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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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GNA Axles gains after bulk deal
Jun 28,2017

Meanwhile, the S&P BSE Sensex was down 65.40 points, or 0.21% at 30,892.85. The S&P Small-Cap index was up 41.99 points or 0.28% at 15,183.07.

Bulk deal boosted volume on the scrip. On the BSE, 8.69 lakh shares were traded in the counter so far, compared with average daily volumes of 15,174 shares in the past one quarter. The stock had hit a high of Rs 236.70 and a low of Rs 228.05 so far during the day. The stock hit a record high of Rs 275.55 on 10 October 2016. The stock hit a record low of Rs 171.10 on 22 November 2016.

The stock had outperformed the market over the past one month till 27 June 2017, rising 7.42% compared with 0.23% fall in the Sensex. The scrip had also underperformed the market in past one quarter, rising 4.97% as against Sensexs 5.89% rise.

Shares of GNA Axles had debuted at Rs 248.50, a premium of 20.05% over its initial public offer (IPO) price of Rs 207 per share on 26 September 2016. The stock had settled at Rs 245.15, a premium of 18.43% over its IPO price on debut.

The IPO of GNA Axles had seen strong response from investors. Bidding for the IPO ended on 16 September 2016. The IPO received bids for 24.52 crore shares and it was subscribed 54.88 times. The IPO price band was Rs 205 to Rs 207 per share.

GNA Axles net profit fell 16.76% to Rs 6.11 crore on 4.45% fall in total income to Rs 127.84 crore in Q4 March 2017 over Q4 March 2016.

GNA Axles is into manufacturing of rear axle shafts used in on-highway and off-highway vehicular segments in India.

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Volumes jump at GNA Axles counter
Jun 28,2017

GNA Axles clocked volume of 8.66 lakh shares by 12:36 IST on BSE, a 39.37-times surge over two-week average daily volume of 22,000 shares. The stock was up 2.13% at Rs 235 after a bulk deal of 8.56 lakh shares was executed on the scrip at Rs 229 per share at 12:23 IST on BSE.

JSW Steel notched up volume of 23.25 lakh shares, a 6.22-fold surge over two-week average daily volume of 3.74 lakh shares. The stock gained 1.29% at Rs 196.65.

AIA Engineering saw volume of 1.01 lakh shares, a 6.04-fold surge over two-week average daily volume of 17,000 shares. The stock declined 0.58% at Rs 1,338.50.

Jaypee Infratech clocked volume of 50.1 lakh shares, a 5.2-fold surge over two-week average daily volume of 9.64 lakh shares. The stock jumped 12.12% at Rs 16.75.

Pidilite Industries saw volume of 1.25 lakh shares, a 4.77-fold rise over two-week average daily volume of 26,000 shares. The stock declined 1.66% at Rs 793.50.

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GMDC recovers after recent sharp slide
Jun 28,2017

Meanwhile, the S&P BSE Sensex was down 60.99 points, or 0.2% at 30,897.26. The S&P BSE Mid-Cap index was up 45.19 points, or 0.31% at 14,514.07.

On the BSE, 1.23 lakh shares were traded on the counter so far as against the average daily volumes of 1.61 lakh shares in the past one quarter. The stock had hit a high of Rs 144.70 and a low of Rs 136 so far during the day. The stock had hit a 52-week high of Rs 159.75 on 19 June 2017 and a 52-week low of Rs 69.50 on 27 June 2016.

The stock had outperformed the market over the past one month till 27 June 2017, advancing 2.12% compared with the Sensexs 0.23% fall. The scrip had also outperformed the market over the past one quarter advancing 11.4% as against the Sensexs 5.89% rise. The scrip had also outperformed the market over the past one year advancing 93.38% as against the Sensexs 17.25% rise.

The mid-cap company has equity capital of Rs 63.60 crore. Face value per share is Rs 2.

Shares of Gujarat Mineral Development Corporation had declined 11.87% in the preceding five trading sessions to settle at Rs 137.30 yesterday, 27 June 2017, from its closing price of Rs 155.80 on 19 June 2017.

Gujarat Mineral Development Corporations net profit spurted 127.6% to Rs 90.01 crore on 48.8% increase in net sales to Rs 525.49 crore in Q4 March 2017 over Q4 March 2016.

Gujarat Mineral Development Corporation (GMDC) is primarily engaged in exploration and development of mineral resources. The Gujarat state government currently holds 74% stake in GMDC (as per the shareholding pattern as on 31 March 2017).

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Raymond in fashion after buzz of investment in unit
Jun 28,2017

Meanwhile, the S&P BSE Sensex was down 38.24 points, or 0.12%, to 30,920.01. The S&P BSE Mid-Cap index was up 49.50 points, or 0.34%, to 14,518.38.

On the BSE, 30,202 shares were traded in the counter so far, compared with average daily volumes of 1.38 lakh shares in the past one quarter. The stock had hit a high of Rs 721 and a low of Rs 701.70 so far during the day.

The stock had hit a record high of Rs 806.70 on 3 May 2017. The stock had hit a 52-week low of Rs 398.15 on 23 August 2016.

