Live market updates

15th Nov, 2021

CRISIL reaffirms credit rating of Deccan Cements; Stock ends lower

Published on: 4:50 pm

  • CRISIL Ratings Limited has reaffirmed the ratings of Deccan Cements Limited credit facilities. The credit rating agency reaffirmed the long-term rating of the company at CRISIL AI; Stable and short-term rating at CRISIL A1.
  • Deccan Cements Ltd stock trade on Monday ended at Rs675.30 per piece down by Rs16.9 or 2.44% from its previous closing of Rs692.20 per piece on the BSE. Read more

TCS helps Juniper Networks digitally transform customer experience

Published on: 4:42 pm

  • Tata Consultancy Services (TCS) announced on Monday that it has worked alongside Juniper Networks, a leader in secure, AI-driven networks, to successfully roll out a new service platform to deliver superior experiences to its customers and partners.
  • As part of its vision to deliver experience-first services, Juniper is transforming its digital support tools to simplify experiences for IT and operations, teams, running networks. As part of this strategy, Juniper Networks chose TCS, their trusted transformation advisor, to digitally reimagine customer service experiences and make them intelligent, personalized, and easy-to-use for its customers across various industries. Read more

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Aurionpro implements Murex Version Upgrade for leading Malaysian Bank

Published on: 4:40 pm

  • Aurionpro Solutions Ltd has announced the successful implementation of the version upgrade of Murex application at for one of the leading banks in Malaysia.
  • Aurionpro, having a team of experienced resources with the requisite skills & experience, successfully completed implementation with smooth transition to the higher version of system post go-live.
  • Commenting on to this Murex implementation Soni Hemnani - Managing Director of the division, said that “We are pleased to announce this successful implementation. In the wake of disruptions caused due to pandemic, it was our first 100% remote implementation. Read more

Sterling and Wilson Solar reports consolidated net loss at Rs284.35cr in Q2FY22; Stock ends 4% lower

Published on: 4:31 pm

  • Sterling and Wilson Solar Limited (SWSL), one of the leading solar EPC and O&M solutions provider, announced its unaudited financial results for the quarter and half year ended September 30, 2021.
  • The company’s revenue from operations for Q2FY22 stood at Rs1,438.42cr from Rs1,336.63cr in Q2FY21. Revenues in H1FY22 grew 9.5% yoy at Rs2,633cr against Rs2,404.53cr in H1FY21.
  • However, the profitability continues to remain impacted due to the challenging environments across the entire solar industry value chain. The company reported a consolidated net loss of Rs284.35cr in Q2FY22 against a consolidated net profit of Rs15.09cr in Q2FY21. Read more

Deepak Fertilizers net profit at Rs90.82cr, up 14.48% yoy in Q2

Published on: 4:17 pm

  • Deepak Fertilizers & Petrochemicals posted a consolidated net profit which jumped by 14.48% to Rs90.82cr in the quarter ended September 2021. The company’s net profit stood at Rs79.33cr during the previous quarter ended September 2020.
  • Sales also rose 27.69% to Rs1793.01cr in the quarter ended September 2021 as against Rs1404.19cr during the previous quarter ended September 2020.
  • The stock ended at Rs383 down by Rs13.75 or 3.47% from its previous closing of Rs396.75 on the BSE. The scrip opened at Rs390.35 and has touched a high and low of Rs395.55 and Rs377.20 respectively. Read more

KPI Global bags order of 2.60 MWdc solar power plant; Stock ends 5% higher

Published on: 4:16 pm

KPI Global Infrastructure Ltd has informed that the company has bagged an order for executing solar power project of 2.60 MWdc capacity from below mentioned clients under 'Captive Power Producer (CPP)' Segment of the Company:
  • Manish Packaging Priivate Limited with capacity of 1.40 MWdc.
  • Revival Papers Mills Private Limited 1.20 MWdc. Read more

Dish TV India reports 41% yoy decline in Q2 PAT at Rs354 million

Published on: 4:14 pm

  • Dish TV India Limited on Saturday reported second-quarter fiscal 2022 unaudited consolidated subscription revenues of Rs6,445 million, a decline of Rs15.8% yoy from Rs7,657 million in Q2FY21. Operating revenues of Rs7,181 million, 15.1% lower against Rs8,464 million in Q2FY21.
  • EBITDA for the quarter was Rs4,270 million, a decline of 18.7% yoy from 5,253 million in Q2Y21. Profit after tax was Rs354 million in Q2FY22, a decline of 45.1% yoy from Rs645 million in Q2FY21.
  • The Board of Directors of the company has approved and taken on record the unaudited consolidated financial results of Dish TV India Limited and its subsidiaries for the quarter ended September 30, 2021. Read more

