My Application Form Status

Check the status of your application form with Angel Broking.
  • Companies
  • Everything else
Search
Stampede Capital advances after bulk deal
Sep 21,2016

Meanwhile, the S&P BSE Sensex was down 13.41 points, or 0.05%, to 28,509.79

Bulk deal boosted volume on the scrip. On BSE, so far 15.04 lakh shares were traded in the counter, compared with an average volume of 7.10 lakh shares in the past one quarter. The stock hit a high of Rs 41.40 hit a low of Rs 38.50 so far during the day. The stock hit a 52-week high of Rs 51.40 on 3 December 2015. The stock hit a 52-week low of Rs 32.50 on 20 January 2016. The stock had underperformed the market over the past 30 days till 20 September 2016, falling 4.64% compared with 1.92% rise in the Sensex. The scrip also underperformed the market in past one quarter, sliding 14.88% as against Sensexs 6.57% rise.

The small-cap firm has an equity capital of Rs 22.90 crore. Face value per share is Re 1.

Stampede Capitals consolidated net profit rose 42.73% to Rs 18.17 crore on 121.9% rise in total income to Rs 71.34 crore in Q1 June 2016 over Q1 June 2015.

Stampede Capital provides securities trading and broking services.

Powered by Capital Market - Live News

GAIL (India) gains after CCEA approves viability gap funding for gas pipeline project
Sep 21,2016

Meanwhile, the S&P BSE Sensex was down 26.90 points or 0.09% at 28,496.30.

On BSE, so far 1.2 lakh shares were traded in the counter as against average daily volume of 1.51 lakh shares in the past one quarter. The stock hit a high of Rs 392.30 and a low of Rs 386.30 so far during the day. The stock had hit a 52-week high of Rs 407.80 on 7 September 2016. The stock had hit a 52-week low of Rs 276.45 on 10 November 2015. The stock had outperformed the market over the past one month till 20 September 2016, gaining 5.97% compared with 1.59% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 0.08% as against Sensexs 6.16% rise.

The large-cap company has equity capital of Rs 1268.48 crore. Face value per share is Rs 10.

The Cabinet Committee on Economic Affairs (CCEA) today, 21 September 2016, approved viability gap funding/partial capital grant at 40% or Rs 5176 crore of the estimated capital cost of Rs 12940 crore to GAIL (India) for development of 2,539 kilometers (KM) long Jagdishpur-Haidia and Bokaro-Dhamra Gas Pipeline (JHBDPL) project. JHBDPL project will connect Eastern part of the country with National Gas Grid. Further, the CCEA approved the simultaneous development of city gas distribution (CGD) networks in few cities like Varanasi, Patna, Ranchi, Jamshedpur, Bhubaneswar, Kolkata, Cuttack etc en-route of JHBDPL project. These distribution networks will be developed by GAIL (India) in collaboration with the concerned state governments.

Separately, GAIL (India) announced that it has successfully started its first UNIPOL polyethylene process line in Pata. The announcement was made during market hours today, 21 September 2016. GAIL (India) said that UNIPOL polyethylene (PE) process line has the capacity to produce 4 lakh tons of PE per year. The total production capacity of GAILs petrochemical plant at Pata, Uttar Pradesh is now 8.1 lakh tonnes per annum. GAILs flexible high-density polyethylene (HDPE)/linear low-density polyethylene (LLDPE) swing plant provides access to a full range of resin applications which will allow GAIL and its customers to capture new market opportunities as PE market demands are changing.

The new process line gives GAIL the platform to expand its PE product capabilities, providing Indian PE converters with the high quality, domestically produced resin products needed for both large-volume markets as well as advanced performance applications.

GAIL (India)s net profit jumped 244% to Rs 1335.18 crore on 14.6% decline in net sales to Rs 10686.58 crore in Q1 June 2016 over Q1 June 2015.

State-run GAIL (India) is Indias largest natural gas company with a market share of over 80% in natural gas transmission. Apart from natural gas transmission, distribution and processing, GAIL has diversified business interests in LPG transmission, petrochemicals, city gas projects and exploration and production activities. Government of India (GoI) holds 56.11% stake in GAIL (as per shareholding pattern as on 30 June 2016).

Powered by Capital Market - Live News

MCX gains after signing MoU with Mozambique Commodities Exchange
Sep 21,2016

The announcement was made during market hours today, 21 September 2016.

