Live market updates

03rd Sep, 2021

Zen Tech bags Rs155cr worth supply order of Counter Unmanned Aircraft Systems from IAF; Stock locks

Published on: 5:25 pm

  • Zen Technologies has secured an order to the tune of Rs155cr e from Indian Air Force (IAF) for the supply of Counter Unmanned Aircraft Systems (CUAS). The order will be carried out in a 12-month time frame.
  • Ashok Atluri, Chairman, Managing Director & CFO commented, “This is a significant step toward making India a drone and counter-drone technology export hub. These orders placed on Indian companies can have a multiplier effect on the Indian equipment manufacturers eco-system because products like anti-drone systems have high export potential to friendly foreign countries. Anti-drone systems and training solutions are in high demand in many countries.”
  • According to the regulatory filing, in the face of stiff competition from foreign companies partnering with Indian companies, Zen Technologies emerged as the lead runner on the back of superior product quality at competitive pricing. Read more

Nitin Gadkari emphasizes the importance of well-developed infrastructure for enhancing economic acti

Published on: 5:20 pm

  • Union Minister for Road Transport and Highways Nitin Gadkari has emphasized the importance of well-developed infrastructure for enhancing the level of economic activity, creating additional fiscal space by improving the revenue base of the government.
  • Addressing the 29th Annual General Meeting of the American Chambers of Commerce in India on the theme ‘infrastructure propelling India in the global supply chain’ virtually he said that the bilateral trade between India and the US has grown from 16 Billion US Dollars to 149 Billion US Dollars in the last 2 Decades and is projected to reach more than 500 Billion US Dollars by 2025.
  • The Minister said the scope of technology transfer, innovation and research and development between India and the US must be further explored. Read more

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RIL's Mukesh Ambani believes India can easily generate over 1,000 GW of solar energy on just 0.5% of

Published on: 5:17 pm

  • Reliance Industries, chief Mukesh Ambani, at the International Climate Summit 2021, said that India’s energy needs will increase exponentially as the country's economic growth accelerates to fulfil the aspirations of 1.38 billion people.
  • He pointed that a New GREEN REVOLUTION has already begun in India. The Old Green Revolution made India self-reliant in food production.
  • Ambani said that India is today among the top three most attractive destinations for Renewable Energy. The target of 175 gigawatts of renewable energy capacity by December 2022 is now well within sight. Read more

India is ready to partner with like-minded nations towards development in technology embedded govern

Published on: 5:13 pm

  • At the UNCTAD High-level policy dialogue, Rajeev Chandrasekhar, Minister of State for Electronics & Information Technology, shared India’s success story of Digitalization on Thursday. Ministers from India, Indonesia and Sri Lanka shared policy experiences towards digital inclusion & social empowerment at the policy dialogue. The webinar was a pre-event organized in the run-up to the fifteenth session of the Ministerial Conference of the UNCTAD.
  • While talking about the story of India's digitization drive, Rajeev Chandrasekhar said that India’s success story of Digitalization is driven by the public and private sector in the global technology eco-system in terms of providing innovative solutions to the world. The Minister highlighted that India is poised today as one of the largest connected countries in the world in terms of Internet connectivity with around 80 Crore people online and one of the world’s largest rural broadband connectivity projects being executed. Read more

Reliance Industries market cap crosses over Rs15 lakh cr for the first time, stock hits new highs

Published on: 4:57 pm

  • Mukesh Ambani's Reliance Industries (RIL) was the star performer of Friday's trading session contributing heavily to benchmarks Sensex and Nifty 50's fresh record levels. RIL market cap has crossed over Rs15 lakh cr for the first time.
  • On Sensex, RIL's market cap finished at Rs2388.25  per piece up Rs94.60 or 4.1%.
  • The market cap on closing price was at Rs15,14,017.50cr. Read more

IndusInd Bank installs rooftop solar panels at Sri Sathya Sai Sanjeevani Hospital in Navi Mumbai

Published on: 4:45 pm

  • IndusInd Bank on Friday has installed rooftop solar panels at the Sri Sathya Sai Sanjeevani Hospital located at Kharghar, in Navi Mumbai.
  • The installation is a large scale grid solar Photovoltaic system that will generate nearly 300 kilowatt peak (kwp) of energy, thereby reducing carbon emission by over 340 Metric Tonnes.
  • Moreover, it will help the Hospital save nearly Rs60 lakh, annually towards energy consumption, which will then be used to facilitate cardiac surgeries of 40 children suffering from congenital heart diseases, free of cost. Read more

