Live market updates

14th Jan, 2022

BCPL Railway Infra bags order for supply and installation of smart energy meter from WEBEL; Stock en

Published on: 4:30 pm

  • BCPL Railway Infrastructure Limited stock ends 8% higher at Rs54.70 per piece on Sensex today after the Company secured order for supply and installation of smart energy meter from the West Bengal Electronics Industry Development Corporation Limited (WEBEL).
  • This order has been received for the work of “SITC of Dual Source Smart Energy Meter BN-4, BN-9, Kalyani (Ph-II) and Rajarhat (Ph-II) IT Park”. The total project cost comprises of Rs10 million.
  • Commenting on the same, Aparesh Nandi, Chairman said, “We at BCPL Railway Infrastructure Limited are pleased to inform our stakeholders on our recent order intake for installation of smart energy meter from the West Bengal Electronics Industry Development Corporation Limited. Read more

PVR to open 4-screen property in Andhra Pradesh

Published on: 4:26 pm

  • PVR Ltd. announced the opening of a 4-screen property in Narsipatnam Andhra Pradesh. The said property will be equipped with cutting-edge technologies and features Clarus Screens from Harkness and Christie 2K projectors which will deliver an immersive viewing experience to moviegoers.
  • For an unparalleled surround sound experience, the audios host advanced Dolby 7.1 and Dolby ATMOS that truly allows crystal clear, high-definition immersive audio. This will be the first theatre in the town to have DOLBY ATMOS. Read more

Get Access to Stock Reports+ And Customised Investment Ideas

Waaree Energies gets Sebi nod to launch its Rs1500cr IPO

Published on: 4:26 pm

  • Waaree Energies Ltd, country's largest solar module manufacturer & fastest growing EPC Company with presence across 68 countries has received approval from markets regulator Sebi to launch its initial public offering (IPO).
  • In September, the company had filed draft papers with Sebi. The IPO comprises fresh issue of shares worth Rs1350cr, and an offer for sale up to 4,007,500 equity shares by the company's promoters and existing shareholders. Read more

Aditya Birla Fashion and Retail collaborates with Germany’s GIZ to boost circular economy in the cou

Published on: 4:22 pm

  • Aditya Birla Fashion and Retail Limited (ABFRL), one of India’s leading fashion companies, announced that it has collaborated with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH for implementing an India specific project to strengthen the textile and apparel industry for sustainable clothing. This unique initiative is part of the ‘develoPPP programme’ and is being implemented by ABFRL and GIZ on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ).
  • With this collaboration, ABFRL and GIZ aims to strengthen circular business practices for the Indian market. This will support the industry to match supply and demand which was witnessing pressure due to resource constraints. Read more

WPI Inflation halts 4-months rising trend, eases to 13.56% in December 2021

Published on: 4:19 pm

  • India's wholesale price index (WPI) inflation comes at 13.56% (Provisional) for December 2021 (over December 2020) as compared to 1.95% in December 2020. The WPI eased from a four-month rising trend.
  • The high rate of inflation in December 2021 is primarily due to the rise in prices of mineral oils, basic metals, crude petroleum & natural gas, chemicals and chemical products, food products, textile and paper and paper products etc as compared to the corresponding month of the previous year. Read more

SBI announces successful pricing of its first international USD denominated public bond (Formosa Bon

Published on: 4:19 pm

  • India’s largest commercial bank, State Bank of India (SBI), acting through its London branch raised USD 300 million of “Regulation S” Formosa bonds at a coupon rate of 2.49 per cent. The bond is benchmarked against the 5yr US Treasury and priced at a spread of 100 bps over the benchmark). The bonds will be listed on Taipei Exchange (TPEx), Singapore Exchange Securities Trading Limited (“SGX-ST”) and India International Exchange IFSC Limited (“India INX”).
  • The transaction received an overwhelming response and saw strong interest from investors across geographies. A wide range of investors such as supranational agencies, assets managers, private bankers and financial institutions have invested in the issue. On the back of strong demand, the price guidance was revised from T+130 bps area to T+100 bps. Read more

