Live market updates

11th Oct, 2021

Affle hits new record high after receiving its 5th and 6th US Patent Grants

Published on: 4:50 pm

  • Affle (India) Limited, a consumer intelligence-driven global technology company has announced that it has received Issue Notification for the grant of 2 patents from US Patent & Trademark Office (US PTO).
  • One patent and date of issue as of October 26, 2021, is related to the technology of ‘Creating decentralized repository of fraud IPs and publishers using Blockchain’.
  • Another patent, date of issue as of October 19, 2021, is related to the technology of ‘Click to install behaviour based detection of fraud’. With these two patent grants, Affle now has 6 US Patents granted along with multiple other patents filed and pending across US, India and Singapore. Read more

TPL Plastech starts commercial operations at (Phase-l) in Silvassa after completion of project as pe

Published on: 4:45 pm

  • TPL Plastech Limited announced on Monday that the company has successfully completed the Project (Phase-l) in Silvassa, UT (western region) for manufacturing of small packaging products (50 ml to 10 ltr) as Value Added Products. The project got completed as per the schedule and the Company has started commercial operations from this unit starting October 2021.
  • The Company initially will serve its existing customers in the segment of Chemicals, Pharma, FMCG, Food, etc. Read more

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Vedavaag Systems signs an agreement with PNB for implementation of Financial Inclusion

Published on: 4:40 pm

  • Vedavaag Systems Limited has signed and executed the Corporate Business Correspondent agreement with Punjab National Bank for implementation of Financial Inclusion for Punjab National Bank, informed by the company on Monday.
  • Vedavaag is targeting to roll out about 400 to 500 CSPs for PNB in the next two quarters for implementing the Financial Inclusion.
  • Vedavaag is already associated as Business Correspondent with State Bank of India and Bank of Baroda and now with signing of BC agreement with PNB, Vedavaag is Business Correspondent for all the three top PSU banks viz., SBI, BOB and PNB in the country, which have vast banking network across the country. Read more

Mutual fund inflows flat in September 2021; Assets Under Management rises to ~Rs37 lakh crore: AMFI

Published on: 4:34 pm

  • According to the AMFI data released on Friday, inflows to equity mutual funds stabilised in September 2021 and were almost similar to August figures.
  • Multi-cap funds saw the biggest inflow of Rs3,569.45cr while sectoral and flexi-cap funds saw net inflows of Rs2,000cr each. Apart from ELSS, small-cap funds also witnessed outflows in September 2021.
  • At Rs36,73,893.13 lakh crore, the Net AUMs for the Indian Mutual Fund Industry has shown consistent growth. Read more

Ramkrishna Forgings records strong performance in Q2FY22; Stock ends flat

Published on: 4:30 pm

  • Ramkrishna Forgings Limited (RKFL) has reported its financial results for the quarter and year ended September 30, 2021. The company’s revenue stood at Rs57,893.59 lakhs, yoy growth of 129.31%. EBITDA stood at Rs13,917.94 lakhs, yoy growth of 205.36%. Profit After Tax (PAT) of Rs5,011.20 lakhs, yoy growth of 2317.37%. The quarterly EPS for Q2FY22 is Rs15.68 per share. The company declared a Second Interim dividend of Rs0.50 per share.
  • Ramkrishna Forgings Ltd stock trade ended at Rs1,196 per piece up by Rs2.6 or 0.22% from its previous closing of Rs1,193.40 per piece on the BSE.
  • “The company has achieved a turnover of Rs57,893.59 Lakhs in Q2FY22 in comparison to Rs25,247.13 lakhs in Q2FY21 registering an increase of 129.31% yoy and Rs99,607.12 lakhs in H1FY22 in comparison to Rs36,832.00 lakhs in H1FY21 registering an increase of 170.44% yoy. Read more

Solar Industries stock hits new highs after bagging supply order worth Rs1,471cr from Coal India

Published on: 4:25 pm

  • Solar Industries stock has touched a new 52-week high on Monday after the company bagged an order from state-owned Coal India for a whopping Rs1,471cr.
  • The order is for the supply of bulk explosives.
  • The order is for a period of two years. Read more

Greaves Cotton board approves appointment of Firdose Vandrevala as Additional Director

