Published on: 5:24 pm
- Ujjivan Small Finance Bank reported a net loss for the Jun-21 quarter stood at Rs233.48cr against a net profit of Rs54.65cr in the Jun-20 quarter. The dip into losses can be largely attributed to the tripling of loan loss provisions to Rs475cr against just Rs141cr in the Jun-20 quarter. The SFB also saw a spike in other operating expenses in the quarter.
- The company’s posted a 7.57% fall in total sales revenues yoy for the Jun-21 quarter on consolidated basis at Rs716.29cr. On a sequential basis, revenues were down -2.56% compared to Rs735.14cr revenues in Mar-21 quarter on limited COVID 2.0 imprint. Read more
Published on: 5:16 pm
- BSE Ltd. (BSE), Asia’s oldest and first universal exchange and World’s fastest exchange with a speed of 6 microseconds, announced its unaudited consolidated and standalone financial results for the quarter ended June 30, 2021.
- Consolidated Net profit attributable to the shareholders for the quarter ended June 30, 2021 up by 61% to Rs53.42cr from Rs33.15cr in corresponding quarter of previous year.
- Its consolidated Operating EBITDA for the quarter ended June 30, 2021, up to Rs41.31cr from a loss of Rs13.77cr in the corresponding quarter of the previous year. Read more
Published on: 5:10 pm
- REC Limited will incorporate a project-specific special purpose vehicle (SPV) as wholly-owned subsidiary of REC Power Development and Consultancy Limited (RECPDCL) for development of transmission projects for Eastern and North Eastern regions'
- “Board of Directors of REC Limited in its meeting held on August 5, 202 I inter-alia approved the proposal for incorporation of a project SPV as wholly-owned subsidiary of RECPDCL for development of transmission project allocated by Ministry of Power, Government of India for System Strengthening Scheme for Eastern and North Eastern regions.
- The company to be incorporated will also be wholly owned subsidiary company of REC Limited,” company said in a filing on Friday. Read more
Published on: 4:59 pm
- Pidilite Industries Limited informed the exchanges Friday that the company’s wholly-owned subsidiary namely Madhumala Ventures Pvt. Ltd. (MVPL) has on August 6, 2021, completed the acquisition of an additional stake in Aapkapainter Solutions Pvt. Ltd. to take its holding to 47%, on a fully diluted basis.
- “MVPL is not a material subsidiary of the Company,” the company said in a filing.
- Madhumala Ventures had in July agreed for a cash investment of Rs14.96cr in Aapkapainter Solutions through the primary and secondary purchase of shares, consequent to which, Madhumala’s stake in AKP shall increase from 28.89% to 47%, on a fully diluted basis. Read more
Published on: 4:58 pm
- Karur Vysya Bank has revised its Marginal Cost of Funds Based Lending Rates (MCLRI and External Benchmark Rate - Repo linked (EBR-R). The new rates have come into effect from August 07, 2021.
- The bank has trimmed its MCLR by 50 basis points across tenors, while the repo rate linked benchmark was reduced by 30 basis points.
- The bank's 1-year MCLR is now at 8.25% compared to the previous 8.75%. For six-months and three-month tenor, MCLR is now at 8.15% and 7.80% against the previous 8.65% and 8.30% respectively. Read more
Published on: 4:57 pm
Key Financial Highlights – Q1 FY22
- Revenue of Rs. 5,007 million with 226% yoy growth; 19.9% revenue share from BEV
- EBITDA of Rs. 1,387 million with 375% YoY growth; EBITDA margin of 27.7% vs. 19.0% in Q1 FY21 Read more
Published on: 4:51 pm
- Equitas Small Finance Bank has announced that it is set to launch ‘Equitech’ – a Fintech Accelerator aimed at the start-up ecosystem. It is a unique program designed to scale -up and help Fintechs curate their products and define a go-to-market strategy.
- This will help the Fintechs to reach the next level and take its product to the market in a more targeted manner. The program has been launched on August 07 and the application process for the enrolment has commenced.
- The program aims to augment the fintech ideas into outcome-driven partnerships with key focus on product and customer acquisition Read more
Published on: 4:50 pm
- Indigo Paints Limited net revenue from operations for the quarter ended June 30, 2021, was Rs156.02cr as against Rs104.58cr in the corresponding quarter of the last year representing an increase of 49.19% over the corresponding period of the preceding year (Q1FY21) and 8.40% over QI FY20.
