Published on: 5:20 pm
- In a written reply in the Rajya Sabha on Wednesday, the Minister of State in the Ministry of Housing and Urban Affairs, Kaushal Kishore announced that 2,781 projects worth Rs48,150cr have been completed under Smart Cities Mission.
- The government launched the Smart Cities Mission (SCM) on 25 June 2015 for the development of 100 cities as Smart Cities. The selection of 100 Smart Cities has been completed through 4 rounds of selection from January 2016 to June 2018. The cities under SCM have shown considerable progress since their selection. Read more
Published on: 5:15 pm
- RBL Bank has announced that it has been empanelled by the Reserve Bank of India (RBI) as an ‘Agency Bank’ to conduct banking business for the Central and State Governments.
- The authorisation will enable RBL Bank, to handle a broad range of transactions related to government business, such as distributing Subsidies, Pension payments, collecting Central and State taxes including Income Tax, Excise Duties, Customs, GST, Stamp Duty, Registration, State Excise (VAT) and professional tax, in both online and offline modes.
- The accreditation comes on the heels of the RBI’s guideline authorising scheduled private sector banks as Agency Banks to carry out specific government‐related business transactions. Read more
Published on: 5:13 pm
- The Union Minister for Road Transport and Highways Nitin Gadkari on Wednesday stressed the importance of time-bound, transparent and fast decision making for Infrastructure development.
- Addressing CII‘s annual meeting he said due to collective team spirit and contribution from all the stakeholders, even in the Covid pandemic good results could be achieved. He said though we have a world record of making 38 KMs per day his target is going up to more than 100 km per day.
- The minister said the decision has been taken to make Detail Project Reports (DPR) more than 3 times the project. Read more
Published on: 5:05 pm
- CESC posted a consolidated net profit of Rs280cr for the quarter ending June 2021 (Q1FY22) higher from Rs209cr in the same quarter last year.
- The company's Q1 PAT, however, was lower from Rs429cr in the preceding quarter.
- Consolidated revenue from operations at Rs3216cr in the quarter under review, up from Rs2614cr in Q1FY21 and Rs2890cr in Q4FY21. Read more
Published on: 4:58 pm
- PNC Infratech garnered a consolidated net profit of Rs117.79cr for the quarter ending June 2021 (Q1FY22) up from Rs91.75cr a year ago same period. The company posted a net profit of Rs150.36cr in the preceding quarter.
- Consolidated revenue from operations was at Rs1,462.51cr in the quarter under review, compared to Rs1,092.81cr in Q1FY21 and Rs1,864.27cr of Q4FY21. Read more
Published on: 4:54 pm
- Kirloskar Oil Engines Limited (KOEL), a leader in the manufacturing of diesel engines, agricultural equipment, and generator sets with a sizable presence in international markets, announced today its financial results for the first quarter of the financial year FY22 ended June 30, 21.
- The company’s consolidated Net Sales stood at Rs809.5cr for Q1FY22 vs Rs415.4cr for Q1FY21; 95% increase yoy. EBITDA at Rs83.5cr for QlFY22 vs Rs10.8cr for Q1FY21; 671% increase yoy. EBITDA margin at 10.2% for Q1FY22 vs 2.6% for QlFY21. Net Profit at Rs32.3cr for Q1FY22 vs loss of Rs6.7cr for Q1FY21. Read more
Published on: 4:52 pm
- Wonderla Holidays Ltd., India’s largest Amusement park chain has announced its financial results for the first quarter ended on 30th June 2021.
- Loss after tax for the First Quarter 2021-22 ended 30th June 2021 was Rs.13.25 crores as against a Loss after tax of Rs.14.51 crores during the corresponding period of last Financial Year.
- Gross Revenue for the First Quarter ended June 30th, 2021 was Rs.5.43 crores against Rs.1.84 crores during the corresponding period of last financial year. Read more
Published on: 4:41 pm
- Pricol Limited, one of India’s leading automotive component and precision engineered product manufacturers, posted a Profit After Tax (PAT) stands at Rs2.41cr in Q1 (2021 – 2022) as against Rs(28.93cr) in Q1 (2020 – 2021)
- Total Income stood at Rs306.52cr in the quarter ended June 30, 2021, as against Rs117.36cr in the corresponding quarter in FY21.