Published on: 4:18 pm

  • The Board of Directors of Greaves Cotton Limited on Monday has approved the appointment of Firdose Vandrevala as an Additional Director designated as an Independent Director of the company for a period of five years with effect from October 15, 2021, subject to the approval of shareholders of the company.
  • The company said in a filing that Vandrevala is a professional with over 40+ years of experience in steel, power, telecommunications, and real estate industries with illustrious organizations such as Tata Group, Motorola, and Hirco, covering all functions of the business value chain such as procurement, planning, production, sales, marketing and project management. Read more

Yasho Industries board approves fund raise of Rs42.75cr; Stock hits 52-week high

Published on: 4:00 pm

  • Yasho Industries Limited has announced that its board has approved capital raise proposal by way of issue and allotment up to 5,00,000 (Five Lakhs) fully paid-up equity shares of face value of Rs.10/- each at an issue price of Rs.855/- (Rupees Eight Hundred Fifty Five only) each for an allotment size of Rs42.75cr by way of preferential allotment to the entities/persons mentioned herein. Read more

Wockhardt clarifies on news item of proposed stake sale; Stock ends lower

Published on: 3:54 pm

  • Wockhardt Limited clarified to exchanges Monday on a news item appearing in certain Media/Publications last week pertaining to the proposed stake sale by Wockhardt Limited.
  • The company said it is in the process of evaluating/ negotiating various fundraising options, including by way of further issue of equity shares, as part of its normal course of business.
  • The above negotiations are in their initial stage and, if found feasible, will be subject to further approval by the Board of Directors of the Company before finalization. Therefore, the present news information detailing the deal/ parties to the deal are purely speculative in nature. Read more

Dhanuka Agritech explores new avenues in Drone Sector and related services in Agriculture biz

Published on: 3:45 pm

  • Dhanuka Agritech has announced that the company is exploring new avenues in Drone Sector and its related services in Agriculture Sector to accomplish Dhanuka Vision of “Transforming India Through Agriculture”.
  • The announcement comes in continuation to the “Execution of Binding Agreement” with IoTechWorld Avigation that was done in August this year with the company.
  • Last month, the Union Cabinet approved the PLI Scheme for the Automobile Industry and Drone Industry with a budgetary outlay of Rs26,058cr. Read more

Vakrangee announces significant growth in Q2FY22 with PAT rising nearly 101%

Published on: 3:44 pm

  • Vakrangee Limited (VL), announced its unaudited Financial Results for the quarter ended September 30, 2021.
  • PAT stood at Rs26.74 crore in Q2FY2021-22 as against Rs13.31 crore for the corresponding quarter last year, registering a growth of 100.90%.
  • Revenue from Operations stood at Rs207.19 crore in Q2FY2021-22 as against Rs70.23 crore for the corresponding quarter last year, registering a growth of 195.01%. EBIDTA stood at Rs39.20 crore in Q2FY2021-22 as against Rs22.47 crore for the corresponding quarter last year, registering a growth of 74.49%. Read more

Trident hits 5% upper circuit after September month update on production

Published on: 3:42 pm

  • Trident Limited hit an upper circuit of 5% at Rs35.70 after the firm announced its production update for September 2021. In the Home Textiles Division, the company produced Bath Linen 5202 metric tons, Bed Linen 3.4 million metres, and Yarn 10,907 metric tons.
  • In the Paper & Chemicals Division, the company produced Paper 13,700 metric tons and Chemicals 8,584 metric tons. Read more

Markets settle higher; Banking stocks outperformed

Published on: 3:37 pm

  • Markets witnessed a positive day of trade, with the benchmark index closing on the record highs.
  • Bank Nifty outperformed the Nifty by 1.1% with both the indices closing ~1.4%/0.3% higher.  Banking stocks were among the top outperformers with stocks like HDFC Bank, SBI & ICICI Bank adding heavy long positions during the trade.
  • Nifty Midcap 100 index closed ~0.65% higher. Read more

GOCL Corp locks at 20% upper circuit after bagging supply order worth Rs592.45cr from Coal India

Published on: 3:33 pm

  • GOCL Corporation stock freezes at 20% upper circuit on Monday after the company bagged an order aggregating Rs592.45cr from state-owned Coal India.
  • The order is for the supply of Bulk Explosives for 2 years.
  • The order will commence from October 2021 to October 2023. It is not a related party transaction. Read more

