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LT Foods gets energized after starting operations of plant
Jun 29,2017

The announcement was made after market hours yesterday, 28 June 2017.

Meanwhile, the S&P BSE Sensex was up 195.91 points, or 0.64%, to 31,030.23. The S&P Small-Cap index was up 195.86 points, or 1.29%, to 15,357.18.

On the BSE, 61,462 shares were traded in the counter so far, compared with average daily volume of 1.53 lakh shares in the past one quarter. The stock hit a high of Rs 69 and a low of Rs 67.05 so far during the day. The stock hit a record high of Rs 84.70 on 23 May 2017. The stock hit a 52-week low of Rs 21.11 on 9 November 2016.

The stock had underperformed the market over the past one month till 28 June 2017, falling 10.66% compared with 0.62% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 13.45% as against Sensexs 4.84% gains. The scrip also outperformed the market in past one year, jumping 178.45% as against Sensexs 16.25% gains.

The small-cap company has equity capital of Rs 26.67 crore. Face value per share is Re 1.

LT Foods has made an investment of $15 million in the plant with initial capacity of 60,000 tonnes and scope for further expansion in the future. The company plans to make its most popular Daawat brand a household name in Europe using raw material from India. The move will benefit 5,000 farmer families in India with brown rice supply increasing from India.

LT Foods plant is the first rice processing plant by any Indian foods brand in Europe. LT Foods plans to expand its geographical footprint in important markets of Europe and UK through this plant by increasing its sales from the current 5,000 tonnes to 60,000 tonnes over the next 3 years.

The company would be manufacturing a wide range of rice including popular varieties like Basmati, Thai, Jasmine and American rice from the new plant. Rotterdam, which is popularly known as the gateway to Europe will be a critical geographical location as it will give the company easy access to the whole of Europe and UK for its expansion plans.

LT Foods has collaborated with Rotterdam Partners, The Port of Rotterdam Authority and Netherlands Foreign Investment Agency (NFIA) for this initiative. LT Foods which is already a leading food brand in India and the number one speciality food brand in the US is aggressively expanding its geographical footprint to new territories globally. The company has already launched Daawat brand in 6 new countries in 2017 and plans to expand its product offerings and portfolio globally.

On consolidated basis, LT Foods net profit rose 507.7% to Rs 33.73 crore on 19.5% growth in net sales to Rs 962.15 crore in Q4 March 2017 over Q4 March 2016.

LT Foods is a branded specialty foods company. The company is engaged in milling, processing and marketing of branded and non-branded basmati rice, and manufacturing of rice food products in the domestic and overseas market. Its geographical segments include India, North America and rest of the world.

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Shakti Pumps drops after recent sharp rally
Jun 29,2017

Meanwhile, the S&P BSE Sensex was up 247.02 points, or 0.8% at 31,081.34. The S&P BSE Small-Cap index was up 198.45 points, or 1.31% at 15,359.77.

On the BSE, 1.55 lakh shares were traded on the counter so far as against the average daily volumes of 1.44 lakh shares in the past one quarter. The stock had hit a high of Rs 483.75 so far during the day, which is also its record high. The stock hit a low of Rs 457 so far during the day. The stock had hit a 52-week low of Rs 114.35 on 9 November 2016.

The stock had outperformed the market over the past one month till 28 June 2017, advancing 16.51% compared with the Sensexs 0.62% fall. The scrip had also outperformed the market over the past one quarter gaining 138.17% as against the Sensexs 4.84% rise. The scrip had also outperformed the market over the past one year advancing 212.31% as against the Sensexs 16.25% rise.

The small-cap company has equity capital of Rs 18.38 crore. Face value per share is Rs 10.

Shares of Shakti Pumps (India) had rallied 12.55% in the preceding one trading session to settle at Rs 472.05 yesterday, 28 June 2017, from its close of Rs 419.40 on 27 June 2017.

Shakti Pumps (India)s net profit spurted 4872.7% to Rs 10.94 crore on 124% increase in net sales to Rs 163.64 crore in Q4 March 2017 over Q4 March 2016.

Shakti Pumps (India) is a manufacturer and exporter of stainless steel water pumps, motors and solar pumps.

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RCF drops after fixing floor price of OFS at discount
Jun 29,2017

The announcement of the offer for sale was made after market hours yesterday, 28 June 2017.

