Live market updates

19th Oct, 2021

Happiest Minds included in Now Tech: Robotic Process Automation Services analyst report

Published on: 5:00 pm

  • Happiest Minds Technologies Limited has announced being included in the Forrester Now Tech: Robotic Process Automation Services, Q4 2021 published on Forrester.com.
  • Rajiv Shah, Executive Board Member & CEO, Digital Business Services, Happiest Minds said, “Happiest Minds aims at bridging the gap between Digital and Physical world and automation plays a significant role in doing so. It is important for any organization undertaking digital transformation to clearly define and communicate where they are going and why. Read more

IEX board to mull bonus issue on October 21; stock jumps 6%

Published on: 4:54 pm

  • Indian Energy Exchange (IEX) said that its board will meet on Thursday, 21 October 2021, to consider a proposal for the declaration of bonus issue of equity shares of the company.
  • With reference to the letter dated October 14, 2021, Indian Energy Exchange Ltd has now informed BSE that the Board of Directors of the Company in their meeting scheduled on October 21, 2021, shall inter-alia, also consider the proposal for declaration of Bonus Issue of Equity Shares subject to the approval of the shareholders of the Company. Read more

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Network18 Media & Investments revenue grows 31% yoy to Rs1,387cr in Q2FY22 driven by viewership

Published on: 4:25 pm

  • Network18 Media & Investments Limited today announced its results for the quarter ended September 30, 2021.
  • The company reported strong revenue growth driven by viewership at Rs1,387cr in Q2FY22 compared to Rs1,061cr in Q2FY21, rising 31% yoy. The highest ever Q2 revenue (ex-film), grew 29% yoy (and 21% vs Q2FY20). Consolidated EBITDA for the quarter grew 53% yoy to Rs253cr in Q2FY22 compared to Rs166cr in Q2FY21 (~3.3x of Q2FY20), operating margin at 18.2%. Both News and Entertainment businesses further improved profitability.
  • Profit After Tax (PAT) rose to Rs ~200cr (~3x of Q2FY21), driven by improved revenue performance, controlled opex and lower finance costs. Entertainment margin at ~19%; ex-film revenue up 31% yoy (up 20% vs Q2FY20). News margin at ~18%; revenue up 18% yoy (15% vs Q2FY20).  Digital News continues to grow revenue and improve margins; revenue rose 55% YoY and margins at ~17% yoy. Read more

Lagnam Spintex PAT increases by 438% yoy in Q2FY22

Published on: 4:18 pm

  • Lagnam Spintex Limited, leading manufacturers of High-Quality Cotton Yarns has announced another quarter of outstanding financial performance in its board meeting held on October 16, 2021.
  • The Company reported sales turnover of Rs81.34cr for the quarter ending on September 30, 2021 as against Sales Turnover of Rs49.95cr during the quarter ending on Sept 30 of FY21, leading to jump of 63%. Company PAT zoomed in to Rs.6.14 Cr for the quarter ending 30th Sept, 2021 as against PAT of Rs1.13cr for corresponding last year quarter leading to growth by staggering 438%. Read more

Tata Coffee consolidated net profit rises 46.72% in Q2FY22 numbers; stock hits 52-week high

Published on: 4:07 pm

  • Tata Coffee recorded a consolidated net profit jumped 46.72% to Rs34.04cr in the quarter ended September 2021 as against Rs23.20cr during the previous quarter ended September 2020.
  • The sales of the company rose 0.94% to Rs548.52cr in the quarter ended September 2021 as against Rs543.43cr during the previous quarter ended September 2020.
  • The stock ended at Rs235.60 up by Rs1.4 or 0.6% from its previous closing of Rs234.20 on the BSE. The scrip opened at Rs240.20 and touched a high and low of Rs254 and Rs230.25 respectively. Read more

HUL registers robust broad-based performance in a challenging environment in Q2

Published on: 3:54 pm

  • Hindustan Unilever Limited announced its standalone results for the quarter ended September 30, 2021. HUL delivered a strong performance in this quarter with Domestic Consumer Growth of 11% and Profit After Tax (PAT) growth of 9%.
  • The company reported a net profit of Rs2,187cr for the September quarter, an increase of 9% from Rs2,009cr reported in the same quarter last year. On a sequential basis, the profit after tax (PAT) grew 6% from Rs2,061cr in the June quarter.
  • The FMCG major’s revenue from operations rose 11% to Rs12,516cr as against Rs11,276cr in the year-ago period. Read more

Add-Shop E-Retail hits 5% upper circuit on 271% yoy growth in Q2 PAT

Published on: 3:49 pm

Add-Shop E-Retail Limited, one of the country's first companies to promote organic farming and produce organic farm goods has released results for Q2FY22.

