Live market updates

28th Jun, 2021

Antony Waste Handling consolidated net profit of Rs11.75cr in Q4

Published on: 5:24 pm

  • Antony Waste Handling Cell reported a net profit of Rs11.75cr in the quarter ended March 2021 as against a net loss of Rs7.65cr during the previous quarter ended March 2020.
  • The sales rose 13.53% to Rs134.17cr in the quarter ended March 2021 as against Rs118.18cr during the previous quarter ended March 2020. Read more

Strides Pharma completes EU GMP inspection at Puducherry facility

Published on: 5:21 pm

  • Strides Pharma Science on Monday announced the successful completion of the EU GMP inspection carried out by the National Institute of Pharmacy and Nutrition (OGYÉI), Hungry at its Puducherry facility.
  • Dr R. Ananthanarayanan, Managing Director & CEO, remarked “We are pleased with the positive outcome of the recent EU GMP inspection at our Puducherry facility. The positive result of this inspection underscores our commitment to regulatory excellence at our global manufacturing sites. We stay focused on getting the facility reclassified with the USFDA."
  • The Company has now received the renewed GMP (Good Manufacturing Practices) certificate thereby confirming the successful closure of the inspection. The company in August 2020 had also announced the successful completion of the UK MHRA inspection at the site. Read more

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SJVN Q4 net profit up 55.3% at Rs619.92cr; stock ends higher

Published on: 5:18 pm

  • SJVN Ltd reported net profits in the Mar-21 quarter up 55.29% at Rs619.92cr largely on a sharp improvement in other income from the surcharge and also lower finance charges. The profit growth would actually have been much higher but the company had a tax credit in the Mar-20 quarter which subdued the profit growth on a yoy basis.
  • The shares ended at Rs28.85 up by Rs0.15 or 0.52% from their previous closing of Rs28.70 on the BSE. The scrip opened at Rs29.20 and touched a high and low of Rs29.40 and Rs28.70 respectively.
  • The company’s posted a 54.17% higher consolidated revenues for the Mar-21 quarter at Rs1,084.96cr. On a sequential basis, net sales revenues were up 103.34% compared to total revenues in the Dec-20 quarter at Rs533.57cr. Read more

Power Mech Projects bags Rs9,294cr Mine Development and Operation project from Coal India

Published on: 5:15 pm

  • Power Mech Projects has been awarded a Mine Development & Operation (MOO) project from Central Coalfields Limited (CCL), a subsidiary of Coal India aggregating to Rs9,294cr  over the contract period.
  • According to the regulatory filing, the MOO contract will primarily comprise of mine infrastructure development, removal of overburden and extraction of Coking Coal, processing, crushing and transportation of coal up to washery of CCL, carrying out R&R activities and any other activities incidental to mining as per the project document at Kotre Basantpur Pachmo OCP located in Ramgarh and Bokaro Districts, Jharkhand. Read more

Vikas Lifecare announces completion of registration process under Ethanol Production Promotion Polic

Published on: 5:10 pm

Vikas Lifecare Limited has announced the completion of registration process under the Ethanol Production Promotion Policy 2021, of Bihar State Government, which supplements the "National Biofuels Policy 2018" of the Government of lndia for setting up "Ethenol" Manufacturing Unit in strategic location in district Bhagatpur, Bihar with initial installed capacity of 60KL per-day, to expand its operations in the organic chemicals business.

'National Biofuels Policy 2018'
lndia has a long-standing Ethanot blending program (to the conventional fossil fuels - Petrol and Diesel). The "National Biofuels Policy, 2O18" mandates to blend 5% Ethanol to Diesel and up to 20% Ethanol in Petrol by 2030. Read more

Piramal Enterprises to raise up to Rs1,000cr via NCDs

Published on: 5:05 pm

  • Piramal Enterprises board approved the issue of Secured, Rated, Listed, Redeemable Principal Protected, Market Linked Non-Convertible Debentures (‘Debentures’) on a private placement basis.
  • The size of the issue is Rs100cr with an option to retain oversubscription up to Rs900cr. Thus, the total issue size is at Rs1,000cr.
  • The company's debentures are proposed to be listed on the Debt Segment of the National Stock Exchange of India Limited. Read more