Vakrangee to demerge its non-core business of e-governance and IT/ITES as a separate entity

Published on: 3:24 pm

  • In an endeavour to maximize shareholder value, Vakrangee Limited announced the demerger of both the businesses (Vakrangee Kendra Business as well as E-Governance & IT/ITES Business), each of which require greater attention and possess growth potential, due to which the Company has decided for the segregation of the business.
  • The Board of Directors of Vakrangee Limited in its meeting held today, approved the demerger of its E-Governance and IT/ITES division into a separate entity. Read more

Ramco Cements allots 2,28,001 equity shares under ESOS 2018 Plan A and B

Published on: 3:23 pm

  • The Nomination and Remuneration Committee of the Board of Directors of Ramco Cements Limited at its meeting held on October 11, 2021, has approved an allotment of 2,28,001 equity shares of Rs1/- each, being the exercise of 1,10,001 equity stock options under the Employee Stock Option Scheme 2018 — Plan A, (ESOS 2018 Plan A) and 1,18,000 equity stock options under the Employee Stock Option Scheme 2018 — Plan B, (ESOS 2018 Plan B).
  • The equity share capital of the company has increased from 23,59,92,711 equity shares of Rs1/- each to 23,62,20,712 equity shares of Rs1/- each. Subsequent to this allotment, the Company's paid up share capital stands at Rs.23,62,20,712/-. Read more

Power Mech Projects hits 52-week high on securing work order worth Rs448.60cr

Published on: 3:13 pm

  • Power Mech Projects Ltd has informed that the Company has received Letter of Intent/LOAC worth Rs448.60cr.
  • The project is Operation & Maintenance of 2X660 MW Mutiara Thermal Power Plant,Melamaruthur Village, Tuticorin, for Coastal Energen Private Limited. The estimated cost of the order is Rs391cr.
  • Further, company also received Miscellaneous Civil Works for Screening Plant-III, Kirandul, Chattisgarh for NMDC worth Rs57.60cr. Read more

eClerx Services gets SEBI approval to open buyback offer of Rs3030 million on October 18; Stock clim

Published on: 3:13 pm

  • eClerx Services Limited has received approval from the Securities and Exchange Board of India (SEBI) vide letter dated October 7, 2021, on the Draft Letter of Offer dated September 21, 2021. The offer is for a buyback of 1,063,157 fully paid-up equity shares of the face value of Rs10 at a price of Rs2,850 per equity share amounting to Rs3030 million.
  • The buyback issue will open on October 18, 2021, and close on November 1, 2021.
  • “In accordance with the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, as amended, the Company will dispatch the letter of offer to the Eligible Shareholders holding equity shares as on record date i.e. September 30, 2021,” the company said in a filing on Monday. Read more

Intellect Design trades higher after its arm iGTB and Coriolis Tech announce strategic partnership

Published on: 2:55 pm

  • Intellect Global Transaction Banking (iGTB), the transaction banking specialist from Intellect Design Arena Limited, ranked #1 in the world for Transaction Banking by IBS Intelligence, today announced its strategic partnership with Coriolis Technologies, the leading source of trade, corporate and geopolitical risk as well as trade-related economic data globally for the trade finance sector.
  • At around 2.58 pm, Intellect Design Arena Ltd was trading at Rs699.25 per piece up by Rs9.6 or 1.39% from its previous closing of Rs689.65 per piece on the BSE.
  • The company said in a filing on Monday that Coriolis Technologies delivers unparalleled insights into geopolitical risks, macro-economic trends, and international trade conditions as well as supporting key information on sustainable trade flows globally. Read more

Fortress Biotech and Cyprium Therapeutics announce positive clinical data for CUTX-101

Published on: 2:48 pm

  • Cyprium Therapeutics, Inc. (“Cyprium”), a Fortress Biotech, Inc. (Nasdaq: FBIO) (“Fortress”) partner company, with support from its licensing partner Sentynl Therapeutics, Inc. (“Sentynl”), a wholly-owned subsidiary of Cadila Healthcare Limited (“Zydus”), announced positive results from an efficacy and safety analysis of data integrated from two completed pivotal studies in patients with Menkes disease treated with CUTX-101, copper histidinate (CuHis).
  • In both pre-specified primary and secondary efficacy analyses, treatment with CUTX101 demonstrated a significantly greater median overall survival (OS) compared to untreated historical control patients. Read more

