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ITC gains after hiking prices of select brands
Jul 24,2017

Meanwhile, the S&P BSE Sensex was up 218.07 points or 0.68% at 32,246.96

On the BSE, 7.19 lakh shares were traded on the counter so far as against the average daily volumes of 12.90 lakh shares in the past one quarter. The stock had hit a high of Rs 295.35 and a low of Rs 288.35 so far during the day. The stock had hit a record high of Rs 353.20 on 3 July 2017. The stock had hit a 52-week low of Rs 222.05 on 26 December 2016.

The stock had underperformed the market over the past one month till 21 July 2017, sliding 7.15% compared with 2.38% rise in the Sensex. The scrip also underperformed the market in past one quarter, rising 5.16% as against Sensexs 9.07% rise. The scrip, however, outperformed the market in past one year, gaining 15.61% as against Sensexs 15.58% rise.

The large-cap company has equity capital of Rs 1216.18 crore. Face value per share is Rs 1.

ITC has reportedly increased cigarette prices of its three brands effective 18 July 2017. It has hiked Gold Flake Kings and Classic Rich prices to Rs 300 per 20 pack each while Navy Cut Filter price increased to Rs 188 per 20 pack, reports suggested.

It may be recalled that the Goods & Services Tax (GST) Council in its meet on 17 July 2017, reviewed the compensation cess rates on cigarettes and recommended the increase in the same with effect from 18 July 2017. For non filter cigarettes hike in cess ranged from Rs 485 to Rs 792 per thousand cigarettes while for filter cigarettes increase was in the range of Rs 485 to Rs 792 per thousand cigarettes.

ITCs net profit rose 12.13% to Rs 2669.47 crore on 14.03% growth in net sales to Rs 11125.54 crore in Q4 March 2017 over Q4 March 2016.

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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Volumes jump at Thirumalai Chemicals counter
Jul 24,2017

Thirumalai Chemicals clocked volume of 1.09 lakh shares by 12:30 IST on BSE, a 6.8-times surge over two-week average daily volume of 16,000 shares. The stock surged 12.03% at Rs 1,190.

Videocon Industries notched up volume of 47.22 lakh shares, a 5.69-fold surge over two-week average daily volume of 8.3 lakh shares. The stock advanced 1.34% at Rs 26.40.

Jaiprakash Power Ventures saw volume of 85.91 lakh shares, a 4.57-fold surge over two-week average daily volume of 18.81 lakh shares. The stock jumped 9.85% at Rs 6.52.

Man Infraconstruction clocked volume of 22.54 lakh shares, a 4.51-fold surge over two-week average daily volume of 5 lakh shares. The stock surged 6.91% at Rs 69.65.

Aksh Optifibre saw volume of 27.86 lakh shares, a 3-fold rise over two-week average daily volume of 9.29 lakh shares. The stock galloped 10.78% at Rs 27.75.

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Lyka Labs declines after recent sharp rally
Jul 24,2017

Meanwhile, the S&P BSE Sensex was up 191.53 points, or 0.6% at 32,220.42. The S&P BSE Small-Cap index was up 100.21 points, or 0.63% at 16,092.84.

On the BSE, 68,000 shares were traded on the counter so far as against the average daily volumes of 70,000 shares in the past two weeks. The stock had hit a high of Rs 62.70 and a low of Rs 59.20 so far during the day.

Shares of Lyka Labs had rallied 32% in the preceding seven trading sessions to settle at Rs 61.25 on Friday, 21 July 2017, from its close of Rs 46.40 on 12 July 2017.

Lyka Labs reported consolidated net profit of Rs 1.84 crore in Q4 March 2017, compared with net loss of Rs 11.99 crore in Q4 March 2016. Net sales fell 11.6% to Rs 30.60 crore in Q4 March 2017 over Q4 March 2016.

Lyka Labs is engaged in the manufacturing of pharmaceutical formulations and active pharmaceutical ingredients (APIs) across various therapeutic segments.

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Speciality Restaurants gets tastier after opening new restaurant
Jul 24,2017

The announcement was made on Saturday, 22 July 2017.

Meanwhile, the S&P BSE Sensex was up 191.35 points or 0.6% at 32,220.24. The S&P BSE Small-Cap index advanced 102.14 points or 0.64% at 16,094.77.

