Latest News and Updates

04th Nov, 2021

Wipro named AWS Migration Success Partner of the Year 2021 in India

Published on: 7:37 pm

  • Wipro Limited announced that it has been recognized as the ‘AWS Migration Success Partner of the Year 2021 - India’ at the Amazon Web Services (AWS) Partner Summit Online in India.
  • The AWS Partner Network (APN) awards recognises technology leaders that play a key role in helping organisations build solutions on AWS and accelerating innovation. The ‘AWS Migration Success Partner of the Year 2021 Award’ is given to an AWS Partner who has scaled customer engagement, cloud adoption and migration to AWS during the qualifying period. Read More

TCS named a Leader in IDC MarketScape for Worldwide B2B Commerce Services for Industrial Manufacturi

Published on: 7:27 pm

  • Tata Consultancy Services (TCS), a leading global IT services, consulting and business solutions organization, has been named a Leader in the IDC MarketScape for Worldwide B2B Commerce Services for Industrial Manufacturing.
  • “We believe our deep contextual knowledge of our customers' businesses, our design thinking-led approach, comprehensive ‘ideation-to-execution’ digital commerce capabilities, investments in cross industry customer experience platforms, and a rich partner ecosystem make us the preferred business and technology transformation advisor for our manufacturing customers,” said Susheel Vasudevan, Business Group Head, Manufacturing and Utilities, TCS. “This recognition as a Leader is a testament to our innovation efforts, wide set of industry-specific offerings and the resultant market success.” Read more

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Muhurat Trading 2021: Sensex settles near 60,100, Nifty 50 over 17,915; Auto outperforms; M&M, I

Published on: 7:26 pm

  • On the closing of Mahurat trading 2021 on Thursday, both benchmarks erased slight gains, however, settled on a bullish tone. Sensex neared 60,100-mark and Nifty 50 around 17,920. A broad-based buying was recorded with auto stocks outperforming after their monthly sales data. FMCG, Capital goods, consumer durables and industrial stocks also contributed substantially to the upside. Q2 earnings led to a further rise in appetite for equities.
  • Sensex settled at 60,067.62 up 295.70 points or 0.49% and the Nifty 50 finished at 17,916.80 higher by 87.60  points or 0.49%.
  • In the trading hours, Sensex has touched an intraday high of 60,207.97 and Nifty 50 climbed to the day's high of 17,947.55. Read More

ICRA revises ratings on Shalby's credit facilities; Stock gains over 1%

Published on: 7:25 pm

  • Shalby Ltd has informed about the upgradation of Long Term Credit Rating from ICRA A to ICRA A+ for the long term credit facilities of Rs103.02cr, the company informed that ICRA Limited has now increased the Rated amount of Credit facilities from Rs103.02cr to Rs228.02cr and reaffirmed/assigned the Credit Rating as ICRA A+/Stable.
  • As per rationale report, the assigned rating factors in the expected improvement in the operating income and earnings of Shalby Limited.
  • The rating, however, remains constrained by the growing, though moderate occupancy levels (~36% in FY2021) of Shalby’s hospitals, which puts pressure on the overall operational performance of the company. Read More

Parsvnath Developers join hands with Akshaya Signature Homes to develop residential plotted colony

Published on: 7:21 pm

  • Parsvnath Developers entered into a Joint Development Agreement (“JDA") with Akshaya Signature Homes Private Limited (‘the Developer’) for the development of a residential plotted colony (“Project”) on land admeasuring 7.90 acres (approximately) situated at Old Mahabalipuram Road, Chennai (in Chengelpet District, formerly Chengelpet Taluk, Kancheepuram District) (“Project Land").
  • The aforesaid land has been acquired by the Company from Sumeru Soft Private Limited vide registered Sale Deed dated November 2, 2021.
  • The proposed project to be developed on the Project Land shall be in the form of a layout consisting of plots of different sizes. Read More

Eicher Motors shoots up 6% after reporting higher Q2 PAT at Rs373cr

Published on: 7:15 pm

  • Eicher Motors Limited (EML) on Wednesday announced its audited consolidated financial results for the second quarter of FY22. For the quarter ended September 30, 2021, Eicher Motors Ltd. recorded total revenues at Rs2,250cr, up by 5.4% as compared to Rs2,134cr in the corresponding quarter of FY21. EBITDA was Rs470cr as compared to Rs471cr in the same quarter of the previous financial year.
  • The automobile company’s Profit After Tax was recorded at Rs373cr as against a profit of Rs343cr during the same period last year. Royal Enfield sold 123,515 motorcycles during the quarter, a decline of 17.2% from 149,120 motorcycles sold over the same period in FY21. Read more

