Published on: 4:49 pm
- The rating agency, Crisil on Tuesday informed that the merger of two US-based wholly-owned subsidiaries, Greenwich Associates International LLC with Greenwich Associates LLC, has received the approval of the competent authorities and has been completed.
- On December 04, Crisil has announced the merger between Greenwich Associates International LLC with Greenwich Associates LLC.
- Greenwich Associates LLC (“GA LLC”), a leading provider of proprietary benchmarking data and analytics is a wholly-owned subsidiary of CRISIL and parent entity of CRISIL’s Greenwich business. Greenwich Associates International LLC, US and Greenwich Associates UK (Holdings) Ltd are wholly-owned subsidiaries of GA LLC and operate as holding companies for GA LLC’s business operations in UK, Canada, Japan and Singapore. Read More
Published on: 4:46 pm
- Aster DM Healthcare Limited and Cayman Islands Government announced an agreement on Tuesday making the Cayman Islands Aster’s clinical excellence hub for the Western hemisphere, serving the Caribbean Region, North America, Canada, Latin & South America.
- The agreement will see Aster initially develop around 150-bed comprehensive, tertiary and quaternary care hospital, with an opportunity to expand in the future based on need, alongside an assisted living facility and healthcare university in the long-term.
- With this project, Aster aims to replicate its “Medcity” concept which has proven to be highly successful as its flagship facility in Kochi, India. The team leading the project hopes to break ground by mid-2021, with the commencement of the Aster Cayman Medcity - phase 1 construction. Read More
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Published on: 4:31 pm
- The credit rating agency, ICRA, has upgraded its Rating from BBB(-) with “Stable” outlook to BBB(+) with “Stable” outlook on the Long Term Bank Facilities and Non-Convertible Debentures and from “A3” to “A2” for short term facilities of Jindal Steel and Power Limited.
- The ratings are upgraded to [ICRA] BBB (+) with Stable outlook for long term facilities and Non-Convertible Debentures and [ICRA] A2 for short term facilities.
- Jindal Steel & Power ended at Rs259.75 per piece up by Rs6.75 or 2.67% from its previous closing of Rs253 on the BSE. Read more
Published on: 4:10 pm
- In July this year, L&T Finance Holdings had proposed a voluntary wind-up of one of its wholly-owned subsidiaries incorporated in Dubai, UAE.
- The company had been incorporated to carry on the off-shore wealth management business.
- L&T Capital Markets (Middle East) Ltd was subject to the laws of United Arab Emirates.
- Pursuant to a letter from Dubai International Financial Center, the Dubai regulator, effective December 17, 2020 has been dissolved and ceased to exist. LTCM ME was not a material subsidiary of the company.
- L&T Finance Holding ended at Rs85.40 per piece up 0.53% from its previous closing on the BSE. Read More
Published on: 4:06 pm
- Wendt India Limited stocks on Tuesday had a tough day at the Dalal Street after promoters of the company Carborundum Universal Limited and Wendt GmBH decided to withdraw the offer for sale (OFS).
- The company’s share price plunged 10% intraday on Tuesday. It eventually closed at Rs3042.55 down Rs92.65 or 2.96% after showing some recovery in the afternoon, tracking overall market rally.
- “Due to delay in transfer of the sale shares, promoters of the company Carborundum Universal Limited and Wendt GmBH decided to withdraw the notice and accordingly the offer stands withdrawn,” company said.
- The company earlier had announced that Wendt Promoters will sell up to 4.74% stake in company via OFS during December 22-23, floor price set at Rs2,200 per share. Read More
Published on: 3:51 pm
- Ultracab (India) Limited received vendor approvals from various PSUs named Power Grid Corporation of India Limited (PGCIL), IREL (India) Limited, Gujarat Housing Board (GHB), Bilaspur Smart City Limited.
- The company said, "It is proud for us to associate with all such departments and take an opportunity to accomplish great demand of Wires and Cables.
- Further, we have awarded a purchase orders from Hindustan Zinc Limited, Jain Irrigation Systems Limited and Grasim Industries Limited worth approx Rs590.00 lakh."
- Ultracab ended at Rs104.90 per piece up by Rs2.05 or 1.99% up from its previous closing on the BSE. Read More
Published on: 3:49 pm
- The Union Minister for Road Transport and Highways Nitin Gadkari has launched 14 national highway projects in Telangana today thru virtual mode. These projects comprise of 765.663 km long roads worth Rs13,169cr.
