Live market updates

10th Aug, 2021

Petrol, diesel prices remain unchanged today

Published on: 5:29 pm

  • For the 24th consecutive day, the prices of petrol and diesel remain unchanged across the four metro cities.
  • In Delhi, petrol prices at Rs101.84 per litre and diesel rates were unchanged at Rs89.87 per litre. In Mumbai, petrol prices stood at Rs107.83 per litre and diesel is retailed at Rs97.45 per litre, according to the Indian Oil Corporation.
  • In Kolkata, the price of petrol and diesel were Rs102.08 and Rs93.02, respectively. The petrol price in Chennai at Rs102.49, while diesel also remained unchanged at Rs94.39 per litre. Read more

Balrampur Chini Mills Q1 net profit lower at Rs76.93cr; stock ends 3% lower

Published on: 5:13 pm

  • Balrampur Chini Mills Ltd reported a net profit for the Jun-21 quarter was down 44.69% at Rs76.93cr. The fall in net profits was largely driven by lower realizations on sugar due to cyclical factors and negative EBIT on co-generation in the latest quarter.
  • Also a dip in total sales revenues by 20.27% fall for the Jun-21 quarter on consolidated basis at Rs1,140.44cr. On a sequential basis, revenues were up 11.88% compared to Rs1,019.36cr revenues in the Mar-21 quarter, with a limited impact of COVID 2.0. Read more

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Coal India Q1 PAT rises 53% yoy to Rs3,174.14cr

Published on: 5:09 pm

  • Coal India Limited on Tuesday reported a 53% yoy rise in consolidated net profit to Rs3,174.14cr for the quarter ended June 30, 2021, compared to Rs2,077.51cr in the same quarter last fiscal.
  • The company reported a 37% rise in consolidated revenue from operations to Rs25,282.15cr in Q1FY22, compared to Rs18,486.77cr in Q1FY21.
  • The company also saw a sharp rise in expenses during the quarter to 21,626.48cr from 16,470.64cr in Q1FY21, led by raw material cost. Earnings per share were at Rs5.14 in Q1FY22 compared to Rs3.77 in Q1FY21. Read more

Infosys wins two awards at Blue Prism World 2021 for delivering Intelligent Automation-based Solutio

Published on: 5:05 pm

  • Infosys has announced that it has won two “Partner Excellence Awards for Client Business Impact: Telecommunications” – a regional and a global recognition, from its strategic partner Blue Prism, a leading intelligent automation provider to enterprises.
  • Infosys was awarded for delivering intelligent automation-based solutions and driving high business impact for Telstra, Australia’s leading telecommunications and technology company, offering a full range of communications services and competing in all telecommunications markets.
  • As part of its T22 strategy, Telstra was looking to use automation to bring together a number of legacy systems and align processes to improve and digitise the customer experience. Read more

TamilNadu Petro Products consolidated net profit rises 313.20% in Q1

Published on: 5:03 pm

  • Tamilnadu Petroproducts Limited (TPL), Chennai based Petrochemical manufacturing company and part of AM International - Singapore, announced its first-quarter results for FY2022.
  • The net profit of the company rose 313.20% to Rs55.70cr in the quarter ended June 2021 as against Rs13.48cr during the previous quarter ended June 2020.
  • The sales also rose 109.64% to Rs461.16cr in the quarter ended June 2021 as against Rs219.98cr during the previous quarter ended June 2020. Read more

Quick Heal reports profit of Rs6.2cr Q1FY22, enterprises segment shows robust growth of 39%

Published on: 4:53 pm

  • Quick Heal Technologies Limited (Quick Heal), one of the leading providers of cybersecurity and data protection solutions to consumers, businesses and Government, reported its unaudited results for the quarter ended 30th June 2021.
  • The company reported a consolidated net profit at Rs6.2cr for the June 2021 quarter against Rs25cr in the year-ago period.
  • The company's revenue was at Rs54.8cr in the first quarter of FY22, while the same was at Rs73.5cr in the April-June 2020 period. Read more

