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Blue Star moves north on brokerage boost
Jun 15,2017

Meanwhile, the S&P BSE Sensex was down 50.46 points or 0.16% at 31,105.45. The S&P BSE Mid-Cap index rose 10.41 points or 0.07% at 14,809.82.

On the BSE, 1,599 shares were traded on the counter so far as against the average daily volumes of 14,000 shares in the past two weeks. The stock had hit a high of Rs 662.85 and a low of Rs 644.05 so far during the day. The stock had hit a record high of Rs 723.95 on 5 April 2017 and a 52-week low of Rs 407.65 on 24 June 2016.

The stock had underperformed the market over the past one month till 14 June 2017, sliding 3.35% compared with the Sensexs 3.21% rise. The stock had, however, outperformed the market over the past one quarter, gaining 17.34% as against the Sensexs 5.82% rise. The scrip had also outperformed the market over the past one year, surging 50.89% as against the Sensexs 18.03% rise.

The mid-cap company has equity capital of Rs 19.22 crore. Face value per share is Rs 2.

Reports suggested that the domestic broker is of the view that the room AC sector offers potential for an extended period of high growth due to rising disposable incomes and under-penetration of product within the consumer durable basket.

On consolidated basis, Blue Stars net profit rose 147.6% to Rs 37.17 crore on 18.6% growth in net sales to Rs 1371.79 crore in Q4 March 2017 over Q4 March 2016.

Blue Star is Indias leading central airconditioning company. The company fulfils the air-conditioning needs of a large number of corporate, commercial and residential customers and has also established leadership in the field of commercial refrigeration.

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Aarti Industries spurts after winning contract
Jun 15,2017

The announcement was made during trading hours today, 15 June 2017.

Meanwhile, the S&P BSE Sensex was down 44.89 points, or 0.14% to 31,111.02.

On the BSE, 43,000 shares were traded in the counter so far, compared with average daily volumes of 23,915 shares in the past one quarter. The stock had hit a high of Rs 1,024.95 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 874.40 so far during the day. The stock hit a 52-week low of Rs 482 on 24 June 2016.

The stock had underperformed the market over the past one month till 14 June 2017, falling 8.20% compared with 1.87% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 10.54% as against Sensexs 5.31% rise. The scrip had also outperformed the market in past one year, rising 75.28% as against Sensexs 16.57% rise.

The mid-cap speciality chemicals company has equity capital of Rs 41.66 crore. Face value per share is Rs 5.

Aarti Industries announced that it has entered into a multi-year contract with a global agriculture company to supply a high value agrochemical intermediary.

The contract entails supply of a high value agrochemical intermediary, for use in herbicides, over a 10 year period. The supplies are expected to commence from the financial year ending March 2020 and will generate expected revenues of approximately Rs 4000 crore (approximately $620 million) over the contract term. The project will entail investment of about Rs 400 crore (approximately $62 million) by Aarti Industries.

The speciality chemicals market has been growing at 14% over the last five years and the market size is expected to touch $70 billion by 2020, the company said in a statement.

Net profit of Aarti Industries rose 6.8% to Rs 74.33 crore on 12.2% rise in net sales to Rs 834.35 crore in Q4 March 2017 over Q4 March 2016.

Aarti Industries is Indias leading producer of Benzene-based basic and intermediate chemicals in India. It is one of the leading supplier to global manufacturers of dyes, pigments, agrochemicals, pharmaceuticals & rubber chemicals.

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Plastiblends India advances after fixing record date for bonus shares
Jun 15,2017

The announcement was made after market hours yesterday, 14 June 2017.

Meanwhile, the S&P BSE Sensex was down 24.15 points, or 0.08% at 31,131.76. The S&P BSE Small-Cap index was up 78.86 points, or 0.51% at 15,667.54.

On the BSE, 1,138 shares were traded on the counter so far as against the average daily volumes of 1,365 shares in the past two weeks. The stock had hit a high of Rs 529 and a low of Rs 513 so far during the day. The stock had hit a record high of Rs 579 on 3 November 2016 and a 52-week low of Rs 399 on 27 March 2017.

The stock had underperformed the market over the past one month till 14 June 2017, declining 4% compared with the Sensexs 3.21% rise. The scrip had, however, outperformed the market over the past one quarter advancing 8.88% as against the Sensexs 5.82% rise. The scrip had also outperformed the market over the past one year advancing 18.96% as against the Sensexs 18.03% rise.