Nifty IT nosedives over 1,633 pts so far today amid major earnings; All stocks in red; TCS, HCL Tech

Published on: 2:35 pm

  • Major September 2021 (Q2FY22) earnings have taken the spotlight in the IT sector on Monday. However, the sector has witnessed heavy selling pressure with all stocks trading on a bearish tone on Nifty IT. The index has hovered between an intraday high and low of 35,690.40 and 34,768.95 respectively.
  • The performance comes after TCS announced its Q2 financial performance where it missed estimates in terms of revenue and margin. Other IT companies are now in focus as major Q2 results have lined up this week and ahead.
  • At around 2.33 pm, Nifty IT was trading at 35,255.85 lower by 1,146.15 points or 3.2%. So far today, the index has plummeted by more than 1,633 points. Read more

VST Tillers Tractors rallies over 3.5% on launch of VST 171DI Tractor in Gujarat

Published on: 2:33 pm

  • VST Tillers Tractors Ltd. (VST), one of India’s leading farm equipment manufacturers has announced the launch of VST 171 DI Single Cylinder Tractor, in the Gujarat market. Customised for applications like land preparation, inter cultivating, and haulage, the 17 HP, Single Cylinder Tractor is ideal for small farmers to use in their Ground Nut, Soyabean, Cotton, Castor fields, and Orchards.
  • Further, customers in the single cylinder tractor segment have an unmet requirement of a featured and wellengineered product. Now they have an option of VST’s innovative technology backed, VST 171DI.
  • The Tractor comes with a 17 HP water-cooled engine with 52 NM High Torque and 750 KG lifting capacity. The all-new VST 171 DI tractor has a forward speed of 25 Kmph and reverse speed of 11.6 Kmph. Above mentioned, best in class features justify positioning of VST 171 DI as a Asli 17 HP, Single Cylinder Tractor. Read more

Market pulse at 2:30 PM today

Published on: 2:30 pm

  • Indices remain firm; Banking and Financial Services stocks rise further to complement bullish Auto stocks.
  • BSE Sensex is currently 60,334.86 up 275.8 points or 0.46%.
  • Nifty50 is currently 17,999.40 up 104.20 points or 0.58%. Nifty Bank is 38,484.05, up 1.88%. Mid-cap Index is up 0.84%. Read more

Gadkari emphasizes on reduction of logistic costs below 10% for making retail market more competitiv

Published on: 2:20 pm

  • Union Minister for Road Transport and Highways Nitin Gadkari emphasized on reduction of logistic costs below 10% for making the retail market more competitive and boosting economic growth. Addressing the inaugural session of the M&M & IIM Ahmedabad MPOWER Series he said the government is focusing on integrated infrastructure development through the announcement of the National Infra Pipeline and Gati-Shakti programs. He said it has been planned to construct 25,000 kilometers of National highways within the next 2 years.
  • The Minister said under the National Infrastructure pipeline program, a roadmap of 2,800 projects has been planned with a length of over 1 lakh kilometers. He said flagship Bharatmala pariyojana has planned development of 34,800 km of highways connecting major urban and economic centers throughout the nation. Read more

Texmaco Rail & Engineering to open Rs164.51cr rights issue on Nov 01

Published on: 2:18 pm

  • Texmaco Rail & Engineering will be opening its rights issue on November 01, 2021. The issue is aggregating to more than Rs164.51cr. The issue will close on November 15, 2021.
  • Under the company's rights issue, about 7,15,26,643 equity shares will be offered to have a face value of Re 1 each.
  • The issue will have a floor price of Rs23 per equity share (including a premium of Rs22 per share over face value). Read more

S H Kelkar & Company records 31% yoy growth in sales to Rs713cr during H1FY22

Published on: 2:14 pm

S H Kelkar and Company Ltd (SHK), the largest Indian origin Fragrance and Flavours Company in India has informed the business update for Q2 & H1 FY 2021- 22 to the exchanges.

