Published on: 4:33 pm
- The consolidated revenues for Q2’22 at Rs28,326cr grew 18.8% yoy on a comparable basis and 13.0% yoy on a reported basis. Consolidated mobile data traffic at 10,943 PBs in the quarter with a healthy yoy growth of 47.8%. Read more
Published on: 4:26 pm
- BSE, India’s premier exchange and the world’s fastest Stock Exchange with a speed of 6 microseconds, today signed a MoU with one of India’s largest private sector bank, HDFC Bank to further encourage and promote listing of Start-ups and SMEs across India.
- Through this MoU, HDFC Bank and BSE shall evaluate banking & lending solutions for Start-ups undergoing listing process on Start-ups and SME platform. Read more
Published on: 4:16 pm
- Bank of Baroda, India’s premium public sector bank, has signed a MoU with NCDEX e Markets Ltd to become a “Clearing Bank” for handling financial transactions for the NeML marketplace and procurement/ auction platform. The MOU was signed today by Mr. Mrugank Paranjape; MD & CEO NeML and Mr. Jagdish Tungaria; General Manager, Bank of Baroda.
- NCDEX e Markets Limited (NeML) is the leading Indian electronic web based, online, commodities spot market and Services Company. It combines best features of financial markets and spot markets. Read more
Published on: 4:15 pm
- H.G. Infra Engineering Limited ('HGINFRA') has received the Letter from National Highways Authority of India ('NHAI') dated November 01, 2021 regarding declaration of appointed date as October 28, 2021 for the project.
- The project is for 'Development of 6-lane Urban Extension Road (UER) - 2 - NH-344 M, Package I (from NH 1 to Karala - Kanjhawala Road, Km (-)0+700 to 15+000)in the state of Delhi on EPC mode.
- NHAI bid project cost is Rs1646.57cr while the company's bid project is Rs1393.11cr. Read more
Published on: 4:13 pm
- Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys and IBM announced that the Finacle Digital Banking Solution Suite will be available on Red Hat OpenShift and IBM Cloud for financial services. This collaboration will help banks scale business transformation, become more agile, and power their growth with an on-demand portfolio of products and services. It will also help banks achieve seamless ecosystem connectivity and provide a world-class banking experience for their customers, and enable them to meet required compliance and security requirements.
- The Finacle solution suite deployment with fully managed Red Hat OpenShift on IBM Cloud for financial services is designed to provide several benefits, including: Read more
Published on: 4:03 pm
- Insecticides India Ltd has informed to the exchanges in a regulatory filing that the Government of India, The Patent Office has granted the Patent for an invention A HERBICIDAL FORMULATION CONTAINING “PENDIMETHALIN AND OXYFLUORFEN” for the term of 20 years from 17th day of April 2017 (Date of Filing) to the company.
- Insecticides India Ltd is an agrochemicals company in India which is engaged in the manufacturing activities of agro chemicals, pesticides and technical products for agricultural purposes. Read more
Published on: 4:03 pm
- The Board of Directors of Allcargo Logistics Ltd, at its meeting held yesterday, approved the unaudited financial results for the second quarter ended September 30, 2021.
- The company reported revenue of Rs4,978 Crores for the quarter and EBITDA stood at Rs363 Crores. Profit before tax stood at Rs319 Crores, including Rs43 Cr exceptional income and Rs24 crs share of profit from associates and JVs.
- Exceptional income is largely driven by gains on sale of Gati Limited’s subsidiary Gati Kausar. The record performance has been delivered by exceptional leadership of the management team across businesses. Read more
Published on: 3:40 pm
Further, some incremental increase in the existing capacity has also been due to up-gradation, capacity balancing and augmentation through increased shift of operations, improved process cycle times and addition of balancing Plant & Machineries, as required, in existing Plants, said company in a regulataory filing. Read more
Published on: 3:40 pm
- To meet the country’s growing demand for temperature-controlled logistics solutions, Transport Corporation of India Ltd. (“TCI”), India’s leading integrated supply chain and logistics solutions provider, announces its joint venture with MITSUI through its subsidiary TCI Cold Chain Solutions Ltd (‘TCI CCS’).
