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Jaiprakash Associates leads gainers on BSEs A group
Feb 27,2017

Jaiprakash Associates jumped 8.19% at Rs 15.99. The stock topped the gainers in A group. On the BSE, 1.26 crore shares were traded on the counter so far as against the average daily volumes of 1.03 crore shares in the past two weeks.

Reliance Defence & Engineering rose 7.88%) at Rs 64.35. The stock was the second biggest gainer in A group. On the BSE, 26.13 lakh shares were traded on the counter so far as against the average daily volumes of 5.67 lakh shares in the past two weeks.

Wockhardt rose 7.09% at Rs 755.55. The stock was the third biggest gainer in A group. On the BSE, 3.9 lakh shares were traded on the counter so far as against the average daily volumes of 2.24 lakh shares in the past two weeks.

Raymond rose 5.59% at Rs 589.75. The stock was the fourth biggest gainer in A group. On the BSE, 3.19 lakh shares were traded on the counter so far as against the average daily volumes of 1.23 lakh shares in the past two weeks.

GMR Infrastructure rose 5.51% at Rs 15.70 . The stock was the fifth biggest gainer in A group. On the BSE, 23.83 lakh shares were traded on the counter so far as against the average daily volumes of 27.07 lakh shares in the past two weeks. The company announced that it has completed strategic debt restructuring of its subsidiary, GMR Chhattisgarh Energy. The announcement was made before market hours today, 27 February 2017.

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Ruby Mills spurts after resuming operations at Khalapur unit
Feb 27,2017

The announcement was made on Friday, 24 February 2017. The stock market was closed on that day due to Mahashivratri holiday.

Meanwhile, the S&P BSE Sensex was up 12.99 points or 0.04% at 28,905.96.

On the BSE, 5,001 shares were traded on the counter so far as against the average daily volumes of 2,152 shares in the past one quarter. The stock had hit a high of Rs 365 and a low of Rs 350 so far during the day.

The stock had hit a 52-week high of Rs 518 on 28 September 2016 and a 52-week low of Rs 250.10 on 29 February 2016. It had underperformed the market over the past one month till 23 February 2017, sliding 1.12% compared with the Sensexs 6.55% rise. The scrip had, however, outperformed the market over the past one quarter, advancing 16.7% as against the Sensexs 10.91% rise.

The small-cap company has equity capital of Rs 8.36 crore. Face value per share is Rs 5.

Ruby Mills announced after market hours on Thursday, 23 February 2017 that the companys processing unit at Khalapur had got permission from Maharashtra Pollution Control Board (MPCB) to restart its operations with immediate effect. Earlier, the company had announced to the stock exchanges that the unit was experiencing disruption of operations due to power shut down by Maharashtra State Electricity Board (MSEB) on 7 February 2017, pursuant to MPCB instructions due to non-operation of common effluent treatment plant (CETP).

Ruby Mills net profit rose 23.3% to Rs 8.04 crore on 16.3% decline in net sales to Rs 41.12 crore in Q3 December 2016 over Q3 December 2015.

Ruby Mills is engaged in textiles business.

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Lupin gains after Japanese subsidiary enters into agreement with Astellas
Feb 27,2017

The announcement was made during market hours today, 27 February 2017.

Meanwhile, the S&P BSE Sensex was up 9.07 points or 0.06% at 28,911.59.

On the BSE, 58,552 shares were traded on the counter so far as against the average daily volumes of 71,762 shares in the past one quarter. The stock had hit a high of Rs 1,465 and a low of Rs 1,450 so far during the day. The stock had hit a 52-week high of Rs 1,874.30 on 14 March 2016 and a 52-week low of Rs 1,294.05 on 29 March 2016.

The stock had underperformed the market over the past one month till 23 February 2017, falling 1.97% compared with the Sensexs 6.55% rise. The scrip had also underperformed the market over the past one quarter, dropping 2.28% as against the Sensexs 10.91% rise.