- Revenue from operations for the first quarter of FY22 stood at Rs292.75cr as compared to Rs103.97cr in the first quarter of FY21. Read more
Published on: 4:32 pm
- Chennai based Computer Age Management Services Limited (CAMS), posted a consolidated Profit After Tax was reported at Rs. 63.24 crore as against Rs39.79cr in Q1FY21 with an YoY growth of 58.92 %. PAT margins stood at 30.74 %.
- Revenue from Operations stood at Rs201.18cr as against Rs148.63cr in Q1FY21 with an yoy growth of 35.36%
- Profit Before Tax stands at Rs84.99cr as against Rs51.90cr in Q1FY21 with an Yyoy growth of 63.76 %. Read more
Published on: 4:30 pm
- BAL Pharma Limited a fully integrated pharmaceutical company specialized in Prescription Drugs, Generics, pharma intermediates, and Bulk Actives have announced its results for the quarter ended June 30, 2021.
- Post-Covid related disruptions in Q1FY21, Bal Pharma witnessed robust growth in Q1FY22. The company has delivered an all-round performance with Revenue registering a growth of 36% yoy to Rs71cr in Q1FY22 compared to Rs52.3cr in Q1FY21.
- EBITDA grew by 46% yoy to Rs7.6cr in Q1FY22 compared to Rs5.2cr in Q1FY21. EBITDA margins too witnessed an expansion of 70bps yoy to 10.7% from 10% In Q1FY21. Resolution of logistics and supply chain related issue for Raw material led to overall improvement in EBITDA margins. Read more
Published on: 4:12 pm
- ICRA Limited has placed Tejas Networks Limited ratings on watch with positive implications. The rating on long-term / short-term - Fund Based Rs90cr is ICRA A-% / ICRA A2+%; Placed on watch with positive implications.
- On long-term / short-term – non-fund based Rs193.50cr ICRA A-% / ICRA A2+%, Placed on watch with positive implications. The credit rating agency also placed long-term/short-term - unallocated Rs276.36cr at ICRA A-%/ ICRA A2+%, on watch with positive implications. The total facilities rated aggregated to Rs559.86cr. Read more
Published on: 4:10 pm
- Larsen & Toubro, has announced the divestment of 100% stake in the 3 x 33 MW (99 MW) run of the river hydroelectric power plant owned by its subsidiary L&T Uttaranchal Hydropower Limited (LTUHPL) to Renew Power Services Private Limited, a wholly owned subsidiary of Renew Power Private Limited.
- This is in line with the declared L&T focus of divesting non-core assets and improving shareholder value.
- The transaction is subject to completion of customary closing conditions and closing is expected to take place before September 30, 2021. The sale consideration is 985cr. Read more
Published on: 4:06 pm
- Pidilite Industries recorded a Profit after tax (PAT) of Rs218cr for the quarter ending June 2021 (Q1FY22), rising by 1273% over the same quarter last year. On a like to like basis (excluding PAPL), PAT grew by 1,170%. EBITDA before non-operating income at Rs 357 Cr grew by 429% over the same quarter last year. On a like to like basis (excluding PAPL) EBITDA grew by 396%.
- Further, the company's consolidated net sales were at Rs1,928cr in the quarter under review, increasing by 121% over the same quarter last year. On a like to like basis (excluding PAPL), Net Sales grew by 113%. Read more
Published on: 3:55 pm
- Shiva Mills announced its June 2021 (Q1FY22) quarterly results. The company posted a net profit of Rs3.86cr in Q1FY22 against a net loss of Rs2.42cr a year ago same period.
- However, the Q1 PAT was lower than a profit of Rs5.09cr of the preceding quarter.
- Consolidated revenue from operations was at Rs36.20cr in the quarter under review, higher from Rs9.33cr of Q1FY21 but down from Rs47.34cr of Q4FY21. Read more
Published on: 3:40 pm
- RattanIndia Enterprises Ltd. (REL) has decided to make a strategic investment in US based Matternet, the world’s most extensive urban drone logistics platform. With this investment, REL has forayed into the deep-tech Unmanned Aerial Vehicle (UAV) industry, which is set to transform logistics ecosystems worldwide. Matternet, based out of Silicon Valley counts Boeing, Mercedes-Benz, McKesson Ventures and Sony as investors.
- The company stock was bullish on Wednesday and hit 5% upper circuit and ended on the same at Rs54.50 per piece up Rs2.55 or 4.91% on the BSE. Read more
Published on: 3:32 pm
- Route Mobile Limited has announced the appointment of Bhaskar Pramanik as an Additional and Independent Director on the Board of the Company on August 10, 2021.
