Latest News and Updates

26th Nov, 2021

Ramkrishna Forgings wins domestic order worth $1.2M in oil and gas segment

Published on: 4:48 pm

  • Ramkrishna Forgings on Friday won a domestic order worth Rs9cr (USD 1.2 million) from a Multinational Oil & Gas Tier-1 component supplier in India.
  • Lalit Khetan, Executive Director & CFO, Ramkrishna Forgings Limited said: “This order validates our oil and gas technical capabilities and marks our entry into a new product category. The component supplier will export these components to major Oil & Gas machinery and equipment OEMs in the USA which reiterates our commitment towards maintaining international quality standards." Read more

ITC to acquire 16% stake in D2C ayurvedic brand 'Mother Sparsh' for Rs20cr

Published on: 4:45 pm

  • ITC Ltd has agreed to invest in Mother Sparsh Baby Care Private Limited (‘Mother Sparsh’), a premium ayurvedic and natural personal care brand in the D2C space with a focus on the mother and baby care segment. It has a wide range of baby and mother care products that leverages the wisdom and knowledge of Ayurveda for potent product delivery.
  • ITC has agreed to acquire 16% of the share capital of Mother Sparsh on a fully diluted basis. And the cost of acquisition is Rs20cr. Read more

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SPARC to provide an update on clinical programs and R&D pipeline on Dec 09

Published on: 4:43 pm

  • Sun Pharma Advanced Research Company (SPARC) on Friday said that the company will host a Management Presentation over an audio conference to share and provide an update on its clinical programs and R&D pipeline.
  • The management presentation is scheduled for December 09, 2021.
  • This conference call, scheduled at 4:00 PM IST, will be reachable through an audio dial-in. Read more

Aurionpro Solutions bags strategic deal in smart transit biz, to buy majority stake Toshi Automatic

Published on: 4:36 pm

  • Aurionpro Solutions Ltd (“Aurionpro”) has entered into a definitive agreement for the acquisition of majority stake (51%) in Toshi Automatic Systems Pvt. Ltd. (“TASPL”), a Ghaziabad, Uttar Pradesh based company and an innovator with products and solutions in Industrial, Public Safety, Mass Transit segments.
  • Paresh Zaveri, Chairman & MD, Aurionpro, while announcing the acquisition stated that “Aurionpro is a preferred solutions provider in the smart mobility segment and with the recent spate of wins in India & various parts of the world Aurionpro is poised for aggressive growth in this segment.  Read more

Rupee at 3-week low, slips 36 paise against US Dollar

Published on: 4:25 pm

  • The Indian rupee dropped to its lowest level in 3-weeks and also bond yields fell on Friday amid concerns over a new COVID variant that spooked markets across the globe.
  • The rupee slipped over 36 paise at 74.87 against US Dollar. Today, the currency touched a low of 74.5850 earlier, its lowest since November 2.
  • The benchmark 10-year bond yield was trading at 6.32%, down 5 basis points from its close on Thursday. Read more

Rudrabhishek Enterprises to prepare Integrated Infrastructure plan for Meerut

Published on: 4:21 pm

  • Rudrabhishek Enterprises Limited (REPL) has been appointed by Meerut Development Authority (MDA) to provide consulting services for the preparation of vision, implementation strategy and integrated infrastructure plan for Meerut.
  • Pradeep Misra, CMD-REPL said, "Meerut is one of the fastest-growing cities of India with a rich industrial, agricultural and educational legacy. Proximity to National Capital has accelerated economic growth and development of the city in terms of trade & commerce, tourism, agriculture, transportation and infrastructure. The strategic location of Meerut has made it a business hub and technical education centre, which has resulted in the influx of population over the years. The trend needs to be mapped and capacity building of infrastructure is required to address the needs which are going to arise in coming years." Read more

