Live market updates

17th Aug, 2021

HCL Technologies wins Five-Year IT Transformation Deal with Wacker Chemie AG

Published on: 5:25 pm

  • HCL Technologies (HCL), a leading global technology company, has signed a five-year, end-to-end IT transformation services deal with Wacker Chemie AG, a German multinational chemical company, to establish a modernized digital workplace and improve its quality-of-service delivery.
  • Spanning the globe with four business divisions, Wacker currently operates 26 production sites. Wacker’s engagement with HCL will lead to significant cost efficiencies through modernization, standardization and automation. HCL will be using AI-enabled virtual assistants to drive efficiencies for Wacker. Read more

SpiceJet to transfer logistics business to SpiceXpress; Stock ends 4.5% higher

Published on: 5:10 pm

  • SpiceJet, India’s favourite airline and the leading logistics platform, has announced the transferring of its cargo and logistics services on a slump sale basis along with all related assets and liabilities, including, know-how, trademark, licenses, franchises, customer contracts, distribution network etc. to its subsidiary SpiceXpress and Logistics Pvt. Limited.
  • As per the last quarterly segment reporting by the Company ended June 30, 2021, the logistics arm continued with its strong growth story reporting yet another profitable quarter with a Net Profit of Rs30cr. Read more

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OM Infra ends higher after its subsidiary's residential project in Jaipur receives extension

Published on: 4:55 pm

  • OM Infra Limited informed the exchanges Tuesday that Om Metals Consortium Private Limited, the wholly-owned subsidiary of the Company, has been granted a one-year extension up to May 17, 2022, for its Residential Group Housing project “Pallacia“ in Jaipur (Rajasthan) for occupancy completion by Rajasthan Real Estate Regulatory Authority, Jaipur (RERA) in continuation of structure completion approved by JDA. Read more

Caplin Point Lab's subsidiary receives nod from Brazil's ANVISA for sterile injectable manufacturing

Published on: 4:48 pm

  • Caplin Point Laboratories on Tuesday announced that its subsidiary Caplin Steriles has received approval from Brazil’s National Health Surveillance Agency ANVISA (Agência Nacional de Vigilância Sanitária) for its sterile injectable manufacturing site near Chennai, Tamilnadu.
  • The approval grants access to the company to register and market its products in Brazil, the largest Pharmaceutical market in Latin America.
  • C. C. Paarthipan, Chairman of Caplin Point Laboratories Limited commented, “Brazil is an important target for Caplin Steriles’ mid to long term expansion plans. As a first step, we will focus on extending our US approved products for Brazil.” Read more

NIIT IFBI bags ‘Training & Education Excellence Award’ at the BFSI Excellence Awards 2021

Published on: 4:47 pm

  • NIIT Institute of Finance Banking and Insurance (NIIT IFBI) - a subsidiary of NIIT Limited, has won the ‘Training & Education Excellence Award’ at the Quantic India 3rd Annual BFSI Excellence Awards 2021.
  • The award was received by Gaurav Nigam - SVP & Business Head Enterprise Business, NIIT Ltd., and Ruchi Goel, Head Key Accounts and Solutions- BFSI, NIIT Ltd., at a recent ceremony organized in Mumbai, India.
  • Speaking on the award Bimaljeet Singh Bhasin, President, Skills and Careers Business, NIIT Ltd. said, “We are delighted to receive the ‘Training & Education Excellence Award’ for NIIT IFBI at Quantic India’s 3rd Annual BFSI Excellence Awards 2021. Read more

Infosys to make additional investment in TidalScale taking its total to $3.45M; Stock ends 2% higher

Published on: 4:45 pm

  • Infosys has agreed with TidalScale Inc, a leading software-defined-server technology startup, to invest an additional sum of US$ 0.45 million (till date, the Company had invested US$ 3.0 million) taking the cumulative investment to US$ 3.45 million as of date), subject to necessary closing conditions.
  • TidalScale’s software helps enterprises to virtualize server for faster deployment with reduced cost and improved in-memory compute performance in private/public/hybrid cloud environment.
  • Infosys said that this investment is intended to be utilized for R&D, business development and working capital needs. Read more

