Published on: 5:07 pm
- NBFC-giant, HDFC has received board of directors approval for divesting 3,55,67,724 equity shares of 10 each, representing 4.99% of the outstanding issued and paid-up share capital of general insurance arm, HDFC ERGO to subsidiary HDFC Bank a price determined based on an independent valuation report. HDFC Bank has also bagged boards approval for the same.
- HDFC Bank has been a long term distribution partner of HDFC ERGO, sharing a successful relationship since 2009.
- HDFC said that the proposed transaction will help align the interest of HDFC Bank and HDFC ERGO, which is thereby expected to further accelerate the profitable growth of HDFC ERGO leading to additional long-term value creation for all its shareholders. Read more
Published on: 5:01 pm
- Arihant Superstructures recorded a net profit at Rs13.48cr, up 95.36% in the quarter ended March 2021 as against Rs6.90cr during the previous quarter ended March 2020.
- The sales also increased by 105.82% to Rs123.84cr in the quarter ended March 2021 as against Rs60.17cr during the previous quarter ended March 2020.
- The company have approved the appointment of M/s D. A. Kamat & Co, Company Secretaries, Mumbai as the Secretarial Auditors of the Company for the Financial Year 2021-22. Read more
Published on: 4:55 pm
- Kemistar Corporation Limited, through a wholly-owned subsidiary, K P International Private Limited has announced the expansion of 1800 MTPA of Sulfonated Product having a capacity of 1200 MTPA at a plant situated at Dahej, Bharuch which is a chemical hub of Asia.
- According to the Kemistar Corp, this will opens up new intensification areas for the Company in the future. In addition to this, an increase in productivity and efficiency after expansion may lead to higher margins for the company. Read more
Published on: 4:47 pm
- Centrum Capital has announced that the Reserve Bank of India (RBI) has issued an In-principle approval to Centrum Financial Services Limited (Centrum), the established and profitable NBFC arm of the Centrum Group, to establish a Small Finance Bank (SFB). Resilient Innovations Private Limited (BharatPe), one of India's fastest-growing fintech companies, will be an equal partner.
- Jaspal Bindra, Executive Chairman, Centrum Group, said “We are delighted that a new banking license will be issued to an NBFC after a gap of nearly 6 years and would like to thank the RBI for the opportunity and confidence shown in us. We are excited to partner with BharatPe to create this new age bank, with a strong team.” Read more
Published on: 4:46 pm
- Gujarat Pipavav Port Limited has appointed Samir Chaturvedi an Independent Director of the Company, as a Member of its Risk Management Committee.
- The Risk Management Committee now comprises four Members. All of them are Directors of the Company and one of them is an Independent Director, the company said in the filing on June 19.
- The Company shall continue to comply with the requirements under Regulation 21 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, regarding the composition of the Risk Management Committee. Read more
Published on: 4:42 pm
- Jubilant FoodWorks Limited (JFL), the master franchisee of Domino’s Pizza, India’s largest pizza chain, has joined hands with cricketer Virender Sehwag’s Foundation (VSF) as a delivery partner for providing free meals to COVID-19 patients in Delhi/ NCR.
- Under this initiative, Domino’s Safe Delivery Experts (SDE) are facilitating Zero Contact Delivery of homemade food prepared and packaged by Virender Sehwag Foundation to COVID patients at home and in COVID care centres.
- Through this partnership, Domino’s and Sehwag Foundation together have delivered around 21000 home-cooked meals, last month, to COVID-19 affected people. Read more
Published on: 4:41 pm
- Karur Vysya Bank has donated 10 ambulances to Tamil Nadu Health Systems Project to fight the COVID pandemic. The ambulances were flagged off by Thiru M.K. Stalin, Hon’ble Chief Minister of Tamil Nadu at the Secretariat.
- The ambulances will be deployed for COVID relief activities across the state, 2 for use in the plains and 8 for use in hilly regions. This contribution is being implemented by the bank under its CSR initiatives at a budget of Rs1.77cr.
