Live market updates

01st Jul, 2021

Tata Motors registers domestic sales of 1,07,786 units in Q1FY22, rises by 353% yoy

Published on: 5:11 pm

  • Tata Motors posted a total domestic sale of 1,07,786 units in the April-June quarter of fiscal 2022, compared to the corresponding period of the previous fiscal, marking a growth of 353% you.
  • The auto company's sales in the domestic and international market in the first quarter of the current fiscal stood at 1,14,784 vehicles as compared to 24,978 units last year.
  • In June 2021, Tata Motors domestic sales stood at 43,704 units, compared to 19,387 units sold in the same month last year. Read more

TCS expands partnership with Royal London to transform pensions platform

Published on: 5:10 pm

  • Tata Consultancy Services (TCS) on Thursday expanded its strategic partnership with Royal London, the largest mutual life insurance, pensions and investment company in the UK, to help the latter transform its pensions platform estate and deliver market-leading services to members and customers.
  • “Our strategy as an insight-led modern mutual recognises that we need to drive change and keep pace with the world around us, to build a business that supports the future needs of our customers and markets,” said William Pritchett, Group Chief Information Officer, Royal London. “We partnered with TCS to leverage their expertise, capability and capacity in the insurance business domain and proven track record of enabling similar transformations within the financial services sector. We want to reduce complexity in our day-to-day business and empower our employees to respond to customer’s needs by being data-led and digitally nimble.” Read more

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TVS Motor sales rise a whopping 27% yoy to 251,886 units in June 2021, 2-wheelers sales jump 25% yoy

Published on: 5:04 pm

  • TVS Motor Company records a growth of 27% in June 2021 with sales of 251,886 units as against sales of 198,387 units in June 2020.
  • TVS Motor said, "We have reduced dealer stocks to support our dealers and channel partners and will produce to maintain adequate inventories for customer demand." Read more

Rane Holdings enhances stake in RT4U to 76.81%; Stock ends flat

Published on: 5:02 pm

  • Rane Holdings Limited (RHL) has further acquired a 6.80% equity shareholding in Rane t4u Private Limited (RT4U) for a consideration of over Rs6.57 lakhs. The aggregate equity shareholding stands at 76.81%.
  • RT4U is a subsidiary of the Company, which offers customized analytics-rich end-to-end telematics/connected mobility solutions for various transportation and asset tracking requirements in India and other countries across South Asia, Middle East and Africa.
  • The company said on Wednesday, shares are acquired at a price of Rs5.80 per equity share of face value of Rs.10 each at a total cost of Rs6,57,140. The company acquired total 1,13,300 shares. Read more

Bajaj Auto sales jump 24% yoy to over 3.46 lakh units in June 2021

Published on: 5:00 pm

  • Bajaj Auto on Thursday released the auto sales number for June 2021. The two-wheeler reported a total sale of 3,46,136 units in June 2021, compared to 2,78,097 units in the corresponding month last year, with a growth of 24% you.
  • Bajaj Auto's total domestic sales - including two-wheelers and commercial vehicles in June stood at 1,61,836 units, compared to 1,51,189 units in the same month last year, recording a growth of 7% on a yearly basis. Read more

Mahindra's Farm Equipment Sector sales rise to 46,875 tractors in June 2021

Published on: 4:55 pm

  • Mahindra & Mahindra-led Farm Equipment Sector (FES) announced its tractor sales numbers for June 2021, which indicate a clear growth path in the upcoming season.
  • The company's total tractor sales (Domestic + Exports) during June 2021 were at 48222 units, as against 36544 units for the same period last year.
  • Domestic sales in June 2021 were at 46875 units, as against 35844 units during June 2020. Exports for the month stood at 1347 units. Read more