PPAP Automotive profit declines 54.99% yoy in Q2

Published on: 4:06 pm

  • PPAP Automotive Ltd. has declared its un-audited Financial Results for the Quarter and half year ended 30th September 2021
  • The net profit was down 54.99% to Rs1.67cr in the quarter ended September 2021 as against Rs3.71cr during the previous quarter ended September 2020.
  • The sales, however, increased by 27.52% to Rs105.94cr in the quarter ended September 2021 as against Rs83.08cr during the previous quarter ended September 2020. Read more

Mrs. Bectors Food Specialities Q2 PAT declines 21% yoy at Rs18cr

Published on: 3:55 pm

  • Mrs. Bectors Food Specialities Limited, one of the leading companies in the premium and mid-premium biscuits segment in North India under the brand ‘Cremica’ and a leading premium bakery player in India under the brand ‘English Oven’ announced its Unaudited Financial Results for the Quarter and half year ended September 30, 2021
  • The company’s revenues stood at Rs246cr in Q2FY22, a rise of 8% yoy from Rs228cr in Q2FY21. EBITDA at Rs35cr, a decline of 8% yoy from Rs38cr. Profit After Tax was at Rs18cr, a decline of 21% yoy from Rs23cr. Read more

IntraSoft Technologies hits new 52-week high post Q2 financial earnings

Published on: 3:42 pm

IntraSoft Technologies Ltd has announced its Results for the Quarter and Half Year ended September 30, 2021.

Q2 FY 2021-22 HIGHLIGHTS:
  • Revenue for the quarter was Rs102.08cr, as against Rs103.38cr in the previous quarter.
  • Net Profit for the quarter was Rs3.45cr, as against Rs2.91cr in the previous quarter Read more

Markets close on a flat note; Pharma Stocks outperformed

Published on: 3:38 pm

  • Markets witnessed a lacklustre day of trade, with the benchmark index trading in a narrow band.
  • Bank Nifty marginally underperformed the Nifty by ~0.1% with both the indices closing on a flat note.
  • Nifty Parma index was among the top outperformers closing with ~1.5% higher with stocks like Cipla, Lupin & Glenmark Pharma adding fresh long positions.  
  • Nifty Midcap 100 index closed ~0.25% higher. Read more

Jindal Poly Films consolidated net profit higher by over 3% yoy in Q2; stock slips 5%

Published on: 3:37 pm

  • Shares of Jindal Poly Films slumped 5% on the BSE on Monday trade. The net profit of Jindal Poly Films rose marginally 3.23% to Rs254.31cr in the quarter ended September 2021 as against Rs246.36cr during the previous quarter ended September 2020.
  • The sales increased by 33.47% to Rs1456.43cr in the quarter ended September 2021 as against Rs1091.23cr during the previous quarter ended September 2020.
  • Further, the company informed that JINDAL INDIA SOLAR ENERGY LIMITED, a wholly-owned subsidiary of the company has received a letter of award from India Renewal Energy Development Ltd. (A Government of India Enterprises) for setting up manufacturing capacities for High-Efficiency Solar PV Modules under the MNRE Production Linked Incentive scheme (PLI). Read more

PC Jewellers to initiate resolution after borrowing accounts turn NPAs; Stock ends 11% down

Published on: 3:35 pm

  • PC Jewellers announced that it has decided to initiate resolution after borrowing accounts became NPAs in 13 out of 14 banks under the consortium arrangement.
  • On Monday, the company's stock was under pressure.
  • As per the regulatory filing, PC Jeweller said that "this is to inform you that consequent to the Company’s accounts turning NPA with its consortium lenders, the Board of the Company in its meeting held ie. November 14, 2021, has decided to initiate resolution/restructuring of its working capital loans/borrowings." Read more

