Live market updates

28th Oct, 2021

ABB unveils new AI-enabled corporate and business office in its Bangalore-based Peenya campus; Stoc

Published on: 5:00 pm

  • ABB India on Thursday has announced that it has moved its corporate and business office to an integrated, sustainable, and digitalized facility within its own Peenya campus in Bangalore.
  • The facility, named Disha, will house the corporate office, along with the offices of Electrification and Motion businesses alongside Process Automation business in the same campus. Located in one of the prime industrial areas of Bengaluru, the campus minimizes carbon footprint by sourcing 90 percent electricity from renewable sources; it reduces 55 percent load on potable water with intelligent fixtures and with 98 percent of its waste recycled, almost reaches its target of zero waste to landfill. Read more

ADB, India sign $100m loan for agribusiness development in Maharashtra

Published on: 4:58 pm

  • The Asian Development Bank (ADB) and the Government of India signed a $100 million loan to promote agribusiness network to boost farm incomes and reduce food losses in the State of Maharashtra.
  • Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs in the Ministry of Finance signed for the Government of India, the agreement for the Maharashtra Agribusiness Network (MAGNET) Project, while Takeo Konishi, Country Director of ADB’s India Resident Mission signed for ADB.
  • Mishra stated that the project supports agribusiness development in Maharashtra with holistic support to on-farm improvement in productivity, up-gradation of post-harvest facilities, and establishing efficient marketing structures to benefit horticulture producers. Read more

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HCL Tech launches HCL SMARTWiFi platform for communication service providers

Published on: 4:56 pm

  • HCL Technologies announced the launch of HCL SMARTWiFi, a WiFi management platform targeted to Communication Service Providers (CSPs) delivering WiFi services. HCL SMARTWiFi is a cloud-native, containerized, highly scalable platform that allows for large scale WiFi access point deployments. The platform offers far lower total cost of ownership, compared with traditional offering and includes a selection of access points from several leading WiFi access point manufacturers.
  • HCL SMARTWiFi was developed in partnership with Rakuten Mobile and is being deployed on the operator’s network across Japan. Read more

Zomato to shut down operations of Lebanon branch, Zomato Ireland

Published on: 4:54 pm

  • Zomato announced that Lebanon branch, Zomato Ireland has intimated that it will shut down operations with effect from 15, 2021.
  • Zomato said that "it may be noted further that shutting down operations of Lebanon Branch will not materially affect the turnover/revenue of the Company."
  • Further, Zomato said that Lebanon has been going through an economic crisis with a depreciating currency since the last 2 years. The situation has become worse over the past few months and as a result the business viability and future outlook for the region has deteriorated significantly. The business in fact became loss making in the quarter ended June 30, 2021." Read more

Jubilant Foodworks to acquire 35% stake in Hashtag Loyalty for Rs24.75cr

Published on: 4:49 pm

  • Jubilant Foodworks to acquire 35% stake in Hashtag Loyalty Private Limited (HLPL). The company has entered into a share subscription, shareholders and share purchase agreement with HLPL.
  • HLPL is engaged in the business of providing a platform which allows brands their own online ordering systems to accept direct orders from customers and provides an enterprise-grade omnichannel customer engagement & marketing automation platform. Read more

BCPL Railway Infra bags construction order in the Railway electrification segment

Published on: 4:40 pm

  • BCPL Railway Infrastructure Limited has informed to the stakeholders that the Company has received an order from East Coast Railway (HQ), Electrical on Thursday.
  • This order has been received for the work of “Design, supply, erection, modification, testing and commissioning of 25kV OHE for TALCHER ROAD -ANGUL in Khurda Division of East Coast Railway.” The total project cost comprises of Rs41.21 million.
  • Commenting on the same, Aparesh Nandi, Chairman said, “We at BCPL Railway Infrastructure Limited are pleased to inform our stakeholders on our recent order intake in the Khurda Division of East Coast Railway. The value of this order is Rs41.21 million and we are quite optimistic about the pipeline of orders in the coming months and in near future also. We expect to end the year on robust order book.” Read more

Birlasoft becomes Leader in 2021 ISG Provider Lens Next-Gen Application Development and Maintenance

