Live market updates

27th Sep, 2021

RattanIndia Enterprises welcomes India’s air space map for Drone operations

Published on: 5:07 pm

  • RattanIndia Enterprises welcomed the announcement of India’s air space map for Drone operations by the Government of India. It is a follow-through of recent announcements of liberalized Drone Rules, 2021 and the introduction of the Production Linked Incentive (PLI) scheme for the drones industry, which seeks to make India a global hub for drones.
  • As per the regulatory filing, the digital map defines Green, Yellow and Red Zones across the country for drone operations and is available on DGCA’s digital platform. The Green Zone consisting of the airspace up to 400 feet and up to 200 feet above the area located between 8-12 kilometres from the perimeter of an operational airport require no permission for operating drones with an all-up weight up to 500 kgs. This Digital Sky platform is based on the premises of self-certification and non-intrusive monitoring and will accelerate drone usage. These preapproved Green corridors will accelerate drone usage for industry applications. Read more

Reliance Industries stock hits new 52-week high, crosses market cap of Rs17 lakh cr so far today

Published on: 4:54 pm

  • Benchmark heavyweight Reliance Industries (RIL) has touched a new all-time high on Monday driving Sensex and Nifty 50 to fresh record highs. RIL has crossed even Rs17 lakh cr market capitalisation.
  • On Sensex, during the trading hours, RIL earmarked a new 52-week high of Rs2529 per piece.
  • However, RIL stock was corrected during the closing hours. RIL finished at Rs2525.20 per piece up Rs42.25 or 1.75 on Sensex. Read more

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Godavari Biorefineries files draft red herring prospectus with SEBI

Published on: 4:50 pm

  • Godavari Biorefineries Limited, the largest integrated bio-refinery in India and one of the largest producers of ethanol and pioneer in manufacturing ethanol-based chemicals in India has filed its Draft Red Herring Prospectus (“DRHP”) with market regulator Securities and Exchange Board of India (“SEBI”).
  • The equity shares are proposed to be listed on BSE and NSE.
  • The company plans to raise funds via Initial Public offerings through fresh issues aggregating up to Rs. 370 crores  (The “Fresh Issue”) and an “Offer for Sale (OFS)” comprising up to 65,58,278  equity shares. Read more

India Exim Bank extends Buyer's Credit facilities under NEIA aggregating $226.95M to Republic of Mal

Published on: 4:39 pm

  • Export-Import Bank of India [India Exim Bank] has extended two Buyer’s Credit [BC] facilities under National Export Insurance Account [NEIA] aggregating USD 226.95 mn to Fahi Dhiriulhun Corporation Ltd. (FDCL), Government of Republic of Maldives (GoM) for construction of 4000 Social Housing Units in Hulhumale, Maldives by NBCC (India) Ltd. (NBCC) and JMC Projects (India) Ltd. (JMC).
  • Ms. Salfiyya Anwar, Managing Director, FDCL, Maldives signed Buyer’s Credit Agreements under NEIA through Virtual Signing Ceremony on September 23, 2021, in the presence of Ms. Shilpa Waghmare, General Manager, India Exim Bank, Shri Sunjay Sudhir, Indian High Commissioner to the Maldives, H.E. Mr. Ibrahim Ameer, Minister of Finance, GoM, H.E. Mr. Fayyaz Ismail, Minister of Economic Development, GoM, H.E. Mr. Akram, Minister of State, Ministry of National Planning, Housing and Infrastructure, GoM.
  • These projects are expected to improve the socio-economic well-being of Maldivian citizens and is in line with the Government of India policy of ‘Neighborhood First’. Read more

Centre launches the Second Attempt of auction process for 11 coal mines

Published on: 4:31 pm

  • The Nominated Authority of the Ministry of Coal has launched the second attempt of the auction process for eleven coal mines (4 mines under the Tranche 12 of CM(SP) Act and 7 mines under the Tranche 2 of MMDR Act) earmarked for Sale of Coal in accordance with the rules prescribed under these Acts. Out of these 11 mines, six are fully explored and five are partially explored.
  • These were the mines that were offered in the first attempt launched in March 25this year and had fetched single bids.
  • The auction shall be held online through a transparent two-stage process, on the basis of percentage revenue share. Read more