India & US sign project agreement for air-launched unmanned Aerial Vehicle

Published on: 4:36 pm

  • The Ministry of Defence and US Department of Defence signed a Project Agreement (PA) for Air-Launched Unmanned Aerial Vehicle (ALUAV) under the Joint Working Group Air Systems in the Defence Technology and Trade Initiative (DTTI) on July 30, 2021.
  • The PA for ALUAV falls under the Research, Development, Testing and Evaluation (RDT&E) Memorandum of Agreement between the Ministry of Defence and US Department of Defence, which was first signed in January 2006 and renewed in January 2015.
  • The agreement is a significant step towards deepening defence technology collaboration between the two nations through co-development of defence equipment. Read more

M&M Financial Services disburses more than Rs2,000cr for the second month in a row

Published on: 4:35 pm

  • Mahindra & Mahindra Financial Services Limited updated the exchanges Friday that in August 2021, the business continued its momentum with the disbursement of more than Rs2,000cr for the second month in a row.
  • The total disbursement at ~Rs2,150cr delivered ~57% YoY growth, albeit on a lower base of August 2020, which was impacted by the first wave of COVID-19. The collection efficiency was reported at ~97% for August 2021, further improving on 95% reported in July 2021 (collection efficiency in April, May, and June was 72%, 67%, 90% respectively), the company said in a filing.
  • It further said, with opening of the economy and improved mobility, the Company witnessed a meaningful reduction in the NPA contracts during the month as customer cash flows improved. We believe that this is a very encouraging sign. Read more

CARE upgrades ratings on bank facilities of Rolex Rings

Published on: 4:18 pm

  • CARE Ratings has upgraded the ratings on bank facilities of Rolex Rings Limited. The rating on long-term bank facilities of the company has been upgraded from CARE BB; Stable to CARE BBB -; Stable. The rating on short-term bank facilities has been upgraded from CARE A4 to CARE A3. Read more

Newgen appoints Virender Jeet as CEO; Tarun Nandwani as COO

Published on: 4:17 pm

  • Newgen Software, a global provider of digital transformation platform, announced that Virender Jeet, Senior VP – Sales, Marketing, & Products, has been named the Chief Executive Officer (CEO), and Tarun Nandwani, Senior VP – Business Management, the Chief Operating Officer, with effect from September 1, 2021.
  • Jeet has been with Newgen since its inception in 1992. He has been closely associated with the complete lifecycle of product development, sales & marketing, patents, and various other strategic functions at Newgen, thereby significantly contributing to the business growth in the last 29+ years. Read more

BSE, India’s 2nd Largest Commodity Exchange, executes deliveries of 90 MT in BSE SUFI Steel futures

Published on: 4:13 pm

  • BSE, India's leading and most diverse exchange, announced that it has completed one month since the launch of SUFI Steel futures contracts on the exchange platform, and has facilitated the delivery to the tune of 90 MT in the first full expiry cycle at the exchange designated delivery centre in Raipur.
  • The contract was launched by Sajjan Jindal, Chairman and Managing Director of JSW Group on 22nd July 2021, who had highlighted the lack of a transparent benchmark for the steel industry.
  • BSE is confident that the successful completion of the delivery process will encourage more participants in the value chain to use the BSE SUFI Steel billets futures contracts going forward. Read more

ESDS Software files DRHP for its IPO

Published on: 4:09 pm

  • Nashik-based, Cloud services & Data Center firm, ESDS Software has filed its draft red herring prospectus with the Securities and Exchange Board of India to raise finance through an initial public offering (IPO).
  • As per market sources, they are expected to raise between Rs1200-1300cr.
  • The IPO consists of a Fresh Issue of Rs 322 crore and an Offer for Sale (OFS) of up to 21.53 million equity shares by its investor shareholders and promoter group shareholder. Read more

Salzer Electronics incorporates JV Salzer Emarch Electromobility; stock ends higher