Greenpanel Industries temporarily suspends operations at Rudrapur MDF plant

Published on: 4:10 pm

  • Greenpanel Industries Ltd has informed that manufacturing operations at Company's MDF Plant situated at Rudrapur, Uttarakhand has been temporarily suspended on November 25, 2021 due to breakdown of component of refiner.
  • As per filing, estimated time for repair / replacement of the above component and resumption of normal operations is 7-10 days, said company on Friday. Read more

Godrej Properties purchases a 16-acres land parcel in Bengaluru’s Sarjapur

Published on: 4:10 pm

  • Godrej Properties on Friday announced that it has purchased land measuring approximately 16 acres at a strategically located and fastest developing micro-market of Sarjapur, (Bengaluru) to develop a mid-income project.
  • The project is estimated to have a developable potential of approximately 1.5 million square feet saleable area comprising primarily of residential apartments of various configurations. Read more

Tata Group plans to foray into semiconductor biz, in talks with three states to set up a unit with $

Published on: 4:03 pm

  • Tata Group is in talks to set up a semiconductor assembly and test unit, semiconductor assembly and test unit. The Group is said to invest to the tune of $300M in the unit for driving high-tech manufacturing.
  • The Group is said to be in talks with three states for the above-mentioned plan.
  • Sources told Reuters that Tata is talking to the southern states of Tamil Nadu, Karnataka and Telangana and scouting for land for the outsourced semiconductor assembly and test (OSAT) plant. Read more

CARE assigns 'A1+' rating to Rs300cr commercial papers of Atul

Published on: 3:42 pm

  • Atul Ltd has informed that CARE Ratings has assigned CARE A1+ (A One Plus) rating to Rs300cr commercial papers of the Company:
  • As per rationale report, the rating assigned to the instrument of Atul Limited (Atul) derives strength from wide experience of its promoters along with its competent management.
  • The rating also takes cognizance of its healthy profitability, low leverage, comfortable debt coverage indicators and strong liquidity. Read more

Markets close lower; Nifty breaks 17,000 level

Published on: 3:39 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 ~0.65% with both the indices closing at intraday lows, down by ~3.65%/3%.
  • Reopening stocks from the sectors like Hotels, Aviation & Cinema house were among the top losers as the concerns of an impending third Covid wave rise. Read more

Markets witness a big selloff; Bank Nifty index underperforms

Published on: 3:38 pm

  • Markets witnessed a big selloff during the closing part of the week, to close in the red as across the board short selling weighed in. The index Option gamma writers ran for a cover as the indices witnessed a sharp delta move.
  • Bank Nifty index underperformed the Nifty index by ~1% as both the indices witnessed an addition of fresh short positions, to close the week ~5%/4% lower.
  • On the weekly charts, the Nifty is has given a bearish head & shoulder breakdown, indicating a continued downward momentum. Metal stocks like Tata Steel, Vedanta, JSW Steel & Jindal Steel were among the top underperformers, adding heavy short positions. FIIs index futures long/short for the December series started at 2x level. Read more

Asian markets plunge amid concerns over new Covid variant; Japan, Hong Kong drop more than 2%

Published on: 3:04 pm

  • Asian stock markets plunged on Friday amid fears over a new variant of Covid-19 that reportedly has multiple mutations.
  • Hong Kong’s Hang Seng index saw sharp losses, plummeting 2.67% at 24,080.52, whereas the Nikkei 225 in Japan tanked 2.53% at 28,751.62 while the Topix index fell 2.01% to 1,984.98. Read more

Piyush Goyal: IBC a “gamechanger reform”, brought a marked shift in attitudes of lenders and borrowe

Published on: 2:43 pm

  • Piyush Goyal, the Union Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles, has termed the Insolvency and Bankruptcy Code (IBC), 2016 as a “gamechanger reform” that has been the most successful law in insolvency resolution in the country.
  • “Since the enactment of IBC, India’s rank in ‘Resolving Insolvency’ indicator in World Bank’s Ease of Doing Business Report has seen a meteoric rise of 84 places! Our recovery rate has also dramatically improved from 26 (cents on the dollar) to 71.6 (cents on the dollar),” he said. Read more