- EBIDTA (excluding other income) for the quarter ended June 30, 2021, was Rs20.16cr as against Rs19cr in the corresponding quarter of the last year representing an increase of 6.10% over the corresponding period of last year.
- Net profit for the quarter ended June 30, 2021 was Rs11.61cr as against Rs8.40cr in the corresponding quarter of last year representing an increase of 38.20 % over the corresponding period of last year. Read more
Published on: 4:50 pm
- Voltas reported a net profit for the Jun-21 quarter was up 50.1% at Rs121.8cr. The spike in profits was led by the turnaround in EBIT in the electromechanical projects vertical while the EBIT of the engineering products and services segment also doubled at Rs38cr.
- The company reported 37.65% growth in total sales revenues yoy for the Jun-21 quarter on consolidated basis at Rs1,785cr. On a sequential basis, revenues were down 32.68% compared to Rs2,652cr revenues in Mar-21 quarter on COVID 2.0 imprint on industrial clients. Read more
Published on: 4:38 pm
- RITES led consortium has secured a project for consultancy services from Bangladesh Railways for Construction of Dual Guage Railway Line from Bogura to Shahid M. Mansur Ali station, Sirajganj of Bangladesh Railway.
- According to the filing, the company said that it has an 80 KM long greenfield project with two phases.
- The first phase is for updating feasibility and DPR and the second was the construction supervision. Duration is 13 months for Phase — 1 and 30 months for Phase -2. Read more
Published on: 4:37 pm
- Adani Enterprises Limited has incorporated a wholly-owned subsidiary namely, Noida Data Center Limited (NDCL) on August 5, 2021. The company purchased 10,000 equity shares of Rs10/- each aggregating to Rs1 lakh.
- “NDCL is incorporated with the object to develop, operate, maintain, deal with the business of Data Center(s)/ IT/ITeS/ Cloud, providing services related thereto and to undertake activities associated with its infrastructure development including land acquisition 8-development for the said purpose,” company said in a filing on Friday. Read more
Published on: 4:35 pm
- Indiabulls Housing Finance recorded a net profit for the Jun-21 quarter were up 3.24% yoy at Rs282cr. The main driver that the interest costs had also come down in tandem with the falling loan yields and that helped the company maintain net spreads despite concerns over falling yields.
- However, the company reported a 9.86% fall in total revenues for the Jun-21 quarter on a consolidated basis at Rs2,321cr. On a sequential basis, revenues were down -2.15% compared to Rs2,372cr revenues in the Mar-21 quarter.
- The stock ended at Rs267.35 down by Rs3.7 or 1.37% from its previous closing of Rs271.05 on the BSE. Read more
Published on: 4:30 pm
- India Ratings has affirmed IDFC First Bank Limited’s (IDFCFB) debt instruments’ ratings at ‘IND AA+’ with a Negative Outlook.
- In its rating rationale, Ind-Ra said that it " has maintained a Negative Outlook to reflect the asset quality challenges that could persist on account of COVID-19 especially in IDFCFB’s retail segment and also the ongoing uncertainty regarding its one large telecom exposure, resulting in higher provision and credit cost. This could lead to a moderation in the operating performance and dilute capital buffers."
- However, Ind-Ra added, " the bank has raised capital to the tune of INR50 billion, built-up adequate capital buffers for incremental provision requirements, strengthened liability franchise and improved funding profile both by reduction in cost and reduced concentration and increased granularity of asset profile." Read more
Published on: 4:24 pm
- Tata Motors has delivered 35 state-of-the-art Starbus electric buses, as a part of the larger order of 340 electric buses to Brihanmumbai Electric Supply and Transport (BEST).
- The 35-seater Tata Starbus electric AC buses were flagged off by the Hon’ble Chief Minister of Maharashtra, Uddhav Thackeray in the presence of dignitaries from the Maharashtra state government, BEST and Tata Motors, at an event at Mahim, Mumbai.
- The buses are procured by BEST under the government of India’s FAME II initiative, and the delivery is a part of the first ever Gross Cost Contract (GCC) by BEST. Read more
Published on: 4:20 pm
- The definitive agreement has been executed amongst Gayatri Projects Limited, its promoters, and Interups Inc. USA (proposed Investor) to subscribe to the securities of the company, the company said in a filing on Friday.