P. Jayarama Bhat: Karnataka Bank is poised to create many new bench marks

Published on: 3:27 pm

  • On his retirement from his service after completing his term approved by the RBI, P Jayarama Bhat, Part-time Non – Executive Chairman of Karnataka Bank said that "it has been a privilege and an honour for me to serve Karnataka Bank for such a long period of nearly 5 decades in different capacities."
  •  CEO, Board of Directors, former Directors and all the present and retired members of KBL family for the support given during my stint at the Bank. As we approach Centenary Year of the Bank, I am sure that Karnataka Bank will create many new benchmarks in the Indian banking industry”.
  • Further, he welcomed Pradeep Kumar, the new Chairman of the Bank. Read More

Tata Power stock gains after Resurgent Power Ventures wins LoI from PTC India Financial Services

Published on: 3:19 pm

  • Tata Power announced that the lenders of NRSS XXXVI Transmission Limited (NRSS XXXVI), PTC India Financial Services Ltd (PFS), have issued a Letter of Intent (LOI) selecting Resurgent Power Ventures Pte Ltd (Resurgent) as Lender’s Nominee to acquire 100% shareholding in NRSS XXXVI.
  • The transaction is a part of the stressed transmission asset resolution process initiated by PFS through a competitive bidding process. Read More

CARE assigns A1+ credit rating for Nilkamal commercial paper programme

Published on: 3:16 pm

  • Nilkamal Limited informed the exchanges Friday that CARE Ratings Limited, has assigned CARE A1+ credit rating for the proposed commercial Paper issue of Rs50cr (aggregating to rated Commercial Paper limit of Rs100cr).
  • Towards close of trade Nilkamal Ltd was trading at Rs2,387.30 per piece down by Rs3.65 or 0.15% from its previous closing of Rs2,390.95 per piece on the BSE.
  • The scrip opened at Rs2,380.05 and has touched a high and low of Rs2,401.15 and Rs2,358.95 respectively. Read More

Thomas Cook (India) narrows net loss to Rs85.17cr in Q2FY22; Stock slumps 4.5%

Published on: 3:10 pm

  • Thomas Cook (India) Limited (TCIL) India’s largest integrated travel services company, on Friday announced its financial results for the quarter ended September 30, 2021. Consolidated net loss of the company narrowed to Rs85.17cr in Q2FY22 against net loss of Rs100.09cr.
  • Consolidated revenue for the quarter increased by 148% yoy to Rs351.3cr from Rs141.8cr for Q2FY21. At an EBITDA level the company reported a loss of Rs61.2cr in Q2FY22 vs Rs67.8cr in Q2 FY21; but on a sequential basis (against Q1FY22) the company reduced its loss by 24% from Rs80.8cr. Read More

PG Electroplast expects robust sales growth and better operating leverages in H2FY22; Q2 PAT rises 4

Published on: 3:09 pm

  • PG Electroplast (PGEL) has announced its results for the quarter ended September 30th, 2021, as approved by its Board of Directors. Quarterly Net profit stood at Rs 46.4 million versus Rs 31.7 million in 2QFY2021 – growth of 46.5%. While net revenues for the quarter were Rs 2003 million – a growth of 30.6% YoY.
  • Vishal Gupta, Managing Director (Finance) of the Company said, "The aftereffects of COVID-19’s second wave shutdowns led to slow pickup for the quarter, thus impacting the sales growth. Some products like AC IDUs were particularly affected, where one-off expenses, subdued the operating margins for the quarter temporarily. However, significant progress has been made on several fronts and the company expects to see robust sales growth and better operating leverages in 2HFY2022." Read more

3i Infotech completes sale of software product biz of its subsidiary in Saudi Arabia; stock hits 52-

Published on: 3:08 pm

  • 3i Infotech said in the regulatory filing on Friday that the company has completed the sale of the software product business of its subsidiary in Saudi Arabia on a going concern basis to Azentio Software (and its affiliates) (Buyer), pursuant to inter alia the business transfer agreement on December 28, 2020, executed between the Company and the Buyer.
  • The stock is currently trading at fresh 52-week high of Rs74.85, up by Rs3.55 or 4.98% from its previous closing of Rs71.30 on the BSE. Read More

