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ITC gains as foreign brokerage maintains outperform rating
Aug 25,2016

Meanwhile, the BSE Sensex was down 176.27 points, or 0.63%, to 27,883.67

On BSE, so far 5.99 lakh shares were traded in the counter, compared with an average volume of 8.71 lakh shares in the past one quarter. The stock hit a high of Rs 254.95 and a low of Rs 250.50 so far during the day. The stock hit a 52-week high of Rs 262 on 2 August 2016. The stock hit a 52-week low of Rs 178.67 on 29 February 2016. The stock had underperformed the market over the past 30 days till 24 August 2016, slipped 0.54% compared with Sensexs 0.3% rise. The scrip had also performed the market in past one quarter, gaining 3.59% as against Sensexs 6.42% rise.

The large-cap company has an equity capital of Rs 1209.96 crore. Face value per share is Re 1.

The foreign brokerage has reportedly stated in a research note that lower price hike will support ITCs cigarette volume growth. The companys earnings are likely to grow at a compound annual growth rate (CAGR) of 14% over FY 2016 to FY 2019, the brokerage reportedly said.

Meanwhile, ITC during market hours today, 25 August 2016, issued a clarification regarding news reports that it has moved court against Britannia Industries (Britannia) for copying biscuit packaging. ITC said that it has filed a suit against Britannia before the Delhi High Court as Britannia has copied the trade dress and colour combination of ITCs Sunfeast Farmlite Digestive ALL Good biscuit packages for its Britannia Nutrichoice Digestive Zero biscuit packages. The case was filed by the company on 20 August 2016 and will be coming up for hearing on 31 August 2016, ITC said.

Shares of Britannia Industries rose 0.98% at Rs 3,470. The company in its clarification issued after market hours yesterday, 24 August 2016, said that ITC has filed a suit against the company at Delhi High Court alleging that Britannia is copying the color combination of ITCs Sunfeast Farmlite Digestive All Good Biscuit Packs for its Nutrichoice Digestive Zero biscuit packs. The matter came up for hearing before Delhi High Court on 22 August 2016 and 24 August 2016. The next date of hearing is 31 August 2016. No injunction (stay) has been granted as of now. As the matter is sub-judice, the company cannot comment further on this matter, Britannia Industries said.

ITCs after net profit rose 10.09% to Rs 2384.67 crore on 10.07% increase in total income to Rs 10474.56 crore in Q1 June 2016 over Q1 June 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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Oil E&P stocks decline after fall in crude oil prices
Aug 25,2016

Meanwhile, the S&P BSE Sensex was down 231.08 points or 0.82% at 27,828.86.

Cairn India (down 2.21%), Oil India (down 0.87%), Reliance Industries (RIL) (down 0.71%) and ONGC (down 1%) declined. Lower crude oil prices would result in decrease in realizations from crude sales for oil exploration firms.

In global commodities markets, Brent crude oil futures for October settlement was up 21 cents at $49.26 a barrel. The contract had dropped 91 cents or 1.82% to settle at $49.05 a barrel during previous trading session.

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Natco Pharma gains after marketing partner wins patent case
Aug 25,2016

The announcement was made during market hours today, 5 August 2016.

Meanwhile, the BSE Sensex was down 147.68 points, or 0.5%, to 27,920.22.

High volumes were witnessed on the counter. On BSE, so far 1.91 lakh shares were traded in the counter, compared with average daily volume of 70,932 shares in the past one quarter. The stock hit high of Rs 703.95, which is a record high for the stock. The stock hit a low of Rs 661.40 so far during the day. The stock hit a 52-week low of Rs 390 on 29 March 2016. The stock had outperformed the market over the past one month till 24 August 2016, gaining 9.93% compared with 0.92% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 46.46% as against Sensexs 10.88% rise.

The large-cap company has equity capital of Rs 34.83 crore. Face value per share is Rs 2.

Natco Pharma announced that the US Patent and Trademark Office (PTO) has ruled in favour of its marketing partner, Mylan NV, in its inter partes review (IPR) proceeding against Teva Pharmaceutical Industries and found all claims of two related Copaxone 40 mg/mL patents to be unpatentable. The two US patents were owned by Yeda Research & Development Co., Ltd. and licensed to Teva Pharmaceutical Industries Ltd. A decision by the PTAB on Mylans third petition seeking inter partes review of another patent is expected on or before 1 September 2016.