Wardwizard Innovations to double the production capacity by October 2021

Published on: 4:30 pm

  • WardWizard Innovations and Mobility Ltd, leading manufacturer of electric two-wheeler brand ‘Joy e-bike’ has announced to set up an automatic assembly line in its Vadodara based manufacturing plant to double the production capacity.
  • The new automatic assembly line will be operational by October 2021. In the month of August, Wardwizard Innovations had sold more than 2000 units and has registered booking of more than 5000 units.
  • Considering the growing demand of EVs, WardWizard Innovations is setting up the target of manufacturing 2 lakh units in a single shift annually, which is presently at 1 lakh units annually, which can be ramped upto 6 lakh unit annually in 3 shifts. Read more

Cyient achieves Select Tier Status in AWS Partner Network with its evolving expertise in Digital Tra

Published on: 4:24 pm

  • Cyient announced that it recently was recognized by Amazon Web Services (AWS) as a Select-Tier Consulting Partner in the AWS Partner Network (APN). The APN is the global community of Partners who leverage AWS to build solutions and services for customers. Achieving this level of partnership differentiates Cyient as a provider of specialized demonstrated technical proficiency with demonstrated customer success in delivering cloud migration strategy and implementation services and leveraging AWS’s computing and managed resources to architect and develop advanced solutions in the AWS environment.
  • As a recent example, Cyient has deployed two scalable solutions within its IntelliCyient digital solutions portfolio on AWS, the Asset Tracking and Management System (ATMS) and Virtual Asset Management System (VAMS), which enable organizations to gain greater visibility into their assets and operations resulting in improved operational efficiencies, the company said in the filing. Read more

IRB Infra receives Letter of Award (LoA) from NHAI; Stock trades flat

Published on: 4:18 pm

  • Shares of IRB Infrastructure Developers Ltd ended on a flat note on Monday after receiving a Letter of Award (LoA) from NHAI in the state of Tamil Nadu.
  • In the regulatory filing, “in continuation with our earlier announcement dated September 2, 2021, we are pleased to inform you that the Company has received Letter of Award from NHAI for the project of Development of Six Laning of Chittoor-Thachur road from km. 96.040 (Pondavakkam) to km. 116.100 (Kannigaipair) on Hybrid Annuity mode under Bharatmala Pariyojana, in the state of Tamil Nadu (Package-IV).”
  • The construction Period of 730 Days & the Operation Period of 15-years commencing from COD, the company said. Read more

Tata Motors records 10k customers in EV segment; Stock ends 4% up

Published on: 4:09 pm

  • Auto giant, Tata Motors has recorded a remarkable feat of onboarding its 10,000th customer in the electric vehicles market. Leading the electric vehicle segment, this new milestone signifies a growing number of delighted customers of a Tata EV.  The first 10,000 EVs have been led by the early adopters and with this encouragement, Tata Motors has built a viable roadmap for the future and is committed to staying on course with making EVs mainstream.
  • Shailesh Chandra, President, Passenger Vehicle Business Unit, Tata Motors said, “The achievement of 10,000 EVs on road is a strong testament to how our innovative electric vehicles are resonating well with customers. We are proud to have lived up to the high expectations of the early EV adopters and are thankful to them for their continued trust in the brand. These customers have laid a strong foundation for EV ownership to further expand and have created a path for other prospective buyers to follow.” Read more

Home First Finance allotted 3,000 equity shares shall rank pari-passu with the existing equity share

Published on: 4:05 pm

  • Home First Finance Company India Limited confirmed to exchanges on Monday that confirm that the allotted 3,000 equity shares shall rank pari-passu with the existing equity shares and the company is in the process of completing the other formalities with respect to the listing of the said allotted shares.
  • The company’s Committee of Directors had allotted 3,000 Equity shares of Rs2/- each on September 25, 2021, pursuant to the exercise of Employee Stock Options under the ESOP II Scheme of the Company.
  • The paid-up share capital of the Company has accordingly increased from Rs17,50,41,408 consisting of 8,75,20,704 equity shares having a face value of Rs2/- each to Rs17,50,47,408 consisting of 8,75,23,704 equity shares having a face value of Rs2/- each, company said in a filing on Monday. Read more

Ind Ra upgrades Happiest Minds Technologies to 'A+' with Stable outlook

Published on: 4:02 pm

  • India Ratings and Research (Ind-Ra) has upgraded Happiest Minds Technologies Limited’s (HMTL) Long-Term Issuer Rating to ‘IND A+’ from ‘IND A-’. The Outlook is Stable.
  • According to the rationale report, Ind-Ra continues to take a consolidated view of HMTL and its subsidiary Happiest Minds Inc. (formerly known as PGS Inc.; 100% stake) as both the companies are engaged in the same line of business and have a common management.
  • The upgrade reflects an improvement in HMTL’s operational metrics in FY21. Read more

