Live market updates

12th Oct, 2021

AI-Powered TCS TwinX now available on Google Cloud

Published on: 4:54 pm

  • Tata Consultancy Services has announced that TCS TwinX, an Artificial Intelligence (AI)-powered enterprise digital twin platform for risk-free business simulations, is now available on Google Cloud.
  • TCS TwinX combines cutting-edge research on AI and actor-based modeling to help envision, experiment, and execute business decisions through a digital twin-based simulator.
  • It creates a digital twin of the enterprise’s entire value chain i.e., customers, products, processes, partners, and resources along with their interrelationships. Once modelled as twins, TwinX enables enterprises to simulate behavior in response to decisions. Read more

PSP Projects emerge L1 bidder for one govt residential project worth Rs238.70cr

Published on: 4:51 pm

  • PSP Projects has emerged as the lowest bidder (L1 bidder) for one government residential project in Uttar Pradesh.
  • The project values to Rs238.70cr (excluding GST).
  • On Sensex, PSP Projects finished at Rs501.10 per piece down 0.6%. Read more

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Thomas Cook and SOTC launch series of consumer roadshows to capitalise on opportunity of this festiv

Published on: 4:46 pm

  • To capitalise on a high potential opportunity, Thomas Cook India and its Group Company, SOTC Travel, have launched a series of physical consumer roadshows across key source markets pan India. The steady lifting of restrictions across India and international destinations, vaccine acceptance and the potential reopening of commercial flights, is giving rise to significant travel demand. Additionally, India’s upcoming Festive Season is proving to be a powerful driver of travel desire.
  • Travel intent is at an all-time high: Thomas Cook & SOTC’s latest survey reveals that over 85% of respondents are keen to holiday between October to December 2021; 77% preferring international travel and 82% domestic. However, the constant flux in entry-exit regulations and health-safety protocols can be challenging. Read more

CRISIL upgrades rating of Astral's long-term bank facilities

Published on: 4:43 pm

  • Astral Limited (Astral; erstwhile Astral Poly Technik Ltd, Astral; part of the Astral group) long-term bank facilities have been upgraded to ‘CRISIL AA/Stable’ from ‘CRISIL AA-/Positive’ while reaffirmed its short term rating and commercial paper at ‘CRISIL A1+’ by country’s leading rating agency, CRISIL.
  • The rating upgrade replicates CRISIL expectations of sustenance of Astral’s improved business profile supported by improved capacity utilization levels, wider geographic presence and product portfolio.
  • The ratings reflect the group’s leadership position in the CPVC pipes and fittings segment, supported by established brands and an entrenched market presence and the experience of the promoter. Read more

RattanIndia Enterprises appoints Rajesh Arora as new Company Secretary and Head - Legal

Published on: 4:39 pm

  • RattanIndia Enterprises announce the appointment of Rajesh Arora, as Company Secretary, Compliance Officer and Legal Head of the company. Rajesh Arora was previously associated with Mahindra & Mahindra Limited as Sr. General Manager, Group Secretarial. Arora is a qualified Company Secretary as well as a Law Graduate from the University of Delhi.
  • Rajesh Arora brings with him over 28 years of Secretarial and Legal experience across different industries. He has deep expertise in Joint Ventures, Mergers & Acquisitions, Demergers, Strategy Planning, Secretarial and Legal Affairs. Mr. Rajesh Arora has previously worked as General Manager – Legal & Company Secretary of Britannia Industries Limited. Read more

Everest Organics ends 15% higher on development of Molnupiravir, a new API to treat Covid-19

Published on: 4:35 pm

  • Everest Organics Limited on Tuesday has announced the successful development of an anti-viral APl 'MOLNUPIRAVIR' an additional COVID -19 treatment drug that is being developed at Lab Scale for the first-line treatment of COVID-19 in adults patients with mild to moderate symptoms.
  • Dr. Srikakarlapudi Sirisha, Chief Executive Officer, EOL - New Product Development said that "After the successful development and commercialization of various COVID-19 drugs, such as Oseltamivir, Remdesivir, Posaconazole, Everest Organics Limited is on its path of expansion of this portfolio and hence has further developed an additional COVID-19 treatment API in that segment. Read more

Securitisation framework credit neutral and improves liquidity of residential mortgages: Ind-Ra