- Thiru Ma. Subramanian, Hon’ble Minister for Medical and Family Welfare and Thiru V. Senthilbalaji, Hon’ble Minister for Electricity, Prohibition and Excise, participated. Also present were Chief Secretary to Government, Dr. V IraiAnbu, IAS and Thiru J Radhakrishnan, IAS, Principal Secretary to Government. Read more
Published on: 4:39 pm
- Karnataka Bank has declared a loan amounting to Rs160.35cr cumulatively in two companies as fraud to RBI. These two firms are - Reliance Home Finance and Reliance Commercial Finance.
- The bank's outstanding amount of Rs21.94cr in Reliance Home and Rs138.41cr in Reliance Commercial will be treated as fraud.
- The bank said that both the accounts were classified as and have been fully provided for. As such, there is no impact on the financials of the Bank going forward. Read more
Published on: 4:34 pm
- Bharti Airtel and Tata Group, today announced a strategic partnership for implementing 5G networks solutions for India. Tata Group has developed a ‘state of the art’ O-RAN based Radio & NSA/SA Core and has integrated a totally indigenous telecom stack, leveraging the Group capabilities and that of its partners. This will be available for commercial development starting Jan 2022.
- Tata Group owned Tata Consultancy Services (TCS) brings its global system integration expertise and helps align the end-to-end solution to both 3GPP and O-RAN standards, as the network and equipment are increasingly embedded into the software, company said.
- Airtel will pilot and deploy this indigenous solution as part of its 5G rollout plans in India and start the pilot in January 2022, as per the guidelines formulated by the Government of India. Read more
Published on: 4:31 pm
- Savita Oil Technologies Ltd has informed that Vishal Sood has been appointed as President – Lubricant Division, and will be taking over the reins from Sunil Aima, CEO of Lubricant Division who retired from the Company on 18th June, 2021.
- Sood shall be responsible for both automotive and industrial lubricants and will be reporting to the Managing Director.
- Vishal Sood holds a Masters Degree in Business Administration (Marketing) & B.E. Degree in Mechanical Engineering and brings with himself more than 28 years of experience in Sales, Marketing, CRM, Logistics and Business Development. Read more
Published on: 4:30 pm
- USFDA had inspected the Alkem Laboratories manufacturing facility located in St. Louis, USA. The inspection was carried between June 14 to June 18 this year.
- By the end of the inspection, Alkem received Form 483 with two (2) observations.
- Alkem said that the Company shall submit to US FDA within the stipulated timeline, a detailed response to close out all the observations associated with this inspection. Read more
Published on: 4:28 pm
- Symphony said in the filing that the Board of Directors, at its meeting held on June 19, 2021, based on the recommendation of nomination and remuneration committee, has consented and proposed that Mr. Amit Kumar be appointed as an Executive Director and Group CEO of the Company for a period of five years with effect from August 2, 2021.
- The appointment of Mr. Amit Kumar is subject to the approval of the shareholders of the Company in their ensuing general meeting and also in compliance with the provisions of Sections 152, 196, 197, 203 and other applicable provisions, if any, of the Companies Act, 2013 (as amended) read with Schedule V thereto and SEBI Listing Regulations, the company said in the regulatory filing. Read more
Published on: 4:23 pm
- Trident received Gold Trophy in the category of Highest Global Exports by “The Cotton Textiles Export Promotion Council (TEXPROCIL)” at its virtual Export Award function, conducted in the presence of Honorable Minister of Textiles & Women and Child Development, Smriti Zubin Irani as Chief Guest.
- The awards were presented to the outstanding export performers in the Cotton Textile Industry.
- TEXPROCIL, established in 1954, is a Government of India sponsored Export Promotion Council, dedicated to the promotion of exports. TEXPROCIL has been the international face of cotton textiles from India, facilitating exports worldwide. Read more
Published on: 4:17 pm
- DCW Limited announced that the leading credit rating agency, India Ratings & Research has upgraded and assigned ratings ‘BBB+’ indicating a ‘Stable’ outlook for the Company.