Reliance Industries signs MoU with Gujarat govt; Stock ends flat

Published on: 4:12 pm

  • Reliance Industries Limited (RIL) signed MoU today with the Government of Gujarat for a total investment of Rs5.955 lakh crore as part of Investment Promotion Activity for Vibrant Gujarat Summit 2022. These projects will create 10 lakh direct / indirect employment opportunities in the State.
  • To make Gujarat net zero and carbon free, RIL proposes to invest Rs5 lakh crore in the State over the span of 10 to 15 years to set up 100 GW Renewable Energy Power Plant and Green Hydrogen Eco-System development. RIL will develop an eco-system for assisting Small and Medium Enterprises (SMEs) and encourage entrepreneurs to embrace new technologies and innovations leading to captive use of Renewable Energy and Green Hydrogen. Read more

Rama Phosphates stock ends 7% higher after signing MoU with Rajasthan govt

Published on: 4:00 pm

  • Rama Phosphates Ltd has informed that the Company has signed Memorandum of Understanding (MOU) on January 12, 2022 with Government of Rajasthan for a total investment of Rs15cr for implementing the project and development of Single Super Phosphate powder/granules on the existing land area of approximate 7200 sq.mt. at Umra Jhamar Kotra Road, Udaipur in Rajasthan.
  • This investment in the project will accelerate the physical and social developments of the State by generating employment and other spin off benefits to its economy. Read more

Onward Technologies record steady growth of 33.74% yoy in revenue for Q3 FY’22

Published on: 3:43 pm

  • Onward Technologies reported stellar growth in revenue at Rs 7,726.49 lakhs for the quarter ending December 2021, 33.74% yoy higher than December 2020 quarter.
  • It reported EBITDA for Q3 at Rs 97 million, with an EBITDA margin of 12.55%. The company’s consolidated PAT stood at Rs 50 million for Q3, as against Rs 235.34 of the previous period, indicating growth of 111.63%.
  • On the 9M results front, it reported revenue of Rs 2,198 million for Q3 FY’22 against Rs 17,404 million for the quarter ending December 2020. Read more

Markets snap 4-day rally to end flat; IT stocks outperform

Published on: 3:41 pm

  • Domestic equities snapped four days’ rally to close almost flat on the back of weak global cues with the Nifty 50 down marginally by 0.1%. The broader market outperformed the main indices, Nifty Midcap 50 dipped 0.03%, while Nifty Smallcap 50 index was up 0.45%. The market recovered in the last hour of the trading session and Sensex closed down marginally by 12.27 points or 0.02% at 61,223.03, and the Nifty was down 2 points or 0.01% at 18,255.80
  • Most sectoral indices saw a crunch except Nifty Realty, Nifty PSU Bank, Nifty Metal and Nifty IT. Nifty Realty gained the most at 1.35%, followed by Nifty IT at 0.61%.
  • Tata Consumers, TCS, Infosys, Larsen & Toubro, IOC, HDFC Bank, Tech Mahindra, Ultratech cement, Kotak Bank, HCL Tech, NTPC and Bajaj Finance gained in a sluggish day.  Read more

Max Specialty Films elevates K Manohar to the position of Chief Executive Officer

Published on: 3:30 pm

  • Max Ventures Limited informed the exchanges that its subsidiary Max Specialty Films Limited (MSF) has accepted the resignation of Ramneek Jain as its Chief Executive Officer effective January 14, 2022; and elevated K. Manohar, currently the Chief Technology Officer, to the position of Chief Executive Officer effective January 14, 2022, to provide continuity and directions to the operations of MSF.
  • The company had informed on November 14, 2022, with respect to the proposal for sale/disposal/alienation of the entire 51% of the paid-up share capital held by MSF, a material unlisted subsidiary of the Company, in two tranches, to Toppan Inc. Read more

