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Nalco nudges higher amid OFS by Govt
Apr 20,2017

Meanwhile, the S&P BSE Sensex was up 87.38 points or 0.3% at 29,423.95.

On the BSE, 9.29 lakh shares were traded on the counter so far as against the average daily volumes of 3.96 lakh shares in the past one quarter. The stock had hit a high of Rs 69.75 and a low of Rs 66.80 so far during the day.

The stock had hit a 52-week high of Rs 79.85 on 7 March 2017 and a 52-week low of Rs 40.25 on 20 May 2016. It had underperformed the market over the past one month till 19 April 2017, sliding 8.14% compared with the Sensexs 1.05% fall. The scrip had also underperformed the market over the past one quarter, declining 4.64% as against the Sensexs 7.43% rise.

The large-cap company has equity capital of Rs 966.46 crore. Face value per share is Rs 5.

National Aluminium Companys (Nalco) promoter, the Government of India (GoI) is selling upto 9.66 crore equity shares of the company, representing 5% stake with an additional option to sell up to 5% stake in the company in two trading sessions via offer for sale (OFS). The OFS for non-retail investors completed yesterday, 19 April 2017 and for retail investors and non-retail investors who chose to carry forward their un-allotted bids, the OFS is taking place today, 20 April 2017. The two-day OFS is through a separate, designated window on the stock exchanges.

The GoI held 74.58% stake in Nalco as per the shareholding pattern as on 31 March 2017.

The floor price for the OFS was fixed at Rs 67 per share. Retail investors will be allocated offer shares at a discount of 5% to the cut off price.

On the second day of the bidding for OFS today, 20 April 2017, as at 12:45 IST, bids were received for 2.44 crore shares from the retail investors, representing a subscription of 68.61%. The OFS received good response from non-retail investors category yesterday, 19 April 2017, with an oversubscription of 184.25%.

Shares of Nalco had tumbled 7.76% to settle at Rs 67.75 yesterday, 19 April 2017.

Nalcos net profit declined 2.7% to Rs 143.92 crore on 13.9% growth in net sales to Rs 1963.81 crore in Q3 December 2016 over Q3 December 2015.

State-run Nalco has integrated and diversified operations in mining, metal and power.

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GSFC advances on pact with Congo for chemical complex
Apr 20,2017

The announcement was made after market hours yesterday, 19 April 2017.

Meanwhile, the S&P BSE Sensex was up 85.83 points or 0.29% at 29,422.40. The S&P BSE Mid-Cap index was up 105.36 points or 0.73% at 14,495.62.

On the BSE, 1.60 lakh shares were traded on the counter so far as against the average daily volumes of 2.75 lakh shares in the past one quarter. The stock had hit a high of Rs 120.50 and a low of Rs 118.40 so far during the day.

The stock had hit a record high of Rs 131.70 on 3 April 2017 and a 52-week low of Rs 67 on 3 August 2016. It had underperformed the market over the past one month till 19 April 2017, sliding 5.7% compared with the Sensexs 1.05% fall. The scrip had also underperformed the market over the past one quarter, declining 3.6% as against the Sensexs 7.43% rise.

The mid-cap company has equity capital of Rs 79.70 crore. Face value per share is Rs 2.

Gujarat State Fertilizers & Chemicals (GSFC) said it has executed an in principle agreement (in the form of Non-binding term sheet) with Govt of Republic of Congo (ROC) on 17 April 2017 to evaluate the possibility of establishing a Ammonia-Urea Complex at ROC to enhance the agriculture growth in ROC. It is expected that this project will act as a catalyst for ROC by reducing dependency on imported food for feeding the public of ROC, GSFC said.

Meanwhile, GSFC is one among the 16 stocks to be included in the futures & options (F&O) segment of the National Stock Exchange of India (NSE) with effect from 28 April 2017, as per the circular issued by the NSE yesterday, 19 April 2017.

GSFCs net profit fell 41% to Rs 61.17 crore on 30.8% decline in net sales to Rs 1102.70 crore in Q3 December 2016 over Q3 December 2015.

Gujarat State Fertilizers & Chemicals (GSFC) is engaged in the development of crop nutrition solutions. The company is also engaged in the business of trading pesticides, zinc sulfate, magnesium sulfate, among others.

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Network 18 Media gains after board OKs selling BURRP
Apr 20,2017

The announcement was made after market hours yesterday, 19 April 2017.

