Published on: 5:01 pm
- Birlasoft Ltd has announced its offering of comprehensive SAP portfolio services to accompany the RISE with SAP package. Birlasoft services include advisory, implementation, and application management.
- RISE with SAP helps organizations transform their business at the pace, scope, and scale that best fits their needs. Birlasoft supports RISE with SAP with assessment services and frameworks, qualified Line of Business solutions, pre-packaged industry solutions, tools and accelerators, and intelligent automation solutions on SAP Business Technology Platform. Read more
Published on: 4:48 pm
- Piramal Enterprises Limited (PEL) today announced the payment of consideration for the acquisition of Dewan Housing Finance Corporation Ltd. (DHFL), marking the first successful resolution under the IBC route in the financial services sector. In value terms, the transaction is among the largest resolutions till date, setting the precedent for future resolutions in the sector.
- Speaking on the occasion, Ajay Piramal, Chairman, Piramal Group said, “We are very pleased to announce the consideration payment made towards the completion of this exciting acquisition. This accelerates our plans to become a leading digitally oriented, diversified financial services conglomerate that focuses on serving the financial needs of the unserved and underserved customers of our country.
Published on: 4:47 pm
- The National Pharmaceutical Pricing Authority (NPPA) is a regulatory body under the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, Government of India and is committed to ensure affordability and accessibility of medicines by fixing the ceiling price for scheduled formulations and monitoring the prices of non-scheduled formulations.
- Earlier this month, the Daily Excelsior has reported that the Jammu Pharmaceutical Distributors Association (JDPA) has alleged pharmaceutical companies for resorting corrupt practices by selling most of the medicines at different prices to different sectors despite having same MRP with active connivance of the NPPA. Read more
Published on: 4:40 pm
- Cerebra Green, the e-waste division of Cerebra Integrated Technologies Ltd., today announced its Zero Cost EMI Device-as-aService (DaaS) Program, the first-of-its-kind in India. Through this program, Cerebra will provide organizations customized IT hardware and services solutions on a ‘payper-device' fee.
- DaaS adoption in India has witnessed a 65% increase in the past 11 months, primarily due to the accelerated need for digital transformation and an increase in the distributed workforce. With Cerebra’s “Zero Cost*” model, enterprises no longer need to worry about asset replacement costs, high Capex costs or recovery. It is an endto-end program that includes collecting the devices, wiping customer data clean, and refurbishing or recycling them; thereby helping simplify IT Asset Management. Read more
Published on: 4:35 pm
- BLS International has won the contract with Embassy of Italy in Russia for visa processing for a period of 5 years in partnership. Under the contract, the company is expected to process approx. 1,40,000 applications every year with 20 centres across Russia.
- Under this mandate, BLS will be providing Italian Visas along with several value-added services like mobile biometric, translation, prime time submission, premium lounge, doorstep service, photocopy, courier, SMS alert, photo booths, etc. for the convenience of applicants, the company said in the release.
- BLS will initiate the visa processing along with promotions for tourism and investment opportunities in Italy through social platforms and events. Read more
Published on: 4:35 pm
- Axis Bank – NIIT Academy of Relationship and Wealth Management, a joint initiative by Axis Bank, India’s third largest private sector bank, and NIIT Institute of Finance, Banking and Insurance (NIIT IFBI) - a subsidiary of NIIT Limited, has launched its second program on “Virtual Sales and Relationship Management” that offers a great sales career with Axis Bank.
- The Axis Bank - NIIT Academy of Relationship and Wealth Management was launched last year for building a high quality talent pool for Axis Bank in Relationship Banking and Wealth Management Roles.
- Under this joint initiative, the Academy has been successfully running the Priority Banking Programme. Read more
Published on: 4:34 pm
- Tata Motors has rolled out its 1,00,000th unit of India’s safest hatchback, the Altroz, from its manufacturing facility in Pune. Despite all the challenges and restrictions due to Covid-19, India’s only hatchback with a 5-star Global NCAP Safety rating – the Altroz, has crossed this remarkable milestone within only 20 months of its launch.
