Published on: 5:10 pm
- UTI Asset Management Company-led UTI Mutual Fund has launched an open-ended equity scheme investing in maximum 30 stocks across market caps – ‘UTI Focused Equity Fund’. The New Fund Offer opens on August 04, 2021 and closes on August 18, 2021. The scheme will re-open for subscription and redemption for an ongoing basis from August 26,2021.
- The investment objective of the scheme is to generate long term capital appreciation by investing in equity and equity related instruments of maximum 30 stocks across market caps. However, there can be no assurance or guarantee that the investment objective of the scheme would be achieved. Read more
Published on: 5:07 pm
- Ramkrishna Forgings Limited, one of the leading supplier of rolled, forged and machined products have received its first-ever order in the EV segment from a Foreign Multinational Tier 1 OEM in India.
- The order marks the beginning of a new segment for the Company having possibilities for global expansion, the company said in the press note.
- Commenting on the order win Mr. Naresh Jalan, Managing Director, Ramkrishna Forgings Limited said: “This is our first order in EV segment which is testimony to our diverse technological expertise enabling us to further diversifies our product offerings. With strong growth seen in EV segment globally this order will enable us to further strengthen our relationship with existing customers as well as new ones in due course.” Read more
Published on: 5:02 pm
- Blue Star Limited reports good financial performance for Q1FY22, despite being a quarter impacted by lockdown restrictions.
- The Company’s Revenue from Operations increased by 68.1% to Rs1052.04cr for the quarter ended June 30, 2021 on a consolidated basis, compared to Rs626.02cr during the same period in the previous year.
- The Operating Profit (PBIDTA excluding Other Income and Finance Income) for the quarter was Rs42.23cr compared to Rs1.36cr in Q1FY21. Net Profit for the quarter was Rs12.69cr compared to a net loss of Rs19.66cr in Q1FY21. Other Income (including Finance Income) for Q1FY22 was Rs7.95cr compared to Rs8.61cr in Q1FY21. Read more
Published on: 4:59 pm
- Indian Hotels said in the regulatory filing that the company’s board to consider fundraising options on August 9, 2021.
- "We wish to inform you that at the Meeting of the Board of Directors of the Company to be convened on August 9, 2021, the Board shall be considering fund raising options for the Company, as it may deem appropriate."
- The details of the proposal shall be intimated in the outcome of the meeting, it added. Read more
Published on: 4:59 pm
- The country's largest lender, State Bank of India (SBI) reported its highest quarterly net profit of Rs6,504cr rising by a whopping 55.25% for the period ending June 2021 (Q1FY22) against Rs4,189cr a year ago same period. The Q1 PAT rose marginally by 0.83% from Rs6,451cr of the preceding quarter.
- Net interest income stood at Rs27,638cr in the quarter under review, rising by 3.74% yoy and 2.11% qoq. Net interest margin was at 3.15% for the quarter. Read more
Published on: 4:55 pm
- lnfomerics Valuation Industries Rating Pvt. Ltd has revised the credit ratings of BCL Industries Limited. The rating on long-term Bank Facility- Cash Credit is revised to IVR A/Stable from IVR A- I/Stable.
- The credit rating agency revised the rating on long-term Bank Facilities - Term Loan to IVR A/Stable from IVR A- I/ Stable. On short-term Bank Facilities, the rating was revised to IVR A1 from IVR A2+. For Fixed Deposit IVR FA / Stable rating was revised from the previous rating of IVR FA-/Stable. Read more
Published on: 4:46 pm
- East West Holdings Limited (Through Wholly owned Subsidiary (WOS) East West Freight Carriers Limited) has announced renewal of its contract worth approx. Rs12 to 14cr with one of its eminent clients ie. Raymond Limited alongwith its parents, subsidiaries and group companies and divisions of Raymond Limited.
- Under this contract the Company will be providing total Logistic Solutions to Raymond Limited and its group companies.
- The above contract will boost the Revenue of the Company and help it expand and sustain leadership in its major lines of business. Read more
Published on: 4:40 pm
- Transport Corporation of India (TCI) shares ended marginally down even though the company posted robust numbers in June 2021 quarters.