Shalimar Paints Q1 net loss widens to Rs19.5cr in Q1FY22; Stock ends 4% up

Published on: 4:42 pm

  • Shalimar Paints posted a net loss of Rs19.5cr in the quarter ending June 2021 (Q1FY22) period - that widened compared to a loss of Rs10.6cr in the same quarter last year. However, Q1 loss narrowed against a loss of Rs28.6cr in the preceding quarter.
  • The company recorded revenue of Rs65.2cr in Q1FY22 rising from Rs44.5cr in Q1FY21 but lower from Rs111.7cr in Q4FY21.
  • Ashok Gupta, Managing Director, Shalimar Paints said, “It has been challenging year and company has witnessed a disruption that had a devasting impact on the Company’s performance. Despite the initial phase of reopening of the economy, the unforeseen challenges & crisis of 24 wave of COVID-19 hit the pause button again." Read more

PFRDA crosses the mark of 30 lakh non-govt subscribers under NPS

Published on: 4:40 pm

  • The Pension Fund Regulatory and Development Authority (PFRDA) announced on Tuesday that it has reached the milestone of 30 lakh voluntary subscribers under the National Pension System (NPS) over a period of 12 years. The growth in NPS subscribers has been remarkable, with 75.32 lakhs employees joining the scheme from the government sector (Central and State Governments) and 30.03 lakhs individuals from the non-government sector (all citizen and corporate model). More than 9100 entities or employers have already adopted NPS for its employees.
  • PFRDA has been introducing various initiatives to make the system seamless, from entry to exit in National Pension System. Read more

Tata Motors ties with Bank of Maharashtra to offer an attractive financing scheme on Passenger Vehic

Published on: 4:39 pm

  • Tata Motors and Bank of Maharashtra have joined hands to make available the ‘Maha Super Car Loan scheme” to all its customers. As part of the tie-up, the Bank of Maharashtra will provide loans to Tata Motors’ customers at an interest rate starting from as low as 7.15% linked with Repo Linked Lending Rate (RLLR), subject to certain conditions.
  • Rajan Amba, Vice president, Sales, Marketing & Customer Care, PVBU, Tata Motors said, “Given the ramifications of the second wave of the pandemic, we, at Tata Motors, have always tried to make our personal mobility solutions more affordable and accessible for individuals and families at beneficial rates. Read more

NSE Indices launches Nifty India Manufacturing Index to track stocks engaging in manufacturing activ

Published on: 4:37 pm

  • The National Stock Exchange (NSE)-led index services, NSE Indices Limited launched a new index – Nifty India Manufacturing Index. The launch of Nifty India Manufacturing index provides a targeted coverage to stocks engaging in manufacturing activities.
  • In a statement, NSE Indices said that the Nifty India Manufacturing Index aims to track the performance of stocks that represent manufacturing sectors in India. The stocks are selected from a combined universe of Nifty 100, Nifty Midcap 150 and Nifty Smallcap 50 index. A stock’s weight in the Nifty India Manufacturing index is based on its free-float market capitalization subject to maximum weight of each stock at 5%. Read more

Indiabulls Real Estate files NCLT application to merge with Embassy arms

Published on: 4:35 pm

  • Indiabulls Real Estate said in the regulatory filing that it has filed the requisite joint application with the jurisdictional bench of NCLT, for its approval to the Scheme of Merger.
  • Earlier, the company received Competition Commission of India’s (CCI’s) approval for a merger of NAM Estates Private Limited (“NAM Estates”) and Embassy One Commercial Property Developments Private Limited (Embassy One”), both Embassy group entities with Indiabulls Real Estate Limited. Read more

Dilip Buildcon arm Dhrol Bhadra Highways receives financial closure for road project in Gujarat from

Published on: 4:33 pm

  • Dhrol Bhadra Highways Private Limited, a wholly-owned subsidiary of Dilip Buildcon Limited has received the financial closure letter dated August 17, 2021, from the National Highways Authority of India for the below-mentioned project.
  • The project is Four Laning of Dhrol – Bhadra Patiya section of NH-151A and Bhadra Patiya – Pipaliya Section of NH-151A in Gujarat through Public-Private Partnership (PPP) on design, build, operate and transfer (the ‘DBoT Annuity’ or ‘Hybrid Annuity’) basis.
  • Dilip Buildcon Ltd trade on Tuesday ended at Rs511.50 per piece up by Rs2.15 or 0.42% from its previous closing of Rs509.35 per piece on the BSE. Read more

