Published on: 4:50 pm
- HCL Technologies (HCL), a leading global technology company has announced a new multi-year application deal with Euroclear Group to accelerate its agile transformation journey with technologies and working practices to improve its digital capabilities.
- HCL will work with Euroclear, the world's largest provider of domestic and cross-border settlement and related services for bond, equity and fund transactions, to explore new business models and market opportunities to create value through innovation and data monetization. Read more
Published on: 4:25 pm
- Tata Consultancy Services has announced a strategic transformation engagement with Zebra Technologies Corporation (NASDAQ: ZBRA), a market leader in industry-tailored solutions that make every front-line worker and asset at the edge visible, connected and fully optimized.
- Zebra provides an award-winning portfolio of purpose-built hardware, software, services, and solutions that digitize and automate workflows for the retail, manufacturing, transportation and logistics, supply chain, healthcare, and government sectors. It selected TCS to help drive its IT Agile transformation and provide DevSecOps services to continue its focus on innovation. Read more
Published on: 3:55 pm
- CRISIL Ratings Limited has assigned CRISIL A1+ rating for the Commercial Paper progamme of Solar Industries India Limited amounting to Rs50cr.
- “For the purpose of issuance of the commercial paper programme, this letter is valid for 30 calendar days from the date of the letter.
- In the event of your company not placing the above instrument within this period, or in the event of any change in the size/structure of your proposed issue, the rating shall have to be reviewed and a letter of revalidation shall have to be issued to you. Once the instrument is issued, the above rating is valid (unless revised) throughout the life of the commercial paper programme with a maximum maturity of one year,” company shared CRISIL’s statement. Read more
Published on: 3:36 pm
- Markets witnessed a negative day of trade, with the benchmark index trending lower for the major part of the trade.
- Bank Nifty underperformed the Nifty by ~0.4% with both the indices closing in the red.
- Banking stocks were among the top underperformers for the fourth consecutive trading session with stocks like HDFC Bank, SBI, Kotak Bank & ICICI Bank adding fresh short positions. Read more
Published on: 3:32 pm
- Thomas Cook (India) Limited and its Group Company, SOTC Travel have announced Undiscovered Antarctica – taking Indians on a voyage of discovery of the magnificent 7th Continent. This distinctive holiday presents the awe-inspiring beauty of Antarctica while on-board a 10-day sailing on Ponant’s luxury cruise ship, L’ Austral.
- The lockdowns/restrictions of the pandemic have given Indians a new-found appreciation for travel and a strong desire for truly exceptional/ bucket-list experiences - away from crowds.
- To tap into this growing travel trend, Thomas Cook India and SOTC have introduced an adventure of a lifetime via its Undiscovered Antarctica luxury cruise holiday. Read more
Published on: 3:31 pm
- Mindteck (India) Limited, the global engineering and technology solutions company with niche knowledge and expertise in the storage, medical device, semiconductor, and analytical instrument industries, reported its unaudited financial results for the second quarter ended September 30, 2021.
- The company’s consolidated revenue for the quarter stood at Rs75.97cr as against Rs73.42cr for the previous quarter ended June 30, 2021, and Rs72.81cr for the corresponding quarter ended September 30, 2020.
- Consolidated net profit for the quarter stood at Rs4.41cr as against a profit of Rs21.46cr (that included an exceptional item of Rs18.18cr) for the previous quarter ended June 30, 2021, and Rs2.32cr for the corresponding quarter ended September 30, 2020. Read more
Published on: 3:19 pm
- Shalimar Paints Limited engaged in the manufacturing and marketing of decorative paints and industrial coatings has declared its Un-audited financial statements for the Quarter and Half year ended September 30, 2021.
