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Electrosteel Steels jumps after board approves annual business plan
Apr 18,2016

The announcement was made after market hours on Wednesday, 13 April 2016.

Meanwhile, the BSE Sensex was up 185.61 points, or 0.72%, to 25,812.36 .

On BSE, so far 9.61 lakh shares were traded in the counter, compared with an average volume of 2.98 lakh shares in the past one quarter. The stock hit a high of Rs 4.06 and a low of Rs 3.46 so far during the day. The stock hit a 52-week high of Rs 4.80 on 11 May 2015. The stock hit a record low of Rs 2.05 on 8 September 2015. The stock had underperformed the market over the past one month till 13 April 2016, rising 2.42% compared with 3.68% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 6.09% as against Sensexs 3.11% rise.

The small-cap company has an equity capital of Rs 2409.24 crore. Face value per share is Rs 10.

Electrosteel Steels said that its board has approved annual business plan for the financial year 2016-2017 with estimated/expected annual turnover of around Rs 4500 crore, which in terms of goods sold in tonnes compared with financial year ended March 2016 (FY 2016) is expected to be more than 25%. The company at present is producing pig iron, billets, TMT bars, wire rod and ductile iron pipes. During FY 2016, the overall sales of the company compared with FY 2015 in terms products sold in tonnes increased by more than 78%.

Further, the board also approved allotment of equity shares of the company on preferential basis at face value of Rs 10 each for consideration other than cash on private placement basis to Shandong Province Metallurgical Engineering Co, People Republic of China against amount payable but not due to the company on account of retention, pending successful completion and/or performance guarantee test of various capital equipment supplied for the companys plant, aggregating to $22.68 million not exceeding Rs 150 crore, subject to approval of the lenders and shareholders of the company and such other approvals, permissions as may be required in connection thereof.

Electrosteel Steels reported net loss of Rs 221.63 crore in Q3 December 2015 as against net loss of Rs 148.65 crore in Q3 December 2014. Net sales rose 18.76% to Rs 591.48 crore in Q3 December 2015 over Q3 December 2014.

Electrosteel Steels makes products like pig iron, billets, TMT bars, wire rods and ductile iron pipes.

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M&M edges higher in volatile trade
Apr 18,2016

Meanwhile, the S&P BSE Sensex was up 162.19 points or 0.63% at 25,788.94.

On BSE, so far 1.06 lakh shares were traded in the counter as against average daily volume of 87,273 shares in the past one quarter. The stock was volatile. The stock rose as much as 1.65% at the days high of Rs 1,354.70 so far during the day. The stock fell as much as 1.2% at the days low of Rs 1,316.50 so far during the day. The stock had hit a record high of Rs 1,441.45 on 7 August 2015. The stock had hit a 52-week low of Rs 1,092 on 12 February 2016.

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

According to Mahindra & Mahindra (M&M), complying with safety norms would mean an average cost of Rs 25,000 to Rs 30,000 per vehicle and complying with BSVI norms would increase the price by around Rs 1.50 lakh per vehicle (approximate cost increase of Rs 90,000 plus taxes) based on current technologies for complying with these norms. M&Ms Executive Director and Group President, Auto and Farm Equipment Sectors & Member of the Group Executive Board Dr. Pawan Goenka said in an interaction with auto industry analysts on 13 April 2016 that the capex requirement for M&M for BSVI compliance would be around Rs 500 crore. There will be additional capex to be incurred at the vendors end, he said.

Goenka said that the company is working on a range of gasoline engine options. The company intends to launch gasoline options for its sports utility vehicles Scorpio and XUV500 within the next 12 months. KUV100 has received good response from customers. Currently, KUV100 has a waiting period of 6-8 weeks. The gasoline variant of KUV100 has received good response and contributes to about 45% of KUV100 sales.

Goenka expects the ongoing momentum in M&Ms exports growth to continue with the neighboring markets as well as Africa and South American markets.

With regard to the tractors business, Goenka said that the company is very well poised to take advantage of the expected growth in the tractors industry in India with a strong launch of its Yuvo series (5 tractor models) in the mainstream segment of 30-45 hp which accounts for 80% of the tractors market size. The Yuvo has been developed after significant understanding of customer insights, he said.