On 15 August 2016, the PTOs Patent Trial and Appeal Board (PTAB) found Mylans application against a fourth Copaxone 40 mg/mL patent, ineligible for post-grant review for procedural reasons. However, Mylan believes that todays favourable ruling in the IPR against these two patents strongly undermines that patent as well. As such, Mylan will proceed with pursuing all avenues to challenge that patent.

Natcos marketing partner, Mylan has filed a substantially complete abbreviated new drug application containing a Paragraph IV certification for a three times per week Glatiramer Acetate Injection 40 mg/mL, and expects to be eligible for 180 days of marketing exclusivity in the US upon final FDA approval. Copaxone 40 mg/mL had US sales of approximately $3.3 billion for the 12 months ending 30 June 2016, according to IMS Health.

Separately, Natco Pharma announced during market hours today, 5 August 2016, receipt of successful Establishment Inspection Report (EIR) from the US Food and Drug Administration (FDA) for the inspection conducted, during the period 8 February to 12 February 2016, at its chemical division in Chennai.

Natco Pharmas consolidated net profit rose 69.8% to Rs 47.65 crore on 38% rise in net sales to Rs 297.71 crore in Q1 June 2016 over Q1 June 2015.

Natco Pharma manufactures generic dosage forms, bulk actives and intermediates for the Indian and international markets.

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Monsanto drops on reports of parent firm shelving plan to launch GM cotton
Aug 25,2016

Meanwhile, the S&P BSE Sensex was down 154.71 points, or 0.51%, to 27,916.38

On BSE, so far 6,925 shares were traded in the counter, compared with an average daily volume of 17,909 shares in the past one quarter. The stock hit a high of Rs 2,454.90 and a low of Rs 2,372.05 so far during the day. The stock had hit 52-week high of Rs 2,772 on 25 August 2015. The stock hit 52-week low of Rs 1,520 on 11 April 2016. The stock had outperformed the market over the past 30 days till 24 August 2016, rising 1.55% compared with Sensexs 0.3% rise. The scrip also outperformed the market in past one quarter, gaining 11.37% as against Sensexs 6.42% rise.

The mid-cap company has equity capital of Rs 17.26 crore. Face value per share is Rs 10.

As per reports, Monsanto Indias parent firm Monsanto Company, USA strongly objected to a government proposal that would force the company to share its technology with local seed companies. The company is also at loggerheads with government over how much it can charge for its genetically modified cotton seeds, costing it tens of millions of dollars in lost revenue every year, reports indicated.

Monsanto Indias net profit fell 9.86% to Rs 56.60 crore on 9.14% decline in net sales to Rs 236.08 crore in Q1 June 2016 over Q1 June 2015.

Monsanto India, a subsidiary of the Monsanto Company, USA is a seed company focusing on maize and agricultural productivity. Monsanto Company, USA, currently holds 72.14% stake in Monsanto India (as per the shareholding pattern as on 30 June 2016).

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IL&FS Transportation gains after selling entire stake in Andhra Pradesh Expressway
Aug 25,2016

The announcement was made during market hours today, 25 August 2016.

Meanwhile, the BSE Sensex was down 49.53 points, or 0.1%, to 28,010.41.

More than usual volumes were witnessed on the counter. On BSE, so far 1.96 lakh shares were traded in the counter, compared with an average volume of 1 lakh shares in the past one quarter. The stock hit a high of Rs 73.60 and a low of Rs 70.45 so far during the day. The stock hit a 52-week high of Rs 101.64 on 5 October 2015. The stock hit a record low of Rs 64 on 26 February 2016. The stock had underperformed the market over the past one month till 24 August 2016, falling 12.16% compared with 0.92% rise in the Sensex. The scrip had also underperformed the market in past one quarter, gaining 2.64% as against Sensexs 10.88% rise.

The mid-cap company has equity capital of Rs 328.96 crore. Face value per share is Rs 10.

