Published on: 4:52 pm
- Gujarat State Petroleum Corporation Limited has appointed Dr. Rajiv Kumar Gupta as Director of the Company.
- “We are pleased to inform that Gujarat State Petroleum Corporation Limited has nominated Dr. Rajiv Kumar Gupta, IAS (DIN: 03575316) as Director on the Board of the Company. The appointment of Dr. Rajiv Kumar Gupta, IAS w.e.f 8th July 2021 has been approved by the Board of Directors by way of passing the Resolution by Circulation that is effective from 13th July 2021,” the company said.
- Dr. Rajiv Kumar Gupta, IAS is an officer of the 1986 batch of Indian Administrative Services. He is presently the Additional Chief Secretary, Industries and Mines Department, Govt. of Gujarat and the Managing Director of Sardar Sarovar Narmada Nigam Ltd. Dr. Gupta holds a degree in Political Science and is a Gold Medalist. Read More
Published on: 4:45 pm
- India Ratings and Research (Ind-Ra) has upgraded the Mangalam Drugs and Organics Limited’s (MD&OL) Long-Term Issuer Rating to 'IND BBB' from ‘IND BBB-’.
- The rating upgrade reflects MD&OL’s robust revenue growth, healthy margins and improved credit metrics in FY21. Ind-Ra expects this trend to continue in FY22 as well.
- Established in 1972 by the Dhoot family, MD&OL manufactures antimalarial, antiretroviral, antihypertensive, anti-inflammatory and other APIs, along with other pharmaceutical intermediaries. It has two manufacturing facilities in Vapi (Gujarat). Read more
Published on: 4:44 pm
- Seamec Ltd's said in the regulatory filing that the Company has entered into Charter Party with Fastfreight Pte Ltd, Singapore for engagement of the vessel for a period of 6-8 months after completion of the current Charter.
- The estimated Charter Value is about USD 5.22 million, the company said.
- “Further to our letter no. SEAMEC/NSE/SG/SM0/3112/2021 dated 31st December 2021 wish to inform you that our Vessel "SEAMEC GALLANT' will conclude its Time Charter with M/s. M/s. BW Ship DMCC, UAE on 11th July 2021,” the company added. Read More
Published on: 4:32 pm
- Vedanta on Tuesday said its total aluminum production grew 17% to 5,49,000 tonnes in Q1 FY22 compared with 4,69,000 tonnes in Q1 FY21.
- Integrated metal production was 236,000 tonnes for Q1 FY22, up 17% as compared to Q1 FY21 in line with higher availability of mined metal and down 8% as compared to Q4 FY21 on account of lower mined metal production. Integrated zinc production was 188,000 tonnes, up 20% as compared to Q1 FY21 and down by 4% as compared to Q4 FY21, integrated lead production was 48,000 tonnes for Q1 FY22, up 9% as compared to Q1 FY21 and down 21% as compared to Q4 FY21.
- Vedanta Ltd ended at Rs271.60 up by Rs0.5 or 0.18% from its previous closing of Rs271.10 on the BSE. Read more
Published on: 4:30 pm
- Gensol Engineering Limited has received a work order from the one of their reputed clients towards develop 9730 kWp (+/- 10%) Grid Connected Ground Mounted Solar Power Generation System at different factory locations for the fixed lump-sum Contract Price of Rs31,75,00,000.00 (Indian Rupees Thirty-One Crore and Seventy-Five Lakhs Only) exclusive of taxes.
- "The Client intends to develop 9730 kWp (+/- 10%) Grid Connected Ground Mounted Solar Power Generation System different factory locations and shall be completed on or before 15th December, 2021 at an envisaged cost of Rs. 31,75,00,000.00 (Indian Rupees Thirty-One Crore and Seventy-Five Lakhs Only) exclusive of taxes", said company in a regulatory filing.
- Gensol Engineering ended at Rs78 per piece higher by 6.85% on Sensex. Read more
Published on: 4:26 pm
- The Reserve Bank of India (RBI) has announced that retail investors will have the facility to open and maintain the ‘Retail Direct Gilt Account’ (RDG Account).
