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Ramky Infra spurts over 30% in four trading sessions
Mar 20,2017

Meanwhile, the S&P BSE Sensex was down 151.88 points, or 0.51% to 29,497.11. The S&P BSE Small-Cap index was up 46.21 points, or 0.33% to 14,058.84.

On the BSE, 4.35 lakh shares were traded in the counter so far, compared with average daily volumes of 15,780 shares in the past one quarter. The stock had hit a high of Rs 106.70 so far during the day, which is also 52-week high for the counter. The stock had hit a low of Rs 88.65 so far during the day. The stock hit a 52-week low of Rs 51.80 on 18 November 2016.

The stock had outperformed the market over the past one month till 17 March 2017, rising 11.05% compared with 4.76% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 36.53% as against Sensexs 11.93% rise.

The small-cap company has equity capital of Rs 57.20 crore. Face value per share is Rs 10.

Shares of Ramky Infrastructure have risen 33.13% in four trading sessions from its close of Rs 80.15 on 14 March 2017.

Ramky Infrastructure reported net profit of Rs 27.63 crore in Q3 December 2016 as against net loss of Rs 10.43 crore in Q3 December 2015. Net sales rose 9.20% to Rs 373.25 crore in Q3 December 2016 over Q3 December 2015.

Ramky Infrastructure is an integrated construction, infrastructure development and management company in India.

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Bodal Chemicals advances after boards nod for investment in S P S Processors
Mar 20,2017

The announcement was made during market hours today, 20 March 2017.

Meanwhile, the S&P Sensex was down 145.97 points or 0.49% at 29,503.02. The BSE Small-Cap index was up 39.31 points or 0.28% at 14,051.94.

On the BSE, 3.09 lakh shares were traded on the counter so far as against the average daily volumes of 1.38 lakh shares in the past one quarter. The stock had hit a high of Rs 141.90 and a low of Rs 137.80 so far during the day.

The stock had hit a record high of Rs 155 on 6 October 2016 and a 52-week low of Rs 61.05 on 17 March 2016. The stock had outperformed the market over the past one month till 17 March 2017, advancing 4.29% compared with the Sensexs 4.15% rise. The scrip had, however, underperformed the market over the past one quarter, rising 5.81% as against the Sensexs 11.93% rise.

The small-cap company has equity capital of Rs 21.82 crore. Face value per share is Rs 2.

S P S Processors is a company engaged in manufacturing of dye intermediates. Bodal Chemicals (BCL) will hold 70% equity stake in S P S Processors after this investment. BCL will also provide unsecured loan of about Rs 45 crore to S P S Processors to make it debt free company by retiring its existing total debt and also for expansion of its manufacturing capacities.

S P S Processors has manufacturing plant located at Kosi, Uttar Pradesh, with operational capacity to produce 250 tons per month (TPM) of H-Acid, a key dye intermediate. The plant is a zero discharge unit and only about one and half year old.

S P S Processors also has all necessary permissions to manufacture Vinyl Sulphone (VS-another key dye intermediate) as well as dyestuff, at the same plant. The board approved a plan to build a 350-TPM VS plant at the cost of about Rs 10 crore. As most of the basic infrastructure is ready at the existing plant of S P S Processors, the BCL management expects new VS plant to be operational by second quarter of FY 2O18.

This investment will help BCL to increase its manufacturing capacity of dyes intermediates by 25% and consolidate its position in the local & global markets of dye intermediates and dyestuff. This transaction will be entirely funded through internal accruals and is targeted to close before 31 March 2017 .

This acquisition is not a related party transaction and the promoters/promoter group/group companies do not have any interest in S P S Processors.

Bodal Chemicals net profit rose 54.3% to Rs 31.56 crore on 36% rise in net sales to Rs 272.24 crore in Q3 December 2016 over Q3 December 2015.

Bodal Chemicals is engaged in manufacturing of acid, direct and reactive dyestuffs and dye intermediates for textile, leather, plastics and papermaking applications.

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Idea Cellular tumbles as details of Vodafone merger disappoint investors
Mar 20,2017

The announcement was made before trading hours today, 20 March 2017.

Meanwhile, the S&P BSE Sensex was down 136 points, or 0.46% to 29,512.99.

On the BSE, 2.45 crore shares were traded in the counter so far, compared with average daily volumes of 48.33 lakh shares in the past one quarter. The stock had hit a high of Rs 123.75 and a low of Rs 92 so far during the day.