NXT DIGITAL sells land in Hyderabad for Rs69.30cr; Stock slips 1%

Published on: 3:20 pm

  • NXTDIGITAL Limited has successfully completed the transaction of sale of land parcel held by it in Hyderabad on Thursday.
  • The Sale Agreement was signed and registered with the appropriate authorities in Hyderabad on January 13, 2021 and the balance consideration received, said company in a filing. Read more

India's exports rises 25% yoy to $57.87B in December 2021, imports climb 34% yoy

Published on: 3:15 pm

  • The Ministry of Commerce & Industry announced that India’s overall exports (Merchandise and Services combined) in December 2021 are estimated to be $57.87 Billion, exhibiting a positive growth of 25.05% over the same period last year and a positive growth of 23.35% over December 2019.
  • India’s overall exports (Merchandise and Services combined) in April-December 2021 are estimated to be $479.07 Billion, exhibiting a positive growth of 36.31% over the same period last year and a positive growth of 20.25% over April-December 2019. Read more

3i Infotech appoints Sriram as Director; Stock trades 3% higher

Published on: 3:10 pm

  • 3i Infotech Limited board on Thursday approved the appointment of Sriram V. as an Additional Non-Executive Director of the Company with immediate effect.
  • Sharing his brief profile, the company said, Sriram V. has been with the IT/ITES industry for nearly 4 decades. He has worked in various leadership positions for over 20 years such as Global VP HP Services based out of the USA, VP HP Shared Services Centres in India, VP IT Services CGI, Director - HP BPO Asia-Pacific Japan, GM Operations HP India S/W Operations to name a few. Read more

Piyush Goyal urges Global Venture Capital Funds to focus on Startups from Tier 2 and 3 cities

Published on: 3:10 pm

  • Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, Piyush Goyal has called upon the Global Venture Capital (VC) Funds to focus more on Startups from Tier 2 and 3 cities.
  • Chairing the 4th Roundtable with Global Venture Capital Funds, organised by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry,  Goyal invited the VCs to explore new sectors for investing, promote and protect the intellectual property created by the young Indian entrepreneurs, provide expertise to scale-up and explore greater capital infusion including risk capital. Read more

Nifty IT denies volatile markets trend, index tops 250 pts as heavyweight TCS, Infosys, Tech Mahind

Published on: 3:05 pm

  • Nifty IT index denied markets volatility on Friday as heavyweight TCS and Infosys were in a super rally despite majority stocks traded in the red. Corporate earnings season continues to influence markets outlook. Investors await HCL Tech Q3 earnings that are scheduled for later today, while they reacted to Mindtree's financial performance.
  • TCS, Infosys and Wipro were first to announce their Q3 earnings in the sector. TCS and Infosys surpassed analysts estimates, while Wipro missed estimates. Mindtree also beat street expectations, however, was the top bear on the index today as investors cashed in gains. Read more

Ind Ra assigns Lagnam Spintex long-term issuer rating at 'BBB-' with Positive outlook

Published on: 2:46 pm

  • India Ratings and Research (Ind-Ra) has assigned Lagnam Spintex Limited (LSL) a Long-Term Issuer Rating of 'IND BBB-'. The Outlook is Positive while short-term ratings has been assigned at IND A3.
  • The ratings reflect LSL’s strong credit metrics backed by the absence of any debt-funded capex, experienced promoters and the company’s track record of over a decade in the manufacturing of cotton yarn.
  • As per rationale report, the Positive Outlook reflects Ind-Ra’s expectation of a significant improvement in LSL’s scale of operations and EBITDA margins in FY22, leading to an improvement in the overall credit metrics. Furthermore, an increase in the working capital limits is also likely to support the overall liquidity position. Read more

Asian markets decline with Nikkei 225 index taking most beating

Published on: 2:46 pm

  • Asian markets on Thursday were broadly on a negative note tracking selloff of overnight from Wall Street, with energy and technology stocks primarily dragging the markets to the downside.
  • Japan’s Nikkei 225 fell 1.28% to close at 28,124.28, while the Topix tumbled 1.39% to 1,977.66, South Korea’s Kospi fell 1.36% at 2,921.92 and Australia’s ASX 200 slipped 1.08% at 7,393.90. Hong Kong’s Hang Seng index fell 0.32%.
  • On the economy front, China’s exports grew slightly more than expected in December, while imports rose less than expected, according to customs data released Friday. Read more

