Published on: 4:46 pm
- Anjani Portland Cement Limited informed the exchanges Tuesday that as a result of lock down the production and sales volumes have come down from last week of March 2020 and continued till the resumption as on April 30, 2020 and had been impacted the profit of Q4 and impact of the same will continue to reflect in Profitability of Q1FY21.
- “Though the liquidity position has been impacted but is in the nature of short term and will not impact much on company’s ability to service its any kind of financial arrangements as company is not having debts.
- The supply has been affected due to closure of transport services and non-production and supply of cement during lock down period,” company said. Read More
Published on: 4:43 pm
- Signet Industries Limited informed the exchanges Tuesday that during the lockdown months, the revenues, resources and profitability of the company is adversely affected and it is closely monitoring it and taking every possible steps to manage this situation.
- The liquidity position of the company is also affected due to lockdown, but company is able to maintain its operations. It has taken adhoc and moratorium benefits for some credit facility as announced by RBl, and the company is regularly paying its debts as per due dates. There is no impact on assets of the company.
- Supply chain is affected due to the constraints in raw material and easy transportation and migration of labours due to Covid-l9. The demand was affected due to Covid-I9 pandemic. Read More
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Published on: 4:43 pm
- While addressing the nation, Prime Minister Narendra Modi on Tuesday extended the deadline for availing benefits under the PM Garib Kalyan Yojana scheme (PMGKY). PM extended the scheme's deadline for another five months, by saying, "80cr people will continue to get free foodgrain till November-end."
- Under the scheme, Modi added that every Indian family member will be allowed to avail 5 kilograms of either wheat or rice, while they can get 1-kilogram chickpeas every month.
- Further, he added that the "government will spend more than Rs90,000cr on expanding the scheme. This takes the total cost incurred by the government under PMGKY at Rs1.5 lakh cr". Read More
Published on: 4:24 pm
- The Indian port sector has been adversely impacted due to the Covid-19 outbreak and the subsequent lockdown introduced by India and other major economies. Although, the sector has been classified under essential services and has remained operational during the lockdown, the adverse impact on domestic economic activity as well as slowdown in global trade has resulted in steep contraction in cargo volumes at the major ports. Similar to the 22% decline in April 2020, May 2020 also saw a 22% decline in throughput. While, the decline was across major cargo categories, POL, thermal coal and container segment witnessed significant contraction.
- Ankit Patel, Vice President and Co-Head, ICRA Ratings, mentioned, “The recovery in the port sector will be contingent on the pace of recovery of the domestic industrial activity and the global economy. Further, factors like changes in global supply chain pattern during the recovery phase will also have an impact on the cargo profile. Of late, anti-China sentiment has also been building up momentum, which could also be a headwind for the trade growth. The full year outlook for the sector remains negative, with volume contraction expected in FY2021. The recovery among the cargo segments should be relatively better for essential products like POL and thermal coal, which should be in line with lockdown relaxations and the pick-up in domestic economic activity, while for segments like coking coal and containers the recovery may be long drawn. ICRA expects that while general cargo throughput may witness ~5-8% contraction for full year 2020-21, the container segment may witness a decline of 12-15% during the same period.” Read More
Published on: 4:20 pm
- RITES Ltd. announced its quarterly results on June 30, 2020. The consolidated net sales in Q4FY20 stood at Rs570.7cr, which declined by 22.59% yoy from Rs737.26cr in Q4FY19.
- EBITDA stood at Rs163.56cr in Q4FY20 that decreased by 10.02% yoy. For Q4FY19, it posted EBITDA of Rs181.78cr. EBITDA margin as of Q4FY20 was at 28.66% that increased by 4% yoy against the same quarter, the previous year.
- The consolidated net profit in Q4FY20 came in at Rs143.93cr that declined by 4.29%, as compared to Q4FY19 when it reported Rs150.38cr. The net profit margin in Q4FY20 came in at 25.22% that increased by 4.82% yoy. The net profit margin for Q4FY19 was at 20.4%. Read More
Published on: 4:03 pm
- Minda Industries Limited (MIL) has announced its results for quarter and year ended March 31, 2020. The company has reported a 90% fall in consolidated net profit at Rs7cr in Q4FY20 as against a net profit of Rs73cr in Q4FY19.