The stock hit a 52-week high of Rs 128.05 on 28 April 2016. The stock hit a 52-week low of Rs 66 on 9 November 2016.

The stock had underperformed the market over the past one month till 17 March 2017, rising 0.09% compared with 4.76% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 41.60% as against Sensexs 11.93% rise.

The large-cap company has equity capital of Rs 3603.50 crore. Face value per share is Rs 10.

The board of directors of Idea Cellular at its meeting held today, 20 March 2017, have approved the scheme of amalgamation of Vodafone India (VIL) and its wholly owned subsidiary Vodafone Mobile Services (VMSL) with the company subject to receipt of necessary approvals of shareholders, creditors, Sebi, stock exchanges, the Competition Commission of India, the Department of Telecommunications (DoT), the Foreign Investment Promotion Board, the Reserve Bank of India and other governmental authorities and third parties (as may be required).

Upon the amalgamation becoming effective, the entire business of VIL and VMSL (excluding VILs investment in Indus Towers, its international network assets and information technology platforms) will vest in Idea Cellular. The agreement contemplates the completion of the proposed amalgamation within a period of 24 months.

Vodafone India has a net worth of Rs 12855 crore and a turnover of Rs 5025 crore. Vodafone Mobile Services has a net worth of Rs 3737 crore and turnover of Rs 40378 crore. Idea Cellular has a net worth Rs 24296 crore and turnover of Rs 36000 crore.

All the entities forming part of the amalgamation are engaged in the business of cellular mobile telecommunication services pursuant to licences granted to them by the DoT. The board of directors of Idea Cellular believes that the proposed amalgamation will result in creation of largest Indian telecom operator with widest mobile network in the country and pan India 3G/4G footprint. It will provide sufficient spectrum to complete with major operators in the market while offering innovative and attractively priced mobile service to customers. The amalgamation will acceleration of expansion of wireless broadband networks across India to deliver the Government of Indias Digital Indian++ mission. It will create substantial cost and capex synergies creating value for shareholders; and leverage the customers affinity for both the existing brands.

On the scheme of amalgamation of VMSL with Idea Cellular becoming effective, Idea Cellular will issue an aggregate number of its equity shares to VIL equal to 47% of the post issue paid-up capital of Idea Cellular on a fully diluted basis. Immediately thereafter, on the amalgamation of VIL with Idea Cellular, the shares issued to VIL pursuant to the amalgamation of VMSL with Idea Cellular shall stand cancelled and, post such cancellation, Idea Cellular shall issue an aggregate number of equity shares of Idea Cellular (credited as fully paid-up) equal to 50% of the post issue paid up capital of Idea Cellular to the shareholder of VIL (Vodafone).

Vodafone will own 45.1% of the combined company after transferring a stake of approximately 4.9% to the promoters of Idea/their affiliates (together promoters of Idea) for Rs 3874 crore in cash concurrent with the completion of the amalgamation. The promoters of Idea will hold 26% of the company and the balance will be held by the public.

The promoters of Idea Cellular have the right to acquire up to a 9.5% additional stake from Vodafone under an agreed mechanism with a view to equalising the shareholdings over time. If Vodafone and the promoters of Idea do not have equal shareholding by the expiry of the 4th year from completion of the amalgamation, Vodafone is obliged to reduce its holding in order to equalise its ownership with that of the promoters of Idea over the following 5 year period. Until equalisation is achieved, the additional shares held by Vodafone will be restricted and votes will be exercised jointly under the terms of the Shareholders Agreement.

The shareholders agreement will become effective only upon the scheme of amalgamation becoming effective. None of the above including the scheme of amalgamation, the entry into the shareholders agreement and the entry into the implementation agreement is a related party transaction.

On consolidated basis, Idea Cellular reported a net loss of Rs 383.88 crore in Q3 December 2016 compared with net profit of Rs 659.36 crore in Q3 December 2015. Net sales declined 3.7% to Rs 8660.74 crore in Q3 December 2016 over Q3 December 2015.

Idea Cellular is one of the leading telecom operators in India.

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Volumes jump at Magma Fincorp counter
Mar 20,2017

Magma Fincorp clocked volume of 2.84 crore shares by 13:42 IST on BSE, a 1724.46-times surge over two-week average daily volume of 16,000 shares. The stock rose 3.69% at Rs 103.95.