BSE Capital Goods at new lifetime high as SKF India hits 52-week high; Grindwell Norton, ABB India l

Published on: 7:15 pm

  • BSE Capital Goods stocks hits new record high after Indian Benchmarks have conducted one-hour special Muhurat trading session to mark the beginning of 'Hindu Samvat year 2078'. The index trades bullish tracking positive market cues on Thursday. The S&P BSE Capital Goods index was in the bull run with majority stocks were trading in the green lifting BSE benchmark up.
  • At around 19:20 PM, the S&P BSE Capital Goods index was trading at 28,081 up 252.94 points or 0.91%. The index has touched 52-week high at 28,160.84 on Thursday.
  • SKF India was the top bull zoomed over 5% after hitting 52-week high at Rs3720 per piece. Grindwell Norton also led the bullish stance by surging over 5% at Rs1670.85 per piece. Heavyweights Thermax, ABB India contributed the sector to lead the bull run by surging over 2% each. Read More

UFlex commissions BOPET Films Plant in Nigeria

Published on: 7:14 pm

  • UFlex Limited, India’s largest multinational and a global leader in polymer sciences continues to take steps to reach closer to its customer base. The company has commissioned its BOPET film manufacturing plant in the Ogun State of Nigeria with a production capacity of 45,000 TPA. Spread over 37 acres, the plant houses first-of-its-kind 10.6 meter wide BOPET film line in Africa and also has two Metallizers with a total production of 15000 TPA. The plant that created over 200 direct jobs, is set to cater to the packaging film demand coming from the fast growing economy of Nigeria, ECOWAS (Western Africa) and USA.
  • In the quarter July-August-September 2021, UFlex also added a fleet of new value-added products & solutions products to its portfolio that not just help its customers’ products stand out on the retail shelves but also helps brands extend an overall elevated packaging and consumption experience. Read More

BSE SmallCap outperforms on Muhurat trading, index tops over 1%; Top stocks rally from 5-16%

Published on: 7:11 pm

  • SmallCap stocks outperformed counterparts on BSE during Thursday's Mahurat trading session. On the index, a total of 815 stocks advanced, while 74 declined and only 3 remained unchanged. Top Stocks on the index rallied between 5-16%.
  • At around 7.11 pm, S&P BSE SmallCap was trading at 28,917.54 higher by 404.92 points or 1.4%. The index was near the intraday high of 28,918.
  • Medicamen Biotech was the top gainer soaring by more than 16% while Mirza International and Orient Paper followed with more than 14% and 10% upside. Read more

Precision Wires gains after Q2 PAT rises 49.7% yoy; board approves 5-for-1 stock split

Published on: 7:08 pm

  • Shares of Precision Wires India gained 1% on the BSE at 7:05 PM, during Diwali Muhurat Trading 2021.
  • The net profit rose 49.55% to Rs14.97cr in the quarter ended September 2021 as against Rs10.01cr during the previous quarter ended September 2020.
  • The sales rose 80.24% to Rs706.65cr in the quarter ended September 2021 as against Rs392.06cr during the previous quarter ended September 2020.
  • The board declared an interim dividend of Rs1.75 per equity share. Read More

Rattanlndia Enterprises acquires 100% stake in Cocoblu Retail

Published on: 7:08 pm

  • Rattanlndia Enterprises Limited (REL) has acquired a 100% stake in ‘Cocoblu Retail Limited consequence to which, it has become a wholly-owned subsidiary company of REL.
  • Acquisition of shares at the face value of the company as the target company just got incorporated and yet to commence the business. Cost of acquisition is Rs1,00,000/- for 10,000 equity shares at Rs10/- each.
  • “Online retail is witnessing explosive growth in the country. REL has acquired 100% stake of ‘Cocoblu Retail Limited’ which intends to start a retail business on online E-commerce platforms,” company said in a filing on Wednesday. Read more

HCL Tech launches dedicated AWS Business Unit to accelerate Enterprise Cloud Transformation

Published on: 7:02 pm

  • HCL Technologies Limited (HCL), a leading global technology company, has launched its Amazon Web Services (AWS) Business Unit (AWS BU) to help enterprises worldwide accelerate their cloud transformation journey.
  • This dedicated business unit within HCL will be supported by AWS engineering, solutions, and business teams. HCL currently holds five AWS competencies, has more than 10,000 professionals trained on AWS, and plans to boost this capacity to more than 20,000 specialists in the future.
  • The new business unit will help businesses modernize their legacy systems and mainframe applications and reliably adopt cloud technologies that boost efficiency, achieve objectives and meet regulatory compliance, all the while migrating and managing SAP workloads on AWS. Read More