SMS Pharma Q1 PAT jumps 153% yoy to Rs23.6cr

Published on: 4:49 pm

  • SMS Pharmaceuticals Limited, a Hyderabad based diversified and fully integrated pharmaceutical company, with interests in Active Pharmaceutical Ingredients (API) and Intermediates announced its financial results for the quarter ended June 30, 2020.
  • The company’s revenue from operations stood at Rs163cr as against Rs112.9cr, up 44.4% yoy. EBITDA stood at Rs44.4cr as against Rs21.4cr yoy. EBITDA margin (%) came in at 27.3%. Profit After Tax (PAT) stood at Rs23.6cr as against Rs9.2cr yoy. PAT Margin (%) came in at 14.2%.
  • SMS Pharmaceuticals Ltd ended at Rs179.95 down per piece by Rs6.45 or 3.46% from its previous closing of Rs186.40 per piece on the BSE. Read more

Sundaram Finance Q1FY22 net profit up by 16% at Rs192cr

Published on: 4:42 pm

  • The Board of Directors of Sundaram Finance Ltd. (SFL) approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2021, at its meeting held on August 9, 2021, in Chennai.
  • Profit after tax registered a 16% rise in Q1 FY22, with net profit at Rs192cr as against Rs166cr in Q1FY21.
  • Disbursements for Q1 FY22 recorded a growth of 122% to Rs. 2,060 crores as compared to Rs. 929 crores registered in the corresponding quarter of the previous year. Gross stage III assets as on June 30, 2021, stood at 4.25% as against 2.44% as on June 30, 2020, primarily due to the Wave 2-related lockdowns impacting economic activity, increased financial burden faced by customers due to Covid-driven healthcare expenditures and the restrictions placed by the company on staff to work from home through much of the quarter. Read more

BLS International partners with UTI Infrastructure for PM-JAY Scheme

Published on: 4:37 pm

  • BLS International, a trusted global tech-enabled services partner for governments and citizens, has partnered with UTIITSL (UTI Infrastructure Technology and Services Limited) to support e-Card printing services under Ayushman Bharat by National Health Authority, Ministry of Health and Family Welfare, Government of India.
  • With this partnership, the company is now the official PMJAY Service Agent.
  • Effective immediately, BLS International will start online verification, registration and validation process for beneficiary and e-card printing services across India to avail healthcare services at any of the empanelled hospitals in their respective regions. Read more

Govt. taking various measures to promote use and distributorship of LNG

Published on: 4:29 pm

  • The Minister of State for Petroleum and Natural Gas, Rameswar Teli in a written reply to a question in the Lok Sabha informed that the Government is taking various measures to promote use and distributorship of LNG in the country.
  • It includes: (i)  Promotion of CGD network for enhanced supply of natural gas including LNG to industrial and commercial customers. Read more

Man Industries delivers steady Q1 performance despite the impact of Covid-19 second wave

Published on: 4:28 pm

  • MAN Industries (India) Limited, one of the leading Large Diameter Pipe manufacturing company reported a total income of Rs410.3cr in Q1FY22 as compared to Rs410.1cr in Q1FY21. EBITDA (including other income) stood at Rs45cr, 18.5% lower than Rs552cr in Q1FY21.
  • EBITDA Margin stood at 11.0%. PAT for the quarter stood at Rs19.3cr, a growth of 12.7% yoy compared to Rs17.1cr in Q1FY21, with a PAT Margin of 4.7%.
  • Man Industries (India) Ltd ended at Rs121.10 per piece down by Rs6 or 4.72% from its previous closing of Rs127.10 per piece on the BSE. Read more

Ethanol suppliers contracted to supply 343.16 crore litres of ethanol to Public Sector OMCs during 2

Published on: 4:27 pm

  • The Minister of State for Petroleum and Natural Gas, Rameswar Teli in a written reply to a question in the Lok Sabha informed that currently, Public Sector Oil Marketing Companies (OMCs) are selling 10% ethanol blended petrol which contains 90% petrol and 10% ethanol from their retail outlets.
  • Under this Ethanol Blended Petrol (EBP) Programme, ethanol suppliers have contracted to supply 343.16 crore litres of ethanol to Public Sector OMCs for the ongoing Ethanol Supply Year (ESY) 2020-21, against which 209.67 crore litres has been received as of 02.08.2021. Read more

