Live market updates

27th Apr, 2021

Wipro achieves AWS Mainframe Migration Competency status

Published on: 5:01 pm

  • Wipro Limited has announced on Tuesday that it has achieved Amazon Web Services (AWS) Mainframe Migration Competency status. This designation recognizes that Wipro has proven solutions, practices, and customer success in migrating both mainframe applications and data to AWS.
  • Recognizing the complexity of a mainframe migration, AWS customers seek proven methodologies, tools, and best practices to empower successful migrations.
  • The AWS Partner Network (APN) plays a critical role in these efforts by providing access to mature technology products and services for customers’ mainframe migrations from AWS Partners with proven solutions and expertise. Read more

SBI board to consider long-term fundraising plan up to $2B for FY22 tomorrow

Published on: 4:55 pm

  • State-owned, State Bank of India (SBI) has announced that the Executive Committee of the Central Board is scheduled to have a meeting on 28th April 2021 to consider a long-term fundraising plan for the financial year FY22.
  • In its regulatory filing, SBI said that the board will, "  examine the status and decide on long term fundraising in single/multiple tranches up to $2 Billion under Reg-S/144A, through a public offer and/or private placement of senior unsecured notes in US Dollar or any other convertible currency during FY 2021 - 22." Read more

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BPCL: Total declares force majeure at Mozambique LNG project

Published on: 4:50 pm

  • State-owned BPCL on Tuesday said that Total E&P Mozambique Area 1 Limitada has informed about the withdrawal of all Mozambique LNG project personnel from the Afungi site.
  • In its regulatory filing today, BPCL said, "considering the evolution of the security situation in the north of the Cabo Delgado province in Mozambique, the Area 1 Operator, Total E&P Mozambique Area 1 Limitada, informed the withdrawal of all Mozambique LNG project personnel from the Afungi site," adding, "this situation leads Total E&P Mozambique Area 1 Limitada, as operator of Mozambique LNG the project, to declare force majeure."
  • BPRL Ventures Mozambique B.V. holds about 10% Participating Interest (PI) in the Area 1 concession. BPRL Ventures is an overseas subsidiary of Bharat PetroResources Ltd (BPRL) which is a wholly-owned subsidiary of BPCL. Read more

Arvind SmartSpaces Board allots 28.50 lakh warrants to Kausalya Realserve

Published on: 4:47 pm

  • Arvind SmartSpaces Limited has informed the Exchange regarding the allotment of warrants.
  • The Board of Directors has approved allotment of 28,50,000 Warrants, each carrying a right to subscribe to one Equity Share per Warrant at a price of Rs. 102.00 per Equity Share, aggregating to Rs. 29,07,00,000/- within a period of 18 months from the date of allotment to Kausalya Realserve LLP wherein Kamal Singal, MD & CEO of Arvind SmartSpaces Limited and his relatives are the partners, on a preferential basis.
  • The stock has touched an intraday high and low of Rs97.05 per piece and Rs95.60 per piece respectively in early trading hours. Read more

RBI warns about inflationary pressures ahead if resurgence in COVID-19 not contained in time

Published on: 4:33 pm

  • The Reserve Bank of India (RBI) said that as India battles the ferocious rise of new infections, a strong policy response is building. In its April 2021 bulletin, RBI states that economic activity in India is holding up against COVID -19’s renewed onslaught.
  • On sector-wise, RBI said that apart from contact-intensive sectors, activity indicators largely remained resilient in March and grew beyond pre-pandemic levels.
  • RBI warns that the resurgence in COVID-19, if not contained in time, risks protracted restrictions and disruptions in supply chains with consequent inflationary pressures. Read more

Australia, Netherlands among others ban travellers from India amid ongoing Covid situation

Published on: 4:23 pm

  • With India still grappled in battling the second wave of the Coronavirus, other countries across the globe have announced travel restriction from the country. Australia and Netherlands would be the latest to temporarily ban direct passenger flights from India.
  • Other countries such as Germany, Italy, Maldives, Bangladesh, Malaysia, UK, UAE, Iran, Canada, Kuwait, Oman, Hong Kong, Saudi Arabia, Singapore, Netherlands and Indonesia have also barred or restricted travellers from India for few days.
  • Australia's Prime Minister Scott Morrison stated that the travel suspension would remain in place until at least May 15 from India. Read more

