Published on: 5:04 pm
- Welspun Corp Limited has decided to increase the capacity for DI Pipes to 400 KMTPA (from earlier proposed 250 KMPTA) and add DI Fittings to the product range, considering the expected demand.
- The company had previously announced on October 29, 2020, setting up a Greenfield facility at Anjar to enter the Ductile Iron (DI) Pipe business.
- Due to increased capacity the total project cost to Rs1,550cr (plus soft cost) from the earlier planned Rs1,250cr (plus soft cost). The project is being funded through a combination of internal accruals and debt. The project is expected to be commissioned by April 2022. As the project is currently under construction, there is no capacity utilization as of now Read more
Published on: 5:03 pm
- Tata Consultancy Services (TCS) has announced that it has designed and delivered a key customer experience transformation program for Alcatel-Lucent Enterprise (ALE), a leading provider of communications, networking, and cloud solutions tailored to customers’ industries, to drive improved sales velocity and revenue growth.
- TCS has been ALE’s growth and transformation partner for several years and has contributed to many of its strategic initiatives such as co-creating a next generation unified communication platform and digitally transforming its IT landscape across the business value chain. To accelerate its next wave of growth, ALE wanted to redefine and enrich the customer and partner experience to build long lasting relationships. Read more
Published on: 5:02 pm
- Krishna Institute of Medical Sciences Limited (the “KIMS) will open the Bid/Offer period in relation to its initial public offering (IPO) of equity shares on Wednesday, June 16, 2021. The Bid / Offer Period will close on Friday, June 18, 2021.
- The price band of the offer has been fixed at Rs815-825 per equity share.
- The Equity Shares offered in this Offer are proposed to be listed on both BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE) post the listing. Read more
Published on: 5:00 pm
- IT-giant, Tata Consultancy Services (TCS) announced on Friday the expansion of its strategic partnership with Virgin Atlantic, one of the UK’s leading airlines, to help the latter embark on a new phase of recovery and growth.
- The enhanced partnership builds on a 17-year relationship between the two organisations and will see TCS take exclusive responsibility for end-to-end operational management and digital transformation. Read more
Published on: 4:51 pm
- Gokaldas Exports Limited informed the exchanges that the company’s operations in Karnakata will be restricted due to lockdown to prevent the spread of Covid-19.
- “The Government of Karnataka has announced on June 10, 2021, an extension of lockdown in Karnataka from June 14 to June 21, 2021. Under the current guidelines for garment industries, operations are restricted to 30% of staff strength, strictly adhering to the Covid-19 appropriate behaviour during the lockdown period.
- Accordingly, our manufacturing units located in Karnataka would be functioning as per the guidelines stipulated by the Government of Karnataka,” company said in a filing on Friday. Read more
Published on: 4:50 pm
- Biopharmaceutical company, Ocugen, has announced that recommendation from the U.S. Food and Drug Administration (FDA), the company will pursue submission of a biologics license application (BLA) for its COVID-19 vaccine candidate, COVAXIN. The Company will no longer pursue an Emergency Use Authorization (EUA) for COVAXIN.
- COVAXIN, India's COVID-19 vaccine by Bharat Biotech, is developed in collaboration with the Indian Council of Medical Research (ICMR) - National Institute of Virology (NIV). COVAXIN is a highly purified and inactivated vaccine that is manufactured using a Vero cell manufacturing platform. Read more
Published on: 4:49 pm
- Gayatri Projects Limited (GPL) shares ended lower after the NHAI declared the company as a non-performer and prohibited from participating in the ongoing and future bids for the road projects till defects and deficiencies in one of the company’s projects were rectified.
- The stock ended at Rs33.35 down by Rs4.5 or 11.89% from its previous closing of Rs37.85 on the BSE.
- GPL said in the regulatory filing that it has clarified on the recent National Highways Authority of India (NHAI) announcement which declared GPL as non-performer and prohibited the Company from participating in the ongoing and future bids for the Road projects till defects and deficiencies in one of the GPL's projects were rectified. Read more
Published on: 4:45 pm
- Ashoka Buildcon Limited has announced to the exchange regarding L-1 bidder for National Highways Authority of India project.