- Rajan Amba, Vice-President, Sales, Marketing & Customer Care, PVBU, Tata Motors said, “We are pleased to share that we have crossed a major milestone during these challenging times and are grateful for the constant support and loyalty of our customers and partners. Read more
Published on: 4:25 pm
- Tata Consultancy Services (TCS) has been selected as a strategic partner by Apoteket, Sweden's largest pharmaceutical retailer, to accelerate its digital transformation and growth.
- TCS has been working with Apoteket since 2014. As part of the expanded strategic partnership, TCS will provide end-to-end IT services and consulting across the organization, encompassing the application and infrastructure layers. Further, it will help drive innovation by leveraging the TCS Pace Port in Amsterdam, a co-innovation and research hub specifically designed to help customers navigate their unique digital transformation journeys. Read more
Published on: 4:05 pm
- In the 34th Annual General Meeting of Indian Renewable Energy Development Agency Ltd. (IREDA), Pradip Kumar Das, Chairman & Managing Director (CMD) said that “despite the pandemic regime, IREDA completed the FY 2020-21 on second highest loan disbursements (since inception) amounting to Rs8,827cr, highest ever Profit Before Tax of Rs569.52cr with an increase of 136.20% over the amount of Rs241.11cr in the previous year and a net reduction in NPA from 7.18% in the previous year to 5.61% ending FY2020-21, which is a significant reduction of approx. 22% from the previous year."
- Highlighting the future strategies, CMD said that, “IREDA is geared up towards five-fold growth in the loan book from Rs28000cr (approx.) ending March 2021 to Rs1.35 Lakhcr ending March 2026. The company plans to increase the revenue per employee from Rs17cr (approx.) in FY 2020-21 to Rs55cr ending FY 2025-26 (approx.).” Read more
Published on: 4:00 pm
- HCL Technologies (HCL), a leading global technology company, has signed a multi-year strategic partnership with Proximus Group, Belgium’s leading digital services and communications solutions provider, to transform its data center business and create a resilient digital foundation.
- HCL will help Proximus and its internal business achieve a significantly higher flexibility and reliance as the foundation to drive future business innovation and accelerate growth in the Belgium and Netherlands market. HCL will launch a Hybrid Next-Generation Cloud portfolio to support Proximus’ large customer base and more than 11,000 employees. Read more
Published on: 3:50 pm
- IndusInd Bank on Tuesday acquired 50,00,000 Equity Shares of McLeod Russel India Limited (4.79%) after the invocation of the pledge of shares.
- “The Equity Shares of McLeod Russel India Ltd. held by Ichamati Investments Limited were pledged with the Bank for securing the outstanding dues of Mcleod Russel India Limited (MRIL), the Borrower Company. The Bank has invoked the pledge held on the aforesaid shares for recovery of its dues from MRIL,” the bank said in a regulatory filing on Wednesday.
- Mcleod Russel is engaged in cultivation & manufacturing of tea and has thirty-one tea estates in the Assam Valley and two in the Dooars region of West Bengal, three factories in Vietnam and six estates in Uganda. Read more
Published on: 3:39 pm
- Markets witnessed a volatile day of trade, with the benchmark index closing marginally lower as across the board profit booking weighed in.
- Both Nifty and Bank Nifty saw a sharp short covering rally during the closing part of the trade after taking a nose dive during the opening trade.
- Stocks from the PSE sector like Coal India, ONGC & OIL were among the outperformers adding fresh long positions, while the Financial stocks underperformed. Read more
Published on: 3:32 pm
- Tata Motors, in tie-up with Sipradi Trading, has launched yet another exciting product under its ‘New Forever’ range – the all-new NRG at a starting price of NPR 33.75 Lakhs. The all-new NRG is designed specifically for young and dynamic customers seeking a sporty SUV-like performance from their hatchback.