The small-cap company has equity capital of Rs 6.50 crore. Face value per share is Rs 5.

Plastiblends India announced that the company has fixed Tuesday, 4 July 2017 as the record date to eligible shareholders for issuance of bonus equity shares in the ratio 1:1 i.e. one bonus share for every one held.

Plastiblends Indias net profit fell 4.2% to Rs 9.02 crore on 6.6% increase in net sales to Rs 155.43 crore in Q4 March 2017 over Q4 March 2016.

Plastiblends India is engaged in the manufacturing of masterbatches.

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Repco Home Finance moves higher on fund raising
Jun 15,2017

The announcement was made after market hours yesterday, 14 June 2017.

Meanwhile, the S&P BSE Sensex was down 24.72 points or 0.08% at 31,131.19. The S&P BSE Mid-Cap index rose 7.50 points or 0.05% at 14,806.91.

On the BSE, 28,000 shares were traded on the counter so far as against the average daily volumes of 33,000 shares in the past two weeks. The stock had hit a high of Rs 918.80 and a low of Rs 883.55 so far during the day. The stock had hit a record high of Rs 923 on 13 June 2017 and a 52-week low of Rs 499.50 on 20 December 2016.

The stock had outperformed the market over the past one month till 14 June 2017, advancing 17.54% compared with the Sensexs 3.21% rise. The stock had also outperformed the market over the past one quarter, gaining 39% as against the Sensexs 5.82% rise. The scrip had also outperformed the market over the past one year, surging 21.25% as against the Sensexs 18.03% rise.

The mid-cap company has equity capital of Rs 62.56 crore. Face value per share is Rs 10.

Repco Home Finance announced that the securities allotment committee of the board of directors of the company approved the allotment of 2,720 secured, redeemable, non-convertible, non-cumulative debentures (SRNCD) aggregating to Rs 272 crore on private placement basis to International Finance Corporation.

Repco Home Finances net profit rose 19.8% to Rs 50.59 crore on 13.9% increase in total income to Rs 273.66 crore in Q4 March 2017 over Q4 March 2016.

Repco Home Finance (RHFL) is one of the leading housing finance companies in India.

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Aurobindo Pharma gallops after USFDA nod for generic drug
Jun 15,2017

The announcement was made during trading hours today, 15 June 2017.

Meanwhile, the S&P BSE Sensex was down 17.86 points, or 0.06% to 31,138.05.

On the BSE, 4.48 lakh shares were traded in the counter so far, compared with average daily volumes of 2.99 lakh shares in the past one quarter. The stock had hit a high of Rs 640.80 and a low of Rs 600.75 so far during the day. The stock hit a record high of Rs 895 on 6 October 2016. The stock hit a 52-week low of Rs 504 on 29 May 2017.

The stock had underperformed the market over the past one month till 14 June 2017, falling 2.12% compared with 1.87% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 12.48% as against Sensexs 5.31% rise. The scrip had also underperformed the market in past one year, falling 18.99% as against Sensexs 16.57% rise.

The large-cap company has equity capital of Rs 58.59 crore. Face value per share is Re 1.

Aurobindo Pharma announced that it has received final approval from the US Food & Drug Administration (USFDA) to manufacture Sevelamer Carbonate oral suspension, 0.8 gm and 2.4 gm. Sevelamer Carbonate oral suspension, a therapeutic equivalent generic version of Genzymes Renvela oral suspension. The product is being launched immediately.

Sevelamer Carbonate oral suspension is indicated for the control of serum phosphorus in patients with chronic kidney disease (CKD) on dialysis. The approved product has an estimated market size of $140 million in the US for the twelve months ending April 2017 according to IMS.

This is the 116th Abbreviated New Drug Application (ANDA) (including 19 tentative approvals) to be approved out of Unit VII formulation facility in Hyderabad, India used for manufacturing oral products. Aurobindo now has a total of 323 ANDA approvals (288 Final approvals including 16 from Aurolife Pharma LLC and 35 tentative approvals) from USFDA.

On a consolidated basis, net profit of Aurobindo Pharma declined 4.02% to Rs 532.45 crore on 2.50% decline in net sales to Rs 3582.13 crore in Q4 March 2017 over Q4 March 2016.

Aurobindo Pharma manufactures generic pharmaceuticals and active pharmaceutical ingredients.

