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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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ITC drops on profit booking
Mar 20,2017

Meanwhile, the S&P Sensex was down 112.44 points or 0.38% at 29,536.55.

On the BSE, 1 lakh shares were traded on the counter so far as against the average daily volumes of 11.55 lakh shares in the past one quarter. The stock had hit a high of Rs 288 and a low of Rs 277.90 so far during the day.

The stock had hit a record high of Rs 291.95 on 7 February 2017 and a 52-week low of Rs 204 on 6 May 2016. The stock had outperformed the market over the past one month till 17 March 2017, advancing 4.83% compared with the Sensexs 4.15% rise. The scrip had also outperformed the market over the past one quarter, gaining 24.12% as against the Sensexs 11.93% rise.

The large-cap company has equity capital of Rs 1214 crore. Face value per share is Rs 1.

Shares of ITC had risen 6.81% in the preceding four trading sessions to settle at Rs 281.20 on Friday, 17 March 2017, from its closing of Rs 263.25 on 10 March 2017.

The recent rally in the stock was fueled by media reports that a foreign brokerage has maintained a buy rating on ITC with a 12-month target price of Rs 325. According to reports, the foreign brokerage stated that the Goods & Services Tax (GST) structure is likely to be a revenue-neutral outcome which comes as a big relief for ITC.

ITCs net profit rose 5.7% to Rs 2646.73 crore on 4.1% increase in net sales to Rs 9149.31 crore in Q3 December 2016 over Q3 December 2015.

ITC is a diversified company, with presence in cigarettes, hotels, paperboards & specialty papers, packaging, agri-business, packaged foods & confectionery, information technology, branded apparel, personal care, stationery and other FMCG products. ITC is a market leader in cigarettes.

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Dena Bank jumps as Govt to infuse capital
Mar 20,2017

Meanwhile, the S&P BSE Sensex was down 102.60 points, or 0.35% to 29,546.39.

On the BSE, 2.17 lakh shares were traded in the counter so far, compared with average daily volumes of 1.61 lakh shares in the past one quarter. The stock had hit a high of Rs 39.80 and a low of Rs 38.65 so far during the day.

The stock hit a 52-week high of Rs 43.90 on 7 July 2016. The stock hit a 52-week low of Rs 27.75 on 28 March 2016.

The stock had underperformed the market over the past one month till 17 March 2017, falling 0.67% compared with 4.76% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 8.97% as against Sensexs 11.93% rise.

The small-cap state-run bank has equity capital of Rs 787.15 crore. Face value per share is Rs 10.

Dena Bank announced after market hours on Friday, 17 March 2017, that it received a communication from Government of India informing capital allocation of Rs 600 crore as part of turnaround linked infusion plan. The board approval for raising of capital of the bank through issue of equity shares to Government of India, LIC of India and GIC of India on preferential basis, is being obtained.

Dena Bank reported net profit of Rs 35.31 crore in Q3 December 2016 as against net loss of Rs 662.85 crore in Q3 December 2015. Operating income rose 10.2% to Rs 2999.51 crore in Q3 December 2016 over Q3 December 2015.

The Government of India (GoI) held 68.55% stake in Dena Bank as on 31 December 2016.

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Vakrangee moves higher after announcing tie up with Aditya Birla Health Insurance Company
Mar 17,2017

The announcement was made during market hours today, 17 March 2017.

Meanwhile, the S&P BSE Sensex was up 38.19 points or 0.13% at 29,624.04

On BSE, so far 75,000 shares were traded in the counter as against average daily volume of 2.24 lakh shares in the past one quarter. The stock hit a high of Rs 320.45 and a low of Rs 316.60 so far during the day.

The large-cap company has equity capital of Rs 52.92 crore. Face value per share is Rs 1.

