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Orchid Pharma rallies 7.21% in two sessions
Apr 19,2017

Meanwhile, the S&P BSE Sensex was down 10.01 points, or 0.03% at 29,329.11. The S&P BSE Small-cap index was up 63.91 points, 0.43% at 14,908.02.

On the BSE, 3.43 lakh shares were traded on the counter so far as against the average daily volumes of 1.99 lakh shares in the past one quarter. The stock had hit a high of Rs 37.90 and a low of Rs 36.75 so far during the day.

The stock had hit a 52-week high of Rs 45.90 on 22 April 2016 and a 52-week low of Rs 23.70 on 22 November 2016. The stock had outperformed the market over the past one month till 18 April 2017, advancing 30.07% compared with the Sensexs 1.11% decline. The scrip had also outperformed the market over the past one quarter advancing 28.02% as against the Sensexs 7.56% rise.

The small-cap company has equity capital of Rs 88.96 crore. Face value per share is Rs 10.

Shares of Orchid Pharma have rallied 7.21% in two trading sessions from its close of Rs 34.70 on 17 April 2017, after the company announced during market hours yesterday, 18 April 2017, that it received the Establishment Inspection Report (EIR) from the United States Food and Drug Administration (USFDA) based on the successful inspection of the formulation manufacturing facility located in Kancheepuram District, Tamil Nadu. The facility was inspected by USFDA in December 2016. The stock had rallied 5.33% to settle at Rs 36.55 yesterday, 18 April 2017.

Separately, Orchid Pharma said that Credit Analysis & Research (CARE) has revised the ratings on the long-term bank facilities of the company to CARE D from CARE B-. It has revised the ratings on the short-term bank facilities of the company to CARE D from CARE A4.

The revision in ratings assigned to the bank facilities of Orchid Pharma takes into account instances of delay in debt servicing. The announcement was made after market hours on Monday, 17 April 2017.

Orchid Pharma reported net loss of Rs 60.98 crore in Q3 December 2016, compared with net loss of Rs 94.02 crore in Q3 December 2015. Net sales declined 13.1% to Rs 177.27 crore in Q3 December 2016 over Q3 December 2015.

Orchid Pharma is a globally recognized, integrated pharmaceutical company with core competencies in the development and manufacture of Active Pharmaceutical Ingredients (APIs) and Finished Dosage Forms as well as in drug discovery.

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Coal India moves north on reports of brokerage upgrade
Apr 19,2017

Meanwhile, the S&P BSE Sensex was down 0.54 point at 29,318.56.

On the BSE, 2.21 lakh shares were traded on the counter so far as against the average daily volumes of 4.61 lakh shares in the past one quarter. The stock had hit a high of Rs 283.35 and a low of Rs 276.05 so far during the day.

The stock had hit a 52-week high of Rs 349.85 on 17 August 2016 and a 52-week low of Rs 272.65 on 4 May 2016. It had underperformed the market over the past one month till 18 April 2017, sliding 3.68% compared with the Sensexs 1.11% fall. The scrip had also underperformed the market over the past one quarter, declining 9.57% as against the Sensexs 7.56% rise.

The large-cap company has equity capital of Rs 6207.41 crore. Face value per share is Rs 10.

The potential upside in Coal India stock price is in addition to around 6% dividend yield and is very attractive compared to its cost of equity, the broker reportedly said.

Coal India deserves a premium over other metal and mining stocks due to its dominant position in the Indian markets and its current coal pricing being very competitive, which has virtually no downside risk, the brokerage added.

Meanwhile, Coal India after market hours yesterday, 18 April 2017, issued clarification to the stock exchanges with respect to news appeared in media on 17 April 2017 titled 177 mines of Coal India downgraded on quality concernsn++. The company said that coal is a heterogeneous mineral, susceptible to qualitative variation particularly in Indian context because of its origin and formation. As per earlier practice, annual declaration of grade proposed by coal companies on the basis of own sample collection and analysis at government accredited laboratories, which was being approved by Coal Controller in due course.

As per statutory provisions, subject of maintenance of grades requires monitoring which is vested with Coal Controller Organization (CCO). Annual declaration of grades is a routine exercise, being carried out by coal companies as per directives and methodology prescribed by CCO, Coal India said. During FY16-17, 52 mines/seams were regarded. Again, during reassessment another 22 mines were regarded, the company said.