SVP Global Group invests $150M to start commercial operations at its Textile plant in Oman

Published on: 4:24 pm

  • SVP Global Ventures Ltd, India's largest compact cotton yarn manufacturer has announced commercial operations for its mega textile plant in Oman.
  • The Group has invested USD 150 million (around Rs1,100cr) in setting up 1.5 lakh spindles and 3,500 rotors facility at Sohar Free Trade Zone in Oman.
  • The plant is expected to reach peak utilisation by Sep 21 and expected to contribute hugely in overall revenue of the company. Read more

Promoter Group Arbutus increases stake in RattanIndia Enterprises

Published on: 4:20 pm

  • RattanIndia Enterprises Limited promoter group entity Arbutus Consultancy LLP has acquired a total of 7,50,000 equity shares of the company, from the market, taking its individual holding from 38,33,62,902 equity shares to 38,41,12,902 equity shares.
  • The said acquisition leads to an increase in the aggregate Promoter holding in the Company from 103,32,36,772 equity shares constituting 74.749 % of the total paid-up equity capital of the Company, to 103,39,86,772 equity shares constituting 74.803% of the total paid-up equity capital of the Company. Read more

Manjushree Technopack to acquire Classy Kontainers

Published on: 4:08 pm

  • Advent International Backed Manjushree Technopack Limited (MTL), India’s largest rigid-plastics packaging company, today announced that it is entering into a Business Transfer Agreement with Classy Kontainers  to acquire its commercial operations and manufacturing facilities subject to customary closing conditions and regulatory approvals.
  • The proposed acquisition will help MTL consolidate its position as a leader in the segment while reinforcing its technical strength. MTL will have access to all production units of Classy Kontainers - located in 5 cities and serve the latter’s existing marquee clientele in the Paints, Adhesives Speciality Chemicals and FMCG segments. Read more

Indian home textile exporters to clock 20-25% growth with healthy margins in FY22: ICRA

Published on: 4:04 pm

  • Riding high on pandemic-induced lifestyle changes stemming from heightened consciousness about hygiene and increased prevalence of stay-at-home options, Indian home textile exporters are set to register robust performance during FY22. These factors have driven a sharp surge in demand for home improvement products over the past one year, and the demand momentum is expected to sustain during Q2-Q4 FY22, continuing on the trend of the past three quarters.
  • ICRA’s sample set of  companies (comprising four large, listed players, accounting for ~35-40% share in India’s home textile exports) are projected to clock a robust double-digit growth of ~20-25% in FY2022. Read more

Tatva Chintan Pharma Chem Q1 PAT jumps 245% to Rs23.15cr; Stock ends 2% higher

Published on: 4:03 pm

  • Tatva Chintan Pharma Chem Limited, one of India’s leading specialty chemical manufacturing companies with a diverse product portfolio, has announced its financial results for the quarter ended June 30, 2021. Profit After Tax jumped 244.95% yoy to Rs23.15cr in Q1FY22 as compared to Rs6.7cr in Q1FY21.
  • The company’s total revenue stood at Rs109.8cr in Q1FY22 as compared to Rs51.7cr in Q1FY21, a growth of 112.38% yoy. EBITDA (incl. other income) at Rs28.8cr in Q1FY22 as compared to Rs10.5cr in Q1FY21, a growth of 173.96% yoy.
  • EBITDA (incl. other income) Margins were at 26.23% in Q1FY22 as compared to 20.33% in Q1FY21, a growth of approx. 590 bps yoy. Read more

Larsen & Toubro Infotech bags Golden Peacock National Quality Award 2021

Published on: 3:59 pm

  • Larsen & Toubro Infotech, a global technology consulting and digital solutions company has been awarded the Golden Peacock National Quality Award 2021. The award recognizes LTI’s consistent endeavour to deliver excellence while maintaining optimum quality benchmarks.
  • Golden Peacock Awards, instituted by the Institute of Directors (IOD), India in 1991, is considered to be among the coveted awards for corporate excellence worldwide. Golden Peacock National Quality Award (GPNQA) scheme has been instituted to encourage Total Quality improvements in both manufacturing as well as service organizations in India. GPNQA is presented to organizations in different industrial sectors, adjudged to have made the most significant achievement in the field of Total Quality. Read more