ICRA reaffirms credit ratings of Jamna Auto Industries; Stock ends higher

Published on: 4:20 pm

  • ICRA Limited has reviewed the credit rating assigned to Jamna Auto Industries Limited and vide its communication dated April 27, 2021, reaffirmed the long-term rating at ICRA AA- and the short-term rating at ICRA A1+.
  • The credit rating assigned to a commercial paper is reaffirmed at ICRA A1+. Outlook on the long-term rating has been revised from Negative to Stable. Read more

Global Education Board declares 15% interim dividend on equity shares

Published on: 4:03 pm

  • Global Education Limited has informed that the Board of Directors of the Company. have considered and declared the Payment of Interim dividend of Rs.1.50/- per Equity Share of face value of, Rs.10/- each i.e 15% on the equity shares in the capital of the Company for the financial year 2020-21.
  • The dividend is duly reviewed, approved and recommended by the Audit Committee of the Company.
  • Accordingly the Record Date for the purpose of the said Interim Dividend has been fixed as Saturday, 8th May 2021. Read more

Infosys positioned as a Leader for System Integrator Capabilities 2021 across AWS, Microsoft Azure,

Published on: 4:00 pm

  • Infosys Limited today announced that it has been positioned as a Leader in the Everest Group System Integrator Capabilities PEAK Matrix Assessment 2021 ratings across AWS, Microsoft Azure, and Google Cloud.
  • Through separate ratings, Everest Group recognized Infosys Cobalt as a core market differentiator among system integrators (SIs) across three major hyperscalers. The report also called out that Infosys’ integrated Cobalt strategy is resonating well in the market for expanding innovation with the cloud community and securing globally dispersed enterprises. Read more

Markets closed higher; Banking stocks outperformed

Published on: 3:37 pm

  • Markets witnessed a positive day of trade as across the board buying frenzy weighed in.  
  • Bank Nifty outperformed the Nifty index by 0.4% with both the indices closing ~1.5%/1.1% higher for the second consecutive trading session.
  • Index heavyweights like Reliance Industries, SBI & HDFC Bank was among the top outperformers, adding fresh long positions during the trade. Read more

Rupee ends higher at 74.66 per dollar

Published on: 3:30 pm

  • Indian rupee ended higher at 74.66 per dollar, amid buying seen in the domestic equity market.
  • The local unit opened higher by 5 paise at 74.67 per dollar against the previous close of 74.72. It traded in the range of 74.51 - 74.73 during intraday trade on Tuesday.
  • The Sensex ended up 557.63 points or 1.15% at 48,944.14, and the Nifty ended up 168.05 points or 1.16% at 14,653.05. Read more

Banco Products (India) appoints Sharan Patel as Whole-time Director for 3 years term

Published on: 3:20 pm

  • Banco Products has announced the appointment of Sharan M Patel as Additional and Whole Time Director (KMP) of the Company for a period of 3  years w.e.f. 22nd April, 2021.
  • Sharan Patel carries a diverse range of experience.working as part of a team within a fast-paced environment, focused on delivering work to a high standard of client satisfaction whilst ensuring profitability and developing operational management mechanisms combining theoretical knowledge and adapting a practical approach in order to achieve maximum efficiency and reduced wastage of resources in multiple automotive manufacturing environment factory set ups. Read more

Atul and Nouryon commences production at joint venture Anaven, to supply fast-growing Indian markets

Published on: 3:20 pm

  • Atul Limited and speciality chemicals company Nouryon has successfully started production at Anaven, a new joint venture in Gujarat, India, that will help meet the rapidly growing demand in India’s agricultural, personal care, and pharmaceutical markets. Anaven LLP which is a joint venture of Nouryon (earlier AkzoNobel) and Atul.
  • Anaven is India’s largest monochloroacetic acid (MCA) production site, with a current capacity of 32,000 tons of MCA per year, with the possibility of a rapid expansion of up to 60,000 tons per year. MCA is used as an essential raw material for a variety of products, such as adhesives, pharmaceuticals and crop protection chemicals. Atul consumes a portion of the MCA directly in its own production of crop protection chemicals. Read more

