Live market updates

13th Aug, 2021

Prudent Corporate Advisory Services files DRHP with SEBI

Published on: 5:34 pm

  • Prudent Corporate Advisory Services Ltd (PCASL) filed its DRHP with SEBI. The equity shares are proposed to be listed on BSE and NSE.
  • The Company offers a technology enabled, comprehensive investment and financial services platform with end-to-end solutions critical for financial products distribution and presence across both online and offline channels.
  • PCASL is the fastest growing national distributor (amongst the top 10 mutual fund distributors) in terms of commission and AAUM with a CAGR of 34.4% and 32.5% respectively for the five year period ending Fiscal 2021. Read more

Finolex Cables posts a qoq increase in PAT by 58% in Q1FY22

Published on: 5:29 pm

  • Finolex Cables Ltd., (FCL) at the meeting of its Board of Directors held today approved results for the first quarter of the financial year 2021-22.
  • Profit for the quarter, after taxes, was Rs.55.1 Cr, as compared to Rs.35 Cr in the previous year, an improvement of 58%.
  • Revenues for the quarter ended June 2021 were Rs.675.4 Cr as against Rs.377.1 Cr for the corresponding period in the year 2020-21, representing a 79% growth in value terms. In volume terms, Electrical Wires increased by 7 %, while Power Cables increased by 23%. Read more

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Tata Power's subsidiary commissions 100MW Solar PV Project in Gujarat

Published on: 5:20 pm

  • Tata Power Renewable Energy Limited (TPREL), a wholly owned subsidiary of Tata Power has successfully commissioned 100 MW Solar Power project at Raghanesda Solar Park, Gujarat.
  • This project is another landmark for TPREL, as in the first year of its operation, the 100MW plant is expected to generate 255 million units.
  • "The installation will reduce 200,000 tonnes of carbon emission every year. Raghanesda Solar Park, located in the Banaskantha district of Gujarat, is one of the biggest solar parks in the country", said company. Read more

RattanIndia Enterprises stock ends 4% up after Revolt enables smartphone-based keyless activation/de

Published on: 5:19 pm

  • RattanIndia Enterprises-backed Revolt Motors has enabled smartphone-based keyless activation/deactivation for its Revolt electric bikes. With this feature, Revolt electric bikes can be remotely switched on/off via the MyRevolt App. These AI-based electric bikes have some of the most advanced cloud-based software systems running their controls.
  • The company has been first in class to introduce this feature and will be available to Revolters in September 2021. Not only the new bikes but even previous customers of RV400 bikes will be able to use this feature via system updates. Read more

JB Chemicals & Pharma records revenue growth of 16% to Rs606cr in Q1FY22

Published on: 5:17 pm

  • J. B. Chemicals & Pharmaceuticals Limited (JBCPL), one of the fastest growing pharmaceutical companies in India, announced its financial results for the first quarter ended 30th June, 2021.
  • For the first quarter ended 30th June 2021, the Company recorded revenue of Rs. 606 crores as compared to Rs. 522.3 crores, registering growth of 16% over the corresponding quarter ended 30th June, 2020.
  • EBITDA (Earnings Before Interest Depreciation and Taxes) increased by 5% to Rs. 163.7 crores as compared to Rs. 155.4 crores. EBITDA margin for the quarter was at 27% as compared to 29.8%. Profit after Tax was flat at Rs. 118.9 crores as compared to Rs. 119.4 crores. Read more

Healthcare Triangle releases ready-to-deploy Blockchain network

Published on: 5:10 pm

  • Securekloud Technologies has announced the release of Blockedge, a blockchain infrastructure and automation platform for healthcare and life sciences, in partnership with blockedge.io a leading blockchain transformation provider. This ready-to-deploy blockchain network can operate on any public cloud, with real-time support from blockchain experts.
  • “Blockedge eases blockchain adoption for healthcare and life sciences organizations by providing a plug-and-play solution that provides support for a wide range of use cases,” says Suresh Venkatachari, CEO, HTI. “With Blockedge, leaders can focus on organizational goals rather than concentrating time and talent on deploying, managing and optimizing their blockchain network.” Read more

ACC becomes the first Indian cement firm to sign the net zero pledge with science-based targets