HG Infra receives provisional completion certificate for EPC project in Rajasthan; Stock spurts 5%

Published on: 2:41 pm

  • HG Infra Engineering Limited (HGIEL) has received the provisional completion certificate for the development and up-gradation project in Rajasthan. The provisional certificate of completion dated January 13, 2022, has been issued by the authority and the project has been provisionally declared fit for entry into operation on November 15, 2021.
  • The project is Development and Upgradation of Jodhpur — 2018 Marwar Junction –Jojawar Section of SH-61 & 61A Length 119.095 km (Package. no. WB/RSHDP II/EPC/03) in the state of Rajasthan on Engineering, Procurement & Construction (EPC) Mode. Read more

Pre-Budget expectations from FinTech companies

Published on: 2:36 pm

  • Ms. Shruti Aggarwal, Co-founder, Stashfin
  • "Government's digital push has opened the doors for financial inclusion and the fintech revolution. I'd like for the budget to have a dedicated focus on driving the fintech ecosystem in the country. Fintech industry has the ability to help propel the Indian economy to the place it rightly deserves. Just as PSL (priority sector lending) helped priority sectors of the economy that may require credit and financial assistance from NBFCs, it will be beneficial for Fintechs start-ups if more segments are included that drive financial inclusion for citizens with limited credit footprint. Currently the on-lending by banks to NBFCs is allowed up to an overall limit of five percent of individual bank’s total priority lending. If this gets increased to 7%, it will further boost the economy. Read More

Pre-Budget expectations from FinTech companies

Published on: 2:36 pm

Ms. Shruti Aggarwal, Co-founder, Stashfin

"Government's digital push has opened the doors for financial inclusion and the fintech revolution. I'd like for the budget to have a dedicated focus on driving the fintech ecosystem in the country. Fintech industry has the ability to help propel the Indian economy to the place it rightly deserves. Just as PSL (priority sector lending) helped priority sectors of the economy that may require credit and financial assistance from NBFCs, it will be beneficial for Fintechs start-ups if more segments are included that drive financial inclusion for citizens with limited credit footprint. Currently the on-lending by banks to NBFCs is allowed up to an overall limit of five percent of individual bank’s total priority lending. If this gets increased to 7%, it will further boost the economy. Read more

Market pulse at 2:30 PM today

Published on: 2:30 pm

  • Indices trim losses but continue to trade lower; FMCG, Pharma stocks drag.  
  • BSE Sensex is currently 61,143.12 down 92.18 points or 0.15%.
  • Nifty50 is currently 18,239.90 down 17.90 points or 0.1%. Nifty Bank is at 38,319.45, down 0.39%. Mid-cap Index is down 0.14%.
  • Tata Consumer, Infosys, Adani Ports, IOC, and Larsen & Turbo are the top gainers. Asian Paints, Axis Bank, UPL, HDFC, and HUL are the top losers.
  • Nifty FMCG, Pharma, Banking and Financial Services stocks drag while Realty stocks are bullish. IT and Consumer Durables stocks also trade higher.
  • Out of 50 stocks traded on the NSE, 21 advanced, 28 declined and 1 unchanged. Read More

GTPL Hathway stock plunges over 2% post Q3 results

Published on: 2:30 pm

  • GTPL’s shares dipped over 2.25% after Q3 result announcement. 
  • GTPL Hathway Q3 FY22 ISP Revenue stood at Rs 1,054 million; up by 35% y-o-y; while 9M FY22 at Rs 2,978 million; strolled by 51% y-o-y.
  • The company’s EBITDA (incl. EPC) for Q3 FY22 recorded at Rs1,473 million, and Q3 FY22 EBITDA (ex-EPC) Rs 1,472 million; and Q3 FY22 PAT stood at Rs 546 million; up by a whopping 21% y-o-y. Read More

