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ONGC gains as board to consider bonus issue proposal
Oct 24,2016

The announcement was made during market hours today, 24 October 2016.

Meanwhile, the BSE Sensex was up 157.83 points, or 0.56%, to 28,235.01

On BSE, so far 11.67 lakh shares were traded in the counter, compared with average daily volume of 6.48 lakh shares in the past one quarter. The stock hit a high of Rs 292.40 in intraday trade so far, which is 52-week high for the counter. The stock hit a low of Rs 278.60 so far during the day. The stock hit a 52-week low of Rs 188 on 12 February 2016. The stock had outperformed the market over the past 30 days till 21 October 2016, rising 7.92% compared with 2.42% decline in the Sensex. The scrip also outperformed the market in past one quarter, gaining 25.87% as against Sensexs 0.99% rise.

The large-cap company has equity capital of Rs 4,277.75 crore. Face value per share is Rs 5.

Meanwhile, in its clarification with respect to news titled, Bombay high court asks ONGC to release $20 million to Swiber, ONGC on Saturday, 22 October 2016 said that as per the current status the Bombay High Court decided on 18 October 2016 that parties are trying their best to arrive at an amicable settlement of their disputes. The parties are still trying to finalize the terms of the settlement and directed ONGC to release $11.1 million to the Judicial Manager, subject to a workable mechanism, so that this amount is utilized for the purpose of the project only and to deposit $8.44 million in the court before the next date of hearing on 26 October 2016.

The matter is in the normal execution of contract/project and the amount due and payable towards contract/project execution is to be deposited in the court and there is nothing material in the court decision. ONGC, Offshore Engineering Services had awarded three projects i.e. Daman Development Project, Pipeline Replacement Project-4 and C-26 Cluster Pipeline Project to Swiber Offshore Construction (SOC), Singapore a subsidiary of Swiber Holdings Pte Singapore.

ONGCs net profit declined 21.16% to Rs 4232.54 crore on 21.46% decline in net sales to Rs 17670.37 crore in Q1 June 2016 over Q1 June 2015.

ONGC is Indias largest oil and gas exploration firm by sales.

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Punj Lloyd advances as subsidiary divests three operating solar projects
Oct 24,2016

The announcement was made on Saturday, 22 October 2016.

Meanwhile, the BSE Sensex was up 117.82 points, or 0.42%, to 28,195

On BSE, so far 3.87 lakh shares were traded in the counter, compared with average daily volume of 8.35 lakh shares in the past one quarter. The stock hit a high of Rs 24.25 and a low of Rs 23.70 so far during the day. The stock hit a 52-week high of Rs 31.65 on 5 January 2016. The stock hit a record low of Rs 17.65 on 7 June 2016. The stock had underperformed the market over the past 30 days till 21 October 2016, falling 6.44% compared with 2.42% decline in the Sensex. The scrip, however, outperformed the market in past one quarter, gaining 11.51% as against Sensexs 0.99% rise.

The small-cap company has equity capital of Rs 66.42 crore. Face value per share is Rs 2.

Punj Lloyd said that the companys wholly owned subsidiary Punj Lloyd Infrastructure (PLIL) has executed definitive agreements with India Infrastructure Fund II (a Sebi registered category 1 alternative investment fund represented by its investment manager IDFC Alternatives) to divest three operating solar projects aggregating to 45 megawatts (MW) located in Punjab and Rajasthan subject to customary approvals and other conditions precedent.

As per the transaction, PLIL will divest its entire shareholding in its subsidiaries that hold the three projects. Punj Lloyd Solar Power (PLSPL) owns and operates a 5 MW solar power project selling power under a 25-year power purchase agreement with NTPC Vidyut Vyapar Nigam. PL Surya Urja (PLSUL) owns and operate a 20 MW solar power project selling power under a 25-year power purchase agreement with Punjab State Power Corporation and PL Sunshine (PLSL) owns and operate a 20 MW solar power project selling power under a 25-year power purchase agreement with Punjab State Power Corporation. The transaction is expected to be completed once customary closing conditions and approvals are obtained, Punj Lloyd said.

Punj Lloyd reported net loss of Rs 211.39 crore in Q1 June 2016, lower than net loss of Rs 581.84 crore in Q1 June 2015. Total income rose 45.5% to Rs 1010.17 crore in Q1 June 2016 over Q1 June 2015.

