Live market updates

01st Nov, 2021

10 things to know about PB Fintech Limited

Published on: 5:41 pm

Below are the 10 things to know more about PB Fintech Limited.
  1. PB Fintech Limited has built India’s largest online platform for insurance and lending products leveraging the power of technology, data and innovation, according to Frost & Sullivan.
  2. Company provides convenient access to insurance, credit and other financial products and aim to create awareness amongst Indian households about the financial impact of death, disease and damage. Read more

Rossari Biotech consolidated net profit rises 26.71% in Q2FY22

Published on: 5:36 pm

  • Rossari Biotech Limited (Rossari), a Speciality-Chemicals manufacturer providing intelligent and sustainable solutions for customers across industries, has announced its financial results for the quarter and half-year ended September 30, 2021.
  • Net profit of the company rose 26.71% to Rs26.23cr in the quarter ended September 2021 as against Rs20.70cr during the previous quarter ended September 2020.
  • The company’s sales also increased 123.99% to Rs384.52cr in the quarter ended September 2021 as against Rs171.67cr during the previous quarter ended September 2020. Read more

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SML ISUZU sales rise 28% yoy in Oct; Stock ends higher

Published on: 5:31 pm

  • SML ISUZU registered a 28% growth in total sales to 743 units in October 2021, compared to 582 units in the same month a year ago.
  • On segment-wise, in October 2021, the company's passenger vehicles sales stood at 106 units down 24% yoy. While cargo vehicles sales were at 637 units rising by 44% yoy. Read more

Sun Pharma announces availability of WINLEVI cream 1% in the US; Stock settles 2% up

Published on: 5:20 pm

  • Sun Pharmaceutical Industries on Monday announced the availability of WINLEVI (clascoterone) cream 1% in the United States (U.S). A first-in-class topical androgen receptor inhibitor, WINLEVI was approved by the U.S. Food and Drug Administration (FDA) in August 2020 for the topical treatment of acne vulgaris in patients 12 years of age and older.
  • “The U.S. launch of WINLEVI enhances Sun Pharma’s specialty product portfolio and reflects our commitment to meeting patients’ needs by providing innovative dermatology medicines,” said Abhay Gandhi, CEO, North America of Sun Pharma. “With its safety and tolerability profile, combined with its demonstrated efficacy in clinical trials, WINLEVI has the potential to be an important topical treatment option for the millions of Americans affected by acne vulgaris.” Read more

Steel Strips Wheels garners net turnover of Rs300.6cr in October rising by 71% yoy; Stock ends 3% hi

Published on: 5:13 pm

  • Steel Strips Wheels garnered a net turnover of Rs300.58cr in October 2021 compared to Rs175.29cr in the same month last year - registering a growth of 71.41% yoy.
  • The company's gross turnover was at Rs355.73cr in October this year - increasing by 65.83% from Rs214.64cr a year ago the same month.
  • On segment-wise performance, in October 2021, the company's exports recorded 189% yoy growth. Truck sales grew by 109% yoy. Read More

Bajaj Auto sales drop 14% yoy to 4,39,615 units in Oct 2021

Published on: 5:02 pm

  • Bajaj Auto registered a total sales of 4,39,615  units in October 2021, declining by 14% from 5,12,038  units in the same month a year ago. Sales were dragged by a drop in the two-wheelers segment, however, commercial vehicles demand improved further.
  • In total, domestic sales stood at 2,18,565 units declining by 22% yoy in October 2021, while exports were at 2,21,050  units down 4% yoy.
  • 2-wheelers sales stood at 3,91,303 units in the month under review, contracting by 17% yoy. On the contrary, commercial vehicles sales rose by 16% yoy in October this year to 48,312 units. Read More

Airtel rolls out #5GforBusiness to demonstrate 5G use cases for enterprises

Published on: 5:00 pm

  • Bharti Airtel (“Airtel”), India’s premier communications solutions provider, has rolled out #5GforBusiness initiative to demonstrate a wide range of enterprise grade use cases using high speed & low latency networks.
  • As part of #5GforBusiness, Airtel is joining forces with leading global consulting and technology companies such as Accenture, AWS, CISCO, Ericsson, Google Cloud, Nokia, Tata Consultancy Services (TCS) to work with industry leading brands such as Apollo Hospitals, Flipkart and several leading manufacturing companies to test 5G based solutions. Read More

