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Volumes jump at Mafatlal Industries counter
Aug 12,2016

Mafatlal Industries clocked volume of 31.56 lakh shares by 12:32 IST on BSE, a 956.38-times surge over two-week average daily volume of 3,300 shares. The stock rose 12.18% to Rs 350.

Nutraplus India notched up volume of 11.69 lakh shares, a 536.09-fold surge over two-week average daily volume of 2,181 shares. The stock rose 2.36% to Rs 91.20.

Navin Fluorine International saw volume of 4.66 lakh shares, a 204.57-fold surge over two-week average daily volume of 2,276 shares. The stock rose 3.77% to Rs 2,390.05.

Atlanta clocked volume of 16.55 lakh shares, a 18.47-fold surge over two-week average daily volume of 90,000 shares. The stock rose 14.48% to Rs 68.80.

Jyothy Laboratories saw volume of 4.43 lakh shares, a 15.47-fold rise over two-week average daily volume of 29,000 shares. The stock rose 0.56% to Rs 287.

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Central Bank of India turns volatile after weak Q1 numbers
Aug 12,2016

The result was announced during trading hours today, 12 August 2016.

Meanwhile, the BSE Sensex was up 242.17 points, or 0.87%, to 28,101.77.

On BSE, so far 1.54 lakh shares were traded in the counter, compared with average daily volume of 1.19 lakh shares in the past one quarter. Trading was volatile on the counter. The stock rose 1.87% at the days high of Rs 100.85 so far during the day. The stock fell 5.05% at the days low of Rs 94 so far during the day. The stock hit a 52-week high of Rs 112 on 20 June 2016. The stock hit a 52-week low of Rs 48.20 on 17 February 2016. The stock had underperformed the market over the past 30 days till 11 August 2016, falling 3.60% compared with 0.16% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 26.84% as against Sensexs 9.30% rise.

The large-cap state-run bank has equity capital of Rs 1761.22 crore. Face value per share is Rs 10.

Central Bank of Indias total income fell 6.15% to Rs 6662.68 crore in Q1 June 2016 over Q1 June 2015.

The banks gross non-performing assets (NPAs) stood at Rs 25107.47 crore as on 30 June 2016 as against Rs 22720.88 crore as on 31 March 2016 and Rs 12931.31 crore as on 30 June 2015. The ratio of gross NPAs to gross advances stood at 13.52% as on 30 June 2016 as against 11.95% as on 31 March 2016 and 6.70% as on 30 June 2015. The ratio of net NPAs to net advances stood at 8.17% as on 30 June 2016 as against 7.36% as on 31 March 2016 and 4% as on 30 June 2015.

The banks provisions and contingencies (excluding tax provisions) surgd 165.80% to Rs 1543.66 crore in Q1 June 2016 over Q1 June 2015. Provision coverage ratio of the bank was at 52.14% as on 30 June 2016.

Government of India holds 80.76% stake in Central Bank of India (as on 30 June 2016).

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Hero MotoCorp moves north after witnessing promoter shareholding rejig
Aug 12,2016

Meanwhile, the S&P BSE Sensex was up 246.42 points or 0.88% at 28,106.02.

On BSE, so far 16,000 shares were traded in the counter as against average daily volume of 27,739 shares in the past one quarter. The stock hit a high of Rs 3,364.85 and a low of Rs 3,306.40 so far during the day. The stock had hit a record high of Rs 3,553.55 on 8 August 2016. The stock had hit a 52-week low of Rs 2,259.10 on 7 September 2015. The stock had outperformed the market over the past one month till 11 August 2016, gaining 2.08% compared with 0.84% rise in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 11.59% as against Sensexs 8.84% rise.

The large-cap company has equity capital of Rs 39.94 crore. Face value per share is Rs 2.

Brij Mohan Lal Om Prakash, a partnership firm owned by Hero MotoCorps (HMCL) promoter family sold 57.54 lakh shares of HMCL at an average price of Rs 3,319 per share in a bulk deal on the NSE yesterday, 11 August 2016. Another promoter entity Bahadur Chand Investments bought 48.80 lakh shares in this bulk deal.

Brij family held 25.76% stake and Bahadur Chand Investments owned 8.67% in HMCL as per the shareholding pattern as on 30 June 2016.

Hero MotoCorps net profit rose 18.1% to Rs 883.10 crore on 7.1% growth in net sales to Rs 7289.59 crore in Q1 June 2016 over Q1 June 2015.