Nifty Auto gains nearly 1% ahead of major corporate results; Bharat Forge, TVS Motor, Tata Motors le

Published on: 3:00 pm

  • Nifty Auto index held steady amid Tuesday's markets bullish bandwagon. The sector was in focus ahead of major corporate earnings announcement. At around 2.58 pm, the index was trading at 9,708.45 up by 67 points or 0.69%.
  • The index has touched an intraday high and low of 9,733.80 and 9,653.90 respectively.
  • Bharat Forge was the top gainer soaring by 3% followed by TVS Motor surging by 2.3%. Read more

HDFC Life MD Vibha Padalkar: Maintain a cautiously optimistic stance for FY22 given resurgence of Co

Published on: 2:53 pm

  • While talking about the ongoing Covid-19 situation in India, HDFC Life Insurance said that the second wave does appear to be steeper than the first one. The insurer is hopeful that its impact on public health and the economy would be curtailed by a speedy vaccination drive and discipline observed by our fellow citizens.
  • "Once the second wave subsides and significant parts of our country are vaccinated, we believe that pent-up demand would lift economic and commercial activity," HDFC Life added.
  • On its business, HDFC Life said, "We are working closely with our partners and re-insurers to ensure prompt service and claim resolution. Over the course of the year, we have settled over 2.9 lakh death claims resulting in payouts in excess Rs3,000 cr. Despite logistical challenges through the year, we insured close to 40 million lives in FY21." Read more

Benares Hotels net profit declines to Rs1cr during Q4

Published on: 2:40 pm

  • Benares Hotels, a subsidiary of The Indian Hotels Company Limited (IHCL), reported a net profit of Rs1cr for the fourth quarter ending March 2021 (Q4FY21) period, declining against Rs4.3cr a year ago same period.
  • The company posted revenue of Rs11.1cr in Q4FY21 against Rs19.5cr in the corresponding period of the previous year.
  • Dr Anant Narain Singh, Chairman, Benares Hotels Limited (BHL) said, “Despite challenging market conditions the hotels have shown an increase in occupancies month on month in this quarter. The company reported a 13% increase in revenue and a 29% increase in EBITDA for Q4 Vis-a -Vis Q3 FY 20-21.” Read more

Shilpa Medicare's US-based subsidiary files lawsuit against Novartis Pharma for patent infringement

Published on: 2:31 pm

  • Shilpa Medicare has announced that its US operating company, Shilpa Pharma filed a patent infringement lawsuit against Novartis Pharmaceutical Corporation in the United States District Court for the District of Delaware seeking relief for the infringement of the US Patent entitled "Fingolimod Polymorph and Their Processes".
  • Shilpa Medicare said, "Shilpa invest heavily in R&D as we want to provide the patients with the best affordable pharmaceutical solutions, which resulted in more than 466 patent applications worldwide including 70 patent applications of which 30 patents have been granted in the United States alone." Read more

Market pulse at 2:30 PM today

Published on: 2:30 pm

  • Indices are at day’s high (1.07% higher) as banking stocks surge to follow upbeat metal stocks.
  • BSE Sensex is currently trading 48,902.67 up 516.16 points or 1.07%.
  • Nifty50 is currently trading at 14,639.95 up 154.95 points or 1.07%. Nifty Bank is trading up 1.30% at 32,695.00 while Mid-cap Index is up by 1.29%. Read more

Sagar Cements board approves merger of subsidiary Sagar Cements (R) with the company

Published on: 2:25 pm

Sagar Cements board of directors have approved the proposal of the merger of its wholly-owned subsidiary Sagar Cements (R) Ltd with it. The subsidiary has cement manufacturing and power generation facilities at Gudipadu village, Yadiki Mandal, Ananthapur District, Andhra Pradesh.