- The company had submitted Bid to National Highways Authority of India in respect of the Project viz. 'Request for Proposal for Development of Memmadpur (Ambala) - Banur (IT City Chowk) — Kharar (Chandigarh) Corridor under Bharatmala Pariyojana - Package-Il - 6 laning of IT City Chowk to Kurali Chandigarh Road in the state of Punjab on EPC mode'.
- The Company has emerged as the Lowest Bidder (L-1) and the Quoted Bid Price of which is Rs726cr. Read more
Published on: 4:40 pm
- State-owned Indian Renewable Energy Development Agency Ltd. (IREDA), has invited bids from solar module manufacturers for setting up solar manufacturing units under the central government’ Rs. 4,500 crore Production Linked Incentive (PLI) scheme.
- The Ministry of New & Renewable Energy (MNRE) has appointed IREDA as the implementing agency for the scheme.
- Earlier, the Union Cabinet had approved Rs4,500cr scheme to boost domestic manufacturing of solar Photo Voltaic ( PV) modules. Read more
Published on: 4:26 pm
- Info Edge (India) said in the regulatory filing that it has fixed June 22 as the record date for an interim dividend of Rs8 per share for FY21. The dividend will be paid on or after July 5, 2021, it added.
- The Board has declared an Interim Dividend of Rs.8/- per share (on face value of Rs10/- per share) for the financial year 2020-21.
- The stock ended at Rs4,679 down by Rs53.45 or 1.13% from its previous closing of Rs4,732.45 on the BSE. Read more
Published on: 4:20 pm
- Nitco Limited, India's most venerable tiles brand, on Friday has announced the financial results for the fourth quarter and year ended on 31st March, 2021, as approved by its Board of Directors.
- Nitco's sales volume during Q4 FY2021 witnessed significant increase as the economic activities improved post pandemic related lockdown was lifted. Nitco's sales volume had dipped considerably during Q1 FY 2020-21 due to the nation-wide lockdown.
- During Q4, Nitco managed 11% improvement in tile sales volume over Q3. Sales volume in the month of March 2021 was the highest in this financial year. H2 tile sales volume more than doubled H1 volumes. Read more
Published on: 4:15 pm
- Moody's Investors Service has affirmed the Ba1 corporate family rating (CFR) of Tata Chemicals Limited (TCL) with the rating outlook remains stable.
- "The rating affirmation reflects the likely recovery in TCL's consolidated revenue and profitability from the trough during the pandemic fallout in the fiscal year ending March 2021. We expect the recovery to sustain over the upcoming 12 to 18 months, strengthening TCL's debt/EBITDA leverage to comfortably below 4.5x and EBITA margin towards 20%," says Kaustubh Chaubal a Moody's Vice President and Senior Credit Officer.
- The stable outlook reflects Moody's view that TCL will sustain revenue growth across all its businesses, while maintaining its leading position in the global soda ash industry. Read more
Published on: 4:12 pm
- The Byke Hospitality Limited is all set to resume operations at The Byke Delotel situated at Borivali, Mumbai from mid-June 2021. The Byke Delotel is situated close to the railway station and has 40 well-equipped rooms with all modern amenities a traveler may need.
- The operations of the Hotel shall be in accordance with guidelines issued by the Government of Maharashtra for effective control of Covid-19.
- Mumbai was under partial lockdown since the first week of April 2021 and many companies in the city including Byke Hospitality had stalled their operations as per state government guidelines to prevent the outbreak of second wave of Covid-19 virus, the company said. Read more
Published on: 4:07 pm
- European markets were trading higher on Friday as global markets shrug off a sharp rise in U.S. inflation. The Euro STOXX 600 hit a record high on Friday with basic resources climbing 1.9%. London shares gained 0.6% led by a gain for the mining sector, while Paris also climbed 0.4%.