Operational Update:
  • The Company witnessed subdued demand in the emerging markets during the period under review. While engagements with existing customers remained steady, SHK saw healthy enquiries and wins from new customers. European markets registered strong performance on the back of higher consumption and demand trends. Read more

JSW Steel Group steel production volume rises 29% yoy to 5.07 million tonnes in Q2

Published on: 2:07 pm

  • JSW Steel reported a group combined crude steel production at 5.07 million tonnes for Q2FY22, including the production at jointly controlled entities viz. Bhushan Power & Steel Ltd. (BPSL) and JSW Ispat Special Products Ltd. (JISPL).
  • The production rise was 29% yoy compared to 3.92 million tonnes in Q2FY21.
  • The capacity utilization at the standalone level was at 91% in Q2FY22. “During Q2FY22, Vijayanagar works has taken planned shutdown for campaign repairs of two of its convertors and Salem works has taken annual shutdown of one of its Blast Furnaces, due to which the capacity utilization remained at an average of 91% in this quarter,” company said in a filing on Monday. Read more

Route Mobile stock jumps 5% after UK-subsidiary inks deal to buy Masivian for gaining stronger CPaaS

Published on: 2:07 pm

  • Route Mobile, a wholly-owned subsidiary, Route Mobile (UK) has signed definitive agreements to acquire Masivian S.A.S (“Masiv”), a cloud communication platform service provider catering to enterprises in Latin America (LatAm). The acquisition is aligned to Route Mobile’s global growth strategy to be a recognized global CPaaS player and to solidify its presence in Latin America.
  • Masiv operates in the LatAm market, with its differentiated and well-adapted cloud communication platform, security and data analytics that offers a comprehensive suite of communications, marketing, and AI-powered products. Masiv offers multichannel notification services through SMS, OTT business messaging, email, as well as voice, serving clients across Colombia and Peru. Read more

Adani Total Gas forays in Compressed Bio-Gas biz, to establish plant with capacity of 350 tonnes per

Published on: 1:58 pm

  • Adani Total Gas has inked a definitive agreement for exclusively collaborating on the establishment of a bio-conversion plant with a design capacity of about three hundred and fifty (350) tonnes per day of feed processing at Barsana, Mathura, Uttar Pradesh.
  • The transaction will be based on cattle dung as the primary biomass along with other biomass including napier grass, press mud, etc.
  • With this collaboration, the Company has for the first time forayed into Compressed Bio-Gas (CBG) Business. Read more

Persistent Systems extends ESOP to a large section of its global employee base

Published on: 1:48 pm

  • Persistent Systems announced the extension of its Employee Stock Option Plan (ESOP) to a large section of its global employee base. Persistent's employees have been foundational to the Company's success, and the ESOP will reward them for the resilience they have shown during the last two years. Approximately 80% of employees are expected to be covered under this plan.
  • Sandeep Kalra, Chief Executive Officer and Executive Director, Persistent Systems said, "We acknowledge our employees' hard work and dedication that has been the bedrock of our industry-leading growth and shareholder returns over the past several quarters. We are please to offer our global employees the opportunity to participate in this ESOP, thereby providing them the opportunity to participate in the value created for our shareholders as co-owners in the Company. We are confident this gesture will further our employee commitment to the organization's success and be value accretive in the long term for our various stakeholders." Read more

Jash Engineering bags orders worth Rs20cr in Sept 2021; Stock jumps over 2%

Published on: 1:30 pm

  • JASH Engineering has informed the exchange regarding corporate earnings and orders received by the company in the month of September 2021.
  • In the month of September 2021, the consolidated orders received by the company are worth Rs20cr out of which orders worth Rs11cr are for Indian market and orders worth Rs9cr are from markets outside India.
  • The significant contributors to the monthly order booking of September 2021 are Toshiba Water Solutions-Gurgaon, Enviro Control-Surat, P&C Projects-Chennai and VA Tech Wabag from India and Invent-Germany and Meadowlands PS Slide Gate Replacement-USA from international market. Read more

Market pulse at 1:30 PM today

Published on: 1:30 pm

  • Markets continued their bull run led by broad-based buying across sectors with exception of IT and media stocks.
  • BSE Sensex is at 60,422.91 up 363.85 points or 0.61%.
  • Nifty50 is at 118,022.50 up 127.30 points or 0.71%. Nifty Bank is 38,316.30, up 1.43%. Mid-cap Index is up 1.09%. Read more