Published on: 4:21 pm

  • India Ratings and Research (Ind-Ra) opines the Reserve Bank of India’s recently announced master directions for loan transfers and securitisations of standard assets will have no impact on its securitisation rating methodology and thus on the credit ratings of its rated existing securitisation transactions. The agency believes the announcement however impacts the loan assignment and securitisation market, with respect to transaction volumes, product structures and market practices. Ind-Ra notes the following overarching features and expects the consequent impact on the market:
  • RMBS Issuances Likely to Grow: Ind-Ra expects the liquidity of residential mortgage loans to improve due to the favourable revision in the minimum holding period, minimum retention requirements and credit enhancement (CE) reset conditions. Ind-Ra expects the residential mortgage backed securitisations (RMBS) volumes to improve as the loans eligible for securitisation increase and transaction economics get favourable. Read more

Gayatri Highways plans to acquire in Cyberabad Expressways for ~2.70cr

Published on: 4:20 pm

  • Gayatri Highways Limited has proposed to acquire 11.54% of Equity Share Capital and 11.54% of Optionally Convertible Debentures (OCD’s) in Cyberabad Expressways Limited from the Existing Security Holder of the Target Company.
  • The Existing Shareholder of Target Company has agreed for the sale of their 11.54% equity shareholding 2,28,462 fully paid-up equity shares of the face value of Rs10/- each for consideration of Rs5.22/- each share aggregating to Rs11,92,572 and 11.54% of Optionally Convertible Debentures (OCD’s) 49,32,692 OCD’s of the face value of Rs10 each for consideration of Rs5.22/- each debenture aggregating to Rs2,57,48,652/- to Gayatri Highways Limited, Total consideration for acquisition amounting to Rs2,69,41,224/-. Read more

Credit profile of auto ancillaries to remain largely stable, despite short-term challenges: ICRA

Published on: 4:13 pm

  • Ratings agency ICRA expects a 17-20% revenue growth for the domestic auto component sector in FY2022, driven by domestic OEM, replacement, export volumes and pass-through of commodity prices. The healthy volume growth would, however, come on a low base of FY2021.
  • The growth forecasts have been revised downward by 300 bps from the earlier estimates due to the impact of semi-conductor shortage on domestic OEM and export revenues. The operating profit margin (OPM) of auto ancillaries (ex-tyres) will remain lower than normal levels (FY2020). Read more

Larsen & Toubro-led construction arm bags major order from various businesses

Published on: 4:07 pm

L&T Construction, the construction arm of Larsen & Toubro Ltd has secured various orders in India for its businesses.

Metallurgical & Material Handling:
  • The Metallurgical a Material Handling (MMH) Business has secured an order to set up Coke Oven, By Product and Coke Dry Quenching plants, given its competence and capability to deliver complex plants in the steel sector. Read more

Schaeffler India to consider stock split in board meeting on October 28

Published on: 4:01 pm

  • Schaeffler India said in an exchange filing on Monday that the board of the company will meet on October 28 to consider the proposal of a sub-division of equity shares of the company.
  • Also, the company will announce its financial results for the quarter ended September 30, 2021.
  • “The board will consider sub-division of equity shares of the Company in such manner as may be determined by the Board of Directors,” the company said. Read more

CARE assigns BB+/ Positive rating for bank facilities of Zodiac Clothing; Stock ends 2.5% higher

Published on: 4:00 pm

  • CARE Ratings Ltd. has assigned the long-term rating of CARE BB+; Positive for Rs54cr Line of Credit of Zodiac Clothing Limited.
  • “The ratings assigned to the bank facilities of Zodiac Clothing Limited (ZCCL) continue to derive strength from the long track record and established the brand presence of the company in the men's wear segment supported by wide geographical presence.The ratings take note of the comfortable capital structure and adequate liquidity profile of the company. Additionally, the ratings also factor in promoter's experience in the apparel segment and the financial support extended to the company,” the company shared CARE Rating rationale. Read more

Markets close higher; Banking and Consumer Durables stocks outperformed

Published on: 3:39 pm

  • Markets witnessed a positive day of trade, with the benchmark index closing higher as the indices closed on record highs.
  • Bank Nifty outperformed the Nifty by 0.25% for the second consecutive trading session with both the indices closing ~0.6%/0.35% higher.
  • Banking and consumer stocks were among the top outperformers with stocks like SBI, Titan & Bata adding heavy long positions during the day. Read more