- Transport Corporation of India Ltd ended at Rs765 per piece up by Rs75.9 or 11.01% from its previous closing of Rs689.10 per piece on the BSE. The scrip opened at Rs684.70 and has touched a fresh high of Rs799 per piece on the BSE. Read more
Published on: 3:37 pm
- Markets witnessed a negative day of trade, with the benchmark index trading in a narrow band during the trade.
- Bank Nifty underperformed the Nifty by 0.75% closing 0.5% higher, led by a strong rally in SBI. Portfolio stocks from IIFL’s Diwali Dhamaka report were among the top outperformers as the portfolio closed ~2% higher with stocks like Shriram Transport Finance & Tube Investments surging more than ~10% higher. Nifty Midcap 100 index closed ~0.9% higher.
- Market breadth ended in the favour of the advances with the advance/decline ratio closing at 2:1x. Read more
Published on: 3:22 pm
- NTPC Ltd stocks in focus on Tuesday after declaration of COD of first part capacity of 80 MW of 160 MW Jetsar Solar PV Project.
- According to the regulatory filing, in line with the Corporate Disclosure requirements, consequent upon successful commissioning and due approvals, first part capacity of 80 MW of 160 MW Jetsar Solar PV Project at Rajasthan, is declared on Commercial Operation w.e.f. October 22, 2021, said company. Read more
Published on: 3:16 pm
- In October'21 the electricity market at the Indian Energy Exchange traded 9165 MU volume with 8792 MU in the power market and 373 MU in the green market, achieving 36% yoy growth.
- According to the power demand data published by the National Load Dispatch Center, the national peak demand at 175 GW saw 3% yoy growth during the month while the energy consumption at 114 BUs also saw 3% growth during the month. Read more
Published on: 3:03 pm
- Mazagon Dock Shipbuilders has delivered First Ship of Project 15B Class Destroyer i.e. Yard 12704 (Visakhapatnam) to the Indian Navy. The ship is constructed using Indigenous Steel DMR 249A and is amongst the largest Destroyers constructed in India, with an overall length of 164 meters and a displacement of over 7500 tons.
- The ship is a potent platform capable of undertaking a variety of tasks and missions, spanning the full spectrum of maritime warfare. It is armed with supersonic Surface-to-Surface ‘Brahmos’ missiles and ‘Barak-8’ Lon Range Surface to Air Missiles. Towards undersea warfare capability, the Destroyer is fitted with indigenously developed anti-submarine weapons and sensors, prominently the Hull mounted Sonar Humsa NG, Heavy weight Torpedo Tube Launchers and Rocket Launchers. Read more
Published on: 3:02 pm
- Tata Consultancy Services (TCS) has been positioned as a Leader in the IDC MarketScape for Asia-Pacific (Excluding Japan) Managed Cloud Services.
- According to the report, “TCS' cloud services offerings are tightly integrated into its overall enterprise transformation framework (Business 4.0) and the Machine First delivery model (MFDM) it utilizes to realize the framework. This ensures that TCS can deliver true business transformation as part of its cloud services engagements.”
- The report said that “TCS has made substantial investments in its cloud ecosystem — in-house products, platforms and assets, skill and talent management (at scale) — and in its partner and co-innovation ecosystem. The capabilities enabled by this rich ecosystem allow TCS to serve a very wide breadth of customer requirements.” Read more
Published on: 2:57 pm
- Infosys announced that East Sussex County Council has selected the company as its implementation partner to modernize critical business systems and accelerate its transition to the cloud with Oracle Cloud Fusion Applications Suite.
- East Sussex County Council provides services used by all residents in East Sussex, including providing care and support to children, families and the elderly and maintaining the roads, as well as focusing on producing excellent results for its residents. To ensure that it can continue to deliver excellent services to its residents into the future, the council recognized the need to modernize its existing legacy systems to take advantage of the efficiencies cloud platforms will provide. Read more
Published on: 2:51 pm
- Grasim Industries has announced the commissioning of two expansion projects. On Tuesday, Grasim stock was under pressure.
