Live market updates

14th Oct, 2021

Jawaharlal Nehru Port Trust posts 40.40% yoy rise in container traffic in H1FY22

Published on: 5:04 pm

  • Jawaharlal Nehru Port Trust (JNPT), one of India’s premier container ports, handled 2,703,051 TEUs during the first half of this financial year, against 1,925,284 TEUs, which is 40.40% higher than the container traffic over the same period of last year. The rail coefficient in the first half of FY2021-22 was 18.04%.
  • The total container traffic handled in September 2021 stood at 452,108 TEUs, witnessing a growth of 18.86% over the same month of last year. NSIGT crossed the 1 lakh TEUs mark in a month by handling 1,00,814 TEUs in September-2021, the highest ever TEUs handled since its inception. Read more

Birlasoft features among the Top 15 Sourcing Standout by ISG

Published on: 5:00 pm

  • Birlasoft Ltd has announced it has been named a Top 15 Sourcing Standout by Information Services Group (ISG), a leading global technology research and advisory firm.
  • Birlasoft was among the leading providers in the Booming 15 category globally, as well as for the Americas region based on Annual Contract Value (ACV) won over the last 12 months, according to the 3Q 2021 Global ISG Index. This is the sixth consecutive time that Birlasoft has been featured across named categories by ISG. Read more

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Govt nods 31 firms investment proposals worth Rs3,345cr for PLI scheme in telecom and networking; Te

Published on: 4:58 pm

  • Devusinh Chauhan, Minister of State of Ministry of Communications, launched today the Production Linked Incentive (PLI) Scheme for Telecom and Networking Products. Chauhan said that PLI Scheme in the telecom sector has been launched to realize the Prime Minister’s vision of Atmanirbhar Bharat. It will help in reducing India’s dependence on other countries for the import of telecom and networking products.
  • He called upon the industry leaders to focus on making high-quality products and expressed the commitment to provide incentives and support to promote world-class manufacturing in the country. Read more

CCEA nods increased prices of Phosphatic and Potassic fertilizers, hikes DAP subsidy by Rs438 per ba

Published on: 4:49 pm

  • The Cabinet Committee on Economic Affairs (CCEA) has approved that the increased prices of Phosphatic and Potassic (P&K) fertilizers shall be rolled over for the whole year 2021-22 from October 1, 2021, to March 31, 2022.
  • The increased international prices of Diammonium phosphate (DAP) have been absorbed by the Union Government. The Union Government has decided to increase the subsidy by Rs. 438 per bag of DAP as a special one-time package so that farmers can get DAP at the same price. Read more

Sanjeev Bajaj to lead Escorts' construction equipment biz in India as Chief Executive

Published on: 4:43 pm

  • Escorts appointed Sanjeev Bajaj as Chief Executive of the Construction Equipment Business in India and lead the growth agenda for this business.
  • In a regulatory filing, Escorts said, "Sanjeev Bajaj, who has been with the Company for last 7 years and has prior experience in Construction Industry will be heading the Construction Equipment Business for India as Chief Executive Construction Equipment Business India and lead the growth agenda for this business." Read more

Uday Jewellery Industries ends 2% higher on launch of 'Kuwaity Collection'

Published on: 4:40 pm

  • Uday Jewellery Industries Ltd has informed that Company has launched an extension to its already ongoing exclusive jewellery collection, "Kuwaity Collection".
  • The Company has announced that it is making good progress towards the straiegic choices outlined earlier this year, specifically by introducing the development of the new product offering wide varieties in the category of Bangles, bracelets, chokers, Necklace- (Maharani, Short and Long).
  • *Kuwaity Collection" is an enchanting Arabian delights-inspired by the Middle-Eastern Asia culture, in glittering gold studded with colorful Ruby and Emerald gemstone and it makes the person feel royat and is unique in its own kind as it is lightweight and Production friendly, said company in a regulatory filing. Read more

TVS Motor rolls out 1 lakh unit of BMW Motorrad’s 310cc series; Stock ends 1% up

Published on: 4:36 pm

  • TVS Motor Company on Thursday announced the rollout of 100,000 units of BMW Motorrad’s 310cc series of motorcycles. The motorcycle was rolled out from the TVS Motor’s Hosur facility by KN Radhakrishnan, Director & CEO, TVS Motor Company and Rainer Baumel, Head of Products, 1-, 2-Cylinder and Urban Mobility, BMW Motorrad.
  • KN Radhakrishnan, Director & CEO, TVS Motor Company, said, “We are delighted to achieve a historic milestone in our journey with BMW Motorrad today. This achievement is a strong testimony to the success of our eight-year partnership, which has created a common learning platform for both companies. Our partnership has been truly exceptional for creating aspirational products made for the global market. We are proud to be a part of this journey and look forward to continuing the partnership with BMW Motorrad.” Read more