Published on: 4:07 pm

  • Birlasoft Ltd has announced it has been named as a Leader in the Agile Development Specialists Quadrant of the 2021 ISG Provider Lens Next-Generation Application Development and Maintenance Services Report for the U.S. by Information Services Group (ISG), a leading global technology research and advisory firm.
  • The 2021 ISG Provider Lens Next-Generation Application Development and Maintenance Services Report for the U.S. highlights the current market positioning of providers of agile development in the U.S., based on depth and quality of service offerings and market presence.
  • The Agile Development Specialists quadrant in this ISG report evaluates service providers that offer agile application development based on expertise. Read more

Cosmo Ferrites standalone net profit rises 800% in Q2

Published on: 3:58 pm

  • The net profit of Cosmo Ferrites zoomed 800% to Rs3.51cr in the quarter ended September 2021 as against Rs0.39cr during the previous quarter ended September 2020. Sales rose 42.49% to Rs26.19cr in the quarter ended September 2021 as against Rs18.38cr during the previous quarter ended September 2020.
  • The stock ended at Rs160.70 up by Rs7.65 or 5% from its previous closing of Rs153.05 on the BSE.
  • During Q2FY22, Company reported net revenue growth of 42% YOY on the back of higher volumes (up by 6%), change in product mix, higher sales realisation resulting from customised solutions to customers. Better global demand leading to higher exports, higher sales realisation and improving internal efficiencies contributed to improvement in EBITDA. Read more

Adani Transmission raises USD 700M in one of Asia’s largest revolving project financing deals

Published on: 3:50 pm

  • Adani Transmission Limited (ATL), India’s largest private sector power transmission and retail distribution company, has raised USD 700 Mn for its under-construction transmission asset portfolio through the definitive agreements signed with leading international banks.
  • The revolving facility will finance ATL’s four transmission projects in Gujarat and Maharashtra.
  • “This project financing deal is the first of its kind sanctioned by international banks in the transmission sector, and validates the overall development model of the Adani Group,” said Anil Sardana, MD and CEO, ATL. Read more

Markets close lower; Banking Stocks underperformed

Published on: 3:47 pm

  • Markets witnessed a negative day of trade, with the benchmark index posting a huge selloff during the trade.
  • Bank Nifty underperformed the Nifty by 1.4% for the third consecutive trading session with both the indices closing ~3.4%/1.9% lower.
  • Banking stocks were among the top underperformers with stocks like HDFC Bank, SBI, Axis Bank & ICICI contributing to the majority of the loses along with an addition of heavy short positions during the day. Read more

Tatva Chintan Pharmachem Q2 9-fold increase in PAT Rs32.41cr

Published on: 3:47 pm

  • Tatva Chintan Pharmachem reported 105.9% growth in total revenues for the Sep-21 quarter on a consolidated basis at Rs123.62cr.
  • The revenues were higher by 15.72% on a sequential basis compared to Rs106.83cr revenues in the Jun-21 quarter. The specialty chemicals manufacturer had come out with an IPO in Jul-21.
  • The consolidated profit after tax (PAT) for the Sep-21 quarter was up to 9-fold at Rs32.41cr. Profits were up 40% compared to the profits in the sequential quarter. Read more

Meghmani Finechem PAT increased 83% yoy to Rs47cr in Q2

Published on: 3:25 pm

Meghmani Finechem (MFL) has delivered a strong operating and financial performance in line with its commitment of growth. The key performance highlights are:

OPERATIONAL HIGHLIGHTS:
  • Overall plant utilization improved 16% YoY basis to 90% in Q2FY22.
  • H2O2 Plant capacity ramped up and at 85% utilization in Q2FY22
  • In Q2FY22, Caustic Soda ECU realisation up 28%; Caustic Potash up 5% on a YoY basis Read more

Balkrishna Industries board nods allotment of NCDs for Rs500cr; Stock gains

Published on: 3:17 pm

  • Balkrishna Industries Ltd has informed that on Oct 28, 2021 the Finance Committee constituted by Board of Directors of the Company has approved the allotment of 5,000 rated, listed, unsecured, redeemable, non-convertible debentures having a face value of Rs10,00,000 each, aggregating to Rs500cr (Indian Rupees Five Hundred Crores only) to the investors.
  • Pursuant to the Board Resolution passed by Board of Directors on September 25, 2021, the Board empowered the Company's Management to opt for long term finance.
  • The Finance Committee has allotted Rated, Listed, Unsecured, Redeemable, Non-Convertible Debentures of the aggregate value of Rs. 500 Crore with a face value of Rs. 10 Lakh per debenture. Read more

