Live market updates

23rd Nov, 2021

Schaeffler India signs MoU with Tamil Nadu govt for new plant to expand Hosur operations

Published on: 4:40 pm

  • Leading industrial and automotive supplier, Schaeffler India Limited has signed a Memorandum of Understanding (MoU) with Guidance, the nodal agency for the Government of Tamil Nadu (GoTN) for investment promotion and facilitation, to extend its production footprint in the state.
  • The agreement was signed at the Tamil Nadu investment conclave in Coimbatore, in presence of M.K. Stalin, Hon’ble Chief Minister of Tamil Nadu. Harsha Kadam, MD & CEO; and Satish Patel, CFO and Director of Finance, represented Schaeffler India at the signing ceremony.
  • Commenting on the development, Harsha Kadam, MD & CEO, Schaeffler India, said: “We have a long standing and productive relationship with Tamil Nadu Govt as we are already operating in Hosur for many years now. I am delighted to deepen our relationship today with this MoU. Read more

Gautam Gems bags order of Rs5cr from US, UK-based clients

Published on: 4:24 pm

  • Gautam Gems Ltd has informed to the exchanges regarding receipt order of Rs5cr.
  • As per regulatory filings, the company announced that it has received order from US and UK based Companies for manufacturing of polished diamonds amounted to Rs5cr.
  • On Tuesday, Gautam Gems ended at Rs11.47 per piece higher by 4.18% on the BSE. Read more

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Tourism Finance Corporation of India approves NCD issue worth Rs50cr; Stock ends 2% higher

Published on: 4:00 pm

  • Tourism Finance Corporation of India Limited on Monday approved an issue of Secured, Listed, Rated, Market Linked Redeemable Non-Convertible Debentures (NCDs) on a private placement basis aggregating to Rs50crs (Including Greenshoe option of Rs25cr).
  • Tourism Finance Corporation of India Ltd ended at Rs65.60 per piece up by Rs1.45 or 2.26% from its previous closing of Rs64.15 per piece on the BSE. Read more

Equitas Small Finance Bank partners with HDFC Bank to offer co-branded credit cards

Published on: 3:58 pm

  • Equitas Small Finance Bank on Tuesday annoucned its partnership with HDFC Bank, India’s largest private sector bank, for the launch of its new co-branded credit cards. The credit cards will be available for Equitas Small Finance Bank’s customers, with an aim to provide them with the facilities of the banking ecosystem.
  • The partnership draws on HDFC Bank's strengths as India’s leading issuer of credit cards and superior customer engagement to extend best-in-class services to Equitas’ customer base. Read more

Alembic Pharma bags USFDA approval for Dabigatran Etexilate Capsules; Stock ends over 4% up

Published on: 3:51 pm

  • Alembic Pharmaceuticals Limited (Alembic) announced that it has received tentative approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Dabigatran Etexilate Capsules, 150mg.
  • The tentatively approved ANDA is therapeutically equivalent to the reference listed drug product (RLD) PRADAXA Dabigatran Etexilate Mesylate Capsules, Eq to 150 mg base, Boehringer lngelheim. Read more

Tracxn Technologies and Puranik Builders gets Sebi’s nod to float IPO

Published on: 3:49 pm

  • Tracxn Technologies Limited and Real Estate developer Puranik Builders have received Sebi’s nod to raise funds through its initial public offering (IPO).
  • The Bengaluru-based company's IPO comprises equity shares of face value of Re 1 each is an Offer for Sale aggregating to 38,672,208 equity shares. While, Mumbai-based Puranik Builders’ IPO comprises of fresh issue of shares worth Rs 510 crore and an offer for sale up to 945,000 equity shares by the company's promoters and existing shareholders. Read more

Vodafone Idea hikes prepaid tariffs for customers in India starting from November 25