Infosys research: UK public demand more online govt services after lockdown experience, but humanisi

Published on: 4:31 pm

  • Infosys-led new research stated that the pandemic has significantly changed how UK residents engage with online public sector services. The research has revealed that online accessibility, convenient single sign-on and human-centricity will be key to the long-term success of public sector digital services.
  • The survey of 1,500 people living in the UK revealed that 8 in 10 people accessed government online services since the onset of the COVID-19 pandemic. Respondents highlighted their appreciation of how inclusive and convenient it is for government services, previously only available in person by visiting local council offices, to be available online and at any time. Yet, while more than a third (34%) of people in the UK used mainly digital services, they still had to use some in-person or phone services not yet available digitally. Read more

Brickwork upgrades credit ratings of Gravita India; Stock ends 3% higher

Published on: 4:15 pm

  • Brickwork Ratings Private Limited has upgraded the ratings of Gravita India Limited on a total of Rs295.23cr credit facilities. The rating on long-term fund-based Rs257.33cr has been upgraded from BWR A- to BWR A; Stable.
  • On long-term non-fund-based Rs10cr instrument, the rating has been upgraded from BWR A- to BWR A; Stable. The short-term rating on the non-fund-based Rs27.90cr instrument has been upgraded from BWR A2 to BWR A2+. Read more

Frontline Corporation suffers fire accident in one of the wind mill in Coimbatore

Published on: 4:00 pm

  • Frontline Corporation Ltd has informed to the exchanges that fire occurred on October 13, 2021 in one of their wind mill HTSC 232 Bonus make 320 Kwh situated at Gudimangalam, Coimbatore.
  • "Preliminary reason found for fire is failure of Hydraulic System; however team is working on to find the cause", said company in a regulatory filing.
  • Further, to the notice, "Fire Department had extinguished the fire and we are yet to establish the real cause of fire and the extent of damage as its hot in the nacelle which is above the ground level", it added. Read more

Sensex, Nifty close the week on record highs

Published on: 3:57 pm

  • Domestic markets resumed a fresh leg of the rally as the indices closed the week on record highs. The index Option gamma writers ran for a cover as the indices brokeout from its a trading band.
  • Bank Nifty index outperformed the Nifty index by ~1.5% as both the indices witnessed an addition of long positions, to close the week 4%/2.5% higher.
  • On the weekly charts, the Nifty has given an ascending triangle breakout, indicating a possibility of continued upward momentum. Banking stocks like HDFC Bank, SBI & ICICI Bank were among the top outperformers, contributing the majority of the index gains. Read more

Markets close near fresh highs; Sensex over 61,300, Nifty 50 near 18,340; Banking and financial stoc

Published on: 3:55 pm

  • Markets closed near their fresh historic highs on Thursday, a day for weekly F&O expiry. All indices were on a bullish tone with banking, financials, IT, Metal and consumer durables stock outperforming.
  • Broader positive Asian cues except for Hong Kong and Chinese shares, also added to the upside mood in domestic equities. The corporate earnings season for Q2FY22 continues to play a major role in the markets outlook.
  • Sensex closed at 61,305.95 up 568.90 points or 0.94%. Nifty 50 finished at 18,338.55 higher by 176.80 points or 0.97%. Read more

Arvind SmartSpaces allots over 68.54 lakh equity shares; Stock ends lower

Published on: 3:54 pm

  • Arvind SmartSpaces Limited has allotted 68,54,700 equity shares of the face value of Rs10/- to the Investor and Promoter Group Entities.
  • The Board of Directors of Arvind SmartSpaces Limited has approved today, the allotment of over 40.32 lakhs equity shares of the face value of Rs10/- each for cash at a price of Rs124.00 per equity share aggregating to ~Rs50cr to HDFC Capital Affordable Real Estate Fund - 1, a Category II Alternative Investment Fund (Investor) on Preferential basis.
  • The company approved 28,22,500 equity shares of the face value of Rs10/- each for cash at a price of Rs124.00/- per equity share, aggregating to ~Rs35cr to Aura Business Ventures LLP (16,00,000) and Aura Merchandise Private Limited (12,22,500) on a preferential basis. Read more