GM Breweries hits 52-week high on robust Q2FY22 numbers

Published on: 3:19 pm

  • Shares of GM Breweries hit a 52-week high on the BSE after posting a robust Q2FY22 number today. The company has posted a 95.5% rise in its Q2FY22 net profit at Rs21.85cr against Rs11.21cr during the previous quarter ended September 2020.
  • The sales also increased by 59.69% to Rs115.95cr in the quarter ended September 2021 as against Rs72.61cr during the previous quarter ended September 2020.
  • The stock is currently trading at Rs877.50 up by Rs100.6 or 12.95% from its previous closing of Rs776.90 on the BSE. Read more

Bank of Baroda trims MCLR by 5-10 basis points on various tenors from today

Published on: 3:18 pm

  • Bank of Baroda has approved the revision of Marginal Cost of Funds Based Lending Rate (MCLR) w.e.f. October 12, 2021.
  • MCLR of 6.55% (overnight) has been reduced to 6.50%. For one-month tenor, MCLR has been reduced from 7.00% to 6.90% and for three-month tenor 7.10% to 7.05%.
  • The MCLR has been also reduced on six months’ tenor from 7.20% to 7.15% and One Year 7.35% to 7.30%. Read more

Acuite assigns rating to Ducon Infratechnologies' bank facilities; Stock gains

Published on: 3:10 pm

  • Acuité has assigned the long term rating of 'ACUITE BB' and the short term rating of 'ACUITE A4+' on the Rs112cr bank facilities of Ducon Infratechnologies Limited (DIL). The outlook is ‘Stable’.
  • As per rationale, the rating takes into account the established track record of operations and extensive experience of the promoter in the Industrial Machinery and moderate financial risk profile of the company over the years.
  • Further, the rating also factors the unexecuted healthy order book position from reputed clientele such as NTPC Limited. However, the rating has been constrained by the deterioration in business risk profile of the company in last two years followed by working capital intensive nature of operations and stretched liquidity position of the company. Read more

Alembic Pharmaceuticals receives EIR from USFDA on new Injectable Facility (F-3) at Karakhadi

Published on: 3:01 pm

  • Alembic Pharmaceuticals has received Establishment Inspection Report (EIR) from the US Food and Drug Administration (USFDA) for the inspection carried out by the regulator at the company's New Injectable Facility (F-3) at Karakhadi.
  • In its regulatory filing, Alembic said that "the Company has received Establishment Inspection Report (EIR) from US Food and Drug Administration (USFDA) for the inspection carried out by them at our New Injectable Facility (F-3) at Karakhadi during the period from 28th January 2021 to 5th February 2021, indicating that the USFDA finds our responses to their observations to be adequate."
  • Further, Alembic added, "USFDA has also indicated that a compliance verification would be performed during re-inspection of the said Facility in the next review cycle." Read more

Acuite assigns credit ratings on Kanpur Plastipack facilities; Stock dips 2%

Published on: 2:56 pm

  • Acuite, Credit Rating Agency has assigned credit ratings on various credit facilities availed by Kanpur Plastipack Limited. The rating on long-term facilities of the company has been assigned Acuite A- with Stable Outlook. On short-term facilities, Acuite A2+ rating has been assigned.
  • “This is in addition to the existing Credit Rating obtained by the company from CRISIL,” the company said in a filing on Monday.
  • Ata round 3.00 pm, Kanpur Plastipack Ltd was trading at Rs165.35 per piece down by Rs3.6 or 2.13% from its previous closing of Rs168.95 per piece on the BSE. Read more

Ashoka Buildcon stock nears record high on receipt of provisional certificate for NHAI project

Published on: 2:54 pm

  • Ashoka Buildcon intimated exchanges that the declaration of October 09, 2021 as the Commercial Operation Date (CoD) for its Hybrid Annuity Mode (HAM) Project of National Highways Authority of India ("NHAI") vide letter issued by Independent Engineer on October 11, 2021 for the Project viz. Six Laning of Khairatunda to Barwa Adda Section of NH-2 from km. 360.300 to km. 400.132 in the State of Jharkhand under NHDP Phase-V on Hybrid Annuity Mode ("Project").
  • The Project is executed by Ashoka Khairatunda Barwa Adda Road Limited, (SPV) a Wholly Owned Subsidiary of Ashoka Concessions Limited, a Subsidiary of the Company. Read more

Tata Motors accelerates BEST’s green mobility journey, completes electrification of Worli depot

