Published on: 5:16 pm
- Ashok Leyland on Tuesday said that the overall market demand has turned better in the current month than compared to June 2021. Due to this, the company will operate its plant for more days in July 2021.
- In its regulatory filing today, Ashok Leyland said that the overall market demand in July’21 is better than in June’21.
- "Consequently, our plants will be working for more number of days in July compared to May and June, ranging from 6 to 25 days across various plant locations," Ashok Leyland said. Read more
Published on: 5:05 pm
- Karix Mobile, a wholly-owned subsidiary of Tanla Platforms Limited, has announced the deployment of a conversational solution for Panasonic India Limited using the WhatsApp Business Solution Platform. The solution will facilitate one-to-one conversations between Panasonic’s customers and the brand.
- Building strong, personalized connections with its end-users helping them connect with the brand is one of the primary objectives of this solution. While the other service channels, specifically SMS and email, will remain available and active, this new channel has been built to be a more convenient option for customers. Read more
Published on: 5:03 pm
- Gravita India Limited on Tuesday informed that Recyclers Ghana Limited, a step-down a subsidiary of the company situated in Ghana, West Africa has enhanced the production capacity of its exiting Lead recycling plant from 12,000 MTPA to 16,200 MTPA.
- As per the regulatory filing, the Group has made an investment of Rs. 10 Crores for the above expansion and till date approx. Rs. 31 Crores has been invested for the establishment of this recycling plant having a capacity of 16,200 MTPA which has been invested through internal accruals of the company. Read more
Published on: 5:01 pm
- India Ratings and Research (Ind-Ra) has published the first edition of its quarterly Commercial Paper (CP) Market Dossier. The report encompasses the trend and dynamics of CP issuances in the latest quarter, overview of CP rates, liquidity assessments of Ind-Ra rated issuers, and any potential risks.
- The 1QFY22 trend suggests that the market has shown resilience amid the uncertain period of the second covid wave. Moreover, on the longer-term basis, the rising number of issuers in a month suggests broadening of the market, though there is a concentration risk pertaining to the tenor of borrowings. Read more
Published on: 4:57 pm
- Bank of Maharashtra has recorded gross advances of Rs110,444cr for the quarter ending June 2021 (Q1FY22) rising by 14.31% yoy and 2.6% qoq.
- The bank's deposits were at Rs174,377cr in the quarter under review increasing by 13.98% yoy and 0.21% qoq.
- CASA ratio was at 53.04% in Q1FY22 versus 53.99% in Q4FY21 and 49.56% in Q1FY21. Read more
Published on: 4:57 pm
- For June 2021, domestic passenger traffic is estimated at ~29-30 lakh, implying a sequential growth of ~41-42% compared to ~19.8 lakh in May 2021. The airlines’ capacity deployment for June 2021 was around 46% higher than June 2020 (~31,700 departures in June 2021, against 21,696 departures in June 2020). On a sequential basis, the number of departures in June 2021 were higher by ~14-15%, as Covid-19 infections demonstrated a downward trajectory.
- According to Kinjal Shah, Vice President & Co-Group Head, ICRA: “For June 2021, the average daily departures were at ~1100, significantly higher than average daily departures of ~700 in June 2020, and higher than ~900 in May 2021, though remains significantly lower than ~2000 in April 2021. The average number of passengers per flight during June 2021 was 94, against an average of 77 passengers per flight in May 2021. Though there is some recovery observed in June 2021, there exists continued stress on demand, driven largely by the second wave of the pandemic, limiting travel to only necessary travel, while both leisure and business travel have been curtailed due to various state-wide restrictions, despite the decline in infections.” Read more
Published on: 4:50 pm
- Clean Science and Technology IPO will open for subscription on Wednesday. The offer will be available for subscription till Friday, July 9, 2021.
- The price band set at Rs880-900 per share.
- Below are the 10 things you must know about Clean Science and Technology IPO: Read more
Published on: 4:49 pm
- Tilaknagar Industries has announced that the company entered into a settlement agreement with DCB Bank Ltd. (the Bank), one of the Financial Creditors of its wholly-owned subsidiary company, Prag Distillery Pvt. Ltd. (In liquidation). The agreement was signed on July 02, 2021.
