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Rajath Finance reports standalone net loss of Rs 0.05 crore in the June 2016 quarter
Sep 09,2016

Net Loss of Rajath Finance reported to Rs 0.05 crore in the quarter ended June 2016 as against net loss of Rs 0.03 crore during the previous quarter ended June 2015. There were no Sales reported in the quarter ended June 2016 as against Rs 0.02 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales00.02 -100 OPM %0-150.00 - PBDT-0.05-0.03 -67 PBT-0.05-0.03 -67 NP-0.05-0.03 -67

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Buying vigour of FPIs ebbs
Sep 09,2016

Foreign portfolio investors (FPIs) bought stocks worth a net Rs 117.60 crore from the secondary equity markets on 8 September 2016, which was sharply lower than their purchases of Rs 864.12 crore during the preceding trading session on 7 September 2016. The net inflow of Rs 117.60 crore on 8 September 2016 was a result of gross purchases of Rs 4672.42 crore and gross sales of Rs 4554.82 crore. On that day, the S&P BSE Sensex, rose 118.92 points or 0.41% to settle at 29,045.28, its highest closing level since 13 April 2015.

There was net inflow of Rs 15.93 crore from FPIs into the category primary market & others on 8 September 2016, which was a result of gross purchases of Rs 17.27 crore and gross sales of Rs 1.34 crore.

FPIs have bought stocks worth a net Rs 3128.88 crore from the secondary equity markets in this month so far (till 8 September 2016). FPIs bought shares worth a net Rs 8906.89 crore from the secondary equity markets last month. FPIs have purchased shares worth a net Rs 42340.90 crore from the secondary equity markets in calendar year 2016 so far (till 8 September 2016). FPIs sold shares worth a net Rs 4362.50 crore into the secondary equity markets in calendar year 2015.

There has been a net inflow of Rs 49.01 crore from FPIs into the category primary markets & others in this month so far (till 8 September 2016). There was a net inflow of Rs 164.43 crore from FPIs into the category primary markets & others last month. The net inflow from FPIs into category primary markets & others has totaled Rs 1687.10 crore in calendar year 2016 so far (till 8 September 2016). There was net inflow of Rs 22168.40 crore from FPIs into the category primary markets & others in calendar year 2015.

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Kharif Crop Sowing Crosses 1054 Lakh Hectare Areas
Sep 09,2016

The total sown area as on 09th September, 2016 as per reports received from States, stands at1054.49lakh hectare as compared to 1012.35 lakh hectare at this time last year. 

It is reported that rice has been sown/transplanted in 380.28lakh ha, pulses in 143.95   lakh ha, coarse cereals in187.86 lakh ha, oilseeds in 186.95 lakh ha, sugarcane in 45.77lakh hectare and cotton in 102.13 lakh ha.

The details of the area covered so far and that covered during this time last year are given below:

Lakh hectare

CropArea sown in 2016-17Area sown in 2015-16Rice380.28370.04Pulses143.95111.48Coarse Cereals187.86177.05Oilseeds186.95181.70Sugarcane45.7749.60Jute & Mesta7.567.73Cotton102.13114.75Total1054.491012.35

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RBI requested to issue instructions to banks to allow payment of tax under the Scheme in cash and to allow deposit of cash over the counter
Sep 09,2016

The Income Declaration Scheme, 2016 provides an opportunity to persons who have not paid full taxes in the past to come forward and declare their undisclosed income and assets. The Scheme has come into effect from 1 June 2016 and is open for declarations upto 30 September 2016.

In respect of the issue of deposit of cash declared under the Scheme, the Central Board of Direct Taxes (CBDT) vide Circular No.29 of 2016 dated 18 August 2016 clarified that Reserve Bank of India (RBI) has been requested to issue instructions to banks to allow payment of tax under the Scheme in cash and to allow deposit of cash over the counter.

The RBI has vide its circular dated 08.09.2016 instructed the banks to invariably accept cash deposits from all the declarants under the Scheme and to accept cash deposits, irrespective of amount, over the counters, for making payment under the Scheme through challan ITNS-286.

