Published on: 5:05 pm
- Aurionpro Solutions Ltd has announced signing up for the two strategic deals in the segment. It has won two separate orders for the setting up and designing of the data centers for two of the marquee names in the Indian market.
- The first order is from Tata Power, one the largest private power sector companies India, in which Aurionpro will support Tata Power to design and build Data Centre and Disaster Recovery Centre for process automation (SCADA) for its Power Plants.
- The entire power management and critical operations technology of the state of Maharashtra will be managed by this Data centre being built by Aurionpro. Read more
Published on: 5:00 pm
- NMDC Limited has relieved Alok Kumar Mehta, Director (Commercial), from the services of the company on September 30, 2021 (A.N.) on attaining the age of superannuation.
- Accordingly, he ceased to be a Director on the Board of the Company with effect from October 1, 2021, the company said in a filing on Friday.
- NMDC Ltd ended at Rs143.75 per piece up by Rs0.8 or 0.56% from its previous closing of Rs142.95 per piece on the BSE. Read more
Published on: 4:45 pm
- The Indian Energy Exchange traded 8,997 MU electricity volume and achieved 59% yoy growth in September’21. According to the power demand data published by the National Load Dispatch Center, the national peak demand in September’21 saw a 2% YoY increase, with the highest ever peak demand at 180.7 GW, while energy consumption at 114.5 BU was flat during the month.
- Cumulatively, for the second quarter of the fiscal year 2022, the Exchange Market achieved significant growth in volume. The electricity market achieved 25,857 MU volume during the second quarter resulting in 57% yoy growth across market segments. Read more
Published on: 4:45 pm
- Vedavaag Systems Limited has signed a MoU with Kiya Agro Industries Private Limited, Mumbai to launch an eCommerce platform and Mobile App to build market place for Agri produce/Agri Commodities.
- The MoU envisages incorporating a subsidiary namely Vedavaag Kiya eCommerce Pvt Ltd with an equity contribution of 51% from Vedavaag Systems Limited, 40% from Kiya Agro Industries Private Limited and the balance 9% from the promoters of Vedavaag Systems Limited.
- Kiya Agro Industries is into Agri Commodities trading, exports and imports. Kiya has made a turnover of Rs133cr in the current year up to Aug 2021 and is targeting a turnover of Rs400cr for the current financial year. Kiya Agro has good connect with domestic Agri traders, as well with overseas buyers of agro commodities. Read more
Published on: 4:35 pm
- Muthoot Capital Services Limited has completed a securitization transaction of Rs121.09cr on September 30, 2021.
- “This was the first securitization / direct assignment transaction carried out by the Company during the FY 2021 - 2022. The entire pool is from the non - priority sector and has been taken after considering the guidelines prescribed by the Reserve Bank of India in this regard,” the company said in a filing on Friday. Read more
Published on: 4:23 pm
- IndiaMart InterMesh Ltd. has made an additional investment of Rs10cr to acquire a 7% stake in Mobisy Technologies (MTPL). The total shareholding of the company in MTPL, post this investment, will be 15.98%.
- MTPL is the owner of, Biz om' which is a Bengaluru-based SaaS start-up offering Sales Force Automation and Distributor Management System to medium and large businesses, co-founded by Lalit Bhise, Vasudeva M and Shree Bhise. It offers a mobile-first cloud solution that enables the digital transformation of sales and supply channels of consumer brands distributing through retail stores. Read more
Published on: 4:15 pm
- Ipca Laboratories Ltd has informed the exchanges that the Company's wholly owned subsidiary, lpca Pharmaceuticals, Inc., USA has acquired further 20% share capital of Bayshore Pharmaceuticals LLC, a New Jersey limited liability company for cash at US $1.2 millions on September 30, 2021.
- With this acquisition, Bayshore is now wholly owned by lpca Pharmaceuitcals, Inc., Company's wholly owned subsidiary.
- For its financial year ended March 31, 2021, Bayshore had a total income of Rs164.07cr and EBITDA of Rs15.83cr. Read more
Published on: 4:05 pm
- National Aluminium Company Limited (NALCO) declared a final dividend of 20% i.e. Rs1 per equity share, during the 40th Annual General Meeting (AGM) of the Navaratna CPSE, held today at Bhubaneswar. The total dividend pay-out for the financial year 2020- 21 comes to Rs644.27cr crore, as against Rs279.84 crore declared and paid during the previous financial year 2019-20.