Affle India completes acquisition of Jampp; Stock ends 3% down

Published on: 4:50 pm

  • Affle (India) Limited through its subsidiaries, has announced the completion of acquisition to acquire full control, tech IP assets and 100% ownership of Jampp, a leading global programmatic mobile marketing company.
  • Affle had approved and announced the acquisition on 9th June, 2021 and this marks the successful completion of its biggest acquisition till date.
  • Jampp is a global platform that started in 2013 in Latin America (LATAM) and its largest teams continue to be based there. Jampp’s programmatic mobile advertising platform is used by leading app marketers to acquire new users and also to drive repeat usage & transactions with existing users. Read more

USFDA gives final approval to Alembic Pharma's Nitrofurantoin capsules

Published on: 4:49 pm

  • Alembic Pharmaceuticals on Thursday received final approval from the US Food & Drug Administration (US FDA) for its Abbreviated New Drug Application (ANDA) for Nitrofurantoin Capsules, USP (Macrocrystals), 25 mg, 50 mg and 100 mg.
  • According to the regulatory filing, the approved ANDA is therapeutically equivalent to the reference listed drug product (RLD), 'Macrodantin Capsules, 25 mg, 50 mg, and 100 mg, of Alvogen Malta Operations Ltd.
  • Nitrofurantoin capsules, USP (Macrocrystals) is specifically indicated for the treatment of urinary tract infections when due to susceptible strains of Escherichia coli, enterococci, Staphylococcus aureus, and certain susceptible strains of Klebsiella and Enterobacter species. Read more

Acuite Ratings upgrades Dynacons Systems rating outlook to Positive; Stock ends 7% lower

Published on: 4:47 pm

  • Acuite Ratings & Research Limited, has upgraded the outlook of the credit rating for Long Term Instruments of Dynacons Systems & Solutions Limited from “Stable” to “Positive”.
  • The rating on long-term instruments (Bank Loans / Debt Instruments) Rs35cr has been reaffirmed Acuite BBB and Outlook revised to Positive from Stable. On short-term instruments (Bank Loans / Debt Instruments) Rs30cr of the sompany, rating has been reaffirmed at Acuite A3+. Read more

M&M sales stood at 32,964 vehicles in June 2021, expects upward trend in demand to continue acro

Published on: 4:42 pm

  • Mahindra & Mahindra announced overall auto sales (passenger vehicles + commercial vehicles + exports) for June 2021 stood at 32,964 vehicles.
  • Veejay Nakra, Chief Executive Officer, Automotive Division, M&M Ltd., “With the opening up of the market in a phased manner, we are seeing a boost in demand in both urban and rural and we expect the upward trend in demand to continue across all segments and markets.
  • As we come out of the second wave of the pandemic, by and large, our supply chain has stabilized except for the global semiconductor issue, which still continues to be a challenge that we are addressing as top priority." Read more

Escorts records highest-ever June sales to 12,533 tractors, optimistic for the rest of this fiscal

Published on: 4:35 pm

  • Escorts has announced that its Agri Machinery Segment (EAM) has sold 12,533 tractors in June 2021. This would be the highest ever June sales and registering a growth of 15.5% against 10,851 tractors sold in June 2020.
  • Of the total, domestic tractor sales in June 2021 was at 11,956 tractors as against 10,623 tractors in June 2020, registering a growth of 12.5%. Escorts said that the continued growth in our volumes and that of the tractor industry is a testament to the resilience of rural and Agri sectors. Despite the challenges posed by the pandemic, the farmers of our country continued to work hard to make sure all of us have food on our plates. Read more

Equitas SFB waves off non maintenance charges for current account holders

Published on: 4:31 pm

  • Equitas Small Finance Bank modifies the Current Account proposition by simplifying banking for the Current Account holders, by waiving off Non Maintenance Charges.
  • Considering the current scenario of the pandemic, this announcement will empower the account holders to bank stress-free. Equitas SFB will be one of the first private sector Banks to waive off NMC across CASA, thereby making banking simple and limitless, the company said in a filing on Thursday. Read more

Kilburn Engineering receives work order of Rs24cr for various applications

Published on: 4:30 pm

  • Kilburn Engineering Ltd has informed to the exchange regarding work order received from various companies.
  • Kilburn has received orders from dryers & drying systems for various applications aggregating to Rs23.60cr from various customers. Read more