Punj Lloyd is a diversified international conglomerate offering engineering procurement construction (EPC) services in energy and infrastructure along with engineering and manufacturing capabilities in the defence sector.

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Akzo Nobel India slips on profit booking after declaring Q2 result
Oct 24,2016

The result was announced after market hours on Friday, 21 October 2016.

Meanwhile, the BSE Sensex was up 123.93 points, or 0.44%, to 28,201.11

On BSE, so far 1,811 shares were traded in the counter, compared with an average volume of 1,785 shares in the past one quarter. The stock hit a high of Rs 1,710 and a low of Rs 1,667.70 so far during the day. The stock hit a record high of Rs 1,740 on 31 August 2016. The stock hit a 52-week low of Rs 1,204 on 12 February 2016. The stock had outperformed the market over the past 30 days till 21 October 2016, rising 2.95% compared with 2.42% decline in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 11.41% as against Sensexs 0.99% rise.

The mid-cap paints and coatings maker has an equity capital of Rs 46.66 crore. Face value per share is Rs 10.

Shares of Akzo Nobel India saw pre-result upmove, gaining 3.34% in the preceding five trading sessions to settle at Rs 1,693.55 on 21 October 2016, from its close of Rs 1,638.75 on 14 October 2016.

Akzo Nobel Indias operating profit rose 28% to Rs 56 crore in Q2 September 2016 over Q2 September 2015.

Jayakumar Krishnaswamy, Managing Director, AkzoNobel India said that the company robust performance in Q2 September 2016 has been driven by innovation through growing brands, strong cost management and focus on sustainable operations. The company has also broken ground on its new powder coatings plant in Mumbai. The new facility will complement the companys existing plant in Bangalore, doubling its installed capacity, Krishnaswamy said.

Akzo Nobel India manufactures and markets a wide range of coatings covering decorative, powder, marine & protective, automotive & aerospace, coil & specialty plastics.

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Persistent Systems slips after muted Q2 outcome
Oct 24,2016

The result was announced on Saturday, 22 October 2016.

Meanwhile, the BSE Sensex was up 100.52 points, or 0.36%, to 28,177.70.

On BSE, so far 7,515 shares were traded in the counter, compared with average daily volume of 10,276 shares in the past one quarter. The stock hit a high of Rs 679.80 and a low of Rs 656 so far during the day. The stock hit a 52-week high of Rs 796.75 on 21 March 2016. The stock hit a 52-week low of Rs 501.10 on 28 September 2016. The stock had outperformed the market over the past 30 days till 21 October 2016, rising 12.54% compared with 2.42% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 3.06% as against Sensexs 0.99% rise.

The mid-cap company has equity capital of Rs 80 crore. Face value per share is Rs 10.

On a consolidated basis, Persistent Systems earnings before interest, taxes, depreciation and Amortization (EBITDA) rose 4.8% to Rs 110.77 crore in Q2 September 2016 over Q1 June 2016.

Dr. Anand Deshpande, chairman and managing director, Persistent Systems said that the company believes that its strategy of enhanced focus on IP-driven and digital business will result in continued growth of the company as its responds to changing market conditions.

Persistent Systems builds software that drives the business of our customers; serving software product companies and enterprises with software at the core of their digital transformation.

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Union Bank of India gains as board to consider fund raising
Oct 24,2016

The announcement was made after market hours on Friday, 21 October 2016.

Meanwhile, the S&P BSE Sensex was up 68.40 points or 0.24% at 28,145.58

On BSE, so far 2.16 lakh shares were traded in the counter as against average daily volume of 6.20 lakh shares in the past one quarter. The stock hit a high of Rs 150.75 and a low of Rs 147.25 so far during the day. The stock had hit a 52-week high of Rs 173.90 on 1 December 2015. The stock had hit a 52-week low of Rs 104.05 on 29 February 2016. The stock had outperformed the market over the past 30 days till 21 October 2016, rising 0.89% compared with 2.42% decline in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 16.25% as against Sensexs 0.99% rise.

The large-cap bank has equity capital of Rs 687.44 crore. Face value per share is Rs 10.

Union Bank of Indias net profit fell 67.9% to Rs 166.32 crore on 1.4% decline in total income to Rs 8916.51 crore in Q1 June 2016 over Q1 June 2015.

