Live market updates

09th Nov, 2021

Praj and Indian Oil tie-up for accelerating transition to cleaner skies via production of Alcohol to

Published on: 4:48 pm

  • Praj Industries Limited (Praj) has inked an MoU with state-owned Indian Oil Corporation to explore opportunities to fast-track India's transition to cleaner and greener sources of energy by exploring avenues such as the production of Alcohol to Jet (ATJ) fuels, 1G & 2G Ethanol, Compressed Bio-Gas (CBG) and related opportunities in the Biofuels industry. Exploring these green energy horizons will be crucial for India to achieve carbon neutrality by 2070.
  • As per the MoU, IndianOil and Praj will also collaborate to set up Biofuel production facilities, including CBG, Biodiesel and Ethanol. The two companies would also work together to facilitate the sales and marketing of various co-products and intermediates produced from these facilities. Read more

Sapphire Foods IPO subscribed by 45% on Day 1 with strong demand from retail investors

Published on: 4:43 pm

  • KFC and Pizza Hut operator Sapphire Foods received a 45% subscription for its public issue (IPO) with bids for 43.81 lakh equity shares against an offer size of 96.63 lakh. The issue opened today and it will close on November 11.
  • The portions for non-institutional investors booked only 4%, retail investors have put in bids for 2.38 times of shares reserved for them. While qualified institutional buyers (QIB) portion have put in bids for 2% shares of their reserved portion.
  • The price band for the offer has been fixed at Rs1,120-1,180 per equity share. Read more

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Mindteck appoints Keyuri Singh to its Board of Directors

Published on: 4:42 pm

  • Mindteck (India) on Tuesday announced the appointment of Keyuri Singh to its Board of Directors. Singh has four decades of multi-disciplinary experience in consulting, finance and accounting, and human resources.
  • She is currently a Senior Associate with Great Place to Work, an independent research and consulting firm and the global authority of workplace culture.
  • “We are very pleased to welcome Singh to our Board of Directors”, commented Mindteck’s Chairman, Yusuf Lanewala. He added, “She has the depth of experience and knowledge in people management, building/optimizing organizational processes, business development and project management that has become ever so crucial in our competitive industry.” Read more

CRISIL reaffirms credit rating on Oricon Enterprises' bank facilities

Published on: 4:35 pm

  • Oricon Enterprises Ltd has informed to the exchanges that Crisil has reviewed and reaffirmed ratings outstanding for debt debt instruments of the company.
  • Long-term rating has been reaffirmed to CRISIL A-/Stable while short-term rating has been reaffirmed to CRISIL A2+.
  • CRISIL Ratings on the bank facilities of Oricon Enterprises Limited (Oricon) continues to reflect the company's established market position as the leading closure (metal and plastic) manufacturer in India, and its strong financial risk profile because of healthy networth, comfortable gearing and healthy debt protection metrics. Read more

PDS Multinational Fashions Q2 PAT nearly grows four-fold to Rs67cr; Stock ends 4.5% higher

Published on: 4:25 pm

  • PDS Multinational Fashions Ltd, a leading global plug and play design-led platform offering product development, sourcing, virtual manufacturing & supply chain platforms catering to leading brands and retailers globally, has announced its financial results for Q2 & H1FY22.
  • Revenues from operations stood at Rs2,195cr in Q2FY22 as compared to Rs1,856cr in Q2FY21; yoy growth of 18%. Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) was Rs84cr (3.8%) vs Rs35cr (1.9%) in Q2FY21. Reported EBIT of Rs78cr against Rs29cr in Q2FY21 (growth of 168%). Read more

ICRA: Operational BOT road assets of total project cost worth Rs207 billion on the block

Published on: 4:19 pm

  • M&A deals in road sector over the past three years (CY2019-YTD CY2021) have been mainly driven by developers’ intent to monetise operational assets to unlock capital so as to enable them to bid for new projects, reduce debt or improve their liquidity position. During this period, a total of 30 assets were sold with a total project cost of Rs. 35,988 crore compared to 52 assets sold during CY2015-CY2018 with a total project cost of Rs. 37,019 crore.
  • Giving more insights, Mr. Rajeshwar Burla, Group Head, Corporate Ratings, ICRA Limited says, “Around 57% of the projects sold between CY2019-YTD CY2021 were to relieve the liquidity stress of promoters and 13% were sold as part of the debt reduction plans of the promoter. Currently, about seven projects have signed definitive share purchase agreements while fourteen other assets worth Rs. 20,700 crore are on the block for monetisation." Read more