- In terms of the said agreement, the proposed Investor, through its subsidiaries, affìliates/ or any specific purpose entities or fund vehicles floated for the specific purpose, has proposed to subscribe to the securities of the Company in several tranches wherein they have agreed to subscribe to 7.5cr Equity Shares of the Company in First phase subject to the approval of shareholders and other approvals as may be necessary. Read more
Published on: 4:18 pm
- Equity Mutual Funds made a net inflow of Rs22,583cr in July 2021 as compared to Rs5,988.17cr inflows in June. The net inflow was up for the fifth consecutive session with flexi-cap category accounting for most of the inflow. Equity and debt mutual funds saw a huge improve in inflows for the month of July.
- Among the equity space, ELSS and value funds continued to see outflows in the month of July as well. Multi cap fund inflows have also gone down from Rs209cr in June to Rs164cr in July, as per AMFI data. Read more
Published on: 4:17 pm
- Karnataka Bank is empanelled by the Reserve Bank of India to act as an "Agency Bank" to facilitate transactions related to Government businesses. As an empanelled "Agency Bank", Karnataka Bank is now authorised to undertake the Government businesses such as Revenue receipts and payments on behalf of the Central/State Governments, Pension payments in respect of Central / State Governments, Collection of stamp duty charges and also any other item of work specifically advised by the Reserve Bank of India.
- Mahabaleshwara M S, MD & CEO of Karnataka Bank said, "we are privileged to be appointed by the regulator to facilitate transactions pertaining to all kinds of Government led businesses." Read more
Published on: 4:14 pm
- Vedavaag Systems Limited has informed that it is entering into new age technologies in AI and ML segment by introducing cloud-based product- Driver Alert Management System known as V-DAMS.
- According to the company, annually abount 1-5 lakh people are being killed and 3.5 lakh are crippled in road accidents. It is stated that about 40% of the road accidents are attributable to driver dozing off.
- The Company is keen to render the product and services that can enhance safety and security of people and fleet in transport sector. Read more
Published on: 4:02 pm
- HEG Limited has received approval both from the National Stock Exchange of India Limited and BSE Limited on August 6, 2021, for reclassification of Mekima Corporation, member of Promoter Group from ‘Promoter and Promoter Group’ category to ‘Public category.
- “Consequent to the above said approval for reclassification, Mekima Corporation will not be part of Promoter Group of the Company,” it said in a filing on Friday. Read more
Published on: 4:01 pm
- Central Bank of India has entered into a strategic Co-lending Partnership with Dhanvarsha Finvest to offer loans against gold ornaments under priority sector to MSME borrowers at competitive rates, subject to the compliance with the applicable law(s) including the applicable guidelines issued by the Reserve Bank of India (RBI).
- The participation by both entities in this co-lending arrangement will result in greater expansion of the portfolio by the Central Bank of India & Dhanvarsha Finvest.
- As per the agreement, Dhanvarsha Finvest will originate and process loans against gold ornaments as per jointly formulated credit parameters & eligibility criteria and the Central Bank of India will take into its book 80% of the Gold Loans under mutually agreed terms. Read more
Published on: 3:53 pm
- Welspun Corp has appointed Rahul Yenurkar as Chief Operating Officer of the Steel vertical of the company. The company had earlier decided to create two separate vertical viz. steel and pipes.
- Yenurkar has joined the new post effective from August 04, 2021.
- Yenurkar will be based out of Anjar facilities of the Company and will lead the setting-up of our Greenfield Steel and DI Pipe Plant. He will report to the Managing Director & CEO of the Company. Read more
Published on: 3:48 pm
- The Federation of Automobile Dealers Associations (FADA) on Monday has said that total vehicle retail sales were by up by 34.12% on yoy basis as compared to July 2020. When we compared to July’19 (a regular pre-covid month), recovery is visible as the deficit reduces to low double digits of -13.22%.
- On yoy basis, all categories were in green with 2W up by 28%, 3W up by 83%, PV up by 63%, Tractor up by 7% and CV up by 166%. After Tractors, PV for the first time shows strong numbers by clocking 24% growth when compared to pre-covid month of July’19, as per FADA data.
