Live market updates

09th Jul, 2021

Infosys tops CRISIL’s Ranking as the most Environmental, Social, and Governance (ESG) focused Compan

Published on: 5:21 pm

  • Infosys has announced that it has topped CRISIL’s Environmental, Social, and Governance (ESG) performance assessment of the top 225 companies across 18 sectors in India with a score of 79 on 100 (the score was assigned on a scale of 1-100, with 100 denoting best-in-class ESG performance). Infosys has scored 86 on environmental parameters and 68 and 81 on social and governance parameters, respectively.
  • Nilanjan Roy, Chief Financial Officer at Infosys said, “We are extremely proud to be ranked as one of the most ESG focused companies in CRISIL’s ESGauge. ESG is at the core of what we do. At Infosys, we ensure unwavering focus on exemplary responsiveness and governance to ecological and societal needs. This positioning serves as a testament to four decades-worth of work and efforts by our leaders and fellow Infoscions in reaching this milestone. We will continue to augment our existing roadmap and set a benchmark for achievements in the ESG space while continuing to aspire to the next.” Read more

CARE Ratings revises Texmaco Infrastructure & Holdings ratings

Published on: 5:16 pm

  • CARE Ratings has revised Texmaco Infrastructure & Holdings Limited rating on long-term bank facilities to CARE BBB+; Stable from previous CARE A-; Stable. CARE has withdrawn ratings on long-term and short-term facilities.
  • In its rating rationale, CARE said that the revision in the ratings assigned to Texmaco Infrastructure & Holdings Limited (Texmaco) factors in the moderation in the company’s financial credit profile in FY21 (refers to the period between April 01, 2020, and March 31, 2021) marked by vacancies in its leased out property resulting in a shortfall in lease rental income vis-a-vis its lease rental debt repayments and nonrealization of interest income from loans and ICDs given to group companies. Read more

Get Access to Stock Reports+ And Customised Investment Ideas

Easun Capital Markets appoints Amit Sureka as Independent Director and Chairman

Published on: 5:05 pm

  • Easun Capital Markets Ltd has informed the appointment of Amit Sureka as Independent Director and Chairman of the Company.
  • Amit Sureka is a qualified Chartered Accountant and Company Secretary with vast experience in Accounts, Audit, Finance, Taxation & Costing. He is currently associated with a reputed Chartered Firm in Kolkata, from the past 4 years and is responsible for looking after audit, accounts & taxation work of major Clients.
  • He has adequate experience in entire gamut of accounting & financing operations entailing preparation & maintenance of statutory books of accounts and finalizing of year-end financial statements as per statutory requirements. He also has extensive experience in the area of Internal Audit, Internal Control, Statutory Audit, Tax Audit & Process & Stock Audit. Read more

Star Paper Mills partially resumes production at Saharanpur (UP) plant

Published on: 5:04 pm

  • Star Paper Mills has announced on Friday that the company partially resumed production of the plant at Saharanpur (UP) with effect from today after taking necessary measures. Production will be further ramped up in a phased manner.
  • Earlier, the company had temporarily suspended production in the plant at Saharanpur (UP) due to an ongoing COVID-I9 pandemic and thereafter collapse of a part of the roof of one of plant- buildings post the storm like condition/heavy rainfall.
  • On Sensex, Star Paper Mills finished at Rs164.85 per piece down 0.4%. Read More

GIS-enabled Land Bank gains popularity, website sees 30% rise in page views each month since April 2

Published on: 4:59 pm

  • The India Industrial Land Bank (IILB), a GIS-based portal, has seen a 30% increase in page views each month since April 2021 and received 55000 page views in June compared to 44136 page views in May 2021 and 30153 page views in April 2021.
  • In the previous quarter (Apr-Jun 2021), total users were 13,610 out of which 12,996 were unique users with total page views of approximately 1.3 lakh.
  • The portal is a one-stop repository of all industrial infrastructure-related information – connectivity, infra, natural resources & terrain, plot-level information on vacant plots, line of activity, and contact details. Currently, the IILB has approximately 4000 industrial parks mapped across an area of 5.5 lakh hectares of land, serving as a decision support system for investors scouting for land remotely. Read more

Gujarat Industries Power updates about restoration of unit-2 125 MW of Surat Lignite Power Plant

Published on: 4:54 pm

  • Gujarat Industries Power has updated about the restoration of Unit - 2 (125 MW) of Surat Lignite Power Plant (SLPP) of the company situated at Village Nani Naroli, Taluka Mangrol, District: Surat.
  • Earlier, the company force shutdown its 4x125 MW Power Plant at Surat Lignite Power Plant (SLPP) and SLPP Unit·2 due to a major technical snag in Economizer Beams.
  • On Thursday, the company said that the expected amount of Material Damage is around Rs.6.16 crores and the amount of Loss of Profit accounted for in the books during F.y 2020-21 is around Rs.17.25 crores and the same to be accounted for in the books of accounts in the current year, i.e. FY 2021-22 is around Rs. 9.95 crores. Read more