Published on: 4:04 pm

  • Shares of Salzer Electronics ended higher by nearly 11% on the BSE.  The company has incorporated a joint venture Salzer Emarch Electromobility to make electric conversion kits for auto-rickshaws, cars and buses and also manufacture novel electric driven utility vehicles and other allied activities.
  • “In continuation of our Media Release dated July 19, 2021, as well as Disclosure dated July 22, 2021, with regard to our Joint Venture Agreement with an IndoAustrian technology firm - Emarch LLP through our Wholly-owned Subsidiary Salzer EV Infra Private Limited and in pursuance of which, about formation of Joint Venture Company – Salzer Emarch Electromobility for making electric conversion kits for auto-rickshaws, cars and buses and also manufacture novel electric driven utility vehicles, we would like to inform that the Joint Venture Partners incorporated aforesaid “Salzer Emarch Electromobility,” the company said. Read more

Vakrangee renews agreement with Indian Bank for providing banking services on pan India basis

Published on: 3:50 pm

  • Vakrangee Limited (VL) has renewed its agreement with the Indian Bank to provide BC banking and end to end Financial Inclusion (FI) services for “Pan India” at Vakrangee Kendra outlets.
  • Vakrangee has emerged as one of the leading Financial Inclusion player with more than 13,000 Banking BC points and 4th Largest ATM operator in Rural India with more than 5,400+ ATMs.
  • The Company is well on track to increase the operational NextGen store footprint from current 11,900 to 25,000 stores by March 2022. This renewal with Indian Bank would ensure sustainable growth and activation of Banking BC point services at all Kendras across the country. Read more

Steel Strips Wheels board nods stock splits in ratio of 1.2

Published on: 3:47 pm

  • Steel Strips Wheels has received board of directors approval for sub-division of equity shares in a ratio of 1:2.
  • As per the regulatory filing, the board approved sub-division of equity shares of the Company from the existing 1 (one) equity share of the face value of Rs.10/- each into 2 (Two) equity shares of the face value of Rs. 5/- each, subject to the approval of shareholders of the Company.
  • The Record Date for sub-division of equity shares shall be decided after obtaining approval for sub-division from the shareholders at the ensuing Annual General Meeting and will be intimated in due course. Read more

Sensex, Nifty 50 closed on lifetime highs; Heavyweight Reliance Industries among top outperformers

Published on: 3:41 pm

  • Domestic markets continued to remain on a hot streak with the benchmark index closing on lifetime highs.  The index Option gamma writers ran for a cover as the indices finally break out from their consolidation phase. The Nifty index outperformed the Bank Nifty index by ~0.5% as both the indices witnessed an addition of long positions during the week, closing ~3.5%/3% higher.
  • On the daily charts, the Bank Nifty index is has given a rising channel breakout, indicating a possibility of continued upward momentum.
  • Reliance Industries was among the top outperformers, witnessing an addition of fresh long positions during the week, closing ~7% higher. Read more

Oil India transfers over 3.61cr shares of Numaligarh Refinery to Assam Govt for Rs786.42cr

Published on: 3:41 pm

  • State-owned, Oil India announced that the company has transferred 3,61,15,840 equity shares of Numaligarh Refinery Limited ("NRL") in favour of the Government of Assam.
  • The transfer was done at a consideration of Rs217.75 per piece aggregating to Rs786.42cr.
  • Post the above transfer, the company's equity shareholding in NRL is 72.15 %. Read more

Markets close on lifetime highs; Reliance Industries outperformed

Published on: 3:35 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 ~0.65% as the index continued to see heavy buying frenzy, closing ~0.5% higher.
  • Reliance Industries was among the top outperformers as fresh long positions were added throughout the trading session. Read more

Biological E-led CORBEVAX receives approval for two clinical trials

Published on: 3:32 pm

  • Biological E. has received Drugs Controller General of India (DCGI) approval for conducting Phase III Comparator Safety & Immunogenicity trial in adults after Subject Expert Committee’s (SEC) review of Phase I and II clinical trials data. Additionally, Biological E., also received approval on 01.09.2021 to initiate the Phase II/III Study to Evaluate the Safety, Reactogenicity, Tolerability and Immunogenicity of the CORBEVAX vaccine in Children and Adolescents. The candidate is an RBD protein subunit vaccine.
  • Dr Renu Swarup, Secretary, DBT and Chairperson, BIRAC speaking on the subject said that “ Department through Mission COVID Suraksha launched under Atma Nirbhar Bharat package 3.0 being implemented by BIRAC, is committed to the development of safe and efficacious COVID-19 vaccines. We look forward to the clinical development of candidate CORBEVAX for paediatric and adults .” Read more

