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Tata Steel hardens after plans to sell shares in Tata Motors
Jun 19,2017

The announcement was made on Saturday, 17 June 2017.

Shares of Tata Motors declined 0.09% to Rs 455.10.

Meanwhile, the S&P BSE Sensex was up 137.68 points or 0.44% at 31,194.08.

On the BSE, 43,890 shares were traded on the counter so far of Tata Steel as against the average daily volumes of 8.08 lakh shares in the past one quarter. The stock had hit a high of Rs 512.50 and a low of Rs 509 so far during the day.

Tata Steel said that the transaction is expected to be executed on or after 23 June 2017 at or around the prevailing price on the date of proposed sale, subject to no material market movements in price since the date of this disclosure.

Tata Sons is the promoter of the major operating Tata companies and holds significant shareholdings in these companies. Tata companies are commonly referred to as the Tata group and the Chairman of Tata Sons as Chairman of the Tata group.

About 66% of the equity capital of Tata Sons is held by philanthropic trusts endowed by members of the Tata family. The largest of these trusts are the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust, which were created by the sons of Jamsetji Nusserwanji Tata, the founder of the group.

Tata Steel held 2.9% stake while Tata Sons held 28.71% stake in Tata Motors, as per the shareholding pattern as on 31 March 2017.

Tata Steel reported consolidated net loss of Rs 1168.02 crore in Q4 March 2017, compared with net loss of Rs 3041.88 crore in Q4 March 2016. The consolidated net sales rose 29.6% to Rs 33424.09 crore in Q4 March 2017 over Q4 March 2016.

Tata Steel is the worlds second-most geographically-diversified steel producer, with operations in 26 countries and commercial presence in over 50 countries.

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Jayant Agro-Organics spurts after board recommends bonus issue
Jun 16,2017

The announcement was made during trading hours today, 16 June 2017.

Meanwhile, the S&P BSE Sensex was down 33.80 points, or 0.11% to 31,041.93.

On the BSE, 64,000 shares were traded in the counter so far, compared with average daily volumes of 11,912 shares in the past one quarter. The stock had hit a high of Rs 1,038 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 980 so far during the day. The stock hit a 52-week low of Rs 203.50 on 16 June 2016.

The stock had underperformed the market over the past one month till 15 June 2017, falling 0.79% compared with 1.36% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 50.09% as against Sensexs 4.81% rise. The scrip had also outperformed the market in past one year, rising 369.68% as against Sensexs 17.15% rise.

The small-cap company has equity capital of Rs 7.50 crore. Face value per share is Rs 5.

Jayant Agro-Organics said the recommendation to issue bonus shares is subject to the approval of shareholders of the company at the annual general meeting.

Further, the board also recommended raising upto Rs 250 crore through issue of securities on private placement basis.

Jayant Agro-Organics consolidated net profit surged 94.88% to Rs 15.59 crore on 12.71% growth in net sales to Rs 420.56 crore in Q4 March 2017 over Q4 March 2016.

Jayant Agro-Organics is an emerging global oleochemical company with leadership in the castor-based specialty chemicals industry.

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Volumes jump at Ipca Laboratories counter
Jun 16,2017

Ipca Laboratories clocked volume of 6.87 lakh shares by 14:20 IST on BSE, a 135.42-times surge over two-week average daily volume of 5,000 shares. The stock slumped 9.84% to Rs 462.65 after the company said that drugs manufactured at its facilities at SEZ Indore (Pithampur), Piparia (Silvassa) and Ratlam (Madhya Pradesh) have been banned from the US market by the US Food and Drug Administration (USFDA). The drug regulator cited violation of current good manufacturing norms for taking the step against the company. The announcement was made after market hours yesterday, 15 June 2017.

Vesuvius India notched up volume of 70,000 shares, a 20.88-fold surge over two-week average daily volume of 3,000 shares. The stock declined 1.23% to Rs 1,260.

HDFC saw volume of 20 lakh shares, a 12.03-fold surge over two-week average daily volume of 1.66 lakh shares. The stock rose 0.49% to Rs 1,645.85.