Published on: 2:47 pm

  • Tata Motors announced the successful installation of the complete vehicle charging infrastructure at of the Worli BEST depot.
  • In a statement, Tata Motors stated that Worli depot will be the fourth BEST depot to be electrified, after Backbay, Malvani and Shivaji Nagar depots, enabling wider reach of the electric buses in the city of Mumbai.
  • The company has been delivering the electric buses to BEST as per schedule. Read more

Nifty Auto continues gaining spree, earmarks fresh record of over 15,525; Tata Motors again hits new

Published on: 2:33 pm

  • The stellar rally continued in Nifty Auto even on Tuesday amid broad-based buying with heavyweights shining. Tata Motors stayed an outperformer as it further extended its 52-week highs. The index crossed over 11,525 for the first time. Investors have been upbeat in auto stocks as corporate earnings season for Q2FY22 is observed keenly.
  • At around 2.22 pm, Nifty Auto was trading at 11,454.20 up 78.65 points or 0.69%. The index has hit a new 52-week high of 11,525.50.
  • Bajaj Auto was the top bull surging 3% followed by TVS Motor and Tube Investments soaring more than 2% each. Read more

Market pulse at 2:30 PM today

Published on: 2:30 pm

  • Indices traded marginally higher; PSU Bank and Consumer Durables stocks emerged as top bulls for the day, while IT and Pharma weighed down.
  • BSE Sensex is at 60,234.03 up 98.25 points or 0.16%.
  • Nifty50 is at 17,974.05 up 28.10 points or 0.16%. Nifty Bank is 38,536.65, up 0.63%. Mid-cap Index is up 0.63%. Read more

Add-Shop E-Retail to launch marketing campaign to open new franchises

Published on: 2:22 pm

  • Add-shop E-Retail Ltd has announced to the exchanges that the Company is going to launch marketing campaign across the India from October 16, 2021.
  • This campaign will be lead by the marketing director Jigar Pandya with the agriculture expert Maharshi Purohit and his well qualified team of 58 members, said company in a regulatory filing.
  • The campaign will start from Surat, Vyara in (Gujarat), then Pune, Kolhapur, Mumbai in (Maharashtra). Belgaun, Hubli, Drongiri, Bengaluru, Maysore, Hasan, Shivmoga in (Karnataka). Varansi, Prayagraj, Lucknow in (U.P.). Bakshar (Bihar). Bhubneshwar in (Odisha). Chandigarh, Ludhiyana and Jagrav in (Punjab) Etc.and many remote areas are also included in this campaign, it added. Read more

Suryoday Small Finance Bank records double-digit growth in gross advances, disbursements rise over 1

Published on: 2:21 pm

  • Suryoday Small Finance Bank registered gross advances of Rs4,471cr in the quarter ending September 2021 (Q2FY22), rising by a whopping 19.6% yoy and 11.7% qoq. The Bank's disbursement for the quarter stood at Rs1,061cr up 194.4% yoy and 196.1%  qoq.
  • The Bank's deposits stood at Rs3,129cr in the quarter under review, declining by 5.7% yoy and 0.3% qoq.
  • CASA was at 18.49% in Q2FY22 expanding by 741 basis points on a year-on-year basis and 232 basis points on a quarter-on-quarter basis. Read more

Total Transport Systems gets awarded additional 50 new stations by Flipkart as their ODH

Published on: 2:16 pm

  • Total Transport Systems Limited, an established name in the Indian market offering consolidation & deconsolidation and freight forwarding of cargoes from all major locations across the globe & last-mile connectivity in India, announced Monday that the company has been awarded 50 new stations by Flipkart as their ODH (Outsourced Delivery Hub).
  • This is a concept where the principal, in this case, Flipkart delivers the shipments to the small delivery hubs owned by the vendors and vendors are responsible to deliver the shipments to the end customers as per the principals pre-defined rules and guidelines.
  • The company started this business with Flipkart in the month of September 2019 with 1 Hub and grown up to around 80 Hubs serving around 331 Pin codes of 11 States (Madhya Pradesh, Rajasthan, Maharashtra, Telangana, Himachal Pradesh, Punjab, Tamil Nadu, Karnataka, Jammu & Kashmir, Gujarat & Tamil Nadu) with Shipment count of around 40K per day. Read more

Aurobindo Pharma trades flat after clarification on news item

Published on: 2:08 pm

  • Aurobindo Pharma shares were trading in the flat zone on Tuesday after company clarified on the news item that “Aurobindo, MSN To Halt Phase 3 Trial In Moderate Covid Patients"
  • In the regulatory filing, the company said “Earlier during the year, the Company entered into a non-exclusive voluntary licensing agreement with MSD Pharmaceuticals for their investigational antiviral drug (Covid-19) molnupiravir. The Company has completed the trials for molnupiravir in mild Covid-19 patients as per protocol and the results have come out exceedingly well. The data for the same has been submitted to the Drug Controller General of India (DCGI) already.” Read more