Bhansali Engineering in process to increase ABS capacity 200,000 TPA at Abu Road Plant

Published on: 3:44 pm

  • Bhansali Engineering said that it is in the process of obtaining Environmental Clearance for increasing the ABS capacity from 130,000 TPA to 200,000 TPA at Abu Road Plant (Rajasthan), which shall be received shortly.
  • The Environmental Clearance for 50,000 TPA HRG (for captive consumption to manufacture 200,000 TPA ABS) at Satnoor Plant and 130,000 TPA ABS Production at Abu Road Plant has already been received. Read more

Ind-Ra affirms Punjab National Bank at ‘AAA’/Stable; Rates Tier II Bonds

Published on: 3:32 pm

  • India Ratings (Ind-Ra) has assigned an 'IND AAA/Stable' rating to Rs2,000cr Tier 2 Bonds (under Basel III) of Punjab National Bank (PNB) while affirming its Long-Term Issuer Rating at 'IND AAA/ Stable'.
  • The credit rating agency also affirmed the company’s Short-Term Issuer Rating at 'IND A1+' and ratings on existing Basel III Tier 2 Bonds, & Senior Infrastructure Bonds at 'IND AAA/Stable' and Additional Tier 1 Bond at 'IND AA/Stable'.
  • Punjab National Bank trade ended at Rs42.40 per piece up by Rs0.95 or 2.29% from its previous closing of Rs41.45 per piece on the BSE. Read more

Indo National-led Kineco Group and Exel Composites sign JV in Goa-India

Published on: 3:32 pm

  • Indo National Ltd's material subsidiary Kineco Group, India’s leading player in the Advanced Composites market has announced today that it has signed an agreement to establish a joint venture to develop the Indian pultrusion market together with Exel Composites Oyj, a Nasdaq Helsinki listed, globally recognized composites company.
  • Established in 1995 and headquartered in Goa, Kineco Group offers a range of products and integrated systems for diverse markets such as mass transit, aerospace, defense, infrastructure and other industries.
  • In the transaction, Kineco Group will sell the assets of its pultrusion business into a new company, Kineco Exel Composites India, in which Exel Composites will subscribe to a 55% ownership in a directed share issue. Kineco Group will remain a shareholder with a 45% shareholding through its main entity Kineco Limited. Read more

Ultratech Cement commissions cement capacity of 1.2 mtpa in Oct 2021; Stock surges

Published on: 3:28 pm

  • Ultratech Cement commissions cement capacity of 1.2 mtpa in October 2021 which is the first phase of the 19.5 mtpa capacity expansion announced in December last year.
  • In a regulatory filing, Ultratech said that this additional capacity will help the Company to service the fast-growing cement demand in the Eastern markets and will also help in increasing its blended cement ratio.
  • From the latest capacity, the company commissioned an additional cement capacity of 0.6 mtpa in Bihar-based Patliputra Cement Works, taking the Unit’s capacity to 2.5 mtpa. Also, the company commissioned an additional cement capacity of 0.6 mtpa in West Bengal-based Dankuni Cement Works, taking the Unit’s capacity to 2.2 mtpa. Read more

GTPL Hathway’s consolidated revenue rises 12% yoy to Rs1,215.9cr during H1FY22

Published on: 3:15 pm

  • GTPL Hathway Limited (GTPL), India’s leading Digital Cable TV and Broadband Service provider, today announced the financial results for the second quarter and half year ended on September 30, 2021, as approved by its Board of Directors.
  • The company’s consolidated Q2FY22 revenue (incl. EPC) stood at Rs605.2cr; up 4% yoy; Consolidated H1FY22 revenue (incl. EPC) at Rs1,215.9cr; up 12% yoy. Q2FY22 ISP Revenue reported at Rs100.6cr; up by 50% yoy; H1FY22 at Rs192.4cr; up by 61% yoy.
  • The company said in a filing that Q2 FY22 EBITDA (incl. EPC) Rs144.8cr; up 4% yoy; Q2FY22 EBITDA (ex-EPC) Rs144.3cr; up 8% yoy; Q2FY22 PAT at Rs43.3cr. H1FY22 EBITDA (incl. EPC) at Rs282.8cr; up 6% yoy; H1FY22 EBITDA (ex-EPC) Rs280.5cr million; up 8% yoy; H1FY22 PAT at Rs90.8cr; up 5% yoy. Read more