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Larsen & Toubro completes divestment of entire stake in L&T General Insurance Company
Sep 09,2016

Larsen & Toubro has completed the divestment of its entire stake in L&T General Insurance Company, wholly- owned subsidiary, to HDFC ERGO General Insurance Company in accordance with the share sale and purchase agreement dated 03 June 2016.

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Atishay fixes record date for bonus issue
Sep 09,2016

Atishay has fixed 15 September 2016 as the Record Date for the purpose of issue of Bonus shares in the proportion of 1 (one) equity share for every 4 (four) existing equity share held by the members.

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Riddhi Siddhi Gluco Biols standalone net profit rises 235.22% in the June 2016 quarter
Sep 09,2016

Net profit of Riddhi Siddhi Gluco Biols rose 235.22% to Rs 13.04 crore in the quarter ended June 2016 as against Rs 3.89 crore during the previous quarter ended June 2015. Sales rose 86.67% to Rs 4.20 crore in the quarter ended June 2016 as against Rs 2.25 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales4.202.25 87 OPM %-57.38-84.44 - PBDT16.2110.28 58 PBT13.206.90 91 NP13.043.89 235

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Timken India standalone net profit rises 20.23% in the June 2016 quarter
Sep 09,2016

Net profit of Timken India rose 20.23% to Rs 28.35 crore in the quarter ended June 2016 as against Rs 23.58 crore during the previous quarter ended June 2015. Sales rose 7.96% to Rs 278.87 crore in the quarter ended June 2016 as against Rs 258.32 crore during the previous quarter ended June 2015.

ParticularsQuarter Endedn++Jun. 2016Jun. 2015% Var. Sales278.87258.32 8 OPM %17.5917.49 - PBDT50.5046.60 8 PBT43.5141.87 4 NP28.3523.58 20

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Water Level of 91 major reservoirs of the country goes up by two per cent
Sep 09,2016

The water storage available in 91 major reservoirs of the country for the week ending on September, 08 2016 was 108.104 BCM, which is 69% of total storage capacity of these reservoirs. This was 117% of the storage of corresponding period of last year and 97% of storage of average of last ten years.

The total storage capacity of these 91 reservoirs is 157.799 BCM which is about 62% of the total storage capacity of 253.388 BCM which is estimated to have been created in the country. 37 Reservoirs out of these 91 have hydropower benefit with installed capacity of more than 60 MW.

REGION WISE STORAGE STATUS:-

NORTHERN REGION

The northern region includes States of Himachal Pradesh, Punjab and Rajasthan. There are 6 reservoirs under CWC monitoring having total live storage capacity of 18.01 BCM. The total live storage available in these reservoirs is 14.24 BCM which is 79% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 90% and average storage of last ten years during corresponding period was 81% of live storage capacity of these reservoirs. Thus, storage during current year is less than the corresponding period of last year and is also less than the average storage of last ten years during the corresponding period.

EASTERN REGION

The Eastern region includes States of Jharkhand, Odisha, West Bengal and Tripura. There are 15 reservoirs under CWC monitoring having total live storage capacity of 18.83 BCM. The total live storage available in these reservoirs is 14.27 BCM which is 76% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 58% and average storage of last ten years during corresponding period was 69% of live storage capacity of these reservoirs. Thus, storage during current year is better than the corresponding period of last year and is also better than the average storage of last ten years during the corresponding period.

WESTERN REGION

The Western region includes States of Gujarat and Maharashtra. There are 27 reservoirs under CWC monitoring having total live storage capacity of 27.07 BCM. The total live storage available in these reservoirs is 20.38 BCM which is 75% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 59% and average storage of last ten years during corresponding period was 73% of live storage capacity of these reservoirs. Thus, storage during current year is better than the storage of last year and is also better than the average storage of last ten years during the corresponding period.