Muhurat Trading Session at BSE in the Vikram Samvat Year 2078

Published on: 6:55 pm

  • BSE welcomed the Vikram Samvat Year 2078 with much fanfare and panache. The Lakshmi Pooja and the Muhurat Trading Session on Thursday 04 November 2021 from 6:15 p.m. to 7:15 p.m. was graced by a lot of recognized personalities from broking fraternity, corporates and Bollywood. Renowned movie star, Ms Bhagyashree graced the occasion of Laxmi Puja and Bell ringing ceremony.
  • On the backdrop of festive mood, BSE commenced its evening by felicitating top volume brokers in Equity, Equity Retail, equity institutional segment, Equity Prop Segment, Equity, Commodities,  Algo Segment, Currency Derivatives, Sovereign Gold Bond, Interest Rate Derivatives, Fixed Income, Settlement of Corporate Bonds segments and IPO / FPO /OFS, Mutual Fund and SME Members. Read more

Share India Securities hits 52-week high after completing acquisition of 51% stake in Algowire Tradi

Published on: 6:53 pm

  • Share India Securities Ltd has informed the exchanges regading updates on acquisition in Algowire Trading Technologies Private Limited.
  • Earlier,the company had informed that the Board of Directors on September 23, 2021, had, inter-alia, approved the acquisition of 51% shareholding in Algowire Trading Technologies Private Limited.
  • As per regulatory filing, at present Share India informed that the aforementioned acquisition has been completed and the Company has competed acquisition of 51 % shareholding in Algowire Trading Technologies Private Limited at a total consideration of Rs2.142cr. Read More

Muthoot Finance registers higher Q2 net profit at Rs1,002cr; Stock up 1%

Published on: 6:52 pm

  • Muthoot Finance Limited posted a consolidated net profit of Rs1,001.96cr for the second quarter ended September 30, 2021, rising 2% from Rs979cr in Q1FY22. During the quarter, Consolidated Loan Assets under management increased by Rs2,784cr ie. an increase of 5% qoq.
  • Consolidated loan assets under management increased to Rs60,919cr, up by 17% yoy for H1FY22. Consolidated Profit after Tax increased to Rs1,981cr, up by 11% yoy for H1FY22. Standalone Loan Assets Under Management increased to Rs55,147cr for H1FY22, up by 17% yoy. Standalone Profit after tax increased to Rs1,965cr for H1FY22, up by 13% yoy. Read more

Investors upbeat on auto stocks after monthly sales data; Nifty Auto gains over 1% Eicher, Tata Moto

Published on: 6:50 pm

  • During the Mahurat trading hour on Thursday, investors were upbeat on auto stocks. The Nifty Auto index was among the top gainers and have advanced by more than 1%. Investors broader buying sentiments come after automakers announced their October monthly sales data, while Q2 earnings continue to play role in swaying sentiments.
  • At around 6.47 pm, Nifty Auto was trading at 11,545.70 higher by 144.50 points or 1.3%. The index has touched an intraday high of 11,552.15. Read More

Nifty Consumer Durables advances over 250 pts as Relaxo, Whirlpool, Voltas led the bull charge

Published on: 6:40 pm

  • Nifty Consumer Durables index was trading bullish on Thursday's auspicious Muhurat Trading session 2021. The index top over 260 points as indian benchmarks opened on a strong note on account of Diwali festival. Heavyweights Relaxo, Whirlpool stretched the winning streak followed by Voltas, Bata India. Only, Blue Star witnessed some profit bookings to drag the sector.
  • At around 18:40 PM, Nifty Consumer Durables was trading at 29,112.45 up 262.50 points or 0.91%, after touching a high of 29,170.40 and low of 28,957.45 during intraday trade.
  • Meanwhile, BSE Sensex was trading at 60,112.14 up 350.22 points or 0.59% and Nifty50 at 17,931 up 101.80 points or 0.57%. Read more

Bank Nifty in the fast lane on broad-based buying; Except ICICI Bank, all stocks trade higher; SBI s

Published on: 6:35 pm

  • In the trading bell of Samvat 2078, Bank Nifty picked momentum and even earmarked an intraday high of 39,734.70. A broad-based buying was recorded on the index contributing further to the upside on the NSE benchmark. PSU Banks outperformed Private banks. However, except for ICICI Bank, all other stocks are trading in the fast lane.
  • At around 6.36 pm, Bank Nifty traded at 39,642.95 higher by 240.90 points or 0.61%. Nifty PSU Bank surged nearly 1.4%, while Nifty Private Bank zoomed a little over 0.6%.
  • Federal Bank was the top gainer soaring by 1.4%. SBI was the second-best bet on the index surging by 1.3% after the lender announced its Q2 earnings. Read more

Top 10 hot stocks on D-Street in the opening bell of Muhurat trading!