- The EBITDA for Q4FY20 has declined to Rs127cr. vis-a-vis Rs185cr, registering a decline of 31% yoy. The EBITDA margin for Q4 FY20 is at 9.48% as against 12.5% in Q4 FY19.
- The EBIDTA for FY20 is Rs626cr as against Rs725cr in FY19. The other expenses were higher in an account of depreciation of key currencies like INR and Mexican Peso especially is last quarter. Read More
Published on: 3:34 pm
- Meghmani Organics Limited’s subsidiary Meghmani Finechem Limited (MFL) has commenced commercial production of additional Caustic Soda plant of 128000 TPA along with Captive power plant of 36 MW in existing Chlor-alkali and derivative complex at Dahej, Bharuch. The production at the newly commissioned plant started from June 20, 2020.
- The caustic soda expansion has been set up at the cost of Rs300cr and Captive Power Plant at Rs150cr. MFL expects that the expansion will add revenue of Rs200cr in current financial year 2020-21 and Rs360cr in the full year of operation in 2021-22.
- With this additional Caustic Soda Capacity, MFL will reach to 294000 MT per annum and Captive power plant to 96 MW. The company feels that this will significantly contribute to reduce the country’s dependence on import. The Chlorine and Hydrogen being Co-Product, after this expansion, its capacity will increase by 110000 TPA and 37 million NM3 per annum respectively. Read More
Published on: 3:34 pm
- The heavy engineering arm of Larsen & Toubro, India’s leading engineering, construction, technology, manufacturing and financial services
- conglomerate, has flagged-off the most complex and final assembly of Cryostat, the largest stainless-steel, high-vacuum pressure chamber in the world. This is an important milestone in the global nuclear fusion arena as well as a moment of pride for the Make in India
- The flag-off ceremony took place in the August virtual presence of Dr. Bernard Bigot, Director-General, ITER Global, Mr. K.N. Vyas, Chairman Atomic Energy Commission, India, Mr. U.K. Baruah, Project Director, ITER-India, Mr. V.K. Saraswat, Member, NITI Aayog, Mr. A.M. Naik, Group Chairman, Mr. S.N. Subrahmanyan, CEO & MD, L&T, Mr. Adil Zainulbhai, Independent Director, L&T, Mr. S.N. Roy, Whole-time Director, L&T and CEO & MD, L&T Power, Mr. M.V. Satish, Whole-time Director & Sr. EVP (Buildings, Minerals & Metals), L&T, Mr. J.D. Patil, Whole-time Director & Sr. EVP (Defence & Smart Technologies), and Mr. A.V. Parab, EVP & Head, L&T Heavy Engineering at L&T’s Hazira Manufacturing Complex. Read More
Published on: 3:33 pm
- Domestic markets witnessed a sharp sell-off in the closing hours of the trade shedding all its opening gains. The Bank Nifty index marginally outperformed, and also the Nifty index, closing on a flat note. On the other hand, the Nifty Pharma index slipped ~1.5% as stocks like Sun Pharma, Dr Reddys, Cipla & Aurobindo Pharma trended lower along with an addition of short positions.
- The Nifty Midcap100 index closed marginally lower, down with ~0.25%. The market breadth ended in favour of the declines with the advance/decline closing at 2:3x. Nifty future saw long unwinding for the second consecutive trading session.
- On the options front (July 02, 2020 expiry), across the board Call option writing was seen in both Nifty and Bank Nifty index as the indices traded with a negative bias. India Vix index closed at 29.8, down 5% Read More
Published on: 3:25 pm
- The benchmark indices Sensex and Nifty were trading on a mixed note during Tuesday's trading session. At around 3.09 pm, the Sensex was trading at 34,905.40 down by 56.12 points or 0.16%. While the Nifty 50 Nifty also witnessed muted demand. The Sensex has touched an intraday high and low of 35,233.91 and 34,812.80 respectively.
