Published on: 5:15 pm
- State-owned NMDC on Thursday announced that Vineet Pandey, CVO, SAIL has taken over additional charge as Chief Vigilance Officer (CVO) of the company. He is an officer belonging to the 1994 batch of Indian Railways Service of Electrical Engineers (IRSEE).
- Having worked in prestigious organisations such as Indian Railways, SAIL, RITES and Central Electricity Authority, he brings in vast experience in Corporate Coordination, Maintenance of Probity & Integrity, Project Engineering, System Integration, Production & Maintenance of Electrical Rolling Stock, Energy Management and Green-energy Initiatives etc. Read more
Published on: 5:09 pm
- Tata Chemicals MD and CEO Ramakrishnan Mukundan expect a recovery in the last quarter of the current year 2021, however, he said that the company remains watchful of any surges in Covid levels. The company released its annual report for the financial year FY21.
- In the annual report, Mukundan told shareholders that "our financial performance reflected the challenging market conditions. The consolidated revenue for the year was Rs10,200cr, EBITDA Rs1,501cr and PAT Rs436cr. Our focus was on ensuring robust cash flows from operations which were Rs2,037cr on a consolidated basis." Read more
Published on: 5:00 pm
- Alkem Laboratories Ltd has announced the launch of Perampil (Perampanel) tablets 2 mg/4 mg/6 mg on June 9th 2021 to make the treatment accessible to patients and healthcare providers improving their quality of life.
- Alkem has launched Perampil, at 2 mg – Rs. 49/strip of 7 tablets, 4 mg – Rs. 180/strip of 15 tablets and 6 mg – Rs300/strip of 15 tablets, to improve patient access.
- The Company confirmed, this product reaffirms Alkem’s commitment towards improving epilepsy care by bringing multiple treatment options of quality products to patients and health care professionals in India. Read more
Published on: 4:52 pm
- ION Exchange has announced on Thursday that the company received a Letter of Award and Contract from State Water Supply and Sanitation Mission, Namami Gange and Rural Water Supply Department under Jal Jeevan Mission for two EPC projects, for a survey, design, preparation of Detailed Project Report (DPR), supply, construction and commissioning of the water treatment plant and O&M for 10 years for rural drinking water supply to 1000 villages in two districts of Uttar Pradesh i.e. Varanasi and Aligarh.
- The value of these two projects is expected to be approximately Rs1000cr, specific value will be determined after approval of DPR.
- The project is to be constructed and commissioned within 21 months from the date of signing the contract. Read more
Published on: 4:45 pm
- Tata Power-led wholly-owned subsidiary Coastal Gujarat Power Limited (CGPL) has successfully issued and allotted Unsecured, Rated, Listed, Taxable, Guaranteed, Redeemable Non-Convertible Debentures (“NCDs”) for an amount of Rs570cr on a private placement basis issued for a tenor of 3 years.
- According to the regulatory filing, the NCDs have been rated IND AA(CE)/Stable by India Ratings & Research and will carry a coupon rate of 5.70%, payable annually. The debt obligations of CGPL under the NCDs are guaranteed by the Company. Read more
Published on: 4:39 pm
- According to the Federation of Automobile Dealers Associations (FADA), the total vehicle registrations in May 2021 dropped 54.79% to 5,35,855 units as against 11,85,374 units in April 2021. The sales were 70.69% lower when compared to 18,22,566 units sold in May 2019.
- Two-wheeler sales in May also fell by 53%, while those of three-wheelers slipped 76%, MoM.
- Passenger vehicle registrations were down by 59% and commercial vehicle registrations dropped 66%, MoM and tractor sales, too, down 57% on a sequential basis, as per FADA data released on Thursday. Read more
Published on: 4:38 pm
- Dhruv Consultancy Services has received the “Letter of Award (“LOA”)” for Consultancy Services for Authority’s Engineer for Supervision of (a) up-gradation to four-lane with Paved Shoulder configuration of the highway starting from existing km 88.400 (Savali Vihir) to km 163.400 (start of Ahmednagar bypass) (Design Length 75 km) and (b) 4 lane elevated structure on Pune Aurangabad Road along NH 222 in Ahmednagar city limit in the State of Maharashtra on EPC Mode from the office of Chief General Manager (Tech), Maharashtra Division, National Highways Authority of India, New Delhi (“the Authority”).
