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Tata Steel shrugs off ratings downgrade
Nov 01,2016

The announcement was made yesterday, 31 October 2016.

Meanwhile, the S&P BSE Sensex was down 10.64 points or 0.04% at 27,919.57.

On BSE, so far 41,000 shares were traded in the counter as against average daily volume of 9.32 lakh shares in the past one quarter. The stock hit a high of Rs 408.40 and a low of Rs 404 so far during the day. The stock had hit a 52-week high of Rs 431.65 on 20 October 2016. The stock had hit a 52-week low of Rs 211.30 on 12 February 2016. The stock had outperformed the market over the past one month till 30 October 2016, advancing 8.08% compared with 0.23% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 14.07% as against Sensexs 0.43% fall.

The large-cap company has equity capital of Rs 971.22 crore. Face value per share is Rs 10.

Tata Steel said that ratings agency Brickwork Ratings downgraded the companys credit rating to BWR AA from BWR AA+, with negative outlook for the unsecured non-convertible debenture (NCD) issues of Rs 4000 crore. The ratings agency also downgraded ratings to BWR AA- from BWR AA for the companys unsecured subordinated perpetual debt issues of Rs 2500 crore, with negative outlook. The sudden change of guard at the holding company/group level has not only heightened the management risk for Tata Steel, but also has exposed it to uncertainty over continuity of critical decisions on cost cutting and deleveraging the balance sheet concerning the unprofitable UK operations and restructuring its European business, the ratings agency said. Unless the company takes appropriate measures in this regard, it may lead to a further deterioration in financial profile of the company, as also a rating action, the agency added.

On a consolidated basis, Tata Steel reported net loss of Rs 3183.07 crore in Q1 June 2016 as against net loss of Rs 316.91 crore in Q1 June 2015. Net sales declined 5.7% to Rs 25155.98 crore in Q1 June 2016 over Q1 June 2015.

Tata Steel is Europes second largest steel producer, with steelmaking in the UK and Netherlands, and manufacturing plants across Europe. The combined Tata Steel group is one of the worlds largest steel producers.

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Bajaj Auto extends intraday gains after declaring good Q2 result
Oct 28,2016

The Q2 result was announced during trading hours today, 28 October 2016.

Meanwhile, the S&P BSE Sensex was up 13.34 points or 0.05% at 27,929.24

On BSE, so far 1.49 lakh shares were traded in the counter as against average daily volume of 22,595 shares in the past one quarter. The stock hit a high of Rs 2,858.95 and a low of Rs 2,767.50 so far during the day. The stock had hit a record high of Rs 3,122 on 9 September 2016. The stock had hit a 52-week low of Rs 2,173.40 on 29 February 2016. The stock had underperformed the market over the past 30 days till 27 October 2016, falling 5.13% compared with 1.33% decline in the Sensex. The scrip, however, outperformed the market in past one quarter, rising 2.31% as against Sensexs 0.48% decline.

The large-cap company has equity capital of Rs 289.37 crore. Face value per share is Rs 10.

Bajaj Autos operating earnings before interest, taxes, depreciation and amortization (EBITDA) margin improved to 22.3% in Q2 September 2016 from 21.2% in Q1 June 2016. This was achieved due to richer product mix, especially for domestic market, Bajaj Auto said.

Bajaj Autos total sales fell 2% to 10.31 lakh units in Q2 September 2016 over Q2 September 2015.

The companys surplus cash and cash equivalents stood at Rs 11398 crore as on 30 September 2016, as against Rs 10701 crore as on 30 June 2016.

Bajaj Auto said in a statement that the company continues to witness headwinds in international markets.

Bajaj Auto is one of the leading two-and three-wheeler manufacturers in India.

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Grasim Industries gains after strong Q2 results
Oct 28,2016

The result was announced during market hours today, 28 October 2016.

Meanwhile, the BSE Sensex was up 10.39 points, or 0.04%, to 27,926.29.

On BSE, so far 1.37 lakh shares were traded in the counter, compared with average daily volume of 30,271 shares in the past one quarter. The stock hit a high of Rs 980.90 and a low of Rs 952.95 so far during the day. The stock hit a record high of Rs 1,069.70 on 5 August 2016. The stock hit a 52-week low of Rs 648.41 on 26 February 2016. The stock had underperformed the market over the past 30 days till 27 October 2016, falling 2.09% compared with 1.33% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 2.05% as against Sensexs 0.48% decline.

The large-cap company has equity capital of Rs 93.36 crore. Face value per share is Rs 2.