- Vivek Jain, Managing Director, DCW Ltd. said, “The rating upgrade by the India Ratings and Research is a testament of DCW’s improving financial and operating performance. The upgradation from BBB to BBB+, in such a challenging environment, is reflective of the confidence in the company’s business model and execution capabilities. DCW’s primary focus on Speciality Chemical, and continuous improvement in the capacity utilization, will enhance stakeholders’ confidence in the company’s ability to significantly scale-up operations in the future.” Read more
Published on: 4:16 pm
- MOIL Limited has got clearance from MoEF&CC for a grant of EC of 1.02 lakh MTPA (including mineral rejects of 0.05 lakh MTPA). Maharashtra Government had reserved an area of 814.71 HA in favour of MOIL for prospecting of manganese ore in Nagpur (Gumgaon) and Bhandara (Khodegaon) districts.
- After exploration and requisite clearances, application for environment clearance (EC) was submitted in respect of 126.84 HA. area, which is adjacent to MOIL’s Gumgaon mine.
- “As the resources identified are available at a depth of more than 200 meters from the surface, underground mining will have to be resorted to. In view of this, MOIL is going ahead with purchase of land for the mine and getting other statutory clearances. Read more
Published on: 4:13 pm
- Aditya Birla Fashion and Retail (ABFRL) has acquired an additional 7.69% in Finesse, thereby taking its overall shareholding to 58.69% in the latter.
- Earlier, ABFRL had acquired a 51% stake in Finesse, a Company engaged in business concerning the brand 'Shantanu & Nikhil', thereby making it a subsidiary of the Company.
- The company acquired additional stakes in Finese by further investment in the Rights Issue of Finesse. Read more
Published on: 4:12 pm
- Astron Paper & Board Mill Ltd has inform that earlier the Company had requested the concerned government authorities for issuance of environment clearance.
- Presently the company has received “Environment Clearance” from Gujarat Pollution Control Board, Gujarat with respect to propose 10 MW power plant at Unit-1 located at Halvad, Gujarat.
- Environment Clearance is basic approval to check the environment impact surround plant location and viability along with rules and regulations. Read more
Published on: 3:54 pm
- B.L. Kashyap and Sons Limited one of the leading Civil Engineering and Construction Company has secured new orders from domestic unrelated client aggregating to Rs135cr approx.
- The Construction of Civil, Structure and Rough Finishing work of AIPL Joy Gallery Project at Sector-66, Gurgaon worth Rs135cr.
- The total order inflow during the FY2021-22 stands at Rs135cr, the company said in the filing. Read more
Published on: 3:53 pm
- GMR Infrastructure stock hit a new 52-week high on Monday after the company's net loss narrowed to Rs725cr in the fourth quarter ending March 2021 (Q4FY21) against a net loss of Rs1,127cr a year ago same period. Q4 loss also narrowed from Rs1,119cr of the preceding quarter.
- The company's gross revenue was at Rs2,321cr in Q4FY21 slightly lower from Rs2,349cr of Q4FY20 but higher from Rs1,481cr of Q3FY21.
- GMR in its audit report highlighted that since May 2020, when the restrictions were lifted on operations of domestic flights, airports business saw significant traction in traffic. February 2021 was the best month post first wave of covid when the passenger traffic reached 60% of pre-covid levels at Delhi Airport and 64% at Hyderabad airport and this was achieved under an environment of restricted airline capacity enforced by the Government. Read more
Published on: 3:52 pm
- Datamatics Global Services Limited, today announced that it has won IMC Digital Technology Awards 2020 for its Digital Workplace solution in IT Services category. Datamatics won the awards for helping UTI Asset Management Company (AMC) to set up a paperless Digital Workplace in record time amid a pandemic.
- Datamatics provided an enterprise-wide Digital Workplace solution based on OpenText Documentum to UTI AMC. It enabled data transparency, and higher productivity leading to better turnaround time and a significant reduction in operational costs.
- The solution helped UTI AMC in optimum utilization of space and promotes a clean office environment. It helped the client digitize 200,000+ documents which gave better traceability as well as accountability. Read more
Published on: 3:41 pm
- Capacite Infraprojects Ltd has informed that the the Promoter and Promoter Group have sold 34,93,297 shares amounting to Rs70.56cr.
- The selling shareholders have informed that the purpose of the share sale was for meeting their social obligations and towards reducing the debt at personal level. Read more
Published on: 3:40 pm
- Markets witnessed a volatile day of trade as the pendulum swings weighed in.