- In its regulatory filing today, the company stated that Tilaknagar undertakes to settle the outstanding dues on behalf of its wholly-owned subsidiary Prag Distillery Pvt. Ltd. and settle all the pending disputes with the Bank. The Bank agrees to accept the full and final settlement of Rs 22,52,77,632 and odd towards a full and final settlement of its claims against total dues amounting to Rs 28,91,77,142. Read more
Published on: 4:45 pm
- Tata Consultancy Services has launched Jile 5.0, a major release of its on-the-cloud Enterprise Agile planning and delivery tool that enables enterprises to meet the large-scale development needs of multiple distributed teams.
- With enhanced Agile portfolio capabilities and Lean portfolio budgeting, Jile enables better collaboration and accelerates value creation.
- Jile 5.0 enables organizations to better align execution with strategy by providing a unified view of portfolios and programs, helping business stakeholders and teams to collaborate effectively, and speeding up time-to-market for new software. Read more
Published on: 4:42 pm
- Auto-giant, Maruti Suzuki's production rises in more than three-folds during June 2021 to 165,576 units compared to 50,742 units of June last year.
- From the total production, the company produced about 163,037 units of passenger cars in June 2021 against 49,476 units in June 2020.
- Also, the company produced 2,539 units of light commercial vehicles in the month under review against the production of 1,266 units in June 2020. Read more
Published on: 4:34 pm
- Maire Tecnimont S.p.A. announces that a consortium composed of its subsidiaries Tecnimont S.p.A. and Mumbai based Tecnimont Private Limited has been awarded an EPCC (Engineering, Procurement, Construction and Commissioning) Lump Sum contract by Indian Oil Corporation Limited (IOCL), for the implementation of a new polypropylene plant and the related product logistics facilities.
- The plant will be located in Barauni, in the State of Bihar, in North-Eastern India.
- The overall value of the contract is about USD 170 million. The scope of work entails Engineering, Procurement, Construction and Commissioning activities up to the Performance Guarantees Test Run. Read more
Published on: 4:33 pm
- Axis Bank CEO and MD, Amitabh Chaudhry have said that the bank's focus continues to be on further scaling up the subsidiaries so that they gain higher market share in their respective businesses. Chaudhary said that in his speech to shareholders in the bank's annual report for FY21.
- Chaudhary for FY21 said, "During the fiscal, we witnessed consistent and strong sequential growth in deposits, advances and fees. Our focus towards building a quality liability franchise saw sustained momentum with 18% growth in average granular retail deposits consisting of CASA and RTD deposits. Our advances grew 9% yoy led by quality growth across our Retail, Commercial Banking (CBG) and Corporate banking segments." Read more
Published on: 4:31 pm
- European stocks were trading mostly lower on Tuesday. The pan-European Stoxx 600 hovered around the flat line after a choppy start with autos dipped by 0.9% while travel and leisure stocks rose 0.7%.
- FTSE down 6 points, DAX dropped 46 points and CAC also fell by 12 points, respectively.
- U.S. stock futures were flat in early morning trading on Tuesday. Read more
Published on: 4:21 pm
- Dhruv Consultancy has informed that, the Company has received the “Letter of Award" for the Independent Engineer Services.
- The Letter of Award is for four lanning of Ahmednagar-Mirajgaon-Karmala-Tembhuni Section of NH 516A for (a) Package I from design fkm 0.000 (Ahmednagar) to design Km 38.775 (Ghogargaon).
- And Package II from design Km 38.775 (Ghogargaon) to design Km 80.390 (Ahmednagar Solapur Border) in the Statement of Maharashtra under Bharatmala Pariyojana on Hybrid Annuity Mode from National Highways Authority of India (NHAI). Read more
Published on: 4:18 pm
- According to a price notification by state-owned fuel retailers, the price of petrol remained unchanged. On Monday, the petrol had touched a fresh record high, it rose by 35 paise per litre in the national capital.
- According to the data available on the Indian Oil Corporation’s (IOC) website, petrol currently costs Rs105.92, while diesel is retailing at Rs96.91, in Mumbai. In Delhi, petrol price at Rs99.86 per litre, while diesel is at Rs89.36.