- Mayank Baldi – Head PVIB, Tata Motors, said, “We’re elated to launch the Tata NRG, a rugged version of our much-loved hatchback, in Nepal. With an expressive and bold design – true to its character, the NRG is the ultimate toughroader, crafted for those who want to create a different impression every day every moment. A bold new addition to the New Forever range, the NRG fits well with the increasing trend of bringing more SUV-like characteristics in hatch segment. Read more
Published on: 3:31 pm
- VRL Logistics Ltd has informed that lcRA Limited has reaffirmed the existing Long term rating at [lCRA] A+ (stable). The outlook on the long term rating is stable, indicative of low credit risk.
- The rating reaffirmation continues to factor in the established position of VRL Logistics Limited in the less-than-truck load (LTL) road transport segment, its extensive network in the country and the promoters’ experience of more than four decades in the road logistics industry.
- ICRA’s Stable outlook factors in the company’s established position in the market, strong customer base and its healthy financial profile. Read more
Published on: 3:28 pm
- Libas Consumer Products Ltd. has tied up with ‘Ethnicity’ to sell various products of ‘Libas’ like Kurtis, IndoWestern, and other accessories at various locations in Thane, Indore, and Pune.
- Ethnicity is a homegrown fashion brand in India. They retail in womenswear, menswear, kidswear, and accessories.
- Libas was incorporated in the year 2004 and listed with National Stock Exchange. The company’s portfolio includes fashion apparel and consumer product business. Read more
Published on: 3:24 pm
- Since Apr-June (Q1) 2010-11, Public Debt Management Cell (PDMC) (earlier Middle Office), Budget Division, Department of Economic Affairs, Ministry of Finance has been bringing out a quarterly report on debt management regularly. The current report pertains to the quarter April - June 2021 (Q1 FY22).
- During Q1 of FY22, the Central Government issued dated securities worth Rs3,18,493cr as against Rs3,46,000cr in Q1 of FY21, while repayment were at Rs1,05,186cr. The weighted average yield of primary issuances increased to 6.11% in Q4 FY21 from 5.80% in Q4 of FY21. The weighted average maturity of new issuances of dated securities was higher at 16.92 years in Q1 of FY22 as compared to 13.36 years in Q4 of FY21. Read more
Published on: 3:20 pm
- Shares of HDFC Asset Management Company (AMC) tumbles in Wednesday’s intra-day trade after 5% equity of the company changed hands on the counter via block deals.
- According to a Bloomberg report, HDFC AMC promoter Standard Life Investment had sought up to Rs3,000cr from HDFC AMC share sale, according to terms of the deal. The promoter was offering 10.6 million shares in HDFC AMC in an accelerated placement, according to terms of the deal.
- The floor price was fixed at Rs2,870, which is at a discount of 6.68% to Tuesday’s closing price. Read more
Published on: 3:11 pm
- Salasar Techno Engineering Ltd – one of the largest steel fabrication and infrastructure companies in India is planning to install a new Galvanization plant, adding to grow their workforce by 5-7% in the next 6 months.
- The company is looking forward to raising Capex by the installation of the new Galvanization plant. This facility will have a galvanization capacity of 96000 Metric tonnes per annum. To expand the plant the company is capitalising 50 Cr, which will be funded by the banks from internal accruals of the company.
- Presently, Salasar has about 1900 employees and labour on our payroll and they hire contractors on a need basis as per project requirement. The hiring process is expected to start soon and the employees will be allocated to different teams associated with the projects. Read more
Published on: 3:06 pm
- Global technology company ABB (India) Limited will provide electromagnetic brake systems (EMBR) for two compact strip production (CSP)casters at Tata Steel's flagship plant in Jamshedpur, India, working under contract from engineering and construction organization SMS Group.
- Jamshedpur, located in the eastern state of Jharkhand, is India's first planned industrial city and was established following the founding of Tata Iron and Steel Company by Jamsetji Tata and his son Dorabji Tata in the 1900s.