IL&FS Transportation Networks announced that it has entered into share purchase agreement on 24 August 2016 with Cube Highways & Infrastructure Pte. Ltd., a company incorporated in Singapore for sale of its entire equity stake in Andhra Pradesh Expressway Limited (APEL) for an aggregate value of Rs 140.37 crore.

The completion of transaction and receipt of consideration is contingent upon fulfillment of certain conditions, approval from all concerned authorities and creditors of APEL. The transaction does not fall under the related party transactions nor is APEL a material subsidiary of the company.

Meanwhile, shares of IL&FS Transportation also perked up after the Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi after market hours yesterday, 24 August 2016, approved development of 1,120 kilometers of National Highways in Karnataka, Odisha, Bihar, Rajasthan and West Bengal.

On a consolidated basis, IL&FS Transportation Networks net profit rose 3.3% to Rs 80.42 crore on 78.2% rise in net sales to Rs 2547.98 crore in Q4 March 2016 over Q4 March 2015.

IL&FS Transportation Networks has grown into the largest BOT (build, operate and transfer) road assets owner in India.

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S P Apparels scales record high after blockbuster Q1 result
Aug 25,2016

The result was announced after market hours yesterday, 24 August 2016.

Meanwhile, the S&P BSE Sensex was down 47.15 points or 0.17% at 28,012.79

On BSE, so far 8,990 shares were traded in the counter. The stock opened with an upward gap, surging by the maximum 5% daily circuit and remained locked at the 5% level at Rs 323.10 so far in the day, also its record high. The stock had hit a record low of Rs 276 on 17 August 2016.

The small-cap company has equity capital of Rs 25.17 crore. Face value per share is Rs 10.

S P Apparels consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) rose 64.5% to Rs 34.21 crore in Q1 June 2016 over Q1 June 2015.

Shares of S P Apparels had debuted at Rs 305 on BSE, a premium of 13.81% over the initial public offer (IPO) price of Rs 268 on 12 August 2016. The stock settled with a premium of 10.07% at Rs 295 on that day.

S P Apparels is a leading manufacturer and exporter of knitted garments for infants and children.

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Volumes jump at Sanofi India counter
Aug 25,2016

Sanofi India clocked volume of 41,000 shares by 13:30 IST on BSE, a 305.08-times surge over two-week average daily volume of 135 shares. The stock rose 0.32% at Rs 4,325.05.

Welspun India notched up volume of 1.78 crore shares, a 171.1-fold surge over two-week average daily volume of 1.05 lakh shares. The stock slumped 7.93% at Rs 54.60.

PNC Infratech saw volume of 12.9 lakh shares, a 137.78-fold surge over two-week average daily volume of 9,000 shares. The stock gained 1.03% at Rs 122.30 after consolidated net profit jumped 145% to Rs 54.2 crore on 6.23% decline in total income from operations to Rs 635.5 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 24 August 2016.

Cera Sanitaryware clocked volume of 32,000 shares, a 107.84-fold surge over two-week average daily volume of 293 shares. The stock declined 0.92% at Rs 2,372.

Cox & Kings saw volume of 13.06 lakh shares, a 24.8-fold rise over two-week average daily volume of 53,000 shares. The stock shed 0.3% at Rs 182.75.

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Bajaj Electricals gains after bulk deal
Aug 25,2016

Meanwhile, the S&P BSE Sensex was up 20.61 points or 0.07% at 28,080.55

Bulk deal boosted volume on the scrip. On BSE, so far 2.50 lakh shares were traded in the counter as against average daily volume of 52,618 shares in the past one quarter. The stock hit a high of Rs 262.95 and a low of Rs 251 so far during the day. The stock had hit a 52-week high of Rs 280 on 10 August 2016. The stock had hit a 52-week low of Rs 155.35 on 29 February 2016. The stock had outperformed the market over the past 30 days till 24 August 2016, rising 5.87% compared with Sensexs 0.3% rise. The scrip, however, underperformed the market in past one quarter, gaining 2.01% as against Sensexs 6.42% rise.

The small-cap company has equity capital of Rs 20.22 crore. Face value per share is Rs 2.