- In Kolkata, the price of petrol to Rs99.8 per litre and diesel prices remained stable at Rs92.31 per litre. Read more
Published on: 4:15 pm
- Bannari Amman Spinning Mills Limited has resumed the functions at the Registered Office of the Company with effect from July 5, 2021.
- The company’s office and mill operations were affected due to the Covid-19 lockdown in the state of Tamil Nadu.
- “The company is adhering to Standard Operating Procedures with full capacity prescribed by the Government of Tamil Nadu vide G.O. No 435 dt: July 3, 2021, to ensure safety and health of all stakeholders including employees from COVID-19 pandemic,” the company said in a filing on Tuesday. Read more
Published on: 4:10 pm
- Menon Pistons Ltd has informed that the company has now acquired all the shares of Rapid Machining Technologies Private Limited by transfer of 4,49,273 Equity shares of Rs10/- each which amounts to 100% of the paid up capital, in the name of the Company.
- Rapid Machining Technologies Private Limited is now a wholly owned subsidiary of the Company.
- On May 6, 2021, the company has informed for the proposed investment to be made and has entered into a Share Purchase Agreement with the promoters of Rapid Machining Technologies Private Limited. Read more
Published on: 4:06 pm
- NMDC Limited informed the exchanges Tuesday that the Mineral Resource Department, Government of Chhattisgarh vide letter dated June 26, 2021, has issued a Letter of Intent (LOI) for Bailadila Iron Ore Mine, Deposit-4, South Bastar, Dantewada District in favour of NMDC-CMDC Limited (NCL). Raipur, a JV Company of NMDC Limited (holding 513 equity share capital) along with CMDC (Chhattisgarh Mineral Development Corporation) (holding 493 equity share capital), for iron ore mining over 646.596 Ha.in Dantewada Forest Division, Chhattisgarh.
- Bailadila Iron Ore Deposit-4 is located north of Deposit-5 on the western flank of the Bailadila range of hills, lying at a distance of about l 35 kms towards south-west of Jagdalpur. It is a big and homogeneous iron ore deposit having onsite Reserve of approximately l 07 MT with an average grade of Fe of 65.39 3 . Read more
Published on: 3:48 pm
- Piramal Enterprises Limited Administrative Committee of the Board of Directors on Monday approved the allotment of 1,250 Secured, Rated, Listed, Redeemable Principal Protected, Market Linked Non-Convertible Debentures (‘Debentures’) each having a face value of Rs10 lakh at a further issue price of Rs10,01,521/- per Debenture, aggregating to Rs125.19cr on private placement basis.
- These Debentures are proposed to be listed on Debt Market segment of NSE. Read more
Published on: 3:42 pm
- Himalaya Granites Ltd has informed that the Registrar of Companies, Chennai has approved the change of name of the Company from 'Himalaya Granites Limited' to 'HG Industries Limited'.
- The changes would be effective from 2nd July, 2021 and accordingly a certificate of incorporation pursuant to change of name has been issued.
- The Company was originally incorporated with the name HIMALAYA GRANITES PRIVATE LIMITED and now all the business operations will take place under the name of 'HG Industries'. Read more
Published on: 3:41 pm
- Markets witnessed a volatile day of trade, as the entire opening half gains were taken out during the last one hour of the trade.
- Bank Nifty outperformed the Nifty index by ~1%, as a sharp rally was seen in major heavyweights like HDFC Bank & Kotak Bank.
- Share price of Tata Motors plummeted by ~9% as the media reported a negative commentary by the management, suggesting a negative EBIT margins of JLR in the coming quarter. Read more
Published on: 3:37 pm
- Coforge said in a regulatory filing that the board has approved the fresh issuance of equity shares for the purpose of capital raising way of a depository receipts issue or a Qualified Institutions Placement or any other mode not exceeding Rs375cr.
- The IT company said in the filing it will undertake an issuance of depository receipts (American Depository Receipts or Global Depository Receipts listed on recognized stock exchanges i.e. either NYSE and/ or NASDAQ and/ or any other overseas exchange) in one or more tranches through, a transfer of existing equity shares by eligible shareholders of the company not exceeding 1,85,00,000 equity shares or a fresh issue of equity shares by the company within the abovementioned overall limit of Rs375cr.