Redington (India) notched up volume of 1.61 crore shares, a 217.51-fold surge over two-week average daily volume of 74,000 shares. The stock lost 1.05% at Rs 108.

Bayer CropScience saw volume of 1.38 lakh shares, a 202.97-fold surge over two-week average daily volume of 1,000 shares. The stock was down 1.33% at Rs 3,799.

Greenply Industries clocked volume of 38.70 lakh shares, a 195.58-fold surge over two-week average daily volume of 20,000 shares. The stock declined 2.45% at Rs 277.

Reliance Power saw volume of 6.06 crore shares, a 72.04-fold rise over two-week average daily volume of 8.42 lakh shares. The stock rose 1.05% at Rs 48.20.

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ABG Shipyard extends gains
Mar 20,2017

Meanwhile, the S&P Sensex was down 136.98 points or 0.46% at 29,512.01. The BSE Small-Cap index was up 35.85 points or 0.26% at 14,048.48.

On the BSE, 40,000 shares were traded on the counter so far as against the average daily volumes of 63,447 shares in the past one quarter. The stock had opened with an upward gap by surging by the maximum permissible level of 5% and remained locked at that level at Rs so far during the day.

The stock had hit a 52-week high of Rs 74.60 on 22 March 2016 and a record low of Rs 19.95 on 15 March 2017. The stock had underperformed the market over the past one month till 17 March 2017, sliding 17.95% compared with the Sensexs 4.15% rise. The scrip had also underperformed the market over the past one quarter, declining 29.23% as against the Sensexs 11.93% rise.

The small-cap company has equity capital of Rs 99.68 crore. Face value per share is Rs 10.

Shares of ABG Shipyard have risen 15.5% in three trading sessions from its closing of Rs 20.35 on 15 March 2017.

With reference to news report titled, Reliance Defence expresses interest in buying Agreed Assets of ABG Shipyard, ABG Shipyard clarified after market hours on Thursday, 16 March 2017, that lenders have invited expression of interest for acquisition of majority shareholding in ABG Shipyard. Accordingly, few parties have expressed their interest. Information/details will be submitted to the stock exchanges on completion of the process, ABG Shipyard said. The stock had surged by the maximum permissible level of 5% to settle at Rs 22.40 on Friday, 17 March 2017.

ABG Shipyard reported net loss of Rs 1710.68 crore in Q4 March 2016 as against net loss of Rs 374.86 crore in Q4 March 2015. Net sales declined 90.5% to Rs 1.95 crore in Q4 March 2016 over Q4 March 2015.

ABG Shipyard is into shipbuilding and ship repair business.

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Idea Cellular leads losers on BSEs A group
Mar 20,2017

Idea Cellular fell 7.32% at Rs 100. The stock topped the losers in A group. On the BSE, 2.24 crore shares were traded on the counter so far as against the average daily volumes of 23.53 lakh shares in the past two weeks.

Jaiprakash Associates slipped 5.36% at Rs 13.25. The stock was the second biggest loser in A group. On the BSE, 55.77 lakh shares were traded on the counter so far as against the average daily volumes of 58.04 lakh shares in the past two weeks.

Delta Corp declined 5.36% at Rs 161.65. The stock was the third biggest loser in A group. On the BSE, 7.62 lakh shares were traded on the counter so far as against the average daily volumes of 13.73 lakh shares in the past two weeks.

Firstsource Solutions tumbled 3.18% at Rs 41.05. The stock was the fourth biggest loser in A group. On the BSE, 3.05 lakh shares were traded on the counter so far as against the average daily volumes of 4.21 lakh shares in the past two weeks.

Shree Cement slipped 2.69% at Rs 16,000. The stock was the fifth biggest loser in A group. On the BSE, 1,398 shares were traded on the counter so far as against the average daily volumes of 620 shares in the past two weeks.

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Marathon Nextgen Realty advances as board approves share buyback plan
Mar 20,2017

The announcement was made after market hours on Friday, 17 March 2017. The buyback price of Rs 275 per share, was at a premium of 6.83% to Fridays, 17 March 2017 closing price of Rs 257.40.

Meanwhile, the S&P Sensex was down 131.81 points, 0.44% at 29,517.18. The S&P Small-cap index was up 37.16 points or 0.27% at 14,049.79, outperforming the Sensex.