- Gadkari informed that a total of 59 road works with approved length of 1918 km and a cost of Rs17,617cr have been sanctioned in Telangana in the last 6 years. From the total, 1,782 km length has already been sanctioned with a cost of Rs15,689cr.
- Gadkari said, almost all of the 33 districts in the State today have connectivity with National Highways.
- Further, the Minister said, there has been a phenomenal growth of 55.71% NH length in the last 6 years in the State. Read More
Published on: 3:42 pm
- Capri Global Capital Ltd (CGCL), a diversified NBFC focusing on MSME lending and housing finance has appointed Raj Kumar Ahuja as its Group Chief Financial Officer. The appointment has come into effect from December 15, 2020.
- A finance professional with nearly 30 years of experience in a multi-product environment of varied industries, Ahuja will be leading the financial operations at CGCL while optimizing the strategic expansion of the business. His wide-ranging knowledge of procurement & commercial, legal, compliance risk, legal, secretarial, audit, strategic and regulatory aspect would contribute to achieving the business goals of the company. He would be based out of the head office in Mumbai, Maharashtra. Read More
Published on: 3:40 pm
- Indian rupee showed some recovery but still ended six paise lower at 73.84 per dollar, amid buying seen in the domestic equity market.
- It opened 18 paise lower at 73.96 per dollar against the previous close of 73.78 and traded in the range of 73.82-73.96 on Tuesday.
- On Monday, the domestic unit closed 21 paise lower at 73.78 per dollar.
- Oil prices tumbled since Monday as a fast-spreading new coronavirus strain that has shut down much of Britain and led to tighter restrictions in Europe sparked worries among investors about a slower recovery in fuel demand.
- Oil benchmark Brent Crude traded at USD 50.16 down USD 0.75 or 1.47% per barrel. Read More
Published on: 3:36 pm
- EPL Limited has redeemed NCDs of Rs50cr and has paid interest on December 21, 2020.
- The company (formerly known as Essel Propack Limited) had issued the privately placed rated, listed, unsecured, Redeemable, non-convertible Debentures, of Rs50cr, 500 units of Rs10,00,000 each, (NCDs).
- The record date for redeeming NCDs and paying interest was on December 6, 2020.
- The company stock ended at Rs248.95 down Rs4.80 or 1.89% on the BSE. Read More
Published on: 3:35 pm
- The Financial Recourse and Management Committee of the Board of Directors of Manappuram Finance Limited at its meeting held on December 22,2020 approved the allotment of 4000 (Four Thousand) Rated, Secured, Redeemable Non-Convertible Debentures having a face value of Rs10 lakh each aggregating to Rs400cr on a Private Placement basis to be listed on the BSE Limited.
- The coupon rate at which the securities will be issued is 7.45%, with the interest payout annually.
- The NCDs will be alloted on December 22, 2020 and will mature on December 23, 2023.
- Manappuram Finance settled at Rs163.15 per piece up by Rs1 or 0.62% on the BSE. Read More
Published on: 3:26 pm
- The government has for the first time laid down Rights to the Electricity Consumers through “Electricity (Rights of Consumers) Rules, 2020”. The Union Minister of State (Independent Charge) for Power and New & Renewable Energy, RK Singh said that these rules shall empower the consumers of electricity and added that these Rules emanate from the conviction that the power systems exist to serve the consumers and the consumers have rights to get the reliable services and quality electricity.
- While issuing these rules on Monday, Singh said that Distribution Companies across the country are monopolies – whether government or private – and the consumer has no alternative – therefore the consumers’ rights needed to be laid down in Rules and a system for enforcement of these rights be put in place.
- The minister expects the new rules to benefit about 30cr existing and prospective consumers in the country. Read More
Published on: 3:25 pm
- Markets witnessed a volatile day of trade with the benchmark index Nifty posting a strong rally during the second half of the trade, recovering nearly 50% of the yesterday’s loses.
- Nifty index outperformed the Bank Nifty index by 0.5% with both the indices closing in the green. Nifty and Bank Nifty index saw short covering during the day.
- Nifty IT index was the biggest outperformer, closing 3.5% higher led by a strong rally in the major heavyweights like Infosys, Tech Mah & HCL Tech.
