaining 5.48% compared with Sensexs 2.55% rise. The scrip had, however, underperformed the market in past one quarter, sliding 7.61% as against Sensexs 4.63% rise.

The large-cap company has equity capital of Rs 90.14 crore. Face value per share is Rs 2.

Lupin and its US subsidiary, Lupin Pharmaceuticals, Inc. have announced the re-introduction of Methergine (methylergonovine maleate) Oral Tablets 0.2mg in the US for the prevention and management of postpartum hemorrhage (PPH). Methergine is the only FDA-approved oral uterotonic and is a preferred oral agent in the management of PPH, according to guidelines issued by the American Congress of Obstetricians and Gynecologists (ACOG).

Lupins consolidated net profit declined 11.9% to Rs 529.75 crore on 6.8% growth in net sales to Rs 3357.66 crore in Q3 December 2015 over Q3 December 2014.

Lupin is a pharmaceutical company producing and developing a wide range of branded & generic formulations, biotechnology products and APIs globally. The company is a significant player in the cardiovascular, diabetology, asthma, pediatric, CNS, GI, anti-infective and NSAID space and holds global leadership positions in the anti-TB and cephalosporin segment.

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Vedanta gains after trimming losses in Q4 results
Apr 29,2016

Vedanta announced the fourth quarter results after trading hours yesterday, 28 April 2016.

Meanwhile, the S&P BSE Sensex was up 145.24 points or 0.57% at 25,748.34.

On BSE, so far 6.33 lakh shares were traded in the counter as against average daily volume of 27.12 lakh shares in the past one quarter. The stock hit high of Rs 103.90 and low of Rs 100.50 so far during the day. The stock had hit a 52-week high of Rs 233.45 on 11 May 2015. The stock had hit a 52-week low of Rs 58.10 on 12 February 2016. The stock had outperformed the market over the past one month till 28 April 2016, rising 13.57% compared with Sensexs 2.55% gains. The scrip had also outperformed the market in past one quarter, gaining 48.7% as against Sensexs 4.63% gains.

The large-cap company has equity capital of Rs 296.47 crore. Face value per share is Re 1.

On a consolidated basis, Vedanta posted net loss of Rs 11181 crore in Q4 March 2016, lower than net loss of Rs 19228 crore in Q4 March 2015. Net sales fell 11% to Rs 15829 crore in Q4 March 2016 over Q4 March 2015. Net profit before exceptional items surged 89% to Rs 955 crore in Q4 March 2016 over Q4 March 2015. Non-operational income or the so-called other income surged 3485.68% to Rs 1289 crore in Q4 March 2016 over Q4 March 2015. Vedanta said that the non-operational income income was significantly higher in Q4 March 2016 largely due to timing differences wherein income earned on certain investments are recognized at maturity. During the quarter, a substantial portion of investments were liquidated at Hindustan Zinc on account of an announcement of special dividend and at Cairn India.

Earnings before interest, tax, depreciation and amortization (EBITDA) dropped 13% to Rs 3508 crore in Q4 March 2016 over Q4 March 2015. The fall in EBITDA in Q4 March 2016 was primarily due to a steep fall in oil and metal prices and premia; partly offset by cost saving initiatives and strong volumes, Vedanta said. Revenues in Q4 March 2016 were 11% lower on account of the fall in oil and metal prices, which were partially offset by higher volumes, the company said.

Exceptional items in Q4 March 2016 totalled Rs 12312 crore, of which Rs 12304 crore pertained to impairment. The impairment was triggered by the continued fall in oil prices during the year. Further, in light of the declining iron ore prices, both the acquisition goodwill and carrying value of the exploratory assets in West Africa (Western Cluster, Liberia) have also been impaired to the extent of Rs 1490 crore. Additionally, certain unused fixed assets and goodwill at copper mines of Tasmania and Bellary, Karnataka (Iron Ore) incurred an impairment charge of Rs 456 crore.

Vedanta is a diversified natural resources company, whose business primarily involves producing oil & gas, zinc - lead - silver, copper, iron ore, aluminium and commercial power. The company has a presence across India, South Africa, Namibia, Australia, Ireland, Liberia and Sri Lanka. Vedanta, formerly Sesa Sterlite is the Indian subsidiary of Vedanta Resources Plc, a London-listed company.

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Idea Cellular declines after weak Q4 results
Apr 29,2016

The result was announced after market hours yesterday, 28 April 2016.

Meanwhile, the S&P BSE Sensex was down 14.54 points or 0.06% at 25,588.56.

On BSE, so far 1.73 lakh shares were traded in the counter as against average daily volume of 3.77 lakh shares in the past two weeks. The stock hit a high of Rs 124.90 and a low of Rs 121.40 so far during the day. The stock had hit a 52-week low of Rs 97.55 on 10 February 2016. The stock had hit a 52-week high of Rs 198.10 on 29 April 2015.

The large-cap company has equity capital of Rs 3600.51 crore. Face value per share is Rs 10.

Idea Cellulars earnings before interest, taxation, depreciation and amortization (EBITDA) margin improved to 38.1% in Q4 March 2016 from 36.4% in Q4 March 2015. EBITDA rose 18% to Rs 3616 crore in Q4 March 2016 over Q4 March 2015.

Idea Cellular is one of the leading telecom operators in India. It is a part of the Aditya Birla Group.

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Ambuja Cements gains after reporting Q1 results
Apr 29,2016

The result was announced after market hours yesterday, 28 April 2016.