Union Bank of India is one of largest state-owned banks in India. The Government of India (GoI) held 63.44% in Union Bank of India (as per the shareholding pattern as on 30 September 2016).

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Sun Pharma gains after completing divestment of 7 brands to RPG
Oct 24,2016

The announcement was made after market hours on Friday, 21 October 2016.

Meanwhile, the BSE Sensex was up 59.06 points, or 0.21%, to 28,136.24.

On BSE, so far 47,000 shares were traded in the counter, compared with average daily volume of 2.80 lakh shares in the past one quarter. The stock hit a high of Rs 754.95 and a low of Rs 746.45 so far during the day. The stock hit a 52-week high of Rs 909.90 on 27 October 2015. The stock hit a 52-week low of Rs 706.40 on 24 November 2015. The stock had underperformed the market over the past 30 days till 21 October 2016, falling 5.05% compared with 2.42% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 5.20% as against Sensexs 0.99% rise.

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

Sun Pharmaceutical Industries (Sun Pharma) said it completed the divestment of its seven prescription brands in India to RPG Life Sciences. This has been done after receiving approval of the Competition Commission of India (CCI) and completion of all the necessary formalities for closure of the transaction, Sun Pharma said in a filing.

On 27 July 2016, Sun Pharma had informed that it had signed an pact with RPG Life Sciences to divest seven brands in India, owned by Sun Pharma and its subsidiary, for a consideration of Rs 41 crore.

Sun Pharmas consolidated net profit surged 265.8% to Rs 2033.71 crore on 22.7% growth in net sales to Rs 8006.68 crore in Q1 June 2016 over Q1 June 2015.

Sun Pharmaceutical Industries is the worlds fifth largest specialty generic pharmaceutical company and Indias top pharmaceutical company.

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Inox Wind gains after winning order
Oct 24,2016

The announcement was made before trading hours today, 24 October 2016.

Meanwhile, the BSE Sensex was up 36.28 points, or 0.13%, to 28,113.46.

On BSE, so far 11,000 shares were traded in the counter, compared with average daily volume of 89,869 shares in the past one quarter. The stock hit a high of Rs 227.90 and a low of Rs 224.30 so far during the day. The stock hit a 52-week high of Rs 411.55 on 26 October 2015. The stock hit a record low of Rs 161 on 6 September 2016. The stock had outperformed the market over the past 30 days till 21 October 2016, rising 7.12% compared with 2.42% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 2.86% as against Sensexs 0.99% rise.

The mid-cap company has equity capital of Rs 221.92 crore. Face value per share is Rs 10.

ReNew Power Ventures, Indias leading clean energy company, has issued a repeat order to Inox Wind for a 50 megawatts (MW) wind power project to be executed in the state of Gujarat in India. ReNew Power is Indias leading independent power producer of clean energy with more than 3,000 MW of commissioned and under construction assets. This is a turnkey project and is scheduled to be commissioned by March 2017. The 50 MW order from ReNew Power is part of the 350 MW of orders announced by Inox Wind on 3 October 2016.

As part of the order, Inox will supply and install 25 units of its advanced 2MW DFIG 113 rotor dia Wind Turbine Generators (WTGs) for Renew Power. Inox Winds 113 meter rotor dia WPG is the newest variant of the companys market leading 2 MW platform. It significantly increases annual energy production and is especially suited for low wind segments in the country.

On a consolidated basis, net profit of Inox Wind declined 80.44% to Rs 11.82 crore on 32.64% decline in net sales to Rs 432.35 crore in Q1 June 2016 over Q1 June 2015.

Inox Wind is a fully integrated player in the wind energy market with three manufacturing plants at Gujarat, Himachal Pradesh and Madhya Pradesh.

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MindTree slips after weak Q2 earnings
Oct 24,2016

The result was announced after market hours on Friday, 21 October 2016.

Meanwhile, the BSE Sensex was up 26.52 points, or 0.09%, to 28,103.70.

On BSE, so far 1.22 lakh shares were traded in the counter, compared with average daily volume of 79,569 shares in the past one quarter. The stock hit a high of Rs 464.60 and a low of Rs 452.10 so far during the day. The stock hit a record high of Rs 803.50 on 4 March 2016. The stock hit a 52-week low of Rs 452.10 on 24 October 2016. The stock had underperformed the market over the past 30 days till 21 October 2016, faling 5.99% compared with 2.42% decline in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 14.02% as against Sensexs 0.99% rise.