S H Kelkar stock hits upper circuit post block deals

Published on: 4:14 pm

  • Shares of S H Kelkar and Co hit the upper circuit at Rs183.70 on the BSE post block deals on the stock exchange. Around 14.12 million equity shares, representing 9.99% of the total equity of the company changed hands on the BSE. The names of the buyers and sellers are not ascertained immediately.
  • According to the shareholding pattern data on September 30 showed, Blackstone Capital Partners (Singapore) held 14.43 million shares or a 10.22 per cent stake in SHK. While, foreign promoter, KNP Industries Pte Limited held a 15.23 million or 10.78 per cent stake in the company. Read more

Karur Vysya Bank standalone net profit rises 44% yoy in Q2; stock ends 5.5% higher

Published on: 4:05 pm

  • Karur Vysya Bank Ltd posted a standalone net profit for the Sep-21 quarter were up 44.01% on yoy basis at Rs165.45cr. On a sequential basis, the net profit was up 51.97% compared to the Jun-21 quarter profits of Rs108.87cr.
  • The bank reported 1.04% lower total revenues for the Sep-21 quarter on a consolidated basis at Rs1,561cr. The revenues were lower -0.98% on a sequential basis compared to Rs1,577cr in the Jun-21 quarter.
  • The stock ended at Rs55.90 up by Rs2.95 or 5.57% from its previous closing of Rs52.95 on the BSE. The scrip opened at Rs53.50 and has touched a high and low of Rs57.45 and Rs53.50 respectively. Read more

Acuite assigns A- rating to bank facilities of Arman Financial Services and its subsidiary

Published on: 4:05 pm

  • Acuite has assigned the ratings of Arman Financial Services Limited to ‘ACUITE A-’for the bank facilities aggregating to Rs70cr.
  • The credit rating agency has also assigned the ratings of the Namra Finance Limited (Wholly Owned Subsidiary) to ‘ACUITE A-’ for the bank facilities aggregating to Rs140cr. Read more

RSWM reports net profit of Rs44.75cr in Q2; Company looks forward to continued robust business perfo

Published on: 3:57 pm

  • RSWM Ltd., RSWM is one of the largest manufacturers and exporters of synthetic and blended spun yarns from India, announced its financial results for the quarter ended September 30, 2021.
  • The Net profit of the company reported to Rs44.75cr in the quarter ended September 2021 as against net loss of Rs15cr during the previous quarter ended September 2020. Read more

Tamilnadu Petroproducts earnings up by 61% yoy to Rs463cr yoy in Q2FY22

Published on: 3:49 pm

  • Tamilnadu Petroproducts Limited (TPL), Chennai based Petrochemical manufacturing company and part of AM International - Singapore, announced its second-quarter results for FY22 on Monday.
  • TPL posted revenue of Rs463cr compared to Rs464cr in the preceding quarter and Rs288cr in the corresponding quarter of the previous year. Earnings increased 61% vis-a-vis Q2FY21 but were lower than the preceding quarter, attributable to a decrease in price realization during the quarter.
  • EBITDA increased to Rs68.15cr in Q2FY22 from Rs39.89cr in Q2FY21. Profit After Tax (PAT) rose to Rs45.20cr from Rs24.64cr in Q2FY21. PAT in Q1FY22 was Rs54.64cr. Read more

Gujarat Alkalies & Chemicals updates on development of Hydrazine Hydrate Plant

Published on: 3:48 pm

  • Gujarat Alkalies & Chemicals Ltd has informed to the exchanges regarding updates on Hydrazine Hydrate Plant.
  • Earlier, the company informed the Stock Exchanges about the development of Hydrazine Hydrate Technology with Indian Institute of Chemical Technology, Hyderabad (IICT).
  • Now, the patent has been granted to the patentee viz., Council of Scientific and Industrial Research & Gujarat Alkalies and Chemicals Limited for an invention entitled "AN IMPROVED PROCESS FOR PRODUCTION OF HYDRAZINE HYDRATE" by the Controller of Patent, the Patent Office, Government of India. Read more

