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Sun Pharma slides after uninspiring Q1 results from US subsidiary Taro Pharma
Aug 11,2016

Meanwhile, the S&P BSE Sensex was up 18.12 points or 0.07% at 27,793.

On BSE, so far 1.77 lakh shares were traded in the counter as against average daily volume of 2.87 lakh shares in the past one quarter. The stock hit a high of Rs 817 and a low of Rs 785.70 so far during the day. The stock had hit a 52-week low of Rs 706.40 on 24 November 2015. The stock had hit a 52-week high of Rs 965.15 on 20 August 2015. The stock had outperformed the market over the past one month till 10 August 2016, gaining 4.98% compared with 2.39% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, advancing 1.86% as against Sensexs 7.77% rise.

The large-cap company has equity capital of Rs 240.68 crore. Face value per share is Rs 1.

Taro Pharmaceutical Industries (Taro Pharma) net profit rose 6.08% to $109.9 million on 8.6% increase in net sales to $233.8 million in Q1 June 2016 over Q1 June 2015. The quarter (Q1 June 2016) witnessed slight decrease in the volumes over corresponding previous period. Net sales in Q1 June 2015 were negatively impacted by a $14 million provision for price protections.

Kal Sundaram, Taros CEO stated that the companys increased R&D investment reflects its continuing focus on developing a strong product pipeline. Sales from new products are beginning to accelerate, however they continue to experience increased competitive intensity, Sundaram said.

Sun Pharmaceutical Industries is scheduled to announce Q1 June 2016 results tomorrow, 12 August 2016. The companys consolidated net profit rose 92.7% to Rs 1713.69 crore on 21.5% growth in net sales to Rs 7413.87 crore in Q4 March 2016 over Q4 March 2015.

Sun Pharmaceutical Industries is the worlds fifth largest specialty generic pharmaceutical company and Indias top pharmaceutical company.

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Bank of Baroda tumbles after weak Q1 results
Aug 11,2016

The result was announced before trading hours today, 11 August 2016.

Meanwhile, the BSE Sensex was almost flat at 27,775.59.

On BSE, so far 20.41 lakh shares were traded in the counter, compared with average daily volume of 11.52 lakh shares in the past one quarter. The stock hit a high of Rs 153 and a low of Rs 146.40 so far during the day. The stock hit a 52-week high of Rs 216.25 on 18 August 2015. The stock hit a 52-week low of Rs 109.45 on 12 February 2016. The stock had underperformed the market over the past 30 days till 10 August 2016, falling 0.28% compared with 0.12% decline in the Sensex. The scrip had also underperformed the market in past one quarter, rising 1.65% as against Sensexs 7.70% rise.

The large-cap state-run bank has equity capital of Rs 460.83 crore. Face value per share is Rs 2.

The banks gross non-performing assets (NPAs) stood at Rs 42991.68 crore as on 30 June 2016 as against Rs 40521.04 crore as on 31 March 2016 and Rs 17273.95 crore as on 30 June 2015. The ratio of gross NPAs to gross advances stood at 11.15% as on 30 June 2016 as against 9.99% as on 31 March 2016 and 4.13% as on 30 June 2015. The ratio of net NPAs to net advances stood at 5.73% as on 30 June 2016 as against 5.06% as on 31 March 2016 and 2.07% as on 30 June 2015.

The banks provisions and contingencies (excluding tax provisions) surged 234.16% to Rs 2004.07 crore in Q1 June 2016 over Q1 June 2015. Provision coverage ratio of the bank was at 60.17% as on 30 June 2016.

Government of India holds 59.23% stake in Bank of Baroda (as on 30 June 2016).

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Honda Siel Power gains as Reliance MF purchases bulk shares
Aug 11,2016

Meanwhile, the S&P BSE Sensex was up 21.11 points or 0.08% at 27,795.99.