RCom records consolidated net loss of Rs1518cr in Q4

Published on: 5:03 pm

  • Reliance Communications reported a net loss of Rs1518cr in the quarter ended March 2021 as against a net loss of Rs1549cr during the previous quarter ended March 2020.
  • The sales also declined 31.13% to Rs177cr in the quarter ended March 2021 as against Rs257cr during the previous quarter ended March 2020. Read more

Vikas Proppant & Granite to diversify biz into real estate and construction sector, forms new ma

Published on: 4:57 pm

  • Vikas Proppant & Granite has intimated shareholders that a professionally efficient and well-qualified team of directors has taken charge of day to day business affairs of the Company.
  • In its regulatory filing, Vikas Proppant said that the business expertise, executive brilliance and professional experience of this team would lead the way towards substantial growth and a lucrative future for the company. This pragmatic change would help the smoother functioning of the Company in a constructive way forward and boost confidence amongst all the stakeholders. Read more

Repco Home Finance Q4 net up 16.28% yoy; stock ends 2% higher

Published on: 4:57 pm

  • Repco Home Finance Ltd reported 3.60% lower consolidated revenues for the Mar-21 quarter at Rs333.15cr. On a sequential basis, net sales revenues were down 6.06% compared to total revenues in the Dec-20 quarter at Rs354.63cr.
  • The company’s net profit in the Mar-21 quarter was up 16.28% at Rs65cr. This was largely on the back of yoy EBITDA growth that was driven by lower interest costs and also lower impairment and bad debt costs in the Mar-21 quarter. The company also gained in the quarter from a higher level of other income and cost controls implemented.
  • The stock ended at Rs376 up by Rs7.9 or 2.15% from its previous closing of Rs368.10 on the BSE. The scrip opened at Rs372 and has touched a high and low of Rs380 and Rs370.65 respectively. Read more

FinMin releases public debt management report for Q4, Gsec rises multifold to Rs3,20,349cr

Published on: 4:52 pm

  • The Finance Ministry has announced public debt management report for the quarter between January - March 2021. Since April-June (Q1) 2010-11, Public Debt Management Cell (PDMC), Budget Division, Department of Economic Affairs, Ministry of Finance, has been bringing out a quarterly report on debt management regularly.
  • According to the ministry data, in Q4FY21, the Central Government issued dated securities worth Rs 3,20,349 crore as against Rs 76,000 crore in Q4 of FY20, while repayment was at Rs 29,145 crore. The weighted average yield of primary issuances increased to 5.80 per cent in Q4 FY21 from 5.68 per cent in Q3 of FY21. The weighted average maturity of new issuances of dated securities was lower at 13.36 years in Q4 of FY21 as compared to 14.96 years in Q3 of FY21. Read more

Wardwizard Innovations aims to sell 9k -10k Electric Vehicles this year in Gujarat

Published on: 4:50 pm

  • To strengthen government’s vision in promoting electric vehicles and controlling carbon footprints in environment, Wardwizard Innovations and Mobility Ltd has announced its sales expansion strategy in Gujarat.
  • The recently announced Electric Vehicle Policy-2021 by the state government of Gujarat has declared multiple incentives and initiatives for the EV customers and manufacturers both.
  • The strong will-power of the government to bring a revolutionary evolvement in the sector of mobility is certainly going to impact the EV market. Considering the initiative and opportunity Wardwizard sets a target of selling more than 9k — 10k vehicles in the state including both high and low-speed models. Read more

Goldman Sachs, ICICI Prudential, Nippon Life among investors to subscribe Brigade Enterprises QIP is