- As part of continuing efforts to increase retail participation in government securities, ‘the RBI Retail Direct’ facility was announced in the Statement of Developmental and Regulatory Policies dated February 05, 2021, for improving ease of access by retail investors through online access to the government securities market – both primary and secondary - along with the facility to open their gilt securities account (‘Retail Direct’) with the RBI.
- In pursuance of this announcement, the ‘RBI Retail Direct’ scheme, which is a one-stop solution to facilitate investment in Government Securities by individual investors is being issued today. Read more
Published on: 4:20 pm
- Indowind Energy Limited informed the exchanges Wednesday that the company has decided to set aside the receivables from TANGEDCO, Karnataka energy stock pending with BESCOM and receivables, totaling Rs15cr, for reducing debts to free up 9 MW capacity and for dispute settlements.
- The company feels that this decision on completion will help the company to improve profits and future liquidity for expansion.
- Indowind Energy Ltd ended at Rs8.67 per piece up by Rs0.3 or 3.58% from its previous closing of Rs8.37 per piece on the BSE. Read more
Published on: 4:15 pm
- Radico Khaitan Limited has informed that the ESOP Compensation Committee on 13th July 2021 has allotted 80,000 equity shares of Rs2/- each to the eligible employee upon excercise of stock options under the Employees Stock Option Scheme 2006 of the Company.
- The paid-up equity share capital of the company, post allotment is 13,36,73,765 equity shares of Rs2/- each aggregating to Rs26,73,47,530/-.
- The scrip opened at Rs768 apiece and has touched a high and low of Rs779.05 apiece and Rs756.30 apiece respectively.
- On Wednesday, Radico Khaitan ended at Rs777 apiece up by Rs6.85 or 0.89% from its previous closing of Rs770.15 apiece on the BSE Read more
Published on: 4:13 pm
- CARE Ratings in its latest report said that steel consumption and demand for steel tubes and pipes are expected to improve in FY22 with higher levels of economic activities amid optimism that the vaccination program would facilitate normalization and stimulate economic recovery.
- According to the rating agency, the iron and steel pipe industry is one of the key sectors in the infrastructure development of our country. From the extension of pipelines for river interlinking to providing drinking water to every household, the industry plays a critical role in the development of the nation. The overall industry size has grown at double-digit over the last four years and is currently estimated to be around Rs60,000cr.
- India’s iron and steel pipe and tubes industry, valued at nearly Rs.60,000 crore, accounts for around 8% of the global steel pipe market. Read more
Published on: 4:00 pm
- Brightcom Group has approved a proposal to issue and allot 11.96 crore equity shares to FPIs (foreign portfolio investors) and other investors through a preferential allotment at Rs31.17 each with a face value of Rs2 each at a premium of Rs29.17.
- The allotment size is put at Rs373cr, the company said.
- “To issue and allot 11,96,25,000 Equity Shares to the below mentioned SEBI registered FPIs and other investors through a Preferential allotment at Rs31.17/- each (face value of Rs2/- each) at a premium of Rs29.17/- for an allotment size of Rs372,87,11,250,” the company said in the filing. Read More
Published on: 3:53 pm
- Asian Granito India Ltd has informed to the exchange that the Board of Directors have decided to approve a proposal for raising of funds to become debt free and for expansion etc on 14th July 2021.
- Accordingly, the Board has approved the offer and issuance of fully paid-up equity shares of the Company for an amount not exceeding Rs225cr (Rupees Two Hundred Twenty Five Crore Only) by way of a rights issue to the eligible equity shareholders of the Company as on the record date, in accordance with applicable laws, including the Securities and Exchange Board of India Regulations, 2018, as amended, subject to such approvals, as may be required under the applicable laws.
- Asian Granito India ended at Rs187.50 apiece up by Rs3.8 or 2.07% from its previous closing of Rs183.70 apiece on the BSE. Read More
Published on: 3:53 pm
- SVP Global Ventures Limited on Wednesday reported net profit of Rs38.26cr in Q4FY21 compared to net loss of Rs8.28cr in Q4FY20. Yearly PAT declined to Rs24.85cr compared to Rs511.14cr in FY20.