- Pramanik is a seasoned entrepreneur and a tech disruptor with a career spanning over 45 years. He has held key National and Global Leadership positions in leading Multinational Technology Companies, across India, Singapore, and the US.
- Pramanik was also on the Executive Committee of NASSCOM, the National Committee of CII and AMCHAM, and has been a former Board member of the State Bank of India, former Chairman of Microsoft India and Managing Director at Oracle Corporation and Sun Microsystems in India. He was also the Global VP for Commercial Systems at Sun Microsystems Inc., based out of Menlo Park, CA. Read more
Published on: 3:26 pm
- Ashoka Buildcon Limited, an integrated EPC and BOT player, reported its financial results for the quarter ended June 30, 2021, on Tuesday. The company’s total income stood at Rs1,059cr in Q1FY22 against Rs621cr in Q1FY21.
- It reported Profit After Tax (PAT) at Rs101cr in Q1FY22 with a PAT Margin of 9.6% in Q1FY22. PAT showed a rise of 46% from Rs69.06cr in Q1FY21. EBITDA of Rs167cr with an EBITDA margin of 15.8% in Q1FY22. Read more
Published on: 3:23 pm
- Markets witnessed a volatile day of trade, with the benchmark index closing on a flat note, led by a closing hour short-covering rally. Bank Nifty underperformed the Nifty index by ~0.6% to close in the red. Financial stocks like HDFC Bank & ICICI Bank led to the underperformance of the Banking index, as the stocks closed ~1% lower on account of long unwindings.
- Nifty Midcap 100 index underperformed the benchmark index, closing ~0.2% lower. Market breadth ended in the favour of the declines with the advance/decline ratio closing at 1:2x. Bank Nifty saw an addition of short positions during the day. Read more
Published on: 3:07 pm
- Shares of Power Grid Corporation of India Ltd (PGCIL) soared 2% in an otherwise dull market. The stock gained after the company posted a nearly three-fold jump in consolidated net profit at Rs5,998.28cr in the June quarter due to higher revenues.
- The consolidated net profit stood at Rs2,048.42cr in the year-ago period.
- The total income of the company also jumped to Rs10,391.61cr in the latest June quarter from Rs9,816.72cr in the same period a year ago. Read more
Published on: 2:57 pm
- Fiberweb (India) Ltd, a 100% EOU manufacturers of non-woven fabrics has reported its Q1FY22 results ending June 30, 2021. The company experienced a 115.71% growth in its total Net Profit at Rs3.65crore, in spite of pandemic and export restrictions
- This growth is due to better margins. The EBIDTA also grew by 6.7% to Rs6.28cr, with improvement in PAT margins at 14.02% while Q1 Sales at Rs26.06cr in Q1 FY22 Read more
Published on: 2:51 pm
- Amid major June 2021 quarterly earnings with Lupin and Cadila being the latest one to announce its financial performance, the Nifty Pharma index was among the top bears on Wednesday's selloff in broader markets. Also, sentiments in the sector are influenced by the rapid rise of Delta variant in the pandemic, active Covid cases and vaccination drive. Investors continue to observe sales and demand recovery in the sector amid the virus outbreak.
- At around 2.51 pm, Nifty Pharma was trading at 14,273.45 down by 229.45 points or 1.58%. The index has touched an intraday high and low of 14,480.75 and 14,145.45 respectively. Read more
Published on: 2:48 pm
- Marksans Pharma reported a consolidated net profit of Rs62.6cr for the quarter ending June 2021 (Q1FY22) rising by 26.8% from Rs49.4cr in the same period a year ago. The company's PAT margin increased to 17.6% in Q1FY22 versus 14.9% in Q1FY21.
- Consolidated operating revenue was at Rs349cr in the quarter under review, registering a single-digit growth of 5.4% from Rs331.2cr last year same quarter.
- EBITDA was at Rs77.3cr in Q1FY22 as compared to Rs70cr in Q1 FY21, an increase of 10.5% yoy. EBITDA Margin stood at 22.2% as against 21.1% in Q1 FY21, Margin expansion of 110 basis points. Read more
Published on: 2:40 pm
- Nifty Consumer Durables Index recovered some losses in the afternoon but continued to trade in the red zone on Wednesday. The Index had slipped over 1% in the morning.
