My Application Form Status

Check the status of your application form with Angel Broking.
Arq - The Hyper Intelligent Investment Engine By Angel Broking
Apar tumbles as board approves buyback at nominal premium
Jan 06,2017

The announcement was made during market hours today, 6 January 2017.

Meanwhile, the S&P BSE Sensex was down 113.45 points or 0.42% at 26,764.79.

On the BSE, 25,000 shares were traded on the counter so far as against the average daily volumes of 15,445 shares in the past one quarter. The stock had hit a high of Rs 659.85 and a low of Rs 607.50 so far during the day.

The stock had hit a record high of Rs 666 yesterday, 5 January 2017 and a 52-week low of Rs 406 on 29 February 2016.

The small-cap company has equity capital of Rs 38.50 crore. Face value per share is Rs 10.

Apar Industries board at its meeting held today, 6 January 2017, approved the buyback up to 4.50 lakh fully paid-up equity shares, representing up to 1.17% of the outstanding equity shares of the company at a price of Rs 660 per share payable in cash for an aggregate amount of up to Rs 29.70 crore.

The buyback represents 4.09% of the fully paid-up equity share capital and free reserves (including securities premium) as per the standalone audited balance sheet of the company for the year ended 31 March 2016. The buyback will be on a proportionate basis through the tender offer. The promoters of the company have indicated their intention to participate in the proposed buyback. Promoters held 58.21% stake in Apar Industries end September 2016.

The record date for the proposed buyback is 20 January 2017.

Apar Industries net profit rose 82.2% to Rs 45.66 crore on 1.5% rise in net sales to Rs 1252.58 crore in Q2 September 2016 over Q2 September 2015.

Apar Industries is engaged in the business of manufacture of conductors, transformer/specialty oils and power/telecom cables.

Powered by Capital Market - Live News

Religare Enterprises gains after subsidiary signs pact to divest stake in its unit
Jan 06,2017

The announcement was made during market hours today, 6 January 2017.

Meanwhile, the BSE Sensex was down 95.87 points, or 0.36%, to 26,782.37.

On the BSE, so far 6,029 shares were traded in the counter, compared with average daily volumes of 3,767 shares in the past one quarter. The stock had hit a high of Rs 264 and a low of Rs 250 so far during the day. The stock had hit a 52-week high of Rs 319 on 3 February 2016. The stock had hit a 52-week low of Rs 221.05 on 15 November 2016.

The stock had underperformed the market over the past one month till 5 January 2017, falling 6.94% compared with the Sensexs 2.01% rise. The scrip had also underperformed the market in past one quarter, dropping 8.05% as against the Sensexs 4.76% fall.

The mid-cap company has equity capital of Rs 178.33 crore. Face value per share is Rs 10.

Religare Enterprises announced that RGAM Investment Advisers Private Limited, a wholly-owned subsidiary of the company, has entered into definitive agreements on 5 January 2017 for the divestment of its stake in its wholly-owned subsidiary, Cerestra Advisors Limited, with TCP-Cerestra Ltd, a company registered under the laws of Cayman Islands; Cerestra Managers Pvt Ltd, a company registered under the laws of India; and Elephant India Finance limited, a company registered under the laws of India.

The stake will be bought by The Capital Partnership Group. The transaction is expected to be closed by28 February 2017 following the receipt of all required regulatory approvals.

Religare Enterprises had announced on 29 July 2016 that RGAM Investment Advisers has executed a binding term sheet to divest its stake in Cerestra Advisors Limited (Cerestra).

Religare Enterprises reported net loss of Rs 39.54 crore in Q2 September 2016 as against net loss of Rs 13.90 crore in Q2 September 2015. Total income declined 38.4% to Rs 11.85 crore in Q2 September 2016 over Q2 September 2015.

Religare Enterprises (REL) is the holding company for one of Indias leading diversified financial services groups. REL offers an integrated suite of financial services through its underlying subsidiaries and operating entities, including loans to SMEs, affordable housing finance, health insurance, capital markets and wealth management.

Powered by Capital Market - Live News

Idea Cellular declines on brokerage downgrade
Jan 06,2017

Meanwhile, the S&P BSE Sensex was down 92.62 points or 0.34% at 26,785.62.

On the BSE, 3.35 lakh shares were traded on the counter so far as against the average daily volumes of 6.97 lakh shares in the past one quarter. The stock had hit a high of Rs 74.65 and a low of Rs 72.70 so far during the day.