- The project was received on Wednesday by Dhruv Consultancy Services in a joint venture with Yongma Engi. Co Ltd and association with Cho & Kim Engi. Pvt. Ltd. Read more
Published on: 4:31 pm
- GOCL Corporation has informed that the Company along with IDL Explosives Limited (IDLEL), a wholly-owned subsidiary of the Company, have bagged orders from Coal India Limited, a Govemment of India Undertaking, to be supplied over a period of 2 years i.e. from June 2021 to May 2023.
- Orders are worth an aggregate amount of Rs286.63cr to Supply of Raydets, Electronic and other Detonators and Cartridge Explosives over a period of 2 years. Read more
Published on: 4:25 pm
- Saraswati Commercial (India) Limited stock ended on a bullish note at Rs2367.30 per piece up Rs112.70 or 5.00%. The stock hit a day’s high of Rs2367.30 per piece on Thursday.
- The company informed the exchanges that it has sold 16.50 lakh equity shares of GeeCee Ventures Limited on Thursday. Read more
Published on: 4:12 pm
- Secretary, department of Commerce, Government of India Dr Anup Wadhawan said that Agriculture Exports have performed well during 2020-21.
- During the media interaction, he informed that after remaining stagnant for the past three years (USD 38.43 billion in 2017-18, USD 38.74 billion in 2018-19 and USD 35.16 billion 2019-20), the export of agriculture and allied products during 2020-21 jumped to USD 41.25 billion,indicating an increase of 17.34%.
- In INR terms, the increase is 22.62% with exports during 2020-21 amounting to Rs3.05 lakh cr as compared to Rs2.49 lakh cr during 2019-20. Read more
Published on: 4:05 pm
- GP Petroleums Limited reported a strong financial delivery for the Quarter ended March 2021. On the back of a robust Q3, the company delivered Q4 Revenue of Rs192.78cr (108 % higher over Q4FY20) and PBT of Rs6.43cr (228% higher over Q4FY20). Annual Revenue is at Rs611.09cr (up by 23% yoy) while PBT is at Rs23.61cr (higher by 26% yoy).
- “We did make the best of a bad bargain during Q4. The demand was moderate due to sporadic improvement in Industrial activity but the B2C automotive sector was yet to recover. The strong headwinds due to the pandemic and the skyrocketing of raw material prices across Baseoils, Steel, Packaging, Additives and Chemicals, and Logistics, posed multiple challenges,” Prashanth Achar, Chief Executive Officer, GP Petroleums Limited, said. Read more
Published on: 4:00 pm
Performance Highlights for the quarter ended March 31st, 2021:
- Revenue from operations was at Rs92.83crin Q4 FY21 as against Rs99.91cr in Q4 FY21 yoy decline of 7.09 % mainly due to surge in COVID-19 cases by end of quarter
- EBITDA (excluding other income) stood at Rs24.40cr Read more
Published on: 3:54 pm
- Shares of IRB Infrastructure extending their upward movement to hit a 52-week high on the BSE. The stock climbed after the HDFC Mutual Fund acquired more than a 1% stake in the company via the open market.
- Earlier this month, IRB Infrastructure Developers has announced that the Udaipur BOT Project implemented by Udaipur Tollway (SPV) which is now part of IRB Infrastructure Trust - Private InvIT, has been issued a Completion Certificate by the Competent Authority.
- The stock ended at Rs140.60 up by Rs10.75 or 8.28% from its previous closing of Rs129.85 on the BSE. Read more
Published on: 3:45 pm
- Orient Abrasives Limited informed the exchanges Wednesday that it is currently encountering difficulties in sourcing a specialized grade Bauxite in Gujarat which is an important raw material in its production of Brown Fused Alumina (BFA) and other products at its Porbandar plant situated at GIDC Industrial Area, Porbandar, Gujarat. However, the management of the company is actively working towards finding a sustainable supply of the raw material.
- Presently, as a result of this raw material shortage, a significant part of the company's Porbandar operations are suspended, which may temporarily lead to an adverse impact on the company's performance. Read more
Published on: 3:40 pm
- Affle (India) announced that it has approved the 100% acquisition of Jampp, a leading programmatic mobile marketing company. The acquisition will take place through its subsidiary.