On BSE, so far 509 shares were traded in the counter as against average daily volume of 2,854 shares in the past one quarter. The stock hit a high of Rs 1,274 and a low of Rs 1,225 so far during the day. The stock had hit a 52-week high of Rs 1,422 on 29 December 2015. The stock had hit a 52-week low of Rs 1,052.50 on 8 September 2015. The stock had underperformed the market over the past one month till 10 August 2016, sliding 0.41% compared with 2.39% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 2.99% as against Sensexs 7.77% rise.

The small-cap company has equity capital of Rs 10.14 crore. Face value per share is Rs 10.

Reliance Capital Trustee Co Ltd A/C MF bought 1.28 lakh shares of Honda Siel Power Products at an average price of Rs 1,215 per share in a bulk deal on the BSE. Reliance Mutual Fund bought 2 lakh shares at an average price of Rs 1,215 per share in a bulk deal on the NSE.

Honda Siel Power Products net profit rose 6.3% to Rs 15.36 crore on 4.4% growth in net sales to Rs 190.20 crore in Q4 March 2016 over Q4 March 2015.

Honda Siel Power Products is a manufacturer of power products and is a subsidiary of Honda Motor Co. Japan.

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Punj Lloyd gains as Q1 net loss narrows
Aug 11,2016

Meanwhile, the BSE Sensex was up 31.11 points, or 0.11%, to 27,805.99.

On BSE, so far 2.46 lakh shares were traded in the counter, compared with average daily volume of 3.08 lakh shares in the past one quarter. The stock hit a high of Rs 21.10 and a low of Rs 20.35 so far during the day. The stock hit a 52-week high of Rs 33.90 on 11 August 2015. The stock hit a record low of Rs 17.65 on 7 June 2016. The stock had underperformed the market over the past 30 days till 10 August 2016, falling 11.43% compared with 0.12% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 11.24% as against Sensexs 7.70% rise.

The small-cap company has equity capital of Rs 66.42 crore. Face value per share is Rs 2.

Punj Lloyd reported net loss of Rs 211.39 crore in Q1 June 2016, lower than net loss of Rs 581.84 crore in Q1 June 2015. Total income rose 45.5% to Rs 1010.17 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 10 August 2016.

Earnings before interest, taxes, depreciation and amortization (EBITDA) was reported at Rs 36 crore Q1 June 2016 compared with loss of Rs 289 crore in Q1 June 2015.

The companys chairman and managing director, Atul Punj, said that the company improved its performance as a result of the turnaround efforts put in across various fronts. The order backlog remains strong at Rs 21618 crore and execution of all projects across geographies is progressing in line with defined timelines. The firm is seeing a gradually improving environment both in India and overseas and are optimistic of opportunities unfolding. The companys thrust is on improving the quality of its balance sheet, execution of projects, recovery of claims, cash flows and settling all legacy issues.

Punj Lloyd is a diversified international conglomerate offering engineering procurement construction (EPC) services in energy and infrastructure along with engineering and manufacturing capabilities in the defence sector.

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Indiabulls Real Estate gains after good Q1 earnings
Aug 11,2016

The result was announced after market hours yesterday, 10 August 2016.

Meanwhile, the BSE Sensex was down 15.58 points, or 0.06%, to 27,759.30.

On BSE, so far 4.41 lakh shares were traded in the counter, compared with average daily volume of 19.35 lakh shares in the past one quarter. The stock hit a high of Rs 89.10 and a low of Rs 85.70 so far during the day. The stock hit a 52-week high of Rs 105.25 on 30 May 2016. The stock hit a 52-week low of Rs 42.25 on 12 February 2016. The stock had underperformed the market over the past 30 days till 10 August 2016, falling 11.18% compared with 0.12% decline in the Sensex. The scrip had also underperformed the market in past one quarter, rising 1.86% as against Sensexs 7.70% rise.

The mid-cap company has equity capital of Rs 101.13 crore. Face value per share is Rs 2.

Indiabulls Real Estates consolidated EBITDA (earnings before interest, taxes, depreciation and amortization), excluding non-operating income, rose 8.20% to Rs 299.63 crore in Q1 June 2016 over Q1 June 2015.