The stock had hit a 52-week high of Rs 137.85 on 6 January 2016 and a 52-week low of Rs 66 on 9 November 2016. It had outperformed the market over the past one month till 5 January 2017, advancing 2.75% compared with the Sensexs 2.01% rise. The scrip had, however, underperformed the market in past one quarter, declining 6.57% as against the Sensexs 4.76% fall.

The large-cap company has equity capital of Rs 3601.69 crore. Face value per share is Rs 10.

The brokerage sees significant decline in operating profit of Idea Cellular going forward. Unlimited voice uptake makes risk-reward unfavourable, it added.

On a consolidated basis, Idea Cellulars net profit fell 88% to Rs 91.46 crore on 7.2% growth in net sales to Rs 9298.89 crore in Q2 September 2016 over Q2 September 2015.

Idea Cellular is the third largest wireless operator in India. Idea is part of the Aditya Birla Group, which is one of the largest business groups in India.

Powered by Capital Market - Live News

SREI Infra gains after early closure of debenture issue by subsidiary
Jan 06,2017

The announcement was made during market hours today, 6 January 2016.

Meanwhile, the BSE Sensex was down 9.53 points, or 0.04%, to 26,868.71.

On the BSE, 1.08 lakh shares were traded in the counter so far, compared with an average volume of 1.87 lakh shares in the past one quarter. The stock had hit a high of Rs 81.70 and a low of Rs 79.30 so far during the day. The stock had hit a 52-week high of Rs 91.95 on 10 November 2016. The stock had hit a 52-week low of Rs 42.35 on 24 May 2016.

The stock had underperformed the market over the past one month till 5 January 2017, remaining unchanged compared with the Sensexs 2.01% rise. The scrip had, however, outperformed the market in past one quarter, gaining 7.18% as against the Sensexs 4.76% fall.

The small-cap company has an equity capital of Rs 503.09 crore. Face value per share is Rs 10.

SREI Infrastructure Finance announced that Srei Equipment Finance (SEFL), a material subsidiary of the company has exercised the option of early closure of the public issue of secured redeemable non-convertible debentures and the issue shall now close today, 6 January 2017.

The issue opened for subscription on 3 January 2017 and was scheduled to close on 20 January 2017.

SREI Infrastructure Finance had announced on 26 December 2016 that Srei Equipment Finance is proposing a public issue of 25 lakh secured redeemable non-convertible debentures of face value of Rs 1,000 each for an amount upto Rs 250 crore with an option to retain over subscription upto Rs 500 crore.

SEFL is a leading equipment finance institutions. The object of the issue was to raise funds for various financing activities, to repay the companys existing loans and business operations etc.

On consolidated basis, SREI Infrastructure Finances net profit jumped 438% to Rs 61.87 crore on 30% rise in total income to Rs 1106.65 crore in Q2 September 2016 over Q2 September 2015.

SREI Infrastructure Finance is a leading infrastructure financing conglomerate in India.

Powered by Capital Market - Live News

Natco jumps after USFDA final nod for generic drug
Jan 06,2017

The announcement was made during market hours today, 6 January 2017.

Meanwhile, the S&P BSE Sensex was down 27.79 points or 0.1% at 26,850.45.

On the BSE, 95,000 shares were traded on the counter so far as against the average daily volumes of 30,653 shares in the past one quarter. The stock had hit a high of Rs 632 and a low of Rs 596.95 so far during the day.

The stock had hit a record high of Rs 703.95 on 25 August 2016 and a 52-week low of Rs 390 on 29 March 2016. It had underperformed the market over the past one month till 5 January 2017, advancing 0.96% compared with the Sensexs 2.01% rise. The scrip had also outperformed the market in past one quarter, declining 1.12% as against the Sensexs 4.76% fall.

The large-cap company has equity capital of Rs 34.86 crore. Face value per share is Rs 2.

Natco Pharma said it has received the final approval of abbreviated new drug application (ANDA) containing a paragraph IV certification filed with the US Food and Drug Administration (FDA) for generic version of Bendamustine Hydrochloride powder for Injection, 25 mg/vial and 100 mg/vial (singe-dose vial).

Pursuant to the settlement of the Paragraph IV litigation, Natco plans to launch this drug on 1 November 2019, or earlier under certain circumstances, through its marketing partner Breckenridge Pharmaceutical, Inc., in the US market. Natco and Breckenridge filed their ANDA with a Paragraph IV certification on the first-to-file date and expect to share 180-day exclusivity with other ANDA first filers.