CENTRAL REGION

The Central region includes States of Uttar Pradesh, Uttarakhand, Madhya Pradesh and Chhattisgarh. There are 12 reservoirs under CWC monitoring having total live storage capacity of 42.30 BCM. The total live storage available in these reservoirs is 36.70 BCM which is 87% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 77% and average storage of last ten years during corresponding period was 65% of live storage capacity of these reservoirs. Thus, storage during current year is better than the storage of last year and is also better than the average storage of last ten years during the corresponding period.

SOUTHERN REGION

The Southern region includes States of Andhra Pradesh, Telangana, AP&TG(2combined projects in both states) Karnataka, Kerala and Tamil Nadu. There are 31 reservoirs under CWC monitoring having total live storage capacity of 51.59 BCM. The total live storage available in these reservoirs is 22.52 BCM which is 44% of total live storage capacity of these reservoirs. The storage during corresponding period of last year was 32% and average storage of last ten years during corresponding period was 72% of live storage capacity of these reservoirs. Thus, storage during current year is better than the corresponding period of last year but is less than the average storage of last ten years during the corresponding period.

State having equal storage than last year for corresponding period is Gujarat. States having lesser storage than last year for corresponding period are Himachal Pradesh, Tripura, Uttarakhand and Tamil Nadu.

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Asia Pacific Market: Stocks fall amid concerns about end of easy money
Sep 09,2016

Asia Pacific share market ended mostly down on Friday, 09 September 2016, as risk sentiments dampened on tracking the negative lead from Wall Street overnight, confirmation of North Korea fifth nuclear test, and on disappointment over the European Central Banks interest rate decision.

On Wall Street, stocks closed modestly lower on Thursday following the European Central Banks decision to leave interest rates unchanged. The ECB reiterated that its monthly asset purchases of 80 billion euro are intended to run until the end of March 2017, or beyond, if necessary. The Dow dipped 46.23 points or 0.3% to 18,479.91, the Nasdaq fell 24.44 points or 0.5% to 5,259.48 and the S&P 500 edge down 4.86 points or 0.2% to 2,181.30. The major European markets finished mixed on Thursday. While the U.K.s FTSE 100 Index edged up by 0.2%, the French CAC 40 Index dipped by 0.3% and the German DAX Index dropped by 0.7%.

The North Korean test put a worrisome spin on Asian markets with traders already fretting about the European Central Banks decision Thursday not to expand its stimulus program, defying expectations. North Korea conducted a fifth nuclear test hours after President Barack Obama wrapped up a tour of Asia, highlighting the U.S.s struggle to rein in the rising threat from dictator Kim Jong Un. Pyongyang declared a successful test hours after the U.S. Geological Survey detected a magnitude 5.3 earthquake near North Koreas nuclear test site in the countrys northeast early on Friday, a reading that surpassed the magnitudes of tremors set off by the countrys previous nuclear tests. North Korea confirmed in a statement released through its state media that it conducted a test explosion of a nuclear warhead. It said the test was successful and confirmed its ability to produce nuclear-tipped missiles n++at will.n++ It added that it would continue to build up its nuclear force in quality and quantity.

Risk sentiments also subdued amid heightened concerns that the Federal Reserve would raise interest rates sooner than later, which can boost the U.S. dollar and make debt denominated in the currency more expensive to emerging markets.

Among Asian bourses

ASX200 drops 0.87%

Australian share market closed down on tracking the negative lead from Wall Street overnight and on disappointment over the European Central Banks interest rate decision. All but two ASX sectors declined, with realty, healthcare, and financial issue leading falls. At close of trade, the benchmark S&P/ASX 200 index was down 46.60 points, or 0.87%, to 5,339.20, while the broader All Ordinaries index has lost 44.10 points, or 0.8%, to 5,440.50. Falling stocks outnumbered advancing ones on the Australia Stock Exchange by 620 to 457 and 319 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 12.58% to 15.191 a new 1-month high.

Banks and financials ended softer. The big four banks - Commonwealth Bank of Australia, Westpac, National Australia Bank and ANZ Bank - were lower in a range of 0.9% to 1.3%.