1,590 EVs in over 160 Central and State Government dept. in 49 cities deployed till date

Published on: 4:24 pm

  • The Minister of State for Heavy Industries Krishan Pal Gurjar in Rajya Sabha has announced that to date, Energy Efficiency Services Limited (EESL) have deployed/under deployment 1,590 EVs in more than 160 Central and state government departments in 49 cities.
  • These e-cars are being given on a lease/outright purchase basis to replace the existing petrol and diesel vehicles taken on lease earlier, the minister explained.
  • EESL s also developing Electric Vehicle Charging Infrastructure and has signed MoUs with multiple stakeholders across municipalities, DISCOMs for location assessment study and setting up of charging infrastructures in their jurisdiction location.  As of date, EESL has installed 301 nos. of EV chargers across India. Read more

Revenue deficit grant of Rs9,871cr released to 17 States: Centre

Published on: 4:21 pm

  • The Department of Expenditure, Ministry of Finance has released the 5th  monthly instalment of Post Devolution Revenue Deficit (PDRD) Grant of Rs. 9,871 crore to the States on 9th August 2021.  With the release of this instalment, a total amount of Rs. 49,355 crore has been released to eligible States as Post Devolution Revenue Deficit Grant (PDRD) in the current financial year.
  • State-wise details of the grant released this month and the total amount of PDRD Grant released to the States in 2021-22 is annexed.
  • The Post Devolution Revenue Deficit Grant is provided to the States under Article 275 of the Constitution. The grants are released as per the recommendations of the Fifteenth Finance Commission in monthly installments to meet the gap in Revenue Accounts of the States post devolution.  The Commission has recommended PDRD grants to 17 States during 2021-22. Read more

Centre continues to modulate the effective price to consumers for Subsidized Domestic LPG

Published on: 4:17 pm

  • In a written reply to a question in Lok Sabha, the Minister of State for Petroleum and Natural Gas, Rameswar Teli said that government continues to modulate the effective price to consumers for Subsidized Domestic LPG.
  • The minister highlighted that the total amount of fuel subsidy paid by the Government since F.Y. 2011-12 is Rs. 7,03,525 cores. The Budget Estimates for F.Y. 2021-22 for LPG & Natural Gas (NG) subsidy is Rs. 12,995 crores.
  • He said that "The prices of petroleum products in the country are linked to the price of respective products in the international market. The Government continues to modulate the effective price to consumer for Subsidized Domestic LPG." Read more

Shashijit Infraprojects receives construction order of Rs7-9cr

Published on: 4:13 pm

  • Shashijit Infraprojects Limited has informed that the Company has been awarded LOI (“Letter of Intent”) for construction of Extension of Main Building and ETP Plant from Pramukh Paper Products Private Limited.
  • The contract is received from one of their existing client and well established paper industry at their Sarigam unit, Gujarat.
  • The approx. value of the project is 700-900 lakhs. Read more

RBI announces enhancement of collateral free loans to Self Help Groups under DAY-NRLM from Rs10-20 l

Published on: 4:12 pm

  • The Reserve Bank of India (RBI) has announced the enhancement of collateral free loans to Self Help Groups (SHGs) under DAY-NRLM from Rs10 lakh to Rs20 Lakh.
  • As per RBI, for loans to SHGs up to Rs10.00 lakh, no collateral and no margin will be charged. No lien should be marked against savings bank account of SHGs and no deposits should be insisted upon while sanctioning loans.
  • Further, for loans to SHGs above Rs10 lakh and up to Rs20 lakh, no collateral should be charged and no lien should be marked against the savings bank account of SHGs. However, the entire loan (irrespective of the loan outstanding, even if it subsequently goes below Rs10 lakh) would be eligible for coverage under Credit Guarantee Fund for Micro Units (CGFMU). Read more