Wipro appoints Kimberly Watson as Country Head and Managing Director, Canada

Published on: 3:14 pm

  • Wipro announced the appointment of Kimberly Watson as Country Head and Managing Director for Canada. Watson will focus on Wipro’s vision for business growth, localization, brand building and significant transformational and modernization engagements with clients in key sectors.
  • “I warmly welcome Kim (Kimberly) to the Wipro family. She is a respected global leader with an exemplary track record. Canada is a strategic growth market for Wipro and we have established ourselves as a partner of choice across multiple sectors. With Kim’s deep insights into the Canadian markets, we will better enable customers to be successful in their transformation journeys,” said Angan Guha, CEO, Americas 2, Wipro. Read more

Wipro bags a multi-year contract with Kerala State Co-op Bank for technology transformation

Published on: 3:12 pm

  • Wipro has secured a multi-year contract from Kerala State Co-op Bank (also known as Kerala Bank), a scheduled state co-operative bank in India, established by the Government of Kerala.
  • Sanjay Jaireth, Head - BFSI India (SRE), Wipro Limited said, “Wipro has been engaged with Kerala Bank and is providing core banking services to multiple District Co-operative Central Banks (DCCB) for many years. This extensive experience uniquely positions us to deliver this complex program which redefines customer experience while ensuring security for clients of Kerala Bank.” Read more

Wipro ties with Micro Focus to streamline legacy apps migration to Cloud

Published on: 3:11 pm

  • Wipro has announced partnership with Micro Focus to launch the Legacy Migration and Modernisation Lab collaborating with Amazon Web Services (AWS). This lab, hosted at Wipro’s AWS Launchpad in Parramatta, Australia, will allow companies in Australia and New Zealand (A/NZ) to experience hands-on demonstration of tools and accelerators that can help optimise mainframe application capabilities for the cloud.
  • "We are excited to collaborate with AWS and Micro Focus to launch this lab and enable our customers who continue to rely on legacy systems to drive core business functions, simplify, and modernise applications to the cloud. This lab will showcase our joint offerings to modernise the legacy ecosystem, help clients continually transform their expensive and monolithic platforms, and embrace the cloud as a strategic business advantage,” said Satish Wadhwa, Vice President, iDEAS, Wipro. Read more

Dishman Carbogen subsidiary completes USFDA inspection of site in Aarau, Switzerland

Published on: 3:04 pm

  • Dishman Carbogen Amcis, subsidiary Carbogen Amcis AG announces the completion of a U.S. Food and Drug Administration (FDA) inspection at the site in Aarau, Switzerland. The pre-approval FDA paper inspection for an intermediate product from a customer was conducted from 17 August - 15 September 2021.
  • By receiving the result in October 2021 the inspection was concluded successfully with no findings, confirming that no on-site inspection is required at the Aarau site for this product. Read more

LTI becomes Microsoft Azure Expert Managed services provider; Stock rallies

Published on: 3:02 pm

  • Larsen & Toubro Infotech (LTI) has become a Microsoft Azure Expert Managed Services Provider. This recognition signifies LTI’s expertise in Azure capabilities to help clients accelerate their digital transformation journey.
  • Sanjay Jalona, Chief Executive Officer and Managing Director, LTI, said: “LTI has been investing in building capabilities and strong alliance with industry-leading platform and solution providers. We are proud of our recognition as a Microsoft Azure Expert MSP. Our Microsoft Azure expertise makes us the preferred partner for customers looking to embrace cloud-based transformation.” Read more

Ramkrishna Forgings acquires an order worth Rs15cr of Fabrication Parts; Stock slips 4%

Published on: 2:59 pm

  • Ramkrishna Forgings has acquired an order worth Rs15cr to supply fabrication parts to one of the biggest players in the energy segment.
  • Lalit Khetan, Executive Director & CFO, Ramkrishna Forgings Limited said: “We have bagged another fabrication order to one of the biggest players in the energy segment strengthening our presence in non-auto sectors. This is in-line with our strategy to improve our revenue share of non-auto segment and diversify our business."
  • Khetan added, "This order is a testimony of our products quality and technical strengths in this segment. We continue to explore newer opportunities to strengthen our non-auto business.”  Read more