Financial Performance:
Q2FY22 recorded the greatest-ever quarterly performance to date in terms of Revenue from Operations and Profit after Tax. Revenue from Operations stood at Rs38.9cr in Q2FY22, up 153% yoy and 25% qoq. Subsequently, Profit before Tax stood at Rs5.6cr in Q2FY22, an increase of 236% yoy and 27% qoq. Read more

Markets closed on a flat note, FMCG Stocks underperformed

Published on: 3:36 pm

  • Markets witnessed a volatile day of trade as across the board profit booking was seen during the closing part of the trade.
  • Both Nifty and Bank Nifty gave up its opening gains during the second half, to close in the red. 
  • FMCG stocks were among the top underperformers with stocks like ITC & HUL adding heavy short positions during the day. Read more

Hatsun Agro Product net profit up 24.79% in Q2FY22; stock ends lower

Published on: 3:36 pm

  • Hatsun Agro Product Ltd, India’s leading private sector dairy company announces its financial results for the quarter and six months ended September 30, 2021. PAT in Q2FY22 was Rs82.09cr as against Rs65.79cr in Q2FY21 registered a growth of 24.79%. Sales registered in Q2FY22 was Rs1635.41cr as against Rs1326.99cr in Q2FY21 registered a growth of 23.24%.
  • The stock ended at Rs1,446 down by Rs31.95 or 2.16% from its previous closing of Rs1,477.95 on the BSE.
  • Sales registered in H1FY22 was Rs3180.12cr as against Rs2606.27cr in H1FY21 registered a growth of 22.02%. PAT in H1FY22 was Rs140.42cr as against Rs121.89cr in H1FY21 registered a growth of 15.20%. Read more

Edelweiss to divest its Insurance Broking business

Published on: 3:28 pm

  • Edelweiss Group has announced the divestment of its majority stake in Edelweiss Gallagher Insurance Brokers Ltd (EGIBL), post-approval from the Insurance Regulatory and Development Authority of India (IRDAI). The business will transition to the Gallagher brand in the coming months.
  • The Group will focus on growing its life and non-life insurance businesses, which have been among the fastest-growing in the industry.
  • Rashesh Shah, Chairman, Edelweiss Group said “At Edelweiss, we have always been driven by long-term value creation, seeding, nurturing businesses, forging partnerships at the opportune time to build scale. We have enjoyed an excellent relationship with the Gallagher team and we believe that they will add lot more value to the business and give it a global edge.” Read more

Trident stock hits new high after crossing 1M shareholders in numbers

Published on: 3:23 pm

  • Trident Group announced that the company has once again raised the bar as it crosses One Million Shareholders in numbers.
  • On the occasion, Chairman Padma  Rajinder Gupta said, “We are grateful to our family of One Million Shareholders for their belief and constant support. We hope to not only meet but also surpass the expectations of our valued Shareholders. Our aim is to keep creating value for everyone associated with us.” Read more

SVP Global Ventures stock jumps over 2% after Q2 results

Published on: 3:18 pm

  • SVP Global Ventures has reported a net profit of Rs40.85 crore for the Q2FY22 ended September 2021, as against a net profit of Rs10.75 crore in Q2FY21, growth of 280%. EBITDA for Q2FY22 was reported at Rs.93.06 crore (EBITDA Margin 23.18%) as compared to EBITDA of Rs57.63 crore (EBITDA Margin 15.83%) in Q2FY21 a growth of 61.%. Income from Operations for the Q2FY22 was reported at Rs405.74 crore, growth of 9% over previous fiscal's same period income from operations of Rs372.28 crore. EPS for Q2FY22 was reported at Rs3.23 per share.
  • Maj Gen OP Gulia, SM, VSM (retd), CEO, SVP Global Ventures Ltd said, "Company’s performance during the quarter has been quite remarkable across all segments on the back of improving volumes, strong order book and innovative products. Expansion at Oman is completed and has started to contribute to the financial performance of the Group. Read more