Cephalon (acquired by Teva in 2011) sells Bendamustine Hydrochloride powder for Injection, 25 mg/vial and 100 mg/vial (singe-dose vial) under Brand name TREANDA in the US market. TREANDA is indicated for the treatment of patients with chronic lymphocytic leukemia (CLL) and non-Hodgkins lymphoma. TREANDA had US sales of approximately $133 million for twelve months ended November 2016, according to IMS Health.

On a consolidated basis, net profit of Natco Pharma rose 127.2% to Rs 66.55 crore on 75.6% rise in net sales to Rs 415.21 crore in Q2 September 2016 over Q2 September 2015.

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

Powered by Capital Market - Live News

Volumes jump at Fag Bearings India counter
Jan 06,2017

Fag Bearings India clocked volume of 20,000 shares by 13:05 IST on BSE, a 212.29-times surge over two-week average daily volume of 95 shares. The stock lost 0.25% at Rs 3,891.

EIH notched up volume of 6.29 lakh shares, a 152.47-fold surge over two-week average daily volume of 4,000 shares. The stock fell 0.36% at Rs 96.05.

KPR Mill saw volume of 1.53 lakh shares, a 46.6-fold surge over two-week average daily volume of 3,000 shares. The stock rose 0.27% at Rs 566.25.

CCL Products (India) clocked volume of 3.13 lakh shares, a 38.36-fold surge over two-week average daily volume of 8,000 shares. The stock was unchanged at Rs 266.25.

eClerx Services saw volume of 52,000 shares, a 27.01-fold rise over two-week average daily volume of 2,000 shares. The stock was up 0.39% at Rs 1,430.

Powered by Capital Market - Live News

Wockhardt leads gainers in A group
Jan 06,2017

Wockhardt jumped 7.23% to Rs 721.95 at 12:40 IST. The stock topped the gainers in the BSEs A group. On the BSE, 6.27 lakh shares were traded on the counter so far as against the average daily volumes of 1.87 lakh shares in the past two weeks.

Wockhardt said that competent authority, Berlin, Germany has issued EU good manufacturing practices (GMP) certificate confirming that companys manufacturing facility at 138, GIDC Estate, Ankaleshwar, Gujarat, complies with the principles and guidelines of good manufacturing practices. The certificate issued in this regard is valid for 3 years. The announcement was made after market hours yesterday, 5 January 2017.

JSW Energy jumped 7.14% to Rs 66.05. The stock was the second biggest gainer in A group. On the BSE, 10.59 lakh shares were traded on the counter so far as against the average daily volumes of 2.81 lakh shares in the past two weeks.

Fortis Healthcare gained 5.02% at Rs 194.50. The stock was the third biggest gainer in A group. On the BSE, 9.05 lakh shares were traded on the counter so far as against the average daily volumes of 1.35 lakh shares in the past two weeks.

Religare Enterprises surged 4.38% at Rs 261. The stock was the fourth biggest gainer in A group. On the BSE, 3,244 shares were traded on the counter so far as against the average daily volumes of 912 shares in the past two weeks.

Indian Bank rose 4.57% to Rs 238.90. The stock was the fifth biggest gainer in A group. On the BSE, 1.43 lakh shares were traded on the counter so far as against the average daily volumes of 55,000 shares in the past two weeks.

Powered by Capital Market - Live News

MBL Infrastructures gains on bargain hunting post 55.62% tumble
Jan 06,2017

Meanwhile, the BSE Sensex was up 15.52 points, or 0.06%, to 26,893.76.

On the BSE, 4,370 shares were traded in the counter so far, compared with an average volume of 79,874 shares in the past one quarter. The was locked at a high of Rs 40.15 so far during the day. The stock had hit a 52-week high of Rs 224 on 6 January 2016. The stock had hit a 52-week low of Rs 34.65 yesterday, 5 January 2017.

The stock had underperformed the market over the past one month till 5 January 2017, dropping 49.8% compared with the Sensexs 2.01% rise. The scrip had also underperformed the market in past one quarter, slumping 66.54% as against the Sensexs 4.76% fall.

The small-cap company has an equity capital of Rs 41.45 crore. Face value per share is Rs 10.

Shares of MBL Infrastructures had witnessed unabated selling post announcement of reverse turnaround in Q2 results on 14 December 2016. MBL Infrastructures reported consolidated net loss of Rs 121.84 crore in Q2 September 2016 compared with net profit of Rs 17.47 crore in Q2 September 2015. Consolidated net sales fell 7.9% to Rs 378.99 crore in Q2 September 2016 over in Q2 September 2015.