Published on: 4:45 pm

  • Brigade Enterprises has announced that the board of directors committee approved the allotment of 1,86,56,716 shares to eligible qualified institutional buyers (QIB) at an issue price of Rs268 per share aggregating to Rs499.99cr. The issue also takes into account a discount of 3.07% to the floor price of Rs276.50 per share.
  • Among the QIBs were - SBI Large & Midcap Fund and SBI Contra Fund subscribed to 9% each in the total size of QIP issue. Axis Mutual Funds subscribed to 11.59% of the total size.
  • Goldman Sachs and ICICI Prudential Focused Equity Fund subscribed 7.6% and 7.2% respectively. Read more

Lambodhara Textiles logs standalone PAT of Rs6.5cr in Q4, board recommends final dividend

Published on: 4:44 pm

  • Lambodhara Textiles shares ended higher by 7% after the company’s net profit jumped by 1038.60% to Rs6.49cr in the quarter ended March 2021. The company posted profit at Rs0.57cr during the previous quarter ended March 2020.
  • The sales rose 1.44% to Rs41.60cr in the quarter ended March 2021 as against Rs41.01cr during the previous quarter ended March 2020.
  • The Board of Directors on June 25 have recommended the final dividend of Rs1 per equity Share (i.e. 20%), subject to the approval of the shareholders. Read more

Lambodhara Textiles logs standalone PAT of Rs6.5cr in Q4, board recommends final dividend

Published on: 4:44 pm

  • Lambodhara Textiles shares ended higher by 7% after the company’s net profit jumped by 1038.60% to Rs6.49cr in the quarter ended March 2021. The company posted profit at Rs0.57cr during the previous quarter ended March 2020.
  • The sales rose 1.44% to Rs41.60cr in the quarter ended March 2021 as against Rs41.01cr during the previous quarter ended March 2020.
  • The Board of Directors on June 25 have recommended the final dividend of Rs1 per equity Share (i.e. 20%), subject to the approval of the shareholders. Read more

Goldiam Group gets additional export orders worth Rs40cr from international clients

Published on: 4:40 pm

  • Goldiam International Limited informed the exchanges Monday that Goldiam Group has received confirmed additional Export Orders worth Rs40cr from its International clients for manufacturing of diamond-studded designed gold and lab-grown diamonds jewellery.
  • “The aforesaid order will be delivered within 4 months,” the company said. Read more

Tamil Nadu Newsprint & Papers reports net loss of Rs3.93cr in Q4

Published on: 4:35 pm

  • Tamil Nadu Newsprint & Papers reported a net loss of Rs3.93cr in the quarter ended March 2021 as against a net profit of Rs1.84cr during the previous quarter ended March 2020.
  • TNPL reported total revenue of Rs1141.01cr for the quarter ended 31* March 2021 against = 914.02 Crore in the corresponding quarter of the previous year.
  • Printing & Writing Paper production during the year was 323588 MT. Packaging Board production was 171711 MT. Read more

Shree Renuka Sugars stock locks at new 52-week high after board nods capacity expansion of ethanol p

Published on: 4:32 pm

  • Shree Renuka Sugars has received board of directors approval to further expand capacity for ethanol production from 970 KLPD to 1400 KLPD. The investment required for expansion would be Rs450cr.
  • Shree Renuka Sugars said in its regulatory filing that the Government of India has mandated 20% ethanol blending in fuel by 2025 against a current blending of 7.79%. Considering this, the Company sees a huge untapped demand for ethanol for the ethanol blending program of the Government of India which can be of benefit to the Company in the future.
  • The mode of financing the expansion would be borrowing. The proposed capacity is expected to be added by October 2022. Read more

Redington India reveals change in shareholding of step down subsidiaries; Stock ends lower

Published on: 4:31 pm

  • Redington India Limited informed the exchanges Friday about change in shareholding in stepdown subsidiaries by Redington Gulf FZE (RGF), a wholly-owned step-down subsidiary, which beneficially holds 100% shareholding in its step down subsidiaries namely Redington Middle East LLC, Proconnect Supply Chain Logistics LLC and Cadensworth United Arab Emirates LLC (Subsidiaries).
  • The company said that the recent amendment in country law, presently allows 100% ownership by a single shareholder. Pursuant to the same and obtaining of necessary approvals, RGF, has entered into Share Transfer Agreements (STA) for transfer of 51% stake in its own name in the Subsidiaries. With this transfer, RGF is a sole shareholder holding 100% shareholding in all these entities. Read more