IRB Infra emerges preferred bidder for Tamil Nadu road project

Published on: 3:29 pm

  • IRB Infrastructure Developers Ltd (IRB) on Thursday has emerged as a preferred bidder for the construction of six lanes of 20.060 Kms Pondavakkam to Kannigaipair stretch on the upcoming Chittoor – Thachur Highway in the State of Tamil Nadu at the cost outlay of Rs909cr.
  • Commenting on the development, Mr. Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd. said, “We are happy to have another project in Tamil Nadu after the existing Omalur - Salem - Namakkal Project, which is under the BOT space.”
  • He further added, “Winning this project has validated our integrated strengths, developed in last more than 20 years, in executing all types and sizes of highway infrastructure projects, be it under BOT, TOT, HAM or EPC, irrespective of the geographical terrains.” Read more

Renaissance Jewelry New York acquires business of Everyday Elegance

Published on: 3:25 pm

  • Renaissance Jewelry New York Inc., a wholly-owned subsidiary of Renaissance Global Limited has acquired the business of Everyday Elegance Jewelry. As per the agreement, RGL has acquired 100% of assets of Everyday Elegance for a total consideration of USD 0.9 million. Approximately 35% of this acquisition cost is towards inventories of Everyday Elegance.
  • The Company intends to fund the investment through cash on the balance sheet.
  • This acquisition is in sync with RGL’s strategy to expand its presence in the high-margin global Branded Jewellery space. Over the last few years, the Company has partnered with global iconic brands such as Hallmark & Disney across key markets. RGL designs, manufactures and supplies branded jewellery through B2B and D2C distribution channels. Read more

Sharika Enterprises incorporates 'Sharika Green Infra' as new subsidiary

Published on: 3:24 pm

  • Sharika Enterprises Ltd has informed that the Company has Incorporated subsidiary namely, Sharika Green Infra Private Limited.
  • The Authorised Capital is Rs. 10,00,000/- and Paid up Capital is Rs. 1,00,000/-
  • According to the regulatory filing, the new Company incorporated to do business of Carbon Credit, Renewable Energy Credits, Climate Change Consultancy and other ancillary and incidental business with these objectives. Read more

Coal India inaugrates Innovative Remotely Piloted Aircraft System (RPAS) at MCL; Stock climbs 4%

Published on: 3:23 pm

  • Coal India Ltd. (CIL) has inaugurated an innovative  Remotely Piloted Aircraft System (RPAS) at Mahanadi Coalfields Ltd (MCL). Designed by the MCL’s Innovation Cell and the Department of E&T, the portal named “Vihangam’ for remote monitoring was created by a Mumbai-based start-up of drone manufacturing, robotics and automation.
  • This state-of-art initiative will enable the Company to access real-time video through the internet and pave the way for other allied potential use-cases of drones in mines. Read more

Rain Carbon assessing impact of Hurricane Ida on Louisiana Calcination facilities

Published on: 3:16 pm

  • Rain Carbon Inc., a leading global producer of carbon-based products and advanced materials, today announces that it is still assessing the impact of Hurricane Ida on several of its U.S. calcination facilities after the category 4 storm made landfall in Louisiana on Sunday.
  • As a precautionary measure in advance of the hurricane hitting the U.S. Gulf Coast, the company temporarily curtailed operations at its calcination, energy and terminal facilities in Chalmette, Gramercy and Norco, Louisiana, as well as its calcination plant in Purvis, Mississippi.
  • Rain Industries Ltd is currently trading at Rs222.05 down by Rs0.15 or 0.07% from its previous closing of Rs222.20 on the BSE. The scrip opened at Rs223.50 and has touched a high and low of Rs226 and Rs219.65 respectively. Read more

NCLT Indore sanctions Scheme of Arrangement involving Grasim Industries

Published on: 3:10 pm

  • Grasim Industries Limited informed the exchanges Friday that the Scheme of Arrangement between the company (Transferor Company) and Indorama India Private Limited (Transferee Company) and their respective shareholders and creditors has been sanctioned by the National Company Law Tribunal, Indore Bench at Ahmedabad (NCLT Indore) in an open court hearing on September 2, 2021.
  • “A copy of the Order pronounced by NCLT Indore is awaited. There are other Conditions Precedents to be completed and the Scheme shall become effective upon the completion of all the conditions set out in Clause 23 of the Scheme,” the company said in a filing. Read more