M&Ms net profit declined 14.2% to Rs 807.99 crore on 17.1% growth in net sales to Rs 10900.39 crore in Q3 December 2015 over Q3 December 2014.

Mahindra Group enjoys a leadership position in tractors, utility vehicles, information technology, financial services and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two-wheeler industries.

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Volumes jump at Zee Learn counter
Apr 18,2016

Zee Learn clocked volume of 22.78 lakh shares by 12:51 IST on BSE, a 429.79-times surge over two-week average daily volume of 5,000 shares. The stock fell 2.13% to Rs 29.85.

Timken India notched up volume of 2.07 lakh shares, a 25.88-fold surge over two-week average daily volume of 8,000 shares. The stock rose 3.91% to Rs 517.45.

Gujarat Pipavav Port saw volume of 5.10 lakh shares, a 12.07-fold surge over two-week average daily volume of 42,000 shares. The stock fell 1.41% to Rs 175.20.

Gulf Oil Lubricants India clocked volume of 2.75 lakh shares, a 9.99-fold surge over two-week average daily volume of 27,000 shares. The stock rose 5.13% to Rs 565.

Asahi Songwon Colors saw volume of 14.47 lakh shares, a 9.60-fold rise over two-week average daily volume of 1.51 lakh shares. The stock rose 1.93% to Rs 158.50.

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Indag Rubber slumps after announcing weak Q4 numbers
Apr 18,2016

The result was announced on Thursday, 14 April 2016. The stock market was closed on 14 April 2016 and 15 April 2016 on account of holidays.

Meanwhile, the S&P BSE Sensex was up 127.92 points or 0.5% at 25,754.67.

On BSE, so far 20,000 shares were traded in the counter as against average daily volume of 10,940 shares in the past one quarter. The stock hit a high of Rs 189 and a low of Rs 170 so far during the day. The stock had hit a 52-week low of Rs 145.60 on 12 February 2016. The stock had hit a record high of Rs 237 on 2 December 2015. The stock had outperformed the market over the past one month till 13 April 2016, surging 13.57% compared with Sensexs 3.68% rise. The scrip had, however, underperformed the market in past one quarter, gaining 2.12% as against Sensexs 3.11% rise.

The small-cap company has equity capital of Rs 5.25 crore. Face value per share is Rs 2.

Indag Rubber provides re-treading material to its customers ranging from pre-cure tread to curing envelopes.

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Aban Offshore slips as crude oil prices decline
Apr 18,2016

Meanwhile, the BSE Sensex was up 121.15 points, or 0.47%, to 25,747.90 .

On BSE, so far 1.13 lakh shares were traded in the counter, compared with an average volume of 3.46 lakh shares in the past one quarter. The stock hit a high of Rs 184.80 and a low of Rs 180.55 so far during the day. The stock hit a 52-week high of Rs 481.90 on 16 April 2015. The stock hit a 52-week low of Rs 142.50 on 12 February 2016. The stock had underperformed the market over the past one month till 13 April 2016, sliding 0.21% compared with 3.68% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 7.08% as against Sensexs 3.11% rise.

The small-cap offshore oil services provider has an equity capital of Rs 11.67 crore. Face value per share is Rs 2.

Shares of Aban Offshore fell as a decline in crude oil prices raised concerns that oil firms may go slow on expansion of exploration and production activities.

Brent for June settlement was currently down $1.94 a barrel at $41.16 a barrel after talks over the weekend between the worlds largest oil producing countries in Doha failed to produce a deal to freeze output aimed at boosting sagging crude prices. The contract had declined 74 cents or 1.68% to settle at $43.10 a barrel during the previous trading session.

On a consolidated basis, Aban Offshore reported net loss of Rs 88.73 crore in Q3 December 2015 as against net profit of Rs 129.99 crore in Q3 December 2014. Net sales declined 26.87% to Rs 733.60 crore in Q3 December 2015 over Q3 December 2014.

Aban Offshore offers a diverse range of offshore drilling services to clients in India and abroad.

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Alkem Lab declines on reports German authorities accuse the company of fudging clinical data
Apr 18,2016

Meanwhile, the S&P BSE Sensex was up 109.86 points or 0.43% at 25,736.61.