- Meanwhile, U.S. stock futures were flat in early premarket trade on Friday.
- On the economic front, U.K. GDP climbed 2.3% month-on-month in April, according to an initial estimate published Friday. The Office for National Statistics said GDP remains 3.7% below its February 2020 pre-pandemic level, but is now 1.2% above its initial recovery peak in October 2020. Read more
Published on: 3:52 pm
- The Reserve Bank of India (RBI) has announced to conduct the third tranche of open market purchase of government securities of Rs40,000 crore under the G-sec Acquisition Programme (G-SAP 1.0) on June 17, 2021.
- From the total, the state development loans (SDLs) would be purchased up to Rs10,000cr.
- Accordingly, RBI will purchase government securities and state development loans (SDLs) through a multi-security auction using the multiple price method. Read more
Published on: 3:46 pm
- CARE has reviewed and reaffirmed the ratings assigned to the bank facilities of Jindal Poly Films Limited and has simultaneously withdrawn it, with immediate effect.
- Long term and short term bank facilities has been reaffirmed to CARE A+/Positive and CARE A1+.
- The ratings continue to factor in the strength of JPFL’s established market position in the Indian packaging film industry, the promoter group having a long track record of operations, its healthy operational performance with a comfortable financial profile characterized by a healthy capital structure, above-average debt coverage indicators and strong liquidity position. Read more
Published on: 3:44 pm
- The Reserve Bank of India (RBI) has allowed banks to increase interchange fee per transaction at Automated Teller Machines.
- The central bank has allowed hiking interchange fee per transaction from Rs15 to Rs17 for financial transactions and from Rs5 to Rs6 for non-financial transactions in all centres. This shall be effective from August 1, 2021.
- Further, customers are eligible for five free transactions (inclusive of financial and non-financial transactions) every month from their own bank ATMs. They are also eligible for free transactions (inclusive of financial and non-financial transactions) from other bank ATMs viz. three transactions in metro centres and five transactions in non-metro centres. Read more
Published on: 3:36 pm
- IPCA Laboratories on Friday announced that the company further acquired 13.09% of the paid-up equity share capital of Trophic Wellness Private Ltd. (TWPL)
- IPCA said that with this acquisition of this 13.09% of the equity share capital, the said Trophic Wellness has become a subsidiary of the Company.
- The transaction was for a cash consideration of Rs21.20cr. Read more
Published on: 3:35 pm
- Magma Fincorp Limited board on Thursday has approved Execution of Shareholders’ Agreement (SHA) entered into between Rising Sun Holdings Private Limited (RSHPL), existing promoters, and the company and consequent alteration of Articles of Association of the company.
- After the completion of the preferential issue of 49,37,14,286 equity shares of the company to RSHPL along with Sanjay Chamria and Mayank Poddar, members of the promoter and promoter group of the company, and completion of the open offer by the said allottees, RSHPL holds a controlling stake in the company and is classified as a ‘promoter’ of the Company, along with the existing members of the promoter and promoter group of the company. Read more
Published on: 3:25 pm
- Precot Limited has informed the exchange regarding reappointment of Vijay Raghunath as Independent Director of the Company for a second term of five years from 1st June, 2022 to 31st May, 2027,
- Vijay Raghunath possesses more than 29 years' experience in legal profession. He has been in the Board of the Company since 2017. In the opinion of the Board Mr Vijay Raghunath fulfi ls conditions specified in the Companies Act, 2013 for an Independent director and he is independent of the management.
- He is holding registration certificate issued by Indian Institute of Corporate Affairs (data bank of Independent Directors). Read more
Published on: 3:13 pm
- Shares of Steel Authority of India (SAIL) soared for the third consecutive session on the BSE. The company has exhibited strong performance in all parameters in FY21 despite the unprecedented challenges posed by the Covid-19 pandemic.
- The net profit rose 31.06% to Rs3469.88cr in the quarter ended March 2021 as against Rs2647.52cr during the previous quarter ended March 2020.