Jubilant Foodworks board to consider stocks split proposal on Feb 02

Published on: 2:17 pm

  • Jubilant Foodworks Ltd has informed that a meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, February 2, 2022.
  • In the board meeting the directors will consider:
  • Proposal for alteration in the capital of the Company by sub-division/split of existing equity shares of the Company having face value of Rs. 10/- each, fully paid up. Read more

Pre Budget Expectation from upcoming Union Finance Budget 2022-2023 for Personal Finance

Published on: 2:13 pm

  • "We believe 2022 will be an incredible year for the Indian IT & ITeS industry. Despite facing the worst hit during the second pandemic wave, IT spending in India was unaffected and is forecasted to increase by 7% this year. We believe the upcoming fiscal policy will encourage technology adoption. From a macro perspective, we expect it to support innovation and drive business resilience by leveraging new-age technologies.
  • Digital transformation should be an ongoing effort by the Indian government to pave the way for more agile and dynamic businesses. Prioritizing this effort would also result in hiring a workforce to deliver on the technological needs. Fueled by technological progress, India's economic growth will increase exponentially. Read more

Asian Granito incorporates new subsidiary AGL Surfaces; Stock soars 4.5%

Published on: 2:11 pm

  • Asian Granito Limited has incorporated wholly-owned subsidiary company named AGL Surfaces Private Limited on January 12, 2022. The company has been incorporated with an object to undertake the business activities pertaining to Ceramic Industry.
  • The subscribed capital of AGL Surfaces is Rs1 lakh consisting of 10,000 Equity Shares of Rs10 each.
  • The company stock was bullish on Friday. At around 2.14 PM, Asian Granito India Ltd was trading at Rs128.15 per share up by Rs5.4 or 4.4% from its previous closing of Rs122.75 per share on the BSE. Read more

Hero Motocorp expands operations in El Salvador, sales boost

Published on: 2:07 pm

  • Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, today has announced further expansion of its operations and commencement of sales at a newly opened flagship store in the El Salvador's capital city San Salvador.
  • Customer response to the company’s new state-of-the-art dealership located in El Pedregal to purchase Hero MotoCorp’s products was massive.
  • The new showroom is expanded over a horizon of 600 sq. mt. which displays Hero MotoCorp’s world-class products such as the Xpulse 200, Hunk 150, and Hunk 160R motorcycles also, Dash 125 scooter, and offers 3S (sales, services, and spares). Its workshop is equipped with high-end products, well-trained assistants, and provide best-in-class after-sales service to the customers. The company is offering a 40,000 km or 4-year warranty across its range of products. Read More

Budget Expectation quote from Mukesh Kumar, CEO, Infiniti Malls

Published on: 2:06 pm

  • “The pandemic has been extremely straining and challenging for the retail sector. The lockdown and restrictions imposed for brief periods, mandating limitations on retailing hours, movement of people, operational days, entry basis vaccination, etc., have all resulted in retailers and establishment owners incurring heavy losses. While the festive season did boost sales and growth trajectory, statistics did indicate that things were slowly pacing back to recovery. The new variant and the surge of cases have again slowed down business.
  • The retail sector contributes a huge percentage to India’s GDP, ranging from an average of 8 to 10%. This industry, which is worth billions of dollars and employs millions of people, must receive a much-needed boost from the government to push it back to recovery and elevate the industry.
  • We are hoping that the government takes the situation under consideration and allocates resources to plan for the revival of the retail sector in the upcoming Union Budget. The allocated resources could essentially help a lot of small retailers who have been the worst affected, as well as others in the industry. “ Read More

JSW Infrastructure raises US$ 400 Mn through its debut in the International Bond Markets