Driverless Train Operations inaugrated on the Pink Line of Delhi Metro

Published on: 2:38 pm

  • Union Minister of Housing and Urban Affairs Hardeep S. Puri has inaugurated the Unattended Train Operations (UTO) on the Pink Line of the Delhi Metro. Addressing the occasion, Shri Puri said that "we are witnessing another historic occasion where we will see the Delhi Metro become one of the largest driverless metro networks in the world."
  • Congratulating the Delhi metro and people of NCR, the minister said that Delhi Metro has given us yet another proud moment in the country’s journey towards affordable, inclusive and sustainable public transportation. It has emerged as a symbol of the technological prowess that our country possesses. It is the backbone for socio-economic connectivity in the region and plays an invaluable part in the everyday urban experience of Delhiites and other commuters. Read more

CARE revises ratings on bank facilities of TIL; Stock tumbles 6.5%

Published on: 2:37 pm

  • TIL Limited has informed to the exchanges that CARE Ratings agency revised the rating of long-term and short-term bank facilities of the Company.
  • Long-term and short-term rating has been revised to CARE D revised from CARE B+/Negative/A4.
  • The revision in rating assigned to the bank facilities of TIL Limited takes into account ongoing delays in debt servicing due to stretched liquidity position. Read more

Noida International Greenfield Airport at Jewar to facilitate air traffic along with rapid growth in

Published on: 2:31 pm

  • Prime Minister Narendra Modi has laid the foundation stone of Noida International Greenfield Airport at Jewar, Uttar Pradesh. With this, UP is now poised to become the only state in India to have five international airports.
  • Noida International Airport is planned in 1334 hectares area at Jewar in the Yamuna Expressway International Development Authority (YEIDA) notified area of district Gautam Budhha Nagar, Uttar Pradesh.  The airport will be strategically located at about 72 km from Indira Gandhi International Airport, about 52 kilometers from Noida, about 130 kilometers from Agra and about 90 kilometers from Multi-Modal Logistics Hub at Dadri. Read more

Market pulse at 2:30 PM today

Published on: 2:30 pm

  • Benchmark indices at day's low as Sensex slumps over 1400 pts so far today.
  • BSE Sensex is at 57,434.28 down 1360.81 points or 2.31%.
  • Nifty50 is at 17,145.75 down 390.50 points or 2.23%. Nifty Bank is 36,319.90 down 2.80%. Mid-cap Index also shed 2.79%. Read more

Nazara Technologies completes acquisition of OpenPlay Technologies

Published on: 2:29 pm

  • Nazara Technologies has approved the allotment of 6,48,125 equity shares of Rs4 each at a price of Rs2206 (including premium of Rs2202) to Unnati Management Consultants LLP, for consideration other than cash (i.e. being consideration for the acquisition of 7670 equity shares of Rs10/- each of OpenPlay Technologies), on a preferential basis by way of private placement.
  • With this, the acquisition of equity shares of OpenPlay as per the Acquisition Agreement is completed and the Company now holds 100% of the issued and paid up share capital of OpenPlay. Accordingly, OpenPlay has become the wholly owned subsidiary of the Company w.e.f. November 24,2021, the company said. Read more

Engineers India stock surges 4% after entering in strategic alliance with Finland's CHEMPOLIS for gr

Published on: 2:22 pm

  • Engineers India Limited (EIL) and CHEMPOLIS OY, Finland have signed a strategic alliance for the conversion of Biomass to Green fuels. The deal shall pave the way to pursue business development in the sunshine area o Renewables i.e. Cellulosic 2G Ethanol Technology.
  • Such becomes an important milestone for EIL in expanding its wings into the futuristic green technologies beyond robust Oil & Gas portfolio and continues the journey towards building the Nation’s future towards Net-Zero.
  • This arrangement also paves way for Chempolis to bring to the Nation innovation & technology in the area of Green & Renewable products. Read more