NBCC and HSCL hand over dividend cheques to the Minister of Housing and Urban Affairs

Published on: 2:41 pm

  • NBCC India Ltd paid a total dividend of Rs 52.24 crore to its shareholders for the Financial year 2020-21.
  • The cheque of Rs 52.24 Crore was handed over as the final dividend to the Minister of Housing and Urban Affairs Hardeep Singh Puri by Pawn Kumar Gupta, chairman and Managing Director, NBCC in the presence of Secretary MoHUA, Durga Shanker Mishra. Additional Secretary MoHUA Kamran Rizvi, Sokhey, Director (Finance) NBCC were also present on the occasion. Read more

Nifty Metal dips 3% on broad-based selloff; Adani Enterprises slips 9% after Q2; Hindustan Copper, J

Published on: 2:35 pm

  • Nifty Metal index nosedived on Thursday due to a broad-based selloff amid Q2 corporate earnings and volatility of base metal prices as energy crises become a spoilsport. On the index, only one stock was in the gains while the remaining 14 stocks declined. The index has scrapped its 5,600-mark and even tumbled to an intraday low of 5,554.65.
  • At around 2.33 pm, Nifty Metal was trading at 5,591.95 lower by 149.95 points or 2.6%.
  • APL Apollo was the only gainer soaring by 2.4%. Read more

Jindal Stainless PAT stood at Rs363cr during Q2FY22, up by 34% yoy

Published on: 2:33 pm

  • The Board of Directors of Jindal Stainless Limited (JSL) approved the unaudited financial results of the Company for Q2FY22. An overall healthy demand environment post the second wave of COVID in Q1FY22 pulled up sales volume by 8% over Q1FY22, to 256,664 tonnes in Q2FY22.
  • The upward rally in prices of input materials continued unabated throughout the second quarter. The average LME prices of Nickel and Ferro-chrome in Q2FY22 climbed by 10% and 21% respectively over Q1FY22, which had a positive impact on inventory valuation. This, along with an improved volume mix, led to a 23% increase in EBITDA in Q2FY22 over the sequential quarter. Read more

Market pulse at 2:30 PM today

Published on: 2:30 pm

  • Benchmark indices extended losses as all sectoral indices traded in the red.
  • BSE Sensex is currently 60,264.52 down 878.81 points or 1.44%.
  • Nifty50 is currently 17,939.40 down 271.55 points or 1.49%. Nifty Bank is 39,913.25 down 2.35%. Mid-cap Index is down 1.35%. Read more

TCS named Large Player in Now Tech Reports for Worldwide and Asia Pacific Digital Experience Service

Published on: 2:14 pm

  • Tata Consultancy Services has been named a large player in two reports, Forrester Now Tech: Global Digital Experience Services, Q4 2021 and Now Tech: Digital Experience Services in Asia Pacific, Q4 2021.
  • The global report provides an overview of 37 digital experience service providers. It states that, “The largest providers in the market offer services from the breadth of marketing, commerce, and experience services to the depths of technology capacity and adjacent — all in the name of helping you (enterprises) provide a world-class customer experience across all touchpoints.”
  • Further, the report cites that TCS’ most significant geographic presence by revenue is across North America, Europe, Middle East and Africa, APAC, and Latin America and that its vertical market focus is in the industries of banking, media and entertainment, and retail. Read more

IndusInd Bank Q2 PAT surges 73% yoy to Rs1,147cr; stock soars 4.5%

Published on: 2:14 pm

  • The Board of Directors of IndusInd Bank Limited approved the Bank’s results for the quarter ended September 30, 2021, at their meeting held in Mumbai on Wednesday, October 27, 2021.
  • Consolidated Net Profit for the quarter ended September 30, 2021 was Rs1,147cr as compared to Rs663cr during corresponding quarter of previous year up by 73% YoY.
  • The stock is among top gainer on the stock exchange in today’s trade. The stock is currently trading at Rs1,195.50 up by Rs53.65 or 4.7% from its previous closing of Rs1,141.85 on the BSE. The scrip opened at Rs1,169 and has touched a high and low of Rs1,241.85 and Rs1,169 respectively. Read more

Newgen strengthens mobility component of Content Services Platform; Launches OmniDocs Mobile 11.0