Shyam Metalics stock ends lower despite strong performance in Q2

Published on: 3:48 pm

  • Shyam Metalics and Energy Limited (SMEL), a leading integrated metal producing company based in India with a focus on long steel products and ferro alloys and amongst the largest producers of ferro alloys announced its Unaudited Financial Results for the Quarter and Half Year ended 30th September 2021.
  • The net profit of Shyam Metalics & Energy jumped by 159.22% to Rs414.18cr in the quarter ended September 2021 as against Rs159.78cr during the previous quarter ended September 2020.
  • The stock ended at Rs350.05 down by Rs10.2 or 2.83% from its previous closing of Rs360.25 on the BSE. Read more

Markets close on a flat note; Midcap Stocks outperformed

Published on: 3:36 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 0.1% with both the indices closing marginally lower.
  • Midcap stocks were among the top outperformers with stocks like RBL Bank, Tata Motors DVR, IDEA & Vip Industries surged more than ~6% higher. Nifty Midcap 100 index closed ~1.2% higher. Read more

Pitti Engineering records Q2 PAT of Rs12.95cr rising by 28.34% yoy

Published on: 3:29 pm

  • Pitti Engineering Limited, a leading Engineering Company, has declared its financial results for the Quarter ended September 30, 2021.
  • Revenue from Operations has registered a growth of 79.50%, to Rs. 242.23 crore, as compared to Rs. 134.95 crore in Q2FY21. EBITDA was at Rs. 35.04 crore as compared to Rs. 24.03 crore in Q2FY21; increased by 45.82%.
  • EBITDA Margin is 14.47% against 17.81% in Q2FY21. Read more

Skipper gains over 3.5% despite decline in Q2 PAT to Rs4.35cr

Published on: 3:25 pm

  • Skipper Limited announced its results for the second quarter of FY22 ended September 30, 2021. The company’s revenue increased 18.8% yoy to Rs4,792.9 million in Q2FY22 from Rs4,036 million in Q2FY21. EBITDA at Rs419.3 million in Q2FY22 from Rs477.6 million in Q2FY21. Profit After Tax (PAT) declined to Rs43.5 million in Q2FY22 from Rs124.5 million in Q2FY21.
  • Towards close of trade on Tuesday, Skipper Ltd was trading at Rs80.50 per piece up by Rs2.95 or 3.8% from its previous closing of Rs77.55 per piece on the BSE.
  • “Bagged new orders worth Rs5,010 million for engineering products. The closing order book stood at Rs21,220 Million, Exports contributed about 39%,” the company said in a filing. Read more

Wipro named 2021 APAC Consulting Partner of the Year for Higher Education

Published on: 3:24 pm

  • Wipro Limited announced that it was named’s Consulting Partner of the Year in the Asia Pacific region for Higher Education.
  • Wipro earned this recognition based on its excellence serving higher-education customers, innovating on the Salesforce platform, and giving back to the community.
  • The stock is currently trading at Rs658.40 down by Rs0.05 or 0.01% from its previous closing of Rs658.45 on the BSE. The scrip opened at Rs661.15 and has touched a high and low of Rs666.10 and Rs657.05 respectively. Read more

Piyush Goyal: Time to reduce logistics cost by 5%

Published on: 3:20 pm

  • The Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal said that the inputs were given by Logistics Ease Across Different States Report 2021 can lead the way to bring down logistics costs by 5% over the next 5 years. The minister said during his address to the gathering after the release of the LEADS Report in New Delhi.
  • Goyal said that India is committed to building a modern infrastructure for the 21st century, at a pace never seen before. Referring to the recently launched PM GatiShakti Master Plan, he said that it would revolutionise the next generation of multimodal infrastructure development in the country. Read more

Sumeet Industries to shutdown plant in Surat for scheduled maintenance

Published on: 3:17 pm

  • Sumeet Industries Ltd has informed that the plant of the company situated at Karanj ( Surat ) will be remained shutdown for an estimated period of 8 days with effect from November10, 2021 to till November 17, 2021.
  • As per regulatory filing, the shutdown is for general and other scheduled maintenance works, said company on Tuesday. Read more