EBITDA margin (excluding non-operating income) was reported at 34.30% in Q1 June 2016 compared with 33.90% in Q1 June 2015.

Indiabulls Real Estate is a real estate development company with development projects spread across office and commercial complexes, premium residential developments, mega townships, retail spaces, hotel and resorts, special economic zones and infrastructure development.

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Lupin inches up after securing final FDA nod for electrotyte replenisher drug
Aug 11,2016

The announcement was made after market hours yesterday, 10 August 2016.

Meanwhile, the S&P BSE Sensex was down 55.33 points or 0.2% at 27,719.55.

On BSE, so far 17,000 shares were traded in the counter as against average daily volume of 1.40 lakh shares in the past one quarter. The stock hit a high of Rs 1,567.60 and a low of Rs 1,551 so far during the day. The stock had hit a record high of Rs 2,127 on 6 October 2015. The stock had hit a 52-week low of Rs 1,294.05 on 29 March 2016. The stock had underperformed the market over the past one month till 10 August 2016, sliding 5.63% compared with 2.39% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 4.31% as against Sensexs 7.77% rise.

The large-cap company has equity capital of Rs 90.20 crore. Face value per share is Rs 2.

Lupin announced that its US subsidiary Gavis Pharmaceuticals LLC, USA has received final approval for its Potassium Chloride Extended-Release Tablets USP, 8 mEq (600 mg) and 10 mEq (750 mg) from the United States Food and Drug Administration (USFDA) to market a generic equivalent of Upsher-Smith Labs Klor-Con Extended-Release Tablets, 8 mEq and 10 mEq. It is an electrotyte replenisher indicated for the therapeutic use of patients with hypokalemia, with or without metabolic alkalosis; in digitalis intoxication; and in patients with hypokalemic familial periodic paralysis. Klor-Con Extended-Release Tablets, 8 mEq and 10 mEq had US annual sales of $101.3 million as per IMS MAT June 2016.

Shares of Lupin had tanked 8.72% in the preceding two trading sessions to settle at Rs 1,545.05 yesterday, 10 August 2016 from its close of Rs 1,692.75 on 8 August 2016, after the companys announcement of Q1 June 2016 results during trading hours on 9 August 2016. Lupins consolidated net profit rose 55.1% to Rs 882 crore on 40% growth in net sales to Rs 4313.60 crore in Q1 June 2016 over Q1 June 2015.

A foreign brokerage has reportedly downgraded shares of the Indian drug maker to sell after the announcement of the first quarter results. The brokerage reportedly said that the competition in top US products will weigh on the companys growth. Lupins key complex products lack visibility of launch. Lupin is likely to post single digit earnings per share growth in the year ending March 2018, it added. Meanwhile, another foreign brokerage reportedly maintained underperform rating on Lupin. It reportedly said that risk-reward ratio is unfavourable for the stock. Q1 has been a peak profit quarter for Lupin. The brokerage cut its estimates on Lupins earnings per share for the year ending March 2017 (FY 2017).

Lupin is a pharmaceutical company producing and developing a wide range of branded & generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally. The company is a significant player in the cardiovascular, diabetology, asthma, pediatric, CNS, GI, anti-infective and NSAID space and holds global leadership positions in the anti-TB segment.

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Lupin inches up after securing final USFDA nod for electrolyte replenisher drug
Aug 11,2016

The announcement was made after market hours yesterday, 10 August 2016.

Meanwhile, the S&P BSE Sensex was down 55.33 points or 0.2% at 27,719.55.

On BSE, so far 17,000 shares were traded in the counter as against average daily volume of 1.40 lakh shares in the past one quarter. The stock hit a high of Rs 1,567.60 and a low of Rs 1,551 so far during the day. The stock had hit a record high of Rs 2,127 on 6 October 2015. The stock had hit a 52-week low of Rs 1,294.05 on 29 March 2016. The stock had underperformed the market over the past one month till 10 August 2016, sliding 5.63% compared with 2.39% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 4.31% as against Sensexs 7.77% rise.