Kamdhenu ends ~5% lower post Q1 earnings

Published on: 4:01 pm

  • Kamdhenu Limited, India’s largest manufacturer and seller of branded TMT Bars, in the retail segment, on Monday, declared its financial results for the quarter ended June 30, 2021. Overall Revenues stood at Rs145.9cr, EBITDA stood at Rs11.6cr and PAT stood at Rs5.6cr.
  • Paint Business revenue stood at Rs33.1cr, contributing 23% of Revenues in Q1FY22. Volumes stood at 5,092 KL. Steel Business turnover stood at Rs3,485cr, contributing 77% of revenues in Q1FY22. Royalty Income at Rs21.5cr. Franchisee Sales Volumes at 5.63 lakh MT.
  • Kamdhenu Ltd stock trade ended at Rs167.65 per piece down by Rs8.65 or 4.91% from its previous closing of Rs176.30 per piece on the BSE. Read more

M&M to replace faulty fluid pipe of 29,878 pickup vehicles; Stock jumps 1.5%

Published on: 3:57 pm

  • Mahindra & Mahindra (M&M) on Tuesday announced proactive inspection and replacement of a fluid pipe in some of the Pickup vehicles manufactured between January 2020 and February 2021 for suspicion of improper assembly.
  • In its regulatory filing, M&M said that this is limited to a batch of 29878 vehicles and is keeping in line with the company’s customer-centric approach.
  • Further, M&M stated that the inspection and subsequent rectification will be carried out free of cost for all customers, who will be individually contacted by the company. In an endeavour to ensure a hassle-free experience for its customers, the company is proactively carrying out this activity. Read more

Jindal Steel & Power posts resilient set of numbers in Q1FY22, consolidated PAT at Rs2,516cr

Published on: 3:55 pm

Jindal Steel & Power Ltd has released its financial results for the quarter ended June 30, 2021.

JSPL posts strong growth yoy in 1QFY22
  • JSPL Consolidated EBITDA Rs4,539cr
  • JSPL Standalone EBITDA Rs4,524cr
  • Consolidated Net debt reduced to Rs15,227cr in 1QFY22 (Ex-JPL). Read more

Trident stock ends at a 5% lower circuit after announcing July production data

Published on: 3:47 pm

  • Trident has announced production figures for July 2021 on Tuesday. The stock ended lower on exchanges.
  • In the home textiles division, the company produced 4,691 metric tons and 10,410 metric tons of bath linen and yarn in July 2021.
  • Further, the company produced 2.9 million metres of bed linen in the latest month. Read more

Markets close higher in a volatile trade; IT stocks outperformed

Published on: 3:42 pm

  • Domestic equities witnessed high volatility today, however, managed to settle in the green amid mixed global cues. The Nifty after recording a fresh all-time high fell sharply mainly led by heavy selling pressure in metals, PSU banks and realty stocks. However, financials continued to support the market and arrested a sharp fall.
  • Also, IT stocks remained in focus today as they hit day’s high during trade as Tech Mahindra was the top gainer, followed by Infosys, HCL Tech, Wipro and TCS, among others.
  • Sensex ended at record close high of 54,555, up 152 points or 0.28%, while Nifty50 ended flat at 16,269, up 11 points. Read more

OnMobile Global completes 100% stake acquisition of Technologies rob0; Stock ends 5% lower

Published on: 3:39 pm

  • OnMobile Global on Tuesday said that the company has completed the acquisition of a 100% stake in Technologies rob0 Inc., through its subsidiary Onmobile Global Solutions Canada Ltd.
  • The company acquired Technologies rob0 to add new gaming technology and know-how to accelerate and enhance the gaming business.
  • Rob0 is into the business domain of AIpowered visual retention analytics offering: Plug & Play SAAS created by and for game developers; Innovative offering shows precisely when & why players leave; Smart insights to Optimize Games, Maximize Revenues and Save; and Time and Money. Read more

Dixon Tech forms JV with Japan's Rexxam to manufacture printed circuit boards for AC

Published on: 3:36 pm

  • Dixon Technologies India Ltd has entered into Memorandum of Understanding (“MOU”) with Rexxam Co., Ltd. to form a Joint venture (JV).
  • The said JV Company will undertake manufacturing of Printed Circuit Boards for Air-Conditioners (“PCB”) for domestic and international market and also proposes to file necessary applications with Department for Promotion of Industry and Internal Trade (DPIIT) or any other nodal agency to avail benefits under the PLI Scheme of Government of India.
  • Post execution of mutually acceptable agreements by the parties, the JV Company will be 60% owned by Rexxam & 40% owned by Dixon. Read more