Published on: 3:42 pm

  • One of the leading telecom service providers in India, Vodafone Idea on Tuesday announced new tariff plans for prepaid users in India. The new tariffs will be starting from November 25, 2021.
  • In a statement, Vodafone Idea said that the new plans will start the process of ARPU improvement and held address the financial stress by the industry.
  • Further, the company said that these tariff plans will allow VIL to continue improving India's fastest mobile network, verified by Ookla, the global leader in fixed broadband and mobile network testing applications. Read more

Man lnfraconstruction ends higher on allotment of over 12cr bonus shares

Published on: 3:40 pm

  • Man lnfraconstruction Limited has allotted 12,37,50,135 fully paid-up Bonus Equity Shares of Rs2/- each in the ratio of 1 new fully paid-up Bonus Equity Share of Rs2/- each for every 2 existing fully paid-up Equity Shares of Rs2 each held by the eligible members.
  • Man Infraconstruction Ltd istock trade on Tuesday ended at Rs95 per piece up by Rs2.15 or 2.32% from its previous closing of Rs92.85 per piece on the BSE. Read more

Markets close higher; Metal Stocks outperformed

Published on: 3:39 pm

  • Markets witnessed a positive day of trade, with the benchmark index bouncing back from its crucial 89Dema.
  • Nifty marginally outperformed the Bank Nifty by ~0.1% with both the indices closing in the green.
  • Nifty Metal index closed ~3% higher as across the board short covering weighed in majority of its constituents like Tata Steel, Jsw Steel, Vedanta & Jindal Steel. Read more

SBI dual lists USD 650 Mn green bonds on India INX and Luxembourg Stock Exchange

Published on: 3:21 pm

  • Commemorating the occasion of World Investor Week, SBI has dual-listed USD 650 Million green bonds simultaneously on India International Exchange (India INX) and Luxembourg Stock Exchange.
  • This dual listing is in line with this year’s topic of World Investor Week, ‘Sustainable Finance’, as indicated by the regulatory body International Financial Services Centres Authority (IFSCA).
  • On November 19, 2020, BSE’s international arm, India INX, had announced its memorandum of understanding with Luxembourg Stock Exchange for cooperation in the financial services industry, maintenance of orderly markets in securities respective country, ESG (environmental, social and governance) and green finance in the local market. This dual listing of green bonds is the first step towards this collaborated effort. Read more

Solar Industries zooms on placement of commercial paper worth Rs50cr

Published on: 3:18 pm

  • Solar Industries Limited informed the exchanges Monday that in terms of the guidelines issued by the Reserve Bank of India, the Company has placed the Commercial Paper (CP) amounting to Rs50cr on November 22, 2021, in favour of Axis Bank Limited, having a maturity date of February 21, 2022.
  • Towards close of trade on Tuesday, Solar Industries India Ltd was trading at Rs2,874.20 per piece up by Rs95.2 or 3.43% from its previous closing of Rs2,779 per piece on the BSE. Read more

Alembic Pharma gets USFDA approval for Formoterol Fumarate Inhalation Solution; Stock zooms over 4%

Published on: 3:17 pm

  • Alembic Pharmaceuticals Limited (Alembic) on Tuesday announced that it has received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Formoterol Fumarate Inhalation Solution, 20 mcg/2 ml per Unit-Dose Vial.
  • The approved ANDA is therapeutically equivalent to the reference listed drug product (RlD), Perforomist Inhalation Solution, 20 mcg/2ml per Unit-Dose Vial, of Mylan Specialty, L.P. Formoterol Fumarate Inhalation Solution is a long-acting beta2-adrenergic agonist (beta2-agonist) indicated for longterm, twice daily (morning and evening) administration in the maintenance treatment of bronchoconstriction in patients with chronic obstructive pulmonary disease (COPD), including chronic bronchitis and emphysema. Read more

H G Infra Engineering incorporates wholly-owned subsidiary as SPV for HAM project