- The company stock ended at Rs95.45 per piece up by Rs2.1 or 2.25% from its previous closing of Rs93.35 per piece on the BSE. Read more
Published on: 3:55 pm
- CRISIL Ratings has reaffirmed its ‘CRISIL A1+’ rating on the Rs1000cr commercial paper programme of PNB Gilts Ltd.
- According to the rationale, the rating continues to reflect expectation of strong support from the parent, Punjab National Bank. The rating also factors in healthy capitalisation and strong liquidity.
- These rating strengths are partially offset by volatility in earnings because of interest rate movements and lack of diversity in revenue. Read more
Published on: 3:50 pm
- HCL Technologies Limited (HCL) announced on Thursday the availability of DRYiCE iAutomate (iAutomate), an AI-powered run book automation product, on Google Cloud Marketplace. This enables customers to easily access iAutomate to simplify and automate the enterprise IT operations lifecycle.
- The iAutomate partnership with support for Google Cloud will help customers with self-service driven identification of automation use-cases and automation of redundant tasks so that employees can focus on high-value activities.
- It will also ensure compliance by avoiding critical outages and reducing operational risks. The product also offers more than 1,500 reusable and configurable runbooks available out-of-the-box. Read more
Published on: 3:45 pm
- Hindustan Zinc Ltd has informed the exchanges that Sandeep Modi currently Deputy CFO, has been appointed as Interim Chief Financial Officer (KMP) of the Company w.e.f. October 01, 2021.
- Sandeep Modi is a Member of Institute of Chartered Accountants of India and has a varied experience of over 16 years in finance, accounting, corporate banking, taxation, MAS, etc.
- On Friday, Hindustan Zinc ended at Rs306.50 apiece down by Rs4.95 or 1.59% from its previous closing of Rs311.45 on the BSE. Read more
Published on: 3:32 pm
- Markets finally took a breather ending its winning streak for the five consecutive weeks, to close in the red as across the board profit booking weighed in. The index Option gamma writers ran for a cover as the India VIX index saw a sharp uptick. Nifty index underperformed the Bank Nifty index by ~0.2% as both the indices witnessed an unwinding of long positions, to close the week in the red.
- On the weekly charts, the Nifty has formed a bearish dark cloud cover candlestick while the Bank Nifty index has formed a bearish candlestick pattern, indicating a possibility of a continued profit booking. IT stocks like TCS, Tech Mahindra and Infosys were among the top underperformers, witnessing a rollover of fresh short positions going into the October series. Read more
Published on: 3:21 pm
- Markets witnessed a Volatile day of trade, with the benchmark index closing lower as across the board profit booking weighed in. Both Nifty and Bank Nifty saw a selling pressure for the major part of the day to close ~0.5% lower.
- Nifty PSU Bank index was among the outperformers with stocks from like PNB, Canara & BOB adding long positions during the trade while private bank stocks continued to underperform. Nifty Midcap 100 index closed ~0.05% lower. Market breadth ended in the favour of the advances with the advance/decline ratio closing at 3:2x. Bank Nifty saw the addition of short positions during the day. Read more
Published on: 3:18 pm
- Ambuja Cements said in the regulatory filing on Friday it has successfully started the Commercial Production of Clinker and Cement in its newly commissioned Marwar Greenfield Project in Nagaur District, in Rajasthan.
- “In continuation to our letter dtd: 21st August 2021, we would like to inform you that the Company has w.e.f 30th September 2021, successfully started the Commercial Production of Clinker and Cement at our newly commissioned Marwar Greenfield Project in Nagaur District, in the state of Rajasthan,” the cement said in the filing.
- The stock trading at Rs401.60 up by Rs0.85 or 0.21% from its previous closing of Rs400.75 on the BSE. Read more
Published on: 3:16 pm
- Mahindra & Mahindra Ltd. tock emerged as one of the top gainers overall on Friday despite bearish markets after the company today announced that it is overall auto sales (passenger vehicles + commercial vehicles +exports) for the month of September 2021 stood at 28112 vehicles.
- In the Utility Vehicles segment, Mahindra sold 12863 vehicles in September 2021. The Passenger Vehicles segment (which includes UVs, Cars, and Vans) sold 13134 vehicles in September 2021. Exports for the month of September 2021 were at 2529 vehicles.