Shares of the company had dropped 55.62% in sixteen sessions to close at Rs 36.45 on 4 January 2017 from its close of Rs 82.15 on 13 December 2016.

Selling pressure was also aggravated after MBL Infrastructures on 14 December 2016 announced that Madhya Pradesh Road Development Corporation Limited (MPRDC) illegally terminated two projects being executed by the 100% subsidiaries of the company.

MPRDC illegally terminated build, operate and transfer (BOT) project of development and operation of Seoni-Katangi-Maharashtra border section of State Highway no. 54 by two laning on design, build, finance, operate and transfer (DBFOT) basis being executed by the 100% subsidiary of the company MBL Highway Development Company Limited.

The another BOT project was for widening and upgrading of Garra-Waraseoni-Maharashtra border section of Major District Road (MDR) in Madhya Pradesh through public private partnership (PPP) on DBFOT basis being executed by the 100% subsidiary of the company MBL (MP) Road Nirman Company Limited.

The company had said at that time that arbitration has been invoked by both the subsidiary companies as per the provisions of the concession agreement.

MBL Infrastructures is engaged in execution of civil engineering projects with specialisation in roads & highways. The company has a rich experience in road building and maintenance. The company has an integrated business model for engineering, procurement and construction (EPC) and BOT (build-operate-transfer) projects.

Powered by Capital Market - Live News

Strong Q3 earnings boost Chartered Logistics
Jan 06,2017

The result was announced after market hours yesterday, 5 January 2017.

Meanwhile, the S&P BSE Sensex was up 10.31 points or 0.04% at 26,888.55.

On the BSE, 17.89 lakh shares were traded on the counter so far as against the average daily volumes of 2.81 lakh shares in the past one quarter. The stock had hit a high of Rs 24.90 and a low of Rs 22.90 so far during the day.

The stock had hit a 52-week high of Rs 26.70 on 4 August 2016 and a 52-week low of Rs 13.25 on 12 February 2016. It had outperformed the market over the past one month till 5 January 2017, advancing 16.24% compared with the Sensexs 2.01% rise. The scrip had also outperformed the market in past one quarter, gaining 11.71% as against the Sensexs 4.76% fall.

The small-cap company has equity capital of Rs 9.93 crore. Face value per share is Rs 1.

Chartered Logistics is a logistics company and a transport service provider.

Powered by Capital Market - Live News

GE Power India gains after securing new order
Jan 06,2017

The announcement was made after market hours yesterday, 5 January 2017.

Meanwhile, the S&P BSE Sensex was down 12.06 points or 0.04% at 26,866.18.

On the BSE, 1,146 shares were traded on the counter so far as against the average daily volumes of 1,617 shares in the past one quarter. The stock had hit a high of Rs 545 and a low of Rs 525 so far during the day.

The stock had hit a 52-week high of Rs 689.15 on 8 January 2016 and a 52-week low of Rs 440.50 on 21 November 2016. The stock had outperformed the market over the past one month till 05 January 2017, advancing 8.26% compared with the Sensexs 2.01% rise. The scrip had also outperformed the market over the past one quarter, declining 3.79% as against the Sensexs 4.76% fall.

The mid-cap company has equity capital of Rs 67.23 crore. Face value per share is Rs 10.

GE Power India announced that it has been awarded a contract by NTPC ALSTOM Power Services (a 50:50 joint venture between NTPC & GE) of approximately Rs 198.80 crore including duties and taxes for steam turbine upgrade project at NTPCs Ramagundam super thermal power plant in Telangana. The companys scope of work consists of supply of steam turbine module, its auxiliaries, turbine controller and spares including supervision of erection, commissioning and testing, GE Power India said.

GE Power India reported net loss of Rs 97.10 crore in Q2 September 2016, higher than net loss of Rs 48.02 crore in Q2 September 2015. Net sales declined 9.8% to Rs 477.65 crore in Q2 September 2016 over Q2 September 2015.

GE Power India is engaged in power generation with deep domain expertise to help customers deliver electricity from a wide spectrum of fuel sources.

Powered by Capital Market - Live News

SpiceJet nudges higher on buzz of fleet expansion
Jan 06,2017

Meanwhile, the BSE Sensex was up 7.62 points, or 0.03%, to 26,885.86.

On the BSE, 20.65 lakh shares were traded in the counter so far, compared with an average volume of 42.64 lakh shares in the past one quarter. The stock had hit a high of Rs 64.70 and a low of Rs 63.50 so far during the day. The stock had hit a 52-week high of Rs 95.30 on 28 January 2016. The stock had hit a 52-week low of Rs 54.50 on 9 November 2016.