On BSE, so far 40,000 shares were traded in the counter as against average daily volume of 27,800 shares in the past one quarter. The stock hit a high of Rs 1,285 and a low of Rs 1,236 so far during the day. The stock had hit a record low of Rs 1,232 on 26 February 2016. The stock had hit a record high of Rs 1,589 on 5 January 2016. The stock had underperformed the market over the past one month till 13 April 2016, falling 2.43% compared with Sensexs 3.68% rise. The scrip had also underperformed the market in past one quarter, declining 5.43% as against Sensexs 3.11% rise.

The large-cap company has equity capital of Rs 23.91 crore. Face value per share is Rs 2.

Reports suggested that German authorities had accused Alkem Laboratories (Alkem) of manipulating heart readings of patients in some trials for the antibiotic cefuroxime and the brain disorder drug rulizole, following an inspection of the companys plant in Taloja in western India in March 2015. The European Medicines Agency (EMA) is investigating the medicines after Germany reported its findings to EMA and urged it to take action, reports suggested.

In a statement issued on Saturday, 16 April 2016, Alkem said that The Federal Institute of Drug and Medical Devices (BfArM), Germany, and the Health Care Inspectorate (IGZ), Ministry of Health of the Netherlands performed a joint inspection in March 2015 at Alkems bioequivalence facility at Taloja. The inspection refers to bioequivalence studies conducted for the period between March 2013 and March 2015 and in particular to bioequivalence trials of two products, of which one is commercialized and another is yet to be commercialized, Alkem said. The company will be submitting a suitable clarification to EMA within the stipulated timelines to enable the Committee for Medicinal Products for Human Use (CHMP) take a balanced risk-benefit view with respect to these two products, Alkem said. Currently, sales from Europe contributes less than 1% to Alkems total consolidated sales for the nine months of FY 2016, the company said.

After the inspection of March 2015 by German regulator, BfArM, Alkem said it has responded to the regulator with a robust remediation plan and has also been implementing several measures which include changes in staffing, upgrading equipment and improving quality assurance systems to ensure proper controls during bioequivalence studies and thorough review of the acquired data.

Alkem Laboratories consolidated net profit rose 17% to Rs 188.93 crore on 28.6% growth in net sales to Rs 1245.99 crore in Q3 December 2015 over Q3 December 2014.

Alkem Laboratories is the fifth largest pharmaceutical company in India by domestic sales. The developer, manufacturer and seller of pharmaceutical and neutraceutical products including branded generics, generic drugs, active pharmaceutical ingredients (APIs) and nutraceuticals has 14 manufacturing locations in India and two in the US.

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Telecom stocks in demand
Apr 18,2016

Idea Cellular (up 5.84%), Reliance Communications (up 1.04%), Tata Teleservices (Maharashtra) (up 0.76%), Bharti Airtel (up 0.53%) and MTNL (up 0.28%), edged higher.

The S&P BSE Sensex was up 120.12 points, or 0.47% at 25,746.87.

One of the issues raised by the telecom service provider was whether service tax is payable, on installments due after 1 April 2016, for spectrum assigned or auctioned to them in the past, the Finance Ministry said in a statement. It has been clarified that service tax payable -- whether in full upfront or in installments -- for assignment of right to use such spectrum has been exempted from service tax, the statement said.

Furthermore, services provided by government by way of allowing a telecom service provider to operate as a telecom service provider or use radio frequency spectrum during the financial year ended March 2016 on payment of licence fee or spectrum user charges, has been specifically exempted from service tax.

The government has also allowed telecom firms to claim credit for taxes in three years instead of the entire lifecycle of the spectrum but has stayed firm on the levy on future auctions.

The clarification was issued after a Budget provision made all government services including auctions taxable.

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Nalco surges on share buyback proposal
Apr 18,2016

The announcement was made after market hours on Wednesday, 13 April 2016. The stock market was closed on 14 April 2016 and 15 April 2016 on account of holidays.

Meanwhile, the S&P BSE Sensex was up 130.50 points or 0.51% at 25,757.25.