- Towards close of trade on Friday, Mahindra & Mahindra Ltd was trading at Rs828.35 per piece up by Rs25.4 or 3.16% from its previous closing of Rs802.95 per piece on the BSE. The scrip opened at Rs802.70 and has touched a high and low of Rs831.05 and Rs788 respectively. Read more
Published on: 3:09 pm
- Strides Pharma said in the BSE filing that Shasun Pharmaceuticals Limited (Shasun) merged with Strides Pharma Science Limited (‘Strides’) (then known as Strides Arcolab Limited) through a Scheme of Amalgamation between Shasun and Strides (‘Amalgamation’) sanctioned by the Hon’ble High Court of Judicature at Bombay and Hon’ble High Court of Judicature at Madras.
- The Scheme was effective November 19, 2015, Strides said.
- Consequent to the said Amalgamation, the then Promoters of Shasun were classified as part of the Promoters/ Promoter Group of Strides, and a Shareholders’ Agreement was entered amongst Strides, the Promoters of Strides and the Promoters of erstwhile Shasun on May 16, 2016 (‘Shareholders’ Agreement’), Strides Pharma said in the filing. Read more
Published on: 3:05 pm
- Tata Motors Limited on Friday announced its sales in the domestic & international market, for Q2 FY22, which stood at 1,71,270 vehicles, compared to 1,10,345 units during Q2 FY21. It grows by 49% over Q1 FY22 and by 55% over Q2 FY21.
- The company's domestic sales stood at 59,156 units in September 2021, rising by a 28% yoy.
- In term of segment-wise, Girish Wagh, Executive Director, Tata Motors Ltd. said, “Tata Motors’ Commercial Vehicle domestic sale in Q2 FY22 at 78,226 units was ~80% higher than the previous quarter and 50% higher the same quarter last year (Q2 FY21). Read more
Published on: 3:03 pm
- SML ISUZU Ltd has sold 716 vehicles during September 2021, an increase of 99% from 360 vehicles in September 2020. Total vehicles sold from April to September 2021 was 2659, an increase of 124% YoY from 1189 vehicles during the same period last year.
- The company stock was bullish and around 3.05 pm SML ISUZU Ltd was trading at Rs590.10 per piece up by Rs30.2 or 5.39% from its previous closing of Rs559.90 per piece on the BSE.
- The scrip opened at Rs561.45 and has touched a high and low of Rs601.05 and Rs555.30 respectively. Read more
Published on: 3:01 pm
- Natco Pharma announces today that its marketing partner Breckenridge Pharmaceutical, Inc., US has launched the 10 mg strength of Everolimus Tablets (generic for Afinitor) in the US market.
- The U.S. Food and Drug Administration previously granted final approval of this Abbreviated New Drug Application.
- According to industry sales data, the 10mg strength of Afinitor generated annual sales of $392 million during the twelve months ending July 2021, the company said in the release. Read more
Published on: 2:45 pm
- Granules India Limited has informed that the Share Transfer and Stakeholders Relationship Committee of the Board of Directors October 1, 2021 has approved to allot 3,30,980 equity shares in consequent to exercise of stock options under ESOS 2009.
- Granules India Limited is a large-scale vertically integrated company founded in March 18, 1991 manufacturing Active Pharmaceutical Ingredient (API), Pharmaceutical Formulation Intermediate (PFI) and Finished Dosage (FD).
- The current market cap of the company is Rs7,935.50cr. Read more
Published on: 2:45 pm
- The Allotment Committee - NCDs of Shriram Transport Finance Company Limited in its meeting held on Thursday, approved and allotted 1500 senior secured rated, listed, principal-protected market-linked redeemable, Non-convertible debentures (NCD) of the face value of Rs10 lakh each on a private placement basis aggregating to Rs150cr.
- “The Proceeds of the issue will be utilized for the financing of Commercial Vehicles and other general purposes of the company. The breakup of the utilization of proceeds is as follows: Re-financing/Onward Lending – 75 % and General Corporate Purpose – 25%,” the company said in a filing. Read more
Published on: 2:30 pm
- Indices continue the bearish tone as FMCG, IT, and Financial stocks drag.
- BSE Sensex is currently 58,734.72 down 391.64 points or 0.66%.
- Nifty50 is currently 17,509.50 down 108.65 points or 0.62%. Nifty Bank is 37,141.90, down 0.76%. Mid-cap Index is down 0.21%. Read more
Published on: 2:21 pm
- Eicher Motors Limited has informed the exchange on Friday regarding its monthly sales data for September 2021.