- Whirpool of India sank 4% despite strong Q1 earnings. V Guard continued to slip while Rajesh Exports, Dixon and Amber also shed 2%. Crompton and TTK Prestige advanced amidst the gloom in the sector.
- Indices opened in the green on Wednesday and later on it fell into the red zone, before trimming losses in the afternoon. At around 2.40 pm, BSE Sensex was trading at 54,396.93 down 157.73 points or 0.29% and Nifty50 at 16,244.90 down 35.20 points or 0.22%. Read more
Published on: 2:39 pm
- 20 Microns announced that the board of directors of the company has approved the temporary closure of manufacturing activities of one of the foreign subsidiaries. Also, the board approved a scheme of arrangement like merger with one of the Promoter Group Company Eriez Industries.
- In its regulatory filing, 20 Microns said that the board "approved the temporary closure of manufacturing activities at one of the foreign subsidiaries viz. 20 Microns Vietnam Company Limited, due to present Pandemic scenario but the trading activities by the same will continue." Read more
Published on: 2:33 pm
- Pharma major Lupin Limited reported its financial performance for the quarter ending June 30, 2021
- On a consolidated basis, the drug majors have reported a 5-fold jump in its consolidated net profit at Rs542.46cr for the quarter ended June 30, 2021. The company had posted a net profit of Rs106.90cr for the corresponding period of the previous fiscal. Read more
Published on: 2:30 pm
- Kotak Mahindra Bank Ltd (KMBL) has announced that all eligible Kotak debit cardholders can now avail the Equated Monthly Instalments (EMI) on Debit Card facility on all their mid and high-value purchases, at all offline and online stores across the country.
- Offered under the #KotakSmartEMI initiative, this enables KMBL customers to buy virtually anything and everything – from groceries and fashion to smartphones and electronics – at any merchant establishment and pay via easy instalments. Read more
Published on: 2:30 pm
- Indices recover some losses in the afternoon but continue to trade lower. Metal stocks are nearly 3% higher.
- BSE Sensex is currently 54,392.40 down 162.26 points or 0.30%.
- Nifty50 is currently 16,245.70 down 34.40 points or 0.21%. Nifty Bank is 35,775.90, down 0.72 points. Mid-cap Index is up by 0.06%. Read more
Published on: 2:03 pm
- Metal company stocks were in the fast lane taking Nifty Metal index near record levels and emerging as the top bull of Wednesday. Nifty Metal index defied broader bearish markets tone as investors turned bullish on the sector amid June 2021 quarterly earnings. The index has also recovered from its past two day's selloff.
- At around 2.02, Nifty Metal was trading at 5,715.85 up 142.55 points or 2.56%. The index has touched an intraday high and low of 5,754.95 and 5,600.20 respectively.
- Vedanta was the top gainer trading up by 5%. The stock had touched a new 52-week high of Rs324.30 per piece in the early deals. Read more
Published on: 1:50 pm
- The Nifty Healthcare stocks remained bearish despite some recovery in the afternoon trade on Wednesday. The Index shed with Lupin sinking 6% post Q1 earnings. Sanofi and Dr. Lal Pathlabs were also under pressure and Cadila was also struggling ahead of Q1 earnings. Torrent Pharma also was bearish amid gloom in the sector.
- Natco Pharma lifted spirits by surging over 2% while Alkem Lab also gained nearly 2%. Fortis was also trading 1% higher. Read more
Published on: 1:43 pm
- Acuité has assigned its long term rating of ‘ACUITE BB-’ and short term rating of ‘ACUITE A4+’ to the Rs1,450.00cr bank facilities of SpiceJet Limited. The outlook is ‘Stable’.
- The rating takes into account SpiceJet’s market position as the second largest domestic airliner in India and its systemic importance in the low cost air travel space, the gradual revenue diversity through the cargo business and the experience of the management with a track record of past turnaround in the airline’s operations.
- While the airline industry has been severely impacted by the Covid pandemic since FY21, SpiceJet’s credit quality is also constrained by the challenges around its Boeing Max fleet and the uncertainty around the compensation from Boeing, the renegotiation of lease rentals and its weak financial position. Read more
Published on: 1:30 pm
- BSE Sensex is at 54,462.44 down 92.22 points or 0.17%.
- Nifty50 is at 116,249.45 down 30.65 points or 0.19%. Nifty Bank is 35,787.70, down 0.68 points. Mid-cap Index is down by 0.04%.