Tata Metaliks temporarily shuts down blast furnaces and associated facilities at Kharagpur plant; St

Published on: 2:13 pm

  • Tata Group-backed Tata Metaliks announced that one of its Blast Furnaces (BFs) along with its associated facilities at the company's manufacturing unit in the Kharagpur plant will undergo a planned shutdown to carry out overhauling.
  • The shutdown has come into effect from November 25, 2021.
  • The operations of the BF and associated facilities are expected to be back on stream from December 04, 2021. Read more

Bonlon Industries to purchase land and building at RIICO Industrial Area, Chopanki

Published on: 2:10 pm

  • Bonlon Industries Ltd has executed an agreement to purchase the land and building of M/s B.C. Power Controls Limited, situated at E-424, RIICO Industrial Area, Chopanki, Bhiwadi, Dist. Alwar Rajasthan-301017 on November 18, 2021.
  • According to the regulatory filing, initially this property was to be sold by M/s B.C. Power Controls Limited to M/s Harshit Finvest Private Limited.
  • But due to rules and regulations of Rajasthan State Industrial Development and Investment Corporation "RIICO", the leasehold rights of the property could not be transferred to M/s Harshit Finvest Private Limited as it is a Non-Banking Finance Company registered with Reserve Bank of India. Read more

CDSL becomes first depository to open 5cr active Demat accounts

Published on: 2:01 pm

  • Central Depository Services (India) Limited (CDSL), the first and only listed depository in India has announced on Friday that it is the first depository to hold Five crore plus (50 million plus) active demat accounts.
  • Central Depository Services (India) Limited (CDSL) is India’s leading and only listed depository, with an objective of providing convenient, dependable and secure depository services at affordable cost to all market participants.
  • CDSL received its certificate of commencement of business from SEBI in February 1999 and it facilitates holding and transacting in securities in the electronic form and facilitates settlement of trades on stock exchanges. Read more

Bank Nifty in a bloodbath with all stocks in free fall, index sheds 1,100 pts; HDFC Bank, SBI, Indus

Published on: 1:40 pm

  • Friday turned in a bloodbath for banking stocks as the new Covid-19 variant took a toll on investors sentiments which led to hysteric profit booking in broader equities markets. The banking indexes were the worst hit in the bearish bandwagon and pushed benchmarks off the cliff. Bank Nifty has nosedived by more than 1,210 points so far today with heavyweight stocks witnessing a steep selloff.
  • Currently, on the Bank Nifty index, all stocks are in a free fall with the drop ranging from 1.5% to nearly 8.5%.
  • At around 1.35 pm, Bank Nifty was trading at 36,265.70 lower by 1,099.05 points or 2.94%. The index has touched an intraday low of 36,230.00. Read more

Seamec stock nosedives by 5% after vessel 'Seamec Princess' gets contracted for $1.46M

Published on: 1:34 pm

  • Seamec Limited stock was under pressure on Friday. The company announced that its vessel "SEAMEC PRINCESS" has been contracted with Posh Subsea Pte. Ltd. for working at Mumbai High Offshore.
  • The tenure of the contract is for a firm period of 21 days with the option for extension.
  • The contract will commence between the window period of November 25 to November 30, 2021. Read more

Market pulse at 1:30 PM today

Published on: 1:30 pm

  • Benchmark indices continues free fall amid weak global cues. Sensex gave up 58K while Nifty below 17,200.
  • BSE Sensex is at 57,520.98 down 1274.11 points or 2.17%.
  • Nifty50 is at 17,154.95 down 381.30 points or 2.17%. Nifty Bank is 36,335.90 down 2.75%. Mid-cap Index also shed 2.62%. Read more

Ind-Ra affirms Sobha's long-term issuer rating at 'AA-' with stable outlook; Stock slips over 2%