The mid-cap company has equity capital of Rs 167.96 crore. Face value per share is Rs 10.

MindTrees consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) fell 16.9% to Rs 162.10 crore in Q2 September 2016 over Q1 June 2016. EBITDA margin was reported at 12.5% in Q2 September 2016, lower than 14.7% in Q1 June 2016.

In a separate announcement after market hours on Friday, 21 October 2016, the company said that its board at its meeting on 18 July 2016 had approved the scheme of amalgamation of Magnet 360, LLC with Mindtree. The board, at its meeting held on 21 October 2016 have decided not to pursue further and has approved withdrawal of the scheme of amalgamation of Magnet 360, LLC with Mindtree.

MindTree delivers digital transformation and technology services from ideation to execution, enabling Global 2000 clients to outperform the competition. n++Born digital,n++ Mindtree takes an agile, collaborative approach to creating customized solutions across the digital value chain. At the same time, our deep expertise in infrastructure and applications management helps optimize your IT into a strategic asset. Whether you need to differentiate your company, reinvent business functions or accelerate revenue growth, we can get you there.

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Oberoi Realty advances after good Q2 result
Oct 24,2016

The result was announced after market hours on Friday, 21 October 2016.

Meanwhile, the S&P BSE Sensex was up 42.31 points or 0.15% at 28,119.49

On BSE, so far 15.42 lakh shares were traded in the counter as against average daily volume of 14,355 shares in the past one quarter. The stock hit a high of Rs 347 and a low of Rs 330.95 so far during the day. The stock had hit a record high of Rs 348.55 on 17 October 2016. The stock had hit a 52-week low of Rs 210.15 on 12 February 2016. The stock had outperformed the market over the past 30 days till 21 October 2016, rising 13.28% compared with 2.42% decline in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 11.69% as against Sensexs 0.99% rise.

The large-cap company has equity capital of Rs 339.38 crore. Face value per share is Rs 10.

Oberoi Realty said that total area booked was 1.77 lakh square feet in Q2 September 2016 as against 0.63 lakh square feet in Q2 September 2015. The latest order book stands at Rs 4043 crore as against Rs 2723 crore at the end of half year ended September 2015.

Commenting on the results, Vikas Oberoi, Chairman & Managing Director, Oberoi Realty said that the real estate sector has been influenced by some significant policy changes, recent being the monetary policy announced by RBI, which will bring the cost of money down and encourage sales. Additionally, the various initiatives announced by the government have improved market sentiments thus accelerating sales volumes. The Maharashtra governments sustained focus on infrastructure in Mumbai is helping bridge the infrastructure divide, acting as an added incentive for the sector.

Oberoi Realty is Indias leading real estate development company, headquartered in Mumbai, focused on premium developments in the residential, office space, retail, hospitality and social infrastructure verticals.

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Lakshmi Machine Works gains as board to consider buyback proposal
Oct 24,2016

The announcement was made after market hours on Friday, 21 October 2016.

Meanwhile, the BSE Sensex was up 45.99 points, or 0.16%, to 28,120.16

On BSE, so far 7,923 shares were traded in the counter, compared with average daily volume of 6,698 shares in the past one quarter. The stock hit a high of Rs 4,600 and a low of Rs 4,470.90 so far during the day. The stock hit a record high of Rs 4,698.50 on 6 October 2016. The stock hit a 52-week low of Rs 3,050 on 26 February 2016. The stock had outperformed the market over the past 30 days till 21 October 2016, falling 1.16% compared with 2.42% decline in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 16.48% as against Sensexs 0.99% rise.

The mid-cap company has equity capital of Rs 11.27 crore. Face value per share is Rs 10.

Net profit of Lakshmi Machine Works declined 23.3% to Rs 33.14 crore on 9.9% decline in net sales to Rs 544.70 crore in Q1 June 2016 over Q1 June 2015.

Lakshmi Machine Works manufacturers entire range of textile spinning machinery from blow room to ring spinning.

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V-Guard Inds scales record high after robust Q2 outcome
Oct 24,2016

The result was announced after market hours on Friday, 21 October 2016.