Shares of materials and energy companies advanced. In the mining space, BHP Billiton rose 0.9%, Rio Tinto 0.2% and Fortescue Metals 1%. Among oil stocks, Oil Search rose 2%, Woodside Petroleum 0.2% and Santos almost 2% following the increase in crude oil prices overnight.

Shares in Origin Energy leapt 5.5% after new chief executive Frank Calabria, who replaces Grant King, confirmed that he will continue the company focus on reducing debt and lifting shareholder returns.

Sigma Pharmaceuticals shares closed 9% higher, adding Thursdays 11% rise after the company lifted its earnings guidance and reported a solid half-yearly profit figure.

Defense and ship builder Austal bounced 5.4% following the successful delivery of its second high speed support vessel to the royal navy of Oman.

Japan Stocks closed mixed

The Japan share market ended mixed after a volatile ride, as concerns over a North Korean nuclear test countered hopes for additional easing measures from the bank this month. Notable issues that gained by the close of play comprised marine transportation and mining-related issues. But those that lost ground were led by food and fishery, and agriculture and forestry-linked stocks. The Nikkei average added 7 points, or 0.04%, to end at 16965.76. The Topic index eased 2.09 points, or 0.16%, to end at 1343.86. Falling stocks outnumbered advancing ones on the Tokyo Stock Exchange by 1099 to 800 and 157 ended unchanged. The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 6.10% to 20.46.

Energy shares climbed as crude headed for a weekly surge of more than 6% following an unexpected drop in U.S. stockpiles. Petrochemical-products maker Showa Denko KK was among the biggest gainers on the Nikkei 225 Stock Average, climbing 5%.

Bowling-alley operator Round One Corp. tumbled 6% after August same-store sales dropped 4.6% from a year earlier.

Kyocera Corp. added 1.9% after BNP Paribas SA raised its rating on the electronics equipment manufacturer to hold from reduce.

China Market falls after August inflation readings

Mainland China stock market closed lower after official released data confirming its producer prices continued to drop in August, signaling flagging demand in the worlds second-largest economy, albeit at a slower pace. The CSI300 index of the largest listed companies in Shanghai and Shenzhen eased 0.64%, to 3,318.04 points, while the Shanghai Composite Index lost 0.55% to 3,078.85 points. For the week, the CSI300 index gained 0.1 percent while the SSEC edged up 0.4 percent.

Chinas producer price index (PPI), which measures costs for goods at the factory gate, posted a milder decline in August due to a low comparison base, official data showed. The PPI dropped 0.8 percent year on year in August, a narrower decrease than the 1.7 percent in July, the National Bureau of Statistics (NBS) said on Friday. The reading marked the 54th straight month of decline as Chinas economic slowdown and industrial overcapacity weighed on prices.

Also, growth in Chinas consumer price index weakened for the fourth consecutive month in August to indicate the lowest inflation rate in almost a year, which analysts said leaves room for China to loosen its monetary policy to stabilize economic growth. The CPI rose by 1.3 percent year-on-year, which is the lowest rise since October and down from 1.8 percent in July. The slackening growth can be attributed to falling food prices, the National Bureau of Statistics said in a statement on Friday.

Hong Kong Market rallies 0.75%

The Hong Kong stock market closed higher despite wider losses in the region, after a Chinese regulator said it would allow domestic insurers to invest in Hong Kong-listed stocks through a trading link with Shanghai. The China Insurance Regulatory Commissions announcement came less than a month after Beijing confirmed it would launch the Shenzhen-Hong Kong Stock Connect program within 2016. The benchmark Hang Seng Index advanced 180.36 points, or 0.75%, to 24099.70 points. The Hang Seng China Enterprises Index, a benchmark measure of performance of mainland China enterprises, rose 49.76 points, or 0.5%, to 10057.97. Turnover soared to HK$116.8 billion from HK$77.3billion on Thursday. The Hang Seng was up 0.8% for the week and has risen nearly 20.6% in the past six months.

The CIRCs message implies that hundreds of billion funds from mainland insurers may flow to HK. HKEx (00388) soared 5.5% to HK$209.6. It was the top blue-chip gainer.