Torrent Pharmaceuticals clocked volume of 1.03 lakh shares, a 11.96-fold surge over two-week average daily volume of 9,000 shares. The stock fell 2.07% to Rs 1,210.80.

Aban Offshore saw volume of 16.88 lakh shares, a 11.93-fold rise over two-week average daily volume of 1.42 lakhs shares. The stock jumped 11.73% to Rs 194.35.

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DFM Foods recovers after recent sharp slide
Jun 16,2017

Meanwhile, the S&P BSE Sensex was up 31.04 points, or 0.1% at 31,106.77. The S&P BSE Small-Cap index was up 51.30 points, or 0.33% at 15,697.19.

High volumes were traded on the counter. On the BSE, 2,908 shares were traded on the counter so far as against the average daily volumes of 2,454 shares in the past one quarter. The stock had hit a high of Rs 1,299 and a low of Rs 1,205.95 so far during the day. The stock had hit a record high of Rs 2,433.60 on 17 June 2016 and a 52-week low of Rs 1,122 on 7 June 2017.

The stock had underperformed the market over the past one month till 15 June 2017, declining 28.12% compared with the Sensexs 2.49% rise. The scrip had also underperformed the market over the past one quarter declining 30.79% as against the Sensexs 5.71% rise. The scrip had also underperformed the market over the past one year declining 47.7% as against the Sensexs 16.27% rise.

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

Shares of DFM Foods had declined 11.52% in the preceding five trading sessions to settle at Rs 1,202.15 yesterday, 15 June 2017, from its close of Rs 1,358.70 on 8 June 2017.

DFM Foods net profit fell 68.5% to Rs 3.66 crore on 24.2% decrease in net sales to Rs 93.17 crore in Q4 March 2017 over Q4 March 2016.

DFM Foods is engaged in manufacturing and marketing of snack foods.

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Pharma stocks witness selling pressure
Jun 16,2017

IPCA Laboratories (down 11.22%), Lupin (down 4.23%), Divis Laboratories (down 2.25%), Cadila Healthcare (down 2.14%), Cipla (down 1.78%), Sun Pharmaceutical Industries (down 1.75%), Dr Reddys Laboratories (down 1.23%), Strides Shasun (down 0.97%), Piramal Enterprises (down 0.56%) and Wockhardt (down 0.07%), edged lower. Glenmark Pharmaceuticals (up 0.31%), Alkem Laboratories (up 0.41%), GlaxoSmithKline Pharmaceuticals (up 0.75%) and Aurobindo Pharma (up 1.76%), edged higher.

The S&P BSE Sensex was up 34.56 points, or 0.11% at 31,110.29.

According to media reports, US President Donald Trumps administration is preparing an executive order aimed at lowering US drug costs. Officials in the administration will meet later today, 16 June 2017.

One policy being discussed for inclusion in the order is expressing support for value-based agreements, a drug industry-backed proposal in which pharmaceutical companies and health insurers develop arrangements to pay for products depending on how well they work, reports added.

A domestic brokerage reportedly said that this move could further create pricing pressure and hurt Indian pharma companies that are already facing regulatory issues and currency woes. The broker continued to remain cautious on the sector, reports added.

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Aban Offshore leads gainers on BSEs A group
Jun 16,2017

Aban Offshore rose 12.96% at Rs 196.50. The stock topped the gainers in A group. On the BSE, 14.88 lakh shares were traded on the counter so far as against the average daily volumes of 1.42 lakh shares in the past two weeks.

Firstsource Solutions rose 5.56% at Rs 32.25. The stock was the second biggest gainer in A group. On the BSE, 5.04 lakh shares were traded on the counter so far as against the average daily volumes of 4.16 lakh shares in the past two weeks.

VA Tech Wabag rose 5.46% at Rs 727. The stock was the third biggest gainer in A group. On the BSE, 54,000 shares were traded on the counter so far as against the average daily volumes of 7,798 shares in the past two weeks.

GVK Power & Infrastructure rose 5% at Rs 6.30. The stock was the fourth biggest gainer in A group. On the BSE, 12.15 lakh shares were traded on the counter so far as against the average daily volumes of 11 lakh shares in the past two weeks.