Meanwhile, the S&P BSE Sensex was up 72.16 points, or 0.25% to 29,408.73.

On the BSE, 3.35 lakh shares were traded in the counter so far, compared with average daily volumes of 2.29 lakh shares in the past one quarter. The stock had hit a high of Rs 42.90 and a low of Rs 40.45 so far during the day. The stock hit a 52-week high of Rs 49.20 on 29 September 2016. The stock hit a 52-week low of Rs 30.50 on 27 December 2016.

The stock had outperformed the market over the past one month till 19 April 2017, rising 12.08% compared with 0.50% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 11.16% as against Sensexs 7.43% rise.

The mid-cap company has equity capital of Rs 523.47 crore. Face value per share is Rs 5.

The board of directors of Network 18 Media & Investments at its meeting held yesterday, 19 April 2017, evaluated the proposal of restructuring its business of food and restaurant search and recommendation engine operated under the name of BURRP, which has insignIficant contribution to the revenue of the company.

The board has given in-principle approval to sell/transfer/dispose-off or transfer BURRP to any other entity including a related party/getting a strategic investor.

In this regard, the board has authorised certain directors and officers of the company to evaluate the various options and take such further action in the matter, as may be suitable, after complying with necessary regulatory requirements.

On a consolidated basis, Network 18 Media & Investments reported net loss of Rs 33.32 crore in Q4 March 2017 as against net loss of Rs 24.99 crore in Q4 March 2016. Net sales declined 18.08% to Rs 387.67 crore in Q4 March 2017 over Q4 March 2016.

Network18 Media and Investments is a media and entertainment company with interests in television, internet, filmed entertainment, digital business, magazines, mobile content and allied businesses.

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Sun TV jumps after brokerage upgrade
Apr 20,2017

Meanwhile, the S&P BSE Sensex was up 82.17 points, or 0.28% to 29,418.74.

On the BSE, 2.57 lakh shares were traded in the counter so far, compared with average daily volumes of 2.08 lakh shares in the past one quarter. The stock had hit a high of Rs 895.80 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 860.40 so far during the day. The stock hit a 52-week low of Rs 334 on 24 June 2016.

The stock had outperformed the market over the past one month till 19 April 2017, rising 11.48% compared with 0.50% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 59.30% as against Sensexs 7.43% rise.

The large-cap company has equity capital of Rs 197.04 crore. Face value per share is Rs 5.

Sun TV Networks net profit rose 11% to Rs 240.09 crore on 2.8% growth in net sales to Rs 589.43 crore in Q3 December 2016 over Q3 December 2015.

Sun TV Network is one of the largest television broadcasters in India, operating thirty-two TV channels and forty-five FM Radio stations in several Indian languages.

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NTPC drops amid volatility
Apr 20,2017

The announcement was made after market hours yesterday, 19 April 2017.

Meanwhile, the S&P BSE Sensex was up 84.55 points or 0.29% at 29,421.12.

On the BSE, 1.65 lakh shares were traded on the counter so far as against the average daily volumes of 3.46 lakh shares in the past one quarter. The stock had lost 0.91% at the days low of Rs 163.20 so far during the day. It rose 0.18% at the days high of Rs 165 so far during the day.

The stock had hit a 52-week high of Rs 177.80 on 27 January 2017 and a 52-week low of Rs 133.50 on 19 May 2016. It had outperformed the market over the past one month till 19 April 2017, advancing 2.87% compared with the Sensexs 1.05% fall. The scrip had, however, underperformed the market over the past one quarter, sliding 5.37% as against the Sensexs 7.43% rise.

The large-cap company has equity capital of Rs 8245.46 crore. Face value per share is Rs 10.

NTPC said that its board of directors accorded approval for updating and upsizing the $4 billion medium term notes (MTN) programme upto $6 billion for raising debt from international markets to part finance the capital expenditure on new/ongoing projects, coal mining projects, renovation and modernization of power stations and for other permissible end uses.

The board of directors has approved the proposal to issue Notes up to Rs 5000 crore (Rupee denominated bonds) and/or upto $750 million equivalent (foreign currency bonds other than Rupee denominated) in the international markets either under the MTN programme or on standalone basis, in one or more tranches on the terms and conditions as may be agreed with the prospective investor(s) to finance the capital expenditure of new/ongoing projects, coal mining projects, renovation and modernization of power stations and/or for such other purposes as permissible under the ECB guidelines of the RBI.