Grasim Industries consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose 29.03% to Rs 2098 crore in Q2 September 2016 over Q2 September 2015, driven by the good performance from all the businesses. The growth in net profit was supported by higher operating leverage and lower interest cost.

The company said that the outlook for the Viscose Staple Fibre (VSF) business is expected to remain stable. The business will continue to focus on expanding the VSF market in India by partnering with the textile value chain, achieving better customer connect through Brand Liva and enriching the product mix through a larger share of specialty fibre. The company said it is working on debottlenecking opportunities to meet growing demand.

The demand for caustic in India is expected to grow with the rising demand from the end user industry. The commissioning of new capacities in the industry may increase supply in the medium term. The companys plan is to increase Caustic capacity by 208K TPA to 1048K TPA through brown field expansion at Vilayat (Gujarat) and debottlenecking at other plants is on track.

The governments thrust on developing infrastructure spending, good monsoon, development of smart cities leading to growth in housing demand in Tier - I and Tier II cities augurs well for the cement industry. The slower pace of new capacity addition will lead to better Industry utilisation. UltraTech will benefit with its presence across the country to meet the expected rise in demand, the company said.

Grasim Industries two main businesses are viscose staple fibre (VSF) and cement.

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Eicher Motors slips after Q2 results
Oct 28,2016

The result was announced during trading hours today, 28 October 2016.

Meanwhile, the BSE Sensex was up 56.17 points, or 0.20%, to 27,972.07.

On BSE, so far 8,839 shares were traded in the counter, compared with average daily volume of 3,958 shares in the past one quarter. The stock hit a high of Rs 24,815.75 and a low of Rs 23,700 so far during the day. The stock hit a record high of Rs 26,601.95 on 29 September 2016. The stock hit a 52-week low of Rs 14,817.75 on 19 January 2016. The stock had underperformed the market over the past 30 days till 27 October 2016, falling 4.70% compared with 1.33% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 9.20% as against Sensexs 0.48% decline.

The large-cap company has equity capital of Rs 27.20 crore. Face value per share is Rs 10.

Eicher Motors (EML) is the flagship company of the Eicher Group. EML is one of the leading players in the Indian automotive space. EML owns the iconic Royal Enfield motorcycle business which leads the premium motorcycle segment in India. EMLs joint venture with the Volvo group, VE Commercial Vehicles, designs, manufactures and markets reliable, fuel-efficient trucks and buses.

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Volumes jump at SKF India counter
Oct 28,2016

SKF India clocked volume of 1.50 lakh shares by 14:41 IST on BSE, a 372.88-times surge over two-week average daily volume of 403 shares. The stock shed 0.5% to Rs 1,407.95.

Noida Toll Bridge Company notched up volume of 51.22 lakh shares, a 68.73-fold surge over two-week average daily volume of 75,000 shares. The stock slumped 16.25% to Rs 14.95.

Gujarat Industries Power Company saw volume of 7.59 lakh shares, a 57.83-fold surge over two-week average daily volume of 13,000 shares. The stock rose 0.98% to Rs 92.55

Vishnu Chemicals clocked volume of 1.54 lakh shares, a 15.36-fold surge over two-week average daily volume of 10,000 shares. The stock surged 17.26% to Rs 341.

City Union Bank saw volume of 43.08 shares, a 12-fold rise over two-week average daily volume of 3.59 lakh shares. The stock rose 3.14% to Rs 149.25.

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Vedanta gains after decent Q2 results
Oct 28,2016

Meanwhile, the BSE Sensex was up 68.33 points, or 0.24%, to 27,984.23.

On BSE, so far 8.01 lakh shares were traded in the counter, compared with average daily volume of 10.65 lakh shares in the past one quarter. The stock hit a high of Rs 204.10 and a low of Rs 198.55 so far during the day. The stock hit a 52-week high of Rs 208 on 21 October 2016. The stock hit a 52-week low of Rs 58.10 on 12 February 2016. The stock had outperformed the market over the past 30 days till 27 October 2016, rising 14.14% compared with 1.33% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 21.11% as against Sensexs 0.48% decline.

The large-cap company has equity capital of Rs 296.47 crore. Face value per share is Re 1.

Vedantas consolidated attributable profit after tax before exceptional items rose 12% to Rs 1252 crore on 4% decline in net sales to Rs 15666 crore in Q2 September 2016 over Q2 September 2015.