Published on: 6:34 pm

  • Sensex has gained as much as over 60, 200-level on the auspicious hour of Muhurat trading. Nifty 40 also had its share of bull run with gains taking the index to nearly 17,950 levels.
  • The Muhurat trading which began at 6.15 pm on Thursday, is carried to celebrate the beginning of the new Samvat 2078 which is the Hindu calendar year that starts on Diwali. The trading will continue till 7.15 pm.
  • On Sensex, the top 10 hot stocks that witnessed heavy buying sentiments are:
  • At around 6.29 pm, M&M was trading higher by 2.4% followed by ITC and L&T surging by 1.3% each. Read more

Prataap Snacks gains ~3% despite fire accident at Howrah manufacturing unit

Published on: 6:26 pm

  • Prataap Snacks Limited informed the exchanges Wednesday that a fire accident took place on November 3, 2021, at one of its manufacturing units situated at Howrah, West Bengal. However, there is no casualty.
  • The fire resulted in damage to inventories, plant, and machineries, and building, thereby disrupting the operations of the Kolkata unit. Till the time, the operations resume in the Kolkata unit, the demand of the Eastern market will be catered from our another manufacturing unit located at Guwahati. Read more

Polycab India divests 100% stake in Ryker Base Pvt. Ltd.

Published on: 6:25 pm

  • Polycab India Limited (PIL) has signed an agreement with Renuka Investments and Finance Limited, a wholly owned subsidiary of Hindalco Industries Limited, to divest the entire equity shareholding in Ryker Base Pvt. Ltd. (Ryker). Ryker was a wholly owned subsidiary of PIL.
  • The enterprise value is pegged at Rs 3,230 mn. Post debt and working capital adjustments, the sale consideration is likely to be around Rs.1,675 mn. 
  • Consolidated debt in PIL financials is likely to reduce by about Rs1,575 mn which pertains to external commercial borrowing and working capital loan of Ryker. The transaction is expected to be completed by December end and is subject to fulfilment of certain conditions by both parties as well as applicable customary approvals. Read more

Lupin’s Namuscla is recommended by NICE for treatment of symptomatic myotonia in adults

Published on: 6:23 pm

  • Global pharma major Lupin on Thursday has announced that the National Institute for Health and Care Excellence (NICE) has issued the Final Appraisal Determination (FAD) recommending the routine funding of Namuscla (mexiletine) in England and Wales.
  • NICE recommends Namuscla (mexiletine) within its marketing authorisation, as an option for treating the symptoms of myotonia in adults with non-dystrophic myotonic disorders. Lupin has agreed a confidential patient access scheme with NHS England (NHSE). Read more

Muhurat trading: Sensex soars 360 pts, Nifty 50 above 17,935; M&M, SBI, Bajaj Finserv, Kotak, IT

Published on: 6:18 pm

  • The auspicious hour of Muhurat trading 2021, has begun with Sensex hitting over 60,200-mark and Nifty 50 nearing 17,940-level. Consumer durables, auto, banking, capital goods, IT, metal and oil & gas stocks were in the fast lane. Midcap and SmallCap stocks too witnessed bullish stances.
  • In the opening session of Mahurat trading, Sensex hit an intraday high of 60,207.97 and Nifty 50 touched an intraday high of 17,940.95.
  • At around 6.18 pm, Sensex was performing at 60,130.84 up 358.92 points or 0.60%. Nifty 50 traded at 17,936.05 up by 106.85  points or 0.6%. Read More

Rane Holdings logs 33% yoy growth to Rs697cr in Q2FY22; Stock soars 2%

Published on: 6:16 pm

  • Rane Holdings Limited, the holding Company of Rane group has announced financial performance for the second quarter (Q2FY22) and six months (H1FY22) ended September 30, 2021.
  • On Thursday during Muhurat Trading, Rane Holdings was trading at Rs640.55 per piece higher by 2.01% on Sensex.
  • Group Aggregate Performance Q2 FY22
  • Total Revenue was Rs1,395cr in Q2 FY22 compared to Rs1,072.9cr in Q2 FY21, an increase of 30%.
  • EBITDA stood at Rs105.9cr compared to Rs100.3cr during Q2 FY21, an increase of 5.6%
  • EBITDA Margin at 7.6% for Q2 FY22 against 9.4% in Q2 FY21.
  • PBT stood Rs45.5cr for Q2 FY22 Rs14.8cr in Q2 FY21, an increase of 207.7% Read more