Published on: 1:36 pm

  • Newgen Software, global provider of digital transformation platform, has launched OmniDocs Mobile 11.0, an upgraded version of its OmniDocs mobile app.
  • The latest version of the software facilitates advanced image processing capabilities for optimized capture and compression. It offers users the ability to capture quality images under optimum size and control asset quality to optimize disk space usage. Furthermore, it utilizes the latest OS features for improved operation, usability, and user experience. The upgraded version of the OmniDocs mobile application is supported on the latest versions of Android and iOS platforms.
  • "The OmniDocs Mobile 11.0 release is all about enhanced user experience. Users can easily perform activities, such as browse, capture, upload, view, download, hold or reject, and advance search of documents from their mobile devices for convenience and flexibility. We are taking the complexity out of information, leverage cutting-edge technology to streamline content-centric business processes, and effectively manage enterprise content," said Virender Jeet, CEO, Newgen Software. Read more

Market pulse at 1:30 PM today

Published on: 1:30 pm

  • BSE Sensex is currently 60,506.87 down 636.46 points or 1.04%.
  • Nifty50 is currently 18,012.70 down 198.25 points or 1.09%. Nifty Bank is 40,253.80 down 1.52%. Mid-cap Index is down 0.74%.
  • IndusInd Bank, Larsen & Turbo, Ultratech, Asian Paints, and Maruti are the top gainers. Adani Ports, ITC, ONGC, Coal India, and Titan are the top losers. Read more

Cigniti recognized as Market Leader in Continuous Testing Specialists for US by ISG

Published on: 1:24 pm

  • Cigniti Technologies has been recognized as a market leader in continuous testing specialists for the US by Information Services Group (ISG), in its ISG Provider Lens Next-Gen Application Development and Maintenance (ADM) Services report.
  • Speaking on the occasion, Srikanth Chakkilam, CEO, Cigniti Technologies, said, “Cigniti is a leading Digital Assurance company that enables global enterprises to accelerate their digital transformation and continuously achieve their digital next. We continue to significantly invest in our IP, BlueSwan™ and enhance its capabilities, to create new IP-based solutions, such as AI-led test data management, test environment management, and security engineering. Read more

Titan's PAT quadruples to Rs641cr in Q2 led by strong recovery in demand across consumer businesses

Published on: 1:17 pm

  • Titan Company has posted a nearly four-fold jump in its consolidated net profit to Rs641cr for the quarter ending September 2021 (Q2FY22) period compared to Rs173cr in the same quarter last year. Consolidated sales jumped by 75.50% to Rs7,243cr in the quarter under review against Rs4,127cr in the corresponding period a year ago.
  • On the back of a strong recovery in demand across its consumer businesses, Titan said that its "revenue excluding bullion sales grew by 78% in Q2 FY22 compared to Q2 FY21." Read more

Asian Granito incorporates new subsidiary Amazoone Ceramics; Stock down 1%

Published on: 1:08 pm

  • Asian Granito India Limited informed the exchanges that its Material Subsidiary Company, Amazone Ceramics Limited has incorporated its Subsidiary Company named Gresart Ceramica Private Limited on October 26, 2021.
  • “This newly incorporated company will be a step-down subsidiary of our company,” the company said in a filing on Wednesday.
  • “Gresart Ceramica is incorporated with an object to undertake the business activities pertaining to Ceramic Industry,” it added. Read more

PDS Multinational in an investment agreement with Loop Digital Wardrobe; Stock slips near 1%

Published on: 12:57 pm

  • PDS Multinational Fashions-led subsidiary, Smart Notch Industrial, incorporated and registered in Hong Kong, has entered into an Investment Agreement with Loop Digital Wardrobe, a Company incorporated and registered in England and Wales.
  • LOOP Digital Wardrobe – is a sustainability and marketing solution that empowers the newest technology to have a positive impact on environmental and business performance.
  • On the latest deal, PDS said that through LOOP Digital, "we want to provide a sustainability ecosystem to our customers and end consumers." Read more