Markets close on a flat note; Banking stocks outperformed

Published on: 3:35 pm

  • Markets witnessed a lacklustre day of trade, with the benchmark index closing on a flat note.
  • Bank Nifty outperformed the Nifty index by ~0.9% for the second consecutive trading session to close on the record highs.
  • Stocks from the Financial and Auto sector were among the outperformers adding fresh long positions, while the IT stocks underperformed. Read more

Mangal Credit & Fincorp launches channel partners for gold loan; Stocks hit 52-week high

Published on: 3:35 pm

  • Mangal Credit & Fincorp Ltd stocks hit 52-week on Monday after it has informed that the Company announced the launch of empanelling Channel Partners across Pan India.
  • The launch is to promote Gold Loan business, with promoters rich and varied experience of more than 25 years in the industry with strong network.
  • On Monday, Mangal Credit & Fincorp ended at Rs74.50 apiece up by Rs4 or 5.67% from its previous closing of Rs70.50 apiece on the BSE. Read more

Reliance Power appoints Subrajit Bhowmick as CFO as Sandeep Khosla elevates to Reliance Infra

Published on: 3:33 pm

  • Reliance Power has appointed Subrajit Bhowmick as Chief Financial Officer (CFO) of the company as Sandeep Khosla gets elevated to CFO of Reliance Infrastructure. The same has come into effect from September 25, 2021.
  • Subrajit Bhowmick is a qualified Chartered Accountant, Cost Accountant and Company Secretary with extensive hands-on experience of over 25 years. He has established a record of success in the field of project finance, especially the Infrastructure Sector and extensive experience in Relationship Management, Credit Appraisal, Project Structuring, Term Sheet Negotiation, Debt Syndication etc. Read more

Punjab National Bank selects Alankit as National Business Correspondent; Stock climbs over 14% so fa

Published on: 3:23 pm

  • Alankit has entered into a project from Punjab National Bank related to request for proposal for Engagement of Corporate Business Correspondents for financial inclusion by providing banking services through Kiosks.
  • At around 3.20 pm, Alankit is trading at Rs17.60 per piece up 11.75% on Sensex. The stock has climbed more than 14% so far today with an intraday high of Rs18 per piece.
  • As per the regulatory filing, in consideration of the roles and responsibilities, Alankit shall be entitled to receive from Punjab National Bank a substantial amount. Read more

InterGlobe Technology Quotient and EaseMyTrip announce agreement worth $10 million; Stock surges 3%

Published on: 3:18 pm

  • Easy Trip Planners Limited informed the exchanges Monday that InterGlobe Technology Quotient, a leading travel technology provider today announced its agreement with EaseMyTrip, India’s second-largest online travel platform, to provide seamless access to ITQ’s travel commerce platform – Travelport (1G). The agreement is worth $10 million as advance revenue from ITQ.
  • “EaseMyTrip has grown over the years with our direct partnership,” said Sandeep Dwivedi, Chief Operating Officer at InterGlobe Technology Quotient, “and with this agreement, new channels of growth and expansion will open up. As one of the fastest growing online travel platforms, EaseMyTrip has been at the forefront of travel booking and has become a household name. Our agreement along with the commitment to innovate and offer cutting-edge technologies will bring greater developments for both companies in the future.” Read more

Hindustan Aeronautics sign deal with Alliance Air; stock trades flat

Published on: 3:17 pm

  • Hindustan Aeronautics (HAL) on Sunday has signed today Lease Agreement with M/s Alliance Air for the deployment of HAL Do-228 aircraft in Arunachal Pradesh.
  • “This is to inform that the Company has signed today Lease Agreement with M/s Alliance Air for the deployment of HAL Do-228 aircraft in Arunachal Pradesh,” HAL said in the filing.
  • The stock is currently trading at Rs1,336.45 down by Rs3.75 or 0.28% from its previous closing of Rs1,340.20 on the BSE. Read more

Nifty Auto skyrockets over 3% ahead of monthly sales data; Maruti climbs 6%; Tata Motors, M&M ad