High volumes were witnessed on the counter. On the BSE, 17,000 shares were traded on the counter so far as against the average daily volumes of 6,068 shares in the past one quarter. The stock had hit a high of Rs 265 and a low of Rs 255 so far during the day.

The stock had hit a 52-week high of Rs 297 on 12 August 2016 and a 52-week low of Rs 135 on 5 April 2016. The stock had outperformed the market over the past one month till 17 March 2017, advancing 22.11% compared with the Sensexs 4.15% rise. The scrip had also outperformed the market over the past one quarter advancing 20.7% as against the Sensexs 11.93% rise.

The small-cap company has equity capital of Rs 28.44 crore. Face value per share is Rs 10.

Marathon Nextgen Realty announced that the board of directors at its meeting held on Friday, 17 March 2017, approved a proposal to buyback up to 54.37 lakh equity shares of the company amounting to Rs 149.52 crore being 19.12% of the total paid-up equity share capital, at Rs 275 per share.

The buyback is proposed to be made from the shareholders of the company on a proportionate basis under the tender offer route using the stock exchange mechanism.

The buy-back is subject to approval of the members by means of a special resolution through postal ballot. The public announcement setting out the process, timelines and other requisite details will be released in due course in accordance with the buyback regulations.

Marathon Nextgen Realtys net profit declined 22.2% to Rs 25.16 crore on 36.4% decline in net sales to Rs 53.81 crore in Q3 December 2016 over Q3 December 2015.

Marathon Nextgen Realty is engaged in real estate development business.

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Indian Bank declines on profit taking
Mar 20,2017

Meanwhile, the S&P Sensex was down 143.27 points or 0.48% at 29,505.72.

On the BSE, 15,000 shares were traded on the counter so far as against the average daily volumes of 74,685 shares in the past one quarter. The stock had hit a high of Rs 286.35 and a low of Rs 275.05 so far during the day.

The stock had hit a 52-week high of Rs 310 on 9 February 2017 and a 52-week low of Rs 84.80 on 12 May 2016. The stock had underperformed the market over the past one month till 17 March 2017, sliding 2.16% compared with the Sensexs 4.15% rise. The scrip had, however, outperformed the market over the past one quarter, surging 21.68% as against the Sensexs 11.93% rise.

The large-cap bank has equity capital of Rs 480.29 crore. Face value per share is Rs 10.

Shares of Indian Bank had risen 6.28% in the preceding four trading sessions to settle at Rs 283.20 on Friday, 17 March 2017, from its closing of Rs 266.45 on 10 March 2017.

Meanwhile, Indian Bank announced on Saturday, 18 March 2017, that its board approved to raise capital by issuing 4.75 crore equity shares through follow-on issue/rights issue/private placement /qualified institutional placement (QIP)/preferential issue, subject to necessary approval from Reserve Bank of India, Government of India, shareholders of the bank and other regulatory authorities, at appropriate time.

Net profit of Indian Bank rose 670.4% to Rs 373.48 crore on 2.5% growth in total income to Rs 4557.25 crore in Q3 December 2016 over Q3 December 2015.

Government of India currently holds 82.1% stake in Indian Bank (as on 31 December 2016).

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Indiabulls Real Estate gains on plan to raise Rs 100 crore through NCDs
Mar 20,2017

The announcement was made after market hours on Friday, 17 March 2017.

Meanwhile, the S&P BSE Sensex was down 147.53 points, or 0.50% to 29,501.46.

On the BSE, 3.83 lakh shares were traded in the counter so far, compared with average daily volumes of 8.67 lakh shares in the past one quarter. The stock had hit a high of Rs 83.65 and a low of Rs 81.65 so far during the day.

The stock hit a 52-week high of Rs 105.25 on 30 May 2016. The stock hit a 52-week low of Rs 51.80 on 18 March 2016.

The stock had outperformed the market over the past one month till 17 March 2017, rising 7.16% compared with 4.76% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 17.74% as against Sensexs 11.93% rise.

The mid-cap company has equity capital of Rs 98.33 crore. Face value per share is Rs 2.

Indiabulls Real Estate said it proposes to issue secured, redeemable, non-convertible debentures (NCD) of face value Rs 10 lakh each, aggregating Rs 100 crore, on a private placement basis. The NCD issue with tenor of 13 months will open on 22 March 2017, the company said in a notice. The company had received shareholders approval for the same in September 2016 through a special resolution at its annual general meeting then.