On the BSE, 1,801 shares were traded on the counter so far as against the average daily volumes of 42,922 shares in the past one quarter. The stock had hit a high of Rs 116.25 and a low of Rs 111.05 so far during the day. The stock had hit a 52-week high of Rs 124.65 on 7 July 2017 and a record low of Rs 59.50 on 15 March 2017.

The stock had outperformed the market over the past one month till 21 July 2017, gaining 35.3% compared with 2.38% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 26.42% as against Sensexs 9.07% rise. The scrip had also outperformed the market in past one year, gaining 21.36% as against Sensexs 15.58% rise.

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

Speciality Restaurants said that as continuation of determination to dominate in Chinese and Pan Asian Market in India, the company has given birth to a new boutique oriental restaurant called POH (Progressive Oriental House).

The restaurant at Kamala Mills, Mumbai is targeted towards crn++me de la crn++me and high networth individuals (HNIs), who are looking for newer flavours and experience.

Speciality Restaurants reported net loss of Rs 9.71 crore in Q4 March 2017, higher than net loss of Rs 4.03 crore in Q4 March 2016. Net sales declined 8% to Rs 69.49 crore in Q4 March 2017 over Q4 March 2016.

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

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Tata Sponge Iron shines after robust Q1 result
Jul 24,2017

The result was announced after market hours on Friday, 21 July 2017.

Meanwhile, the S&P BSE Sensex was up 187.71 points or 0.59% at 32,216.60. The S&P BSE Small-Cap index was up 92.31 points or 0.58% at 16,084.94.

On the BSE, 68,000 shares were traded on the counter so far as against the average daily volumes of 44,452 shares in the past one quarter. The stock hit a high of Rs 894.70 and a low of Rs 836.80 so far during the day. The stock had hit a 52-week high of Rs 900 on 10 May 2017 and a 52-week low of Rs 474.95 on 9 November 2016.

The stock had outperformed the market over the past one month till 21 July 2017, gaining 4.96% compared with 2.38% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, rising 4.86% as against Sensexs 9.07% rise. The scrip, however, outperformed the market in past one year, gaining 33.16% as against Sensexs 15.58% rise.

The small-cap company has equity capital of Rs 15.40 crore. Face value per share is Rs 10.

Tata Sponge Iron said that the companys board of directors accorded their in principle approval for setting a steel plant of capacity upto 1.5 MTPA, in phases at Beleipada, Keonjhar District, Odisha, subject to the evaluation of financial viability of the project.

Tata Sponge Iron is a sponge iron manufacturer. Tata Steel is the promoter of Tata Sponge Iron. Tata Steel owned 54.5% stake in the company as on 30 June 2017.

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IIFL Holdings gains strength on strong Q1 results
Jul 24,2017

The company announced its results on Saturday, 22 July 2017.

Meanwhile, the S&P BSE Sensex was up 188.65 points, or 0.6%, to 32,222.62.

On the BSE, 37,573 shares were traded in the counter so far, compared with average daily volume of 93,432 shares in the past one quarter. The stock had hit a high of Rs 617 and a low of Rs 596.75 so far during the day. The stock had hit a record high of Rs 629 on 7 June 2016. The stock had hit a 52-week low of Rs 229 on 15 November 2016.

The stock had underperformed the market over the past one month till 21 July 2017, falling 3.29% compared with 2.38% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 25.92% as against Sensexs 9.07% rise. The scrip had also outperformed the market in past one year, jumping 144.42% as against Sensexs 15.58% rise.

The large-cap company has equity capital of Rs 63.59 crore. Face value per share is Rs 2.

IIFL Holdings loan assets under management of non banking financial company business rose 26% to Rs 23330 crore in Q1 June 2017 over Q1 June 2016. Wealth assets jumped 60% to Rs 126908 crore as at 30 June 2017 over the same period last year.

Nirmal Jain, Chairman, IIFL Holdings said that in Q1 June 2017, all the companys businesses have grown well. Successful implementation of major reforms like GST and the Real Estate (Regulation and Development) Act, 2016 (RERA) has buoyed the confidence of investors, foreign and domestic alike.