Hero MotoCorp is the worlds largest two-wheeler manufacturer in terms of production capacity.

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Hero MotoCorp moves north after realignment of promoter shareholding
Aug 12,2016

Meanwhile, the S&P BSE Sensex was up 246.42 points or 0.88% at 28,106.02.

On BSE, so far 16,000 shares were traded in the counter as against average daily volume of 27,739 shares in the past one quarter. The stock hit a high of Rs 3,364.85 and a low of Rs 3,306.40 so far during the day. The stock had hit a record high of Rs 3,553.55 on 8 August 2016. The stock had hit a 52-week low of Rs 2,259.10 on 7 September 2015. The stock had outperformed the market over the past one month till 11 August 2016, gaining 2.08% compared with 0.84% rise in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 11.59% as against Sensexs 8.84% rise.

The large-cap company has equity capital of Rs 39.94 crore. Face value per share is Rs 2.

Brij Mohan Lal Om Prakash sold 57.54 lakh shares of Hero MotoCorp (HMCL) at an average price of Rs 3,319 per share in a bulk deal on the NSE yesterday, 11 August 2016. Two other promoter group entities were the buyers in the bulk deal. Bahadur Chand Investments bought 48.80 lakh shares at Rs 3,319 per share and Hero Investcorp bought 8.73 lakh shares at Rs 3,319 per share.

The total holding of promoters in HMCL stood at 34.64% as on 30 June 2016.

Hero MotoCorps net profit rose 18.1% to Rs 883.10 crore on 7.1% growth in net sales to Rs 7289.59 crore in Q1 June 2016 over Q1 June 2015.

Hero MotoCorp is the worlds largest two-wheeler manufacturer in terms of production capacity.

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ITI drops after poor Q1 results
Aug 12,2016

The result was announced after market hours yesterday, 11 August 2016.

Meanwhile, the S&P BSE Sensex was up 224.14 points or 0.8% at 28,083.74.

On BSE, so far 48,000 shares were traded in the counter as against average daily volume of 74,000 shares in the past two weeks. The stock hit a high of Rs 29 and a low of Rs 27.90 so far during the day. The stock had hit a 52-week high of Rs 34.90 on 6 January 2016. The stock had hit a 52-week low of Rs 21.75 on 25 August 2015. The stock had outperformed the market over the past one month till 11 August 2016, gaining 2.46% compared with 0.84% rise in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 15.25% as against Sensexs 8.84% rise.

The small-cap company has equity capital of Rs 288 crore. Face value per share is Rs 10.

ITI offers a complete range of telecom products and total solutions covering the whole spectrum of switching, transmission, access and subscriber premises equipment.

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Glenmark Pharma gains after good Q1 results
Aug 12,2016

The result was announced during trading hours today, 12 August 2016.

Meanwhile, the BSE Sensex was up 202.26 points, or 0.73%, to 28,061.86.

On BSE, so far 1.47 lakh shares were traded in the counter, compared with average daily volume of 40,658 shares in the past one quarter. The stock hit a high of Rs 870.50 and a low of Rs 828 so far during the day. The stock hit a record high of Rs 1,261.95 on 21 August 2015. The stock hit a 52-week low of Rs 671.50 on 12 February 2016. The stock had underperformed the market over the past 30 days till 11 August 2016, sliding 1.15% compared with 0.16% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 3.87% as against Sensexs 9.30% rise.

The large-cap company has equity capital of Rs 28.22 crore. Face value per share is Re 1.

Glenmark Pharmaceuticals consolidated revenue rose 17.92% to Rs 1943.05 crore in Q1 June 2016 over Q1 June 2015. Consolidated Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) grew by 24.75% at Rs 454.98 crore in Q1 June 2016 over Q1 June 2015.

The company said that its India business grew by 10.39% to Rs 513.76 crore in Q1 June 2016 over Q1 June 2015. US business grew by 24.44% to Rs 698.18 crore in Q1 June 2016 over Q1 June 2015. Rest of World (ROW) business grew by 23.35% to Rs 194.90 crore in Q1 June 2016 over Q1 June 2015. Europe formulations business grew by 36.50 % to Rs 149.95 crore in Q1 June 2016 over Q1 June 2015. Latin America business declined by 28.77 % to Rs. 155.62 crore in Q1 June 2016 over Q1 June 2015.