On a consolidated basis, Indiabulls Real Estates net profit fell 13.7% to Rs 58.58 crore on 58.8% decline in net sales to Rs 291.21 crore in Q3 December 2016 over Q3 December 2015.

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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Rupa & Company drops on profit booking
Mar 20,2017

Meanwhile, the S&P Sensex was down 148.98 points, 0.5% at 29,500.01. The S&P Small-cap index was up 22.84 points or 0.16% at 14,035.47.

On the BSE, 48,000 shares were traded on the counter so far as against the average daily volumes of 40,408 shares in the past one quarter. The stock had hit a high of Rs 338.50 and a low of Rs 321.60 so far during the day.

The stock had hit a 52-week high of Rs 351.90 on 17 March 2017 and a 52-week low of Rs 244 on 10 January 2017. The stock had outperformed the market over the past one month till 17 March 2017, advancing 34.34% compared with the Sensexs 4.15% rise. The scrip had also outperformed the market over the past one quarter advancing 33.08% as against the Sensexs 11.93% rise.

The small-cap company has equity capital of Rs 7.95 crore. Face value per share is Rs 1.

Rupa & Company had rallied 25.69% in the preceding four trading sessions to settle at Rs 340.55 on Friday, 17 March 2017, from its closing of Rs 270.95 on 10 March 2017, triggered by the company announcing that Oban Fashions, one of the companys subsidiaries, concluded a deal with the US-based Fruit of the Loom Inc, a unit of Warren Buffets Berkshire Hathaway Co., to manufacture and sell products in India under the US companys brands.

Fruit of the Loom sells a wide range of underwear and casual wear in the US and Europe. The announcement was made after market hours on 14 March 2017.

The stock had jumped 16.13% to Rs 340.55 in a single session on 17 March 2017, after a bulk deal of 15.07 lakh shares was executed on the scrip at Rs 306.65 per share on BSE.

Rupa & Companys net profit rose 20.7% to Rs 17 crore on 7.5% decline in net sales to Rs 208.57 crore in Q3 December 2016 over Q3 December 2015.

Rupa & Company is a leading undergarments manufacturer and a leading hosiery and knitwear company in India.

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Jindal Poly Films corrects on profit booking
Mar 20,2017

Meanwhile, the S&P BSE Sensex was down 136.05 points, or 0.46% to 29,512.94.

On the BSE, 65,000 shares were traded in the counter so far, compared with average daily volumes of 31,533 shares in the past one quarter. The stock had hit a high of Rs 448.05 and a low of Rs 427 so far during the day.

The stock hit a 52-week high of Rs 538.75 on 11 May 2016. The stock hit a 52-week low of Rs 300 on 27 December 2016.

The stock had outperformed the market over the past one month till 17 March 2017, rising 33.88% compared with 4.76% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 26.88% as against Sensexs 11.93% rise.

The small-cap company has equity capital of Rs 43.79 crore. Face value per share is Rs 10.

Shares of Jindal Poly Films rose 36.30% in six trading sessions to settle at Rs 438 on Friday, 17 March 2017, from its close of Rs 321.35 on 8 March 2017.

Jindal Poly Films announced on 6 March 2017 that its board of directors approved expansion plans for companys India operation by investment of Rs 350 crore. Investment will be made in polyester line - H, (PET) and C.P. plant for manufacturing of polyester chips to be used for internal consumption to manufacture BOPET (biaxially-oriented polyethylene terephthalate) film. After the commencement of line, the combined capacity of BOPET films will be totaling to 1,82,000 tonnes per annum.

Jindal Poly Films consolidated net profit fell 27.4% to Rs 38.49 crore on 7.8% drop in net sales to Rs 1520.55 crore in Q3 December 2016 over Q3 December 2015.

Jindal Poly Films is engaged in diverse business activities including manufacturing of polyester film, polypropylene film, steel pipes and photographic products.

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Smartlink Network spurts on plans to categorize into NBFC
Mar 20,2017

The announcement was made after market hours on Friday, 17 March 2017.

Meanwhile, the S&P Sensex was down 134.28 points or 0.45% at 29,514.71. The BSE Small-Cap index was up 29.08 points or 0.21% at 14,041.71.