Numaligarh Refinery awards EPC contract to thyssenkrupp

Published on: 3:01 pm

  • Numaligarh Refinery Limited (NRL) has awarded an EPC Contract to thyssenkrupp Industrial Solutions India (tkIS India) in the range of approximately USD 155 Million to execute their 6.0 MMTPA Crude Distillation Unit and Vacuum Distillation Unit with Amine Treating Unit project on LSTK basis at their refinery located in Assam, India.
  • NRL, as part of Numaligarh Refinery Expansion Project (NREP), is expanding its refining capacity from the current 3 MMTPA to 9 MMTPA by installing a new 6 MMTPA capacity CDU/VDU and associated downstream process units, utility & offsite.
  • The scope of EPC work of this project includes Engineering, Project Management, Procurement, & Supply, Inspection & Expediting, Construction Management & Supervision, Mechanical Completion & Pre-commissioning of Plant, Commissioning, Start up, PGTR & Hand over of plant. Read More

Ind Ra upgrades credit rating of KNR Constructions' bank facilities

Published on: 2:54 pm

  • India Ratings and Research (Ind-Ra) has upgraded KNR Constructions Limited’s (KNRCL) Long-Term Issuer Rating to ‘IND AA’ from ‘IND AA-’ and short-term facilities has been reaffirmed as 'IND A1+'. The Outlook is Stable.
  • According to the rationale report, Ind-Ra continues to consider KNRCL’s standalone financials, while factoring in the cash outflow towards the equity required to be infused by the company in its under-construction hybrid annuity model (HAM) projects.
  • The agency has also factored in potential support requirements for the company’s operational build-operate-transfer projects. The agency has not consolidated the debt of these projects since the same is on a non-recourse basis. Read More

HCC-KEC JV wins Rs1,309cr Chennai Metro order

Published on: 2:54 pm

  • Hindustan Construction Company Ltd. (HCC), in consortium with KEC International Limited (KEC), has been awarded a Rs1,309cr contract by Chennai Metro Rail Limited for the construction of 11.61 km elevated viaduct section and eleven elevated stations on Corridor 5 of phase II of the Chennai Metro.
  • This is the second order secured by the HCC-KEC Consortium for Chennai Metro, as per the filing.
  • HCC share in the JV is 51% (i.e. Rs668cr). Read more

TeamLease Services plunges over 6% after Q2 loss of Rs49cr

Published on: 2:43 pm

  • TeamLease Services Limited, one of India’s largest staffing companies, on Friday announced its results for the second quarter (Q2FY22) of the financial year ending March 31, 2022.
  • The company reported an adjusted loss of Rs49cr on account of loss provisions in its PF trust on DHFL investment resolution. It had reported Rs26.9cr profit after tax in Q1FY22 and Rs18.6cr profit after tax in Q2FY21.
  • The company stock plunged post Q2 earnings. At around 2.48 pm, Team Lease Services Ltd was trading at Rs4,357.65 per piece down by Rs300 or 6.44% from its previous closing of Rs4,657.65 per piece on the BSE. Read more

Brightcom Group Q2 PAT doubles at Rs212.15cr; stock hits upper circuit

Published on: 2:43 pm

  • Brightcom Group, the AdTech major, has put forward impressive performance in its Second Quarter Financial Results Q2FY22.
  • The PAT for the quarter more than doubled to Rs 212.15 crores from Rs 103 crores in Q2 last year.
  • The company reported a strong quarter, with consolidated revenues rising 73% YOY and PAT rising 106% YOY. Read More

Nifty Pharma emerges top gainer, index soars 1.5% on broad-based buying; Laurus Labs jumps 9%; Bioco

Published on: 2:35 pm

  • Pharma stocks were among top picks on Monday on broad-based buying amid broader bullish markets. Nifty Pharma has surged nearly 2%. The index has hovered between an intraday high and low of 13,994.10 and 13,770.90, respectively. Corporate earnings continue to influence markets outlook.
  • At around 2.34 pm, Nifty Pharma was trading at 13,990.50 up 215.85 points or 1.57%. On the index, 18 scrips advanced and 2 scrips declined.
  • Laurus Labs was the top gainer soaring nearly 9% followed by Biocon surging 4.3%. Gland Pharma jumped nearly 3%. Read more

Market pulse at 2:30 PM today

Published on: 2:30 pm

  • Indices regain momentum to trade higher in the afternoon session as the pharma stocks lead.
  • BSE Sensex is at 60,831.42 up 144.73 points or 0.24%.
  • Nifty50 is at 18,138.60 up 35.85 points or 0.2%. Nifty Bank is 38,747.60 up 0.04%. Mid-cap Index is up 0.46%.
  • Power Grid, ITC, Cipla, ONGC, and UPL are the top gainers. Coal India, Hindalco, Tata Steel, Bajaj Auto, and JSW Steel are the top losers.
  • Nifty Pharma, IT, FMCG, and Consumer Durables stocks drive trade on Monday while Nifty Metal stocks drag the most.  
  • Out of 50 stocks traded on the BSE, 26 advanced and 24 declined. Read More