Sarda Energy intimates about unit 1 of Rongnichu Hydro Power Plant

Published on: 4:24 pm

  • Sarda Energy & Minerals has intimated the commercial operation of unit 1 of Rongnichu Hydro Power Plant under Subsidiary.
  • As per the regulatory filing, the company said "unit No. one of 56.5 MW of 113 MW Rongnichu Hydro Electric Plant installed by Madhya Bharat Power Corporation Limited, a subsidiary of the Company, has been granted clearance under Central Electricity Regulatory Commission (Indian Electricity Grid Code) Regulations, 2016 for the supply of power post successful completion of trial run operation after demonstrating continuous operation at full load for 12 hours and testing for 10% overload (62.15 MW) on 25th June 2021. Test run of Unit 2 is progressing satisfactorily." Read more

Escorts to hike prices of tractors from July 1 to offset inflation impact

Published on: 4:22 pm

  • Escorts Agri Machinery (EAM), division of Escorts Limited, shall be increasing the prices of its tractors effective 1st July 2021.
  • There has been a steady rise in commodity prices necessitating a price hike to offset the impact of the continuing inflation.
  • The increase in prices would vary across models and variants. Read more

Tech Mahindra subsidiary acquires 100% equity shares in Brainscale; stock ends 1% up

Published on: 4:18 pm

  • Tech Mahindra in the regulatory filing on Saturday said that the Company through its wholly-owned subsidiary viz., Tech Mahindra (Americas) Inc. approved the proposal to acquire 100% equity shares in Brainscale Inc. (Brainscale).
  • The acquisition will bolster Tech Mahindra’s consulting capabilities in the Cloud transformation space and will enable Tech Mahindra to drive the growth of Cloud-related IT services in the North American market, the company said in the filing.
  • The transaction is expected to close by August 15, 2021. Read more

SBI, Canara Bank, Union Bank of consortium gives Sathavahana Ispat debt to JC Flower ARC

Published on: 4:17 pm

  • Sathavahana Ispat has announced that the Three (3) lender Banks (Out of Four (4) in the consortium) of the Company namely, Canara Bank (“CB”), State Bank of India (“SBI”) and Union Bank of India [(earlier Andhra Bank) (“UBI’)} [collectively hereinafter referred as “Banks”] and IFCI nonbanking financial company have assigned their debt provided to the Company to J C Flower Asset Reconstruction Company Limited ("JCFARC").
  • The registration of the executed Deed of Assignment is pending before the Office of the Sub-Registrar.
  • That said,  J C Flower ARC shall now have all the rights and privileges on the debt earlier owed by the Company to the Banks. Read more

Shriram Transport Finance buys back 9 NCDs of face value of Rs10 lakhs each

Published on: 4:15 pm

  • Shriram Transport Finance Company Limited has bought back on June 25, 2021, nine Redeemable Non-Convertible Debentures of the face value of Rs10 lakhs each issued by the company on a private placement basis January 22, 2019, as per the details enclosed in the annexure.
  • The Buyback price is over Rs10.28 lakhs per NCD aggregating to Rs92.560 lakhs plus accrued interest of Rs375,928.77. Read more

Jet Airways stock ends at 5% upper circuit as a seven-member monitoring panel will manage resolution

Published on: 4:12 pm

  • Jet Airways has announced that a monitoring committee is required to be constituted which shall comprise of 7 (seven) members to manage the resolution plan. NCLT has last week approved Murari Lal Jalan and Florian Fritsch-led Karlock consortium's resolution plan.
  • As per the regulatory filing,  as per the terms of the approved Resolution Plan, a monitoring committee is required to be constituted which shall comprise of 7 (seven) members: (a) 3 (three) members appointed by the Resolution Applicant; (b) 3 (three) members appointed by the financial creditors having highest share in the CoC; and (c) an independent insolvency professional appointed by the financial creditors (preferably the existing resolution professional). Read more

