Live market updates

20th Oct, 2021

Tata Tele Business Services launches 'Smart Internet' for businesses

Published on: 5:00 pm

  • Tata Tele Business Services (TTBS) has announced the launch of Smart Internet, Industry’s first smart internet leased- single suite combining high speed internet with cloud based security and greater control at an optimised cost.
  • Digitally driven businesses that continue to modernize their operations require network manageability and visibility alongside consistent and fast internet connectivity with built-in robust cyber threat protection.
  • Due to the increased frequency and sophistication of cyberattacks like phishing, ransomware among others, network manageability and visibility has always been a concern that has rendered many businesses unproductive with profound impact on their financials, reputation, and sustainability. Smart Internet helps overcome all these challenges. Read more

Ganesha Ecosphere ties with Applied DNA to deploy CertainT platform to secure recycled polyester sup

Published on: 4:59 pm

  • Ganesha Ecosphere has signed a mutual collaboration agreement with Applied DNA Sciences (APDN). Under the terms of the deal, Ganesha will deploy the CertainT platform, Applied DNA's traceability system, to tag an initial pilot production of recycled polyester (rPET) at Ganesha's facilities in India and conduct confirmatory samples testing at Applied DNA's laboratories in India and the U.S.
  • The collaboration between the two companies will provide brands and textile manufacturers with a trusted solution to support their sustainability goals for rPET and confirm raw material authenticity at all stages of the textile value chain. Read more

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TCS wins two 2021 ITSMA Diamond Awards for Marketing Excellence

Published on: 4:55 pm

  • Tata Consultancy Services (TCS), leading global IT services, consulting, and business solutions organization, announced that it has won two diamond level awards at the 2021 ITSMA Marketing Excellence Awards in the categories – Embedding ABM Programs and Orchestrating Executive Engagement.
  • The 2021 ITSMA Marketing Excellence Awards recognize and honor marketing initiatives and campaigns that have delivered superior performance in the four most critical aspects of marketing success: customer focus, innovation, execution, and business impact. The program focuses exclusively on marketing for B2B services and solutions and highlights the most important dimensions of a strategic, collaborative approach to marketing. Read more

PVR opens 6 screen multiplex in Mumbai

Published on: 4:38 pm

  • PVR Limited has opened 6 new screen multiplex, PVR Maison, in Jio World Drive, Bandra Kurla Complex at Mumbai. PVR Maison has an exclusive color theme in 3 auditoriums and strengthens the brand’s portfolio of premium formats with 2 new LUXE screens and 1 viewing room for bespoke private screenings.
  • Equipped with the most advanced 4K RGB Laser Projection System with Atmos Surround Sound System and State of the art high-resolution screens.
  • With this launch, PVR now operates the largest multiplex network with of 855 screens at 178 properties in 72 cities (India and Sri Lanka). Read more

Jindal Saw bags contract for repair and maintenance of Sathavahana Ispat facilities

Published on: 4:25 pm

  • Jindal Saw Limited has been awarded the contract for carrying out the repair and maintenance of the manufacturing facilities of Sathavahana Ispat Limited by Resolution Professional appointed under the Insolvency and Bankruptcy Code, 2016.
  • Jindal Saw Ltd stock trade ended at Rs117.35 per piece down by Rs1.3 or 1.1% from its previous closing of Rs118.65 per piece on the BSE. Read more

JK Lakshmi Cement resumes dispatches in Durg plant after association calls off strike

Published on: 4:12 pm

  • JK Lakshmi Cement Limited informed the exchanges that Chhattisgarh Cement Transport Association has called off the strike and dispatches from its Cement Plant in Durg have resumed from October 19, 2021.
  • “The illegal strike called by the Chhattisgarh Cement Transport Association has since been called-off by them w.e.f. October 18, 2021. It is hoped that normalcy will be restored shortly. Read more

RBI Bulletin October 2021: Softer than expected food prices have eased headline inflation

Published on: 4:06 pm

  • In its October 2021 bulletin, the Reserve Bank of India (RBI) said that softer than expected food prices have eased headline inflation into a closer alignment with the target.
  • Highlighting the state of the economy, RBI said that "amidst an accentuation of global risks, the Indian economy is picking up steam, although the recovery is uneven and trudging through soft patches. The step-up in vaccination, slump in new cases/mortality rates and normalising mobility has rebuilt confidence."
  • RBI added that domestic demand is gaining strength while aggregate supply conditions are recouping, powered by the robust performance of Kharif agricultural production and revival in manufacturing and services. Read more