- Both Bank Nifty and the Nifty index closed higher around its intraday highs, recovering its entire first half loses during the second half of the trade.
- Banking stocks were among the top outperformer with stocks like SBI, ICICI Bank & HDFC Bank closing at intraday highs as heavy short covering weighed in. Read more
Published on: 3:37 pm
- Adani Group, Chairman, Gautam Adani believes that India will be a five-trillion dollar economy and not just that the country will emerge as one of the largest global markets by earmarking a 15-trillion-dollar-plus economy over the next two decades.
- In the annual report for FY21 of the Group, Adani said, "India will be a five-trillion-dollar economy and will then go on to be a 15-trillion dollar-plus economy over the next two decades, emerging as one of the largest global markets in terms of consumption size and market capitalisation."
- He said, "There will be bumps along the road, as has been the case in the past, and is expected to be the case in the future. However, there cannot be any doubt that the largest middle-class that will ever exist, augmented by an increase in the working-age and consuming population share will have a positive impact on India’s growth rates very much in line with the demographic dividend India enjoys." Read more
Published on: 3:35 pm
- Prism Johnson Limited informed the exchanges Friday that ICRA Limited has assigned a long-term rating of ICRA A+ on the debt of erstwhile Silica Ceramica Private Limited which was recently transferred to the books of the Company pursuant to the Composite Scheme of Arrangement and Amalgamation.
- The credit rating agency has rated Non-Convertible Debentures (NCDs) worth Rs50cr at ICRA A+ with Stable outlook. Read more
Published on: 3:15 pm
- Adani Group stocks were in the fast lane despite a volatile markets trend on Monday. After a free fall for most of last week, Adani Group stocks have finally seen a revival after the Group presented the annual report for FY21.
- At around 3.08 pm, Adani Enterprises was trading at Rs1558.30 per piece up by Rs70.45 or 4.74% on Sensex. Adani Ports climbed 5.4% at Rs744.90 per piece.
- Meanwhile, other Adani stocks such as Adani Power, Adani Transmission, Adani Green Energy and Adani Total Gas hit 5% upper circuit. Read more
Published on: 3:10 pm
- N R Agarwal Industries Ltd has informed to the exchange regarding temporarily suspension of operations.
- "The production at Unit 5 (Writing & Printing) of the Company has been temporarily suspended due to shortage of market orders with effect from 22nd June, 2021 to 5th July, 2021", as mentioned by the company in a regulatory filing.
- The current market cap of the company is Rs389.06cr Read more
Published on: 2:58 pm
- Route Mobile Limited announced a technology partnership with Truecaller with this agreement allows Route Mobile to provide enhanced business identification services to enterprises for building a trustworthy business communication ecosystem.
- With the Truecaller Verified Business Caller ID and configuration capabilities, Route Mobile can empower enterprises to increase their customer outreach and servicing efforts and improve response rates. This feature also aids brand recognition by providing an effective way for businesses to personalize the alert with logos and contextual information about their business, allowing their users to get the complete context before they decide to act on the call. Using the Truecaller Verified Business Caller ID, an enterprise can drive higher customer satisfaction and call efficiency. Read more
Published on: 2:50 pm
- With the recovery in broader markets during the second half of Monday's trading session, the Bank Nifty index also picked gaining momentum. A broad-based buying was recorded with exception of ICICI Bank. The index has hovered between intraday high and low of 34,847.45 and 34,847.45 during the day.
- At around 2.44 pm, Bank Nifty was performing at 34,831.05 higher by 273.05 points or 0.79%.
- ICICI Bank was the only laggard, however, with a marginal downside. The performance comes despite S&P Global Ratings revising its rating outlook on the private lender, ICICI Bank to 'Stable' from the previous 'Negative'. However, the rating agency has affirmed its 'BBB-' long-term and 'A-3' short-term issuer credit ratings on the India-based bank. Also, S&P affirmed 'BBB-' long-term issue rating on ICICI Bank's senior notes. Read more
Published on: 2:42 pm
- FMCG-major, Hindustan Unilever (HUL) which is also the index heavyweight on Indian markets, hit a new record level on Monday ahead of its annual general meeting.
- In the early deals, HUL touched a new 52-week high of Rs2528.70 per piece on Sensex.