Shares of NTPC had risen 3.48% in the preceding two trading sessions to settle at Rs 164.70 yesterday, 19 April 2017, from its closing of Rs 159.15 on 17 April 2017.

NTPCs net profit fell 7.5% to Rs 2468.72 crore on 11.1% rise in net sales to Rs 19287.47 crore in Q3 December 2016 over Q3 December 2015.

NTPC, Indias largest power company, has presence in the entire value chain of power generation business. The government of India held 69.75% stake in the firm as on 31 December 2016, as per the shareholding pattern.

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Jay Bharat Maruti spurts after strong Q4 results
Apr 20,2017

The result was announced after market hours yesterday, 19 April 2017.

Meanwhile, the S&P BSE Sensex was up 30.54 points, or 0.10% to 29,367.11.

On the BSE, 1.10 lakh shares were traded in the counter so far, compared with average daily volumes of 15,722 shares in the past one quarter. The stock had hit a high of Rs 506.75 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 466.30 so far during the day. The stock hit a 52-week low of Rs 138.10 on 18 July 2016.

The stock had outperformed the market over the past one month till 19 April 2017, rising 1.47% compared with 0.50% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 24.12% as against Sensexs 7.43% rise.

The small-cap company has equity capital of Rs 10.83 crore. Face value per share is Rs 5.

Jay Bharat Marutis net profit rose 35.1% to Rs 53.77 crore on 17.3% increase in net sales to Rs 1526.63 crore in the year ended March 2017 over the year ended March 2016.

Jay Bharat Maruti is engaged in manufacturing components for automobiles.

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RIL inches up after commissioning ethane plant at Dahej
Apr 20,2017

The announcement was made after market hours yesterday, 19 April 2017.

Meanwhile, the S&P BSE Sensex was up 35.35 points or 0.12% at 29,371.92.

On the BSE, 53,000 shares were traded on the counter so far as against the average daily volumes of 2.05 crore shares in the past one quarter. The stock had hit a high of Rs 1,386.90 and a low of Rs 1,370 so far during the day.

The stock had hit a 52-week high of Rs 1,448.50 on 6 April 2017 and a 52-week low of Rs 925.70 on 23 May 2016. It had outperformed the market over the past one month till 19 April 2017, advancing 5.32% compared with the Sensexs 1.05% fall. The scrip had also outperformed the market over the past one quarter, gaining 32.51% as against the Sensexs 7.43% rise.

The large-cap company has equity capital of Rs 3251.33 crore. Face value per share is Rs 10.

Reliance Industries (RIL) announced the successful and flawless completion of its Ethane project including commissioning of its ethane receipt & handling facilities and ethane cracking at its Dahej manufacturing facility in Gujarat in a record time of less than 3 years.

The Shale gas industry in North America has grown exponentially in the past 5 years. Consequently ethane has become one of the most competitively priced feedstock for US crackers, RIL said.

The supply of Ethane to RILs crackers at Dahej, Hazira and Nagothane will provide feedstock security and flexibility enabling it to select the most optimal feed mix based on market conditions, the company said. This will improve the cost competitiveness of its existing crackers and enable it to optimize the portfolio in a volatile market environment, RIL said in a statement.

RILs consolidated net profit rose 3.6% to Rs 7506 crore on 17.6% growth in net sales to Rs 79408 crore in Q3 December 2016 over Q3 December 2015.

Reliance Industries (RIL) is Indias largest private sector company. RILs activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and telecommunications.

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Kitex Garments jumps on bonus issue plan
Apr 20,2017

The announcement was made after market hours yesterday, 19 April 2017.

Meanwhile, the S&P BSE Sensex was up 38.26 points, or 0.13% to 29,374.83.

On the BSE, 8,806 shares were traded in the counter so far, compared with average daily volumes of 16,640 shares in the past one quarter. The stock had hit a high of Rs 468.65 and a low of Rs 444.80 so far during the day. The stock hit a 52-week high of Rs 543.20 on 4 July 2016. The stock hit a 52-week low of Rs 354 on 22 November 2016.

The stock had outperformed the market over the past one month till 19 April 2017, rising 1.59% compared with 0.50% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 1.05% as against Sensexs 7.43% rise.

The small-cap company has equity capital of Rs 4.75 crore. Face value per share is Re 1.

A meeting of the board of directors of Kitex Garments is scheduled be held on Friday, 28 April 2017, to consider a proposal for issue of bonus shares. The board will also consider audited financial results of the company for the year ended 31 March 2017.