Aurionpro signs agreement to increase stake in SC Soft to 80%; Stock slips 4%

Published on: 3:12 pm

  • Aurionpro Solutions Limited on Tuesday announced the signing of an agreement for the acquisition of a further stake in its subsidiary SC Soft Pte Ltd. (“SC Soft”). The transaction involves the acquisition of a further 29% stake in SC Soft from the existing shareholders, in various tranches up to December 31, 2022. This acquisition is pursuant to the right available to the Aurionpro under the Subscription and Shareholders’ Agreement signed for the acquisition of a 51% stake in 2018.
  • The acquisition of a 51% stake in SC Soft and resultant integration has established Aurionpro as an end-to-end supplier in the Automatic Fare Collection (AFC) segment and further acquisition of stake in SC Soft will strengthen this position with increased synergies and capabilities. Read more

Jubilant Ingrevia plunges over 13% despite strong financial performance in Q2FY22

Published on: 3:11 pm

The Board of Jubilant Ingrevia Limited has today approved financial results for the quarter & Half Year ended September 30, 2021.

Key Highlights:
  • Revenue grew by 56% to Rs1,223cr on yoy basis, driven by robust growth in volume and prices.
  • Speciality Chemicals revenue grew by 17% YoY driven by volume growth across product segments. Read more

LTI's constant currency revenues grow 8.9% sequentially; PAT up by 20.8% yoy; stock rallies 16%

Published on: 2:50 pm

Larsen & Toubro Infotech (LTI), a global technology consulting and digital solutions company, announced its Q2 FY22 results.

In US Dollars:
  • Revenue at USD 509.0 million; growth of 8.3% QoQ and 25.8% YoY
  • Constant Currency Revenue growth of 8.9% QoQ and 25.5% YoY Read more

Route Mobile slips over 2.5% despite 28.3% yoy increase in Q2 PAT at Rs42.2cr

Published on: 2:43 pm

  • Route Mobile Ltd reported consolidated Profit after tax (PAT) for the Sep-21 quarter was up 28.29% at Rs42.17cr. The spike in profits was largely led by a 4-fold jump in India EBIT, a 6-fold jump in Dubai EBIT and a 50% jump in Nigeria EBIT. The larger contributor to EBIT, the UK vertical, saw EBIT grow by 5% you.
  • The company recorded a 24.73% growth in total revenues for the Sep-21 quarter on a consolidated basis at Rs435.67cr. The revenues were higher by 15.40% on a sequential basis compared to Rs377.52cr revenues in the Jun-21 quarter. Read more

Brahmaputra Infrastructure bags LOA order for Rs101.51cr; Stock trades flat

Published on: 2:35 pm

  • Brahmaputra Infrastructure Limited have received a LOA from the office of General Manager, NFR- CONST HQ- Engineering Maligaon, Guwahati, 781011 for the execution of the Contract for Protection of cutting and embankment by construction of RCC retaining wall, catch water drain, sub-surface drain, shot creting/providing concrete canvas, geo-jute textile turfing on slopes, finishing of blanketing materials etc. in between station Kawnpui & Sairang (30.00 km to 49.200 km) in connection with the construction of new BG Railway line from Bairabi to Sairang (Mizoram) Project for a total amount Rs101.51cr.
  • At around 2:33 PM, Brahmaputra Infrastructure was trading flat at Rs35.25 apiece on the BSE. Read more

Nifty IT skyrockets 1,055 pts; L&T twins, Mphasis, Tech Mahindra, Infosys hit new 52-week highs

Published on: 2:35 pm

  • IT company stocks witnessed a super rally on Tuesday as investors made value-buying in heavyweights after their September 2021 (Q2FY22) earnings. L&T Infotech is the latest to announce its Q2 financial performance. While tech giants like TCS, HCL Tech, Infosys, and Wipro have already recorded healthy growth in the quarter under review. All stocks listed on Nifty IT was in the fast lane with some even touching new 52-week highs.
  • Nifty IT floated between an intraday high and low of 37,491.85 and 36,720 respectively. At around 2.32 pm, the index was trading at 37,361.10 up 1,054.75 points or 2.91%.
  • Stock that has touched new 52-week highs are - LTI (Rs7,063.35 per piece), LTTS (Rs5,548.70 per piece), Mphasis (Rs3,659.75 per piece), Tech Mahindra (Rs1,569.80 per piece), and Infosys (Rs1,834.50 per piece). Read more

Market pulse at 2:30 PM today

Published on: 2:30 pm

  • Indices pare morning gains with auto and banking stocks facing the afternoon heat; Bullish IT stocks keep markets higher.
  • BSE Sensex is currently 62,010.48 up 244.89 points or 0.40%.
  • Nifty50 is currently 18,512.20 up 35.15 points or 0.19%. Nifty Bank is 39,707.90 up 0.06%. Mid-cap Index is down 0.38%. Read more