- Sales increased 43.98% to Rs23284.89cr in the quarter ended March 2021 as against Rs16171.83cr during the previous quarter ended March 2020. Read more
Published on: 3:02 pm
- Bharti Airtel on Friday has informed that CRISIL has assigned its 'CRISIL GVC Level 1' grading to the Company.
- The grading indicates that corporate governance practices and value creation at the Company for all its stakeholders are at the 'Highest' level.
- Bharti Airtel Limited is a global telecommunications company with operations in 17 countries across Asia and Africa. Read more
Published on: 2:45 pm
- Cosmo Films, 100% subsidiary, Cosmo Specialty Chemicals has forayed into the Fast Moving Consumer Goods industry with the launch of Fabritizer, an after-wash laundry sanitiser for germ-free clothing.
- Forming a unique protective layer that stays up to 7 days even after ironing, Fabritizer kills 99.9% of viruses, germs and bacteria and is AATCC 100: 2012 and 2019 Standard certified (tested at a Mumbai lab), making it a superior product in the market.
- The product gives protection against human Covid viruses (tested as per ISO 18184 standards at a Lab in the USA). Read more
Published on: 2:43 pm
- The Nifty Metal index was trading on a bullish note with the index added 2.49% in two trading sessions. The metal index trading up over 2% led by broad-based buying, especially in heavyweight stocks.
- According to the media reports, Iron ore prices which were advanced on Thursday as benchmark steel futures in Shanghai rose for a second straight session, but gains were capped as top steel producer China reiterated its goal to rein in commodity inflation. The most-traded iron ore contract for September delivery on China’s Dalian Commodity Exchange ended daytime trading 0.7% higher at 1,178 yuan ($184.53) a tonne. Read more
Published on: 2:35 pm
- Central government has increased the grant-in-aid in 2021-22 to Maharashtra under the Jal Jeevan Mission to Rs7,064.41cr, which was Rs1,828.92cr in 2020-21. Union Minister, Jal Shakti, Gajendra Singh Shekhawat while approving this four-fold increase in allocation has assured full assistance to the State for making provision of tap water supply in every rural home by 2024.
- At the start of the mission in 2019, out of a total of 19.20 Crore rural households in the country, only 3.23 Crore (17%) had tap water supply. During the last 21 months, despite Covid-19 pandemic and lockdowns disruptions, Jal Jeevan Mission, has been implemented with speed and 4.27ct households have been provided with piped water connections. Read more
Published on: 2:30 pm
- Indices see another surge as Pharma and Metal stocks lift performance to join bullish IT stocks in the afternoon session.
- BSE Sensex is currently 52,534.10 up 233.63 points or 0.45%.
- Nifty50 is currently 15,808.50 up 70.75 points or 0.45%. Nifty Bank is trading down 0.07% at 35,105.40 while Mid-cap Index is up by 0.20%. Read more
Published on: 2:28 pm
- Pharma company stocks continued to extend their winning streak even on Friday with Nifty Pharma climbing to new historic highs. Heavyweight stocks have lifted the index as prospects for speedy economic recovery rises with the second surge in Covid-19 pandemic in the country easing further. New Covid-19 vaccination guidelines also took the sector on a bull run.
- At around 2.22 PM, Nifty Pharma was trading at 14,513.95 up by 200.05 points or 1.40%. The index has touched a new all-time high of 14,530.95.
- Aurobindo Pharma was the top gainer soaring by 5% on the index. Dr Reddy's Lab and Cadila Healthcare followed by surging 3.4% and 2.8% respectively. Read more
Published on: 2:18 pm
- GOCL Corporation stock clocked a new all-time high on Friday after receiving orders from major coal producer, Coal India.
- The order included the Supply of Raydets, Electronic and other Detonators and Cartridge Explosives for 2-years.
- The order is valued at Rs286.63cr. Read more
Published on: 2:16 pm
- There is no respite for the common man as fuel prices continue to rise where the state-run oil marketing companies have hiked the petrol and diesel prices again today. The petrol price has touched a record high of Rs102 for a litre in Mumbai and Rs95.85 in the national capital.