Chinese brokerages were also chased by investors. CGS (06881) added 2.7% to HK$7.9. HTSC (06886) put on 2.1% to HK$17.7. CITIC Sec (06030) climbed 2.4% to HK$18.1. Local brokers were also higher. Bright Smart (01428) soared 11.5% to HK$3.19 as the company disclosed that it has been approached by potential investors in the company from time to time.

Apples iPhone 7 failed to trigger strong market response. Its supply chain OEMs retreated across the board. AAC Tech (02018) slid 4% to HK$86.6. It was the biggest blue-chip loser. Cowell (01415) plunged 5% to HK$2.95. Sunny Optical (02382) declined 4.9% to HK$38.6.

Sensex, Nifty hit lowest closing level in a week

Metal, auto sector stocks and index heavyweights ITC and HDFC led losses for key benchmark indices. The barometer index, the S&P BSE Sensex, lost 248.03 points or 0.85% to settle at 28,797.25. The Nifty fell 85.80 points or 0.96% to settle at 8,866.70.

Yes Bank dropped after the bank announced deferring its proposed qualified institutional placement (QIP) of shares.

Steel Authority of India edged lower after the company reported higher net loss in Q1 June 2016 compared to net loss in Q1 June 2015.

Jindal Steel & Power dropped after the company reported higher net loss in Q1 June 2016 compared to net loss in Q1 June 2015.

IDBI Bank rose 5.22% on reports that Asian Development Bank (ADB) has held talks with the government to acquire stake in the state-run bank.

Elsewhere in the Asia Pacific region: New Zealands NZX50 fell 0.9% to 7468.60. South Koreas KOSPI index fell 1.3% to 2037.87. Taiwans Taiex index slumped 2.3% to 9053.69. Singapores Straits Times index shed 0.7% to 2873.33. Indonesias Jakarta Composite index shed 1.7% to 5281.92. Malaysias KLCI eased 0.3% to 1686.44.

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Hong Kong Market rallies 0.75%
Sep 09,2016

The Hong Kong stock market closed higher on Friday, 09 September 2016, despite wider losses in the region, after a Chinese regulator said it would allow domestic insurers to invest in Hong Kong-listed stocks through a trading link with Shanghai. The China Insurance Regulatory Commissions announcement came less than a month after Beijing confirmed it would launch the Shenzhen-Hong Kong Stock Connect program within 2016. The benchmark Hang Seng Index advanced 180.36 points, or 0.75%, to 24099.70 points. The Hang Seng China Enterprises Index, a benchmark measure of performance of mainland China enterprises, rose 49.76 points, or 0.5%, to 10057.97. Turnover soared to HK$116.8 billion from HK$77.3billion on Thursday. The Hang Seng was up 0.8% for the week and has risen nearly 20.6% in the past six months.

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China Market falls after August inflation readings
Sep 09,2016

Mainland China stock market closed lower on Friday, 09 September 2016, after official released data confirming its producer prices continued to drop in August, signaling flagging demand in the worlds second-largest economy, albeit at a slower pace. The CSI300 index of the largest listed companies in Shanghai and Shenzhen eased 0.64%, to 3,318.04 points, while the Shanghai Composite Index lost 0.55% to 3,078.85 points. For the week, the CSI300 index gained 0.1% while the SSEC edged up 0.4%.

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ASX200 drops 0.87%
Sep 09,2016

Australian share market closed down on Friday, 09 September 2016, on tracking the negative lead from Wall Street overnight and on disappointment over the European Central Banks interest rate decision. All but two ASX sectors declined, with realty, healthcare, and financial issue leading falls. At close of trade, the benchmark S&P/ASX 200 index was down 46.60 points, or 0.87%, to 5,339.20, while the broader All Ordinaries index has lost 44.10 points, or 0.8%, to 5,440.50. Falling stocks outnumbered advancing ones on the Australia Stock Exchange by 620 to 457 and 319 ended unchanged. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 12.58% to 15.191 a new 1-month high.