The stock had declined 5.91% in three sessions to Rs 699.25 yesterday, 27 June 2017 from a close of Rs 743.20 on 21 June 2017.

The stock had underperformed the market over the past one month till 27 June 2017, falling 3.35% compared with 0.23% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 9.02% as against Sensexs 5.89% rise. The scrip had also outperformed the market in past one year, gaining 52.01% as against Sensexs 17.25% rise.

The small-cap textile and apparel major has equity capital of Rs 61.38 crore. Face value per share is Rs 10.

Raymond reportedly is going to invest Rs 1400 crore in a phased manner in its new plant at Amravati in Maharashtra, which will go live by the year-end.

The new unit that will produce linen and denim, cotton shirts among other, the company has made an initial investment of Rs 200 crore in the first phase. The facility will employ about 8,000 workers when fully operational.

The plant will be used to produce items to meet the demand of Raymonds own brands as well as for other third parties, report said.

The company is on a retail expansion mode with 300 fresh stores likely to open in the next two years, report added.

Raymonds consolidated net profit fell 40.1% to Rs 33.68 crore on 2.5% decline in net sales to Rs 1473.60 crore in Q4 March 2017 over Q4 March 2016.

The Raymond Group was incorporated in 1925 and is a textiles manufacturer. The company makes finest fabrics - from wool to wool-blended worsted suiting to specialty ring denims as well as high value shirting.

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Steel Strips Wheels shines after bagging overseas export order
Jun 28,2017

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

Meanwhile, the S&P BSE Sensex was down 6.25 points, or 0.02% at 30,952. The S&P Small-Cap index was up 56.35 points or 0.37% at 15,197.43.

On the BSE, 780 shares were traded in the counter so far, compared with average daily volumes of 5,311 shares in the past one quarter. The stock had hit a high of Rs 898 and a low of Rs 852.80 so far during the day. The stock hit a record high of Rs 956.60 on 12 June 2017. The stock hit a 52-week low of Rs 435.25 on 27 June 2016.

The stock had underperformed the market over the past one month till 27 June 2017, rising 3.09% compared with 0.23% fall in the Sensex. The scrip had also underperformed the market in past one quarter, rising 4.54% as against Sensexs 5.89% rise. The scrip, however, outperformed the market in past one quarter, surging 94.39% as against Sensexs 17.25% rise.

The small-cap company has equity capital of Rs 15.56 crore. Face value per share is Rs 10.

Steel Strips Wheels announced that the company has bagged export order for supply of Steel wheels for EU Caravan & Canadian Winter market. This order covers supplies of approx 15,500 units of wheels with total order value above $150,000 and would be dispatched by end of July 2017 from the companys Chennai plant. This repeat order strengthens the companys position as a strong player in extremely competitive Caravan & Winter wheels market in EU and Canada, Steel Strips Wheels said.

Net profit of Steel Strips Wheels rose 12.17% to Rs 20.74 crore on 23.07% rise in net sales to Rs 380.15 crore in Q4 March 2017 over Q4 March 2016.

Steel Strips Wheels designs and manufactures automotive steel wheels and is among the leading supplier to Indian and global automobile manufacturers.

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ICICI Bank climbs higher after allotting debentures
Jun 28,2017

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

Meanwhile, the S&P BSE Sensex was down 13.09 points, or 0.04%, to 30,945.16.

On the BSE, 2.54 lakh shares were traded in the counter so far, compared with average daily volume of 17.81 lakh shares in the past one quarter. The stock had hit a high of Rs 293 and a low of Rs 288.20 so far during the day. The stock had hit a 52-week high of Rs 297.73 on 1 June 2017. The stock had hit a 52-week low of Rs 209.05 on 27 June 2016.

The stock had underperformed the market over the past one month till 27 June 2017, falling 1.51% compared with 0.23% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 15.83% as against Sensexs 5.89% rise. The scrip had also outperformed the market in past one year, gaining 36.05% as against Sensexs 17.25% rise.

The large-cap private sector bank has equity capital of Rs 1282.57 crore. Face value per share is Rs 2.

ICICI Bank said that the committee of executive directors of the bank approved the allotment of 21,470 senior, unsecured redeemable long term bonds in the nature of debentures aggregating Rs 2147 crore on private placement basis, deemed date of allotment being 27 June 2017.

The notes were issued in two tranches-Rs 400 crore maturing in 7 years at a coupon of 7.42% per annum payable annually and Rs 1747 crore maturing in 10 years at a coupon of 7.47% per annum payable annually. The notes were issued at par.

On 20 June 2017, the bank had said that the committee of executive directors of the bank approved the proposal for fund raising by way of issuance of senior unsecured long term bonds in the nature of debentures in single/multiple tranches on private placement basis.

ICICI Banks net profit jumped 188.5% to Rs 2024.64 crore on 10.8% decline in total income to Rs 16585.76 crore in Q4 March 2017 over Q4 March 2016.

ICICI Bank is one of the leading private sector banks in India.

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