Revenues declined in Q2 September 2016 over Q2 September 2015, on account of lower oil and copper prices, lower volumes at Zinc and Cairn India, partially offset by ramp-ups in volume from the Power business.

Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose 8% to Rs 4640 crore in Q2 September 2016 over Q2 September 2015. EBITDA rose on account of higher metal prices, improved cost efficiencies at aluminium business, lower discount to Brent, ramp up of volumes in the power business, partially offset by lower volumes from Zinc India as per the mine plans and lower oil prices.

EBITDA margin was reported at 39% in Q2 September 2016, higher than 34% in Q2 September 2015.

Vedanta is a diversified natural resources company, whose business primarily involves producing oil & gas, zinc - lead - silver, copper, iron ore, aluminium and commercial power. The company has a presence across India, South Africa, Namibia, Australia and Ireland.

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Bharat Electronics gains after strong Q2 results
Oct 28,2016

The result was announced after market hours yesterday, 27 October 2016.

Meanwhile, the BSE Sensex was up 10.26 points, or 0.04%, to 27,926.16.

On BSE, so far 77,000 shares were traded in the counter, compared with average daily volume of 29,457 shares in the past one quarter. The stock hit a high of Rs 1,325.45 and a low of Rs 1,283.50 so far during the day. The stock hit a record high of Rs 1,416.70 on 4 January 2016. The stock hit a 52-week low of Rs 1,009 on 1 March 2016. The stock had underperformed the market over the past 30 days till 27 October 2016, falling 1.71% compared with 1.33% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 1.84% as against Sensexs 0.48% decline.

The large-cap company has equity capital of Rs 240 crore. Face value per share is Rs 10.

Bharat Electronics said its order book stood at Rs 34675 crore as on 1 October 2016. The company said it received orders worth Rs 4127 crore in Q2 September 2016. Export order book stood at $102 million as on 1 October 2016.

Meanwhile, Bharat Electronics announced during trading hours today, 28 October 2016, that its board appointed Koshy Alexander, currently holding the position of general manager (finance) at corporate office, as chief financial officer (key managerial persennel) of the company.

Bharat Electronics was established at Bangalore, India, by the Government of India under the Ministry of Defence in 1954 to meet the specialised electronic needs of the Indian defence services. Over the years, it has grown into a multi-product, multi-technology, multi-unit company servicing the needs of customers in diverse fields in India and abroad.

The Government of India currently holds 75.02% stake in Bharat Electronics (as per the shareholding pattern as on 30 September 2016).

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Bajaj Auto gains after declaring Q2 result
Oct 28,2016

The Q2 result was announced during trading hours today, 28 October 2016.

Meanwhile, the S&P BSE Sensex was up 14.31 points or 0.05% at 27,930.21

On BSE, so far 43,000 shares were traded in the counter as against average daily volume of 22,595 shares in the past one quarter. The stock hit a high of Rs 2,828 and a low of Rs 2,767.50 so far during the day. The stock had hit a record high of Rs 3,122 on 9 September 2016. The stock had hit a 52-week low of Rs 2,173.40 on 29 February 2016. The stock had underperformed the market over the past 30 days till 27 October 2016, falling 5.13% compared with 1.33% decline in the Sensex. The scrip, however, outperformed the market in past one quarter, rising 2.31% as against Sensexs 0.48% decline.

The large-cap company has equity capital of Rs 289.37 crore. Face value per share is Rs 10.

Bajaj Auto is one of the leading two-and three-wheeler manufacturers in India.

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JK Paper scales record high after stellar Q2 result
Oct 28,2016

The Q2 result was announced after trading hours yesterday, 27 October 2016.

Meanwhile, the S&P BSE Sensex was up 4.17 points or 0.01% at 27,920.07

On BSE, so far 4.26 lakh shares were traded in the counter as against average daily volume of 1.86 lakh shares in past one quarter. The stock hit a high of Rs 92.80 in intraday trade so far, which is also record high for the counter. The stock hit a low of Rs 88.80 so far during the day. The stock had hit a 52-week low of Rs 40.30 on 29 February 2016. The stock had outperformed the market over the past 30 days till 27 October 2016, rising 30.02% compared with 1.33% decline in the Sensex. The scrip also outperformed the market in past one quarter, surging 51.63% as against Sensexs 0.48% decline.

The small-cap company has equity capital of Rs 148.53 crore. Face value per share is Rs 10.

JK Paper is Indias leading branded paper company and the largest producer of photocopier paper.

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MOIL gains after signing of MoU with Government of Madhya Pradesh
Oct 28,2016

The announcement was made after market hours yesterday, 27 October 2016.