Published on: 1:42 pm

  • JSW Infrastructure Ltd, India’s leading private sector infrastructure development company and part of the US$ 13 billion JSW Group, successfully priced a US$ 400 million 144A/Reg S Senior Secured Guaranteed Sustainability-Linked Bond for a 7-year tenor at 4.950%.  The proceeds of this issue will be used to repay the existing debt of the Company and its subsidiaries and as permitted by RBI under the ECB Guidelines.
  • This fund raise marked the Company’s debut bond issue as well as the first Sustainability-Linked Bond (SLB) from an Indian ports company. JSW Infrastructure also became one of the few companies to successfully issue a long tenor high yield corporate bond in their debut issuance itself. Read More

Market pulse at 1:30 PM today

Published on: 1:30 pm

  • BSE Sensex is currently 61,084.92 down 150.38 points or 0.25%.
  • Nifty50 is currently 18,223.40 down 34.40 points or 0.19%. Nifty Bank is at 38,228.45, down 0.63%. Mid-cap Index is down 0.23%.
  • Tata Consumer, Infosys, Adani Ports, IOC, and Larsen & Turbo are the top gainers. Asian Paints, Axis Bank, UPL, ONGC, and HUL are the top losers.
  • Nifty Pharma, Banking and Financial Services stocks drag while Realty stocks are bullish. It and Consumer Durables stocks also trade higher.
  • Out of 50 stocks traded on the NSE, 19 advanced, 30 declined and 1 unchanged. Read More

Ircon International incorporates SPV Ircon Haridwar Bypass for NHAI project; Stock gains 1%

Published on: 1:19 pm

  • Ircon International Limited (IRCON) has incorporated a Wholly Owned Subsidiary Company named "Ircon Haridwar Bypass Limited" on January 13, 2022 as a Special Purpose Vehicle (SPV) for the purpose of upgradation and Four Laning of Haridwar Bypass Package-1 from Km.0+000 (Km. 188+100 of NH-58) to Km.15+1 00 (Km. 5+100 of NH 74) in the State of Uttarakhand on Hybrid Annuity Mode.
  • As per regulatory filing, Ircon Haridwar Bypass Limited is promoted by Ircon International Limited and being a wholly-owned subsidiary, is a related party of the Company.
  • The business of a wholly-owned subsidiary is in line with the main line of business of the Company. Read more

Third Covid wave could mildly affect non-banks’ collection efficiency: Ind-Ra

Published on: 1:11 pm

  • India Ratings and Research (Ind-Ra) opines non-bank finance companies (NBFCs) are much better placed to handle the possible impact of the ongoing third covid wave. While the third wave is more rapidly spreading, the need for hospitalisation and casualty has been lower while the healthcare infrastructure seems to be prepared to cope with the rising numbers. The probability of a severe nationwide lockdown, at the moment, seems low with restrictions being imposed at the regional level. In absence of any restrictions, the impact on the cash flow of NBFC borrowers may remain modest.
  • Furthermore, a large proportion of the weaker borrowers of NBFCs would have been filtered out in the first two waves. Read more

Nifty Metal stocks stutter after Thursday's stellar rally; NMDC, JSW Steel, Tata Steel, Hindalco und

Published on: 1:10 pm

  • After a stellar rally on Thursday, metal stocks were involved in a choppy trade on Friday amid overall weak domestic markets. The metal index jumped over 3% on Thursday. Welspun Corp led the gains while Jindal Steel also outperformed. NMDC, JSW Steel, Tata Steel, Hindustan Copper, and Hindalco were under pressure.
  • Investors keep watching metal companies who are set to announce December 2021 (Q3FY22) quarterly results starting from next week.
  • Globally, China’s imports of unwrought copper and copper products slipped in 2021 from the previous year’s record, though imports of copper concentrate hit a historic high. Read more

Sanofi India’s MD Rajaram Narayanan steps down to pursue other opportunities

Published on: 1:10 pm

  • Sanofi India, on Thursday, announced the acceptance of resignation of its Managing Director Rajaram Narayanan w.e.f. close of business hours on April 10, 2022.
  • Rajaram has decided to work on an opportunity outside the Sanofi Group. The company will appoint its successor in the meantime for smooth functioning of its business, said the company.
  • Rajaram has had an excellent journey since his joining in 2014 as a general manager until his promotion as Country Lead and Managing Director. Read More