VST Tillers sales of tractors and power tillers drop in Oct 2021; Stock ends 2% down

Published on: 4:53 pm

  • V.S.T Tillers Tractors posted sales of 996 tractors in October 2021, declining from 1139 units in the same month last year.
  • The company sold 5369 tractors year-to-date compared to 5656 units in the corresponding period of the previous year.
  • Meanwhile, the company's power tillers sales stood at 1820 units in October 2021, against 2310 units sold in October last year. Read More

Vedavaag Systems launches computerization of Primary Agricultural Cooperative Societies at Dehradun

Published on: 4:35 pm

  • Vedavaag Systems Ltd has informed that Union Minister for Home Affairs and Cooperation, Amit Shah has launched the computerization of Primary Agricultural Cooperative Societies (PACS), at Dehradun, Uttarakhand on October 30, 2021.
  • VSL Data Systems Private Limited, a 100% owned subsidiary of Vedavaag Systems Limited, as an implementation partner for Intellect Informatics Private Limited, Hyderabad has executed the work of computerization of all the PACS (Primary Agricultural Credit Society) of Uttarakhand. Read more

Policybazaar IPO witness 26% subscription on Day 1

Published on: 4:34 pm

  • PB Fintech, which owns Policybazaar and Paisabazaar platforms has seen a subscription of 26% on day 1. It has received bids for 90.85 lakh equity shares against an offer size of 3.45 crore equity shares, as per exchange data.
  • Retail category got 0.97 times bids and Qualified Institutional Buyers(QIBs) bid for 0.16x of category on offer.
  • 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. Read more

India Pesticides Q2 net profit at Rs421 mn; revenue of Rs1,823 mn

Published on: 4:30 pm

  • India Pesticides Limited, One of the fastest-growing agrochemical companies in terms of volume of Technical manufacturing, on Sunday announced its results for the quarter and period ending September 30, 2021.
  • The company reported revenue of Rs1,823 mn in Q2FY22; Gross Margins Improved by +158bps to 55.2% yoy. EBITDA of Rs587 mn; Margins expanded by +124bps to 32.2% yoy. Net Profit Rs421 mn; Margins improved by +124bps to 23.1% yoy. Read more

TVS Motor launches Naked Street Design 'TVS Raider' motorcycle in Nepal for the Gen Z

Published on: 4:09 pm

  • TVS Motor Company, a reputed manufacturer of two-wheelers and three-wheelers in the world, today announced the launch of the feature-rich offering in the 125cc segment TVS Raider for the aspirational young customers in Nepal. The distinctly young and sporty motorcycle comes with first-in-class features such as an LCD digital speedometer, 3V iTouch Start, animalistic LED headlamp and first-in-segment under-seat storage.
  • Speaking on the occasion, Mr. R Dilip, President – International Business, TVS Motor Company, said, “For our millennial and digitally native Gen Z customers, we have consistently introduced products with best-in-class features and technology. To further build on the excitement and aspiration of the new-age customers, we are launching the 125cc TVS Raider in Nepal. Nepal has always been a key market for us, and it gives me the utmost pleasure to bring our new offering to the youth here. I am certain that our young customers would appreciate the distinctive ride character of the TVS Raider.” Read more

Bank of Baroda to raise Rs3,000cr through issuance of bonds; Stock ends higher

Published on: 4:02 pm

  • Bank of Baroda has approved the issuance of AT1 and AT11 bonds worth Rs3000cr.
  • “Capital Raising Committee of our Bank has today approved the issuance of Basel III Compliant Additional Tier 1 (AT1) / Tier II Bonds for an aggregate total issue size of Rs3000cr in single or multiple tranches,” the bank said in a filing on Monday.
  • Bank of Baroda ended at Rs99.05 per piece up by Rs1.55 or 1.59% from its previous closing of Rs97.50 per piece on the BSE. Read more

Shilpa Medicare enters Phase I Clinical Trial for its New Biological Entity, recombinant Human Album