NALCO logs best ever quarter in a decade, Q2 PAT skyrockets whopping 600% to Rs748cr

Published on: 2:30 pm

  • National Aluminium Company Limited (NALCO) registered a handsome rise in net profit for Q2 FY 21-22 at Rs748cr, posting a jump of 600% over Rs107cr achieved during the corresponding period of last year. This is one of the strongest performances in a decade, with Net Profit soaring to Rs1095cr at the half-yearly stage. The net profit has soared by 783% to Rs1095cr, as against Rs124cr for the corresponding period of the previous year.
  • During the quarter, the total income from operations is Rs3592cr, registering 51 % growth over Q2 of FY 20-21, which was Rs2375cr. Read More

Infosys Science Foundation to announce the winners of 13th Infosys Prize

Published on: 2:26 pm

  • Infosys Ltd-led The Infosys Science Foundation (ISF) will announce and felicitate the laureates of the Infosys Prize 2021 on December 02, 2021. The Infosys Prize celebrates success in research and stands as a marker of excellence in science and research. It also aims to inspire young scholars to choose a vocation in research.
  • The Prize comprises a gold medal, a citation, and a purse of USD 100,000 (or its equivalent in Rupees) and is awarded in six categories: Engineering and Computer Science, Humanities, Life Sciences, Mathematical Sciences, Physical Sciences, and Social Sciences. Winners will be felicitated by Gagandeep Kang, FRS - Professor at CMC Vellore, Infosys Prize laureate and one of India’s leading virologists. Read more

Cupid stock dives over 3% after Q2 financial performance

Published on: 2:25 pm

  • Cupid stock was under pressure on Monday after presenting a financial performance for the quarter ending September 2021 (Q2FY22).
  • Key highlights of the Q2 are:
  • Total Operating income was Rs327.9 million (mn) for Q2FY22 as compared to Rs294.6 mn in the corresponding period of the previous year, an increase of 11.3%.
  • EBITDA stood at Rs68.0 mn as compared to Rs101.3 mn during the corresponding period of the previous year.
  • EBITDA Margin at 20.7% for Q2FY22 as against 34.4% in Q2FY21.
  • Net profit stood at Rs44.4 mn for Q2FY22 as compared to Rs70.8 mn in the corresponding period of the previous year.
  • Basic EPS stood at Rs3.33 as against Rs5.31 in Q2FY21. Read More

Hero MotoCorp registers Q2 PAT of Rs794.40cr down 16.7% yoy; Gears up to launch EV in March 2022

Published on: 2:10 pm

  • Two-wheeler giant, Hero MotoCorp registered a standalone net profit of Rs794.40cr in Q2FY22 declining by 16.7% yoy due to lower volumes. The automaker's net profit stood at Rs953.45cr in the same quarter last year.
  • The company's revenue from operations was at Rs8453.40cr declining by 11% from Rs9367.34cr in Q2 of last year. Read More

WPI inflation spikes to 5-month high at 12.54% in October 2021

Published on: 1:41 pm

  • India's annual wholesale price-based inflation has accelerated to a 5-month high of 12.54% in October 2021. According to the Ministry of Commerce & Industry, the annual rate of inflation is 12.54% (Provisional) for October 2021 (over October 2020) as compared to 1.31% in October 2020.
  • The high rate of inflation in October 2021 is primarily due to the rise in prices of mineral oils, basic metals, food products, crude petroleum & natural gas, chemicals and chemical products etc. as compared to the corresponding month of the previous year. Read More

Market pulse at 1:30 PM today

Published on: 1:30 pm

  • BSE Sensex is currently 60,691.51 up 4.82 points or 0.01%.
  • Nifty50 is currently 18,104.00 up 1.25 points or 0.01%. Nifty Bank is 38,676.00 down 0.15%. Mid-cap Index is up 0.11%.
  • Power Grid, UPL, ONGC, Cipla, and Asian Paints are the top gainers. Coal India, Tata Steel, Hindalco, Bajaj Auto, and M&M are the top losers.
  • Nifty Pharma, IT, FMCG, and Consumer Durables stocks rise to drive trade on Monday while Nifty Metal, Media and PSU Bank stocks drag the most.  
  • Out of 50 stocks traded on the BSE, 24 advanced and 26 declined. Read more

