Live market updates

31st Aug, 2021

Go Airlines receives SEBI approval for Rs3,600cr IPO

Published on: 5:16 pm

  • Go Airlines, which has rebranded itself as 'Go First', has received SEBI's approval for an initial public offer (IPO) worth Rs3,600cr.
  • According to the Draft Red Herring Prospectus (DRHP), the airline is planning to garner up to Rs3,600cr through the sale of shares. It is also planning to raise up to Rs1,500cr by way of a pre-IPO placement. Read more

Subex extends strategic partnership with Robi to support their 5G ambitions

Published on: 5:10 pm

  • Subex, a pioneer in enabling Digital Trust has announced that it has extended its partnership with Robi to upgrade its existing integrated Revenue Assurance and Fraud Management (iRAFM) system.
  • Through this upgrade, Robi will now leverage the AI/ML capabilities of Subex’s Revenue Assurance and Fraud Management solutions to tackle new-age telecom threats in the region and deliver a superior customer experience as it looks to provide services built on 5G.
  • Robi is one of the largest telecom operators in Bangladesh with over 47 million subscribers and is the first company to launch a 4.5G service with a network covering 7400 sites (99% of Thanas) in Bangladesh. Read more

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RBI: Bank credit to agriculture and allied activities accelerate 12.4% in July 2021, personal loans

Published on: 5:08 pm

  • The Reserve Bank of India (RBI) on Tuesday announced the data on sectoral deployment of bank credit for July 2021. The central bank collected data from selected 33 scheduled commercial banks, accounting for about 90% of the total non-food credit deployed by all scheduled commercial banks for the month under review.
  • As per RBI data, credit to agriculture and allied activities continued to perform well, registering an accelerated growth of 12.4% in July 2021 as compared to 5.4% in July 2020. Read more

Omaxe appoints Abhinav C Ajmera as President- Leasing

Published on: 5:05 pm

  • India's leading real estate developer Omaxe Ltd. has appointed top management professional Abhinav C Ajmera as President- Leasing.
  • With an excellent career spanning over 25 years, Ajmera will be responsible for strengthening the leasing operations and in helping the group to infuse new energy in the company’s commercial & retail real estate division.
  • The leasing of the company's upscale project Omaxe Chowk in Delhi’s Chandni Chowk is all set to begin soon and it hopes that this new association will give fillip to the company’s ambitious plan for bringing in new brands through shop zoning and product placement thereby changing the shopping landscape in this heritage location. Read more

Sun Pharma and Cassiopea announce expiry of the HSR Act process and successful consummation of Winle

Published on: 4:59 pm

  • Sun Pharmaceutical Industries and Cassiopea SpA announced the expiration of the applicable waiting period under the US Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) in connection with the exclusive License and Supply Agreements signed by both companies for Winlevi (clascoterone cream 1%),
  • For which a press release was issued by both companies on July 26, 2021, the company said.
  • The agreements are effective as of August 31, 2021, Sun Pharma said in the filing. Read more

Tata Motors excites electric vehicle market with the launch of of all new Tigor EV Sedan having Zipt

Published on: 4:54 pm

  • Tata Motors is all set to excite the electric vehicle market with the launch of the Tigor EV. Starting Tuesday, the Tigor EV deliveries will commence for the personal segment. Following the footstep of its ICE (Internal Combustion Engine) sibling, the Tigor EV has also been lauded by GNCAP with a 4-star rating for adult (12.00 points out of 17.00) and child (37.24 points out of 49.00) occupant protection.
  • Set to scale new heights in the dynamic world of electric mobility, the Tigor EV features Tata Motors’ proprietary high voltage EV architecture, Ziptron, and is built on the three strong pillars of Technology, Comfort, and Safety. Read more

Maruti Suzuki expects semiconductor shortage impact on productions in Haryana and Gujarat during Se