Published on: 3:57 pm

  • Shilpa Medicare Limited (SML), via its wholly-owned subsidiary, Shilpa Biologicals Pvt Ltd (SBPL), has been permitted to conduct a Phase I human clinical study on its flagship novel product – recombinant Human Albumin (NavAlbumin), by the Central Drugs Standard Control Organisation (CDSCO).
  • In the filing, the product is a synthetically developed product as compared to the current process of drawing the same from blood plasma and is backed by a granted global patent. It is designated a “New Biological Entity” and is amongst the first indigenously developed novel molecules entering clinical studies - a significant milestone for the company and potentially large impact for the nation. Read more

RattanIndia backed Revolt opens EV dealership in Surat

Published on: 3:55 pm

  • RattanIndia backed Revolt, India’s market leader in electric motorcycles is pleased to announce opening of its dealership in Surat. The dealership is company’s fourteenth experience centre and second in Gujarat. With this dealership in Surat, the company’s dealerships are now present in nine cities across seven states in the country.
  • This will cater to customers for sales, services and spare in the region. Jenender Anand, CEO of Revolt Motors inaugurated the dealership Store. With this new dealership in Surat, Revolt is looking to accelerate the sales in Gujarat, given that the state government is implementing its EV Policy which offers additional subsidy of up to Rs20,000 which makes the RV 400 motorcycle more affordable and will accelerate EV adoption in the state. Read more

Kalpataru Power Transmission PAT drops 40% to Rs83cr in Q2FY22 due to credit loss provision

Published on: 3:48 pm

  • Kalpataru Power Transmission Limited (KPTL), a leading global infrastructure EPC company, announced its results Saturday for the first quarter ended September 30, 2021.
  • The company’s revenue grew by 17% yoy to Rs3,549cr on account of robust execution across various businesses. EBITDA of Rs303cr in Q2FY22 with margin of 8.5%. EBITDA margin impacted due to increase in commodity prices and higher freight cost, company said in a filing. Read More

Markets closed higher, Banking Stocks outperformed

Published on: 3:34 pm

  • Markets witnessed a positive day of trade, with the benchmark index a strong recovery during the closing part of the trade.
  • Bank Nifty outperformed the Nifty by 0.15% with both the indices closing ~1.6%/1.45% higher.
  • Banking stocks were among the top outperformers with stocks like HDFC Bank & Kotak Bank contributing majority of the gains along with an addition of long positions during the day. Nifty Midcap 100 index closed ~2% higer. Read More

Escorts tractors sale drops to 13,514 units in Oct 2021, inflation puts pressure on margins

Published on: 3:27 pm

  • Escorts-led Agri Machinery products segment (EAM) sold 13,514 tractors in October 2021, as against 13,664 tractors sold in October 2020, a drop of 1.1% year-on-year and growth of 53.3% on a month-on-month basis.
  • Domestic tractor sales in October 2021 was at 12,749 tractors as against 13,180 tractors in October 2020.
  • Export tractor sales in October 2021 was at 765 tractors against 484 tractors sold in October 2020, registering a growth of 58.1%. Read more

Aditya Vision opens 75th showroom in Bihar; Stock sheds near 2%

Published on: 3:22 pm

  • Aditya Vision Ltd has informed to the exchange regarding opening of a new showroom.
  • In a regulatory filing, the company said, "We wish to inform that the Company has opened its 75th Showroom at Sameer Complex, Nawada NH-28, Dalsinghsarai-848114, Bihar."
  • Aditya Vision Limited is engaged into retail business of consumer electronics, home appliances, camera and mobile phones.
  • The Company is a multi-brand, multi-product retail chain, which stocks a range of consumer durables, right from air conditioners, televisions, washing machines, refrigerators, microwaves, home theatre systems, mobile phones and small home appliances. Read  More

Transport Corporation of India hits record high after ICRA reaffirms A1+ credit rating for its CP Pr