Published on: 1:24 pm

  • India Ratings and Research (Ind-Ra) has affirmed Sobha Limited’s (Sobha) Long-Term Issuer Rating at ‘IND AA-’. The Outlook is Stable. On Friday, at around 1.23 pm, Sobha was trading at Rs839 per piece down by 2.4% on Sensex.
  • Here are a host of key highlights that were rating drivers as per Ind-Ra:
  • Continued Strong Credit Metrics: The company had a net debt/net adjusted working capital (inventories + receivables + other current assets + assets including long-term assets pertaining to contracts and manufacturing business - payables - other current liabilities) of 0.59x at end-1HFY22 (FY21: 0.60x, FY20: 0.58x, FYE19: 0.57x). Ind-Ra expects the ratio to reduce below 0.55x by FYE22 owing to a decline in the net debt. Read more

Shivam Autotech to launch Rs40cr Rights Issue on December 14 with floor price set at Rs18 per share

Published on: 1:14 pm

  • Shivam Autotech board has revised the Rights Issue amount to Rs40cr from their previous decided Rs50cr. The new total has been approved by the stock exchanges.
  • On Thursday, the board approved rights issue floor price at Rs18 rights (including a premium of %16 per Equity Share over the face value of Rs22 per Equity Share); equity share.
  • Further, the rights entitlement ratio is set at 2 Rights Equity Shares for every 9 Equity Shares held by eligible shareholders as on the Record Date. Read more

IEX logs volume of over 2.44cr Renewable Energy Certificates on November 24

Published on: 1:03 pm

  • Indian Energy Exchange (IEX) announced that a total volume of 24,443,549 Renewable Energy Certificates (RECs) was cleared on November 24.
  • IEX resumed the trading of RECs from November 24, 2021, after a gap of almost 16 months. The last REC trade session took place in June 2020.
  • On the resume day, 801 participants were recorded. Read more

Ramco Cements' two mines conferred FIVE STAR award; Stock plunges 3%

Published on: 12:39 pm

  • The two mines of Ramco Cements viz. Melavenkateswarapuram Limestone Mine, RR Nagar and Pudupalayam & Periyangalur Limestone Mine, Ariyalur were conferred the FIVE STAR award during the 56 National Conclave on Mines & Minerals, said company on Friday.
  • The conclave under the aegis of Ministry of Mines, Government of India and Indian Bureau of Mines was held on 23rd November 2021 at The Hotel Ashok, New Delhi.
  • 1029 mines across the country had filed online self-assessment and were validated for FIVE STAR category award by Indian Bureau of Mines for the year 2019-20. Of this only 40 mines (various metals and minerals) were given FIVE STAR award. Read more

Friday's Bull! Nifty Pharma soars 2.5% as new Covid variant takes focus; Cipla surges 8%; Dr Reddy's

Published on: 12:35 pm

  • With the new Covid-19 variant taking a centre stage in souring broader markets mood on Friday, however, the same could not be said for Indian pharma stocks as the sector emerged as the only bull of today's trading session with broad-based buying across the counter. Pharma and healthcare stocks were in demand due to their nature of being frontrunners in tackling the virus and leading to recovery.
  • At around 12.23 pm, Nifty Pharma was trading at 13,912.65 higher by 346.15 points or 2.55%. The index has touched an intraday high and low of 13,915.75 and 13,455.25 respectively. Read more

RACL Geartech wins award at Dun & Bradstreet Business Excellence Awards-2021

Published on: 12:31 pm

  • RACL Geartech Ltd has announced that the Company has achieved the Awards and Recognitions in Auto component segment.
  • The company has won "Business Enterprise of Tomorrow-2021" in the Auto Component- SME Segment.
  • Dun & Bradstreet India hosted a virtual summit on the topic "Business Enterprises of Tomorrow 2021" on November 24, 2021 to recognize and acknowledge the achievements and exemplary performances of SMEs and Mid-Corporates. Read more