Zydus Cadila receives tentative approval from USFDA for Lenalidomide Capsules

Published on: 3:55 pm

  • Zydus Cadila has received tentative approval from the USFDA to market Lenalidomide Capsules in the strengths of 2.5 mg, 5 mg,10 mg, 15 mg, 20 mg, and 25 mg. (USRLD: Revlimid).
  • Lenalidomide is used to treat various types of cancers. It works by slowing or stopping the growth of cancer cells. It is also used to treat anemia in patients with certain blood/bone marrow disorders (myelodysplastic syndromes-MDS).
  • The drug will be manufactured at the group’s formulation manufacturing facility at the SEZ, Ahmedabad, the company said. Read more

Inderjeet Monga resigns as Chief Financial Officer and KMP at Satia Industries

Published on: 3:47 pm

  • Satia Industries has informed that the Board of Directors has accepted the resignation of Inderjeet Monga, AGM (Account) CFO and KMP w.e.f September 4, 2021.
  • In his resignation letter, Inderjeet Monga said, "Please accept this as my formal resignation from Satia Industries Limited. My last day will be 04-09-2021. Read more

IEX announces that Uttar Pradesh Industry can now procure power at attractive prices through the Pow

Published on: 3:44 pm

  • Indian Energy Exchange Ltd. informed the exchanges Tuesday that In a significant development, the Uttar Pradesh Electricity Regulatory Commission in its recent tariff order dated July 29, 2021, for the financial year 2022 has announced the reduction of up to 64 paise per unit in the cross-subsidy charges procuring power through Power Exchanges.
  • Today, over 75 consumers in Uttar Pradesh source electricity leveraging the Exchange platform. The competitive power prices have been helping industries optimize their electricity procurement costs, thereby, leading to increased operational and financial efficiency since electricity contributes the major share of input costs for the industries. Read more

RBI introduces Financial Inclusion Index without any base year - Key highlights

Published on: 3:37 pm

  • The Reserve Bank of India (RBI) on Tuesday said that it has constructed a composite Financial Inclusion Index (FI-Index) to capture the extent of financial inclusion across the country.
  • As per the RBI statement, the FI-Index has been conceptualised as a comprehensive index incorporating details of banking, investments, insurance, postal as well as the pension sector in consultation with the Government and respective sectoral regulators.
  • The index captures information on various aspects of financial inclusion in a single value ranging between 0 and 100, where 0 represents complete financial exclusion and 100 indicates full financial inclusion. Read more

Markets close higher; IT stocks Outperformed

Published on: 3:32 pm

  • Markets witnessed a positive day of trade, with the benchmark index closing on record highs, led by a fresh buying momentum.
  • Nifty outperformed the Bank Nifty index by ~1% with the former index closing in the green while the later closing lower.
  • IT Stocks like TCS, HCL Tech & Infosys led to the outperformance of the IT index, as the stocks closed around the intraday highs along with an addition of fresh long positions. Read more

Venus Remedies Q1 net profit records 629.5% yoy increase due to robust sales

Published on: 3:28 pm

  • Riding on the remarkable execution of its sales and logistics strategies, Venus Remedies Ltd, one of India’s leading research-driven pharmaceutical companies, has posted a sevenfold increase in net profit in the first quarter of this financial year as compared to the corresponding period last year.
  • Announcing its unaudited financial results for the quarter ending June 30, Venus Remedies stated that its net profit recorded an increase of 629.5%, rising to Rs 14.59 crore in the first quarter of FY 2021-22 from Rs 2.00 crore in the corresponding quarter of the previous year.
  • Likewise, the company’s net profit percentage to total revenue grew from 1.11% to 10.51% and the EBIDTA percentage to revenue from 12.41% to 15.55%, reflecting impressive fast-paced growth. Read more

IRCTC stock gains on announcing attractive travel offers for festive season

Published on: 3:27 pm

  • Indian Railway Catering And Tourism Corporation Limited (IRCTC Ltd) on Tuesday announced an exclusive cashback of 5% on train fare to all-female passengers travelling on its two premium trains during the period between 15th and 24th August 2021.
  • The new offer is to celebrate the auspicious festival of Rakshabandhan.
  • As per the regulatory filing, the cashback will be applicable only for the journeys performed during the offer period irrespective of the number of times and will be credited to the same account through which the tickets have been booked. Read more