The large-cap company has equity capital of Rs 90.30 crore. Face value per share is Rs 2.

Lupin announced that its Japanese subsidiary Kyowa Pharmaceutical Industry Co., Ltd. and Astellas Pharma Inc. have entered into an agreement providing Kyowa the exclusive right to distribute and promote extended-release tablets of quetiapine fumarate in Japan.

Astellas submitted a new drug application (NDA) withthe Ministry of Health, Labour and Welfare in Japan for extended-release tablets of quetiapine fumarate for theindication of improvement of depressive symptoms associated with bipolar disorder.

When Astellas obtains an approval for the new drug application of extended-release tablets of Quetiapine fumarate, based on the agreement, Kyowa will exclusively distribute and promote the products in Japan, Lupin said.

Lupins consolidated net profit rose 20.7% to Rs 633.11 crore on 31.5% increase in net sales to Rs 4404.94 crore in Q3 December 2016 over Q3 December 2015.

Lupin is an innovation led transnational pharmaceutical company developing and delivering 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 position in the anti-TB segment.

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Gayatri Projects moves higher as JV completes power plant unit
Feb 27,2017

The announcement was made after market hours on Thursday, 23 February 2017. The stock market was shut on Friday, 24 February 2017 due to Mahashivratri holiday.

Meanwhile, the S&P BSE Sensex was up 19.01 points or 0.07% at 28,911.98.

On the BSE, 5,011 shares were traded on the counter so far as against the average daily volumes of 65,466 shares in the past one quarter. The stock had hit a high of Rs 142.70 and a low of Rs 139.05 so far during the day.

The stock had hit a record high of Rs 158 on 23 September 2016 and a 52-week low of Rs 99.75 on 29 March 2016. It had outperformed the market over the past one month till 23 February 2017, gaining 7.02% compared with the Sensexs 6.55% rise. The scrip had also outperformed the market over the past one quarter, advancing 13.2% as against the Sensexs 10.91% rise.

The small-cap company has equity capital of Rs 35.45 crore. Face value per share is Rs 2.

Gayatri Projects announced that its joint venture (JV) Sembcorp Gayatri Power has completed construction of its second 660-megawatts (MW) thermal power plant, marking the creation of 2,640 MW power complex.

The first unit of the 660 MW was completed in November 2016. The power plant, located in Krishnapatnam in Andhra Pradeshs SPSR Nellore District, utilises supercritical technology that allows for enhanced efficiency and reduced emissions.

Sembcorp Gayatri Power is a JV between Sembcorp Utilities, a subsidiary of Sembcorp Industries and NCC Infrastructure Holdings, which is promoted by NCC and Gayatri Energy Ventures, a wholly-owned subsidiary of Gayatri Projects.

Sembcorp Industries is a leading energy, water and marine group operating across five continents worldwide.

Gayatri Projects net profit rose 16.4% to Rs 14.16 crore on 23.4% growth in net sales to Rs 518.95 crore in Q3 December 2016 over Q3 December 2015.

Gayatri Projects in a Hyderabad-based infrastructure and construction company specializing in road, irrigation, power transmission and industrial projects with a pan India presence.

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Lakshmi Vilas Bank advances after large bulk deal
Feb 27,2017

Meanwhile, the S&P BSE Sensex was up 5.82 points, or 0.02%, to 28,898.79.

Bulk deal boosted volume on the scrip. On the BSE, 39.94 lakh shares were traded on the counter so far as against the average daily volumes of 1.32 lakh shares in the past one quarter. The stock had hit a high of Rs 165 and a low of Rs 156.60 so far during the day.

The stock had hit a record high of Rs 168.70 on 23 September 2016 and a 52-week low of Rs 77.95 on 4 May 2016. The stock had outperformed the market over the past one month till 23 February 2017, advancing 13.91% compared with the Sensexs 6.55% rise. The scrip had also outperformed the market over the past one quarter advancing 14.28% as against the Sensexs 10.91% rise.