Revenue from sale of Active Pharmaceutical Ingredients (APIs) to regulated and semi-regulated markets globally rose 41.71% to Rs 191.22 crore in Q1 June 2016 over Q1 June 2015. Glenmark filed two US Drug Master File (DMF) in Q1 June 2016. The good growth was contributed by sale of Teneligliptin (domestic) & Olmesartan (US market), Lercanidipine, Adapalene, Amiodarone.

Glenmark Pharmaceuticals (GPL) is an integrated pharmaceutical organization. GPL is a leading player in the discovery of new molecules both NCEs (new chemical entity) and NBEs (new biological entity).

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JK Lakshmi Cement gains after turnaround Q1 results
Aug 12,2016

The result was announced after market hours yesterday, 11 August 2016.

Meanwhile, the BSE Sensex was up 272.51 points, or 0.98%, to 28,132.11.

On BSE, so far 27,000 shares were traded in the counter, compared with average daily volume of 21,940 shares in the past one quarter. The stock hit a high of Rs 458.80 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 442 so far during the day. The stock hit a 52-week low of Rs 253 on 12 February 2016. The stock had outperformed the market over the past 30 days till 11 August 2016, rising 10.47% compared with 0.16% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 28.03% as against Sensexs 9.30% rise.

The mid-cap company has equity capital of Rs 58.84 crore. Face value per share is Rs 5.

JK Lakshmi Cements net sales rose 31.6% to Rs 777.23 crore in Q1 June 2016 over Q1 June 2015.

JK Lakshmi Cement manufactures cement, which it sells under the brand name JK Lakshmi.

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PTC India gains after reporting decent Q1 numbers
Aug 12,2016

The result was announced after market hours yesterday, 11 August 2016.

Meanwhile, the S&P BSE Sensex was up 281.96 points or 1.01% at 28,141.56.

On BSE, so far 82,000 shares were traded in the counter as against average daily volume of 1.14 lakh shares in the past two weeks. The stock hit a high of Rs 79.25 and a low of Rs 77.25 so far during the day. The stock had hit a 52-week high of Rs 84 on 26 July 2016. The stock had hit a 52-week low of Rs 50.20 on 25 August 2015. The stock had underperformed the market over the past one month till 11 August 2016, sliding 3.79% compared with 0.84% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, advancing 20.95% as against Sensexs 8.84% rise.

The small-cap company has equity capital of Rs 296.01 crore. Face value per share is Rs 10.

PTC India provides power trading solutions in India. Its primary focus is to develop a commercially vibrant power market in the country.

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S P Apparels makes modest debut
Aug 12,2016

The stock debuted at Rs 305, a premium of 13.81% over the initial public offer (IPO) price. So far the stock hit a high of Rs 305 and low of Rs 289.75. On BSE, so far 2.13 lakh shares changed hands in the counter.

S P Apparels (SPAL) had priced its initial public offer (IPO) at Rs 268 per share, the top end of the Rs 258-268 per share price band for the IPO. The IPO ended on 4 August 2016. The IPO received bids for 1.74 crore shares. It was subscribed 2.66 times.

SPAL is a leading manufacturer and exporter of knitted garments for infants and children. From the proceeds of the fresh issue, SPAL has earmarked Rs 70 crore towards expansion and modernization of manufacturing facility at Tamil Nadu, Rs 63 crore towards repayment of debt, Rs 27.85 crore towards opening of new stores for sale of Crocodile brand, Rs 4.90 crore towards balancing machinery for existing dyeing unit in Perundurai and rest towards for general corporate purpose.

SPALs consolidated profit after tax (PAT) jumped 245% to Rs 34.71 crore on 13% growth in net sales to Rs 532.83 in the year ended 31 March 2016 (FY 2016) over the year ended 31 March 2015 (FY 2015).

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Aditya Birla Nuvo tanks after boards nod for merger into Grasim Industries
Aug 12,2016

Shares of Grasim Industries were off 1.25% at Rs 4,482.

Meanwhile, the S&P BSE Sensex was up 275.54 points or 0.99% at 28,135.14.

On BSE, so far 5.97 lakh shares of Aditya Birla Nuvo changed hands in the counter compared with average daily volume of 1.96 lakh shares in the past two weeks. The stock hit a high of Rs 1,409.15 and a low of Rs 1,180 so far during the day. The stock had hit a record high of Rs 1,664 on 9 August 2016. The stock had hit a 52-week low of Rs 685 on 29 February 2016.