Nifty Consumer Durables dip 225 pts ahead of major earnings; TTK Prestige hits new high; Titan, Whir

Published on: 2:19 pm

  • Consumer durable stocks corrected from their past week's highs as heavyweight stocks witnessed sharp profit booking. Corporate earnings and the festive season continues to sway markets outlook in this sector. The Nifty Consumer Durables index has floated between an intraday high and low of 30,873.65 and 29,937.10 respectively. The sector was under pressure despite benchmarks Sensex and Nifty 50 cruising to new highs.
  • At around 2.06 pm, Nifty Consumer Durables was trading at 30,243.90 lower by 225.15 points or 0.74%. On the index, only 3 scrips advanced while 12 scrips declined.
  • TTK Prestige touched a new 52-week high of Rs10,587.15 per piece in the early trade. The stock was performing higher by over 13%. Read more

Ind Ra affirms PNB Gilts' short-term bank loans at 'IND A1+'

Published on: 2:12 pm

  • India Ratings and Research (Ind-Ra) has affirmed PNB Gilts Limited’s short-term bank loans at 'IND A1+'.
  • Ind-Ra has factored in the financial support available to PNB Gilts from its parent Punjab National Bank
  • The rating is driven by the PNB’s credit profile and Ind-Ra’s assessment of the parent’s willingness and capacity to provide timely support to PNB Gilts, if required, as per rationale report. Read more

Nifty Metal stocks take breather from gains; Index sheds over 1%; NALCO, Hindustan Zinc drag

Published on: 2:10 pm

  • Nifty Metal stocks pared early gains to turn bearish amid upbeat markets on Tuesday. The Index slipped 0.3% after shares of metal companies took a breather after soaring on Monday amid higher prices of base metals globally. The recent rally in base metal prices has come as a boon for metal companies.
  • Hindustan Copper, APL Apollo Tubes, and Vedanta led the gains while NALCO and Hindustan Zinc were under heavy pressure after clocking record highs on Monday. Hindalco was also trading in the red, after the highs of Monday.
  • The domestic equity benchmarks extended their upward rally for eight days today, even as rise in oil and other commodity prices fuelled global inflation concerns. Read more

Saboo Sodium Chloro's hospitality division to start development on new property in Rajasthan

Published on: 1:52 pm

  • Saboo Sodium Chloro Ltd has informed the exchange that its hospitality division is commencing development on a new property in Rajasthan.
  • Saboo Sodium Chloro Ltd's existing company property situated near Sambhar Lake, Rajasthan will be converted into a luxury short-stay accommodation. This is in-line with successful strategies in North America and Europe where freestanding properties available for short-term rentals have found above-market rates and high occupancy levels.
  • The property currently features a swimming pool, tennis courts, sauna/spa facilities and multiple bedroom accommodations. In addition, the property is situated scenically amongst expansive acres of environment-conscious lawns and gardening. Read more

IRCTC market-cap surpasses Rs1 lakh cr; stock jumps over 7.5%

Published on: 1:50 pm

  • Shares of Indian Railway Catering and Tourism Corporation (IRCTC) today has joined the elite club of companies commanding Rs1 lakh crore market capitalization (m-cap) on the BSE. The stock has hit a new high of Rs6,375.45 on the BSE in the intra-day trade on Tuesday.
  • The stock has rallied nearly 8% today and has zoomed 33% in the past five trading days.
  • IRCTC has fixed October 29, 2021, as the record date to ascertain the name of shareholders entitled for subdivision/split of equity shares of Rs10 each into five (5) equity shares of the face value of Rs2 each. Read more

Nifty FMCG slips over 320 pts as ITC nosedives over 5%; HUL, Nestle, Radico, UBL, Tata Consumer shin

Published on: 1:38 pm

  • FMCG stocks were under pressure on Tuesday ahead of major quarterly earnings. The Nifty FMCG index hovered between an intraday high and low of 41,704.50 and 41,121.45 respectively. ITC weighed the most that offset gains arising from HUL, Nestle, Radico, United Breweries, and Tata Consumer.
  • At around 1.28 pm, Nifty FMCG was trading at 41,242.65 lower by 321.50 points or 0.77%. On the index, 11 scrips advanced and 4 scrips declined.
  • ITC stock was the top bear nosediving by over 5%. ITC is in focus ahead of its Q2 earnings that are scheduled on October 27, 2021. The company's peers HUL and Nestle will announce their quarterly financial performance later today. Read more