- The stock traded near its fresh record level. Read more
Published on: 2:35 pm
- Yasho Industries Ltd, a leading Indian global manufacturer & supplier of specialty and fine chemicals has announced that the Board of Directors of the company has approved the capex upto Rs10cr for enhancement of capacity from 9,200 MTPA to 11,000 MTPA through de-bottlenecking and additional ancillary equipments.
- The said expansion is expected to commercialize by Q3FY22.
- Parag Jhaveri, Managing Director & CEO, Yasho Industries Limited said, “Looking at the current demand for our range of products, we are incurring a Capex of upto Rs10cr to enhance our existing capacity by 1,800 MTPA through debottlenecking. For FY21, we were running at ~84% capacity utilisation at our Vapi facilities. Read more
Published on: 2:30 pm
- Indices led by PSU Bank stocks rally in the afternoon.
- BSE Sensex is currently 15,718.00 up 34.65 points or 0.22%.
- Nifty50 is currently 52,483.92 up 139.47 points or 0.27%. Nifty Bank is trading up 0.49% at 34,727.95 while Mid-cap Index is up by 0.49%. Read more
Published on: 2:15 pm
- The Rating Committee of CARE Ratings, after due consideration, has reviewed the credit ratings on Rs2,400cr total facilities of Phillips Carbon Black Limited. The rating on the company’s long-term bank facilities Rs550cr has been revised to CARE AA with a Stable outlook from CARE AA-; Stable.
- The rating on long-term / short-term bank facilities Rs1,850cr CARE AA; Stable/CARE A1+ was revised from CARE AA-; Stable / CARE A1+. Read more
Published on: 2:05 pm
- The Nifty Pharma stocks were steady after a gap-down start on Monday. The pharma index was marginally higher with Cadila and Biocon lifting performance, while Alkem Lab and Dr Reddy’s were underpressure in the afternoon trade.
- At around 2.05 PM, the Nifty Pharma was trading at , touching a high of 14,055.95 and low of 13,899.65 during intraday trade on Monday. BSE
- Meanwhile, BSE Sensex was trading at 52,361.15 up 16.70 points or 0.03% and the Nifty50 at 15,686.20 up 2.85 points or 0.02%. Read more
Published on: 2:00 pm
- Phillips Carbon Black Ltd has informed that the Company has commissioned 8 MW Power Plant at Mundra, in Gujarat.
- Phillips Carbon Black Limited, a part of RP-Sanjiv Goenka Group, is India's largest carbon black producer and exporter in India.
- The Company has a turnover of Rs3548cr, and four strategically located state-of-the-art plants at Durgapur, Palej, Cochin and Mundra. Read more
Published on: 1:50 pm
- IT company stocks have taken a different route, unlike volatile broader markets. Although, Sensex and Nifty have recovered their early losses yet IT stocks continued to trade on its bearish stance that has been held since the start of Monday's session. Nifty IT index was under pressure as heavyweight stocks such as TCS and Wipro entered into a steep fall. Investors booked profit in growth stocks as they looked overbought, however, technology stocks continue to be among top picks.
- At around 1.40 pm, Nifty IT was trading at 28,359.55 lower by 86.05 points or 0.30%. The index has touched an intraday high and low of 28,367.95 and 28,083.75 respectively.
- Oracle Financial Services took lead in the gaining list surging by 1.4% followed by Coforge and HCL Tech advancing by 0.6% and 0.5% respectively. Read more
Published on: 1:44 pm
- The Indian rupee dropped at 74.20 against the US dollar in opening trade tracking the strengthening of the American currency and weak domestic equities. Besides, rising crude oil prices also weighed on the local unit.
- At the interbank foreign exchange, the rupee trading lower on Monday at 74.11 against the dollar, registering a fall of 25 paise over its previous close.
- On Friday, the rupee had settled at 73.86 against the US dollar. Read more
Published on: 1:40 pm
- Srei Equipment Finance Limited (SEFL), a subsidiary of Srei Infrastructure Finance Limited has received interest for an investment of an aggregate amount of Rs2,000cr from Arena Investors LP (Arena), USA, and its consortium and their affiliates indicating interest for Investment.