Olectra Greentech supplies new electric buses to EVEY; Stocks sheds over 1.5%

Published on: 3:13 pm

  • Olectra Greentech Ltd has informed in a regulatory that the Company has supplied its new Electric Buses ‘C9- Inter-City Buses’ to Evey Trans Private Limited (EVEY) and same were launched on October 13, 2021 for commercial Inter-City E-Bus Operations between Pune and Mumbai.
  • At around 3:11 PM, Olectra Greentech was trading at Rs570 per piece lower by 1.61% on the BSE. Read more

RIL on Zee-Invesco feud: Made broad proposal for merger with Zee at fair valuations

Published on: 3:07 pm

  • Reliance Industries (RIL) who also has a significant mark in the media industry, has clarified about merger talks with Zee Group. The clarification comes after when Zee Entertainment and its largest shareholder, Invesco are in a corporate feud.
  • In early Wednesday, Invesco stated that the company had initiated talks for a merger between RIL and Zee Group. The merger talks broadly took place in February this year. However, the proposal did not proceed further due to disagreement between Zee promoters and Invesco.
  • RIL on Wednesday itself clarified that the company made a broad proposal to merge its media business with Zee at a fair valuation. Read more

Acuite reaffirms ratings of Goa Carbon's credit facilities; Stock tumbles

Published on: 2:31 pm

  • Acuité has reaffirmed the long term rating of ‘ACUITE BBB- ’ and the short term rating of ‘ACUITE A3+’ to the Rs273cr bank facilities of Goa Carbon Limited (GCL). The outlook is ‘Stable’.
  • The rating reaffirmation considers the comfort drawn from GCL’s established presence in the CPC segment and relations with reputed customers and suppliers, extensive experience of the promoters.
  • Moreover, the rating also factors in the improvement in the operating margins as compared to the losses incurred by the company earlier. The EBITDA margin stood at 1.78 per cent in FY2021 as against (3.52) per cent in FY2020. Read more

Nifty IT climbs over 1,125 pts as investors take comfort from upbeat Q2 results; Mindtree, Wipro led

Published on: 2:30 pm

  • More than 3% rise was recorded in Nifty IT in a day. The index opened at 35,921.45 on Thursday, picking up the pace to even touch an intraday high of 36,412.45 resulting in an overall upside of at least 1,127 points so far in the day. This week was a roller coaster ride for the sector as major companies announced their September 2021 (Q2FY22) earnings.
  • The Nifty IT index that was bearish at the start of this week, has now rebounded and trading to a bullish tone. Today, the index skyrocketed as investors took comfort from the better-than-expected earnings of heavyweights like Infosys, Wipro and Mindtree.
  • HCL Tech is in focus ahead of its Q2 results scheduled for later in the day. Read more

Market pulse at 2:30 PM today

Published on: 2:30 pm

  • Indices regain momentum after a brief lull to hit new highs. Banking and Financial Services stocks rally.
  • BSE Sensex is at 61,201.70 up 464.65 points or 0.77%.
  • Nifty50 is at 18,311.55 up 149.80 points or 0.82%. Nifty Bank is 39,277.50 up 1.66%. Mid-cap Index is up 0.84%. Read more

Nifty Metal zoom 2% mirroring upbeat markets; Hindustan Copper, Hindustan Zinc, Adani Enterprises, V

Published on: 2:12 pm

  • Nifty Metal Index continued the bull run mirroring the upbeat markets on Thursday. Hindustan Copper and Hindustan Zinc surged over 5% each while Adani Enterprises, Jindal Steel, and Vedanta also lifted the performance. Metal stocks are in focus amid rising base metal prices.
  • The global energy crisis that has led to power shortages and factory slowdowns did not stop copper prices from rallying to their highest levels since the beginning of August.
  • Coal India remained under pressure amid the coal crisis. Read more

