Published on: 5:02 pm
- Vakrangee Limited has tied up with LendDenClub to provide investment and borrowing options to its customers in the remotest part of the country. LenDenClub is one of the leading peer-to-peer (P2P) lending platforms in India.
- With this integration, customers of Vakrangee can now invest and borrow through LenDenClub seamlessly. Under this partnership, Vakrangee, through its Nextgen Kendras and BharatEasy app, will now offer lending and borrowing platforms in remote parts of the country.
- With 70% of Nextgen Vakrangee Kendra outlets in Tier-5 and Tier-6 towns, Vakrangee will offer borrowing to the community in the unserved/underserved parts of the country, said company in a filing. Read more
Published on: 5:00 pm
- Gearing up for the launch of newly proposed spot Bullion segment of Electronic Gold Receipts (EGR) and expansion of bullion Derivatives offerings, BSE – India’s second largest commodity derivatives exchange has signed a Memorandum of Understanding (MoU) with South Tamil Nadu Jewellers Guild and The Bullion and Jewellers Association.
- These MoU’s are aimed at sharing knowledge and expertise in order to promote growth and development of commodities derivatives market and EGR. These MoU’s will help the exchange of stakeholders needs and their participation in derivatives and EGR segments. Read more
Published on: 4:59 pm
- Rail Vikas Nigam Limited (RVNL) has entered into a memorandum of understanding (MoU) with Braithwaite & Co. Limited (BCL).
- As per the regulatory filing, the RVNL and BCL consortium will explore the 400 KV/220 KV GIS, AIS substation works, 400 KV/220 KV/132 KV transmission line, HV/EHV underground cables, Railway 25 KV OHE work and Railway traction substation works, Metro station E&M work and tunnel ventilation work, Electrical substations 132KV/66KV/33KV, modification, shifting & relocation of existing EHV transmission line all MEP projects, Smart city Works, Signalling and Telecom work, IT/Non-IT infrastructure works, integrated traffic management service, projects in Govt/Semi GovtlState Govt/PSUs etc, utilizing the credentials of each other and execute the same utilizing the expertise of each other. Read more
Published on: 4:55 pm
- With an aim to achieve its business turnover of Rs.25,000 cr by 2025, Emami Agrotech Ltd., the edible & bio-diesel art of the diversified business conglomerate, Emami Group, commences its production of edible oil from its new plant at Kandla, Gujarat.
- The new plant is a step towards consolidating the Company’s roadmap as a key national player in the edible oil & food segment and achieving its business target.
- The Kandla Refinery with a production capacity of 3200 Tonnes per Day (TPD), is the 4th production unit of the Company in India, after Haldia, Krishnapatnam and Jaipur. Read more
Published on: 4:48 pm
- Karur Vysya Bank has trimmed the Marginal Cost of Funds Based Lending Rates (MCLR) on various tenors with effect from Thursday onward.
- One-year MCLR is at 8.15% from the previous 8.25%, while the six-month MCLR is now at 8.05% from earlier 8.15%.
- Three-month MCLR is at 7.70% from the previous 7.80%. Read more
Published on: 4:45 pm
- The Federation of Automobile Dealers Associations (FADA) today released Vehicle Retail Data for September’21. On a YoY basis, total vehicle retails for the month of September’21 decrease by -5.27%. When compared to September’19 (a regular pre-covid month), overall retails continue to fall by -13.50%.
- On a YoY basis, 3W was up by 51%, PV up by 16% and CV was up by 47%. 2W and Tractors fell by -12% and -24% respectively.
- With the first half of FY 21-22 coming to an end, total retails grew by 35% YoY with the highest growth seen in the CV segment at 127%. When compared to 2019, a pre-covid year, overall retails were down by -29%. Except tractors which has grown by 19%, all the other categories continued to be in red. Read more
Published on: 4:35 pm
- Infosys in partnership with the ATP Tour, have launched a suite of exciting match stats and analysis tools designed to bring fans, coaches and media closer to the action of men’s professional tennis.
- From today, fans will be able to level-up their experience of ATP Tour matches by layering on statistical insights from across more than 60 ATP Tour events each season.