Swan Energy executes Share Purchase Agreement with Veritas

Published on: 4:03 pm

  • Swan Energy Limited has executed a 'Share Purchase Agreement' with Veritas (India) Limited to acquire 7,400 equity shares of Veritas Infra & Logistics Private Limited (VILPL) at Rs10/ - each.
  • “By virtue of the above agreement, VILPL will become subsidiary of the company,” the company said in a filing on Tuesday. Read more

Thomas Cook India’s foreign exchange opens new branch in Margao, Goa

Published on: 4:00 pm

  • Thomas Cook (India) Ltd has opened a new foreign exchange branch in Goa. The branch was inaugurated by Ambreesh Rastogi and Jayesh Joshi, Associate Vice Presidents of the company’s Foreign Exchange business.
  • Thomas Cook India’s internal data has identified Goa as a high opportune source market, and the new foreign exchange branch, is hence aimed at maximising this growth potential. Thomas Cook India’s foreign exchange distribution/reach in Goa now extends to 2 owned branches with presence in both North & South Goa.
  • Thomas Cook India’s new outlet in Goa will empower consumers with end-to-end forex solutions along with a range of travel and travel related services, which include: Read more

CRISIL: Bank gross NPAs to rise to 8-9%, stressed assets to touch 10-11%

Published on: 3:59 pm

  • CRISIL in its latest report said that banks gross non-performing assets (NPAs) will rise to 8-9% this fiscal. However, the latest expectations are still below the peak of 11.2% seen at the end of fiscal 2018.
  • As per Crisil, the Covid-19 relief measures such as the restructuring dispensation, and the Emergency Credit Line Guarantee Scheme (ECLGS) will help limit the rise.
  • The rating agency highlighted that with ~2% of bank credit expected under restructuring by the end of this fiscal, stressed assets - comprising gross NPAs and loan book under restructuring - should touch 10-11%. Read more

Markets close lower; Midcap Stocks underperformed

Published on: 3:42 pm

  • Markets witnessed a negative day of trade, with the benchmark index closing lower on account of a heavy profit booking.
  • Bank Nifty outperformed the Nifty by 0.75% with the former closing in the green while the later closing in the red. 
  • Midcap stocks were among the top underperformers with stocks like IRCTC, Deepak Ntr & Jubl Foods adding heavy short positions during the day. Nifty Midcap 100 index closed ~2% lower. Read more

IndusInd Bank launches EMI on debit cards to commemorate the festive season

Published on: 3:23 pm

  • In a bid to add to the festive fervour, IndusInd Bank today has announced the launch of EMI (Equated Monthly Instalments) facility on Debit Cards to enable its customers to convert their high value transactions into easy instalments. A debit card holder of the Bank can walk into any participating store, and avail this facility by simply swiping/tapping their card at a merchant PoS terminal.
  • Speaking about the proposition, Charu Mathur, Chief Digital Officer & Head-Business Strategy, IndusInd Bank, said, “IndusInd Bank has always been at the forefront at driving customer convenience by introducing products that bring unparalled value to their banking experience. Read more

Bharti Airtel stock climbs 4% after launching 'Airtel IQ Video' platform

Published on: 2:45 pm

  • Bharti Airtel has launched its Video Platform as a Service (CPaaS) – ‘Airtel IQ Video’. The solution has been developed by Airtel’s in-house engineering teams. By leveraging Airtel’s resilient cloud, and cutting edge video technologies, Airtel IQ Video allows businesses to build world-class video streaming products for large and small screens with minimal investment in infrastructure and technology.
  • Airtel IQ Video is an end-to-end managed solution that brings convenience along with cost benefits. It encompasses a variety of features ranging from app development, content hosting, curation and lifecycle management to search and discovery, analytics and monetisation models (advertising, subscriptions, transactions). Read more

Healthcare Triangle join hands with Google Cloud for healthcare and life sciences organizations; Sec