- Coforge Ltd is shares ended at Rs4,190.20 down by Rs29.2 or 0.69% from its previous closing of Rs4,219.40 on the BSE. Read more
Published on: 3:20 pm
- Shiva Texyarn Ltd has informed that in lieu of the latest Standard Operating Procedures prescribed by the Government of Tamilnadu, all their units, Registered Office and Administrative office are functioning with full strength of workforce with effect from Monday, 5th July 2021.
- Export & Export related Production Activities also have started operations with 100% work force capacity.
- Earlier, due to Covid lockdown guidelines the company had announced shut down for alloperations for temporary period. Read more
Published on: 3:18 pm
- Tata Motors Limited wholly owned subsidiary Jaguar Land Rover retail sales for the three-month period to June 30, 2021 were significantly up year-on-year, reflecting the continuing recovery in demand from the Covid 19 pandemic, particularly compared to a year ago. However, wholesales, in particular, were lower than demand would have permitted due to semiconductor supply issues affecting the global auto industry.
- Retail sales for the first quarter ending June 30, 2021, were 124,537 vehicles, 68.1% higher than the 74,067 vehicles sold in Q1 last year. Retails were higher year on year in every key region including in the UK (+186.9%), Europe (+124.0%), Overseas (+71.0%), North America (+50.5%) and China (+14.0%), company said in a filing on Tuesday.
- Retail sales of all models, other than Jaguar XE, were higher year-on-year and sales of the new Land Rover Defender continued to climb with 17,194 vehicles retailed in the first quarter. Read more
Published on: 3:16 pm
- The Finance Ministry has announced that the CBDT has extended relaxation in electronic filing of Income Tax Forms 15CA/15CB.
- As per the Income-tax Act, 1961, there is a requirement to furnish Form 15CA/15CB electronically. Currently, taxpayers upload the Form 15CA, along with the Chartered Accountant Certificate in Form 15CB, wherever applicable, on the e-filing portal, before submitting the copy to the authorised dealer for any foreign remittance.
- Given the difficulties reported by taxpayers in electronic filing of Income Tax Forms 15CA/15CB on the portal www.incometax.gov.in, it had earlier been decided by CBDT that taxpayers could submit Forms 15CA/15CB in manual format to the authorized dealer till 30th June, 2021. Read more
Published on: 3:11 pm
- Raymond has announced that Joe Kuruvilla, CEO-Lifestyle Business of the Company has decided to step down from his current role and has cited personal reasons for the development.
- Kuruvilla joined the Company in October 2020 from Unilever PLC in the East Europe region and was associated with the Company for a brief period of 8 months.
- Raymond said that while the Company is in the process to appoint a new CEO, Kuruvilla will do the formalities of seamless handover to Ganeshkumar S. who continues as Chief Operating Officer for the Lifestyle Business of the Company. Read more
Published on: 3:03 pm
- Tata Consultancy Services (TCS) has entered into a strategic partnership with India’s premier OTT streaming platform, SonyLIV, to help create an innovative business model enabled by digital technologies, enhance customer experience, and pave the path to future growth.
- The partnership will leverage TCS’ next-gen digital capabilities, global expertise, domain knowledge, and innovation ecosystem to define SonyLIV’s platform transformation roadmap for India and global markets.
- TCS will help enhance its core OTT platform to leverage AI and machine learning to provide personalized experiences to subscribers across devices. It will also help SonyLIV use data and insights to monetize content and create new revenue streams. Read more
Published on: 3:01 pm
- Dynemic Products has started Commercial production for the Food colors Plant at its manufacturing unit situated at Dahej, Gujarat. The production began on July 05, 2021.
- As per the regulatory filing, the cost of setting up the said Plant with an annual capacity of 2760 MT is appx Rs150cr (including Common Utilities). The Cost of the Project was financed through Term Loans taken from Bankers and part of it through the usage of its internal accruals.
- The company further said that the rationale behind this project is to serve the rising demand of Food Color products of Dynemic Products and serve its customer in a better way after this addition of extra capacity at its Dahej Plant. Read more
Published on: 2:55 pm
- Info Edge (India) Ltd has informed that the Board of Directors of the Company on 5th July, 2021, approved acquisition of 100% of the Share Capital on a fully diluted basis of Axilly Labs Private Limited (DoSelect) for an aggregate cash consideration of about Rs21cr.