- Jampp is a global platform that started in 2013 in Latin America (LATAM) and its largest teams continue to be based there.
- This announcement comes together with Affle entering into definitive agreements to increase its strategic ownership in Bobble AI (Talent Unlimited Online Services Private Limited) to 17.72%, as of date. Read more
Published on: 3:32 pm
- Markets witnessed a positive day of trade as across the board short-covering weighed in.
- Bank Nifty outperformed the Nifty index by ~0.3% with both the indices closing in the green. Banking heavyweights like SBI & ICICI Bank saw a short covering during the trade, closing around intraday highs.
- Nifty Media index was the top performing index closing ~4.5% with stocks like TV18, Network 18 & SunTv leading from the front. Read more
Published on: 3:29 pm
- Tata Motors has informed NSE that the company is desirous of offering Rated, Listed, Unsecured, Redeemable, Non-Convertible Debentures aggregating Rs500cr.
- In this regard, the company is holding a meeting of its duly constituted Committee of the Board on June 14, 2021.
- At around 3.27 PM, Tata Motors surged 0.4% and was trading at Rs344.75 per piece. Read more
Published on: 3:23 pm
- Birla Cellulose’s Grasim Cellulosic Division, Vilayat, India has successfully commissioned the Carbon-disulphide Adsorption Plant (CAP) and has achieved the stringent level of sulphur-toair emission norms stipulated in the EU BAT references (EU Best Available Technologies BREFs) for the viscose manufacturing process, Grasim Industries Limited said in a filing on Thursday.
- This initiative is in line with Birla Cellulose's aim to apply the best available technologies (EU BAT) at all of its fibre locations and investments of $170 million are in progress in order to achieve this by the end of 2022. Read more
Published on: 3:20 pm
- Kirloskar Electric Company has informed to the exchange regarding partial lay-off of workmen of the Company’s unit.
- "The Company’s unit situated at Hirehalli, Tumkur (unit-7) has extended lay off period of 35 workmen out of 81 workmen for a period of 90 days, with effect from 11th June 2021", said by the company in a regulatory filing.
- The current market cap of the company is Rs131.83cr. Read more
Published on: 3:20 pm
- Reliance Industries (RIL) has announced that the Fluidized Catalytic Cracker Unit (FCCU) in our SEZ refinery at Jamnagar had to be taken for an emergency shutdown.
- The closure took place on June 06, 2021.
- RIL said that 'all other units at the Jamnagar Refining complex are operating normally." Read more
Published on: 3:03 pm
- Banking stocks witnessed healthy gains on Thursday reversing their previous trading sessions bearish stance. Heavyweights except for HDFC Bank led to drive the index on both benchmarks Sensex and Nifty. The Bank Nifty has climbed to an intraday high of 35,163.10.nThe markets are set to react towards major inflation and monetary policies from world leaders. Further, consistent reduction in Coronavirus cases in India has lifted the mood with business activities coming back on track.
- At around 3.03 PM, the Bank Nifty was trading at 306.90 points or 0.9%.
- PNB was the top gainer surging 4.6%, while SBI climbed 2.5%. Federal Bank and RBL Bank jumped by 2.1% each. Read more
Published on: 2:48 pm
- Tata Consultancy Services (TCS) has been named a Leader in the Zinnov Zones for Internet of Things (IoT) Services, for the fifth consecutive year. The report recognized TCS’ leadership in various segments of IoT services such as digital thread services, telemedicine services, contactless retail services, cybersecurity services and public infrastructure services.
- TCS’ Bringing Life to Things IoT framework helps customers build predictive and self-aware systems that can sense and intelligently respond to changes in the physical environment.
- Using this framework, organizations can create new, boundary less and pervasive business models, seamless customer experiences, optimized and responsive value chains, as well as enhance safety and security at the workplace. Read more
Published on: 2:48 pm
- India Ratings and Research (Ind-Ra) has assigned Aditya Birla Money Limited a Long-Term Issuer Rating of ‘IND AA+’. The Outlook is Stable.
- Ind-Ra continues to take a consolidated view of ABML’s parent, Aditya Birla Capital Limited and the latter’s various subsidiaries in the financial services domain, including ABML, for the ratings. The ratings are supported by the strong ultimate parentage of Grasim Industries Limited (‘IND AAA’/Stable).