The mid-cap bank has equity capital of Rs 191.45 crore. Face value per share is Rs 10.

Lakshmi Vilas Banks net profit rose 70.1% to Rs 78.38 crore on 21.6% growth in total income of Rs 879.26 crore in Q3 December 2016 over Q3 December 2015.

Lakshmi Vilas Bank provides a variety of services, including corporate banking, commercial & personal banking, retail banking, NRI services, insurance and development banking through a network of branches.

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TCS edges higher after winning contract
Feb 27,2017

The announcement was made after market hours on Thursday, 23 February 2017.

Meanwhile, the S&P BSE Sensex was up 17.39 points or 0.06% at 28,910.36.

On the BSE, 15,332 shares were traded on the counter so far as against the average daily volumes of 1 lakh shares in the past one quarter. The stock had hit a high of Rs 2,497 and a low of Rs 2,473.05 so far during the day. The stock had hit a 52-week high of Rs 2,740 on 16 August 2016 and a 52-week low of Rs 2,054.70 on 15 November 2016.

The stock had outperformed the market over the past one month till 23 February 2017, advancing 7.63% compared with the Sensexs 6.55% rise. The scrip had also outperformed the market over the past one quarter, gaining 15.07% as against the Sensexs 10.91% rise.

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

TCS announced that Community Savings Bank Association (CSBA) has selected TCS BaNCS on the Cloud as the core banking solution for its member banks across the entire United Kingdom. CSBA is a co-operative society.

The vision of CSBA is to have a local network of customer owned, regional banks that create and support wealth creation in local communities. TCS BaNCS on the Cloud is a digital banking solution designed to meet the market requirements in the UK.

On a consolidated basis, TCS net profit rose 3.20% to Rs 6814 crore on 1.54% increase in net sales to Rs 29735 crore in Q3 December 2016 over Q2 September 2016.

TCS is an IT services, consulting and business solutions organization.

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RIL jumps on reports of brokerage upgrade
Feb 27,2017

Meanwhile, the S&P BSE Sensex was almost unchanged at 28,894.39.

On the BSE, 7.43 lakh shares were traded on the counter so far as against the average daily volumes of 3.42 lakh shares in the past one quarter. The stock had hit a high of Rs 1,256.50 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 1,187 so far during the day.

The stock had hit a 52-week low of Rs 925.70 on 23 May 2016. It had outperformed the market over the past one month till 23 February 2017, gaining 16.4% compared with the Sensexs 6.55% rise. The scrip had also outperformed the market over the past one quarter, advancing 17.41% as against the Sensexs 10.91% rise.

The large-cap company has equity capital of Rs 3243.86 crore. Face value per share is Rs 10.

The target price of Rs 1,506 per share is at a premium of 21.1% over the stocks ruling market price.

Shares of Reliance Industries (RIL) had rallied 10.97% in a single trading session on 22 February 2017, amid investors expectations of revenue generation from its telecom subsidiary Reliance Jio Infocomm (RJIL) starting from 1 April 2017. RIL at the fag end of market hours on 21 February 2017 said that it has breached the 100 million customer mark in 170 days.

RJIL announced that in addition to its own market leading tariff plans, it will also offer its customers the option to choose the highest selling tariff plan of any of the other leading Indian telecom operators, but with 20% more data than what any other operator provides.

RJIL had said that the existing 100 million plus Jio subscribers can avail of the special Jio Prime Membership programme which comes with several special benefits. The Jio Prime Membership is available only for existing Jio customers and the enrolment window will remain open from 1-31 March 2017.

RILs consolidated net profit rose 3.6% to Rs 7506 crore on 17.6% growth in net sales to Rs 79408 crore in Q3 December 2016 over Q3 December 2015.

Reliance Industries (RIL) is Indias largest private sector company. RILs activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and telecommunications.