Published on: 4:49 pm

  • Maruti Suzuki said in the regulatory filing that owing to a supply constraint of electronic components due to the semiconductor shortage situation, the Company is expecting an adverse impact on vehicle production in the month of September in both Haryana and its contract manufacturing company, Suzuki Motor Gujarat Pvt. Ltd. (SMG) in Gujarat.
  • Though the situation is quite dynamic, it is currently estimated that the total vehicle production volume across both locations could be around 40% of normal production, Maruti Suzuki said. Read more

SRF board nods bonus issue in ratio of 1:4; stock ends 4% higher

Published on: 4:38 pm

  • SRF said in the regulatory filing on Tuesday that the board approved a bonus issue of equity shares in the proportion of 4 equity shares of Rs10 each for every 1 equity shares of Rs10 each held by the shareholders of the Company as on the record date.
  • The stock ended at Rs10,140.65 up by Rs429.1 or 4.42% from its previous closing of Rs9,711.55 on the BSE. The scrip opened at Rs9,801 and touched a high and low of Rs10,354.25 and Rs9,760 respectively.
  • “In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors at their meeting held today (started at 11:55 a.m. and concluded at 2:00 p.m.) inter-alia considered and approved Bonus Issue of Equity Shares in the proportion of 4 (Four) Read more

CARE reaffirms ratings on bank facilities of Shiva Mills; Stock ends 5% higher

Published on: 4:15 pm

  • CARE Ratings Limited has reaffirmed ratings on the bank facilities of Shiva Mills Limited. The credit rating agency has reaffirmed CARE BBB; Stable rating on the company’s long-term bank facilities and CARE A3+ rating on short-term bank facilities.
  • The rating on long-term / short-term bank facilities of the company has been reaffirmed at CARE BBB; Stable /CARE A3+. Read more

Balu Forge Industries joins as signatory to UN Global Compact initiative; Stock ends 4% higher

Published on: 4:13 pm

  • Balu Forge Industries Ltd has joined the U.N. Global Compact as a signatory & will be integrating the principles of the Compact into the business practices with an objective of creating a sustainable world built on strong principles laid down by the above initiative.
  • "We strongly support the Ten Principles of the United Nations Global Compact on human rights, labour, environment and anti-corruption. With this communication, we express our intent to implement those principles", said the company. Read more

Bank of India announces closure of QIP issue; raises Rs2,550cr

Published on: 4:12 pm

  • Bank of India on Tuesday announced the closure of its QIP issue and said that it has raised Rs 2,550 crore by issuing more than 40.5 crore shares to the qualified institutional buyers.
  • The capital issue committee at its meeting held on August 31, 2021 has approved the issue and allotment of 40,54,71,866 equity shares to eligible qualified institutional buyers (QIBs) at an issue price of Rs 62.89 per share, aggregating to Rs 2,550.01 crore, Bank of India said in a regulatory filing on Tuesday.
  • The stock ended at Rs66.40 down by Rs1.6 or 2.35% from its previous closing of Rs68 on the BSE. Read more

L&T owned Nabha Power wins Twin Awards at CII Energy Efficiency Summit 2021

Published on: 4:00 pm

  • Larsen & Turbo Limited’s wholly-owned subsidiary, Nabha Power Limited has recently won two prestigious awards at the 22nd National Award Ceremony for Excellence in Energy Management, hosted by the Confederation of Indian Industry (CII).
  • Nabha Power was adjudged the National Energy Leader 2021 for its continued excellent performance for the third consecutive year in Energy Management. The power producer has been successfully operating a 2x700 MW supercritical thermal power plant at Rajpura, Punjab since 2014. Read more

Tinplate ends 3% higher after board nods Rs1800cr expansion plan

Published on: 3:41 pm

  • The Tinplate Company of India Limited informed the exchanges that the Board of Directors of at its meeting held on August 28, 2021, approved an expansion plan.
  • The company’s existing capacity is 3,79,000 TPA located at Jamshedpur. The existing capacity utilization is above 90%. The Company intends to invest in putting up an additional capacity of 3,00,000 TPA at Jamshedpur.
  • Based on the current visibility and estimates, the project is expected to be completed in about 3 years. The time period of about 3 years is assuming that the Company is able to obtain expeditiously all regulatory approvals from appropriate authorities concerned. Any delay in obtaining regulatory approvals or events like the COVID-19 may impact project timeliness. Read more