- Net sales of the company rose to Rs436.09cr in the quarter ended March 31, 2021, compared to Rs296.26cr in the same period last year. Yearly net sales decreased to Rs1,262.46cr compared to Rs1,355.49cr in FY20.
- Total expenditure in Q4FY21 was Rs532.72cr compared to Rs330.72cr in Q4FY20. Yearly expenditure was Rs1397.37cr compared to Rs1390.86cr. Read more
Published on: 3:50 pm
- Current Marketing Season RMS 2021-22 has concluded in most of the wheat procuring States and till now (up to July 12, 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 of 389.92 LMT of RMS 2020-21) against the last year corresponding purchase of 387.53 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 867.06 LMTs of paddy (includes Kharif Crop 707.59 LMT and Rabi Crop 159.47 LMT) upto 12.07.2021 against last year corresponding purchase of 758.54 LMT. Read more
Published on: 3:38 pm
- Union Minister of Steel Ram Chandra Prasad Singh, along with Faggan Singh Khulaste, MoS has reviewed the activities and performance of RINL & its subsidiaries- BSLC & OMDC, MSTC & its subsidiary FSNL, KIOCL and MOIL.
- CMD, RINL made a presentation regarding its physical and financial performance, major ongoing projects, important initiatives, areas of concern and the way forward. Steel Minister inquired about the operationalization of the Forged Wheel Plant and the likely date of supply of wheels to Railways.
- He noted the initiatives being taken by RINL to improve its performance. Further, he advised RINL to take all measures to control cost and improve productivity. The status of the OMDC mines was also reviewed. The Steel Minister was apprised of the production and financial performance of BSLC. Read more
Published on: 3:33 pm
- India Grid Trust announced on Wednesday that the company has completed the acquisition of a 100% stake in two solar assets with a cumulative capacity of 100 MW (AC) from Fotowatio Renewable Ventures (FRV) at an enterprise value of Rs660cr.
- With this acquisition, our asset portfolio will now consist of 14 diversified power projects consisting of 40 transmission lines (~7,570 ckms), 11 substations (~13,550 MVA capacity) and 100 MW of solar power plants across 18 states and one Union Territory.
- IndiGrid’s acquisition of its first solar asset is an important milestone in the Indian infrastructure sector as this marks the first renewable energy acquisition by any InvIT in the country. Read more
Published on: 3:31 pm
- CRISIL Ratings has upgraded its ratings on the total bank loan facilities o Rs469cr of Prince Pipes and Fittings Limited (PPFL). The long-term rating has been upgraded to CRISIL A/Positive from CRISIL A-/Stable and the short-term rating has been upgraded to CRISIL A1 from CRISIL A2+.
- “The rating upgrade reflects CRISIL’s expectation that PPFL’s business risk profile will continue to strengthen over the medium term backed by steady top-line growth and profitability.
- The company registered almost 27% y-o-y growth in revenue in fiscal 2021, primarily driven by average realization rising by almost 22% y-o-y, and supported by volumetric growth of almost 4%,” company shared CRISIL Ratings rating rationale. Read more
Published on: 3:24 pm
- Cyient has announced a 12-week gender-neutral parental leave policy across its offices globally. Cyient employees, including birth and adoptive parents of any gender, can take up to 12 weeks of paid time off at full pay following the birth or adoption of their child.
- Krishna Bodanapu, Managing Director and CEO, Cyient, said, “Building an inclusive culture needs inclusive policies and practices. As a parent and a member of the global tech industry, I vouch for policies that challenge gender stereotypes and celebrate diversity. I am confident our gender-neutral policy will empower all new parents globally at Cyient and provide a better opportunity to share childcare responsibilities.” Read more
Published on: 3:19 pm
- Ministry of Consumer Affairs, Food & Public Distribution has informed that in order to bring relief to the most vulnerable, a record allocation 109.33 LMT food grains for free of cost distribution for Uttar Pradesh has been made under PMGKAY.
- Over 14.71 Crore persons of Uttar Pradesh are being benefited through the said scheme. The cost of these food grains amounts to Rs40,093cr.
- Accodrding to the Centre, the Government is bearing the entire cost on account of such distribution including food subsidy, intra-state transportation, dealer's margin/additional dealer’s margin etc and the foodgrains are being issued free of cost to the State Government by Food Corporation of India. Read More
Published on: 3:11 pm
- Markets witnessed a positive day of trade, with the major indices witnessing a continued buying momentum.