- The company’s revenues increased to Rs90.09cr in Q2FY22 from Rs76.8cr in Q2FY21 and Rs65.2cr in Q1FY22. EBITDA loss was at Rs7.8cr from Rs4.5cr in Q2FY21 and loss of Rs8.9cr in Q1FY22. Loss after Tax was at Rs16.8cr in Q2FY22 compared to Rs3.7cr in Q2FY21 and Rs19.5cr in Q1FY22.
- Towards close of trade on Tuesday, Shalimar Paints Ltd was trading at Rs106.75 per piece up by Rs9.2 or 9.43% from its previous closing of Rs97.55 per piece on the BSE. The scrip opened at Rs99 and has touched a high and low of Rs107.50 and Rs97.20 respectively. Read more
Published on: 3:15 pm
- Union Minister for Power and Ministry of New and Renewable Energy, R. K. Singh, reviewed the implementation of the 10 GW Renewable Energy Project along with its evacuation plan.
- The Power Minister sought the support of Hon’ble LG, Ladakh to sort out the land issues in setting up of 10 GW of Renewable Energy project in Ladakh at identified areas of Pang. Hon’ble LG of Ladakh assured to extend the support of UT of Ladakh for providing land for setting up of 10 GW of RE project.
- The required transmission system along with a battery energy storage system for providing round the clock power was also reviewed. Read more
Published on: 3:06 pm
- Coromandel International on Tuesday announced the project initiation for setting up a new 1650 Metric Tonnes per day design capacity sulphuric acid plant at its fertiliser complex in Visakhapatnam at a cost of Rs400cr.
- Arun Alagappan said, “India is a net importer of sulphuric acid, and the 3rd largest importer globally, accounting for close to 20 Lakh Metric Tonnes of imports. In line with the Atmanirbhar Bharat vision of our honourable Prime Minister for import substitution and promotion of local manufacturing, Coromandel has announced the setting up of a new 1650 TPD sulphuric acid plant at Visakhapatnam. Considering the essential nature of fertilisers, this investment will improve the self-sufficiency and availability of phosphatic fertiliser in the country. I would like to thank the leadership team of MECS and TKIS for being with us here today for the event. This project is an important one for all of us involved and will play an important role in reducing the sulphuric acid imports into our country.” Read more
Published on: 3:02 pm
- RHI Magnesita India Ltd has informed to the exchange regarding establishment of R&D Centre in Rajasthan.
- As per regulatory filing, the company has established a new R&D Centre at Bhiwadi, Rajasthan.
- Further, the world class facility is equipped with high end equipment for refractory raw material and product testing. The centre would work as part of the Global R&D network of RHI Magnesita, said company. Read more
Published on: 2:58 pm
- Aban Offshore Limited informed the exchanges that after the Board approved the sale of Rigs Aban V and Aban VI owned by the company and at their meeting held on November 1, 2021. The Sale and Purchase Agreement between the parties was entered on November 15, 2021.
- The consideration receivable from such sale/disposal for Rig Aban V is USD 1,876,353 or about Rs13.98cr and the consideration receivable from such sale/disposal for Rig Aban VI is USD 2,231,339 or about Rs16.62cr.
- The company also entered a sale agreement of Rig Aban VII owned by our step-down subsidiary Aban VII Pte Ltd at USD 1,825,641 or about Rs13.59cr. It also signed sale agreement of Drillship Aban Abraham owned by its step down subsidiary Aban Abraham Pte Ltd at USD 4,766,952 or about Rs35.50cr. Read more
Published on: 2:40 pm
- Oil and Gas stocks on Indian markets were under pressure on Tuesday as oil prices globally plummetted. The Nifty Oil & Gas index has erased the 8,000-mark and traded lower on the back of a broad-based selloff. Heavyweight stocks dragged the index with Reliance Industries witnessing a steep fall among other major oil marketing companies (OMCs). On the index, currently, 13 scrips have declined while only two scrips have advanced.