Zomato IPO to open on July 14 with a price band of Rs72-76 per equity share

Published on: 4:41 pm

  • The food delivery online service provider, Zomato has fixed the price band for its initial public offering (IPO) at Rs72-76 per equity share.
  • Zomato's public offer is scheduled to open for subscription on July 14. The issue will be available till July 16.
  • The IPO will be open for anchor investors on July 13.
  • The IPO is valued at Rs9,375cr. The total issue comprised of Rs9,000cr as a fresh issue and an offer for sale of Rs375cr by promoter Info Edge. Read More

CARE Rating upgrades Tata Steel's credit outlook; stock ends 4% higher

Published on: 4:34 pm

  • Shares of Tata Steel closed higher on Friday’s trade after CARE Ratings upgraded the long-term credit rating of the steel major to CARE AA+; Stable from CARE AA; Negative.
  • The credit rating agency said that the revision in rating and outlook assigned to the instruments of Tata Steel (TSL) factors in the improvement in performance witnessed during FY21, sequentially from Q2-FY21 onwards, particularly in Indian operations, on the back of revival in demand and increased steel prices leading to substantial cash flow generation and sizeable deleveraging at the end of FY21 resulting in improvement in debt coverage indicators. Read more

Shri Bajrang Alliance awarded as Food Connoisseurs India Awards 2021; Stock ends 3% higher

Published on: 4:31 pm

  • Shri Bajrang Alliance Ltd ends higher after the company announced that it has been awarded as Food Connoisscurs India Awards 2021. The mentioned award has been honored for Best Frozen Food Brand of the Year 2021 Presented to GOELD Frozen Foods.
  • Food Connoisseurs India Awards 2021 intend to celebrate the creativity and accomplishments of the lndian Restaurant, Catering & rest of the Food Service Industry and recognize the best practices of this industry.
  • The Awards are designed to amplify the standards within Restaurants, Cafes, Fine Dine, Pubs, QSRs and Catering sector/segments by rewarding the organizations, businesses and leaders that have changed the outlook of the industry. Read More

11.82% more wheat procured in comparison to last year’s corresponding period

Published on: 4:19 pm

  • Current Marketing Season RMS 2021-22 has concluded in most of the wheat procuring States and till now (up to July 07, 2021) a quantity of 433.32 LMT of wheat has been procured (which is an all-time high, as it has exceeded the previous high 389.92 LMT of RMS 2020-21) against the last year corresponding purchase of 387.50 LMT.
  • About 49.16 Lakh farmers have already been benefitted from the ongoing RMS procurement operations with an MSP value of Rs85,581.02cr.
  • Paddy procurement in the ongoing season Kharif 2020-21 is continuing smoothly in the procuring States with the purchase of 865.22 LMTs of paddy (includes Kharif Crop 707.78 LMT and Rabi Crop 157.44 LMT) up to July 07, 2021, against last year corresponding purchase of 756.58 LMT. Read More

Danve Raosaheb Dadarao appointed as Minister of State Coal and Minister of State Mines

Published on: 4:18 pm

  • Danve Raosaheb Dadarao took over as the Minister of State in the Ministry of Coal and Ministry of Mines. In addition to Coal and Mines, he has also been assigned the portfolio of Minister of State in the Ministry of Railways.
  • Union Minister Pralhad Joshi extended his best wishes to Danve Raosaheb Dadarao on assuming charge on Thursday. Anil Kumar Jain Secretary Coal, Alok Tandon, Secretary Mines, and Senior officers of both the Ministries were present on this occasion.
  • Further, Ashwini Vaishnaw, Union Minister for Railways, Communication, Electronics & Information Technology, assumed office in Rail Bhavan, Electronics Niketan & Sanchar Bhavan from 08th July, 2021. Read More

Goa Carbon announces resumption of operations at Bilaspur unit

Published on: 4:10 pm

  • Goa Carbon Ltd has informed the exchange that the operations at the Company's Bilaspur Unit located at Sirgitti Industrial Area, Bilaspur (Chhattisgarh) has resumed.
  • The Kiln has been lit up from Friday.
  • After preliminary heat up and commencement of feeding of raw material, normal production is likely to resume shortly, said company in a regulatory filing.
  • On Friday, Goa Carbon ended at Rs402.90 per piece up by Rs3.05 or 0.76% from its previous closing of Rs399.85 per piece on the BSE. Read More