Market pulse at 1:30 PM today

Published on: 1:30 pm

  • BSE Sensex is currently 62,194.38 up 428.79 points or 0.69%.
  • Nifty50 is currently 18,582.80 up 105.75 points or 0.57%. Nifty Bank is 39,824.30 up 0.35%. Mid-cap Index is down 0.04%.
  • Tech Mahindra, Larsen & Turbo, Bajaj Finserv, Infosys, and Bharti Airtel are the top gainers. ITC, Eicher Motors, Ultratech Cement, Divis Lab, and Titan are the top losers. Read more

BSE IPF organises first physical Investors’ Awareness Program in association with SEBI, Ministry of

Published on: 1:22 pm

  • BSE Investors Protection Fund (BSE IPF) in co-ordination with SEBI and CDSL and under the aegis of the Ministry of Finance conducted first physical seminar on Investor Awareness at Chennai on October 16, 2021, under the  “Azadi Ka Amrit Mahotsav”  series. This is the first of 100 programs planned to celebrate 75 years of India’s independence and promote Investor Awareness and Education to achieve financial independence.
  • G. Mahalingam, Whole Time Director (WTM) SEBI was the Chief Guest at the program where Shri N. Hariharan, CGM SEBI, Shri B. Rajendran, Regional Director,  SRO SEBI, CS Shri Khushro Bulsara, Head - BSE IPF and Shri. Yogesh Kundnani, Vice President, CDSL were the other dignitaries who spoke at the event. Since the program was conducted with a limited number of investors physically present to strictly follow Covid-19 guidelines issued by the authorities, it was also streamed LIVE on YouTube. Read more

Nifty Realty drags upon correction in stocks; Brigade advances, Lodha drags

Published on: 1:15 pm

  • The Nifty Realty stocks were bearish amid bullish markets on Tuesday. The Index slipped 2.3% after realty stocks corrected. The index had advanced 1.76% in the past two sessions.
  • Brigade was the lone stock in the sector to trade in the green, surging 3% while the rest of the stocks on Nifty50 struggled in the red zone. Lodha dragged the most while Oberoi Realty, Indiabulls Real Estate, DLF, and Phoenix Mills were also 3% down.
  • The sector has shown steady improvement with the ease in curbs after check-in Covid-19 second wave spread and festivity have cheered the investors. Read more

Sunteck Realty collection efficiency stood strong at 85% of Pre-sales in H1FY22; stock dips 1%

Published on: 1:14 pm

  • Sunteck Realty Limited, Mumbai’s luxury real estate developer, announced its Q2 FY22 financial results. The real estate company recorded pre-sales grows by 55% qoq & 36% yoy to Rs 272 cr.
  • Collections grows by 20% qoq & 47% yoy to Rs 207 cr and Collection efficiency stood strong at 85% of Pre-sales in H1 FY22 as against 68% in H1 FY21.
  • The stock is currently trading at Rs491.05 down by Rs6 or 1.21% from its previous closing of Rs497.05 on the BSE. Read more

Gati ramps up network capacity by 25% to strengthen Flexi fleet of dedicated trucks amid festive dem

Published on: 1:06 pm

  • Express distribution leader Gati Ltd has ramped up its network capacity by 25% by adding 100 line haul trucks to its innovative flexi network to connect the demand locations. Thus, Gati aims to cut down the dwell time further in view of the huge spike in demand during the festival season, billed as the stress-test time for supply chain players.
  • The additional trucks in the special flexible network based on the market and route dynamics, will connect the key locations to ease the pressure of servicing the demands, as informed by the company. Read More

RBI imposes Rs1cr penalty on SBI for non-compliance

Published on: 12:50 pm

  • The Reserve Bank of India (RBI) on Monday imposed a monetary penalty of Rs1cr on the State Bank of India (SBI) for non-compliance.
  • “RBI in the exercise of powers vested in RBI under the provisions of section 47A (1) (c) read with sections 46(4)(i) and 51(1), of the Banking Regulation Act, 1949, as applicable has levied a monetary penalty of Rs1cr on the Bank for non-compliance with the directions contained in ‘Reserve Bank of India (Frauds classification and reporting by commercial banks and select FIs) directions 2016’,” the company said in a filing on Monday. Read more

Sangal Papers hits 5% upper circuit after receiving reaffirmation in credit ratings by Brickwork