- Delivered via an immersive and intuitive interface on ATPTour.com, Infosys, the Digital Innovation partner of the ATP Tour, will allow viewers to tap into the pulse of the match through real-time data and insights – helping to tell a richer story of the action on court and reveal game-changing moments. Read more
Published on: 4:25 pm
- Macrotech Developers (Lodha) has announced that the company's pre-sales rebounded strongly to Rs2,003cr for the quarter, despite the early part of the quarter being impacted by Covid and Q2 being a seasonably weak quarter due to monsoon (significant impact in MMR) and inauspicious Shraadh period. Lodha said that this is our best sales performance for the second quarter of an FY. Additionally, as informed by our release on 4.10.21, we had pre-sales of £145 million (Rs1,450cr) in our UK projects during the quarter.
- Lodha said, "rising customer footfalls at all of our developments and improving conversions give us great confidence of strong underlying demand as we enter the festive season. Coupled with a strong launch pipeline during the second half, we remain confident of achieving our pre-sales guidance for the FY." Read more
Published on: 4:16 pm
- Kalyan Jewellers said in the filing that it has witnessed revenue growth of about 60% for its India operations during the recently concluded quarter, as compared to the same period in the previous year. This was despite the lockdown-related disruptions in showroom operations in Kerala. The company’s showrooms in Kerala resumed operations fully by the second week of August.
- Non south markets recorded a higher same store sales growth of about 70% compared to south markets which recorded same store sales growth of about 40%. This differential was predominantly due to the temporary closure of showrooms in Kerala during the recent quarter. Read more
Published on: 4:05 pm
- Oriental Rail Infrastructure Limited has informed to the exchange that it has received an approval for their product 'PU foam' from 'Indian Railways manufacturing units'.
- Further, it shall be used in Seat and Berth by 'Indian Railways', as comfirmed by the company in a regulatory filing.
- Oriental Rail Infrastructure Limited is engaged in the manufacturing of wood-based resin impregnated densified laminated boards. Read more
Published on: 4:05 pm
- TVS Motor Company Limited, a reputed manufacturer of two-wheelers and three-wheelers in the world, today announced the launch of TVS Jupiter 125. The Zyada Se Bhi Zyada feature-rich 125cc scooter is the new addition to the TVS Jupiter portfolio, bigger and more spacious with industry-first features such as the largest under-seat storage, segment-leading longest seat, progressive neo masculine styling and unrivalled mileage.
- The company stock ended at Rs557.90 per piece up by Rs12.6 or 2.31% from its previous closing of Rs545.30 per piece on the BSE. Read more
Published on: 4:03 pm
- Nazara Technologies has bagged fresh capital through a preferential allotment of equity shares to key investors.
- On Thursday, Nazara stock has hit a new 52-week high of Rs2745.15 per piece on Sensex. Read more
Published on: 3:52 pm
- Datamatics Global Services Limited, a global Intelligent Automation products, Digital Solutions, Technology and BPM company today announced that their RPA product, TruBot has been recognized as a “Star Performer” and “Major Contender” in the Everest Group RPA Products PEAK Matrix 2021. Out of the 23 vendors evaluated, Datamatics is one of the five vendors named a Star Performer in the PEAK Matrix.
- Datamatics has been recognized as an RPA software vendor for the fourth consecutive year and for the second time as a Star Performer in the Everest Group RPA PEAK Matrix. Datamatics TruBot is an RPA software product enabling unattended and attended automation and with additional cognitive capabilities, it helps enterprises handle complex transactions, scale up business operations, and embrace intelligent automation. Read more
Published on: 3:44 pm
- Markets witnessed a positive day of trade, with the benchmark index closing higher as across the board short covering weighed in.
- Nifty outperformed the Bank Nifty by 0.2% with both the indices closing ~0.8%/0.6% higher, recovering the majority of the yesterday’s loses.
- Tata group stocks were among the top outperformers with stocks like Titan & Tata Motors gaining more than ~10% during the trade along with an addition of heavy long positions. Read more
Published on: 3:41 pm
- Sobha said its sales bookings rose 49.33% YoY to Rs1,030.20cr in Q2 September 2021 (Q2 FY22) on a stable pickup in housing demand.
- In a regulatory filing, Sobha informed that sales bookings in volume terms rose to 13,48,864 square feet in Q2 FY22 from 8,91,700 square feet in Q2 FY21.
- The company said it achieved best-ever total sales volume and sale value of 22,44,403 square feet and Rs1713cr respectively during April-September of this fiscal year, it added. Read more
Published on: 3:25 pm
- RITES Limited has informed that Ministry of Railways on October 06, 2021 has appointed Rahul Mithal as Chairman & Managing Director w.e.f. October 07, 2021 for a period of five years till the date of his superannuation or until further orders, whichever is earlier.