Gujarat Mineral Development Corporation (GMDC) rose 4.97% at Rs 153. The stock was the fifth biggest gainer in A group. On the BSE, 1 lakh shares were traded on the counter so far as against the average daily volumes of 1.69 lakh shares in the past two weeks.

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Deepak Fertilisers gains after getting pending subsidy payment
Jun 16,2017

The announcement was made after market hours yesterday, 15 June 2017.

Meanwhile, the S&P BSE Sensex was up 25.67 points, or 0.08% to 31,101.40.

On the BSE, 18,000 shares were traded in the counter so far, compared with average daily volumes of 4.27 lakh shares in the past one quarter. The stock had hit a high of Rs 273.35 and a low of Rs 268.50 so far during the day. The stock hit a record high of Rs 293.40 on 21 April 2017. The stock hit a 52-week low of Rs 150.20 on 24 June 2016.

The stock had outperformed the market over the past one month till 15 June 2017, rising 3.92% compared with 1.36% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 0.17% as against Sensexs 4.81% rise. The scrip had outperformed the market in past one year, rising 68% as against Sensexs 17.15% rise.

The small-cap company has equity capital of Rs 88.20 crore. Face value per share is Rs 10.

Deepak Fertilisers and Petrochemicals Corporation (DFPCL) said that the Department of Fertilisers (DoF), Ministry of Chemicals and Fertilisers, Government of India, has decided to release the pending Rs 310.52 crore fertiliser subsidy on a bank guarantee of equivalent amount. DoF had withheld the subsidy pending decision on recovery of alleged undue gain on account of supply of cheap gas.

Deepak Fertilisers and Petrochemicals Corporation (DFPCL) net profit surged 104.9% to Rs 46.62 crore on 4.7% decline in net sales to Rs 1050.50 crore in Q3 December 2016 over Q3 December 2015.

DFPCL has a multi-product portfolio spanning industrial chemicals, bulk and specialty fertilisers, farming diagnostics and solutions, technical ammonium nitrate, mining services and consulting and value added real estate.

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Pennar Industries crawls up on plans to set up JV in US
Jun 16,2017

The announcement was made after market hours yesterday, 15 June 2017.

Meanwhile, the S&P BSE Sensex fell 6.04 points or 0.02% to 31,069.69. The S&P BSE Small-Cap index rose 44.21 points or 0.28% to 15,690.10.

On the BSE, 62,673 shares were traded in the counter so far, compared with average daily volumes of 1.34 lakh shares in the past one quarter. The stock had hit a high of Rs 56.80 and a low of Rs 55.80 so far during the day. The stock had hit a 52-week high of Rs 58 on 13 June 2017. The stock had hit a 52-week low of Rs 39.50 on 21 November 2016.

The stock had outperformed the market over the past one month till 15 June 2017, rising 12.36% compared with 2.49% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 27.61% as against Sensexs 5.71% rise. The scrip had outperformed the market in past one year, gaining 24.72% as against Sensexs 16.27% rise.

The small-cap company has equity capital of Rs 60.17 crore. Face value per share is Rs 5.

Pennar Industries said that the company and Pennar Engineered Building Systems intend to set up a 50:50 joint venture (JV) in United States of America to supply their goods and services.

The JV will help both the companies to increase their addressable market and contribute to an increase in revenue and profitability.

On 13 June 2017, the company had said it received orders worth Rs 255 crore.

On a consolidated basis, net profit of Pennar Industries rose 10.8% to Rs 18.02 crore on 32.6% rise in net sales to Rs 464.87 crore in Q4 March 2017 over Q4 March 2016.

Pennar Industries offers specialized, engineered steel solutions. The company has a strong presence across growth sectors in India through four business units, steel products, tubes, industrial components and systems & projects, and its subsidiary companies, Pennar Engineered Building Systems, Pennar Renewables and Pennar Enviro.

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Pennar Industries crawls up on plans to set up JV
Jun 16,2017

The announcement was made after market hours yesterday, 15 June 2017.