Meanwhile, the S&P BSE Sensex was up 187.84 points, or 0.61%, to 31,022.16. The S&P BSE Mid-Cap index was up 105.72 points, or 0.73%, to 14,608.41.

On the BSE, 5.3 lakh shares were traded in the counter so far, compared with average daily volume of 7.54 lakh shares in the past one quarter. The stock had hit a high of Rs 76.85 and a low of Rs 75.60 so far during the day. The stock had hit a 52-week high of Rs 99.75 on 15 May 2017. The stock had hit a 52-week low of Rs 40.50 on 21 November 2016.

The stock had underperformed the market over the past one month till 28 June 2017, falling 7.52% compared with 0.62% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 12.69% as against Sensexs 4.84% gains. The scrip also outperformed the market in past one year, gaining 73.13% as against Sensexs 16.25% gains.

The mid-cap company has an equity capital of Rs 551.69 crore. Face value per share is Rs 10.

Rashtriya Chemicals & Fertilizers said that government, the promoter of the company announced its intention to sell up to 2.75 crore equity shares of the company of face value of Rs 10 each, representing 5% of the total paid up equity share capital of the company. The offer for sale will remain open today, 29 June 2017 for non-retail Investors and tomorrow, 30 June 2017 for retail investors and for non-retail Investors who choose to carry forward their bids through the separate window provided for the purpose on the stock exchanges.

The floor price for the offer shall be Rs 74.25 per equity share of the company.

Further upto 5% of the offer shares over and above the number of offer shares could be offered to eligible and willing employees of the company at a discount of upto 5% of the cut-off price subsequent to completion of the offer.

Data on NSE showed that the offer for sale received bids for 2.54 crore shares compared with offer of 2.2 crore shares at an indicative price of Rs 74.25 from the non retail investors today, 29 June 2017. The offer was subscribed 1.15 times.

Rashtriya Chemicals and Fertilizers net profit rose 36.4% to Rs 55.09 crore on 10.9% rise in net sales to Rs 2209.36 crore in Q4 March 2017 over Q4 March 2016.

State-run Rashtriya Chemicals and Fertilizers (RCF) is one of the leading producers of urea in India. The Government of India (GoI) currently holds 80% stake in RCF (as per the shareholding pattern as on 31 March 2017).

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Sobha recovers after recent slide
Jun 29,2017

Meanwhile, the S&P BSE Sensex was up 191.33 points, or 0.62% at 31,025.65. The S&P BSE Mid-Cap index was up 110.98 points, or 0.77% at 14,613.67.

On the BSE, 5,151 shares were traded on the counter so far as against the average daily volumes of 1.35 lakh shares in the past one quarter. The stock had hit a high of Rs 374.75 and a low of Rs 369.25 so far during the day. The stock had hit a 52-week high of Rs 449.05 on 17 May 2017 and a 52-week low of Rs 224.05 on 22 November 2016.

The stock had underperformed the market over the past one month till 28 June 2017, declining 6.69% compared with the Sensexs 0.62% fall. The scrip had also underperformed the market over the past one quarter gaining 1.31% as against the Sensexs 4.84% rise. The scrip had, however, outperformed the market over the past one year advancing 18.39% as against the Sensexs 16.25% rise.

The mid-cap company has equity capital of Rs 96.30 crore. Face value per share is Rs 10.

Shares of Sobha had declined 6.63% in the preceding four trading sessions to settle at Rs 366.05 yesterday, 28 June 2017, from its closing price of Rs 392.05 on 21 June 2017.

Sobhas consolidated net profit spurted 70.3% to Rs 47 crore on 5.9% increase in net sales to Rs 583.90 crore in Q4 March 2017 over Q4 March 2016.

Sobha Group is one of the largest real estate organisations in India and the Middle East. It has presence in 24 cities and 13 states across India and throughout the Middle East.

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Eris Lifesciences sees a lukewarm debut
Jun 29,2017

Meanwhile, the S&P BSE Sensex was up 186.08 points or 0.6% at 31,024.39. The S&P BSE Mid-Cap index was up 186.08 points or 0.6% at 31,024.39.