- Rahul Mithal is from the Indian Railways Service of Mechanical Engineers (SCRA 1985 Batch). He holds the additional qualification of MBA (Finance) from Jamnalal Bajaj Institute of Management Studies, Mumbai an is a Fellow of the Institution of Mechanical Engineers (UK) and a Chartered Engineer, registered with the Engineering Council (UK).
- He was the Functional Director on the Board of Container Corporation of India Limited for the last 4 years as an incharge of the Projects & Services wing, comprising of the Civil, Electrical, Mechanical & IT departments, responsible for the design, planning & execution of all the Projects. Read more
Published on: 3:21 pm
- Tata Steel India Crude steel production grew 2%QoQ and 3%YoY in 2QFY22. Despite seasonal weakness, overall deliveries increased by 12%QoQ on the back of economic recovery post 2nd wave of COVID-19; deliveries were lower by 8%YoY due to lower exports and stock liquidation focus in the previous year.
- The company achieved deliveries volume growth across its target segments: Read more
Published on: 3:14 pm
- Tata Power, India’s largest integrated power utility, announced that it has signed a three year commercial agreement with BluWave-ai, the world’s first renewable energy AI company. This agreement comes at the conclusion of a successful trial project during which Tata Power evaluated the performance of the BluWave-ai cloud platform to generate intra-day and day-ahead dispatches for use in its power scheduling operations.
- India recently put measures in place to mandate accurate energy scheduling and introduced a real-time market to improve onboarding of renewable energy in the national grid. As a result, electricity distribution companies now face strict penalties for deviation from planned energy usage, which increases with inaccuracy in power scheduling. As an innovator in its industry, Tata Power decided to activate the potential of artificial intelligence (AI) to optimize power scheduling and thus address the new regulatory changes. Read more
Published on: 3:05 pm
- Kurukshetra Expressway Private Limited (KEPL), a Joint Venture Company in which JMC Projects (India) Limited holds a 49.57% equity stake. KEPL had entered into a Concession Agreement on 13.07.2010 with the National Highways Authority of India (NHAI) for Four Lanning of Rohtak-Bawal Section of NH-71 in the State of Haryana on Design, Build, Finance, Operate, and Transfer (DBFOT) basis.
- "We wish to inform you that KEPL vide its letter dated October 07, 2021, has submitted a Notice of Termination of Concession Agreement to NHAI due to forcible suspension of toll collection/user fee on account of the farmer's agitation/ protest with effect from December 25, 2020. The event of forceful suspension of toll collection/ user fee due to farmer's agitation/ protest amounts to Force Majeure Event of Concession Agreement." Read more
Published on: 3:03 pm
- The Board of Directors of Piramal Enterprises Limited (PEL) approved a composite scheme of arrangement providing for the demerger of the pharmaceuticals business from PEL and simplification of the corporate structure to create two industry-focused listed entities in Financial Services and Pharmaceuticals.
- Mr. Ajay Piramal, Chairman, Piramal Group, said, “Over the years, Piramal Enterprises has grown multi-fold with diverse businesses under one listed holding company structure. In line with our stated strategy, the Board has today approved the demerger and simplification of our corporate structure, to create two independent listed entities in Financial Services and Pharmaceuticals, with a leadership position across the business segments they operate in. It will firmly empower both entities to be future-ready and enable them to independently pursue their growth strategies with sharper focus and identity. Read more
Published on: 2:58 pm
- India Ratings and Research (Ind-Ra) has affirmed Time Technoplast Limited’s (TTL) Long-Term Issuer Rating at ‘IND AA-’. The Outlook is Stable.
- Ind-Ra continues to take a consolidated view of TTL and its subsidiaries/joint ventures due to the strong legal, operating and strategic linkages among them.
- Ind Ra expects that a steady improvement in the scale and profitability accompanied by a substantial improvement in the product mix with an increased share of value-added products, while maintaining the net adjusted leverage below 1.5x, could lead to a positive rating action. Read more
Published on: 2:40 pm
- Moody's Investors Service, an international credit rating agency for Foreign Currency (USD) denominated notes, has vide its press release dated 06th Oct 2021, revised the Long Term Issuer Default Rating outlook of Hindustan Petroleum Corporation Limited to ‘Stable’ from ‘Negative’.