MaxVIL plunges 11% after the announcement to sell entire stake in packaging film biz for Rs600-650cr

Published on: 1:28 pm

  • Max Ventures & Industries Limited (MaxVIL), one of the three holding companies of the $4-Bn Max Group, has entered into a definitive agreement with its existing Japanese strategic partner in Max Speciality Films Limited – Toppan Printing – to divest its remaining 51% stake in the specialty packaging films business for an enterprise value of Rs1,350cr, translating into an equity value of about Rs600-650cr (subject to customary adjustments).
  • Toppan would also be taking over the debt of MSFL as part of the deal. After acquisition of 49% stake in 2017 for about Rs200cr Toppan became a strategic partner of MaxVIL. Read More

Coal India stock dives 4% after missing estimates in Q2, PAT stood at Rs2,936cr

Published on: 1:20 pm

  • State-owned Coal India stock was under pressure on Monday after missing the street's expectations in financial performance for the quarter ending September 2021.
  • The largest coal producer in India has posted a consolidated net profit of Rs2,936cr in Q2FY22 slightly down from a profit of Rs2,948.12cr in the same quarter last year.
  • The latest PAT was drastically down from Rs3,169.86cr of the preceding quarter.
  • Consolidated revenue from operations were at Rs23,291.08cr in Q2FY22 versus Rs21,153.097cr of Q2FY21. However, revenue was down from Rs25,282.15cr of Q1FY22. Read More

SJS Enterprises start tepid listing on stock exchange

Published on: 1:17 pm

  • Shares of SJS Enterprises Limited on Monday made a weak debut on the stock exchange. The shares opened for trading at Rs540 per share compared with its issue price of Rs542 per share on the BSE.
  • The stock is currently trading at Rs534.50 down by Rs7.5 or 1.38% from its previous closing of Rs542 on the BSE. The scrip opened at Rs540 and has touched a high and low of Rs551 and Rs508.75 respectively.
  • The initial public offer (IPO) of SJS Enterprises received bids for 1,67,97,537 shares against 1,05,46,140 crore shares on offer. The issue was subscribed 1.59 times on the last day. Read More

Nifty IT stocks gain amid sluggish trade; Mphasis, Coforge, Infosys outperform

Published on: 1:10 pm

  • Nifty IT Index rose 0.7% points amid overall muted trade on Monday. MphasisCoforge, and Infosys outperformed while Larsen & Toubro Infotech Ltd and HCL Tech were trading in the red.
  • Indian equity benchmarks Sensex and Nifty50 started Monday's session on a positive note amid gains across global markets. Sensex up over 50 points, Nifty50 near 18,100 as the market gives up most of the day's gains. Read more

ONGC posts highest ever quarterly net profit of Rs18,348cr in Q2FY22, declares dividend; Stock jumps

Published on: 1:00 pm

  • State-owned ONGC has set a new milestone by reporting the highest ever quarterly net profit. ONGC posted a net profit of Rs18,348cr in the quarter ending September 2021 (Q2FY22) rising by a breathtaking 565.3% from Rs2,758cr in the same period last year. At the current level, ONGC's profit is the highest in a quarter for any Indian company to date.
  • Gross revenue for the quarter is at Rs24,353cr in the quarter under review increasing by a whopping 44% from Rs16,916cr in the corresponding period of the previous year. Read more

Lemon Tree Hotels unveils new hotel in Mcleodganj in Himachal Pradesh, to open in Sept 2022; Stock g

Published on: 12:57 pm

  • Lemon Tree Hotels Limited has announced its latest hotel signing- Lemon Tree Hotel, Mcleodganj, in Dharamshala, Himachal Pradesh. This hotel, owned by M.K Enterprises, is expected to open in September 2022.
  • Nestled amidst the majestic hills and lush greenery, Mcleodganj is a hill station suburb of Dharamshala. Popular amongst trekkers, itis culturally blessed by a prominent Tibetan influence. Mcleodganj has one of the most mesmerising landscapes in Himachal Pradesh and attracts throngs of tourists throughout the year. Read more