Published on: 3:15 pm

  • H G Infra Engineering Ltd has informed that the company has received the certificate of incorporation from the registrar of companies (RoC) dated November 22, 2021 with respect to incorporation of wholly owned subsidiary company namely "H.G. Raipur Visakhapatnam OD-6 Private Limited " as Special Purpose Vehicle ('SPV') to undertake the project.
  • The project is for Development of Six Lane Baunsaguar - Baraja Section of NH-130-CD Road from km 293+000 to km 338+500 under Raipur Visakhapatnam Economics Corridor in the state of Odisha on Hybrid Annuity Mode (Package - OD-6). Read more

IndusInd Bank stock dips over 2.5% after clarifying on Shalabh Saxena and Ashish Damani joining Span

Published on: 3:12 pm

  • Private lender, IndusInd Bank has clarified about appointment of Shalabh Saxena and Ashish Damani at Spandana Sphoorty Financial. Both Saxena and Damani are currently at the Bank's wholly-owned subsidiary, Bharat Financial Inclusion as Managing Director & Chief Executive Officer and Executive Director & Chief Financial Officer, respectively.
  • IndusInd today said that neither, Shalabh Saxena nor Ashish Damani have tendered their resignation from the services of BFIL. As per the terms of their employment, once the resignation is tendered, it is subject to acceptance by the Board of Directors of BFIL (Board). Upon acceptance by the Board, a specified notice period is also required to be served. However, as neither of them have tendered their resignations to BFIL, such due process has not been initiated. Read more

BSE launches celebrations for World Investor Week 2021

Published on: 3:11 pm

  • BSE’s Investors’ Protection Fund (BSE IPF) announced the launch of celebrations of the globally popular event World Investor Week (WIW 2021) under the aegis of SEBI and IOSCO, from Nov 22, 2021 to Nov 28, 2021.
  • World Investor Week (WIW) is a week-long global celebration promoted by the International Organisation of Securities Commissions (IOSCO) to raise awareness about the importance of investor education and protection - in India. SEBI has worked with all the MIIs to make this a memorable and enriching week for all investors.
  • To mark the beginning of World Investor Week (WIW) celebrations, a Bell Ringing Ceremony is being held on Nov 22, in BSE’s International Convention Hall in the presence of Chief Guest Shri G P Garg, Executive Director, SEBI and Shri Ashishkumar Chauhan, MD & CEO, BSE, along with senior dignitaries from SEBI and leading investor associations. Read more

Redington Turkish arm concludes final consideration at USD 29 mn for acquisition of 100% shares of B

Published on: 3:07 pm

  • Redington India Limited step-down subsidiary Arena Bilgisayar Sanayi Ve Ticaret A.S. (Arena), Turkey has concluded final consideration at USD 29 Million for acquisition of 100% shares of Brightstar Telekomünikasyon Dağıtım Ltd. Şti. (Brightstar).
  • “The transaction is expected to be completed latest by November 30, 2021. The acquisition by Arena is subject to receiving necessary regulatory approvals including from the Competition Board, as also fulfillment of certain mutually agreed conditions,” the company said in a filing on Monday. Read more

KIOCL signs agreement with Tauman Engineering for Rs185cr

Published on: 3:01 pm

  • KIOCL Ltd has informed to the exchanges regarding entering into a contact agreement and tripartite agreement for setting up of 1,80,000 TPA Heat Recovery Coke Oven Plant at Blast Furnance Unit (BFU) of the company.
  • KIOCL has entered into a contract agreement with M/s Tauman Engineering Limited for setting-up of 1,80,000 TPA Heat Recovery Coke Oven Plant at Blast Furnance Unit, at a contract price of Rs185cr, exclusive of applicable GST.  Read more

BSE Telecom index outperform led by Airtel; Vodafone Idea latest to hike prepaid tariffs in India

Published on: 2:49 pm

  • Equity benchmark indices were trading with gains on Tuesday afternoon after recouping all losses suffered earlier in the day. BSE Sensex is currently 58,726.18 up 260.29 points or 0.45% and Nifty50 is currently 17,522.90 up 106.35 points or 0.61%.
  • The BSE Telecom index added gains of over 1.99% in the afternoon session. The index has touched an intraday high and low of 1,875.06 and 1,821.54 respectively.
  • All the stocks were trading in the green except Vodafone Idea and Vindhya Telelinks. Read more