Published on: 3:22 pm

  • ICRA Ltd. has reaffirmed the credit rating for the Rs225cr Commercial Paper (CP) Programme of Transport Corporation of India Limited as “A1+”.
  • “We confirm that the short-term rating of ICRA A1+ assigned to your captioned programme and last communicated to you vide our letter dated October 25, 2021 stands. Instruments with an ICRA A1+ rating indicate a very strong degree of safety regarding timely payment of financial obligations. Such instruments carry the lowest credit risk,” the company shared ICRA’s rating rationale.
  • Towards close of trade on Monday, Transport Corporation of India Ltd was trading at Rs690.80 per piece up by Rs61.15 or 9.71% from its previous closing of Rs629.65 per piece on the BSE. Read More

JSW Steel US-based arm begins Phase II upgrade of Plate Mill facility in Texas; Stock surges 3%

Published on: 3:18 pm

  • JSW Steel, subsidiary, JSW Steel (USA) has commenced the second phase of the project to upgrade its Plate Mill facility located at Baytown in Texas, USA. The Phase II project begins today and is expected to be completed in the second half of 2023.
  • This is a part of JSW  USA’s commitment to growing its steel manufacturing operations in Baytown. This project involves the addition of a 4-Hi Finishing Mill, Pre-Leveler, Accelerated Cooling System/Direct Quench (ACC/DQ), Cooling Beds & new Roll Shop. Read More

IndiGo expands regional presence, commences 6 new flights from Indore

Published on: 3:13 pm

  • In-line with its vision to strengthen regional connectivity, IndiGo, India’s leading carrier, commenced its new direct flights from Indore to Prayagraj, Jodhpur, and Surat, effective October 31, 2021. The new route was inaugurated today with lamp lighting at the Indore airport as well as Ministry of Civil Aviation in New Delhi.
  • The ceremony was graced by Honourable Union Minister for Civil Aviation – Jyotiraditya Scindia (virtually), Honourable Chief Minister of Madhya Pradesh - Shivraj Singh Chouhan (virtually-TBC), and other eminent dignitaries from Indore at the airport. The addition of routes from Indore is a part of IndiGo’s strategy to enhance connectivity to central India. Read more

BPCL plans to raise Rs3,000cr through private placement of NCDs; Stock up 1%

Published on: 3:07 pm

  • Bharat Petroleum Corporation Limited (BPCL) is planning to raise up to Rs3,000cr during the current financial year 2021-22 through private placement of unsecured non-convertible debentures subject to market conditions.
  • The debentures are proposed to be listed on the Debt Market segment of the BSE and NSE.
  • “The details of the issue viz., class of investors, issue price, tenor, interest rate, etc. will depend on the market conditions which will be intimated on the crystallization of the issue,” the company said in a filing. Read More

Oberoi Realty bags gross bookings of Rs787cr in the Elysian project since launch; Stock skyrockets 6

Published on: 3:05 pm

  • Oberoi Realty newly launched tower in the Elysian project at Oberoi Garden City, Goregaon, has recorded a gross booking value of Rs787cr for 3.90 Lakh sq. ft. to date. The Elysian project was launched on October 28, 2021.
  • With this, the cumulative gross booking value from 1st January 2021 till date in Oberoi Garden City stood at Rs2,705cr. Read More

Aditya Birla Capital consolidated net profit at Rs377cr, up 43% yoy

Published on: 3:00 pm

  • Aditya Birla Capital Ltd has reported stellar earnings for the second quarter of FY22. The Consolidated Revenue of the Company for Q2 FY22 grew 22%, year on year, to Rs5,961cr. The consolidated profit after tax (after minority interest) grew 43% year on year, to Rs377cr, the highest level ever recorded by the company. The Company, through its subsidiaries, continues to maintain its track record of delivering strong performance through market and macroeconomic cycles, backed by its diversified business model.
  • Key Highlights:
  • §  Consolidated Revenue at Rs. 5,961 Crore (up 22% year on year)
  • §  Consolidated Net Profit at Rs. 377 Crore (up 43% year on year)
  • §  Delivered highest ever consolidated quarterly profit with strong growth across businesses Read more

Zota Healthcare opens 12 Davaindia stores at Indian Oil petrol pumps as pilot project; Stock soars o