- The net profit rose 1048.77% to Rs46.87cr in the quarter ended June 2021 as against Rs4.08cr during the previous quarter ended June 2020.
- The sales also increased 71.58% to Rs696.13cr in the quarter ended June 2021 as against Rs405.72cr during the previous quarter ended June 2020. Read more
Published on: 4:36 pm
- The Minister of State for Petroleum and Natural Gas, Rameswar Teli has informed that Oil Marketing Companies (OMCs) have a system of monitoring and surveillance at the Retail Outlets and checking of adulteration is a continuous process.
- OMCs take action as per Marketing Discipline Guidelines and Dealership Agreement against retail outlet dealers where case of adulteration is established.
- The Central Government has also issued the Motor Spirit and High Speed Diesel (Regulation of Supply, Distribution and Prevention of Malpractices) Order, 2005 under Essential Commodities Act, 1955 which provides for punitive action against malpractices such as adulteration of petroleum products. Read more
Published on: 4:32 pm
- Kajaria Ceramics recorded a net profit of Rs43.06cr in the quarter ended June 2021 as against a net loss of Rs27.10cr during the previous quarter ended June 2020.
- The company’s sales rose 102.36% to Rs561.66cr in the quarter ended June 2021 as against Rs277.56cr during the previous quarter ended June 2020.
- The stock ended at Rs1,025.30 down by Rs2.1 or 0.2% from its previous closing of Rs1,027.40 on the BSE. The scrip opened at Rs1,030 and has touched a high and low of Rs1,052.40 and Rs1,003 respectively. Read more
Published on: 4:32 pm
- Kesoram Industries Limited, a BK Birla group company, on Wednesday has enhanced its fundraising through equity issuance to Rs400cr from Rs200cr as decided earlier.
- The Board of Directors of the company earlier at its meeting held on May 14, 2021 had approved a rights issue of up to Rs200cr out of proposed fund raising proposal for Rs600cr to be raised through one or more modes.
- The Committee today at its meeting has decided to cancel the Preferential Allotment and in lieu thereof recommended to the Board of Directors to enhance the size of Rights Issue from up to Rs200cr to up to Rs400cr. Read more
Published on: 4:24 pm
- Honda Cars India Ltd (HCIL)., a leading manufacturer of premium cars in India will launch the new Honda Amaze on 18th August 2021. The new Amaze will come with a stylish new look, striking exteriors changes and enhanced interiors.
- The company today commenced the pre-bookings of the new car at all authorized Honda dealerships across the country with a booking amount of Rs21000. Additionally, the customers can also book the car online from the comfort of their homes through the ‘Honda from Home’ platform on the HCIL website with an amount of Rs5000. Read more
Published on: 4:23 pm
- Filatex India Ltd has informed to the exchange that company's proposed installation of 30 MW Captive thermal power generation at Dahej unit has been successfully completed and commenced commercial operations w.e.f. August 4, 2021.
- Filatex India ended at Rs104.85 apiece down by Rs1.5 or 1.41% from its previous closing of Rs106.35 apiece on the BSE. Read more
Published on: 4:18 pm
- Honda Cars India Ltd. (HCIL), a leading manufacturer of passenger cars in India, despatched 6,055 units in the domestic market and exported 918 units in the month of July’21.
- The company had registered 5,383 units in domestic sales in the corresponding period last year amidst COVID led operational restrictions. The export numbers stood at 282 in July’20.
- Commenting on the business situation, Mr. Rajesh Goel, Sr. Vice President and Director, Marketing & Sales, Honda Cars India Ltd said, “We achieved our production ramp-up from last week of July and have streamlined supplies in line with market activity. Barring few locations, dealer outlets were mostly operational last month, albeit with lesser capacity.” Read more
Published on: 4:15 pm
- Glenmark Pharmaceutical has announced that Glenmark Life Sciences has allotted equity shares, according to the IPO, at an offer price of Rs720 per equity share, to the successful bidders on August 3, 2021.
- Post the above allotment, the shareholding percentage of Glenmark in Glenmark Life Sciences has reduced from 100% to 82.84%.