The benefits derived from the merger include:

1. Enhancement in the scale of operations providing a significant impetus to the growth of the Company, since both the companies are engaged in the same line of business. These may be derived by drawing upon synergies between the two companies - Read more

Saregama India Board approves 10,000 grant of options; Stock gains 1%

Published on: 2:12 pm

  • Saregama India Ltd has informed that the Board of Directors approved grant of 10,000 Options to certain employees of the Company exercisable into not more than 10,000 fully paid up equity shares of Rs.10 each of the Company.
  • The Exercise Price is Rs. 1,750.40/- and the exercise period is 10 years from the date of vesting.
  • Vesting of Options is subject to overall minimum vesting period of one year and exercise period is 10 years from the date of vesting. Read more

Asian stocks close mixed ahead of US Fed meet

Published on: 2:10 pm

  • Asian stock markets closed mixed on Tuesday as investors looked ahead to this week’s Federal Reserve meeting for assurance interest rates will be kept ultra-low.
  • Overnight, US stocks closed mixed as Dow Jones lost 60 points while Nasdaq gained almost 1% to close near all-time highs. Bond yields rose marginally to 1.56% even as oil prices see weakness with slowdown in consumption in India & China.
  • Asian markets opened mixed on Tuesday with profit booking seen across the board in most markets after a steller run up last week. The Japanese Nikkei has been lagging the Asian peer markets and continues to see consolidation while the Taiwan markets take off to hit new all-time highs. Read more

Bank Nifty tops 415 pts after RBI issues guidelines for tenure CEOs, MDs; HDFC Bank, ICICI Bank, SBI

Published on: 2:05 pm

  • Bank Nifty gained momentum after a lacklustre opening on Tuesday after the Reserve Bank of India (RBI) issued guidelines on the governance for banks, including private banks, Small Finance Banks (SFBs), Wholly Owned Subsidiaries of Foreign Banks. Bank Nifty has outperformed the benchmark Nifty 50 as heavyweight stocks such as HDFC Bank, ICICI Bank and SBI rallies.
  • At around 2.03 pm, Bank Nifty was trading at 32,694.30 up by 419.15 points or 1.30%. The index has touched an intraday high of 32,701.30.
  • AU Small Finance Bank and HDFC Bank were the top gainers on the index soaring by 2.7% and 2.4% respectively. IDFC First Bank and Bandhan Bank jumped by 1.9% each. Read more

Nifty IT index trade higher; Oracle, Coforge shine

Published on: 1:50 pm

  • Nifty IT shares traded in the green amid overall bullish markets. The Index held on to early gains amidst subdued trade in the sector. The Index has faced mixed bag in recent times amid rising Covid-19 cases in India and progress in roll out of vaccines to prevent the disease.
  • Oracle Financial Services Software Limited surged ~3% while Coforge was also bullish to lift the performance of the sector. Mphasis shed nearly 1% to drag while Larsen & Turbo Infotech also struggled.
  • At around 1.50 pm, Nifty IT was trading at 25,769.15 up 88.85 points or 0.35%, touching a high of 25,871.45 and low of 25,686.95 during intraday trade on Tuesday. Read More

Market pulse at 1:30 PM today

Published on: 1:30 pm

  • BSE Sensex is currently trading 48,740.58 up 354.07 points or 0.73%.
  • Nifty50 is currently trading at 14,592.90 up 107.90 points or 0.74%. Nifty Bank is trading up 0.89% at 32,560.95 while Mid-cap Index is up by 0.95%.
  • Hindalco, Larsen & Turbo, Adani Ports, Tata Steel, and Reliance are the top gainers while HDFC Life, SBI Life, Kotak Bank, Dr. Reddy’s, and Cipla are the top losers. Read more

Biden conveys solidarity with India, affirms US determined to support in Covid vaccine raw materials

Published on: 1:20 pm

  • Prime Minister Narendra Modi in a telephonic conversation with US President Joe Biden, discussed the ongoing Covid-19 situation in their respective countries including India’s ongoing efforts to contain the second wave of the infection through expedited vaccination efforts and ensuring supply of critical medicines, therapeutics and healthcare equipment.
  • President Biden conveyed solidarity with India. He further affirmed that the United States was determined to support India’s efforts by quickly deploying resources such as therapeutics, ventilators and identifying sources of raw materials to be made available for the manufacture of Covishield vaccines. Read More

Goldiam International zooms 5% after receiving export orders worth Rs70cr

Published on: 1:14 pm

  • Goldiam International Ltd has informed the Exchange regarding the work order received by the Company on Tuesday.
  • The Company announced that Goldiam Group has received confirmed additional export orders worth Rs70cr from its International clients for manufacturing of diamond studded designed gold jewellery.
  • The aforesaid order will be delivered within coming 100 days.
  • With this additional order, Goldiam Group's order book crosses aggregate of Rs150cr as on date. Read more