- Nifty outperformed the Bank Nifty index by ~0.3%, closing ~0.25% higher.
- Nifty IT index closed on record highs, up ~3% led after Midtree reported better than expected quarterly earnings, fuelling a big rally among its IT peers.
- Nifty Midcap 100 index closed ~0.2% higher. Read more
Published on: 3:09 pm
- Caplin Steriles Limited (Caplin), a subsidiary company of Caplin Point Laboratories Limited, has been granted final approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Sumatriptan Injection USP, 6 mg/0.5 mL (12 mg/mL) Single-dose Vials, a generic therapeutic equivalent version of (RLD), IMITREX Injection, of GlaxoSmithKline, USA.
- Sumatriptan Injection USP is indicated in adults for acute treatment of migraine with or without aura, and acute treatment of cluster headache.
- According to IQVIA (IMS Health), Sumatriptan Injection had US sales data of approximately $5 million for the 12-month period ending March 2021, for Vial presentation. Read More
Published on: 2:48 pm
- The Shareholders of Reliance Power Limited, through postal ballot, have approved with overwhelming majority, Preferential Issue of Equity Shares and Warrants.
- Accordingly, Reliance Power shall allot 59.50cr equity shares and 73cr warrants convertible into an equivalent number of equity shares of the company at a price of Rs10 each by conversion of debt, aggregating upto Rs1,325cr, to Reliance Infrastructure Limited, a listed promoter company.
- Reliance Infrastructure and other promoter groups holding in Reliance Power shall increase to 24.98% and shall further increase to 38.24% on conversion of warrants, benefitting ~8 lakh shareholders of Reliance Infrastructure, the company said in the regulatory filing. Read more
Published on: 2:45 pm
- Liquidity cover at CRISIL-rated non-banking financial companies (NBFCs) has improved from a year ago, putting them in a better position to service debt in the near-term, and cushioning the impact of lower collections because of the second wave of the Covid-19 pandemic, a CRISIL Ratings study shows.
- That is a change from last year, when asset-quality and liquidity fears multiplied after a moratorium on repayments and stringent lockdowns affected collections. This time around, the build-up in liquidity has been a crucial offset.
- "To be sure, collections have once again been affected in the current fiscal by the second wave. The decline has been more pronounced in May (sequentially) because containment measures in most parts of the country kicked in only in the latter part of Apri," said report. Read more
Published on: 2:40 pm
- Bank Nifty was trading with slight gains as investors bet cautiously and resistance was seen on the upside. The index had 6 scrips on the advance side, while 5 scrips declined. The broader markets recovered their early losses and were trading high despite the global cues remained under pressure ahead of a hotter-than-expected U.S. inflation data for June 2021.
- Banking stocks are in focus ahead of major June 2021 quarterly results. For later this month, ICICI Bank and Axis Bank will present Q1 results on July 26 and Kotak Bank will announce its earnings report on July 27.
- At around 2.35 pm, Bank Nifty was trading at 35,700.30 up by 26.90 points or 0.08%. The index has touched an intraday high and low 35,804.05 and 35,434.75 respectively. Read more
Published on: 2:36 pm
- Bengaluru-based IT major Mindtree recorded net profits for the Jun-21 quarter were up 61.22% on a yoy basis at Rs343.40cr as the top line did far better compared to the Jun-20 quarter, along with an improved in the EBITDA and EBIT margins. Even sequential profits were higher by 8.23% due to better cost controls.
- Reacting to the Q1FY22 results, the stock hit a record high on Wednesday’s trade. The stock hit a new 52-week high at 2728.00. The stock is currently trading at Rs2,698.30 up by Rs203.55 or 8.16% from its previous closing of Rs2,494.75 on the BSE. The scrip opened at Rs2,619 and has touched a high and low of Rs2,728 and Rs2,564.95 respectively. Read more
Published on: 2:32 pm
- Computer Age Management Services (CAMS) has touched a new 52-week high of Rs3315 per piece on Sensex during Wednesday's trading session following the company announced that it's for Franklin Templeton is expected to commence on July 19, 2021.