- The IPO comprised of a fresh issue of 14,722,222 equity shares by Glenmark Life Sciences and an offer for sale of 6,300,000 equity shares by the Company. The IPO opened for subscription on July 27, 2021, and closed on July 29, 2021. Read more
Published on: 4:15 pm
- Bajaj Healthcare Limited on Tuesday reported a 25.7% rise in net profit to Rs19.21cr in Q1FY22 compared to Rs15.29cr in Q1FY21. Profit before tax in Q1FY22 stood at Rs27.25cr, up by 33.4% from Rs20.43cr in Q1FY21.
- The company reported 32.8% increase in revenue from operations to Rs185.68cr in Q1FY22 from 139.83cr in Q1FY21. Total expenses during the quarter increased b to Rs159.11cr from Rs120.30cr, due to higher raw material costs (up 48.7% yoy), higher employee benefit expenses (up 20.7% yoy), and higher other expenses (up 26% yoy).
- On the segmental front, Bulk Drugs revenue was Rs135.28cr while that from Formulations was Rs50.40cr in the first quarter. Read more
Published on: 4:14 pm
- It has come to the notice of the Reserve Bank of India that certain elements are fraudulently using the name/ logo of the Reserve Bank of India, and seeking charges/ commission/ tax from the public, in transactions related to buying and selling of old banknotes and coins through various online/ offline platforms.
- It is clarified that the Reserve Bank of India does not deal in such matters and never seeks charges/ commissions of any sort.
- The Reserve Bank of India has also not authorised any institution/ firm/ person etc. to collect charges/ commission on its behalf in such transactions. Read more
Published on: 4:06 pm
- India Ratings and Research (Ind-Ra) has assigned Precot Limited a Long-Term Issuer Rating of ‘IND BBB’. The Outlook is Stable.
- Ind Ra assigned IND A3+ rating to Short-term issuer ratings.
- Precot has an established track record of operations for about six decades in the textile segment. Over the years, the company has established its presence in the yarn segment by continuous expansion of capacity and addition of product variations. Read more
Published on: 4:05 pm
- Tata Group-backed, Tata Consumer Products posted a net profit of Rs200.24cr for the quarter ending June 2021 (Q1FY22) declining by 42.05% from Rs345.55cr a year ago same period.
- The company's revenue from operations stood at Rs3,008.46cr, however, was higher in the quarter under review against Rs2,713.91cr last year same quarter,
- For the quarter, revenue from operations increased by 11% (10% in constant currency) as compared to the corresponding quarter of the previous year, mainly driven by the growth of 28% in India Beverages (including NourishCo) and 20% in India Foods; International business reported lower revenue as previous year benefitted from Covid induced pantry stocking. Read more
Published on: 3:47 pm
- The Indian stock markets witnessed yet another session of a strong trend. The Nifty surpassed the 16,250 level with ease to hit an all-time high of 16,290.20. Banks and financial stocks saw heavy demand while FMCG and IT shares came under pressure.
- The BSE Sensex ended at 54,369.77, up 546.41 points or 1.02%, while Nifty50, was up 128.05 points or 0.79% to 16,258.80.
- The broader market underperformed the frontliners with the BSE Mid Cap falling 1.05% and the BSE Small-Cap declining 1.06%. Read more
Published on: 3:38 pm
- Adani Ports and Special Economic Zone (APSEZ) garnered a 77.04% rise in consolidated net profit to Rs1,341.69cr for the quarter ending June 2021 (Q1FY22) against a profit of Rs757.83cr a year ago same period.
- The company's total income stood at Rs4,938.43cr in the quarter under review, increasing from Rs2,749.46cr in the corresponding period of the previous year.
- "Our strategy of establishing a network of world-class ports to balance cargo across the east and west coast has been tracking precisely as per plan, thereby continuing to de-risk our growth as well as lay the foundation of a broader logistics platform. Read more
Published on: 3:29 pm
- The Indian rupee continued to appreciate and hit a 6-week high as local equities touching fresh record highs in today’s session. Currently, the local unit is trading higher by 10 paise at 74.18 against US Dollar.