WPI Inflation eases to 10.66% in September 2021 as food prices dip

Published on: 1:58 pm

  • India's wholesale price index (WPI) inflation eased further to 10.66% (provisional) in September 2021 on the back of lower food prices. WPI was at 11.39% and 11.57% in August and July this year.
  • WPI and CPI are in line as both the indicators have eased in September 2021.
  • WPI stood at 1.32% in September last year. The Ministry of Commerce & Industry said that the high rate of inflation in September 2021 is primarily due to the rise in prices of mineral oils, basic metals, non-food articles, food products, crude petroleum & natural gas, chemicals and chemical products etc. as compared the corresponding month of the previous year. Read more

TCS launches enhanced TCS BaNCS Marketplace to enable Financial Services Companies accelerate innova

Published on: 1:50 pm

  • Tata Consultancy Services (TCS), announced the launch of the enhanced TCS BaNCS Marketplace, an innovation hub for customers to collaborate and adopt cutting-edge partner solutions compatible with the TCS BaNCS suite, spanning banking, capital markets, and insurance domains.
  • Financial institutions are increasingly partnering with TCS to accelerate their innovation and to leverage a larger co-innovation ecosystem curated by TCS. The TCS BaNCS Marketplace offers them a rich ecosystem of solutions and APIs from fintech, insurtechs, risk tech, regtechs and other innovators. Read more

Q2FY22: TCS vs Infosys vs Wipro - Robust growth in top-line led by rise across verticals

Published on: 1:46 pm

Major IT companies like TCS, Infosys and Wipro have announced their financial performance for the quarter ending September 2021(Q2FY22). TCS missed street's estimates, while peers Infosys and Wipro surpassed it. Although, double-digit growth was witnessed in both bottom-line and top-line front for these companies driven by broad-based upside across verticals.

TCS:
  • The company posted revenue of Rs46,867cr in Q2FY22 rising by 16.8% yoy. Its constant-currency revenue growth was over 15.5%. Meanwhile, TCS posted a net income of Rs9,624cr during the quarter under review increasing 14.1% yoy. The net margin stood at 20.5%. Read more

Century Textiles & Industries hits record high after sales jump 67% yoy in Q2

Published on: 1:46 pm

Century Textiles & Industries Ltd has released its financial results for the quater ended September 30, 2021.

Key Highlights:
  • Sales witnessed a considerable jump at 67% yoy to Rs998cr in Q2.
  • EBITDA was up by 102% yoy to Rs133cr in Q2 as compared to the same quarter last year. Read more

Market pulse at 1:30 PM today

Published on: 1:30 pm

  • BSE Sensex is at 61,013.50 up 276.45 points or 0.46%.
  • Nifty50 is at 18,265.65 up 103.90 points or 0.57%. Nifty Bank is 38,825.00 up 0.49%. Mid-cap Index is up 0.97%.
  • Wipro, Adani Ports, Grasim, IOC, and Larsen & Turbo are the top gainers. Coal India, Eicher Motors, IndusInd Bank, Bajaj Finance, and Tata Motors are the top losers. Read more

Mindtree stock hits new high after logging double-digit growth in Q2 PAT and revenue

Published on: 1:23 pm

  • Mindtree stock hit a new all-time high after the company posted a whopping 57.2% yoy rise in consolidated net profit to Rs398.9cr for the quarter ending September 2021 (Q2FY22). On a sequential basis, PAT jumped by 16.2%.
  • The company's revenue stood at Rs2,586.2cr in the quarter under review, rising by 34.3% yoy and 12.9% qoq.
  • “We are pleased to report yet another outstanding quarter of all-round performance,” said Debashis Chatterjee, Chief Executive Officer and Managing Director, Mindtree. Read more

Ramkrishna Forgings' Jamshedpur fabrication plant gets approval from European OEM

Published on: 1:15 pm

  • Ramkrishna Forgings Limited,one of the leading suppliers of rolled, forged and machined products has a commenced the serial production of heavy fabrications for the excavator parts at its plant VII. This plant is Fabrication facility which has been approved by one of the leading OEMs in the Mining & Earth Moving Industry based out of Europe.
  • Commenting on the approval Lalit Khetan, Executive Director & CFO, Ramkrishna Forgings Limited said, “The approval of fabrication facility atJamshedpuris a step in right directionaswemove to strengthen our presence in non-auto sectors. This approval will provide significant impetus to capacity utilization of this new plant and will add to revenues in coming years. Read more

FMCG stocks advance as import duty on crude edible oil gets scrapped; ITC hits new high to lead the