Bajaj Electricals net profit rose 11.94% to Rs 22.87 crore on 4.63% fall in total income to Rs 961.56 crore in Q1 June 2016 over Q1 June 2015.

Bajaj Electricals is an electric products maker and is a part of Bajaj Group.

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AstraZeneca Pharma drops after receiving distribution termination notice for product
Aug 25,2016

The announcement was made after market hours yesterday, 24 August 2016. Shares of Pfizer, Indian arm of Pfizer Inc. rose 1.07% to Rs 1,960.

Meanwhile, the S&P BSE Sensex was up 50.32 points or 0.18% at 28,110.26.

Higher than usual volumes were witnessed on the counter of AstraZeneca Pharma India. On BSE, so far 9,144 shares were traded in the counter as against average daily volume of 2,152 shares in the past one quarter. The stock hit a high of Rs 1,120 and a low of Rs 1,050 so far during the day. The stock had hit a 52-week high of Rs 1,348 on 12 January 2016. The stock had hit a 52-week low of Rs 995.40 on 9 August 2016. The stock had outperformed the market over the past one month till 24 August 2016, rising 9.21% compared with 0.92% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, gaining 4.29% as against Sensexs 10.88% rise.

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

AstraZeneca Pharma India announced that AstraZeneca UK terminated distribution arrangements with the company for Meronem (meropenem) in India. The termination was a result of global agreement by a parent firm, AstraZeneca PLC to sell the development and commercialisation rights to Pfizer Inc, of its late stage small molecule antibiotics business. Meronem is a carbapenem anti-bacterial used for the treatment of serious infections in hospitalised patients. Meronem is currently AstraZeneca Pharma Indias principal product, which generated 18% of the total turnover of the company in the year ended 31 March 2016 (FY 2016). The current distribution arrangements for Meronem in India will terminate in six months from 24 August 2016.

AstraZeneca PLC, parent company of AstraZeneca Pharma India announced yesterday, 24 August 2016 that it has entered into an agreement with Pfizer Inc. to sell the commercialisation and development rights to its late-stage small molecule antibiotics business in most markets globally outside the US. The agreement reinforces AstraZenecas focus on developing transformational medicines in its three main therapy areas cardiovascular & metabolic diseases, respiratory and oncology, while realising value from the strong portfolio of established and late-stage small molecule antibiotics through Pfizers dedicated commercialisation and development capabilities in anti-infectives.

AstraZeneca Pharma Indias net profit rose 288.6% to Rs 10.57 crore on 15% rise in net sales to Rs 138.09 crore in Q1 June 2016 over Q1 June 2015.

AstraZeneca Pharma India is present in seven crucial areas of healthcare-cardiovascular, diabetes, oncology, respiratory & inflammation, infection, local anesthesia and maternal healthcare. AstraZeneca Pharmaceuticals AB holds 75% stake in AstraZeneca Pharma India (as per the shareholding pattern as on 30 June 2016).

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Engineers India extends gains after declaring strong Q1 results
Aug 25,2016

Meanwhile, the S&P BSE Sensex was up 65.58 points or 0.24% at 28,127.43

On BSE, so far 7.64 lakh shares were traded in the counter as against average daily volume of 1.23 lakhs shares in the past one quarter. The stock hit a high of Rs 266.50 in intraday trade so far, which is 52-week high for the counter. The stock hit a low of Rs 252.10 so far during the day. The stock had hit a 52-week low of Rs 143.25 on 17 February 2016. The stock had outperformed the market over the past 30 days till 24 August 2016, rising 12.1% compared with Sensexs 0.3% rise. The scrip had also outperformed the market in past one quarter, gaining 37.72% as against Sensexs 6.42% rise.

The mid-cap company has equity capital of Rs 168.47 crore. Face value per share is Rs 5.

Engineers Indias net profit rose 50.07% to Rs 80.30 crore on 11.74% drop in total income to Rs 396.40 crore in Q1 June 2016 over Q1 June 2015. The stock rose 8.33% to settle at Rs 251 yesterday, 24 August 2016. The result was announced after market hours on 23 August 2016.