- FADA has been raising red flag about semi-conductor shortage since quite some time. The situation is now becoming grave with ever-increasing supply-side constraints. Read more
Published on: 3:45 pm
- OnMobile Global Limited on Friday announced the financial results for the first quarter of FY22 ended June 30, 2021. The company’s PAT reflected a growth of 9.8% qoq & 35.8% yoy with a 12.7% margin and our continuing efforts on cost rationalization efforts also helped in retaining double-digit EBITDA at Rs14.5cr, a Margin of 11.3%.
- Revenue remains stable qoq at Rs128.77cr from Rs130.70cr in Q4FY21. But it declined substantially compared to Rs140.84cr in Q1FY21.
- “Our cost rationalization efforts are continuing and have yielded savings with a reduction of 11.8% qoq and 11.6% yoy in manpower costs. Other Opex cost declined by 22.3% yoy; however the last quarter numbers were lower due to one time reversal of accumulated lease rentals on account of giving up of rented space,” company said in a filing on Friday. Read more
Published on: 3:43 pm
- Jindal Steel & Power Limited (JSPL) said that the Board has accepted the Revised binding offer from Worldone Private Limited ("Acquirer"), to divest its 96.42% stake in Jindal Power Limited ("JPL"), a material subsidiary.
- In a regulatory filing on Saturday, JSPL said that as highlighted in our notice dated 24 July 2021, key features of the Revised Offer are that Worldone will buy out all the Equity Shares and Redeemable Preference Shares of JPL held by JSPL for a total consideration of approximately Rs7,40cr of which (i) Rs3,015cr will pay by cash, and (ii) the balance Rs4,386cr (approximately) will be by way of assumption and takeover of liabilities and obligations of JSPL concerning inter-corporate deposits and the capital advances paid by JPL to JSPL. The deal will also entail debt associated with JPL (of Rs6,566cr approx. as of December 31, 2020) moving out of JSPL’s consolidated books, thereby, strengthening JSPL’s balance sheet. Read more
Published on: 3:35 pm
- Markets witnessed a lacklustre day of trade, with the benchmark index closing marginally higher, led by a closing hour short covering rally.
- Bank Nifty outperformed the Nifty index by ~0.5% with both the indices closing in the green.
- Stocks like HDFC Bank & ICICI Bank led to the outperformance of the the Banking index, as the stocks closed ~0.75% higher along with an addition of fresh long positions. Read more
Published on: 3:32 pm
- MBL Infrastructures shareholders have approved raising of funds up to Rs 300cr.The approval was given at the 26th annual general meeting.
- Surender Aggarwal, Executive Director, DS Negi, CFO and Anubhav Maheshwari, Company Secretary while addressing the company officials on the outcome of the AGM said, "With the completion of several public interest projects post-approval of Resolution Plan under IBC, 2016, with enhanced bid capacity, the Company shall endeavour to win 4-5 large ticket size projects."
- The trio added, "With the support of all the stakeholders, the approval of fundraising up to Rs 300 crores, with impetus of the Government on the infrastructure sector, the Company is now poised to be in the growth trajectory." Read more
Published on: 3:25 pm
- Log 9 Materials, a Bengaluru-headquartered advanced battery-tech and deep-tech start-up, has announced an equity partnership and collaboration with Amara Raja Batteries (ARBL), a battery technology leader and one of India’s largest manufacturers of industrial and automotive batteries. Notably, Log 9 has raised an investment of $5 Million from Amara Raja Batteries during its ongoing Series A+ funding round.
- ARBL's investment in Log 9 Materials is a part of the bold ‘Energy & Mobility’ strategy announced by the Company in June this year, which focuses on entering into new green technologies and solutions. These initiatives will include expansion and investments that will help the Company maintain technological and business leadership in the 'Energy & Mobility’ space, apart from creating new growth avenues. Read more
Published on: 3:15 pm
- Gretex Corporate Services Limited became the 343rd company to get listed on the BSE SME Platform on August 9, 2021. Gretex Corporate Services Limited came out with an initial public offering of 3.01 lakh Equity Shares of Rs10 each (“Equity Shares”) for cash at a price of Rs170 Per Equity Share (The “Offer Price”), Aggregating to Rs5.13cr.
- The company has successfully completed its public issue on July 30, 2021.