Aster DM Healthcare arm acquires 49% stake in Sanghamitra Hospitals; Stock gains

Published on: 12:51 pm

  • Aster DM Healthcare Limited subsidiary Dr. Ramesh Cardiac and Multispeciality Hospital Private Limited (DRCMH) has acquired a 49% stake in Sanghamitra Hospitals Private Limited (SHPL) at a consideration of Rs59.40cr.
  • Ata round 12.54 pm, Aster DM Healthcare Ltd was trading at Rs209.50 per piece up by Rs1.8 or 0.87% from its previous closing of Rs207.70 per piece on the BSE.
  • “DRCMH, a subsidiary of the company, has entered into Share Purchase Agreements on November 12, 2021, with the Key Promoters and Minority Shareholders (Sellers) of SHPL, a step-down subsidiary company, for acquiring additional equity shares representing 49% of the paid-up share capital of SHPL. Read More

Yes Bank acquires 7.21% of Asian Hotels (North); Stocks tumble

Published on: 12:46 pm

  • Private lender, Yes Bank has acquired 14,02, 991 equity shares having face value of Rs10 per share by way of invocation of pledge, constituting 7.21 % of the issue paid-up share capital, of a listed company, namely, Asian Hotels (North) Limited.
  • Yes Bank said that "shares acquired on invocation of pledge subsequent to default/breach of terms of Loans to the Borrower and accordingly proceeds from sale of shares will be utilized to reduce the loan secured by such shares."
  • Asian is a 41 years old company that operates in the Hospitality Sector. Read more

Ankit Metal & Power board nods for capacity expansion of pellet plant to 12,00,000 MT

Published on: 12:38 pm

  • Ankit Metal & Power Ltd has informed that the Board of Directors on November 13, 2021 has approved further capacity expansion of its Pellet Plant from 6,00,000 MT per annum to 12,00,000 MT per annum.
  • Existing Capacity of the plant is 6,00,000 MT per annum where capacity utilization is 70% as on September 2021 and may vary subject to the availability of raw material.
  • Proposed capacity addition is 6,00,000 MT per annum and the investment required is Rs125cr. Read More

Sigachi Industries makes bumper market debut; shares list at 253% premium on BSE

Published on: 12:38 pm

  • Shares of Sigachi Industries made a bumper market debut on Monday. The stock opened for trading at Rs575 on the BSE compared with its issue price of Rs163 per share, marking an upside of 3.52 times or 253%.
  • On the National Stock Exchange (NSE), the shares opened for trading at Rs570, marking an upside of Rs407 from the issue price. The stock rose as much as 270% from the issue price to hit an intraday high of Rs603.75 per share.
  • The stock is currently trading at Rs603.75 up by Rs440.75 or 270.4% from its previous closing of Rs163 on the BSE. The scrip opened at Rs575 and has touched a high and low of Rs603.75 and Rs570.45 respectively. Read More

IDBI Bank posts a divergence of Rs741cr in gross NPA for period ending March 2021; Stock near day's

Published on: 12:36 pm

  • Lender, IDBI Bank has reported a divergence of Rs741cr in gross NPA for the quarter ending March 2021. The Bank has announced its divergence in asset classification and provisioning for NPAs.
  • As per the regulatory filing, gross NPA reported by the Bank as of March 2021 was at Rs36212cr, while gross NPA reported by RBI for the Bank is Rs36953cr for the same period - resulting in a divergence in NPA to Rs741cr.
  • Further, as of March 2021, IDBI Bank posted a net NPA of Rs2519cr while nett NPA of Rs3260cr was assessed by RBI - leading to a divergence in net NPA of Rs741cr. However, IDBI Bank said that if incremental provisions have been considered, divergence in Net NPAs would be of Rs47cr. Read More

Market pulse at 12:30 PM today

Published on: 12:30 pm

  • Benchmark market indices give up early gains to trade flat.   
  • BSE Sensex is currently 60,710.74 up 24.05 points or 0.04%.
  • Nifty50 is currently trading flat at 18,103.10. 
  • Nifty Bank is 38,666.45 down 0.17%. Mid-cap Index is up 0.01%.
  • Power Grid, UPL, ONGC, ITC, and Cipla are the top gainers. Coal India, Hindalco, Tata Steel, M&M, and JSW Steel are the top losers.
  • Nifty Pharma and Healthcare stocks continue to drive trade on Monday while Nifty Metal stocks drag the most.  
  • Out of 50 stocks traded on the BSE, 23 advanced and 27 declined. Read More