Markets close on lifetime highs; Nifty above 17,000 level

Published on: 3:38 pm

  • Markets witnessed a positive day of trade, with the benchmark index closing on lifetime highs with call option writers running for cover.
  • Nifty outperformed the Bank Nifty index by ~1% as the index saw heavy buying frenzy, closing ~1.3% higher.
  • Bharti Airtel and Bajaj Finance were among the top outperformers as fresh long positions were added throughout the trading session. Read more

TVS Motor launches TVS ‘Built To Order’ platform; Stock zooms near 1%

Published on: 3:27 pm

  • TVS Motor Company has launched TVS ‘Built To Order’ (BTO) platform, marking its foray into the factory customisation and personalisation platform. The new business vertical, the TVS BTO platform will empower the customers to customise and personalise their vehicles when making a purchase, which will be built directly at the factory as per their requirement(s). This further strengthens the company’s commitment to introducing first-in-class technologies and class-leading features in the segment.
  • Meghashyam Dighole, Head - (Marketing) Premium Motorcycles, TVS Motor Company, said, “We are delighted to announce the launch of the new business vertical, the TVS ‘Built To Order’ (BTO), our first factory Customise-Personalise platform. Each customer has a unique riding style and expression. This platform empowers our customers to customise and personalise their machines as per their requirements." Read more

AU Small Finance Bank stock tumbles amid reports of top level exit

Published on: 3:26 pm

  • Shares of AU Small Finance Bank extended fall on Tuesday after CNBC-TV18 reported quoting sources that the bank’s Head Internal Audit at Jaipur Head Office Sumit Dhir has resigned.
  • Dhir was seen as a replacement for Nitin Gupta, Chief Audit Officer who resigned on March 3, 2021.
  • This is the third high profile resignation at AU SFB in recent months. On July 14, 2021, Alok Gupta resigned from the post of Chief Risk Officer, the media reports added. Read more

CRISIL reaffirms ratings on Gujarat Fluorochemicals' bank loan facilities; Stock zooms 2%

Published on: 3:25 pm

  • CRISIL Ratings has withdrawn its rating on the commercial paper programme of Gujarat Fluorochemicals Ltd (GFCL) on company’s request. The withdrawal in ratings is in line with CRISIL's policy of withdrawal of ratings.
  • CRISIL Ratings has also reaffirmed its ‘CRISIL AA/Negative/CRISIL A1+’ ratings on the bank facilities of the Company.
  • The ratings continue to reflect GFCL’s established market position in the chemicals business, healthy operating efficiencies driven by integrated operations, and a healthy financial risk profile. Read more

CARE upgrades credit ratings of KEI Industries; Stock down 2%

Published on: 3:24 pm

  • CARE Ratings Limited has upgraded the long-term and short-term bank facilities/ debt instruments ratings of KEI Industries Limited. The rating on long-term bank facilities has been upgraded to CARE AA- / Stable.
  • The credit rating agency has upgraded the rating on fixed deposit instrument to CARE AA- (FD) / Stable. On short-term bank facilities and commercial paper programme of the company, an upgraded rating of CARE A1+ has been assigned. Read more

L&T concludes divestment of 99 MW Hydro Power Plant with Renew Power for Rs1,001.50cr

Published on: 3:21 pm

  • Larsen & Toubro (L&T) has concluded the divestment of its 100% stake in the 3 x 33 MW (99 MW) hydroelectric power plant at Singoli-Bhatwari in Uttarakhand.
  • As per the terms, the EPC Projects, Hi-Tech Manufacturing and Services conglomerate received a consideration of Rs1,001.50cr as divestment proceeds from Renew Power. Read more

Bharti Airtel stock hits new 52-week high after clarifying on Google investment buzz