Ind-Ra upgrades issuer rating of HeidelbergCement to AAA; Stock up 1%

Published on: 6:16 pm

  • India Ratings and Research Pvt. Ltd. (Ind-Ra), has on Wednesday upgraded the Long-Term Issuer Rating of HeidelbergCement India Limited from ‘Ind AA+’ (with stable outlook) to ‘Ind AAA’ with a stable outlook.
  • The credit rating in respect of 10.4% Non-Convertible Debentures (NCDs) has also been upgraded to ‘Ind AAA’ with a stable outlook.
  • At around 6.21 pm, HeidelbergCement India Ltd was trading at Rs247.00 per piece up Rs2.85 or 1.17% from its previous closing of Rs244.15 on the BSE. Read More

Latent View Analytics IPO to open on November 10

Published on: 6:12 pm

  • Latent View Analytics Limited to open its initial public offering (“Offer”) on November 10, 2021. The Price Band of the offer has been fixed at Rs. 190 to Rs. 197 per Equity Share.
  • Bids can be made for a minimum of 76 equity shares and in multiples of 76 Equity Shares thereafter. Read more

Bharat Biotech's COVAXIN gets WHO nod for emergency use

Published on: 6:07 pm

  • Bharat Biotech, a global leader in vaccine development and innovation has announced that COVAXIN, India’s first indigenous Covid-19 vaccine, has been granted Emergency Use Listing by the World Health Organization (WHO).
  • This vaccine is a whole virion-inactivated vaccine against SARS-CoV2, developed in partnership with ICMR and NIV, Pune.
  • The emergency use listing (EUL) procedure assesses the suitability of novel health products during public health emergencies, with the objective of providing rapid access to medicines, vaccines and diagnostics, while adhering to stringent criteria of safety, efficacy and quality. Read more

Centre announces Excise Duty reduction on Petrol and Diesel on the eve of Diwali

Published on: 6:06 pm

  • The Government of India has announced an excise duty reduction on petrol and diesel on the eve of Diwali. The Ministry of Finance said in a notification on Wednesday that the excise duty on petrol will be reduced by Rs5 and the excise duty on diesel will be reduced by Rs10 from Thursday, and the prices of petrol and diesel will come down accordingly.
  • The reduction in excise duty is expected to boost consumption and keep inflation low in a bid to help the poor and middle classes.
  • The price cuts are also expected to boost economic activities across sectors - manufacturing, services or agriculture. Read More

Sensex, Nifty to hold one-hour special Muhurat Trading

Published on: 5:50 pm

  • Muhurat Trading session this year will be held tomorrow i.e. on Thursday, November 4, 2021. The Muhurat trading is a special session of one hour and is a ritual followed by investors for years in the capital markets.
  • The time frame of the session is marked during the most auspicious hour of the day every year and timings of the same are decided by the exchanges.
  • The stock markets will conduct the customary one-hour special Muhurat Trading, between 6.15 pm and 7.15 pm, on the auspicious occasion of Diwali. Read more

42 companies selected under PLI Scheme for White Goods: Centre

Published on: 5:40 pm

  • The Central Government said that 42 companies have been selected under PLI Scheme for white goods. Commerce and Industry Ministry said that 26 companies will invest Rs3,898cr for air conditioner components and 16 companies will invest Rs716cr for LED component manufacturing.
  • Further, the said investments of around Rs4,614cr would provide additional direct employment of about 44,000 persons. The net incremental production is expected to be more than Rs81,000cr. Read more

IndiGo appoints Saguna Vaid as General Counsel

Published on: 5:39 pm

  • InterGlobe Aviation Ltd (IndiGo) appoints Saguna Vaid as General Counsel of the Company. She will join IndiGo with effect from December 1, 2021. Saguna, with an overall experience of over 25 years, will replace Priya Mehra who has moved on.
  • Saguna has held senior leadership positions in a number of global organizations, supporting business functions with strategic legal advice on commercial transactions, corporate governance and regulatory compliances. She is known for leading high performing legal teams and providing hands-on legal and compliance support in a strong and collaborative manner. Read More

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