Cabinet approves amendment in Coconut Development Board Act

Published on: 4:07 pm

  • The Union Cabinet has approved the proposal of the Department of Agriculture, Cooperation and Farmers Welfare to make the post of Chairman, Coconut Development Board as Non-Executive one. It will be beneficial to the Coconut Growers at large.
  • Agriculture Minister Narendra Singh Tomar said: "We are going to make amendments in the Coconut Development Board Act."
  • “The post of the chairman will be non-executive and there would be a CEO for executive powers,” Minister Tomar added. Read More

Cabinet approves modifications in Central Sector Scheme of financing facility under 'Agriculture Inf

Published on: 4:00 pm

  • The Union Cabinet chaired by Hon’ble Prime Minister Narendra Modi gave its approval to the following modifications in the Central Sector Scheme of Financing Facility under ‘Agriculture Infrastructure Fund’:
  • Eligibility has now been extended to State Agencies/APMCs, National & State Federations of Cooperatives, Federations of Farmers Producers Organizations (FPOs) and Federations of Self Help Groups (SHGs).
  • At present Interest subvention for a loan up to Rs2cr in one location is eligible under the scheme. In case, one eligible entity puts up projects in different locations then all such projects will now be eligible for interest subvention for loans upto Rs2cr. However, for a private sector entity there will be a limit of a maximum of 25  such projects. Read more

Pratibha Mishra resigns as Nazara Tech Company Secretary and Compliance Officer

Published on: 4:00 pm

  • Nazara Technologies Limited informed the exchanges Friday that Pratibha Mishra has tendered her resignation from the position of Company Secretary and Compliance Officer from the close of business hours of July 09, 2021, due to personal reasons and other commitments.
  • The Board of Directors of the company vide circular resolution dated July 09, 2021, have accepted and took on record resignation of Pratibha Mishra and consequently appointed Kiran Joshi as the Interim Compliance Officer of the Company w.e.f July 10, 2021.
  • Nazara Technologies Limited trade ended at Rs1794.90 per piece up Rs5.80 or 0.32% on the BSE. Its stock hit a day's high of Rs1863.95 per piece during intraday trade on Friday.  Read More

Cabinet approves MoC between CCI and Japan Fair Trade Commission

Published on: 3:56 pm

  • The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the Memorandum on Cooperation (MoC) between the Competition Commission of India (CCI) and Japan Fair Trade Commission (JFTC) to promote and strengthen cooperation in the matter of Competition Law and Policy.
  • The approved MoC, through the exchange of information, will enable CCI to emulate and learn from the experiences and lessons of its counterpart competition agency in Japan which would enhance efficiency.
  • The same will help improve enforcement of the Competition Act, 2002 by CCI. The resultant outcomes will benefit consumers at large and will promote equity and inclusiveness. Read More

Nifty Metal emerges among top bulls, index surges 2%; Tata Steel, NALCO, Vedanta led the pack

Published on: 3:54 pm

  • Metal company stocks closed this week's trading session on a bullish note. The Nifty Metal index has surged by 103.10 points or 1.99% settling at 5,273.60. The index has touched an intraday high and low of 5,283.95 and 5,169.
  • On the index, 13 scrips advanced while 2 declined.
  • Tata Steel was the top gainer soaring by 4.2%, while Vedanta and NALCO soaring by 2.8% and 2.7% respectively. Hindalco and JSPL jumped by more than 2% each. Read more

Technical and derivative: Markets see a lackluster week

Published on: 3:46 pm

  • Markets witnessed a lacklustre week with the major indices traded in a narrow band throughout the major part of the week.  Nifty Index Option gamma writers took the centre stage as the benchmark index closed the week on a flat note.
  • Bank Nifty index outperformed the Nifty index by ~1% with both the indices witnessing an unwinding of long positions during the closing part of the week.
  • On the weekly charts, both the indices have formed a bearish dark cloud cover candlestick pattern, indicating a possibility of a marginal reversal. Read More

HCL empowers bp with Next-Generation Digital Workplace at Scale

Published on: 3:45 pm

  • HCL Technologies Limited (HCL) has successfully completed the first phase in building a modern Digital Workplace for multinational energy company bp. This multi-year strategic partnership with HCL will help transform bp’s workplace services, enabling it to drive efficiency and create a standardized end-user experience for its employees across more than 500 sites, the company said in a filing on Friday.
  • HCL has been providing global Site Support services and managed telephony for 60,000 IT end-users at bp. The implementation of HCL WorkBlazeTM and DRYiCE OptiBotTM has led to significant efficiency gains and supported the rapid shift to remote working in the pandemic. HCL’s success in improving employee satisfaction through better omni channel experiences as well as increased first call resolution led to a five-year extension of the engagement and enhancement of scope to include the Global Service Desk, Microsoft Platform Services and Platform Engineering Services. Read More

Shyam Metalics & Energy posts net profit of Rs388cr in Q4 FY21; stock ends higher