- In a regulatory filing today, CAMS said that "we refer to (i) the prospectus dated September 24, 2021, filed in connection with the initial public offering of equity shares of the Company wherein it was disclosed that the Company has been appointed as the registrar to issue and transfer agent by Franklin Templeton Asset Management (India) Private Limited (“FT”); and (ii) our investor presentation filed with the Exchanges on February 11, 2021, wherein it was informed that the transition including rebadging of certain employees of FT to the Company’s rolls is in progress." Read more
Published on: 2:30 pm
- Indices continue to trade higher in the afternoon as IT stocks soar 3%.
- BSE Sensex is currently 52,888.38 up 118.65 points or 0.22%.
- Nifty50 is currently 15,851.10 up 38.75 points or 0.25%. Nifty Bank is trading up 0.06% at 35,693.35 while Mid-cap Index is up by 0.16%.
- Wipro, Tech Mahindra, HCL Tech, L&T, and Infosys are the top gainers while Maruti, HUL, DR Reddys, Tata Consumer, and Titan are the top losers.
- Nifty IT stocks soar 3% to drive trade on Wednesday. Nifty Auto, Realty and FMCG stocks, and PSU Bank stocks remain in the negative zone.
- Out of 50 stocks traded on the NSE, 27 advanced and 23 declined. Read more
Published on: 2:24 pm
- State-owned NTPC signed a memorandum of understanding (MoU) with UT of Ladakh and LAHDC to set up the country’s first Green Hydrogen Mobility project, strengthening PM Narendra Modi’s vision to ensure a carbon-free economy based on renewable sources and green hydrogen. Union Cabinet Minister for Power and New and Renewable Energy, R.K . Singh congratulated the company.
- Singh said that it is a matter of pride for all of us that Leh is soon to become India's first city to implement a green hydrogen-based mobility project with zero-emission.
- REL, a 100% subsidiary of NTPC, signed an MoU with the Union Territory of Ladakh, on Wednesday to set up the country’s first green Hydrogen Mobility project in the region. Read more
Published on: 2:13 pm
- S&P Global Ratings said that India will likely need to pump in additional capital into any state-owned banks it puts on the block to make them attractive for potential buyers, and faces challenges that range from the need to amend the nation's banking laws to hostile employee unions, analysts say.
- "Selling stakes in these banks will be tough due to their weak financial performance and low equity valuations," said Nikita Anand, an analyst at S&P Global Ratings. "The process to amend banking laws to facilitate stake sales and dealing with labour unions could be time-consuming." Read more
Published on: 2:06 pm
- The S&P Global Ratings have affirmed India's sovereign rating at ‘BBB-' for the 14th consecutive year. The rating is the lowest grade. S&P, however, has maintained a 'stable' outlook on the country.
- In a statement, S&P said that the sovereign credit ratings on India reflect the economy’s above-average long-term real GDP growth, sound external profile, and evolving monetary settings.
- S&P said that India’s democratic institutions promote policy stability and compromise, and also underpin the ratings. These strengths are balanced against vulnerabilities stemming from the country’s low per capita income and weak fiscal settings, including consistently elevated general government deficits and indebtedness. Read More
Published on: 2:05 pm
- The Nifty Metal stocks were trading marginally higher amid bullish markets on Wednesday. The index was over 0.1% higher with Welspun Corp leading the gains and followed by Tata Steel. APL Apollo Tubes continued to be under pressure while National Aluminium Company was also trading 1% lower.
- Indices erased early losses to trade higher with IT stocks taking the lead in gains.At around 2.05 PM, BSE Sensex was trading at 52,874.64 up 104.91 points or 0.20% and Nifty50 at 15,851.50 up 39.15 points or 0.25%. Read more
Published on: 1:52 pm
- Seacoast Shipping Services Limited has informed the exchange regarding takeover of the existing Private Limited company engaging in the related business line of the company.
- The Company has decided to take over DPCL engaged into logistic, supply chain management & warehousing business with a record performance of generating revenue of Rs978cr during FY 2019-20 and more than Rs900cr revenue during FY2020-21.