- The Indian market performance can be attributed to expectations from the Prime Minister Narendra Modi who is set to address the nation around 4 pm on Tuesday, a day after the centre presented new guidelines for Unlock-2. The Ministry of Home Affairs has extended the nationwide lockdown till July 31, however, relaxed various activities outside the country's containment zones.
- Here's a list of top 5 gainers and losers of the day on Sensex. Read More
Published on: 3:17 pm
- Sinclairs Hotels Ltd annual total income stood at Rs4716.66lac in FY20 compared to Rs4958.31lac in FY19. Its EBIDTA stood at Rs1854.06lac compared to Rs2161.10 lac in last fiscal year. The company announced its quarterly and yearly results on Tuesday.
- The Profit After Tax was marginally lower at Rs948.90lac in FY20 than Rs974.69lac in the previous fiscal year.
- The company was on track for a record year but its operations were severely affected in the last quarter of FY20 on account of the disruptions caused by the Covid 19 pandemic and the subsequent restrictions and lockdowns. Read More
Published on: 3:16 pm
- The Indian government on Tuesday informed about a loan agreement signed with World Bank for helping ow-income groups in the state of Tamil Nadu get access to affordable housing.
- The agreement involves two projects namely - $200mn for First Tamil Nadu Housing Sector Strengthening Programme and $50M for the state's Housing and Habitat Development Project. Read More
Published on: 3:05 pm
- Manorama Industries, one of the leaders in Specialty Butters, Fats and Cocoa Butter Equivalents (CBE) announced its results on 29 June where it announced a yoy revenue increase of 83.83%, EBITA increase of 55.99% and PAT increase of 22.43%. Read More
Published on: 3:05 pm
- The investors tapped Gujarat Gas stock on Tuesday, to an extent that the company soared by nearly 5% with an intraday high of Rs324.35 per piece on Sensex. Investors were upbeat after the company received the approval of Gujarat State Petronet Limited (GSPL) proposal to transfer two of its geographical areas. Read More
Published on: 2:40 pm
- On Monday, the credit rating agency CRISIL released its forecast for India’s tractor sales. It believes that good monsoon has acted as a cushion and showered the sales amid the ongoing pandemic.
- Indian Meteorological Department (IMD) forecasted the south-west monsoon to be at 102% of the long period average (LPA) in the calendar 2020. Read More
Published on: 2:35 pm
- Cera Sanitaryware Ltd. announced its quarterly results on June 30, 2020. The consolidated net sales in Q4FY20 stood at Rs297.85cr, which declined by 28.57% yoy from Rs416.97cr in Q4FY19.
- EBITDA stood at Rs42.31cr in Q4FY20 that declined by 36.35% yoy. For Q4FY19, it posted EBITDA of Rs66.47cr. EBITDA margin as of Q4FY20 was at 14.21% that declined by 1.73% yoy against the same quarter, the previous year. Read More
Published on: 2:34 pm
- The Reliance Capital stock price on Tuesday was unaffected after the company announced that they have delayed in meeting their debt servicing of the interest and principal payment scheduled this week. On Sensex, the stock was trading at an upper circuit of Rs12.72 per piece up by 5% at around 2.33 pm. Read More
Published on: 2:24 pm
- Shares of Tata Power is trading 1% higher on the BSE in the afternoon session. The board of directors of the company will meet on July 2 to consider and approve the proposal for raising funds by way of issue of one or more instruments including equity shares, convertible securities of any description or warrants or debt securities, through preferential issue, private placements, rights issue or any other methods or combination thereof. Read More
Published on: 2:23 pm
- Prime Minister Narendra Modi will be addressing the nation around 4 pm on Tuesday, a day after the centre presented new guidelines for Unlock-2. The Ministry of Home Affairs has extended the nationwide lockdown till July 31, however, relaxed various activities outside the country's containment zones. Read More
Published on: 2:15 pm
- Equity market indices remained strong in the afternoon trade, with the BSE Sensex is trading at 35,117.25 up 155.73 or 0.45%.
- Nifty50 is trading at 10,358.15 up 45.75 or 0.44% and the Nifty Bank is trading up 0.27% at 21,416.15, while Mid-cap Index is up by 0.50%. Read More
Published on: 1:38 pm
- Domestic markets hold on to gains and continue to hover around its day's high. HDFC, ICICI Bank, Maruti and Infosys among top contributor the Sensex gain, while HDFC Bank, Sun Pharma and ITC were laggards in the afternoon session.