Published on: 3:42 pm

  • Shares of Shyam Metalics & Energy ended higher after reporting strong number in Q4 FY21. The company’s net profit rose 386.02% to Rs387.50cr in the quarter ended March 2021 as against Rs79.73cr during the previous quarter ended March 2020.
  • The company’s sales also increased by 116.90% to Rs2350.51cr in the quarter ended March 2021 as against Rs1083.68cr during the previous quarter ended March 2020.
  • The Board of Directors have recommended a Final Dividend of Rs2.7/- per equity share of Face Value of Rs10/- each (27% of Face Value) for the financial year ended 31st March 2021. Read more

Markets close lower; Metal stocks outperformed

Published on: 3:37 pm

  • Markets witnessed a lacklustre day of trade, with the major indices trading in a narrow range throughout the day.
  • Bank Nifty underperformed the Nifty index by ~0.4%, with both the indices closing ~0.6%/0.2% lower. Banking heavyweights were among the top for the second consecutive trading session while Nifty Metal index closed ~2% higher. Stocks like Tata Steel, JSW Steel & JSL Hisar were among the top gains adding fresh long positions.
  • Nifty Midcap 100 index closed ~0.7% higher.
  • Market breadth ended in the favour of the advances with the advance/decline ratio closing at 3:2x. Nifty saw an unwinding of long during the day. Read More

H G Infra Engineering emerges as L-1 bidder from NHAI; Stock sheds 2%

Published on: 3:25 pm

  • H G Infra Engineering Ltd has informed that the Company has been declared as L-1 bidder by National Highways Authority of India (NHAI) for the project.
  • The project is for development of 6-lane Urban Extension Road -2- NH 344 M, Package 1 (from NH 1 to Karala- Kanjhawala Road, in the state of Delhi on EPC mode.
  • The estimated project cost is Rs1646.57cr and the completion period is for 2 years.
  • At around 3:25 PM, H G Infra was trading at Rs487.10 per piece lower by 1.88% on Sensex. Read more

HCL Tech partners with The Mosaic Company to provide digital transformation and managed services

Published on: 3:22 pm

  • HCL Technologies (HCL) on Friday announced a five-year, global agreement to provide digital transformation and managed services to The Mosaic Company, a Fortune 500 company and the largest U.S. producer of phosphate and potash. As part of the agreement, HCL will manage and transform Mosaic’s global application and infrastructure environments to enhance the company’s agility and ability to drive growth in the marketplace.
  • “Our partnership with HCL will allow Mosaic to create a stronger digital and analytics foundation to accelerate the ROI for key enterprise transformation priorities through innovation, insights, speed, and scale,” Jeff Wysocki, CIO for The Mosaic Company, said.Read more

Danve Dadarao appointed as Minister of State Coal and Minister of State Mines; Bhagwanth Khuba as Mi

Published on: 3:22 pm

  • According to the Ministry of Mines, Danve Raosaheb Dadarao took over as the Minister of State in the Ministry of Coal and Ministry of Mines from Thursday. In addition to Coal and Mines, he has also been assigned the portfolio of Minister of State in the Ministry of Railways.
  • Union Minister Pralhad Joshi extended his best wishes to Danve Raosaheb Dadarao on assuming charge. Anil Kumar Jain Secretary Coal, Alok Tandon, Secretary Mines, and Senior officers of both the Ministries were present on this occasion.
  • Further, the Ministry of New and Renewable Energy said that Bhagwanth Khuba took over as the Minister of State in the Ministry of New and Renewable Energy in the presence of R. K. Singh, Cabinet Minister for Power and New and Renewable Energy. Read More

ICRA assigns BBB+ / Stable rating on bank facilities of Shyam Century Ferrous

Published on: 3:21 pm

  • ICRA Limited has assigned credit rating on bank facilities of Shyam Century Ferrous Limited. The credit rating agency has assigned the long-term rating of ICRA BBB+, the outlook on the long-term rating is Stable. It has also assigned a short-term rating of ICRA A2+ on the company’s bank facilities.
  • Towards close of trade on Friday, Shyam Century Ferrous Limited was trading at Rs9.70 per piece down Rs0.07 or 0.72% on the BSE. The stock hit a day's high of Rs10.11 per piece and Rs9.30 per piece during intraday trade on Friday. Read more

Tube Investments board approves investments in startups not exceeding Rs25cr

Published on: 3:00 pm

  • Tube Investments of India has informed the Board of Directors approved the making of investments by the Company in Startups.
  • The start-ups are engaged in innovative research and product development in fields/activities of interest to the company.
  • The investment is not exceeding Rs25cr in the aggregate.
  • The Board further approved the inclusion of an item in the Notice of the ensuing 13th Annual General Meeting to seek the approval of the Shareholders for the aforesaid investment under Section 186 of the Companies Act, 2013. Read More