The large-cap company has equity capital of Rs 90.20 crore. Face value per share is Rs 2.

Lupin announced that its US subsidiary Gavis Pharmaceuticals LLC, USA has received final approval for its Potassium Chloride Extended-Release Tablets USP, 8 mEq (600 mg) and 10 mEq (750 mg) from the United States Food and Drug Administration (USFDA). The drug is a generic equivalent of Upsher-Smith Labs Klor-Con Extended-Release Tablets, 8 mEq and 10 mEq. It is an electrolyte replenisher indicated for the therapeutic use of patients with hypokalemia, with or without metabolic alkalosis; in digitalis intoxication; and in patients with hypokalemic familial periodic paralysis. Klor-Con Extended-Release Tablets, 8 mEq and 10 mEq had annual US sales of $101.3 million as per IMS MAT June 2016 data.

Shares of Lupin had tanked 8.72% in the preceding two trading sessions to settle at Rs 1,545.05 yesterday, 10 August 2016 from its close of Rs 1,692.75 on 8 August 2016, after the companys announcement of Q1 June 2016 results during trading hours on 9 August 2016. Lupins consolidated net profit rose 55.1% to Rs 882 crore on 40% growth in net sales to Rs 4313.60 crore in Q1 June 2016 over Q1 June 2015.

A foreign brokerage has reportedly downgraded shares of the Indian drug maker to sell after the announcement of the first quarter results. The brokerage reportedly said that the competition in top US products will weigh on the companys growth. Lupins key complex products lack visibility of launch. Lupin is likely to post single digit earnings per share growth in the year ending March 2018, it added. Meanwhile, another foreign brokerage reportedly maintained underperform rating on Lupin. It reportedly said that risk-reward ratio is unfavourable for the stock. Q1 has been a peak profit quarter for Lupin. The brokerage cut its estimates on Lupins earnings per share for the year ending March 2017 (FY 2017).

Lupin is a pharmaceutical company producing and developing a wide range of branded & generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally. The company is a significant player in the cardiovascular, diabetology, asthma, pediatric, CNS, GI, anti-infective and NSAID space and holds global leadership positions in the anti-TB segment.

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Lupin inches up after securing final USFDA nod for electrotyte replenisher drug
Aug 11,2016

The announcement was made after market hours yesterday, 10 August 2016.

Meanwhile, the S&P BSE Sensex was down 55.33 points or 0.2% at 27,719.55.

On BSE, so far 17,000 shares were traded in the counter as against average daily volume of 1.40 lakh shares in the past one quarter. The stock hit a high of Rs 1,567.60 and a low of Rs 1,551 so far during the day. The stock had hit a record high of Rs 2,127 on 6 October 2015. The stock had hit a 52-week low of Rs 1,294.05 on 29 March 2016. The stock had underperformed the market over the past one month till 10 August 2016, sliding 5.63% compared with 2.39% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 4.31% as against Sensexs 7.77% rise.

The large-cap company has equity capital of Rs 90.20 crore. Face value per share is Rs 2.

Lupin announced that its US subsidiary Gavis Pharmaceuticals LLC, USA has received final approval for its Potassium Chloride Extended-Release Tablets USP, 8 mEq (600 mg) and 10 mEq (750 mg) from the United States Food and Drug Administration (USFDA). The drug is a generic equivalent of Upsher-Smith Labs Klor-Con Extended-Release Tablets, 8 mEq and 10 mEq. It is an electrotyte replenisher indicated for the therapeutic use of patients with hypokalemia, with or without metabolic alkalosis; in digitalis intoxication; and in patients with hypokalemic familial periodic paralysis. Klor-Con Extended-Release Tablets, 8 mEq and 10 mEq had annual US sales of $101.3 million as per IMS MAT June 2016 data.

Shares of Lupin had tanked 8.72% in the preceding two trading sessions to settle at Rs 1,545.05 yesterday, 10 August 2016 from its close of Rs 1,692.75 on 8 August 2016, after the companys announcement of Q1 June 2016 results during trading hours on 9 August 2016. Lupins consolidated net profit rose 55.1% to Rs 882 crore on 40% growth in net sales to Rs 4313.60 crore in Q1 June 2016 over Q1 June 2015.