Godawari Power bags approval to expand iron ore mine capacity to 2.35 MTPA in Chattisgarh

Published on: 3:14 pm

  • Godawari Power & Ispat has received Consent to Operate from Chhattisgarh Environment Conservation Board for expanding Iron Ore Mine of the capacity to 2.35 Million Tonnes per year along with other associated activities.
  • Currently, the company's iron ore production is 1.405 MTPA.
  • The permission is given within the existing mining lease area of 138.96 Ha. at VillageKachche, Tehsil Bhanupratappur, District Uttar Bastar (Kanker), Chhattisgarh. Read more

Vedavaag Systems selected as business correspondent by Punjab National Bank for financial inclusion

Published on: 3:13 pm

  • Vedavaag Systems Ltd has informed that the company is selected by Punjab National Bank for empanelment as Business Correspondent for implementing financial inclusion services for the bank.
  • Vedavaag Systems, Hyderabad, is a National Business Correspondent for SBI, Baroda UP Bank, Bank of Baroda with about 3092 CSP outlets.
  • Vedavaag CSPs delivered a service volume of over 2.5cr transactions per annum with a gross transaction value (GTV) of about Rs9714cr for FI 2020-21. Vedavaag’s CSP network is targeted to reach about 4000 outlets by the end of current fiscal year. Read more

Nifty Auto recovers losses and trades flat; Bajaj Auto leads while Tata Motors emerges top bears

Published on: 3:00 pm

  • Nifty Auto stocks recovered losses in the second half of Tuesday's trading session and were trading flat amid volatile markets. Tata Motors sank over 2% while Bajaj Auto surged 1.25%. The Nifty Auto Index after slipping below 1% in the early trade today, recovered and  was performing at 10,055.25 lower by 33.55 points or 0.33% at around 3.00 pm. The index has touched a high of 10,100.45 and low of 9,963.25 during intraday trade.
  • Domestic equities were volatile today. BSE Sensex hit a new all-time high of 55,688.5 and Nifty50 16,591 levels, before turning bearish. It recovered losses in the last hour of trade and BSE Sensex was trading at 55,692.51 up 109.93 points or 0.20% and Nifty50 at 16,579.55 up 16.50 points or 0.1%. Read more

Nifty FMCG tops 445 pts as majority stocks witness bullish tone; Jubilant Foodworks, Tata Consumer h

Published on: 2:56 pm

  • FMCG stocks were on a bullish tone on Tuesday led by broad-based buying. Nifty FMCG index was among the top gainers with heavyweights Hindustan Unilever (HUL), Nestle, Britannia, Emami and Godrej Consumer witnessing a stellar performance. Jubilant Foodworks and Tata Consumer touched new highs.
  • The FMCG index has been in the fast lane when both CPI and WPI inflation eased. The food prices have recorded a steep fall in July 2021 as well.
  • At around 2.56 pm, Nifty FMCG was trading at 37,399.90 up by 445.65 points or 1.21%. The index has touched a new 52-week high of 37,417.40 earlier today. Read more

Salasar Techno Q1 PAT at Rs7.26cr; stock dip marginally

Published on: 2:54 pm

  • Salasar Techno Engineering – one of the largest steel fabrication and infrastructure companies in India has reported a consolidated net profit to Rs7.26cr in the quarter ended June 2021. On account of COVID-19 lockdown, the company’s performance in Q1 FY 21 was severely impacted.
  • Further, the company’s operations were impacted again due to the second wave of COVID-19 during the quarter ended 30 June 2021, yet the company was able to generate profits better than the previous year.
  • The company has posted net sales of Rs132.8cr in the first quarter of FY22. The company has recorded a 110% YoY growth in net sales as compared to Rs63.2cr posted by the company for the corresponding period last year. Read more