- In Mumbai, a litre of diesel is being sold at Rs94.15 for a litre and Rs86.75 for a litre in Delhi on Friday.
- According to Indian Oil Corporation, petrol has become expensive by up to 31 paise, diesel is costlier by up to 28 paise on Friday. Read more
Published on: 2:10 pm
- Nifty FMCG index was under pressure despite a modest start on Friday. The Index dropped 80 points amid overall bullish markets. Godrej Consumer and Tata Consumer led the gains while UBL and Emami dragged the sector.
- The Index was off to a flyer amid the unlocking by states and progress of vaccination programs after reduction in Covid-19 cases due to the second wave of the pandemic virus. However, the sector pulled back and joined the lackluster trade in the afternoon.
- At around 2.10 PM, Nifty FMCG was trading at 35,648.25 down 83.05 points or 0.23%, after touching a high of 35,869.65 and low of 35,589.05 during intraday trade on Friday. Read more
Published on: 2:09 pm
- Bank of Baroda (BoB) has trimmed the Marginal Cost of Funds Based Lending Rate (MCLR) for yearly, half-yearly and quarterly tenor. The new revised MCLR will come into effect from June 12, 2021.
- MCLR for a 1-year tenor will be 7.35% from tomorrow onward compared to the existing 7.40%.
- While MCLR for the six-month and three-month tenor will be 7.20% and 7.10% from June 12, against the current rate of 7.25% and 7.15% respectively. Read more
Published on: 2:00 pm
- Vishwaraj Sugar Industries has received in-principle approval for grant of interest subvention for a maximum loan amount of Rs100cr. The debt will be used for the expansion of the company's existing molasses/sugarcane syrup-based distillery.
- In its regulatory filing, Vishwaraj Sugar said, "This is to inform that the Government of India, Department of Food and Public Distribution, Directorate of Sugar & Vegetable oils, has conveyed its in-principal approval for grant of interest subvention for a maximum loan amount 100 crore Rupees for expansion of our existing molasses/ sugarcane syrup-based distillery from 100 KLPD to 250 KLpD along with Zero Liquid Discharge (ZLD) System." Read more
Published on: 1:57 pm
Financial Highlights for Year Ended March 31st, 2021:
- Total Income at Rs1225.67cr in FY21 as compared to Rs967.90cr in FY20 – growth of 26.63% yoy.
- EBITDA(incl. Other Income) at Rs228.36cr in FY21 as compared to Rs145.88cr in FY20 – growth of 56.54% yoy. Read more
Published on: 1:50 pm
- Hind Rectifiers have received board of directors approval for incorporating two subsidiaries.
- The incorporation of the first wholly-owned subsidiary with an objective to leverage the growth opportunities in the service activities and will help the Company in becoming more customer-focused.
- The incorporation of the second subsidiary with an objective to leverage the growth opportunities in the E-commerce place for B to B as well for B to C business. Read more
Published on: 1:45 pm
- State-owned Indian Bank has declared three non-performing assets (NPA) accounts having an outstanding balance of about Rs143.74cr as fraud to the Reserve Bank of India (RBI).
- According to the regulatory filing, Emmsons International with an outstanding balance of Rs131cr with Indian Bank has been declared as fraud. Also, Runit Fabrics with an outstanding balance of Rs8.23cr with the bank has been declared as fraud.
- The nature of frauds of the above-two mentioned accounts is said as 'diversion of funds'. Read more
Published on: 1:40 pm
- Nifty Media was under pressure despite a broader bullish markets on Friday. At around 1.40 pm, Nifty Media was trading at 1,880.35 down 19.75 points or 1.04%, after touching a high of 1,927.25 and low of 1,874.65 during intraday trade.
- BSE Sensex was trading at 52,476.91 up 176.44 points or 0.34% and Nifty50 at 15,781.50 up 43.75 points or 0.28%.