Published on: 2:56 pm

  • Zota Healthcare has announced the opening of 12 Davaindia stores at Indian Oil Corporation (IOCL) petrol pumps in Delhi as the pilot project by Davaindia Health Mart, a wholly-owned subsidiary of the company.
  • To contribute to the cause of increasing awareness for generic medicines in India, Davaindia will operate its stores at the Indian Oil in Delhi.
  • Davaindia' generic medicines offer a comparative cost-benefit of up to 90% on its generic medicines which is a significant saving on medicine cost and hence since its launch at the end of 2017, Davaindia generic pharmacy has instituted more than 650 retail pharmacies with 3.5 million happy customers across the length and breadth of India. Read more

Maruti Suzuki reports sales of 138,335 units in October 2021; Stock rises 2%

Published on: 2:38 pm

  • Maruti Suzuki India Limited posted total sales of 138,335 units in October 2021. The sales were lower compared to total sales of 182,448 during October 2020.
  • Total sales in the month (October 2021) include domestic sales of 112,788 units, sales to other OEM of 4,225 units, and its highest-ever monthly exports of 21,322 units, the company said in a filing on Monday.
  • “While the shortage of electronic components continued to affect the production of vehicles during the month, the Company took all possible measures to minimize the impact. Accordingly, the Company sold more vehicles than the sales volume expected at the start of the month,” it said. Read More

Indrayani Biotech gains 5% on receipt of work order from TNPL

Published on: 2:35 pm

  • Indrayani Biotech Ltd has informed that the Company has bagged an order from TNPL (Tamilnadu Newsprint and Papers Ltd) for preparation and supply of food items to operating Industrial canteen at TNPL Unit-1 at Kagithapuram for the year 2021-22.
  • The order is worth of Rs6.69cr p.a.
  • In a regulatory filing, the company said, "It is pleased to take up the order and extending its best of services and operations across the industrial catering & services under the brand “A-Diet”. Read more

G20 has delivered a strong message of recovery from the Pandemic: Goyal

Published on: 2:32 pm

  • Minister for Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal said that India will continue to be a voice for the common citizen of developing countries and emerging market economies in the G20.
  • He was briefing the media on the outcomes of Prime Minister, Narendra Modi’s participation in the recently concluded 16th G20 Summit, in Italy today. Read More

Market pulse at 2:30 PM today

Published on: 2:30 pm

  • Indices are at day’s high with a surge in banking and financial service stocks; Sensex reclaims 60k, Nifty nears 18k.
  • BSE Sensex is currently 60,144.57 up 837.64 points or 1.41%.
  • Nifty50 is currently 17,929.15 up 257.50 points or 1.46%.
  • Nifty Bank is 39,737.55 up 1.59%. Mid-cap Index is up 1.72%.
  • IndusInd Bank, Hindalco, Grasim, Bharti Airtel, and HCL Tech are the top gainers. UPL, Bajaj Finserv, M&M, Reliance, and ICICI Bank are the top losers.
  • Nifty Metal, IT, and Realty stocks drive Monday’s trade while financial services also rise to give further impetus to the market.
  • Out of 50 stocks traded on the BSE, 46 advanced, and 4 declined. Read More

Nifty Metal jumps 3% on broad-based buying; SAIL top gainer after Q2; NALCO, Hindalco add to winning

Published on: 2:24 pm

  • The Nifty Metal index was in the fast lane on Monday amid major quarter earnings and monthly production. The index defied weakness in copper prices globally as concerns over weaker demand on the back of power crises in Asia and Europe. The index was among the major contributors to the bull run on benchmarks Sensex and Nifty 50.
  • At around 2.14 pm, Nifty Metal was trading at 5,713.05 higher by 149.65 points or 2.7%. The index has touched an intraday high of 5,733.95. A broad-based buying was recorded across stocks except for three scrips that were on the decline side. Read more

Indian Oil's consolidated net profit rises 2.95% yoy in Q2; GRM at $6.57 per barrel

Published on: 2:18 pm

  • Shares of Indian Oil Corporation (IOC) was up over 1.4% in the afternoon deal on Monday’s trade. The net profit of Indian Oil Corporation (IOC) was up 2.95% to Rs6203.74cr in the quarter ended September 2021 as against Rs6025.81cr during the previous quarter ended September 2020. Sales rose 63.02% to Rs133202.17cr in the quarter ended September 2021 as against Rs81708.88cr during the previous quarter ended September 2020.
  • Average Gross Refining Margin (GRM) for the period April - September 2021 is $6.57 per bbl (April - September 2020: $3.46 per bbl). The core GRM or the current price GRM for the period April- September 2021 after offsetting inventory loss/ gain comes to $3.47 per bbl, IOC said in the release. Read more