During FY17-18, as per directives of government, Coal Controller announced new methodology for declaration of grade. Under revised methodology, sampling and analysis of different seams/loading points was carried out through academic institutions and based on their results, CCO finalized the grades, Coal India said.

Independent certification of coal grade through CC0 and analysis through CIMFR will help Coal India to achieve consumers confidence and satisfaction besides less slippages in future, the company said. Re-calibration of entire grading methodology is also going to help government in its mission to make cheap power available to common person, it added.

Coal Indias consolidated net profit fell 20.3% to Rs 2884.47 crore on 3.9% rise in net sales to Rs 19704.45 crore in Q3 December 2016 over Q3 December 2015.

Coal India (CIL) as an organized state owned coal mining corporate. The government of India held 78.86% stake in the company as per shareholding pattern as on 31 March 2017.

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Jain Irrigation spurts after acquisition in US
Apr 19,2017

The announcement was made during trading hours today, 19 April 2017.

Meanwhile, the S&P BSE Sensex was down 7.64 points, or 0.03% to 29,311.46.

On the BSE, 27.13 lakh shares were traded in the counter so far, compared with average daily volumes of 4.56 lakh shares in the past one quarter. The stock had hit a high of Rs 109.55 and a low of Rs 99.60 so far during the day. The stock hit a 52-week high of Rs 109.55 on 19 April 2017. The stock hit a 52-week low of Rs 59.90 on 29 April 2016.

The stock had outperformed the market over the past one month till 18 April 2017, rising 4.25% compared with 0.68% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 5.41% as against Sensexs 7.56% rise.

The mid-cap company has equity capital of Rs 92.03 crore. Face value per share is Rs 2.

Jain Irrigation Systems (JISL), through its US-based wholly owned subsidiary, agreed to acquire 80% stake in two US-based entities. Two of the United States largest micro-irrigation dealers - Agri-Valley Irrigation, Inc. (AVI) and Irrigation Design and Construction, Inc. (IDC), have entered into an agreement to merge ownership of their businesses into a newly formed distribution company. The new organization is an un-paralleled leader in design, construction, service, and innovative Ag Technology. This entity will provide a unique platform to help growers implement state-of-the-art irrigation technology and achieve More Crop Per Drop. AVI and IDC have been long tenured stable companies with operations in United States of America.

This is a key strategic investment by JISL into one of the largest irrigation markets in the world. JISL already has a presence in US micro irrigation market through its wholly owned subsidiary Jain Irrigation, Inc., (JIl) which is headquartered in Fresno, California. California drought has now eroded with significant rains over the last few months. Therefore, now there is strong irrigation business opportunity in the next 18-24 months for the merged distribution company as well as JIl.

The merger will help Jain Irrigation to forward integrate itself in the value chain and build direct relationship with growers. This fits into companys strategy to participate in end-to-end project solutions to harness companys unique capabilities in Integrated Irrigation project solutions. No government or regulatory approvals are required to complete the transaction. The transaction is expected to be completed in the next few weeks.

The consideration for transaction will be paid in cash not exceeding $48.50 million and subject to net working capital adjustments at the time of closing. Transaction is expected to be closed in the next few weeks.

On a consolidated basis, Jain Irrigation Systems reported net profit of Rs 6.15 crore in Q3 December 2016 compared with net loss of Rs 23.01 crore in Q3 December 2015. Net sales rose 4.5% to Rs 1417.82 crore in Q3 December 2016 over Q3 December 2015.

Jain Irrigation Systems is engaged in manufacturing of micro irrigation systems, PVC pipes, HDPE pipes, plastic sheets, agro processed products, renewable energy solutions, tissue culture plants, financial services and other agricultural inputs.

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Nalco leads losers in BSEs A group
Apr 19,2017

National Aluminium Company (Nalco) declined 7.49% at Rs 67.95 at 13:46 IST. The stock topped the losers in A group. On the BSE, 8.17 lakh shares were traded on the counter so far as against the average daily volumes of 2.05 lakh shares in the past two weeks.

Jindal Steel & Power (JSPL) fell 5.98% at Rs 111.65. The stock was the second biggest loser in A group. On the BSE, 23.71 lakh shares were traded on the counter so far as against the average daily volumes of 14.94 lakh shares in the past two weeks.

TV18 Broadcast skid 2.92% at Rs 41.60. The stock was the third biggest loser in A group. On the BSE, 11.38 lakh shares were traded on the counter so far as against the average daily volumes of 6.23 lakh shares in the past two weeks.