Meanwhile, the S&P BSE Sensex was up 38.83 points or 0.14% at 28,116.01

On BSE, so far 85,000 shares were traded in the counter as against average daily volume of 43,672 shares in the past one quarter. The stock hit a high of Rs 198.75 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 191.85 so far during the day. The stock had hit a 52-week low of Rs 78.66 on 12 February 2016. The stock had outperformed the market over the past 30 days till 21 October 2016, falling 1.2% compared with 2.42% decline in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 30.03% as against Sensexs 0.99% rise.

The mid-cap company has equity capital of Rs 30.18 crore. Face value per share is Rs 1.

V-Guard Industries said that owing to better market conditions, products like Electric Water Heaters, Pumps, Fan and Digital UPS have done extremely well in Q2 September 2016. Onam season was positive with categories related to festive season doing well, the company said. Reduction in cost of goods sold is due to reduced input cost and continued cost savings from supply chain initiatives, it added.

Commenting on the companys performance, Mithun. K. Chittilappilly, Managing Director, V-Guard Industries said that the company will be expanding to the north markets and expand its range in the Kitchen and home appliances range to cater to a wider audience. The company expects to perform reasonably well in the water heater segment considering upcoming season, Chittilappilly said.

V-Guard Industries makes consumer electrical and electronics products. The companys product range includes Voltage Stabilizer, Digital UPS, Inverter and Inverter Batteries, Electric Water Heaters, Solar Water Heaters, Domestic Pumps, Agricultural Pumps, Industrial Motors, Domestic Switch Gears, Distribution Boards, Wiring Cables, Industrial Cables, Induction Cooktops, Mixer Grinders and Fans.

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Cairn India gains after strong Q2 results
Oct 24,2016

The result was announced after market hours on Friday, 21 October 2016.

Meanwhile, the BSE Sensex was up 42.38 points, or 0.15%, to 28,119.56.

On BSE, so far 1.22 lakh shares were traded in the counter, compared with average daily volume of 4.30 lakh shares in the past one quarter. The stock hit a high of Rs 235.90 and a low of Rs 232.05 so far during the day. The stock hit a 52-week high of Rs 236.90 on 20 October 2016. The stock hit a 52-week low of Rs 106.60 on 19 January 2016. The stock had outperformed the market over the past 30 days till 21 October 2016, rising 19.08% compared with 2.42% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 20.76% as against Sensexs 0.99% rise.

The large-cap company has equity capital of Rs 1875.71 crore. Face value per share is Rs 10.

On a consolidated basis, Cairn India net profit rose 117% to Rs 778.70 crore on 8% rise in net sales to Rs 2038.59 crore in Q2 September 2016 over Q1 June 2016. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 31% to Rs 1039 crore in Q2 September 2016 over Q1 June 2016.

Revenue Q2 September 2016 increased marginally over Q1 June 2016 as discount to Brent for Rajasthan crude declined substantially from $8.2 per bbl to $4.3 per bbl, implying a reduction in discount from 18% to 9.3%. An improvement in differential between Bonny Light and Brent, and strong refining crack for fuel oil and waxy residue helped reduce the discount, the company said in a statement.

Cairn Indias average price realisation fell 4% to $41.80 per barrel of oil equivalent (boe) in Q2 September 2016 compared with $43.70 boe in Q2 September 2015. Average price realisation rose 10% compared with $38 boe in Q1 June 2016.

In its outlook, the company said that with an aim to create long term value to the shareholders, it will remain focused on monetizing its Rajasthan resource base. A net capital investment of $100 million is estimated for the year ending March 2017 (FY17), including 20% for exploration activities and 80% for development of RDG Gas project and completion activities of Mangala EOR. The gross production from Rajasthan for FY17 is expected to be maintained at the year ended March 2016 (FY16) level. Efforts are ongoing to further improve the economics of key projects - Bhagyam and Aishwariya EOR, Barmer Hill and Satellite Fields, at low oil prices and the pre-development investment is underway to ensure project readiness for the development with grant of extension of PSC. The company retains the flexibility to raise its capital investment as oil prices improve and aims to generate a healthy cash flow post capex so as to retain the ability to pay dividends.

Cairn India is one of the largest independent oil and gas exploration and production companies in India.