- The company stock was in demand on Thursday and hit a fresh 52-week of Rs323.55 per piece during intraday trade. At around 2.44 pm, Hindustan Petroleum Corporation Ltd was trading at Rs320.75 per piece up by Rs9.2 or 2.95% from its previous closing of Rs311.55 per piece on the BSE. Read more
Published on: 2:40 pm
- Auto stocks were in a frenzy buying on Thursday with heavyweights being the forefront of the bulls ride. The Nifty Auto index is just shy of the 11,100-mark. Notably, all stocks listed on the index were in the fast lane. The index has gained so far nearly 525 points or 5% today.
- The rally in auto stocks comes during the time of the festive season with Navaratri beginning from today. Although, the automakers are cautiously optimistic this festive season, however, that has not stopped investors from making value buying in the sector.
- At around 2.35 pm, Nifty Auto was trading at 11,048.50 up 480.95 points or 4.55%. The index has touched an intraday high of 11,091.45 which was near the 52-week high of 11,093.15. Read more
Published on: 2:34 pm
- Private lender, Yes Bank has set October 22, 2021, for announcing its financial performance for the quarter ending September 2021 (Q2FY22). On Thursday, the Bank's stock has jumped nearly 3% so far today with an intraday high of Rs13.45 per piece on Sensex.
- In its regulatory filing today, Yes Bank said that a meeting of the Board of Directors of YES Bank Limited (the "Bank") will be held on Friday, October 22, 2021, at Mumbai, inter alia, to consider and approve, the Unaudited Standalone and Consolidated Financial Results of the Bank for the quarter (Q2) and half year ended September 30, 2021, along with the limited review report of the Statutory Auditors on the same. Read more
Published on: 2:30 pm
- Indices are firm with auto, consumer durables, and realty stocks leading the charge.
- BSE Sensex is at 59,804.93 up 615.2 points or 1.04%.
- Nifty50 is at 17,834.35 up 188.35 points or 1.07%. Nifty Bank is 37,886.35, up 0.97%. Mid-cap Index is up 2.38%. Read more
Published on: 2:27 pm
- Ramkrishna Forgings Limited hits 52-week high as it has signed a Memorandum of Understanding (MOU) with a US based technology partner for the development of Electric Vehicle Powertrain components for the Indian EV market.
- This marks the foray in a big way for both the entities into the EV market in India, said company in a filing on Thursday.
- The technology partner is a leading expert in magnetic engineering innovations. Their expertise lies in efficiency enhancement which bestow a superior hallmark over its peers in the various industries they operate in. Read more
Published on: 2:25 pm
- CRISIL Ratings expects Indian paint companies to stage a strong comeback this fiscal, regaining the ground lost amid the second wave of the pandemic in the first quarter. CRISIL estimates the industry's revenue to rise 10-12%, with improving consumer sentiment and economic recovery driving growth in decorative and industrial segments alike.
- However, CRISIL also stated that at the other end, the operating margin will shrink ~200 basis points. However, healthy cash accruals, well-managed balance sheets and large cash surpluses will keep credit profiles stable.
- CRISIL has analyzed six players, which account for ~96% of the organised sector revenue, which indicates as much. Read more
Published on: 2:18 pm
- India Ratings and Research (Ind-Ra) has maintained a stable outlook on the steel sector for 2HFY22. Higher coking coal prices are likely to moderate the per tonne EBITDA margins over 2HFY22, although keeping it elevated from FY21 levels (unless the extremely high coking coal prices of end-September 2021 continue which is unlikely), due to a softening of iron ore prices amid somewhat stable steel prices.
- However, Ind-Ra said that the absolute EBITDA is likely to be adequately compensated by robust sales volumes and elevated price levels. Coking coal prices increased by 150% yoy in mid-September 2021 and are likely to remain volatile. Iron ore prices could correct with supply improving gradually but remain elevated due to structural changes post mine auctions. Read more
Published on: 1:59 pm
- SC SOFT PTE LTD, a Singapore based subsidiary of Aurionpro is pleased to be selected as the solution provider of the EMV Open Loop Account Based ticketing system as part of the digitization of Transportation solutions across the Maldives for the Maldives Transport Contracting Company (MTCC).
- The stock is currently trading at Rs214.70, up by Rs0.25 or 0.12% from its previous closing of Rs214.45 on the BSE.