- JSW Steel, Tata Steel, Hindalco, NTPC, and Power Grid are the top gainers. Shree Cement, Bajaj Auto, Kotak Bank, M&M, and Sun Pharma are the top losers. Read more
Published on: 1:27 pm
- Ester Industries Ltd has informed that on August 09, 2021, the Board of Directors has approved Capital expenditure of Rs80cr for capacity expansion of certain grades of Speciality Polymer business.
- The existing capacity of these products is 6000 MTPA and the capacity utilization is more than 80%.
- The company proposes capacity addition of 6000 MTPA for these products and the period within which the proposed capacity is to be added is 24 months. Read more
Published on: 1:05 pm
- Deepak Fertilisers & Petrochemicals Corporation Limited on Tuesday announced its results for the quarter ending June 30, 2021.
- Topline grew by 37.6% yoy to Rs1,902cr in Q1FY22 from Rs1,382cr in Q1FY21. Operating EBITDA of Rs290cr, growth of 6.7% yoy from Rs272cr in Q1FY21. Net Profit growth of 7.8% to Rs131cr in Q1FY22 compared to Rs121cr in Q1FY21.
- The company stock was bearish post earnings and at around 1.08 pm, Deepak Fertilizers & Petrochemicals Corp Ltd was trading at Rs420.85 per piece down by Rs22.1 or 4.99% from its previous closing of Rs442.95 per piece on the BSE. Read more
Published on: 1:04 pm
- Sapphire Foods India Limited (SFIL), YUM’s largest franchisee operator in the Indian subcontinent in terms of revenue in the financial year 2020, filed its DRHP with SEBI.
- JM Financial Limited, BofA Securities India Limited, ICICI Securities Limited and IIFL Securities Limited are the book running lead managers.
- The equity shares will be listed on BSE and NSE. Read more
Published on: 1:00 pm
- India Glycols Ltd has informed that the Board of directors has approved to set up, install and commission grain based distillery units with a capacity of 180 KLPD and 110 KLPD at its Kashipur and Gorakhpur Sites.
- An estimated total capital expenditure of approximately Rs304 cr would be incurred on the project.
- The grain distillation capacities at Gorakhpur and Kashipur are expected to be commissioned by 31 st March, 2022. Read more
Published on: 12:54 pm
- OPDPA (The Oil Palm Developers and Processors Association), the Nodal Agency for Oil Palm Cultivation in India welcomes the announcement by PM Mr. Narendra Modi on taking up Oil Palm plantations aggressively in India to make India self-sufficient in edible oils. Prime Minister Narendra Modi announced a new national initiative on palm oil production on Monday to help increase Oil Palm Production in the country, thereby helping curtail imports and simultaneously increasing farmer income. The scheme, namely, National Edible Oil Mission-Oil Palm (NMEO-OP), for self-reliance in edible oil involves an investment of over Rs11,000cr towards Palm Oil development.
- Through this announcement, the Government clearly places its emphasis on the Make In India and Atmanirbhar Bharat agenda which will make India self-sufficient in edible oils. The OPDPA has been requesting a significant policy change to push local Oil Palm cultivation and thanks to the PMs vision, the same has been accommodated.
- The scheme, according to sources, is expected to incentivise the production of palm oil to reduce dependence on imports and help farmers cash in on the huge market availability for Oil Palm. The Centre plans to raise the domestic production of palm oil by three times to 11 lakh MT by 2025-26. This will involve raising the area under oil palm cultivation to 10 lakh hectares by 2025-26 and 16.7 lakh hectares by 2029-30. Read more
Published on: 12:43 pm
- ICRA estimates that 20 state governments have substantial aggregate unutilised borrowings of Rs. 2.6 trillion for FY2021, that have been carried forward to FY2022. For the current fiscal, out of the normal net borrowing ceiling (NBC) of 4.0% of gross state domestic product (GSDP) set by the Government of India (GoI) for the 28 state governments (Rs. 8.5 trillion), 3.5% of GSDP may be considered unconditional.
- The permission for the balance 0.5% of GSDP (Rs. 1.1 trillion) has been earmarked by the GoI towards incremental capital expenditure by the state governments in FY2022, making it effectively conditional in nature. The size of the unutilised borrowing of FY2021 as a proportion of the FY2022 GSDP exceeds 0.5% of GSDP for 15 states, reducing their likely dependence on the conditional borrowing of 0.5% of GSDP. Read more
Published on: 12:31 pm
- Ganesh Benzoplast Ltd has informed that the Company has incorporated a wholly-owned Subsidiary Company for EPC projects.