State-run Engineers India provides engineering consultancy and EPC services, mainly to the oil and gas and petrochemical industries. The company has also diversified into sectors like infrastructure, water and waste management, solar and nuclear power and fertilizers to leverage its strong technical competencies and track record. The government of India holds 59.37% in Engineers India (as per shareholding pattern as on 30 June 2016).

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Jubilant Life Sciences scales record high
Aug 25,2016

The announcement was made before market hours today, 25 August 2016.

Meanwhile, the BSE Sensex was up 65.16 points, or 0.23%, to 28,123.95.

On BSE, so far 2.38 lakh shares were traded in the counter, compared with average daily volume of 1.63 lakh shares in the past one quarter. The stock hit a high of Rs 533.70, so far during the day, which is a record high for the stock. The stock hit a low of Rs 510.10 so far during the day. The stock hit a 52-week low of Rs 261 on 8 September 2015. The stock had outperformed the market over the past one month till 24 August 2016, surging 56.09% compared with 0.92% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 42.77% as against Sensexs 10.88% rise.

The mid-cap company has equity capital of Rs 15.93 crore. Face value per share is Re 1.

Jubilant Life Sciences announced that it has received final approval for abbreviated new drug application (ANDA) for Felodipine Extended-Release Tablets USP, 2.5 mg, 5 mg, and 10 mg from United States Food & Drug Administration (USFDA). Felodipine Extended-Release Tablets are the generic version of Plendil Tablets of AstraZeneca, which is used for the treatment of hypertension.

As on 30 June 2016, Jubilant Life Sciences had a total of 770 filings for oral solids of which 578 have been approved in various regions globally. This includes 70 ANDAs filed in the US, of which 44 have been approved and 104 filings in Europe.

Jubilant Life Sciences consolidated net profit rose 22.5% to Rs 161.60 crore on 1.7% decline in net sales to Rs 1400.97 crore in Q1 June 2016 over Q1 June 2015.

Jubilant Life Sciences is an integrated global pharmaceutical and life sciences company engaged in manufacture and supply of active pharmaceutical ingredients (APIs), solid dosage formulations, radiopharmaceuticals, allergy therapy products and life science ingredients. It also provides services in contract manufacturing of sterile injectables and drug discovery solutions. The companys strength lies in its unique offerings of pharmaceuticals and life sciences products and services across the value chain.

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Ramco Systems spurts after overseas order win
Aug 25,2016

The announcement was made after trading hours yesterday, 24 August 2016.

Meanwhile, the S&P BSE Sensex was up 74.95 points, or 0.27%, to 28,134.89

On BSE, so far 25,000 shares were traded in the counter, compared with average daily volume of 2,293 shares in the past one quarter. The stock hit a high of Rs 563.40 and a low of Rs 520 so far during the day. The stock hit a 52-week high of Rs 900 on 9 November 2015. The stock hit a 52-week low of Rs 494 on 22 August 2016. The stock had underperformed the market over the past 30 days till 24 August 2016, falling 19.64% compared with Sensexs 0.3% rise. The scrip had also underperformed the market in past one quarter, sliding 27.67% as against Sensexs 6.42% rise.

The small-cap company has an equity capital of Rs 30.08 crore. Face value per share is Rs 10.

Ramco Systems said that the companys subsidiary, Ramco Systems Pte., Singapore, has secured an order from one of the top 5 most valuable global brands for Ramco HCM & Payroll in Asia-Pacific region (APAC).

Ramco Systems consolidated net profit dropped 91.35% to Rs 0.90 crore on 11.35% fall in total income to Rs 110.52 crore in Q1 June 2016 over Q4 March 2016.

Ramco Systems is a software products and services provider incorporated in India. Ramco Systems is a provider of enterprise resource planning, human capital management and aviation maintenance & engineering (M&E) & maintenance repair & overhaul (MRO) software.

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Construction stocks gain after CCEA approves national highways improvement project
Aug 25,2016

The announcement was made after market hours yesterday, 24 August 2016.

Meanwhile, the S&P BSE Sensex was up 62.91 points or 0.22% at 28,122.85.