- SC SOFT in this project will be the technology Partner along with Bank of Maldives (BML) and Mastercard as the Financial Partners, Aurionpro said in the filing. Read more
Published on: 1:51 pm
- Coastal Corporation Ltd stocks rally in the market on Thursday as it informed to the exchange regarding listing of equity shares on the NSE.
- The company has received approval from National Stock Exchange Limited (NSE) for listing of equity shares of the company with effect from October 08, 2021.
- At around 1:50 PM, Coastal Corporation was trading bullish at Rs297.95 per piece, higher by 3.92% on the Sensex. Read more
Published on: 1:47 pm
- Bank of Baroda, India’s premium public sector bank, announced a reduction of 25 bps in its home loan rates from 6.75% to 6.50%* w.e.f from October 7, 2021.
- With the onset of the festive season and to make home-buying more affordable for customers, the Bank has extended this offer and the special rate will be available till December 31, 2021, the bank said.
- The new rates will be available for customers applying for fresh loans, loan transfers or looking to refinance their existing loans making the offer more inclusive. Nil processing fee on home loan was already on offer and has been extended till Dec 31, 21. Read more
Published on: 1:44 pm
- Moody's Investors Service ("Moody's") has taken rating actions of nine Indian banks. These are - Axis Bank, Bank of Baroda, Canara Bank, Export-Import Bank of India (EXIM India), HDFC Bank, ICICI Bank, Punjab National Bank (PNB), State Bank of India (SBI) and Union Bank of India.
- Moody's has affirmed the long-term local and foreign currency deposit ratings of Axis, HDFC Bank, ICICI and SBI at Baa3, and the long-term issuer rating of EXIM India at Baa3. At the same time, their rating outlooks have been changed to stable from negative.
- This rating action is driven by Moody's recent affirmation of the Indian government's Baa3 issuer rating and change in outlook to stable from negative. Read more
Published on: 1:34 pm
- Mahindra XUV700 today clocked 25,000 bookings in 57 minutes of its booking commencement which is an unprecedented milestone in the Indian automotive industry, Mahindra & Mahindra Limited said in a filing on Thursday. The volume of 25,000 XUV700s made available today at the launch prices reflects up to six months of production depending on the variant. It also makes the XUV700 the first four-wheeler in India to hit this milestone.
- Bookings will now reopen starting 10 am on October 8. Customers can book their preferred XUV700 via dealerships or digital platforms, at its new yet highly attractive price points applicable for the next 25000 bookings (details below), after which prices at the time of delivery will prevail, company said. Read more
Published on: 1:34 pm
- Brickwork Ratings assigns 'BWR B+/Stable' rating for the proposed Non Convertible Debentures (NCDs) of Rs25cr of Glance Finance Limited (GFL).
- As per rationale report, the rating assignment factors in the experienced management team, service based revenues from the vehicle and vending machine leasing business, moderate gearing levels and nil NPAs of Glance Finance Limited (GFL or the Company). However, the ratings are constrained due to the small scale of operations and limited track record of the company in the lending space as an NBFC.
- The Stable outlook indicates a low likelihood of a rating change over the medium term. BWR believes GFL will continue to maintain its credit risk profile over the medium term. Read more
Published on: 1:30 pm
- BSE Sensex is currently 559,867.46 up 677.73 points or 1.15%.
- Nifty50 is currently 17,837.85 up 191.85 points or 1.09%. Nifty Bank is 37,847.30, up 0.87%. Mid-cap Index is up 2.36%.
- Tata Motors, Titan, Mahindra & Mahindra, Maruti, and Eicher Motors are the top gainers. ONGC, Cipla, Coal India, Divis Lab, DR Reddy, and Britannia are the top losers. Read more
Published on: 1:10 pm
- The Nifty Metal stocks recovered yesterday’s losses to regain winning touch. The Index surged 1% amid upbeat markets on Thursday. Adani Enterprises and Hindustan Copper emerged as the top gainers. Vedanta and Tata Steel were also in the fast lane on Thursday. Coal India and Welspun Corp were under pressure.
- The Indices led by bullish realty, auto, and consumer durables stocks build on early gains after a bullish start amid positive global cues. Sensex jumped over 600 points, Nifty surpassed 17,800.