Published on: 12:50 pm

  • Nifty FMCG Index rose 1% mirroring bullish markets on Thursday. ITC Limited led the gains for the third consecutive day, hitting a new peak of Rs261.85 per piece in the early deals. Emami was also in the fast lane. Radico Khaitan was the laggard for the second consecutive day.
  • The central board of indirect taxes and customs has scrapped import duties on crude varieties of palm oil, soyabean oil, and sunflower oil until March 31, 2022, which lifted investor spirits. However, duties on refined soya oil and refined sunflower oil still remain in place. The positive global cues, quarterly earnings, festive season also played on investors' minds.
  • Domestic equity market BSE Sensex and Nifty 50 were trading at fresh record high levels on Thursday, a day of weekly F&O expiry. Nifty crossed 18300 for first time, Sensex topped 61,200. Read more

Markets make new history; Sensex tops 61,200, Nifty 50 climbs over 18,300 first time; IT outperforms

Published on: 12:41 pm

  • The bulls only soared with wings that took Indian markets to cruise at levels never witnessed before. Both benchmarks Sensex and Nifty 50 have crossed 61,200 and 18,300 levels for the first time in history.
  • Buying across the broader indices led to the outperformance in domestic equities,  offsetting the mixed mood of the global markets with Wall Street closing on flats and Asian stocks trading higher except for Hang Seng that dipped more than 1.4% and mainland China which was marginally down but in red. Read More

Ind Ra affirms Subex at 'A-' with Positive outlook; Stock gains over 2.5%

Published on: 12:32 pm

  • India Ratings and Research (Ind-Ra) has affirmed Subex Limited’s Long-Term Issuer Rating at ‘IND A-’ with a Positive Outlook and simultaneously withdrawn it.
  • To arrive at the rating, Ind-Ra continues to take a consolidated view of Subex, its foreign subsidiaries and Indian subsidiaries collectively known as the Subex Group, due to the operational and strategic linkages among them. 
  • The Positive Outlook reflects Ind-Ra’s expectation of a sustained improvement in the group’s revenue and operating EBITDA, while maintaining the credit metrics. The rating remains supported by Subex ’s strong credit profile characterised by strong cash and equivalents and zero external debt. Read More

Market pulse at 12:30 PM today

Published on: 12:30 pm

  • Benchmark market indices stay firm after scaling new highs. IT stocks surge nearly 3%.
  • BSE Sensex is at 61,101.31 up 364.26 points or 0.60%.
  • Nifty50 is at 18,300.90 up 139.15 points or 0.77%. Nifty Bank is 38,852.65 up 0.56%. Mid-cap Index is up 1.55%.
  • Wipro, Adani Ports, Grasim, Tech Mahindra, and ITC are the top gainers. Coal India, Eicher Motors, IndusInd Bank, Bajaj Finance, and Tata Motors are the top losers.
  • Nifty IT stocks surge nearly 3% while Metal, PSU Bank, FMCG, and Realty stocks are also bullish. Nifty Auto and Media stocks remain under pressure.
  • Out of 50 stocks traded on the BSE, 34 advanced, 15 declined and 1 unchanged. Read More

Wipro stock hits 10% upper circuit after Q2 earnings beat expectations, expects sequential growth of

Published on: 12:17 pm

  • Azim Premji's Wipro reported an 18.9% rise in consolidated net profit to Rs2,930.7cr for the quarter ending September 2021 (Q2FY22). On a sequential basis, Wipro's PAT dipped 9.6%. Overall, the company posted better-than-expected earnings.
  • Wipro's consolidated revenue was at Rs19,667.4cr for the quarter under review, also beating the street's expectations. The revenue grew by 30.1% yoy and 7.8% qoq in Q2FY22.
  • In Q2FY22, the company's IT Services Segment Revenue was at $2,580 million, an increase of 6.9% QoQ and 29.5% YoY. Meanwhile, Non-GAAP2 constant currency IT Services Segment Revenue increased by 8.1% QoQ and 28.8% YoY. Read More

Ishan Dyes & Chemicals hits 52-week high on update of new production of Cuprous Chloride

Published on: 12:15 pm

  • Ishan Dyes & chemicals Ltd has informed that the management has embarked on the backwards and forward integration at the Company's existing plant located at Plot No - 18, Phase I, GIDC Estate, Valva, Ahmedabad, Gujarat.
  • The Company has started production of Cuprous Chloride which is a major raw material used in manufacturing of the CPC Blue which is one of the key product of the Company. Read more