Published on: 12:43 pm

  • Brickwork Ratings reaffirms the ratings for the Bank Loan Facilities of Rs21.90cr of Sangal Papers Ltd.
  • BWR has reaffirmed the rating of Sangal Paper Limited to BWR BBB- (Stable)/ A3 deriving its strength from the experience of the management, moderate financial risk profile as marked by comfortable tangible Net worth, comfortable gearing ratio and moderate debt protection metrics. Read More

Govt. says prices of onion, tomato and potato cheaper than last year

Published on: 12:41 pm

  • The Department of Consumer Affairs has taken up calibrated and targeted release of onions from the buffer on First-in-First-Out (FIFO) principle commenced from last week of August 2021 guided by the twin objectives of moderating prices and ensuring minimal storage loss.
  • As a result of which the retail price of Onion in Delhi is viz Rs 44 kg as of 14.10.2021. Similarly in Mumbai, Kolkatta and Chennai are Rs 45 kg, Rs57 kg and Rs42 kg respectively. The All India retail price of Onion on 14.10.2021 is Rs 37.06 per kg while the All India wholesale price of Onion is Rs 3002.25 per quintal. Read more

Market pulse at 12:30 PM today

Published on: 12:30 pm

  • Benchmark market indices led by IT stocks continue to soar to record highs; Sensex nears 62,200, Nifty closes 18,600.
  • BSE Sensex is currently 62,184.55 up 418.96 points or 0.68%.
  • Nifty50 is currently 18,578.00 up 100.95 points or 0.55%. Nifty Bank is 39,858.40 up 0.44%. Mid-cap Index is flat.
  • Tech Mahindra, Larsen & Turbo, Bajaj Finserv, Infosys, and Wipro are the top gainers. ITC, Eicher Motors, Ultratech Cement, Titan, and Divis Lab are the top losers.
  • Nifty IT stocks soar 3% while Banking and Financial Services stocks also trade higher. Nifty Realty, Consumer Durables, and PSU Bank stocks are under pressure.
  • Out of 50 stocks traded on the BSE, 28 advanced, and 22 declined. Read More

Nestle stock jumps over 1.5% as investors are upbeat ahead of Q3 financial performance

Published on: 12:25 pm

  • Nestle is set to announce its financial performance for the quarter ending September 2021 (Q32021) later today. The company follows a calendar year for announcing its financial performance.
  • At around 12.21 pm, Nestle is trading at Rs19528 per piece up to Rs100.75 or 0.52% on Sensex. The stock has gained by more than 1.5% with an intraday high of Rs19733.50 per piece earlier today.
  • For Q3-2021, Nestle's margin is expected to be under pressure. On the contrary, Nestle's top-line front is seen to be healthy with double-digit growth driven by rising milk-based products demand and also strong momentum in the noodles category. Read More

GRM Overseas appoints Sanjeev Dar as COO of Consumer Staple Business of GRM Foodkraft

Published on: 12:21 pm

  • GRM Overseas Ltd has informed that Sanjeev Dar has been appointed as Chief Operating Officer (COO) - Consumer Staple Business of GRM Foodkraft Pvt. Ltd, a subsidiary of the company, w.e.f. October 18, 2021.
  • He will be looking after the Sales & Marketing, Business Development, commercial & go-to-market strategies and Supply chainof the Subsidiary.
  • Sanjeev Dar has done Post Graduate Executive Management Programme (PGEMP) from SP Jain Institute of Management & Research, Mumbai and is Bachelor of Agriculture Science from Himachal Pradesh Krishi Vishwa Vidyalaya, Palampur (H.P.). Read More

Dr. Reddy's Laboratories receives USFDA approval for Lenalidomide Capsules

Published on: 12:14 pm

  • Dr. Reddy’s Laboratories Ltd., along with its subsidiaries together referred to as (Dr. Reddy’s”) today announced the final approval of its Abbreviated New Drug Application (ANDA) for Lenalidomide Capsules, in 2.5 mg and 20 mg strengths, and tentative approval for 5 mg, 10 mg, 15 mg, and 25 mg strengths, a therapeutic equivalent generic version of REVLIMID (lenalidomide) Capsules, from the U.S. Food and Drug Administration (USFDA).
  • With this approval, Dr. Reddy’s is eligible for 180 days of generic drug exclusivity for Lenalidomide Capsules, 2.5 mg and 20 mg. In September 2020, Dr. Reddy’s announced a settlement agreement of their litigation with Celgene, the maker of REVLIMID (lenalidomide) Capsules and a wholly-owned subsidiary of Bristol Myers Squibb, relating to patents for the branded drug. Read More