- At around 1:10 pm, BSE Sensex was trading at 59,857.82 up 668.09 points or 1.13% and Nifty50 at 17,842.35 up 196.35 points or 1.11%. Nifty Metal was trading at 5,667.35 up 40.00 points or 0.71%, touching a high of 5,705.25 and low of 5,643.80 during intraday trade on Thursday. Read more
Published on: 12:56 pm
- Investors were upbeat in consumer durable stocks on Thursday after the index heavyweight Titan announced that the company logged a strong demand recovery in September 2021 (Q2FY22). The corporate earnings season is back and this time India Inc will announce the second quarter of FY22 amid the Coronavirus pandemic.
- Nifty Consumer Durables has crossed over 28,500 for the first time as investors become optimistic on the sector for recording healthy quarterly results. The index was the top bull of the benchmark.
- All stocks listed on Nifty Consumer Durables were trading on a bullish note ranging from flat to as high as over 10%. Read more
Published on: 12:50 pm
- In a significant development for the global power sector, Électricité de France S.A. (EDF), one of the world’s leading power sector companies headquartered in Paris, France, and NTPC Ltd., India’s largest energy integrated company signed a Memorandum of Understanding (MoU) to explore potential power project development opportunities in the Middle East, Asia, Europe, and Africa. NTPC is ranked as the number 2 Independent Power Producer (IPP) in Platts Top 250 Global Energy Company Rankings.
- At around 12.54 pm, NTPC Ltd was trading at Rs143.85 per piece up by Rs0.5 or 0.35% from its previous closing of Rs143.35 per piece on the BSE. Read more
Published on: 12:38 pm
- CRISIL Ratings Limited has revised/ assigned a AA Rating to JK Lakshmi Cement Limited’s entire long-term borrowings of over Rs2,000cr with a Stable Outlook. The long-term rating of the company now stands at CRISIL AA/Stable.
- CRISIL has also assigned the top most rating to the company’s short-term Commercial Paper Program of Rs175cr at CRISIL A1+. Read more
Published on: 12:37 pm
- Nazara Technologies has informed to the exchanges that the Board of directors have approved the acquisition of 1601 equity shares of Rs. 10/- each representing 5.54% of the paid up share capital of Rusk Media Private Limited for a total consideration not exceeding Rs2.02cr payable in cash.
- Rusk Media Private Limited is a private limited company incorporated on 13th February 2019 and its turnover is Rs7.10cr (based on audited financial statements for year ended March 31,2021. Read More
Published on: 12:30 pm
- Benchmark market indices rise further; Realty stocks surge 6% while auto, consumer durables stocks remain bullish.
- BSE Sensex is currently 59,858.47 up 668.74 points or 1.13%.
- Nifty50 is currently 17,839.15 up 193.15 points or 1.09%. Nifty Bank is 37,856.85, up 0.89%. Mid-cap Index is up 2.36%.
- Titan, Tata Motors, Mahindra & Mahindra, Maruti, and Asian Paints are the top gainers. ONGC, Cipla, Divis Lab, DR Reddy, and Coal India are the top losers.
- Nifty Realty stocks soar over 6% while Auto and Consumer hover around 4% gains to drive an all-green trade on Thursday. Nifty IT stocks also remain bullish.
- Out of 50 stocks traded on the BSE, 39 advanced and 11 declined. Read More
Published on: 12:15 pm
- Acuité has upgraded its long-term rating to ‘ACUITE BBB-’ from ‘ACUITE BB’ and short term rating to ‘ACUITE A3’ from ‘ACUITE A4+’ on the Rs25cr bank facilities of Virinchi Limited (VL). The outlook is ‘Stable’.
- Hyderabad, Telangana based, Virinchi Limited (VL) is engaged in Information Technology based products and services. The company was incorporated in the year 1990. It was set up by Mr. Vishwanath Kompella, an alumnus of IIT Chennai. Read more
Published on: 12:05 pm
- Indiabulls Housing Finance Limited has completely sold off its stake and has realized monies of Rs3,049cr (USD 450 million). In November 2015, IBH acquired a 39.76% stake in UK-based OakNorth Holdings Limited for Rs663cr (USD 100 Million). Investment in OakNorth Holdings has yielded the company an annualized IRR of 48% over 6 years, the company said in a filing on Wednesday.
- For dollar bond repayment maturing in May 2022, the company has transferred the second tranche of the reserve amount Rs682cr to the lender repayment trust. Read More
Published on: 11:54 am
- Yasho Industries Ltd stock hit 52-week high on Thursday after the Board of Directors informed that the meeting is scheduled to be held on October 09, 2021, to consider and evaluate proposal for raising of funds by issuance of equity shares by way of a preferential issue in one or more tranches in accordance with the provisions of the SEBI guidelines.