Published on: 2:38 pm

  • Securekloud Technologies announced that its leading provider of cloud and data transformation solutions in healthcare and life sciences, Healthcare Triangle (HCTI) has advanced to Google Cloud Premier Partner status. This advancement to ‘Premier’ status is based on its success in building, deploying, and managing Google Cloud solutions for regulated healthcare and life sciences organizations and building massive data analytics platforms on Google Cloud’s highly scalable and reliable infrastructure.
  • Through the Google Cloud Partner Advantage Program, HCTI solves healthcare and life sciences organizations’ complex challenges with innovative solutions in areas such as data analytics, AI, security, compliance, blockchain capabilities, cloud DevOps and other key cloud products. With the Premier Partner status, HCTI continues to deploy the scalable and secure infrastructure on Google Cloud to maximize customers’ operational efficiencies. Read more

Brickwork reaffirms credit ratings of Shiva Global Agro Industries; Stock sheds 2%

Published on: 2:32 pm

  • Brickwork Ratings reaffirms the ratings for the Bank Loan Facilities of Rs54.29cr of Shiva Global Agro Industries Ltd.
  • Brickwork Ratings reaffirms BWR BBB-/Stable/ BWR A3 rating to the Bank Loan facilities of the company.
  • As per rationale report, BWR has relied upon standalone audited financials of the Company upto FY21, unaudited results for Q1FY22 and projected financials upto FY23, publicly available information and clarifications/information provided by the management. Read more

OnMobile announces new leadership structure, Sanjay Baweja takes over as MD and Global CEO

Published on: 2:31 pm

  • OnMobile Global has announced a new leadership structure to further strengthen its focus towards the key business functions, D2C gaming and B2B products & solutions.
  • Sanjay Baweja takes over as Managing Director & Global CEO of OnMobile Global. In his long career, Sanjay has played key roles in Mergers & Acquisitions across geographies. His last assignment was as Group President for the Bhartiya Group, responsible for all group strategic initiatives, exploring new tie-ups and business transformation. He has held leadership roles (Finance) in Xerox; Emaar MGF Land Pvt. Ltd. and Bharti Airtel Ltd. Sanjay had been associated with OnMobile Global Limited as an Independent Director on the Board from September’ 2015 till May 2020 and as Chief Financial Officer from June’ 2020. Read more

Market pulse at 2:30 PM today

Published on: 2:30 pm

  • Equity market indices extended losses as metals continue to drag the overall markets while IRCTC stocks are the most active.
  • BSE Sensex is at 61,159.33 down 556.72 points or 0.90%.
  • Nifty50 is at 18,226.80 down 191.95 points or 1.04%. Nifty Bank also slipped 0.36% at 39,397.15. Mid-cap Index is down 2.76%. Read more

HCL Technologies ties with Innovaccer to accelerate digital health transformation

Published on: 2:26 pm

  • HCL Technologies (HCL) has partnered with Innovaccer Inc. to help healthcare and life sciences organizations drive digital health transformation. The tie-up will help improve population health, value-based care, connected health, patient-physician engagement and other industry imperatives by ingesting, aggregating, and normalizing healthcare data from disparate sources to improve data quality and health outcomes.
  • “Our partnership with Innovaccer will further enable us to help our clients catalyze their digital journeys and enhance overall quality, confidence, and speed of delivering data solutions for our healthcare and life sciences clients,” said Shrikanth Shetty, Corporate Vice President and Head of Life Sciences and Healthcare, HCL Technologies. “We look forward to working with Innovaccer to speed up implementation and integration timelines and quickly deliver value to our clients.” Read more

Rakesh Jhunjhuwala sells 5.35% stake in The Mandhana Retail, offloads 1.8% in TARC during Q2FY22

Published on: 2:19 pm

  • Rakesh Jhunjhunwala has trimmed his stakes in a total of six stocks so far in his portfolio during the quarter ending September 2021 (Q2FY22). However, the Big Bull reduced his stakes massively in two stocks namely The Mandhana Retail Ventures and Tarc.
  • In Q2, Jhunjhunwala sold about a 5.35% stake in The Mandhana Retail, taking his shareholding to 7.4% or 1,630,900 equity shares. As of June 2021, the Dalal Street king's holding in the company stood 12.7%.
  • Meanwhile, in Tarc, Jhunjhunwala reduced his shareholding by 1.8% in the company to 1.6% or 4,695,000 equity shares. In the previous quarter, his shareholding stood at 3.4%. Read more