- Seacoast Shipping Services has been engaged into business of Shipping & Logistics since so many years. SSSL has existing in a place of strong network of Ship-owners provides with access to large fleet of vessels, combined with the expertise of their experienced teams, enables to provide customised transportation solutions for the customers. Read more
Published on: 1:37 pm
- According to the Ministry of Commerce & Industry, India's June Wholesale Price Index (WPI) eased from last month's record high and recorded at 12.07% because of soaring global prices of crude oil and manufactured goods.
- The annual rate of inflation is 12.07% (Provisional) for June 2021 (over June 2020) as compared to 1.81% in June 2020. The high rate of inflation in June 2021 is primarily due to the low base effect and rise in prices of mineral oils viz. petrol, diesel (HSD), naphtha, ATF, furnace oil etc., and manufactured products like basic metal, food products, chemical products etc. as compared the corresponding month of the previous year. Read more
Published on: 1:36 pm
- Acuite Ratings & Research Limited (Acuité) has reaffirmed the credit ratings of Skipper Limited on total of Rs1950cr bank facilities.
- The rating on long-term bank facilities Rs723.50cr has been reaffirmed at Acuite A- with a Stable outlook. On short-term bank facilities Rs1226.50cr, rating of the company has been reaffirmed at Acuite A2+
- At around 1.42 PM, Skipper Ltd was trading at Rs89.70 per piece up by Rs0.5 or 0.56% from its previous closing of Rs89.20 per piece on the BSE. Read more
Published on: 1:30 pm
- BSE Sensex is currently 52,910.61 up 140.88 points or 0.27%.
- Nifty50 is currently 15,857.25 up 44.90 points or 0.28%. Nifty Bank is trading up 0.20% at 35,745.35 while Mid-cap Index is up by 0.12%.
- Wipro, Tech Mahindra, HCL Tech, L&T, and Infosys are the top gainers while Maruti, DR Reddys, HUL, Tata Consumer, and Nestle India are the top losers.
- Nifty IT stocks soar 2.5% to drive trade on Wednesday. Nifty Auto, Realty, and FMCG stocks remain in the negative zone.
- Out of 50 stocks traded on the NSE, 27 advanced, 22 declined and 1 unchanged. Read More
Published on: 1:23 pm
- Nifty IT emerged as the top bull of Wednesday amid major technology companies June 2021 (Q1FY22) quarterly result. Infosys is in focus ahead of its result for later today. All stocks listed on the index were on a bullish note and surged between 1-8%. The index has also regained over the 29,000-mark.
- At around 1.13 pm, Nifty IT was trading at 29,183.10 up by 743.35 points or 2.61%. The index has touched an intraday high of 29,204.20.
- Mindtree was the top gainer soaring by 8% after the company 20.06% growth yoy in total sales revenues for the Jun-21 quarter on a consolidated basis at Rs2,291.70cr. Net profits for the Jun-21 quarter were up 61.22% on a yoy basis at Rs343.40cr as the top line did far better compared to the Jun-20 quarter, along with an improvement in the EBITDA and EBIT margins. Read more
Published on: 1:10 pm
- NSEIT Limited, a wholly-owned subsidiary of the National Stock Exchange of India Ltd (NSE) today announced acquisition of majority stake in an emerging leader in cloud services – Cloudxchange.io.
- Cloudxchange.io augments NSEIT’s vision of becoming a cloud native, niche & innovative digital solution provider for enterprises. The addition of new age cloud offerings of Cloudxchange.io to NSEIT’s digital transformation portfolio will further enhance its offerings to provide a complete 360° digital transformation suite for its enterprise clients. In recent times, entire industry has witnessed an exponential surge in cloud adoption especially during the pandemic. As per Nasscom’s report, 63% of India’s enterprises have increased investments in hybrid cloud which is higher than the global average of 46%. Read More
Published on: 1:10 pm
- Nifty Pharma was trading higher amid as broader markets picked up pace on Wednesday. The Index after a flat start joined the market's positive stance to convert a gloomy start into substantial gains. Biocon and Auro Pharma led the gains while DR Reddys, Alkem Lab, and Torrent Pharma were under pressure.