On the BSE, 1.88 lakh shares were traded on the counter so far as against the average daily volumes of 21,261 shares in the past one quarter. The stock had hit a high of Rs 111.95 and a low of Rs 96.30 so far during the day.

The stock had hit a 52-week high of Rs 123.40 on 12 December 2016 and a 52-week low of Rs 76 on 15 November 2016. The stock had underperformed the market over the past one month till 17 March 2017, sliding 3.35% compared with the Sensexs 4.15% rise. The scrip had also underperformed the market over the past one quarter, declining 16.03% as against the Sensexs 11.93% rise.

The small-cap company has equity capital of Rs 4.51 crore. Face value per share is Rs 2.

Smartlink Network Systems board approved the final application for categorizing the company as a non-banking financial company (NBFC) to be made to the Reserve Bank of India (RBI). The companys business currently consists mainly of income from investments activities pursuant to transfer of Digisol brand business to Digisol Systems and manufacturing business to Synegra EMS (wholly owned subsidiaries of the company) respectively.

The board also approved the acquisition of 1 crore equity shares aggregating upto Rs 10 crore issued by Digisol Systems, a wholly owned subsidiary of the company, in one or more tranches.

Smartlink Network Systems net profit surged 403.6% to Rs 1.41 crore on 58.2% decline in net sales to Rs 3.05 crore in Q3 December 2016 over Q3 December 2015.

Smartlink Network Systems is one of the leading networking companies in India.

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Ajanta Pharma gains after board approves amalgamation of Gabs Investment
Mar 20,2017

The announcement was made on Saturday, 18 March 2017.

Meanwhile, the S&P BSE Sensex was down 134.62 points, or 0.45% to 29,514.37.

On the BSE, 18,000 shares were traded in the counter so far, compared with average daily volumes of 24,421 shares in the past one quarter. The stock had hit a high of Rs 1,851 and a low of Rs 1,805.55 so far during the day. The stock hit a record high of Rs 2,150 on 28 October 2016. The stock hit a 52-week low of Rs 1,311.75 on 29 March 2016.

The stock had underperformed the market over the past one month till 17 March 2017, rising 1.41% compared with 4.76% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 1.07% as against Sensexs 11.93% rise.

The large-cap company has equity capital of Rs 17.60 crore. Face value per share is Rs 2.

The board of Ajanta Pharma considered and approved the amalgamation of Gabs Investments (Gabs) with Ajanta Pharma (APL) in consideration for equity shares of APL. The proposed amalgamation would be carried out vide a scheme of amalgamation and arrangement between Gabs Investments and Ajanta Pharma and their respective shareholders (the scheme).

APL is in the business of manufacture and pharmaceuticaI products wortdwide. Gabs is in the business of making investments shares and primarity holds shares of APL. As on date, Gabs holds 83.92 lakh shares in APL, representing about 9.54% of the total paid up capital of APL.

On a consolidated basis, net profit of Ajanta Pharma rose 25.15% to Rs 142.60 crore on 9.68% rise in net sales to Rs 515.02 crore in Q3 December 2016 over Q3 December 2015.

Ajanta Pharma is a specialty pharmaceutical company engaged in development, manufacturing and marketing of quality finished dosages.

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Apar Inds declines as Templeton Fund cuts stake
Mar 20,2017

Meanwhile, the S&P Sensex was down 136.89 points or 0.46% at 29,512.10. The BSE Small-Cap index was up 46.86 points or 0.33% at 14,059.49.

On the BSE, 13,000 shares were traded on the counter so far as against the average daily volumes of 6,558 shares in the past one quarter. The stock had hit a high of Rs 724 and a low of Rs 711.05 so far during the day.

The stock had hit a record high of Rs 787.70 on 16 March 2017 and a 52-week low of Rs 455 on 7 April 2016. The stock had underperformed the market over the past one month till 17 March 2017, advancing 1.33% compared with the Sensexs 4.15% rise. The scrip had, however, outperformed the market over the past one quarter, gaining 28.15% as against the Sensexs 11.93% rise.

The small-cap company has equity capital of Rs 38.27 crore. Face value per share is Rs 10.

Templeton Strategic Emerging Market Fund III LDC sold 36.36 lakh shares of Apar Industries at Rs 706.85 per share in bulk deal on the NSE on Friday, 17 March 2017. L&T Mutual Fund-L&T India Prudence Fund bought 4.86 lakh shares at Rs 705 per share. Manya Traders purchased 2 lakh shares at Rs 706 a piece. Reliance Mutual Fund - Reliance Small Cap Fund bought 6 lakh shares at Rs 705 per share.