Published on: 3:12 pm

  • Investors were upbeat on auto stocks during Monday's trading session ahead of monthly performance data. The Nifty Auto index has crossed over the 10,800-mark so far today driven by broad-based buying. On the index, 12 scrips have advanced while 3 scrips have declined. The index was the top bull on the NSE.
  • At around 2.57 PM, the Nifty Auto index was trading at 10,752.30 higher by 323.25 points or 3.10%. The index was lifted by heavyweight stocks like Maruti Suzuki, Tata Motors, M&M, Hero MotoCorp among others. The upside in the stocks were ranging from 1.5-6%. Read more

Goa Carbon shuts down Bilaspur and Goa Unit for maintenance work; Stock gains 3%

Published on: 3:05 pm

  • Goa Carbon Limited has announced to the exchange regarding the temporary shut-down of company's Bilaspur Unit located at 34-40, Sector B, Sirgitti Industrial Area, Bilaspur (Chhattisgarh) for maintenance work from September 24, 2021.
  • Further, the company's Goa Unit located at St. Jose de Areal, Salcete-Goa is also shut-down temporarily for maintenance work from September 25, 2021.
  • At around 3:04 PM on Monday, Goa Carbon was trading at Rs365.95 apiece up by Rs11.2 or 3.16% on Sensex.Read more

lnduslnd Bank partners with Vistara to launch a co-branded credit card

Published on: 3:00 pm

  • Most countries have begun to re-open their borders to travellers across the globe. While some others are planning to follow suit after more than a year of restrictions being imposed owing to the pandemic. In a bid to enhance their travel experience, IndusInd Bank has partnered with Vistara - India's premier full-service airline to launch a co-branded credit card.
  • Christened 'Club Vistara IndusInd Bank Explorer' Credit Card, the all-new card has been specially curated with unmatched benefits to fulfil the requirements of customers who prefer being 'on the go'. It provides the cardholder with a complimentary 'Gold' class membership to Club Vistara (CV), the frequent flyer programme of the airline under which, they can earn points on every flight. Read more

ICRA revises FY22 real GDP forecast to 9% led by vaccine ramp up, prospects of healthy Kharif output

Published on: 2:53 pm

  • ICRA has revised its real GDP growth forecast for FY2022 to 9.0% from 8.5%, citing the brightening prospects for H2 FY2022, benefitting from the rapid ramp-up in Covid-19 vaccine administration, healthy advance estimates of kharif output and easing of cash management measures related to the Government of India’s (GoI’s) spending.
  • According to Ms. Aditi Nayar, Chief Economist, ICRA Ltd: “The widening coverage of Covid-19 vaccines is likely to boost confidence, which will, in turn, re-energise demand for contact-intensive services, helping to revive the portions of the economy affected most by the pandemic. Moreover, the robust Kharif harvest is likely to sustain the consumption demand from the farm sector. Additionally, the expected acceleration in Central Government spending after the withdrawal of the earlier cash management guidelines will recharge this key driver of aggregate demand." Read more

Patel Engineering skyrockets 8.5% after bagging new order of Rs1,251cr Teesta-VI HE Project

Published on: 2:50 pm

  • Patel Engineering Limited, a civil construction company specializing in the hydropower sector, today announced that it has bagged an Rs1,251cr, Lot II Civil Work contract for 500 MW Teesta-VI Hydro Electric Project, Sikkim from Lanco Teesta Hydro Power Limited, a wholly-owned Subsidiary of NHPC Ltd. The project is located in South Sikkim District in Sikkim, India.
  • The package includes balance Civil works for Underground PowerHouse & Transformer Cavern, Part of HRT-I & HRT-II, Surge Shafts, Pressure Shafts & Adits, TRT and other Associated Structures, etc. of 500 MW Teesta-VI Hydro Electric Project located near village Subin Khore, South Sikkim, India, which is about 67Kms from Siliguri, the nearest major town. Read more

Kreon Finnacial Services surges 5% on update of business performance

Published on: 2:31 pm

  • Kreon Finnancial Services Ltd stocks rally in the market after it has informed that the company has made a step forward with 1 Lakh plus registered customers as on today September 27, 2021 in the StuCred App.
  • As on March 31, 2019, the StuCred App had 2,100 registered customers which was 26,700 registered customers as on March 31, 2020 and moved on to 45,000 registered customers as on March 31, 2021.
  • The customer base of StuCred has shown a rapid increase within six months in the current financial year which is more than 100% of the growth in the previous financial year. Read more