- Name of the Wholly-Owned Subsidiary Company: 'GBL Infra Engneering Services Private Limited'.
- Date of Incorporation: August 09, 2021 Read more
Published on: 12:30 pm
- India Cements recorded a consolidated net profit of Rs43.05cr for the quarter ending June 2021 (Q1FY22), more than doubling from Rs19.47cr a year ago same period.
- The company had posted a net profit of Rs50.19cr in the preceding quarter.
- Consolidated revenue from operations stood at Rs1045.25cr in the quarter under review increasing from Rs763.46cr in the corresponding period of the previous year. The latest revenue figures declined in comparison from Rs1472.45cr of Q4FY21.
- At around 12.27 pm, India Cement was trading at Rs176.30 per piece down by 3.6% on Sensex. Read More
Published on: 12:30 pm
- Domestic market barometers remain lower despite a surge in Metal stocks. Pharma, Healthcare and Consumer Durables stocks drag.
- BSE Sensex is currently 54,347.11 down 207.55 points or 0.38%.
- Nifty50 is currently 16,228.90 down 51.20 points or 0.31%. Nifty Bank is 35,754.90, down 0.77 points. Mid-cap Index is down by 0.47%.
- JSW Steel, Hindalco, Tata Steel, ONGC, and IOC are the top gainers. Shree Cement, Kotak Bank, Bajaj Auto, Sun Pharma, and Tata Consumer are the top losers.
- Nifty Metal stocks surge over 2% while Oil and Gas stocks are also higher. Rest all the other sectors are in the red. Pharma, Health Care, Consumer Durables, Reality and Media stocks struggle the most.
- Out of 50 stocks traded on the NSE, 17 advanced and 33 declined. Read More
Published on: 12:17 pm
- GOCL Corporation Limited informed the exchanges Tuesday that its UK-based subsidiary HGHL Holdings Limited has completely divested its beneficial holding in Quaker Houghton. The aggregate amount of consideration received by HGHL in this regard is USD 80 million (approx.) to date.
- The Board of Directors of HCHL had decided to divest beneficial interest equivalent to 2,00,000 shares of Quaker Houghlon in September last year. Read more
Published on: 12:16 pm
- Tata Consultancy Services (TCS) on Wednesday announced that it has been recognized as a Leader, in the Everest Group PEAK Matrix for Data and Analytics Services, for the third time in a row.
- “Enterprises across the globe are striving to become insights-driven and nimbler in responding to evolving market demands. Our contextual knowledge, industry-acclaimed thought leadership, and next-gen solutions and platforms help them elevate customer experience, accelerate business outcomes, discover new revenue streams and achieve multi-fold productivity improvements,” said Dinanath Kholkar, Global Head, Analytics and Insights, TCS. Read More
Published on: 12:10 pm
- Chalet Hotels Limited, owner of several luxury hotels in key metro cities of India, on Tuesday announced its results for the first quarter ending June 30, 2021. Adjusted Total Income grew by 21% to Rs71.5cr as compared to Rs58.9cr in Q1FY21. Adjusted EBITDA1 was 760% yoy higher at Rs2.5cr as compared to Rs0.3cr in Q1FY21. The company’s loss was at Rs41.8cr in Q1FY22 compared to Rs39.4cr in Q1FY21.
- The company said, for the Hospitality segment, the Adjusted Revenue Growth for Q1FY22 was 48%. Occupancy for Q1FY22 was at 36% as against 24% for Q1FY21 an expansion of 1,200 bps. Post the second wave in the month of June, occupancy jumped to 47%. REVPAR at Rs1,252 up by 35%. Retail & Commercial segment: revenues were at Rs23.3cr with EBITDA at Rs19.1cr for Q1FY22. Read more
Published on: 12:04 pm
- CRISIL Ratings has reaffirmed its rating on the short-term debt and commercial paper programme of Sundram Fasteners Limited (SFL) at 'CRISIL A1+'.
- The ratings continue to reflect SFL's leading market position in the fasteners industry, revenue diversity, healthy operating efficiency, and strong financial risk profile.