Neogen Chemicals surges 4% after reporting strong gains in Q2

Published on: 2:10 pm

  • Neogen Chemicals Limited (Neogen) demonstrated strong performance during the quarter and the half-year ending September 30, 2021. The company recorded accelerated revenue momentum amounting to Rs113.2cr in Q2FY22, as compared to Rs82cr in the corresponding quarter last year, higher by 38%. This was steered by higher capacity utilization led by a positive contribution from Phase I expansion.
  • "Enhanced EBITDA performance was achieved due to better utilization of plants post Phase I expansion," the company said in a filing. Read More

India's fiscal deficit reaches 4-year low to Rs5.26 lakh cr in Q2FY22

Published on: 2:06 pm

  • For the quarter of September 2021 (Q2FY22), India's fiscal deficit has touched a four-year low to Rs5.26 lakh cr supported by buoyant tax revenues. With that, the country's fiscal deficit has reached 35% of the budget estimates in the first half of fiscal FY22.
  • Last year, in the same quarter, India's fiscal deficit was at Rs9.1 lakh cr - representing 114.8% of budget estimates.
  • Notably, H1 fiscal deficit was even lower to Rs6.5 lakh cr than the pre-Covid level of H1FY20. Read more

Ashok Leyland reports 11% yoy growth in sales to 11,079 units in Oct 2021

Published on: 1:46 pm

  • Ashok Leyland Ltd has informed to the exchange on Monday that it reported a total sales stood at 11,079 units in October as against 9,989 units in the last year, registering a growth of 11%.
  • Further, the company recorded a 13% growth in domestic vehicle sales at 10,043 units in October. It had sold 8,885 units in the domestic market in the same month last year.
  • Medium and heavy commercial vehicle (M&HCV) sales in the domestic market were up 32% at 6,078 units last month as compared to 4,588 units in the last year, the company said in a regulatory filing. Read More

TCS partners with Celcom for large-scale digital transformation; Stock soars 1%

Published on: 1:35 pm

  • Tata Consultancy Services has been expanding its partnership with Celcom Axiata Berhad (Celcom), a leading telecommunications provider in Malaysia, to transform the latter’s core business support systems (BSS) using TCS HOBS and TCS TwinX hosted on Microsoft Azure.
  • With the new core platforms transformation project, TCS will enable Celcom to further enhance its digital and platform positioning through advanced digital capabilities like AI/ML-driven business simulations, an enterprise product catalogue, and partner ecosystem enablement. Read more

Paytm to launch Rs18,300cr IPO on Nov 08, India's biggest public offering to date

Published on: 1:31 pm

  • India's biggest IPO is around the corner! One 97 Communications, the parent company of India's leading digital financial services company, Paytm, will be launching its initial public offering (IPO) of Rs18,300cr on November 08, 2021.  The issue will be available till November 10, 2021.
  • Paytm's fundraising plan from the IPO is the biggest ever to date in India. The company's IPO comprised of Rs8,300cr fresh issue and offer for sale up to Rs10,000cr.
  • The OFS will be carried by promoters like founder Vijay Shekhar Sharma, Antfin (Netherlands) Holding B.V, Alibaba.Com Singapore E-commerce, Elevation Capital V FII Holdings, Elevation Capital V Limited, SAIF III Mauritius Company, SAIF Partners Capital India IV, SVF Panther and BH International Holdings among others. Read more

Market pulse at 1:30 PM today

Published on: 1:30 pm

  • BSE Sensex is at 59,705.51 up 398.58 points or 0.67%.
  • Nifty50 is at 17,813.00 up 141.35 points or 0.8%. Nifty Bank is 39,424.55 up 0.79%. Mid-cap Index is up 1.28%.
  • IndusInd Bank, Bharti Airtel, Grasim, Hindalco, and Dr. Reddy are the top gainers. UPL, Bajaj Finserv, M&M, Hindustan Unilever, and Reliance are the top losers.
  • Nifty Metal, IT, and Realty stocks drive Monday’s trade while financial services, PSU Bank stocks are at the bottom around 0.3% higher.    
  • Out of 50 stocks traded on the BSE, 42 advanced, and 8 declined. Read more