Minda Corporation spurts 5% after signing agreement for strategic investment in SPV for purchase of

Published on: 2:44 pm

  • Minda Corporation Limited informed the exchanges Monday that a Shareholders Agreement has been executed between FP West Solar Private Limited, Minda Corporation, and Fourth Partner Energy Private Limited.
  • The company stock was bullish on Tuesday and at around 2.48 pm, Minda Corporation Ltd was trading at Rs164.80 per piece up by Rs8.15 or 5.2% from its previous closing of Rs156.65 per piece on the BSE. The scrip opened at Rs157 and has touched a high and low of Rs165.85 and Rs154.95 respectively.
  • The agreement for Strategic Investment by Minda Corporation Limited in the equity shares of SPV for purchase of electricity/power as a captive user on mutually agreed terms and conditions for manufacturing unit located at Chakan, Pune. Read more

Market pulse at 2:30 PM today

Published on: 2:30 pm

  • Indices trade higher led by metal, pharma and auto stocks.
  • BSE Sensex is currently 58,726.18 up 260.29 points or 0.45%.
  • Nifty50 is currently 17,522.90 up 106.35 points or 0.61%. Nifty Bank is 37,329.80 up 0.54%. Mid-cap Index is up 1.94%. Read more

ICRA: GDP expansion forecast for Q2FY22 revised up to 7.9% from 7.7%, following renewed Govt spendin

Published on: 2:21 pm

  • ICRA has revised its forecast for the year-on-year (YoY) growth of the GDP and gross value added (GVA) at basic prices (at constant 2011-12 prices) in Q2 FY2022 upwards by 20 bps to 7.9% and 7.4%, respectively, benefitting chiefly from the surge in the Government of India’s (GoI’s) spending in September 2021.
  • ICRA projects the GVA growth in industry, services and agriculture, forestry and fishing at 8.5%, 7.9% and 3.0%, respectively, in Q2 FY2022. Read more

Go Fashion IPO oversubscribed by 135.46 times on Day 3; Final allotment expected on Nov 25

Published on: 2:16 pm

  • Go Fashion, which owns the brand Go Colors, had been subscribed 135.46 times on the final day of bidding. Investors put in bids for 109.44 crore equity shares against an offer size of 80.79 lakh units, as per the exchange data.
  • Retail investors buying shares 49.70 times their reserved portion, while non-institutional investors have been subscribed 262.08 times and qualified institutional buyers 100.73 times.
  • The final allotment for the Go Fashion IPO is expected to begin on November 25. Read more

Nifty Metal in a stellar rally amid higher base metal prices; Vedanta, NMDC, JSPL, JSW Steel top bul

Published on: 2:13 pm

  • Metal company stocks were in a super rally on Tuesday as investors sentiment turned bullish on a broad-based level aided by higher global base metal prices. All stocks listed traded on Nifty Metal outshined and were among top picks with gains from 1-6%. The Nifty Metal was trading near its day's high and was the top bull on NSE. The sector was upbeat despite the broader market cautious tone.
  • At around 2.5 pm, Nifty Metal was trading at 5,590.35 higher by 168.75 points or 3.11%. The index has touched an intraday high and low of 5,612.05 and 5,436.95 respectively.
  • On the index, Vedanta was the top bull soaring over 5.5% followed by NMDC surging 4.9%. JSW Steel and JSPL climbed 4.1% and 4% respectively. Read more

Rushil Decor to close operations at Chikmagalur MDF plant for 10 days

Published on: 1:56 pm

  • Rushil Decor Ltd has informed that Company's Medium Density Fibre Board Manufacturing Unit (MDF Plant) at Chikmagalur, Karnataka will remain close for a further period of approximately 10 days.
  • The reason is due to heavy rain and unavoidable situation. It was earlier informed that the said plant would remain temporary closed for 45 days from October 09, 2021 due to planned preventive maintenance activities as well as to replace some of the parts at the plant. Read more