- Midcap IT stock Coforge surged ~7% higher along with an addition of fresh long position. Market breadth ended in the favour of the advances with the advance/decline ratio closing at 1:1x. Read More
Published on: 3:08 pm
- Oil and gas stocks recovered early losses and were trading on a bullish note during the second half of Tuesday's trading session. The performance comes after when the Centre released crude and natural gas production report for November 2020.
- At around 3.07 pm, BSE Oil & Gas was trading at 13,663.58 up 128.31 points or 0.95%. The index has touched an intraday high and low of 13,785.34 and 13,226.01 respectively.
- On the index, Indraprastha Gas was the top gainer surging by nearly 6% followed by GAIL which advanced by 3%. Petronet LNG had recorded a little over 2% gain. Read More
Published on: 3:01 pm
- Hindustan Foods Limited (HFL), one of India’s largest FMCG contract manufacturer has announced that, the Company will be undertaking a capital expenditure of Rs125cr in the Northern region of India, via its Wholly Owned Subsidiary (‘WOS’), HFL Consumer Products Private Limited.
- In August 2020, the Board of Directors of HFL had approved an investment of up to Rs100cr in HFL Consumer Products Private Limited, for incurring capital expenditure to commence their business.
- The WOS will be setting up a Food & Beverages manufacturing facility for a leading FMCG brand. The work for the said facility will commence from Q4FY21 and commercial production is expected to begin from Q4FY22. Read More
Published on: 2:59 pm
- The India Meteorological Department (IMD) has released ‘End of the Season—Southwest Monsoon 2020’ report, under which the seasonal (June-September) rainfall over the country as a whole was 109% of its Long Period Average (LPA) in 2020.
- This would be the third-highest rainfall after 112% of LPA in 1994 and 110 % of LPA in 2019.
- As per the IMD report, seasonal rainfalls over Northwest India, Central India, South Peninsula and Northeast (NE) India were 84%, 115%, 130% and 106% of their respective LPA.
- On a month-on-month basis, rainfall over the country as a whole was 118% of LPA in June, 90% of LPA in July, 127% of LPA in August, and 104% of LPA in September. Read More
Published on: 2:47 pm
- Banking stocks had a bittersweet trading session on Tuesday, however, the current levels are on a positive note. After touching an intraday low of 28,976.75, the Nifty Bank was trading at 29,613.30, up 156.85 points or 0.53% at around 2.43 pm. The index has climbed to the day's high of 29,707.55.
- Bandhan Bank was the top gainer surging by 5.06%, followed by Federal Bank which soared by 2.15%. Over 1% gain was recorded in SBI stock. ICICI Bank was performing higher by 0.8%.
- Meanwhile, stocks like IDFC First Bank, HDFC Bank, Kotak Bank, RBL Bank and Axis Bank were trading marginally higher. Read More
Published on: 2:41 pm
- Indian Army and Bank of Baroda have entered into a Memorandum of Understanding (MoU) for 'Baroda Military Salary Package'. The MoU was signed by Lt Gen Ravin Khosla, DG(MP&PS) and Shri Vikramaditya Singh Khichi, Executive Director, Bank of Baroda in presence of Lt Gen Harsha Gupta, Adjutant General, Indian Army who also chaired the meeting. The MoU lays down the basis on which banking services would be provided by Bank of Baroda to serving and retired personnel of Indian Army.
- Services under 'Baroda Military Salary Package' will be offered to serving and retired personnel of Indian Army through the Bank's network of over 8,200 domestic branches and around 20,000 business correspondent touchpoints.
- The package offers very attractive benefits including free Personal Accidental Insurance cover, Permanent Total Disability cover, Partial disability Cover and Air Accident Insurance Cover of sizeable amounts, as well as Higher Education Cover and Girl Child Marriage Cover on death in case of serving personnel. Read More
Published on: 2:21 pm
- Auto stocks witnessed a volatile session on Tuesday's trade. Nifty Auto which was the major laggard in the first half has now recovered early losses, however, continues to trade on a flat note.
- At around 2.13 pm, Nifty Auto was trading at 8,764 up 19 points or 0.22%. The index has touched an intraday high and low of 8,835.95 and 8,540.95 respectively.
- On the index, Bharat Forge saw huge selling pressure as the stock emerged as the top underperform tumbling by over 3%. A 2.4% drop was recorded by Ashok Leyland.