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Lux Inds hits record high
Jun 15,2017

Meanwhile, the S&P BSE Sensex was up 8.41 points or 0.03% at 31,164.32. The S&P BSE Small-Cap index rose 82.85 points or 0.53% at 15,671.53.

On the BSE, 95,000 shares were traded on the counter so far as against the average daily volumes of 1.24 lakh shares in the past two weeks. The stock had hit a high of Rs 1,114 so far during the day, which is a record high. The stock hit a low of Rs 1,039.05 so far during the day. The stock had hit a 52-week low of Rs 570.45 on 18 August 2016.

The stock had outperformed the market over the past one month till 14 June 2017, advancing 26.96% compared with the Sensexs 3.21% rise. The stock had also outperformed the market over the past one quarter, gaining 59.65% as against the Sensexs 5.82% rise. The scrip had also outperformed the market over the past one year, surging 69.56% as against the Sensexs 18.03% rise.

The small-cap company has equity capital of Rs 5.05 crore. Face value per share is Rs 2.

Shares of Lux Industries have risen 20.37% in two trading sessions from its closing of Rs 901.35 on 13 June 2017, after the Reliance Mutual Fund purchased bulk shares of the company via bulk deal on Tuesday, 13 June 2017. The stock had spurted 15.64% to settle at Rs 1,042.35 yesterday, 14 June 2017.

Valuead Securities sold 5.62 lakh shares of apparel firm Lux Industries at Rs 901.64 per share in a bulk deal on the BSE on 13 June 2017. Reliance Mutual Fund bought 4.44 lakh shares at Rs 900.4 per share.

Valuead Securities held 2.23% stake in Lux Industries end March 2017.

Lux Industries net profit rose 26.9% to Rs 19.59 crore on 3.6% growth in net sales to Rs 279.57 crore in Q4 March 2017 over Q4 March 2016.

Lux Industries makes various kinds of hosiery products for men, women and children.

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Cadila Healthcare gains after USFDA nod for Acyclovir
Jun 15,2017

The announcement was made during trading hours today, 15 June 2017.

Meanwhile, the S&P BSE Sensex was up 15.23 points, or 0.05% to 31,171.14.

On the BSE, 26,000 shares were traded in the counter so far, compared with average daily volumes of 1.51 lakh shares in the past one quarter. The stock had hit a high of Rs 542 and a low of Rs 528.85 so far during the day. The stock hit a record high of Rs 558 on 12 June 2017. The stock hit a 52-week low of Rs 305.05 on 24 June 2016.

The stock had outperformed the market over the past one month till 14 June 2017, rising 8.18% compared with 1.87% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 19.43% as against Sensexs 5.31% rise. The scrip had also outperformed the market in past one year, rising 65.84% as against Sensexs 16.57% rise.

The large-cap company has equity capital of Rs 102.37 crore. Face value per share is Re 1.

Cadila Healthcare said it received the final approval from the US Food and Drug Administration (USFDA) to market Acyclovir for injection USP in strengths of 500 mg/vial and 1000 mg/vial. Acyclovir for Injection USP, which caters to the anti-viral segment, will be produced at the groups formulations manufacturing facility at Moraiya, Ahmedabad.

The group now has more than 120 approvals and has so far filed over 300 Abbreviated New Drug Applications (ANDAs) since the commencement of the filing process in financial year ending March 2004.

Cadila Healthcares consolidated net profit fell 32.2% to Rs 385.5 crore on 6.5% rise in net sales to Rs 2417.50 crore in Q4 March 2017 over Q4 March 2016.

Cadila Healthcare is an innovative, global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies.

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Jindal Saw jumps after cutting stake in foreign unit
Jun 15,2017

The announcement was made after market hours yesterday, 14 June 2017.

Meanwhile, the S&P BSE Sensex was up 21.14 points, or 0.07% to 31,177.05.

On the BSE, 1.99 lakh shares were traded in the counter so far, compared with average daily volumes of 1.43 lakh shares in the past one quarter. The stock had hit a high of Rs 78.30 and a low of Rs 74.80 so far during the day. The stock hit a 52-week high of Rs 87.45 on 17 March 2017. The stock hit a 52-week low of Rs 43.56 on 12 August 2016.

The stock had underperformed the market over the past one month till 14 June 2017, falling 8.93% compared with 1.87% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 13.08% as against Sensexs 5.31% rise. The scrip had, however, outperformed the market in past one year, rising 44.59% as against Sensexs 16.57% rise.