- ABB's scope of supply also includes DCS800DC drives, dry-type transformers, water cooling systems, commissioning services, and metallurgical performance evaluation. ABB is contracted through SMS which specializes in plant construction and mechanical engineering for the steel and nonferrous metals industry. Read more
Published on: 2:50 pm
- The Nifty Auto index rebounded from its early selling bias and was trading on a higher note during the second half of Wednesday's session amid broad-based buying. The index is in focus ahead of monthly sales data that is set to begin from October 01, 2021.
- The Auto index has floated between an intraday high and low of 10,715.65 and 10,559.40 respectively.
- At around 2.42 pm, the Nifty Auto was trading at 10,707.15 higher by 11.20 points or 0.10%. On the index, 8 scrips advanced and 7 scrips declined. Read more
Published on: 2:48 pm
- CARE Rating Limited has assigned/reaffirmed PSP Projects Limited’s credit rating for its long-term and short-term bank facilities Rs1,147cr based on the recent developments including the operational and financial performance of the company.
- The rating on long-term bank facilities Rs145cr (enhanced from Rs45cr) CARE A+; Stable rating has been reaffirmed. The credit rating agency also reaffirmed CARE A+; Stable / CARE A1+ rating on long-term / short-term bank facilities Rs960cr (Enhanced from Rs565cr). The rating on short-term bank facilities Rs42cr has been assigned at CARE A1+.
- At around 2.54 pm, PSP Projects Ltd was trading at Rs490.55 per piece up by Rs9.65 or 2.01% from its previous closing of Rs480.90 per piece on the BSE. Read more
Published on: 2:48 pm
- Godrej Properties Ltd. (GPL) has entered into an agreement to redevelop a land parcel in the upscale neighbourhood of Wadala, Mumbai.
- It spread across 7.5 acres, this project will offer approximately .15 million sq. mts. (approximately 1.6 million square feet) of a saleable area comprising primarily of residential apartments of various configurations, Godrej Properties said in the filing.
- In the filing, the company said that the land parcel is situated in a marquee residential location and is in very close proximity to Matunga Five Gardens. On its eastern side, the development will enjoy uninterrupted views of the eastern seaboard. Read more
Published on: 2:46 pm
- Brickwork Ratings revises the Outlook to Stable and reaffirms the ratings for the Bank Loan Facilities of Rs734.50cr at 'BWR A-/Stable' and withdraws ratings of Non-Convertible Debentures amounting to Rs97.14cr of Elecon Engineering Company Ltd
- Brickwork Ratings (BWR) has essentially relied on the audited financial results of Elecon Engineering Company Ltd (EECL or the company) up to FY21, quarterly financials of Q1FY22, projections of FY22, and publicly available information and information/clarifications provided by the company.
- BWR has withdrawn the rating of BWR A -/Negative for the NCDs amounting to Rs97.14cr as the debentures have been fully redeemed before the maturity date. The confirmation to this effect has been obtained from the issuer and debenture trustee. Read more
Published on: 2:32 pm
- American Airlines is opening new doors across India this fall thanks to a new codeshare agreement with IndiGo, India’s leading airline. The agreement, announced today, will place American’s code on 29 of IndiGo’s domestic routes in India, providing a convenient option for American Airlines customers arriving on the carrier’s new Bengaluru (BLR) and Delhi (DEL), India, flights.
- The codeshare, which will require U.S. and Indian governments’ approvals, is expected to begin in October, as American launches new service between New York (JFK) and DEL on Oct. 31 and between Seattle (SEA) and BLR on Jan. 4, 2022. Read more
Published on: 2:30 pm
- Indices recover losses to trade flat as IT stocks rally; Metal stocks surge over 2.5%.
- BSE Sensex is currently 59,603.70 down 63.9 points or 0.11%.
- Nifty50 is currently 17,757.20 up 8.60 points or 0.05%. Nifty Bank is 37,843.25, down 0.27%. Mid-cap Index is up 1.54%. Read more
Published on: 2:14 pm
- CRISIL Ratings has upgraded its rating on the Tier I bonds (under Basel III) of Canara Bank to ‘CRISIL AA+/Stable’ from ‘CRISIL AA/Stable’. CRISIL Ratings has also reaffirmed its ‘CRISIL AAA/Stable/CRISIL A1+’ ratings on the Tier II Bonds (under Basel III) and Lower Tier II bonds (under Basel II), and the short-term rating on the certificate of deposit.