Devyani International Q2 revenue increases 124% yoy to Rs516cr; Stock gains 2.5%

Published on: 1:25 pm

  • Devyani International Limited (DIL), a multi-dimensional comprehensive QSR player in India, has announced its financial results for the quarter and half-year ended September 30, 2021.
  • Performance Review for Q2 FY22 vs. Q2 FY21
  • Revenue from operations grew by 124% yoy to Rs516.1cr
  • EBITDA increases to Rs123.3cr
  • EBITDA margins improves to 23.9%
  • PAT at Rs46.6cr as against a loss of Rs65.5cr
  • Performance Review for H1 FY22 vs. H1 FY21 Read more

Nifty Pharma gains 1% amid bullish markets; Dr Reddy's, Lupin and Alkem Lab in the fast lane

Published on: 1:05 pm

  • Nifty Pharma stocks traded higher amid upbeat markets on Monday. The Index gained 1% with Dr. Reddy’s Laboratories, Alkem Lab, and Lupin in the fast lane. Laurus Labs dragged 4%.
  • Nifty Pharma was trading at 14,013.60 up 134.25 points or 0.97%, touching a high of 14,024.80 and low of 13,830.15 during intraday trade on Monday.
  • Alkem Lab led the gains at Rs3,725.00 per piece, up 3.17%.  Read more

Bandhan Bank appointed as RBI's Agency Bank

Published on: 12:49 pm

  • The Reserve Bank of India (RBI) has authorised Bandhan Bank as an Agency Bank of the RBI for undertaking Government business.
  • The appointment would allow Bandhan Bank, one of India’s youngest universal Banks with inclusive banking at its core, to undertake Government business on behalf of the RBI.
  • With this, Bandhan Bank joins ranks with a few other scheduled private sector banks to be empanelled as Agency Banks of the RBI. Read more

CARE withdraws rating assigned to bank facilities of JSW Power Trading; Stock slips 1.5%

Published on: 12:40 pm

  • CARE Ratings Limited has withdrawn their ratings assigned to the banking facilities of JSW Energy Limited’s subsidiary ‘JSW Power Trading Company Limited’.
  • “CARE has withdrawn the rating assigned to the non-fund based bank facility of JSW Power Trading Company Limited with immediate effect, as the company has surrendered the aforementioned bank facility and there is no amount outstanding under the issue as of date,” the company shared CARE Rating rationale. Read more

SAIL declares consolidated net profit of Rs4339cr in Q2 FY22; stock zooms 10%

Published on: 12:37 pm

  • Steel Authority of India Limited (SAIL) declared the financial results of the company for the second quarter (July – Sep’21) and H1 (Apr – Sep’21) of this financial year (FY 2021-22).
  • The consolidated profit after tax (PAT) for the Sep-21 quarter was up nearly 10-fold at Rs892.91cr on the back of a spike in the top line. Profits were also higher by 11.34% on a sequential basis.
  • The company reported 58.51% growth in total revenues for the Sep-21 quarter on a consolidated basis at Rs26,828cr. The revenues were higher by 29.96% on a sequential basis compared to Rs20,643cr revenues in the Jun-21 quarter. Read More

Market pulse at 12:30 PM today

Published on: 12:30 pm

  • Benchmark market indices are bullish with Metal and Realty stocks in the lead.
  • BSE Sensex is currently 59,640.85 up 333.92 points or 0.56%.
  • Nifty50 is currently 17,791.45 up 119.80 points or 0.68%. Nifty Bank is 39,374.10 up 0.66%. Mid-cap Index is up 1.09%.
  • IndusInd Bank, Bharti Airtel, Tata Steel, Hindalco, and HCL Tech are the top gainers. UPL, Bajaj Finserv, M&M, Hindustan Unilever, and Reliance are the top losers.
  • Nifty Metal, IT, and Realty stocks drive Monday’s trade while financials stocks are at the bottom around 0.2% higher.    
  • Out of 50 stocks traded on the BSE, 41 advanced, and 9 declined. Read More