- SEBI came out with detailed guidelines on 18th May, 2010 for launching of SME Exchange/Platform. BSE became the first stock exchange to get approval from SEBI and launch its SME platform on 13th March, 2012. Read more
Published on: 3:06 pm
- Mahindra & Mahindra Ltd. today unveiled its new visual identity including a brand-new logo that will differentiate its SUV portfolio. The all-new visual identity is in tune with the company’s focus to be makers of sophisticated and authentic SUVs.
- The new visual identity heralds the strategic shift across Mahindra’s SUV portfolio, where we are putting the building blocks in place for a new world with a range of authentic SUVs.
- With this transition, the passenger vehicle Mahindra Automotive dealerships will move to a completely new design and color palette dominated by colors that exude boldness, agility, and collaboration. Charcoal as the primary colour with grey and red to be used as accents. Read more
Published on: 2:51 pm
- The BSE Midcap index is trading under a bearish note in the afternoon session as heavy selling was seen in Future Retail, NALCO, Torrent Power, Edelweiss and Balkrishna Industries.
- BSE Midcap index was trading at 22,961.65 down 243 points or 1.05%, touching a high of 23,253.48 and a low of 22,876.46 during the intraday trade on Monday.
- NALCO was among the top bear nosediving by 10.5% after Q1 earnings. The stock performance comes despite the records multi-fold rise in net profit to Rs347.73cr in Q1FY22 against Rs16.63cr a year ago same period. The company's earnings have surpassed markets expectations despite a challenging business environment due to the Covid-19 pandemic. Read more
Published on: 2:45 pm
- Nifty FMCG index has erased its early gains and was trading slightly lower in the second half of Monday's session. The index had advanced by nearly 1% in the early trade, however, a broad-based selloff across stocks took a downward turn.
- The index will be in focus ahead of the country's consumer price index (CPI) inflation that is scheduled for later in the week.
- At around 2.42 pm, Nifty FMCG index was trading at Rs36,621.55 per piece down by 48.25 points or 0.13%. The index has touched an intraday high and low of 37,016.95 and 36,521.30 respectively. Read more
Published on: 2:41 pm
- Hindustan Copper stock was under pressure on Monday tracking broader sectoral indices on benchmarks Sensex and Nifty 50. Investors carried massive profit booking after the company announced its financial performance for the quarter ending June 2021 (Q1FY22).
- The company reported a consolidated net profit of Rs45.63cr in Q1FY22 rising by a whopping 53.6% yoy. Hindustan Copper had a net profit of Rs29.69cr in June 2020 quarter after-tax and share of profit of JV/Associates.
- On the top-line front, the company's consolidated income, however, declined to Rs278.73cr in Q1FY22 against Rs441.38cr a year ago same period. Read more
Published on: 2:35 pm
- Transformers and Rectifiers (India) Limited has informed that the Managing Director Satyen Mamtora has been elected at National Executive Council of Indian Electrical and Electronics Manufacturers (IEEMA) for the year 2021-22.
- "His vision of POWER OF WE will surely reflect by working for Nation Building at IEEMA", said company.
- Indian Electrical and Electronics Manufacturers' Association (IEEMA) is an Indian non-governmental trade association and advocacy group focused on manufacturing of electrical, electronics and allied equipment. Read more
Published on: 2:30 pm
- Benchmark market indices are flat in the afternoon trade. Metal, Oil & Gas stocks, and PSU Bank stocks sink further.
- BSE Sensex is currently 54,294.41 up 16.69 points or 0.03%.
- Nifty50 is currently 16,238.25 up 0.05 points. Nifty Bank is 36,000.55, up 0.53 points. Mid-cap Index is down by 1.07%. Read more
Published on: 2:23 pm
- State-run, Steel Authority of India Ltd (SAIL) registered a consolidated net profit of Rs3,897cr for the quarter ending June 2021 (Q1FY22), compared to a loss of Rs1,226cr in the corresponding period of the previous year.
- SAIL posted revenue from operations of Rs20,642cr in the quarter under review, more than doubling from Rs9,067cr a year ago same period.
- The company has reduced its gross debt by Rs5,063cr in the quarter. Read more
Published on: 2:11 pm
- State-owned National Aluminium Company Limited (NALCO) kick-started the financial year 2021-22 with robust financial and physical performances. The leading producer and exporter of alumina and aluminium, garnered a net profit of Rs347.73cr for June 2021 (Q1FY22) quarter compared to a profit of Rs16.63cr in the corresponding period of the previous year.