Garware Hi-Tech Films' 'Global' brand wins silver medal at TintOff Contest in USA

Published on: 4:07 pm

  • Garware Hi-Tech Films Limited (GHFL) which manufactures premium quality polyester films and is the only manufacturer of sun control window films in India has announced that it has bagged a silver medal at the International Window Film Conference and Tint-Off competition held from June 7-9 at Orange County Convention Center in Orlando, Florida.
  • GHFL enjoys a strong consumer base across the globe, including the US market. GHFL's participated in the exhibition with the "Global" brand under which it sells the Window film in US. Read more

Mukand to enhance production and sales of stainless steel at Thane facility to 1.5 lakh tons per ann

Published on: 4:02 pm

  • Mukand, Chairman and MD Niraj Bajaj and Co-Chairman and MD Rajesh V. Shah in their communication to shareholders said that the Company will shortly be enhancing its production and sales of stainless steel at the Thane facility from around 1,00,000 tons annually to 1,50,000 tons per annum.
  • The duo said that the production and sales expansion will be without any significant capital expenditure resulting in an increase of turnover by approximately Rs700cr per annum.
  • The duo said, "This is possible as the alloy steel rolling, normally done at the Thane plant, is now being gradually transferred to the newly commissioned bar and wire rod mill at the MSSSL Hospet plant, freeing up greater capacity for stainless steel products at the Thane facility." Read more

Lupin launches Emtricitabine and Tenofovir Disoproxil Fumarate Tablets in the US

Published on: 4:01 pm

  • Global pharma major Lupin announced the launch of Emtricitabine and Tenofovir Disoproxil Fumarate Tablets 200 mg/300 mg, having received approval from the United States Food and Drug Administration (FDA).
  • In the regulatory filing, Emtricitabine and Tenofovir Disoproxil Fumarate Tablets 200 mg/300 mg, are the generic equivalent of Truvada Tablets 200 mg/300 mg, of Gilead Sciences, Inc., and indicated in combination with other antiretroviral agents for the treatment of HIV-1 infection.
  • It is also used for pre-exposure prophylaxis (PrEP) to reduce the risk of sexually acquired HIV-1 infection, the company said on Friday. Read more

Revathi Equipment resumes operations at Coimbatore after temporary closure; Stock ends 2% higher

Published on: 4:00 pm

  • Revathi Equipment Limited resumed operations at its Unit and Registered Office at Coimbatore from today. The company had informed on May 24, 2021, about the suspension of operations due to the Covid-19 pandemic.
  • “Based on the Circular issued by the State Governments the company is permitted to commence operations. Hence, the operations of our Unit and Registered Office at Coimbatore have resumed with 100% of the employees effective from Monday,” company said in a regulatory filing on Monday. Read more

Super Sales fully resumes operations with 100% work force in Tamil Nadu

Published on: 3:43 pm

  • Super Sales India has informed the exchange regarding resumption of  operational activities of the company.
  • The operations of the company has been resumed on 14th June, 2021 and now Super Sales informed that the units are working with 100% of work force from Monday onwards as per the directions of Government of Tamilnadu. Read more

Barbeque-Nation Hospitality plans to raise ~Rs100cr; Stock ends 1% lower

Published on: 3:43 pm

  • Barbeque-Nation Hospitality Limited board has approved fundraising of nearly Rs100cr through the issuance of 11,77,855 equity shares pursuant to a preferential allotment.
  • The company’s board also approved the modification of ‘Barbeque Nation Hospitality Limited Employee Stock Option Plan 2015. It has convened an Extra-Ordinary General Meeting of the shareholders of the Company on July 19, 2021 through Video Conference or Other Audio Visual Means for seeking their approval for fundraise and modification in Employee Stock Option Plan 2015. Read more

Commercial Bank of Kuwait selects TCS BaNCS to transform treasury operations and drive future growth