Ujjivan Small Finance Bank logs 114% yoy rise in disbursements during Q2; Stock jumps near 13% so fa

Published on: 1:58 pm

  • Ujjivan Small Finance Bank posted a gross loan book of Rs14,508cr in the quarter ending September 2021 (Q2FY22), rising by 4% yoy and 3% qoq.
  • The Bank's disbursements for the quarter was at Rs3,122cr increasing by a whopping 114% yoy and 138% qoq.
  • The Bank's total deposits were at Rs14,090cr in the quarter under review, growing by 31% yoy and 3% qoq. Read more

ConCors total physical volumes increases 10.74% yoy during Q2FY22

Published on: 1:51 pm

  • Container Corporation Of India Ltd has informed to the exchange regarding physical volumes handled by the company in Q2FY21.
  • In a regulatory filing on Tuesday, company informed that total physical volumes handled by ConCor increased by 10.74% to 9,80,757 (TEUs) in Q2FY22 as compared to 8,85,673 TEUs in Q2 FY21.
  • Whereas, the (DOM) Domestic physical volumes jumped by 33.68% to 1,88,332 TEUs during the quarter. Read more

CARE reaffirms ratings on Gujarat State Petronets bank facilities

Published on: 1:35 pm

  • Gujarat State Petronet Ltd has informed that CARE Ratings has reaffirmed the ratings on bank facilities of the Company.
  • Long-term ratings has been reaffirmed to CARE AA+/Stable while short-term ratings has been reafirmed to CARE A1+.
  • As per rationale report, the ratings assigned to the bank facilities of Gujarat State Petronet Limited (GSPL) continue to derive strength from its established position Read more

Market pulse at 1:30 PM today

Published on: 1:30 pm

  • Indices trade flat amid volatile trade; PSU Bank stocks surge.
  • BSE Sensex is currently 60,054.24 down 81.54 points or 0.14%.
  • Nifty50 is currently 17,925.60 down 20.35 points or 0.11%. Nifty Bank is 38,347.55, up 0.14%. Mid-cap Index is up 0.22%.
  • Titan, Bajaj Finserv, Bajaj Auto, Hero MotoCorp and State Bank of India are the top gainers. HCL Tech, Tech Mahindra, Coal India, Mahindra & Mahindra, and Ultratech Cement are the top losers.
  • Nifty PSU Bank stocks rise over 2.3% while Consumer Durables stocks maintain 2% higher trade. Nifty IT and Pharma stocks are under pressure. 
  • Out of 50 stocks traded on the BSE, 24 advanced and 26 declined. Read More

Rakesh Jhunjhunwala-led Akasa Air receives NOC from Aviation Ministry, plans to begin operations fro

Published on: 1:28 pm

  • The Civil Aviation Ministry has given its clearance to Rakesh Jhunjhunwala-backed  'Akasa Air' to commence operations from next year. The airline has received the no-objection certificate (NOC) from the Centre and is expected to take the air from the summer of 2022.
  • SNV Aviation will fly under the brand name Akasa Air. The company will work with the aviation regulator on all additional compliances.
  • Akasa Air is backed by the Dalal Street king, Rakesh Jhunjhunwala and also ex-Jet Airways CEO Vinay Dube. Read More

Nifty Metal rallies amid rising aluminium prices; Vedanta, Hindalco led the bull run

Published on: 1:12 pm

  • Nifty Metal index rallied despite volatile markets on Tuesday. Vedanta Limited led the charge, meanwhile, National Aluminium and Hindalco were also in the fast lane. The performance in metal stocks emerge amid rising aluminium prices.
  • Globally Aluminium prices rose on Monday to their highest since 2008 due to increases in costs of energy and raw materials used to make the metal and output cuts by the biggest producer, China.
  • Coal India emerged the laggard amid Asia coal prices surging to fresh records. NMDC and Welspun Corp also dragged the sector. Read More

Trident stock hits 5% upper circuit ahead of Q2 earnings, to consider first interim dividend for FY2