Mindtree recognized with 2021 ISG Digital Case Study Award

Published on: 3:33 pm

  • Mindtree Limited, a global technology services and digital transformation company, has been recognized by Information Services Group (ISG), a leading global technology research and advisory firm, with the 2021 ISG Digital Case Study Award for its best-in-class digital transformation work with four enterprise customers.
  • Mindtree was among the few companies to have four standout case studies chosen from nearly 250 provider submissions around digital transformation initiatives focused on improvements in customer and user experience to drive top-line revenue growth. Read more

Eveready Industries appoints Suvamoy Saha as Joint Managing Director

Published on: 3:32 pm

  • Eveready Industries board of directors on Tuesday appointed Suvamoy Saha as the Joint Managing Director.
  • In its regulatory filing, Eveready said that the recent operating results of the Company has been heartening, yet there remain many challenges thrown up by the ongoing pandemic. Read more

Arihant Superstructures stock hits 10% lower circuit after HDFC reduces interest rates on outstandin

Published on: 3:26 pm

  • Arihant Superstructures on Tuesday announced that HDFC has reduced its interest rates on Arihant Aspire Project that will benefit the company.
  • HDFC reduced the interest rates to 10.75% for term loans of outstanding amount Rs106cr for the Arihant Aspire Project.
  • Earlier, the interest rate on the above-mentioned dues was 12.10% per annum. Read more

FPI schemes for rural areas: Centre

Published on: 3:21 pm

  • The Ministry of Food Processing industries (MoFPI) has been implementing Central Sector Umbrella Scheme - Pradhan Mantri Kisan SAMPADA Yojana (PMKSY) since 2016-17 for overall growth and development of food processing sector, including processing of agro- products and thus increasing the income of the farmers.
  • The component schemes of PMKSY are - (i) Mega Food Park, (ii) Integrated Cold Chain and Value Addition Infrastructure, (iii) Creation /Expansion of Food Processing & Preservation Capacities, (iv) Infrastructure for Agro-Processing Clusters, (v) Creation of Backward & Forward linkages, (vi) Food Safety and Quality Assurance Infrastructure, (vii) Human Resource and Institutions, (viii) Operation Greens. Read more

Shalby stock tumbles 8% despite strong Q1 earnings

Published on: 3:16 pm

  • Shalby Limited, a multi-specialty hospital, has announced its financial results for the quarter that ended on June 30, 2021. The company’s total income of Rs182.8cr growth of 27% on qoq and 347.9% on yoy basis. Operating EBITDA of Rs44.6cr with EBITDA margins of 24.4%.
  • Net profit stood at Rs24.8cr with margins of 13.6%. stood at Rs24.8cr with margins of 13.6%. EPS of Rs2.30 up by 2.3x over the previous quarter.
  • The bed occupied during the quarter were 723, with an occupancy rate of 59.1%, the company said in a filing on Monday. Read more

Newgen further enhances its Intelligent Document Classification software

Published on: 3:15 pm

  • Newgen Software, a global provider of digital transformation platform, has announced the launch of Intelligent Document Classifier (IDC) 2.0, an upgraded version of its content classification and categorization software.
  • The latest version of the software, also part of Newgen’s industry-leading content services platform, uses a python-based web API that takes a document as an input and applies deep learning algorithms to classify the different pages of that document. The classification can be solely done based on the structural features, the textual features, the layout of the document, or by using any combination of these three models. Read more

Kalyan Jewellers consolidated net loss narrows to Rs51cr in Q1FY22, revenue skyrockets by 109% yoy d

Published on: 3:15 pm

  • Kalyan Jewellers has narrowed its consolidated loss to Rs51cr for the quarter ending June 2021 (Q1FY22) period compared to a loss of Rs86cr a year ago same period. Total revenue in the latest quarter was at Rs1,637cr against Rs782cr of June 2020 quarter.
  • Kalyan's consolidated revenue grew by 109% in Q1FY22 compared to Q1FY21, primarily driven by robust sales momentum across stores both before and post lockdowns in the recently concluded quarter, as well as a low base in the last financial year. While the India revenue grew by 94%, Middle East growth was 183%. Read more