A foreign brokerage has reportedly downgraded shares of the Indian drug maker to sell after the announcement of the first quarter results. The brokerage reportedly said that the competition in top US products will weigh on the companys growth. Lupins key complex products lack visibility of launch. Lupin is likely to post single digit earnings per share growth in the year ending March 2018, it added. Meanwhile, another foreign brokerage reportedly maintained underperform rating on Lupin. It reportedly said that risk-reward ratio is unfavourable for the stock. Q1 has been a peak profit quarter for Lupin. The brokerage cut its estimates on Lupins earnings per share for the year ending March 2017 (FY 2017).

Lupin is a pharmaceutical company producing and developing a wide range of branded & generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally. The company is a significant player in the cardiovascular, diabetology, asthma, pediatric, CNS, GI, anti-infective and NSAID space and holds global leadership positions in the anti-TB segment.

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Mangalam Cement gains after commissioning a new cement grinding unit
Aug 10,2016

The announcement was made during market hours today, 10 August 2016.

Meanwhile, the S&P BSE Sensex was down 324.60 points or 1.16% at 27,760.56.

On BSE, so far 15,000 shares were traded in the counter as against average daily volume of 20,000 shares in the past two weeks. The stock hit a high of Rs 321.10 and a low of Rs 309 so far during the day. The stock had hit a 52-week high of Rs 330 on 8 August 2016. The stock had hit a 52-week low of Rs 151.10 on 25 February 2016.

The overall capacity of Mangalam Cement is now enhanced to 4 million ton per annum (MTPA) from 3.25 MTPA.

Mangalam Cement reported net profit of Rs 22.58 crore in the quarter ended 30 June 2016 compared with net loss of Rs 18.91 crore in the quarter ended 30 June 2015. Total income from operations rose 5.51% to Rs 225.17 crore in the quarter ended 30 June 2016 over the quarter ended 30 June 2015.

Mangalam Cement is a cement manufacturing company.

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Mangalam Cement gains after commissioning new cement grinding unit
Aug 10,2016

The announcement was made during market hours today, 10 August 2016.

Meanwhile, the S&P BSE Sensex was down 324.60 points or 1.16% at 27,760.56.

On BSE, so far 15,000 shares were traded in the counter as against average daily volume of 20,000 shares in the past two weeks. The stock hit a high of Rs 321.10 and a low of Rs 309 so far during the day. The stock had hit a 52-week high of Rs 330 on 8 August 2016. The stock had hit a 52-week low of Rs 151.10 on 25 February 2016.

The overall capacity of Mangalam Cement is now enhanced to 4 million ton per annum (MTPA) from 3.25 MTPA.

Mangalam Cement reported net profit of Rs 22.58 crore in the quarter ended 30 June 2016 compared with net loss of Rs 18.91 crore in the quarter ended 30 June 2015. Total income from operations rose 5.51% to Rs 225.17 crore in the quarter ended 30 June 2016 over the quarter ended 30 June 2015.

Mangalam Cement is a cement manufacturing company.

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M&M slides after reporting uninspiring Q1 numbers
Aug 10,2016

The result was announced during market hours today, 10 August 2016.

Meanwhile, the S&P BSE Sensex was down 275.63 points or 0.98% at 27,809.53.

On BSE, so far 3.06 lakh shares were traded in the counter as against average daily volume of 95,075 shares in the past one quarter. The stock was volatile. The stock lost as much as 3% at the days low of Rs 1,436 so far during the day. The stock rose as much as 0.97% at the days high of Rs 1,494.95 so far during the day. The stock had hit a record high of Rs 1,508.80 yesterday, 9 August 2016. The stock had hit a 52-week low of Rs 1,092 on 12 February 2016.