- At around 2.36 pm, Nifty Oil & Gas was trading at 7,953.60 lower by 80.05 points or 1%. The index has touched an intraday high and low of 8,044.05 and 7,941.05 respectively. Read more
Published on: 2:32 pm
Vidya Mandir Classes (known popularly as VMC) has been one of the original leaders in coaching for JEE for over four decades. CL Educate brings its marketing strengths, network organisation and online machinery while VMC brings its respected brand name, legacy of strong results, academic prowess, process and systems in their respective roles. The complementarity of geographies will also enable rapid expansion into less exploited markets. Read more
Published on: 2:30 pm
- Indices fall again to day’s low after brief recovery; Pharma, Oil & Gas, Banking and Financial stocks drag; Auto stocks lead gains.
- BSE Sensex is at 60,315.40 down 403.31 points or 0.66%.
- Nifty50 is at 18,011.20 down 98.25 points or 0.54%. Nifty Bank is 38,265.00 down 1.13%. Mid-cap Index is up 0.26%. Read more
Published on: 2:16 pm
- EPL Limited, an Indian multi-national company in the business of manufacturing laminated plastic tubes, on Monday announced a major conversion of a leading brand partner Vicco Labs to 100% recyclable packaging.
- Vicco labs and EPL have jointly worked to convert Vicco’s ‘Turmeric’ range of products to recyclable Platina tubes.
- Platina 250, 300 & 350 Lamitubes have been recognized by the Association of Plastic Recyclers (APR), USA as meeting or exceeding the strict APR HDPE critical guidance criteria on recyclability. Read more
Published on: 1:35 pm
- The Reserve Bank of India (RBI) has introduced an Internal Ombudsman mechanism for select Non-Banking Financial Companies (NBFCs).
- RBI directed that Deposit-taking NBFCs (NBFCs-D) with 10 or more branches and Non-Deposit taking NBFCs (NBFCs-ND) with asset size of Rs5,000cr and above having public customer interface to appoint Internal Ombudsman (IO) at the apex of their internal grievance redress mechanism within six months from the date of issue of the direction, except for the certain type of NBFCs.
- All complaints that are partly or wholly rejected by the NBFC will be reviewed by the IO before the final decision of the NBFC is conveyed to the complainant. The IO will not entertain any complainants directly from members of the public. Read more
Published on: 1:31 pm
Q2FY22 Consolidated Financial Highlights:
- Total Income at Rs1,126.1cr, up by 3.3% on yoy basis
- EBITDA at Rs29.9cr, up by 18.1% on yoy basis Read more
Published on: 1:30 pm
- BSE Sensex is at trading flat at 60,718.52.
- Nifty50 is at 18,108.35 down 1.10 points or 0.01%. Nifty Bank is 38,478.05 down 0.58%. Mid-cap Index is up 0.29%.
- Maruti, Tata Motors, M&M, Hero MotoCorp, and Bajaj Finserv are the top gainers. Shree Cement, Tata Consumer, NTPC, SBIN, and BPCL and are the top losers. Read more
Published on: 1:29 pm
- Digital services and solutions provider, Coforge on Tuesday announced that the company has filed a Registration Statement on Form F-1 with the U.S. Securities and Exchange Commission in connection with a proposed initial public offering (“IPO”) of American Depositary Shares (“ADS”) representing its equity shares.
- The selling shareholders of the ADS will be identified through an invitation to participate in the offering. Coforge will be dispatching the relevant documents for participation in the IPO including the invitation to participate and the letter of transmittal (“Invitation to Participate Documents”) to its existing equity shareholders as on an identified date, being November 12, 2021 (the “Identified Date”). Read more
Published on: 1:14 pm
- Meghmani Organics Limited (MOL) has announced that it will enter into new and lucrative variant of White Pigment Titanium Dioxide (TiO2). The Company will set up 33,000 metric tons production facility at a total capex of INR 400 crore at Dahej, the chemical hub of Gujarat.
- Titanium Dioxide (TiO2) has application as a bright white pigment in various industries including Paint, Coating, Plastic, Ink, Dyes, Paper and Cosmetics etc.