Meanwhile, the S&P BSE Sensex was up 19.02 points or 0.07% at 28,542.22

On BSE, so far 61,000 shares were traded in the counter as compared with average daily volume of 46,235 shares in the past one quarter. The stock hit a high of Rs 1,038 and a low of Rs 1,005 so far during the day. The stock had hit a 52-week high of Rs 1,115.90 on 28 July 2016. The stock had hit a 52-week low of Rs 726 on 12 February 2016. The stock had underperformed the market over the past 30 days till 20 September 2016, rising 1.62% compared with 1.92% rise in the Sensex. The scrip also underperformed the market in past one quarter, gaining 3.55% as against Sensexs 6.57% rise.

The mid-cap company has equity capital of Rs 51 crore. Face value per share is Rs 10.

Multi Commodity Exchange of India (MCX) and the Mozambique Commodities Exchange (also known as Bolsa De Mercadorias De Mocambique, or BMM), yesterday, 20 September 2016 signed a Memorandum of Understanding (MoU) for strategic co-operation. BMM envisages to develop Mozambican commodity markets ecosystem consisting of energy, base metals and agricultural products in an endeavor to deliver better value to the stakeholders. MCX intends to work with BMM to help Mozambique realize its potential behind its resource rich economy through sharing its market, institutional, and capacity development expertise. The exchanges aim to continue facilitating potential collaboration in areas such as sharing of knowledge, research, experiences etc., which is expected to result in opening up of new avenues of mutual cooperation.

Multi Commodity Exchange of India (MCX)s net profit rose 54.55% to Rs 32.81 crore on 23.13% rise in total income to Rs 93.79 crore in Q1 June 2016 over Q1 June 2015.

MCX is Indias first listed, national-level, electronic, commodity futures exchange with permanent recognition from the Government of India.

Powered by Capital Market - Live News

Fiem Industries extends gains after raising funds
Sep 21,2016

Meanwhile, the S&P BSE Sensex was down 38.42 points or 0.13% at 28,484.78.

On BSE, so far 6,100 shares were traded in the counter as against average daily volume of 8,083 shares in the past one quarter. The stock hit a high of Rs 1,081 and a low of Rs 1,060.20 so far during the day. The stock had hit a record high of Rs 1,140 on 9 September 2016. The stock had hit a 52-week low of Rs 512.25 on 22 September 2015. The stock had underperformed the market over the past one month till 20 September 2016, gaining 0.49% compared with 1.59% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 26.65% as against Sensexs 6.16% rise.

The small-cap company has equity capital of Rs 11.96 crore. Face value per share is Rs 10.

Shares of Fiem Industries rose 0.92% to settle at Rs 1,057.65 yesterday, 20 September 2016 after the company said that the fund raising committee of the board of directors at a meeting held on 19 September 2016 approved the allotment of 11.97 lakh equity shares of face value of 10 each to qualified institutional buyers at the issue price of Rs 1,002 per share, aggregating to Rs 119.99 crore. The announcement was made by the company after market hours on 19 September 2016.

Fiem Industries net profit rose 20.4% to Rs 11.46 crore on 19.6% growth in net sales to Rs 241.53 crore in Q1 June 2016 over Q1 June 2015.

Fiem Industries is one of the leading manufacturers of automotive lighting & signaling equipment and rear view mirror.

Powered by Capital Market - Live News

Indoco Remedies gains after acquiring manufacturing plant at Baddi
Sep 21,2016

The announcement was made during trading hours today, 21 September 2016.

Meanwhile, the S&P BSE Sensex was down 35.20 points, or 0.12%, to 28,488

On BSE, so far 30,000 shares were traded in the counter, compared with average daily daily volume of 8,965 shares in the past one quarter. The stock hit a high of Rs 349 and a low of Rs 329 so far during the day. The stock had hit a 52-week high of Rs 360.35 on 7 September 2016. The stock had hit a 52-week low of Rs 244 on 25 February 2016. The stock had outperformed the market over the past 30 days till 20 September 2016, rising 9.91% compared with 1.92% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 26.64% as against Sensexs 6.57% rise.

The mid-cap company has equity capital of Rs 18.43 crore. Face value per share is Rs 2.