Steel Strips board to mull stock split on Sept 3; stock hits 5% upper circuit

Published on: 2:49 pm

  • Shares of Steel Strips Wheels hit an upper circuit on the BSE in an otherwise volatile market. The stock came into the limelight after the company board consider stock split on September 3.
  • "A meeting of the board of directors of the company is scheduled to be held on September 3, 2021, to consider and approve the sub-division/split of the equity shares of the face value of Rs10 each of the company," the company said in the filing.
  • Further, pursuant to the provisions of the company’s code for prevention of Insider Trading and the circular issued by the Stock Exchanges, the Trading window for dealing in the securities of the Company has been closed with effect from August 17, 2021 and would remain closed until 48 hours after the announcement of the above said matter to the public, the company said. Read more

Goodluck India completes expansion of Auto Tube Division; Stock under pressure

Published on: 2:38 pm

  • Goodluck India Ltd has informed that the expansion of Auto Tube Division has been completed.
  • Identifying the huge potential of Cold Drawn Welded Tubes (CDW) in the Automobile Sector in the domestic as well as overseas market.
  • The Company has enhanced its production capacity by nearly 25 %, i.e. around 10,000 MTPA for its Auto Tube Division. Read more

Market pulse at 2:30 PM today

Published on: 2:30 pm

  • Indices led by IT stocks are marginally higher; Metal stocks drag.
  • BSE Sensex is currently 55,646.59 up 64.01 points or 0.12%. Nifty50 is currently 16,572.50 up 9.45 points or 0.06%. Nifty Bank is 35,741.50, down 0.98%. Mid-cap Index is down by 0.61%.
  • Tech Mahindra, Tata Consumer, Wipro, TCS, and Infosys are the top gainers. Tata Motors, Coal India, Mahindra & Mahindra, JSW Steel, and ONGC are the top losers Read more

Stove Kraft receives certificate of recognition of One Star Export House

Published on: 2:19 pm

  • Stove Kraft Limited has informed that the Company has been granted Status of "One Star Export House" in accordance with the provisions of the Foreign Trade Policy, 2015- 2020 by Directorate General of Foreign Trade, Ministry of Commerce & Industry for the period of 5 years.
  • The Certificate of Recognition of One Star Export House dated August 13, 2021 is valid for a period of 5 years effective from August 12, 2021 to August 12, 2026.
  • Stovekraft is an Indian company that manufactures cooking appliances under Pigeon and Gilma brands. Read more

Mold-Tek Packaging approves allotment of shares; Stock trades flat

Published on: 2:14 pm

  • Mold-Tek Packaging Limited Committee at their meeting held on August 16, 2021, has considered and approved the allotment of 17,550 fully paid-up Equity Shares of the company of face value of Rs5/· each upon conversion of detachable warrants at a price of Rs184/· per detachable warrant (comprising or Face value of Rs5 along with the premium of Rs179/· per equity share, being the full amount paid on detachable warrants on voluntary basis).
  • At around 2.20 pm, Mold-Tek Packaging Ltd was trading at Rs496.10 per piece up by Rs0.75 or 0.15% from its previous closing of Rs495.35 per piece on the BSE. Read more

Broad-based buying seen in Nifty Pharma, index gains near 1%; Cipla, Divis Lab, Torrent Pharma in le

Published on: 1:50 pm

  • Bulls finally took charge of Nifty Pharma with the index climbing by at least 1% led by a broad-based buying. The index took a positive turn after being under pressure for the past couple of days. Traders are upbeat on the index as India's vaccination drive speeds up.
  • At around 1.48 pm, the Nifty Pharma index was trading at 14,057.90 up by 92.50 points or 0.66%. The index has touched an intraday high and low of 14,118.80 and 13,969.75.
  • Torrent Pharma was the top gainer soaring over 2.5% followed by Cipla and Divis Lab surging more than 1% each. Read more

Suven Life Sciences announces Phase 3 Clinical Trial of Masupirdine to treat agitation and aggressio

Published on: 1:47 pm

  • Suven Life Sciences has announced that its potent, selective, brain penetrant and orally active, novel chemical entity, NCE SUVN-502 (Masupirdine) has planned initiation of global Phase 3 clinical trial for the treatment of Agitation and aggression in Alzheimer’s type dementias with an expected enrollment of patients from the middle of September 2021.
  • As per the regulatory filing, this multi-centre study (sites in the US and Europe) comprising about 387 patients is likely to be completed in about 36 months and the topline result is expected by the end of the year 2024.
  • “Progression of SUVN-502 (Masupirdine) into Phase 3 clinical development is a significant achievement and milestone in enhancing our clinical pipeline. Our lead molecules address niche areas of cognitive impairment associated with neurodegenerative disorders”, said Venkat Jasti, CEO of Suven Life Sciences. Read more