- The aforesaid project is expected to be commissioned by Q1 FY24 adding Rs700cr to MOL’s topline on a full financial year basis. The Company eyes an EBITDA margin of 25% with robust return ratios i.e ROCE and ROE of 20%+ each. The new project will be funded by an appropriate mix of internal accruals and debt. Read more
Published on: 1:13 pm
- A volatile tone was seen in the metal sector during Tuesday's trading session. However, in the second half of the day, the Nifty Metal which was in red earlier today, was floating steadily with the majority of stocks witnessing upside. On the index, 9 scrips advanced while 6 scrips declined. Nifty Metal still traded cautiously after copper prices globally tumbled as traders reacted to China's economic data.
- At around 1.06 pm, Nifty Metal was trading at 5,631.85 up 7.55 points or 0.13%. The index has touched an intraday high and low of 5,687.50 and 5,583.45 respectively.
- Welspun Corp was the top gainer soaring 3.9% followed by Vedanta climbing 3.6%. NALCO and JSW Steel surged 1.2% and 0.7%. Read more
Published on: 1:10 pm
- The Nifty Media stocks rose on Tuesday in a weak market. The Index was nearly 1% higher despite trimming some early gains. Zee Entertainment Enterprises Limited (ZEEL), Hathway and Inox Leisure led the gains while Network18, and TV18 Broadcast also added to the gains.
- ZEEL has been bullish since getting a non-binding offer from Sony Group’s Indian unit last month and has said it is open to other proposals. The media stocks have been amongst gains in recent times fuelled by cinema operators PVR and Inox Leisure amidst easing Covid-19 restrictions allow for reopening of theatres.
- The quarterly earnings and festive atmosphere also has lifted the sentiments. Read more
Published on: 12:42 pm
- IndiaMart InterMesh Limited informed the exchanges Monday that the completion of the transaction for the acquisition of 7.70% of the share capital of Mynd Solutions Private Limited would be delayed.
- The company had earlier informed that the acquisition of 7.70% (on a fully diluted basis) of the share capital of Mynd Solutions would be completed in 10 days from October 29, 2021.
- “Due to certain unforeseen delay in processing the transaction on account of the involvement of multiple parties, the aforesaid acquisition is expected to be completed by December 15, 2021,” company said in a filing. Read More
Published on: 12:30 pm
- Benchmark market indices remain lower despite recovering some losses. Auto stocks surge 1.5%.
- BSE Sensex is currently 60,614.84 down 103.87 points or 0.17%.
- Nifty50 is currently 18,084.30 down 25.15 points or 0.14%. Nifty Bank is 38,464.25 down 0.62%. Mid-cap Index is up 0.21%.
- Maruti, Tata Motors, Hero MotoCorp, Bajaj Finserv, and Power Grid are the top gainers. Shree Cement, Reliance, Hindalco, NTPC, and BPCL and are the top losers.
- Nifty Auto stocks surge 1.5% while Nifty Banking and Financial stocks drag the most.
- Out of 50 stocks traded on the BSE, 25 advanced and 25 declined. Read More
Published on: 12:18 pm
- India Ratings and Research (Ind-Ra) has rated Emami Paper Mills Ltd’s (EPML) bank facilities.
- 'IND A-/Stable' has been assigned to the long-term facilities while 'IND A2+' has been assigned to short-term facilities.
- According to the rationale report, the ratings factor in EPML's strong parentage and linkages with Emami group including the constant tangible support extended by the latter. Read More
Published on: 12:15 pm
- Hilton Metal Forging Limited (Hilton), one of India’s leading manufacturers & Exporters of steel forged flanges, fittings & oilfields, and marine products become the first company MSME to develop, receive Approval and supply 100% indigenous Solid Forged Railway Wheels (Narrow Gauge).