NLC India was down 2.67% at Rs 102. The stock was the fourth biggest loser in A group. On the BSE, 35,000 shares were traded on the counter so far as against the average daily volumes of 58,000 shares in the past two weeks.

Religare Enterprises lost 2.56% at Rs 200.10. The stock was the fifth biggest loser in A group. On the BSE, 5,208 shares were traded on the counter so far as against the average daily volumes of 10,000 shares in the past two weeks.

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Volumes jump at Hathway Cable & Datacom counter
Apr 19,2017

Hathway Cable & Datacom clocked volume of 26.03 lakh shares by 13:29 IST on BSE, a 27.05-times surge over two-week average daily volume of 96,000 shares. The stock rose 10.81% to Rs 41.50.

Techno Electric & Engineering Company notched up volume of 1.39 lakh shares, a 22.34-fold surge over two-week average daily volume of 6,000 shares. The stock fell 1.33% to Rs 376.

Alembic Pharmaceuticals saw volume of 2.38 lakh shares, a 15.48-fold surge over two-week average daily volume of 15,000 shares. The stock rose 1.39% to Rs 618.45.

Atishay clocked volume of 8.64 lakh shares, a 11.19-fold surge over two-week average daily volume of 77,000 shares. The stock rose 1.95% to Rs 81.10.

Whirlpool of India saw volume of 46,000 shares, a 11.02-fold rise over two-week average daily volume of 4,000 shares. The stock rose 1.10% to Rs 1,229.85.

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New order boosts RPP Infra Projects
Apr 19,2017

The announcement was made during market hours today, 19 April 2017.

Meanwhile, the S&P BSE Sensex was down 14.69 points or 0.05% at 29,333.79. The S&P BSE Small-Cap index was up 79.07 points or 0.53% at 14,923.18.

On the BSE, 19,000 shares were traded on the counter so far as against the average daily volumes of 71,480 shares in the past one quarter. The stock had hit a high of Rs 284 and a low of Rs 270.60 so far during the day.

The stock had hit a record high of Rs 362.20 on 10 February 2017 and a 52-week low of Rs 138.50 on 16 November 2016. It had outperformed the market over the past one month till 18 April 2017, advancing 2.86% compared with the Sensexs 1.11% fall. The scrip had, however, underperformed the market over the past one quarter, advancing 2.6% as against the Sensexs 7.56% rise.

The small-cap company has equity capital of Rs 22.60 crore. Face value per share is Rs 10.

The consortium of Siemens and RPP Infra Projects won order from Power Grid Company of Bangladesh (PGCB). The joint bid was submitted by Siemens and RPP Infra Projects PGCB in respect of design, supply, erection, testing and commissioning of 230 KV and 132 KV substations on turnkey basis. Scope of the order for RPP Infra Projects will be in the civil work with the share worth about Rs 97 crore.

Arulsundaram - Chairman & Managing Director of RPP Infra Projects said that this is significant development for RPP Infra Projects to work with Siemens, India. This is subsequent development in the right direction for RPP Infra Projects to execute orders in the International market. The said consortium would provide strength and will create better valuation for RPP Infra Projects shareholders, he said.

On consolidated basis, RPP Infra Projects net profit rose 53.7% to Rs 3.95 crore on 7.9% growth in net sales to Rs 78.25 crore in Q3 December 2016 over Q3 December 2015.

RPP Infra Projects is engaged in the business of infrastructure development such as highways, roads, bridges, civil construction works, irrigation and water supply projects and power plant.

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Sutlej Textiles gains after getting pollution control board nod for Rajasthan dyeing plant
Apr 19,2017

The announcement was made during trading hours today, 19 April 2017.

Meanwhile, the S&P BSE Sensex was down 23.04 points, or 0.08% to 29,296.06.

On the BSE, 556 shares were traded in the counter so far, compared with average daily volumes of 2,086 shares in the past one quarter. The stock had hit a high of Rs 915 and a low of Rs 900 so far during the day. The stock hit a record high of Rs 950 on 7 February 2017. The stock hit a 52-week low of Rs 473 on 2 May 2016.

The stock had outperformed the market over the past one month till 18 April 2017, rising 12.50% compared with 0.68% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 9.35% as against Sensexs 7.56% rise.