- The Sensex is trading at 35,169, up 208 points and Nifty rose 65 points at 10,377. India Vix marginally up by 0.54% at 29.06. Read More
Published on: 1:37 pm
- Vakrangee stock on Sensex was trading in green during Tuesday's session as the company has partnered with the state-owned lender Union Bank of India for providing easy loans to the former's Pan India Nextgen Vakrangeee Kendra franchisees. At around 1.33 pm, the stock was trading at Rs35.45 per piece up by 1.43% on Sensex.
- Under the partnership, both new and existing franchisee would be eligible to avail loans from UBI. Also, the lender is offering a special product for Vakrangeee Kendra franchisee under Union Mudra Scheme. Read More
Published on: 1:26 pm
Published on: 1:15 pm
- BSE Sensex is trading at 35,156.51 or 194.99 or 0.56% while Nifty50 is trading at 10,368.55 up 56.15 or 0.54%.
- The Nifty Bank is trading up 0.49% at 21463.60 while Mid-cap Index is up by 0.47%. Read More
Published on: 1:09 pm
- The telecom service provider Vodafone Idea was trading in red on Dalal Street ahead of its fourth quarter and year-ended March 2020 (Q4FY20) result announcement anytime on Tuesday. The company's stock has plunged by nearly 5% on Sensex as it has touched an intraday low of Rs10.60 per piece in early trade. Read More
Published on: 12:55 pm
- Vakrangee Limited believes that its brand awareness and store awareness has increased significantly during this period of Covid-19 pandemic as its kendras have been open and are providing key essential services in their neighborhoods.
- “We believe we shall emerge as the store of choice for our customers for all their Essential needs. Further, now as the situation improves and unlock 1.0 has begun, we expect our services to normalize over the next couple of months and business growth momentum to improve going forward,” company updated the exchanges on Tuesday. Read More
Published on: 12:49 pm
- The Patanjali Ayurved-backed Ruchi Soya has entered into negative territory since the start of this week's trading session. On Tuesday, the Ruchi stock plunged by 5% trading at a lower price band of Rs1360.40 per piece on Sensex. In the last two days, the stock has dived by 10% on the index.
- A red flag in Ruchi Soya comes after the company's lacklustre March 2020 (Q4FY20) result. Last week, the company presented the financial performance for the fourth quarter and year-ended FY20.
- In Q4FY20, Ruchi logged a standalone net loss of Rs41,25cr compared to a net profit of Rs32.10cr in the corresponding period of the previous year. While the company had recorded a profit of whopping Rs7,617.43cr in the preceding quarter. Read More
Published on: 12:39 pm
- Steel Strips Wheels received new orders for over USD 315K from the US. The company has bagged fresh export orders for Truck & Caravan Trailer Market from the USA.
- The order comprises supplies of close to 14,000 steel wheels to be executed in the month of July and August from its Chennai plant, the company said in a filing to the exchanges.
- Total revenue generated by this additional order would be over 315K USD. Repetitive orders are expected in coming weeks from several other regular customers as the market begins its recovery. This will support further ramping up of production at Chennai steel wheels’ plant, the company said. Read More
Published on: 12:15 pm
- BSE Sensex is trading at 35,080.55 up 119.03 or 0.34% while Nifty50 is trading at 10,346.45 up 34.05 or 0.33%.
- The Nifty Bank is trading up 0.49% at 21464.35 while Mid-cap Index is up by 0.66%.
- Tata Steel, Hindalco, HDFC, ICICI Bank and Maruti are the top gainers, while Gail, Sun Pharma, Vedanta, ONGC and BPCL are the top losers.
- Nifty Auto and Metal drive the trade while Nifty Pharma and Media are struggling the most. Read More
Published on: 12:04 pm
- The Indian rupee opened at 75.48 against the US dollar and touched high at 75.45/$, up 13 paise in the morning trade amid positive domestic equities and weak US currency supported the local unit.