Nifty FMCG holds steady; Varun Beverages, Emami lead the gains

Published on: 1:10 pm

  • Nifty FMCG index was trading higher, tracking the overall bullish market. The gains however were subdued as the investors seemed cautious due to the ongoing Covid-19 surge and quarterly earnings announcements.
  • The Index gained over 60 points with Varun Beverages and Emami leading the charge. At around 1.10 pm, Nifty FMCG was trading at 33,930.60 up 64.90 points or 0.19%, after touching a high of 34,028.00 and low of 33,888.35 during intraday trade on Tuesday.
  • Varun Beverages surged 2.55% at Rs922.00 per piece on Tuesday. Emami was 1.78% higher at Rs505.90 per piece. Read more

Nifty Metal outperforms by 2% as Copper prices hit 10-year high amid strong demand; NALCO, Hindalco

Published on: 1:00 pm

  • Metal company stocks extended their gaining spree on Tuesday as base metal prices globally cruised higher. A host of factors such as concerns over supplies from Chile, declining inventories, strong demand from top consumer China and lower dollar has activated fresh buying in metal stocks.
  • In Chile, mining unions hinted at a protest if the government does not block early pensions withdrawal. Meanwhile, port workers have also decided on a general strike. Read more

DRDO develops single crystal blades for helicopter engine application

Published on: 12:52 pm

  • Defence Research and Development Organisation (DRDO) has developed single crystal blades technology and supplied 60 of these blades to Hindustan Aeronautics Limited (HAL) as part of their indigenous helicopter development program for helicopter engine application.
  • It is part of a program taken up by Defence Metallurgical Research Laboratory (DMRL), a premium laboratory of DRDO, to develop five sets (300 in number) of single crystal high pressure turbine (HPT) blades using a nickel-based super alloy. The supply of remaining four sets will be completed in due course. Read more

RKEC Projects receives work order of Rs134cr; Stock skyrockets 15%

Published on: 12:40 pm

  • RKEC Projects Limited has received a work order valued at Rs134cr for dredging work, breakwater, and construction of quays for the fishing harbour at Uppada in Andhra Pradesh. The work has to completed within 22 months from the date of the award.
  • We have been awarded a work order for the construction of fishing harbours at Juvvaladinne in Nellore District, Nizampatnam in Guntur Disrict, Machilipatnam in Krishna District and Udappa in East Godavari District in Andhra Pradesh.
  • The company stocks was in demand on Tuesday and at around 12. 42 pm, it was trading at Rs65.50 per piece up Rs8.75 or 15.42% on the NSE. Read More

Market pulse at 12:30 PM today

Published on: 12:30 pm

  • Benchmark market indices rise further on surge in metal and banking stocks.
  • BSE Sensex is currently trading 48,809.11 up 422.6 points or 0.87%.
  • Nifty50 is currently trading at 14,608.80 up 123.80 points or 0.85%. Nifty Bank is trading up 0.91% at 32,568.45 while Mid-cap Index is up by 1.01%.
  • Hindalco, Adani Ports, Larsen & Turbo, Tata Steel and Reliance are the top gainers while HDFC Life, Tech Mahindra, Kotak Bank, SBI Life, Nestle India and NTPC are the top losers.
  • Nifty Metal and PSU Bank stocks (over 2% higher) drive trade on Tuesday. Bankign stocks also recover. Nifty Pharma stocks trade flat.
  • Out of 50 stocks traded on the NSE, 38 advanced and 12 declined. Read More

HDFC Life's net premium income rises 23% yoy to Rs12,868cr in Q4, PAT jumps to Rs318cr

Published on: 12:24 pm

  • Mumbai-based long-term life insurance provider, HDFC Life Insurance has recorded a 2% growth in its net profit to Rs317.94cr for the quarter ending March 2021 (Q4FY21). The insurer has posted a net profit of Rs311.71cr in the same quarter a year ago.
  • Notably, HDFC Life's top-line front was robust. The insurer recorded a whopping 23% growth in net premium income to Rs12,868.01cr in Q4FY21 against Rs10,464cr in the corresponding period of the previous year. Read More