Published on: 5:08 pm

  • ACC Limited (ACC) has its 2030 carbon emission reduction targets endorsed by the Science Based Targets initiative (SBTi). The company has signed the “Business Ambition for 1.5°C” pledge and joined the Race to Zero campaign of the United Nations Framework Convention on Climate Change. This makes ACC the first company in the Indian construction sector to sign the “Business Ambition for 1.5°C” commitment with 2030 intermediate targets approved by SBTi.
  • ACC partnered with CDP India's SBTi Incubator Program to develop its science-based targets. ACC’s SBTi approved targets align with the reductions required to limit warming to well below 2°C. ACC commits to reduce scope1 GHG emissions by 21.3% per ton of cementitious and scope 2 GHG emissions 48.4% per ton of cementitious material by 2030, from a 2018 base year*. Read more

Suprajit Engineering reports net profit of Rs43.16cr in the June 2021 quarter

Published on: 5:08 pm

  • Suprajit Engineering reported a net profit of Rs43.16cr in the quarter ended June 2021 as against a net loss of Rs14.51cr during the previous quarter ended June 2020.
  • The sales jump 103.76% to Rs361.62cr in the quarter ended June 2021 as against Rs177.47cr during the previous quarter ended June 2020. Read more

Madras Fertilizers shuts down its ammonia and urea plants from today for maintenance purpose

Published on: 5:05 pm

  • Madras Fertilizers has shut down its ammonia and urea plants from Friday onward for undertaking annual turnaround maintenance.
  • The company said that the ammonia/urea plant is expected to resume production during the first week of September 2021, tentatively. Read more

Talbros Automotive Components logs PAT of Rs10cr in Q1FY22

Published on: 5:04 pm

  • Talbros Automotive Components Limited, announced its un-audited financial results for the quarter ended 30th June 2021. The company reported PAT of Rs10 crores in Q1FY22. Total Income from Operations stood at Rs.139 crores in Q1FY22, 175% growth compared to Rs51cr revenue in Q1FY21.
  • The company posted a reported EBITDA of Rs19cr in Q1FY22 as against Rs2cr in Q1FY21. EBITDA margin stood at 13.8% in Q1FY22.
  • The stock ended at Rs307.10 down by Rs11.8 or 3.7% from its previous closing of Rs318.90 on the BSE. Read more

Aurobindo Pharma to subscribe fresh shares in Cronus Pharma Specialities for Rs420cr

Published on: 4:57 pm

  • Aurobindo Pharma announced that the company has entered into definitive agreements under which the Company will subscribe to fresh equity shares in Cronus Pharma Specialities India, subject to closing conditions, amounting to Rs420cr.
  • In a statement, on Thursday, Aurobindo said that the target company is in the business of veterinary pharmaceutical formulation business catering to export markets and complements the Company's product offerings in the regulated markets. The acquisition will provide the Company with a foothold in the US$48 Billion global animal health market. Cronus has 67 products in its pipeline, of which 22 have been filed and 6 have been approved by the Centre for Veterinary Medicine, USFDA. Read more

Pioneer Embroideries-led Hakoba brand launches first ready-to-wear garments

Published on: 4:53 pm

  • Pioneer Embroideries Limited (PEL), one of the key players in the Embroidery & Laces in India and owners of brand "HAKOBA" has launched its first range of Ready-to-Wear (RTW) garments for both women and men.
  • To commemorate the nation's 75th year of independence, the first "HAKOBA" RTW range will entirely be in white.
  • This special range is being launched in all white, since the colour White signifies: Read more

TCS named 2021 MongoDB Global System Integrator Partner of the Year; Stock ends over 3% up

Published on: 4:52 pm

  • Tata Consultancy Services (TCS), has been named the MongoDB Global System Integrator Partner of the Year for its bold, innovative solutions that accelerate the growth and transformation journeys for businesses across industries, the company said in a filing on Friday.
  • TCS has been partnering with leading enterprises across the world in their application and data modernization initiatives as part of their multi-horizon cloud transformation journeys. It has been building innovative new applications that leverage the power of MongoDB’s flexible document model to easily manage large datasets of structured as well as unstructured data and derive insights to enhance customer experience. Read more