Vakrangee is one of the Indias largest network of technology driven last-mile retail points-of sale and this tie up with Aditya Birla Health Insurance Company is going to be a win-win affair for all stakeholders. While Aditya Birla Health Insurance will be able to expand its distribution network in more than 29,000 Vakrangee Kendra outlets, Vakrangee will have added range of quality product to offer through its vast distribution network.

Citizens, especially in un-served and underserved areas, will be able to access quality Health Insurance products and services offered/to be offered by Aditya Birla Health Insurance. Aditya Birla Health Insurance Company is a joint venture between Aditya Birla Group, and MMI Holdings (MMI).

On a consolidated basis, Vakrangees net profit rose 27.87% to Rs 131.55 crore on 19.54% growth in net sales to Rs 978.86 crore in Q3 December 2016 over Q3 December 2015.

Vakrangee is the unique technology driven company focused on building Indias largest network of last-mile retail touch points to deliver real-time banking, insurance, e-governance, ecommerce and logistics services to the unserved rural, semi-urban and urban markets. These retail touch points are called as Vakrangee Kendra which act as the one-stop shop for availing various services and products.

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Jindal Poly Films spurts about 36% in six trading sessions
Mar 17,2017

Meanwhile, the S&P BSE Sensex was up 47.29 points, or 0.16% to 29,633.14.

The S&P BSE Small-Cap index was up 4.53 points, or 0.03% to 14,010.93.

On the BSE, 4.75 lakh shares were traded in the counter so far, compared with average daily volumes of 24,054 shares in the past one quarter. The stock had hit a high of Rs 476.10 and a low of Rs 416.70 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 16 March 2017, rising 28.86% compared with 5.08% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 22.05% as against Sensexs 11.69% 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 have surged 35.90% in six trading sessions 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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Shoppers Stop descends on profit booking
Mar 17,2017

Meanwhile, the S&P BSE Sensex was up 80.05 points or 0.27% at 29,665.90

On BSE, so far 2,592 shares were traded in the counter as against average daily volume of 4,799 shares in the past one quarter. The stock hit a high of Rs 344.60 and a low of Rs 327.70 so far during the day. The stock hit a 52-week high of Rs 406 on 7 September 2016. The stock hit a 52-week low of Rs 265 on 28 December 2016.

The stock had outperformed the market over the past one month till 16 March 2017, rising 6.97% compared with 5.08% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 17.48% as against Sensexs 11.69% rise.

The small-cap company has an equity capital of Rs 41.75 crore. Face value per share is Rs 5.

Shoppers Stop announced that it has opened its Shoppers Stop store at Nucleus Mall, Ranchi. With this, the company has now 80 Shoppers Stop (including six airport stores) stores under its operations. The announcement was made after market hours yesterday, 16 March 2017.

Shoppers Stops net profit fell 15.32% to Rs 19.01 crore on 13.56% growth in net sales to Rs 996.45 crore in Q3 December 2016 over Q3 December 2015.

Shoppers Stop runs department stores that sell apparel, cosmetics and fashion accessories.

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Dredging Corporation of India soars about 46% in four sessions
Mar 17,2017

Meanwhile, the S&P BSE Sensex was up 80.05 points, or 0.27% to 29,665.90.

The S&P BSE Small-Cap index was down 11.85 points, or 0.08% to 13,994.55.

On the BSE, 7.39 lakh shares were traded in the counter so far, compared with average daily volumes of 51,464 shares in the past one quarter. The stock had hit a high of Rs 716 so far during the day, which is also a 52-week high for the counter. The stock had hit a low of Rs 627 so far during the day. The stock hit a 52-week low of Rs 320 on 18 March 2016.

The stock had outperformed the market over the past one month till 16 March 2017, rising 41.09% compared with 5.08% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 60.09% as against Sensexs 11.69% rise.

The small-cap company has equity capital of Rs 28 crore. Face value per share is Rs 10.

Shares of Dredging Corporation of India have rallied 45.63% in four trading sessions from its close of Rs 474.50 on 10 March 2017.