The small-cap company has equity capital of Rs 63.95 crore. Face value per share is Rs 2.

Jindal Saw had a wholly-owned step down foreign subsidiary, namely, Jindal Tubular USA LLC (JTUL), which had acquired a pipe manufacturing plant in Mississippi, USA under Chapter XI.

JTUL had a bank debt for more than $140 million and had been incurring continuous losses since the year of acquisition, resulting into a negative net worth. Since the loan and losses were being consolidated with the financials of Jindal Saw, banks and financial institutions prevented the company to provide any cash support further. Therefore, in order to conserve the resources of the company and to seek the rating up-gradation, the ownership in JTUL was brought down to 19% by transferring the remaining equity to prevent further financial erosion of the company.

Meanwhile, Jindal Saw has also sold/disposed its shareholding in JITF Shipping & Logistics (Singapore), which was wholly-owned subsidiary of the company. The reason for this is that the subsidiary was not doing any business and had no assets. Therefore, in order to conserve the resources of the company and to seek the rating up-gradation, the same was disposed off.

Further, Jindal SAW Espana SL incorporated in Spain as subsidiary was closed down as the purpose for which it was created was not fulfilled.

Net profit of Jindal Saw rose 69.41% to Rs 113.93 crore on 5.78% decline in net sales to Rs 1723.58 crore in Q4 March 2017 over Q4 March 2016.

Jindal Saw makes saw pipes (submerged arc welded pipes) and spiral pipes for the energy transportation sector; carbon, alloy and seamless pipes and tubes for industrial applications; and ductile iron (DI) pipes and fittings for water and wastewater transportation.

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Vijaya Bank drops ex-dividend
Jun 15,2017

Meanwhile, the S&P BSE Sensex was up 17.53 points, or 0.06% at 31,173.44. The S&P BSE Mid-Cap index was up 26.29 points, or 0.18% at 14,825.70.

On the BSE, 72,000 shares were traded on the counter so far as against the average daily volumes of 2.31 lakh shares in the past two weeks. The stock had hit a high of Rs 82.85 and a low of Rs 81.65 so far during the day. The stock had hit a 52-week high of Rs 97.40 on 9 May 2017 and a 52-week low of Rs 31.15 on 14 June 2016.

The stock had underperformed the market over the past one month till 14 June 2017, declining 4.29% compared with the Sensexs 3.21% rise. The scrip had, however, outperformed the market over the past one quarter advancing 31.73% as against the Sensexs 5.82% rise. The scrip had also outperformed the market over the past one year advancing 162.64% as against the Sensexs 18.03% rise.

The mid-cap bank has equity capital of Rs 998.85 crore. Face value per share is Rs 10.

Before turning ex-dividend, the stock offered a dividend yield of Rs 1.79% based on the closing price of Rs 83.65 yesterday, 14 June 2017.

Vijaya Banks net profit spurted 186.1% to Rs 203.99 crore on 8.6% increase in total income to Rs 3504.73 crore in Q4 March 2017 over Q4 March 2016.

The Government of India held 70.33% stake in Vijaya Bank as at 31 March 2017.

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Bombay Burmah advances after block deals
Jun 15,2017

Meanwhile, the S&P BSE Sensex was up 5.42 points or 0.02% at 31,161.33. The S&P BSE Mid-Cap index rose 24.96 points or 0.17% at 14,824.37.

On the BSE, 49,000 shares were traded on the counter so far as against the average daily volumes of 1.73 lakh shares in the past two weeks. The stock had hit a high of Rs 962 and a low of Rs 939.80 so far during the day. The stock had hit a record high of Rs 964.80 yesterday, 14 June 2017 and a 52-week low of Rs 377 on 24 June 2016.

The stock had outperformed the market over the past one month till 14 June 2017, advancing 5.2% compared with the Sensexs 3.21% rise. The stock had also outperformed the market over the past one quarter, gaining 22.22% as against the Sensexs 5.82% rise. The scrip had also outperformed the market over the past one year, surging 129.08% as against the Sensexs 18.03% rise.

The mid-cap company has equity capital of Rs 13.95 crore. Face value per share is Rs 2.

Promoter Archway Investment Company offloaded a combined 11.80 lakh shares of Bombay Burmah Trading Corporation (BBTC) at Rs 877 per share in a series of block deals on the BSE yesterday, 14 June 2017.