RBI to auction four govt securities worth Rs24,000cr on November 12

Published on: 3:10 pm

  • The government of India (GOI) has announced the sale (issue/re-issue) of four dated securities amounting to Rs24,000cr. Notably, the government will also have the option to retain additional subscriptions up to Rs2,000cr each against one or more security/ies.
  • The auction will be conducted using the uniform price method for 4.26% GS 2023, 6.67% GS 2035, uniform yield method for New GS 2026 and multiple yield method for New GS 2051. Read more

RBI permits FPIs to invest in debt securities issued by InvITs and REITs

Published on: 3:05 pm

  • The Reserve Bank of India has permitted foreign portfolio investors (FPIs) to invest in debt securities issued by InvITs and REITs. As per RBI's circular, FPIs can acquire debt securities issued by InvITs and REITs under the Medium-Term Framework (MTF) or the Voluntary Retention Route (VRR).
  • Notably,  such investments shall be reckoned within the limits and shall be subject to the terms and conditions for investments by FPIs in debt securities under the respective regulations of MTF and VRR.
  • Further, AD Category-I banks may bring the contents of the circular to the notice of their customers/constituents concerned. Read more

Talbros Automotive Components stock soars 4.5% after Q2 PAT rises 11% yoy to Rs11cr

Published on: 3:02 pm

  • Talbros Automotive Components Limited, announced its un-audited financial results for the quarter ended September 30, 2021. Total Income from Operations stood at Rs146cr in Q2FY22, 32% growth compared to Rs110cr revenue in Q2FY21.
  • The company reported EBITDA of Rs20cr in Q2FY22 as against Rs17cr in Q2FY21. EBITDA margin stood at 14% in Q2FY22. Profit After Tax (PAT) stood at Rs11cr in Q2FY22, a growth of 11% from Rs10cr in Q2FY21. Read more

Lupin, Sun Pharma confirms voluntary recall of products in US market; Stocks trade mixed

Published on: 2:54 pm

  • Pharma giants Sun Pharma and Lupin have confirmed the recall of different products in the US market. Both the companies have clarified stock exchanges over news reports claiming the same.
  • In its regulatory filing on Tuesday, Sun Pharma said that its wholly-owned subsidiary Sun Pharmaceutical Industries, Inc. (SPII) has initiated a voluntary recall of 69,336 blister packs of Loratadine Pseudoephedrine Sulphate Extended-Release Tablets on October 12, 2021, from the US market to the wholesaler level. The drug has been recalled due to a defect in the blister cavity. LoratadineD is used for the treatment of allergic rhinitis and the common cold. Read more

VMart Retail Q2 net loss narrows to Rs14cr, revenue rises by 93% on strong recovery in sales and sup

Published on: 2:40 pm

  • V-Mart Retail witnessed a narrowing in its net loss to Rs14cr in the quarter ending September 2021 (Q2FY22) compared to a loss of Rs19cr posted in the same period a year ago. The company's revenue rose by a whopping 93% to Rs338cr in the quarter under review against Rs176cr in the corresponding period last year.
  • V-Mart saw sustained recovery post the second wave of Covid related disruptions, despite the early part of the quarter remaining impacted by partial lockdowns in parts of the country. Acquisition of 74 Unlimited stores in South India, effective from 1st September also helped increase the sales recovery to 107% for the quarter, versus pre-Covid levels (Q2 FY20). On a comparable basis, excluding the addition of 74 Unlimited stores, the recovery from pre-Covid levels stood at 100% for the Company. Read more

KKR appoints K.V. Kamath as Senior Advisor

Published on: 2:40 pm

  • Global investment firm KKR today announced the appointment of K.V. Kamath as a Senior Advisor to KKR India. His appointment is effective immediately.
  • Kamath is recognized as one of the pioneers of India’s modern financial services sector, and brings to KKR more than five decades of experience building and leading large Indian businesses. Most recently, Mr. Kamath served as the first President of the New Development Bank, a multilateral development bank established by the BRICS nations, from its founding in 2015 until 2020. Prior to that, he was Chairman of ICICI Bank and Infosys Limited, two of India’s leading companies. In October 2021, he was appointed the Chairperson of India’s newly established National Bank for Financing Infrastructure and Development, which was created to support the development of long-term infrastructure financing in the country. Read more