Published on: 3:14 pm

  • Bharti Airtel on Tuesday clarified stock exchanges about media buzz claiming that search engine Google is looking to make a large investment in the company. Airtel said that "as a matter of policy, does not comment on media speculation/report(s)."
  • In its regulatory filing, Airtel said that being a significant player in the telecom and digital industry, the Company receives interest from high-quality investors and companies for its various businesses. The Company evaluates various opportunities for potential investor engagement and takes decisions in a judicious manner.
  • On Monday, BSE and NSE sought clarification from the company over a news article claiming that search engine giant Google is in talks to make a large investment in Airtel. Read more

NTPC supplies around 73 MU Power on daily basis to Bihar in second fortnight of August

Published on: 3:10 pm

  • NTPC has been supplying power to the state of Bihar as per the schedule provided by various stations of NTPC and its JVs. During the fortnight from 14.08.2021 to 28.08.2021, on average, NTPC has supplied around 73 MU Power on daily basis to Bihar, which constitutes around 62% of the total consumption of Bihar during the same period.
  • The peak demand months for the FY 2021-22, as declared by the Eastern Region Power Committee, at the beginning of the year were April, May and June. Accordingly overhauling in some units were planned during this period to align with the low demand period. These units will gradually be taken back in service. Read more

Reliance Industries in talks to acquire Europe's solar panel maker REC for $1.2B from ChemChina: Rep

Published on: 3:08 pm

  • Reliance Industries (RIL) is expected to strike a major deal in the power sector as reports state that the Mukesh Ambani-led company is planning to acquire Norwegian solar panel maker REC Group from China National Chemical Corp (ChemChina).
  • The deal is expected to be a mega acquisition valuing between $1-1.2B and is in line with RIL's Rs75,000cr push into clean energy.
  • As per the ET report, talks are underway with global banks to raise about $500-600 million in acquisition financing for the deal, while the rest will be funded via equity. Further, the acquisition will open doors for Reliance to access cutting-edge technology and global manufacturing capabilities as it continues to move forward on its plan to expand into the solar energy sector. Read more

Digispice Tech led Spice Money partners with Israel’s leading fintech player, Tarya

Published on: 3:05 pm

  • Spice Money Limited, a subsidiary of Digispice Technologies Limited has entered into a joint venture with Tarya group, Israel’s leading fintech player with 70% P2P market-share in Israel, to bring Bharat to the fore of the ongoing data-led digital revolution by launching a lend-tech platform targeted towards rural India.
  • The synergy between Tarya Fintech and Spice Money will lead to the creation of an innovative, agile, assisted and technologically superior digital lending platform.
  • The JV aims to fill the credit gap in India by offering underserved and underbanked rural India a convenient platform to access credit easily with minimal documentation. This platform will address challenges that have kept rural India financially excluded such as lack of data, limited access, and unviable unit economics. Read more

Rupee extends gains against US Dollar ahead of GDP data

Published on: 2:53 pm

  • The Indian rupee extended its morning gains against the US dollar tracking a positive trend in domestic equities and weak American currency in the overseas markets. Also, weak sentiments in regional peers could also limit gains in the local currency.
  • At the interbank foreign exchange, the rupee opened at 73.26 against the dollar, then inched higher to 73.0/$, up 21 paise over its previous close.
  • On Monday, the currency surged by 40 paise to close at 73.29 against the US dollar. Read more

Ugro Capital considers fundraise through various options of borrowings

Published on: 2:49 pm

  • Ugro Capital Limited is considering raising funds through various options of borrowings including by way of issue of debt securities through private placement or public issue in September.
  • Based on the market conditions, the Investment and Borrowing Committee will consider and approve such issuances of debt securities during the month ending September 30, 2021, subject to such terms and conditions including the issue price of debt securities, as the Committee may deem fit, company said in a regulatory filing on Monday. Read more

Nifty IT maintains record levels, index surges near 200 pts; TCS, HCL Tech hit new 52-week highs

Published on: 2:45 pm

  • IT stocks recovered from their previous losses and traded on a higher note on Tuesday with heavyweights TCS, Wipro and HCL Tech hitting new record levels amid a stronger rupee against the greenback. Nifty IT has surged by more than 1% today. A broad-based buying was recorded in the sectoral index.
  • At around 2.45 pm, Nifty IT was trading at 34,306.85 up 197.65 points or 0.58%. The index has touched a new all-time high of 34,558.95.
  • Coforge was the top gainer soaring 1.6%  followed by Tech Mahindra surging 1.4%. Read more