- TV18 Broadcast which rose nearly 15% on Thursday was under heavy pressure. It tumbled more than 3%. DB Corp also after gaining ~7% on Thursday weghed down today and plunged more than 2.5%. Inox Leisure also slipped by 1% at Rs327.00 per piece. Read more
Published on: 1:34 pm
- Cyient Limited has informed that the company has allotted 57,691 equity shares to the associates of the Company upon exercise of stock options under the extant stock options plans.
- Cyient is an Indian multinational technology company that focused on engineering, manufacturing, data analytics, and networks and operations.
- The current market cap of the company is Rs8,959.73cr. Read more
Published on: 1:33 pm
- Gujarat Pipavav Port, has further provided an update on port operations post the Cyclone Taukate. The company said that Liquid Berth at the Port has also been made operational.
- Last month, the company had already commenced partial operations on Container and Dry Bulk Berths.
- Gujarat Pipavav said that the report of the Insurance Surveyors on the quantum of damage to the Port’s assets is yet to be received. Read more
Published on: 1:30 pm
- BSE Sensex is currently 52,415.57 up 115.1 points or 0.22%.
- Nifty50 is currently 15,764.30 up 26.55 points or 0.17%. Nifty Bank is trading down 0.44% at 34,977.20 while Mid-cap Index is down by 0.15%.
- Coal India, TCS, Reliance, Power Grid, and DR Reddy’s are the top gainers while Adani Ports, SBI Life, State Bank of India, Larsen & Turbo, and Axis Bank are the top losers. Read more
Published on: 1:24 pm
- Hikal Limited has announced that the supply of Industrial Oxygen has started at the company's Taloja facility.
- In its regulatory filing, Hikal said, "Based on the availability of industrial oxygen, we have re-commenced the manufacturing at our Taloja facility for a specific product which was stopped due to non-availability of industrial oxygen."
- "We had to take a shutdown of manufacturing; however, we have kept our customer informed of the same and are working with them to make up for the shortfall in deliveries in the coming quarters," Hikal added. Read more
Published on: 1:13 pm
- CRISIL Ratings has reaffirmed its ‘CRISIL A1+’ rating on the the Commercial Paper programme of Birla Corporation Ltd .
- Additionally, CRISIL Ratings has withdrawn its long term rating on the Rs280cr NCDs of BCL on receipt of confirmation of their redemption by the debenture trustee and on the company’s request.
- The withdrawal is in line with the rating withdrawal policy of CRISIL Ratings. Read more
Published on: 1:07 pm
- Benchmark indices hit a fresh all-time high in the early morning trade with the BSE Sensex touched above 52,600 while Nifty reclaimed 15,800 to set new record highs on Friday’s trade. Reliance Industries, Power Grid, Bajaj Finance, Tech, Dr Reddy's Labs and Infosys contributed the majority gain for the rally. The BSE Sensex index touched a record high of 52,626 against the previous close of 52,300, while the Nifty50, too, scaled a fresh record of 15,835 levels against the previous close of 15,737.
- Further, Sensex has gained 10.09% or 4,816 points since the beginning of this year and risen 56.75% in one year. On the other hand, the Nifty has risen 13.24% or 1,851 points since the beginning of this year. Read more
Published on: 1:02 pm
- As benchmarks Sensex and Nifty pull back from their historic highs that were witnessed in early deals of Friday, investors favoured technology stocks on Indian exchanges amid positive global cues. Major sectoral indices pared their early gains to enter a volatile session. Notably, this was not the case with IT stocks as it has recorded a strong rally with heavyweights emerging as top picks.
- Technology stocks have been globally on a bullish note after concerns of rising inflation cooled down and expectations that consumer price pressure is likely to be transitorily resulting in scope for ongoing US central bank support. The tech-heavy Nasdaq closed at 14,020.33 up by 108.58 points or 0.78% overnight. Read more
Published on: 12:58 pm
- Solar Industries India Limited informed the exchanges Friday that the company has secured multiple orders from Coal India Limited having a contract value of approximately Rs365cr for the supply of Cartridge Explosives and Accessories over a period of two years.