Meanwhile, the S&P BSE Sensex was down 59.34 points or 0.23% at 25,543.76.

On BSE, so far 14,720 shares were traded in the counter as against average daily volume of 2.1 lakh shares in the past one quarter. The stock hit a high of Rs 223.75 and a low of Rs 221 so far during the day. The stock had hit a 52-week high of Rs 256.50 on 15 July 2015. The stock had hit a 52-week low of Rs 185 on 29 February 2016.

The large-cap company has equity capital of Rs 310.38 crore. Face value per share is Rs 2.

Ambuja Cements net profit fell 4.38% to Rs 303.76 crore on 0.88% rise in total income to Rs 2580.85 crore in Q1 March 2016 over Q1 March 2015. Ambuja Cements said that inspite of lower production and distribution cost net profit and operating earnings before interest, tax, depreciation and amortization (EBITDA) were lower mainly due to lower prices, additional provision towards contribution to District Mineral Foundation and increased advertising and promotion expenses. Operating EBITDA fell 11.8% to Rs 450 crore in Q1 March 2016 over Q1 March 2015. Sales volumes rose 9.5% to 5.86 million tonnes in Q1 March 2016 over Q1 March 2015 on the back of good demand.

In its outlook the company said that considring favourable announcements in the Union Budget and other initiative by the government for infrastructure, housing, smart cities, concrete roads etc., the medium to long term outlook for cement demand remains positive.

Ambuja Cements said that the board of directors yesterday, 28 April 2016 have withdrawn the scheme of amalgamation of Dirk India, a wholly owned subsidiary with the company. The board on 27 July 2015 had approved the scheme.

Ambuja Cements is engaged in manufacturing and marketing cement and clinker for both domestic and exports.

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ACC gains in volatile trade after reporting Q1 result
Apr 28,2016

The result was announced during market hours today, 28 April 2016.

Meanwhile, the BSE Sensex was down 493.07 points, or 1.89%, to 25,571.05.

Higher than normal volumes were witnessed on the counter. On BSE, so far 49,815 shares were traded in the counter, compared with an average volume of 20,553 shares in the past one quarter. The stock was volatile. At the days high of Rs 1,444.85, the stock rose 1.08%. At the days low of Rs 1,409.55 hit so far during the day, the stock fell 1.38%. The stock hit a record high of Rs 1,545 on 29 April 2015. The stock hit a 52-week low of Rs 1,173.25 on 29 February 2016. The stock had outperformed the market over the past one month till 27 April 2016, rising 4.3% compared with Sensexs 2.87% gains. The scrip had also outperformed the market in past one quarter, gaining 16.13% as against Sensexs 6.42% gains.

The large-cap company has an equity capital of Rs 187.75 crore. Face value per share is Rs 10.

ACCs consolidated net profit dropped 4.05% to Rs 226.95 crore on 1.45% rise in net sales to Rs 2927.38 crore in Q1 March 2016 over Q1 March 2015. Consolidated operating earnings before interest, tax, depreciation and amortization (EBITDA) dropped 28.85% to Rs 433.59 crore in Q1 March 2016 over Q1 March 2015. Operating EBITDA dropped in Q1 March 2016 due to higher operating EBITDA in Q1 March 2015 as it included an accrual of Rs 139.74 crore pursuant to a favourable order from the Jharkhand High Court pertaining to sales tax incentives for earlier years. Cement sales volumes rose 9.27% to 6.36 million tonnes in Q1 March 2016 over Q1 March 2015. The demand for cement saw an increase due to pick up in construction activity in infrastructure and housing sectors during Q1 March 2016. ACCs other operating income declined 67.52% to Rs 63.22 crore in Q1 March 2016 over Q1 March 2015. Other operating income in Q1 March 2015 includes Rs 139.74 crore being accrual of sales tax incentives pertaining to the period August 2005 to March 2015.

In its outlook, ACC said that acceleration in governments investment in infrastructure and other urbanization projects, new schemes and allocations announced in the recent Union Budget especially in roads and housing, softening of interest rates giving a fillip to housing and forecast of above normal monsoon this year are all trends that portend well for heightened construction activity and in turn for an increase in the demand for both cement and concrete.

ACC is a manufacturer of cement and ready mixed concrete with a countrywide network of factories and sales offices.

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Dabur India pares intraday losses after good Q4 earnings
Apr 28,2016

The result was announced during market hours today, 28 April 2016.

Meanwhile, the S&P BSE Sensex was down 460 points or 1.76% at 25,604.12.

On BSE, so far 3 lakh shares were traded in the counter as against average daily volume of 50,685 shares in the past one quarter. The stock was volatile. The stock lost as much as 3.47% at the days low of Rs 262.80 so far during the day. The stock rose as much as 1.01% at the days high of Rs 275 so far during the day. The stock had hit a 52-week low of Rs 231.30 on 27 January 2016. The stock had hit a record high of Rs 316.50 on 6 August 2015.

The large-cap company has equity capital of Rs 176.09 crore. Face value per share is Rs 1.

Dabur India said that it has reported good growth across its key categories like oral care, home care, foods and hair oils in Q4 March 2016 in a challenging macro environment and amid softening consumer demand. The companys Chief Executive Officer Sunil Duggal said that going forward, the company will leverage its strong herbal heritage and product portfolio to take advantage of the growing consumer preference for natural and ayurvedic products.

Dabur India is one of the largest FMCG companies in India. The company operates in key consumer products categories like hair care, oral care, health care, skin care, home care & foods.

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