Published on: 1:05 pm

  • Trident will be announcing considering the first interim dividend for the financial year FY22, on October 21, 2021. The company's stock has locked at the upper circuit on Dalal Street during Tuesday's session
  • In its regulatory filing today, Trident said that the Board Meeting of the Company will be held on Thursday, the 21st day of October 2021, inter-alia:
  • 1. To consider and approve the Standalone and Consolidated Unaudited Financial Results of the Company for the Quarter and Half Year ended on September 30, 2021. Read More

Tourism Finance Corporation secures Rs65.18cr via preferential shares allotment

Published on: 12:44 pm

  • New Delhi based Tourism Finance Corporation of India Limited (TFCI), a financial institution, has secured Rs65.18cr by way of preferential allotment of 96,55,700 fully paid-up equity shares of the face value of Rs10/- each at an issue price of Rs67.50/- including a premium of Rs57.50/- each.
  • TFCI will use the funds to boost its strong position in the lending ecosystem and to accelerate its strategic priorities. TFCI provides a long-term line of credit to tourism-related projects and the Company has a vision to “play the role of an investment catalyst for the Indian tourism sector”. Read more

Market pulse at 12:30 PM today

Published on: 12:30 pm

  • Benchmark indices turn bearish; Consumer Durables stocks surge 2% while IT stocks continue to weigh down.
  • BSE Sensex is currently 59,953.50 down 182.28 points or 0.30%.
  • Nifty50 is currently 17,894.95 down 51 points or 0.28%. Nifty Bank is 38,243.45, down 0.13%. Mid-cap Index is up 0.02%.
  • Titan, Bajaj Finserv, Bajaj Auto, Eicher Motors and Hero MotoCorp are the top gainers. HCL Tech, Tech Mahindra, Coal India, Ultratech Cement, and IOC are the top losers.
  • Nifty Consumer Durables surge 2% to drive trade while Auto and FMCG stocks also trade higher. Nifty IT stocks remain under pressure. 
  • Out of 50 stocks traded on the BSE, 18 advanced and 32 declined. Read more

Tata Power Solar secures orders worth Rs538cr from EESL; Stock gains over 1%

Published on: 12:23 pm

  • Tata Power Solar Systems Limited (Tata Power Solar), one of India’s largest integrated solar company and a wholly-owned subsidiary of Tata Power, has received “Letter of Award” (LoA) to build 100 MW of Distributed Ground Mounted Solar projects for Energy Efficiency Services Limited (EESL). The total order value of projects is Rs538cr. The commissioning date of the projects is set for 12 months
  • With this win, the Utility Scale EPC order book of Tata Power Solar now stands at ~4GW (DC) capacity with an approximate value of Rs9,264cr (without GST), thereby strengthening its position as India’s leading Solar EPC player. Read More

ICICI Bank allots over 2.61 equity shares under ESOS; Stock sheds 1%

Published on: 12:11 pm

  • ICICI Bank Ltd has informed that the Bank has allotted 2,61,146 equity shares of face value of Rs2 each on October 11, 2021 under the Employee Stock Option Scheme (ESOS).
  • Recently, ICICI Bank executes Secured Overnight Financing Rate (SOFR) linked transactions. The transactions were carried out with a corporate client through the bank's international offices.
  • At around 12:10 PM, ICICI Bank was trading at Rs706.40 per piece lower by 0.94% on Sensex. The current market cap of the company is Rs4,94,540.03cr. Read more

Nifty Consumer Durables at new lifetime high, crosses 29,510 first time; Titan hits fresh 52-week hi

Published on: 12:10 pm

  • Consumer Durable stocks were top bulls on Tuesday despite broader volatile markets. A broad-based buying was witnessed in the Nifty Consumer Durable index with heavyweight Titan outperforming peers and contributing massively in the upside. The corporate earnings season for September 2021 (Q2FY22) quarter will be in focus.
  • The index has touched a new 52-week high of 29,513.60.
  • At around 11.55 am, the index was trading at 29,432.75 higher by 487.05 points or 1.7%. On the index, 10 scrips advanced and 5 scrips declined.
  • Titan was the top gainer soaring by nearly 4%. The stock has hit a new 52-week high of Rs2,464.90 per piece in the early deals. Read more

Nifty FMCG trades higher amid volatile markets; Radico Khaitan hits new high to lead the gains