Meanwhile, the S&P BSE Sensex fell 6.04 points or 0.02% to 31,069.69. The S&P BSE Small-Cap index rose 44.21 points or 0.28% to 15,690.10.

On the BSE, 62,673 shares were traded in the counter so far, compared with average daily volumes of 1.34 lakh shares in the past one quarter. The stock had hit a high of Rs 56.80 and a low of Rs 55.80 so far during the day. The stock had hit a 52-week high of Rs 58 on 13 June 2017. The stock had hit a 52-week low of Rs 39.50 on 21 November 2016.

The stock had outperformed the market over the past one month till 15 June 2017, rising 12.36% compared with 2.49% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 27.61% as against Sensexs 5.71% rise. The scrip had outperformed the market in past one year, gaining 24.72% as against Sensexs 16.27% rise.

The small-cap company has equity capital of Rs 60.17 crore. Face value per share is Rs 5.

Pennar Industries said that the company and Pennar Engineered Building Systems intend to set up a 50:50 joint venture (JV) in United States of America to supply their goods and services.

The JV will help both the companies to increase their addressable market and contribute to an increase in revenue and profitability.

On 13 June 2017, the company had said it received orders worth Rs 255 crore.

On a consolidated basis, net profit of Pennar Industries rose 10.8% to Rs 18.02 crore on 32.6% rise in net sales to Rs 464.87 crore in Q4 March 2017 over Q4 March 2016.

Pennar Industries offers specialized, engineered steel solutions. The company has a strong presence across growth sectors in India through four business units, steel products, tubes, industrial components and systems & projects, and its subsidiary companies, Pennar Engineered Building Systems, Pennar Renewables and Pennar Enviro.

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Century Plyboards (India) gains after unit buys stake in Huesoulin Wood Processing Factory
Jun 16,2017

The announcement was made after market hours yesterday, 15 June 2017.

Meanwhile, the S&P BSE Sensex was up 9.11 points, or 0.03% to 31,084.84.

On the BSE, 19,000 shares were traded in the counter so far, compared with average daily volumes of 27,035 shares in the past one quarter. The stock had hit a high of Rs 312.95 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 307.65 so far during the day. The stock hit a 52-week low of Rs 154.50 on 22 December 2016.

The stock had outperformed the market over the past one month till 15 June 2017, rising 14.04% compared with 1.36% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 25.62% as against Sensexs 4.81% rise. The scrip had also outperformed the market in past one year, rising 52.93% as against Sensexs 17.15% rise.

The mid-cap company has equity capital of Rs 22.22 crore. Face value per share is Re 1.

Century Plyboards (India) said its subsidiary, Century Ply (Singapore), in Singapore has acquired 49% stake in Huesoulin Wood Processing Factory Company, thereby making it an associate company. Huesoulin Wood Processing Factory Company is engaged in manufacturing and trading in plywood, veneer and all wood products and providing related services.

Net profit of Century Plyboards (India) rose 34.4% to Rs 55.91 crore on 9.3% rise in net sales to Rs 488.54 crore in Q4 March 2017 over Q4 March 2016.

Century Plyboards (India) is the largest seller of multi-use plywood and decorative veneers in the Indian organized plywood market.

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Rane Holdings zooms 57% in twelve sessions
Jun 16,2017

Meanwhile, the S&P BSE Sensex was up 40.11 points, or 0.13% at 31,115.84. The S&P BSE Small-Cap index was up 58.76 points, or 0.38% at 15,704.65.

On the BSE, 6,675 shares were traded on the counter so far as against the average daily volumes of 4,854 shares in the past two weeks. The stock had hit a high of Rs 1,793.95 so far during the day, which is also its record high. The stock hit a low of Rs 1,640 so far during the day. The stock had hit a 52-week low of Rs 575 on 20 June 2016.

Shares of Rane Holdings surged 57% in twelve trading sessions to its current ruling price of Rs 1,763.35, from a close of Rs 1,123.10 on 30 May 2017.

Rane Holdings consolidated net profit spurted 98.9% to Rs 43.56 crore on 23.6% increase in total income to Rs 859.35 crore in Q4 March 2017 over Q4 March 2016.