Essar Shipping to foreclose Bare Boat Charter cum Demise Agreement for vessels

Published on: 2:50 pm

  • Essar Shipping Ltd has informed that the Board of Directors of the Company by a unanimous circular-resolution have approved the foreclosure of Bare Boat Charter cum Demise (BBCD) Agreement for the vessels MV Maithli and MV Maanika based on economic viability after obtaining the requisite regulatory approval.
  • Essar Shipping Ltd., now Essar Shipping Ports & Logistics Limited, is an Indian shipping corporation for the global energy business. The company is a part of Essar Group.
  • At around 2:50 PM, Essar Shipping was trading at Rs11.35 apiece up by Rs0.05 or 0.44%.
  • Previously, the scrip was closed at Rs11.30 apiece on the BSE. Read More

Bank of Baroda enrols Alankit in Bank–Sakhi project under UPSRLM

Published on: 2:49 pm

  • Alankit Limited has announced that the Bank of Baroda has now also enrolled the Company in the Bank–Sakhi Project (BC-Sakhi) under UPSRLM and other allied mandates of Financial Inclusion in Rural Uttar Pradesh.
  • Alankit has been providing services as a Business Correspondent to the Bank of Baroda.
  • At around 2.47 pm, Alankit was trading at Rs22.95 per piece down by 2.96% on Sensex.
  • The stock has touched an intraday high and low of Rs23.75 per piece and Rs22.35 per piece respectively.  Read more

Bank Nifty nosedives over 290 pts as heavyweights HDFC Bank, Axis Bank, ICICI Bank drag; AU Small to

Published on: 2:35 pm

  • Bank Nifty pulled back from their steep selling pressure of the early session, however, still traded lower with heavyweight private banks dragging the sector most on Friday. June 2021 quarter has taken centre stage with banks lined up to announce their financial performance for this period later this month.
  • However, the new mounting fears about the increasing spread of the Delta variant of the coronavirus around the world - has dampened markets outlook.
  • At around 2.34 pm, Bank Nifty was trading at 34,981.95 nosediving by 292.15 points or 0.83%. The index has touched an intraday high and low of 35,225.20 and 34,859.90 respectively. Read more

Market pulse at 2:30 PM today

Published on: 2:30 pm

  • Indices remain lower despite recovering few losses in the afternoon session as pharma stocks rally to join bullish, with metal and realty stocks.
  • BSE Sensex is at 52,391.70 down 177.24 points or 0.34%.
  • The Nifty50 is at 15,688.10 down 39.80 points or 0.25%. Nifty Bank is trading down 0.59% at 35,066.30 while Mid-cap Index is up by 0.58%.
  • Bajaj Finserv, Tata Steel, Adani Ports, Divis Lab, and Bharti Airtel are the top gainers while Bajaj Auto, TCS, HDFC Bank, Wipro and Axis Bank are the top losers.
  • Nifty Metal and Realty stocks continue to drive trade while Nifty Pharma stocks also surge in the afternoon. Nifty IT, Auto, Banking and Financial Services stocks remain in the negative zone despite trimming losses. 
  • Out of 50 stocks traded on the NSE, 20 advanced and 30 declined. Read more

Nifty auto trade mixed; Tata Motors, Ashok Leyland stocks outperforms; Eicher Motors, Bajaj Auto in

Published on: 2:30 pm

  • The Auto index was trading in the negative zone, with the Nifty Auto index falling 0.32% at 10,420.15 in the afternoon session. The index opened on a negative note amid weak global cues and weak domestic markets.
  • The Nifty Auto was trading at 10,433.75 down 36 points or 0.34%, after touching a high of 10,456.05 and a low of 10,386.05 during the intraday trade.
  • Shares of Ashok Leyland gained 0.69%, Maruti, Tata Motors and Amara Raja were in the positive territory, while, Hero MotoCorp, Bharat Forge, Balkrishna, Bosch and MRF are in the red zone. Read more

Gadkari calls for a reduction in the use of steel and cement in road construction without compromisi

Published on: 2:18 pm

  • The Union Minister for Road Transport & Highways Nitin Gadkari has said that the use of steel and cement should be reduced in road construction without comprising quality through innovation and research.
  • While addressing the 16th Annual Conference on “Road Development in India” he said CNG, LNG and ethanol should be used for the road equipment machinery. The Minister emphasized import substitution, cost-effective, pollution-free and indigenous methods and development of alternative fuel.
  • Gadkari said India with about 63 lakh km of the road network is the second largest road network in the world. He said road infrastructure plays a critical role in the growth of the economy as 70 per cent of the goods and nearly 90 per cent of passenger traffic uses roads to commute. Read more