- The Forged IR Bogies Railway Wheels are also being in demand due to short supply as pure import substitutes and the annual demand for wheels amounts to Rs300cr. These wheels are very complex to manufacture and there are very few players globally to develop these wheels.
- Hilton Metal Forging Ltd is currently trading at lower price brand of Rs15.42 down by Rs0.81 or 4.99% from its previous closing of Rs16.23 on the BSE. Read More
Published on: 12:03 pm
- BCPL Railway Infrastructure Limited has informed that the Company has bagged an order from Central Organisation for Railway Electrification, Prayagraj, Uttar Pradesh, India.
- This order has been received for the work of “Design, Supply, Erection, Testing & Commissioning of 25 kV, 50 Hz, Single Phase, AC, Electrification Works including OHE Electrical Work" in Hospet (Excl.) - Swamihalli (Incl.) Section, Gr.300 of Hubballi Division of South Western Railway under RE Project Bangaluru, Total 59 RKM/ 78 TKM.” The total project cost comprises of Rs18cr. Read More
Published on: 12:00 pm
- The Nifty Auto index rose on Tuesday in a weak market. Heavyweights Maruti, Tata Motors, Hero MotoCorp, TVS Motor Company and Bharat Forge led the gains. Ashok Leyland dragged the most while Amara Raja Batteries and Eicher Motors stocks were also under pressure.
- Domestic stock markets started the day’s trade moving between gains and losses before slipping deep into the red. At around 12 noon, BSE Sensex was trading at 60,528.06 down 190.65 points or 0.31% and Nifty 50 at 18,057.10 down 52.35 points or 0.29%. Nifty Auto was trading at 11,836.45 up 148.80 points or 1.27%, hitting a high of 11,835.75 and low of 11,692.05 during intraday trade on Tuesday. Read More
Published on: 11:59 am
- Coforge has announced that Abhinandan Singh has resigned from the Company as Chief Investor Relations Officer.
- The last working day of Singh will be December 15, 2021.
- Furthermore, the Board has approved to designate Anupam Jain as Chief Investor Relations Officer of the Company with effect from December 16, 2021, under the Code of Fair Disclosure of the Company as per SEBI (Prohibition of Insider Trading) Regulations. Read More
Published on: 11:54 am
- Glenmark Pharmaceuticals (Glenmark) has been listed in the Dow Jones Sustainability Index (DJSI), under the category of emerging markets for the fourth consecutive year. DJSI is one of the world’s most respected and widely accepted sustainability benchmarks globally with only the top-ranked companies in terms of Corporate Sustainability within each industry featured in the index.
- “Our inclusion in the coveted Dow Jones Sustainability Indices (DJSI) for the fourth consecutive year, is a validation of our commitment to sustainability and reiterates our consistent performance across all sustainability indicators. The DJSI inclusion strengthens our resolve to uphold our sustainability strategy that encompasses the Environmental, Social and Governance (ESG) principles to make a positive difference to our operations, stakeholders, communities and the planet at large,” said Glenn Saldanha, Chairman and Managing Director, Glenmark Pharmaceuticals. Read More
Published on: 11:49 am
- Jindal Steel & Power (JSPL) has recorded steel production of 6.24 lakh tonnes in October 2021 rising by 7% yoy.
- The company had a steel production of 5.85 lakh tonnes during October of the previous year.
- However, JSPL’s Steel Sales observed a 1% (Y-o-Y) dip at 5.93 lakh tonnes in October 2021 (6.0 lakh tonnes in October 2020). Read more
Published on: 11:47 am
- CRISIL Ratings has reaffirmed its ‘CRISIL BBB+/Stable/CRISIL A2’ ratings on the bank facilities of Chembond Chemicals Ltd. CRISIL Ratings has also withdrawn its rating on Chembond’s cash credit facility of Rs7cr. The withdrawal is based on the client request and is inline with CRISIL Rating’s policy on withdrawal of rating.