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GMR Infra jumps after completing strategic debt restructuring of subsidiary
Feb 27,2017

The announcement was made before market hours today, 27 February 2017.

Meanwhile, the BSE Sensex was up 38.64 points, or 0.13%, to 28,931.61.

On the BSE, 12.68 lakh shares were traded in the counter so far, compared with average daily volume of 10.41 lakh shares in the past one quarter. The stock had hit a high of Rs 15.95 in intraday trade, which is also a 52-week high for the stock. The stock had hit a low of Rs 14.91 so far during the day. The stock had hit a 52-week low of Rs 10.25 on 9 November 2016.

The stock had outperformed the market over the past one month till 23 February 2017, advancing 17.72% compared with the Sensexs 6.55% rise. The scrip had also outperformed the market over the past one quarter, gaining 32.74% as against the Sensexs 10.91% rise.

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

GMR Chhattisgarh Energy (GCEL), a subsidiary of GMR Infrastructure (GIL) has announced that the consortium of lenders of GCEL have adopted strategic debt restructuring plan (SDR), as provided under the scheme permitted by the Reserve Bank of India (RBI). Accordingly, GCEL has allotted equity shares to all the lenders.

As per the SDR scheme, out of the total outstanding debt (including accrued interest) of Rs 8800 crore, debt to the extent of Rs 2992 crore has been converted into equity by which the consortium lenders would have 52.4% shareholding and balance 47.6% would be held by GMR.

Post the conversion, the balance project debt stands at Rs 5800 crore with Rs 2992 crore equity held by lenders and Rs 2721 crore equity held by GMR Group, resulting in the debt-to-equity ratio of 1.0x. The lower debt levels would result in improving the long term viability of the project.

GCEL is a 1,370 megawatts (MW) (2x685 MW) coal based power plant at Tilda, Raipur, Chhattisgarh. The project was fully commissioned in March 2016 and has long term fuel security in the form of two captive coal blocks. The plant is currently operating under short term power purchase agreements (PPAs) through exchange and bilateral routes.

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

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Castex Technologies jumps after boards nod for debt restructuring
Feb 27,2017

The announcement was made on Saturday, 25 February 2017.

Meanwhile, the S&P BSE Sensex was up 36.05 points or 0.12% at 28,929.02.

On the BSE, 6.30 lakh shares were traded on the counter so far as against the average daily volumes of 3.14 lakh shares in the past one quarter. The stock had hit a high of Rs 9.98 and a low of Rs 9.21 so far during the day.

The stock had hit a 52-week high of Rs 16.87 on 27 July 2016 and a 52-week low of Rs 4.77 on 8 April 2016. It had outperformed the market over the past one month till 23 February 2017, surging 10.86% compared with the Sensexs 6.55% rise. The scrip had also outperformed the market over the past one quarter, advancing 20.38% as against the Sensexs 10.91% rise.

The small-cap company has equity capital of Rs 75.62 crore. Face value per share is Rs 2.

Castex Technologies board at its meeting held on Saturday, 25 February 2017, approved the issuance of 3.9 crore equity shares of Rs 2 each at a premium of Rs 13 each aggregating to Rs 58.50 crore by way of preferential issue to promoters of the company upon conversion of their outstanding unsecured loans to the company.

The board also approved to issue upto 4 crore convertible warrants worth at a price of Rs 15 each aggregating to Rs 60 crore convertible into equal number of equity shares of Rs 2 each at a premium of Rs 13 each by way of preferential issue to promoters of the company upon conversion of their outstanding unsecured loans to the company.

The aforesaid proposals, if approved by the lenders, will lead to the change in the capital structure of the company resulting in significant dilution to the stake held by the existing promoters of the company. This will also lead to the change in control and management of the company.

Promoters held 46.86% stake in Castex Technologies end December 2016.

Castex Technologies reported a net loss of Rs 132.68 crore in the quarter ended December 2016, compared with net loss of Rs 141.30 crore in the quarter ended December 2015. Net sales declined 33.7% to Rs 338.08 crore in the quarter ended December 2016 over the quarter ended December 2015.