The large-cap company has equity capital of Rs 130.22 crore. Face value per share is Rs 10.

After the completion of the merger of Aditya Birla Nuvo (ABNL) with Grasim, the financial services business of ABNL carried under Aditya Birla Financial Services (ABFSL) will be demerged into a separate company. ABFSL will be separately listed on the bourses in due course. For merger of ABNL with Grasim, each shareholder of ABNL will get 3 equity shares of Grasim for every 10 equity shares held in ABNL. For demerger of financial services business into ABFSL, each shareholder of Grasim (post-merger) will receive 7 equity shares in ABFSL for every 1 equity share held in Grasim. After the completion of the two-stage transaction, Grasim will hold 57% stake and Grasim shareholders will own the remaining stake in ABFSL. The transaction is expected to be completed by Q4 March 2017 or Q1 June 2017.

Kumar Mangalam Birla, Chairman, Aditya Birla Group said that the proposed restructuring will create one of Indias largest, well-diversified companies with a healthy mix of businesses with steady cash flows and long-term growth opportunities. With diverse businesses spanning manufacturing and services, the combined company provides a play on Indias growth story, Birla said. The demerger and listing of the financial services business will unlock value for shareholders, he added.

ABNLs consolidated reported net profit declined 56.79% to Rs 305 crore on 0.18% growth in revenue to Rs 3194 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 11 August 2016. ABNL net profit on like-to-like basis declined 13.1% to Rs 305 crore in Q1 June 2016 over Q1 June 2015 due to reduction of ABNLs share in Idea Cellulars net profit by Rs 148 crore.

For the current financial year (FY 2017), ABNL has planned capex of about Rs 325 crore for its divisions, including Rs 191 crore and Rs 40 crore towards the expansion of linen yarn and VFY capacities respectively. Besides, there will be a capital requirement to the tune of about Rs 750 crore in the financial services businesses and equity requirement of about Rs 150 crore for ABNLs 51% share in the new ventures viz. solar power, payments bank and health insurance, ABNL said in a statement.

ABNL is a business conglomerate. It commands leadership position across its financial services, telecom, linen and manufacturing businesses.

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Aditya Birla Nuvo tanks after boards nod for its merger with Grasim
Aug 12,2016

Shares of Grasim Industries were off 1.25% at Rs 4,482.

Meanwhile, the S&P BSE Sensex was up 275.54 points or 0.99% at 28,135.14.

On BSE, so far 5.97 lakh shares of Aditya Birla Nuvo changed hands in the counter compared with average daily volume of 1.96 lakh shares in the past two weeks. The stock hit a high of Rs 1,409.15 and a low of Rs 1,180 so far during the day. The stock had hit a record high of Rs 1,664 on 9 August 2016. The stock had hit a 52-week low of Rs 685 on 29 February 2016.

The large-cap company has equity capital of Rs 130.22 crore. Face value per share is Rs 10.

After the completion of the merger of Aditya Birla Nuvo (ABNL) with Grasim, the financial services business of ABNL carried under Aditya Birla Financial Services (ABFSL) will be demerged into a separate company. ABFSL will be separately listed on the bourses in due course. For merger of ABNL with Grasim, each shareholder of ABNL will get 3 equity shares of Grasim for every 10 equity shares held in ABNL. For demerger of financial services business into ABFSL, each shareholder of Grasim (post-merger) will receive 7 equity shares in ABFSL for every 1 equity share held in Grasim. After the completion of the two-stage transaction, Grasim will hold 57% stake and Grasim shareholders will own the remaining stake in ABFSL. The transaction is expected to be completed by Q4 March 2017 or Q1 June 2017.

Kumar Mangalam Birla, Chairman, Aditya Birla Group said that the proposed restructuring will create one of Indias largest, well-diversified companies with a healthy mix of businesses with steady cash flows and long-term growth opportunities. With diverse businesses spanning manufacturing and services, the combined company provides a play on Indias growth story, Birla said. The demerger and listing of the financial services business will unlock value for shareholders, he added.

ABNLs consolidated reported net profit declined 56.79% to Rs 305 crore on 0.18% growth in revenue to Rs 3194 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 11 August 2016. ABNL net profit on like-to-like basis declined 13.1% to Rs 305 crore in Q1 June 2016 over Q1 June 2015 due to reduction of ABNLs share in Idea Cellulars net profit by Rs 148 crore.