Lux Industries hits 5% upper circuit on robust Q2 numbers

Published on: 12:29 pm

  • Lux Industries Limited hits 5% upper circuit on Monday after  it has announced its un-audited financial results for the quarter and half year ended September 30, 2021.
  • Q2FY22 Performance Highlights:
  • Revenue of Rs630.86cr, yoy growth of 25%
  • EBIDTA of Rs141cr, yoy growth of 44%
  • PAT of Rs100.04cr, yoy growth of 50%
  • Commenting on the Industry Trends, Ashok Kumar Todi, Chairman said, “Over the years the innerwear industry has graduated from a functional category to a fashionable one. Consumers now have personal preferences in colour, design, and style while choosing innerwear products. Read More

CRISIL revises ratings on Prince Pipes and Fittings' credit facilities; Stock jumps 1%

Published on: 12:21 pm

  • CRISIL Ratings has assigned its ‘CRISIL A1’ rating to the commercial paper programme of Prince Pipes and Fittings Limited (PPFL) while reaffirming its ratings on the bank loan facilities at ‘CRISIL A/Positive/CRISIL A1’.
  • As per rationale report, the ratings continue to reflect improving business risk profile marked by its market position in domestic plastic pipe industry supported by diverse product portfolio, geographical presence, and end-user industry, extensive experience of promoters, and a robust financial risk profile. Read more

TeamLease Services increases stake in Avantis Regtech and renames company to TeamLease Regtech

Published on: 12:15 pm

  • TeamLease Services, India’s leading Human Capital and Staffing firm, today announced increasing their stake in Avantis Regtech, the industry leader in digitization of Compliance Management to 61.5%. Along with this equity infusion, the strategic partnership will be expanded by changing the name of the company and brand to TeamLease Regtech.
  • The stock is currently trading at Rs4,634.25 up by Rs180.55 or 4.05% from its previous closing of Rs4,453.70 on the BSE. Read More

RBI modifies norms for current account opening by banks

Published on: 12:14 pm

  • The Reserve Bank of India (RBI) has decided that banks may open current accounts for borrowers who have availed of credit facilities in the form of cash credit (CC)/ overdraft (OD) from the banking system. The decision was made after taking into account feedback received from Indian Banks’ Association (IBA) and other stakeholders.
  • As per RBI, for borrowers, where the exposure of the banking system is less than Rs5cr, there is no restriction on the opening of current accounts or on the provision of CC/OD facility by banks, subject to obtaining an undertaking from such borrowers that they shall inform the bank(s), as and when the credit facilities availed by them from the banking system reaches Rs5cr or more. Read More

Nifty Realty rallies 4% to push upbeat markets; Godrej Properties, Sobha, Oberoi Realty, Lodha lead

Published on: 12:05 pm

  • The Nifty Realty stocks rallied along with Metal stocks amid upbeat markets on Monday. As the Index surged 4% with Godrej PropertiesOberoi Realty, and Sobha surged around 6%, Macrotech Developers (Lodha) and Indiabulls Real Estate also jumped ~5%.
  • Indian markets were bullish amid positive global cues. Moreover, Asian share rose today as traders digested the outcome of Japan's election and fresh all-time highs for US shares.
  • At around 12.05 pm, BSE Sensex was trading at 59,541.01 up 234.08 points or 0.39% and Nifty50 at 17,759.95 up 88.30 points or 0.5%. Nifty Realty was trading at 517.85 up 19.15 points or 3.84% touching a high of 519.10 and low of 502.85 during intraday trade on Monday. Read more

Dr Reddy's Lab launches Ephedrine Sulfate injection in US market; Stock climbs near 3%

Published on: 12:03 pm

  • Dr. Reddy’s Laboratories has announced the launch of Ephedrine Sulfate Injection USP, 50 mg/mL, a therapeutic equivalent generic version of Akovaz (ephedrine sulfate injection) Injection, 50 mg/mL approved by the U.S. Food and Drug Administration (USFDA).
  • The Akovaz brand and generic market had U.S. sales of approximately $67.5 million MAT for the most recent twelve months ending in August 2021, according to IQVIA Health. Read more

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