- According to the rationale, the ratings continues to reflect the Chembond group’s established market position with presence in diversified sub-segments in the specialty chemicals sector with healthy financial risk profiles. These strengths are partially offset by working capital-intensive operations and exposure to intense competition in the speciality chemicals industry. Read More
Published on: 11:41 am
- Pharma company, Cipla has been selected in the S&P Dow Jones Sustainability Index (DJSI) for the Emerging Markets for 2021. The DJSI family of indices is operated by one of the world's leading index providers S&P Dow Jones. The Emerging Markets Index for the year comprises 108 companies from 12 emerging economies, including China, Brazil, South Africa and Taiwan.
- Created jointly by S&P Dow Jones Indices and SAM, the DJSI is the gold standard for corporate sustainability and is highly regarded by global investors and financial analysts looking at ESGbased investments. The DJSI follows a best-in-class approach, assessing sustainability leaders from each sector on a global and regional level. Read More
Published on: 11:35 am
- Karnataka Bank has launched the CASA campaign of FY 2021-22 and introduced a New Current Account Scheme "KBL Current Account - Premium'', specifically designed to meet the needs of small and medium entrepreneurs.
- Karnataka Bank is pioneering the new age of digital banking. With this campaign, the Bank aims to introduce its attractive and superior line of digitally powered savings account products to its prospective customers. Read More
Published on: 11:30 am
- Indices drop further as Pharma, Oil & Gas, Banking and Financial stocks drag the most. Auto stocks lead to gains.
- BSE Sensex is at 60,474.01 down 244.7 points or 0.40%.
- Nifty50 is at 18,049.10 down 60.35 points or 0.33%. Nifty Bank is 38,435.10 down 0.69%. Mid-cap Index is up 0.19%.
- Maruti, Tata Motors, Hero MotoCorp, Bajaj Finance and Bajaj Finserv are the top gainers. Reliance, Asian Paints, State Bank of India, BPCL, and Shree Cement are the top losers.
- Nifty Auto and Media stocks are bullish amid bearish markets while Nifty Pharma, Oil & Gas, Banking and Financial stocks drag the most.
- Out of 50 stocks traded on the BSE, 23 advanced and 27 declined. Read More
Published on: 11:29 am
- RattanIndia Enterprises Ltd has informed that a wholly owned subsidiary of the Company by the name ‘Neotec Insurance Brokers Limited’ has been incorporated and registered with the Registrar of Companies NCT of Delhi and Haryana on November 15, 2021.
- Further, the Authorised share capital of the company is Rs. 1,00,00,000 divided into 10,00,000 equity shares of Rs. 10/- each and the paid-up share capital is Rs. 5,00,000 divided into 50,000 equity shares of Rs. 10/- each. Read More
Published on: 11:25 am
- The Phoenix Mills Limited (PML) and Canada Pension Plan Investment Board (CPP Investments) have announced a new joint venture to develop an office-led mixed-use asset in Lower Parel, Mumbai. The asset forms part of a larger mixed-use development at Phoenix Palladium, Mumbai.
- CPP Investments will commit to investing approximately Rs13.5 billion (C$231 million) in tranches, for an ultimate equity stake of 49% in Plutocrat Commercial Real Estate Private Limited (PCREPL), the entity that will own the asset. Read more
Published on: 11:16 am
- ICRA Limited has reaffirmed the long-term rating at AA+ and short-term rating at A1+ for Rs1,000cr bank working capital facilities of Graphite India Limited.
- The outlook on the long-term rating is revised to Stable from Negative. ICRA assigned a short-term rating at A1+ for the Rs300cr commercial paper programme of the company.
- At around 11.18 am, Graphite India Ltd was trading at Rs514.50 per piece down by Rs1.3 or 0.25% from its previous closing of Rs515.80 per piece on the BSE. Read More
Published on: 11:14 am
- Axis Bank has informed that the Bank has allotted 1,23,365 equity shares of Rs. 2/- each of the Bank on November 15, 2021, pursuant to exercise of stock options under its ESOP Scheme.