Nifty Oil & Gas sheds ~2%; ONGC, Adani Total Gas, HPCL underperform

Published on: 12:55 pm

  • Nifty Oil & Gas index shed around 2% tracking the bearish markets on Thursday. Gujarat State Petronet surged 3% higher amid the gloom while Castrol India was the only other stock in the sector to trade in the green. Remaining all the stocks listed on the index were trading lower. ONGC, Adani Total Gas, and Hindustan Petroleum dragged the most.
  • Oil prices continued to fall after industry data showed that crude oil stockpiles increased more than expected and fuel inventories soared unexpectedly last week in the United States, one of the world's largest oil consumer.
  • Brent oil futures were down 1.17%, to $83.59 a barrel at 12:45 PM after closing at the highest level in seven years on October 26. Read more

Sigachi Industries IPO set to open on Nov 01, price band of Rs161-163 per share fixed

Published on: 12:50 pm

  • Sigachi Industries initial public offering (IPO) will be available for subscription on November 01. The last date for bidding would be November 03, 2021.
  • The company plans to raise up to Rs125.43cr from the issue. The company will offer 76,95,000 Equity Shares during the IPO.
  • A price band of Rs161 to Rs163 per equity share has been fixed. Read more

KIMS Hospitals to acquire 51.07% stake in Sunshine Hospitals; Stock zooms 6%

Published on: 12:40 pm

  • KIMS Hospitals has informed the exchange regarding acquisiton in Sunshine Hospitals.
  • The Company has executed definitive agreements to acquire a majority stake (51 .07%), (as a combination of 18.52% stake through equity shares and the remainder through partly paid-up equity shares, which shall be fully paid up by April 2022 based on an agreed schedule) in Sarvejana Healthcare private Limited (herein referred to as "Sunshine Hospitals"), which own and operates hospitals in and around Hyderabad, Telangana under the brand 'Sunshine Hospitals' at an Enterprise Value of Rs7,300mn subject to working capital adjustments on the closing date. Read More

Market pulse at 12:30 PM today

Published on: 12:30 pm

  • Benchmark market indices trade deep in the red as metal and banking stocks drag the most.
  • BSE Sensex is currently 60,444.30 down 699.03 points or 1.14%.
  • Nifty50 is currently 17,987.20 down 223.75 points or 1.23%. Nifty Bank is 40,148.45 down 1.78%. Mid-cap Index is down 0.86%.
  • IndusInd Bank, Larsen & Turbo, Maruti, Ultratech Cement, and Asian Paints are the top gainers. Adani Ports, ITC, ONGC, Hindalco, Coal India, and Kotak Bank are the top losers.
  • Nifty Metal, Banking, and Financial Services stocks struggle the most in an all bearish market.
  • Out of 50 stocks traded on the BSE, 8 advanced, and 42 declined. Read more

SJS Enterprises to launch Rs800cr IPO on Nov 01 for subscription

Published on: 12:26 pm

  • SJS Enterprises will be launching its Rs800cr initial public offering on November 01 for a subscription. Investors can bid till November 03, 2021.
  • The IPO comprised of an offer for sale by Evergraph Holdings amounting to Rs710cr and Rs90cr by KA Joseph.
  • The IPO has a fixed price band of Rs531 per share to Rs542 per share.
  • The bid lot size would be 27 Equity Shares and in multiples thereof. Read More

10 things to watch out for in Paytm's RHP as the company heads closer to its mega IPO

Published on: 12:24 pm

  • Paytm, India’s leading digital ecosystem for consumers and merchants, is headed for a public market debut — a much awaited one as it is going to be the country’s largest IPO.
  • On October 22, the company received the approval from SEBI for its IPO and it has now filed the Red Herring Prospectus.
  • Here are the ten things that stand out in the company’s RHP
  • 1. Issue size increased: Paytm is headed for a Rs18,300cr IPO — the largest market debut in India yet. It had hiked its IPO issue size from the earlier Rs16,600cr as it received increased investor demand. Read More

Maruti Suzuki consolidated net profit declines 65.70% yoy in Q2FY22

Published on: 12:19 pm

  • Shares of Maruti Suzuki India soared over 2% in an otherwise weak market. The company posted a net profit of Rs486.90cr, which declined 65.70% in the quarter ended September 2021 as against Rs1419.60cr during the previous quarter ended September 2020.
  • The sales rose 9.09% to Rs19300.50cr in the quarter ended September 2021 as against Rs17691.90cr during the previous quarter ended September 2020. Read More