- In its audit report, NALCO said that beating market expectations, amidst a challenging business environment, the company has demonstrated robust performance across all its business segments.
- Further, NALCO reported revenue from operations of Rs2474.55cr an increase of 79.2% compared to Rs1380.63cr achieved in the corresponding quarter of the previous year. This is mainly propelled by strong demand, higher volumes, better realization and effective capacity utilization of its operational units. Read more
Published on: 2:01 pm
- The Sovereign Gold Bond Scheme Series V or the fifth tranche opens for subscription from today on Monday, August 9, 2021. The scheme will remain open till August 13 to give a chance to people to buy gold at a lower price.
- The nominal value of the bond based on the simple average closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the last three business days of the week preceding the subscription period, i.e. August 04, August 05 and August 06, 2021, works out to Rs4,790 per gram of gold, according to the RBI statement.
- The Government of India, in consultation with the Reserve Bank of India (RBI), has decided to offer a discount of Rs50 per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode. Read more
Published on: 2:00 pm
- RBL Bank, has chosen Amazon Web Services (AWS), an Amazon.com company, as its preferred cloud provider to strengthen its AI‐powered banking solutions and drive digital transformation at the Bank, adding significant value to the Bank’s innovative offerings, saving costs, and tightening risk controls.
- The Bank is building on its analytics practice and investing in AI capabilitiesto implement various use cases across multiple segments, including Risk, Customer Service, Human Resources, and Operations.
- The Bank’s AI Center of Excellence worked with AWS to create a templatized framework to roll out use cases using Amazon SageMaker to quickly and easily build, train, and deploy machine learning (ML) models as part of the Bank’s larger AI roadmap. Read more
Published on: 1:50 pm
- The Nifty Oil & Gas stocks shed 1.3% amid volatile trade on Monday. The Index felt pressure from the start as Oil prices dropped 2% on Monday, extending last week's steep losses on the back of a rising U.S. dollar and concerns that new pandemic curbs in Asia, especially China, may set back the global recovery in fuel demand.
- Gulf Oil Lubricants was the only stock trading higher while Gujarat State Petronet shed 3.5% to lead the Index losses with Gujarat Gas down 3% and Mahanagar Gas down 2.5% also under selling pressure.
- At around 1.50 PM, Nifty Oil & Gas was trading at 6,554.90 down 100.60 points or 1.51%, touching a high of 6,664.10 and low of 6,554.25 during intraday trade on Monday. Read more
Published on: 1:43 pm
- European markets start the week on a mixed note with U.K. shares pulled back slightly on Monday’s trade. There are no major earnings releases on Monday.
- Germany and France's shares are slightly higher in today’s trade ahead of U.S. inflation data scheduled for release this week.
- On the economy front, European data to releases German export and import data for June and Greece’s industrial output for June. Read more
Published on: 1:34 pm
- Tantia Constructions Ltd has informed the exchange regarding work order secured by the company.
- The Company has received an order amounting to Rs43,07,95,440/- (Rupees Forty Three Crore Seven Lakhs Ninety Five Thousand Four Hundred Forty only) from Government of Mizoram against a contract work for “Up-gradation of Saiha-Lungbun-Tluangram-Haka Road in the State of Mizoram under North East Road Sector Development Scheme (NERSDS) on EPC mode”.
- At around 1:35 PM, Tantia Constructions was trading at Rs7.90 per piece up by Rs0.02 or 0.25%. Read more
Published on: 1:30 pm
- BSE Sensex is currently 54,233.99 down 43.73 points or 0.08%.
- Nifty50 is currently 16,225.55 down 12.65 points or 0.08%.
- Nifty Bank is 35.923.85, up 32 points. Mid-cap Index is down by 1.24%. Read more
Published on: 1:26 pm
- Private lender, Yes Bank has updated about its stake acquisition in DishTV India via invocation of pledged shares.
- On May 29, last year, Catalyst Trusteeship for the benefit of Yes Bank acquired 44,53,48,990 equity shares (representing 24.19% of the total share capital) of Dish TV on invocation of share pledge subsequent to default/breach of terms of credit facilities sanctioned by Yes Bank to Essel group companies.