Published on: 3:27 pm

  • Tata Consultancy Services' integrated front-to-back Treasury Solution to help the Bank create new and innovative asset classes and improve customer experience.
  • Tata Consultancy Services (TCS), announced Monday that the Commercial Bank of Kuwait (CBK), one of the largest financial institutions in Kuwait, has selected TCS BaNCS for Treasury to manage risk better, enhance asset class coverage, and drive future growth.
  • CBK was looking for a modern, integrated treasury solution to help transform its treasury operations and offer new generation asset classes, enhance risk management, and ensure regulatory compliance. Read more

Markets closed lower; Pharma stocks outperformed

Published on: 3:15 pm

  • Domestic markets witnessed a negative day of trade as a marginal hint of profit booking was seen during the second half of the trade. Bank Nifty index marginally outperformed the Nifty index by ~0.3% with both the indices closing on a flat note.
  • The Nifty Pharma index was among the top outperformers closing ~1.3% higher with stocks like Dr Reddys, Cipla, Biocon & Lupin adding fresh long positions.
  • The Nifty Midcap 100 index closed ~0.6% higher. Market breadth ended in the favour of the advances with the advance/decline ratio closing at 1:1x. Read more

Lakshmi Machine Works stock jumps 6% after fully resumption operations of textile machinery, machine

Published on: 3:15 pm

  • Lakshmi Machine Works operations at Textile Machinery Division and Machine Tool Division have fully resumed today. This is based on guidelines as issued by the government.
  • Earlier, on June 07, 2021, the company made the partial resumption of operations in the above-mentioned division.
  • The company said that "we would like to reiterate that safety and health of our stakeholders including employees is of utmost importance to us, as such, necessary precautionary measures have been taken in line with the Standard Operating Procedures issued by the Government authorities." Read more

Rico Auto Industries enhances stake to 98.99% in Rico Investments; Stock down 1.5%

Published on: 3:15 pm

  • Rico Auto Industries Limited has purchased 15 lakh equity shares of Rs10 each at a price of Rs10.00 per share of its subsidiary company namely Rico Investments Limited (RIL) from its existing shareholder. After this purchase, the total shareholding of the company in RIL has increased from 97.73% to 98.99% in the total Paid-up Equity Share Capital of RIL.
  • “Acquisition of equity shares is part of ongoing group consolidation exercise,” the company said in a filing on Saturday after completing the acquisition on June 25, 2021. Read more

Emami increases its stake to 45.96% in Helios Lifestyle; Stock jumps 2%

Published on: 3:13 pm

  • Emami Limited, one of the leading FMCG companies in India, has increased its existing strategic stake of 33.09% to 45.96% in Helios Lifestyle Pvt Ltd. Emami had previously acquired 33.09% equity stake in Helios Lifestyle, known for its male grooming brand “The Man Company” (TMC) in two tranches, with one in December 2017 and the latter in February 2019.
  • This investment is in line with the company’s strategy of leveraging emerging online opportunities brought about by rapid digitization. With this investment, Emami has further strengthened its position as the largest shareholder of TMC. Read more

IL&FS Group gets Rs1,925cr from Haryana Govt. in the Gurgaon metro project case; stock zooms ~5%

Published on: 3:12 pm

  • IL&FS has received Rs1,925cr from Haryana Shehari Vikas Pradhikaran (HSVP) as interim termination payment in the Gurgaon Metro Project case on Sunday. Reacting to this news, shares are trading higher by ~5% on the BSE in the last hour of the trading session.
  • This payment, duly received in escrow accounts, comes in compliance with the Hon'ble Supreme Court’s Order of March 26, 2021, that ruled in favour of IL&FS in the Gurgaon Metro Project - developed through ILFS subsidiaries and Special Purpose Vehicles (SPVs) - Rapid Metro Rail Gurgaon Limited (RMGL) and Rapid Metro Rail Gurgaon South Limited (RMGSL). Read more

Seamec to acquire diving vessel 'Subtech Paladin' from UK-based James Fisher Marine