Castex Technologies (formerly known as Amtek India) is a leading provider of iron cast automotive components in India.

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Eveready Industries moves higher after commencing operation at Assam plant
Feb 27,2017

The announcement was made on Friday, 24 February 2017, when the stock markets had remained closed on account of local holiday.

Meanwhile, the S&P BSE Sensex was up 20.89 points, or 0.07%, to 28,913.86.

On the BSE, 3,350 shares were traded on the counter so far as against the average daily volumes of 8,607 shares in the past one quarter. The stock had hit a high of Rs 256 and a low of Rs 251.50 so far during the day.

The stock had hit a 52-week high of Rs 291 on 30 August 2016 and a 52-week low of Rs 190 on 29 December 2016. The stock had underperformed the market over the past one month till 23 February 2017, advancing 5.09% compared with the Sensexs 6.55% rise. The scrip had, however, outperformed the market over the past one quarter advancing 14.9% as against the Sensexs 10.91% rise.

The small-cap company has equity capital of Rs 36.34 crore. Face value per share is Rs 5.

Eveready Industries India announced that the company has on 23 February 2017 commenced commercial production with a capacity of 500 million of batteries and 9 million LED flashlights per annum at its new unit at Industrial Growth Centre, Assam.

Eveready Industries India net profit rose 65.4% to Rs 35.19 crore on 1.7% increase in net sales to Rs 329.31 crore in Q3 December 2016 over Q3 December 2015.

Eveready Industries India is the market leader of dry cell batteries. Apart from dry cell batteries, the company is also the market leader in flashlights. Eveready also markets LED, CFL, GLS lamps & other lighting products and rechargeable lanterns & devices, and packet tea.

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Kothari Products advances after divesting entire stake in subsidiary
Feb 27,2017

The announcement was made on Saturday, 25 February 2017.

Meanwhile, the BSE Sensex was up 49.32 points, or 0.17%, to 28,942.29.

On the BSE, 80 shares were traded in the counter so far, compared with an average volume of 4,626 shares in the past two weeks. The stock had hit a high of Rs 184 and a low of Rs 181.50 so far during the day. The stock had hit a 52-week high of Rs 235.30 on 26 October 2016. The stock had hit a 52-week low of Rs 146 on 20 March 2016.

The stock had underperformed the market over the past one month till 23 February 2017, advancing 3.87% compared with the Sensexs 6.55% rise. The scrip had also underperformed the market over the past one quarter, gaining 10.09% as against the Sensexs 10.91% rise.

The small-cap company has equity capital of Rs 29.84 crore. Face value per share is Rs 10.

Kothari Products net profit fell 25.3% to Rs 10.68 crore on 14.7% rise in net sales to Rs 1098.64 crore in Q3 December 2016 over Q3 December 2015.

Kothari Products, a flagship company of Kothari Group was incorporated on 17th September 1983 and has presence in real estate, investments and international trading of exports & imports.

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ONGC nudges higher on boards nod for investment in projects
Feb 27,2017

The announcement was made after market hours on Thursday, 23 February 2017. The stock market was shut on Friday, 24 February 2017 due to Mahashivratri holiday.

Meanwhile, the S&P BSE Sensex was up 52.64 points or 0.18% at 28,945.61.

On the BSE, 1.13 lakh shares were traded on the counter so far as against the average daily volumes of 7.10 lakh shares in the past one quarter. The stock had hit a high of Rs 197.95 and a low of Rs 196.30 so far during the day.

The stock had hit a 52-week high of Rs 212 on 31 January 2017 and a 52-week low of Rs 125.73 on 1 March 2016. The stock had underperformed the market over the past one month till 23 February 2017, sliding 2.08% compared with the Sensexs 6.55% rise. The scrip had also underperformed the market over the past one quarter, advancing 5.04% as against the Sensexs 10.91% rise.