- The Company has sold total Eicher trucks and buses at 6014 units as compared to 3450 units in the same month last year, recording a 74.3% yoy growth. The company sold a total of 20515 units a year to date compared to 10086 units during the same period last year, a growth of 103.4% yoy.
- Further, domestic sales recorded 77.8% growth to 5,226 units in September 2021 as against 2940 units during last year. Domestic sales during the year to date were 16614 units, an increase of 99% compared to 8348 units during the same period last year, said company in a regulatory filing. Read more
Published on: 2:19 pm
- L&T Technology Services Limited on Thursday announced that its award-winning healthcare solution Chest rAI in collaboration with global technology leader Intel Corporation.
- Chest rAI, LTTS’ AI-based chest X-Ray analysis system to assist radiologists in improving speed and accuracy of diagnosis, will be fueled by the Intel OpenVINO Toolkit and AI Analytics Toolkit to run optimized AI inferencing models on 3 rd Gen Intel Xeon Scalable processors with built-in AI accelerators.
- LTTS’ AI-infused solution enables radiologists by fast triaging abnormalities in X-Ray, annotating and automatic report generation with significantly improved performance. The benefits of Chest rAI include increased throughput with the ability to extract more actionable information and to reduce waiting time for radiologists. Read more
Published on: 2:08 pm
- SRF Limited informed the exchanges Thursday that the project for setting-up a range of dedicated plants to produce specialty chemicals has been completed and capitalized.
- The company had informed on February 4, 2020, about the Board’s approval for a project for setting up a range of dedicated plants to produce specialty chemicals.
- “The said project has been commissioned and capitalized on September 29, 2021, at a cost of Rs23.5cr (approx.). With this, the entire project as above has been completed and capitalized,” the company said in a filing. Read more
Published on: 2:07 pm
- Prime Minister Narendra Modi launched Swachh Bharat Mission-Urban 2.0 and Atal Mission for Rejuvenation and Urban Transformation 2.0 on Friday. Speaking on the occasion, the Prime Minister said In 2014, the countrymen took a pledge to make India open defecation free - ODF and they fulfilled this pledge with the construction of more than 10 crore toilets. Now the goal of 'Swachh Bharat Mission-Urban 2.0' is to make the cities Garbage-Free, completely free of garbage, he said. The Prime Minister underlined the scope of the country's target in the next phase of Mission AMRUT as 'Improving sewage and septic management, making our cities water safe cities and ensuring that no sewage drains anywhere in our rivers’.
- Prime Minister remarked that the journey of Swachh Bharat Abhiyan and AMRUT Mission so far makes every countryman proud. He encapsulated the feeling when he said “In this, there is a mission, there is respect, there is dignity, there is also the ambition of a country and there is also unmatched love for the motherland”. Read more
Published on: 2:01 pm
- Bajaj Housing Finance Limited (BHFL), a 100% subsidiary of Bajaj Finance Limited, has revised its home loan interest rate to 6.70%* p.a. from 6.75% p.a. for salaried and professional applicants. Applicants with good credit, income and employment profiles can apply today and save substantially by availing of this new interest rate. Customers with an existing home loan can also avail of the new rate by opting for a Home Loan Balance Transfer.
- Eligible applicants can transfer the balance amount on their home loan to Bajaj Housing Finance Limited and avail of the reduced interest rate. The Home Loan Balance Transfer product comes with a Top-up Loan facility, where an applicant has the option to avail of a sizeable top-up loan of Rs1cr*, or even higher, basis eligibility. Read more
Published on: 1:53 pm
- Mumbai-based PKH Ventures Ltd, a diversified company undertaking business in three verticals, namely, Construction & Development, Hospitality and Management Services is eyeing to raise money from the primary markets. Through its initial public offering it will be offering and aggregate of 29.27 million shares, fresh issue and an offer for sale, at a face value of Rs5 each.
- According to market sources, the company looks to raise approximately Rs500cr. Read more
Published on: 1:45 pm
- CRISIL Ratings has upgraded its rating on the tier I bonds (under Basel III) of Punjab National Bank to ‘CRISIL AA/Stable’ from ‘CRISIL AA-/Stable’. CRISIL Ratings has also reaffirmed its ‘CRISIL AA+/Stable/CRISIL A1+’ ratings on the Tier II Bonds (under Basel III), Lower Tier II Bonds (Under Basel II), Upper Tier II Bonds (Under Basel II), Perpetual Tier I Bonds (Under Basel II) and Certificate of Deposits.