Nifty FMCG stocks make steady gains amid weak markets; Emami, Marico shine

Published on: 2:10 pm

  • The Nifty FMCG stocks rose marginally after a gap down start to trade higher on Friday. Emami advanced ~3% to lead the gains while Marico also gained 1%. Colgate Palmolive dragged the most.
  • At around 2.10 PM, Nifty FMCG was trading at 36,232.75 up 53.65 points or 0.15%, touching a high of 36,316.55 and low of 36,083.20 during intraday trade on Friday.
  • The markets after being bearish for the most part of the day are trimming some losses. BSE Sensex was trading at 52,394.72 down 174.22 points or 0.33% and Nifty50 at 15,688.80 down 39.10 points or 0.25%. Read More

BHEL wins Rs1,045cr order from NPCIL for nuclear steam generators

Published on: 2:10 pm

  • Against stiff competitive bidding, Bharat Heavy Electricals Limited (BHEL) has won a major order for the supply of 12 Steam Generators from Nuclear Power Corporation of India Limited (NPCIL).
  • Valued at Rs1,405cr, the order has been won under NPCIL’s Fleet Mode procurement programme and mandates supply of 12 Steam Generators for India’s highest rated indigenously-developed 700 MWe Pressurized Heavy Water Reactors (PHWR) to be set up at four different locations in the country. The Steam Generators will be manufactured at the Tiruchirapalli plant of BHEL.
  • Significantly, this is the second major supply order secured by BHEL through competitive bidding for the Fleet Mode implementation programme of 10x700 MWe Nuclear projects by NPCIL. The first equipment order secured by BHEL under this programme, for the supply of 32 Reactor Header Assemblies, is currently under execution. Read more

PM: Deploy advanced technology like IoT to track performance and functioning of oxygen plants

Published on: 2:07 pm

  • Prime Minister Narendra Modi has reviewed the progress of oxygen augmentation and availability across the country. Officials briefed PM about the progress on the installation of PSA Oxygen plants across the country.
  • In a statement in PIB today, the PMO office stated more than 1500 PSA Oxygen plants are coming up across the nation which includes a contribution from PM CARES as well as various ministries & PSUs.
  • PSA Oxygen plants contributed by PM CARES are coming up in all states and districts of the country. PM was informed that once all PSA Oxygen plants coming up through PM CARES would be functional, they would support more than 4 lakh oxygenated beds. Read More

Manner of dealing with companies undergoing Corporate Insolvency Resolution Process: NSE

Published on: 2:07 pm

  • SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 ("LODR Regulations") was amended in the year 2018 vide SEBI (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulations, 2018, and point 16 was inserted in Para A of Part A of Schedule III of LODR Regulations w.e.f. May 31, 2018, which mandated disclosures at various stages by companies undergoing Corporate Insolvency Resolution Process ("CIRP"). This was further amended by SEBI (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2021, which enhanced the disclosure requirement w.e.f. January 08, 2021, according to the stock exchange,.
  • In the recent past, we have come across instances where the approved resolution plan provides for delisting of the company or write off/ cancellation/ extinguishment of existing equity shares without any payout/consideration to the existing shareholders. However, it is observed that there is a considerable time lag between the pronouncement of oral Order by NCLT and the final written order by NCLT. Companies generally hold on to the information and do not make any/ timely disclosure to the stock exchanges until receipt of a written copy of the Order. By this time, the information may be available to a select group of people and may create information asymmetry and confusion in the market. Read more

BSE Oil & Gas under pressure as heavyweights RIL, HPCL, Gail, BPCL weigh down; ONGC, GSPL shines

Published on: 1:50 pm

  • Oil company stocks were in a bearish trend on Friday after crude oil prices continued their volatility this week. Heavyweight stocks were under pressure dragging down BSE Oil & Gas index.
  • At around 1.42 PM, BSE Oil & Gas was trading at 15,867.79  down by 68 points or 0.4%. The index has touched an intraday high and low of 15,971.05 and 15,812.82 respectively.
  • HPCL was the top underperformer plunging 1.6% followed by Indraprastha Gas and Gail tumbling more than 1% each. Read more

Union Bank accepts bids to raise Rs1,150cr by issuing bonds

Published on: 1:44 pm

  • Union Bank of India has accepted bids to raise up to Rs1,150cr by issuing Basel III-compliant bonds.
  • The Bank is issuing Basel Ill Compliant Debt instruments in the nature of Debentures eligible for inclusion in Tier-2 Capital (Bonds) Series XXXl, at a face value Rs1cr per bond, of Rs500cr with Green Shoe Option up to Rs650cr (maximum Rs1,150cr) on Private Placement basis.
  • The tenor of the bond issue is 15 years with redemption date on July 9, 2036. The coupon rate 7.25% p.a. The bonds have rating of IND AA+ / Stable by India Rating & Research Pvt. Ltd. and ICRA AA+(hyb) ‘Negative’ by ICRA Ltd. Read More