The companys bottom line in Q1 June 2016 was boosted by an exceptional gain of Rs 91 crore from transfer of agri business to a wholly owned subsidiary company. Surge in non-operational income also aided the bottom line growth in Q1 June 2016. Other income jumped 31.89% to Rs 216.83 crore in Q1 June 2016 over Q1 June 2015.

The combined net profit of Mahindra & Mahindra (M&M) and Mahindra Vehicle Manufacturers (MVML) rose 16% to Rs 962 crore on 14% growth in gross revenue plus other income to Rs 11961 crore in Q1 June 2016 over Q1 June 2015. MVML was set up as a 100% subsidiary of M&M with a view to sourcing contemporary products for expanding the market offerings of the company.

M&M said that the double digit growth in domestic sales of tractors witnessed in Q1 June 2016 suggests that a recovery in rural demand is now underway. The company further said that its outlook on domestic growth remains positive even as it recognizes the downside risks currently emanating from major advanced economies.

M&M enjoys a leadership position in tractors and utility vehicles.

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Jubilant Life Sciences jumps over 12% in two sessions
Aug 10,2016

Meanwhile, the BSE Sensex was down 274.99 points, or 0.98%, to 27,810.17.

On BSE, so far 5.93 lakh shares were traded in the counter, compared with average daily volume of 67,295 shares in the past one quarter. The stock hit a high of Rs 380.80 and a low of Rs 353.50 so far during the day. The stock hit a record high of Rs 455 on 7 December 2015. The stock hit a 52-week low of Rs 261 on 8 September 2015. The stock had outperformed the market over the past 30 days till 9 August 2016, rising 8.30% compared with 1.66% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 9.73% as against Sensexs 9.72% rise.

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

Jubilant Life Sciences consolidated net profit rose 22.49% to Rs 161.60 crore on 1.72% decline in net sales to Rs 1400.97 crore in Q1 June 2016 over Q1 June 2015.

The result was announced at the fag end of the trading session yesterday, 9 August 2016. The stock settled 3.61% higher at Rs 341.90 yesterday, 9 August 2016. The stock has risen 12.27% in two sessions from Rs 330 on Monday, 8 August 2016.

Jubilant Life Sciences consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose 13% to Rs 372 crore in Q1 June 2016 over Q1 June 2015. EBITDA margins were reported at 26.2% in Q1 June 2016 compared with 22.7% in Q1 June 2015.

The company said it received payment of $2 million with contingent payment totalling up to $180 million for out-licensing of Novel BET Inhibitors in drug discovery solutions.

The companys chairman, Shyam S Bhartia and co-chairman & managing director, Hari S Bhartia, said that the company started the year ending March 2017 on a positive note delivering strong performance in pharmaceuticals segment which contributed about 70% of the companys operating profit. The company has built a robust long term sustainable business model with the growth engine of pharmaceuticals and drug discovery solutions segments. The company will continue to deliver better performance going forward given the robust product pipeline in place.

The company said it in the year ending March 2017 (FY 2017) it is confident of maintaining the momentum going forward led by key initiatives in its key segments. Revenue and profitability growth in pharmaceuticals segment is expected to be led by new product launches in generics with robust growth in rest of the world (ROW) business, expected launch of ruby-fill and strong pipeline in radiopharmaceuticals and ramp-up of operations in sterile injectables with new customer acquisitions and strong order book. In life science ingredients segment, focus is on generating operating cash by strategic initiatives of retrofitting plants for better capacity utilization with new product introductions and improved margins by cost optimization and better product mix. The company said it will continue to reduce debt through operating cash flow and focus will be on improving key financial ratios. The company said it has achieved net debt reduction of Rs 247 crore in Q1 June 2017 and Rs 368 crore in the year ended March 2016.

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

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M&M drops after announcing Q1 results
Aug 10,2016

The result was announced during market hours today, 10 August 2016.

Meanwhile, the S&P BSE Sensex was down 290.85 points or 1.04% at 27,794.31.