Market pulse at 2:30 PM today

Published on: 2:30 pm

  • Indices are flat in the afternoon trade, auto stocks soar; IT stocks drag.
  • BSE Sensex is currently 60,054.94 up 6.47 points or 0.01%.
  • Nifty50  is currently 17,857.20 up 4.00 points or 0.02%. Nifty Bank is 38,160. 30, up 0.87%. Mid-cap Index is up 0.23%. Read more

AstraZeneca Pharma receives DCGI import and market permission for Selumetinib capsule; Stock rises o

Published on: 2:24 pm

  • AstraZeneca Pharma has received Import and Market Permission in Form CT-20 from the Drugs Controller General of India for Selumetinib 10 mg and 25 mg capsules.
  • As per the regulatory filing, Selumetinib 10 mg & 25 mg capsule is indicated for the treatment of pediatric patients 3 years of age and older with neurofibromatosis type 1 (NF1) and who have symptomatic, inoperable plexiform neurofibromas (PN).
  • The receipt of this permission paves way for the launch of the Selumetinib 10 mg & 25 mg capsule in India, subject to the receipt of related statutory approvals and licenses. Read more

CRISIL revises credit ratings of Jubilant Industries’ subsidiary JACPL

Published on: 2:14 pm

  • Jubilant Agri and Consumer Products Limited (JACPL), a wholly-owned material non-listed subsidiary of Jubilant Industries Limited (JIL) have changed the credit rating agency from India Ratings & Research Private Limited to CRISIL Ratings Limited.
  • Accordingly, CRISIL has revised the ratings of JACPL on long-term loans/facilities from IND BBB+/Stable to CRISIL A-/Positive. Read more

Mindtree recognized by Great Place to Work as one of India’s Best Workplaces for Women 2021

Published on: 2:09 pm

  • Mindtree, a global technology services and digital transformation company, has been recognized by Great Place to Work Institute as one among India’s Best Workplaces for Women 2021 (Top 50 – Large Companies).
  • Of the 712 organizations evaluated for consideration in this list, 512 organizations met the eligibility criteria of: Read more

Info Edge stock jumps as Makesense and PB Fintech agree to file fresh scheme of amalgamation after I

Published on: 2:02 pm

  • Info Edge stock is trading on a higher note on Monday after the company's subsidiary Makesense Technologies agreed to file a fresh scheme of amalgamation with PB Fintech to expedite the process of its upcoming IPO.
  • On Saturday, Info Edge announced that Makesense Technologies received a request letter from PB Fintech seeking its consent for withdrawal of the aforesaid Scheme from the Hon'ble National Company Law Tribunal, Chandigarh Bench (“NCLT”) in order to expedite the process of its upcoming IPO. Read more

Nifty Media index surges 2%; Inox Leisure, PVR hit a new 52-week high after Maha govt allows reopeni

Published on: 1:35 pm

  • Media stocks spiked on Monday after the Maharashtra government allowed the reopening of cinema halls and auditoriums from the next month. The Nifty Media index was near the record high and was trading just a little shy of the 2,200-mark. On the index, 5 scrips advanced and 5 scrips had declined. However, Inox Leisure and PVR led the bull charge with a sharp rally in stock price.
  • At around 1.29 pm, the Nifty Media is trading at 2,195 higher by 41.75 points or 1.94%. The index had touched an intraday high and low of 2,198.85 and 2,140.40 respectively.
  • Inox Leisure was the top gainer surging by 9.41%. The stock has hit a new 52-week high of Rs413.90 per piece. Read more

Market pulse at 1:30 PM today

Published on: 1:30 pm

  • BSE Sensex is currently 60,190.84 up 142.37 points or 0.24%.
  • Nifty50 is currently 17,887.25 up 34.05 points or 0.19%. Nifty Bank is 38,230. 65, up 1.06%. Mid-cap Index is up 0.40%.
  • Maruti, Tata Motors, Mahindra & Mahindra, Hero MotoCorp and Bajaj Auto are the top gainers. HCL Tech, Divis Lab, Wipro, Tech Mahindra, and Infosys are the top losers. Read more

Theatres, auditoriums to open in Maharashtra after Oct 22, SOP to be declared soon

Published on: 1:27 pm

  • The media and entertainment companies have witnessed a revival as the Maharashtra government approved the opening of theatres in the state from next month.
  • The Maharashtra Chief Minister's Office through its Twitter account announced the development.
  • Theatres and auditoriums can commence operations after October 22, 2021, in the state, however, while observing all Covid safety protocols. Read more

Alufluoride incorporates 'Alufluoride International' as wholly-owned subsidiary in Singapore