Thomas Cook stock gains ~3% after introducing a range of thrilling Safaris & Jungle Experiences

Published on: 2:38 pm

  • Post 18 months of restrictions, being confined at home and living in a virtual world, Thomas Cook (India) Limited - India’s leading integrated travel services company and its Group Company, SOTC Travel, have identified a strong pent-up demand for outdoor and adventure experiences.
  • At around 2.42 pm, Thomas Cook (India) Ltd was trading at Rs79.40 per piece up by Rs2.1 or 2.72% from its previous closing of Rs77.30 per piece on the BSE. Read more

Qualitative Assessment to Drive Resolution of Banks under New PCA Framework: Ind-Ra

Published on: 2:35 pm

  • The new Prompt Corrective Action (PCA) framework introduced by the Reserve Bank of India (RBI) makes the resolution of banks through amalgamation, reconstruction, winding-up or other means necessary as a discretionary corrective action unlike the erstwhile guidelines where a breach of CET I conditions under ‘Risk Threshold 3’ was a specified condition for the same. With this, one may argue that the erstwhile assumption by some market players of CET I + capital conservation buffer falling 3.125% below the regulatory requirements (currently at 5.5% + 2.5%) as one of the quantitative thresholds for a bank’s non-viability no longer exists.
  • The RBI has also introduced leverage ratio as one of the three factors to be considered for placing banks under the revised PCA framework, replacing the profitability variable. Read more

UltraTech commits to GCCA 2050 Cement and Concrete Industry Roadmap for Net Zero Concrete

Published on: 2:34 pm

  • UltraTech Cement Limited, has announced its commitment to the GCCA 2050 Cement and Concrete Industry Roadmap for Net Zero Concrete.
  • This commitment to produce carbon neutral concrete by 2050 is a collective commitment of the world’s leading cement and concrete companies to fully contribute to building the sustainable world of tomorrow. The Roadmap also includes a sectoral commitment to cut CO2 emissions by a further 25 per cent by 2030.
  • UltraTech has made this commitment as a founding member of Global Cement and Concrete Association (GCCA). UltraTech is among forty of the world’s leading cement and concrete manufacturers to affirm their commitment to net zero concrete by 2050 and agree to an ambitious intermediate goal of preventing 5 billion tonnes of CO2 emissions by 2030. Read more

Market pulse at 2:30 PM today

Published on: 2:30 pm

  • Indices remain lower; Banking and Financial Services stocks drag the most.
  • BSE Sensex is currently 60,430.51 down 115.1 points or 0.19%.
  • Nifty50 is currently 18,050.80 down 17 points or 0.1%. Nifty Bank is 39,349.35 down 0.23%. Mid-cap Index is up 0.95%. Read more

Nifty Auto in fast lane amid major Q2 earnings; Bosch, M&M in focus; TVS Motor, Ashok Leyland hi

Published on: 2:20 pm

  • Major quarterly earnings have led to a bullish stance in the auto sector. Nifty Auto has gained by more than 1% so far on Tuesday. The index has been floating between an intraday high and low of 11,824.90 and 11,691.35. The broader sentiment in the sector was positive led by broad-based buying with heavyweights outshining.
  • M&M and Bosch are in focus ahead of their Q2 results, while MRF has already announced its financial performance for the quarter earlier today.
  • At around 2.15 pm, Nifty Auto was trading at 11,725.70 higher by 79.95 points or 0.69%. On the index, 12 scrips advanced while 3 scrips declined. Read more

Zydus Cadila to supply 1cr doses of world's first Plasmid DNA vaccine, ZyCoV-D to Govt