- The company stock was bullish on Wednesday and at around 2.16 pm, Canara Bank was trading at Rs168.60 per piece up by Rs5.05 or 3.09% from its previous closing of Rs163.55 per piece on the BSE. Read more
Published on: 2:07 pm
- SpiceJet, India’s favourite airline and EaseMyTrip, India’s second-largest online travel platform, have announced an exclusive partnership to offer a customised and hassle-free experience for holiday bookings for the upcoming season.
- Through this partnership, the holiday booking services of SpiceJet will be exclusively powered by EaseMyTrip. As a part of this association, EaseMyTrip will offer a Holiday booking platform to SpiceJet and customers who wish to book holiday services can book the same from this platform.
- The partnership will offer great destination choices for the customers from the likes of a frequented destinations like Kashmir and Goa to exquisite destinations like Jaisalmer. Read more
Published on: 1:55 pm
- Indian IT companies tracked global technology stocks on Wednesday with Nifty IT diving by at least 1% or 506 points led by broad-based selloff across heavyweights. The index has hovered between an intraday high and low of 35,284.90 and 34,733.95 respectively.
- Technology stocks witnessed a massive profit booking on Wall Street that can lead to further pressure in Indian IT stocks. The technology stocks are on a bear run after the US bond yields spike to 1.54%, the highest in over 5 months while oil hits US$ 80. Nasdaq cracks over 2.83% or 423 points overnight. Further, equities are expected to be volatile due to US debt default worries, a steep drop in US stocks overnight and concerns about slowing the global economy. Read more
Published on: 1:49 pm
- Waaree Energies Limited, one of the major players in the solar energy industry in India has filed its draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India (Sebi) to raise funds via IPO. The issue includes a fresh issue of equity shares worth Rs 1350 cr as well as an OFS component.
- The Issue comprises a Fresh Issue of equity shares of Face Value of Rs10 each aggregating to Rs1,350cr and an Offer for Sale (OFS) of 4,007,500 equity shares by existing shareholders and promoters. The OFS consists of the sale of 1,315,000 equity shares each by Hitesh Chimanlal Doshi, Virenkumar Chimanlal Doshi & Mahavir Thermoequip Pvt Ltd and up to 40,000 by Samir Surendra Shah and up to 22,500 equity shares by Nilesh Gandhi Jointly with Drasta Gandhi. Read more
Published on: 1:45 pm
- KPI Global Infrastructure has commissioned a 600 KW (AC)/693 KW (DC) solar power project for N.J. Textile Industries, Surat.
- The project has been commissioned under 'Captive Power Producer (CPP) business vertical of the Company.
- At around 1.42 pm, KPI Global was trading at Rs133 per piece flat compared to the previous closing on Sensex. Read more
Published on: 1:44 pm
- The fashion retail segment is witnessing strong recovery in sales post reopening after Covid 2.0. ICRA’s channel checks suggest that during the months of July and August 2021, the segment witnessed a healthy recovery upto 70-85% of pre-covid level of sales.
- Though the average ticket size has moderated from FY2021 levels (though remained higher than the pre-Covid levels), the footfalls have increased, suggesting that this time around consumers are more comfortable in making repeat visits. This current recovery is in contrast to a relatively muted recovery (upto 48-50% of pre-Covid sales) reported during Q2 FY2021 following the reopening after the first wave. Read more
Published on: 1:35 pm
- MTAR Technologies has been conferred the prestigious National Level Champion Award from the Society of Indian Defence Manufacturers (SIDM) under Import substitution for Mission-Critical Parts/Systems/Sub-systems medium category for Ball Screws by Honourable Defence Minister of India, Rajnath Singh at New Delhi on September 28, 2021.