L&T Tech hits 52-week high on strong earnings projections

Published on: 3:10 pm

  • Shares of L&T Technology Ltd hit a new 52-week high on the NSE after the management's robust growth outlook.
  • At its recently held analyst day, the company's management said management guided for $1.5 billion revenue and 18% earnings before interest tax (Ebit) margins by FY25 on a strong demand outlook.
  • The IT company aims to achieve FY25 revenue of $1.5 billion, along with an 18% Ebit margin. The revenue guidance includes acquisitions while Ebit margin guidance takes into consideration elevated travel costs, continued investment in tech and manpower and acquisitions. Read more

Indian visa or stay stipulation period of foreign nationals stranded in India due to COVID considere

Published on: 3:05 pm

  • Due to the situation arising out of COVID-19 pandemic, a number of foreigners who had come to India on various types of visas prior to March, 2020 got stranded in the country in the absence of flights to their destinations.
  • The Central Government had facilitated the stay of such foreign nationals within India by giving deemed extension of their regular visa or e-visa or stay stipulation period on gratis basis without levy of any overstay penalty. This facility which is presently available till August 31, 2021 has now been extended by the Central Government till September 30, 2021. Read more

TTK Prestige gains on commissioning of expanded capacity at Gujarat plant

Published on: 2:50 pm

  • TTK Prestige Ltd has informed that the Company has completed expansion of capacity at its plant at Karjan - Vadodara district in Gujarat.
  • This capacity expansion is with respect to Non-stick Cookware, the added capacity being 4 million pieces p.a.
  • The commercial production from this expanded capacity has started from today i.e. September 3, 2021, said company in a regulatory filing. Read more

Bank Nifty pares early gains and turns bearish, index sheds 180 pts; Axis Bank, HDFC Bank, IndusInd

Published on: 2:45 pm

  • Bank Nifty index erased its early gains on Friday and entered into a volatile session weighed by heavyweight private bank stocks. The index has touched an intraday high and low of 37,140.00 and 36,563.20 respectively. The index had six scrips on the advancing side, while other  six on the declining front.
  • At around 2:43 pm, Bank Nifty was trading at 36,652.35 lower by 178.95 points or 0.49%.
  • IDFC First Bank and PNB were in the lead surging nearly 2% and 1% each. Bandhan Bank and Kotak Bank soared 0.6% each, while SBI and RBL Bank traded flat but in green. Read more

Ind-Ra affirms JK Paper's credit ratings with stable outlook

Published on: 2:42 pm

  • India Ratings and Research (Ind-Ra) has affirmed JK Paper Limited’s Long term issuer rating at IND AA-. The Outlook is Stable. The rating on term loan Rs326cr (increased from Rs66.3cr) has been affirmed at IND AA- / Stable.
  • The credit rating agency has affirmed the rating on fund-based limits 250cr at IND AA- /Stable/IND A1+. On non -fund based limits Rs370cr, IND AA- / Stable / IND A1+ rating has been affirmed. The rating on Commercial Paper Rs100cr IND A1+ rating was affirmed. On Term deposit Rs30cr IND tAA / Stable rating was affirmed. Read more

Market pulse at 2:30 PM today

Published on: 2:30 pm

  • Indices remain firm; Sensex regains 58k, Nifty above 17200.
  • BSE Sensex is currently 58,000.50 up 147.96 points or 0.26%.
  • Nifty50 is currently 17,275.85 up 41.70 points or 0.24%. Nifty Bank is 36,671.80, down 0.43%. Mid-cap Index is up by 0.34%. Read more

Rossari Biotech completes first tranche of acquisition of 76% in Tristar Intermediates

Published on: 2:15 pm

  • Rossari Biotech has completed acquisition of the first tranche of 76% of Tristar Intermediates Private Limited ("Tristar").
  • In its regulatory filing, Rossari said that "we wish to inform that as per the terms and conditions as set out in the share purchase and shareholders' agreement ("SPSHA") executed on July 17, 2021 by and among the Company, Tristar Intermediates Private Limited ("Tristar"), and the existing shareholders of Tristar, the Company has completed the acquisition of the First Tranche of 76% of the total equity share capital (on a fully diluted basis) ofTristar on Wednesday, September 01, 2021."
  • At around 2.14 pm, Rossari Biotech was trading at Rs1411.15  per piece down 0.8% on Sensex. Read more