- As per the regulatory filing, Grasim has commissioned a new line of 300 Ton Per Day (TPD) capacity of VSF and has commenced the commercial production from i.e. 1st November 2021. With this, the total VSF capacity of the Company has increased from 591,000 to 700,500 Ton Per Annum (TPA).
- Further, Grasim has commissioned the first phase of an expansion project at Rehla, Jharkhand on October, 21 with a capacity of 170 TPD Caustic Soda Lye. With this, the total Caustic Soda capacity of the Company has increased from 1,147 to 1,209 Kilo Ton Per Annum (KTPA). Read more
Published on: 2:50 pm
- Advanced Enzyme Technologies Limited, a leading specialty biotech company, with global leadership in the manufacturing of enzymes, announced their unaudited financial results for the second quarter and half year ended September 2021.
- The company’s revenue from operations on a consolidated basis increased to Rs127.1cr in the Q2FY22 from Rs120.4cr in the Q2FY21, showcasing a growth of 6% yoy. Read more
Published on: 2:41 pm
- Dynemic Products Ltd stocks rally in the markets on Tuesday after it has informed that it had started trial run for Dye Intermediates (Plant 2) at its manufacturing unit situated in Dahej, Gujarat from November 1, 2021.
- As per regulatory filing, the company will update the commencement of commercial production in due course.
- Dynemic Products Ltd is one of the major manufacturer and exporter in India, offering complete range of Food Colors, Lake Colors, Blended Colors, FD&C Colors & Dye Intermediates. Read more
Published on: 2:34 pm
- Procter & Gamble Hygiene and Health Care Ltd. announced today its financial results for the quarter ended September 30, 2021. Despite a challenging market environment and a higher base period, the company delivered sales of Rs1058cr, up 5% vs year-ago behind its superiority strategy, robust product portfolio and strong retail execution. Compared to the corresponding quarter two years ago, prior to the pandemic, company sales are up 24%.
- Profit After Tax (PAT) was Rs218cr, down 14% vs year ago behind commodity cost inflation and lower marketing investments in the corresponding quarter of 2020 due to the pandemic. For the quarter, both Feminine Care and Health Care businesses grew ahead of their categories. Read more
Published on: 2:30 pm
- Indices trade lower as metal stocks sink 1%; Auto stocks remain bullish.
- BSE Sensex is currently 60,032.12 dwon 106.34 points or 0.18%.
- Nifty50 is currently 17,895.50 down 34.15 points or 0.19%. Nifty Bank is 39,946.45 up 0.46%. Mid-cap Index is up 0.94%. Read more
Published on: 2:30 pm
- Nifty Pharma has recovered early losses during the second half of Tuesday's trading session. The index in the first half had plunged by more than 1% before correcting. Although, majority of the stocks are in red, however, Sun Pharma lifted the index by emerging top gainer after the Q2 earnings announcement. The index has floated between an intraday high and low of 14,098.45 and 13,878.30 respectively.
- Vaccination drive, slow down in Covid-19 cases, speedy recovery in the economy coupled with corporate earnings for September 2021 (Q2FY22) quarter - influenced markets outlook.
- At around 2.26 pm, Nifty Pharma traded at 14,064.35 up 14.90 points or 0.11%. On the index, 11 scrips declined while only 9 scrips advanced. Read more
Published on: 2:26 pm
- Shares of IRCTC Ltd declined in trade on Tuesday despite reporting a good set of Q2FY22 numbers on Tuesday.
- The consolidated profit after tax (PAT) for the Sep-21 quarter was up 386% at Rs158.57cr on the back of a gradual return to normalcy and regular activity. IRCTC saw EBIT growth that was more than 3.5 times in internet ticketing.
- The company reported 357.25% growth in total revenues for the Sep-21 quarter on a consolidated basis at Rs404.94cr. The revenues were up by 66.39% on a sequential basis compared to Rs243.37cr revenues in the Jun-21 quarter. Read more
Published on: 2:18 pm
- Intellect Global Transaction Banking (iGTB), the transaction banking specialist from Intellect Design Arena Limited has announced that Kuwait-headquartered Boubyan Bank has signed a major transformative deal with iGTB.