Published on: 2:13 pm

  • Zydus Cadila, listed as Cadila Healthcare on stock exchanges, has received an order to supply one crore doses of ZyCoV-D, the world’s first Plasmid DNA Vaccine, to the Government of India at Rs265 per dose and the needle-free applicator being offered at Rs. 93 per dose, excluding GST. The pricing has been decided in consultation with the Government of India.
  • Managing Director of the company, Dr Sharvil Patel said, “We are happy to support the Government’s vaccination programme with ZyCoV-D. The needle-free application of the vaccination, we hope, will motivate many more to vaccinate and safeguard themselves from COVID-19, especially children and young adults in the age group of 12 to 18 years.” Read more

Pricol posts Rs13cr profit in QFY22, a decline of 38% yoy; Stock climbs ~3%

Published on: 2:10 pm

  • The Board of Directors at Pricol Limited, one of India's leading automotive technology companies, today approved the unaudited financial results for the quarter and half year ended on September 30, 2021.
  • The company’s total income stood at Rs389.77cr in the quarter ended September 30, 2021, as against Rs387.44cr in the corresponding quarter in FY21. Revenue from operations for the second quarter of FY22 stood at Rs376.02cr as compared to Rs372.30cr in the second quarter of FY21. Read more

Kaveri Seed stock rallies 2% ahead of Q2, fixes Nov 26 as the record date for dividend payout

Published on: 2:04 pm

  • Kaveri Seed Company is set to announce its financial performance for the quarter ending September 2021 (Q2FY22), on November 12. The stock rallied on Tuesday ahead of its earnings.
  • On November 12, the company's board of directors will also consider the proposal for payment of Interim Dividend for the financial year 2027-22.
  • Accordingly, the company has fixed November 26 as the record date for the purpose of payment of interim dividend. Read more

Kesoram Industries delivers robust Q2 financial earnings

Published on: 2:03 pm

  • Kesoram Industries Limited for the half year ended September 30, 2021 reported EBIDTA of Rs339cr against an EBIDTA of Rs234cr for the corresponding half year ended September 30, 2020.
  • Further, Kesoram clocked a volume of 3.47 Million tonnes of sales during the current half year as against 2.20 Million tonnes sales of the corresponding half year of previous financial year. Read more

ICRA: Indian dairy industry to grow by 9-11% in FY2022

Published on: 1:56 pm

  • Domestic milk production is estimated to increase by 5-6% in FY2022, supported by a normal monsoon and early onset of the flush season in some regions. Post the moderate impact of pandemic, the industry witnessed steady recovery in consumption across end-segments. This was further aided by improving pace of vaccination, fall in fresh Covid-19 cases, revival in economic activities; and demand from institutional and HoReCa segments which too has recovered sharply.
  • Liquid milk sales continue to be supported by in-elastic nature of demand while increasing consumption of value-added dairy products (VADP)s like ghee, butter, curd, cheese etc., support the overall dairy sales. With stable milk procurement and lower demand amidst pandemic during FY2021, industry players converted excess liquid milk to skimmed milk powder (SMP) thus resulting in elevated inventory levels and subdued SMP prices. The same is expected to be liquidated in the current year supported by revival in demand, ICRA said in the note. Read more

PG Technoplast receives approval under PLI Scheme for White Goods

Published on: 1:49 pm

  • PG Technoplast Private Limited, a wholly-owned subsidiary of PG Electroplast Limited, has received approval from the Government of India under the Production Linked Incentive Scheme for White Goods under the Air Conditioner Components category.
  • It will be investing Rs321cr over a period of five years which the company has already begun in FY2022.
  • The stock is currently trading at Rs557.05 up by Rs7.75 or 1.41% from its previous closing of Rs549.30 on the BSE. The scrip opened at Rs567.55 and has touched a high and low of Rs569.45 and Rs546.05 respectively. Read more

Tata Motors join hands with Equitas SFB to bring attractive financial solutions for customers

Published on: 1:37 pm

  • Tata Motors, India’s largest commercial vehicle manufacturer, has signed a five-year Memorandum of Understanding (MoU) with Equitas SFB, one of the country’s largest small finance banks, to bring a set of attractive financial solutions to its customers.
  • With benefits applicable across the Tata Motors small commercial vehicle (SCV) range, this tie-up will aim to facilitate seamless availability of financing for aspiring buyers. Tata Motors will leverage Equitas SFB’s strong network across the country, spanning 861 branches and 550+ CV customer touchpoints, to make these solutions accessible for customers.
  • Tata Motors SCV range has nurtured self-employment in both urban and rural areas by providing a respectable means of livelihood to nearly 30 lakh Indians. Read more