The stock had underperformed the market over the past one month till 5 January 2017, rising 0.48% compared with the Sensexs 2.01% rise. The scrip had, however, outperformed the market in past one quarter, gaining 8.04% as against the Sensexs 4.76% fall.

The mid-cap low-cost airliner has an equity capital of Rs 599.45 crore. Face value per share is Rs 10.

As per reports, the deal, which would more than double SpiceJets 40-plane fleet, may be closed within weeks. The order could be worth about $10.1 billion, report added.

SpiceJets net profit jumped 103.1% to Rs 58.92 crore on 33.9% rise in net sales to Rs 1378.47 crore in Q2 September 2016 over Q2 September 2015.

SpiceJet is a low-cost airliner.

Powered by Capital Market - Live News

Bharti Infratel moves higher on brokerage upgrade
Jan 06,2017

Meanwhile, the S&P BSE Sensex was down 1.09 points at 26,877.15.

On the BSE, 13,000 shares were traded on the counter so far as against the average daily volumes of 1.24 lakh shares in the past one quarter. The stock had hit a high of Rs 355.40 and a low of Rs 351.60 so far during the day.

The stock had hit a 52-week high of Rs 426 on 6 January 2016 and a 52-week low of Rs 302.10 on 24 June 2016. It had underperformed the market over the past one month till 5 January 2017, sliding 9.74% compared with the Sensexs 2.01% rise. The scrip had also underperformed the market in past one quarter, declining 6.99% as against the Sensexs 4.76% fall.

The large-cap company has equity capital of Rs 1849.61 crore. Face value per share is Rs 10.

The brokerage expects stronger tenancy growth for Bharti Infratel. Bharti Airtels stake sale in the company could be a catalyst, it added. The brokerage has raised its earnings estimates for Bharti Infratel by 2-3% for FY 2018-19.

Bharti Infratels consolidated net profit rose 30.8% to Rs 773.80 crore on 9% growth in net sales to Rs 1496.30 crore in Q2 September 2016 over Q2 September 2015. The company is scheduled to announce Q3 December 2016 results on 23 January 2017.

Bharti Infratel is a provider of telecom tower and related infrastructure.

Powered by Capital Market - Live News

Piramal Enterprises gains on plan to enter housing finance business
Jan 06,2017

The announcement was made before market hours today, 6 January 2017.

Meanwhile, the S&P BSE Sensex was up 129.68 points or 0.48% at 27,007.40.

On the BSE, 12,300 shares were traded on the counter so far as against the average daily volumes of 13,500 shares in the past one quarter. The stock had hit a high of Rs 1,719.50 and a low of Rs 1,681.05 so far during the day.

The stock had hit a record high of Rs 2,095 on 22 August 2016. The stock hit a 52-week low of Rs 835.05 on 03 March 2016. The stock had underperformed the market over the past one month till 5 January 2017, declining 0.72% compared with the Sensexs 2.01% rise. The scrip had also underperformed the market over the past one quarter, sliding 12.2% as against the Sensexs 4.76% fall.

The large-cap company has equity capital of Rs 34.51 crore. Face value per share is Rs 2.

At a board meeting held yesterday, 5 January 2017, Piramal Enterprises announced plans to enter the retail housing finance market. The companys board of directors has given its approval for Piramal Finance (PFL) to make an application to the National Housing Bank (NHB) for incorporating a housing finance company (HFC) as its subsidiary. The companys wholly owned subsidiary, PFL is in the business of providing financial services.

PFL already has a long standing presence in wholesale finance, catering to the entire spectrum of financing needs across real estate (both residential and commercial) as well as non-real estate (operating infrastructure and other sectors) sectors with a current overall loan book extending to Rs 19170 crore. Individual housing loans are both a diversification strategy as well as a natural extension of its business, completing its suite of products with an offering for the retail customer segment, Piramal Enterprises said.

Ajay Piramal, Chairman, Piramal Enterprises said that after having successfully scaled up presence in wholesale finance through Piramal Finance, the company believes that it has established a blueprint for growth within the real estate asset class. Therefore, the company feels that the timing is opportune for it to make a foray into retail housing finance, Piramal said.

Piramal Enterprises consolidated net profit rose 30.2% to Rs 306.36 crore on 29.7% rise in net sales of Rs 1936.40 crore in Q2 September 2016 over Q2 September 2015.