- Parvat Srinivas Reddy, Managing Director said, "We are extremely proud to receive the National Level Champion Award from Defence minister for contributing towards the goal of import substitutes and Atmanirbhar Bharat. Since its inception MTAR has been driven by a desire to indigenize technologies for the nation to benefit the greater community. Accordingly, we have always invested in futuristic technologies, infrastructure and knowledge to indigenize the technologies for the nation." Read more
Published on: 1:30 pm
- BSE Sensex is currently 59,462.93 down 204.67 points or 0.34%.
- Nifty50 is currently 17,704.35 down 44.25 points or 0.25%. Nifty Bank is 37,783.85, down 0.42%. Mid-cap Index is up 1.32%.
- Coal India, NTPC, Sun Pharma, Power Grid, and Hindalco are the top gainers. Ultratech Cement, HDFC, Asian Paints, Kotak Bank, and Tech Mahindra are the top losers.
- Nifty PSU Bank, Pharma, Metal and Realty stocks trade over 2% higher. Nifty IT, FMCG, Banking and Financial Services stocks remain under pressure.
- Out of 50 stocks traded on the BSE, 23 advanced and 27 declined. Read More
Published on: 1:26 pm
- IRIS Business Services Limited has informed that the credit rating agency ICRA has upgraded the long-term rating of the company to [ICRA] BB(stable) from BB-(stable) and the short-term rating to [ICRA] A4+ from A4, with respect to the bank facilities of Rs18cr, as well as an enhancement of Rs1.75cr to the bank facilities.
- In addition, it has been stated by ICRA that the outlook on the long-term rating is Stable.
- According to the rationale report, the ratings upgrade for Iris Business Services Limited (IBSL) factors in the sustained growth in scale of operations with improved profitability and liquidity, which is likely to sustain, going forward as well. Read more
Published on: 1:17 pm
- With a vision to be a fully integrated and globally competitive textile manufacturer, SVP Global Ventures Ltd, India's largest compact cotton yarn manufacturer is foraying into technical textiles. The company is investing around Rs100cr in setting up a 4,375 MT per annum green-field facility for technical textiles at Jhalawar, Rajasthan.
- The company plans to manufacture protective uniforms and functional garments, medical textile, mobil tech, anti-odor, and antibacterial knitted fabric for medical and cosmetic uses in apparel and expand gradually in other products. The company plans to commence commercial production in 12 to 15 months. Read More
Published on: 1:00 pm
- The Nifty FMCG stocks declined to go with bearish markets on Wednesday. The Index shed points, after resisting the weak markets on Tuesday. Jubilant Foodworks advanced 2% while United Breweries, Varun Beverages, and Emami also surged 1%.
- Godrej Consumer tanked 3% while heavyweights Hindustan Unilever, Britannia, Dabur, and Tata Consumer were also under pressure.
- Indices were lower for the second straight day with IT, financials cracking amid weak global cues. At around 1.10 pm, Sensex was trading at 59,275.27 down 392.33 points or 0.66% and Nifty50 at 17,663.30 down 85.30 points or 0.48%. Read more
Published on: 12:52 pm
- The aggregate indebtedness of states – measured by debt to gross state domestic product (GSDP) – is expected to remain elevated at ~33% this fiscal, despite the post-pandemic recovery bolstering the shrinking revenue graph.
- The ratio had risen to a decadal high of 34% last fiscal. Sticky and elevated revenue expenditure and the need for higher capital outlay will keep borrowings up this fiscal.
- That said, the Centre’s decision to provide Goods and Services Tax (GST) compensation loans for the second straight year at a higher quantum of ~Rs1.4 lakh crore (Rs0.9 lakh crore in fiscal 2021) will provide some respite. Read more
Published on: 12:38 pm
- The private banks were on a bearish bandwagon dragging the broader Bank Nifty on Wednesday. The index has extended its downside despite the majority of listed stocks trading on a higher note. Index heavyweight HDFC Bank coupled with other major private lenders like Kotak Bank, Axis Bank and ICICI Bank has recorded a sharp free fall. The performance comes after further development in the bank privatisation process.