- The transaction is subject to fulfilment of certain prescribed conditions precedent and other terms and conditions as per Share Purchase Agreements authorised to be signed by the Board for the proposed acquisition.
- "The proposed acquisition would help the Company to offer a new variety of services under its flagship brand Naukri.com helping the Company to further consolidate its position in the online recruitment solutions segment where Naukri.com already enjoys an established leadership position," said company. Read more
Published on: 2:53 pm
- Wockhardt has announced that Wockhardt UK welcomed His Royal Highness The Prince of Wales (Prince Charles) to its Wrexham manufacturing facility. Wockhardt UK has reserved the capacity to allow for the supply of multiple vaccines to the UK government in its fight against COVID-19.
- Founder Chairman of Wockhardt Dr Habil Khorakiwala said, “The visit today by His Royal Highness The Prince of Wales demonstrates recognition of our global strength in sterile injectable facilities and capacity. With four decades of expertise and experience behind us, we have been able to quickly rise to the occasion, scale up the manufacture of the vaccines and assist in mitigating the worldwide impact of COVID-19.” Read more
Published on: 2:41 pm
- RattanIndia Enterprises-led Revolt Motors plans to launch the VOLT – Vehicle OnLine Tracking system for its customers who have booked Revolt e-bikes. The company is working at a feverish pace to expand its production capacities to fulfil the robust demand the company is witnessing.
- Further, to give complete visibility of the delivery of bikes to its customers, the company has launched a VOLT system which enables the customer to track the status of their bike right from booking till the delivery of their bikes.
- Anjali Rattan, Business Chairman, RattanIndia Enterprises who is leading all new business initiatives said, “With the technology as the backbone, we are confident that Revolt shall set the gold standard for consumer buying experience in the entire automotive sector. This is the first step towards offering a 100% contactless experience for all our customers.” Read more
Published on: 2:30 pm
- Indices led by banking stocks continue to trade higher despite drag from Auto, IT, and Pharma stocks.
- BSE Sensex is at 53,003.31 up 123.31 points or 0.23%.
- Nifty50 is at 115,863.65 up 29.30 points or 0.19%. Nifty Bank is trading up 1.36% at 35,690.25 while Mid-cap Index is up by 0.15%. Read more
Published on: 2:26 pm
- The BSE Oil & Gas index trading on a bullish note on Tuesday’s session. The index up over 95 points amid a rally in global crude oil prices.
- On the international front, oil prices jumped to a 3-year high after the media reports stated that the Organization of the Petroleum Exporting Countries (OPEC) and their allies, including Russia, failed to reach an oil output deal for the third time to meet global demand amid post-pandemic recovery.
- The media reports added, OPEC plus members, mainly Saudi Arabia and Russia, are in favour of raising oil output by 400,000 barrels a day from August this year till 2022-end. But the deal did not happen as Saudi Arabia could not come to a consensus with major producers such as UAE at the meeting held in Vienna on Monday. Read more
Published on: 2:20 pm
- As banks are announcing June 2021 (Q1FY21) provisional data for advances and deposits, the stocks on exchanges are riding on a bull run. Bank Nifty index has skyrocketed by more than 595 points so far on Tuesday with an intraday high of 35,807.45 and emerging as among top performers. The index recorded a broad-based buying with private bank stocks witnessing a sharp rally.
- At around 2.14 PM, Bank Nifty was trading at 35,793.55 up 581.55 points or 1.65%.
- AU Small Finance Bank was the top gainer soaring over 8% after the lender announced total deposits of Rs37,014cr in Q1FY22 rising by a whopping 38% yoy and 3% qoq. CASA ratio was at 26% in the Q1 of FY22, higher compared to the same period a year ago. The small finance bank's average cost of funds (AUM) was at 6.3% versus 7.2% in Q1FY21 and 6.8% in Q4FY21. Read more
Published on: 2:20 pm
- CRISIL Ratings has assigned its ‘CRISIL A+/Stable and CRISIL A1’ ratings to bank facilities of Electrosteel Castings Limited.
- The ratings reflect market leadership in the domestic ductile iron (DI) pipes industry and robust operating efficiency parameters driven by backward integration.