Kitex Garments net profit rose 31.9% to Rs 31.75 crore on 15.9% growth in net sales to Rs 127.47 crore in Q3 December 2016 over Q3 December 2015.

Kitex Garments is a producer of childrens apparel.

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Network 18 Media spurts about 13% in two sessions
Apr 20,2017

Meanwhile, the S&P BSE Sensex was up 53.42 points, or 0.18% to 29,475.81.

On the BSE, 6.92 lakh shares were traded in the counter so far, compared with average daily volumes of 2.39 lakh shares in the past one quarter. The stock had hit a high of Rs 46.25 and a low of Rs 40.80 so far during the day. The stock hit a 52-week high of Rs 49.20 on 29 September 2016. The stock hit a 52-week low of Rs 30.50 on 27 December 2016.

The stock had outperformed the market over the past one month till 20 April 2017, rising 17.99% compared with 0.87% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 17.82% as against Sensexs 8.83% rise.

The mid-cap company has equity capital of Rs 523.47 crore. Face value per share is Rs 5.

The board of directors of Network 18 Media & Investments at its meeting held yesterday, 19 April 2017, evaluated the proposal of restructuring its business of food and restaurant search and recommendation engine operated under the name of BURRP, which has insignIficant contribution to the revenue of the company.

The board has given in-principle approval to sell/transfer/dispose-off or transfer BURRP to any other entity including a related party/getting a strategic investor.

In this regard, the board has authorised certain directors and officers of the company to evaluate the various options and take such further action in the matter, as may be suitable, after complying with necessary regulatory requirements.

The announcement was made after market hours on Wednesday, 19 April 2017. Shares of Network 18 Media & Investments rose 3.22% to end at Rs 41.65 yesterday, 20 April 2017. The stock has risen 12.76% in two trading session from its close of Rs 40.35 on Wednesday, 19 April 2017.

On a consolidated basis, Network 18 Media & Investments reported net loss of Rs 33.32 crore in Q4 March 2017 as against net loss of Rs 24.99 crore in Q4 March 2016. Net sales declined 18.08% to Rs 387.67 crore in Q4 March 2017 over Q4 March 2016.

Network18 Media and Investments is a media and entertainment company with interests in television, internet, filmed entertainment, digital business, magazines, mobile content and allied businesses.

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Nucleus Software jumps on buyback plan
Apr 20,2017

The announcement was made during trading hours today, 20 April 2017.

Meanwhile, the S&P BSE Sensex was up 72.64 points, or 0.25% to 29,409.21.

On the BSE, 33,000 shares were traded in the counter so far, compared with average daily volumes of 19,189 shares in the past one quarter. The stock had hit a high of Rs 279.70 and a low of Rs 261 so far during the day. The stock hit a 52-week high of Rs 303.30 on 9 December 2016. The stock hit a 52-week low of Rs 171 on 29 September 2016.

The stock had outperformed the market over the past one month till 19 April 2017, rising 7.25% compared with 0.50% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 6.87% as against Sensexs 7.43% rise.

The small-cap company has equity capital of Rs 32.38 crore. Face value per share is Rs 10.

A meeting of the board of directors of Nucleus Software Exports will be held on Tuesday, 25 April 2017, to consider the proposal of buyback of fully paid up equity shares of the company, up to such amount of the aggregate of companys paid up equity share capital and free reserves.

On a consolidated basis, Nucleus Software Exports net profit rose 16.37% to Rs 15.92 crore on 2.57% decline in net sales to Rs 93.14 crore in Q3 December 2016 over Q2 September 2016.

Nucleus Software is the leading provider of lending and transaction banking products to the global financial services industry. Its software powers the operations of more than 150 companies in 50 countries, supporting retail banking, corporate banking, cash management, internet banking, automotive finance and other business areas.

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Future Retail jumps after board OKs demerger of home retail ops
Apr 20,2017

The announcement was made during trading hours today, 20 April 2017.

Meanwhile, the S&P BSE Sensex was up 49.77 points, or 0.17% to 29,386.34.

On the BSE, 1.96 lakh shares were traded in the counter so far, compared with average daily volumes of 1.21 lakh shares in the past one quarter. The stock had hit a high of Rs 312.85 so far during the day, which is also record high for the counter. The stock had hit a low of Rs 290.40 so far during the day. The stock hit a record low of Rs 116.10 on 5 December 2016.