Nifty Realty hits new lifetime high; Oberoi realty, Sunteck, Brigade, DLF scale new heights

Published on: 1:12 pm

  • The Nifty Realty hits a new historic highs on Monday at 541.55. The Index continued the bull run to rise around 3% and push the upbeat markets further in the day. Oberoi Realty hits a new high of Rs997.40 per piece and led the gains in an all-green sector. Sunteck Realty, DLF, and Brigade also scaled to new heights.
  • Domestic equity market benchmarks BSE Sensex and Nifty turned positive after a bleak opening. The benchmarks clocked a new all-time high as well.. BSE Sensex crossed 60,400 levels, while Nifty 50 hit the crucial 18,000 level. Read more

Nifty Auto outshines ahead of major earnings, index hits new high; Tata Motors tops 9.5%; Bharat For

Published on: 1:10 pm

  • Despite having their own set of uncertainties currently, yet automobile company stocks have become top picks on Monday's trading session. The rally in auto stocks comes during the time of festive season with Navaratri being the latest one. Also, the corporate earnings season for September 2021 period has taken centre stage. Although, the automakers are cautiously optimistic this festive season, however, that has not stopped investors from making value buying in the sector. Demand pickup and improvement in sales are expected in the industry, however, the productions are a matter of concern due to chip shortages.
  • At around 12.57 pm, Nifty Auto was trading at 11,435.90 higher by 356.55 points or 3.22%. The index has touched a new lifetime high of 11,442.70 earlier today. Read more

Gland Pharma receives tentative approval from USFDA for Sugammadex injection

Published on: 12:55 pm

  • Gland Pharma has received tentative approval from the United States Food and Drug Administration (US FDA) for Sugammadex Injection, 200 mg/2 mL (100 mg/mL) and 500 mg/5 mL (100 mg/mL) Single-Dose Vial, bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Bridion Injection, 100 mg/mL, of Merck Sharp & Dohme Corp. (Merck Sharp & Dohme).
  • Sugammadex Injection is used to reverse the effects of the muscle relaxants Rocuronium Bromide and Vecuronium Bromide given to patients during surgery. Read more

Aim for $450-$500B exports next year: Piyush Goyal

Published on: 12:52 pm

  • Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, Government of India, Piyush Goyal has called EPCs for $450-$500 billion exports next year.
  • Addressing a Mid-Term Review Meeting with heads of various Export Promotion Councils (EPCs) through video conferencing on Oct 9, Goyal directed discussions with all stakeholders before the new Foreign Trade Policy is finalized soon. Read more

Centre to launch auction of 40 new coal mines this week

Published on: 12:49 pm

  • The Coal Ministry will launch the next round of auction process for forty new coal mines for the sale of coal. The Union Minister of Coal, Mines and Parliamentary Affairs Pralhad Joshi will be the chief guest of the launch event to be held on the 12th of this month in the Ministry.
  • Since the Ministry has entered into a rolling auction mechanism, the coal mines rolled over from the previous tranche will also be on offer.
  • The Centre is on a continuous journey to reform the coal sector and unlock value for the nation’s economy. Read more

CARE Ratings assigns credit rating to Sadbhav Infra bank facilities

Published on: 12:48 pm

  • CARE Rating has assigned the credit rating to Sadbhav Infrastructure Project Limited. The rating on long-term / short-term bank facilities Rs400cr has been revised to CARE BB+/ CARE A4 (CWN) from CARE BBB / CARE A3+ (CWN) (Continues to be on Credit Watch with Negative Implications).
  • “The revision in the ratings assigned to the bank facilities of Sadbhav Infrastructure Project Limited (SIPL) reflects stretched liquidity position of Sadbhav group despite raising substantial long-term funds in H1FY22,” the company shared CARE Rating rationale. Read more