ICRA revises outlook to Positive of Torrent Pharmaceuticals, reaffirms rating

Published on: 2:44 pm

  • Torrent Pharmaceuticals Ltd has informed that ICRA has re-affirmed the credit rating and has revised the outlook of the bank facilities and NCDs.
  • The outlook for Non Convertible Debentures has been revised to 'Positive' from Stable while rating reaffirmed at 'ICRA AA'. Rating for Commercial Paper reaffirmed at 'ICRA A1+' and banking facilities rating outlook revised to 'positive' at 'ICRA AA'.
  • The change in outlook on the long-term rating to Positive factors in Torrent Pharmaceuticals (TPL’s) ongoing deleveraging exercise, supported by its healthy operating profit margins (OPM) and cash generation, thereby leading to healthy credit metrics. Read more

Market pulse at 2:30 PM today

Published on: 2:30 pm

  • Indices led by metal and financial services rise further to record levels.
  • BSE Sensex is currently 57,319.17 up 429.41 points or 0.75%.
  • Nifty50 is currently 17,061 up 129.95 points or 0.77%. Nifty Bank is 36,358.80, up 0.03%. Mid-cap Index is down by 0.35%. Read more

Centre releases Rs13,385.70cr grant-in-aid for rural local bodies

Published on: 2:14 pm

  • The Department of Expenditure, Ministry of Finance has on Monday has released an amount of Rs13,385.70cr to 25 States for providing grants to the Rural Local Bodies.
  • This Grant-in-aid is the 1st installment of Tied grants of the year 2021-22.  The grants have been released as per the recommendations of the 15th Finance Commission.
  • Tied grants are released to the Rural Local Bodies (RLBs) for improving two critical services namely (a) Sanitation and maintenance of open-defecation free (ODF) status and (b) supply of drinking water, rain water harvesting and water recycling. Read more

REC board approves amendments in JV agreement of Energy Efficiency Services

Published on: 1:49 pm

  • REC on Tuesday announced that the company's board of directors have approved amendment(s) in the Joint Venture Agreement of Energy Efficiency Services.
  • Energy Efficiency Services is a JV company of REC, PFC, POWERGRID and NTPC.
  • At around 1.48 pm, REC was trading at Rs150.40 per piece up 0.4% on Sensex. Read more

NTPC to begin commercial operation of unit 1 of 800 MW capacity of Darlipali Super Thermal Power St

Published on: 1:44 pm

  • NTPC on Tuesday announced that the Unit-2 of 800 MW capacity of Darlipali Super Thermal Power Station, Stage-I (2 x 800 MW) is declared on commercial operation with effect from September 01, 2021.
  • With this, the commercial capacity of NTPC and NTPC group will become 53225 MW and 66650 MW respectively.
  • At around 1.43 pm, NTPC was trading at Rs115.65 per piece up 0.6% on Sensex. Read more

Nifty hits 17k for the first time ever; Auto index recover ahead of monthly sales data; MRF, Eicher,

Published on: 1:40 pm

  • The Nifty Auto index recovered from morning losses to trade slightly higher in the afternoon trade. The Nifty Auto is trading at 9,964.65, up 7 points. The index has touched an intraday high and low of 9,975.60 and 9,893.85 respectively. The top automakers are set to present their August sales data tomorrow.
  • According to the Jefferies report, the global shortage of semiconductor chips is hurting automobile production and may impact August-September wholesales, even as demand is recovering well from the second wave of the pandemic.
  • Tube Investments among top losers, slipped 2%, Tata Motors fell 1.35%, M&M also dipped 0.54%, Balkrishna, Ashok Leyland, Hero MotoCorp and Bajaj Auto were also down in the auto index. Read more