CRISIL revises UCO Bank's outlook to 'Positive', reaffirms rating

Published on: 2:08 pm

  • CRISIL Ratings has revised its rating outlook on the long-term debt instrument of UCO Bank to 'Positive' from 'Stable' while reaffirming the 'CRISIL A+’ rating and has reaffirmed its ‘CRISIL A1+' rating on the short-term debt instrument.
  • The revision in outlook factors in the better-than-expected performance of the bank in the past few quarters. The ratings continue to reflect the expectation of strong support from the Government of India (GoI) and the bank’s moderate resource profile.
  • These strengths are partially offset by average, albeit improving, asset quality and earnings. Read more

GOCL Corp acquires controlling stake of APDL Estates from Hinduja Realty Ventures

Published on: 2:01 pm

  • GOCL Corporation has completed the acquisition of controlling stake of APDL Estates Limited (APDLE) from Hinduja Realty Ventures.
  • In its regulatory filing, GOCL said that the acquisition of APDLE by our Company has been completed with the transfer of APDLE shares from Hinduja Realty Ventures Limited to our Company on 1 September 2021."
  • With this, APDLE has become a wholly owned subsidiary of the Company. Read more

NMDC records iron ore output up 44% to 15 MT in Apr-Aug

Published on: 1:57 pm

  • NMDC’s great run continues with another record-setting month with a production of 3.06 MT and sale of 2.91 MT of iron ore in August, as per the Ministry of Steel.
  • The production and sales for this FY up to August 2021 is up by 44% and 45% respectively compared to CPLY.
  • Like the months preceding it, August too recorded the best August production performance ever in the six-decade-long history of the company. Read more

J&K Bank board approves fundraising up to Rs2,000cr via mixture of equity and debt; Stock gains

Published on: 1:55 pm

  • Jammu & Kashmir Bank has received board of directors approval for raising equity shares capital to the tune of Rs2,000cr through various medium and in tranches.
  • The board approved fundraising up to Rs1000cr in one or more tranches by way of Rights Issue/ Preferential Allotment/Private Placement/Qualified Institutional Placement (QIP) or any other approved mode.
  • Further, the board approved fundraising of Rs1000cr by way of Non-Convertible, Redeemable, Unsecured, BASEL III Compliant, TIER 2 bonds like debentures (“debentures”) on a private placement basis. Read more

Nandani Creation migrates to NSE Maid Board from NSE Emerge

Published on: 1:42 pm

  • Nandani Creation has migrated from NSE Emerge to the Main Board of NSE. The fashion giant said that September 2021 ushered in a huge development for Nandani Creation Limited and its investors.
  • Giving further information about the major announcement of migration from NSE Emerge to the Main Board of NSE, Nandani Creation Limited informed that the Company has received approval from National Stock Exchange of India Limited on 31st August, 2021 for migration of 1,0033,950 Equity shares from the NSE-SME platform to the main board of National Stock Exchange of India Limited w.e.f. 02nd September, 2021. Read More

Indiabulls Housing Finance announces Public Issue of Rs1,000cr non-convertible debentures

Published on: 1:37 pm

  • Indiabulls Housing Finance Limited, a housing finance company regulated by the Reserve Bank of India, has announced the public issue of secured/ and or unsecured, redeemable, non-convertible debentures of the face value of Rs1,000 each.
  • The Tranche I Issue opens on September 06, 2021 and closes on September 20, 2021.
  • The Tranche I Issue has a base issue size of Rs. 200 crores with a greenshoe option up to Rs800cr, aggregating up to Rs1,000cr (“Tranche I Issue”). The Tranche I Issue offers various options for subscription with coupon rates ranging from 8.05% to 9.75% per annum. Read more

Tata Steel Foundation bags BRICS Solutions for SDGs Award 2021

Published on: 1:31 pm

  • Tata Steel Ltd-led Tata Steel Foundation (TSF) added yet another feather to its cap as it bagged the BRICS Solutions for SDGs Award this year. The Foundation’s one of the most coveted initiatives, Maternal and Newborn Survival Initiative (MANSI), has been declared as the winner in SDG 3: Good Health and Well Being category.
  • The BRICS Solutions for SDGs Awards 2021 recognises initiatives aimed at achieving SDGs especially through innovative solutions across the BRICS nations.
  • The winners were selected basis comprehensive evaluation criteria of compliance, efficiency, uniqueness, coverage, replicability, and quality of description. Read More