The small-cap company has equity capital of Rs 16.38 crore. Face value per share is Rs 10.

On 8 November 2016, Sutlej Textiles and Industries had informed that the dyeing plant of Rajasthan Textile Mills, Bhawanimandi, a unit of company, was shut till further directions after receiving notice from the Pollution Control Board, Rajasthan. The impact of the shut down was negligible as the required dyed fibre was arranged from other units of the company.

The company announced today,19 April 2017, that upon a review, the Pollution Control Board, Rajasthan, has permitted the company to carry on with the operations at the Bhawanimandi unit.

Net profit of Sutlej Textiles and Industries declined 1.5% to Rs 27.68 crore on 2.1% decline in net sales to Rs 529.08 crore in Q3 December 2016 over Q3 December 2015.

Sutlej Textiles and Industries is an integrated textile manufacturing company.

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Bajaj Corp off 9.5% in three sessions
Apr 19,2017

Meanwhile, the S&P BSE Sensex was down 42.55 points or 0.15% at 29,276.55. The S&P BSE Mid-Cap index was up 45.01 points or 0.31% at 14,341.14.

On the BSE, 4,243 shares were traded on the counter so far as against the average daily volumes of 10,190 shares in the past one quarter. The stock had hit a high of Rs 396.50 and a low of Rs 386 so far during the day.

The stock had hit a 52-week high of Rs 436 on 10 October 2016 and a 52-week low of Rs 340 on 12 December 2016. It had outperformed the market over the past one month till 18 April 2017, advancing 5.03% compared with the Sensexs 1.11% fall. The scrip had, however, underperformed the market over the past one quarter, gaining 0.59% as against the Sensexs 7.56% rise.

The mid-cap company has equity capital of Rs 14.75 crore. Face value per share is Rs 1.

Shares of Bajaj Corp have fallen 9.46% in three trading sessions from its closing of Rs 428.85 on 13 April 2017, after the company at the fag end of trading session on 13 April 2017 reported weak Q4 March 2017 results.

Bajaj Corps net profit fell 2.9% to Rs 52.67 crore on 1.9% decline in net sales to Rs 204.21 crore in Q4 March 2017 over Q4 March 2016.

Bajaj Corp is an FMCG company with major brands in hair care category.

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Omax Autos declines after reverse turnaround in Q4
Apr 19,2017

The result was announced after market hours yesterday, 18 April 2017.

Meanwhile, the S&P BSE Sensex was up 24.64 points, or 0.08% at 29,343.74. The S&P BSE Small-cap index was up 70.04 points, 0.47% at 14,914.15.

On the BSE, 6,615 shares were traded on the counter so far as against the average daily volumes of 6,782 shares in the past one quarter. The stock had hit a high of Rs 84.95 and a low of Rs 81.10 so far during the day.

The stock had hit a 52-week high of Rs 103.40 on 21 October 2016 and a 52-week low of Rs 57.25 on 6 June 2016. The stock had outperformed the market over the past one month till 18 April 2017, advancing 11.23% compared with the Sensexs 1.11% decline. The scrip had also outperformed the market over the past one quarter advancing 13.91% as against the Sensexs 7.56% rise.

The small-cap company has equity capital of Rs 21.39 crore. Face value per share is Rs 10.

Omax Autos total revenue fell 0.94% to Rs 259.76 crore in Q4 March 2017 over Q4 March 2016.

Omax Autos is one of the leading manufacturers of auto and non-auto components in India. The company specializes in sheet metal components, tubular components and machined components.

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Alembic Pharma gains after getting USFDA tentative approval for MDD drug
Apr 19,2017

The announcement was made during trading hours today, 19 April 2017.

Meanwhile, the S&P BSE Sensex was up 31.41 points, or 0.11% to 29,350.51.

On the BSE, 8,115 shares were traded in the counter so far, compared with average daily volumes of 55,339 shares in the past one quarter. The stock had hit a high of Rs 629 and a low of Rs 616 so far during the day.

The stock hit a 52-week high of Rs 709.30 on 23 March 2017. The stock hit a 52-week low of Rs 517.90 on 24 June 2016.

Alembic Pharmaceuticals announced that it received tentative approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for vilazodone hydrochloride tablets, 10mg, 20mg and 40mg. The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD) Viibryd Tablets, 10 mg, 20mg and 40mg, of Forest Labs LLC. Vilazodone Hydrochloride Tablets are indicated for the treatment of Major Depressive Disorder (MDD). Alembic is currently in litigation with Forest Labs LLC in District Court of Delaware and has stipulated to stay the case in view of the ongoing settlement discussions.