Jagran Prakashan appoints Amit Jaiswal as the Chief Financial Officer

Published on: 12:41 pm

  • Jagran Prakashan Ltd has informed that on October 09, 2021 the board has granted its approval for appointment of Amit Jaiswal as the Chief Financial Officer (Key Managerial Personnel) of the Company.
  • He is currently the Company Secretary and Compliance Officer of the Company (Key Managerial Personnel) and will continue to hold these positions.
  • Amit Jaiswal aged 45 years is a fellow member of the Institute of Company Secretaries of India. He holds a bachelor's degree in commerce, is a law graduate and also holds a post graduate diploma in business management. Read More

Centre reviews coal stock position in thermal power plants; Coal India, NTPC, Gail stocks rise

Published on: 12:40 pm

  • The stock price of companies like Gail India, Coal India and NTPC were in the fast lane on Monday after the Union Minister of Power, New and Renewable Energy, R.K. Singh reviewed the coal stock position in all thermal power plants including those plants which are supplying power to distribution companies.
  • In a statement, the Power Ministry highlighted that the total despatch of coal from all sources (Coal India Limited, Singareni Collieries Company, Captive Coal Mines and imported coal) was 1.92 million tonnes while the total consumption was 1.87 million tonnes. Thus, the coal despatch has exceeded the consumption, thereby indicating a shift to the gradual building up of coal stock. Read More

Indian Railways completes electrification work of total 649 route kilometer from Katihar to Guwahati

Published on: 12:32 pm

  • Indian Railways aims electrification of its complete Broad Gauge network by 2023-24 which would not only result in a better fuel energy usage resulting in increased throughput, reduced fuel expenditure but also savings in precious foreign exchange.
  • As per the Railways Ministry statement on Monday, in this series, Northeast Frontier Railway (NFR) has successfully completed the Electrification work of total 649 Route Kilometer (RKM)/ 1294 Tonne Kilometer (TKM) of High-Density Network (HDN) from Katihar to Guwahati. This great feat will now connect all major cities of the country with Guwahati on seamless Electric Traction. This is yet another effort by NFR for capital connectivity by Green Transportation. Read More

Market pulse at 12:30 PM today

Published on: 12:30 pm

  • Benchmark indices stay bullish on Monday noon trade as auto and realty stocks continue to soar.
  • BSE Sensex is currently 60,388.37 up 329.31 points or 0.55%.
  • Nifty50 is currently 18,012.10 up 116.90 points or 0.65%. Nifty Bank is 38,199.05, up 1.12%. Mid-cap Index is up 1.06%.
  • Tata Motors, Coal India, Maruti, Kotak Bank and Power Grid are the top gainers. TCS, Tech Mahindra, Wipro, HDFC Life, and Bharti Airtel are the top losers.
  • Nifty Auto and Realty stocks rise over 3% while Metal, Consumer Durables, Banking, and Financial Services stocks are also over 1% higher. Nifty IT stocks slump over 2.3%.
  • Out of 50 stocks traded on the BSE, 40 advanced and 10 declined. Read More

Civil Aviation Minister inaugurates greenfield Sindhudurg airport under the UDAN scheme

Published on: 12:29 pm

  • Union Minister of Civil Aviation, Jyotiraditya M. Scindia, along with Secretary, Ministry of Civil Aviation (MoCA), Rajiv Bansal, Usha Padhee, Joint Secretary, Ministry of Civil Aviation and Vineet Sood, CEO, Alliance Air virtually inaugurated the greenfield Sindhudurg airport in Maharashtra & also flagged off the first flight from Sindhudurg to Mumbai under the RCS-UDAN (Regional Connectivity Scheme - Ude Desh Ka Aam Naagrik) scheme of the Government of India. Chief Minister, Govt. of Maharashtra, Uddhav Thakeray graced the event virtually from Sindhudurg airport as the Guest of Honor.
  • Jyotiraditya M. Scindia, Union Minister of Civil Aviation in his address said “The inauguration of the Sindhudurg airport and start of flight to Mumbai marks a new chapter in the glorious history of the Konkan region. This development will open new avenues of growth of local trade and tourism. I am sure, with huge potential of the region, number of daily flights will increase to 20-25 within next 5 years.”  Read more

Bannari Amman Spinning Mills board approves allotment of equity shares on Rights Basis