Indoco Remedies said that the manufacturing facility at Baddi, Himachal Pradesh is spread over an area of 18,000 sq.mt, out of which 11,000 sq.mt. is the built-up area. It produces 4.3 billion tablets and 50 million capsules per annum. The acquired manufacturing site is close to the companys existing manufacturing plant in Baddi, Himachal Pradesh, Indoco Remedies said. Baddi will thus be another manufacturing hub for Indoco Remedies solid dosages business in the regulated markets, the company said. With this acquisition, Indoco Remedies will now have 6 facilities for finished dosages and 3 for active pharmaceutical ingredient (APIs). Out of these, 3 facilities for finished dosages, including sterile plant and 2 facilities for API manufacturing are US Food and Drug Administration (USFDA) approved, it added.

Indoco Remedies net profit declined 4.95% to Rs 19.79 crore on 15.79% rise in net sales to Rs 252.72 crore in Q1 June 2016 over Q1 June 2015.

Indoco Remedies is a fully integrated, research-oriented pharma vompany with presence in 55 countries.

Powered by Capital Market - Live News

Rail stocks gain on buzz of cabinet approval for merger of rail and Union budget
Sep 21,2016

Meanwhile, the S&P BSE Sensex was up 44.52 points or 0.16% at 28,567.32.

NELCO (up 1.02%), Kalindee Rail Nirman (up 2.45%), Titagarh Wagons (up 3.54%), Stone India (up 4.56%), Texmaco Rail & Engineering (up 1.98%), Zicom Electronic Security Systems (up 1.65%), Kernex Microsystems (up 2.93%), and BEML (up 0.06%) gained. Hind Rectifiers fell 1.71%.

The Union Cabinet today, 21 September 2016, reportedly cleared a proposal for merger of the Railway Budget with the Union Budget. The Cabinet also reportedly cleared a proposal to remove the distinction between plan and non-plan expenditure in Budget. The government has also advanced the date for Budget presentation, according to reports. However, it is yet to announce the date.

Powered by Capital Market - Live News

Axis Bank gains after bulk deal
Sep 21,2016

Meanwhile, the S&P BSE Sensex was up 44.52 points or 0.16% at 28,567.32

Bulk deal boosted volume on the scrip. On BSE, so far 26.71 lakh shares were traded in the counter as against average daily volume of 6.91 lakh shares in the past one quarter. The stock hit a high of Rs 600 and a low of Rs 594.80 so far during the day. The stock had hit a 52-week high of Rs 638 on 7 September 2016. The stock had hit a 52-week low of Rs 366.65 on 18 January 2016. The stock had outperformed the market over the past 30 days till 20 September 2016, rising 2.21% compared with 1.92% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 14.92% as against Sensexs 6.57% rise.

The large-cap private sector bank has equity capital of Rs 477.89 crore. Face value per share is Rs 2.

Axis Banks net profit fell 21.38% to Rs 1555.53 crore on 13.22% growth in total income to Rs 13852.18 crore in Q1 June 2016 over Q1 June 2015.

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

Powered by Capital Market - Live News

Volumes jump at KSB Pumps counter
Sep 21,2016

KSB Pumps clocked volume of 1.61 lakh shares by 13:20 IST on BSE, a 173.62-times surge over two-week average daily volume of 1,000 shares. The stock was up 0.01% at Rs 616.60.

Gokaldas Exports notched up volume of 11.18 lakh shares, a 10.12-fold surge over two-week average daily volume of 1.11 lakh shares. The stock surged 16.55% at Rs 83.80.

Welspun Enterprises saw volume of 13.14 lakh shares, a 9.82-fold surge over two-week average daily volume of 1.34 lakh shares. The stock jumped 7.52% at Rs 67.90.

Prabhat Dairy clocked volume of 6.14 lakh shares, a 9.47-fold surge over two-week average daily volume of 65,000 shares. The stock was locked at 20% upper circuit at Rs 118.20.

Vivimed Labs saw volume of 5.76 lakh shares, a 8.04-fold rise over two-week average daily volume of 72,000 shares. The stock surged 10.01% at Rs 87.90.

Powered by Capital Market - Live News

Inox Leisure inches up as RBI allows hike in foreign investment limit
Sep 21,2016

Meanwhile, the S&P BSE Sensex was up 131.14 points or 0.46% at 28,654.34

On BSE, so far 46,000 shares were traded in the counter as against average daily volume of 50,416 shares in the past one quarter. The stock hit a high of Rs 278.90 and a low of Rs 270.55 so far during the day. The stock had hit a record high of Rs 292.90 on 2 September 2016. The stock had hit a 52-week low of Rs 170 on 12 February 2016. The stock had underperformed the market over the past 30 days till 20 September 2016, rising 0.43% compared with 1.92% rise in the Sensex. The scrip, however, outperformed the market in past one quarter, gaining 18.95% as against Sensexs 6.57% rise.