Market pulse at 1:30 PM today

Published on: 1:30 pm

  • BSE Sensex is currently 58,634.73 up 168.84 points or 0.29%.
  • Nifty50 is currently 17,487.20 up 70.65 points or 0.41%. Nifty Bank is 37,153.90 up 0.07%. Mid-cap Index is up 1.73%.
  • JSW Steel, Power Grid, Coal India, Tata Steel, and Divis Lab are the top gainers. IndusInd Bank, Asian Paints, Infosys, ICICI Bank, and HUL are the top losers. Read more

Swiss Re partners with TCS to develop resilient and futuristic digital workplace

Published on: 1:27 pm

  • Tata Consultancy Services has expanded its 18-year long strategic partnership with Swiss Re, one of the world’s leading providers of reinsurance, insurance, and other forms of insurance-based risk transfer, to help the latter build a more social and open digital workspace leveraging the cloud, to drive greater collaboration and innovation.
  • As part of this initiative, TCS will help Swiss Re to further develop its future-ready, cloud-based digital workplace using Microsoft technologies and manage the underlying operations. Adopting agile ways of working, Swiss Re and TCS will work collaboratively to deliver a persona-based, insights-driven user experience for over 18,000 end-users. Read more

Ganga Forging trades higher after export order of US $1,22,661

Published on: 1:22 pm

  • Ganga Forging Limited has further received an order for the export of goods manufactured by the company to a customers based in New Jersey, US aggregating to the US $1,22,661. Read more

Triveni signs a business agreement with GEAE Technology USA in its Defence business; stock jumps 5%

Published on: 1:09 pm

  • Triveni Engineering & Industries Ltd. ('Triveni'), a market leader of engineered-to-order turbo high-speed gears & gearboxes announced the signing of a 10-year business agreement with GEAE Technology USA to locally manufacture the LM2500 gas turbine base and enclosure.
  • Under the agreement, GEAE Technology USA has licensed Triveni to locally manufacture the LM2500 gas turbine's base frame, acoustic enclosure, and lubricating oil skid and supply other source-controlled accessories that go into the LM 2500 gas turbine enclosure assembly. Read more

Triveni signs a business agreement with GEAE Technology USA in its Defence business; stock jumps 5%

Published on: 1:09 pm

  • Triveni Engineering & Industries Ltd. ('Triveni'), a market leader of engineered-to-order turbo high-speed gears & gearboxes announced the signing of a 10-year business agreement with GEAE Technology USA to locally manufacture the LM2500 gas turbine base and enclosure.
  • Under the agreement, GEAE Technology USA has licensed Triveni to locally manufacture the LM2500 gas turbine's base frame, acoustic enclosure, and lubricating oil skid and supply other source-controlled accessories that go into the LM 2500 gas turbine enclosure assembly. Read more

Nifty Pharma rallies over 1.5%; Glenmark, Strides Pharma outperform

Published on: 1:05 pm

  • Nifty Pharma rallied amid market flip flop on Tuesday. The Index after starting the week on a weaker note on Monday rose, and today it rose nearly 2% to help overall markets trade in the green. Glenmark Pharma lifted the spirits by surging 8% while Strides Pharma Science also advanced 5%.
  • Domestic stocks opened gap-down on Tuesday, following a late selling in US stocks overnight, even as US President Joe Biden re-nominated Jerome Powell as the US Fed Chair for the second term. Asian markets were largely mixed, the dollar index was steady while oil prices fell in morning trade. Read more

Nitin Gadkari: We all must align with the commitment made by PM to achieve target of carbon-neutral

Published on: 1:01 pm

  • Union Minister for Road Transport and Highways Nitin Gadkari has said we all must be aligned with the commitment made by the Prime Minister recently at the COP-26 summit to achieve the target of net-zero emissions or a carbon-neutral country by the year 2070.
  • Addressing ICC’s AGM & Annual Session on Bharat@75 ‘Empowering India: Today for Tomorrow’ he said adoption of cutting-edge technology, innovations, and digitalization would lead to all-inclusive and sustainable development in the country. Read more