- At around 1.10 pm, BSE Sensex was trading at 52,952.94 up 183.21 points or 0.35% and Nifty50 at 15,869.70 up 57.35 points or 0.36%.
- Nifty Pharma was trading at 14,511.15 up 51.10 points or 0.35%, after touching a high of 14,547.55 and low of 14,424.05 during intraday trade. Read more
Published on: 1:07 pm
- Baba Ramdev-led Patanjali Group has recorded a turnover of Rs30,000cr for the financial year FY21 aided by robust top-line growth in subsidiary Ruchi Soya. Patanjali aim to make its companies debt-free in the next 3-4 years.
- Ruchi Soya was acquired by Patanjali last year through insolvency resolution. The listed subsidiary has helped a revenue boost of Rs16,318cr to Patanjali.
- While addressing a virtual press conference, Baba Ramdev said that the Patanjali Group is aiming to make its companies debt-free in the coming 3-4 years. He also said that a substantial portion of the follow-on public offer (FPO) of Ruchi Soya that has a debt of around Rs3,330cr will be diverted to pare its debt. Read more
Published on: 1:05 pm
- In a bid to cater to students,especially from rural and difficult to reach parts of India, Testbook along with S Chand and Company has launched a next-generation 'SmartBook' to aid students preparing for competitive examinations for government jobs.
- SmartBook is a physical book created after processing performance data of lakhs of Testbook students. It combines the convenience of physical study material with the power of Ed-Tech.
- Students can able to enjoy the benefits of online education platforms through a 'SmartBook' of their preferred subject for just Rs550. SmartBooks are available at local bookshops, S Chand's web portal and e-commerce websites like Amazon and Flipkart. Read more
Published on: 12:57 pm
- The food delivery online service provider, Zomato was subscribed to nearly 33% on the first day of issue while the retail portion was fully subscribed.
- The retail portion of the public offering was subscribed 1.74x times. The qualified Institutional Buyers (QIBs) portion was subscribed 0.00 times while the portion reserved for non-institutional investors subscribed 0.06 times. Overall, the issue as of now got subscribed nearly 0.33 times.
- The IPO will be available for subscription till Friday, July 16, 2021. Read more
Published on: 12:43 pm
- ICRA has upgraded the credit rating for the bank facilities of Barbeque-Nation Hospitality Limited. The credit rating agency rated bank limits in Axis Bank Rs6.50cr on the long-term scale at ICRA A- with a Stable outlook.
- The rating on the short-term bank limits in Axis Bank Rs5cr and IndusInd Bank Rs15cr has been assigned ICRA A2+.
- At around 12.46 PM, Barbeque-Nation Hospitability Limited was trading at Rs916.15 per piece up Rs17.05 or 1.90% on the BSE. The stock hit a day's high of Rs921 per piece during intraday trade on Wednesday. Read more
Published on: 12:40 pm
- UGRO Capital Limited has informed to the exchange that the Company has issued and allotted 400 units of Commercial Paper (CP) of face value Rs5,00,000/- each, aggregating to total face value of Rs20cr at a discount rate of 7.10% p.a.
- The issue is in favour of The Kangra Central Co-operative Bank and the name of the IPA is Yes Bank.
- The current market cap of the company is Rs828.71cr.
- At around 12:40 PM, UGRO Capital was trading at Rs118 per piece lower by 1.26% on Sensex. Read more
Published on: 12:39 pm
- The Indian rupee opened lower by 12 paise to 74.61 against the U.S. dollar amid firm American currency and weak domestic equities.
- At the interbank foreign exchange, the rupee opened at 74.57 against the dollar, then fell further to 74.61 in the morning trade. Currently, it is trading at 74.57/$, down 8 paise over its previous close.
- On Tuesday, the local unit strengthened for the third straight session closing 9 paise higher at 74.49 against the US dollar. Read more
Published on: 12:30 pm
- Benchmark market indices trade higher. IT, Pharma stocks drive trade.
- BSE Sensex is currently 52,861.79 up 92.06 points or 0.17%.
- Nifty50 is currently 15,843.80 up 31.45 points or 0.2%. Nifty Bank is trading up 0.01% at 35,676.05 while Mid-cap Index is up by 0.16%.