Published on: 12:10 pm

  • The Nifty FMCG stocks traded higher amid volatile markets on Tuesday. Radico Khaitan stock continued to scale new heights and hit fresh record of Rs1185 per piece during intraday trade on Tuesday. Dabur IndiaMarico and United Spirits were also in the fast lane. Emami led the laggards.
  • Indian benchmark indices swung between gains and losses on Tuesday amid weakness in global peers. Consumer Durables stocks led the gains followed by FMCG and auto stocks.
  • At around 12.10 pm, BSE Sensex was trading at 60,014.24 down 121.54 points or 0.20% and Nifty50 at 17,907.15 down 38.80 points or 0.22%. Read More

Tata Motors hits 52-week high after total global sales rise 24% in Q2FY22

Published on: 12:09 pm

  • Shares of Tata Motors hit a 52-week high at Rs420.75 on the BSE in the early morning trade after its total global sales up 24% in Q2FY22. Tata Motors Group global wholesales in Q2 FY22, including Jaguar Land Rover, were at 2,51,689 units, higher by 24%, as compared to Q2 FY21.
  • Global wholesales of all Tata Motors commercial vehicles and Tata Daewoo range in Q2 FY22 were at 89,055 nos., higher by 57%, over Q2 FY21, the company said in the filing.
  • However, the stock has corrected from morning gains amid weak global cues. The stock is currently trading at Rs419 up by Rs3.35 or 0.81% from its previous closing of Rs415.65 on the BSE. Read More

RBI bans Haribhakti from auditing regulated companies for 2 years starting April 2022

Published on: 11:55 am

  • The Reserve Bank of India has informed on Tuesday that it has banned Haribhakti & Co. LLP, Chartered Accountants from undertaking any type of audit assignments in any of the entities regulated by RBI.
  • The ban is for a period of two years with effect from April 1, 2022 in exercise of the powers vested under section 45MAA of the Reserve Bank of India Act, 1934.
  • Further, this action has been taken on account of the failure on the part of the audit firm to comply with a specific direction issued by RBI with respect to its statutory audit of a Systemically Important Non-Banking Financial Company. Read More

Rudrabhishek Enterprises to provide consultancy services for City Street Vending plans in Jharkhand;

Published on: 11:52 am

  • The Directorate of Municipal Administration (UD&HD), Government of Jharkhand has appointed Rudrabhishek Enterprises to provide consultancy services for GIS-based City Street Vending Plans in 2 clusters. This project falls under Deendayal Antyodaya Yojana-National Urban Livelihoods Mission (DAY-NULM) to support Urban Street Vendors.
  • Pradeep Misra (CMD-REPL) shared "Urban street vendors are an indispensable component of the supply chain in the urban economy. They form a sizeable workforce. It is important to recognize and include them in the formal policy framework. The project aims to promote the sustainable development of the large informal and unorganized workforce in urban areas. Our experience of working on similar projects in Haryana, U.P., Assam and Punjab will further assist us in executing this project with finesse," adding, " We are going to involve in the second phase of project implementation at Jharkhand." Read More

Hero MotoCorp trades over 1.5% higher after launch of new Pleasure+ ‘XTec’ scooter

Published on: 11:40 am

  • Hero MotoCorp Limited, the world’s largest manufacturer of motorcycles and scooters, on Monday launched the new Pleasure+ ‘XTec’. The company said in a filing that Pleasure+ XTec adds to the ever-growing appeal of the iconic Pleasure brand. The new LED projector headlamp - a first-ever feature in the 110cc segment - enhanced aesthetics and new vibrant paint in Jubilant Yellow bring a fresh appeal to the scooter.
  • With enhanced technology features such as Hero’s revolutionary i3S Technology, (IdleStop-Start System), digital-analog speedometer with Bluetooth connectivity with call and SMS alerts, Side-Stand Engine cut off, Metal Front Fender, the rider can master any driving situation with confidence. Read More

Antony Waste Handling Cell logs 33% yoy rise in core operating revenues during Q2FY22

Published on: 11:35 am

  • Antony Waste Handling Cell has updated about business performance for the quarter ending September 2021 (Q2FY22). The company's total operating revenue (tipping revenue from C&T, Mechanical Power Sweeping and Waste Processing) has shown a growth of around 9% for Q2 FY22 as compared to Q1 FY22 (sequentially). On a YoY basis, core operating revenues have risen by around 33%.
  • Further, the company's total tonnage handled by the Collection & Transportation business (excluding those projects with fixed shifts/trips) in Q2 FY22 has reported around 12% growth over Q1 FY22 sequentially (around 20% YoY), while total waste processed by the Company during Q2 FY22, has improved by around +4% sequentially and YoY around 12%. Read More