- Boubyan Bank will be one of the first banks in Kuwait to undertake a comprehensive digital transaction banking implementation to digitize and streamline Islamic transaction banking. For iGTB, this deal marks the third key digital transformation customer in Kuwait.
- With the adoption of new digital technologies including AI and Cloud and the rising digital transformation across the region, Kuwait’s Vision 2035 “New Kuwait” sets the vision for the country to become an international trade hub regionally and to stand out as a leader in digital technological innovations in the GCC region. Read more
Published on: 2:16 pm
- Zen Technologies, India’s leading anti-drone technology and defense training solutions provider announced its financial results for Q2FY22.
- The company posted a net loss of Rs0.74cr in Q2FY22 as against net profit of Rs0.92cr in Q1FY21. EBITDA (excluding Other Income) stood at Rs0.15cr, resulting in EBITDA margins of 0.97%.
- Company maintains strong Balance Sheet position by being almost Debt-free and supported by ample liquidity-position, the company said in the filing. Read more
Published on: 2:15 pm
- Godrej Properties Limited (GPL), a leading national real estate developer, on Tuesday announced its financial results for the second quarter ended September 30, 2021.
- The company’s total income stood at Rs290cr in Q2FY22 as compared to Rs238cr in Q2FY21. EBITDA stood at Rs105cr as compared to Rs77cr. Net profit stood at Rs36cr in Q2FY22 as compared to Rs7cr in Q2FY21. EPS amounted to Rs1.28 as compared to Rs0.28.
- The company said, Q2FY22 witnessed a total booking value of Rs2,574cr and a total booking volume of 3.61 million sq. ft. as compared to the total booking value of Rs1,074 and the total booking volume of 1.73 million sq. ft. in Q2FY21. Read more
Published on: 2:03 pm
- Newgen Software, a global provider of digital transformation platform, announced that it has been positioned as a Visionary in the 2021 Gartner Magic Quadrant. The report evaluated 18 different content services platform vendors based on their Ability to Execute and Completeness of Vision.
- "Enterprises today need a modern and efficient way to derive business value from their content spanning across devices, applications, and organizational boundaries. Our content services platform, part of our comprehensive NewgenONE Digital Transformation Platform, enables collaborative and secure access to critical business information, ensuring an omnichannel and contextual engagement. We believe this recognition further validates our continued focus on product innovation and customer experience," said Virender Jeet, CEO, Newgen Software. Read more
Published on: 2:00 pm
- Sarthak Metals Limited, one of India’s leading manufacturers of cored wires and aluminum flipping coils, that find application in the metallurgical industry, has announced its financial results for the half-year ended September 30, 2021.
- The company’s revenue from operations stood at an all-time high of Rs203.1cr in H1FY22, an increase of 107% yoy and 65% sequentially. EBITDA (excluding Other Incomes) stood at Rs14.9cr in H1FY22, an increase of 259% yoy and 34% sequentially. EBITDA Margins stood at 7.3% in H1FY22, compared to 9.1% in H2FY21 and 4.2% in H1FY21.
- The company’s net profit stood at an all-time high of Rs12.2cr in H1FY22, an increase of 826% yoy and 84% sequentially. Read more
Published on: 1:34 pm
- Sharika Enterprises Ltd has informed that the company has received order from Punjab Energy Development Agency.
- The project is for supply, installation and commissioning including Warranty and Maintenance for 5 years of 832 Off-Grid Solar Power Plants, amounting 7,07,16,318/- (Rs Seven Crore Seven Lacs Sixteen Thousand Three Hundred Eighteen Only) Including Taxes, said company in a regulatory filing. Read more
Published on: 1:30 pm
- BSE Sensex is currently 60,111.12 down 27.34 points or 0.05%.
- Nifty50 is currently 17,910.30 down 19.35 points or 0.11%. Nifty Bank is 39,966.90 up 0.51%. Mid-cap Index is up 0.68%.