The small-cap company has equity capital of Rs 96.46 crore. Face value per share is Rs 10.

The Reserve Bank of India (RBI) yesterday, 20 September 2016 notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) from default can now invest from existing 24% up to 49% of the paid up capital of Inox Leisure under the Portfolio Investment Scheme (PIS). The Reserve Bank of India (RBI) has stated that the company has passed resolution at its board of directors level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares by FIIs/RFPIs. The purchases could be made through primary market and stock exchanges, RBI said. Foreign institutional investors holding in Inox Leisure stood at 22.47% (as at end 30 June 2016).

On consolidated basis, Inox Leisures net profit fell 1.27% to Rs 24.96 crore on 11.65% growth in total income to Rs 339.36 crore in Q1 June 2016 over Q1 June 2015.

Inox Leisure is the diversification venture of the Inox group into entertainment. The company currently operates 109 multiplexes and 429 screens in 57 cities making it a truly pan-Indian multiplex chain.

Powered by Capital Market - Live News

GAIL (India) gains after starting operations of first polyethylene process line
Sep 21,2016

The announcement was made during market hours today, 21 September 2016.

Meanwhile, the S&P BSE Sensex was up 131.27 points or 0.46% at 28,654.47.

On BSE, so far 70,656 shares were traded in the counter as against average daily volume of 1.51 lakh shares in the past one quarter. The stock hit a high of Rs 392.30 and a low of Rs 386.30 so far during the day. The stock had hit a 52-week high of Rs 407.80 on 7 September 2016. The stock had hit a 52-week low of Rs 276.45 on 10 November 2015. The stock had outperformed the market over the past one month till 20 September 2016, gaining 5.97% compared with 1.59% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 0.08% as against Sensexs 6.16% rise.

The large-cap company has equity capital of Rs 1268.48 crore. Face value per share is Rs 10.

GAIL (India) said that UNIPOL polyethylene (PE) process line has the capacity to produce 4 lakh tons of PE per year. The total production capacity of GAILs petrochemical plant at Pata, Uttar Pradesh is now 8.1 lakh tonnes per annum. GAILs flexible high-density polyethylene (HDPE)/linear low-density polyethylene (LLDPE) swing plant provides access to a full range of resin applications which will allow GAIL and its customers to capture new market opportunities as PE market demands are changing.

The new process line gives GAIL the platform to expand its PE product capabilities, providing Indian PE converters with the high quality, domestically produced resin products needed for both large-volume markets as well as advanced performance applications.

GAIL (India)s net profit jumped 244% to Rs 1335.18 crore on 14.6% decline in net sales to Rs 10686.58 crore in Q1 June 2016 over Q1 June 2015.

State-run GAIL (India) is Indias largest natural gas company with a market share of over 80% in natural gas transmission. Apart from natural gas transmission, distribution and processing, GAIL has diversified business interests in LPG transmission, petrochemicals, city gas projects and exploration and production activities. Government of India (GoI) holds 56.11% stake in GAIL (as per shareholding pattern as on 30 June 2016).

Powered by Capital Market - Live News

Essel Propack scales record high after announcing acquisition of Germany firm
Sep 21,2016

The announcement was made before market hours today, 21 September 2016.

Meanwhile, the S&P BSE Sensex was up 148.62 points or 0.52% at 28,671.82

On BSE, so far 61,000 shares were traded in the counter as against average daily volume of 9,268 shares in the past one quarter. The stock hit a high of Rs 245.20 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 232.50 so far during the day. The stock had hit a 52-week low of Rs 132.50 on 20 January 2016. The stock had outperformed the market over the past 30 days till 20 September 2016, rising 2.77% compared with 1.92% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 15.12% as against Sensexs 6.57% rise.

The mid-cap company has equity capital of Rs 31.42 crore. Face value per share is Rs 2.

Essel Propack today, 21 September 2016 announced a complete buyout of Essel Deutschland Germany (EDG). Following this transaction, EDG will be a 100% subsidiary of Essel Propack. Until now, Essel Propack has been a joint venture (JV) partner with 24.9% share in EDG. The enterprise value of EDG stands at $32 million.

The acquisition will help the company unlock synergies such as enhanced cross selling opportunity in the German markets, sourcing flexibility and better capacity utilization at all of its Europe plants, Essel Propack said. The company now can deploy its proven capability to offer high decoration laminated tube solutions for the premium non oral care brands across Europe, including Germany, it said. Essel Propack will also have the benefit of a long term supply agreement which EDG has recently signed with a local oral care company, it added.