- Motherson Sumi and Tata Motors were also in the losers' basket, down by 1% each. Read More
Published on: 2:15 pm
- Equity market indices bounce back in afternoon to become bullish due to rally from IT and Pharma stocks.
- BSE Sensex is trading at 45,850.82 up 296.86 points or 0.65%.
- Nifty50 is trading at 13,424.75 up 96.35 points or 0.72%. Nifty Bank is trading up 0.35% at 29,560.95 while Mid-cap Index is up by 0.62%
- Adani Ports, HCL Tech, Tech Mahindra, Infosys and Bharti Airtel are the top gainers while Tata Motors, Bajaj Finance, ONGC, Hindalco and Grasim are the top losers.
- Nifty IT and Pharma stocks lead the rally, while remaining all other sectoral indices trade in the red.
- Out of 50 stocks traded on the NSE, 35 advanced, 14 declined and 1 unchanged. Read More
Published on: 2:07 pm
- Flipkart, India’s homegrown e-commerce marketplace, announced on Monday the launch of ‘Made-in-India’ Nokia air conditioners - marking the global technology brand’s entry into the home appliances segment. With smart technology and interoperability that monitors climatic conditions, eliminates impurities from the air indoors, and is energy efficient, the air conditioners seek to holistically fulfill customers’ requirements. The range will be priced starting Rs30,999 and will be available on Flipkart from December 29, 2020.
- With people increasingly spending more time at home - healthy air, clement temperatures, seamless smart technology, and customized cooling become vital factors that influence the purchase decisions for consumers. The Nokia range of air conditioners ensures that these consumer needs are met. Read More
Published on: 2:06 pm
- Engineers India has announced the record date for carrying out nearly 6.99cr share buyback plan. The company has set January 01, 2021, as the record date for determining eligible shareholders.
- In its regulatory filing on Monday, the company stated that the board of directors has fixed Friday, 1st January 2021 as Record Date for determining the entitlement and the names of the Eligible Shareholders/ Beneficial Owners to whom the letter of offer will be sent and will be eligible to participate in the buyback.
- The company had announced a buyback of up to 6,98,69,047 equity shares having a face value of Rs5 each.
- These shares represent about 11.06% of the total number of equity shares in the paid-up share capital of the Company from the shareholders. Read More
Published on: 1:55 pm
- United Spirits has informed exchanges that the company has completed the formalities of selling entire stake held in subsidiary Liquidity Inc.
- Consequently, Liquidity Inc. ceases to be a subsidiary of United Spirits.
- The company sold about 51% of the issued share capital of Liquidity, to Plonk!, LLC, which is an existing shareholder in Liquidity.
- At around 1.54 pm, United Spirits was trading at Rs548.50 per piece down by 0.80% on Sensex.
- The stock has touched an intraday high and low of Rs564.10 per piece and Rs544.40 per piece respectively. Read More
Published on: 1:51 pm
- ICRA expects the domestic securitisation volumes (consisting mainly of retail pools originated by non-banking financial companies (NBFC) and housing finance companies (HFC)) to witness a healthy bounce back in FY2022 after witnessing a sharp contraction in the current year so far.The increase in the securitisation volumes for the remainder of the year as well as FY2022 would be supported by key drivers – mainly growing investor confidence in asset quality due to improving collections; higher funding requirement of originators on account of increasing disbursements; and improving business activities post the end of lockdown and moratorium period.
- Says Abhishek Dafria, Vice President and Group Head - Structured Finance Ratings at ICRA, “The collections across all asset classes have bounced back sharply since the dip seen in April 2020 following the nationwide lockdown. The resumption of businesses, as the lockdown has gradually eased, has supported the ability of the retail borrowers to meet their EMI payments. This has reduced investor wariness towards purchase of retail pools that has led to a healthy momentum in fresh securitisation from September 2020 onwards. The financing requirements for NBFCs and HFCs are also expected to increase in FY2022 as disbursements would be closer to the pre-Covid levels which in turn would support securitisation market as a tool to diversify funding sources. Appetite for securitisation of unsecured loans though still remains relatively weak and would only improve if the collection efficiency for such asset classes continues to increase in a sustainable manner.” Read More
Published on: 1:47 pm
- JSW Steel has announced that its subsidiary JSW Steel Italy S.r.l. has signed a share purchase agreement with Industrial Development Corporation(“IDC”), South Africa. The agreement is for the acquisition of 30.73% share capital of GSI Lucchini S.p.A (“GSI”) for a cash consideration of Euro 1 Million.