- The ratings factor in Ind-Ra’s expectation that the financial services segment would continue to be highly important for Grasim Industries and the larger Aditya Birla group franchise from a long-term perspective. Read more
Published on: 2:36 pm
- Newgen Software, a global provider of low code digital transformation platform, has announced that the Indian patent office has granted a patent (No. 367606) for an invention titled “Online Collaborative Signing of Documents.” This is for a term of 20 years commencing from November 18, 2010, in accordance with the provisions of the Patents Act, 1970.
- The invention offers an enriched digital signature solution for the collaborative signing of documents with automatic verification of user device, identity, and signatures. The documents in the system are accessed via an interface and further authenticated with user device ID management and digital rights management. Read more
Published on: 2:31 pm
- Shares of Indian Metals & Ferro Alloys gained over 2% after reporting Q4 numbers. The company’s standalone net profit of Rs65.11cr in the quarter ended March 2021 as against net loss of Rs52.16cr during the previous quarter ended March 2020.
- The sales rose 51.99% to Rs576.11cr in the quarter ended March 2021 as against Rs379.04cr during the previous quarter ended March 2020.
- The stock is currently trading at Rs483.15 up by Rs10.85 or 2.3% from its previous closing of Rs472.30 on the BSE. Read more
Published on: 2:30 pm
- Indices make further gains as media stocks surge nearly 5% and banking and financial services stocks rise.
- BSE Sensex is currently 52,298.95 up 357.31 points or 0.69%.
- Nifty50 is currently 15,735.70 up 100.35 points or 0.64%. Nifty Bank is trading up 0.79% at 35,074.35 while Mid-cap Index is up by 1.27%. Read more
Published on: 2:16 pm
- Benchmark indices have extended their gains in the afternoon session ahead of weekly index futures and option contracts expiry. Sentiments also remain positive after the Finance Ministry said as faster vaccine coverage and frontloading of fiscal measures outlined in this year's budget. Also, it will be important factors in improving the investment and consumption cycles and, as a result, restoring the economy, the Finance Ministry stated.
- The Sensex is trading at 52,262.90, higher by 321 points or 0.62% and the NSE Nifty has advanced 91 points to 15,726.15.
- On the sectoral front, financial and pharma stocks are witnessing heavy buying in today’s trade. Bajaj Finance, Baja Finserv, Divis Lab, SBI and IndusInd Bank have gained 5-2%, respectively on the Nifty index. Read more
Published on: 2:12 pm
- Nifty FMCG stocks gained over 200 points to go with the bullish markets on Thursday. Varun Beverages and Godrej Consumer Products took the fast lane to drive the Index while Emami was also bullish.
- Heavyweights Hindustan Unilever, Tata Consumer, and ITC also made huge gains to lift the sectorial performance.
- At around 2.12 PM, Nifty FMCG was trading at 35,793.30 up 204.35 points or 0.57%, touching a high of 35,901.75 and low of 35,448.60 during intraday trade on Thursday. Read more
Published on: 2:07 pm
- JTEKT India Limited has informed that Geeta Mathur, Independent Woman Director of the company has tendered her resignation from the Directorship of the company with effect from theclosing business hours of 9th June 2021.
- In her resignation Geeta Mathur said, "It has been a great pleasure and honor for me, to be on the Board of your Company. However, with my current board positions and personal commitments, I am finding it difficult to efficiently manage my responsibilities as a board member of JTEKT India Limited.
- I would therefore like to step off the board of JTEKT India Limited. I hereby tender my resignation from the Directorship of your Company effective from the close of business hours on 9th June, 2021. Read more
Published on: 2:01 pm
- Persistent Systems announce that Suresh Prabhu has joined the company as the Chief Delivery Officer for Industry verticals. In this role, he will be responsible for the delivery organization across Software & HiTech, Banking Financial Services and Insurance, Healthcare and Life Sciences, and Emerging verticals.