Fiem Industries sole supplier of various products to Ola Electric; Stock hits 20% upper circuit

Published on: 1:44 pm

  • Fiem Industries has announced that the company is a sole Supplier to Ola Electric for Head Lamps, Tail Lamps, Indicators, Rear Fender Assembly and Mirrors.
  • The announcement comes after Ola Electric Mobility Pvt. Ltd. (Ola Electric) publicly launched Scooter $1 and $1 Pro’s.
  • In its regulatory filing, Fiem said that "in addition to other existing EV clients of ours, this is a landmark client addition for us and we are excited and fully prepared to cater all demands of Ola Electric in the future." Read more

Delta Corp resumes operations of Casino in Sikkim; Stock jumps 2.5%

Published on: 1:39 pm

  • The Government of Sikkim has allowed the reopening of the Casinos in the State. This comes as good news for Delta Corp who operates casinos in the place along with its subsidiaries.
  • In its regulatory filing, on Monday, Delta Corp said that the Company and/or its subsidiary operating the Casino in the state of Sikkim will resume its operations from August 16, 2021, and will follow all the safety norms laid down by the state in this regards.
  • At around 1.38 pm, Delta Corp is trading at Rs180.20 per piece up 2.5% on Sensex. Read more

Lupin bags tentative approval from USFDA for Brivaracetam Tablets; Stock gains

Published on: 1:36 pm

  • Pharma major, Lupin has received tentative approval from the United States Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA) Brivaracetam Tablets, 10 mg, 25 mg, 50 mg, 75 mg, and 100 mg, to market a generic equivalent of Briviact Tablets, 10 mg, 25 mg, 50 mg, 75 mg, and 100 mg, of UCB Inc.
  • This product will be manufactured at Lupin’s Nagpur facility in India.
  • Brivaracetam Tablets are indicated for the treatment of partial-onset seizures in patients four years of age and older. Read more

Compuage Infocom to be Value Added Distributor of EPPS Infotech

Published on: 1:35 pm

  • Compuage Infocom Ltd has informed that the Company is now a Value Added Distributor of EPPS Infotech Private Limited to provide Enterprise Resource Planning (ERP) Solutions by expanding the portfolio and to drive growth for channel partners.
  • Established in 2011 and based in Pune, Maharashtra, EPPS Infotech is an IT / Technology Services business entity that provides various ERP softwares.
  • It is one of the leading businesses in the ERP Computer Software Developers and acts as a one-stop destination servicing customers. It is also known for inventory management computer software dealers. Read more

Market pulse at 1:30 PM today

Published on: 1:30 pm

  • BSE Sensex is at 55,530.27 down 52.31 points or 0.09%.
  • Nifty50 is at 16,532.10 down 30.95 points or 0.19%. Nifty Bank is 35,706.95, down 1.07%. Mid-cap Index is down by 0.89%.
  • Tech Mahindra, Tata Consumer, HCL Tech, Infosys, and Wipro are the top gainers. Tata Motors, JSW Steel, Coal India, UPL, and Adani Ports are the top losers Read more

Hero MotoCorp earmarks over 1 lakh units of retail sales on a single day on Aug 09

Published on: 1:29 pm

  • Two-wheeler giant, Hero MotoCorp has garnered more than one lakh units of motorcycles and scooters in retail sales in a single day on August 9th, coinciding with the 10th anniversary of the Company.
  • Naveen Chauhan, Head of Sales & After-Sales, Hero MotoCorp said, “This kind of retail sales on a single day in a non-festive period is unprecedented. The completion of 10 years of our journey on August 9th is a significant milestone at Hero MotoCorp. Our customers have reiterated their faith and trust on us by celebrating the ‘Hero Day’ of August 9th, purchasing our range of products in massive numbers, enabling us to set this record of retail sales on a single day.”
  • The retail sales included the sales in the domestic market of India and global markets around the world – and is a record number of actual sales to customers in a non-festive period. Read more