Oil Ministry clarifies on a proposal to privatize Mumbai High field of ONGC

Published on: 12:51 pm

  • The Ministry of Petroleum & Natural Gas has clarified reports about the privatization of the Mumbai High field of ONGC on the proposal. The Ministry stated that "Government is keen that the domestic production of Oil and Gas should increase exponentially. ONGC, being the leading organization, has to play an important role."
  • The Ministry clarified that ONGC had conducted an internal Strategy Meet at Udaipur from 29th to 31st October 2021 for which suggestions included making a 25 years energy perspective plan, 15 years exploration plan by taking more acreages under exploration and having partnerships for its major fields, with the scope of enhancing recovery and technology infusion, were made. Read more

Adani Ports stock zooms nearly 2% after clarifying on seizing of several containers at Mundra Port

Published on: 12:39 pm

  • Adani Ports stock rallied on Tuesday after the company clarified reports claiming that the joint customs & DRI team seized several containers at Mundra Port.
  • In its regulatory filing today, Adani Ports highlighted that "we would like to inform you that the containers in question were not destined for Mundra Port or any other port in India but were enrouting from Karachi in Pakistan to Shanghai in China." Read more

ZEEL climbs ~3% after NCLT sanctions scheme of amalgamation of 3 step down subsidiaries with Zee Stu

Published on: 12:38 pm

  • National Company Law Tribunal (NCLT) has sanctioned the Scheme of Amalgamation of India Webportal, Zee Digital Convergence, and Zee Network Distribution, step down wholly-owned subsidiaries of Zee Entertainment Enterprises Limited (ZEEL) (Transferor Companies) with Zee Studios Limited, a wholly-owned subsidiary of the company.
  • “NCLT, Mumbai Bench vide its order issued on November 18, 2021, and NCLT, Delhi Bench vide its order issued on November 16, 2021, have sanctioned the Scheme of Amalgamation of India Webportal Private Limited, Zee Digital Convergence Limited and Zee Network Distribution Limited, step down wholly-owned subsidiaries of the company (Transferor Companies) with Zee Studios Limited, a wholly-owned subsidiary of the company (Zee Studios" or "Transferee Company") and their respective shareholders under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 and the rules made thereunder. Read more

Market pulse at 12:30 PM today

Published on: 12:30 pm

  • Benchmark market indices trade volatile; metal stocks lift performance.
  • BSE Sensex is currently 58,364.15 down 101.74 points or 0.17%.
  • Nifty50 is currently 17,411.85 down 4.70 points or 0.03%. Nifty Bank is 37,137.25 up 0.02%. Mid-cap Index is up 1%. Read more

Sanjiv Nathwani joins as Chief Business Officer at Cambridge Technology's US subsidiary

Published on: 12:21 pm

  • Cambridge Technology Enterprises Ltd has announced that Sanjiv Nathwani will be joining Cambridge Technology Inc.(USA), Wholly-Owned Subsidiary of the company as Chief Business Officer (CBO) effective immediately.
  • Sanjiv has an illustrious career building transformation consulting practices and driving transformation directly at some of the most prestigious firms in industry, and is a sought after Strategic Advisor to Fintech. Read more

Zydus Cadila develops new treatment for patients suffering from Chronic Kidney Disease (CKD); submit

Published on: 12:20 pm

  • Zydus Cadila, an innovation-driven, global pharmaceutical company, today announced that it has submitted the New Drug Application (NDA) to the Drug Controller General of India for Desidustat, an oral small molecule hypoxia-inducible factor prolyl hydroxylase (HIF-PH) inhibitor for treatment of anaemia in patients with Chronic Kidney Disease (CKD) who are on Dialysis and Not on Dialysis.
  • Cadila Healthcare Ltd is currently trading at Rs462.55 up by Rs6.3 or 1.38% from its previous closing of Rs456.25 on the BSE. Read more