- Titan, Maruti, NTPC, Larsen & Turbo, and Tata Motors are the top gainers. Grasim, Tata Steel, JSW Steel, Reliance, and Hindalco are the top losers. Read more
Published on: 1:23 pm
- Graphite India Ltd has informed that the Board of Directors of the Company have approved capex proposal for a 35 Mega Watt Hybrid (Wind and Solar) renewable power plant to supply captive power to the electrode plant in Satpur, Nashik.
- Further, as per regulatory filing, estimated project completion period is 10 to 12 months from signing of the Letter of Intent.
- During Q2FY22, Graphite India's PAT turns around to profit of Rs128cr due to low revenues in the base quarter. Read more
Published on: 1:17 pm
- Surya Roshni, one of India’s largest Steel Pipes, Lighting and Consumer Durables companies, announced the appointment of Vinay Surya, the Whole Time Director as Managing Director, effective from October 26, 2021.
- Vinay Surya has done an MBA from Swinburne University, Australia and has contributed majorly to the vision and strategy of the Company. With his long-term vision, hard work and dedication he was responsible for starting the Steel Pipe Exports globally. Read more
Published on: 1:07 pm
- Mindtree has launched Digital Health Passport for Travel, a solution that provides a smarter, safer and smoother experience to global travelers in navigating frequently changing travel regulations and restrictions related to the COVID-19 pandemic.
- The solution offers travelers an easy, quick and secure way to comply with country-specific entry requirements and protocols. It enables them to locate COVID-19 testing providers, schedule tests and make sure that test results meet their destination’s criteria.
- It also facilitates swifte approvals by allowing travelers to digitally store, manage, validate and share test results, vaccine certifications, self-attestations, travel authorization forms and other travel documents. Read more
Published on: 1:06 pm
- In-line with its vision to strengthen regional connectivity, IndiGo, India’s leading carrier, today symbolically launched the new direct flights between Bhubaneshwar and Jaipur, in the presence of Honourable Union Minister for Railway Mr. Ashwini Vaishnaw (virtually), Honourable Minister of Education Mr. Dharmendra Pradhan (virtually) amongst other eminent dignitaries.
- The new route was inaugurated with lamp lighting at the Bhubaneshwar airport. The flight will commence operations effective November 02, 2021.
- Mr. Sanjay Kumar, Chief Strategy and Revenue Officer, IndiGo said, “We are pleased to initiate direct connections between the temple city, Bhubaneshwar and the pink city, Jaipur. These new domestic flights will strengthen inter and intra-regional connectivity and promote trade, commerce, as well as tourism in the eastern state." Read more
Published on: 1:02 pm
- Thermax has appointed Navjit Gill as the Chief Executive Officer of First Energy Private Limited. Thermax recently announced the expansion of its Solar business, transitioning from the present rooftop-based Capex model to the solution-based Opex model. Thermax’s Solar business is projected to grow to a GW scale based on its Opex strategy.
- The new business, to be helmed by Thermax’s subsidiary, First Energy Private Limited, will work closely with customers in the commercial and industrial space and support their decarbonising journey by providing optimised renewable power. First Energy strives to set up open access based solar and solar hybrid farms, hybridising solar with storage and other solutions and delivering appropriate renewable power to customers. Read More
Published on: 12:59 pm
- Datamatics Global Services Limited, a global Intelligent Automation Products, Digital Solutions, Technology, and BPM Company, announced on Monday the successful implementation of its Robotics Process Automation (RPA) Solution Datamatics TruBot, at Western Bainoona Group (WBG).
- The company stock was in demand on Tuesday and at around 1.02 pm, Datamatics Global Services Ltd was trading at Rs333.40 per piece up by Rs11.7 or 3.64% from its previous closing of Rs321.70 per piece on the BSE. Read more
Published on: 12:57 pm
- Praj Industries (Praj) has appointed Valorem, as External Investor Relations (IR) agency, effective from November 01, 2021.
- Valorem Advisors, a Mumbai headquartered IR agency and Anuj Sonpal is the Founder & CEO.
- Valorem Advisors manages Investor Relations for more than 50 public companies across sectors in India. They have a credible track record of in maintaining strong relationships with the Equity Capital Markets community. Read More
Published on: 12:52 pm
- Jonjua Overseas Limited informed the exchanges Monday that it has acquired a minor stake in Sunil Khullar Infotech Management Services Private Limited — a leading outsourcing company from Punjab serving the North American market.