Vilazodone Hydrochloride Tablets have an estimated market size of $340 million for twelve months ending December 2016 according to IMS. Alembic now has a total of 54 ANDA approvals (47 final approvals and 7 tentative approvals) from the USFDA.

On a consolidated basis, net profit of Alembic Pharmaceuticals declined 67.81% to Rs 86.55 crore on 15.9% decline in net sales to Rs 769.86 crore in Q3 December 2016 over Q3 December 2015.

Alembic Pharmaceuticals, a vertically integrated research and development pharmaceutical company, manufactures and markets generic pharmaceutical products all over the world.

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VST Inds drops after poor Q4 results
Apr 19,2017

The result was announced after market hours yesterday, 18 April 2017.

Meanwhile, the S&P BSE Sensex was up 25.41 points or 0.09% at 29,344.51. The S&P BSE Mid-Cap index was up 63.89 points or 0.45% at 14,360.02.

On the BSE, 145 shares were traded on the counter so far as against the average daily volumes of 535 shares in the past one quarter. The stock had hit a high of Rs 3,095.20 and a low of Rs 3,005 so far during the day.

The stock had hit a record high of Rs 3,216.45 on 18 April 2017 and a 52-week low of Rs 1,595 on 26 April 2016. It had outperformed the market over the past one month till 18 April 2017, surging 9.25% compared with the Sensexs 1.11% fall. The scrip had also outperformed the market over the past one quarter, advancing 27.31% as against the Sensexs 7.56% rise.

The mid-cap company has equity capital of Rs 15.44 crore. Face value per share is Rs 10.

VST Industries board recommended a final dividend of Rs 75 per share for FY 2017.

VST Industries principal activities are manufacturing and selling cigarettes and unmanufactured tobacco.

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HOEC gains after turnaround Q4 results
Apr 19,2017

The result was announced after market hours yesterday, 18 April 2017.

Meanwhile, the S&P BSE Sensex was up 11.40 points, or 0.04% to 29,330.50.

On the BSE, 2.59 lakh shares were traded in the counter so far, compared with average daily volumes of 3.55 lakh shares in the past one quarter. The stock had hit a high of Rs 88 and a low of Rs 84.50 so far during the day. The stock hit a 52-week high of Rs 89.30 on 13 April 2017. The stock hit a 52-week low of Rs 32.35 on 24 May 2016.

The stock had outperformed the market over the past one month till 18 April 2017, rising 18.35% compared with 0.68% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 25.13% as against Sensexs 7.56% rise.

The small-cap company has equity capital of Rs 130.49 crore. Face value per share is Rs 10.

Hindustan Oil Exploration Company (HOEC)s net sales rose 37.41% to Rs 7.97 crore in Q4 March 2017 over Q4 March 2016.

HOECs net profit surged 942.41% to Rs 36.38 crore on 11.71% decline in net sales to Rs 25.02 crore in the year ended March 2017 over the year ended March 2016.

Hindustan Oil Exploration Company (HOEC) is an oil and gas company.

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Polaris Consulting declines on profit booking
Apr 19,2017

Meanwhile, the S&P BSE Sensex was up 7.84 points, or 0.03% at 29,326.94. The S&P BSE Small-cap index was up 34.27 points, 0.23% at 14,878.38.

On the BSE, 37,000 shares were traded on the counter so far as against the average daily volumes of 74,881 shares in the past one quarter. The stock had hit a high of Rs 226.05 and a low of Rs 216.35 so far during the day.

The stock had hit a 52-week high of Rs 231.70 on 18 April 2017 and a 52-week low of Rs 141.10 on 9 November 2016. The stock had outperformed the market over the past one month till 18 April 2017, advancing 26.4% compared with the Sensexs 1.11% decline. The scrip had also outperformed the market over the past one quarter advancing 37.53% as against the Sensexs 7.56% rise.

The small-cap company has equity capital of Rs 51.06 crore. Face value per share is Rs 5.

Polaris Consulting & Services had rallied 26.55% in the preceding four trading sessions to settle at Rs 225 yesterday, 18 April 2017, from its closing of Rs 177.80 on 11 April 2017.