Published on: 1:23 pm

  • Alufluoride Ltd has informed that the Company has incorporated a wholly owned subsidiary in the name "Alufluoride International Pte. Ltd." in Singapore.
  • The objective of incorporation is to expand the business operations to which industry belongs to Aluminium Fluoride and Environmental engineering design and consultancy services.
  • The Company has subscribed to the ordinary shares for consideration in cash, the remittance of capital will be made in due course through normal banking channels Read more

Ramco Systems transitions to a new leadership team led by COO, Sandesh Bilagi

Published on: 1:15 pm

  • Ramco Systems Limited informed the exchanges Saturday that Board of Directors has approved the leadership team, consisting of Company veterans, to successfully transition from the outgoing CEO and lead the organization's growth and operations for the future.
  • The leadership team consists of experienced professionals within the organization from across the globe in the areas of technology, business development & Strategy, delivery & Operations, finance, and HR, will be led by the COO, Sandesh Bilagi. Read more

Nifty Pharma stocks trade lower; Divis Lab sinks over 3%

Published on: 1:05 pm

  • The Nifty Pharma stocks shed around 1% amid volatile trade on Monday. Divis Laboratories dragged the most while Cadila Healthcare was also under extreme pressure.
  • The Indian equity benchmark indices opened near record highs on Monday following positive cues from global markets. However, Sensex, Nifty gave off highs on profit-taking.
  • The Indices regained momentum in the afternoon to trade higher. At around 1.05 pm, Sensex was trading at 60,172.70 up 124.23 points or 0.21% and Nifty50 at 17,883.00 up 29.80 points or 0.17%. Read more

Ind Ra affirms CEAT long-term issuer rating at 'IND AA/Stable'

Published on: 12:35 pm

  • India Ratings and Research (Ind-Ra) has affirmed CEAT Limited’s Long-Term Issuer Rating at ‘IND AA’. The Outlook is Stable.
  • Further, ratings on Commercial Paper affirmed at IND A1+.
  • According to the Rationale, Ind-Ra continues to take a consolidated view of CEAT and its subsidiaries on account of the strong operational and legal linkages among them.
  • Ind Ra expects a substantial expansion in the scale of operations, along with a leadership position in two or more segments, leading to a significant improvement in the operating margins and a large positive FCF, on a sustained basis, would be positive for the ratings. Read more

CRISIL assigns AAA/Stable rating to Rs2,550 million subordinated debt of ICICI Lombard General Insur

Published on: 12:35 pm

  • CRISIL Ratings Limited vide its letter dated September 24, 2021, has assigned a CRISIL AAA/Stable rating to Rs2,550 million subordinated debt of ICICI Lombard General Insurance Company Limited.
  • Earlier, ICRA Limited vide its letter dated September 22, 2021, had assigned an ICRA AAA/Stable rating to Rs2,550 million subordinated debt of the company.
  • Earlier this month the company had received final approval of the Insurance Regulatory and Development Authority of India to the Scheme of Arrangement with Bharti AXA General Insurance Company Limited (“Bharti AXA”) and their respective shareholders and creditors. As all conditions required for effectiveness of the Scheme had been fulfilled, the demerger and transfer of general insurance business, as envisaged in the Scheme, was made effective from September 8, 2021. Read more

Markolines Traffic Controls 347th company to get listed on BSE SME Platform

Published on: 12:31 pm

  • Markolines Traffic Controls Limited became the 347th company to get listed on the BSE SME Platform on September 27,2021. Markolines Traffic Controls Limited came out with an initial public offering of 51,28,000 Equity Shares of Rs.10 Each (“Equity Shares”) For Cash at a Price of Rs78 Per Equity Share (The “Offer Price”), Aggregating to Rs39.99cr.
  • The company has successfully completed its public issue on September 20, 2021.
  • Markolines Traffic Controls Limited is Maharashtra based company whose registered office is at Navi Mumbai. The company is engaged in the business of software development and providing educational services. The company also provides services of infrastructure operations like road-building and road maintenance. Read more

