Thursday, 23 March 2017


Indian state-controlled oil and gas company, BPCL, on Thursday, post market hours announced that the company’s board of directors have declared 2nd special interim dividend of Rs 12 per equity share for the financial year 2016-17.

The company in its filing said that the record date has been fixed to March 27, 2017 for determining the eligibility of its share holders. The stock on the NSE hit a intraday high of Rs 660 and an intraday low of Rs 648.10, closing at Rs 655.80 in Thursday’s trade.

The stock has delivered over 50% returns in a period of one year, outperforming the BSE Oil & Gas index over the same time span.

Bharat Petroleum Corporation Limited is engaged in offering motor spirit (MS), high speed diesel (HSD) and liquefied petroleum gas (LPG). The company is engaged in the business of refining of crude oil and marketing of petroleum products. 

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The proposed sale of the tower division of Reliance Communications’ subsidiary, Reliance Infratel, to Canada-based Brookfield Infrastructure Group, has been approved by the Competition Commission of India.

Reliance Communications informed the Exchange that CCI has given a nod to the sale of the tower division of Reliance Infratel, which is to be carried out pursuant to a demerger of the tower division to Towercom Infrastructure Pvt. Ltd., (Towerco).

Rapid Holdings 2 Pte. Ltd., will acquire 100% of Towercom Infrastructure, upon the completion of the demerger and certain other conditions and approvals. For further approval of the scheme, RCom has already filed an application with NCLT (National Company Law Tribunal). The company to reduce its debts will use the entire sale proceeds.

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Mangal Credit and Fincorp Ltd., has informed BSE that a board meeting is scheduled on March 28, 2017 to consider and approve stock split. The stock split is mainly done in order to improve liquidity of the instrument in the stock market.

The stock has underperformed both BSE Small Cap and Nifty Service Sector indices on a yearly basis. BSE Small-cap index is trading up by 127 points or nearly 1% at 14029 levels. The index opened at 13942.76 levels and touched a high of 14046 levels.

Nifty Service Sector is trading up by over 14 points or 0.17% at 8487 levels. The index opened at 8501 levels, and touched its high at 8512 levels. There are 1104 advances, 491 declines and 329 unchanged stocks on NSE, indicative of a positive sentiment in the market.

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Mining conglomerate, Vedanta Ltd., and Cairn India are surging high, as the quasi-judicial body, National Company Law Tribunal has approved a scheme of arrangement between Vedanta Ltd., and Cairn India.

Vedanta is trading up by 3.05% or Rs 7.95 per share and Cairn India is trading up by 4.17% or Rs 12.15 per share on BSE. Vedanta Ltd.'s stock has outperformed the BSE Sensex and BSE Metal index on a yearly basis.

Cairn India's stock has outperformed the BSE Sensex and BSE Oil & Gas index over the same time period. BSE Metal index is trading up by 101 points or 0.86% at 11804 levels. BSE Oil & Gas index is also trading up by over 141 points or 1.06% at 13414 levels. There are 1114 advances, 480 declines and 329 unchanged stocks on NSE, indicating strong positivity floating in the market.

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BASF India’s stocks in Thursday’s trading session soared nearly 5% on an intraday basis, as the Company announced that its parent company has come to an agreement with Stahl to divest its leather and chemical business to Stahl Group.

BASF SE, Germany is the parent company of BASF India and the transaction is expected to close in the fourth quarter of 2017.

Leather and chemical products will be supplied by BASF India from its manufacturing facilities to Stahl Group under a mid to long-term agreement.

The stock witnessed huge spurt in volumes by more than 2.30 times. It hit an intraday high of Rs 1275; and an intraday low of Rs 1200.

BASF India Limited is engaged in providing chemicals, plastics, performance enhancing products and crop protection products. The company's segments include agricultural solutions, performance products, chemicals, functional materials & solutions among others.

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The IT services company, Trigyn Technologies in Thursday’s trade is locked at upper circuit, and it now stands at Rs 115.20 per share, up by 4.9%. The stock witnessed a huge spurt in volumes of 2.37 times during the trade. The stock during the start of this month for five consecutive days was locked in upper circuit.

It hit an intraday low of Rs 110 per share during the trading session. The stock has underperformed the BSE Small Cap and BSE IT indices, delivering over 72% returns in a period of one year.

In a recent development, the IT firm’s US subsidiary, Trigyn Technologies Inc., made its presence felt significantly in the USA by opening its New York office on March 1, 2017. In total the firm now has three operational offices in the USA.

The company is engaged in computer programming, consultancy and related activities. The company’s segments include government contracts coming mainly from the United Nations and its agencies among others.

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Wednesday, 22 March 2017


After the rally of Dredging Corporation of India for past couple of trading sessions, the stock on Wednesday dropped by 2% on an intraday basis owing to profit booking. The stock hit a high of Rs 696 per share; and a intraday low of Rs 679 per share until 12 pm on Wednesday.

On March 17, 2017, the stock had hit its 52-week high and on March 21, 2016 the stock had hit its 52-week low of Rs 330. The stock has underperformed the BSE Small Cap and Nifty Service Sector indices over a period of one year, posting returns of over 80% in the same time span.

The government as on December 31, 2016 holds 73.47% stake in the company. In the Q3 of 2016 the company has posted net profit of Rs 14.04 crore as compared to net loss of Rs 13.62 crore in Q3 of 2015. While, in Q3 December 2016, the net sales fell 13.7% to Rs 139.39 crore over Q3 December 2015.

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Indiabulls Housing Finance share on Wednesday’s trade tanked 3.6% on intraday basis as the company announced that it has allotted its seventh tranche of redeemable, secured, NCDs of face value Rs 10 lakh each.

The NCDs (non-convertible debentures) amount to Rs 500 crore plus Greenshoe option of Rs 100 crore.

The stock on the NSE in a period of one year has delivered 41% returns and has underperformed the BSE Sensex and Nifty Financial Services indices over the same time period. The stock hit a intraday high of Rs 927.30 and a intraday low of Rs 897.75 on Wednesday's trading session.

Indiabulls Housing Finance is a subsidiary of Indiabulls Financial Services Limited (IBFSL) which is an India-based non-banking financial company (NBFC). The company provides lending and other financial products which also include home loans, loans against property, commercial vehicle loans and commercial credit.

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Sugar manufacturing firm, Mawana Sugars, in Wednesday’s early trade, jumped over 3%, as the company recently announced that the board of directors have agreed to enter into a one time settlement with Punjab National Bank for settling its debts.

The company said that the purpose of the one time settlement (OTS) was for resolution of non-performing assets (NPA) debt. According to Punjab National Bank the sugar firm settled total dues of Rs 109.46 crore for an agreed consolidated amount of Rs 79.79 crore. The amount will be payable without interest over a period of 15 months.

The sugar stock on the NSE has delivered a whopping 275% returns in a period of one year, outperforming the BSE Small Cap and BSE Sensex indices over the same time span.

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Kolkata based public sector unit, United Bank of India’s board of directors have approved the preliminary placement document in connection with the Qualified Institutional Placement (QIP). The bank has set the floor price at Rs 24.44 for its Rs 1500 cr QIP programme.

The QIP opened on March 21, 2017 and closes on March 24, 2017. The board level issue approval committee meeting of the bank for the QIP will be held on March 24, 2017. The board will consider and approve the issue price including discount as permitted under the ICDR regulations for the equity shares to be allotted to QIBs.

Qualified institutional placements allow an Indian listed company to raise funds from domestic investors without submitting any pre-issue filings to market regulator, SEBI.

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