- The paid up share capital of the Bank will accordingly increase from Rs. 613,40,66,276 (306,70,33,138 equity shares of Rs. 2/- each) to Rs. 613,43,13,006 (30,67,156,503 equity shares of Rs. 2/- each).
- At around 11:15 AM, Axis Bank was trading at Rs730.30 apiece down by Rs2.95 or 0.4% from its previous closing of Rs733.25 apiece on the BSE. Read More
Published on: 11:13 am
- Ashiana Housing has entered into a development agreement for developing a residential project in Jaipur on a revenue sharing basis.
- The land area of the project is 8.60 acres, while its estimated saleable area is 9,16,000 sq. ft.
- The project is located in Village Bhankrota, Jaisinghpura Road, Tehsil Sanganer, District Jaipur (Rajasthan).
- At around 11.11 am, Ashiana Housing was trading at Rs195.50 per piece up 2.65% on Sensex. Read More
Published on: 11:05 am
- Ester Industries Limited, India’s leading manufacturer of Polyester Films, Engineering Plastics and Specialty Polymers, on Monday announced its financial results for the quarter and half year ended September 30, 2021.
- The company’s Q2FY22 revenue increased 33% yoy to Rs333cr from Rs251cr in Q2FY21. Revenue stoo st Rs652cr in H1FY22, an increase of 48.5% yoy from Rs439cr.
- EBITDA during the quarter under review was at Rs59cr, a decline of 20% yoy from Rs73cr in Q2FY21. During H1FY22, EBITDA dropped 2.4% yoy to Rs123cr from Rs126cr in H1FY21. Read More
Published on: 11:03 am
- KKR backed Virescent Renewable Energy Trust has raised a whopping Rs2,150cr of debt financing from listed non-convertible debentures, long-term debt financing and working capital. The proceeds will be primarily used for refinancing SPV level debt and for funding future acquisitions.
- Virescent raised about Rs1,000cr in its debut issuance across 3, 5 and 7-year tranches. This transaction marks the first-ever issuance by a Renewable Energy InvIT in India thereby establishing a new yield curve. The Company will primarily use the proceeds to refinance existing debt at the SPV level as well as fund future acquisitions. The NCD structure benefits from a comprehensive covenant package thereby ensuring the highest domestic rating of AAA by CRISIL and India Ratings. This is the first issue from the renewable energy sector in India to benefit from a dual AAA rating, demonstrating the VRETs strong focus on creditor interests. The success of the transaction highlights the faith of the investor community in the strength of the Sponsor and VRET’s robust business plan. Barclays Bank PLC, Trust Investment Advisors and ICICI Bank acted as arrangers on the issuance. Read More
Published on: 10:51 am
- Sterlite Technologies (STL) announced key initiatives to strengthen its presence in the Middle East, Africa (MEA) region by forming new partnerships, setting up a centre of excellence and expanding its team. In line with its strategic focus on the MEA region and its purpose of transforming billions of lives through digital networks, STL has been strengthening its presence in MEA. The company had recently announced a $100 Mn order book that included multi-year, multimillion-dollar deals.
- On STL’s expansion plans in MEA, Sandeep Girotra, Head-Global Sales, STL, said, “STL is taking major strides in the region with its industry-leading solutions. We are engaging with leading telcos to build robust, future-ready, digital networks in the region. I welcome new members and am confident that their domain expertise will help us create unmatched value for our customers.” Read More
Published on: 10:51 am
- Raj Kumar Ahuja has resigned as Group Chief Financial Officer of Capri Global Capital Limited.
- “Raj Kumar Ahuja, Group Chief Financial Officer being a Key Managerial Personnel of the Company has resigned from his position from close of business hours on November 15, 2021,” the company said in a filing on Monday.