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Wipro slips after weak Q2 results
Oct 24,2016

The result was announced after market hours on Friday, 21 October 2016.

Meanwhile, the BSE Sensex was up 2.31 points, or 0.01%, to 28,079.49.

On BSE, so far 4.38 lakh shares were traded in the counter, compared with average daily volume of 2.59 lakh shares in the past one quarter. The stock hit a high of Rs 494.80 and a low of Rs 478.10 so far during the day. The stock hit a 52-week high of Rs 606.75 on 20 April 2016. The stock hit a 52-week low of Rs 470 on 29 September 2016. The stock had outperformed the market over the past 30 days till 21 October 2016, rising 3.68% compared with 2.42% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 7.12% as against Sensexs 0.99% rise.

The large-cap company has equity capital of Rs 486.16 crore. Face value per share is Rs 2.

During the quarter, Wipros non-GAAP constant currency IT services segment revenue in dollar terms grew 0.9% over Q1 June 2016 and grew 7.2% over Q2 September 2015. IT services segment revenue was $1916.30 million, a decrease of 0.8% over Q1 June 2016 and an increase of 4.6% over Q2 September 2015.

IT services segment profits fell 5% to Rs 2340 crore on 9% increase in revenue to Rs 13140 crore in Q2 September 2016 over Q2 September 2015. Wipro expects revenues from its IT services business to be in the range of $1,916 million to $1,955 million in the year ending March 2017.

Wipro is a leading information technology, consulting and business process services company that delivers solutions to enable its clients do business better.

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GNFC surges after bulk deal
Oct 21,2016

Meanwhile, the BSE Sensex was down 33.39 points, or 0.12%, to 28,096.45

Bulk deal boosted volume on the scrip. On BSE, so far 12.32 lakh shares were traded in the counter, compared with an average daily volume of 2.26 lakh shares in the past one quarter. The stock hit a high of Rs 247.55 so far during the day, which is also a record high for the stock. The stock hit a low of Rs 223.05 so far during the day. The stock hit a 52-week low of Rs 59.25 on 23 October 2015. The stock had outperformed the market over the past 30 days till 20 October 2016, rising 26.41% compared with 1.32% fall in the Sensex. The scrip also outperformed the market in past one quarter, gaining 40.1% as against Sensexs 1.17% rise.

The mid-cap company has an equity capital of Rs 155.42 crore. Face value per share is Rs 10.

Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) reported net profit of Rs 50.62 crore in Q1 June 2016 as against net loss of Rs 9.36 crore in Q1 June 2015. Net sales declined 10.55% to Rs 945.44 crore in Q1 June 2016 over Q1 June 2015.

GNFC is one of the leading companies in the fertilizer industry in India.

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Cipla drops after unfavorable ruling by Supreme Court
Oct 21,2016

The announcement was made during market hours today, 21 October 2016.

Meanwhile, the S&P BSE Sensex was down 54.24 points or 0.19% at 28,075.60

On BSE, so far 1.53 lakh shares were traded in the counter as against average daily volume of 2.08 lakh shares in the past one quarter. The stock hit a high of Rs 596.50 and a low of Rs 570.30 so far during the day. The stock had hit a 52-week high of Rs 704.75 on 29 October 2015. The stock had hit a 52-week low of Rs 458.25 on 25 May 2016. The stock had outperformed the market over the past 30 days till 20 October 2016, falling 0.86% compared with 1.32% fall in the Sensex. The scrip also outperformed the market in past one quarter, gaining 14.5% as against Sensexs 1.17% rise.

The large-cap company has equity capital of Rs 160.84 crore. Face value per share is Rs 2.

Cipla said that Supreme Court has today, 21 October 2016 decided in favour of Union of India in an appeal filed against the company and others arising out of the judgement of the Allahabad High Court. The other petitions filed in the Bombay High Court on completely separate sets of grounds relating to alleged overcharged amounts are pending and are still subject to the interim stay granted by the Supreme Court in July 2016, Cipla said. The ruling was with reference to pending legal cases relating to alleged overcharging in respect of certain drugs under the Drugs (Price Control) Order, 1995.

On a consolidated basis, Cipla reported 43.7% fall in net profit to Rs 365.24 crore on 6.9% decline in net sales to Rs 3499.81 crore in Q1 June 2016 over Q1 June 2015.

Cipla is a global pharmaceutical company

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