Motherson Sumi records Q1 PAT of Rs290cr as cost and efficiency improves; Expects supply chain disru

Published on: 3:05 pm

  • Motherson Sumi posted a consolidated net profit of Rs290cr in the quarter ending June 2021 (Q1FY22) against a net loss of Rs810cr in the same quarter last year, as cost and efficiency improvements limit the impact of industry headwinds.
  • Further, the company garnered an EBITDA of Rs1,462cr and revenue of Rs16,712cr in the quarter under review. In Q1FY22, Motherson's EBITDA margin stood at 14.5% despite the impact on revenues due to production shutdowns in India. Read more

Keventer Agro Limited files draft red herring prospectus with SEBI for IPO

Published on: 3:02 pm

  • Keventer Agro Limited Limited (KAL) has filed a draft red herring prospectus with SEBI for its proposed initial public offering.
  • The Company is looking to raise Rs800 crores comprising of a fresh issue aggregating up to Rs3,500 million (“Fresh Issue”) and an offer for sale of equity shares by Mandala Swede SPV (“Selling Shareholder”) (“Offer For Sale”). The promoters are not selling any shares in the company.
  • The Net Proceeds from the Fresh Issue are proposed to be utilised towards: (i) Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the Company; (ii) Funding capital expenditure requirements of the Company; and (iii) General corporate purposes. Read more

ICRA reaffirms credit rating of L&T Finance Holdings; Stock declines over 2%

Published on: 2:56 pm

  • ICRA Limited has reaffirmed the credit rating of instruments of L&T Finance Holdings Limited and the outlook on the long-term rating has been revised to ‘Stable’ from ‘Negative’.
  • The rating on Non-convertible debentures Rs1,000cr has been reaffirmed ICRA AAA (Stable); outlook revised to ‘Stable’ from ‘Negative’. On commercial papers, Rs2,500cr ICRA A1+ rating is reaffirmed.
  • At around 3.00 pm, L&T Finance Holdings Ltd was trading at Rs86.50 per piece down by Rs1.95 or 2.2% from its previous closing of Rs88.45 per piece on the BSE. Read more

Gemini Edibles & Fats files for Rs2500cr IPO

Published on: 2:56 pm

  • Gemini Edibles & Fats India Limited, owners of the “Freedom brand” and market leaders in the sunflower oil category across Telangana, Andhra Pradesh and Odisha has filed for a Rs 2500 cr IPO with the market regulator.
  • The Issue is a complete Offer for Sale by the Selling Shareholders and the company will not receive any funds from the net proceeds of its initial public offering
  • Investment Bankers appointed to the issue are Axis Capital Limited, Credit Suisse Securities (India) Private Limited, Kotak Mahindra Capital Company Limited and Nomura Financial Advisory and Securities(India) Private Limited. Read more

Fusion Microfinance files DRHP with SEBI

Published on: 2:50 pm

  • Fusion Microfinance Limited (FML) filed its DRHP with SEBI.
  • The IPO Initial Public Offering (IPO) comprises of equity shares of face value of Rs10 each (“Equity Shares”) of Fusion Microfinance Limited, which comprises of a fresh issue aggregating up to Rs6,000 million (the “Fresh Issue”) and an offer for sale by Devesh Sachdev, Mini Sachdev, Honey Rose Investment Ltd, Creation Investments Fusion, LLC, Oikocredit Ecumenical Development Co-operative Society U.A., and Global Financial Inclusion Fund, (the “Selling Shareholders”), of up to 1,300,000 equity shares, up to 200,000 equity shares, up to 6,321,375 equity shares, up to 4,000,000 equity shares, up to 6,606,375 equity shares and up to 3,539,091 equity shares, respectively. Read more

Rupee slips 14 paise against US Dollar

Published on: 2:47 pm

  • The Indian rupee fell against the US dollar tracking the firm American currency. The rupee currently traded lower 14 paise at 74.41 against US Dollar.
  • On Monday, the local unit snapped a five-day winning streak and settled at 74.26 against the dollar tracking firmness in the greenback overseas.
  • Meanwhile, the dollar index, which measures the greenback against a basket of currencies has managed to break above the 93 levels. Read more