- At around 12.56 pm, Jonjua Overseas Limited was trading at day's high of Rs11.47 per piece up Rs0.54 or 4.94% on the BSE. Read More
Published on: 12:45 pm
- Coal India has announced its provisional production and offtake performance of the company and subsidiaries in October 2021 and for the period between April - October 2021.
- As per the data given on the exchanges, Coal India's production stood at 49.8 Mill Te in October 2021, from 46.8 Mill Te in the same month of last year - rising by 6.4% yoy.
- Between April - October 2021, the company's production stood at 299.6 Mill Te rising by 5.9% from 282.8 Mill Te in a similar period last year. Read More
Published on: 12:45 pm
- TVS Motor Company registered 355,033 units in October 2021 as against sales of 394,724 units in the month of October 2020.
- In the regulatory filing, a total of two-wheelers registered sales of 341,513 units in October 2021 as against sales of 382,121 units in October 2020. Domestic two-wheeler registered sales of 258,777 units in October 2021 as against sales of 301,380 units in October 2020.
- With pandemic restrictions easing and the festive season soon approaching, we expect the retails to improve significantly in the coming months. Read More
Published on: 12:42 pm
- Rupa & Company Limited, one of the leading and largest knitwear brands in India, engaged in the manufacturing, marketing, selling and distribution of men's and women's innerwear, thermal wear and fashion wear announced its Unaudited Financial Results for the Quarter and half year ended September 30, 2021.
- The company’s Profit After Tax (PAT) grew 17% yoy to Rs53cr in Q2FY22 from Rs45.4cr in Q2FY21. Revenues increased 21% yoy to Rs367.5cr in Q2FY22 from Rs303.5cr in Q2FY21. EBITDA rose 8% yoy to Rs71.3cr from Rs66.1cr. Read more
Published on: 12:38 pm
- NCC Limited stock was in the fast lane on Tuesday after the company announced its order book for October 2021.
- The company has received one new order for Rs442cr (exclusive of GST) in October 2021.
- This order pertains to Mining Division and is received from a State Government agency and does not include any internal order.
- At around 12.36 pm, NCC was trading at Rs73.15 per piece up 2% on Sensex. Read More
Published on: 12:33 pm
- Jubilant Foodworks Ltd has informed that the wholly owned subsidiary, Jubilant Foodworks Netherlands B.V. will purchase 10,146,964 ordinary shares of DP Eurasia N.V. (“DP Eurasia”) at a price of 95 pence per share via a reverse bookbuild (“RBB”).
- On completion of the RBB, the Company and its subsidiaries will own a total of 57,844,846 ordinary shares in DP Eurasia, which represents 39.79% of the issued share capital of DP Eurasia.
- At around 12:34 PM, Jubilant Foodworks was trading at Rs3,753.55 apiece up by Rs6.9 or 0.18% on Sensex. Read More
Published on: 12:32 pm
- Tata Consultancy Services (TCS) has been recognized as a Leader in the IDC MarketScape for Worldwide Artificial Intelligence (AI) Business Services. According to the report, “IDC considers TCS' end-to-end life cycle of AI business services portfolio and strategies around a delivery model, innovation and R&D, and employee skills and retention as key strengths.” It goes on to say that “Buyers spoke highly of TCS' breadth and depth of IP and tools to deliver AI services and its ability to integrate the company's project team with their internal team.”
- “Enterprises are reimagining the customer journey by embedding advanced analytics and AI at scale within their operations to accelerate their growth and transformation. TCS leverages its AI expertise and intellectual property along with cloud and modernization capabilities to help global enterprises pursue new revenue opportunities, improve productivity multi-fold, enhance customer experience, and drive differentiation,” said Dinanath Kholkar, Global Head, Analytics and Insights, TCS. Read More
Published on: 12:30 pm
- Benchmark market indices remain flat; Auto and Realty stocks advance while Pharma, Metal stocks drag.
- BSE Sensex is currently 60,159.06 up 20.6 points or 0.03%.