Market pulse at 12:30 PM today

Published on: 12:30 pm

  • Benchmark indices are flat as auto stocks soar while IT stocks drag.  
  • BSE Sensex is currently flat at 60,049.51.
  • Nifty50 is currently 17,850.20 down 3 points or 0.02%. Nifty Bank is 38,115. 45, up 0.75%. Mid-cap Index is down 0.13%.
  • Tata Motors, Maruti, ONGC, Hero MotoCorp, UPL, and Mahindra & Mahindra are the top gainers. HCL Tech, Tech Mahindra, Wipro, Divis Lab, and Bajaj Finserv are the top losers.
  • Nifty Auto and Realty stocks soar over 2% while Banking stocks also remain bullish on Monday. Nifty IT stocks slump 2.5% while Pharma and FMCG stocks also struggle.
  • Out of 50 stocks traded on the BSE, 25 advanced and 25 declined. Read More

TVS Srichakra to participate in TVS Srichakra Investments rights issue to extent of its entitlement

Published on: 12:27 pm

  • TVS Srichakra (TSL) will be participating in the Rights Issue that will be offered by the company's wholly-owned subsidiary, TVS Srichakra Investments Limited (TVSSIL).
  • In the rights issue, the participation of TSL will be to the extent of its entitlement i.e. 2,85,271 shares for a consideration of nearly Rs3.5cr.
  • In its regulatory filing, TVS Srichakra said that simultaneously, TVS Srichakra Investments Limited (TVSSIL) will be participating in the Rights Issue offered by its wholly-owned subsidiary TVS Sensing Solutions Private Limited (formerly ZF Electronics TVS India Private Limited) to the extent of its entitlement, i.e. 339805 shares for a consideration of nearly Rs3.5cr. Read More

CCI imposes Rs751.83cr penalty on United Breweries, fines certain individuals too; Stock dives over

Published on: 12:17 pm

  • United Breweries has announced to stock exchanges that the Competition Commission of India (CCI) has imposed a monetary penalty of a whopping Rs751.83cr on the company besides imposing a penalty on certain individuals and a cease-and-desist order.
  • The announcement was made on September 24 after the stock exchanges sought clarification from the company about a news article in Outlookindia.com titled "CCI slaps Rs 873 cr fine on UBL, Carlsberg India, others for cartelisation in beer sale". Read more

Piramal Enterprises board nods fundraising plan of Rs400cr on private placement

Published on: 12:15 pm

  • Piramal Enterprises Ltd has informed that at the meeting of the Board of Directors held today, the Committee approved the issuance of Secured, Rated, Listed, Redeemable, Principal Protected, Market Linked Non-Convertible Debentures (‘Debentures’) on private placement basis.
  • The Board has approved issuance of Secured, Rated, Listed, Redeemable, Principal Protected, Market Linked Non-Convertible Debentures up to Rs200cr along with an option to retain oversubscription of up to Rs200cr aggregating up to Rs400cr on private placement basis. Read More

Nifty IT stocks tumble over 2% amid volatile trade; Coforge, HCL Tech among worst sufferers

Published on: 12:15 pm

  • The Nifty IT stocks tumbled over 2.5% amid volatile trade on Monday. Coforge, Mphasis, Mindtree, HCL Tech, L&T Infotech shed over 3%. Tech Mahindra, Wipro, Oracle, Infosys were also down between 2-3 %. TCS also traded lower in the all red sector.
  • The Indian equity benchmark indices opened near record highs on Monday following positive cues from global markets. The Sensex opened 0.4% or 255 points higher at 60,304. Nifty50 index opened higher at 17,932, up 79 points or 0.4%. Read more

Poly Medicure incorporates step-down subsidiary in USA

Published on: 11:54 am

  • Poly Medicure Ltd has announced that the company has incorporated a Step-down Subsidiary "PolyHealth Medical Inc." in USA.
  • Poly Health Medical Inc. is wholly owned subsidiary of Poly Medicure B.V., Netherlands and Poly Medicure B.V. is a wholly owned subsidiary of Poly Medicure Limited, India.
  • Accordingly, the purpose of the incorporation is manufacturing and marketing of Medical Devices.
  • At around 11:55 AM, Poly Medicure was trading at Rs952.10 apiece down by Rs3.6 or 0.38%. Read More

Bank Nifty hits new 52-week high after announcement on Big Banks; RBL Bank, PNB, HDFC Bank, SBI shin

Published on: 11:54 am

  • Banking stocks broadly were on a stellar buying tone during Monday's trading session after the Finance Minister made the announcement on Big Banks. PSU Banks outperformed both private lenders and the broader Bank Nifty. In the early deals, Bank Nifty touched a new 52-week high of 38,355.20 before correcting.
  • At around 11.46 am, Bank Nifty was trading at 38,110.75 higher by 280.45 points or 0.74%. On the index, 10 scrips advanced while 2 scrips declined.
  • RBL Bank was the top gainer surging by nearly 2% followed by PNB climbing 1.6%. Index heavyweight HDFC Bank skyrocketed 1.5%, while Bandhan Bank and largest lender SBI advanced more than 1% each. Read more