- Currently, the currency is trading at 75.50 against US Dollar, up 7 paise in the noon trade. The local unit had settled at 75.58 against the greenback on Monday.
- Meanwhile, the PM Modi is going to address the nation today at 4 pm. The address would most likely be centred around unlock 2.0 but there is a chance he may outline India's stance on recent Indo-China tensions. Read More
Published on: 11:45 am
- Transport Corporation of India Limited informed the exchanges Monday that the Covid-19 pandemic driven situation has created disruptions in the business operations of one and all.
- Most of its operations in coastal shipping, warehousing and distribution and transportation of essential and nonessentials goods were running during the lockdown period, though with a reduced capacity.
- “We experienced issues arising out of stoppage of production at customers, reduction in demand, restrictions on inter-state and intra-state movement of goods and cargo, shortage of labour and drivers etc. Read More
Published on: 11:38 am
- Axis Bank informed in the stock exchange that a board meeting has been scheduled on July 2, to explore the option of raising funds through various options.
- “The bank said that a meeting of the board of directors of the bank will be held on 2nd July 2020 to explore the option of raising funds by issue of equity shares/ depository receipts and/or any other instruments or securities representing either equity shares and/or convertible securities linked to equity shares including through Qualified Institutions Placement (QIP)/ American Depository Receipts (ADRs)/ Global Depository Receipts (GDRs) program, preferential allotment or such other permissible mode or combinations thereof as may be decided,” Axis Bank said in the filing.
- The stock is currently trading at Rs408.65, up by Rs3.9 or 0.96% from its previous closing of Rs404.75 on the BSE. Read More
Published on: 11:21 am
- Asian stock markets were trading higher in the afternoon trade after China’s official manufacturing Purchasing Manager’s Index (PMI) for June came above expectations.
- According to data released by the country’s National Bureau of Statistics (NBS), China’s official manufacturing PMI for June came in at 50.9. Also, Japan’s industrial production in May dropped 8.4% MoM.
- The Nikkei 225 in Japan rose 1.758%, the Topix index added 1.26%, the Kospi gained 1.61%, the Shanghai Composite up around 0.83% while Hang Seng index advanced 0.89% Read More
Published on: 11:18 am
- SITI Networks Limited, has released its consolidated audited financial results for Q4 and full year FY20, ending March 31, 2020 on Monday. On the back of sustained efforts in FY20, SITI reported continuous growth through operational efficiencies and strict control on expenses across all metrics.
- The Multi-System Operators (MSO) from Essel Group company, SITI’s operating EBITDA for FY20 surged by 1.2x to Rs3,538mn by efficiently leveraging existing operating resources. Its operating EBITDA for Q4FY20 also jumped 2.5% to Rs861mn year on year. Q4FY20 also saw further consolidation in SITI’s Operating EBITDA Margins which grew 1.02X to 21.6% on y-o-y basis. Read More
Published on: 11:15 am
- After a bullish start equity market indices are holding on to early gains.
- BSE Sensex is trading at 35,136.93 up 175.41 or 0.50% while Nifty50 is trading at 10,367.45 up 55.05 or 0.53%.
- The Nifty Bank is trading up 0.70% at 21508.65 while Mid-cap Index is up by 0.94%.
- Tata Steel, Hindalco, HDFC, ICICI Bank and NTPC are the top gainers. Gail, Bajaj Auto, Sun Pharma, ONGC and HDFC Bank are the top losers. Read More
Published on: 11:07 am
- The state-run Coal India (CIL) on Tuesday was trading on a positive note after the company identified 14 additional projects under its first-mile connectivity initiative. Following which, the CIL is expected to invest whopping Rs3,400cr under the platform. On Sensex, the company's stock has gained by nearly 2% by touching an intraday high of Rs137.15 per piece in early deals.
- In a notification, the company said it is replacing road transport of coal from pitheads to despatch points with mechanised systems like conveyer belts to decrease the transportation time, reported by PTI.
- Further, the company introduced 35 projects in the first phase of the initiative, of which reportedly two are operational. Read More
Published on: 10:54 am
- Aditya Birla Fashion and Retail Limited (ABFRL) said in the BSE filing that it will be launching a rights issue at Rs995cr on July 8, 2020.