Alembic Pharmaceuticals gets USFDA approval for Erlotinib Tablets

Published on: 1:40 pm

  • Alembic Pharmaceuticals Limited has received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Erlotinib Tablets, 25 mg, 100 mg, and 150 mg.
  • The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD), Tarceva Tablets, 25 mg, 100 mg, and 150 mg, of OSI Pharmaceuticals, LLC.
  • Erlotinib Tablets are indicated for the treatment of patients with metastatic non-small cell lung cancer (NSCLC) whose tumors have epidermal growth factor receptor (EGFR) exon 19 deletions or exon 21 (L858R) substitution mutations as detected by an FDA-approved test receiving first-line, maintenance, or second or greater line treatment after progression following at least one prior chemotherapy regimen. Read More

JSW Steel stock surges over 1% after Group's combined crude steel production rises 65% yoy to 5.07MT

Published on: 1:31 pm

  • JSW Steel announced that the Group's combined crude steel production stood at 5.07 million tonnes for the first quarter of FY22 (Q1FY22) - registering a growth of 16% qoq and 65% yoy. This included the production at jointly controlled entities Bhushan Power & Steel and JSW Ispat Special Products.
  • The company highlighted that the capacity utilization at the standalone level was at 91% in Q1FY22 due to a shortage of oxygen vis-a-vis 93% in Q4FY22 as the company supplied over 65,000 tonnes of liquid oxygen during Q1FY22 for medical purposes from the Steel Complexes of the Company across India.
  • Also, the company announced that JSW USA Ohio restarted Electric Arc Furnace in March 2021 after refurbishing and the capacity is being ramped up. Read More

Petrol and diesel prices unchanged today

Published on: 1:31 pm

  • Today, the petrol and diesel prices unchanged after being hiked for two consecutive days. The latest petrol prices were hiked and prices going past Rs100 in Delhi and Kolkata.
  • Mumbai was the first metro city to see petrol price crossing the psychological barrier, it was joined by Chennai which was followed by Delhi and Kolkata. 
  • The petrol price in Mumbai is Rs106.59 per litre, In Delhi, petrol price retailing at Rs100.56 per litre, while in Kolkata the going rate is Rs100.62 per litre. Further, the petrol rate in Chennai is at Rs101.37 per litre. Read more

Market pulse at 1:30 PM today

Published on: 1:30 pm

  • BSE Sensex is at 52,354.56 down 214.38 points or 0.41%.
  • Nifty50 is at 15,673.80 down 54.10 points or 0.34%. Nifty Bank is trading down 0.64% at 35,048.60 while Mid-cap Index is up by 0.21%.
  • Bajaj Finserv, Tata Steel, Adani Ports, Divis Lab, and Bharti Airtel are the top gainers while Bajaj Auto, TCS, Axis Bank, Shree Cement, and Eicher Motors are the top losers.
  • Nifty Metal and Realty stocks continue to surge while Nifty IT, Auto, Banking and Financial Services remain under pressure.
  • Out of 50 stocks traded on the NSE, 17 advanced and 33 declined. Read More

Ind-Ra upgrades Camlin Fine Science to 'IND A-' with Stable outlook

Published on: 1:25 pm

  • India Ratings and Research (Ind-Ra) has upgraded Camlin Fine Sciences Limited’s (CFSL) Long-Term Issuer Rating to ‘IND A-’ from ‘IND BBB+’. The Outlook is Stable
  • Ind-Ra continues to take a consolidated view of CFSL and its subsidiaries for arriving at the ratings because of the strong operating linkages among them.
  • According to the rationale, the upgrade reflects the steady improvement in CFSL’s operating performance over FY18-FY21 and the substantial improvement in the credit profile. Read More

Nifty IT index under pressure; Coforge, TCS, Wipro emerge top losers

Published on: 1:15 pm

  • The Nifty IT continued to struggle amid bearish markets on Friday. The IT sector is in focus as Tata Consultancy Services announced quarterly earnings on Thursday and other IT giants Infosys and Wipro will announced earnings next week.
  • Coforge sank ~3% while heavyweights TCS, and Wipro were also under selling pressure.
  • On a positive note, Oracle Financial Services Software Limited surged over 3% and Mphasis was also in the fast lane. Read More

Tata Power installs fast DC charging station for e-vehicles near Statue of Unity in Gujarat