Cosmo Films incorporates new subsidiary Cosmo Speciality Polymers; Stock hits 52-day high during int

Published on: 4:26 pm

  • Cosmo Films Limited has incorporated a wholly-owned Indian Subsidiary Company in the name of “Cosmo Speciality Polymers Private Limited” for manufacturing and sale of polyester chips/raisins etc, the company said in a filing on Thursday.
  • Cosmo Films Ltd trade on Thursday ended at Rs968 per piece down by Rs12.5 or 1.27% from its previous closing of Rs980.50 per piece on the BSE. Read more

Amul milk gets costlier from today, GCMMF hikes price by Rs2 per litre

Published on: 4:25 pm

  • Your favourite Amul milk  has become costly! The Gujarat Cooperative Milk Marketing Federation (GCMMF) has increased the price of Amul milk by Rs2 per litre across India from Thursday onward.
  • In a notification, GCMMF stated that the increase of Rs2 per litre translates into a 4% increase in MRP (maximum retail price). Notably, the price increase is much lower than average food inflation.
  • Also, GCMMF said that the price revision is being done across India, in the rest of the markets where Amul is marketing its fresh milk. Read more

VST Tillers sales up 15.16% in June 2021; stock ends higher

Published on: 4:23 pm

  • V.S.T.Tillers Tractors Ltd said in the filing that the power tillers sales rose by 12.5% to 3,010 units in June 2021 from 2,675 units in June 2020.
  • Total tractor sales stood at 927 units in June 2021, 15.16% higher than 805 units sold in June 2020.
  • On a standalone basis, the company’s net profit stood at Rs12.93cr in Q4 FY21 as compared to a net loss of Rs3.38cr registered in Q4 FY20. Net sales jumped 62.6% to Rs194.74cr in Q4 FY21 over Q4 FY20. Read more

Indian banks face systematic risk as Covid second wave likely to impair performance in first half of

Published on: 4:15 pm

  • S&P Global Ratings expect Indian banks to face a systematic risk as the second COVID wave is likely to impair the performance of financial institutions for the first six months of fiscal FY22 (April - September). The rating agency pointed out that economic recovery remains highly vulnerable to setbacks due to COVID, particularly if fresh outbreaks trigger new lockdowns.
  • That said, S&P expects the banking sector’s weak loans to likely remain elevated at 11-12% of gross loans in the next 12 to 18 months. Read more

Sarda Energy & Minerals subsidiary commissions Unit 2 of 56.5MW power project

Published on: 4:13 pm

  • Sarda Energy & Minerals Ltd has informed that the unit No. two of 56.5 MW of 113 MW Rongnichu Hydro Electric Plant installed by Madhya Bharat Power Corporation Limited, a subsidiary of the Company, has also been granted clearance under Central Electricity Regulatory Commission.
  • It is for 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 30% June 2021. Read more

IRCON PAT rises 80% to Rs185.33cr in Q4FY21

Published on: 4:10 pm

  • Ircon International has announced its financial results for the fourth quarter and fiscal year ended on March 31st, 2021. The performance of the company was adversely affected in the first half of FY21. Despite the unprecedented situation, the company performed very well in Q4FY21.
  • The stock ended at Rs48.25 down by Rs0.55 or 1.13% from its previous closing of Rs48.80 on the BSE. Read more

NLC India allots commercial papers worth Rs150cr

Published on: 4:05 pm

  • NLC India has allotted 3,000 numbers of Commercial Paper of a face value of Rs5 lakh each, aggregating to Rs150cr on Wednesday.
  • The company registered a 52% rise in consolidated net profit to Rs756.83cr in the quarter ending March 2021 (Q4FY21) compared to Rs498.12cr a year ago same period.
  • Consolidated total income was at Rs3,550.48cr in Q4FY21 from Rs3,405.14cr in the corresponding period of the previous year. Read more