- At the interbank foreign exchange, the domestic unit opened at 74.16 against the dollar, then inched higher to 74.10.
- Investors will take a look at the Reserve Bank of India's monetary policy meeting this week. Read more
Published on: 3:25 pm
- Adani Enterprises recorded consolidated PAT attributable to owners of Rs271cr for the quarter ending June 2021 (Q1FY22) increasing by 8 times on a year-on-year basis, in line with EBIDTA.
- Consolidated EBIDTA increased by 215% to Rs948cr in the quarter under review, due to an increase in revenue and better margins across all operating segments.
- Meanwhile, consolidated Total Income increased by 131% to Rs12,731cr in Q1FY22 due to a significant increase in solar manufacturing, mining services business and IRM segment volumes. Read more
Published on: 3:17 pm
- India Pesticides Ltd has informed to the exchange that the Board of Directors has considered and approved the further investment of Rs2.30cr in Shalvis Specialities Limited, wholly owned subsidiary of the Company, by way of subscription to equity shares through Rights Issue.
- India Pesticides manufactures agricultural chemicals. The Company provides fungicides, herbicides, insecticides, growth regulators, bulk drugs, pharmaceutical intermediates, rubber chemicals, and biocides, as well as offers cold storage, news paper, and film production services. Read more
Published on: 3:16 pm
- Anjani Portland Cement Limited has purchased another 2804231 (2.01%) fully paid-up Equity Shares of Bhavya Cements Private Limited from its existing shareholders at a price of Rs52.59/- per Share. This has resulted in an increase in the company’s shareholding in the Investee Company to 93.53%.
- The objective of the purchase is to further consolidate the shareholding of the Company in Bhavya Cements Private Limited. The additional purchase would result in an increase in Company's shareholding in Bhavya Cements Private Limited from 91.52% to 93.53%.
- The company had earlier informed about acquisition of controlling stake in the equity shares capital of Bhavya Cements and purchase of 128063646 (91.52%) fully paid-up Equity Shares from existing shareholders of the Investee Company respectively. Read more
Published on: 3:14 pm
- Telecom-giant, Bharti Airtel clocked a consolidated net profit of Rs284cr for the quarter ending June 2021 (Q1FY22) against a net loss of Rs15,933.1cr in the corresponding period of the previous year.
- The company's total revenue was at Rs26,853.6cr in the quarter under review, higher from Rs23,290.3cr a year ago same period.
- India revenues for the quarter stood at Rs18,828.4cr, up 19.2% vis-à-vis Rs15,801.9cr on a re-casted basis in the corresponding quarter last year. Read more
Published on: 3:05 pm
- Raunaq EPC International Ltd has informed that the Board of Directors has considered and approved the transfer by way of sale, 37,06,159 (24.91%) Equity Shares held by the Company in Xlerate Driveline lndia Limited (XDIL), an Associate Company within the Group to Sachit Kanwar, Executive Director - Operations of the Company for a total consideration of Rs2,59,43,113/- (Rupees Two Crores Fifty Nine Lakhs Forty Three Thousand One Hundred Thirteen Only) i.e. Rs7.00 per Equity Share.
- Raunaq EPC International has sufficient in-house resources in terms of Engineering Manpower, Tools & Plants, and Technical know-how besides separate departments for Design & Engineering, Quality Assurance & Inspection etc. to cater the needs for undertaking the Turnkey Contracts of Mechanical, Civil and associated Electrical & Instrumentation works. Read more
Published on: 3:03 pm
- The prices of petrol and diesel remained unchanged for the 18th consecutive day. According to the IOC website, the petrol price in New Delhi stands at Rs101.84 a litre, diesel retails at Rs89.87 per litre.
- In Mumbai, the cost of petrol at Rs107.83 a litre and diesel costs Rs97.45 per litre.
- The fuel prices remain unchanged in Kolkata, where petrol and diesel prices were Rs102.08 and 93.02, respectively. Read more
Published on: 2:50 pm
- The Nifty Metal index was trading lower, however, at a slower pace as base metals glided down due to sweeping Delta variant of COVID-19 that turned market sentiments broadly in negative. A broad-based selloff was recorded in the Nifty Metal index.