- Wipro, Tech Mahindra, L&T, HCL Tech, and ITC are the top gainers, while Maruti, HUL, Nestle India, IOC, and Grasim are the top losers.
- Nifty IT stocks are 2.3% higher while Pharma stocks are also bullish. Nifty Auto, Realty, and FMCG stocks remain in the negative zone.
- Out of 50 stocks traded on the NSE, 27 advanced and 23 declined. Read More
Published on: 12:10 pm
- SVP Global Ventures Ltd has informed that the Company has received approval for direct listing of its Equity Shares on NSE from the trading hours of July 14, 2021 under the scrip id “SVPGLOB”.
- According to the norms, for the purpose of trading on the system, the security shall be identified only by its designated codes and trading in such securities shall be in lot sizes.
- The equity shares of SVP Global Ventures Limited (Symbol: SVPGLOB) shall be traded in the Normal Market segment (Rolling Settlement) in compulsory demat for all investors. Read More
Published on: 12:02 pm
- Zuari Agro Chemicals Limited informed the exchanges Tuesday that the SSP Plant of the Company in Mahad has resumed its operations with supply of raw materials having been tied up with a supplier.
- The company however has shut down NPK A Plant due to the unavailability of raw materials.
- “We will inform you once the plant operations resume,” the company said in a filing on Tuesday. Read more
Published on: 11:59 am
- Rattanindia Enterprises-led Revolt Motors has welcomed the Maharashtra Electric Vehicle Policy 2021 announced by the state. On Wednesday, Rattanindia stock freezes at the upper circuit.
- In a major fillip for the EV adoption in Maharashtra, the state government will pay Rs. 10,000 per bike as an incentive in Maharashtra. Customers buying electric motorbikes before 31 December 2021 will get additional early-bird incentives of Rs. 15,000 on top of Rs. 10,000 regular incentives, thus making total incentives of Rs25,000.
- According to the regulatory filing, this is above the FAME II incentives for EV manufacturers recently announced by the Central Government which amounts to Rs. 48,000 per bike in case of Revolt. Combining these incentives would mean incentives of at least Rs. 64,000 per bike sold by Revolt in Maharashtra. Read More
Published on: 11:53 am
- Asian markets trading mixed in Wednesday trade after seeing profit booking in the region as US stocks traded lower.
- In Japan, the Nikkei 225 slipped 0.23% while the Topix index on the flatline. The Kospi in South Korea dipped 0.23%, the Shanghai Composite in mainland China declined 0.61% while the Shenzhen component fell marginally.
- Hong Kong’s Hang Seng index shed 0.52%, while, Australia’s S&P/ASX 200 edged 0.39% higher. The Straits Times index in Singapore shed 0.18% in Wednesday trade. Read more
Published on: 11:43 am
- Tata Consultancy Services (TCS) has been ranked number one by revenue among the Top 30 Suppliers of Software and IT Services to the UK Market by TechMarketView.
- .The report is compiled through a detailed analysis of the UK revenues of over 200 publicly quoted and privately held companies. TCS has moved up from last year’s second position. The company performed very well in the revenue rankings by sub-category as well, topping the Applications Operations category, and ranking No 3 in Consulting, and Solutions.
- According to the report, TCS has used the pandemic to re-energize its proposition and positioning within the wider marketplace. It goes on to say that the core role given to innovation continues to be central to TCS’ identity and positioning within the SITS market, and this has worked out well for TCS over the last couple of years. The report highlights that a key part of TCS’ response to Covid-19 has been its accelerated transition to what it calls Secure Borderless Workspaces. Read More
Published on: 11:33 am
- ICRA has assigned credit ratings for the entire banking facilities of Vaibhav Global Limited. The rating on fund‐based limits (Long‐Term) Rs153cr has been assigned ICRA A with a Stable outlook.
- The credit rating agency has assigned ICRA A1 rating on bank guarantee, non‐fund based limits (Short‐Term) Rs2cr and forward contract, non‐fund based limits (Short‐Term) Rs3cr.
- “This Rating indicates an adequate degree of safety regarding timely servicing of financial obligations and carry low credit risk,” company said in a filing on Tuesday. Read More