- Yes Bank stated that these shares were lying in the DP a/c of Catalyst Trusteeship and have been transferred to the DP a/c of YBL on August 7, 2021. The Bank added, "the said shares continue to form part of the security package for such credit facilities pursuant to invocation of the share pledge." Read more
Published on: 1:22 pm
- Flipkart, India’s homegrown e-commerce marketplace, has signed a Memorandum of Understanding with Himachal Pradesh State Handicrafts & Handloom Corporation Limited (HPSHHCL), to bring the State’s local artisans, weavers, handicraft, and handloom makers into the e-commerce fold.
- The partnership comes on the eve of National Handloom’s Day observed on August 7, to celebrate and honor India’s rich community of handloom weavers.
- The MoU between both parties was signed through a ceremony in the presence of Hon’ble Chief Minister, Jai Ram Thakur and Bikram Thakur, Minister of Industries, Transport, Labor and Employment, Himachal Pradesh. Read more
Published on: 1:11 pm
- The Indian rupee slipped against the US dollar tracking the firm American currency. Currently, the currency is trading lower by 8 paise at 74.24 against US Dollar.
- At the interbank foreign exchange, the local unit opened on a weak note at 74.21 against the dollar, then fell further to 74.25, registering a fall of 10 paise over its previous close.
- The dollar climbed against major peers in early trades on Monday and strengthened as far as $1.1742 to the single currency, on the back of a strong U.S. jobs report. Read more
Published on: 1:01 pm
- Muthoot Finance Ltd has informed that the Board of Directors on August 06, 2021 has approved the appointment of Hariharan K as the CRO of the Company w.e.f August 06, 2021 in place of Nazar K A who has demitted the office of CRO on August 06, 2021.
- Hariharan K is a seasoned banking executive with over 35 years’ experience in Canara Bank. He has developed expertise in banking which includes Business Development, Credit Assessment, Risk Management, Compliance, Controls & governance, Leading Teams achieving excellent results under Business, Productivity, Financial and Compliance objectives over his 35+ years banking career with Canara Bank. Read more
Published on: 12:55 pm
- HCL Infosystems Limited on Friday announced its financial results for the quarter ended June 30, 2021. The company’s revenue in Q1FY22 revenue was Rs27.61cr. Systems Integration and Solutions business reported revenue of Rs24.61cr. Loss Before Tax and exceptional items was Rs21.45cr.
- The company said exceptional non-recurring gain during this quarter on account of Profit on sale of properties was Rs62.03cr. Profit Before Tax after considering exceptional items Rs40.58cr.
- At around 12.58 PM, HCL Infosystems Ltd was trading at Rs14.85 per piece up by Rs0.7 or 4.95% from its previous closing of Rs14.15 per piece on the BSE. Read more
Published on: 12:51 pm
- Libas Consumer Products Limited has informed that the company has entered into a contract with Sambhar Salts Limited to purchase 50,000 mt common slat from various stores of Sambhar Salts.
- The details are as follows:
- Sambhar Kyar -10,000 MT
- Pan Salt Sambhar -30,000 MT
- Nawa Kyar -10,000 MT
- Sambhar Salts Limited is Government of India undertaking and subsidiary of Hindustan Salts Limited, incorporated in the year 1964 and located in Jaipur. Read More
Published on: 12:45 pm
- Nifty Metal index has a bearish start this week amid major June 2021 quarterly earnings. A broad-based sell-off was witnessed in the index on Monday with companies like SAIL, NALCO and Hindalco taking a massive toll. Globally, base metal prices are in focus.
- At around 12.30 pm, Nifty Metal was trading at 5,769.85 lower by 71.50 points or 1.22%. The index has touched an intraday high and low of 5,861.55 and 5,760.05 respectively.
- Welspun Corp was the only gainer on the index surging more than 1%. Read More
Published on: 12:33 pm
- Shares of Rolex Rings made their stock market debut on Monday as the shares listed at Rs1,250 per share on the NSE. On the NSE the stock has surged 39% premium over its issue price of Rs900 per share.
- While on BSE, the stock was listed at Rs1,249 per share, up 39%.
- Rolex Rings Ltd is currently trading at Rs1,185.20, up by Rs285.2 or 31.69% from its previous closing of Rs900 on the BSE. The scrip opened at Rs1,249 and has touched a high and low of Rs1,264.95 and Rs1,105 respectively.
- Rolex Rings IPO becomes a blockbuster public offering with demands coming heavily from across investors categories. HNIs were the most to subscribe to this IPO, while institutional buyers also had a strong appetite on the final day. Read more