For the current financial year (FY 2017), ABNL has planned capex of about Rs 325 crore for its divisions, including Rs 191 crore and Rs 40 crore towards the expansion of linen yarn and VFY capacities respectively. Besides, there will be a capital requirement to the tune of about Rs 750 crore in the financial services businesses and equity requirement of about Rs 150 crore for ABNLs 51% share in the new ventures viz. solar power, payments bank and health insurance, ABNL said in a statement.

ABNL is a business conglomerate. It commands leadership position across its financial services, telecom, linen and manufacturing businesses.

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Alkem Laboratories gains after successful USFDA inspection at Maharashtra facility
Aug 12,2016

The announcement was made after market hours yesterday, 20 August 2016.

Meanwhile, the BSE Sensex was up 281.61 points, or 1.01%, to 28,141.21.

On BSE, so far 4,187 shares were traded in the counter, compared with average daily volume of 8,811 shares in the past one quarter. The stock hit a high of Rs 1,624.95 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 1,600 so far during the day. The stock hit a 52-week low of Rs 1,175 on 2 May 2016. The stock had outperformed the market over the past 30 days till 11 August 2016, rising 12.43% compared with 0.16% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising rising 34% as against Sensexs 9.30% rise.

The large-cap company has equity capital of Rs 23.91 crore. Face value per share is Rs 2.

Alkem Laboratories announced that the US Food and Drug Administration (USFDA) inspected its bioequivalence facility at Taloja in Maharashtra from 1 August to 10 August 2016. At the end of the inspection, there were no 483s issued by the USFDA.

An FDA Form 483 is issued to firm management at the conclusion of an inspection when an investigator has observed any conditions that in their judgement may constitute violations of the Food Drug and Cosmetic (FD&C) Act and related Acts.

On a consolidated basis, net profit of Alkem Laboratories declined 56.87% to Rs 56.72 crore on 24.36% rise in net sales to Rs 1110.97 crore in Q4 March 2016 over Q4 March 2015. The company will announce Q1 results today, 12 August 2016.

Alkem Laboratories is a pharmaceutical company with global operations, engaged in the development, manufacture and sale of pharmaceutical and nutraceutical products.

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MRF slides after announcing uninspiring Q1 results
Aug 12,2016

The result was announced at the fag end of after market hours yesterday, 11 August 2016. The stock had risen 0.56% to settle at Rs 36,689.30 on that day.

Meanwhile, the S&P BSE Sensex was up 249.31 points or 0.89% at 28,108.91.

On BSE, so far 427 shares were traded in the counter as against average daily volume of 2,190 shares in the past two weeks. The stock was volatile. The stock lost as much as 1.46% at the days low of Rs 36,150 so far during the day. The stock rose as much as 0.44% at the days high of Rs 36,854 so far during the day. The stock had hit a 52-week high of Rs 44,644 on 20 August 2015. The stock had hit a 52-week low of Rs 30,464.25 on 24 June 2016.

The large-cap company has equity capital of Rs 4.24 crore. Face value per share is Rs 10.

MRF manufactures the largest range of tyres in India and exports to various countries worldwide.

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Grasim, Aditya Birla Nuvo tumble after merger announcement
Aug 12,2016

Grasim Industries was down 8.13% at Rs 4,170. Aditya Birla Nuvo tanked 24.42% at Rs 1,183.40.

Meanwhile, the S&P BSE Sensex was up 131.49 points or 0.47% at 27,991.09.

After the completion of the merger of Aditya Birla Nuvo (ABNL) with Grasim, the financial services business of ABNL carried under Aditya Birla Financial Services (ABFSL) will be demerged into a separate company. ABFSL will be separately listed on the bourses in due course. For merger of ABNL with Grasim, each shareholder of ABNL will get 3 equity shares of Grasim for every 10 equity shares held in ABNL. For demerger of financial services business into ABFSL, each shareholder of Grasim (post-merger) will receive 7 equity shares in ABFSL for every 1 equity share held in Grasim. After the completion of the two-stage transaction, Grasim will hold 57% stake and Grasim shareholders will own the remaining stake in ABFSL. The transaction is expected to be completed by Q4 March 2017 or Q1 June 2017.