HDFC AMC to buy 15% of AMC Repo Clearing for Rs22.18cr; Stock surges

Published on: 1:37 pm

  • HDFC Asset Management Company (AMC) will acquire 15% of the paid-up equity share capital of AMC Repo Clearing Limited (‘ARCL’) by paying an application amount of Rs22.18cr.
  • The transaction is expected to complete on or before October 28, 2021.
  • ARCL was incorporated on 17th April 2021 and is raising capital to the tune of Rs. 150 Crores.  ARCL will be engaged in the business of clearing and settlement of corporate bonds and to ensure completion and guarantee of settlement and to facilitate, promote, assist, regulate and manage dealings in corporate bonds, subject to necessary approvals. Read more

Market pulse at 1:30 PM today

Published on: 1:30 pm

  • BSE Sensex is currently 57,173.24 up 283.48 points or 0.50%.
  • Nifty50 is currently 17,014.30 up 83.25 points or 0.49%. Nifty Bank is 36,360.15, up 0.03%. Mid-cap Index is down by 0.26%.
  • Adani Ports, Bajaj Finserv, Bharti Airtel, Bajaj Finance, and IOC are the top gainers. Tata Motors, Nestle India, IndusInd Bank, M&M, and Reliance are the top losers. Read more

Ind Ra affirms Home First Finance's commercial paper at 'IND A1+'

Published on: 1:26 pm

  • India Ratings and Research (Ind-Ra) has affirmed Home First Finance Company India Limited’s commercial paper (CP) programme at 'IND A1+'.
  • The Commercial Paper Programme worth Rs1 billion is yet to be issued.
  • Home First is a Mumbai-based affordable housing finance company, primarily engaged in extending home loans to borrowers in the low-to-middle income groups. Read more

CARE reaffirms AYM Syntex credit rating with outlook revised from Stable to Positive

Published on: 1:20 pm

  • CARE Ratings Limited has reaffirmed the rating of AYM Syntex Limited Rs471.88cr bank facilities with an outlook revised from Stable to Positive. The rating on long-term bank facilities Rs141.88cr has been reaffirmed at CARE A- and outlook revised from Stable to Positive.
  • The credit rating agency has also reaffirmed the company’s short-term rating on bank facilities Rs330cr at CARE A2+. Read more

Atul Malik and Rekha Murthy co-opted as non-executive directors at Yes Bank effective Aug 30

Published on: 1:14 pm

Yes Bank has announced that Atul Malik and  Rekha Murthy have been co-opted as Non-Executive Directors on the Board of the Bank with effect from August 30, 2021, to broad base the Board.

Atul Malik, Non-Executive Director:
  • Malik is a veteran banker with more than 30 years of widespread experience. Malik is currently a Senior Advisor to TPG for their financial services portfolio. He represents TPG as the Chairman of UBC, one of the largest private sector banks in Sri Lanka. Previously, he was a Senior Advisor to General Atlantic for their financial services portfolio. Read more

Brickwork reaffirms rating of A K Capital Services' bank facilities; Stock dips 1%

Published on: 1:09 pm

  • A K Capital Services Ltd has informed that Brickwork Ratings India have re-affirmed its existing rating in respect to Bank Loan Facilities - Fund Based..
  • The ratings of A K Capital Services' bank loan facilities aggregating Rs641.76cr has been reaffirmed at 'BWR AA/Stable'.
  • The Ratings are valid for twelve months from the date of this letter i.e August 27, 2021. Read more

Shilpa Medicare gains ~2% on DCGI approval for '2- Deoxy-2-Glucose'

Published on: 1:07 pm

  • Shilpa Medicare Limited has received Drugs Controller General of India (DGCI) approval for 2-Deoxy-2-Glucose (Bulk & Oral Powder). The bulk is manufactured by the company at the API facility in Raichur,' Karnataka. The Oral Powder is manufactured by its subsidiary, Shilpa Therapeutics, facility in Hyderabad, Telangana.
  • The 2-Deoxy-2-Glucose Oral Powder is approved for the treatment of adjunct therapy in moderate to severe COVID-19 patients. The product will be available with the brand name '2-DGSHIL'.
  • At around 1.10 pm, Shilpa Medicare Ltd was trading at Rs584.20 per piece up by Rs9.9 or 1.72% from its previous closing of Rs574.30 per piece on the BSE. Read more