Bank Nifty trades flat as AU Small, Kotak Bank limits downside; Nifty PSU Bank sheds 2.5%

Published on: 2:45 pm

  • Investors turned cautious in banking stocks as the Bank Nifty traded on a flat note. Major heavyweights like HDFC Bank, Axis Bank and Kotak Bank limited the losses as PSU Bank stocks witnessed massive profit-booking amid quarterly earnings that resulted in a slight downside in Bank Nifty.
  • At around 2.45 pm, Bank Nifty was trading at 36,000.50 up 16.30 points or 0.08%. The index has touched an intraday high and low of 36,317 and 35,890.50 respectively. Read more

V2 Retail opens new retail store in Uttar Pradesh; Stock tumbles 6%

Published on: 2:35 pm

  • V2 Retail, a fastest growing retail company in India has announced the opening of a new Retail Store of the Company.
  • The Company has opened 1 new Retail Store located at Lakhimpur-Kheri (Uttar Pradesh).
  • Therefore, currently 95 retail stores of the Company are operational. Read more

Market pulse at 2:30 PM today

Published on: 2:30 pm

  • Indices are flat as Metal and PSU Bank stocks sink amid volatile trade.
  • BSE Sensex is currently 54,476.60 up 73.75 points or 0.14%.
  • Nifty50 is currently 16,252.95 up 5.30 points or 0.03%. Nifty Bank is 35,992.80, down 0.10 points. Mid-cap Index is down by 1.60%. Read more

NSE IFSC to introduce trading in US Stocks

Published on: 2:21 pm

  • NSE International Exchange (NSE IFSC), a wholly-owned subsidiary of the National Stock Exchange of India Ltd (NSE), has announced that trading in select US Stocks will soon be facilitated through the NSE IFSC platform. The offering will be in the form of unsponsored depository receipts. IFSCA has facilitated the same under the Regulatory Sandbox.
  • The entire trading, clearing, settlement and holding of US Stocks will be under the regulatory structure of IFSC Authority.
  • This initiative is a first of its kind at IFSC where Indian retail investors will be able to transact on the NSE IFSC platform under the Liberalized Remittance Scheme (LRS) limits prescribed by the Reserve Bank of India (RBI). Read more

Somany Ceramics expands its footprints in Gurugram

Published on: 2:15 pm

  • Somany Ceramics Limited an internationally acclaimed organization, specializing in ceramics and allied products segments, is known to be a leader in design and innovation has opened its third Somany Grande showroom in Gurugram (Haryana) – KK Marbles & Granite.
  • Spread over 3000 Sq. ft. – the showroom is located at Sector 34 Gurugram and will provide consumers an extensive portfolio of tiles across various tile categories, including ceramic wall and floor tiles, polished vitrified tiles, glazed vitrified tiles, digital tiles. The launch further strengthens the brand’s regional penetration in this part of country. Read more

Nifty Metal sinks 2.7%; SAIL, NALCO among top losers post quarterly earnings

Published on: 2:10 pm

  • The Nifty Metal stocks emerged among the top bears on Tuesday to drag the overall markets. The Index shed 2.7% to remain bearish for the second consecutive day as SAIL, NALCO continued to tumble post quarterly earnings. Another state-owned companies MOIL, and NMDC were also struggling. Hindalco has also been bearish since Monday after the quarterly earnings announcement.
  • The Index was in sell-off on a day when domestic indices touched fresh highs on Tuesday, due to positive global cues. However, the indices turned flat amid volatile trade and Nifty Metal sank further.
  • At 2:10 pm, the BSE Sensex was trading at 54,406.29 up 3.44 points or 0.01% and the Nifty50 was at 16,239.25 down 19.00 points or 0.12%.  Nifty Metal was trading at 5,577.40 down 154.60 points or 2.70% touching a low of 5,574.30 during intraday trade on Tuesday. Read more

Jain Irrigation Systems Q1 PAT increases to Rs13cr; Stock gains 1%

Published on: 2:01 pm

Jain Irrigation Systems Limited, the largest Micro Irrigation Systems Company in the country and second largest globally, has announced un-audited standalone and consolidated results for first quarter of FY 2021-22.