Adani Group to invest over $50-70B in renewable energy value chain, commits 70% of planned CAPEX unt

Published on: 2:10 pm

  • Gautam Adani, Chairman of Adani Group says that green policies and climate action not based on equitable growth will struggle in the long run. He suggested that a collaborative approach was needed wherein developed nations, which have emitted more greenhouse gases over time, shoulder greater responsibility and propose policies and targets that fairly address the needs of the developing world.
  • Adani said that to the business leaders on the side-lines of the UK’s Global Investment Summit at the London Science Museum. Read more

Nifty Bank holds steady as PSU banks outshine; SBI hits new 52-week high; PNB, Kotak Bank, AU Small

Published on: 1:58 pm

  • Banking stocks are broadly in a volatile session as investors worry over the rise in bad loans this fiscal. Bank Nifty hovered between an intraday high and low of 39,774.55 and 39,292.80 respectively. The index is trading steady as PSU Banks offset the losses arising from private lenders. The sector is also in focus amid September 2021 quarter ending earnings seasons. SBI hits a new all-time high driving the sector majorly.
  • At around 1.43 pm, Bank Nifty is trading at 39,597.95 up 57.45 points or 0.15%. On the index, six scrips advanced and six scrips declined.
  • SBI was the top gainer soaring by 2.4% after hitting a new 52-week high of Rs507.50 per piece. Read more

Newgen Software Technologies positioned as Visionary in 2021 Gartner Magic Quadrant

Published on: 1:44 pm

  • Newgen Software Technologies Ltd, a global provider of digital transformation platformhas has informed that the company has been positioned as a Visionary in the 2021 Gartner Magic Quadrant for Content Service Platforms for its ability to execute and completeness of vision.
  • At around 1:43 PM, Newgen Software Technologies was trading at Rs610.45 apiece down by Rs20.6 or 3.26%. Read more

Market pulse at 1:30 PM today

Published on: 1:30 pm

  • Benchmark indices trade lower as metals continue to drag the overall markets.
  • BSE Sensex is at 61,500.68 down 215.37 points or 0.35%.
  • Nifty50 is at 18,336.95 down 81.80 points or 0.44%. However, Nifty Bank surges 0.32% at 39,668.15. Mid-cap Index is down 1.44%. Read more

Gokul Agro Resources' step-down subsidiary incorporates wholly-owned subsidiary in Indonesia

Published on: 12:47 pm

  • Gokul Agro Resources Ltd has informed that Maurigo Indo Holdings Pte Limited, a Step Down Subsidiary of the company has incorporated a Wholly Owned Subsidiary Company "PT. RIYA PALM LESTARI" in Indonesia. Consequent to the said incorporation, PT. RIYA PALM LESTARI has become a Second Step Down Subsidiary of the Company.
  • Further, the business of second step-down subsidiary (SSDS) company would be of Edible Oils i.e. in the main line of business of the listed entity, the company said in a regulatory filing.
  • The second step-down subsidiary is registered under Indonesia's Company Law and is yet to commence its business. Read more

Market pulse at 12:30 PM today

Published on: 12:30 pm

  • Benchmark indices turns bearish to trade lower as metals dragged the most across sectoral indices.
  • BSE Sensex is at 61,379.19 down 336.86 points or 0.55%.
  • Nifty50 is at 18,292.70 down 126.05 points or 0.68%. Nifty Bank also slipped 0.11% at 39,497.80. Mid-cap Index is down 1.69%.
  • Bharti Airtel, State Bank of India, HCL Tech, Tech Mahindra and Ultra Cement are the top gainers. Hindalco, Coal India, Eicher Motors, Indian Oil Corporation and BPCL are the top losers.
  • Nifty Metal stocks continue to drag the overall markets by tumbling 2.5% while Nifty PSU Bank maintains to hold the trade by gaining around 1.5%.
  • Out of 50 stocks traded on the NSE, 11 advanced and 39 declined. Read more

Canara Bank staff to hold a strike on October 22 in Kerala; Stock surges

Published on: 12:28 pm

  • Canara Bank employees union will hold a strike on October 22 in the state of Kerala. The Indian Banks' Association (IBA) has informed the Bank about the strike.
  • There will be four employees union who have given the call for a strike. These are - All India Bank Employees' Association (AIBEA), Bank Employees' Federation of India (BEFI), Indian National Bank Employees' Federation (INBEF) and All India Bank Officers' Confederation (AIBOC).
  • In its regulatory filing, Canara Bank said, "The Bank is taking necessary steps for smooth functioning of Bank's Branches / Offices on the day of proposed strike." Read More