CCI approves Adani Green's 100% buy of SB Energy Holding

Published on: 3:57 pm

  • The Competition Commission of India (CCI) approves the acquisition by Adani Green Energy Limited (Acquirer) of SB Energy Holding Limited (Target) under Section 31(1) of the Competition Act, 2002, on Wednesday.
  • According to the Ministry of Corporate Affairs, the Proposed Combination envisages the acquisition of the entire (i.e., 100%) shareholding of the Target by the Acquirer from the Target’s existing shareholders.
  • The Acquirer is engaged in the business of power generation through renewable energy. The Acquirer is part of the Adani group, which is an Indian multinational conglomerate comprising of six publicly traded companies. Read more

GE Grid Solutions extends date of termination for new purchase orders from GE T&D to July 31

Published on: 3:49 pm

  • GE T&D India Limited informed the exchanges Wednesday that GE Grid solutions have extended the date of termination to July 31, 2021.
  • The company was earlier notified that with effect from June 30, 2021, no new contracts/purchase orders will be issued to the Company in relation to those services, and existing contracts/purchase orders will lapse at their expiry date or be terminated by notice. This was in relation to short term, non-exclusive contracts/purchase orders for global engineering services with other companies in the GE Grid Solutions division outside India Read more

Dish TV India posts standalone net loss of Rs876.48cr in Q4; stock ends lower

Published on: 3:46 pm

  • Shares of Dish TV India ended lower on the BSE after reporting a net loss of Rs876.48cr in the quarter ended March 2021. The company recorded a net loss of Rs1304.15cr during the previous quarter ended March 2020. Sales also declined 13.68% to Rs360.05cr in the quarter ended March 2021 as against Rs417.09cr during the previous quarter ended March 2020.
  • The stock ended at Rs13.70 down by Rs0.21 or 1.51% from its previous closing of Rs13.91 on the BSE. Read more

Globalspace Technologies ends 3% higher post Q4 result

Published on: 3:45 pm

GlobalSpace Technologies Limited has announced results for the fourth quarter ended on 31st March, 2021 & FY 2020-21 on Thursday.

EARNING SYNOPSIS:
On Consolidated basis for the FY2020-21 Vs FY2019-20:
  • PAT: Rs5.67cr (Grew by 90.9% on yoy basis)
  • Revenues: Rs27.08cr (Grew by 4.5% on yoy basis)
  • EBITDA: Rs9.47cr ( Grew by 81.3% on yoy basis) Read more

MOIL revises price of Manganese Ore and other products; Stock jumps 2%

Published on: 3:45 pm

  • In line with business practice, state-owned MOIL has revised prices of different grades of Manganese Ore and other products, effective from Thursday onward.
  • From July 01, the prices of all grades of Ferro, SMGR grades (Mn30% & Mn25%), Fines and Chemical grades have been increased by 7.5 %.
  • Further, the basic price of Electrolytic Manganese Di-oxide (EMD) has been continued as prevailing since April 01, 2021. Read more

Markets close lower; Info Edge outperformed

Published on: 3:40 pm

  • Markets witnessed a negative day of trade as continued profit booking was seen during the second half of the trade.
  • Nifty index underperformed the Bank Nifty index by ~0.2% with both the indices closing in the red. Share price of Info Edge witnessed a strong day of trade with stock closed with ~8% gains along with an addition of heavy long positions. 
  • Nifty Midcap 100 index closed ~0.3% lower. Read more

SpiceJet net loss narrows to Rs235cr in Q4 despite Covid-19 second wave impacts business hitting tra

Published on: 3:37 pm

  • SpiceJet has announced a net loss of Rs235.34cr for the quarter ending March 2021 (Q4FY21) which narrowed drastically from Rs807cr a year ago same period as the business continues to be severely impacted by the second wave of Covid-19 pandemic which has adversely hit operations and travel demand. The airline company reported a net loss of Rs998.3cr in FY 2021.
  • Meanwhile, the company posted a whopping 518% yoy rise in revenue to Rs1,117.5cr during the quarter. While there have been significant losses suffered on the passenger side of the business the dedicated cargo operations continued to provide a much-required lifeline to our overall operations. Read more