Dixon Tech hits record high after subsidiary Padget commences manufacturing of Mobile Phones for Orb

Published on: 12:02 pm

  • Dixon Technologies (India) Limited informed the exchanges that its wholly-owned subsidiary- Padget and Orbic, a US-based smartphone manufacturer has entered into an agreement for manufacturing of smartphones at Padget’s manufacturing facility situated at Noida.
  • The new Orbic Myra 5G UW, powered by the Snapdragon 750G 5G Mobile Platform, will be the first 5G millimeter wave product to be produced in India for export to the US. Read More

Choice International incorporates wholly owned subsidiary 'Choice Housing Finance'; Stock sheds 3%

Published on: 12:00 pm

  • Choice International Limited has informed that the Company has incorporated a wholly owned subsidiary in the name of Choice Housing Finance Private Limited.
  • Through it's a wholly owned subsidiary Choice Housing Finance Private limited, the group is keen on expanding its horizon of services by providing Housing Finance Services, subject to the approval from the statutory Authorities, said company in a regulatory filing.
  • The Company shall soon apply for the applicable licenses to conduct the above mentioned activities, it added. Read more

HCL Tech named among World’s Best Employers by Forbes for second consecutive year; Stock up 1.5%

Published on: 11:40 am

  • HCL Technologies Limited (HCL), a leading global technology company, has been featured in Forbes’ 2021 list of the ‘World’s Best Employers for the second consecutive year. HCL has also emerged as the top-ranked company globally in the professional services sector and one of the top five India-headquartered multinationals across all sectors.
  • The company stock was bullish on Tuesday and at around 11.42 am, HCL Technologies Ltd was trading at Rs1,240.65 per piece up by Rs19.3 or 1.58% from its previous closing of Rs1,221.35 per piece on the BSE. Read more

Hindustan Unilever stock surges nearly 3% ahead of Q2 earnings

Published on: 11:39 am

  • FMCG giant, Hindustan Unilever (HUL) is set to announce its September 2021 (Q2FY22) earnings later on Tuesday. The company's stock traded in the fast lane ahead of the earnings.
  • During Q2FY22, on the back of better consumer demand, speedy recovery in rural markets, and strong improvement in the home care and beauty & personal care businesses - is seen to lift HUL's revenue and result in double-digit growth. HUL's profit is also expected to rise aided by higher sales from low base quarters. However, the company's margins are expected to contract in the quarter under review. Read More

Market pulse at 11:30 AM today

Published on: 11:30 am

  • Indices regain winning momentum to rise further; IT stocks soar over 3%.
  • BSE Sensex is currently 62,131.38 up 365.79 points or 0.59%.
  • Nifty50 is currently 18,562.75 up 85.70 points or 0.46%. Nifty Bank is 39,792.15 up 0.27%. Mid-cap Index is down 0.11%.
  • Tech Mahindra, Larsen & Turbo, Infosys, Wipro, and HUL are the top gainers. ITC, Eicher Motors, Ultratech Cement, Titan, and Divis Lab are the top losers.
  • Nifty IT stocks soar over 3% while Metal and Banking and Financial Services stocks also trade higher. Nifty Realty, Consumer Durables, and PSU Bank stocks remain under extreme pressure.
  • Out of 50 stocks traded on the BSE, 25 advanced, 24 declined and 1 unchanged. Read More

Sterlite Power wins order for Rs324cr power transmission project

Published on: 11:24 am

  • Sterlite Power, a leading private sector power transmission infrastructure developer and solutions provider, has been awarded the Nangalbibra ─ Bongaigaoninter - state power transmission project worth Rs324cr through tariff-based competitive bidding (TBCB) by virtue of emerging as the L1 bidder.
  • The project elements consist of a new 220/132 kV substation at Nangalbibraand laying of ~130 km of 400kV D/c transmission line connecting Bongaigaon in Assam to Nangalbibra in Meghalaya across the river Brahmaputra. The project will also have~20km of 132kV D/c line connecting Hatsinghmari in Assam to Ampati in Meghalaya. Read More

ITC stock under pressure as investors book profits, Q2 earnings in focus

Published on: 11:24 am

  • ITC stock emerged among top bears on Tuesday's trading session as peer Hindustan Unilever (HUL) is set to announce its financial performance for the quarter ending September 2021 (Q2FY22) later today.
  • ITC stock that has been underperforming amid Covud-19, picked up the pace and made a good comeback last week. However, Q2 earnings seasons in the FMCG sector will be swaying markets outlook.
  • In the early deals today, ITC stock has plunged by more than 5% with an intraday low of Rs248.70 per piece on Sensex. Read more