Cummins unveils ‘Made in India’ 2500kva Commercial Diesel Generator QSK60 - G23 set; Stock ends high

Published on: 4:50 pm

  • Cummins India Limited unveiled its ‘Made in India’ - QSK60 G23: 2500-2750 kVA Diesel Generator (DG) set at its 60th Annual General Meeting. The Diesel Generator set which is an Integrated Power Solution has been launched to meet the increasing power requirements by industry segments like Data Centers and large scales infrastructure projects like Airports and Commercial Realty in India. Read more

Rico Auto Industries acquires 26% stake in solar power supplier, Roop Ram Industries

Published on: 4:44 pm

  • Rico Auto Industries has purchased 24,34,640 equity shares of Rs10 each of Roop Ram Industries Private Limited (Solar Power Generator) constituting 26% of the paid-up share capital of the latter.
  • The reason behind the acquisition is for procuring an uninterrupted and cost-effective Solar Power Supply.
  • The transaction has been completed on August 11, 2021. Read more

Intrasoft Tech ends at lower circuit after revenue in Q1FY21 declines to $13.66 million

Published on: 4:39 pm

  • IntraSoft Technologies Ltd. on Thursday announced its results for the quarter ended June 30, 2021. Operating Cash Flow for the quarter was $1.65 million, as against $0.48 million in the comparable quarter last year.
  • Revenue for the quarter stood at $13.66 million, as against $14.44 million in the previous quarter and $28.26 million in the comparable quarter last year (COVID quarter). Accounts Payable at the end of 30 June was $3.87 million, as compared to $3.12 million same times last year. This reflects approximately 23.5 Accounts Payable Days on an annualized basis, the company said in a regulatory filing. Read more

Bank credit rises to over Rs109.10 lakh cr in latest fortnight, deposits increases too

Published on: 4:36 pm

  • Bank credit and deposits grew slightly in the latest fortnight ending July 30, 2021. The Reserve Bank of India (RBI) has released the scheduled banks’ Statement of Position in India for the mentioned fortnight.
  • As per the RBI data, Bank credit rises to over Rs109.10 lakh cr as of July 30, 2021, compared to over Rs108.78 lakh cr in the previous fortnight ending July 16, 2021.
  • The bank credit stood over Rs102.82 lakh cr in the fortnight ending July 31 last year. Read more

Zensar wins multi-million-dollar contract with City of San Diego

Published on: 4:30 pm

  • Zensar Technologies, a leading experience engineering and technology solutions company has announced it has signed a four year, multi-million-dollar contract with the City of San Diego for Workplace and Enterprise Compute Manage IT Services.
  • The contract has the option of extension of two additional two-year terms with the total not to exceed the value of $122 million.
  • “We are delighted the City of San Diego has selected Zensar as its provider for Enterprise Compute Services and Workplace Services,” said Ajay S. Bhutoria, CEO and Managing Director of Zensar. Read more

ICRA places Piramal Enterprises rating on watch with developing implications

Published on: 4:29 pm

  • ICRA Limited has revised the credit rating for Piramal Enterprises Limited from ‘ICRA AA; Negative’ to ‘ICRA AA; placed on watch with developing implications’.
  • For long-term - Non-Convertible Debentures (NCDs) the credit rating agency has been assigned ICRA AA; placed on watch with developing implications. On long-term / short-term facilities rating assigned was ‘ICRA AA/ ICRA A1+’; placed on watch with developing implications. Read more

Launch of Vehicle Scrappage Policy today is a significant milestone in India’s development journey:

Published on: 4:25 pm

  • Prime Minister Narendra Modi has said that the launch of the Vehicle Scrappage Policy today is a significant milestone in India’s development journey.
  • In a series of tweets, the Prime Minister said; "The launch of Vehicle Scrappage Policy today is a significant milestone in India’s development journey. The Investor Summit in Gujarat for setting up vehicle scrapping infrastructure opens a new range of possibilities.” Read more

RBI imposes Rs1cr penalty on Cooperatieve Rabobank U.A for contravention of provisions