James Gerard Ryan joined as President at Suprajit Engineering management team

Published on: 12:22 pm

  • Suprajit Engineering Limited has announced an addition into the senior Management team of the Company.
  • James Gerard Ryan (Jim Ryan) has joined as “President – Controls & Cables Global Operations (Except India)”.
  • Jim is an US national and a seasoned professional with rich experience in the Controls and Cables space. He has been in executive and general management roles within a global manufacturing environment, with a proven record of providing impactful results to overall business performance and development. Read More

Kirloskar Brothers operations at Kirloskarvadi plant affected due to Covid-19 surge

Published on: 12:11 pm

  • Kirloskar Brothers Limited operations at the Kirloskarvadi plant in Maharashtra are partially affected due to supply chain issues and absenteeism of staff and workers.
  • “The materiality of the disruption due to these force majeure events cannot be assessed at this time. The company is closely monitoring the situation and will take requisite steps in accordance with the directions issued by the State Government including local authorities, from time to time. Read more

Tech Mahindra posts Rs1,081cr profit in Q4, constant currency revenue growth at 0.7% sequentially

Published on: 11:57 am

  • Tech Mahindra registered a consolidated net profit of Rs1,081.4cr for the quarter ending March 2021 (Q4FY21) period, declining by 17.4% from a profit of Rs1,309cr posted in the preceding quarter. Consolidated revenue grew marginally 0.9% to Rs9,729.9cr in the quarter under review against Rs9,647.1cr of December 2020 quarter.
  • In the fourth quarter, in dollar terms, Tech Mahindra's revenue stood at $1,329.6M rising by 1.6% QoQ and 2.7% YoY. Meanwhile, Revenue growth at 0.7% QoQ in constant currency terms. Further, EBITDA was at $266.1M up 3.5% QoQ and 45.6% YoY. Read More

Akash Infra receives work order of Rs9.37cr from R&B, Mehsana

Published on: 11:50 am

  • Akash InfraProjects Limited has received a work order on April 26, 2021 from the Office of the Executive Engineer, Mehsana (R&B) Division of Rs9.37cr for resurfacing of different roads.
  • The resurfacing of following roads under R&B Sub Dn. Mehsana Package:- 4 Dist. Mehsana has to be done:
  • (1) Gokalgadh approach road 0/000 to 0/930 KM
  • (2) Mitha -Gamanpura Road Km. 0/00 to 2/00 Km
  • (3) Modipur-Ambasan road 0/000 km to 3/440 Km Read more

JSPL to divest 96.42% stake in Jindal Power to Worldone for Rs3,015cr

Published on: 11:46 am

  • Jindal Steel & Power Limited has announced that the company has accepted a binding offer from Worldone Private Limited ("Acquirer"), to divest its 96.42% stake in Jindal Power Limited ("JPL"), a material subsidiary of the Company.
  • The divestment is in line with JSPL’s strategic objective to continuously reduce its debt, focus on its India Steel business and significantly reduce its carbon footprint by almost half as part of its ESG objectives. The equity value is an all-cash offer of Rs3,015cr for 96.42% stake in JPL including 3,400 MW Coal fired power plants in State of Chhattisgarh and other non-core assets owned by JPL. Read more

Market pulse at 11:30 AM today

Published on: 11:30 am

  • Indices capitalize on early gains to further higher.
  • BSE Sensex is currently trading 48,702.50 up 315.99 points or 0.65%.
  • Nifty50 is currently trading at 14,578.60 up 237.25 points or 0.65%. Nifty Bank is trading up 0.69% at 32,497.70 while Mid-cap Index is up by 0.85%.
  • Hindalco, Adani Ports, Tata Steel, Larsen & Turbo, and Reliance are the top gainers while HDFC Life, Tech Mahindra, SBI Life, Axis Bank, and Kotak Bank are the top losers.
  • Nifty Metal and PSU Bank stocks drive an all positive trade on Tuesday.
  • Out of 50 stocks traded on the NSE, 37 advanced and 13 declined. Read More

Nifty Pharma joins markets bullish bandwagon, index surges; Divi's Lab, Lupin, Cipla lift the perfor