Market pulse at 1:30 PM today

Published on: 1:30 pm

  • BSE Sensex is currently 60,448.37 down 97.24 points or 0.16%.
  • Nifty50 is currently 118,053.40 down 15.15 points or 0.08%. Nifty Bank is 39,403.45 down 0.09%. Mid-cap Index is up 1.04%.
  • Tata Motors, M&M, Adani Ports, Divis Lab and Larsen & Turbo are the top gainers. Britannia, HDFC, Power Grid, HDFC Bank and Maruti are the top losers. Read more

TVS Motor clarifies on fund raise buzz for EV business; Stock up 3%

Published on: 1:23 pm

  • TVS Motor Company stocks are most active on Tuesday after fund raise buzz for EV business circulates in the market.
  • Now, the company clarified on the topic in a regulatory filing that there is no such negotiation taking place as for now.
  • Further, the company extended its clarification by informing that on Board Meeting held on October 21, 2021, the approval was granted for incorporation of a Wholly owned subsidiary to undertake its electric mobility business and the same was duly intimated to the Stock exchanges. Thus, the company has not yet incorporated the subsidiary. Read more

Reliance Industries exits from shale gas business in North America; Stock trades higher

Published on: 1:15 pm

  • Reliance Industries, step-down subsidiary, Reliance Eagleford Upstream Holding, LP (“REUHLP”) has announced the signing of agreements with Ensign Operating III, LLC (“Ensign”), a Delaware limited liability company to divest its interest in certain upstream assets in the Eagleford shale play of Texas, USA.
  • With this transaction, Reliance has divested all its shale gas assets and has exited from the shale gas business in North America.
  • A Purchase and Sale Agreement (“PSA”) has been signed between REUHLP and Ensign on November 5, 2021, for this sale. The sale is considerably higher than the current carrying value of the assets. Read More

Vedanta stock dips 2% after delisting of American Depositary shares at New York Stock exchange

Published on: 1:09 pm

  • Vedanta's move to delist American Depositary Shares (“ADSs”), representing equity shares of the Company, from the New York Stock Exchange has become effective from November 08, 2021.
  • As a consequence of the delisting becoming effective, termination of the Deposit Agreement under which the ADRs were issued (the “Deposit Agreement”) has also become effective close of trading on NYSE on November 08, 2021. Read more

Thangamayil Jewellery opens new branch in Madurai; Stock trades flat

Published on: 1:03 pm

  • Thangamayil Jewellery Limited informed the exchanges that it has opened a new branch at Kalavasal - Madurai on Sunday. The Tamil Nadu based company has now total of 50 branches operational.
  • At around 1.05 pm, Thangamayil Jewellery Ltd was trading at Rs1,258.65 per piece up by Rs5.2 or 0.41% from its previous closing of Rs1,253.45 per piece on the BSE. Read more

FDC stock soars after receiving GMP certificate from UK MHRA

Published on: 1:01 pm

  • FDC Limited has received Good Manufacturing Practice (GMP) certificate. On Tuesday, the company's stock traded on the upside front.
  • The company announced that it continues with its approved status from UK MHRA (Medicines and Healthcare Products Regulatory Agency), for the Ophthalmic facility located at Waluj, Aurangabad, Maharashtra, based on the recent GMP inspection held remotely between  06 to 09 September 2021.
  • At around 12.59 pm, FDC was trading at Rs326.70 per piece up nearly 1% on Sensex. Read More

Lupins consumer healthcare biz wins the best packaging design, graphics and brand value add award

Published on: 12:56 pm

  • Lupin-led consumer healthcare business, Lupinlife has won the Best Packaging Design -Graphics and Brand Value Add Award at the India Packaging Awards for its daily health supplement - Be One. This award is an initiative by Informa Markets in India to honour the best branding initiatives from the pharma packaging space.
  • Anil Kaushal, Head of Lupinlife Business, said, "We have received a phenomenal response to the launch of Be One and its design is as enthusing as its components. We are very humbled to receive this honour."  Read More