Punjab National Bank reduces base rate to 8.55%; Stock trades flat

Published on: 3:27 pm

  • Punjab National Bank has reduced the Base Rate from 8.65% to 8.55% with effect from July 1, 2021, onwards.
  • PNB reported a standalone net profit of Rs586cr for Q4FY21. The lender had posted a profit of Rs506cr in Q3FY21, and a standalone loss of Rs97cr in Q4FY20. The Bank’s NII rose 48.3% to Rs6,938cr in Q4FY20 compared to Rs4,677cr in Q4FY20. Read more

Omaxe records Q4 profit at Rs1.11cr; stock advances 1%

Published on: 3:24 pm

  • Realty firm Omaxe shares were trading in the positive territory on the BSE. The firm has reported a consolidated net profit of Rs1.11cr in Q4FY21 on lower-income amid the COVID-19 pandemic. It had posted a net loss of Rs126.26cr in the year-ago period.
  • Total income fell to Rs191.87cr in the fourth quarter of last fiscal year from Rs355.38cr in the corresponding period of the previous year.
  • Omaxe Ltd is currently trading at Rs81.10 up by Rs1 or 1.25% from its previous closing of Rs80.10 on the BSE. The scrip opened at Rs80.10 and has touched a high and low of Rs81.35 and Rs79.50 respectively. Read more

Vodafone Idea stock nosedives over 8% after Q4 net loss widens to Rs7,023cr

Published on: 3:24 pm

  • Telecom services provider, Vodafone Idea has registered a consolidated net loss of Rs7,022.8cr for the quarter ending March 2021 (Q4FY21). The company's Q4 net loss has widened from Rs11,643.5cr of Q4FY20 and Rs4,532.4cr of Q3FY21.
  • The company's revenue from operations stood at Rs9,607.6cr in the quarter under review from Rs11,754.2cr of Q4FY20 and Rs10,894.1cr of Q3FY21. Read more

Kilpest India sells over 1.51 lakh Covid-19 RT-PCR Tests in June 2021

Published on: 3:20 pm

  • Kilpest India Ltd has informed the exchange regarding update for the month ending June, 2021.
  • The company has sold 1,51,000 COVID-19 RT-PCR Tests in the month of June, 2021 with an average price of Rs. 65/- per test.
  • Also, Exports against Licenses received worth Rs42,62,000 was done in June, 2021. Read more

VIP Clothing reports standalone net loss of Rs0.19cr in Q4; stock hits lower circuit

Published on: 3:11 pm

  • Shares of VIP Clothing hit 5% upper circuit on the BSE at Rs16.25. The company posted a net loss of Rs0.19cr in the quarter ended March 2021 as against a net loss of Rs13.01cr during the previous quarter ended March 2020.
  • Sales rose 40% to Rs41.44cr in the quarter ended March 2021 as against Rs29.60cr during the previous quarter ended March 2020. Read more

L&T-led construction arm secures major contracts; Stock sheds 1%

Published on: 3:00 pm

The construction arm of Larsen & Toubro has secured orders from prestigious clients for its various businesses in India.

Water & Effluent Treatment Business:

The Water & Effluent Treatment business has won a repeat order from the Uttar Pradesh State Water & Sanitation Mission (SWSM) to implement rural water supply projects providing Functional House Tap Connection (FHTC) under the Jal Jeevan Mission.

The business has been entrusted to implement rural water supply projects to provide potable water to 1285 villages in the Varanasi and Ghazipur Districts of Varanasi Revenue Division. Read more

Nifty IT erases 29k, index dives near 180 pts; Heavyweights Infosys, Wipro, LTI, Tech Mahindra weigh

Published on: 2:50 pm

  • IT company stocks witnessed a choppy trade on Thursday as the first quarter of fiscal FY22 (Q1FY22) nears. Profit booking has been recorded in technology stocks globally pulling back major indices from their record level. The expectations of the arrival of the third wave of Covid-19 further escalate inflation pressure in major economies, however, speedy vaccination drive continues to limit concerns among participants. Another reason for sell-off could be that technology indices are overbooked.
  • However, IT stocks are expected to remain in focus with experts believing that the Covid-19 will make a long-term impact on global corporate culture and it is likely that IT clients may mull for heavy investment in digital and cloud transformation that in return will drive revenue growth of technology companies. Read more