Market pulse at 1:30 PM today

Published on: 1:30 pm

  • BSE Sensex is currently 58,040.81 up 188.27 points or 0.33%.
  • Nifty50 is currently 17,286.70 up 52.55 points or 0.3%. Nifty Bank is 36,778.55, down 0.14%. Mid-cap Index is up by 0.55%.
  • Reliance, Hero MotoCorp, IOC, and Eicher Motors are the top gainers. HDFC Life, Hindustan Unilever, HDFC, Bharti Airtel, and Axis Bank are the top losers.
  • Nifty Oil & Gas stocks rise nearly 2% while Metal, Auto, Media, and Realty stocks remain bullish. Nifty FMCG, Banking and Financial Services stocks remain under pressure. 
  • Out of 50 stocks traded on the BSE, 28 advanced and 22 declined. Read more

NHPC completes renovation & modernization of 180 MW Baira Siul Power Station in Himachal

Published on: 1:27 pm

  • The National Hydroelectric Power Corporation (NHPC) Ltd, has indigenously renovated & modernized its 180 MW Baira Siul Power Station and commenced commercial operations. The project is in Chamba in Himachal Pradesh.
  • According to the Ministry of Power said on Thursday that, the Baira Siul Power Station is NHPC’s first power station which was under commercial operation since 1st April 1982 and had completed its useful life of 35 years. Read More

S H Kelkar and Company stock jumps 10% after business updates

Published on: 1:16 pm

  • S H Kelkar and Company Ltd (SHK) stock was in a sharp rally on Friday after the company announced its business performance. The stock was nearing its record levels.
  • As per the regulatory filing, SHK has won an order in the Home Care segment from a large global MNC player in the domestic FMCG market. Driven by robust R&D capabilities and innovation strategies, SHK is the only Company of Indian origin to file patents in the field of Fragrance and Novel Aroma Molecules.
  • These patented molecules along with SHK’s strong & well-known expertise in the Indian fragrance industry paved the way for this order win. This strategic association will enhance the Company’s competitive advantage in the domestic markets and will enable SHK to build its presence in the high-potential global MNC space in the longer term. Read more

Nifty Auto tops 120 pts amid broad-based buying; Exide soars 7%; Hero, Maruti, Bharat Forge, Eicher

Published on: 1:05 pm

  • Auto stocks were in the fast lane on Friday led by broad-based buying as the festive season comes around the corner. The Nifty Auto index has neared the 10,200-mark. At present, 12 scrips have advanced, while 3 scrips have declined.
  • At around 12.56 pm,  the Nifty Auto was trading at 10,142 up 119.55 points or 1.2%. The index has touched an intraday high and low of 10,195.90 and 10,042.55 respectively.
  • Exide was the top gainer surging nearly 7% followed by Hero MotoCorp and Eicher Motors climbed nearly 3% each. Bharat Forge jumped nearly 2%. Read More

Nifty Oil & Gas stocks drive bull markets; Heavyweight Reliance hits new high

Published on: 1:05 pm

  • The Nifty Oil & Gas stocks were bullish to drive markets on Friday. Heavyweight Reliance Industries (RIL) hit new high of Rs2,374.90 per piece  to lift the performance of the sector. Hindustan PetroleumONGC and IOC also were in the fast lane. Whereas, Adani Total Gas Limited was under pressure.
  • Indian equity benchmark indices traded at record high levels on Friday morning with the Sensex rising above 58,115 and Nifty more than 17,310 for the first time. However, indices turn flat in the late mornong trade amid volatile session only to recover in the afternoon.
  • At around 1.05 PM, BSE Sensex was trading at 57,981.22 up 128.68 points or 0.22% and Nifty50 at 17,276.95 up 42.80 points or 0.25%. Read More