IRCTC erases Rs1 lakh cr market cap glory, stock nosedives 18% today

Published on: 12:16 pm

  • IRCTC stock has witnessed a roller-coaster ride on stock exchanges since the previous trading session. On Wednesday, IRCTC stock nosedived a whopping over 18% erasing massive valuations. The steep selloff comes right after IRCTC crossed over Rs1 lakh cr market cap.
  • At around 12.07 pm, IRCTC was trading at Rs4608.05  per piece nosediving by Rs754.95 or 14.08% on Sensex. At the current price, the company's market cap stood near Rs74,000cr.
  • Today, IRCTC stock has dived by at least 992 points. Read more

RMC Switchgears hits 5% upper circuit on development of IoT device

Published on: 12:10 pm

  • RMC Switchgears Ltd has informed to the stock exchanges that the company has now developed an IoT device which will help in monitoring the location, problems, abnormalities and power consumption (including energy auditing with features, smarter than smart meters) for the State Power Utilities.
  • The Company will soon roll it out for Domestic Applications as well which will also provide Home Automation Systems. Read More

Nestle India stock in a volatile session despite Q3 PAT rises 5.16% yoy

Published on: 11:59 am

  • Shares of Nestle India slipped in the late morning trade on Wednesday’s trade. The net profits were up 5.16% on a yoy basis at Rs617.37cr in Sep-21 quarter while on a sequential basis, the profits were up by 14.63%.
  • The stock is currently trading at Rs19,136.35 down by Rs241.15 or 1.24% from its previous closing of Rs19,377.50 on the BSE. The scrip opened at Rs19,499 and has touched a high and low of Rs20,200 and Rs19,092.20 respectively.
  • Nestle has also declared a second interim dividend of Rs.110 per share. Net margins at 15.90% were lower than 16.58% in Sep-20 but better than 15.49% NPM in Jun-21 quarter. Nestle has adopted calibrated price hikes. Read More

Mitsu Chem Plast surges 2% on incorporation of wholly-owned subsidiary

Published on: 11:59 am

  • Mitsu Chem Plast Ltd has informed in a regulatory filing that Mitsu Foundation is incorporated as a Wholly Owned Subsidiary of the Company on October 18, 2021.
  • Mitsu Foundation is incorporated to promote, encourage, support Corporate Social Responsibility Activities.
  • Also, to support rural and slum area development projects and promotion of disaster management including relief, rehabilitation and reconstruction activities. Read more

Indag Rubber updates on sale of stake in JV SUN Mobility EV Infra; Stock gains 2%

Published on: 11:41 am

  • Indag Rubber Ltd had earlier announced to the exchanges regarding sale / transfer of 15,00,000 equity shares of Rs.10 each of SUN Mobility EV Infra (P) Limited, (Joint Venture company - referred as JVCO), by the Company, to EPIC Mobility Technologies Pte Ltd. (Joint Venture Partner - hereinafter referred as Purchaser) at IRR of 15% pre-tax or Fair Market Value (whichever is higher).
  • The equity shares of Rs.10 each have been transferred at a price of Rs.14.642 per share (Total amount - Rs2.20cr) on October 18, 2021. Read more

Tata Steel and Tata Steel Europe win key recognitions at the 12th Annual Steelie Awards by World Ste

Published on: 11:40 am

  • Tata Steel has bagged two of the most prestigious recognitions at the World Steel Association’s 12th Annual Steelie Awards. Out of the total six categories in contention, Tata Steel Limited has won in the ‘Excellence in Digital Communications’ category and Tata Steel Europe bagged the ‘Excellence in Sustainability’ award for its Zero-carbon logistics’.
  • Tata Steel Limited’s recognition for Excellence in Digital Communications also marks a hattrick for the Company in this category. Over the last few years, the Company has elevated its digital presence and communication strategy to connect with its stakeholders. As part of the evaluation, the Jury has appreciated the brand’s quality presence and activities in the web space including social media. Digital innovation and leadership practices are also given due weightage for this category. Read more