Published on: 12:57 pm

  • Tata Power, India’s largest integrated power company has installed the first-ever Fast DC electric vehicle (EV) Charger at the home to the world’s tallest statue and famous Indian Landmark -  Statue of Unity located at Kevadia in Gujarat.
  • The Tata Power EZ Charge (Charging Station) at Kevadia, near the railway station, will become an important pit stop for EV users. EV users can access this charger through awarding-winning Tata Power EZ Charge application.
  • It offers a seamless user interface, making it convenient for all EV owners to locate, navigate, book, charge, pay & check the availability of the nearest e-charging stations in real-time. Read more

Ashoka Buildcon gets letter of award worth Rs482.3cr from IRCON International; stock soars 3%

Published on: 12:52 pm

  • Ashoka Buildcon Limited said in the regulatory filing that it has received a Letter of Award (LOA) from IRCON International Limited in respect of the Project, Viz. "Provision of supply, Erection, Testing & Commissioning of Electro-Mechanical (E&M) System on Dharam-Katra Section of USBRL Project (J&K).
  • “Ashoka Buildcon Limited ('the Company'), is pleased to inform that the Company has received a Letter of Award (LOA) from IRCON International Limited in respect of the Project, Viz. ''Provision of supply, Erection, Testing & Commissioning of Electro-Mechanical (E&M) System which includes 33/11kV & 11/0.433kV GIS Substations, 33kV & 11kV Power Cable network, DG Sets, Ventilation & Control System, Lighting, UPS System, Fire Fighting System & SCADA System, etc. and associated works complete in all respect as required for Tunnel T-14 & T-15 + T-40/41 on Dharam-Katra Section of USBRL Project (J&K) - (Package: T-14 & T-15 + T-40/41, E&M)'; Tender No. : IRCON/J&K-Cell/JAT/15/1014/T-14 & T-15 + T-40/41, E&M,” the company said.  Read more

IRCTC to restore services of Ahmadabad Mumbai Tejas Express from August 7

Published on: 12:50 pm

  • Indian Railway Catering & Tourism Corporation Limited informed the exchanges Friday that the services of Ahmadabad Mumbai Tejas Express will be restored from August 07, 2021.
  • The train will run four days in the week viz, Friday, Saturday, Sunday, and Monday.
  • Due to the rising of corona cases in Maharashtra and Gujarat, services of Ahmedabad Mumbai-Ahmedabad Tejas Express were suspended first from April 2, 2021 and the suspension was extended time to time due to second wave of Covid-19 and restrictions imposed by Maharashtra and Gujarat Government to contain the spread of pandemic. Read more

Tractor sales volume growth to be in low-mid single digits of 3%-6% yoy in FY22: Ind-Ra

Published on: 12:33 pm

  • In the research, India Ratings and Research (Ind-Ra) expects tractor sales volumes to grow in low-mid single digits of 3%-6% yoy in FY22, mainly on a higher base following the 27% yoy growth witnessed in FY21.
  • The macroeconomic tailwinds mostly remain intact for the rural economy, including the normal monsoon forecast, expectation of a strong Kharif harvest, and improved rural income.
  • Though the second covid wave had impacted sales in April-May 2021, with the average monthly sales dropping to 76% of the monthly sales achieved in 4QFY21, the industry witnessed a sharp rebound in sales volume in June 2021, as per data released by original equipment manufacturers (OEMs). Read more

Bulk Deals: From Uttam Galva to Asian Granito India

Published on: 12:31 pm

  • Below are the major bulk deals that took place on the bourses on Thursday.
  • According to the bulk deal data, Alpha Leon Enterprises LLP offloaded 10 lakh shares in Uttam Galva Steels at a price of Rs3.85 per share.
  • Whereas, Shruti Lodha sold 1.85 lakh equity shares in Asian Granito India at Rs180.73 per share, while Niraj Rajnikant Shah acquired 90,000 equity shares in Ausom Enterprise at Rs96.42 per share. Read more

Market pulse at 12:30 PM today

Published on: 12:30 pm

  • Domestic market barometers remain bearish as IT stocks continue to fall, whereas auto and banking stocks also  struggling .  
  • BSE Sensex is currently 52,322.53 down 246.41 points or 0.47%.
  • The Nifty50 is currently 15,660.65 down 67.25 points or 0.43%. Nifty Bank is trading down 0.61% at 35,059.85 while Mid-cap index is up by 0.06%.
  • Adani Ports, Bajaj Finserv, Tata Steel, Divis Lab, and Bharti Airtel are the top gainers while Bajaj Auto, TCS, Wipro, Axis Bank, and Shree Cement are the top losers.
  • Nifty Metal and Realty stocks surge while Nifty IT, Auto, Banking and Financial Services stocks drag.
  • Out of 50 stocks traded on the NSE, 15 advanced and 35 declined. Read more

Editors Choice


Blogs & Personal Finance


Stock View

Refinitiv Logo

Disclaimer : All estimates (1 year forward) are based on Consensus View provided by Refinitiv.

Open ZERO Brokerage Demat Account