Piramal Enterprises is one of Indias large diversified companies with a presence in healthcare, healthcare information management and financial services.

Powered by Capital Market - Live News

Sagar Cements gains after reporting sales volume for December
Jan 06,2017

The announcement was made after market hours yesterday, 5 January 2017.

Meanwhile, the S&P BSE Sensex was up 62.46 points or 0.23% at 26,940.70.

On the BSE, 1,983 shares were traded on the counter so far as against the average daily volumes of 4,236 shares in the past one quarter. The stock had hit a high of Rs 670 and a low of Rs 635.50 so far during the day.

The stock had hit a record high of Rs 835 on 14 October 2016 and a 52-week low of Rs 350 on 18 February 2016. It had underperformed the market over the past one month till 5 January 2017, sliding 2.57% compared with the Sensexs 2.01% rise. The scrip had also underperformed the market in past one quarter, declining 12.28% as against the Sensexs 4.76% fall.

The small-cap company has equity capital of Rs 18 crore. Face value per share is Rs 10.

Sagar Cements consolidated sales volume stood at 1.54 lakh metric tonnes in December 2016, almost same as that of December 2015. During the 9-month period from April-December 2016, the company reported a consolidated sales volume of 15.58 lakh metric tonnes, higher than 13.22 lakh tonnes sales volume reported during the 9-month period from April-December 2015.

Net profit of Sagar Cements declined 71.5% to Rs 2.50 crore on 29% decline in net sales to Rs 119.20 crore in Q2 September 2016 over Q2 September 2015.

Sagar Cements is engaged in manufacturing of cement.

Powered by Capital Market - Live News

Mastek edges higher after its unit acquires digital commerce solution provider
Jan 06,2017

The announcement was made after market hours yesterday, 5 January 2017.

Meanwhile, the BSE Sensex was up 93.94 points, or 0.35%, to 26,972.07.

On the BSE, 43,069 shares were traded in the counter so far, compared with average daily volume of 95,094 shares in the past one quarter. The stock had hit a high of Rs 181 and a low of Rs 176.30 so far during the day. The stock had hit a 52-week high of Rs 201.40 on January 2016. The stock had hit a 52-week low of Rs 104.70 on 17 February 2016.

The stock had outperformed the market over the past one month till 5 January 2017, rising 25.31% compared with the Sensexs 2.01% rise. The scrip had also outperformed the market in past one quarter, gaining 32.69% as against the Sensexs 4.76% fall.

The small-cap company has equity capital of Rs 11.65 crore. Face value per share is Rs 5.

Digility Inc., the wholly owned subsidiary of Mastek UK, and a step down US based subsidiary of Mastek announced the acquisition of US-based leading digital commerce solution provider, TAISTech.

The TAISTech Executive Leadership Team, led by Kapil Malik and Aman Bedi, will continue to run operations as a wholly owned subsidiary of Digility Inc.

Founded in 2000, TAISTech is a digital commerce services leader that provides strategic consulting, large-scale commerce implementations and support for the Oracle Commerce and Oracle Commerce Cloud applications. In addition, TAISTech also provides omnichannel strategy, creative design, mobile app development, ongoing maintenance and training.

TAISTech, with revenues close to $30 million, has posted steady growth of 15% compounded annual growth rate (CAGR) over the past four years in the US market and has been exploring aggressive expansion plans into Latin America and Europe.

This acquisition will create a platform for Masteks accelerated growth in the US market and will augment Masteks 2020 vision to be a global leader in digital transformation services.

TAISTech brings experience with some the most powerful brands in the retail and manufacturing industries, including Fortune 500 customers. The company delivers a personalized customer buying experience across web, mobile, social media and brick and mortar stores. With the acquisition in place, TAISTech will also grow its service portfolio by leveraging Masteks strength in data warehousing, business intelligence and analytics, enterprise testing and Agile process consultancy services.

Post the demerger of Majesco, Mastek has been allocating capital to expand its reach in geographies, markets and capabilities. In 2015, Mastek acquired the UK-based leader in Agile Digital Transformation, IndigoBlue and created a fully owned subsidiary, Digility Inc to renter the US market.

Masteks consolidated net profit rose 113.7% to Rs 7.65 crore on 3.62% decline in net sales to Rs 124.90 crore in Q2 September 2016 over Q1 June 2016.

Mastek is a publicly held leading IT player with global operations providing enterprise solutions to government, retail and financial services organizations worldwide.

Powered by Capital Market - Live News