- Nifty50 is currently 17,933.95 up 4.30 points or 0.02%. Nifty Bank is 40,033.55 up 0.68%. Mid-cap Index is up 0.67%.
- Maruti, NTPC, Titan, Larsen & Turbo, and Bajaj Auto are the top gainers. Sun Pharma, Tata Steel, JSW Steel, Dr. Reddy’s, and Grasim and are the top losers.
- Nifty Auto, Realty, Banking, and Financial Services stocks drive Tuesday’s trade while Nifty Pharma, Metal stocks drag the most.
- Out of 50 stocks traded on the BSE, 25 advanced, and 25 declined. Read More
Published on: 12:28 pm
- Capital Small Finance Bank, which is amongst the leading SFBs in India in terms of asset quality, cost of funds, retail deposits and CASA deposits for fiscal 2021. (Source: CRISIL Research Report) has filed its Draft Red Herring Prospectus (“DRHP”) with market regulator Securities and Exchange Board of India (“SEBI”).
- The company commenced operations as India’s first small finance bank and has the most diversified portfolio with the sizeable book in multiple asset classes as compared to other SFBs with the highest proportion of secured lending of 99% as of Fiscal 2021 among the SFBs. (Source: CRISIL Research Report). Read More
Published on: 12:25 pm
- Yes Bank has announced the completion of stake sale in YES Asset Management (India) Limited ("YESAMC") and YES Trustee Limited ("YTL"). These two companies were wholly-owned subsidiaries of the Bank.
- The Board of Directors of YESAMC and YTL at their respective meetings held have taken on record and confirmed the b·ansfer of shares from the Bank to the Purchaser. Further, the Board of YESAMC and YTL has been reconstituted.
- With stake sales completed, YESAMC and YTL ceased to be subsidiaries of the Bank on and from November 1, 2021. Read more
Published on: 12:18 pm
- Adani Transmission has signed a share purchase agreement with REC Power Development and Consultancy Limited (formerly known as REC Power Distribution Company Limited) to acquire the latter's entire stake in MP Power Transmission Package-II Limited (MPPTPL).
- The entire stake represents 100% of the total issued. paid-up and subscribed Equity Share Capital in MPPTPL.
- Adani Transmission said that this acquisition is in sync with the Company's strategy to enhance the value for its stakeholders through organic as well as inorganic opportunities Read More
Published on: 12:14 pm
- Indian Railway Finance Corporation Limited (IRFC), the dedicated market borrowing arm of the Indian Railways, posted profit growth of 59% for H1FY22 at Rs3,003cr vis-a-vis Rs1,887cr reported in H1FY21. The company posted profit growth of 51% for Q2FY22 at Rs1,501cr vis-a-vis Rs995cr reported in Q2FY21.
- The revenue from operations for H1FY22 grew by 26% yoy to stand at Rs9,272cr as against Rs7,383cr reported in H1FY21. The revenue from operations for Q2FY22 also grew by 26% yoy to stand at Rs4,690cr as against Rs3,714cr reported in Q2FY21. Read More
Published on: 12:12 pm
- Intellect Design Arena Limited has informed that it has proposes to set up an Alternative Investment Fund (AIF) for Rs100cr to further pursue its transition from a Product Company to a Fintech Platform based company.
- The investment will be set up in ‘Alternative Investment Fund-Category II’ and not ‘Category III’, as mentioned in the quarterly results and associated investor presentation.
- As Intellect integrates and participates in the Platform economy with Marketplaces and Ecosystems, there would be opportunities to collaborate with specific Partners who would complement our technical and functional expertise and help expand the business. Read more
Published on: 12:09 pm
- Tata Motors Ltd reported 14.66% growth in total revenues for the Sep-21 quarter on a consolidated basis at Rs61,379cr. The revenues were down by 7.57% on a sequential basis compared to Rs66,406cr revenues in the Jun-21 quarter.
- The consolidated net loss for the Sep-21 quarter was at Rs4,442cr almost the same level as the sequential June quarter. The company has been making provisions each quarter towards the big EV shift that the company is making. Read more