Market pulse at 12:30 PM today

Published on: 12:30 pm

  • Equity market indices extended the free fall amid weak global cues. Sensex gave up 58K while Nifty below 17,200.
  • BSE Sensex is at 57,482.16 down 1312.93 points or 2.23%.
  • Nifty50 is at 17,147.55 down 388.70 points or 2.22%. Nifty Bank is 36,333.85 down 2.76%. Mid-cap Index also shed 2.53%. Read more

Thomas Cook witnesses strong recovery in India’s M.I.C.E business; Stock plunges 5.5%

Published on: 12:16 pm

  • Thomas Cook (India) transformed its business into a digital model - delivering over 100 virtual events for over 3 lakh attendees based in India, the USA, Canada, Germany and Ireland. The Company also launched Gourmet Genie - specially curated corporate hampers that helped corporates stay in touch with their top performers and stakeholders with the delivery of approx. 18,000 hampers to date.
  • To build corporate confidence in MICE travel, Thomas Cook launched its “Assured” Safe Travel Program - developed in association with Apollo Clinics that ensures best in class travel safety protocols covering every distribution, delivery and partner touchpoint in the travel ecosystem. This was followed by “TravShield” an upgraded safety commitment of only vaccinated staff and co-passengers among many other precautions, that ensures traveller safety in the pandemic era. Read more

Vakrangee ties with Choice Equity Broking to offer complete online trading services

Published on: 12:11 pm

  • Vakrangee Limited alliances with Choice Equity Broking Private Limited to offer complete online trading services across its platform (physical network & digital app) on Friday.
  • As per regulatory filing, this tie-up will provide a complete bouquet of financial solutions to the customers across the country. The collaboration will provide our partner with an access to the huge client base & Network that Vakrangee has, helping it tap the untapped market & diversify its base.
  • Vakrangee through its Nextgen Kendras and BharatEasy Mobile Super app will now be able to provide wide range of Online trading services in remote areas of the country. With 70% of Nextgen Vakrangee Kendra outlets in Tier-5 and 6 towns. Read more

Indian Metals & Ferro Alloys board nods bonus issue in 1:1 ratio; Stock climbs 2%

Published on: 11:55 am

  • Indian Metals & Ferro Alloys (IMFA) on Friday witnessed buying sentiment on stock exchanges after the company's board of directors approved bonus issue in the ratio of 1:1.
  • The company's board approved issue of bonus equity shares in the ratio of 1 new equity bonus share of Rs10 each for every one existing equity shares having a face value of Rs10 each.
  • The bonus issue is subject to the approval of shareholders of the Company through Postal Ballot and other applicable statutory and regulatory approvals; as may be required. Read more

Eicher's Royal Enfield strengthens presence in Asia-Pacific region, commences operations of Thailand

Published on: 11:46 am

  • Eicher Motors-backed Royal Enfield announced the commencement of operations of its exclusive Local Assembly Unit and CKD facility in Thailand, one of the world’s largest automobile manufacturing hubs. Set up in partnership with GPX, this announcement is a significant boost to the company’s business in South-East Asia and further reiterates Royal Enfield’s commitment to the Asia Pacific Region.
  • That said, the company now has three local CKD (Completely Knocked Down) units - in Argentina, and Colombia in Latin America, and in Thailand - in addition to the three state-of-the-art manufacturing facilities in Chennai, India. Read more

Nifty Consumer Durables dips over 750 pts; Bata, Whirlpool, Titan weigh down

Published on: 11:40 am

  • Consumer durable stocks were on a bearish bandwagon dragging the broader markets on Friday as heavyweight stocks witnessed sharp profit booking. The index has extended its downside amid weak Asian markets cues and resurgence of covid cases worldwide which continues to sway markets outlook in this sector.
  • The Nifty Consumer Durables index has hovered between an intraday high and low of 28,436.60 and 27,677.70 respectively.
  • The sector recorded a steep free fall with all stocks in the bloodbath except Rajesh Exports which is marginally on the upside. Read more

Moody's pegs India's GDP growth at 9.3% by FY22, expects economy to rebound strongly by next fiscal