The EDG revenue of approximately $40 million will now be consolidated in Essels global revenue and will boost consolidated revenue by 11%. In the year ended 31 March 2016 (FY 2016), Essel Propacks consolidated revenue stood at Rs 2184 crore.

Ram Ramasamy, Global COO, Essel Propack, said that the complete buyout will enable the company to step up productivity and efficiency to those of other Essel Propack plants and improve overall profits.

Essel Propacks consolidated net profit rose 6.03% to Rs 37.62 crore on 6.31% fall in net sales to Rs 517.64 crore in Q1 June 2016 over Q1 June 2015.

Essel Propack is the largest specialty packaging global company, manufacturing laminated plastic tubes catering to the FMCG and Pharma space.

Powered by Capital Market - Live News

Shriram EPC gains after bagging order
Sep 21,2016

The announcement was made during market hours today, 21 September 2016.

Meanwhile, the BSE Sensex was up 148.91 points, or 0.52%, to 28,672.11.

Higher than normal volumes were witnessed on the counter. On BSE, so far 2.12 lakh shares were traded in the counter, compared with an average volume of 42,546 shares in the past one quarter. The stock hit a high of Rs 27.80 and a low of Rs 23 so far during the day. The stock hit a 52-week high of Rs 38.55 on 6 January 2016. The stock hit a record low of Rs 19 on 8 June 2016. The stock had outperformed the market over the past one month till 20 September 2016, gaining 7.16% compared with 1.59% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 2.43% as against Sensexs 6.16% rise.

The small-cap company has an equity capital of Rs 330.63 crore. Face value per share is Rs 10.

Shriram EPC said that it received the order from Chennai Metropolitan Water Supply and Sewerage Board (CMWSSB) Chennai for providing comprehensive water supply scheme to Pallikaranai and Mugalivakkam areas in Chennai city. The project is to be executed over a period of 24 months.

Shriram EPC reported net loss of Rs 41.84 crore in Q1 June 2016, higher than net loss of Rs 2.79 crore in Q1 June 2015. Net sales declined 37.6% to Rs 94.45 crore in Q1 June 2016 over Q1 June 2015.

Shriram EPC offers design, engineering, procurement, construction and project management services for infrastructure projects.

Powered by Capital Market - Live News

IRB Infrastructure gains after bagging road project
Sep 21,2016

The announcement was made after market hours yesterday, 20 September 2016.

Meanwhile, the BSE Sensex was up 148.22 points, or 0.52%, to 28,669.08.

On BSE, so far 2.9 lakh shares were traded in the counter, compared with average daily volume of 2.64 lakh shares in the past one quarter. The stock hit a high of Rs 255.55 and a low of Rs 250.55 so far during the day. The stock hit a 52-week high of Rs 272.20 on 20 October 2015. The stock hit a 52-week low of Rs 197 on 24 June 2016. The stock had outperformed the market over the past one month till 20 September 2016, gaining 7.93% compared with 1.59% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 17.09% as against Sensexs 6.16% rise.

The mid-cap company has equity capital of Rs 351.45 crore. Face value per share is Rs 10.

IRB Infrastructure Developers (IRB) said that it has emerged as a preferred bidder for the project of six laning from Kishangarhn++Udaipurn++Ahmedabad section of around 125 kilometres in Rajasthan. The project is on design-build-finance-operate-transfer (DBFOT) (toll) pattern basis under National Highways Development Project (NHDP)s Phase V (package-V). The concession period of the project is 20 years including construction period of 910 days. The company will get tolling rights on project from the appointed date. The company has offered premium of Rs 228.60 crore to National Highways Authority of India (NHAI) in terms of the concession agreement. Upon award of this project, IRBs construction order book will stand to increase to approximately Rs 11300 crore, to be executed in the next four years. This will boost the companys construction orderbook visibility for next three to four years.

On a consolidated basis, net profit of IRB Infrastructure Developers rose 10.4% to Rs 181.84 crore on 36.8% rise in net sales to Rs 1517.33 crore in Q1 June 2016 over Q1 June 2015.

IRB Infrastructure Developers is an integrated infrastructure development and construction company with significant experience in toll roads and highways sector. The company is one of the largest private developers in India.