Shahlon Silk Industries PAT at Rs3.47cr, increased substantially by 12.88 times in Q4

Published on: 2:48 pm

  • Shahlon Silk Industries Ltd., a leading textile enterprise, has declared its financial results for the quarter ended March 31, 2021. The company posted a net profit was at Rs3.37cr in Q4FY21 which has increased significantly from a loss of Rs3.84cr in Q4FY20.
  • The revenue from operations was at Rs106.68cr and EBITDA was at Rs10.77cr.
  • The decrease in both short and long term debt has resulted in decrease in finance cost during the year and helped in increasing the overall profitability of the company Read more

Unichem Lab receives USFDA approval for Aripiprazole Tablets; Stock soars 3%

Published on: 2:42 pm

  • Unichem Laboratories has received Tentative approval for ANDA of Aripiprazole Tablets, USP, 2 mg, 5 mg, 10 mg, 15 mg, 20 mg and 30 mg from the United States Food and Drug Administration (USFDA) for a generic version of ABILIFY (Aripiprazole Tablets) 2 mg, 5 mg, 10 mg, 15 mg, 20 mg and 30 mg of Otsuka Pharmaceutical.
  • The product will be commercialized from Unichem’s Ghaziabad Plant on receipt of full approval.
  • Aripiprazole Tablets are indicated for Schizophrenia, Irritability Associated with Autistic Disorder and treatment of Tourette’s disorder. Read more

Indian Oil receives 'Stage-1' approval to set-up first-ever Styrene Project in India with CAPEX of R

Published on: 2:34 pm

  • State-owned Indian Oil board has given “Stage - 1” approval for implementation of India’s first-ever “Styrene Monomer Project’ with a capacity of 387 thousand metric tonnes per annum (TMTPA) at an estimated cost of Rs. 4,495 crore, at IndianOil’s Panipat Refinery & Petrochemical Complex.
  • The Project would be commissioned by 2026-27. Availability of Styrene domestically is expected to accelerate the growth of downstream Industry leading to expansion of the industry as well as create employment opportunities. Read more

Agro Tech Foods stock jumps over 2% on completing the purchase of land in Kothur, Telangana

Published on: 2:30 pm

  • Agro Tech Foods stock was trading on a bullish note on Thursday after the company completed the purchase of land in Kothur (Telangana) to an extent of 2638.473 Sq Yards (2206.08 Sq meters).
  • In its regulatory filing, the company said, " completed purchase of land in Kothur (Telangana) to an extent of 2638.473 Sq Yards (2206.08 Sq meters) on 29th June 2021."
  • Agro Tech stated that this land parcel is adjacent to Company’s existing plant situated in Kothur and amounts to approx. 25% of the current land area of the existing plant and will be utilized for continued expansions of Company’s manufacturing operations. Read more

Market pulse at 2:30 PM today

Published on: 2:30 pm

  • Indices remain lower with IT stocks under pressure. Auto stocks continue to drive trade. 
  • BSE Sensex is currently 52,398.39 down 84.32 points or 0.16%.
  • Nifty50 is currently 15,704.10 down 17.40 points or 0.11%. Nifty Bank is trading up 0.08% at 34,800.10 while Mid-cap Index is down by 0.21%. Read more

Super Crop Safe receives land allotment for Technical Plant in Gujarat

Published on: 2:28 pm

  • Super Crop Safe Limited, a leading manufacturer and trader of Agro-chemicals, with leadership in the manufacturing of Pesticides, Bioproducts and Nutraceuticals, has received the allotment of 6868.70 square meters of land in Sayakha Industrial Estate, GIDC Gujarat.
  • Last year the Company has announced to set up a technical grade manufacturing plant in Gujarat, but due to Pandemic COVID-19, the allotment of land got delayed.
  • The Company already has 10 technical grade licenses and by the time the plant will be operational, the Company will apply and get approved more technical licenses for high demand products in the market. Read more