- "The ratings also factor in healthy cash generating ability. These strengths are partially offset by exposure of profitability to volatility in raw material prices and a modest financial profile", according to the report. Read more
Published on: 2:10 pm
- Nifty IT stocks emerged the top bear on Tuesday amid bullish markets on Tuesday. Heavyweights Tech Mahindra and TCS dragged the most while Oracle Financial Services Software Limited had a good bull run amidst the gloom in the sector.
- BSE Sensex was trading at 53,104.39 up 224.39 points or 0.42% and Nifty50 at 15,896.15 up 61.80 points or 0.39%. Sensex crossed record 53k on Tuesday.
- The Nifty IT was trading 28,743.65 down 206.95 points or 0.71%, after hitting a high of 28,986.10 and low of 28,727.40 during intraday trade on Tuesday. Read more
Published on: 1:50 pm
- IDFC First Bank registered gross funded assets of Rs113,434cr in the quarter ending June 2021 (Q1FY22) rising by 9% yoy. However, the gross funded assets declined by 3.15% qoq.
- The bank posted total customer deposits of Rs84,583 cr in Q1FY22 up by a whopping 35.53% yoy and 2.25% qoq. Also, in Q1FY22, the bank's CASA deposits increased by 97.73% yoy and 1.2% qoq to Rs46,449cr.
- CASA ratio was at 51.04% in the quarter under review expanding by a breathtaking 1,730 basis points on yearly basis. However, the ratio contracted by 71 basis points quarterly. Read more
Published on: 1:40 pm
- On Tuesday, Bajaj Finance stocks were in fast lane as the company updates to the exchange regarding business information on a consolidated basis with respect to the quarter ended 30th June 2021.
- Customer franchise as of 30th June 2021 stood at 50.5 MM as compared to 43.0 MM as of 30th June 2020. The Company acquired 1.9 MM new customers in Q1 FY22 as compared to 0.5 MM in Q1 FY21.
- New loans booked during Q1 FY22 were 4.6 MM as compared to 1.8 MM in Q1 FY21. Read more
Published on: 1:40 pm
- The Russian Direct Investment Fund (RDIF, Russia’s sovereign wealth fund), and Morepen Laboratories, one of the leading manufacturers of pharmaceutical products in India, today announced the production of the test batch of the Russian Sputnik V coronavirus vaccine in an exclusive facility in the state of Himachal Pradesh (HP).
- The first batch will be shipped to the Gamaleya Center for quality control. RDIF and Morepen Laboratories signed a cooperation agreement in June 2021 and are actively implementing the technology transfer. Sputnik V was granted an emergency use authorization in India on April 12, 2021, company said in a filing on Tuesday. Read more
Published on: 1:35 pm
- AU Small Finance Bank has announced total deposits of Rs37,014cr for the quarter ending June 2021 (Q1FY22) rising by a whopping 38% yoy and 3% qoq. CASA ratio was at 26% in the Q1 of FY22, higher compared to the same period a year ago.
- The small finance bank's average cost of funds (AUM) was at 6.3% versus 7.2% in Q1FY21 and 6.8% in Q4FY21.
- Meanwhile, the bank registered loan AUM of Rs36,635cr in Q1FY22 increasing by 22% yoy but declining by 3% qoq. Similarly, the bank's gross advances rose by 31% yoy to R34,688cr, however, were down by 2% on qoq basis. Read more
Published on: 1:34 pm
- Benchmark indices extended gains and hit fresh intraday high with the Nifty marched towards the crucial 15,900 mark. The S&P BSE Sensex gained 169 points traded at 53,049.98 and the Nifty 50 index gained 52 points or 0.33% to 15,886.
- On the sectoral front, banks, realty and auto stocks were in demand while IT, FMCG and pharma shares declined in today’s trade.
- The broader index traded with gains with the S&P BSE Mid-Cap index was up 0.90% while the S&P BSE Small-Cap index was up 0.63%. Read more
Published on: 1:30 pm
- BSE Sensex is currently 53,064.21 up 184.21 points or 0.35%.
- Nifty50 is currently 15,895.55 up 61.20 points or 0.39%. Nifty Bank is trading up 1.26% at 35,654.60 while Mid-cap Index is up by 0.85%.