- Promoter and Promoter Group of ABFRL, to fully subscribe to the extent of their Rights Entitlement and do not intend to renounce such rights, except to the extent of renunciation within the Promoters and Promoter Group; and subscribe to any additional Equity Shares in the Issue, amongst themselves, for ensuring subscription to the extent of at least 90% of the Issue (in case of under-subscription below 90% in the Issue) and such subscription shall be subject to applicable laws, the company said in the filing.
- The stock is currently trading at Rs127.70, up by Rs1.9 or 1.51% from its previous closing of Rs125.80 on the BSE. Read More
Published on: 10:48 am
- Vakrangee Limited informed the bourses after trading hours on Monday that it has entered into a partnership agreement with Union Bank of India (UBI) to provide loan facility for its Pan India Nextgen Vakrangee Kendra franchisees.
- This will see both new and existing franchisees eligible for loans from UBI, which will be offering a special product under Union Mudra Scheme. The bank has sanctioned an outlay of Rs800cr (first tranche) for this purpose.
- The partnership with UBI will help boost convenience for the company’s NextGen Franchisees, who will be provided with easy access to finance. These franchisees will be able to avail term loans for setting up Vakrangee Kendra and also working capital loans at their nearest Union Bank of India branch. This, in turn, is expected to ease the on-boarding process for new franchisees, which is likely to have a positive impact on the company’s revenue and profitability. Read More
Published on: 10:45 am
- Fortis Healthcare Limited informed the exchanges Monday that members of the company by way of postal ballot have approved the appointment of Shailaja Chandra as an Independent Director of the company for a period of five years with effect from June 28, 2020.
- Shailaja Chandra has spent over 15 years in health sector and was a Secretary in the Ministry of Health and Family Welfare, Government of India and later she was appointed as first women Chief Secretary of Delhi. She has been a career civil servant (a member of the Indian Administrative Service,) for 38 years followed by a series of post-retirement assignments carrying executive responsibilities.
- During her long service career in the Central Government, she was posted over three tenures with the Ministries of Defence, Power and Health. At the state level, Ms. Chandra was posted across the country in Maharashtra, Manipur, Goa, Delhi and the Andaman and Nicobar Islands. Read More
Published on: 10:42 am
- After the largest private lender HDFC Bank shrugged off the possibility for raising funds via QIP and ADRs, there is a new buzz in town which states that it may raise up to Rs50,000cr by selling perpetual bonds. On Tuesday, the bank's stock has been trading in red on exchanges.
- According to The Economic Times report, the bank plans to sell perpetual bonds worth up to Rs 50,000cr, with India’s most valued lender seeking its shareholders' approval through an enabling resolution for the capital raising.
- HDFC Bank in a filing to exchanges said, "To issue unsecured perpetual debt instruments (part of additional tier I capital), tier II capital bonds and long-term bonds (financing of infrastructure and affordable housing) on a private placement basis, and in this regard to consider and, if thought fit, to pass the following resolution, as a Special Resolution." Read More
Published on: 10:31 am
- Munjal Showa Limited informed the exchanges Monday that the temporary suspension of manufacturing and the continuing reduced levels of operation are likely to have some financial impact. The company would be able to absorb this.
- The company's manufacturing facilities remained shut from March 23, 2020, due to lockdown and partially reopened from May 8, 2020, which has impacted its operations during the period. Upon restarting of the operations, the company is adhering to the State Government Guidelines.
- “The lockdown and restrictions imposed on various activities due to Covid-19 pandemic, while being a necessary measure to contain its spread, have also posed unprecedented challenges to all businesses and the business operations of the company have been no exception to this. Read More
Published on: 10:29 am
- Investors were trading cautiously in Indian pharma-giant Dr Reddy's Laboratories on Tuesday after the Gilead Science announced the price of their Covid-19 drug Remdesivir in the US market. Dr Reddy's stock, which opened at Rs3983.10 per piece had touched an intraday high of Rs4010 per piece in early deals, however, soon reversed the trend on Sensex.
- At around 10.08 am, the stock was trading at Rs3967.95 per piece down by Rs6.70 or 0.17% on Sensex. The stock has tumbled to an intraday low of Rs3962.15 per piece.