- IDC is owned by the Government of South Africa under the supervision of the Department of Trade Industry and Competition.
- GSI is a producer of forged steel balls used in grinding mills with predominant application in mining processing. GSI facilities are located within the premises of Piombino plant, providing easy access to export markets through the port of Piombino. Read more
Published on: 1:37 pm
- Kolte-Patil Developers has partnered with Planet Smart City, a UK based proptech company, for the second and final leg of strategic land monetization at Sector R10 in KPDL’s Pune-based township project Life Republic for Rs81.29cr.
- At around 1.30 pm, Kolte-Patil was trading at Rs220.10 per piece up 7.16%. The stock has gained to an intraday high of Rs224.85 per piece on Sensex.
- The Pune-based land measures 4.92 acres which is a portion in Sector R10 and have a residential development potential of 6.8 lakh sq. ft. in terms of saleable area. Read More
Published on: 1:37 pm
- Marine Electricals (India) Limited intimated the exchanges regarding the receipt of an order from Tata Projects Limited.
- The company said that in-addition to existeing order for Design and Supply of Power Distribution Panels, amounting to Rs5.32cr (excluding GST).
- It added that the delivery of the said goods shall be made withing 4 to 5 weeks.
- Marine Electricals was trading 5.35% lower by Rs11.35 at Rs200.95 per piece. Read More
Published on: 1:30 pm
- Asian markets closes broadly in the red as investors worried over new strain of Covid-19 that shutdown much of the UK which is expected to lead a slower economic recovery.
- Japanese Nikkei closed 278.03 points lower or 1.04% at 26,436.39 on Tuesday. Hong Kong's Hang Seng traded 196.31 points or 0.75% lower at 26,110.37. Korean Kospi dropped 44.97 points or 1.62% to end at 2,733.68.
- Shanghai Composite dropped 6.79 points or 1.86% at 3,356.78
- Markets in Jakarta and Taiwan also suffered substantial losses. Read More
Published on: 1:15 pm
- Indices remain bearish despite support from IT and Pharma stocks.
- BSE Sensex is trading at 445,390.39 down 163.57 points or 0.36%.
- Nifty50 is currently trading at 13,272.50 down 55.90 points or 0.42%. Nifty Bank is trading down 0.78% at 29,227.75 while Mid-cap Index is down by 1.22%
- Adani Ports, Power Grid, Bharti Airtel, Tech Mahindra and HCL Tech are the top gainers while Tata Motors, Bajaj Finance, ONGC, HDFC and IndusInd Bank are the top losers.
- Nifty Media, Realty, Auto, Banking and Financial Services struggle the most while IT and Pharma stocks continue to be bullish.
- Out of 50 stocks traded on the NSE, 21 advanced, 28 declined and 1 unchanged. REad More
Published on: 1:12 pm
- The 44th Annual General Meeting of the Company was held on December 22, 2020 wherein the members of Dredging Corporation of India have approved the financial results for the year 2019-20. etc.
- FINANCIAL RESULTS FOR THE YEAR 2019-20
- The Profit after tax of the Company is Rs551 lakh for the year as compared to Rs3,803 lakh for the previous year. The operational income of the Company is Rs74,969 lakh as compared to Rs69,174 lakh for the previous year. The other income is Rs560 lakh as compared to Rs678 lakh for the previous year. The total income for the year is Rs75,529 lakh as compared to Rs69,852 lakh for the previous year. The shareholders in the 44th AGM held on December 22, 2020 approved the above financial results for the year 2019-20. Read More
Published on: 12:59 pm
- Embassy Office Parks REIT, India’s first listed REIT and one of the largest in Asia by area, announced today that it has successfully completed a unit capital raise of Rs36.8 billion ($501 million) through an Institutional Placement of units.
- The Securities Committee of the Board of Directors of Embassy Office Parks Management Services Private Limited (EOPMSPL), Manager to Embassy REIT, approved the issuance and allotment of 111,335,400 new units through this Institutional Placement in a meeting held earlier today, i.e., on December 22, 2020.