- In its regulatory filing, Persistent Systems said, “We are excited to welcome Suresh to the Persistent family as we move to the next phase in our growth journey. COVID-19 reinforced the need for every organization to accelerate their digital transformation journey, leveraging the best of cloud, data, security and Industry partnerships while bringing the latest products and services to their customers. Persistent’s capabilities and our substantial investment in Digital Engineering demonstrate our commitment to delivering greater value to our clients. The relevance of what we have to offer is clearly exhibited in our Industry leading growth over the past several quarters. Suresh’s expertise across Digital engineering and multiple Industry verticals will help further bolster our ability to deliver cutting-edge services and solutions to our clients across the globe.” Read more
Published on: 1:49 pm
- Tanla Platforms, wholly-owned subsidiary Karix Mobile, announced the deployment of a conversational banking solution WhatsApp Business- for India’s third-largest private sector bank, Axis Bank.
- “At Karix, we are committed to developing solutions that help our partners deliver an amazing customer experience,” Deepak Goyal, Chief Business Officer, Tanla Platforms Limited said. “From digitising the account opening process to serving the customer throughout the lifecycle with omnichannel communication, our obsession with improving customer experience has led to some path-breaking innovations in the cloud communications space for the banking industry”, he added. Read more
Published on: 1:40 pm
- Accelya Solutions Limited hit fresh 52-week high of Rs1184.90 per piece during intraday trade on Thursday amid two-day offer of sale.
- The promoter Group of the company, Accelya Group Bidco Limited has proposed to sell up to 21,81,773 equity shares representing 14.62% of the total paid-up equity share capital of the company through an offer of sale on Thursday and Friday. The floor price for the offer is Rs910 per share. Read more
Published on: 1:38 pm
- Hinduja Global Solutions (HGS), UK-based subsidiary, Hinduja Global Solutions UK has announced its plan to create 565 new jobs in Northern Ireland.
- In its regulatory filing, HGS stated that Invest Northern Ireland, the region’s business development agency, has worked extensively to help secure this project for Northern Ireland and is supporting to help create 565 new jobs.
- Adam Foster, CEO of Hinduja Global Solutions UK said: “Our business was already growing but the last 12 months have been particularly strong. This growth means we need to expand our team. We focus on clients and contracts where we can build longer term strategic relationships and bespoke solutions," adding, "We were attracted to Northern Ireland by the positive experience of others, the availability of talented people, and the good connectivity infrastructure which is so important to our home working model." Read more
Published on: 1:32 pm
- Shares of Bata India trading higher on the BSE post March quarter results. The company posted a net profit of Rs29.47cr, which declined 23.28% in the quarter ended March 2021 as against Rs38.41cr during the previous quarter ended March 2020.
- The sales also dropped 4.94% to Rs589.91cr in the quarter ended March 2021 as against Rs620.57cr during the previous quarter ended March 2020.
- The stock is currently trading at Rs1,608.80, up by Rs51.1 or 3.28% from its previous closing of Rs1,557.70 on the BSE. Read more
Published on: 1:30 pm
- BSE Sensex is currently 52,254.76 up 313.12 points or 0.60%.
- The Nifty50 is currently 15,730.65 up 95.30 points or 0.61%. Nifty Bank is trading up 0.58% at 35,001.70 while Mid-cap Index is up by 1.11%.
- Bajaj Finance, Divis Lab, Bajaj Finserv, Tech Mahindra, and Wipro are the top gainers while Bajaj Auto, Eicher Motors, Maruti, UPL, and Ultratech Cement are the top losers. Read more
Published on: 1:24 pm
- Metal company stocks were trading on a bullish tone on Thursday as investors concern over price control cools off after China decided to keep commodity prices in check.
- On NSE, the Nifty Metal index has traded with more than 1% upside led by broad-based buying, especially in heavyweight stocks.
- Broadly, metal prices in the commodity markets are reacting to China's pledge to step up monitoring of commodity prices and further strengthen supervision of spot and futures markets. This decision comes after China's inflation hit its highest in more than 12 years. So far, this year, copper prices in the London Metal Exchange have climbed by 28%, while at the Shanghai Future Exchange the prices have surged by 21%. Read more
Published on: 1:20 pm
- NITI Aayog, RMI and RMI India’s new report, Fast Tracking Freight in India: A Roadmap for Clean and Cost-Effective Goods Transport, presents key opportunities for India to reduce its logistics costs.