On BSE, so far 3.97 lakh shares were traded in the counter as against average daily volume of 1.98 lakh shares in the past one quarter. The stock hit a high of Rs 44 and a low of Rs 42.60 so far during the day. The stock had hit a 52-week high of Rs 50.90 on 12 May 2015. The stock had hit a 52-week low of Rs 28 on 25 August 2015. The stock had outperformed the market over the past one month till 13 April 2016, surging 7.15% compared with Sensexs 3.68% rise. The scrip had also outperformed the market in past one quarter, advancing 11.5% as against Sensexs 3.11% rise.

The large-cap company has equity capital of Rs 1288.62 crore. Face value per share is Rs 5.

National Aluminium Companys (Nalco) net profit fell 62.3% to Rs 133.49 crore on 13.9% decline in net sales to Rs 1615.97 crore in Q3 December 2015 over Q3 December 2014.

State-run Nalco has integrated and diversified operations in mining, metal and power. The Government of India (GoI) held 80.93% stake in the company (as per the shareholding pattern as on 31 March 2016).

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ITC gains on plan to resume cigarette production amid health warning row
Apr 18,2016

The announcement was made on Friday, 15 April 2016.

Meanwhile, the BSE Sensex was up 125.76 points, or 0.49%, to 25,752.51 .

On BSE, so far 1.13 lakh shares were traded in the counter, compared with an average volume of 6.34 lakh shares in the past one quarter. The stock hit a high of Rs 338.40 and a low of Rs 331.10 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 13 April 2016, rising 3.07% compared with 3.68% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 4.73% as against Sensexs 3.11% rise.

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

The government ordered that from 1 April 2016, 85% of a cigarette packs surface had to be covered in health warnings, up from 20%, but cigarette firms halted production saying the policy was not clear.

In a statement to the stock exchanges late on Friday, ITC said that consequent upon a high court order passed in favour of the company, the company will soon resume manufacture of cigarettes in its factories. Its statement gave no details of its court appeal or any subsequent orders. The company also did not address whether it would print bigger health warnings on its packs.

ITC said earlier this month it was not ready to print bigger, excessive health warnings. It also said the government was implementing new rules despite a parliamentary panel report that called for the size of the warnings to be reduced.

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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PSU OMCs gain, oil E&P stocks drop on decline in crude oil price
Apr 18,2016

Public sector oil marketing companies (PSU OMCs) BPCL (up 1.97% at Rs 943.65), HPCL (up 1.21% at Rs 860.10) and Indian Oil Corporation (up 1.55% at Rs 422.90) edged higher. Oil exploration and production (E&P) stocks Cairn India (down 3.96% at Rs 149) and Oil India (down 1.67% at Rs 314.85) edged lower.

Meanwhile, the S&P BSE Sensex was up 130.47 points or 0.51% at 25,757.22.

Brent for June settlement was currently down $1.83 a barrel at $41.27 a barrel after talks over the weekend between the worlds largest oil producing countries in Doha failed to produce a deal to freeze output aimed at boosting sagging crude prices. The contract had declined 74 cents or 1.68% to settle at $43.10 a barrel during the previous trading session.

Decline in crude oil prices could reduce under-recoveries of PSU OMCs on domestic sale of LPG and kerosene at government controlled prices. The government has already decontrolled pricing of petrol and diesel.

Meanwhile, PSU OMCs announced reduction in prices of both petrol and diesel with effect from the midnight of 15/16 April 2016. Indian Oil Corporation has cut the retail-selling price of petrol by 74 paise per litre in Delhi, with corresponding price revision in other states. After the latest price reduction, the price of petrol in Delhi stands at Rs 61.13 a litre. The price of diesel has been cut by Rs 1.30 per litre in Delhi, with corresponding price revision in other states. After the latest price reduction, the price of diesel in Delhi stands at Rs 48.01 a litre.

Lower crude oil prices would result in lower realization from crude sales for oil exploration firms.

Reliance Industries (RIL) fell 0.34% at Rs 1,061.80 after the company announced that the SEZ refinery of the company is planning to shut down one crude distillation unit for routine maintenance & inspection activities from 1 May 2016, for about 3 weeks. The other three crude distillation units including all secondary processing units are expected to operate at normal throughput at Jamnagar refinery complex, RIL said. The company said it does not anticipate any impact on its commercial commitments. The announcement was made before market hours today, 18 April 2016.