Published on: 11:24 am

  • After the bearish tone in previous trading session, Nifty Pharma joins the bull bandwagon on Tuesday. The government's announcement to open up vaccination for all above 18 from 1st May steps in the right direction for market perspective.
  • Somehow, the Index been under some pressure amidst rising Covid-19 cases in India resulting in restrictions in certain States.
  • 23 states in India have announced that they will offer free vaccines to all those who are eligible for vaccination. States like Maharashtra, Karnataka, Kerala, Rajasthan, Gujarat, Chhattisgarh, Delhi, are on the list. The free vaccination will be available at government hospitals in all these states only. They will not be free in private hospitals. Read More

Castrol's net profit nearly doubles to Rs244cr in Q1, revenue robust; Stock surges 3%

Published on: 11:23 am

  • Castrol India reported a strong financial performance for the quarter ending March 2021 (Q12021) period. The company posted a net profit of Rs243.6cr in the latest quarter, nearly double from Rs125.2cr in the corresponding period of the previous year. In December 2020 quarter, Castrol recorded a profit of Rs187.7cr.
  • Also, the top-line witnessed healthy growth. Revenue from operations stood at Rs1,138.7cr in the quarter under review against Rs688cr of Q12020 and Rs935.2cr of Q42020. Read More

NCLT Mumbai sanctions merger of Mahindra Vehicle Manufacturers with M&M

Published on: 11:17 am

  • Mahindra & Mahindra Limited informed the exchanges that National Company Law Tribunal, Mumbai Bench (NCLT) has sanctioned the Scheme of Merger by absorption of Mahindra Vehicle Manufacturers Limited (MVML) with Mahindra and Mahindra Limited (M&M) and their respective Shareholders.
  • “Mumbai bench NCLT, on the basis of its hearing held on April 7, 2021 and Pronouncement of Order on April 26, 2021, approved the Scheme of Merger by Absorption of Mahindra Vehicle Manufacturers Limited (MVML) with Mahindra and Mahindra Limited (M&M) and their respective Shareholders,” company said.
  • At around 11.20 am, Mahindra & Mahindra Ltd was trading at Rs778.75 per piece down by Rs1.7 or 0.22% on the BSE. Read More

Coforge allots NCBs worth Rs340cr on private placement basis

Published on: 11:01 am

  • Coforge Limited has allotted up to 3400 unsecured, listed, rated, redeemable NonConvertible Bonds (NCBs) of the face value of Rs10 lakh each aggregating up to Rs340cr on a private placement basis.
  • “The NCBs are proposed to be listed on the Wholesale Debt Market (WDM) Segment of BSE Limited,” the company said in a regulatory filing on Monday.
  • At around 11.06 am, Coforge Limited was trading at Rs2794.25 down Rs12.65 or 0.45% on the BSE. Read More

RIL stock soars 2% on starting production from Satellite Cluster gas field in KG D6 block with bp

Published on: 10:41 am

  • Reliance Industries (RIL) continued its winning streak on Tuesday's trading session after the Mukesh Ambani-led company along with bp announced the start of production from the Satellite Cluster gas field in block KG D6 off the east coast of India.
  • At around 10.36 am, RIL is trading at Rs1972.10 per piece higher by Rs34.65 or 1.8% on Sensex. The stock was trading near the day's high of Rs1978.70 per piece.
  • At the current market price, RIL's market capitalisation was around Rs12.50 lakh cr. Read More

IDFC Mutual Fund reduces its shareholding by over 2% in Mastek

Published on: 10:40 am

  • Mastek Limited informed the exchanges that the company has received disclosure from IDFC Asset Management Company Limited (Investment Manager of IDFC Mutual Fund) where IDFC Mutual Fund through its schemes IDFC Core Equity Fund & IDFC Tax Advantage (ELSS) has sold 11,667 and 6,423 equity shares respectively of the company on April 22, 2021.
  • After this sale of shares IDFC Mutual Fund’s shareholding has decreased by more than 2% of paid up capital of the company, i.e. from 5.1395% (the last reported holding) to 3.0869%.
  • At around 10.42 am, Mastek Ltd was trading at Rs1,480 per piece up by Rs38.1 or 2.64% from its previous closing of Rs1,441.90 per piece on the BSE. Read More