Meanwhile, the BSE Sensex was up 16.58 points, or 0.06%, to 27,932.48

On BSE, so far 42,000 shares were traded in the counter, compared with average daily volume of 36,475 shares in the past one quarter. The stock hit a high of Rs 328.80 and a low of Rs 322.35 so far during the day. The stock hit a 52-week high of Rs 330 yesterday, 27 October 2016. The stock hit a record low of Rs 180.10 on 12 February 2016. The stock had outperformed the market over the past 30 days till 27 October 2016, rising 24.6% compared with 1.33% decline in the Sensex. The scrip also outperformed the market in past one quarter, gaining 30.42% as against Sensexs 0.48% decline.

The mid-cap company has equity capital of Rs 133.19 crore. Face value per share is Rs 10.

MOIL has signed a Memorandum of Understanding (MoU) jointly with Government of Madhya Pradesh, Mineral Resources Department and Madhya Pradesh State Mining Corporation (MPSMCL), a PSU under Government of Madhya Pradesh, to conduct exploration and prospecting works in Madhya Pradesh. The MoU also envisages formation of a Joint Venture Company (JVC) between MOIL (51%) and MPSMCL (49%), in case of availability of ore is proved, in any area, MOIL said. The MoU is aimed at increasing the mineral resources in Madhya Pradesh, the company said.

MOILs net profit declined 47.54% to Rs 47.15 crore on 0.42% rise in net sales to Rs 183.53 crore in Q1 June 2016 over Q1 June 2015.

MOIL produces and sells different grades of manganese ore. Government of India currently holds 75.58% stake in MOIL (as per the shareholding pattern as on 11 October 2016).

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Castrol India slips after poor Q3 result
Oct 28,2016

The result was announced after market hours yesterday, 27 October 2016.

Meanwhile, the S&P BSE Sensex was up 40.23 points, or 0.14%, to 27,956.13

On BSE, so far 2.89 lakh shares were traded in the counter as against average daily volume of 11.88 lakh shares in the past one quarter. The stock hit a high of Rs 461.95 and a low of Rs 443.85 so far during the day. The stock hit a 52-week high of Rs 495 on 5 October 2016. The stock hit a 52-week low of Rs 360.10 on 1 March 2016. The stock had underperformed the market over the past 30 days till 27 October 2016, falling 3.46% compared with 1.33% decline in the Sensex. The scrip, however, outperformed the market in past one quarter, rising 3.55% as against Sensexs 0.48% decline.

The large-cap company has an equity capital of Rs 247.28 crore. Face value per share is Rs 5.

Commenting on the results, Omer Dormen, Managing Director, Castrol India said that the company continued to grow volume year on year in Q2 September 2016 across key segments. The volume growth was led by personal mobility and power brands in line with strategy and also strong growth in industrial segment, Omer Dormen said. The company witnessed softer volume in heavy duty segment due to heavy monsoon in some parts of the country. Marine segment volume dipped during the quarter due to continued pressure on marine business globally. The company continues its focus on volume growth and investment behind power brands, he said. The commercial vehicle segment has seen a healthy double digit growth in the key brands which the company continues to invest in, he added.

In its outlook, Castrol India said that looking ahead, in the longer term following the good monsoon and a strong pick up in vehicle sales trend, the company continues to remain optimistic about the Indian lubricant market and its business growth. The company is in a strong position to benefit from growth prospects on account of its strong brands, enduring relationships with key stakeholders and continued commitment of staff, it said.

Castrol India manufactures and markets a range of automotive and industrial lubricants.

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GMR Infra gains after winning arbitration against Government of Maldives
Oct 28,2016

The announcement was made after market hours yesterday, 27 October 2016.

Meanwhile, the BSE Sensex was down 6.45 points, or 0.02%, to 27,909.45.

On BSE, so far 32.09 lakh shares were traded in the counter, compared with average daily volume of 19.04 lakh shares in the past one quarter. The stock hit a high of Rs 14.40 and a low of Rs 13.90 so far during the day. The stock hit a 52-week high of Rs 18.60 on 3 December 2015. The stock hit a 52-week low of Rs 9.84 on 11 February 2016. The stock had outperformed the market over the past 30 days till 27 October 2016, falling 1.02% compared with 1.33% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 4.89% as against Sensexs 0.48% decline.

The mid-cap company has equity capital of Rs 603.59 crore. Face value per share is Re 1.