Published on: 12:16 pm

  • Bannari Amman Spinning Mills Limited board of directors at in its meeting on October 9, 2021, approved the allotment of 3,33,33,333 paid-up Rights Equity Shares of the face value of Rs5 each at a price of Rs30/- per Rights Equity Share (including premium of Rs25 per Rights Equity Share) to the eligible applicants.
  • The company stock was under pressure on Monday and at around 12.20 pm, Bannari Amman Spinning Mills Ltd was trading at Rs65.50 per piece down by Rs0.9 or 1.36% from its previous closing of Rs66.40 per piece on the BSE. Read more

Centre imposes stock limits to soften the prices of edible oils in the domestic market

Published on: 12:03 pm

  • The Department of Food and Public Distribution in a landmark decision has imposed stock limits on Edible Oils and Oilseeds for a period upto March 31, 2022.
  • The Removal of Licensing Requirements, Stock Limits and Movement Restrictions on Specified Foodstuffs (Amendment) Order, 2021 has been issued with immediate effect i.e. from 8th September 2021. Future trading on Mustard Oil and Oilseeds was suspended in NCDEX w.e.f October 08, 2021, accoeding to the Ministry of Consumer Affairs, Food & Public Distribution.. Read More

Aditya Birla Sun Life AMC made tepid listing; stock lists at Rs715 on NSE

Published on: 11:57 am

  • Shares of Aditya Birla Sun Life AMC made a tepid listing on Monday. The shares got listed at Rs715 on NSE over its issue price of Rs712. On BSE, the stock debuted flat at Rs712.
  • The stock is currently trading at Rs705.65 down by Rs6.35 or 0.89% from its previous closing of Rs712 on the BSE. The scrip opened at Rs712 and has touched a high and low of Rs721 and Rs700 respectively. Read More

Prestige Estates registers 88% yoy sales growth to Rs2111.9cr in Q2FY22

Published on: 11:57 am

  • Prestige Estates has announced its updates on real estate operations for the quarter ending September 30, 2021 & H1FY22. During Q2FY22, the Group has registered highest quarterly sales of Rs2111.9cr, up 88% yoy and has clocked collections of Rs1551.5cr, up 35% yoy, resultant H1F22 sales at Rs2845.8cr and collections at Rs2573.8cr.
  • Commenting on Q2/H1F22 performance, Irfan Razack, Chairman, Prestige Group “We are delighted to announce our robust performance during Q2F22. Despite the challenging environment, Prestige has clocked highest quarterly sales and collections. Read More

Nifty Bank advances 1%; Kotak Bank, HDFC Bank, ICICI Bank among top gainers

Published on: 11:55 am

  • The Nifty Bank Index rose over 1% amid bullish markets on Monday. Kotak Mahindra Bank led the gains. HDFC Bank and ICICI Bank rallied after a dull day on Friday when Banking stocks were muted despite the RBI Policy announcement of keeping the repo-rate unchanged at 4%. Bandhan Bank tanked 4% after emerging among the top gainers towards the end of last week.
  • In the PSU Bank sector, Indian Bank and Union Bank were also bullish. UCO Bank sank 3% and Punjab & Sind Bank was also under pressure. City Union Bank extended gains in the Private Bank sector. Read More

After TCS Q2, Infosys and Wipro earnings in focus

Published on: 11:48 am

  • Major IT stocks were in a bloodbath during the early deals of Monday after the giant Tata Consultancy Services (TCS) announced its financial performance for the September 2021 quarter. TCS along with its peers Infosys and Wipro were in a nosedive on stock exchanges.
  • TCS tumbled by nearly 7% so far today with an intraday low of Rs3660 per piece after its earnings announcement. At around 11.40 am, TCS was trading at Rs3729.40 per piece down by 5.22% on Sensex. Read More

Evexia Lifecare updates on API manufacturing plant and subsidiary; Stock up 4%

Published on: 11:37 am

  • Evexia Lifecare Ltd has informed to the exchange with reference to the disclosures dated July 30, 2021 relating to setup of Active Pharmaceutical Ingredient (API) manufacturing plant of Isometamidium (Isometa), the company has completed the process of application for environment clearance with the concerned government authority and has procured all the required plant and machinery at Vadodara plant location.
  • It is to be noted that once the Company receive the Environment Clearance (EC) from the concern Government Authority, the installation and production work will commence, said the company in a regulatory filing. Read More

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