Promoter Nusli Neville Wadia bought 7.05 lakh shares. Promoter Nowrosjee Wadia and Sons purchased 3.43 lakh shares. Estate of Shri Edulji Framrize Dinshaw bought 1.32 lakh shares.

Archway Investment Company controlled 12.5% stake, Nusli Neville Wadia held 8.8% and Nowrosjee Wadia and Sons owned 3.29% stake end March 2017.

Bombay Burmah Trading Corporation reported net profit of Rs 5.05 crore in Q4 March 2017 compared with net loss of Rs 16.25 crore in Q4 March 2016. Net sales rose 12% to Rs 61.11 crore in Q4 March 2017 over Q4 March 2016.

Bombay Burmah Trading Corporation has diversified its interests into tea, coffee, other plantation products, biscuit and dairy products, auto electric and white goods parts, weighing products, horticulture and landscaping services, healthcare products (viz.) dental, orthopaedic and opthalmic products.

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SCI spurts on stake-sale buzz
Jun 15,2017

Meanwhile, the S&P BSE Sensex was up 9.63 points, or 0.03% to 31,165.54.

On the BSE, 13.46 lakh shares were traded in the counter so far, compared with average daily volumes of 4.09 lakh shares in the past one quarter. The stock had hit a high of Rs 92 and a low of Rs 87.15 so far during the day. The stock hit a 52-week high of Rs 92 on 15 June 2017. The stock hit a 52-week low of Rs 55.75 on 21 November 2016.

The stock had underperformed the market over the past one month till 14 June 2017, falling 3.58% compared with 1.87% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 22.74% as against Sensexs 5.31% rise. The scrip had also outperformed the market in past one year, rising 17.29% as against Sensexs 16.57% rise.

The mid-cap company has equity capital of Rs 465.80 crore. Face value per share is Rs 10.

According to reports, the core group of secretaries on disinvestment, headed by the cabinet secretary, discussed the proposal and has mandated the Shipping Ministry to find out legal hassles, if any, in the process. The proposal will soon go to the Cabinet Committee on Economic Affairs, reports added.

The government, at present, holds 63.75% stake in Navratna PSU Shipping Corporation of India (SCI). After the sale of 26% stake, the government holding in the company will come down to 37.75%. The sale of 26% stake could fetch about Rs 960 crore to the exchequer. The government has budgeted to raise Rs 15000 crore through strategic sale of PSUs this fiscal.

Net profit of Shipping Corporation of India declined 58.78% to Rs 92.36 on 5.09% decline in net sales to Rs 897.73 crore in Q4 March 2017 over Q4 March 2016.

Shipping Corporation of India in the largest Indian shipping company. The SCI also has substantial interests in various segments of the shipping trade.

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Central Bank of India drops as RBI puts bank under PCA
Jun 15,2017

The announcement was made after market hours yesterday, 14 June 2017.

Meanwhile, the S&P BSE Sensex was up 12.70 points or 0.04% at 31,168.61.

On the BSE, 9,555 shares were traded on the counter so far as against the average daily volumes of 68,000 shares in the past two weeks. The stock had hit a high of Rs 101.90 and a low of Rs 97.60 so far during the day. The stock had hit a 52-week high of Rs 125 on 22 May 2017 and a 52-week low of Rs 76.35 on 28 November 2016.

The stock had underperformed the market over the past one month till 14 June 2017, sliding 11.18% compared with the Sensexs 3.21% rise. The stock had, however, outperformed the market over the past one quarter, gaining 8.31% as against the Sensexs 5.82% rise. The scrip had underperformed the market over the past one year, surging 14.6% as against the Sensexs 18.03% rise.

The large-cap bank has equity capital of Rs 1902.17 crore. Face value per share is Rs 10.

Central Bank of India said that the Reserve Bank of India (RBI) has put the bank under prompt corrective action (PCA) in view of high net non performing assets (NPA) and negative return on assets (RoA). The bank believes that corrective measures arising out of the PCA will help in improving overall performance of the bank.

Central Bank of India reported net loss of Rs 591.77 crore in Q4 March 2017, compared with net loss of Rs 898.04 crore in Q4 March 2016. Total income rose 6.1% to Rs 7121.05 crore in Q4 March 2017 over Q4 March 2016.

The Government of India holds 81.28% stake in Central Bank of India (as per the shareholding pattern as on 31 March 2017).