LIC, ICICI Prudential, Bajaj Allianz major investors of Bank of India's QIP issue

Published on: 1:04 pm

  • Bank of India's capital issue committee on Tuesday approved the issuance and allotment of 40,54,71,866 Equity Shares to eligible Qualified Institutional Buyers at an issue price of Rs Rs62.89 per equity share aggregating to approximately Rs2550.02cr.
  • The issue price is at a discount of 4.99% to the floor price of Rs66.19 per Equity Share of the qualified institutional placements (QIP).
  • The bank's QIP issue opened on August 25 and closed on August 30, 2021. Read More

IDFC First Bank allots 4.90 lakh equity shares under ESOS; Stock trades higher

Published on: 12:55 pm

  • IDFC First Bank has informed that in accordance with the terms of IDFC FIRST Bank Employee Stock Option Scheme, the Allotment, Transfer & Routine Matters Committee of the Bank has on August 30, 2021 approved the allotment of 4,90,866 fully paid up equity shares of Rs. 10 each to the allottee(s), upon exercise of stock options under the said Scheme. 
  • With the allotment of the above shares, the equity base of the Bank stands increased from present level of 6,21,08,01,606 (Nos.) to 6,21,12,92,472 (Nos.) equity shares of Rs. 10/- each. Read More

Bharat Forge gains after clarification about 'incorrect' report on Tesla talks

Published on: 12:53 pm

  • Bharat Forge Limited has said that the media report on talks with Tesla is incorrect. The company has issued a clarification to exchanges on Monday with reference to the article which was published in “Business Standard” dated August 29, 2021, and titled – “Elon Musk's Tesla in talks with 3 Indian firms for auto components: Report”.
  • “Our Company is not associated with the subject matter as stated in the newspaper article mentioned above and that the same is factually incorrect,” the company said in a filing. Read More

Nifty Metal extends gaining spree, surges over 1%; Adani Enterprises top bull; NALCO, Vedanta, Hinda

Published on: 12:50 pm

  • Amid broader buying sentiments in Indian markets, metal stocks were among top picks on Tuesday with heavyweights taking lead. The sector is in focus ahead of its monthly production data. Nifty Metal was the top gainer on NSE followed by the Nifty Healthcare index. Adani Group's flagship company, Adani Enterprises was the top bull on Nifty Metal.
  • At around 12.45 pm, Nifty Metal was trading at  5,699.15 up 71.05 points or 1.3%. The index has touched an intraday high and low of 5,704.05 and 5,604.25 respectively.
  • Adani Enterprises was the top bull surging nearly 5% followed by NALCO soaring 2.3%, Vedanta and Hindalco advanced around 2% each. Read more

Petrol and diesel prices unchanged today

Published on: 12:39 pm

  • Petrol and diesel prices remain steady across the country for the seventh consecutive day. The prices of the key auto fuels were last revised on August 24 when petrol and diesel prices were cut by 15 paise per litre each in the national capital.
  • According to the Indian Oil Corporation’s website, petrol currently costs Rs107.52, while diesel is retailing at Rs96.48 in Mumbai. The price of petrol in Delhi stands at Rs101.49 per litre while diesel is at Rs88.92.
  • Also, the price of petrol remains unchanged in Kolkata too, where a litre of petrol and diesel were retailed at Rs101.82 and Rs91.98, respectively. Whereas, Chennai also retailed a litre of petrol at the same price Rs99.20 and diesel price remained unchanged at Rs93.52 per litre. Read more