- At around 2.48 PM, Nifty Metal is trading at 5,750.50 lower by 27.70 points or 0.48%.
- In the early trade amid record-high levels in Indian benchmarks, the Nifty Metal index touched a new 52-week high of 5,880.70. However, the index pulled back from its new highs and has even slipped to the day's low of 5,727.50. Read more
Published on: 2:41 pm
- Birlasoft Ltd has announced it has been named as a leader in the SAP S/4HANA System Transformation – Midmarket – U.S. region by Information Services Group (ISG), a leading global technology research and advisory firm.
- The ISG Provider Lens SAP HANA Ecosystem Services U.S. 2021 report highlights the current market positioning of S/4HANA consulting and implementation services providers to the Midmarket in the U.S., based on the depth of service offerings and market presence.
- It covers providers of several types of SAP-related services for enterprises, including implementation, managed services for S/4HANA and legacy SAP ERP, support services for SAP cloud deployments, and application development and integration on SAP Business Technology Platform (BTP). Read more
Published on: 2:30 pm
- Indices stretch early gains as banking and financial services stocks soar nearly 3%.
- BSE Sensex is currently 54,359.70 up 536.34 points or 1.00%.
- Nifty50 is currently 16,277.10 up 146.35 points or 0.91%. Nifty Bank is trading up 2.80% at 36,192.30 while Mid-cap Index is down by 1.06%. Read more
Published on: 2:23 pm
- The quantity of API manufactured domestically is not readily available. However, the size of the API and Intermediates market in India is estimated to be Rs96,000cr in FY2019-20.
- Further, as per data maintained by the Directorate General of Commercial Intelligence and Statistics (DGCIS), the quantity and value of API imported and exported in FY 2020-21 is given below:
- The Department of Pharmaceuticals is implementing the following three (03) schemes for promoting domestic manufacturing of APIs to ensure their sustainable domestic supply and make India AtmaNirbhar (self-reliant): Read more
Published on: 2:16 pm
Financial Performance Comparison – Q1 FY22 v/s Q1 FY21
- Revenue from operations increased by 19.18% from Rs18.41cr in Q1 FY21 to Rs21.9cr in Q1FY22
- EBITDA increase by 129.66% from Rs1.02cr in Q1 FY21 to Rs2.3cr in Q1 FY22 Read more
Published on: 2:11 pm
- Shares of Indian Overseas Bank Ltd (IOB) gained after the bank reported Profit after tax (PAT) for the Jun-21 quarter was higher by 171% at Rs327cr due to higher other income and lower provisioning, which fell by more than 11% to Rs868cr.
- NIMs were flat to marginally lower at 2.34% while the CASA ratio was marginally higher at 41.63% in the Jun-21 quarter. Cost to income ratio was also stable at around 53.57%.
- The stock is currently trading at Rs23.50 up by Rs0.15 or 0.64% from its previous closing of Rs23.35 on the BSE. The scrip opened at Rs23.50 and has touched a high and low of Rs23.95 and Rs23.30 respectively. Read more
Published on: 2:10 pm
- Nifty Auto stocks were under pressure, shedding 0.6%. Ashok Leyland declined over 4% while Bharat Forge, Tube Investments of India, and Tata Motors also underperformed. Eicher Motors led the marginal gains.
- Auto sales were in top gear in July with passenger vehicle volumes improving on the back of a healthy order book and an uptick in enquiries and bookings in urban and rural areas.
- However, in the quarterly earnings of auto companies, investors are cautious due to margin compression there. The hike in raw material cost, steel especially, and other costs is affecting auto companies. Read more
Published on: 1:59 pm
- Markets continued to trade at their peak level despite the broader term turning into the red with FMCG, IT, Media and realty stocks underperforming. Sensex and Nifty 50 traded near their fresh historic highs driven by sharp buying in banking and financial stocks.
- Except for banking and financial stocks, all other sectoral indices were in the red on NSE.
- Bank Nifty and Nifty Financial Services skyrocketed a whopping 2.3% and 2.6% respectively. Read more
Published on: 1:56 pm
- Kalpataru Power Transmission Limited (KPTL), a leading global infrastructure EPC company, announced its results for the first quarter ended June 30, 2021.