The stock had outperformed the market over the past one month till 19 April 2017, rising 15.14% compared with 0.50% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 76.42% as against Sensexs 7.43% rise.

The large-cap company has equity capital of Rs 94.36 crore. Face value per share is Rs 2.

Future Retail announced that its board approved demerging the companys home retail business operated via HomeTown stores into Praxis Home Retail. Post the demerger, the company will list Praxis Home retail on stock exchanges. Praxis Home will issue 1 share to Future Retail shareholders for every 20 shares held, the filing said.

Further, the companys board also approved raising the firms foreign investment limit to 49% from 24%.

Future Retails net profit rose 87.7% to Rs 101.05 crore on 77.4% increase in net sales to Rs 4321.75 crore in Q3 December 2016 over Q3 December 2015.

Future Retail operates hypermarket and home solutions retail formats.

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Yes Bank slips as sticky loans rise in Q4
Apr 20,2017

The result was announced after market hours yesterday, 19 April 2017.

Meanwhile, the S&P BSE Sensex was up 38.06 points or 0.13% at 29,374.63.

On the BSE, 1.76 lakh shares were traded on the counter so far as against the average daily volumes of 1.70 lakh shares in the past one quarter. The stock had hit a high of Rs 1,574.40 and a low of Rs 1,501 so far during the day.

The stock had hit a record high of Rs 1,638 on 13 April 2017 and a 52-week low of Rs 871.45 on 25 April 2016. It had outperformed the market over the past one month till 19 April 2017, advancing 6.46% compared with the Sensexs 1.05% fall. The scrip had also outperformed the market over the past one quarter, gaining 19.17% as against the Sensexs 7.43% rise.

The large-cap bank has equity capital of Rs 456.67 crore. Face value per share is Rs 10.

Yes Banks net profit rose 30.2% to Rs 914.10 crore on 29.4% rise in total income to Rs 5606.38 crore in Q4 March 2017 over Q4 March 2016.

The banks gross non-performing assets (NPAs) rose to Rs 2018.56 crore as on 31 March 2017 as against Rs 1005.85 crore as on 30 December 2016 and Rs 748.98 crore as on 31 March 2016.

The ratio of gross NPAs to gross advances rose to 1.52% as on 31 March 2017 as against 0.85% as on 31 December 2016 and 0.76% as on 31 March 2016. The ratio of net NPAs to net advances stood at 0.81% as on 31 March 2017 as against 0.29% as on 31 December 2016 and 0.29% as on 31 March 2016.

The banks provisions and contingencies (excluding tax provisions) rose 66.11% to Rs 309.73 crore in Q4 March 2017 over Q4 March 2016.

The board of directors of the bank recommended the payment of final dividend Rs 12 per share for the year ended 31 March 2017 (FY 2017).

The board has also approved raising of funds by way of issuance of debt securities including but not limited to non-convertible debentures, MTN (medium term notes), bonds upto Rs 20000 crore (in Rupee or foreign currency) by the bank to eligible investors on private placement, subject to approval of the shareholders.

Yes Bank is one of the leading private sector banks in India.

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Manaksia Inds extends post-result slide
Apr 19,2017

Meanwhile, the S&P BSE Sensex was up 21.53 points or 0.07% at 29,340.63. The S&P BSE Small-Cap index was up 114.29 points or 0.77% at 14,958.40.

On the BSE, 2.33 lakh shares were traded on the counter so far as against the average daily volumes of 20,938 shares in the past one quarter. The stock had hit a high of Rs 36.90 and a low of Rs 33.45 so far during the day.

The stock had hit a record high of Rs 40.95 on 17 April 2017 and a 52-week low of Rs 3.20 on 9 May 2016. It had outperformed the market over the past one month till 18 April 2017, advancing 26.62% compared with the Sensexs 1.11% fall. The scrip had also outperformed the market over the past one quarter, gaining 60.07% as against the Sensexs 7.56% rise.

The small-cap company has equity capital of Rs 6.55 crore. Face value per share is Rs 1.

Shares of Manaksia Industries have fallen 14.23% in three trading sessions from its closing of Rs 39 on 13 April 2017, after the company reported weak Q4 March 2017 results on Saturday, 15 April 2017.

Manaksia Industries consolidated net profit declined 55.8% to Rs 6.30 crore on 80.9% rise in net sales to Rs 60.81 crore in Q4 March 2017 over Q4 March 2016.

Manaksia Industries is engaged in the business of metal packaging products and aluminum semi rigid containers.