TCS stock hits new 52-week high, market cap crosses over Rs13 lakh cr mark

Published on: 1:23 pm

  • Tata Group-backed, Tata Consultancy Services (TCS) was in the fast lane on stock exchanges during Tuesday's trading session. The month of August has turned into an upbeat for TCS stock as it continued to extend its record highs and contributed further to the sectoral gains.
  • On Tuesday, TCS market capitalisation crossed over the Rs13 lakh cr mark and also touched yet another new 52-week high.
  • At around 1.20 PM, TCS was trading at Rs3525 per piece skyrocketing by Rs53.25 or 1.5% on Sensex. At the current market price, TCS had a market valuation of over Rs13.04 lakh cr. Read more

Nifty Metal declines more than 2% amid volatile trade; Vedanta sinks over 7%, JSPL, NMDC, SAIL, Coal

Published on: 1:15 pm

  • From top performance on the previous day, the Nifty Metal stocks pulled back in the red on Tuesday led by broad-based selloff amid volatile trade. The Index shed over 2% after a flat start on Tuesday. Vedanta sank over 7% while Jindal Steel dropped more than 3%. APL Apollo surged over 1% to buck the trend in the sector which had 13 declines and Ratnamani trading flat.
  • Metal stocks have been gaining momentum amid a rally in steel prices along with rising demand and an improved outlook for the sector. The Nifty Metal index gained at by 2% oon Monday and even surged to a record high level with Tata Steel, Vedanta, JSW Steel, Hindustan Zinc, Hindalco supporting the index. Read more

Edelweiss Financial allots over 1.40 lakh equity shares under Employee Stock Incentive Plan

Published on: 1:11 pm

  • Edelweiss Financial Services Ltd has informed that the Share Allotment Committee on August 16, 2021, allotted 1,40,425 Equity Shares of the face value of Re. 1 each under Edelweiss Employee Stock Incentive Plan (s) of the Company.
  • At around 1:10 PM, Edelweiss Financial Services was trading at Rs83.80 apiece up by Rs2.2 or 2.7% from its previous closing of Rs81.60 apiece on the BSE. Read more

Globalspace Technologies slips 2% post Q1FY22 result

Published on: 12:58 pm

GlobalSpace Technologies Limited, one of the leading HealthTech and EduTech digital platform provider, has announced results for the first quarter ended on June 30,2021.

  • PAT: Rs76.59 Lakhs
  • Revenues: Rs443.64 Lakhs Read more

ICRA upgrades credit ratings on bank facilities of HLE Glascoat; Stock trades higher

Published on: 12:45 pm

  • ICRA - the Credit Rating Agency has upgraded the rating of HLE Glascoat Limited to A (for long-term facilities) and A2+ (for short-term facilities) with a stable outlook on Rs147.84cr Bank Facilities and Enhancement of Rs8.01cr Bank Facilities.
  • “ICRA, after due consideration, has upgraded the long term rating at ICRA A from ICRA BBB+ and short term rating at ICRA A2+ from ICRA A2 outstanding on the Rs147.84cr bank facilities of your company and has assigned a long-term rating of ICRA A and a short-term rating of ICRA A2+ to the captioned bank facilities of Rs8.01cr. Read More

The Economic Times issues Certificate of Excellence to HKG; Stock jumps 4%

Published on: 12:32 pm

  • HKG Limited has informed that The Economic Times (The Times Group) under its banner/event of PIONEERS 2021 has issued the Certificate of Excellence to HKG Limited.
  • The certificate is issued for “exceptional work and being a pioneer in the field of Digitalizing of Retail Sector”.
  • At around 12:30 PM, HKG was trading at Rs61.20 per piece higher by 3.90% on Sensex.
  • Previously, the scrip finished at Rs58.90 per share on Monday. Read more

Market pulse at 12:30 PM today

Published on: 12:30 pm

  • Benchmark market indices fall into the red zone as banking and financial services stocks drag.
  • BSE Sensex is currently 55,523.06 down 59.52 points or 0.11%.
  • Tech Mahindra, HCL Tech, Nestle India, Asian Paints, and Infosys are the top gainers. IndusInd Bank, Mahindra & Mahindra, Axis Bank, State Bank of India, and ICICI Bank are the top losers
  • IT, FMCG, Healthcare, Pharma stocks are bullish while Banking and Financial Services stocks continue to drag,
  • Out of 30 stocks traded on the BSE, 13 advanced and 17 declined. Read More

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