ONGC fell 2.37% at Rs 207.95. ONGC after market hours on Wednesday, 13 April 2016, announced that the company has signed an agreement with Reliance Industries (RIL) and BG Group to take over a part of the abandoned assets of the Mid & South Tapti field in Western Offshore of India. The joint venture members signed the Tapti Asset Transfer Agreement on 12 April 2016 with ONGC. ONGC intends to utilize the Tapti facilities (comprising of the processing platforms along with the connected export pipelines) for use in its adjacent Daman Development and C-26 Cluster Development Projects. In December 1994, Government of India awarded the Mid & South Tapti field in Western Offshore of India under the Production Sharing Contract (PSC) regime to a consortium comprising ONGC (with 40% stake), British Gas (with 30% stake) and Reliance Industries (with 30% stake).

ONGC has committed an investment of over Rs 8600 crore towards Daman Development Project and C-26 cluster Development Project to enhance production of natural gas and condensate from its Daman block in Arabian Sea. The production from these two projects is expected to start in Q2 September 2016, with estimated peak production rate of about 11 MMSCMD of gas and over 11,000 barrels of condensate per day, ONGC said.

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Aviation stocks rally on lower crude oil prices
Apr 18,2016

SpiceJet (up 2.97%), Jet Airways (India) (up 2.78%) and InterGlobe Aviation (up 2.61%), edged higher.

The S&P BSE Sensex was up 75.69 points, or 0.30% at 25,702.44.

Brent for June settlement was currently down $1.76 a barrel at $41.34 a barrel after talks over the weekend between the worlds largest oil producing countries in Doha failed to produce a deal to freeze output aimed at boosting sagging crude prices. The contract had declined 74 cents or 1.68% to settle at $43.10 a barrel during the previous trading session.

Lower crude oil prices benefit aviation firms as jet fuel prices, which typically constitute about 50% of airlines operating costs, are directly linked to international crude oil prices.

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RIL drops after announcing maintenance shutdown of Jamnagar refinery unit
Apr 18,2016

The announcement was made before market hours today, 18 April 2016.

Meanwhile, the S&P BSE Sensex was up 61.68 points or 0.24% at 25,688.43.

On BSE, so far 31,000 shares were traded in the counter as against average daily volume of 4.46 lakh shares in the past one quarter. The stock hit a high of Rs 1,065.70 and a low of Rs 1,055 so far during the day. The stock had hit a 52-week low of Rs 819 on 24 August 2015. The stock had hit a 52-week high of Rs 1,089.50 on 15 January 2016. The stock had outperformed the market over the past one month till 13 April 2016, rising 4.9% compared with Sensexs 3.68% rise. The scrip had, however, underperformed the market in past one quarter, sliding 1.1% as against Sensexs 3.11% rise.

The large-cap company has equity capital of Rs 3240.38 crore. Face value per share is Rs 10.

Reliance Industries (RIL) announced that the SEZ refinery of the company is planning to shut down one crude distillation unit for routine maintenance & inspection activities from 1 May 2016, for about 3 weeks. The other three crude distillation units including all secondary processing units are expected to operate at normal throughput at Jamnagar refinery complex, RIL said. The company said it does not anticipate any impact on its commercial commitments.

On consolidated basis, RILs net profit rose 38.7% to Rs 7290 crore on 27% decline in net sales to Rs 68261 crore in Q3 December 2015 over Q3 December 2014. The company is scheduled to announce its Q4 March 2016 results on 22 April 2016.

RIL is a diversified firm having presence in oil exploration, petrochemicals, retail and telecom sectors.

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TCS slips after US court slaps penalty
Apr 18,2016

The announcement was made on Saturday, 16 April 2016.

Meanwhile, the BSE Sensex was up 28.70 points, or 0.11%, to 25,655.45.

On BSE, so far 29,000 shares were traded in the counter, compared with an average volume of 75,899 shares in the past one quarter. The stock hit a high of Rs 2,491.85 and a low of Rs 2,449 so far during the day. The stock hit a 52-week high of Rs 2,769 on 5 October 2015. The stock hit a 52-week low of Rs 2,119 on 29 February 2016. The stock had outperformed the market over the past one month till 13 April 2016, rising 6.64% compared with 3.68% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 10.65% as against Sensexs 3.11% rise.