- At around 12.31 pm, Bank Nifty was trading at 37,676.55 lower by 268.45 points or 0.71%. The index has touched an intraday high and low of 37,721.40 and 37,371.05 respectively.
- Whereas, AU Small Finance Bank was the top gainer soaring 3.6%. Read more
Published on: 12:36 pm
- ICRA Limited has reaffirmed its credit rating in respect of TCI Express Limited’s Commercial Paper Programme as A1+.
- “Based on a review of the latest developments, the Rating Committee of ICRA, after due consideration has reaffirmed the short-term rating at ICRA A1+. Instruments with this rating are considered to have a very strong degree of safety regarding timely payment of financial obligations. Such instruments carry the lowest credit risk.
- In any of your publicity material or other documents wherever you are using the above Rating(s), it should be stated as ICRA A1+,” company shared ICRA’s statement. Read More
Published on: 12:31 pm
- Gallantt Ispat Ltd has informed that the Board of Directors has approved an investment upto Rs135cr in the Equity Capital of Galantt Industry Private Limited (GIPL), Wholly Owned Subsidiary of the Company, inclusive of earlier sanctioned investment limits of Rs70cr.
- The Board therefore, has approved a fresh investment of Rs65cr in the equity capital of GIPL in trenches under different modes of subscribing, issuing and allotment of shares by GIPL and the mode of investment shall be decided as per the convenience of both the Companies.
- On Wednesday at around 12:31 PM, Gallantt Ispat was trading at Rs57.40 apiece up by Rs4 or 7.49% from its previous closing of Rs53.40 apiece on the BSE. Read More
Published on: 12:30 pm
- Benchmark market indices remain bearish despite a rally in Pharma and Realty stocks.
- BSE Sensex is at 59,268.74 down 398.86 points or 0.67%.
- Nifty50 is at 17,664.75 down 83.85 points or 0.47%. Nifty Bank is 37,685.85, down 0.68%. Mid-cap Index is up 1.12%.
- Coal India, NTPC, IOC, Power Grid, and Sun Pharma are the top gainers. Kotak Bank, HDFC, Ultratech Cement, Tech Mahindra, and Asian Paints are the top losers.
- Nifty IT, Banking and Financial Services stocks drag the most in bearish markets. Nifty PSU Bank, Pharma, Metal and Realty stocks trade higher.
- Out of 50 stocks traded on the BSE, 21 advanced and 29 declined. Read More
Published on: 12:30 pm
- Asian stock markets declined on Wednesday trade tracking an overnight tumble on Wall Street, with the Nasdaq Composite fell nearly 3% as bond yields rise.
- Chinese tech shares in Hong Kong also declined, with Tencent tumbled over 2.7% and Alibaba down 2.52%.
- The Hang Seng Tech index fell in the morning trade however it erased early losses to trade marginally higher by 0.55%. Hong Kong-listed shares of China Evergrande Group, however, surged after the media reports said that the developer announced it will sell a $1.5 billion stake in Shengjing Bank to a state-owned asset management firm. Read more
Published on: 12:10 pm
- The Nifty Metal index surged 1% despite bearish markets on Wednesday. The Index rose for third trading session in a row. Coal India Limited soared 12% during intraday trade, re-enters list of top-50 most valued firms by m-cap. National Aluminium (NALCO) and Steel Authority of India (SAIL were also in the fast lane. APL Apollo Tubes sank 2%.
- Sensex shed 500 pts, Nifty near 17,650; IT, financials cracked amid weak global cues. At around 12.10 pm, Sensex was trading at 59,260.50 down 407.1 points or 0.68% and Nifty50 at 17,660.45 down 88.15 points or 0.5%.
- The Nifty Metal was trading at 5,588.45 up 53.85 points or 0.97%, touching a high of 5,610.05 and low of 5,492.15 during intraday trade on Wednesday. Read More
Published on: 12:09 pm
- As part of Government of India’s initiative towards enhanced transparency and ease of doing business, Bharat Heavy Electricals Limited (BHEL) has been spearheading procurement of goods and Services through the Government e-marketplace (GeM) portal, which is a Unified Public Procurement Portal for goods and services.