Nifty Metal steady amid volatile trade; MOIL, Hindalco lift performance

Published on: 2:18 pm

  • Nifty Metal stocks were steady amid volatile markets on Thursday after reports stated that extended anti-dumping duty on a certain variety of steel products till December 15 this year with a view to guarding domestic manufacturers from cheap imports from countries, including China, Japan and Korea. MOIL was the top gainer, while heavyweight Hindalco also contributed to the winnings. SAIL shed nearly 2% emerging as top laggards.
  • At around 2.18 pm, Nifty Metal was trading at 5,218.90 up 3.10 points or 0.06%, after touching a high of 5,255.40 and low of 5,194.75 during intraday trade.
  • BSE Sensex was trading at 52,417.72 down 64.99 points or 0.12% and Nifty50 at 15,706.35 down 15.15 points or 0.1%. Read more

SEBI returns Tata Steel Long Products Scheme for amalgamation of Indian Steel and Wire Products

Published on: 1:50 pm

  • Tata Steel Long Products Limited (TSLP) informed the exchanged Wednesday that it received a letter from SEBI Letter on Tuesday, through BSE Limited, stating that SEBI has returned the Scheme document, observing that the Scheme of amalgamation of The Indian Steel and Wire Products Limited (ISWP) into and with TSLP and their respective shareholders is in noncompliance with Securities law provisions.
  • No further reason for return of the Scheme has been provided in the SEBI Letter, company said.
  • The company had disclosed on November 13, 2020 the decision of the Board of Directors of the company approving the aforesaid Scheme which envisaged the amalgamation and consolidation of the businesses of the ISWP into and with the company and their respective shareholders. Read more

Nifty Pharma picks up pace, trades higher; Sun Pharma, Dr Reddys shine

Published on: 1:40 pm

  • Nifty Pharma index was back on track amid volatile trade on Thursday. In the previous trading session, the index recorded slight profit-taking after a three-day winning streak. Pharma sector led by Sun Pharma and DR Reddys surged 0.5% points while Torrent Pharma, and Divis Lab also advanced. Cadila Healthcare was under pressure along with Lupin.
  • At around 1.40 pm, Nifty Pharma was trading at 14,377.30 68.40 or 0.48%, after touching a high of 14,404.35 and low of 14,294.40 during intraday trade on Thursday. BSE Sensex was trading at 52,464.95 down 17.76 points or 0.03% and Nifty50 at 15,724.95 up 3.45 points or 0.02%.
  • Sun Pharmaceutical Industries gained 1.2% at Rs683.55 per piece to emerge the lead gainer. The company on Thursday launched a special initiative ‘Sunkalp’ for the welfare of doctors, their families and the community. Read more

SVP Global Q4FY21 results show sustained growth; PAT at Rs38.3cr

Published on: 1:30 pm

  • SVP Global Ventures, the fastest growing Indian multinational in cotton yarn manufacturing announced their FY21 and Q4FY21 results. The company has posted a net profit of Rs38.3cr for the period Q4FY21 as compared to a net profit of Rs33.3cr for Q4FY20.
  • The company has reported EPS of Rs3 for Q4FY21 an increase of 52.5% YoY.
  • It has reported a total income of Rs1422.4cr for FY 21. The Company has shown sustained growth over the quarters. The Q4FY21 revenue is Rs571.1cr as compared to Rs321.3cr during Q4FY20. Read more

Market pulse at 1:30 PM today

Published on: 1:30 pm

  • BSE Sensex is currently 52,479.30 down 3.41 points or 0.01%.
  • Nifty50 is currently 15,724.55 up 3.05 points or 0.02%. Nifty Bank is trading up 0.30% at 34,874.95 while Mid-cap Index is down by 0.04%.
  • Bajaj Auto, Hindalco, Tata Motors, Sun Pharma, and Hero MotoCorp are the top gainers while Shree Cement, Larsen & Turbo, Bajaj Finserv, Infosys, and Wipro are the top losers. Read more