Artson Engineering bags order of Rs11cr; Stock sheds over 4.5%

Published on: 12:17 pm

  • Artson Engineering Ltd has informed that the Company has received order confirmation of Rs11cr (Rupees Eleven Crores Only).
  • As per regulatory filing, the company has received the project from Tata Projects Limited (TPL). The project is for Supply of Fabricated Structures for NTPC Project.
  • Time period by which the order is to be executed is 5 Months, said company. Read More

ITC Q2 consolidated PAT rises to Rs3713.76cr on strong pick-up across operating segments

Published on: 12:13 pm

  • FMCG-giant, ITC recorded a consolidated net profit (attributable to owners) of Rs3713.76cr in the second quarter ending September 2021 (Q2FY22). The company's latest Q2 PAT numbers were higher from Rs3413.44cr of Q2FY21 and Rs3344.15cr of Q1FY22.
  • Meanwhile, revenue from operations stood at Rs14844.38cr in Q2FY22, rising from Rs13147.81cr of Q2FY21 and Rs14240.76cr in Q1FY22.
  • The earnings were healthy after strong pick-up across all operating segments after severe disruptions in Q1. Read More

Cummins India sales increase 48% yoy to Rs1,689cr; Stock trades higher

Published on: 12:12 pm

  • Cummins India Limited's total sales for the quarter ended September 30, 2021, stood at Rs1,689cr increased by 48% compared to the same quarter last year and 45% compared to the preceding quarter. Domestic sales at Rs1,250cr improved by 68% compared to the same quarter last year and by 46% as compared to the preceding quarter.
  • Exports Sales stood at Rs439cr, improved by 10% as compared to the same quarter last year and improved by 43% as compared to the preceding quarter. Read More

Exxaro Tiles board nods incorporation of wholly-owned subsidiary; Stock dips

Published on: 12:02 pm

  • Exxaro Tiles Ltd has informed that the Board of Directors have approved incorporation of a wholly owned subsidiary of the company.
  • The incorporation of the wholly owned subsidiary will leverage the growth opportunities in the evolving mobility space and will help the Company in becoming more agile and customer-focused, said company in a regulatory filing.
  • Further, the name of the subsidiary is Exxaro Ceramic Limited, or any other names as may be approved by Ministry of Corporate Affairs. The Proposed Authorized Capital is Rs1,00,000 (Rupees one lakh only). Read More

Nifty Bank sheds over 500 points; PSU Bank Index drops 3%; IndusInd Bank surges 5% post Q2 earnings

Published on: 12:00 pm

  • Nifty Bank was under pressure on Thursday amid bearish markets, tracking weak global cues and ahead of F&O expiry. The Index ended a four-day record-breaking spree on Wednesday by falling into the negative zone and continued to fall on Thursday. PSU Bank stocks down 3%, were the worst sufferers.
  • Many stocks have witnessed corrections and investors keep watching the quarterly earnings. IndusInd Bank rose on Q2 earnings while Bandhan Bank was the only other banking stock to trade with positive bias. State-owned Punjab National Bank sank 10% post Q2 earnings. Read more

Policybazaar IPO to open on Nov 01 at a price band of Rs940-980 per equity share

Published on: 11:48 am

  • PB Fintech who operates online insurance aggregator Policybazaar is set to launch its initial public offering (IPO) next week. Policybazaar IPO is among the most-awaited issue in the primary market.
  • The IPO will be launched on November 01 and will be available for subscription till November 03.
  • The IPO comprised of a fresh issue to the tune of Rs3,750cr along with an offer for sale (OFS) by existing promoters and shareholders aggregating to Rs1959.72cr. Read More

Trigyn Tech stock surges 3.5% after winning contract by New York Power Authority

Published on: 11:40 am

  • Trigyn Technologies Ltd has informed that the wholly owned subsidiary of the Company Trigyn Technologies, Inc., has been awarded a contract by the New York Power Authority (NYPA) to provide authority-wide contingent staffing.
  • The award is for a period of five (5) years (October 20, 2021 to October 19, 2026).
  • The Power Authority is the largest state public power organization in the United States, operating 16 generating facilities and more than 1,400 circuit-miles of transmission lines. Its main administrative offices are in White Plains, NY. NYPA uses no tax money or state credit, financing its operations through the sale of bonds and revenues earned in large part through sales of  electricity. Read more