Apollo Pipes board to consider bonus issue on October 22; Stock hits record high

Published on: 12:14 pm

  • Apollo Pipes Limited informed the exchanges Thursday that a meeting of the Board of Directors of the Company is scheduled to be held on October 22, 2021, to consider a proposal for the issue of Bonus Shares on the Equity Shares of the Company.
  • The company stock was in demand on Thursday and at around 12.20 pm, Apollo Pipes Ltd was trading at Rs1,949.75 per piece up by Rs30.45 or 1.59% from its previous closing of Rs1,919.30 per piece on the BSE.
  • The scrip opened at Rs1,903 and has touched a fresh 52-week high of Rs1,989.80 per piece on Thursday. Read More

CARE Ratings withdraws ratings on bank facilities of BGR Energy Systems

Published on: 12:05 pm

  • BGR Energy Systems Limited informed the exchanges Wednesday that CARE Ratings Limited has withdrawn the ratings assigned to bank facilities of the Company. All the banks of the company have issued a 'No Objection Certificate' to withdraw the same. 
  • The company stock was under pressure on Thursday and at around 12.06 pm, BGR Energy Systems Ltd was trading at Rs69.40 per piece down by Rs0.85 or 1.21% from its previous closing of Rs70.25 per piece on the BSE.
  • The scrip opened at Rs70.05 and has touched a high and low of Rs70.75 and Rs68.75 respectively. Read more

Infosys adds 11,664 new employees in Q2 on a sequential basis, preps to embrace hybrid work model

Published on: 11:54 am

  • Infosys has made the addition of 11,664 employees in the quarter ending September 2021 (Q2FY22) on a sequential basis.
  • The company's total headcount stands at 2,79,617 employees in Q2FY22 versus 2,67,953 employees in Q1FY22 and 2,40,208 employees in Q2FY21.
  • Infosys voluntary attrition (LTM - IT Services) rate was at 20.1% in Q2FY22 versus 13.9% in Q1FY22 and 12.8% in Q2FY21. Read More

Aarti Drugs appoints Ankit Paleja as Additional Director; Stock trades flat

Published on: 11:50 am

  • Aarti Drugs Limited informed the exchanges that based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors at its meeting held on Wednesday appointed Ankit Vikram Paleja as an Additional Director in the category of an Independent Director of the Company with effect from October 13, 2021, for the period of three years subject to the approval of the Shareholders of the Company.
  • Briefing about his profile, the company said Ankit Vikram Paleja is a qualified lawyer. He holds a double degree of Bachelors in Legal Science and Bachelors of Law. With around fifteen years of work experience, he presently is Partner in the law firm Crawford Bayley & Co. (advocates & solicitors). Read more

Prime Securities to issue 45.50 lakh equity shares on preferential basis; Stock hits 5% upper circui

Published on: 11:49 am

  • Prime Securities Ltd has informed that the Board of Directors on October 13,2021, has considered and approved the issue of up to 45,50,000 Equity Shares of face value of Rs. 5/- each ("Equity Shares") of the Company, on a Preferential Basis, at a price of Rs. 88.75 per Equity Share, aggregating Rs40,38,12,500/-.
  • The Board of Directors has approved issue of equity shares to the following investors: Read more

Ind-Ra revises CCL Products outlook to Positive from Stable

Published on: 11:44 am

  • CCL Products (India) Limited has received a Credit Rating Report from India Ratings & Research (Ind-Ra). The credit rating agency revised CCL Products India Limited’s (CCL) Outlook to Positive from Stable while affirming its Long-Term Issuer Rating at ‘IND AA-’ in September 2021.
  • “Ind-Ra continues to take a consolidated view of CCL and its wholly-owned subsidiaries Jayanti Pte Ltd (Singapore), Ngon Coffee Company Ltd (Vietnam), Continental Coffee SA (Switzerland), Continental Coffee Private Limited (India; IND A-’/Positive), and CCL Beverages Private Limited (India; under the process of merger with the parent) to arrive at the ratings, on account of the strong operational synergies among them, given the similar nature of businesses, and common promoters and senior management,” company shared Ind-Ra’s rating rationale. Read more

Infosys logs better-than-expected in Q2, raises FY22 revenue guidance to 16.5-17.5%; Stock jumps 4%