- These rating strengths are partially offset by working capital-intensive operations, and moderate, albeit improving profitability of overseas subsidiaries. Read more
Published on: 11:50 am
- The credit rating of Macrotech Developers Limited has been upgraded by Brickwork Ratings India Private Limited. The rating on fund-based Loans long-term facilities has been upgraded from BWR BBB / Stable to BWR BBB+/Stable.
- The credit rating agency also upgraded rating on Non-Convertible Debentures (long-term) from BWR BBB / Stable / BWR BBB- /Negative to BWR BBB+/Stable / BWR BBB /Stable. On fund-based facility CC/OD long-term, rating was upgraded from BWR BBB / Stable BWR A3 to BWR BBB+/Stable. Read More
Published on: 11:36 am
- Leading global Financial Technology (Fintech) solutions provider Infibeam Avenues Limited has announced its consolidated financial results for the quarter ended June 30, 2021.
- Operational Highlights:
- Transaction Processed Value up 170% yoy to Rs50,651cr
- Gross Revenue up 120% yoy to Rs216cr
- Profit After Tax up 14% yoy to Rs13cr
- With the irreversible digitalization of Indian and global economies, Infibeam Avenues has planned to foray into data-driven credit/lending space. Infibeam’s data-driven credit/lending will be asset-light and digital-only, targeting merchants in factoring (bill discounting) business. Read More
Published on: 11:35 am
- Shriram City Union Finance Ltd. (Shriram City) and Shriram Transport Finance Company (STFC) both part of the Shriram Group raised record Retail Fixed Deposits (FDs) worth Rs2,000cr in July 2021. Attractive interest rates, large customer base of 6.4 Million customers, long track record of 20+ years of issuing FDs, digitally enabled systems, strong parentage and reputed brand name, along with the covid induced need for security led to the record FDs raised by Shriram City and STFC.
- Shriram City raised retail FDs worth Rs390cr, while STFC raised Rs1,610cr in July 2021, the highest ever funds raised from retail FDs for both entities. In Q1FY22, Shriram City witnessed Retail FD growth of 33% to Rs5,761cr, while STFC saw a growth of 49% to Rs17,903cr. Read More
Published on: 11:30 am
- Indices remain bearish as Pharma and Healthcare stocks drag the most.
- BSE Sensex is currently 54,260.52 down 294.14 points or 0.54%.
- Nifty50 is currently 16,199.45 down 80.65 points or 0.5%. Nifty Bank is 35,630.70, down 1.12%. Mid-cap Index is down by 1.54%.
- JSW Steel, Tata Steel, Hindalco, Power Grid, and IOC are the top gainers. Sun Pharma, Kotak Bank, Bajaj Auto, Divis Lab, and Tata Consumer are the top losers.
- Nifty Metal stocks surge over 1.3% while all the other sectors are in the red. Pharma and Health Care stocks sink around 2.5%.
- Out of 50 stocks traded on the NSE, 13 advanced and 37 declined. Read more
Published on: 11:19 am
- Yes Bank announces the appointment of Mahesh Ramamoorthy as the Chief Information Officer. In this critical role, he will lead Technology and Digital transformation for the Bank. Mahesh will also lead the new age technologies such as API, AI/ML, BI and Business Solutions which is going to be driving factor for all the new products at YES BANK.
- Mahesh comes with over three decades of experience in the BFSI technology space in payments & banking technology, product design, business solution and project management across Indian and MNC Banks and technology firms. In his previous role, he was leading the Payments vertical for Europe, Asia Pacific, Middle East and Africa at FIS Inc. He has also been associated with Barclays Bank, Kotak Mahindra Bank, Aviva Plc, DCB Bank, IDBI Bank and Standard Chartered Bank. Read More
Published on: 11:15 am
- Whirlpool of India Limited on Tuesday announced strong operating results for the first quarter of 2021-22. Total revenue from operations of Rs1,341cr in Q1FY22 up 30.5% yoy against Rs1027cr in Q1FY21. EBITDA of Rs55.5cr up by 18.7% yoy.
- Consolidated Profit Before Tax (PBT) at Rs34.9cr in Q1FY22 up by 42.9% yoy from Rs24.40cr in Q1FY21. Profit After Tax (PAT) stood at Rs25.5cr up by 41.7% yoy from Rs15.75cr in Q1FY21.
- The company stock was under pressure on Wednesday and at around 11.18 AM, Whirlpool of India Ltd. was trading at Rs2,004.30 per piece down by Rs108.3 or 5.13% from its previous closing of Rs2,112.60 per piece on the BSE. Read more