- On Monday, Gilead announced that remdesivir will be available at $2,340 for treatment of Covid-19 patients. However, this price is applicable to those patients who are covered under the government health programmes in the United States and other developed countries. Read More
Published on: 10:15 am
- Equity market indices remain firm after a good start.
- BSE Sensex is trading at 35,166.57 up 205.05 or 0.59% while Nifty50 is trading at 10,376.85 up 64.45 or 0.62%.
- The Nifty Bank is trading up 0.96% at 21563.90 while Mid-cap Index is up by 0.85%. Read More
Published on: 9:55 am
- Interest earned on lending is an asset for banks across India. However, currently, earning interest on existing loans has become difficult due to Coronavirus pandemic which forced a nationwide lockdown and hence impacting incomes across India. Following which, the Reserve Bank of India (RBI) took a step in providing relief to borrowers by announcing loan moratorium. This does gives a helping hand for borrowers, but the same is not the case with lenders. Read More
Published on: 9:35 am
- Shilpa Medicare Limited today launched the Indian branded generic of Axitinib, an tyrosine kinase inhibitor drug with a brand name AXISHIL. This comes after recent successful launches of ’three products in the cancer therapy, Lenvatinib “LENSHIL® Dasatinib “DASASHIL®” and Ibrutinib “IBRUSHIL®” in India Market. Read More
Published on: 9:26 am
- Domestic markets opened on a positive note amid strong global cues. Also, gains in domestic indices were led by banking, auto and metal indices.
- The Sensex was up 265 points at 35,227 and the Nifty rose 83 points to 10,396. The market breadth is in favour of the gainers with 1,113 stocks with gains while 325 are in red on the NSE. Read More
Published on: 9:17 am
- The revenue and profitability of Shreenik Limited is adversely affected. The company in an exchange filing revealed that it faced the liquidity issue due to temporary interruption in realization from the debtors. The company is taking every necessary steps to manage the revenues and profitability.
- There is no material impact of Covid-19 on the carrying amount of company's Property, Plant & Equipments, Inventories, Receivables and other Current Assets. The company is expected to fully recover the carrying amount of its current assets. Read More
Published on: 9:02 am
- The Reserve Bank of India (RBI) has launched special Open Market Operations (OMO) for sale and purchase of government securities in line with the current and evolving liquidity and market conditions. RBI's fresh OMOs are of Rs10,000cr each and will be offered for bidding on July 02, 2020.
- RBI in a notification highlights the following rights reserved by them:
- decide on the quantum of purchase/sale of individual securities.
- accept bids/offers for less than the aggregate amount.
- purchase/sell marginally higher/lower than the aggregate amount due to rounding-off. Read More
Published on: 8:50 am
- There is an urgent need for Covid-19 vaccination as India continues to witness a rapid increase in positive cases, which has further created a setback for the country's citizens and the economy. However, looks like the Covid-19 vaccine may possibly become a reality anytime soon, as the Drug Controller General of India (DCGI) has approved Bharat Biotech's COVAXIN drug which was made in collaboration with the Indian Council of Medical Research (ICMR) and the National Institute of Virology (NIV), for conducting Phase 1 and 2 human trials.
- In a notification on Monday, the company stated that the SARS-CoV-2 strain was isolated in NIV, Pune and transferred to them. Later, the vaccine was developed and manufactured at its home ground Hyderabad's unit namely Bharat Biotech’s BSL-3 (Bio-Safety Level 3) High Containment facility located in Genome Valley. Read More
Published on: 8:32 am
- On Tuesday, gold trades higher on worsened virus fear. Spot Gold was down 0.04% at $1,771 whereas COMEX Gold Future was trading up 0.14% at $1,783 per troy ounce.
- MCX Gold prices moved above the previous swing high on the hourly chart. The hourly RSI is in a bullish crossover. On the lower end, support seen at 48120 while on the higher end, resistance seen at 48530.
- On Tuesday, oil trades lower on increased global supply. West Texas Intermediate (WTI) crude was down 0.63% at $39.45 whereas Brent crude was down 0.43% at $41.67. Read More