- The company recorded a PAT at Rs78cr compared to Rs28cr during the same period last year while PAT margin of 2.4%.
- Revenue grew by 38% yoy to Rs3,204cr with healthy execution in projects across all businesses. Read more
Published on: 1:47 pm
- CARE Ratings has revised Canara Bank's Outlook to Stable from Negative while reaffirming the Ratings on Rs8,850cr bonds.
- The rating on Tier II Bonds (Basel III) Rs3,000cr has been reaffirmed at CARE AAA; Stable. Outlook revised from Negative. On Tier II Bonds (Basel III) Rs4,400cr CARE AAA rating reaffirmed. Outlook revised from Negative to Stable.
- The rating on Additional Tier I Bonds (Basel III) Rs1,450cr (Reduced from Rs3,250cr) has been reaffirmed at CARE AA; Stable. Outlook; revised from Negative Read more
Published on: 1:40 pm
- Iris Clothings Limited, a readymade garment company engaged in designing, manufacturing, branding and selling garments for kids wear, has announced financial results for the first quarter ended June 30, 2021.
- Financial Highlights
- Total Income stood at Rs19.6cr, up 243% yoy
- EBITDA margin is at 22.5% compared to 16.0% in Q1FY21, up by a considerable 642 bps
- PAT Margin has been positive despite the Covid impact. Read More
Published on: 1:34 pm
- Pharma company stocks were broadly under pressure as concerns over the rapid spread of Delta variant in the coronavirus pandemic takes centre stage globally hinting for restrictions and slowdown in economic growth recovery. Nifty Pharma was among top laggards on NSE with 7 scrip declining and 3 advancings.
- At around 1.29 PM, Nifty Pharma was trading at 14,604.10 down by 43.75 points or 0.30%. The index has touched an intraday high and low of Rs14,743.30 and Rs14,562.35 per piece respectively.
- The index was dragged by Alkem Lab as the top underperformer plunging 2.3% followed by heavyweights Sun Pharma and Biocon slipping 1.3% and 1% respectively. Read more
Published on: 1:32 pm
- In its effort to chart recovery for international travel, IndiGo, India’s leading carrier, has partnered with International Air Transport Association (IATA) to become the first Indian airline to launch a pilot for IATA Travel Pass to help passengers easily and securely manage their travel in line with any government requirements for COVID-19 testing or vaccine information.
- IATA Travel Pass is a mobile app that helps travellers to store and manage their verified certifications for COVID-19 tests or vaccines. It is more secure and efficient than current paper processes used to manage health requirements. This is important given the potentially enormous scale of testing or vaccine verifications that will need to be securely managed. Read More
Published on: 1:30 pm
- BSE Sensex is currently 54,324.93 up 501.57 points or 0.93%.
- Nifty50 is currently 16,252.95 up 122.20 points or 0.76%. Nifty Bank is trading up 2.02% at 35,919.30 while Mid-cap Index is down by 0.94%.
- HDFC, Kotak Bank, ICICI Bank, HDFC Bank, and Axis Bank are the top gainers. Grasim, Titan, Tata Motors, Sun Pharma, and Tata Consumer are the top losers.
- Nifty Banking and Financial Services soar over 2% to drive trade. All the other sectors are in the negative zone. Realty stocks shed ~2% while PSU Bank stocks also struggle.
- Out of 50 stocks traded on the NSE, 19 advanced and 31 declined. Read More
Published on: 1:23 pm
- Addressing the shareholders of the company at the 62nd AGM through Video Conferencing, S Ram, Chairman, Wheels India Ltd., said that while the CV segment remains muted currently, he expected some recovery in the second half of the year, albeit of a low base.