ICRA revises ratings on Hindustan Aeronautics' credit facilities; Stock jumps 1.6%

Published on: 12:47 pm

  • Hindustan Aeronautics Limited has informed that ICRA has upgraded Long-term rating to [ICRA]AAA; outlook revised to Stable while short-term rating reaffirmed at [ICRA] A1+.
  • The upgrade in the long-term rating factors in the sustained improvement in Hindustan Aeronautics Limited's (HAL) working capital position in H1FY2022 while maintaining healthy revenues and profitability. 
  • The Stable outlook on the [ICRA]AAA rating reflects ICRA's opinion that HAL will continue to benefit from its strategic importance to the Indian defence forces, strong financial flexibility, high entry barriers and long track record of operations. Read more

Maithan Alloys announces IMFAL gradually scales up production of ferro alloys; Stock dips 1%

Published on: 12:40 pm

  • Maithan Alloys on Friday announced that the  Impex Metal & Ferro Alloys Limited (IMFAL) has successfully switched on its other furnace for manufacturing of ferro alloys.
  • The said commercial production is expected to begin by IMFAL later this month.
  • The production of ferro alloys is being gradually scaled up by IMPFAL.
  • At around 12.36 pm, the company's stock was trading at Rs1063.40 per piece down by 1.01% on Sensex. Read More

Datamatics enters in a long-term partnership with PSI Services for Customer Management Solutions; St

Published on: 12:40 pm

  • Datamatics Global Services Limited has entered into a long-term strategic partnership with PSI Services (PSI), a global leader in workforce solutions.
  • The company said in a filing that as part of this engagement, Datamatics will provide Customer Management Solutions through a combination of Remote Proctoring, Customer Support, and Technical Support. This will be omnichannel support via voice, chat, and email; offered as a 24/7 service from Datamatics centers across India and The Philippines.
  • PSI is a global leader in secure, data-driven solutions and delivers best-in-class assessment content through next generation technology and a science-based approach to testing across sectors, including certification, education and licensure. During the COVID-19 pandemic, with the changing business models, PSI was looking for a partner that can scale fast with quality resources to support their exponential business demand. Read More

Market pulse at 12:30 PM today

Published on: 12:30 pm

  • Benchmark market indices remain bearish; Realty stocks rally.  
  • BSE Sensex is currently 60,996.08 down 239.22 points or 0.39%.
  • Nifty50 is currently 18,196.45 down 61.35 points or 0.34%. Nifty Bank is at 38,125.25, down 0.90%. Mid-cap Index is down 0.28%.
  • Tata Consumer, Adani Ports, Infosys, IOC, and Larsen & Turbo are the top gainers. Asian Paints, Axis Bank, UPL, Nestle India, and ONGC are the top losers.
  • Nifty Banking & Financial Services stocks drag the most while Realty stocks rally. Consumer Durables stocks also stay higher.
  • Out of 50 stocks traded on the NSE, 19 advanced and 31 declined. Read More

Rupee falls against US Dollar amid volatile markets

Published on: 12:30 pm

  • On Friday, the Indian Rupee weakened against the US benchmark dollar index at the forex interbank market due to volatile equities markets and higher crude oil prices that led to nervousness among investors. In the early trade, the rupee weakened 19 paise to 74.09 per dollar.
  • The domestic currency weakened after a stream of hawkish remarks made by the US Federal Reserves after the country's inflation reached four decades low.
  • To put an end to ultra-easy monetary conditions, the Fed has signalled to hike interest rates sooner-than-expected most likely in March. The dollar index against a basket of currencies has hit a 2-months low. Read more

RBI governor meets with FSDC Sub-Committee to review economic developments and assess scenarios emer