Published on: 11:32 am

  • IT-major, Infosys posted a better-than-expected September 2021 (Q2FY22) quarter, where its bottom-line and top-line front both recorded a double-digit growth on a year-on-year basis. Infosys garnered a net profit of Rs5,421cr in Q2FY22 rising by 11.9% from Rs4,845cr a year ago same period. Infosys PAT grew by 4.4% sequentially.
  • Infosys registered revenue of Rs29,602cr in the quarter under review, increasing by 20.5% from Rs24,570cr witnessed in the corresponding period of the previous year. Revenue in Q2FY22 was up 6.1% from Rs27,896cr of the preceding quarter. Read More

CARE reaffirms ratings on Vinati Organics' bank facilities; Stock jumps 2.5%

Published on: 11:31 am

  • Vinati Organics Ltd inform you that the CARE has reaffirmed the ratings to the bank facilities of the Company.
  • Long-term/Short-term Bank Facilities has been reaffirmed to CARE AA; Stable / CARE A1+ worth Rs75cr.
  • Short-term Bank Facilities has been reaffirmed to CARE A1+ of Rs10cr.
  • As per rationale report, the ratings assigned to the bank facilities of Vinati Organics Limited (VOL) factor in its market leadership in its two key products, viz, in 2- Acrylamido 2 Methylpropane Sulfonic Acid (ATBS) and Isobutyl Benzene (IBB) in the global market. Read more

Market pulse at 11:30 AM today

Published on: 11:30 am

  • Indices led by IT and Metal stocks continue to hit new highs. 
  • BSE Sensex is at 61,197.42 up 460.37 points or 0.76%.
  • Nifty50 is at 18,311.90 up 150.15 points or 0.83%. Nifty Bank is 38,814.30 up 0.46%. Mid-cap Index is up 1.41%.
  • Wipro, Adani Ports, Grasim, ITC, and Tech Mahindra are the top gainers. Coal India, Tata Motors, IndusInd Bank, Eicher Motors, and Bajaj Finance are the top losers.
  • Nifty IT, Metal, and Realty stocks drive trade on Thursday while FMCG stocks are also bullish. Nifty Auto and Media stocks remain under pressure.
  • Out of 50 stocks traded on the BSE, 38 advanced and 12 declined. Read more

DB Realty hits upper circuit despite IT raids at its premises

Published on: 11:14 am

  • DB Realty Limited informed the exchanges that Income Tax authorities carried out search and seizure operations at the premises of the company and key managerial personnel from October 7, 2021, up to October 12.
  • “The company will update the stack exchanges in case of any material development in this regard,” the company said in a filing on Wednesday. Read More

Hero MotoCorp introduces new range of retail finance schemes to cheer festive season

Published on: 11:08 am

  • Two-wheeler giant, Hero MotoCorp has introduced a range of new and exciting retail finance schemes for customers. Adding cheer to the ongoing festive season, the company is making numerous finance offers available to customers through a wide range of partners.
  • The innovative financial products such as No-Hypothecation, No cost EMIs, and Cash EMI (loan without a bank account), ensure that customers can bring home their preferred Hero MotoCorp product hassle-free. Along with Hero FinCorp, it has also introduced segment-first schemes such as Kisan EMI and Balloon EMI. These schemes provide tailor-made solutions for farm-income-based customers as well as customers with seasonal incomes. Read More

Coal supply to thermal plants recorded more than 2 million tonnes: Centre

Published on: 11:05 am

  • Union Minister of Coal, Mines and Parliamentary Affairs Pralhad Joshi on Wednesday has expressed happiness over the increase in supply of coal to thermal power plant from all sources.
  • In a tweet, the Minister has said that cumulative coal supplies including that from Coal India Ltd has recorded more than 2 million tonnes yesterday.
  • Minister Joshi has also stated that coal dispatch to power plants will be further increased to ensure sufficient stock with power plants. Read More

Acuite reaffirms credit rating of Central Bank of India

Published on: 11:00 am

  • Acuite Ratings & Research Limited has reaffirmed its rating on proposed long-term debt instruments of the Central Bank of India as ACUITE AA-/Stable.
  • At around 11.02 am, Central Bank of India was trading at Rs23.45 per piece up by Rs0.15 or 0.64% from its previous closing of Rs23.30 per piece on the BSE.
  • The scrip opened at Rs23.60 and has touched a high and low of Rs23.70 and Rs23.35 respectively. Read More

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