Highlights of Q1 FY2021-22:
  • Consolidated revenue in Q1 registered growth of 32.8% on yoy basis
  • Q1 FY22 consolidated revenue is at Rs1777.5cr and standalone revenue is at Rs696.8cr Read more

MRF records over 12-fold increase in profit at Rs166cr in Q1FY22

Published on: 1:50 pm

  • MRF erased early gains to trade in losses in the afternoon session after reporting a net profit that rises 1130.16% in the June 2021 quarter.
  • The tyre company recorded over a 12-fold jump in its net profit which stood at Rs165.58cr in the quarter ended June 2021 as against Rs13.46cr during the previous quarter ended June 2020.
  • The sales of the company also rose 70% to Rs4183.96cr in the quarter ended June 2021 as against Rs2460.70cr during the previous quarter ended June 2020. Read more

U GRO Capital to be listed on both stock exchanges starting August 11

Published on: 1:49 pm

  • U GRO Capital, a technology enabled small business lending NBFC has announced on Tuesday that it will get listed on the National Stock Exchange (NSE) on August 11.
  • The company is listed on Bombay Stock Exchange (BSE) and with the NSE listing, the company aims to expand access to a larger set of investors and broker network. U GRO Capital’s fully paid-up 70,528,550 shares with face value of Rs. 10 each, symbol UGROCAP and series EQ, will be admitted to dealings on NSE.
  • U GRO Capital was instituted in 2017 by Shachindra Nath, with the buyout of Chokhani Securities Limited. This followed its re-capitalization and rebranding with a Tech-enabled MSME Lending Business model and diverse management team amassing 250 years of combined experience across the financial spectrum. Read more

Nifty Consumer Durables logs modest gains as Crompton Greaves, Orient Electric, Bata India drive

Published on: 1:44 pm

  • The Nifty Consumer Durables logged modest gains on Tuesday despite the majority of stocks were in the red. Even though benchmark Nifty 50 touched a new high, the consumer durables stocks witnessed a slower pace in terms of buying. However, Crompton Greaves, Orient Electric and Bata India kept bears at the bay on the index.
  • On the index, 6 scrips advanced and 9 scrips declined.
  • At around 1.35 pm, Nifty Consumer Durables was trading at 24,160.30 up by 54.05 points or 0.22%. Read more

NBCC secures total business of Rs646.91cr in July-21

Published on: 1:33 pm

  • Shares of NBCC India trading mildly lower on the BSE in an otherwise strong market. The company on Monday said in the filing that it has secured the total business of Rs646.91cr in the month of July 2021.
  • The stock is currently trading at Rs47.65 down by Rs0.25 or 0.52% from its previous closing of Rs47.90 on the BSE. The scrip opened at Rs48.10 and has touched a high and low of Rs48.80 and Rs47.60 respectively.
  • In the month of June 2021, the company has secured total business of Rs206cr. Read more

Market pulse at 1:30 PM today

Published on: 1:30 pm

  • BSE Sensex is currently 54,716.83 up 313.98 points or 0.58%.
  • Nifty50 is currently 16,335.50 up 77.25 points or 0.48%. Nifty Bank is 36,200.60, up 0.48 points. Mid-cap Index is down by 0.45%.
  • Bharti Airtel, Tech Mahindra, Kotak Bank, HDFC, and Mahindra & Mahindra are the top gainers. Shree Cement, Power Grid, State Bank of India, Grasim, and BPCL are the top losers. Read more

Hazoor Multi Projects receives work order aggregating to Rs6.42cr from Varaha Infra

Published on: 1:25 pm

  • Hazoor Multi Projects Ltd has informed the exchange regarding work received by the company.
  • The Company has received work order of Rs6.42cr for completion of Balance work of 'National Highway No 548-A from Section Waken Pali to 2 lane with paved shoulder' from Varaha Infra Limited.
  • On Sensex, at around 1:26 PM, Hazoor Multi Projects was trading at Rs22.80 per piece down by Rs1.2 or 5% from its previous closing of Rs24 per piece on the BSE. Read more

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