Market pulse at 12:30 PM today

Published on: 12:30 pm

  • Benchmark market indices climb to record highs as Nifty50 crosses 17k and Sensex tops 57100.
  • BSE Sensex is currently 57,152.03 up 262.27 points or 0.46%.
  • Nifty50 is currently 17,011.20 up 80.15 points or 0.47%. Nifty Bank is 36,454.25, up 0.29%. Mid-cap Index is up by 0.18%.
  • Bajaj Finserv, Adani Ports, IOC, Bharti Airtel, and Bajaj Finance are the top gainers. Tata Motors, Nestle India, IndusInd Bank, Reliance, and Britannia are the top losers.
  • Nifty Metal, Pharma, and PSU Bank stocks drive trade while Nifty Auto stocks enter the positive zone. 
  • Out of 50 stocks traded on the BSE, 39 advanced and 11 declined. Read More

Canara Bank climbs 4% after Centre extends term of Executive Director

Published on: 12:17 pm

  • Canara Bank has informed the exchange that the Finance Ministry and Central Government have extended the term of Executive Director name A.Manimekhalai.
  • A.Manimekhalai's term has been extended for a period of two years beyond her currently notified terms which expires on February 10, 2022, or until further orders, whichever is earlier.
  • The government last week extended the term of executive directors of various public sector banks including Union Bank of India. It also extended the terms of MD & CEOs of Punjab National Bank and Bank of Maharashtra. Read More

Nifty Healthcare advances; Apollo Hospitals, Ipca Labs emerge top gainers

Published on: 12:15 pm

  • The Nifty Healthcare Index rose over 100 points after a gap-up start to drive the markets ahead on Tuesday. Apollo Hospitals hit a new 52-week high of Rs5,046 to lead the gains while Torrent Pharma and IPCA Labs also advanced on the basis of the latest credit ratings.
  • Fortis and Laurus Labs were also in the fast lane. On the flip side Biocon, Pfizer and Alkem Lab were struggling.
  • Sensex tops 57,100, Nifty50 firm near 17,000 led by financial, pharma stocks. At around 12.15 pm, BSE Sensex was trading at 57,104.57 up 214.81 points or 0.38% and Nifty50 at 16,995.65 up 64.60 points or 0.38%. Read more

Nifty hits 17,000; Midcap index up over 170 pts; Apollo Hospital, Adani Transmission stocks shine

Published on: 12:10 pm

  • The S&P BSE MidCap index hit a record high of 23,840.26 in the early morning trade, currently, it is trading at 23,835.05 up 178 points on the BSE in the intra-day trade on the back of a sharp rally in stocks of Adani Transmission, Adani Enterprise and Apollo Hospital.
  • Apollo Hospital stock among top gainer, up 6%, Adani Transmission also up nearly ~5%, Adani Power zoomed 4.9%, Canara Bank climbed 4%, 3M India soared 3.77%, and Adani Enterprises also up 3.2% on the BSE Midcap index.
  • On the flip side of the Midcap index, AU Bank fell 5%, NIACL, Future Retail, HAL, Emami and BEL slipped at this hour. Read More

NHPC stock rises after commencing commercial operation of Bairasiul Power Station unit 3

Published on: 11:48 am

  • NHPC has commenced commercial operation of unit 3 of  Bairasiul Power Station from Tuesday onward. The company's stock was trading on a positive note.
  • Earlier this month, the company announced that Unit #3 (60 MW) of Bairasiul Power Station (3 X 60 MW) in Himachal Pradesh has been tested and commissioned after the completion of Renovation and Modernization works.
  • At around 11.47 am, NHPC was trading at Rs27 per piece up 1.3% on Sensex. Read More

SecureKloud Technologies hits 52-week high after its arm files for IPO in USA

Published on: 11:48 am

  • On Tuesday, SecureKloud Technologies Ltd stocks hit new 52-week high at Rs161.35 per piece on Dalal Street after it has announced that Healthcare Triangle Inc, a step-down subsidiary of the Company, made a public filing for its Initial Public Offering (IPO) with Securities and Exchange Commission (SEC) for listing in NASDAQ Stock Exchange, USA on August 30, 2021.
  • Healthcare Triangle, Inc. is regulated by the U.S. Security and Exchange Commission and incorporated in the state of Delaware.
  • At around 11:48 AM, SecureKloud Tech was trading at Rs156.65 per piece higher by 14.60% on Sensex. Read More

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