On 6 March 2017, some media reports suggested that the government was looking to sell a 51% stake in state-run company. The strategic stake sale could materialise by middle of the next fiscal year starting April 2017, the reports added.

The company, however, clarified during trading hours on 6 March 2017, that it has not received any specific official communication from the government regarding stake sale. Hence, the company had no comments to offer on the same. The company added that it will inform the stock exchange as and when any official information is received from the government in this regard.

The government currently holds 73.47% stake in Dredging Corporation of India (as on 31 December 2016).

Dredging Corporation of India reported net profit of Rs 14.04 crore in Q3 December 2016, compared with net loss of Rs 19.62 crore in Q3 December 2015. Net sales fell 13.7% to Rs 139.39 crore in Q3 December 2016 over Q3 December 2015.

State-run Dredging Corporation of India provides dredging services to the major ports of the country.

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MTNL jumps as parliamentary panel suggests merger with BSNL
Mar 17,2017

Meanwhile, the S&P BSE Sensex was up 95.97 points, or 0.32% to 29,681.82.

The S&P BSE Small-Cap index was down 9.31 points, or 0.07% to 13,997.09.

On the BSE, 12.19 lakh shares were traded in the counter so far, compared with average daily volumes of 8.10 lakh shares in the past one quarter. The stock had hit a high of Rs 26 and a low of Rs 25 so far during the day. The stock hit a 52-week high of Rs 26.50 on 8 March 2017. The stock hit a 52-week low of Rs 15 on 22 November 2016.

The stock had outperformed the market over the past one month till 16 March 2017, rising 11.47% compared with 5.08% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 33.15% as against Sensexs 11.69% rise.

The small-cap company has equity capital of Rs 630 crore. Face value per share is Rs 10.

According to media reports, the Committee on Petitions, chaired by Member of Parliament from the Bharatiya Janata Party (BJP), Bhagat Singh Koshyari, in its report tabled in Lok Sabha on Thursday, 16 March 2017, said the merger would give BSNL and MTNL a chance to compete against private sector players. The synergies and advantages inherent in an integrated national telecom infrastructure will pave the way for lower cost of investment and greater combined ability to face competition, the report added.

MTNL reported net loss of Rs 819.96 crore in Q3 December 2016 compared with net loss of Rs 671.59 crore in Q3 December 2015. Net sales fell 8.7% to Rs 686.76 crore in Q3 December 2016 over Q3 December 2015.

State-run MTNL provides fixed-line telecommunication service in the two metropolitan cities of Delhi and Mumbai. The company also provides 3G mobile services and internet services in these two cities.

The Government of India currently holds 56.25% stake in MTNL (as per the shareholding pattern as on 30 December 2016).

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Volumes jump at Joonktollee Tea & Industries counter
Mar 17,2017

Joonktollee Tea & Industries clocked volume of 3.17 lakh shares by 13:13 IST on BSE, a 451.88-times surge over two-week average daily volume of 1,000 shares. The stock rose 5% to Rs 177.60.

Cosmo Films notched up volume of 24.67 lakh shares, a 229.36-fold surge over two-week average daily volume of 11,000 shares. The stock rose 3.26% to Rs 391.80.

Info Edge (India) saw volume of 9.68 lakh shares, a 94.78-fold surge over two-week average daily volume of 10,000 shares. The stock rose 0.18% to Rs 840.

Rupa & Company clocked volume of 18.49 lakh shares, a 90.64-fold surge over two-week average daily volume of 20,000 shares. The stock jumped 20% to Rs 351.90.

Dr. Lal PathLabs saw volume of 4.03 lakh shares, a 22.03-fold rise over two-week average daily volume of 18,000 shares. The stock rose 0.54% to Rs 949.90.

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ITC leads gainers on BSEs A group
Mar 17,2017

ITC rose 6.10% at Rs 284.55. The stock topped the gainers in A group. On the BSE, 30.39 lakh shares were traded on the counter so far as against the average daily volumes of 14.60 lakh shares in the past two weeks.