The large-cap IT company has an equity capital of Rs 197.04 crore. Face value per share is Re 1.

TCS, however, denied the charges and said it would appeal. The company said that it had received a jury verdict in a recently completed jury trial in a lawsuit filed by Epic Systems in the court of Western District Madison, Wisconsin. It is expected that the trial judgement will be entered in the case in the next six to eight weeks, following which the parties can file an appeal within 30 days after the judgement is filed, TCS said. The jurys verdict on liability and damages was unexpected as the company believes they are unsupported by the evidence presented during the trial, TCS said. The company added that it did not misuse or derive any benefit from downloaded documents from Epic Systems user-web portal. TCS said it plans to defend its position vigorously in appeals to higher courts. The company said it appreciates the trial judges announcement from the bench that he is almost certain he will reduce the damages award.

The jury verdict will not have any impact on the companys Q4 March 2016 and FY 2016 financial results, TCS said. The company is set to announce its Q4 March 2016 results today, 18 April 2016.

TCS consolidated net profit fell 0.02% to Rs 6083.39 crore on 0.68% rise in total income to Rs 28058.19 crore in Q3 December 2015 over Q2 September 2015.

TCS is an IT services, consulting and business solutions organization. The company offers a consulting-led, integrated portfolio of IT, BPS, infrastructure, engineering and assurance services.

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Infosys hits record high after strong revenue growth guidance for FY 2017
Apr 18,2016

The result was announced on Friday, 15 April 2016, when the stock market was closed for a holiday. The results are as per International Financial Reporting Standards (IFRS).

Meanwhile, the S&P BSE Sensex was up 112.51 points or 0.44% at 25,739.26.

On BSE, so far 1.52 lakh shares were traded in the counter as against average daily volume of 3.19 lakh shares in the past one quarter. The stock hit a high of Rs 1,267.90 so far during the day, which is a record high for the counter. The stock hit a low of Rs 1,241 so far during the day. 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 13 April 2016, rising 2.59% compared with Sensexs 3.68% rise. The scrip had, however, outperformed the market in past one quarter, gaining 8.29% as against Sensexs 3.11% rise.

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

Infosys forecast revenue growth for the year ending 31 March 2017 (FY 2017) that would exceed growth for the software services industry. Infosys said that it expects revenue growth of 11.8%-13.8% for FY 2017 in US dollar terms. In constant currency terms, the company has forecast 11.5%-13.5% growth in revenue for FY 2017. Infosys revenue growth forecast is higher than 10% to 12% growth for the IT outsourcing sector for FY 2017 forecast by IT industry body National Association of Software and Services Companies (Nasscom) in February this year. Infosys has forecast 12.7%-14.7% growth in revenue in rupee terms for FY 2017 based on rupee dollar exchange rate of 66.26 as on 31 March 2016. The rupee dollar exchange rate stood at 66.64 on 13 April 2016.

After the strong revenue growth guidance for FY 2017, Infosys ADR jumped 8.4% to settle at $20 on the New York Stock Exchange on Friday, 15 April 2016. 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 said that the employee attrition reduced further in Q4 March 2016. On annualized basis, the employee attrition rate declined to 17.3% in Q4 March 2016 from 18.1% in Q3 December 2015.

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

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Gulf Oil Lubricants scales record high after bulk deal
Apr 13,2016

Meanwhile, the S&P BSE Sensex was up 482.41 points or 1.92% at 25,628

On BSE, so far 2.54 lakh shares were traded in the counter as against average daily volume of 3,234 shares in the past one quarter. The stock hit a high of Rs 567.90 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 526.25 so far during the day. The stock had hit a 52-week low of Rs 367 on 7 May 2015. The stock had outperformed the market over the past one month till 12 April 2016, rising 10.89% compared with 1.73% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, rising 0.49% as against Sensexs 1.88% rise.

The small-cap company has equity capital of Rs 9.91 crore. Face value per share is Rs 2.

Gulf Oil Lubricants net profit rose 43.5% to Rs 26.18 crore on 9.1% growth in net sales to Rs 259.64 crore in Q3 December 2015 over Q3 December 2014.

Gulf Oil Lubricants manufactures and markets a complete range of lubricants and oils which are used by automobiles as well as by the industrial sectors.

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