Ind Ra revises outlook on Nuvoco Vistas and its NCDs to Positive; affirms at 'IND AA'

Published on: 12:12 pm

  • India Ratings and Research (Ind-Ra) has revised Nuvoco Vistas Corporation Limited’s (NVCL) Outlook to Positive from Stable while affirming its Long-Term Issuer Rating at ‘IND AA’.
  • Ind-Ra continues to take a consolidated view of NVCL and its wholly owned subsidiary Nu Vista Limited (NVL; ‘IND AA’/Positive) for the rating purpose, considering the strong operational and strategic interlinkages.
  • Further, Ind-Ra has therefore referred to the consolidated profile of NVCL throughout the rating action commentary. NVL accounts for around 35% of the consolidated cement capacity. Ind-Ra has done proforma consolidation of the financials of NVCL and NVL as required to enable comparison. Read more

Zen Technologies stock climbs over 2% after bagging an export contract worth Rs35cr

Published on: 12:11 pm

  • Zen Technologies has signed an export contract worth ~ Rs35cr with one of its important Middle East customers. The order includes Live Simulation equipment (Rs19.7cr) and O&M (Rs15.4cr) for 4 years.
  • The equipment order is expected to be executed in the next 3 quarters. Operation & Maintenance is for 4 years.
  • Zen Technologies emerged as the winner against tough competition from Europe and USA. Read more

DLF gains 2% after subsidiary approves allotment of NCDs worth Rs1,000cr

Published on: 12:05 pm

  • DLF Cyber City Developers Limited (DCCDL'), a material subsidiary of DLF Limited, has approved the allotment of 10,000 Senior, Secured, Rated, Listed Redeemable Non-Convertible Debentures (NCDs).
  • The NCDs with ‘CRISIL AA/ Stable’ rating of the face value of Rs10 lakh each at a coupon rate of 6.7% p.a. (~6.5% p.a.p.m.), payable on an annual basis, with an aggregate principal amount of Rs1,000cr (Date of Maturity: September 30, 2024) on private placement basis, to certain eligible investors. Read more

OneLife Capital Advisors stock hits 5% lower circuit after cautioning investors about “unsolicited m

Published on: 12:03 pm

  • OneLife Capital Advisors announced that the company has been brought to notice that there has been “unsolicited messages” circulated by unregistered/unauthorized persons/entities.
  • That said, OneLife said that "All investors are advised/cautioned not to rely on such “unsolicited messages” circulated by unregistered/unauthorized persons/entities. We also advise investors to exercise appropriate due diligence before trading in shares of the Company and to take informed investment decisions without being influenced by such unsolicited messages." Read more

ICICI Bank allots over 5.94 lakh equity shares under ESOS; Stock drags

Published on: 11:53 am

  • ICICI Bank Ltd has informed that the Bank has allotted 5,94,312 equity shares of face value of Rs2 each on November 22, 2021 under the Employee Stock Option Scheme (ESOS).
  • At around 11:53 AM, ICICI Bank was trading at Rs748.10 apiece down by Rs4.85 or 0.64% from its previous closing of Rs752.95 apiece on the BSE.
  • The scrip opened at Rs743 apiece and has touched a high and low of Rs748.60 apiece and Rs731.20 apiece respectively. The current market cap of the company is Rs5,22,509.45cr. Read more

Polycab India completes disinvestment of Ryker Base for Rs167.5cr

Published on: 11:43 am

  • Polycab India Ltd has completed the disinvestment of 5,20,20,000 equity shares of Rs. 10 each of Ryker Base Private Limited.
  • The Company informed that the disinvestment takes place for a consideration of Rs167.5cr, subject to adjustment of final sale price in accordance with the Share Purchase Agreement, said company in a regulatory filing on Monday.
  • Consequent to the said disinvestment, Ryker Base Private Limited ceases to be a wholly owned subsidiary of the Company. Read more

Compuage Infocom stock gains 2% after inking a distributorship agreement with Micro-Star Internation