Polaris Consulting & Services consolidated net profit rose 15.82% to Rs 47.65 crore on 1.72% increase in net sales to Rs 515.45 crore in Q3 December 2016 over Q2 September 2016.

Polaris Consulting & Services is a leader in solutions and services that enable operational productivity for the global financial services industry.

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SPML Infra jumps after substantially completing Gujarat irrigation project
Apr 19,2017

The announcement was made after market hours yesterday, 18 April 2017.

Meanwhile, the S&P BSE Sensex was down 46.03 points, or 0.16% to 29,273.07.

On the BSE, 22,000 shares were traded in the counter so far, compared with average daily volumes of 25,400 shares in the past one quarter. The stock had hit a high of Rs 93.80 and a low of Rs 89.60 so far during the day. The stock hit a 52-week high of Rs 108.80 on 13 July 2016. The stock hit a 52-week low of Rs 48.70 on 22 November 2016.

The stock had outperformed the market over the past one month till 18 April 2017, rising 48.50% compared with 0.68% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 59.93% as against Sensexs 7.56% rise.

The small-cap company has equity capital of Rs 7.33 crore. Face value per share is Rs 2.

Prime Minister Narendra Modi along with Vijay Rupani, chief minister of Gujarat inaugurated the completion of Phase-I of Saurashtra Narmada Avtran Irrigation (SAUNI) Yojana project in Botad, Gujarat by formally releasing Narmada water in Krushna Sagar dam.

The project envisage to divert one million acre feet (1 MAF) water of Narmada Dam to Saurashtra to distribute it to 115 reservoirs through 1115 kilometer long network of giant pipelines to irrigate 1.8 million hectare of land, mainly in Saurashtra, Kutch and north Gujarat regions, benefiting millions of farmers. It will also supply irrigation water to 2.46 lakh hectares in drought-prone Barmer and Jalore districts in Rajasthan and some parts of Maharashtra apart from generating hydropower. This project has also solved the drinking water scarcity of 132 towns and 11,456 villages in the Saurashtra, Kutch, North Gujarat, Panchmahal and Ahmedabad regions. About 1,650 MLD of potable water is supplied to 39 million people across these regions and along with good agriculture produce; it is boosting the economy of the state.

SPML Infras net profit rose 388.5% to Rs 1.27 crore on 90.1% growth in net sales to Rs 426.40 in Q3 December 2016 over Q3 December 2015.

SPML Infra is an infrastructure development company.

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Nalco tumbles as Govt to offload stake via OFS
Apr 19,2017

Meanwhile, the S&P BSE Sensex was down 15.64 points or 0.05% at 29,303.46.

On the BSE, 4.07 lakh shares were traded on the counter so far as against the average daily volumes of 3.81 lakh shares in the past one quarter. The stock had hit a high of Rs 69.30 and a low of Rs 68.30 so far during the day.

The stock had hit a 52-week high of Rs 79.85 on 7 March 2017 and a 52-week low of Rs 40.25 on 20 May 2016. It had outperformed the market over the past one month till 18 April 2017, sliding 0.41% compared with the Sensexs 1.11% fall. The scrip had, however, underperformed the market over the past one quarter, advancing 1.38% as against the Sensexs 7.56% rise.

The large-cap company has equity capital of Rs 966.46 crore. Face value per share is Rs 5.

National Aluminium Companys (Nalco) promoter, the Government of India (GoI) is selling up to 9.66 crore equity shares of the company, representing 5% stake with an additional option to sell up to 5% stake in the company in two trading sessions via offer for sale (OFS). The OFS for non-retail investors started today, 19 April 2017 and for retail investors and non-retail investors who choose to carry forward their un-allotted bids, the OFS takes place tomorrow, 20 April 2017. The two-day OFS takes place through a separate, designated window on the stock exchanges.

The GoI held 74.58% stake in Nalco as per the shareholding pattern as on 31 March 2017.

The floor price for the OFS was fixed at Rs 67 per share. Retail investors will be allocated offer shares at a discount of 5% to the cut off price. The floor price is at a discount of 8.78% compared to the stocks closing price of Rs 73.45 yesterday, 18 April 2017.

Nalcos net profit declined 2.7% to Rs 143.92 crore on 13.9% growth in net sales to Rs 1963.81 crore in Q3 December 2016 over Q3 December 2015.

State-run Nalco has integrated and diversified operations in mining, metal and power.

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