Shares of Eris Lifesciences made a debut on the bourses at Rs 612 per share, a premium of 1.49% over its issue price of Rs 603 per share. The stock had hit a high of Rs 627.70 and low of Rs 592.30 so far during the day. On BSE, 6.06 lakh shares were traded on the counter so far.

Eris Lifesciences initial public offering (IPO) had received bids for 5.25 crore shares compared with 1.59 crore shares, data on NSE showed. The IPO was subscribed 3.29 times.

Category wise, the qualified institutional buyers (QIBs) category was subscribed 4.68 times. The non institutional investors (NIIs) category was subscribed 0.45 times. The retail individual investors (RIIs) category was subscribed 3.51 times.

The price band of the IPO was fixed at Rs 600 to Rs 603 per share of face value of Re 1 each. The IPO had opened for subscription on 16 June 2017 and closed on 20 June 2017.

The IPO comprised of an offer for sale of 2.89 crore shares by the selling shareholders comprising the promoters and promoters group Amit Bakshi, Himanshu Shah, Inderjeet Negi, Kaushal Shah, Rajendrakumar Patel, Bhikabhai Shah and Hetal Shah and private equity (PE) investor ChrysCapital.

The objects of the issue were to get the benefits of listing the equity shares on the BSE and the NSE, to enhance visibility and brand image and provide liquidity to the existing shareholders.

Ahead of the bidding, IPO committee of the board of directors had allocated 1.29 crore shares to 37 anchor investors at the higher end of the IPO price band at Rs 603 per share aggregating Rs 779.45 crore.

Eris Lifesciences consolidated net profit rose 81.25% to Rs 242.08 crore on 21.43% rise in net sales to Rs 724.98 crore in the year ended 31 March 2017 (FY 2017) over FY 2016.

Incorporated in 2007, Gujarat-based Eris Lifesciences undertakes research and development (R&D) and manufactures and sells branded pharmaceutical products in select therapeutic areas within the chronic and acute categories of the Indian pharmaceutical market (IPM).

The categories include cardiovascular, anti-diabetics, vitamins, gastroenterology and anti-infectives. The focus is on developing products in the chronic and acute categories that are linked to lifestyle-related disorders.

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Country Club jumps over 10% in two sessions
Jun 29,2017

Meanwhile, the S&P BSE Sensex was up 228.53 points, or 0.74% to 31,062.85.

On the BSE, 28,000 shares were traded in the counter so far, compared with average daily volumes of 89,925 shares in the past one quarter. The stock had hit a high of Rs 14.39 and a low of Rs 13.87 so far during the day. The stock hit a 52-week high of Rs 17.54 on 7 November 2016. The stock hit a 52-week low of Rs 11.68 on 28 March 2017.

The stock had outperformed the market over the past one month till 28 June 2017, rising 3.45% compared with 1.04% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 13.94% as against Sensexs 4% rise. The scrip had also outperformed the market in past one year, rising 11.46% as against Sensexs 15.31% rise.

The small-cap company has equity capital of Rs 32.69 crore. Face value per share is Rs 2.

The board of Country Club Hospitality & Holidays approved to sell, liquidate, transfer or lease back off or dispose such assets of the company which add limited value to the operations and profitability of the company, for the purpose of reduction of debt of the company. The proposal is subject to the approval of shareholders through postal ballot.

The announcement was made after market hours on Tuesday, 27 June 2017. Shares of Country Club Hospitality & Holidays jumped 8.74% to Rs 13.81. The stock has risen 10.24% in two sessions from its close of Rs 12.70 on 27 June 2017.

Country Club Hospitality & Holidays reported net loss of Rs 2.24 crore in Q4 March 2017 as compared with net profit of Rs 0.91 crore in Q4 March 2016. Net sales fell 19.16% to Rs 66.56 crore in Q4 March 2017 over Q4 March 2016.

Country Club Hospitality & Holidays offers leisure hospitality membership services in India.

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Nalco shines after govt plans to expand capacity
Jun 29,2017

The Ministry of Mines made the announcement after market hours yesterday, 28 June 2017.

Meanwhile, the S&P BSE Sensex was up 186.08 points or 0.6% at 31,024.39.

On the BSE, 6,591 shares were traded on the counter so far as against the average daily volumes of 3.3 lakh shares in the past one quarter. The stock had hit a high of Rs 65.45 and a low of Rs 64.60 so far during the day. The stock had hit a 52-week high of Rs 79.85 on 7 March 2017 and a 52-week low of Rs 41.25 on 28 June 2016.