Kumar Mangalam Birla, Chairman, Aditya Birla Group said that the proposed restructuring will create one of Indias largest, well-diversified companies with a healthy mix of businesses with steady cash flows and long-term growth opportunities. With diverse businesses spanning manufacturing and services, the combined company provides a play on Indias growth story, Birla said. The demerger and listing of the financial services business will unlock value for shareholders, he added.

Grasims consolidated net profit surged 64% to Rs 830 crore on 9% growth in net revenue to Rs 9089 crore in Q1 June 2016 over Q1 June 2015. Earnings before interest, taxation, depreciation and amortization (EBITDA) rose 36% to Rs 2214 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 11 August 2016.

With regard to future business outlook, Grasim said that in viscose staple fibre (VSF), the business environment has improved globally. Capacity additions have slowed down which have resulted in higher operating rates in the industry, the company said. Grasim said it will continue to focus on expanding the VSF market in India by partnering with the textile value chain and better customer connect through Brand Liva. Enriching the product mix through larger share of specialty fibre in the portfolio will be yet another focus area, it said.

In cement, demand is expected to rise by about 7% in the current year, driven by the governments focus on infrastructure development, housing, smart cities etc, Grasim said. The company is well positioned across the country to cater to the growth in demand, it added.

The demand for caustic in India is expected to grow with the rising demand from the end user industry, Grasim said. To meet rising demand, caustic capacity is being raised by 2.08 lakh tonnes per annum (TPA) through brownfield expansion at Vilayat (Gujarat) and debottlenecking at other plants, the company said in a statement.

Grasim Industries board of directors at a meeting held yesterday, 11 August 2016, also approved 5-for-1 stock split.

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

ABNLs consolidated reported net profit declined 56.79% to Rs 305 crore on 0.18% growth in revenue to Rs 3194 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 11 August 2016. ABNL net profit on like-to-like basis declined 13.1% to Rs 305 crore in Q1 June 2016 over Q1 June 2015 due to reduction of ABNLs share in Idea Cellulars net profit by Rs 148 crore.

For the current financial year (FY 2017), ABNL has planned capex of about Rs 325 crore for its divisions, including Rs 191 crore and Rs 40 crore towards the expansion of linen yarn and VFY capacities respectively. Besides, there will be a capital requirement to the tune of about Rs 750 crore in the financial services businesses and equity requirement of about Rs 150 crore for ABNLs 51% share in the new ventures viz. solar power, payments bank and health insurance, ABNL said in a statement.

ABNL is a business conglomerate. It commands leadership position across its financial services, telecom, linen and manufacturing businesses.

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Escorts spurts on divestment of auto products business in all cash deal
Aug 11,2016

The announcement was made during market hours today, 11 August 2016.

Meanwhile, the S&P BSE Sensex was up 81.37 points or 0.29% at 27,856.25.

Heavy volumes accompanied the stocks rally. On BSE, so far 27.93 lakh shares were traded in the counter as against average daily volume of 4.13 lakh shares in the past one quarter. The stock hit a high of Rs 311.85 so far during the day, which is a also its record high for the counter. The stock hit a low of Rs 255.20 so far during the day. The stock had hit a 52-week low of Rs 112.70 on 12 February 2016. The stock had outperformed the market over the past one month till 10 August 2016, surging 18.46% compared with 2.39% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rallying 50.27% as against Sensexs 7.77% rise.

The mid-cap company has equity capital of Rs 122.58 crore. Face value per share is Rs 10.

Escorts announced the divestment of its OEM & export business of auto product division to Badve Engineering, Pune in an all cash deal as part of the planned strategic reorientation of the business to focus on core verticals in the agri machinery, construction equipment and railway equipment. The auto products business comprises an extensive product basket catering to OEMs (original equipment manufacturers) and replacement market in India and overseas markets for all vehicle categories including motorcycles, scooters, passenger cars, commercial vehicles, and multi-utility vehicles, Escorts said in a statement.

Dipankar Ghosh, CEO of Escorts Auto Products and Escorts Railways Products said that the transfer of OEM and Export business to Badve Engineering would help Escorts to focus on its core areas.

Escorts net profit jumped 33.5% to Rs 46.96 crore on 9.4% growth in net sales to Rs 1047.35 crore in Q1 June 2016 over Q1 June 2015.

The Escorts Group is among Indias leading engineering conglomerates operating in high growth sectors of agri machinery, construction equipment, railway equipment and auto components.

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