Mahanadi Coalfields scales new heights in coal supply; Dispatches 5.47 lakh tonne coal on Oct 17

Published on: 11:19 am

  • Mahanadi Coalfields Limited (MCL), the leading coal producer, has dispatched over 5.47 lakh ton coal to consumers yesterday breaking its own record of 5.45 lakh tonne within a fortnight.
  • The Company dispatched the highest ever 103 rakes of coal with 65 rakes coming from Talcher coalfields while 38 rakes were supplied from Ib Valley coalfields.
  • P K Sinha, Chairman-cum-Managing Director, congratulated the officers and workers of MCL for their consistent and coordinated approach to maximise coal supply which has resulted in an average dispatch of 5.17 lakh tonne per day for the month of October. Read more

Narbada Gems launches extension to 'Vilandio' - Flat Polki Diamond Jewellery Collection; Stock tanks

Published on: 11:16 am

  • Narbada Gems and Jewellery Limited has launched an extension to its already ongoing exclusive jewellery collection, "Vilandio' - Flat Polki Diamond Jewellery Collection".
  • The company stock was under pressure and at around 11.20 am, Narbada Gems & Jewellery Ltd was trading at Rs31.70 per piece down by Rs2.25 or 6.63% from its previous closing of Rs33.95 per piece on the BSE.
  • “We are elated to announce that we are making good progress towards the strategic choices outlined earlier this year, specifically by introducing the development of our new product offering with stunning designs and several varieties in the category of heavy Royal Necklaces,” the company said in a filing on Monday. Read More

CCI approves acquisition of worldwide healthcare BPO services of Hinduja Global Solutions by Betaine

Published on: 11:10 am

  • The Competition Commission of India (CCI) approves the Acquisition of the worldwide healthcare BPO services of Hinduja Global Solutions Limited, by Betaine B.V.
  • The proposed combination pertains to the proposed acquisition of worldwide healthcare business process outsourcing (BPO) services of Hinduja Global Solutions Limited (HGS), along with certain assets, contracts and employees by Betaine B.V. (Betaine), the Ministry of Finance said.
  • Betaine has been recently incorporated in the Netherlands for the purposes of the Proposed Transaction and is an entity, which is ultimately owned and controlled by funds comprising The Baring Private Equity Asia Fund VIII which is a fund affiliated with Baring Private Equity Asia Pte. Ltd. (BPEA). Betaine is currently not engaged in any business activity (directly or indirectly) in India. Read more

CARE reaffirms credit rating on bank facilities of Oriental Rail Infra

Published on: 11:10 am

  • CARE Ratings Limited has rated the bank facilities Rs50cr of Oriental Rail Infrastructure Limited. The ratings on long-term bank facilities Rs32cr has been reaffirmed at CARE BBB-; Stable.
  • The rating on short-term bank facilities was Rs18cr was reaffirmed at CARE A3. 
  • At around 11.12 am, Oriental Rail Infrastructure Ltd was trading at Rs95.90 per piece up Rs0.45 or 0.47% on the BSE.  Read More

Godrej Properties ranked first amongst listed global residential developers by GRESB for a second co

Published on: 11:08 am

  • Godrej Properties Limited (GPL) has announced that GRESB, an organization that provides Environmental, Social and Governance (ESG) benchmarksfor real estate organizations across the world has recognized Godrej Properties as a Real Estate Development Sector Leader globally for listed residential real estate.
  • Each year GRESB recognizes and celebrates participants from across the world who have excelled with their leadership and commitment as real estate sector leaders with the expectation that these organizations will help drive ESG improvements across the industry. Read More

Gillete India shareholders approve appointment of Gautam Kamatha as Director

Published on: 10:57 am

  • Gillette India Limited informed the exchanges Monday that the Shareholders have approved such an appointment of Gautam Kamatha as Executive Director on October 16, 2021, via Postal Ballot held by the company.
  • The company was informed on July 6, 2021, regarding appointment of Gautam Kamath as an Executive Director of the Company for a period of five years with effect from August 1, 2021, subject to the approval of the Shareholders of the Company.
  • “We are pleased to inform you that the Shareholders have approved such appointment on October 16, 2021 via Postal Ballot held by the Company,” it said in a regulatory filing on Monday. Read More

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