Wealth management business is going from strength to strength and loan book also has seen robust growth, while maintaining high quality. The company looks forward to the rest of year with a renewed optimism, he added.

IIFL Holdings is the apex holding company of the entire IIFL Group. It offers a gamut of services including financing, wealth and asset management, broking, financial product distribution, investment banking, institutional equities, realty and property advisory services through its various subsidiaries.

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Welspun Corp hits 52-week high on recent rally
Jul 24,2017

Meanwhile, the S&P BSE Sensex was up 190.65 points, or 0.6% at 32,219.54. The S&P BSE Mid-Cap index was up 63.49 points, or 0.42% at 15,249.02.

On the BSE, 3.93 lakh shares were traded on the counter so far as against the average daily volumes of 3.46 lakh shares in the past one quarter. The stock had hit a high of Rs 132.50 so far during the day, which is also its 52-week high. The stock hit a low of Rs 125.10 so far during the day. The stock had hit a 52-week low of Rs 56 on 9 November 2016.

The stock had outperformed the market over the past one month till 21 July 2017, advancing 23.32% compared with the Sensexs 2.38% rise. The scrip had also outperformed the market over the past one quarter gaining 47.31% as against the Sensexs 9.07% rise. The scrip had also outperformed the market over the past one year advancing 38.6% as against the Sensexs 15.58% rise.

The mid-cap company has equity capital of Rs 132.61 crore. Face value per share is Rs 5.

Shares of Welspun Corp rose 23.23% in seven trading sessions to its current market price of Rs 131.55, from a close of Rs 106.75 on 13 July 2017.

Welspun Corp said after market hours on Thursday, 20 July 2017 that it has secured orders from a customer in India for supply of 100K metric tons (MTs) pipes for water projects in India. With these latest orders, the companys order book crossed 699K MTs worth Rs 4200 crore.

Welspun Corps consolidated net profit spurted 425.2% to Rs 68.59 crore on 2.1% growth in net sales to Rs 1922.18 crore in Q4 March 2017 over Q4 March2016.

Welspun Corp is a welded line pipe manufacturing company engaged in offering solution in line pipes with a capacity to manufacture longitudinal submerge-arc welded (LSAW), spiral helical submerged arc welded (HSAW) and high frequency electric resistance welded (HFERW)/high frequency induction (HFI) electrical resistance welded (ERW) pipes.

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MRPL declines after posting disappointing Q1 numbers
Jul 24,2017

The result was announced after market hours on Friday, 21 July 2017.

Meanwhile, the S&P BSE Sensex was up 174.67 points, or 0.55% at 32,203.56.

High volumes were witnessed on the counter. On the BSE, 3.88 lakh shares were traded on the counter so far as against the average daily volumes of 2.87 lakh shares in the past one quarter. The stock had hit a high of Rs 123.80 and a low of Rs 117.90 so far during the day. The stock had hit a 52-week high of Rs 142.75 on 18 May 2017 and a 52-week low of Rs 74.40 on 12 August 2017.

The stock had underperformed the market over the past one month till 21 July 2017, gaining 1.98% compared with 2.38% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 2.26% as against Sensexs 9.07% rise. The scrip had, however, outperformed the market in past one year, gaining 58.32% as against Sensexs 15.58% rise.

The large-cap company has equity capital of Rs 1,752.60 crore. Face value per share is Rs 10.

Mangalore Refinery and Petrochemicals (MRPL) increase in revenue was mainly on account of increase in the product prices in Q1 June 2017. The percentage of dispatches for export sales to total sales has decreased due to more domestic off take.

The decrease in profit was on account of reduction in prices of crude oil and finished products, which has resulted in inventory loss of Rs 438 crore in Q1 June 2017, compared to inventory gain of Rs 859 crore in Q1 June 2016.

The gross refining margin (GRM) has fallen to $4.74 per barrel in Q1 June 2017 from GRM of $10.01 per barrel in Q1 June 2016.

Mangalore Refinery and Petrochemicals is a subsidiary of ONGC with ONGC holding 71.63% stake in the firm (as per the shareholding pattern as on 30 June 2017). The company operates in the petroleum sector.

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Divis Labs drops on dismal Q1 results
Jul 24,2017

The result was announced on Saturday, 22 July 2017.