- S Ram, Chairman, Wheels India said that the passenger vehicle market is expected to show reasonable growth this year. “The increasing adoption of aluminum wheels on passenger vehicles will limit the growth of steel passenger car wheels. We have started production of cast aluminum wheels at our new plant in Thervoy Kandigai, near Chennai and started export of these wheels to the US market. Also, we are seeing strong demand for forged aluminum wheels in export markets.” Read More
Published on: 1:16 pm
- Spandana Sphoorty Financial Ltd has informed that the Management Committee of the Board of Directors of the Company on August 03, 2021 has approved and allotted 300 (Three Hundred) Secured, Rated, Listed, Redeemable, Transferable, Non-convertible Debentures having face value of Rs. 10,00,000/- (Rupees Ten Lakh only) each, at par, on a private placement basis in demat form, in consideration of an aggregate amount of Rs. 30,00,00,000/- (Thirty Crore Only) issued through Disclosure Document dated August 02, 2021.
- Tenure of the instrument is 13 months where date of maturity is August 30, 2022. Read more
Published on: 1:15 pm
- S&P Global Ratings has raised its ratings on Tata Steel to 'BB' on significant expected deleveraging. The rating agency has assigned a 'Stable' outlook.
- In its rationale report, S&P said, "We estimate Tata Steel's adjusted debt (including customer advances and securitized receivables, among other standards S&P Global Ratings adjustments) will fall to about Indian rupees (Rs) 600 billion (about US$8 billion) by fiscal year ending March 2023 in our base case, from about Rs915 billion as of March 2021." Read More
Published on: 1:10 pm
- The Nifty FMCG index dropped to the bottom on Wednesday after leading the markets on Tuesday. The sector shed ~1% with all the listed companies on Nifty FMCG which is trading lower with exception of Varun Beverages. Dabur India led the gloomy picture in the sector by sinking ~4% post Q1 earnings.
- The markets led by banking and financial services were bullish but other sectors struggled with FMCG emerging the top bear. At around 1.10 pm, BSE Sensex was trading at 54,252.83 up 429.47 points or 0.80% and Nifty50 at 16,225.20 up 94.45 points or 0.59%. Read more
Published on: 1:04 pm
- RattanIndia Enterprises backed Revolt Motors, welcomed the government's amendments in Central Motor Vehicles Rules, 1989 to waive off registration charges for Electric Vehicles. This will be a big boost for EV vehicles sales since customers will end up saving a big portion of the vehicle cost as registration charges.
- With falling battery prices, EV bikes prices are already comparable to their petrol counterparts. The waiver of registration charges will further make e-bikes more affordable for the customers. Read More
Published on: 1:01 pm
- Balaji Amines Limited has informed that the Board of Directors on Monday, August 2, 2021 has approved for setting up of new plant for manufacture of Acetohitrile.
- The Existing Capacity of Acetonitrile is 9000 TPA and the current capacity utilization is 60%.
- The proposed capacity addition is 16500 TPA at an outlay of Rs70 to 80cr which will be funded through internal accruals.
- The project will be commissioned in the next 12 to 18 months. Read More
Published on: 12:57 pm
- Birla Corporation-led wholly-owned subsidiary RCCPL Private Limited has received board of directors approval for revision in capital expenditure for setting up of Greenfield Integrated Cement Plant at Mukutban (Maharashtra). Also, the board nodded for restructuring of the scope of the second phase expansion of the grinding cement plant at Kundanganj (Uttar Pradesh).
- According to the regulatory filing, the RCCPL board nodded for revising the capital expenditure from Rs2450cr to Rs2744cr for setting up of a 3.90 million tons Greenfield Integrated Cement Plant at Mukutban (Maharashtra) with 40 MW Captive Power Plant and 10.60 MW Waste Heat Recovery System, on account of the revision in project commencement schedule and other factors including increase in commodity prices. Read more
Published on: 12:52 pm
- The Indian stock markets are trading at fresh all-time highs on Wednesday and Sensex soared past the 54,000 marks. The fresh peaks in benchmarks Sensex and Nifty 50 continued for the second consecutive day as investors had buying spree amid better-than-expected July 2021 earnings of India Inc., adequate liquidity, vaccination drive and conducive global sentiments.
- The stock markets on Tuesday scaled new heights powered by fresh data that indicated a robust economic rebound. On BSE, the market capitalisation has topped Rs2,40,04,664.28cr as on yesterday’s trade. Read more