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Ministry of Steel extends date of enforcement of Stainless Steel Products (Quality Control) Order, 2016 by three months
Sep 09,2016

Steel Minister Shri Birender Singh held wide-ranging consultations with various stakeholders before the decision and exhorted the stainless steel industry to be a partner in government drive to encourage use of quality steel.

Ministry of Steel has issued Stainless Steel Products (Quality Control) (Amendment) Order, 2016, dated 08.09.16, for extending the date of enforcement of the Principal Order dated 10thJune, 2016, from three months to 180 days. The Order aims at ensuring use of high quality standards in respect of 3 specified stainless steel product categories.

The Steel Minister Shri Birender Singh had met representatives of various stakeholders, who had differing views on the impact of implementation of Quality Control Order, issued in June 2016. Producers, traders, merchants and users attended this meeting organised in August 2016. In the no-holds-barred deliberations under the Chairmanship of the Minister, each side put forth their issues and concerns in detail. Shri Singh gave a patient hearing and facilitated free exchange of ideas. He advised that all sides must put their minds together and come up with a practical resolution in larger interest, within a given timeframe. He directed that an empowered functionary from each group should sit together with Ministry of Steel officials and resolve the deadlock. The ultimate objective must be to see that there is no compromise on quality of steel, he added. Subsequent rounds of discussions at various levels have resulted in the present amendment order. While complimenting all concerned for reaching a consensus, Shri Singh has urged the users and trader groups to come forward and join the central government in its drive to provide quality steel to Indian consumers. The Minister has exhorted them to apply to BIS for licenses and to also encourage their foreign suppliers to do the same, as quality of steel cannot be compromised.

The 3 stainless steel product categories covered under the Order are IS 5522 (stainless steel sheets and strips of utensils), IS 15997 (low nickel austenitic stainless steel sheet and strip for utensils and kitchen appliances-specification) and IS 6911 (stainless steel plate, sheet and strip-specification). The Order stipulates prohibition regarding manufacture, storage, sale, distribution etc. without Standard Mark of BIS and obligation of certification.

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IRB Infra corrects on profit booking
Sep 09,2016

Meanwhile, the BSE Sensex was down 248.03 points, or 0.85%, to 28,797.25.

On BSE, so far 4.25 lakh shares were traded in the counter, compared with average daily volume of 2.41 lakh shares in the past one quarter. The stock hit a high of Rs 254.55 and a low of Rs 244.40 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 30 days till 8 September 2016, rising 22.09% compared with 4.57% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 17.70% as against Sensexs 9.05% rise.

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

Shares of IRB Infrastructure Developers rose 11.33% in five trading sessions to settle at Rs 252.05 yesterday, 8 September 2016, from its close of Rs 226.40 on 31 August 2016.

The stock jumped 9.11% to Rs 252.05 yesterday, 8 September 2016, after an investment trust backed by the company filed a draft offer document with the market regulator for an initial public offer. The announcement was made during trading hours yesterday, 8 September 2016.

IRB Infrastructure Developers is the sponsor of the IRB InvIT Fund (the Trust), an infrastructure investment trust registered with the Securities and Exchange Board of India (Sebi).

IRB Infrastructure, a wholly-owned subsidiary of the company and the investment manager to the Trust, has filed a draft offer document dated 7 September 2016, in relation to an initial public offer (IPO) of units representing an undivided beneficial interest in IRB InvIT Fund, with Sebi.

The IPO consists of a fresh issue of units, aggregating up to Rs 4300 crore, by IRB InvIT Fund (the fresh issue), and an offer for sale of units by the company and certain of its subsidiaries, namely Modern Road Makers, Aryan Toll Road, ATR Infrastructure and Ideal Road Builders. The investment manager reserves the option to retain oversubscription of up to 25% of the issue size in accordance with the InvIT Regulations.

Media reports suggested that the proposed IPO will unlock the investment value of IRB Infrastructure subsidiaries and boost the book value of the company.

On a consolidated basis, net profit of IRB Infrastructure Developers rose 10.41% to Rs 181.84 crore on 36.83% 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.

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