Meanwhile, the S&P BSE Sensex was up 144.53 points, or 0.47% to 32,179.92.

On the BSE, 1.05 lakh shares were traded in the counter so far, compared with average daily volumes of 2.49 lakh shares in the past one quarter. The stock had hit a high of Rs 699.75 and a low of Rs 680.35 so far during the day. The stock had hit a record high of Rs 1,380 on 16 September 2016. The stock had hit a 52-week low of Rs 533.10 on 29 May 2017.

The stock has dropped 8.62% in three sessions to its current price, from a close of Rs 754.80 on 19 July 2017.

The stock had outperformed the market over the past one month till 21 July 2017, gaining 11.88% compared with 2.38% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 14.21% as against Sensexs 9.07% rise. The scrip had, however, underperformed the market in past one year, falling 39.05% as against Sensexs 15.58% rise.

The large-cap company has equity capital of Rs 53.09 crore. Face value per share is Rs 2.

Divis Laboratories revenue in Q1 has been impacted due to the time required for setting up protocols and procedures for release of export shipments as stipulated in the import alert by the US drug regulator. This has since been established and shipments for the exempted products are being done as per the protocols.

Divis Laboratories is primarily engaged in the manufacture of active pharmaceutical ingredients (APIs) & intermediates for generics; custom synthesis of APIs and advanced intermediates for discovery compounds for pharma giants; building blocks for peptides; building blocks for nucleotides; carotenoids; and chiral ligands.

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Avenue Supermarts attracts shoppers after strong Q1 outcome
Jul 24,2017

The result was announced on Saturday, 22 July 2017.

Meanwhile, the S&P BSE Sensex was up 85.52 points or 0.27% at 32,114.41

On the BSE, 1.17 lakh shares were traded in the counter so far, compared with average daily volumes of 2.31 lakh shares in the past one quarter. The stock hit a high of Rs 964.25 in intraday trade so far, which is a record high for the counter. The stock had hit a low of Rs 930.25 so far during the day. The stock hit a record low of Rs 558.75 on 21 March 2017.

The large-cap company has equity capital of Rs 624.08 crore. Face value per share is Rs 10.

Avenue Supermarts companys earnings before interest, taxation, depreciation and amortization (EBITDA) rose 29.2% to Rs 303 crore in Q1 June 2017 over Q1 June 2016. EBITDA margin fell to 8.4% in Q1 June 2017 from 8.8% in Q1 June 2016.

Avenue Supermarts said that the company follows everyday low cost - everyday low price (EDLC-EDLP) strategy which aims at procuring goods at competitive price, using operational and distribution efficiency and thereby delivering value for money to customers by selling at competitive prices.

Shares of Avenue Supermarts had debuted at Rs 604.40 on BSE, a premium of 102.14% to the initial public offer (IPO) price of Rs 299 per share on 21 March 2017. The stock had settled at Rs 640.75 on that day, a premium of 114.29% over its IPO price.

The IPO of Avenue Supermarts closed with strong response from investors. The IPO received bids for 464.08 crore shares compared with 4.43 crore shares on offer. The IPO was subscribed 104.59 times. The issue opened for bidding on 8 March 2017 and closed on 10 March 2017.

Avenue Supermarts is a Mumbai-based company, which owns and operates D-Mart stores. D-Mart is an emerging national supermarket chain that offers customers a range of home and personal products under one roof. The company offers a wide range of products with a focus on Foods, Non-Foods (FMCG) and General Merchandise & Apparel product categories. As of 30 June 2017, the company had 132 stores with Retail Business Area of 4.1 million sq.ft. across Maharashtra, Gujarat, Andhra Pradesh, Karnataka, Telangana, Tamil Nadu, Madhya Pradesh, Rajasthan, NCR, Chhattisgarh and Punjab.

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Lupin gains as Goa facility clears US FDA inspection
Jul 24,2017

The announcement was made after market hours on Friday, 21 July 2017.

Meanwhile, the S&P BSE Sensex was up 90.04 points or 0.28% at 32,118.93.