Published on: 11:38 am

  • In its latest note, Moody's Investors Services said that India's economic growth is seen to rebound strongly in the next fiscal year. Moody's forecasts the country's GDP at 9.3% in 2022.
  • While the rating agency predicts a GDP of 7.9% by the end of March of the fiscal year 2023.
  • Sweta Patodia an analyst at Moody's outlined that India's sustained recovery in economic activity will be supported by a rising rate of vaccination against the coronavirus disease (Covid-19). Read more

Market pulse at 11:30 AM today

Published on: 11:30 am

  • Equity market indices cracked on Friday amid weak global cues. Sensex gave up 58K while Nifty below 17,200.
  • BSE Sensex is at 57,553 down 1242.09 points or 2.11%.
  • Nifty50 is at 17,148 down 387.40 points or 2.21%. Nifty Bank is 36,352.20 down 2.71%. Mid-cap Index also shed 3%. Read more

CRISIL reaffirms ratings on Tube Investments of India's credit facilities; Stock plunges 3%

Published on: 11:04 am

  • CRISIL Ratings has reaffirmed its ‘CRISIL AA+/Stable’ ratings on the long term bank facilities and Rs100cr non-convertible debenture (NCD) programme of Tube Investments Of India Limited (TI).
  • Further, long-term and short-term bank facilities rating also reaffirmed to 'AA+/Stable/ A1+'.
  • Also, the ratings on the short-term bank facilities and commercial paper programme have also been reaffirmed at 'CRISIL A1+'. CRISIL Ratings has also withdrawn its rating on NCDs of Rs100cr basis independent confirmation from debenture trustee that these NCD’s have been fully redeemed, along with the company’s request for withdrawal of the rating. Read more

Thomas Cook India Limited witnesses strong recovery in MICE business

Published on: 10:47 am

  • The pandemic brought the MICE (Meetings, Incentives, Conference and Exhibitions) sector to a standstill for most of 2020. To stay connected with its key MICE stakeholders, Thomas Cook (India) Limited - India’s leading integrated travel and travel related financial services company, transformed its business into a digital model - delivering over 100 virtual events for over 3 lakh attendees based in India, USA, Canada, Germany and Ireland. The Company also launched Gourmet Genie - specially curated corporate hampers that helped corporates stay in touch with their top performers and stakeholders with delivery of approx. 18,000 hampers till date.
  • To build corporate confidence in MICE travel, Thomas Cook launched its “Assured” Safe Travel Program - developed in association with Apollo Clinics that ensures best in class travel safety protocols covering every distribution, delivery and partner touch point in the travel ecosystem. This was followed by “TravShield” an upgraded safety commitment of only vaccinated staff and co-passengers among many other precautions, that ensures traveller safety in the pandemic era. Read more

Nifty Auto nosedives 3.5% with all stocks in deep red; Tata Motors, Maruti, M&M, MRF, Hero MotoC

Published on: 10:40 am

  • Nifty Auto stocks were in a bloodbath on last day of this week's trading session as massive selling pressure seen on the markets. Equity benchmarks witness a disturbing trend going on which offset the gains of the sector. All the stocks traded with negative bias. The index shed almost 3.5% with heavyweights Maruti, Bharat forge, Tata Motors dropping the most percentage amid bearish markets tone.
  • Also, re-emergence of Covid cases all over the countries is the major concern for the investors while news about renewed lockdown restriction in the states and decline in the already recovering business activities led to investors mood bearish for the markets. Read more

Market pulse at 10:30 AM today

Published on: 10:30 am

  • Equity market indices in the deep red territory amid weak global cues. Sensex down 2%, Nifty below 17,300.
  • BSE Sensex is at 57,831.12 down 963.97 points or 1.64%.
  • Nifty50 is at 17,247.10 down 289.15 points or 1.65%. Nifty Bank is 36,567.80 down 2.13%. Mid-cap Index also shed 2.13%. Read more