Published on: 4:24 pm

  • The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs1cr on Cooperatieve Rabobank U.A. (the bank) for contravention of provisions. The penalty has been imposed in the exercise of powers vested in RBI under the provisions of section 47 A (1) (c) read with section 46 (4) (i) of the Act.
  • In a statement, RBI highlighted that the statutory Inspection for Supervisory Evaluation (ISE) of the bank was conducted by RBI concerning its financial position as on March 31, 2020, and the examination of the Risk Assessment Report about the same, revealed, inter-alia, contravention of above- mentioned provisions of the Act and the directions issued by RBI. In furtherance to the same, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for contravention of the provisions of the Act and the RBI directions, as stated therein. Read more

Adi Godrej to step down as Chairman of Godrej Industries, Nadir Godrej to take over the charge

Published on: 4:19 pm

  • Godrej Industries Limited (GIL) on Friday has announced the following changes to its Board of Directors, effective October 1, 2021.
  • Adi Godrej will step down as Chairman and from the Board of Directors of GIL. He will continue to serve as Chairman of the Godrej Group and Chairman Emeritus of GIL. Nadir Godrej, who is currently Managing Director of GIL, will take over as Chairman and Managing Director of the company.
  • Commenting on the announcement, Adi Godrej, said, “It has been a privilege to serve Godrej Industries for over four decades, during which we have delivered strong results and transformed our company. Read more

Henkel delivers very strong performance in the first half year; Double-digit growth in organic sales

Published on: 4:15 pm

  • Following a strong start to the fiscal year 2021, Henkel has once again accelerated growth during the first half and has already exceeded the pre-crisis level of 2019 after having adjusted for currency effects.
  • Despite the impacts of the global coronavirus crisis that continue to adversely affect the social and economic environment in numerous markets around the world, Henkel, achieved significant sales and earnings growth in the first half of the year. Organic sales growth reached 11.3 percent in the first six months of 2021.
  • Group sales amounted to around 10 billion euros, an increase of 4.7 percent in nominal terms. Read more

Expleo Solutions registers sequential increase in Q1 PAT to Rs13cr

Published on: 4:07 pm

  • Expleo Solutions Limited on Thursday announced its first-quarter results ended on June 30, 2021. The operating revenue was Rs88cr in Q1FY22 as compared to Rs75.8cr in Q1FY21, reflecting a growth of 16.1% yoy. Revenue was Rs79.3cr in Q4FY21, reflecting a growth of 11.0% qoq.
  • Total income was Rs92.2cr in Q1FY22 as compared to Rs77.4cr in Q1FY21, reflecting a growth of 19.1% yoy. Total income was Rs80cr during the previous quarter, reflecting a growth of 15.2% qoq. Read more

Indices end at fresh record high led by IT, bank stocks; Sensex tops 55,400; Nifty settles above 16,

Published on: 3:58 pm

  • It was another good day for the stock market as benchmark indices soared to fresh record highs on Friday. The S&P BSE Sensex index crossed over the 55,400 level for the first time and Nifty rising above 16,500.
  • Notably, sustained rebound in IT followed by recovery in financials and consumers aided benchmark indices to defy weak cues from Asian markets. Barring, metal, pharma and realty, most key sectoral indices ended in the green today.
  • BSE Sensex made a new high of 55,488 and closed the day at 55,437, up 593 points or 1.08%. Nifty50 crossed both 16,400 and 16,500 and finally settled at 16,529, up 165 points or 1.01% after hitting new high of 16,544. Read more

Cupid records a subdued Q1 PAT to Rs5.9cr, revenue rises to Rs32.35cr; Stock ends lower

Published on: 3:46 pm

  • Cupid Limited, one of India’s leading manufacturers of quality male and female condoms, has announced its financial results for the quarter ended 30th June 2021 (Q1FY22). The company posted a net profit of Rs5.91cr in Q1FY22 compared to Rs5.92cr in the corresponding period of the previous year.
  • The company's operating income stood at Rs32.35cr in Q1FY22 as compared to Rs27.94cr in the corresponding period of the previous year.
  • The company's exports in Q1FY22 was 80.0% (94% in Q1FY21) of the total revenue while the domestic sale was 20% (6% in Q1FY21) which includes the contribution from IVD sales. Read more