On the BSE, 30,000 shares were traded on the counter so far as against the average daily volumes of 1.54 lakh shares in the past one quarter. The stock had hit a high of Rs 1,174.85 and a low of Rs 1,152.20 so far during the day. The stock had hit a 52-week high of Rs 1,750 on 29 July 2016 and a 52-week low of Rs 1,036.80 on 5 July 2017.

The large-cap company has equity capital of Rs 90.34 crore. Face value per share is Rs 2.

Lupin announced the successful completion of a PAI inspection (Prior Approval Inspection) carried out by the United States Food and Drug Administration (USFDA) at its Goa manufacturing facility without any observations. The inspection which started on Monday, 17 July 2017 was concluded by afternoon Friday, 21 July 2017, Lupin said.

On consolidated basis, Lupins net profit fell 49.16% to Rs 380.21 crore on 1.29% growth in net sales to Rs 4161.88 crore in Q4 March 2017 over Q4 March 2016.

Lupin is a transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally.

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Tinplate surges after stellar Q1 earnings
Jul 21,2017

The result was announced during market hours today, 21 July 2017.

Meanwhile, the S&P BSE Sensex was up 113.75 points or 0.36% at 32,018.15. The S&P BSE Small-Cap index rose 5.66 points or 0.04% at 16,005.54.

On the BSE, 19.96 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 149.90 so far during the day, which is a 52-week high. The stock hit a low of Rs 136.70 so far during the day. The stock had hit a 52-week low of Rs 64 on 9 November 2016.

The stock had outperformed the market over the past one month till 20 July 2017, advancing 49.06% compared with the Sensexs 1.94% rise. The stock had also outperformed the market over the past one quarter, gaining 58.91% as against the Sensexs 8.44% rise. The scrip had also outperformed the market over the past one year, advancing 41.22% as against the Sensexs 14.29% rise.

The small-cap company has equity capital of Rs 104.67 crore. Face value per share is Rs 10.

Tinplate Company of India is one of the leading indigenous producers of tin coated and tin free steel sheets in India.

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Rallis India drops after weak Q1 results
Jul 21,2017

The announcement was made after market hours yesterday, 20 July 2017.

Meanwhile, the S&P BSE Sensex was up 117.04 points or 0.37% at 32,021.44. The S&P BSE Mid-Cap index was up 9.67 points or 0.06% at 15,188.94.

On the BSE, 26,657 shares were traded in the counter so far as against average daily volume of 34,892 shares in the past one quarter. The stock had hit a high of Rs 241.80 and a low of Rs 236 so far during the day. The stock had hit a 52-week high of Rs 264.60 on 31 March 2017. The stock had hit a 52-week low of Rs 180.25 on 22 November 2016.

The stock had underperformed the market over the past one month till 20 July 2017, declining 0.47% compared with Sensexs 1.94% rise. The scrip had also underperformed the market in past one quarter, declining 5.12% as against Sensexs 8.44% rise. The scrip had, however, outperformed the market in past one year, jumping 15.54% as against Sensexs 14.29% rise.

The mid-cap company has equity capital of Rs 19.45 crore. Face value per share is Re 1.

ln the crop protection segment the company has witnessed destocking by dealers ahead of GST implementation and down trading by framers. Consequently placement was muted during Q1 compared to the regular scale, which has since picked up in July 2017.

The board approved the divestment of its entire shares comprising 1.82 crore share or 13.68% in Advinus Therapeutics to Eurofins Pharma Services Lux Holdings SARL for Rs 17.32 crore.

The board also approved the scheme of amalgamation for the merger of Zero Waste Agro-Organics Limited, wholly owned subsidiary of the company, with the company, subject to such approvals as may be required.

Zero Waste Agro-Organics is engaged in the business of manufacture of scientifically enriched organic compost. The scheme will help in achieving cost effectiveness, operational and management efficiency.

Rallis India is one of Indias leading agrochemicals companies.

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Atul slips after weak Q1 numbers
Jul 21,2017

The result was announced during market hours today, 21 July 2017.

Meanwhile, the S&P BSE Sensex was up 22.70 points, or 0.07% at 31,927.10. The S&P BSE Mid-Cap index was down 15.06 points, or 0.1% at 15,164.21.