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HDIL recovers on bargain hunting
Jun 14,2017

Meanwhile, the S&P BSE Sensex was up 62.60 points or 0.2% at 31,166.09. The S&P BSE Mid-Cap index declined 9.05 points or 0.06% at 14,789.15.

On the BSE, 15.78 lakh shares were traded on the counter so far as against average daily volumes of 28.96 lakh shares in the past two weeks. The stock had hit a high of Rs 88.40 and a low of Rs 85.40 so far during the day. The stock had hit a 52-week high of Rs 108.75 on 12 July 2016. The stock hit a 52-week low of Rs 52.25 on 27 December 2016.

Shares of Housing Development & Infrastructure (HDIL) had fallen 8.44% in the preceding six trading sessions to settle at Rs 85.70 yesterday, 13 June 2017, from its closing of Rs 93.60 on 5 June 2017.

On 8 June 2017, HDIL issued clarification to the stock exchanges with regard to media news titled HDIL fails to repay loan, CBI seizes its Kurla property. The company said it has received the possession notice from the Central Bank of India on account of NPA due to technical reasons. The company had written to the Central Bank of India for closure of the said loan and reply is awaited.

HDILs consolidated net profit rose 28% to Rs 60.88 crore on 61.62% decline in net sales to Rs 129.51 crore in Q4 March 2017 over Q4 March 2016.

HDIL is a real estate development company, with significant operations in the Mumbai Metropolitan Region.

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Repco Home declines after recent sharp rally
Jun 14,2017

Meanwhile, the S&P BSE Sensex was up 49.91 points, or 0.16% at 31,153.40.The S&P BSE Mid-Cap index was down 24.39 points, or 0.16% at 14,773.81.

On the BSE, 31,000 shares were traded on the counter so far as against the average daily volumes of 29,000 shares in the past two weeks. The stock had hit a high of Rs 913.85 and a low of Rs 860.25 so far during the day. The stock had hit a record high of Rs 923 on 13 June 2017 and a 52-week low of Rs 499.50 on 20 December 2016.

Repco Home Finance had rallied 16.66% in the preceding three trading sessions to settle at Rs 907.95 yesterday, 13 June 2017, from its close of Rs 778.25 on 8 June 2017.

Repco Home Finances net profit rose 19.8% to Rs 50.59 crore on 13.9% increase in total income to Rs 273.66 crore in Q4 March 2017 over Q4 March 2016.

Repco Home Finance (RHFL) is one of the leading housing finance companies in India.

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GMR Infra extends recent rally
Jun 14,2017

Meanwhile, the S&P BSE Sensex was up 63.61 points, or 0.20% to 31,167.10.

On the BSE, 73.91 lakh shares were traded in the counter so far, compared with average daily volumes of 28.40 lakh shares in the past one quarter. The stock had hit a high of Rs 19.75 and a low of Rs 18.15 so far during the day. The stock hit a 52-week high of Rs 19.50 on 13 June 2017. The stock 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 13 June 2017, rising 7.71% compared with 2.58% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 14.94% as against Sensexs 5.80% rise. The scrip had also outperformed the market in past one year, rising 51.41% as against Sensexs 17.84% rise.

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

Shares of GMR Infrastructure have risen 18.13% in four trading sessions from its close of Rs 16.55 on 8 June 2017.

According to recent media reports, the joint venture between GMR Infrastructure and Philippines-based Megawide Construction, which runs the Mactan Cebu International Airport (MCIA), submitted a massive unsolicited offer to build a second runway and a third passenger terminal in Cebu.

The unsolicited offer by the joint venture, which would eventually require a competitive challenge, was submitted on 7 June 2017. A key feature of the proposal would also allow GMR-Megawide to assume airside operations currently handled by the nations government, a first of this scale in the Philippines, reports suggested.

Assuming the offer is accepted by the government, the rehabilitation of existing facilities will be done from 2018 to 2021. The reclamation and construction of the second runway is targeted between 2022 and 2030. The final phase will be the construction of a third terminal slated for 2036 onward, reports added.

GMR Infrastructure reported net loss of Rs 2478.78 crore in Q4 March 2017 as against net loss of Rs 1787.09 crore in Q4 March 2016. Net sales rose 57.53% to Rs 176.98 crore in Q4 March 2017 over Q4 March 2016.

GMR Group is a leading global infrastructure conglomerate with interests in airport, energy, transportation and urban infrastructure.

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