ICRA reaffirms credit ratings of Sakthi Finance with stable outlook

Published on: 10:36 am

  • ICRA, the credit rating agency has reaffirmed/assigned the ratings of Sakthi Finance Ltd.
  • Non-Convertible Debentures and  long term loans has been reaffirmed/assigned at [ICRA]BBB with Stable outlook.
  • Short term bank facilities has also been reaffirmed to [ICRA]A2. Read More

Market pulse at 10:30 AM today

Published on: 10:30 am

  • Equity market indices led by metal stocks are bullish despite mixed global cues. 
  • BSE Sensex is currently trading 48,615.20 up 228.69 points or 0.47%.
  • Nifty50 is currently trading at 14,555.35 up 214.00 points or 0.49%. Nifty Bank is trading up 0.21% at 32,341.35 while Mid-cap Index is up by 0.64%.
  • Hindalco, Tata Steel, Adani Ports, Reliance and Larsen & Turbo are the top gainers while HDFC Life, Axis Bank, SBI Life, Kotak Bank and Tech Mahindra are the top losers.
  • Nifty Metal stocks (over 2% higher) drive morning trade while Nifty Banking and Financial Services struggle. 
  • Out of 50 stocks traded on the NSE, 32 advanced and 18 declined. Read More

Axis Bank allots 1 lakh equity shares under ESOP; Stock slips 2%

Published on: 10:27 am

  • Axis Bank has informed the Exchange that the Bank has allotted 1,00,500 equity shares of Rs. 2/- each of the Bank on 26th April 2021, pursuant to exercise of stock options under its ESOP Scheme.
  • The paid up share capital of the Bank will accordingly increase from Rs. 612,79,73,826 (306,39,86,913 equity shares of Rs. 2/- each) to Rs. 612,81,74,826 (306,40,87,413 equity shares of Rs. 2/- each).
  • On Tuesday, the stock has touched an intraday high and low of Rs698 per piece and Rs684.25 per piece respectively in early trading hours. Read More

Dilip Buildcon board approves QIP issue of over Rs510cr

Published on: 10:17 am

  • Qualified Institutions Placement Committee of the Board of Directors of Dilip Buildcon Limited, at its meeting held on April 26, 2021, approved the issue and allotment of 94,45,203 Equity Shares of face value Rs10 each to eligible qualified institutional buyers at the issue price of Rs540/- per equity share (including a premium of Rs530/- per equity share) against the floor price of Rs568.41 per equity share, aggregating to over Rs510cr.
  • The QIP opened on April 20, 2021and closed on April 26. After the allotment of equity shares in the QIP, the paid-up Equity Share capital of the company stands increased from Rs1,36,76,97,680 consisting of 13,67,69,768 equity shares to Rs1,462,149,710/- consisting of 14,62,14,971 equity shares of face value Rs10 each. Read more

Brickworks expect Titan's FY21 revenue to be better than FY20, reaffirms rating on strong support fr

Published on: 10:11 am

  • Brickworks Ratings has reaffirmed Titan Company's bank loan facilities and commercial papers worth Rs6,500cr. Furthermore, a stable outlook has been given on Titan due to its brand domination and strong support from parents Tata Group.
  • While reaffirming rating on Titan, Brickworks said that it draws comfort from the strong parentage and support of the Tata group and TIDCO, the strategic importance of TCL to the Tata group, established brand equity, experienced and professional management, and robust financial risk profile supported by the company's consistent performance despite the disruptions due to COVID-19. Read more

Aartech Solonics bags India Army supply order for Ultracapacitor based-systems

Published on: 10:08 am

  • Aartech Solonics Limited has announced on Monday that it has bagged a prestigious supply order of an undisclosed amount from the Indian Army for supply of its state-of-the-art KranKing Ultracapacitor based Systems for ‘A’ Vehicles.
  • KranKing Ultracapacitor based Systems for ‘A’ Vehicles are extremely effective in the starting operations of Tanks / ICVs (type ‘A’ as well as type ‘B’ Vehicles), particularly in High Altitude Areas under extremely low temperature conditions in which batteries fail to perform. Read More

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