- Trading of these units is expected to commence on or around December 24, 2020, on NSE and BSE exchanges. The Institutional Placement launched on December 15, 2020 and witnessed strong demand from both existing as well as new institutional investors, including global and domestic investors, pension funds, insurers, and alternative asset managers. Read More
Published on: 12:58 pm
- IT stocks beat benchmarks and other sectoral indices, emerging as the top performer during Tuesday's trading session. Nifty IT index has gained to an intraday high of 23,193.75.
- While all other sectoral indices are witnessing selling pressure paring pharma stocks, however, IT stocks remain the top picks. Investors fear over new Covid-19 restrictions and economic recovery slowdown as the surge in the infection continues to take a toll and shadows vaccine rollout progress.
- However, investors have found optimism in IT stocks as Nifty IT continues to trade higher despite huge selloffs in the benchmarks Sensex and Nifty. Read More
Published on: 12:46 pm
- Cera Sanitaryware informed the exchanges that its operations have been resumed at its Mehsana plant after a hold on manufacturing earlier this year. The company had in October intimated the exchanges that on account of a group of workers who absented themselves from their regular duties protesting disciplinart action against a few workers. The disruption/strike had been prohibited by the Government of Gujarat and the company expected normalcy soon.
- The temporary and partial disruption at the manufacturing unit located at Kadi Dist., Mehsana. Due to the continued agitation of some workers of the production department, Sanitaryware unit continued to be affected partially even in October, whereas the production of Faucetware unit was not affected.
- The Company has a diversified network of contract manufacturing at different locations and the policy of management of having optimum level of inventory had ensured continuous supply of most of the products as per requirement. Read More
Published on: 12:45 pm
- Nifty Pharma trades higher after falling briefly in a volatile session of Tuesday's early deals. The index opened on a positive note but shunned early gains around noon, tracking weak domestic indices due to fears of restrictions and economic slowdown amid fresh wave of Covid-19 strain.
- The sector has bounced back again to trade higher. At around 12.45 pm, the pharma index was trading at 12,315.15 up 37.00 points or 0.30%. The index has touched a low of 12,020.70 and high of 12,467.95 in the intraday trade.
- Cadila, Divis Lab and Torrent Pharma emerged among the top sectorial gainers. Cadila was performing higher at Rs458.70 per piece up 1.30% while Divis Lab (up 1.10%) and Torrent Pharma (1.07%) also gained substaintially. Read More
Published on: 12:33 pm
- Oracle announced on Monday an increased demand for its second-generation cloud services in the country, as more and more Indian organizations seek to drive a rapid return to growth. Amongst those subscribing to Oracle’s best-in-class cloud applications and cloud infrastructure include Polycab, Religare Broking, Mphasis, Omega Healthcare, Nippon Life India Asset Management, GTPL Hathway, IFFCO, Lipi Data Systems, Infocepts, RXIL and ARCIL.
- Stated reasons for this large-scale migration to Oracle include much better price-performance of Oracle’s second-generation cloud infrastructure vis-à-vis their experience of using cloud services from other technology providers. Oracle’s complete cloud offerings across applications and infrastructure, and its enterprise-grade security and performance offered out of two local Cloud regions in Hyderabad and Mumbai, as well as 29 others worldwide, are also seen as critical by Indian organizations wanting to accelerate their digital journey and future-proof their business. Read More
Published on: 12:15 pm
- Benchmark market indices continue to witness profit booking. BSE Sensex is trading at 45,213.47 down 340.49 points or 0.75%.
- Nifty50 is trading at 13,241.75 down 86.65 or 0.65%. Nifty Bank is trading down 1.18% at 29,109.35 while Mid-cap Index is down by 1.36%
- Tech Mahindra, Bharti Airtel, Power Grid, Adani Ports and HCL Tech are the top gainers while Tata Motors, Bajaj Finance, IndusInd Bank, Maruti and ONGC are the top losers.
- Nifty Media, Realty Banking and Financial Services struggle the most while IT and Pharma stocks trade higher.
- Out of 50 stocks traded on the NSE, 18 advanced, 31 declined and 1 unchanged. Read More
Published on: 12:09 pm
- The Reliance Retail and Future Group deal found favour in the eye of Delhi Hight Court, as the bench announced the merger as valid and has directed market regulator Sebi to approve the scheme as long as it abides with statutory provisions. Currently, the merger between Future Group's retail arms and Reliance Industries (RIL) which is the parent organization of Reliance Retail, has been facing setbacks after Amazon's arbitration matter with Future Retail (FRL).