Templeton Strategic Emerging Market Fund III LDC owned 9.45% stake in Apar Industries end December 2016.

Apar Industries net profit rose 54.4% to Rs 43.29 crore on 4.6% decline in net sales to Rs 1125.98 crore in Q3 December 2016 over Q3 December 2015.

Apar Industries is engaged in the business of manufacture of conductors, transformer/specialty oils and power/telecom cables.

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Idea Cellular jumps after board OKs merger with Vodafone India
Mar 20,2017

The announcement was made before trading hours today, 20 March 2017.

Meanwhile, the S&P BSE Sensex was up 109.74 points, or 0.37% to 29,539.25.

On the BSE, 51.68 lakh shares were traded in the counter so far, compared with average daily volumes of 48.33 lakh shares in the past one quarter. The stock had hit a high of Rs 123.75 and a low of Rs 109.95 so far during the day.

The stock hit a 52-week high of Rs 128.05 on 28 April 2016. The stock hit a 52-week low of Rs 66 on 9 November 2016.

The stock had underperformed the market over the past one month till 17 March 2017, rising 0.09% compared with 4.76% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 41.60% as against Sensexs 11.93% rise.

The large-cap company has equity capital of Rs 3603.50 crore. Face value per share is Rs 10.

The board of directors of Idea Cellular at its meeting held today, 20 March 2017, have approved the scheme of amalgamation of Vodafone India (VIL) and its wholly owned subsidiary Vodafone Mobile Services (VMSL) with the company subject to receipt of necessary approvals of shareholders, creditors, Sebi, stock exchanges, the Competition Commission of India, the Department of Telecommunications (DoT), the Foreign Investment Promotion Board, the Reserve Bank of India and other governmental authorities and third parties (as may be required).

Upon the amalgamation becoming effective, the entire business of VIL and VMSL (excluding VILs investment in Indus Towers, its international network assets and information technology platforms) will vest in Idea Cellular.

Vodafone India has a net worth of Rs 12855 crore and a turnover of Rs 5025 crore. Vodafone Mobile Services has a net worth of Rs 3737 crore and turnover of Rs 40378 crore. Idea Cellular has a net worth Rs 24296 crore and turnover of Rs 36000 crore.

All the entities forming part of the amalgamation are engaged in the business of cellular mobile telecommunication services pursuant to licences granted to them by the DoT. The board of directors of Idea Cellular believes that the proposed amalgamation will result in creation of largest Indian telecom operator with widest mobile network in the country and pan India 3G/4G footprint. It will provide sufficient spectrum to complete with major operators in the market while offering innovative and attractively priced mobile service to customers. The amalgamation will acceleration of expansion of wireless broadband networks across India to deliver the Government of Indias Digital Indian++ mission. It will create substantial cost and capex synergies creating value for shareholders; and leverage the customers affinity for both the existing brands.

On the scheme of amalgamation of VMSL with Idea Cellular becoming effective, Idea Cellular will issue an aggregate number of its equity shares to VIL equal to 47% of the post issue paid-up capital of Idea Cellular on a fully diluted basis. Immediately thereafter, on the amalgamation of VIL with Idea Cellular, the shares issued to VIL pursuant to the amalgamation of VMSL with Idea Cellular shall stand cancelled and, post such cancellation, Idea Cellular shall issue an aggregate number of equity shares of Idea Cellular (credited as fully paid-up) equal to 50% of the post issue paid up capital of Idea Cellular to the shareholder of VIL (Vodafone).

Vodafone will own 45.1% of the combined company after transferring a stake of approximately 4.9% to the promoters of Idea/their affiliates (together promoters of Idea) for Rs 3874 crore in cash concurrent with the completion of the amalgamation. The promoters of Idea will hold 26% of the company and the balance will be held by the public.

The agreement contemplates the completion of the proposed amalgamation within a period of 24 months.

On consolidated basis, Idea Cellular reported a net loss of Rs 383.88 crore in Q3 December 2016 compared with net profit of Rs 659.36 crore in Q3 December 2015. Net sales declined 3.7% to Rs 8660.74 crore in Q3 December 2016 over Q3 December 2015.

Idea Cellular is one of the leading telecom operators in India.

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