Lupin logs a Q2 consolidated net loss of Rs2,094.9cr, remains focused on ramping-up revenues in US m

Published on: 11:31 am

  • Pharma-company, Lupin logged a consolidated net loss of Rs2,094.9cr in the quarter ending September 2021 (Q2FY22) period. The company had posted a profit of Rs213.1cr in Q2FY21 and Rs548cr in Q1FY22.
  • The company's total revenue from operations was at Rs4,091.3cr in Q2FY22 rising by 6.7% yoy but declining by 4.2% sequentially. In the quarter, sales stood at Rs4,003.4cr increasing by 5.9% yoy but lower by 5.5% qoq.
  • On a geographical basis, Lupin’s North America sales for Q2 FY2022 were Rs1,429.1cr, up 7.2% compared to Rs1,333cr in Q1 FY2022, up 2.2% as compared to Rs1,398.4cr in Q2 FY2021; accounting for 36% of Lupin’s global sales. Meanwhile, Lupin’s Growth Markets registered sales of Rs349cr for Q2 FY2022, up 4.9% compared to Rs3,328 mn for Q FY2022, up 19.6% as  compared to Rs291.8cr in Q2 FY2021; accounting for 9% of Lupin’s global sales. Read more

Market pulse at 11:30 AM today

Published on: 11:30 am

  • Indices fall further with Metal and PSU Bank stocks struggling the most.
  • BSE Sensex is at 60,618.75 down 524.58 points or 0.86%.
  • Nifty50 is at 18,035.25 down 175.70 points or 0.96%. Nifty Bank is 40,229.40 down 1.58%. Mid-cap Index is down 0.74%.
  • IndusInd Bank, Larsen & Turbo, Maruti, Ultratech Cement, and Divis Lab are the top gainers. Adani Ports, ONGC, Hindalco, ITC, and Coal India are the top losers.
  • Nifty Metal and PSU Bank stocks struggle the most in an all bearish market.
  • Out of 50 stocks traded on the BSE, 10 advanced, 38 declined and 2 unchanged. Read more

Praj Industries Q2 PAT jumps to Rs33.34cr; Stock climbs over 1%

Published on: 11:23 am

  • Praj Industries stocks in focus as it has announced its unaudited financial results for the quarter ended September 30, 2021.
  • Performance Review for Q2 FY22 - Consolidated:
  • Income from operations stood at Rs532.41cr (Q1 FY22: Rs386.26cr; Q2 FY21: Rs260.24cr)
  • PBT is at Rs46.77cr for the period (Q1 FY22: Rs29.80cr; Q2 FY21: Rs15.67cr)
  • PAT is at Rs33.34cr (Q1 FY22: Rs22.20cr; Q2 FY21: Rs11.39)
  • Order intake during the quarter Rs745cr (Q1 FY22: Rs661cr; Q2 FY21: Rs405cr) Read More

Bajaj Finserv, Indigo, NTPC, DLF, Marico, Tata Power are among key earnings to watch today

Published on: 11:15 am

  • Indian markets were under pressure on Thursday as major companies line up to present their September 2021 (Q2FY22) earnings. These quarterly results are gauged on the back of the second wave of the Coronavirus pandemic that had slowed down business activities, however, financial numbers are expected to be still better than the impact caused by the first wave.
  • A total of 149 companies are set to announce their Q2 today. These companies belong from various sectors such as banking, power, metal, aviation and energy among others.
  • On a year-on-year basis, the performance of these companies is expected to improve, however, the numbers could be volatile sequentially varying from sector and company. Read More

KEC International Q2 PAT declines to Rs113cr; Stocks slumps ~5%

Published on: 11:13 am

  • KEC International Ltd., a global infrastructure EPC major, and an RPG Group Company, on Wednesday announced its results for the second quarter (Q2FY22) and half year (H1FY22) ended September 30, 2021.
  • The company’s revenue increased to Rs3,587cr in Q2FY22 against Rs3,258cr in Q2FY21. Revenue for H1FY22 rose to Rs6,127cr against Rs5,464cr in H1FY21.
  • EBITDA for Q2FY22 was at Rs253cr against Rs293cr in Q2FY21. EBITDA Margin: 7.1% against 9.0%. For H1FY22, EBITDA was at Rs413cr against Rs488cr in H1FY21. EBITDA Margin: 6.7% against 8.9%. Read more

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