Satin Creditcare allots NCDs aggregating to Rs37.30cr

Published on: 12:40 pm

  • The Working Committee of Satin Creditcare Network Limited on Thursday has allotted 373 Secured, Rated, Listed, Redeemable Non-Convertible Debentures (NCDs) of the face value of Rs10 lakh each aggregating to Rs37.30cr.
  • The tenure of the instrument is 60 months from the date of allotment (September 2, 2021).
  • “Company shall maintain security cover of at least 1.0 times or 100% of the principal outstanding and Coupon Rate (11.5000) accrued NCDs will be redeemed on September 2, 2026,” the company said in a filing. Read more

Market pulse at 12:30 PM today

Published on: 12:30 pm

  • Markets bounced back, however, at a slower pace. Metal stocks rally to lead a revival. 
  • BSE Sensex is at 57,974.43 up 121.89 points or 0.21%.
  • Nifty50 is at 17,277.35 up 43.20 points or 0.25%. Nifty Bank is 36,763.80, down 0.18%. Mid-cap Index is up by 0.58%.
  • ONGC, Reliance, IOC, Eicher Motors, and Hero MotoCorp are the top gainers. HDFC Life, Hindustan Unilever, Axis Bank, Tata Consumer, and HDFC are the top losers.
  • Nifty Metak stocks rally over 1.5% while Auto, Oil & Gas, Media, and Realty stocks also drive trade. Nifty FMCG, Banking and Financial Services stocks are under pressure. 
  • Out of 50 stocks traded on the BSE, 28 advanced and 22 declined. Read more

Power Grid wins global ATD Best Award; Secures 8th rank among 71 organizations

Published on: 12:25 pm

  • Power Grid has won this International recognition for its diligent efforts in talent development practices and programmes.
  • Power Grid Corporation of India Limited (Power Grid), a Maharatna CPSU under the Ministry of Power, Government of India has been awarded the coveted “Association for Talent Development (ATD) 2021 BEST Award” securing 8th rank among the 71 organizations from around the globe, thus becoming the only PSU to win this award and one of the only two companies of India in Top 20.
  • The Association for Talent Development (ATD, formerly ASTD) is the world's largest association dedicated to those who develop talent in organizations and ATD’s BEST Award is the talent development industry’s most rigorous and coveted recognition. The global program recognizes organizations that demonstrate enterprise-wide success through talent development. Read More

ICICI Bank allots over 5 lakh equity shares under ESOS; Stock trades flat

Published on: 12:22 pm

  • ICICI Bank Ltd has informed that the Bank has allotted 5,02,958 equity shares of face value of Rs2 each on September 2, 2021 under the Employee Stock Option Scheme (ESOS).
  • ICICI Bank stocks in focus as on Thursday the shares rose 2% to hit new record high at Rs734.85 on Sensex. Market cap of the lender rose to Rs5,02,739.35cr.
  • The stocks has gained 39% since the beginning of this year and risen 85% in the last one year. Read more

Brickwork reaffirms ratings on Kallam Textiles bank loan facilities

Published on: 12:09 pm

  • Brickwork Ratings reaffirms the rating to 'BWR D' for the Bank Loan Facilities of Rs369.74cr of Kallam Textiles Ltd (Formerly known as Kallam Spinning Mills Ltd)
  • The rating reaffirmation continues to reflect delay in meeting debt obligation i.e. repayment of TL principal amount  with one of the lenders and resultantly account classification being SMA-1 as confirmed by the Lender.
  • Additionally, BWR notes the corporate governance concerns as reflected in the recent removal of the Company Secretary and Compliance Officer of the company with effect from 07Aug2021 due to breaking the code of conduct, committing fraud, violation of employment agreement, guilty of professional Misconduct and unauthorized filing of resignation to the BSE Ltd & MCA. Read More

Nifty Media index surges 1.5%; Network18, TV18 Broadcast, TV Today lift performance

Published on: 12:05 pm

  • The Nifty Media stocks were bullish amid volatile trade on Friday. The Index driven by gains from Network18TV18 Broadcast, and TV Today, surged 1.5%. PVR was the only stock out of total of 10 stocks in the sector, trading in the red.
  • The Indian equity benchmark indices traded at record high levels on Friday morning with the Sensex rising above 58,000 and Nifty around 17,300 for the first time. However, Sensex, Nifty turn flat as the market moves away from record highs.
  • At around 12.05 PM, BSE Sensex was trading at 57,898.64 up 46.1 points or 0.08% and Nifty50 at 17,258.45 up 24.30 points or 0.14%.  Read More

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