Tata Metaliks dips 6% as net profit falls 33.4% yoy to Rs54.62cr in Q2FY22

Published on: 11:32 am

  • Tata Metaliks Limited dipped near 6% to Rs 1070 after the company announced its financial results for the quarter ended September 30, 2021.
  • Key Highlights:
  • The Company's net profit declined by 33.4% to Rs54.62cr in Q2 FY22 against Rs82.20cr in Q2 FY21.
  • However, company's revenue from operations rose to Rs644.84cr during the quarter from Rs519.63cr yoy. Read More

Market pulse at 11:30 AM today

Published on: 11:30 am

  • Indices trade flat amid volatile trade; Consumer Durables stocks surge nearly 2% while IT stocks continue to weigh down.
  • BSE Sensex is currently 60,079.06 down 56.72 points or 0.09%.
  • Nifty50 is currently 17,928.75 down 17.20 points or 0.1%. Nifty Bank is 38,371.75, up 0.20%. Mid-cap Index is up 0.11%.
  • Titan, Bajaj Auto, Bajaj Finserv, Eicher Motors and Hero MotoCorp are the top gainers. HCL Tech, Tech Mahindra, Coal India, Mahindra & Mahindra, and HDFC Life are the top losers.
  • Nifty Consumer Durables surge 1.9% to drive trade while Auto stocks are also bullish. Nifty IT stocks remain under pressure. 
  • Out of 50 stocks traded on the BSE, 20 advanced, 29 declined and 1 unchanged. Read More

KKR appoints Joe Bae and Scott Nuttall as Co-Chief Executive Officers

Published on: 11:30 am

  • KKR & Co. Inc. (together with its subsidiaries, “KKR”), a leading global investment firm, announced that Joe Bae and Scott Nuttall have been appointed Co-Chief Executive Officers, and Co-Founders Henry Kravis and George Roberts will remain actively involved as Executive Co-Chairmen of KKR’s Board of Directors. The leadership transition is effective immediately.
  • “Whether reflecting on the business, our mission or the team that undertakes it, we are proud of what we have built to support companies and serve our clients over the last four and a half decades.  Joe and Scott—over the last 25 years—have played a significant role in that endeavor and in shaping the firm, its culture, and our market leading businesses into what they are today. As Co-Presidents and Co-Chief Operating Officers, they have worked collaboratively and cemented a strong leadership team that has taken the firm to new heights,” KKR Co-Founders and Executive Co-Chairmen of KKR’s Board of Directors Henry Kravis and George Roberts said. Read more

Welspun Corp becomes first from India to join the H2Pipe Joint Industry Project on Hydrogen Pipeline

Published on: 11:28 am

  • Welspun Corp has joined a global H2Pipe Joint Industry Project (JIP) on the Design and Operation of Hydrogen Pipelines launched by leading industrial certification body DNV AS Energy Systems Pipeline Technology. The company will help develop a recommended practice (RP) for the design, re-qualification, construction and operation of pipelines for hydrogen gas transportation in offshore pipelines and complement existing standards such as DNVGL ST F101 (submarine pipeline systems).
  • This industry-first project will provide guidance to the global energy sector as it shifts towards clean energy using alternative sources, with Hydrogen emerging as an important pillar for the energy transition. Read More

Embassy of Brazil authorizes BLS International for visa processing in India

Published on: 11:21 am

  • BLS International announced today that it has been authorized by The Embassy of Brazil in India for visa application processing. Under this mandate, the company will be accepting visa applications from centres in Delhi and Mumbai in India.
  • Shikhar Aggarwal, Joint Managing Director, BLS International said, “We are glad to partner with The Embassy of Brazil in India to provide seamless visa processing across the country. We are already working with the Government of Brazil in Lebanon as well as China and this is the testimony of our best-in-class service delivery that they choose BLS for India as well.” Read More

Trigyn Technologies wins staff augmentation contract for NYCHA; Stock hits 10% upper circuit

Published on: 11:17 am

  • Trigyn Technologies on Tuesday announced that it has been awarded a contract to provide General, Professional and Information Technology Staff Augmentation Services for the New York City Housing Authority (NYCHA).
  • The contract is for a potential duration of (5) five years, October 1, 2021, through September 30, 2026 (Initial Term (3) three years with (2) two one-year options at NYCHA’s discretion).
  • The contract has a Maximum Fee of $50 Million and contains a provision at NYCHA’s discretion to increase the Maximum Fee to $125 Million. Read More

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