Rane Holdings is the holding company of the Chennai-based Rane Group, an acknowledged leader in the manufacture of auto components.

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RIL nudges higher after expanding partnership with BP
Jun 16,2017

The announcement was made after market hours yesterday, 15 June 2017.

Meanwhile, the S&P BSE Sensex was up 1.74 points, or 0.01% to 31,077.47.

On the BSE, 4.07 lakh shares were traded in the counter so far, compared with average daily volumes of 66.56 lakh shares in the past one quarter. The stock had hit a high of Rs 1,395 and a low of Rs 1,370.10 so far during the day. The stock had hit a 52-week high of Rs 1,465 on 25 April 2017. The stock had hit a 52-week low of Rs 932 on 9 November 2016.

The stock had outperformed the market over the past one month till 15 June 2017, gaining 3.04% compared with 2.49% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 6.14% as against Sensexs 5.71% rise. The scrip had outperformed the market in past one year, rising 40.93% as against Sensexs 16.27% rise.

The large-cap company has equity capital of Rs 3251.57 crore. Face value per share is Rs 10.

Reliance Industries (RIL) and BP announced that they are moving forward to develop already-discovered deepwater gas fields, bringing new gas production for India. The two companies have agreed to deepen and expand their partnership to work jointly across a wide range of areas throughout Indias energy sector.

RIL and BP announced that they will award contracts to progress development of the R-Series deep water gas fields in Block KGD6 off the east coast of India. The R-series (D34) project is a dry gas development in water-depths of more than 2,000 metres, approximately 70 kilometres offshore. The R-series fields will be developed as a subsea tieback to the existing control and riser platform off Block KGD6. The project is expected to produce up to 12 million cubic metres (425 million cubic feet) of gas a day, coming on stream in 2020.

This is the first of three planned projects in Block KGD6 that are expected to be developed in an integrated manner, producing from about 3 trillion cubic feet of discovered gas resources. RIL and BP plan to submit development plans for the next two projects for Government approval before the end of 2017. Development of the three projects, with total investment of Rs 40000 crore ($6 billion), is expected to bring a total 30-35 million cubic metres (1 billion cubic feet) of gas a day new domestic gas production onstream, phased over 2020-2022.

India today consumes over 5 billion cubic feet a day of natural gas and aspires to double gas consumption by 2022. Gas production from the integrated development is expected to help reduce Indias import dependence and amount to over 10% of the countrys projected gas demand in 2022; benefiting India and domestic consumers at large.

Additionally, RIL and BP will expand their existing partnership for strategic cooperation on new opportunities across Indias energy sector. Under the agreement the two companies will jointly explore options to develop differentiated fuels, mobility and advanced low carbon energy businesses in India, as India transitions to a low-carbon world.

The companies expect to collaborate, in addition to the conventional transportation and aviation fuels retailing, on unconventional mobility solutions, addressing electrification, digitization and disruptive mobility trends. Together, these collaborations will seek to address the mobility needs of urban, rural/farm, industrial/commercial, and highway consumers in India, applying the leading capabilities of both partners.

In an historic partnership with RIL in 2011, BP took a 30% stake in multiple oil and gas blocks in India operated by RIL, including the producing Block KGD6. Block KGD6 participating interests are 60% RIL (operator), 30% BP and 10% by NIKO.

Gas produced over the life of these three new projects could generate up to $20 billion in import substitution (at current imported LNG prices) and employment of up to 20,000 skilled labour during the construction period over the next 5 years.

On a consolidated basis, net profit of RIL rose 11.5% to Rs 8053 crore on 42.1% rise in net sales to Rs 84823 crore in Q4 March 2017 over Q4 March 2016.

RIL is Indias largest private sector company. RILs activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and telecommunications.

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Astrazeneca Pharma India gains after DCGI nod for asthma drug
Jun 16,2017

The announcement was made after market hours yesterday, 15 June 2017.

Meanwhile, the S&P BSE Sensex was up 15.81 points, or 0.05% to 31,091.54.