The stock has gained 6.08% in three sessions to its ruling price from a close of Rs 61.60 on 23 June 2017.

The stock had underperformed the market over the past one month till 28 June 2017, falling 5.42% compared with 0.62% fall in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 12.58% as against Sensexs 4.84% gains. The scrip, however, outperformed the market in past one year, gaining 55.29% as against Sensexs 16.25% gains.

The large-cap company has equity capital of Rs 966.46 crore. Face value per share is Rs 5.

The Ministry of Mines in order to clear any misleading information clarified that National Aluminum Company (Nalco) is a prestigious Navratna Central Public Sector Enterprise and the central government appreciates its role in the progress of the country as well as Odisha.

The central government is making all possible efforts to improve and further expand the capacity of the company so that it becomes a major producer of aluminum in India as well as at global level.

The Ministry of Mines is facilitating the company for enhancing its production capacity of alumina refinery by setting up of 1 million tonnes per annum (MTPA) alumina refinery (Stream-5), Damanjodi under phase-3 expansion of M&R unit at an estimated cost of Rs 5540 crore.

To augment the bauxite reserves of the company, the central government has recently extended the reservation of Potangi mines in favour of the company for further 5 years.

The clarification was issued yesterday, 28 June 2017 after a news item appearing in some section of the press that Government of India is trying to privatise the company through buyback and offer for sale (OFS). Due to such news items, Nalco is facing agitation by its workers.

Nalcos net profit increased 25.4% to Rs 268.37 crore on 28.3% rise in net sales to Rs 2423.26 crore in Q4 March 2017 over Q4 March 2016.

State-run Nalco has integrated and diversified operations in mining, metal and power. The GoI held 74.58% stake in Nalco as per the shareholding pattern as on 31 March 2017.

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Nucleus Software declines ex-dividend
Jun 29,2017

Meanwhile, the S&P BSE Sensex was up 174.66 points, or 0.57% at 31,008.98. The S&P BSE Small-Cap index was up 168.02 points, or 1.11% at 15,329.34.

On the BSE, 1,617 shares were traded on the counter so far as against the average daily volumes of 20,974 shares in the past one quarter. The stock had hit a high of Rs 334.85 and a low of Rs 327 so far during the day. The stock had hit a 52-week high of Rs 343.90 on 22 May 2017 and a 52-week low of Rs 171 on 29 September 2016.

The stock had outperformed the market over the past one month till 28 June 2017, advancing 2.42% compared with the Sensexs 0.62% fall. The scrip had also outperformed the market over the past one quarter gaining 34.91% as against the Sensexs 4.84% rise. The scrip had also outperformed the market over the past one year advancing 56.15% as against the Sensexs 16.25% rise.

The small-cap company has equity capital of Rs 32.38 crore. Face value per share is Rs 10.

Before turning ex-dividend, the stock offered a dividend yield of 1.47% based on the closing price of Rs 338.70 yesterday, 28 June 2017.

Nucleus Software Exports consolidated net profit rose 39.82% to Rs 22.26 crore on 0.59% increase in net sales to Rs 93.69 crore in Q4 March 2017 over Q3 December 2016.

Nucleus Software Exports is the leading provider of lending and transaction banking products to the global financial services industry.

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Axis Bank advances after raising capital
Jun 29,2017

The announcement was made after market hours yesterday, 28 June 2017.

Meanwhile, the S&P BSE Sensex was up 156.10 points or 0.51% at 30,979.01.

On the BSE, 26,862 shares were traded on the counter so far as against the average daily volumes of 6.04 lakh shares in the past two weeks. The stock had hit a high of Rs 503.25 and a low of Rs 497 so far during the day.

Axis Bank announced that it has successfully issued Rs 3500 crore Basel III compliant additional tier 1 debentures through private placement to augment the tier 1 capital base. The perpetual debentures with a 5 year call are priced at a fine coupon rate of 8.75%.

The board of directors of the bank had yesterday, 28 June 2017, approved the allotment of 35,000 unsecured subordinated perpetual additional tier 1 Basel III compliant non-convertible debentures of the face value of Rs 10 lakh each for cash at par aggregating to Rs 3500 crore, on a private placement basis.