GMR Male International Airport (GMIAL), a subsidiary of GMR Infrastructure, announced that it has been awarded compensation of approximately $270 million by the 3 member international arbitral tribunal. The compensation covers the debt, equity invested in the project along with a return of 17% and also termination payments and legal costs. The compensation is net of taxes that GMIAL may be required to pay in the Maldives.

GMIAL had entered into a concession agreement with Government of Maldives (GoM) and Maldives Airport Company (MACL) for modernization and operation of Ibrahim Nasir International Airport (INIA) in 2010. The Concession Agreement was wrongfully repudiated by the Government of Maldives and Maldives Airport Company Limited on 29th November 2012 alleging that the same was void abinitio. After detailed further proceedings, the tribunal has issued its final order whereby it has awarded compensation to GMIAL.

Earlier in June 2014, the arbitration tribunal had held that GoM and MACL had wrongfullyrepudiated the concession agreement of GMIAL and that they were jointly and severally liable in damages to GMIAL for loss caused.

GMR Infrastructure reported net loss of Rs 123.06 crore in Q1 June 2016, higher than net loss of Rs 1.33 crore in Q1 June 2015. Net sales rose 318.3% to Rs 67.98 crore in Q1 June 2016 over Q1 June 2015.

GMR Group is a leading global infrastructure conglomerate with interests in airports, energy, transportation and urban infrastructure.

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VRL Logistics drops after weak Q2 financials
Oct 28,2016

The result was announced after market hours yesterday, 27 October 2016.

Meanwhile, the S&P BSE Sensex was up 40.19 points or 0.14% at 27,956.09

On BSE, so far 54,000 shares were traded in the counter as against average daily volume of 58,183 shares in the past one quarter. The stock hit a high of Rs 300 and a low of Rs 268 so far during the day. The stock had hit a 52-week high of Rs 449.50 on 30 November 2015. The stock had hit a record low of Rs 253 on 25 May 2016. The stock had underperformed the market over the past 30 days till 27 October 2016, rising 1.11% compared with 1.33% decline in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 14.57% as against Sensexs 0.48% decline.

The small-cap company has equity capital of Rs 91.24 crore. Face value per share is Rs 10.

VRL Logistics is one of the leading pan-India surface logistics and parcel delivery service providers.

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Tata Steel gains after announcing equity partnership for its Canadian Iron ore mines
Oct 28,2016

The announcement was made after market hours yesterday, 27 October 2016.

Meanwhile, the BSE Sensex was up 30.63 points, or 0.11%, to 27,946.53.

On BSE, so far 4.07 lakh shares were traded in the counter, compared with average daily volume of 9.55 lakh shares in the past one quarter. The stock hit a high of Rs 404.30 and a low of Rs 397.60 so far during the day. The stock hit a 52-week high of Rs 431.65 on 20 October 2016. The stock hit a 52-week low of Rs 211.30 on 12 February 2016. The stock had outperformed the market over the past 30 days till 27 October 2016, rising 4.56% compared with 1.33% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 11.94% as against Sensexs 0.48% decline.

The large-cap company has equity capital of Rs 971.22 crore. Face value per share is Rs 10.

Tata Steel Minerals Canada together with its parent companies signed definitive agreements for concluding investments of $125 million Canadian dollars as equity and $50 million Canadian dollars as debt with Government of Quebecs investment entities, Resources Quebec (RQ) and Investment Quebec (IQ) respectively, totaling $175 million Canadian dollars.

Tata Steel has invested in Eastern Canada to set up mining operations across several deposits straddled across the Quebec-Newfoundland and Labrador- peninsula and multiple processing facilities including a beneficiation plant. The project has consequently enabled the development of infrastructure facilities including rail, roads, telecommunications and Port that has had significant positive impact in the socio economic landscape in Quebec and NeMoundland and Labrador.

The investment will result in an 18% equity stake for Resources Quebec in Tata Steel Minerals Canada in line with the carrying value of the investment in Canadian iron ore assets for Tata Steel. Consequently, the shareholdings of Tata Steel and New Millennium Iron will be adjusted to 77.68% and 4.32% respectively.

Meanwhile, the company said that over the last few days, it has received several queries with respect to news reports regarding potential asset impairment, its European Strategy and its India operations. Tata Steel has clarified to the stock exchanges that its financial statements are prepared every quarter on a going concern basis and present a true and fair view of the state of affairs of the company. These financial statements are duly reviewed by the audit committee and approved by the board of directors of the company.