Sonata Software garners consolidated Q2 PAT of Rs91.2cr; declares dividend of Rs8 per share

Published on: 11:35 am

  • Sonata Software, a global IT Services and Technology Solutions Company reported its unaudited financial results for its 2nd quarter and six months ended 30th September 2021.
  • The company’s net profit jumped 59.39% to Rs91.17cr in the quarter ended September 2021 as against Rs57.20cr during the previous quarter ended September 2020.
  • The sales of the company increased 19.83% to Rs963.18cr in the quarter ended September 2021 as against Rs803.77cr during the previous quarter ended September 2020. Read more

Market pulse at 11:30 AM today

Published on: 11:30 am

  • Benchmark indices trade flat amid volatility across sectoral indices despite positive global cues.
  • BSE Sensex is at 61,726.46 up 10.41 points or 0.02%.
  • Nifty50 is at 18,406.60 down 12.15 points or 0.07%. However, Nifty Bank is 39,682.30 up 0.36%. Mid-cap Index is down 0.64%.
  • Bharti Airtel, State Bank of India, Tech Mahindra, HCL Tech and Ultra Cement are the top gainers. Hindalco, Titan, Coal India, Eicher Motors and Bajaj Finserv are the top losers.
  • Nifty Metal stocks drag 1.5% in volatile market while Nifty PSU Bank hold the trade by gaining 2%.
  • Out of 50 stocks traded on the BSE, 19 advanced and 31 declined. Read More

Hindustan Unilever stock witness selling pressure after Q2 earnings, declares dividend

Published on: 11:26 am

  • FMCG-giant, Hindustan Unilever (HUL) witnessed selling pressure on Wednesday's trading bell after the company missed estimates in the financial performance for the quarter ending September 2021 (Q2FY22).
  • HUL posted a Q2 PAT of Rs2,187cr rising by 9% yoy. While the company recorded double-digit growth of 11.2% yoy to Rs12,724cr. In the current quarter, HUL's PAT was slightly below expectations, while the top-line front stood in-line. 
  • In its audit report, HUL said that performance was broad-based with all 3 divisions growing competitively. Business fundamentals  remained strong with more than three-fourths of the business gaining market share and penetration. Read more

ACC delivers healthy results amidst cost headwinds in Q3, PAT rises 24% yoy; stock soars 4%

Published on: 11:23 am

  • ACC has delivered a robust performance despite the challenging quarter. Its’s EBIT margin expanded by 70 basis points and PAT rose by 24% versus same period last year. ACC ran its operations with strong focus on Green Products through growth of ECO Pact concrete range.
  • The stock is currently trading at Rs2,343.50 up by Rs98 or 4.36% from its previous closing of Rs2,245.50 on the BSE. Read more

Rallis India reports 32% yoy decline in PAT during Q2; stock tanks 5%

Published on: 11:14 am

  • Rallis India Limited, a TATA Enterprise and a leading player in the Indian Agri inputs industry announced its financial results for the quarter and period ended 30 September 2021.
  • The Company recorded consolidated revenues of Rs728cr for the quarter ended 30 September 2021, a modest growth of 0.4% over PY of Rs725cr. Profit before tax (before exceptional items) was at Rs76cr, with a decline of 29% over PY of Rs108cr and the profit after tax (after exceptional items) was Rs56cr, registering a decline of 32% over PY of Rs83cr. Read More

TCS ties with US-based Heritage Life Insurance Company to transform customer experience

Published on: 11:11 am

  • Tata Consultancy Services has partnered with Heritage Life Insurance Company, a US-based provider of insurance and reinsurance services, to transform the customer experience for policy holders in the closed book of business it recently acquired.
  • In December 2019, Heritage Life acquired a closed book of life insurance policies as part of its growth strategy. It selected TCS to build a new, resilient, and scalable customer service platform that would deliver a superior customer experience before the Transition Services Agreement (TSA) expiry and ensure continuity of service to the policy holders. Read More