Published on: 3:09 pm

  • Seamec has announced that the company is in the process of acquisition of a diving vessel – “Subtech Paladin” from James Fisher Marine Services Limited, London, United Kingdom, for USD 17,300,000.
  • Earlier, in June, the company had intimated about its decision to purchase a diving support vessel in line with the Company line of business.
  • On Sunday, Seamec stated that the remittance is likely to be made on June 28, 2021, following regulatory approvals and the whole transaction is likely to be completed on or before July 15, 2021. Read more

Granules' US unit gets two observations from USFDA

Published on: 3:05 pm

  • Shares of Granules India trading higher on the stock exchanges after the US drug regulator has completed inspection of the facility of Granules India’s US-based subsidiary on June 25, 2021, with two minor observations.
  • “US FDA has completed inspection of the facility of Granules Pharmaceuticals, Inc., a wholly-owned foreign subsidiary of the Company located in Chantilly, Virginia, the USA on 25th June 2021 with two (2) minor observations,” the company said. Read more

Nifty IT dives over 110 points as index heavyweight TCS takes a nosedive; LTI, HCL Tech also drags

Published on: 2:48 pm

  • Technology stocks were in a dive despite Indian markets benchmark clocked fresh lifetime high on Monday. Although, the glory of record levels in benchmarks Sensex and Nifty 50 was short-lived as markets turned towards a volatile session.
  • IT stocks emerged among the top underperformers that weighed on benchmarks today. Index heavyweights especially Tata Consultancy Services (TCS) was in a nosedive taking a further toll on sectoral indices.
  • June 2021 quarterly earnings, the slowdown in Covid-19 cases and growth momentum returning to pre covid levels as vaccination drive speeds-up - have swayed markets sentiments. Read more

Nifty Auto stocks trade flat; Heavyweight Maruti under selling pressure

Published on: 2:45 pm

  • Nifty Auto traded flat as the markets traded lower on Monday. The Index saw steady performance throughout after a gap-up start and touched a high of 10,746.10 and low of 10,676.90 during intraday trade on Monday.
  • At around 2.45 pm, Nifty Auto was trading at 10,705.95 down 0.85 points or 0.01%.
  • BSE Sensex was trading at 52,783.70 down 141.34 points or 0.27% and Nifty50 at 15,832.05 down 28.30 points or 0.18%. Read more

NTPC targets to install 60GW renewable energy capacity by 2032

Published on: 2:44 pm

  • State-owned NTPC has become the first energy company in the energy domain in India to declare its Energy Compact goals as part of UN High-level Dialogue on Energy (HLDE). The company has set a target to install 60 GW of renewable energy capacity by 2032.
  • India’s largest power producer is also aiming at a 10% reduction in net energy intensity by 2032.
  • Notably, the company is among the few organisations globally to declare its Energy Compact goals. Read more

RITES bags orders of nearly Rs750cr from Railways

Published on: 2:31 pm

  • Shares of RITES Ltd soared over 2.6% in the afternoon session as the company has secured two major orders worth Rs749.7cr from the Ministry of Railways.
  • “Further to our intimation dated 15" June 2021 about the lowest bid for a tender called by Railway Board, Ministry of Railways for railway electrification work on turnkey basis,” the company said in the filing.
  • The company has won the Mysore — Hassan — Mangalore incl. Hassan — arsikere with the cost of the project is Rs461.23cr (incl fee) and also another project is on Lumding — Badarpur at Rs288.44cr (incl fee), it added. Read more

Market pulse at 2:30 PM today

Published on: 2:30 pm

  • Indices remain lower despite nearly 3% surge in PSU Bank stocks.
  • BSE Sensex is currently 52,808.20 down 116.84 points or 0.22%.
  • Nifty50 is currently 15,834.65 down 25.70 points or 0.16%. Nifty Bank is trading up 0.13% at 35,409.45 while Mid-cap Index is up by 0.71%. Read more

ICRA reaffirms credit ratings on IFCI debt instruments; Stocks up 2%

Published on: 2:25 pm

  • Rating Agency, ICRA Limited has re-affirmed the ratings of debt instruments of IFCI Limited.
  • Fund-based bank limits has been reaffirmed to [ICRA] BBB- with negative outlook along with Long term bonds and NCDs.
  • Commercial Paper Programme has been reaffirmed to [ICRA] A3. Read more