On BSE, so far 2.62 lakh shares were traded in the counter as against average daily volume of 95,075 shares in the past one quarter. The stock was volatile. The stock lost as much as 3% at the days low of Rs 1,436 so far during the day. The stock rose as much as 0.97% at the days high of Rs 1,494.95 so far during the day. The stock had hit a record high of Rs 1,508.80 yesterday, 9 August 2016. The stock had hit a 52-week low of Rs 1,092 on 12 February 2016.

Mahindra & Mahindra (M&M) enjoys a leadership position in tractors and utility vehicles.

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Tata Chemicals spurts after selling urea business
Aug 10,2016

The announcement was made during trading hours today, 10 August 2016.

Meanwhile, the BSE Sensex was down 296.22 points, or 1.05%, to 27,788.94.

On BSE, so far 9.30 lakh shares were traded in the counter, compared with average daily volume of 70,416 shares in the past one quarter. The stock hit a high of Rs 509.30 so far during the day, which is also record high for the counter. The stock hit a low of Rs 456.50 so far during the day. The stock hit a 52-week low of Rs 310.05 on 26 February 2016. The stock had outperformed the market over the past 30 days till 9 August 2016, rising 4.88% compared with 1.66% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 14.10% as against Sensexs 9.72% rise.

The large-cap company has equity capital of Rs 254.76 crore. Face value per share is Rs 10.

Tata Chemicals said that its board approved selling the business of sale and distribution of urea and customized fertilisers, manufactured by the company at its plants located in Babrala, Uttar Pradesh (urea business) by way of a slump sale to Yara Fertilisers India. The lump sum consideration for the transfer of the urea business of the company by way of a slump sale pursuant to the scheme is Rs 2670 crore.

The divestment will unlock value for Tata Chemicals, strengthen its balance sheet and will help to pursue growth potentials and opportunities in line with its strategic directions, the company said in a statement.

This divestment is in line with the strategic direction of Tata Chemicals to continue to strengthen the fertiliser businesses by partnerships and/or transfer of ownership to world class companies. The urea business will now have the benefit of international network of Yara and its global expertise, it added.

Tata Chemicals will continue to own the Paras, TKS and Daksha brands. This transaction does not include specialty products and complex fertilisers, Tata Chemicals said.

Tata Chemicals managing director, R. Mukundan, said that this marks a decisive move on the part of the company to move forward on its strategy to build consumer business while maintaining leadership in inorganic chemicals business and focusing the farm business through its subsidiary Rallis and Metahelix. The company is pleased to have found a strong partner to parent its urea business.

On a consolidated basis, net profit of Tata Chemicals rose 32.34% to Rs 279.65 crore on 8.55% decline in net sales to Rs 3535.51 crore in Q1 June 2016 over Q1 June 2015.

Tata Chemicals is the market leader in Indias branded iodised salt segment. It is currently is the worlds second largest producer of soda ash with manufacturing facilities in Asia, Europe, Africa and North America. It is a leading manufacturer of urea and phosphatic fertilizers and, through its subsidiary Rallis, has a strong position in the crop protection business. The companys Centre for Agri-Solutions and Technology provides advice on farming solutions and crop nutrition practices.

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AstraZeneca Pharma jumps after strong Q1 earnings
Aug 10,2016

The result was announced after market hours yesterday, 9 August 2016.

Meanwhile, the S&P BSE Sensex was down 268.65 points or 0.96% at 27,816.51.

On BSE, so far 36,000 shares were traded in the counter as against average daily volume of 1,356 shares in the past one quarter. The stock hit a high of Rs 1,122 and a low of Rs 1,049.70 so far during the day. The stock had hit a 52-week high of Rs 1,348 on 12 January 2016. The stock had hit a 52-week low of Rs 995.40 on 9 August 2016. The stock had underperformed the market over the past one month till 9 August 2016, sliding 4.91% compared with 3.53% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 11.07% as against Sensexs 9.33% rise.

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

AstraZeneca Pharma India is present in seven crucial areas of healthcare - Cardiovascular, Diabetes, Oncology, Respiratory & Inflammation, Infection, Local Anesthesia and Maternal Healthcare.

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