As part of the preparation of financial statements, the value-in-use of the assets of the company are tested for impairment as per the applicable Accounting Standards. Based on the above assessments and triggered by severe challenges in the underlying macro-economic and business conditions especially in Europe for several years post the global financial crisis the company has taken several impairment provisions in the recent years which have been duly recognized in the financial statements.

In accordance with IND-AS 101, on transition, the company elected fair value as deemed cost of certain assets including property, plant and equipment and investments in subsidiaries as at April 1, 2015. The net changes in the above have been reflected in the opening reserves on transition. As per the companys policy, in future, if there are further impairment indicators, the company in accordance with the Indian Accounting Standards would undertake the comparative assessment of the fair value and the value in use of the assets and recognize the difference as per the applicable Accounting Standards and disclose appropriately.

Tata Steels India operations have recently achieved a major milestone of production of 1 million tons of Hot Metal in the new greenfield steel plant in Kalinganagar, Odisha in less than six months of formal commissioning of the facilities. Similar ramp up in production has been achieved in the steel making facilities in Kalinganagar and in the last month, the combined monthly sales of Tata Steel Jamshedpur and Kalinganagar crossed 1 million tons for the first time.

In response to the recent media reports, Tata Steel would also like to clarify that it continues to pursue its European consolidation strategy and the talks with thyssenkrupp AG for a potential joint venture of its European steel business are currently ongoing and progressing. However, there can be no guarantee that these talks will result in a definitive agreement between the parties.

Tata Steel UK is also deeply engaged with all relevant stakeholders in the UK to find a structural solution and a way forward with regard to the affordability of the legacy pension scheme liabilities. A successful outcome of the above engagement would significantly help in developing the foundation for a sustainable future for the UK business. Tata Steel would also like to reaffirm that it is currently pursuing a separate process for the potential sale of the South Yorkshire-based Specialty Steels business in the UK. Any further announcement on the matter will be made at an appropriate time. In the meanwhile, the management team and the employees of the company continue to work on improving the underlying performance of the European business amidst challenging business conditions.

On a consolidated basis, Tata Steel reported net loss of Rs 3183.07 crore in Q1 June 2016 as against net loss of Rs 316.91 crore in Q1 June 2015. Net sales declined 5.7% to Rs 25155.98 crore in Q1 June 2016 over Q1 June 2015.

Tata Steel is Europes second largest steel producer, with steelmaking in the UK and Netherlands, and manufacturing plants across Europe. The combined Tata Steel group is one of the worlds largest steel producers.

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Jubilant Life Sciences gains after good Q2 earnings
Oct 28,2016

The result was announced after market hours yesterday, 27 October 2016.

Meanwhile, the BSE Sensex was up 23.44 points, or 0.08%, to 27,939.34.

On BSE, so far 1.57 lakh shares were traded in the counter, compared with average daily volume of 2.96 lakh shares in the past one quarter. The stock hit a high of Rs 698 and a low of Rs 637.50 so far during the day. The stock hit a record high of Rs 700.90 on 19 October 2016. The stock hit a 52-week low of Rs 272.50 on 20 January 2016. The stock had outperformed the market over the past 30 days till 27 October 2016, rising 2.68% compared with 1.33% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 93.73% as against Sensexs 0.48% decline.

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

Jubilant Life Sciences consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose 5 % to Rs Rs 345 crore in Q2 September 2016 over Q2 September 2015. EBITDA margins were reported at 24.3% in Q2 September 2016 compareed with 22% in Q2 September 2015.

Commenting on the Companys performance, Shyam S Bhartia, Chairman and Hari S Bhartia, Co-Chairman & Managing Director, Jubilant Life Sciences said that the company expects to deliver improved performance in the coming quarters, backed by new product launches in our Generics and Specialty businesses.

In its outlook, the company said that in the second half of the financial year ending March 2017, it is confident of improving its performance. In pharmaceuticals segment, profitability is expected to be higher on account of new product launches in generics and specialty products, growth in rest of the world (ROW) business and ramp-up of operations and new customer acquisitionsin CMO of Sterile Injectables. The companys focus will be on generating operating cash in life science ingredients by retrofitting plants for better capacity utilization with new product introductions. In drug discovery solutions, the focus will be on revenue growth aided by strong pipeline and onboarding of new customers. The compnays endeavours to reduce debt through operating cash flow and to improve key financial ratios will continue.

Jubilant Life Sciences is an integrated global pharmaceutical and life sciences company engaged in Pharmaceuticals, Life Science Ingredients and Drug Discovery Solutions.

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