Hindustan Construction Company (up 5.79%), J. Kumar Infraprojects (up 5%), Lanco Infratech (up 2.52%), IVRCL (up 2.94%), IL&FS Transportation Networks (up 2.57%), L&T (up 0.41%), Valecha Engineering (up 1.16%), Patel Engineering (up 1.65%), NCC (up 0.06%) and Unity Infraprojects (up 1.06%) gained. IRB Infrastructure Developers fell 0.59%.

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, approved development of 1,120 kilometers of National Highways in Karnataka, Odisha, Bihar, Rajasthan and West Bengal.

The work for development to two lane standards are under phase-I of the National Highways Interconnectivity Improvement Project (NHIIP) with World Bank assistance. The revised estimated cost of the project is Rs 6461 crore including cost of land acquisition, resettlement and rehabilitation and other pre-construction activities. The projects are already taken up for implementation and 429 kilometers has been completed. The civil works are expected to be completed by July 2019 and maintenance works are expected to be completed by July 2024.

The project will ensure safe, fast and all weather movement of traffic on the proposed National Highways mostly located in backward regions thereby improving socio economic development.

The proposal was initially approved for Rs 5193 crore. The cost has increased due to higher bid prices, and increase in cost of land acquisition, resettlement and rehabilitation and other pre-construction activities.

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Man Infra gains after strong Q1 result
Aug 25,2016

The result was announced after market hours yesterday, 24 August 2016.

Meanwhile, the S&P BSE Sensex was up 75.49 points or 0.27% at 28,135.43

On BSE, so far 7.04 lakh shares were traded in the counter as against average daily volume of 3.50 lakh shares in the past one quarter. The stock hit a high of Rs 52.80 in intraday trade so far, which is 52-week high for the counter. The stock hit a low of Rs 51.40 so far during the day. The stock had hit a 52-week low of Rs 28.85 on 12 February 2016. The stock had outperformed the market over the past 30 days till 24 August 2016, advancing 18.4% compared with Sensexs 0.3% rise. The scrip had also outperformed the market in past one quarter, surging 43.48% as against Sensexs 6.42% rise.

The small-cap company has equity capital of Rs 49.50 crore. Face value per share is Rs 2.

Man Infraconstruction is a construction company engaged in providing construction services for port infrastructure, residential, industrial, commercial and road infrastructure projects.

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Rail stocks gain after CCEA approves nine rail network expansion projects
Aug 25,2016

The announcement was made by Ministry of Railways after market hours yesterday, 24 August 2016.

Meanwhile, the BSE Sensex was up 74.09 points, or 0.26%, to 28,136.58.

Hind Rectifiers (up 4.09%), NELCO (up 0.06%), Kalindee Rail Nirman (up 3.23%), Titagarh Wagons (up 5.64%), Stone India (up 4.2%), Kernex Microsystems (up 3.29%), BEML (up 0.39%), Texmaco Rail & Engineering (up 3.29%), and Zicom Electronic Security Systems (up 0.24%) gained.

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi in a major push to give a boost to the infrastructure sector in the country, approved nine projects worth Rs 24374.86 crore in nine states for expansion of railway network and connectivity across the country.

The nine projects include construction of second railway line between New Bongaigaon and Kamakhya in Assam; construction of third line between Kharagpur (Nimpura) and Adityapur in Jharkhand; construction of third line between Rajnandgaon-Nagpur (Kalumna) in Rajnandgaon district of Chhattisgarh and Gondia, Bhandara and Nagpur districts in Maharashtra; construction of third line between Mathura and Jhansi in Uttar Pradesh and construction of third line between Jhansi and Bina in Madhya Pradesh; construction of third line between Itarsi and Nagpur in Madhya Pradesh and Maharashtra; construction of third line between Ballarshah and Kazipet in Telangana and Maharashtra; construction of third line between Vijaywada and Gudur in Andhra Pradesh; and construction of fourth line between Jharsuguda and Bilaspur in Odisha and Chhattisgarh.

Besides facilitating the travel by easing the traffic bottlenecks, the approved lines would help the upcoming industries in the region and additional transport capacity to meet their requirements. The goods trains supplying foodgrains from one region to another, various industries, mines, coal fields and power plants will have additional transport capacity through these lines resulting in more revenues to Indian Railways, the statement from Ministry of Railways added.

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