On the BSE, 2,453 shares were traded in the counter so far, compared with average daily volumes of 4,977 shares in the past one quarter. The stock had hit a high of Rs 955.65 and a low of Rs 930 so far during the day. The stock hit a 52-week high of Rs 1,146.95 on 24 August 2016. The stock hit a 52-week low of Rs 909 on 27 February 2017.

The stock had underperformed the market over the past one month till 15 June 2017, falling 5.30% compared with 1.36% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 2.92% as against Sensexs 4.81% rise. The scrip had also underperformed the market in past one year, falling 14.72% as against Sensexs 17.15% rise.

The small-cap company has equity capital of Rs 5 crore. Face value per share is Rs 2.

AstraZeneca Pharma India said it received import and market permission in Form 45 (marketing authorization) from the Drug Controller General of India for fixed-dose combination (FDC) of Budesonide 320 n++g +Formoterol Fumarate Dihydrate 9 n++g inhalation powder.

FDC of Budesonide 320 n++g + Formoterol Fumarate Dihydrate 9 n++g inhalation powder (Symbicort Turbuhaler 320/9 n++g) is a product of AstraZeneca global and is indicated in the regular treatment of Asthma where use of combination of inhaled regular corticosteroid & long acting n++-agonist is appropriate and patients with moderate to severe chronic obstructive pulmonary disease (COPD) with frequent symptoms and a history of exacerbations.

Astrazeneca Pharma India reported net loss of Rs 2.88 crore in Q4 March 2017 as against net profit of Rs 0.56 crore in Q4 March 2016. Net sales declined 16.90% to Rs 110.95 crore in Q4 March 2017 over Q4 March 2016.

AstraZeneca Pharma India is a subsidiary of AstraZeneca Plc, UK. It covers manufacturing, sales and marketing activities of the company in India. The company has an innovative portfolio in crucial areas of healthcare including cardiovascular and & metabolic diseases, oncology and respiratory.

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SCI corrects on profit booking
Jun 16,2017

Meanwhile, the S&P BSE Sensex was up 90.82 points, or 0.29% to 31,166.55.

On the BSE, 1.71 lakh shares were traded in the counter so far, compared with average daily volumes of 4.58 lakh shares in the past one quarter. The stock had hit a high of Rs 85.85 and a low of Rs 83.35 so far during the day. The stock hit a 52-week high of Rs 92 yesterday, 15 June 2017. The stock hit a 52-week low of Rs 55.75 on 21 November 2016.

The stock had outperformed the market over the past one month till 15 June 2017, rising 4.91% compared with 1.36% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 31.59% as against Sensexs 4.81% rise. The scrip had also outperformed the market in past one year, rising 27.08% as against Sensexs 17.15% rise.

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

Shares of Shipping Corporation of India (SCI) rose 18.78% in three trading sessions to settle at Rs 85.40 yesterday, 15 June 2017, from its close of Rs 71.90 on 12 June 2017.

The stock jumped 7.62% to settle at Rs 85.40 yesterday, 15 June 2017, on reports NITI Aayog has proposed strategic sale of about 26% stake in the company. 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 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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Jindal Worldwide declines on profit booking
Jun 16,2017

Meanwhile, the S&P BSE Sensex was up 69.53 points, or 0.22% at 31,141.93. The S&P BSE Small-Cap index was up 82.87 points, or 0.53% at 15,728.76.

On the BSE, 22,000 shares were traded on the counter so far as against the average daily volumes of 30,000 shares in the past two-weeks. The stock had hit a high of Rs 650 so far during the day, which is also its record high. The stock had hit a low of Rs 599.35 so far during the day. The stock had hit a 52-week low of Rs 142.50 on 21 June 2016.

Jindal Worldwide had rallied 49.65% in the preceding three trading sessions to settle at Rs 637.15 yesterday, 15 June 2017, from its closing of Rs 425.75 on 12 June 2017.

Jindal Worldwides net profit spurted 106.5% to Rs 23.97 crore on 26.8% increase in net sales to Rs 368.02 crore in Q4 March 2017 over Q4 March 2016.

Jindal Worldwide is the leader in Indian textile Industries and is operating in Indian contingent as well as having its international collaboration and clients in north and South America to Europe, Africa and Middle-East Asia.

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