- “Strategic Coordination Committee has received a Term Sheet from Arena Investors LP (Arena), the USA and its consortium and their affiliates indicating interest for investment of an aggregate amount of Rs2,000cr subject to the terms and conditions contained in the said Term Sheet."
- "The Strategic Coordination Committee, chaired by an Independent Director, will evaluate the said offer and make the recommendation to the Board of the company,” SEFL said. Read more
Published on: 1:35 pm
- In the annual report for financial year FY21, Wipro CEO Thierry Delaporte said that for a long the company has been helping customers navigate the full spectrum of IT transformation.
- He said Wipro's ability to deliver change is underpinned by three core components. The first is Technology, which is at the heart of all transformation. Next is Talent, which drives our technological engine. The third is Trust, without it a partnership cannot be expected to thrive.
- On the industry level, Delaporte said, "We know that industry growth will largely be led by next-generation technologies and services. We can therefore expect to see huge incremental growth in areas such as Digital, Cloud, Data, Engineering, Cybersecurity." Read more
Published on: 1:30 pm
- BSE Sensex is currently 15,689.55 up 6.20 points or 0.04%.
- Nifty50 is currently 52,379.76 up 35.31 points or 0.07%. Nifty Bank is trading up 0.18% at 34,621.40 while Mid-cap Index is up by 0.40%.
- Adani Ports, NTPC, HUL, UltraTech Cement, and Asian Paints are the top gainers while UPL, Wipro, Hindalco, Tata Motors, and M&M are the top losers. Read more
Published on: 1:25 pm
Quarter Ended on 31st March, 2021
- Billing at Rs415.7cr, up by 25.2% over the corresponding quarter in FY 2019-20.
- Net sales (Revenue) at Rs290.0cr, down by 10.2% over the corresponding quarter in FY 2019-20. Read more
Published on: 1:19 pm
- Nandan Nilekani, the non-executive chairman of Infosys said that the company is well-positioned for a market-leading performance for another year. Nilekani said in his chairman speech to shareholders in Infosys 40th Annual General Meeting (2021).
- Nilekani said, "While a challenging 2020 has ushered in 2021 fraught with uncertainty, one thing is clearly evident: Infosys is well-positioned for another year of market-leading performance in a post-pandemic, cloud-first, distinctly digital era." Read more
Published on: 1:10 pm
- Nifty Media bucked the markets bearish trend to advance over 1.5% on Monday. TV18 Broadcast and Network18 led the gains, while Sun TV and Dish TV also advanced over 2.7%. PVR and DB Corp were under pressure.
- At around 1.10 PM, Nifty Media was trading at 1,883.60 up 29.65 points or 1.60%, touching a high of 1,890.25 and low of 1,816.05 during intraday trade on Monday. BSE Sensex was trading at 52,342.78 down 1.67 points or 0.00% Nifty50 at 15,686.35 up 3.00 points or 0.02%. Read more
Published on: 1:08 pm
- India Ratings and Research (Ind-Ra) has affirmed Aavas Financiers Limited’s Short-Term debt at ‘IND A1+’.
- The rating continues to reflect Aavas’ healthy credit profile, driven by an established competitive franchise in the retail affordable housing space in its key operating geographies.
- Furthermore, the entity has well-diversified funding, adequate liquidity, sizeable capital base and strong risk management. Even though fairly high growth has resulted in a loan book with significant share of recent originations, Aavas’ focus on individual loans and avoiding builder-led disbursements provides comfort. Read more
Published on: 1:06 pm
- S&P Global Ratings have revised its rating outlook on the private lender, ICICI Bank to 'Stable' from the previous 'Negative'. However, the rating agency has affirmed its 'BBB-' long-term and 'A-3' short-term issuer credit ratings on the India-based bank. Also, S&P affirmed 'BBB-' long-term issue rating on ICICI Bank's senior notes.
- In its rating rationale, S&P said, "We revised the rating outlook to reflect our view that ICICI Bank will maintain its strong capital position over the next 24 months. The bank will benefit from the sale of a stake in subsidiaries and gradual normalization of earnings, which should reduce risks associated with its capital position." Read more
Published on: 1:02 pm
- For the Mar-21 quarter, Ashoka Buildcon reported a net profit of Rs142.46cr as compared to a net profit of Rs134.56cr in the Mar-20 quarter. While top-line sales and other income provided the big boost, this was largely offset by a 40% spike in raw material costs during the Mar-21 quarter.