Powered by Capital Market - Live News

TeamLease Services surges after signing agreement to acquire Nichepro
Sep 21,2016

The announcement was made after market hours yesterday, 20 September 2016.

Meanwhile, the S&P BSE Sensex was up 85.97 points, or 0.3%, to 28,609.17

On BSE, so far 2,158 shares were traded in the counter, compared with average daily volume of 3,687 shares in the past one quarter. The stock hit a high of Rs 1,156 and a low of Rs 1,123.85 so far during the day. The stock hit a record high of Rs 1,207.70 on 16 February 2016. The stock hit a record low of Rs 790 on 28 April 2016. The stock had outperformed the market over the past 30 days till 20 September 2016, rising 3.06% compared with 1.92% rise in the Sensex. The scrip also outperformed the market in past one quarter, rising 19.45% as against Sensexs 6.57% rise.

The small-cap company has an equity capital of Rs 17.10 crore. Face value per share is Rs 10.

TeamLease Services yesterday, 20 September 2016, announced the signing of a definitive agreement to acquire Nichepro Technologies (Nichepro). TeamLease Services will acquire Nichepro for an enterprise value of Rs 29.5 crores through its wholly owned subsidiary, TeamLease Staffing Services. The transaction, which will be immediately accretive to the companys earnings per share, will be financed with existing financial resources and is expected to close before the end of October 2016, TeamLease Services said. The transaction remains subject to customary closing conditions and regulatory approvals, the company said.

Bangalore headquartered Nichepro offers IT staffing solutions to various IT product companies with over 150 associates and 30 core employees as of date. Nichepro is a Tier 1 staffing provider to reputed multinational corporations and niche product companies. Nichepro realized revenue of approximately Rs 26 crore from staffing services with an earnings before interest, taxation, depreciation and amortization (EBITDA) of approximately Rs 6.8 crore in the year ended 31 March 2016 (FY2016).

Ashok Kumar Nedurumalli, Managing Director & Co-Founder, TeamLease Services said this acquisition strengthens the companys IT staffing vertical.

Team Lease Services consoldiated net profit rose 48.39% to Rs 7.36 crore on 20.71% rise in net sales to Rs 675.16 crore in Q1 June 2016 over Q1 June 2015.

TeamLease Services provides human resource services. Its services span the entire people supply chain of human resources, covering employment, employability and education. Its employment services include staffing solutions, recruitment services and compliance services. The companys employability offerings include different types of learning and training solutions for retail, institutional and enterprise customers.

Powered by Capital Market - Live News

M&M gains after incorporating subsidiary company in Brazil
Sep 21,2016

The announcement was made before market hours today, 21 September 2016.

Meanwhile, the BSE Sensex was up 82.51 points, or 0.29%, to 28,605.71.

On BSE, so far 5,757 shares were traded in the counter, compared with average daily volume of 75,233 shares in the past one quarter. The stock hit a high of Rs 1,415 and a low of Rs 1,403.30 so far during the day. The stock hit a record high of Rs 1,508.80 on 9 August 2016. The stock hit a 52-week low of Rs 1,092 on 12 February 2016. The stock had underperformed the market over the past one month till 20 September 2016, sliding 3.03% compared with 1.59% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 4.36% as against Sensexs 6.16% rise.

The large-cap company has equity capital of Rs 310.55 crore. Face value per share is Rs 5.

Mahindra & Mahindra (M&M) said that it has incorporated a subsidiary company in Brazil namely CMN Solutions Q013 Participacoes Ltda. M&M along with its wholly owned subsidiary Mahindra Overseas Investment Company (Mauritius) (MOICML) have executed a quota agreement and transfer engagement for acquiring 100 shares aggregating 100% of the capital stock of CMN Solutions which will enable this new company to acquire assets of a tractor distributor in Brazil namely Bramont Montadora Industrial e Commercial de Veiculos S.A. (Bramont). The acquired company is a shell company engaged in tractor distribution and has no operations till date. The cost of acquisition would not exceed $8.02 million out of which M&M would pay a consideration not exceeding $8 million for its stake in the target. The consideration for acquisition in cash would be paid upon receipt of approval from the Reserve Bank of India (RBI). The indicative time period for completion of the acquisition is October 2016.

M&Ms net profit rose 12.4% to Rs 955.21 crore on 12.3% growth in net sales to Rs 10898.08 crore in Q1 June 2016 over Q1 June 2015.

M&M enjoys a leadership position in tractors and utility vehicles in India.

Powered by Capital Market - Live News