Policybazaar stocks list at 17.35% premium over issue price

Published on: 12:26 pm

  • PB Fintech, which operates online insurance aggregator Policybazaar, made a strong debut at the exchanges on Monday. The stock gained 17.35% over its issue price at Rs980 to list at Rs1,150 per share.
  • The stock had touched an intraday high of Rs1,205 with the market capitalisation has surged to Rs52,793cr.
  • PB Fintech Ltd is currently trading at Rs1,227 up by Rs247 or 25.2% from its previous closing of Rs980 on the BSE. The scrip opened at Rs1,150 and has touched a high and low of Rs1,228 and Rs1,145 respectively. Read More

Jindal Poly Films' subsidiary bags order for setting up manufacturing capacities for solar PV module

Published on: 12:19 pm

  • Jindal Poly Films Ltd has informed that JINDAL INDIA SOLAR ENERGY LIMITED, a wholly owned subsidiary of the Company has received letter of award from India Renewal Energy Development Ltd. (A Government of India Enterprises) for Setting up Manufacturing Capacities for High Efficiency Solar PV Modules under the MNRE Production Linked Incentive scheme (PLI).
  • Salient feature of the award is mentioned as under:
  • Manufacturing Capacity to be installed is 4000MW.
  • Eligible Capacity (for Claiming PLI) is 2000MW.
  • Extent of Integration (stages of manufacturing) is Polysilicon + Ingots-Wafers+ Cells+ Module (Stage1 + Stage-2+ Stage- 3 +Stage-4) Read More

Nifty FMCG stock edge over 200 points higher; P&G Hygiene, ITC drive performance

Published on: 12:10 pm

  • Nifty FMCG index rose 0.5% amid overall flat trade on Monday. Procter & Gamble Hygiene and ITC outperformed to lift the sector while Emami, Varun Beverages, and United Spirits were under heavy pressure. Quarterly earnings remain the focus of the investors.
  • Indian equity benchmarks Sensex and Nifty50 started Monday's session on a positive note amid gains across global markets. Sensex up over 50 points, Nifty50 near 18,100 as the market gives up most of the day's gains. Read More

Palred Tech tumbles 5% despite pTron boosts its Q2 revenue by 53% yoy at Rs72cr

Published on: 11:49 am

  • Palred Technologies Limited, a Technology Solutions player across Consumer Electronics, eCommerce, and IT Solutions industries has announced its financial results for the first half for FY 2021-2022.
  • Financial Highlights:
  • Consolidated Revenue at Rs74.72cr for the first half; growth of 36% yoy
  • Consolidated Revenue at Rs47.55cr for the quarter; growth of 19% yoy
  • Revenue generated by pTron brand stood at Rs72.58cr in first half of FY 2021-22, compared to Rs47.36cr in first half of FY20-21 Read more

Glenmark Pharma reports revenue growth of 6.6% and PAT growth of 10.1% yoy for Q2FY22; Stock gains ~

Published on: 11:49 am

  • Glenmark Pharmaceuticals Limited, a research-led global integrated pharmaceutical company, on Friday announced its financial results for the second quarter ended September 30, 2021.
  • For the second quarter of FY22, Glenmark’s consolidated revenue was at Rs3,147.4cr as against Rs2,952.5cr recording an increase of 6.6% yoy. Consolidated EBITDA was at Rs590.2cr in the quarter ended September 30, 2021 as against Rs569.9cr in the previous corresponding quarter, registering an increase of 6.8% yoy.
  • The company’s Profit after Tax (PAT) was at Rs257.7cr for the quarter ended September 30, 2021 as compared to Rs234cr in the previous corresponding quarter, recording a growth of 10.1% yoy. Read More

Arvind Fashion Q2 revenue rises 113% yoy led by continued growth in online biz

Published on: 11:34 am

  • Arvind Fashions Limited (AFL), India’s leading casual and denim player, has declared its financial results for the second quarter and half year ended September 30, 2021.
  • Key Highlights
  • Q2 FY22 revenues grew by 113% to Rs812cr compared to Q2 FY21. This was driven by significant easing of COVID related restrictions resulting in strong footfalls across retail channel and continued growth in online business. Sales recovery was 90%+, compared to pre-COVID levels of Q2 FY20
  • Power brands grew by ~145% with significantly improved profitability on Y-o-Y basis Read More

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