- The company’s procurement through GeM has crossed Rs1,500cr in the first six months of the current fiscal, as against Rs389cr in the entire 2020- 21.
- Major procurements through GeM portal include Steel, Cement, Cables, various sub-assemblies, etc. The company was also ranked No. 1 among top 20 PSUs for procurements from this portal during the first quarter of current year. Read more
Published on: 11:56 am
- Ruchi Infrastructure Ltd (RIFL) has informed that CARE has re-affirmed the rating assigned to the bank facilities of the Company on September 27, 2021.
- There is no change/revision in the existing rating 'BB-/Stable'.
- The rating assigned to the bank facilities of Ruchi Infrastructure Limited (RIFL) continues to remain constrained by modest scale of operations, stretched liquidity with sizeable debt repayment obligations and exposure of RIFL to group entities by way of investment and advances; however, with reduction in the same over last few years. Read More
Published on: 11:45 am
- Promoter Vinod Goenka HUF has acquired 31554 equity shares (0.013%) of DB Realty Limited to increase its shareholding to 4162321 (1.7111%) in the company through the market purchase.
- The total diluted share/voting capital of DB Realty after the said acquisition is Rs243,25,87,820/-, the company said in a filing on Tuesday.
- At around 11.48 am, D B Realty Ltd was trading at Rs27.45 per piece up by Rs0.45 or 1.67% from its previous closing of Rs27 per piece on the BSE. Read More
Published on: 11:36 am
- GRM Overseas Ltd has informed to the exchange regarding the appointment of Jai Kishan Garg as Independent Director, Nidhi as Independent Director and Mamta Garg-Reappointment of Retiring Director for a period of five years.
- Jai Kishan Garg has rich experience across various industries. He attained his Diploma in Mechanical Engineering. Since then, he has worked closely in several organizations and supported the development businesses. He possesses a deep knowledge of the automation and manufacturing industry. Read More
Published on: 11:30 am
- Indices fall further as IT, banking, and financial services stocks drag.
- BSE Sensex is currently 59,176.84 down 490.76 points or 0.82%.
- Nifty50 is currently 17,641.35 down 107.25 points or 0.6%. Nifty Bank is 37,591.60, down 0.93%. Mid-cap Index is up 0.94%.
- Coal India, NTPC, IOC, Power Grid, and ONGC are the top gainers. Tech Mahindra, Kotak Bank, ICICI Bank, Ultratech Cement, and HDFC Bank are the top losers.
- Nifty IT, Banking and Financial Services stocks drag the most in bearish markets. Nifty PSU Bank, Metal stocks trade higher.
- Out of 50 stocks traded on the BSE, 20 advanced, 29 declined and 1 unchanged. Read More
Published on: 11:25 am
- SRF Limited stocks in the fast lane after the company has fixed the record date for bonus shares.
- The Company informed that the Board of Directors has fixed Thursday, October 14, 2021 as the Record Date, for the purpose of ascertaining the eligibility of shareholders entitled for issuance of Bonus Equity Shares of the Company in the proportion of 4 Equity Share of Rs. 10/- each for every 1 existing Equity Shares of Rs. 10/- each, subject to the approval of shareholders which is being obtained through Postal Ballot. Read more
Published on: 11:16 am
- SMS Lifesciences India Limited informed the exchanges Tuesday that Venkata Chaitanya Gopineedi has been appointed as Director in the Board of the Mahi Drugs Private Limited (a wholly-owned subsidiary of the Company), in the Executive category, in the ninth Annual General Meeting held on September 28, 2021), with a monthly remuneration of Rs2 lakh.
- At around 11.20 am, SMS Lifesciences India Ltd was trading at Rs725.85 per piece down by Rs2.6 or 0.36% from its previous closing of Rs728.45 per piece on the BSE. Read More