- Bajaj Finance, Ultratech Cement, HDFC Bank, Shree Cement, and Tata Motors are the top gainers while Tech Mahindra, TCS, Nestle India, HUL, and NTPC are the top losers. Read more
Published on: 1:24 pm
- IndusInd Bank stock was in the green on Tuesday after the lender announced key business data for the quarter ending June 2021 (Q1FY22).
- The bank has recorded net advances of Rs2,11,159cr in Q1FY22 rising by 7% yoy but down by 1% qoq.
- Meanwhile, the bank posted deposits worth Rs2,67,629cr in the quarter under review increasing by 26% yoy and 4% qoq. Read more
Published on: 1:20 pm
- JTL Infra Limited, one of India’s fastest growing producers of ERW Steel Tubes and Pipes, has announced its sales volume performance for the first quarter ended 30th June, 2021.
- The Company registered a healthy sales volume of 29,235 Metric Tonnes in Q1 FY22. The volume increased by 175.46% yoy. The company’s Derabassi, Punjab Plant along with the Mangaon, Maharashtra plant and Mandi Gobindgarh, Punjab plant are contributing to the sales in significant way, leading to additional growth Read more
Published on: 1:06 pm
- The Nifty FMCG shrugged off broader bullish sentiments of markets on Tuesday as heavyweight stocks take a nosedive. On the index, 8 stocks declined while 7 advanced. Index heavyweights HUL and Nestle weighed down the most. FMCG stocks are in focus ahead of June 2021 quarterly result.
- The sector is expected to witness a healthy first quarter of FY22 as demand continued to improve despite the shocks arising from the second wave of the pandemic. Consumer sentiments have also bettered.
- At around 1.01 PM, Nifty FMCG was trading at 36,330.90 lower by 60 points or 0.2%. The index had reached near-record levels by clocking an intraday high of 36,296.65 in the early deals. However, the index has pulled back and even clocked the day's low of 36,296.65. Read more
Published on: 1:03 pm
- Shares of Airline companies gained in today’s trade after the MoCA increased the capacity of domestic flights to 65% from 50%.
- The MoCA has increased the passenger capacity from July 5 which will be applicable up to July 31 or until further orders, whichever is earlier.
- “This order shall take effect from the date of issue of this order and shall be applicable up to 31.07.2021 or until further orders, whichever is earlier,” the ministry added yesterday. Read more
Published on: 1:00 pm
- Acuité has assigned the long-term rating of ‘ACUITE BBB’ and the short-term rating of ‘ACUITE A3+’ on the Rs71.95cr bank facilities of Vaswani Industries Limited (VIL). The outlook is ‘Stable’.
- According to the Rationale report, the ratings assigned reflect extensive experience of promoters spanning over two decades in iron and steel industry, long track record of operations and above-average financial risk profile of the company.
- On the contrary, ratings are constrained on account of fluctuating profitability margins, working capital intensive nature of operations and intense competition in the industry. Read more
Published on: 12:49 pm
- CARE Ratings Limited has upgraded the Credit Rating of IOL Chemicals and Pharmaceuticals Limited by one notch for the banking facilities availed by the company.
- The rating on long-term bank facilities (Fund Based Working Capital) Rs140cr was upgraded from CARE A with Stable outlook to CARE A+; Stable rating.
- On short-term bank facilities (Non-fund- based working capital) Rs210cr the rating was upgraded to CARE Al+ from CARE Al. Read more
Published on: 12:41 pm
Performance Review for Standalone Q4FY21 vs. Q4FY20
- Total Income at Rs61.03cr compared to Rs36.23cr, up by 68%
- EBITDA at Rs5.25cr compared to Rs2.49cr increased by 111%
- PBT at Rs6.49cr as compared to Rs1.11cr higher by 486% Read more
Published on: 12:33 pm
- ITD Cementation India Limited has secured two orders to the tune of Rs585cr. On Tuesday, the company's stock was in the fast lane and even neared the record high level.
- These two new orders as per the regulatory filing are:
- 1. From Gujarat Metro Rail Corporation Limited for development and construction of Dream City Depot including Metro Bhavan and associated Electrical & Mechanical works in connection with Surat Metro Rail Project, Phase-1. Read more