Tarsons Products makes tepid listing, stock debuts at 6% premium to IPO price

Published on: 10:11 am

  • Tarsons Products, an Indian labware company, saw a tepid debut on the bourses. The shares were listed with a 5.74% premium. This is the 52nd company to list on the mainboard in 2021.
  • The stock began trading at Rs700 per share, up Rs38 or 5.74% from the upper end of the IPO price band of Rs662 apiece.
  • The stock opened at Rs700 on the BSE, while the opening price on the NSE was at Rs682. Read more

Markets nosedive; Sensex sheds 1,025 pts, Nifty 50 erases 17,250; Bank, Consumer Durables drag; Baja

Published on: 10:00 am

  • Indian markets were in a nosedive on Friday's opening bell with Sensex plummeting by nearly 1,070 points and Nifty 50 contracting by around 320 points so far since the trading session began. Nifty 50 was even struggling to hold over 17,200-level, while Sensex gave up 58,000-mark. The domestic benchmarks were in deep red due to weak global cues as traders hastily lean towards bonds after news about new detection of a variant in the Covid-19 that could possibly be vaccine-resistant.
  • Concerns about renewed lockdown restrictions and decline in the already recovering business activities led to investors appetite bearish for equities.
  • There was a massive demand for pharma stocks in a broader selloff making them the top bulls of today so far. Metal, Banking, Auto, Consumer Durables and Oil & Gas were worst hit. Read more

Orosil Smiths India launches ORO (Gold) coins under its brand 'Sincere'

Published on: 9:56 am

Orosil Smiths India has launched hallmarked Gold Coins under its “Sincere”’: Gold Jewellery Brand, with specifications of 2.5 gm, 5 gm and 10 gm on Thursday.
  • With the beginning of the wedding season, the Company has announced its new collection of gold coins, which shall be key instrumental in the Company’s business, considering the market expected from its launch. Be it gifting or investment or traditional buying, the gold coin has its own significance in the Indian culture.
  • The Gold Coins of different designs engraved and weight shall be available for online purchase on the Company’s web portal w.e.f. December 10, 2021 and safe hand over to the prospective customers on pan India basis. Read more

AGC Networks sheds 2% after renamed as 'Black Box Limited'

Published on: 9:48 am

  • AGC Networks Ltd has announced that the company is now renamed as 'Black Box Limited'.
  • As per regulatory filing, the Registrar of Companies, Mumbai has approved the change in name of the Company from “AGC Networks Limited” to “Black Box Limited” with effect from November 24, 2021 by virtue of “Certificate of incorporation pursuant to name change” issued by the Registrar of Companies, Mumbai on November 24, 2021. Read more

JSW Energy’s board nods re-organisation of Green (Renewable) and Grey (Thermal) biz

Published on: 9:27 am

  • The Board of Directors of JSW Energy Limited has approved the re-organisation of the Company’s Green (Renewable) and Grey (Thermal) Businesses. As a result of this re-organisation, all the existing and upcoming renewable energy businesses will be housed under ‘JSW Energy Neo Limited’, a wholly owned subsidiary of the Company.
  • This is in line with the announcement made by the Company on July 30,2021 stating that the Board had approved the evaluation of re-organisation of Green and Grey businesses.
  • This move will help the Company in building and streamlining its renewable portfolio and setting up a holding structure which is efficient for fund-raising and unlocking value for shareholders. In May’21, JSW Hydro Energy had issued green bonds of USD 707 million, which was the largest hydro green bond issuance in Asia. Read more

Swan Energy to divest 100% stake in wholly-owned subsidiary

Published on: 9:22 am

  • Swan Energy Ltd has  informed to the exchanges regarding divestment of wholly owned subsdiary of the company.
  • As per regulatory filing, it is informed that the company has decided to divest its 100% shareholding at par (10,000 equity shares of Rs. 10/- each) in one of its Wholly Owned Subsidiary (WOS), :M/s Swan Desilting Private Limited (SDPL), not being the 'Material Subsidiary'. Read more

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