CSB Bank's staff carry three-day strike from today; Stock trades flat

Published on: 11:05 am

  • CSB Bank has received a notice from unions proposing to go on a three days strike demanding resolution of certain issues in the Bank.
  • The strike begins on October 20, 2021, and is expected to continue till October 22, 2021.
  • In its regulatory filing, on Tuesday, CSB Bank said that the " Catholic Syrian Bank Officers’ Association (CSBOA), Catholic Syrian Bank Staff Association (CSBSA), Catholic Syrian Bank Staff Federation (CSBSF) and Catholic Syrian Bank Award Staff Union (CSBASU) have given notice that their members propose to go on strike on three days starting from October 20, 2021, to October 22, 2021, demanding resolution of certain issues in the Bank." Read More

Sun Pharma to announce Q2FY22 results on November 02

Published on: 11:01 am

  • Sun Pharmaceutical Industries Limited will announce results for the second quarter ending September 30, 2021, on November 02, 2021. These results will also be available on the Company’s website.
  • The Company will conduct an hour-long call at 06.30 pm IST on November 02, 2021, where senior management will discuss the Company’s performance and answer questions from participants. To participate in this conference call, please pre-register yourself on the below link and dial the numbers provided below, five to ten minutes ahead of the scheduled start time. Read More

Rakesh Jhunjhunwala adds two new stocks to his portfolio in Q2, takes a liking to Canara Bank, NALCO

Published on: 10:52 am

  • The September 2021 (Q2FY22) quarter was a busy one for the Dalal Street King, Rakesh Jhunjhunwala. While making a series of stake sales in some of his stocks, the Big Bull took a liking to two new stocks belonging to the banking and metal sector. These two stocks were Canara Bank and National Aluminium (NALCO).
  • In Q2FY22, Jhunjhunwala bought 1.6% or 29,097,400 equity shares in Canara Bank. Meanwhile, he purchased about 1.4% or 25,000,000 equity shares in NALCO.
  • As per the data, Jhunjhunwala's shareholding in Canara Bank and NALCO is currently valued at nearly Rs555cr and over Rs285cr respectively. Read more

Nifty Metal under pressure amid volatility; Majority stocks in red; Adani Enterprises top gainer

Published on: 10:50 am

  • Metal company stocks were under selling pressure on Wednesday tracking a broader bearish bandwagon on the street. In the opening bell, the index has tumbled by 2% so far today with an intraday low of 5,919.05. Also, mixed base metal prices at London metal exchange further swayed investors sentiments.
  • On the global front, Copper prices have skyrocketed which has forced the London Metal Exchange to introduce emergency measures amid the threat of collapse.
  • At around 10:48 AM, Nifty Metal was trading at 6,049.60 down 49.75 points or 0.82% as majority stocks were in the red zone. Read More

ICICI Securities Q2 PAT rises 26% yoy to Rs351cr; Stock gains over 1%

Published on: 10:45 am

  • ICICI Securities, a part of the ICICI Group and India’s leading retail-led equity franchise, distributor of financial products, an investment bank, on Tuesday, declared all-round improvement in financial and operational performance for the quarter ending September 30, 2021 (Q2FY22) as compared to the corresponding quarter last year (Q2FY21).
  • The company reported consolidated revenue of Rs857cr in Q2FY22, against Rs680cr in Q2FY21, up 26%, aided by strong all-round performance across business segments. Consolidated Profit After Tax (PAT) for Q2FY22 stood at Rs351cr, Vs Rs278cr in Q2FY21, up 26%, on account of growth in revenue and improvement in margins. Read More

Sangam India stock hits fresh 52-week high after revenue more than doubles to Rs635cr in Q2FY22

Published on: 10:35 am

  • Sangam India Ltd. (SIL), one of the foremost producers of PV dyed yarn and seamless apparel, today announced that the company has approved the issue of up to 57 lakh warrants convertible into Equity Shares(s) of the Company of the face value of Rs.10/- each aggregating up to 103.00 Crore to the promoters group and Smt. Madhuri Madhusudan Kela.
  • The company also announced that its revenue has grown more than double from Rs311cr in Q2FY21 to Rs635cr in Q2FY22 with an increase of 104% yoy. Read More