Larsen & Toubro bags order from Technip Energies; Stock ends 3% higher

Published on: 3:42 pm

  • The Heavy Engineering arm of Larsen & Toubro has won all order for Oxidation Reactor from Technip Energies-India against stiff global competition.
  • This order for the technologically critical Titanium Clad Reactor is for a Public Sector Petrochemical project for Purified Terephthalic Acid plant.
  • The scope of supply involves Design, Material Procurement, fabrication, inspection and testing of Reactor meeting the Licensors stringent quality requirements. Read more

National Fertilizers stock ends 3% lower after Q1 earnings; Board nods to set up Nano Urea (Liquid)

Published on: 3:38 pm

  • National Fertilizers posted a standalone net loss of Rs4.38cr for the quarter ending June 2021 (Q1FY22) compared to a profit of Rs110.23cr a year ago same period.
  • The company's Q1 loss has widened compared to a loss of Rs3.04cr in the preceding quarter.
  • The company's revenue from operations was at Rs2,632.39cr in the quarter under review, declining from Rs2,831.84cr in Q1FY21 and Rs2,961.17cr in Q4FY21. Read more

EID Parry Q1 PAT shoots 359% yoy to Rs133cr; Stock down 1%

Published on: 3:30 pm

  • EID Parry (India) Limited, one of the largest manufacturers of Sugar in India, has reported financial results for the quarter ended June 30, 2021. The consolidated revenue from operations for the quarter ended June 30, 2021, was Rs4,354cr registering an increase of 5% in comparison to the corresponding quarter of the previous year of Rs4,142cr.
  • Earnings before depreciation, interest, and taxes (EBITDA) for the quarter ended June 30, 2021, was Rs494cr registering an increase of 10% in comparison to the corresponding quarter of the previous year's profit of Rs448cr. Consolidated profit after tax and non-controlling interest was Rs133cr compared to Rs29cr in the corresponding quarter of the previous year, a rise of 359% yoy. Read more

Led by strong sales in Q1FY22, Hero MotoCorp records a 496% yoy rise in PAT to Rs365cr

Published on: 3:30 pm

  • Driven by robust sales, Hero MotoCorp garnered a Revenue from Operations of Rs5,487cr for the quarter ending June 2021 (Q1FY22) against Rs2,972cr in Q1 FY'21. Net Profit for the quarter was at Rs365cr versus Rs61cr in Q1 FY'21 -  a growth of 496% over the same period the previous year.
  • The company posted sales of 10.25 lakh units of motorcycles and scooters in Q1 FY'22, a growth of 81% over the corresponding quarter (April-June) in the previous fiscal (FY'21). Read more

Tata Steel logs net profit of Rs9,768cr in Q1FY22 ; Net debt to EBITDA improves to 1.59x

Published on: 3:22 pm

  • Tata Steel on Thursday recorded a net profit at Rs9,768.34cr, improved 36.4% qoq in Q1FY22.  Total income was up to Rs53,534.04cr during the quarter under review from Rs25,662.43cr a year ago.
  • Consolidated EBITDA increased 13.3% qoq to Rs16,185cr with improved realization across key entities.
  • The stock is currently trading at Rs1,458 up by Rs23 or 1.6% from its previous closing of Rs1,435 on the BSE. The scrip opened at Rs1,414 and has touched a high and low of Rs1,476.90 and Rs1,392.50 respectively. Read more

Mahindra Lifespace Developers stock gains 1% on new residential project launch by subsidiary in Chen

Published on: 3:10 pm

  • Mahindra Lifespace Developers Limited informed the exchanges Thursday that Mahindra Integrated Township Limited, a subsidiary of the Company, has announced the launch of its residential project, ‘Mahindra Happinest’ at the Mahindra World City, Chennai. The said Project is registered with Tamil Nadu RERA.
  • .The company stock was bullish on Friday and Mahindra Lifespace Developers Limited was trading at Rs748.85 up Rs8.00 or 1.08% in the last half hour of trade on Friday. Read more

Metal stocks broadly shining driven by Tata Steel, Ratnamani, Vedanta, Hindalco; Nifty Metal nears r