- Further, the Board would also consider convening an extra-ordinary general meeting / postal ballot process to seek approval of the shareholders in respect of the aforesaid proposal of fund raising, as required, said company in a regulatory filing. Read More
Published on: 11:50 am
- After a brief lull on Wednesday, Nifty IT stocks regained winning momentum amid upbeat markets. The Index surged 2% amid upbeat markets on Thursday. Mphasis, Coforge, MindTree, and HCL Tech left behind the pressure on Wednesday to emerge as the top gainers. L&T Technology Services, Tech Mahindra, and Larsen & Turbo Infotech were also in the fast lane. TCS, Wipro, and Infosys also gained around 1.5%.
- Indices led by bullish auto, IT, consumer durables, and realty stocks build on early gains after a bullish start amid positive global cues. Sensex jumps 600 points, Nifty over 17,800. Read More
Published on: 11:34 am
- ICICI Bank has announced the launch of a contactless payment service through its banking app, iMobile Pay, that enables customers to tap their smartphones to pay at POS (Point of Sale) machines of merchant outlets.
- The service offers improved convenience to over 1.5 crore debit and credit card customers of the Bank as they will no longer need to carry their cards for payments at retail stores. Based on the Near Field Communications (NFC) technology, the innovative payment service empowers customers to create digital versions of their physical ICICI Bank debit and credit cards on the iMobile Pay app.
- Using the digital cards, customers can initiate electronic payments at merchant outlets from NFC enabled Android smartphones by just waving their phone near a contactless POS device. Read More
Published on: 11:30 am
- Indices led by upbeat auto, consumer durables, and realty stocks consolidate on early gains.
- BSE Sensex is currently 59,697.24 up 507.51 points or 0.86%.
- Nifty50 is currently 17,808.25 up 162.25 points or 0.92%. Nifty Bank is 37,739.75, up 0.58%. Mid-cap Index is up 2.13%.
- Tata Motors, Titan, Maruti, Mahindra & Mahindra, and HCL Tech are the top gainers. ONGC, Divis Lab, Cipla, Coal India, and Britannia are the top losers.
- Nifty Auto, Consumer Durables, and Realty hover around 4% higher to drive an all-green trade on Thursday while IT and Metal stocks are also bullish.
- Out of 50 stocks traded on the BSE, 40 advanced and 10 declined. Read More
Published on: 11:24 am
- Moody's Investors Service has upgraded the outlook of nine major non-financial companies in India to 'Stable' from 'Negative'. Moody's has affirmed the long-term issuer ratings. These companies stocks were broadly trading higher after Moody's ratings on Thursday.
- These companies are - Tata Consultancy Services Limited (TCS), Infosys Limited (Infosys), Reliance Industries Limited (RIL), Oil and Natural Gas Corporation Ltd. (ONGC), Petronet LNG Limited (PLL), UltraTech Cement Limited (UltraTech), Oil India Limited (OIL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd. (HPCL).
- At around 11.12 am, on Sensex, HPCL was trading higher by 3.5%, while Indian Oil jumped 1.6%, RIL and Petronet LNG gained nearly 1% each. Oil India was marginally up. Meanwhile, IT-giant TCS and Infosys jumped 1.1% each. However, ONGC tumbled 2.5%, Ultratech Cement dipped 0.3%. Read More
Published on: 11:12 am
- CARE Ratings Limited has revised/reaffirmed the credit ratings for Bank facilities of Greenpanel Industries Limited. The rating on long-term bank facilities Rs135cr (Reduced from Rs177.871cr) has been revised to CARE A; Stable from CARE A-; Stable.
- The credit rating agency also revised rating on long-term/ short-term (LTIST) bank facilities Rs65cr (Reduced from Rs70cr) to CARE A; Stable / CARE A1 from CARE A-; Stable / CARE A2+. Read More
Published on: 11:11 am
- Reliance Retail Ventures Limited (“RRVL”), through its wholly owned subsidiary, 7-India Convenience Retail Limited, has entered into a master franchise agreement with 7-Eleven, Inc. (“SEI”) for the launch of 7-Eleven convenience stores in India.
- The first 7-Eleven store is set to open on Saturday, October 9 in Andheri East, Mumbai. This will be followed by a rapid rollout in key neighborhoods and commercial areas, across the Greater Mumbai cluster to start with. Read more