On 22 June 2017, the bank had said that it proposes to raise funds by issuing unsecured, subordinated, perpetual, additional tier 1, Basel III compliant NCDs of the face value of Rs 10 lakh each for cash at par aggregating to Rs 3500 crore.

Separately, Axis Bank announced before market hours today, 29 June 2017 that the Reserve Bank of India (RBI) issued directions in its communication dated 15 June 2017 advising banks to initiate insolvency resolution process in select accounts under the provisions of the Insolvency and Bankruptcy Code, 2015 (IBC). Axis Bank had exposure on 8 of these accounts.

Total fund based outstanding of the bank on these accounts was Rs 5071 crore. Non-fund based outstanding was Rs 212 crore as on 31 March 2017. Around 80% of the outstanding was secured. Against this outstanding, the provision held was Rs 2497 crore.

Axis Banks net profit fell 43.1% to Rs 1225.10 crore on 4.3% growth in total income to Rs 14181.31 crore in Q4 March 2017 over Q4 March 2016.

Axis Bank is one of the biggest private sector banks in India.

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Vimta Labs reverses recent rally
Jun 28,2017

Meanwhile, the S&P BSE Sensex was down 125.79 points, or 0.41% at 30,832.46. The S&P BSE Small-Cap index was up 18.40 points, or 0.12% at 15,159.48.

On the BSE, 29,000 shares were traded on the counter so far as against the average daily volumes of 46,598 shares in the past one quarter. The stock had hit a high of Rs 142 and a low of Rs 137.20 so far during the day. The stock had hit a 52-week high of Rs 153.90 on 27 June 2017. The stock had hit a 52-week low of Rs 68.75 on 28 June 2016.

The stock had outperformed the market over the past one month till 27 June 2017, rising 18.83% compared with 0.23% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 30.1% as against Sensexs 5.89% rise. The scrip had also outperformed the market in past one year, surging 102.22% as against Sensexs 17.25% rise.

The small-cap company has equity capital of Rs 4.42 crore. Face value per share is Rs 2.

Vimta Labs net profit rose 32.6% to Rs 2.40 crore on 19.9% increase in net sales to Rs 39.47 crore in Q4 March 2017 over Q4 March 2016.

Vimta Labs is engaged in the business of contract research and testing services. The company provides services of testing and contract research in the fields of clinical and pre-clinical studies, clinical reference, analytical testing, advanced molecular biology and environmental studies.

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Indiabulls Real Estate garners 7.92% in three sessions
Jun 28,2017

The announcement was made after market hours yesterday, 27 June 2017.

The stock has gained 7.92% in three sessions to its ruling price from a close of Rs 191.80 on 22 June 2017.

Meanwhile, the S&P BSE Sensex was down 139.54 points or 0.45% at 30,818.71. The S&P BSE Mid-Cap index was up 21.61 points or 0.15% at 14,490.49.

On the BSE, 16.99 lakh shares were traded on the counter so far as against the average daily volumes of 39.9 lakh shares in the past one quarter. The stock had hit a high of Rs 209.60 and a low of Rs 204.25 so far during the day. The stock had hit a 52-week high of Rs 217.40 on 21 June 2017 and a 52-week low of Rs 57.05 on 22 November 2016.

The stock had outperformed the market over the past one month till 27 June 2017, gaining 26.38% compared with 0.23% fall in the Sensex. The scrip had also outperformed the market in past one quarter, jumping 152.29% as against Sensexs 5.89% rise. The scrip had also outperformed the market in past one year, surging 131.87% as against Sensexs 17.25% rise.

The mid-cap company has equity capital of Rs 94.93 crore. Face value per share is Rs 2.

Indiabulls Real Estate has acquired the entire minority stake of 10.08% in Indiabulls Infraestate (IIL), a majority owned material subsidiary of the company, from ILFS Fund entities namely IIRF India Realty XXI, Little Fairy and Vistra ITCL (India), its minority investors.

The aggregate cash consideration paid for the acquisition is Rs 358.44 crore, including interest of Rs 94.85 crore against their aggregate total investment of Rs 250 crore. With this acquisition, IIL has become a wholly owned subsidiary of the company. IIL is developing a premium integrated marque residential project Indiabulls Blu in Worli, Mumbai comprising of 4 residential towers and additionally 2 office towers in the non residential area.