Mahindra & Mahindra Financial Services rose 5.26% at Rs 309.95. The stock was the second biggest gainer in A group. On the BSE, 4.52 lakh shares were traded on the counter so far as against the average daily volumes of 1.52 lakh shares in the past two weeks.

Tata Elxsi rose 4.05% at Rs 1,504.15. The stock was the third biggest gainer in A group. On the BSE, 1.08 lakh shares were traded on the counter so far as against the average daily volumes of 26,000 shares in the past two weeks.

Bharat Financial Inclusion rose 3.68% at Rs 833.85. The stock was the fourth biggest gainer in A group. On the BSE, 5.84 lakh shares were traded on the counter so far as against the average daily volumes of 5.90 lakh shares in the past two weeks.

Godrej Properties rose 4.06% at Rs 392.40. The stock was the fifth biggest gainer in A group. On the BSE, 85,000 shares were traded on the counter so far as against the average daily volumes of 89,000 shares in the past two weeks.

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Rupa & Company hits 52-week high after large bulk deal
Mar 17,2017

Meanwhile, the S&P BSE Sensex was up 67.98 points, or 0.23% to 29,653.83

Bulk deal boosted volume on the scrip. On the BSE, 17.78 lakh shares were traded in the counter so far, compared with average daily volumes of 5,418 shares in the past one quarter. The stock had hit a low of Rs 295 so far during the day. The stock hit a 52-week low of Rs 244 on 10 January 2017.

The stock had outperformed the market over the past one month till 16 March 2017, rising 18.13% compared with 5.08% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 14.6% as against Sensexs 11.69% rise.

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

Net profit of Rupa & Company rose 20.65% 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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GMR Infra corrects on profit booking
Mar 17,2017

Meanwhile, the S&P BSE Sensex was up 71.86 points, or 0.24% to 29,657.71.

On the BSE, 9.50 lakh shares were traded in the counter so far, compared with average daily volumes of 18.81 lakh shares in the past one quarter. The stock had hit a high of Rs 17.40 so far during the day, which is also a 52-week high for the counter. The stock had hit a low of Rs 16.50 so far during the day. The stock hit a 52-week low of Rs 10.25 on 9 November 2016.

The stock had outperformed the market over the past one month till 16 March 2017, rising 25% compared with 5.08% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 46.88% as against Sensexs 11.69% rise.

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

Shares of GMR Infrastructure rose 8.18% in three trading sessions to settle at Rs 17.20 yesterday, 16 March 2017, from its close of Rs 15.90 on 10 March 2017.

Meanwhile, GMR Infrastructure announced after market hours yesterday, 16 March 2017, that Delhi International Airport, a GMR led consortium, has signed a land license agreement with Airbus for setting up Indias first full flight simulator at the Aerocity ‐ Terminal District of Indira Gandhi International (IGI) Airport. On the 1.11 acre of land, the France based company will set up Indias first full flight simulator to address the growing demand of trained pilots and aircraft maintenance engineers. Airbus will also establish its India Headquarter within the same development.

The land license agreement was signed today between DIAL and Airbus India for a period till 31st March, 2036. DIAL has received the initial security deposit and ADC and will also receive an annual license fee from this license Airbus India had decided to open its full flight training centre at Delhi Aerocity ‐ Terminal district keeping in mind the growing requirements of its customers as Delhi is a key base for most of the airlines ‐ Air India, Indigo and Vistara, the company said in a statement.

GMR Infrastructure reported net loss of Rs 381.93 crore in Q3 December 2016 as against net profit of Rs 40.01 crore in Q3 December 2015. Net sales rose 250.45% to Rs 85.58 crore in Q3 December 2016 over Q3 December 2015.

GMR Group is a leading global infrastructure conglomerate with interests in Airport, Energy, Transportation and Urban Infrastructure.

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