- CRISIL Ratings has also withdrawn its rating on the Upper Tier II bonds (under Basel III) of Rs2500cr in-line with its withdrawal policy. CRISIL has received independent verification that these instruments are fully redeemed.
- The upgrade in the rating of Tier I bonds (under Basel III) factors in improved position of PNB to make future coupon payments, supported by an adjustment of accumulated losses with share premium account, and the improved capital ratios. Read more
Published on: 1:43 pm
- The gross GST revenue collected in the month of September 2021 is Rs1,17,010cr of which CGST is Rs20,578cr, SGST is Rs26,767cr, IGST is Rs60,911cr (including Rs29,555cr collected on import of goods) and Cess is Rs8,754cr (including Rs623cr collected on import of goods).
- The government has settled Rs28,812cr to CGST and Rs24,140cr to SGST from IGST as regular settlement. The total revenue of the Centre and the States after regular settlements in the month of September 2021 is Rs49,390cr for CGST and Rs50,907cr for the SGST. Read more
Published on: 1:43 pm
- The government's national policy think tank, National Institution for Transforming India (NITI Aayog) has joined hands with Amazon Web Services (AWS), and Intel to establish a new experience studio at the NITI Aayog Frontier Technologies Cloud Innovation Center (CIC). Located in NITI Aayog’s New Delhi premises, the studio will be a hub for collaboration and experimentation to enable problem-solving and innovation between government stakeholders, startups, enterprises, and industry domain experts.
- As per Niti Aayog, the studio will help showcase the potential of technologies such as artificial intelligence (AI), machine learning (ML), Internet of Things (IoT), augmented reality and virtual reality (AR/ VR), blockchain, and robotics to accelerate their application in public sector use cases. The studio will encourage open innovation and serve as a hub for government, healthcare, education, and nonprofit startups from India to showcase their solutions. It will also provide startups with an option to access the necessary support to enhance and scale their solutions. Read more
Published on: 1:35 pm
- ICRA has reaffirmed the credit rating with respect to Certificate of Deposits Programme Rs3,000cr of Karur Vysya Bank at ICRA AI +.
- Karur Vysya Bank Ltd is currently trading at Rs47 down by Rs0.9 or 1.88% from its previous closing of Rs47.90 on the BSE. Read more
Published on: 1:33 pm
- State-owned ONGC's wholly-owned subsidiary, ONGC Videsh has spudded its first well Kanchan#1 in Block SS04, Bangladesh at Maheshkhali Island.
- This exploratory well is planned to be drilled to a depth of 4200 m and will be targeting two prospective formations. This well marks the beginning of exploratory drilling in Bangladesh by ONGC Videsh and will be followed by drilling at two more exploratory locations.
- As per the Ministry of Petroleum & Natural Gas statement, all pre-drilling activities were completed with the rig being on location in late 2019 and with spudding scheduled for March 2020. However, the drilling had to be deferred due to the COVID-19 pandemic. After the easing of restrictions and resolving the issues owing to deferment of initial plans, in September 2021, the drilling of the well has commenced on 29th September 2021. Read more
Published on: 1:30 pm
- BSE Sensex is currently 58,717.71 down 408.65 points or 0.69%.
- Nifty50 is currently 17,507.90 down 110.25 points or 0.63%. Nifty Bank is 37,173.00, down 0.67%. Mid-cap Index is down 0.50%.
- Mahindra & Mahindra, JSW Steel, DR Reddy, Sun Pharma and Ultratech Cement are the top gainers. Bajaj Finserv, Maruti, Asian Paints, HDFC and Bajaj Finance are the top losers. Read more
Published on: 1:30 pm
- Ashok Leyland Ltd has informed to the exchange on Friday that it reported a total sales stood at 9,533 units in September as against 8,332 units in the last year, registering a growth of 14%.
- Further, the company recorded a 12% growth in domestic vehicle sales at 8,787 units in September. It had sold 7,835 units in the domestic market in the same month last year.