Published on: 3:05 pm

  • Nifty Metal traded higher on Friday driven by a broad-based buying in major stocks on strong demand and revival in consumption hopes. Also, major quarter earnings have further boosted the index. On the index, 8 scrips advanced and 7 scrips declined currently.
  • At around 3.04 pm, Nifty Metal was trading at 5,805.85 up by 36.60 points or 0.6%. The index has touched an intraday high and low of 5,832.70 and 5,669.90 respectively.
  • Earlier this week due to major earnings that indicated improved production and sales, led the Nifty Metal index was to touch a new lifetime high of 5,905.30. Read more

NMDC records best-ever quarterly results in Q1FY22; Profit jumps 499% yoy to Rs3,193cr

Published on: 3:05 pm

  • NMDC Ltd on Thursday has reported net profit at Rs3,193cr, up 499% in Q1FY22. The profit zoomed during the June quarter of FY22 due to better demand and due to the peaking of international and domestic iron ore prices in the market.
  • During the quarter under review, the company’s total expenses came at Rs2,393cr, jumps 92% you.
  • The company’s EBITDA margins were at 66% with consolidated Ebitda at Rs4,322cr from Rs759cr last year. Read more

ICRA reaffirms ratings on bank facilities of Mahindra and Mahindra

Published on: 2:55 pm

  • ICRA Limited has assigned ratings to the Mahindra and Mahindra Limited’s additional bank facilities and re-affirmed existing ratings. The rating on Non-Convertible Debenture Programme Rs1500cr was reaffirmed at ICRA AAA (Stable). On long-term loans Rs1800.0cr, ICRA AAA (Stable) rating was reaffirmed.
  • For the long term, Non-fund based facilities Rs42.50cr (reduced from Rs57.50cr) ICRA AAA (Stable) rating was reaffirmed. For the short-term, Non-fund Based Facilities Rs400cr (enhanced from Rs350cr) ICRA A1+ rating was reaffirmed. On Commercial Paper Rs1000cr, ICRA A1+ rating was reaffirmed.
  • At around 2.57 pm, Mahindra & Mahindra Ltd was trading at Rs778.75 per piece up by Rs2.6 or 0.33% from its previous closing of Rs776.15 per piece on the BSE. Read more

Friday's Top Bull! Nifty IT hits new lifetime high; Index heavyweights TCS, HCL Tech, Wipro, Infosys

Published on: 2:50 pm

  • Four stocks are all that was needed for making Nifty IT the top bull of Friday. These four stocks are not only highly capitalised in the sector, but also have a healthy growth trajectory going forward. These stocks are - TCS, HCL Tech, Wipro and Infosys. The four stocks today hit a new 52-week high taking Nifty IT at a fresh lifetime high.
  • At around 2.47 pm, Nifty IT is trading at 32,697.15 up by 452.05 points or 1.40%. The index clocked a new all-time high of 32,821.90 earlier today.
  • The index heavyweight TCS which is also the second-largest stock on exchanges after RIL in terms of valuation, was trading near its lifetime high. The stock currently stood the top gainer and skyrocketed by 3.4%. In early trade, the stock had even touched a new 52-week high of Rs3,480 per piece. Read more

CRISIL revises Shyam Metalics' outlook to 'Positive', reaffirms rating

Published on: 2:50 pm

  • CRISIL Ratings has revised its outlook on the long-term bank facilities of Shyam Metalics and Energy Limited (SMEL) to ‘Positive’ from ‘Stable’ while reaffirming the rating at ‘CRISIL AA-‘; the rating on the short-term bank facilities and commercial paper programme of the entity has been reaffirmed at ‘CRISIL A1+’.
  • The outlook revision reflects the improving business risk profile of SMEL and its key subsidiary, Shyam Shyam Sel and Power Limited (SSPL; ‘CRISIL AA-/Positive/CRISIL A1+’); collectively called as the Shyam Metalics group.
  • The ratings continue to consider the Shyam Metalics group’s established market position in the steel sector, well-diversified product profile and customer base. Read more