On the BSE, 6,450 shares were traded on the counter so far as against the average daily volumes of 8,419 shares in the past one quarter. The stock had hit a high of Rs 2,408.55 and a low of Rs 2,275 so far during the day. The stock had hit a record high of Rs 2,588 on 16 May 2017 and a 52-week low of Rs 1,885 on 10 August 2016.

The stock had underperformed the market over the past one month till 20 July 2017, declining 3.41% compared with the Sensexs 1.94% rise. The scrip had also underperformed the market over the past one quarter sliding 1.52% as against the Sensexs 8.44% rise. The scrip had also underperformed the market over the past one year advancing 11.14% as against the Sensexs 14.29% rise.

The mid-cap company has equity capital of Rs 29.66 crore. Face value per share is Rs 10.

Atul is an integrated chemical company. The company operates through two segments: life science chemicals, and performance and other chemicals.

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RIL strengthens after board recommends 1:1 bonus issue
Jul 21,2017

The announcement was made during market hours today, 21 July 2017.

Meanwhile, the S&P BSE Sensex was up 14.40 points or 0.05% at 31,918.80.

High volumes were witnessed on the counter. On the BSE, 15.41 lakh shares were traded on the counter so far as against the average daily volumes of 3.94 lakh shares in the past one quarter. The stock had hit a high of Rs 1,588.20 in intraday trade, which is also a 52-week high for the stock. The stock had hit a low of Rs 1,544.40 so far during the day. The stock had hit a 52-week low of Rs 932 on 9 November 2016.

The stock had outperformed the market over the past one month till 20 July 2017, gaining 8.25% compared with Sensexs 1.94% rise. The scrip had also outperformed the market in past one quarter, rising 11.63% as against Sensexs 8.44% rise. The scrip had also outperformed the market in past one year, jumping 49.5% as against Sensexs 14.29% rise.

The large-cap company has equity capital of Rs 3251.74 crore. Face value per share is Rs 10.

Reliance Industries (RIL) consolidated net profit rose 28% to Rs 9108 crore on 26.7% rise in revenue to Rs 90537 crore in Q1 June 2017 over Q1 June 2016. The announcement was made after market hours yesterday, 20 July 2017.

Reliance Industries (RIL) increase in revenue is primarily on account of increase in prices and volumes of refining and petrochemical products partially offset by lower prices and volumes from exploration and production (E&P) business. Revenue was also boosted by robust growth in retail business which recorded a 73.6% increase in revenue to Rs 11571 crore. Reliance Retail witnessed growth across all consumption baskets during the quarter.

Strong refining and petrochemicals margin environment contributed to higher operating profits for the quarter. Gross refining margins recorded nine-year-high of $ 11.9 per bbl whereas petrochemicals EBIT (earnings before interest and depreciation) margin were at all-time high of 15.8%. Gross refining margin rose to $11.9 per barrel in Q1 June 2017 from $11.5 per barrel in Q1 June 2016.

Meanwhile, the board of directors of RIL considered and approved an investment in Balaji Telefilms (BTL), to acquire 2.52 crore equity shares constituting 24.92% of BTLs equity, through subscription to preferential issue of shares by BTL to RIL for cash consideration of Rs 164 per equity share amounting to an investment of Rs 413.28 crore. This investment in content production (including digital content) is in line with RILs commitment to invest and grow in telecom digital and media businesses.

BTL has launched a new digital platform, ALTBalaji (ALT), in April 2017, which has garnered over 3 million downloads and subscribers from over 75 countries since its launch. The transaction is subject to BTLs shareholder approval and regulatory compliances and other conditions precedent and is expected to be completed in 45 to 60 days.

Shares of Balaji Telefilms gained 1.02% to Rs 188.55.

The RILs board has also approved to set up and invest in a technology incubator by the name Jerusalem Innovation Incubator (JII), licensed by Israel Innovation Authority (IIA), Ministry of Economy, Israel, under competitive bidding process.

The investment in JII shall be done in partnership with OurCrowd, Motorola Solutions and Yissum. JII will be in the form of limited liability partnership with RIL holding 20% interest. OurCrowd will hold 60%, Motorola 20% and Yissum.

RIL proposes to invest upto $25 million in JII and in frontier technology start-ups in tranches, over a period of about 8 years.

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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