On consolidated basis, Indiabulls Real Estates net profit fell 3.7% to Rs 60.18 crore on 38.4% decline in net sales to Rs 437.03 crore in Q4 March 2017 over Q4 March 2016.

Indiabulls Real Estate is a real estate development company with development projects spread across office and commercial complexes, premium residential developments, mega townships, retail spaces, hotel and resorts, special economic zones and infrastructure development.

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Maruti Suzuki India inches up after brokerage upgrade
Jun 28,2017

Meanwhile, the S&P BSE Sensex was down 112.65 points, or 0.36% to 30,845.61

On the BSE, 36,000 shares were traded in the counter so far, compared with average daily volumes of 60,622 shares in the past one quarter. The stock had hit a high of Rs 7,322.45 and a low of Rs 7,207 so far during the day. The stock hit a record high of Rs 7,469 on 9 June 2017. The stock hit a 52-week low of Rs 4,008 on 27 June 2016.

The stock had outperformed the market over the past one month till 27 June 2017, rising 0.81% compared with 0.23% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 21.05% as against Sensexs 5.89% rise. The scrip had also outperformed the market in past one year, surging 76.53% as against Sensexs 17.25% rise.

The large-cap company has equity capital of Rs 151.04 crore. Face value per share is Rs 5.

A foreign brokerage house reportedly retained its buy call on Maruti Suzuki India and raised target price on the stock to Rs 8,824 from Rs 7,412 earlier. The stock will continue to trade at premium valuations due to high growth visibility and consistently improving free cash flow due to limited capex requirements, the brokerage house said.

Maruti Suzuki Indias net profit rose 15.8% to Rs 1709 crore on 20.3% growth in net sales to Rs 18005.20 crore in Q4 March 2017 over Q4 March 2016.

Maruti Suzuki India is Indias biggest car maker in terms of market share. Japanese parent Suzuki Motor Corporation currently holds 56.21% stake in Maruti Suzuki India (as per the shareholding pattern as on 31 March 2017).

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Indian Hume Pipe advances on bargain hunting
Jun 28,2017

Meanwhile, the S&P BSE Sensex was down 107.48 points, or 0.35% at 30,850.77. The S&P BSE Small-Cap index was up 24.40 points, or 0.16% at 15,165.48.

On the BSE, 7,417 shares were traded on the counter so far as against the average daily volumes of 13,083 shares in the past one quarter. The stock had hit a high of Rs 506.75 and a low of Rs 479.75 so far during the day. The stock had hit a record high of Rs 546.50 on 20 June 2017 and a 52-week low of Rs 162.55 on 27 June 2016.

The stock had outperformed the market over the past one month till 27 June 2017, advancing 14.72% compared with the Sensexs 0.23% fall. The scrip had also outperformed the market over the past one quarter gaining 31.02% as against the Sensexs 5.89% rise. The scrip had also outperformed the market over the past one year advancing 181.39% as against the Sensexs 17.25% rise.

The small-cap company has equity capital of Rs 9.69 crore. Face value per share is Rs 2.

Shares of Indian Hume Pipe Company had declined 7.72% in the preceding four trading sessions to settle at Rs 485.90 yesterday, 27 June 2017, from its closing price of Rs 526.55 on 20 June 2017.

Shares of Indian Hume Pipe Company turned ex-dividend today, 28 June 2017, for final dividend of Rs 2.40 per share for the financial year ended 31 March 2017. Before turning ex-dividend, the stock offered a dividend yield of 0.49% based on the closing price of Rs 485.90 yesterday, 27 June 2017.

Indian Hume Pipe Companys net profit spurted 252.5% to Rs 33.24 crore on 64% increase in net sales to Rs 488.01 crore in Q4 March 2017 over Q4 March 2016.

Indian Hume Pipe Company is engaged in the business of providing integrated water supply schemes including manufacturing, laying and jointing of pipelines of various pipe materials which provide infrastructure facility for development of water supply and irrigation projects.

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Fortis Healthcare gets healthier after buzz of listing diagnostics arm
Jun 28,2017

Meanwhile, the S&P BSE Sensex was down 93.57 points, or 0.3%, to 30,864.68. The S&P BSE Mid-Cap index was up 38.07 points, or 0.26%, to 14,506.95.