IRCTC board approves stock split of 1:5 ratio; Logs Q1 PAT of Rs82.5cr

Published on: 2:46 pm

  • The Indian Railway Catering and Tourism Corporation Ltd (IRCTC) board has approved the proposal for stock splits in the ratio of 1:5. The company has announced its financial performance for the quarter ending June 2021 (Q1FY22).
  • Under the stock split, the company will sub-divide one equity share having a face value of Rs10 each, into 5 equity shares having a face value of Rs2 each.
  • IRCTC's rationale for stock splits is to enhance the liquidity in the capital market, widen the shareholder base and make the shares affordable to small investors. Read more

BPCL consolidated profit up 41% in Q1FY22; GRM stood at $4.12 per bbl; stock rises 1%

Published on: 2:44 pm

  • Bharat Petroleum Corporation (BPCL) recorded a consolidated net profit jumped by 41.14% to Rs2872.77cr in the quarter ended June 2021 as against Rs2035.39cr during the previous quarter ended June 2020.
  • The sales also rose 86.70% to Rs70,946.37cr in the quarter ended June 2021 as against Rs37,999.25cr during the previous quarter ended June 2020.
  • BPCL’s gross refining margin (GRM) stood at $4.12 per barrel in the first quarter of the financial year 2021-22 as against $0.39 per barrel in the same quarter of the financial year 2020-21. Read more

B Govindarajan to take the role of CEO at Eicher Motors-led Royal Enfield as Vinod K Dasari exits

Published on: 2:36 pm

  • Eicher Motors has announced a change in its senior leadership as Vinod K Dasari steps down as Chief Executive Officer of Royal Enfield and Executive Director of the Board of the company. The same has come into effect from Friday onward.
  • In its regulatory filing, Eicher said that Vinod’s decision to move is with an intention to dedicate time and energy to pursue his personal passion and ambition in affordable healthcare. He recently set up and inaugurated a not-for-profit hospital in Chennai, and intends to commit his time towards the cause of building affordable and accessible healthcare facilities.
  • With Vinod's exit, B Govindarajan will take on the responsibility of leading Royal Enfield. Effective August 18, he will be inducted as a Wholetime Director on the Board of Eicher Motors Ltd. and will take on as Executive Director - Royal Enfield. Govind has been the Chief Operating Officer at Royal Enfield since 2013. Read more

Market pulse at 2:30 PM today

Published on: 2:30 pm

  • Nifty crosses the 16,500 mark, as Indices are driven by a surge in IT stocks to scale new heights. Sensex crosses 55,400 points.
  • BSE Sensex is currently 55,404.36 up 560.38 points or 1.02%.
  • Nifty50 is currently 16,515.00 up 150.60 points or 0.92%. Nifty Bank is 36,0171.55, up 0.65%. Mid-cap Index is down by 0.54%. Read more

Unichem Lab receives USFDA approval for Metformin Hydrochloride Extended-Release tablets

Published on: 2:26 pm

  • Unichem Laboratories Limited announced that it has received ANDA approval for its Metformin Hydrochloride Extended-Release Tablets USP, 500 mg and 750 mg from the United States Food and Drug Administration (USFDA) to market a generic version of Glucophage XR Tablets, 500 mg and 750 mg, of EMD Serono Inc.
  • Metformin Hydrochloride Extended-Release Tablets are indicated as an adjunct to diet and exercise to improve glycemic control in adults with type 2 diabetes mellitus. Read more

OnMobile Global buys 100% Stake in AI-Powered visual retention leader, rob0

Published on: 2:21 pm

  • OnMobile Global Limited (“OnMobile”), announced the 100% acquisition of rob0, through its subsidiary OnMobile Global Solutions Canada Ltd. This investment is in continuation to the initial acquisition of a 25% equity stake in May 2020.
  • rob0 (incorporated in Feb 2019) offers a best-in-class patent-pending Vision AI technology. The platform gathers, analyses and provides smart insights that help to clearly understand user behaviour, optimise gameplay and increase player retention.
  • This investment by OnMobile, is the second major step towards the creation of ONMO, the D2C mobile cloud-gaming platform, after the acquisition of Appland AB, Sweden in October 2018. These strategic acquisitions lay the foundation of technologies that form the pillars of ONMO. Read more