- Medium and heavy commercial vehicle (M&HCV) sales in the domestic market were up 39% at 4,529 units last month as compared to 3,268 units in the last year, the company said in a regulatory filing. Read more
Published on: 1:27 pm
- The Finance Ministry has announced the monthly account of the government between April - August of the fiscal year FY22.
- Data given by the ministry showed that the Government of India has received Rs8,08,672cr (40.9% of corresponding BE 2021-22 of Total Receipts) up to August 2021 comprising Rs6,44,843cr Tax Revenue (Net to Centre), Rs1,48,650cr of Non Tax Revenue and Rs15,179cr of Non-Debt Capital Receipts.
- Further, the data said that the Non-Debt Capital Receipts consists of Recovery of Loans Rs6,808cr and Miscellaneous Capital Receipts of Rs8,371cr. Rs2,12,606cr has been transferred to State Governments as Devolution of Share of Taxes by Government of India up to August 2021. Read more
Published on: 1:09 pm
- Oil and gas stocks were in focus on Friday after the government made a double-digit increase in the price of natural gas which is used for cooking in households. Nifty Oil & Gas holds steady and was floating between intraday high and low of 7,863.40 and 7,753 respectively.
- The index has advanced by more than 1% in the early deals, however, in the second half, the index has corrected.
- At around 1.04 pm, Nifty Oil & Gas was trading at 7,774.90 flat compared to the previous closing of 7,774.40. On the index, 8 scrips declined and 7 scrips advanced. Read more
Published on: 1:03 pm
- Aditya Birla Sun Life AMC has received a full subscription on the third day of its initial public offering (IPO). The IPO has received an oversubscription of 2.16 times.
- At around 2.48, as per NSE data, cumulatively, the maiden has received 5,99,47,48o equity shares bids compared to the offered size of 2,77,99,200 equity shares - registering a subscription of 2.16 times.
- The IPO was lifted by institutional and retail investors. The portion reserved for Qualified Institutional Buyers (QIBs) bagged 2.81 times subscription, while the portion set aside for Retail Individual Investors (RIIs) got subscribed by 2.56 times. However, the reserved portion for Non-Institutional Investors (NII) saw 0.75 times subscription. Read more
Published on: 12:54 pm
- India's manufacturing activity expanded for the third straight month in September 2021. Rising from 52.3 in August to 53.7 in September, the seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) highlighted a stronger expansion in overall business conditions across the sector. For the second quarter of the fiscal year 2021/22, the PMI averaged 53.8, a sizeable improvement from 51.5 in the opening quarter
- The recovery of the Indian manufacturing industry was extended to September, as companies benefited from strengthening demand conditions amid the easing of COVID-19 restrictions. With sales rising at a stronger rate, firms scaled up production and purchased additional inputs. There was also a faster upturn in international sales and an improvement in business confidence. Read more
Published on: 12:53 pm
- Maruti Suzuki India has launched an industry-first AI (Artificial Intelligence) based 24x7 virtual car assistant app, called “S-Assist” for its NEXA customers. The scan and voice-enabled virtual car assistant, S-Assist, optimizes the application of artificial intelligence and machine learning to provide an immersive online post-purchase experience to customers.
- Partho Banerjee, Senior Executive Director, Service, Maruti Suzuki India Limited said, “Digitization of car service experience and bringing ease to customer car ownership is our motto. We are proud to announce the launch of India’s first voice-enabled virtual car assistant, S-Assist, to strengthen the digital experience of our customers." Read more
Published on: 12:49 pm
- The Indian government has made a double-digit increase in the price of natural gas which is used for cooking in households. Also, CNG rates are expected to be raised as well as fuels for the automobile sector.
- Starting October 01, 2021, natural gas is priced at $2.90 per million British thermal units for a six month period. That said, the price is hiked by a whopping 62% from the previous $1.79/mmBtu of April - September 2021.
- Further, the Centre also hiked prices of gas produced from difficult fields such as deepsea at $6.13 per mmBtu for October 2021 - March 2022 period - compared to $3.62 per mmBtu in the prior six-month. Read more
Published on: 12:40 pm
- The Nifty Metal stocks surged amidst bearish markets on Friday. The Index left behind the weak sentiments over the last couple of days amid the Evergrande crises and China's power shortage worries. Base metal prices also dived mid-week.
- But reports of the duration of anti-dumping duty increased on alloy/non-alloy color coated flat products seemed to send some cheers among steel companies on Friday.