The large-cap company has equity capital of Rs 6416.62 crore. Face value per share is Rs 5.

ONGC announced that its board approved development of five projects with an investment of Rs 7327 crore which will lead to production of 14.97 million metric tonnes (MMT) of oil and 2.97 billion cubic metres (BCM) of gas. ONGC has notified 18 discoveries so far in the financial year (FY) 2017.

In order to settle the long pending Gujarat and Assam royalty issue, an understanding has been reached on 17 February 2017 between Ministry of Petroleum and Natural Gas (MOP&NG), government of Gujarat/Assam and ONGC wherein it has been agreed that the outstanding amount towards differential royalty would be paid by the Government of India (GoI) directly to the governments of Gujarat and Assam. Payments already made to the state governments by ONGC based on interim Supreme Court (SC) orders (Rs 2562 crore) shall be adjusted in the accounts as expenditure.

Based on this settlement, SC has disposed off the case on 20 February 2017 and it has absolved the company of outstanding royalty demand by government of Gujarat and Assam amounting to Rs 9796 crore and potential interest claim of Rs 2868 crore.

Further, ONGCs board has approved execution of farm-in/farm-out agreement with Gujarat State Petroleum Corporation (GSPC) in respect of acquisition of 80% participative interest (PI) and operatorship in the NELP-III block KG-OSN-2001/3.

ONGCs net profit surged 196.9% to Rs 4352.33 crore on 9.2% growth in net sales to Rs 19933.78 crore in Q3 December 2016 over Q3 December 2015.

ONGC is Indias largest oil and gas exploration firm by sales. The Government of India held 68.93% stake in ONGC as per the shareholding pattern as on 31 December 2016.

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L&T gains after subsidiary wins contract
Feb 27,2017

The announcement was made on Saturday, 25 February 2017.

Meanwhile, the S&P BSE Sensex was up 18.72 points or 0.06% at 28,911.69.

On the BSE, 5,411 shares were traded on the counter so far as against the average daily volumes of 1.08 lakh shares in the past one quarter. The stock had hit high of Rs 1,499 and low of Rs 1,488 so far during the day.

The large-cap company has equity capital of Rs 186.59 crore. Face value per share is Rs 2.

L&T announced that its wholly owned subsidiary L&T Hydrocarbon Engineering (LTHE) has bagged an onshore engineering, procurement and construction (EPC) contract worth around Rs 1100 crore from Indian Oil Corporation (IOCL) for setting up a 0.740 million metric tonne per annum (MMTPA) fluidised cracking unit (FCC) including LPG treatment facility at its Bongaigaon refinery, Assam.

L&Ts consolidated net profit rose 38.9% to Rs 972.47 crore on 1.7% growth in net sales to Rs 26018.15 crore in Q3 December 2016 over Q3 December 2015.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.

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Jyothy Laboratories jumps on reports Henkel AG may buy stake
Feb 23,2017

Meanwhile, the BSE Sensex was up 14.06 points, or 0.05%, to 28,878.77.

On the BSE, so far 29,000 shares were traded in the counter, compared with average daily volumes of 8,463 shares in the past one quarter. The stock hit a high of Rs 382.85 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 351.35 so far during the day. The stock hit a 52-week low of Rs 252.60 on 26 February 2016.

The mid-cap company has equity capital of Rs 18.17 crore. Face value per share is Re 1.

According to media reports, Jyothy Laboratories and Henkel AG & Co have to reach an agreement before the end of this fiscal as part of the 2011 deal when Jyothy Laboratories had acquired a majority stake in Henkel Indias consumer business.

Jyothy Laboratories, however, clarified to the bourses during trading hours today, 23 February 2017, that Henkel AG had an option to acquire upto 26% of equity share capital of Jyothy Laboratories through primary and/or secondary transactions, after a period of five years, subject to terms and conditions to be mutually agreed and the company has entered into confidentiality agreement with Henkel AG in this regard. Henkel AGs option to acquire 26% stake in Jyothy Laboratories will expire on 31 March 2017.