On the BSE, 5.35 lakh shares were traded in the counter so far, compared with an average volume of 9.39 lakh shares in the past one quarter. The stock had hit a high of Rs 171.85 and a low of Rs 166.75 so far during the day.

The stock had hit a record high of Rs 230.90 on 3 May 2017. The stock had hit a 52-week low of Rs 142.60 on 9 November 2016.

The stock had underperformed the market over the past one month till 27 June 2017, falling 18.59% compared with 0.23% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 7.17% as against Sensexs 5.89% rise. The scrip had also underperformed the market in past one year, gaining 5.7% as against Sensexs 17.25% rise.

The mid-cap company has an equity capital of Rs 518.46 crore. Face value per share is Rs 10.

A news agency reported that as a part of its scheme of demerger from their parent Fortis Healthcare, diagnostic chain, SRL Diagnostics (SRL) is likely to be listed on Indian bourses by August.

According to reports, the next hearing on the demerger plan in the National Company Law Tribunal (NCLT) has been scheduled for 29 June 2017, after five hearings till date.

Brothers Shivinder and Malvinder Singh, promoter of the company initiated a major corporate restructuring in August 2016.

SRL was spun off from Fortis to merge into its existing listed subsidiary Fortis Malar Hospitals and was renamed SRL Diagnostics.

The stock had dropped 16.62% in two sessions to Rs 165.05 yesterday, 27 June 2017 from a close of Rs 197.95 on 22 June 2017 triggered by reports suggesting IHH Healthcare Berhad is not close to concluding any negotiations to buy controlling stake in the company. Earlier reports had suggested that IHH Healthcare Bhd will be buying a controlling stake in Fortis Healthcare and SRL Logistics from Malvinder and Shivinder Mohan Singh, the promoters of the company.

With regards to news titled n++HH Pulls Plug on Fortis Deal Over Daiichi Scaren++, the company clarified during market hours on 23 June 2017 that the company is still evaluating possible way to raise fund and no firm decision in the regard has been approved by the board till date.

Fortis Healthcare reported consolidated net loss of Rs 37.52 crore in Q4 March 2017 compared with net loss of Rs 87.6 crore in Q4 March 2016. Net sales rose 5% to Rs 1123.43 crore in Q4 March 2017 over Q4 March 2016.

Fortis Healthcare is a leading integrated healthcare delivery service provider in India.

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3i Infotech jumps after prepaying debt
Jun 28,2017

The announcement was made during market hours today, 28 June 2017.

Meanwhile, the S&P BSE Sensex was down 156.62 points, or 0.51%, to 30,801.63. The S&P BSE Small-Cap index was down 10.42 points, or 0.07%, to 15,130.66.

Huge volumes were witnessed on the counter. On the BSE, 9.89 lakh shares were traded in the counter so far, compared with average daily volume of 4.98 lakh shares in the past one quarter. The stock had hit a high of Rs 4.75 in intraday trade. The stock had hit a low of Rs 4.02 so far during the day, which is also a 52-week low for the stock. The stock had hit a 52-week high of Rs 7.20 on 24 October 2016.

The stock had dropped 7.88% in six sessions to Rs 4.09 yesterday, 27 June 2017, from a close of Rs 4.44 on 16 June 2017.

The stock had underperformed the market over the past one month till 27 June 2017, falling 14.79% compared with 0.23% fall in the Sensex. The scrip had also underperformed the market in past one quarter, declining 20.43% as against Sensexs 5.89% rise. The scrip had also underperformed the market in past one year, dropping 14.08% as against Sensexs 17.25% rise.

The small-cap company has an equity capital of Rs 1245.98 crore. Face value per share is Rs 10.

3i Infotech said that the amount represents 6 monthly installments of the principal amount which were due for repayment from 30 April 2018 as per the terms of the Debt Realignment Scheme (DRS) approved by its lenders.

The company continues to service its lenders on a regular basis from the effective date of implementation of DRS from 1 April 2016.

3i Infotechs consolidated net profit rose 75.38% to Rs 33.34 crore on 3.03% rise in net sales to Rs 255.52 crore in Q4 March 2017 over Q3 December 2016.

3i Infotech provides software solutions and a wide range of IT services.

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