NLC India allots 6K commercial papers worth Rs300cr; Stock trades flat

Published on: 2:15 pm

  • NLC India Limited on Friday has allotted 6,000 Nos. of Commercial Paper of a face value of Rs5 lakh each, aggregating to Rs300cr. The company also made the payment of a principal amount of Rs300cr with respect to Commercial Paper (ISIN No INE589A14264) as per terms and conditions of the issue.
  • The company also shared a brief profile of Dharmendra Pratap Yadav who was appointed as the Part-time Official Director of the company on June 16, 2021.  Dharmendra Pratap Yadav graduated from Allahabad University and a Member of Indian Administrative Service.
  • Yadav has held various important positions in Government Departments and is presently serving as the Principal Secretary to Government of Tamilnadu, Energy Department, Chennai. Read more

Shiva Texyarn resumes operations with 100% work force to handle export orders in Tamil Nadu

Published on: 2:14 pm

  • Shiva Texyarn Limited  has announced that the company has restarted its operations as per Tamil Nadu government guidelines.
  • In lieu of the latest Standard Operating Procedures prescribed by the Government of Tamilnadu, company's all units are functioning as detailed below: Read more

Titan stock under pressure after ICRA assigns credit ratings

Published on: 2:08 pm

  • Rating agency, ICRA has assigned credit ratings on Titan Company's Rs1,700cr Bank Facilities, Rs1,500cr Commercial Paper (CP), Rs2,500cr Fixed Deposit (FD) programme and Enhancement of Rs. 500 crore FD programme.
  • After due consideration, ICRA has reaffirmed the long term rating of [ICRA]AAA (pronounced ICRA triple-A) and short-term rating of [ICRA]A1+ (pronounced ICRA A one plus) assigned earlier to the Rs1,700cr bank facilities of your company. The outlook on the long-term rating is Stable. This rating indicates the highest degree of safety regarding timely servicing of financial obligations. Such instruments carry the lowest credit risk. Read more

Tata Elxsi wins NASSCOM Engineering & Innovation Excellence Awards 2021

Published on: 1:40 pm

  • Tata Elxsi, a global design and technology company, has won the NASSCOM Engineering & Innovation Excellence Awards 2021 for Engineering Service Providers in all product categories. There were 300 + nominations received from 105 + unique ER&D organizations.
  • The awards are a testimony for excellence in Engineering R&D on a global platform, as the industry matures to investing and developing complete products and solutions that compete and rank among the best in global markets. Read more

Maruti Suzuki expands ‘Subscription’ services to Jaipur, Indore, Mangalore and Mysore

Published on: 1:37 pm

  • Maruti Suzuki India Limited (MSIL) today announced the expansion of ‘Subscription’ services to four new cities - Jaipur, Indore, Mangalore, and Mysore. With this rollout, customers can now opt for Maruti Suzuki Subscribe services in 19 cities.
  • MSIL has launched a marketplace model for Maruti Suzuki Subscribe that will serve as a unified platform to offer customized car subscription products through multiple partners at competitive rates. It offers added convenience and flexibility to modern-age car buyers under the umbrella slogan of ‘Your choice of car. Your choice of subscription provider.’ Read more

HCL Infosystems hit 5% lower circuit after Q4 earnings

Published on: 1:35 pm

  • HCL Infosystems has posted a consolidated net loss of Rs41.84cr in the quarter ending March 2021 (Q4FY21). The loss was attributable to shareholders. The Q4 loss narrowed from Rs70.94cr of a year ago same quarter, however, the loss widened from Rs34.32cr of the previous quarter.
  • Consolidated total income was at Rs122.02cr in Q4FY21 lower from Rs253.67cr of Q4FY20. However, total income jumped from Rs86.34cr of Q3FY21.
  • Raj Sachdeva, Manager of HCL Infosystems Ltd, commenting on the results said, “In FY21, the company continued to focus on debt and loss reduction. The Company took various actions during the year to meet these objectives." Read more

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