The Ramco Cements commissions Line III at Jayanthipuram Plant

Published on: 1:29 pm

  • The Ramco Cements Ltd has informed that, on June 28, 2021 that the company has commissioned the Line III of their Jayanthipuram Plant, with a clinker manufacturing capacity of 1.50 Million Tonnes Per Annum.
  • The Ramco Cements Limited is a company of the Ramco Group, a business group based in Chennai, India. The company also produces ready mix concrete and dry mortar products and operates wind farms.
  • At around 1:30 PM, The Ramco Cements was trading at Rs1,015.30 apiece down by Rs10.75 or 1.05% on Sensex. Read more

Nifty Auto climbs 1% amid monthly sales data; Bajaj Auto, TVS Motor, Tata Motors drive the index

Published on: 1:08 pm

  • Auto stocks were in focus on Thursday as major companies have started to announce the monthly sales figures for June 2021. Heavyweight stocks drive the Nifty Auto - making the index a top bull on NSE. A broad-based buying was recorded in Nifty Auto and it has outperformed benchmark Nifty 50.
  • Companies like Bajaj Auto, Tata Motors, Maruti Suzuki and M&M have announced their sales for June 2021 and the first quarter of FY21 (Q1FY22). Others will follow suit as well.
  • At around 12.59 PM, Nifty Auto was trading at 10,708.30 up by 107.95 points or 1.02%. The index has touched an intraday high and low of 10,744.10 and 10,619.55 respectively. Read more

Maruti Suzuki records sales of 1,47,368 units in June 2021; Stock shines 1%

Published on: 1:05 pm

  • Maruti Suzuki India Limited posted total sales of 147,368 units in June 2021. Total sales in the month include domestic sales of 126,196 units, sales to other OEM 4,152 units and exports of 17,020 units.
  • With this the Company closed the first quarter of FY 21-22 with total sales of 353,614 units (297,118 units domestic, 10,977 units to other OEM and exports of 45,519 units).
  • According to the report, sales in Quarter 1 of both FY20-21 and FY21-22 have been far from normal owing to COVID-19 related lockdowns and disruptions and hence any comparison would not be very meaningful. Read more

Aarvi Encon to expand market share in Indonesia, will form JV with AEP Saepulloh; Stock up 1%

Published on: 12:58 pm

  • Aarvi Encon on Thursday announced that the company will embark on a joint venture with AEP Saepulloh by incorporating a new entity under the name of ‘PT Aarvi Encon Services’ through its wholly-owned Subsidiary, Aarvi Encon FZE, UAE to provide manpower deputation and operation and maintenance services across Indonesia that will improve the revenues.
  • Jaydev Sanghavi, Executive Director, Aarvi Encon said, "We are pleased to announce this new joint venture for Aarvi Encon, delivering on our commitment to strategically expand internationally. Aarvi Encon and AEP Saepulloh look forward to working together to unlock the potential of our manpower deputation businesses. We believe that this joint venture is a great opportunity to ensure the future success of Aarvi Encon while unlocking meaningful after-tax value for Aarvi’s shareholders.” Read more

Honda India Power Products introduces powerful 5.5hp power tiller to boost farm productivity

Published on: 12:57 pm

  • Honda India Power Products Limited (HIPP), a leading manufacturer of power products in India, today unveiled its new compact power tiller FQ650, to deal with a wide range of customer needs.
  • Farmers engaged in farming of vegetable, spices, horticulture, cash crops, orchards, and nurseries among others have been demanding a compact, powerful and economical power tiller capable of doing various farm operations like ground-breaking, pulverizing, furrow & ridge formation and deweeding operations efficiently.
  • HIPP has been at the forefront of introducing Honda’s legendary 4 stroke technology in agriculture and has successfully established its premium model FJ500 and the compact model F300 in gasoline fuelled power tiller category offering a robust and durable companion to Indian farmers. Read more

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