- APL Apollo Tubes led the rally. Steel companies Jindal Steel soared 4% while JSW Steel, Tata Steel, and SAIL were also in the fast lane. Hindalco emerged the laggard again. Read More
Published on: 12:37 pm
- Welspun Corp announced that the Capital Market Authority (“CMA”) which is the regulatory authority responsible for capital markets in the Kingdom of Saudi Arabia, has approved the Initial Public Offering (IPO) of its Saudi Joint Venture, East Pipes Integrated Company for Industry (“EPIC”).
- Under the IPO, the company will offer 6,300,000 shares representing 30% of its share capital in the subsidiary.
- "The divestment of shares will be done by the JV partners in proportion to their shareholding in EPIC," Welspun said. Read more
Published on: 12:31 pm
- Punjab National Bank has informed to the exchange that it has subscribed to 1,80,00,000 shares of National Asset Reconstruction Company Limited (NARCL).
- NARCL is yet to become operational. It will take over the bad assets of the banks in its own account for speedy resolution of such assets, said company in a regulatory filing.
- The shares have been acquired at a cash consideration of Rs 10 per equity share (at par) and it will complete the transaction by the end of the last quarter of this fiscal. Read More
Published on: 12:30 pm
- Benchmark market Indices fall further as banking and financial services struggle.
- BSE Sensex is at 58,647.75 down 478.61 points or 0.81%.
- Nifty50 is at 17,485.60 down 132.55 points or 0.75%. Nifty Bank is 37,152.95, down 0.73%. Mid-cap Index is down 0.39%.
- Mahindra & Mahindra, JSW Steel, Tata Steel, IOC, and DR Reddy are the top gainers. Bajaj Finserv, NTPC, Maruti, Bharti Airtel, and Asian Paints are the top losers.
- Nifty Banking and Financial Services stocks remained under pressure while Nifty Metal and PSU Bank stocks lead modest gains.
- Out of 50 stocks traded on the BSE, 16 advanced and 34 declined. Read More
Published on: 12:25 pm
- Rane Holdings has further acquired 83.35 lakh equity shares having a face value of Rs10 each representing a 12.72% stake in its subsidiary Rane t4u (RT4U), according to a subscription to the rights issue made by RT4U.
- The latest acquisition was valued at Rs8.335cr.
- The aggregate equity shareholding of RHL in RT4U post this acquisition stands increased to 97.46% (99.33% on a fully diluted basis). Read More
Published on: 12:12 pm
- Maruti Suzuki India Limited has posted total sales of 86,380 units in September 2021. Total sales in the month include domestic sales of 66,415 units, sales to other OEM of 2,400 units and exports of 17,565 units.
- The company said in a regulatory filing, "Sales volume of the Company in September 2021 was adversely impacted due to shortage of electronic components. The Company took all possible measures to limit the adverse impact."
- The company posted total sales of 1,30,699 units in August 2021. Read More
Published on: 12:05 pm
- Maruti Suzuki has announced that it expects an adverse impact on vehicle production in October 2021, due to the semiconductor shortage situation. The auto company had expected the same for September month as well. Also, the chip shortage impact is foreseen in Gujarat-based subsidiary Suzuki Motor Gujarat.
- In its regulatory filing, Maruti said that "owing to a supply constraint of electronic components due to the semiconductor shortage situation, the Company is expecting an adverse impact on vehicle production in the month of October’21 in both Haryana and its contract manufacturing company, Suzuki Motor Gujarat Private Limited (SMG) in Gujarat." Read more
Published on: 12:04 pm
- JSW Energy Ltd has informed to the exchange regarding withdrawal of rating assigned to the Commercial Paper Issue.
- CARE has withdrawn the rating assigned to the Commercial Paper issue of JSW Energy (Barmer) Limited (JEBL) with immediate effect, as the company has confirmed non-placement of the instrument and there is no amount outstanding under the issue as on date.
- At around 12:02 PM, JSW Energy was trading at Rs384 apiece down by Rs5.95 or 1.53%. Read More
Published on: 12:02 pm
- ICICI Bank announced the launch of ‘Festive Bonanza’, a complete suite of offers with instant discounts and cashback available on thousands of products including luxury items from premium brands and leading e-commerce platforms.
- As part of the ‘Festive Bonanza’, the Bank also offers attractive benefits to retail and business customers on various banking products and services. The offers are available from October 1, 2021, onwards on various dates during the upcoming festive season. Read More