- RIL on Monday highlighted the Delhi HC's order which said that FRIL Board Resolution approving scheme and sale of the business to Reliance is valid and in accordance with statutory provisions.
- The Delhi HC states that the FRL - Reliance deal is not void as claimed by Amazon. ReadMOre
Published on: 12:04 pm
- South West Pinnacle Exploration Limited has intimated that the company has received an LoA.
- The Letter of Acceptance has been received for the Passive Seismic Tomography (PST) survey in the State of Assam.
- Oil India Limited has signed a contract worth Rs40.66cr or EUR 4,529,280 with the company.
- The contract is expected to be completed by FY 2022-23.
- The company's stock was trading at Rs41.40 per piece up by 1.10% from its previous closing on the BSE, at around 12.15pm. Read More
Published on: 11:58 am
- Nifty Media sank 3% on Tuesday tracking overall benchmarks downside. PVR, Inox Leisure and Zee Entertainment Enterprises Limited were worst hit amid growing concerns about new strain of Coronavirus. Investors fear restrictions and economic recovery slowdown amid the surge in the infection.
- At around 11.58 am, Nifty Media Index was trading at 1,539.05 down 47.80 points or 3.01%. The index has touched a low of 1,517.50 on Tuesday.
- PVR tanked Rs108.30 or 8.11% to trade at Rs1,227.65. PVR on Monday said its board of directors approved the issue of equity shares of the company for an aggregate amount not exceeding Rs800cr. Read More
Published on: 11:30 am
- SMS Pharmaceuticals Limited informed the exchanges Monday that the company has received intimation from M/s Potluri Infra Projects LLP - Promoter Group that intended to acquire 6,61,180 (0.78%) equity shares of the company from TVVSN Murthy (promoter), by way of inter-se transfer on or after December 29, 2020.
- “The above-proposed acquisitions shall qualify as "inter-se transfer" and there will be no change in the aggregate shareholding of the Promoter Group,” company said.
- At around 11.34 am, SMS Pharmaceuticals Ltd was trading at Rs101.70 per piece down by Rs0.05 or 0.05% on the BSE. Read More
Published on: 11:29 am
- Aviation stocks were in hotbed, especially major airlines like SpiceJet and Interglobe Aviation (Indigo), during Tuesday's trading session as India suspends flight operations from and to the United Kingdom amid new strain in Covid-19 cases. However, the suspension is temporary and will be in effect till December 31, 2020.
- Both SpiceJet and Indigo have nosedived by 10% each so far on Sensex after they hit the lower circuit of Rs82.35 per piece and Rs1356.40 per piece in early deals.
- These stocks continue to trade on a bearish note.
- On Monday, the Civil Aviation Minister Hardeep Singh Puri has announced that all flights originating from the U.K into India will be suspended temporarily from 22nd December to 31st December 2020. Read More
Published on: 11:28 am
- Sadbhav Engineering informed the exchanges about the receipt of a new order from GMRC.
- The Gujarat Metro Rail Corporation had estimated Rs805.15cr for a project in the state.
- The company turned out to be the lowest bidder with the bid amount of Rs779.73cr.
- The project is for the "construction of 11.6km elevated viaduct from Kadarsha Ni Nal to Dream City Dead End including Ramp for Depot entry near Dream City and 10 Stations (Excl. E&M, Architectural Finishing and Roofing) for Surat Metro Rail Project Phase - 1, Package -CS1" in the name of SEL-SPSCPL Joint Venture. Read more
Published on: 11:15 am
- Indices fall further as Banking and Financial Services drag.
- BSE Sensex is trading at 45,320.58 down 233.38 points or 0.51%.
- Nifty50 is trading at 113,269.30 down 59.10 points or 0.44%. Nifty Bank is trading down 0.70% at 29,251.10 while Mid-cap Index is down by 0.62%
- GAIL, HCL Tech, Tech Mahindra, Adani Ports and Bharti Airtel are the top gainers while Bajaj Finance, Tata Motors, Maruti, IndusInd Bank and Reliance are the top losers.
- Nifty Media, Banking and Financial Services struggle the most while IT and Pharma stocks trade higher.