Matrimony.com reports a strong start to FY22; Net profit growth of 47.6% yoy

Published on: 2:15 pm

  • Matrimony.com Limited, the leading online matrimony company, announced its unaudited standalone and consolidated financial results for the first quarter ended June 30, 2021, as approved by its board of directors. Read more

Zydus Cadila receives USFDA final nod for Mesalamine extended-release capsules

Published on: 2:14 pm

  • Zydus Cadila has received final approval from the USFDA to market Mesalamine Extended-Release Capsules in the strength of 0.375 g, (US RLD: Apriso).
  • Mesalamine Extended-Release capsules are indicated for the maintenance of remission of ulcerative colitis in adults.
  • The drug will be manufactured at the group’s formulation manufacturing facility at the SEZ, Ahmedabad. Read more

DCB Bank offers 7.11% p.a. annualised yield on 3 years' Fixed Deposit

Published on: 2:06 pm

  • DCB Bank offers a limited period attractive interest rate of 7.11% per annum annualised yield on a 3-year Fixed Deposit. This lucrative interest rate is valid on Fixed Deposits booked on or before August 16, 2021.
  • DCB Bank Ltd is currently trading at Rs91.60 down by Rs0.35 or 0.38% from its previous closing of Rs91.95 on the BSE.
  • Fixed Deposits are a favourable investment tool for savers that offers security and liquidity at one go. Such a compelling interest rate with DCB Bank FD is a smart investment tool. A customer can book a DCB Bank FD either by visiting the branch, connecting with their respective relationship manager or online using the website or mobile application. Read more

RDIF, Wockhardt partner to produce Sputnik V and Sputnik Light vaccines against Covid-19

Published on: 2:01 pm

  • The Russian Direct Investment Fund (RDIF, Russia’s sovereign wealth fund), and Wockhardt Limited, a global pharmaceutical company headquartered in India, have partnered to produce and supply Sputnik V and Sputnik Light vaccines against COVID-19.
  • The agreement was reached under the aegis of Enso Healthcare (part of Enso Group), RDIF's coordination partner for sourcing Sputnik V vaccines in India.
  • To date, the Sputnik V vaccine has been registered in 69 countries globally with a total population of over 3.7 billion people. The data obtained by regulators of a number of countries during the vaccination of the population, including Argentina, Serbia, Bahrain, Hungary, Mexico, San Marino, UAE and others, demonstrates that Sputnik V is one of the safest and most effective vaccines against coronavirus. Read more

Aptus Value Housing Finance India issue subscribed 17.20 times on the final day

Published on: 1:47 pm

  • Aptus Value Housing Finance India Limited has received bids of 94,82,42,442 shares against the offered 5,51,28,500 equity shares, as per the 5:00 pm data available on the bourses.
  • The Qualified Institutional Buyer category was subscribed 32.41 times; the Non-Institutional Investor category was subscribed 33.91 times. The portion reserved for retail investors was subscribed 1.35 times.
  • The Offer comprises of fresh issuance of Equity Shares, aggregating up to Rs5000 million and an offer for sale of Equity Shares aggregating up to 64,590,695 Equity Shares by the Selling Shareholders. Read more

Market pulse at 1:30 PM today

Published on: 1:30 pm

  • BSE Sensex is currently 55,334.46 up 490.48 points or 0.89%.
  • Nifty50 is currently 16,496.40 up 132.00 points or 0.81%.
  • Nifty Bank is 36,075.90, up 0.39%. Mid-cap Index is down by 0.54%. Read more

Key factors behind bull run on D-Street; Sensex hit 55,300-mark for first time; Nifty nears 16,500

Published on: 1:27 pm

  • Benchmark indices are showing no signs of fatigue as the Nifty raced to another record close today. The market hit a record high with the benchmark BSE Sensex crossing the physiological mark for the first time. The stock market extended rally and trading at day's high level with Nifty around 16500. Investors sentiment improved after India’s retail inflation fell below the Reserve bank of India (RBI)s threshold of 6% in July 2021.
  • The Sensex was up 477 points or 0.87% at 55,321 and the Nifty was up 122 points or 0.75%. Overall, 30 shares were trading in green in the Nifty50 index, while 20 were trading in red.
  • Here are the top factors behind the rally in Sensex and Nifty today. Read more

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