SJVN bags 1000 MW Solar PV Power Project; Stock rises 2%

Published on: 11:47 am

  • SJVN has bagged the full quoted capacity of 1000 MW at a Viability Gap Funding (VGF) support of Rs44.72 Lakh per MW by the Government of India, through Request for Proposal (RFP) floated by Indian Renewable Energy Development Agency Limited (IREDA).
  • In the regulatory filing, the tentative cost of the Construction and Development of this Project is Rs5,500cr. The project is expected to generate 2365 MU in the first year and the project cumulative energy generation over a period of 25 years would be about 55062 MU.
  • These projects will assist SJVN in achieving its ambitious shared vision of 5000 MW by 2023, 12000 MW by 2030 and 25000 MW by 2040 and simultaneously contribute towards RE capacity addition target of 175 GW by 2022 set by Government of India, the company said. Read more

CRISIL upgrades credit rating on Nahar Spinning Mills bank facilities

Published on: 11:43 am

  • CRISIL has upgraded credit rating on Nahar Spinning Mills Limited’s bank facilities. The company's rating outlook on the long-term bank facilities has been upgraded to CRISIL A/Stable from CRISIL A-/Stable and on the short-term bank facility to CRISIL Al from 'CRISILA2+.
  • The company also informed on Saturday that CRISIL Rating on the Rs23.5cr Commercial Paper has been upgraded to CRISIL Al from CRISIL A2+ vide its letter dated September 24, 2021, which indicates a very strong degree of safety regarding timely payment of financial obligations. Read more

NBCC stock spurts on bagging Rs968cr contract

Published on: 11:41 am

  • Shares of NBCC (India) Ltd gained over 2% in the late morning trade after the company has bagged an Rs968cr contract.
  • The company has secured the work order of “Construction of 2000 Social Housing” at Hulhumale, Maldives on EPC basis. The total cost of the project is USD 130 Million (Rs968.50cr approx.), as per the regulatory filing.
  • The stock is currently trading at Rs47.50 up by Rs1.2 or 2.59% from its previous closing of Rs46.30 on the BSE.
  • The scrip opened at Rs48 and has touched a high and low of Rs48.55 and Rs47.30 respectively. Read more

Market pulse at 11:30 AM today

Published on: 11:30 am

  • Indices pare early gains to trade marginally lower. IT stocks drag.  
  • BSE Sensex is currently 59,996.15 down 52.32 points or 0.09%.
  • Nifty50 is currently 17,834.60 down 18.60 points or 0.1%. Nifty Bank is 38,138. 05, up 0.81%. Mid-cap Index is down 0.41%.
  • Tata Motors, Maruti, ONGC, Hero MotoCorp, UPL, and Mahindra & Mahindra are the top gainers. HCL Tech, Tech Mahindra, Wipro, Divis Lab, and Bajaj Finserv are the top losers.
  • Nifty Auto, Realty, and Banking stocks continue to drive morning trade on Monday. Nifty IT stocks fell 2.7% while Pharma and FMCG stocks also struggle.
  • Out of 50 stocks traded on the BSE, 25 advanced, 24 declined and 1 unchanged. Read more

NHPC board approves proposal to form subsidiary for renewable energy biz

Published on: 11:30 am

  • NHPC Ltd has informed to the exchange regarding incorporation of wholly-owned subsidiaries, subject to the approval of Government of India.
  • The Board of Directors of Company on September 24, 2021 has considered and approved the proposal regarding formation of a Wholly-Owned Subsidiary Company for development of renewable energy, small hydro and green hydrogen projects, subject to approval of Indian Government. Read more

Muthoot Finance updates on transfer of 2 cr equity shares in off market transaction; Stock sheds 1%

Published on: 11:17 am

  • Muthoot Finance Ltd has informed to the exchange regarding Substantial Acquisition of Shares and Takeovers in connection with the inter-se transfer of 2,00,00,000 equity shares in off market transaction constituting 4.985% of the total share capital of the company.
  • The transaction takes place in following manner:
  • i) Inter-se transfer of 1,00,00,000 of shares from George Alexander Muthoot to George Alexander (Jr.), son of George Alexander Muthoot and a member of the Promoter Group of the TC Read More

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