- It has reported 9.55% higher consolidated net revenues for the Mar-21 quarter at Rs1,735.57cr. On a sequential basis, net sales revenues were up 32.94% compared to total revenues in the Dec-20 quarter at Rs1,305.49cr.
- Full-year revenues for FY21 were -1.6% lower at Rs4,992cr. The net profits for the full year were up 70.5% at Rs273.5cr. During the quarter, Ashoka Buildcon acquired a 49% stake in Ashoka Highways Bhandara Ltd for Rs35.98cr, which has been proportionately included in the quarter. Read more
Published on: 12:55 pm
- Ashok Leyland Ltd said in the regulatory filing that the Board of Directors of the Company at the meeting scheduled to be held on June 24, 2021, may consider and recommend dividend, if any, on the equity shares of the Company for the financial year ended March 31, 2021.
- Further, shares of Ashok Leyland Ltd. fell the most in nearly two months on Friday after Credit Suisse has downgraded the stock citing poor recovery of commercial vehicle sales.
- As per media reports, the research firm lowered its rating on the stock to ‘neutral’ from ‘outperform’, and cut its 12-month target price to Rs114 from Rs161, implying a 6% downside from Thursday's closing price. Read More
Published on: 12:51 pm
- Zee Entertainment Enterprises Ltd has clarified to the exchange on Monday regarding news item appearing in media websites informing about a potential merger of Viacom18 and Zee Entertainment through a share swap deal.
- Company confirmed in a regulatory filing that that there is no such transaction being undertaken and the matter is speculative in nature.
- On Monday, the scrip opened at Rs219 and has touched a high and low of Rs224.05 apiece and Rs216.15 apiece respectively during early trading hours. The current market cap of the company is Rs21,304.24cr. Read more
Published on: 12:48 pm
- FMCG stocks escaped a broader bearish markets tone on Monday as consumer sentiments improve with lockdown restrictions being lifted in some states. Further, the sentiments in FMCG stocks were boosted due to monsoon onset and decline in Coronavirus cases. Index heavyweight Hindustan Unilever outshined and even hit a new record high. Other major stocks also lifted the sector.
- At around 12.40 pm, Nifty FMCG was trading at 36,295.40 up by 8.25 points or 0.02%. The index has recorded a new lifetime high of 36,456.15.
- United Breweries was the top gainer soaring by 4.5% followed by HUL advancing by 1%. Both the stock has touched a new all-time high with UBL at Rs1,455 per piece and HUL at Rs2,522.95 per piece in the early deals. Read more
Published on: 12:30 pm
- Benchmark market indices trim early losses but continue to trade 0.38% lower in the noon trade.
- BSE Sensex is currently 52,146.89 down 197.56 points or 0.38%.
- Nifty50 is currently 15,623.70 down 59.65 points or 0.38%. Nifty Bank is trading down 0.60% at 34,351.85 while Mid-cap Index is up by 0.06%.
- Adani Ports, NTPC, UltraTech Cement, Asian Paints, and HUL are the top gainers while UPL, M&M, Wipro, Tata Motors and Hindalco are the top losers.
- Nifty IT Auto, Banking and Financial Services stocks struggle while Nifty Media and Realty stocks are bullish. Nifty Pharma and Metal stocks trade flat.
- Out of 50 stocks traded on the NSE, 23 advanced and 29 declined. Read more
Published on: 12:28 pm
- Maruti Suzuki India Ltd (MSIL) said in the regulatory filing that it will increase the prices of its cars from July. The auto manufacturer said that it has become imperative to pass on some impact of additional cost to customers.
- “This is to inform you that over the past year the cost of the Company's vehicles continues to be adversely impacted due to an increase in various input costs. Hence, it has become imperative for the Company to pass on some impact of the above additional cost to customers through a price rise,” the company said in the filing.
- The price rise has been planned in quarter 2 and the increase shall vary for different models, Maruti said. Read more