BSE StAR MF reaches new highs, processes 26.52 lakh transactions in a single-day on Nov 8

Published on: 12:56 pm

  • Continuing its stellar performance, BSE StAR MF, India's largest regulated Exchange-based online Mutual Funds Distribution platform created an all-new record.
  • With all mutual funds and distributors channelising their transactions through online platforms and despite the outbreak of Covid-19, BSE StAR MF has processed 26.52 lakh transactions on 8th November 2021 outdoing its previous best single-day record of 24.08 lakh transactions (on 13th September 2021).
  • In Oct’21, BSE StAR MF set a new record processing 1.60 Cr transactions for the first time with an all-time high turnover of Rs. 42,927Cr. Read More

Sobha stock hits new 52-week high after Q2 PAT rises 3-folds to Rs48.3cr on the back of best ever qu

Published on: 12:50 pm

  • Realty major, Sobha recorded a three-fold increase in its consolidated net profit to Rs48.3cr for the quarter ending September 2021 (Q2FY22), compared to Rs16.2cr a year ago same period.
  • Consolidated total income rose to Rs832.3cr in the quarter under review compared to Rs545.9cr in the corresponding period of the previous year.
  • The quarter was the best ever for the company's sales.
  • Key highlights of the sales in the Q2 are: Read more

Nifty IT trades higher amid weak markets; LTI, Wipro among top gainers

Published on: 12:50 pm

  • The Nifty IT index traded positive on Tuesday in a weak market. CoforgeMindtreeLarsen & Turbo Infotech, and Wipro led the gains while HCL Tech was the top loser on the Index.
  • The Indian equity benchmarks edged lower after a muted start despite positive global cues. At around 12.50 pm, BSE Sensex was trading at 60,422.78 down 122.83 points or 0.20% and Nifty50 at 18,047.30 down 21.25 points or 0.12%.
  • Nifty IT was trading at 35,947.00 up 164.65 points or 0.46%, touching a high of 36,117.95 and low of 35,773.35 during intraday trade on Tuesday. Read More

Aurobindo Pharma stock rises 1% despite Q2 consolidated PAT contracts to Rs697cr

Published on: 12:39 pm

  • Aurobindo Pharma Ltd reported net profits for the Sep-21 quarter were down -13.72% on yoy basis at Rs696.99cr. On a sequential basis, the net profit was down 9.48% compared to the Jun-21 quarter profits of Rs769.97cr.
  • The pharma company posted an 8.35% fall in total revenues for the Sep-21 quarter on consolidated basis at Rs5,942cr. The revenues were higher 4.21% on a sequential basis compared to Rs5,702cr in the Jun-21 quarter. Read More

Paytm IPO subscribed by 35% so far in Day 2 with retail investors portion getting oversubscribed

Published on: 12:33 pm

  • Paytm parent One 97 Communications has witnessed about 35% subscription against the total initial public offering (IPO) size so far on Day 2. The IPO has witnessed stellar demand from retail investors as the portion reserved for this category has oversubscribed.
  • At around 12.30, the maiden has received cumulative bids of 1,69,28,220 equity shares against the IPO size of 4,83,89,422 equity shares - resulting in 0.35 times subscription.
  • Of the total issue size, 75% of the IPO is reserved for qualified institutional buyers, while 15% and 10% of the portion is kept for non-institutional and retail individual investors. Read More

Market pulse at 12:30 PM today

Published on: 12:30 pm

  • Benchmark market indices remain bearish; Financial Services stocks drag while Auto stocks lead gains.
  • BSE Sensex is currently 60,361.84 down 183.77 points or 0.30%.
  • Nifty50 is currently 18,021.50 down 47.05 points or 0.26%. Nifty Bank is 39,388.50 down 0.13%. Mid-cap Index is up 1.00%.
  • Tata Motors, Divis Lab, M&M, State Bank of India, and Grasim are the top gainers. Britannia, HDFC, HDFC Bank, Maruti, and Power Grid are the top losers.
  • Nifty Auto and PSU Bank stocks lead the gains while Nifty Financial Services, FMCG and Metal stocks are under pressure.    
  • Out of 50 stocks traded on the BSE, 23 advanced and 27 declined. Read More

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