- Due to the rising demand for goods and services, freight transport demand is expected to grow rapidly in the future. While freight transport is essential to economic development, it is plagued by high logistics costs and contributes to rising CO2 emissionsand air pollution in cities. Read more
Published on: 1:15 pm
- The Nifty Realty Index advanced over 1% amid bullish markets on Thursday. Indiabulls Real Estate stretched the winning streak followed by Hemisphere Properties and Prestige Estates and Projects. Phoenix Mills Limited continued to remain under pressure.
- The Index has been mostly trading in the green this week amid a fall in Covid-19 cases in Mumbai and other cities. On Wednesday the sector gained over 1% before slipping into red territory in the afternoon.
- At around 1.15 PM, the Nifty Realty was trading at 353.55 up 3.65 points or 1.04%, touching a high of 356.05 and low of 351.60 during intraday trade on Thursday. Read more
Published on: 1:10 pm
- GAIL (India) Limited Profit after Tax (PAT) jumped by 28% to Rs1,908cr in Q4FY21 as against Rs1,487cr in Q3FY21. Profit before Tax (PBT) in Q4FY21 increased by 40% to Rs2,612cr as against Rs1,868cr in previous Q3FY21.
- The company recorded a Turnover of Rs15,472cr in Q4FY21 as against Rs15,386cr in Q3 FY21.
- The stock is currently trading at Rs162.40, up by Rs0.2 or 0.12% from its previous closing of Rs162.20 on the BSE. Read more
Published on: 12:53 pm
- India Ratings and Research (Ind-Ra) has revised Tata Steel Limited’s (TSL) Outlook to Positive from Stable while affirming its Long-Term Issuer Rating at ‘IND AA’.
- Ind-Ra continues to take a consolidated view of TSL and its subsidiaries to arrive at the ratings, owing to the strong operational and strategic linkages among them.
- A sustained increase in the consolidated profitability, leading to an improvement in the credit metrics with the adjusted net leverage below 3.0x on a sustained basis, and lower refinancing requirements at overseas group entities could lead to a positive rating action, according to the rationale report. Read more
Published on: 12:48 pm
- L&T Finance Holdings Limited updated the exchanges the merger of L&T Infrastructure Finance Company Limited (LTIFC) and L&T Housing Finance Limited with L&T Finance Limited, all wholly-owned subsidiaries of the Company and the consequent impact on L&T Infra Debt Fund Limited (LTIDF).
- The company has earlier said that one of the subsidiaries of the company, may be required to undergo changes in the general character or nature of business / activities / shareholding structure which may include requirement of obtaining various approvals and making appropriate applications to the regulator, in this regard. Read more
Published on: 12:30 pm
- Benchmark market indices consolidate early gains with Pharma, PSU Bank, and metal stocks leading the charge.
- BSE Sensex is currently 52,184.68 up 243.04 points or 0.47%.
- The Nifty50 is currently 15,723.55 up 88.20 points or 0.56%. Nifty Bank is trading up 0.22% at 34,875.35 while Mid-cap Index is up by 1.03%.
- Bajaj Finance, Divis Lab, Wipro, JSW Steel, and Reliance are the top gainers while Bajaj Auto, Eicher Motors, UPL, Maruti and Hero MotoCorp are the top losers.
- Nifty Pharma, PSU Bank and Metal stocks remain bullish while Nifty Auto stocks trade flat.
- Out of 50 stocks traded on the NSE, 38 advanced and 12 declined. Read more
Published on: 12:29 pm
- Procurement of Wheat in ongoing RMS 2021-22 is continuing smoothly in the procuring States of Uttar Pradesh, Bihar, Rajasthan, Gujarat, Himachal Pradesh and Jammu & Kashmir at MSP, as was done in previous seasons and till now (upto 08.06.2021) a quantity of over 418.47 LMT of wheat has been procured (which is an all-time high, as it has exceeded previous high 389.92 LMT of RMS 2020-21) against the last year corresponding purchase of 373.22 LMT.
- About 46 Lakh farmers have already been benefitted from the ongoing RMS procurement operations with an MSP value of Rs82,648.38cr. Read more
Published on: 12:25 pm
- Reliance Power Limited, part of the Reliance Anil Dhirubhai Ambani Group has informed to the exchange regarding fundraising plan by the company which decision will be taken by Board in its upcoming meeting.