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IndusInd Bank turns volatile after Q4 results
Apr 19,2017

The result was announced during trading hours today, 19 April 2017.

Meanwhile, the S&P BSE Sensex was down 30.44 points, or 0.10% to 29,288.66.

On the BSE, 3.31 lakh shares were traded in the counter so far, compared with average daily volumes of 1.40 lakh shares in the past one quarter.

Trading in the counter turned volatile after result announcement. The stock rose 0.79% at the days high of Rs 1,443 in intraday trade. The stock fell 1.23% at the days high of Rs 1414.10 in intraday trade. The stock hit a record high of Rs 1,444.55 on 13 April 2017. The stock hit a 52-week low of Rs 965.65 on 21 April 2016.

The stock had outperformed the market over the past one month till 18 April 2017, rising 3.63% compared with 0.68% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 16.64% as against Sensexs 7.56% rise.

The large-cap private sector bank has equity capital of Rs 598.20 crore. Face value per share is Rs 10.

IndusInd Banks net profit rose 25.43% to Rs 2867.89 crore on 22.47% increase in total income to Rs 18577.16 crore in the year ended March 2017 over the year ended March 2016.

The banks gross non-performing assets (NPAs) stood at Rs 1054.87 crore as on 31 March 2017 as against Rs 971.62 crore as on 30 December 2016 and Rs 776.82 crore as on 31 March 2016.

The ratio of gross NPAs to gross advances stood at 0.93% as on 31 March 2017 as against 0.94% as on 31 December 2016 and 0.87% as on 31 March 2016.

The ratio of net NPAs to net advances stood at 0.39% as on 31 March 2017 as against 0.39% as on 31 December 2016 and 0.36% as on 31 March 2016.

The banks provisions and contingencies (excluding tax provisions) rose 101.32% to Rs 430.13 crore in Q4 March 2017 over Q4 March 2016.

Induslnd Bank caters to the needs of both consumer and corporate customers. As on 31 March 2017, Induslnd Bank has 1200 branches, and 2036 ATMs spread across 683 geographical locations of the country.

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Orchid Pharma rallies 7.21% in two sessions
Apr 19,2017

Meanwhile, the S&P BSE Sensex was down 10.01 points, or 0.03% at 29,329.11. The S&P BSE Small-cap index was up 63.91 points, 0.43% at 14,908.02.

On the BSE, 3.43 lakh shares were traded on the counter so far as against the average daily volumes of 1.99 lakh shares in the past one quarter. The stock had hit a high of Rs 37.90 and a low of Rs 36.75 so far during the day.

The stock had hit a 52-week high of Rs 45.90 on 22 April 2016 and a 52-week low of Rs 23.70 on 22 November 2016. The stock had outperformed the market over the past one month till 18 April 2017, advancing 30.07% compared with the Sensexs 1.11% decline. The scrip had also outperformed the market over the past one quarter advancing 28.02% as against the Sensexs 7.56% rise.

The small-cap company has equity capital of Rs 88.96 crore. Face value per share is Rs 10.

Shares of Orchid Pharma have rallied 7.21% in two trading sessions from its close of Rs 34.70 on 17 April 2017, after the company announced during market hours yesterday, 18 April 2017, that it received the Establishment Inspection Report (EIR) from the United States Food and Drug Administration (USFDA) based on the successful inspection of the formulation manufacturing facility located in Kancheepuram District, Tamil Nadu. The facility was inspected by USFDA in December 2016. The stock had rallied 5.33% to settle at Rs 36.55 yesterday, 18 April 2017.

Separately, Orchid Pharma said that Credit Analysis & Research (CARE) has revised the ratings on the long-term bank facilities of the company to CARE D from CARE B-. It has revised the ratings on the short-term bank facilities of the company to CARE D from CARE A4.

The revision in ratings assigned to the bank facilities of Orchid Pharma takes into account instances of delay in debt servicing. The announcement was made after market hours on Monday, 17 April 2017.

Orchid Pharma reported net loss of Rs 60.98 crore in Q3 December 2016, compared with net loss of Rs 94.02 crore in Q3 December 2015. Net sales declined 13.1% to Rs 177.27 crore in Q3 December 2016 over Q3 December 2015.

Orchid Pharma is a globally recognized, integrated pharmaceutical company with core competencies in the development and manufacture of Active Pharmaceutical Ingredients (APIs) and Finished Dosage Forms as well as in drug discovery.

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