- At around 10.55 am, Capri Global Capital Ltd was trading at Rs517.10 per piece down by Rs3.65 or 0.7% from its previous closing of Rs520.75 per piece on the BSE. Read More
Published on: 10:45 am
- Nifty Bank was under pressure on Tuesday amid bearish markets, tracking mixed global cues. The index dragged the overall markets as investors reacted to RBI's November bulletin 2021. Apart from this, investors are intend to play cautiously on slew of macroeconomic data that are expected to release during the week globally.
- On the global front, US markets ended flattish ahead of key retail sales and earnings results from major US companies later this week. Also, market players monitored the first face-to-face virtual summit between US President Joe Biden and Chinese leader Xi Jinping that may bring some attention to rising inflation risks globally. Read More
Published on: 10:41 am
- Bharti Airtel Limited (“Airtel”) has formed a Committee of Board of Directors (“ESG Committee”) to sharpen its focus towards its Environmental, Sustainability and Governance (ESG) agenda.
- Sunil Bharti Mittal, Chairman, Bharti Airtel said: “Businesses have the responsibility to sharpen their ESG agendas to contribute to the global efforts to combat climate change and ensure inclusive growth. Airtel has always set high standards of corporate governance, transparency and has proactively laid out a comprehensive ESG roadmap. This empowered committee ensures that ESG is a priority for the Board in order to create long-term value for all stakeholders through sustainable business practices.” Read More
Published on: 10:35 am
- Power Mech Projects have bagged two new projects aggregating to Rs725.17cr. On Tuesday, the company's stock was trading higher.
- As per the regulatory filing, the following are the details of the projects:
- 1. Four laning of NH-365A from Kodad (Design Km O.OO/ExistingKm 185.00 of NH-65) to Khammam (Design Km 31.800/Existing Km 29.400) (Design Length = 31.800 Km) in the State of Telangana under Bharatmala Pariyojana on Hybrid Annuity Mode for NHAI. The project is valued at Rs645cr. Read more
Published on: 10:34 am
- Brickwork Ratings has revised the credit ratings for the total Rs5000cr Non-Convertible Debentures (NCDs) of Steel Authority of India Limited (SAIL) after review.
- The credit rating agency has revised the ratings to BWR AA; Stable from BWR AA; Negative for NCD BG Rs1200cr, NCD BH Rs800cr and proposed NCD Rs3000cr, instruments of the company.
- At around 10.36 am, Steel Authority of India Ltd was trading at Rs116.60 per piece up by Rs1.2 or 1.04% from its previous closing of Rs115.40 per piece on the BSE. Read More
Published on: 10:30 am
- Equity market indices trade lower amid mixed global cues.
- BSE Sensex is at 60,538.64 down 180.07 points or 0.30%.
- Nifty50 is at 18,066.30 down 43.15 points or 0.24%. Nifty Bank is 38,499.15 down 0.53%. Mid-cap Index is up 0.27%.
- Maruti, Tata Motors, Hero MotoCorp, SBI Life, and Coal India are the top gainers. Reliance, Asian Paints, Eicher Motors, HDFC, and Kotak Bank are the top losers.
- Nifty Auto and Media stocks rise over 1% amid bearish markets while Nifty Banking and Financial stocks drag the most.
- Out of 50 stocks traded on the BSE, 26 advanced and 24 declined. Read More
Published on: 10:12 am
- Securekloud Technologies Limited, a leading Global IT Business Transformation, Secure Cloud Solutions, and NextGen Managed Service Provider, on Monday, announced its consolidated un-audited financial results for the quarter and half year ended September 30, 2021.
- The company’s consolidated revenue stood at Rs87.1cr in Q2FY22, a decline of 3.5% yoy against Rs89cr in Q2FY21. Gross Profit Margin at 26.3%. The company reported a loss of Rs24cr in Q2FY22 compared to a profit of Rs3.9cr in Q2FY21. Read more