- At around 1.05 PM, the company stock was trading at Rs1,650 per piece up by Rs10 or 0.61% from its previous closing of Rs1,640 per piece on the BSE. Read more
Published on: 12:50 pm
- Dhanvarsha Finvest Limited has informed the exchange regarding its fundraising plan for the year.
- The Board has considered and approved the issuance of 1,50,000 rated, secured, senior, transferable, listed, redeemable, principal protected market linked non-convertible debentures having a face value of Rs1,000 aggregating to a face value of Rs15cr at par, in dematerialised form on a private placement basis to Fourdegreewater Private Limited.
- The Debentures will be redeemed on the expiry of 24 months from the date of allotment of the Debentures. The Debentures are proposed to be allotted on 11th June, 2021. Read more
Published on: 12:50 pm
- NBCC (India) Limited stock was selling like hot property on Friday after the company on Thursday intimated about change in the Board of Directors of the company.
- The company stock was trading at Rs52.20 per piece up Rs3.40 or 6.97% on the BSE at around 12.52 pm. It hit a day's high of Rs52.70 per piece near 52-week high of Rs54 per piece. Read more
Published on: 12:48 pm
- The government has launched the Discovered Small Field (DSF) bid round-III for international competitive bidding. The launch event was attended by more than 450 participants including major E&P players, prospective new entrants and service providers.
- Dharmendra Pradhan, Minister of Petroleum & Natural Gas and Steel has asked DG, Hydrocarbons & the Petroleum Ministry to devise innovative ways for early resource monetisation, including expediting production timelines under DSF I & II. He urged that the work on DSF should be done at exponential speed and on a mission mode to monetise our natural resources for greater public welfare. He said that the inauguration of DSF bid round III is one more concrete step towards unlocking resources. Read more
Published on: 12:30 pm
- Benchmark market indices led by IT stocks continue to trade higher despite dip in momentum.
- BSE Sensex is currently 52,491.02 up 190.55 points or 0.36%.
- Nifty50 is currently 15,782.20 up 44.45 points or 0.28%. Nifty Bank is trading down 0.49% at 34,960.60 while Mid-cap Index is down by 0.14%.
- Coal India, TCS, HCL Tech, Reliance and Power Grid are the top gainers while Adani Ports, State Bank of India, SBI Life, ICICI Bank, and HDFC Life are the top losers.
- Nifty IT stocks soar 1.75% to drive the trade while Nifty Banking stocks lead the downfall.
- Out of 50 stocks traded on the NSE, 19 advanced, 30 declined and 1 unchanged. Read more
Published on: 12:30 pm
- Tata Sons-backed 100% owned subsidiary, Tata Digital has announced its plan to acquire a majority stake in digital health company 1MG Technologies (1MG). The investment in 1MG is in line with the Tata group’s vision of creating a digital ecosystem that addresses consumer needs across categories in a unified manner.
- Pratik Pal, CEO of Tata Digital, said, “The investment in 1MG strengthens Tata’s ability to provide superior customer experience and high-quality healthcare products & services in e-pharmacy and e-diagnostics space through a technology-led platform."
- Prashant Tandon, Co-Founder & CEO, 1MG, said, “We are delighted to join hands with one of India’s most iconic and respected conglomerates. This marks a significant milestone in 1MG’s journey to make high-quality healthcare products and services accessible to customers across India.” Read more
Published on: 12:21 pm
- State-owned ONGC and Oil India stock were in focus on Friday after Petroleum Minister Dharmendra Pradhan announced the government's plan to auction unmonetised large oil and gas fields of these two companies for driving India's hydrocarbon production.
- At around 12.15 PM, Oil India is trading at Rs143.35 per piece up by Rs2.70 or 1.9% on Sensex. The stock has hit a new 52-week high of Rs145.55 per piece in the early deals.
- On the contrary, ONGC has given up its early gains. The stock was among the top gainers during the opening bell and climbed to an intraday high of Rs126.55 per piece that is near the 52-week high of Rs128 per piece. Read more