- Out of 50 stocks traded on the NSE, 24 advanced and 26 declined. Read More
Published on: 11:13 am
- India’s largest engineering and manufacturing enterprise, Bharat Heavy Electricals Limited (BHEL), has been spearheading the Make in India movement with a special focus on contributing to the AatmaNirbhar Bharat Abhiyan. Towards developing self-reliance in manufacturing, BHEL has taken the lead in reaching out to local industry including MSME (Micro, Small & Medium) vendors as potential partners. As a step in this direction, the company is organising a series of interactive workshops, titled ‘BHEL Samvaad’, under the guidance of the Department of Heavy Industry (DH).
- The first in the series of online workshops on collaborative manufacturing, saw a crosssection of Indian Industries, Industrial houses and MSMEs coming together to dwell upon the next steps for increased cooperation in indigenous manufacturing. The workshop also aimed at fostering better utilisation of assets for development of technologies and products. Read More
Published on: 11:12 am
- Tata Group's automobile flagship, Tata Motors witnessed massive selling pressure on Tuesday's trading session after the company joined the bandwagon of hiking prices. On Sensex, Tata Motors has dipped by 4.86% with an intraday low of Rs156.55 per piece. The company's stock continues to trade in the red.
- In its regulatory filing on Monday, Tata Motors announced that there will be a price increase across its commercial vehicle range, effective January 01, 2021.
- "The steady rise in material and other input costs, impact of forex and transition to BS6 norms, have cumulatively escalated the cost of manufacturing vehicles," Tata Motors said in the statement. Read More
Published on: 10:50 am
- Bombay Rayon Fashions Limited completed business transfer on December 21, 2020 on fulfilment of the required conditions. The company on November 27, 2020, had entered into Business Transfer Agreement (BTA) with BRFL Textiles Private Limited, a subsidiary of the Company (BTPL) for Tarapur Undertaking.
- Upon completion of 'Business Transfer,' the Board of BTPL in its meeting completed the allotment of following securities to the company against the sale consideration: -
- 1) 20,00,00,000 equity shares of Rs10 each;
- 2) 36,00,00,000 series A compulsory convertible preference shares of Rs10 each;
- 3) 6,00,000 non- convertible debentures of Rs1000 each. Read More
Published on: 10:50 am
- V2 Retail Limited informed the exchanges that the credit rating agency ICRA has assigned the retail brand's bank facilities a rating.
- ICRA has rated the company's Cash Credit Facility amounting to Rs50cr at ICRA A-.
- It further added that its bank facilities have been given the outlook of 'Stable'.
- The brand company has recently opened two stores in UP, in Raebareli and Basti, and one in Sundergarh, Odisha.
- V2 Retail Ltd was trading at Rs94.85 per piece down by Rs4.95 or 4.96% from its previous closing of Rs99.80 on the BSE, at around 11am. Read More
Published on: 10:32 am
- Garment Mantra Lifestyle Ltd (Erstwhile Junction Fabrics & Apparels Ltd) updated about acquisition of 83.80% stake in Jannat Fabrics and Apparels Private Limited.
- As a part of the group restructuring exercise, the Company has acquired 83.80% stake in Jannat Fabrics and Apparels Private Limited. The management is expecting to acquire 100% stake in next few months to make it wholly owned subsidiary of Garment Mantra.
- This will help Garment Mantra in running entire textile value chain from supplying yarn / fabric to the mills for Knitting, Dyeing, Printing, Compacting factories and into Retailing as well. Moreover, it will also improve operational efficiency and reduce operational overhead within the group. Read More
Published on: 10:15 am
- Equity market indices trade lower after a positive start.
- BSE Sensex is trading at 45,476.93 down 77.03 points or 0.17%.
- Nifty50 is trading at 13,309.75 down 18.65 points or 0.14%. Nifty Bank is trading down 0.39% at 29,342.40 while Mid-cap Index is down by 0.76% Read More
Published on: 10:12 am
- Indian markets erased an early rally during Tuesday's opening bell and were now trading on a bearish note amid broad-based selloffs, especially in midcap and smallcap stocks.
- Heavyweight stocks also dragged the benchmarks Sensex and Nifty 50.
- At around 09.59 am, Sensex was trading at 45,283.83 down 270.13 points or 0.59%.
- The index gained to the day's high of 45,938.40 in early deals, however, has now even clocked an intraday low of 45,140.79. Read More