- In a regulatory filing Reliance Power informed that "a meeting of the Board of Directors of the Company will be held on Sunday, 13th June, 2021 to consider and approve raising of long term resources from domestic and/or global markets, inter alia, by issue of equity shares/ equity linked securities/ warrants convertible into equity shares, by way of preferential issue and/ or qualified institutional placement and/or rights issue or any other method including determination of issue price, if any and seeking members' and other approval, as the Board may deem appropriate." Read more
Published on: 12:24 pm
- Pharma company stocks were trading near record-high levels with India witnessing less than 1 lakh Daily New Cases for the 3rd successive day on Thursday. New Covid-19 vaccination guidelines along with an improved decline in the virus cases have taken pharma stocks on a bull run. In the early deals, Nifty Pharma clocked a fresh record high of 14,362.45.
- At around 12.10 PM, Nifty Pharma was trading at 14,330.50 up by 211.60 points or 1.50%.
- Divis Lab was the top gainer surging by 3.2% after touching a new 52-week high of Rs4,425 per piece earlier today. Cipla also clocked a new all-time high of Rs975 per piece in the early trade. Cipla has advanced by more than 1%. Read more
Published on: 12:15 pm
- Coral India Finance & Housing Limited promoter Navin Bachubhai Doshi, proposed to sell up to 18,67,170 equity shares of Coral India Finance & Housing, representing 4.63% share capital of the company by way of offer of sale on Thursday and Friday. The floor price for the offer shall be Rs35.
- The company reported a net profit of Rs3.78cr in the quarter ended March 2021 as against a net loss of Rs1.36cr during the previous quarter ended March 2020. Sales reported to Rs5.96cr in the quarter ended March 2021 as against Rs -1.27cr during the previous quarter ended March 2020. Read More
Published on: 12:09 pm
- The Cabinet Committee on Economic Affairs (CCEA) on Wednesday has approved the increase in the Minimum Support Prices (MSPs) for all mandated Kharif crops for marketing season 2021-22.
- The Government has increased the MSP of Kharif crops for marketing season 2021-22, to ensure remunerative prices to the growers for their produce.
- The highest absolute increase in MSP over the previous year has been recommended for sesamum (Rs452 per quintal) followed by tur and urad (Rs300 per quintal each). In the case of groundnut and nigerseed, there has been an increase of Rs275 per quintal and Rs235 per quintal respectively in comparison to last year. The differential remuneration is aimed at encouraging crop diversification. Read more
Published on: 12:04 pm
- The Indian Hotels stock was trading on a positive note on Thursday amid exchanges seeking clarification from the company over a buzz that stated that Taj will open a 775-room hotel complex at KIA.
- At around 12:01 PM, Indian Hotels was trading at Rs137 per piece higher by 1.2% on Sensex. The stock was near the day's high of Rs137.80 per piece.
- BSE and NSE have sought clarification from Indian Hotels over a news article that appeared in The Hindu titled "Taj to open 775-room hotel complex at KIA". Read more
Published on: 11:59 am
- The Indian rupee opened on a flat note and inched higher against the US dollar on Thursday ahead of U.S. inflation data for May.
- At the interbank foreign exchange, the domestic unit opened at 72.95 against the dollar, then inched higher to 72.99/$ over its previous close.
- The local unit on Wednesday had settled at 72.97 against the US dollar.
- Besides, foreign institutional investors were net sellers in the capital market on Wednesday as they offloaded shares worth Rs846.37cr, as per exchange data. Read more
Published on: 11:51 am
- Dynamic Cables Limited (DCL), on Wednesday announced its results for the fourth quarter and full-year ended March 31, 2021. The company’s operating revenue grew 58% to Rs139.2cr in Q4FY21 compared to Rs88.3cr in Q3FY21. Revenue growth during H2FY21 increased 2.6% to Rs227.5cr against Rs221.7cr in H2FY20. For the full year, revenue declined to Rs342.6cr compared to Rs428.6cr in FY20.
- The company’s PAT in Q4FY21 increased to Rs5.4cr compared to Rs0.1cr in Q3FY21. During H2FY21, PAT rose to Rs5.5cr from Rs3.3cr in H2FY20. For the fiscal FY21, PAT declined to Rs9.8cr compared to Rs18.2cr in FY20. Read More