Market pulse at 10:30 AM today

Published on: 10:30 am

  • Equity market indices are flat despite positive global cues.
  • BSE Sensex is currently 61,684.37 down 31.68 points or 0.05%.
  • Nifty50 is currently 18,426.45 up 7.70 points or 0.04%. Nifty Bank is 39,689.35 up 0.38%. Mid-cap Index is down 0.51%.
  • Bharti Airtel, State Bank of India, HCL Tech, Tata Motors, and Tech Mahindra are the top gainers. Hindalco, Eicher Motors, Coal India, and Bajaj Finserv, and Hero MotoCorp are the top losers.
  • Nifty Metal stocks tank 1.5% to lead the rout while Nifty PSU Bank stocks are 1% higher to hold the trade.
  • Out of 50 stocks traded on the BSE, 21 advanced and 29 declined. Read More

L&T Technology Services logs strong broad-based growth in Q2FY22; PAT up nearly 39% yoy

Published on: 10:27 am

  • L&T Technology Services Limited (LTTS), India’s leading pure-play engineering services company, announced its results for the second quarter ended September 30, 2021. The consolidated Profit after tax (PAT) for the Sep-21 quarter was up 38.97% at Rs230cr. The growth in profits was driven by EBIT margins growing by 470 bps overall at 18.4%. During the quarter, LTTS won a total of 5 deals with total contract value or TCS in excess of $10 million.
  • Highlights for Q2FY22 include:
  • Revenue at Rs16,077 million; growth of 22% YoY
  • USD Revenue at $217.4 million; growth of 22% YoY
  • EBIT margin at 18.4%; up 470 bps YoY
  • Net profit at Rs2,300 million; growth of 39% YoY
  • Special dividend of Rs10 per share to mark the 5-year anniversary of LTTS' IPO; Record date October 27, 2021 Read more

Important results today: Jubilant FoodWorks, Havells India, L&T Finance Holdings in focus

Published on: 10:18 am

  • Quarterly results that are expected today include Jubilant FoodWorks, Havells India, L&T Finance Holdings, Angel Broking, Arihant Superstructures, Deep Polymers, Hathway Cable & Datacom, Just Dial, Menon Bearings, Moschip Technologies.
  • Reliance Industrial Infrastructure, Rane (Madras), Shoppers Stop, Snowman Logistics, Supreme Petrochem, Suryalakshmi Cotton Mills, Syngene International, TajGVK Hotels & Resorts, Tata Communications, Tata Steel Long Products, Tejas Networks, and TT Ltd will release their quarterly earnings today. Read more

Jagsonpal Pharma Q2 PAT rises 82.3% yoy; Revenue up 5.3% yoy; Stock jumps 3%

Published on: 10:10 am

  • Jagsonpal Pharmaceuticals Ltd., a leading pharmaceutical company from Delhi, announced their Q2FY22 results in the Board Meeting held on October 19, 2021.
  • The total income of the company was at Rs598 mn, registering a growth of 5.3% yoy.  Profit after Tax stood at Rs73 mn, registering a growth of 82.3% yoy. EPS was Rs2.79 as compared to Rs1.53; a growth of 82.3%.
  • The company reported an EBITDA of Rs106 mn, up 101.3% yoy translating to an EBITDA margin of 17.7%. This was an increase in the margin of 844 bps. Read more

CarTrade Tech allots 6.91 lakh equity shares under ESOP; Stock slips 1%

Published on: 10:08 am

  • CarTrade Tech Ltd has informed that the Board of Directors of the Company on October 19, 2021, has approved allotment of 6,91,000 equity shares of face value of Rs. 10/ - each of the Company to 19 eligible Employees (including ex-Employee) upon Exercise of Options Vested under Employee Stock Option Plan 2011 and Employee Stock Option Plan 2015.
  • Consequent to this allotment, the paid-up share capital of the Company stands increased from Rs. 458,340,670/- (consisting of 45,834,067 equity shares of face value of Rs. 10 each) to Rs. 465,250,670/- (consisting of 46,525,067 equity shares of face value of Rs. 10 each), said company in a regulatory filing. Read more

Bajaj Finserv incorporates Asset Management Company; Stock trades lower

Published on: 10:02 am

  • Bajaj Finserv Limited has incorporated Asset Management Company under the name of ‘Bajaj Finserv Asset Management Limited’ on October 18, 2021, as a wholly-owned subsidiary of the company. The company acquired 5,000 equity shares of Rs10 each at a cost of Rs5 lakh.
  • Bajaj Finserv Asset Management will carry out the business of managing various Mutual Fund schemes. The company had also incorporated Bajaj Finserv Trustee Company Limited on October 12, 2021, for the same purpose. Read more

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