In May 2011, Jyothy Laboratories agreed to buy 51% of Henkel India stake from Henkel AG for Rs 118.72 crore. Jyothy Laboratories had offered Henkel AG the option to buy up to 26% stake in the company either through purchase of equity or through issue of shares.

If Henkel AG does buy more than 26% stake in Jyothy Laboratories, it will trigger an open offer to comply with the takeover code of the the Securities and Exchange Board of India. The open offer gives the acquirer a chance to buy up to another 20% from public shareholders. If this deal goes through, Jyothy Laboratories will get an access to more products and brands which Hekel AG owns internationally. The German company has over 100 consumer brands in its portfolio, includes Persil, Schwarzkopf, Dynamo and Persil, media reports added.

As on 31 December 2016, the promoters owned 66.92% stake in Jyothy Laboratories and the remaining 33.08% was held by public shareholders, including 24.17% by institutions.

On a consolidated basis, net profit of Jyothy Laboratories rose 6.59% to Rs 21.51 crore on 3.31% rise in net sales to Rs 383.39 crore in Q3 December 2016 over Q3 December 2015.

Jyothy Laboratories is a fast moving consumer goods company. It is involved in the manufacturing and marketing of products in fabric care, mosquito repellant, surface cleaning and personal care products. The company boasts of power brands like Ujala, Maxo, Exo, Henko, Pril, and Margo.

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RIL reverses direction after hitting almost eight year high
Feb 23,2017

Meanwhile, the S&P BSE Sensex was up 158.37 points or 0.55% at 29,023.08.

High volumes were witnessed on the counter. On the BSE, 9.12 lakh shares were traded on the counter so far as against the average daily volumes of 3.27 lakh shares in the past one quarter. The stock had hit a high of Rs 1,222.30 so far during the day, which is the highest level since 19 May 2009 for the counter. The stock had hit a low of Rs 1,180.20 so far during the day. The stock had hit a 52-week low of Rs 925.70 on 23 May 2016.

Reliance Industries (RIL) counter had risen 12.47% in two sessions to settle at Rs 1,207.65 on 22 February 2017, from a close of Rs 1,073.70 on 20 February 2017, triggered by the company announcing that Reliance Jio Infocomm has breached the 100 million customer mark in 170 days. The announcement was made at the fag end of market hours on 21 February 2017.

Reliance Industries (RIL) on 21 February 2017, had said that its subsidiary Reliance Jio Infocomm (RJIL) has breached the 100 million customer mark in 170 days. Jio announced that in addition to its own market leading tariff plans, it will also offer its customers the option to choose the highest selling tariff plan of any of the other leading Indian telecom operators, but with 20% more data than what any other operator provides.

As a token of its gratitude, the existing 100 million plus Jio subscribers can avail of the special Jio Prime Membership programme which comes with several special benefits. First, Jio Prime Members will be able to enjoy the unlimited benefits of the existing Jio Happy New Offer for another full year or till 31 March 2018 for a nominal, one-time enrolment fee of just Rs 99 and a rock-bottom introductory price of only Rs 303 per month or effectively at just Rs 10 per day.

Second, the programme will enable Jio Prime Members to enjoy the full bouquet of Jios applications absolutely free till 31 March 2018. This translates to additional benefit worth over Rs 10,000 for the Jio Prime Members. In addition, there will be many other attractive deals and offers from both Jio and its partners that the Jio Prime Members will enjoy under this programme.

The Jio Prime Membership is available only for existing Jio customers and the enrolment window will remain open from 1-31 March, 2017.

RILs consolidated net profit rose 3.6% to Rs 7506 crore on 17.6% growth in net sales to Rs 79408 crore in Q3 December 2016 over Q3 December 2015.

Reliance Industries (RIL) is Indias largest private sector company. RILs activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and telecommunications.

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