Published on: 11:33 am

  • Compuage Infocom has entered into a Distributorship Agreement with Micro-Star Int’l Co., Ltd. (hereinafter referred to as “MSI”) for enabling penetration of laptops with the latest technology thereby creating higher accessibility for customers in India.
  • In its regulatory filing, Compuage said that the PC market is growing in India and currently its penetration against the Indian population is around 11% which opens up the gates for Compuage to introduce laptops with the latest technology, creating higher accessibility for customers across the country. Read more

Market pulse at 11:30 AM today

Published on: 11:30 am

  • Indices recover few losses but remain lower as banking stocks drag; Metal stocks surge over 3%.
  • BSE Sensex is currently 58,385.16 down 80.73 points or 0.14%.
  • Nifty50 is currently 17,424.65 up 8.10 points or 0.05%. Read more

IEX to resume trading in Renewable Energy Certificates from tomorrow; Stock climbs over 3%

Published on: 11:24 am

  • The Indian Energy Exchange stock was in the fast lane on Tuesday after the company announced that the resumption in the trading of Renewable Energy Certificates (REC) with effect from November 24, after a gap of almost 16 months. The last REC trade session took place in June 2020.
  • Rohit Bajaj, Head- Business Development and Senior Vice President, Indian Energy Exchange Limited said, “We are pleased to re-commence trade in the REC Market. REC has been a vital market-based instrument for obligated entities such as distribution utilities, open access consumers, and captive power plants for meeting their RPO in the most competitive and efficient manner. IEX pioneered trade in REC market in the year 2010." Read more

TCS becomes leader and star performer in Everest Group PEAK Matrix for Banking Operations Services

Published on: 11:18 am

  • Tata Consultancy Services (TCS) has  been named a Leader and Star Performer in the Everest Group PEAK Matrix for Banking Operations Services. In an assessment of 31 banking operations service providers, TCS was positioned highest for its vision and capability. Additionally, it was recognized as a Star Performer for demonstrating the strongest forward and upward movement on the matrix, based on the large clients added to its portfolio, expanded footprint in emerging geographies and augmented capabilities.
  • According to the report, TCS has well-rounded capabilities across a full spectrum of banking services and an extensive coverage across all major buyer geographies and client segments. Read more

NBCC updates on issues at residential complex developed in Gurugram; Stock gains 1.5%

Published on: 11:18 am

  • NBCC (India) Ltd has informed regarding general business updates and issues to the exchanges.
  • The industry has developed a Residential Complex "NBCC Green View Apartment" at Sector 37D, Gurugram. Further, the Company has received complaints from the allottees regarding certain structural aspects of the project executed by the contractors and the same are being reviewed by the Company with inputs from external experts, said company in a regulatory filing on Monday. Read more

GRM Overseas hits new high after entering into agreement with Christensen Investor Relations

Published on: 11:10 am

  • GRM Overseas Limited has entered into an agreement with Christensen Investor Relations India Private Limited for public and investor relations-related services.
  • The purpose of the agreement is to provide general investor relations services to support the company’s positioning in India and the global capital market,” the company said in a filing on Monday. Read more

Liquidator invites expression of interest from prospective bidders for sale of IVRCL

Published on: 11:09 am

  • Expression of interest (EOI) has been invited for bidding for  IVRCL Limited under Liquidation as going concerned for third E-auction process. The last date for submitting EOI would be December 10, 2021. While the last date for the third e-auction is set on December 15, 2021.
  • As per the advertisement by IVRCL's liquidator Sutanu Sinha, in the third e-auction, the qualified bidders who meet the Pre-Bid Qualifications and Eligibility Criteria can participate by bidding for at least the Reserve Price, i.e., Rs1200cr.
  • The advertisement further said that it may be noted that the entire Third E-auction Process is subject to the decision of Hon’ble National Company Law Tribunal in respect of application(s) which has been filed by the Liquidator for extension of time that is required for completion of liquidation of the Company. Read more

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