Published on: 12:28 pm

  • The Reserve Bank of India (RBI) governor Shaktikanta Das chaired a meeting of the Financial Stability and Development Council (FSDC) Sub Committee (FSDC-SC).
  • The Sub-Committee reviewed the major developments in the global and domestic economy as well as in various segments of the financial system and discussed the assessments of members about the scenario emerging from the third wave of the COVID-19 pandemic.
  • Also, the FSDC-SC discussed various inter regulatory issues and matters relating to the use of Aadhaar based e-KYC and Aadhaar Enabled Payment System by regulated entities. Read More

Aurobindo Pharma stock dips over 4% after Hyderabad-based unit 1 receives USFDA warning letter for O

Published on: 12:22 pm

  • Aurobindo Pharma has received a warning letter from the USFDA for the OAI classification of the company's Unit I, an API manufacturing facility in Hyderabad.
  • In its regulatory filing today, Aurobindo said that this action follows the recent inspection of the Unit by the USFDA in August 2021. The Company believes that this will not impact the existing business from this facility.
  • Aurobindo said it will be engaging with the regulator and is fully committed to resolving this issue at the earliest. The Company is also committed to maintaining the highest quality manufacturing standards at all of its facilities across the globe.  Read more

Ashoka Buildcon emerges as L-1 bidder for NHAI road project of Rs829.5cr

Published on: 12:21 pm

  • Ashoka Buildcon Limited has announced to the exchanges regarding emerging as Lowest Bidder for NHAI road project.
  • As per regulatory filing, the company had submitted Bid to the National Highways Authority of India in respect of the Project viz. 'Request for Proposal for Construction of 6 laning from Belgaum to Sankeshwar Bypass from Km. 515+000 to Km. 555+017 of NH-48 in the state of Karnataka on Engineering, Procurement & Construction (EPC) Mode under Bharatmala Pariyojana (Package-I)'.
  • Further, the Company has emerged as the Lowest Bidder (L-1) and the quoted Bid Price of the Project is Rs829.49cr. Read More

Ircon International incorporates SPV Ircon Renewable Power; Stock up 1%

Published on: 12:03 pm

  • Ircon International Limited has incorporated a subsidiary and Joint Venture Company named ‘Ircon Renewable Power Limited’ on Thursday as a Special Purpose Vehicle (with 76% shareholding of Ircon International Limited and 24% shareholding of Ayana Renewable Power Private Limited) for setting up of 500 MW Grid Connected Solar PV Project awarded by Indian Renewable Energy Development Agency Limited.
  • The Company has subscribed to 38 lakh equity shares of Rs10 each aggregating to Rs3.80cr.
  • “Ircon Renewable Power Limited is promoted by Ircon International Limited & Ayana Renewable Power Private Limited (Promoters) and being a Subsidiary and JV Company, is a related party of the promoters,” company said in a filing on Thursday. Read more

Tata Metaliks Q3 PAT declines to Rs35.65cr, revenue rises; Stock dips over 3.5%

Published on: 11:56 am

  • Tata Group-backed Tata Metaliks clocked a net profit of Rs35.65cr for the quarter ending December 2021 (Q3FY22), declining from a net profit of Rs75.43cr in Q3FY21 and Rs54.82cr in Q2FY22.
  • On the contrary, revenue from operations stood at Rs689.80cr in the quarter under review, rising from Rs526.23 of Q3FY21 and Rs644.84cr of Q2FY22.
  • The total expense of the company stood at Rs642.83cr in Q3FY22 increasing steeply compared to 419.37cr of Q3FY21 and Rs566.95cr of Q2FY22. Read More

HDFC Bank board grants over 2.85 lakh equity shares under ESOS

Published on: 11:43 am

  • HDFC Bank has informed that the Bank has allotted 2,85,700 equity shares to the employees of the Bank pursuant to exercise of options under its Employees Stock Options Scheme (ESOS).
  • The Paid up Share Capital of the Bank will accordingly increase from Rs. 5542399476 equity shares of Re.1/- each to Rs. 5542685176 equity shares of Re.1/- each, said the Bank in a regulatory filing on Thursday.
  • The bank will announce its Q3 FY22 numbers tomorrow.
  • On Friday at around 11:45 AM, HDFC Bank was trading at Rs1535 per piece higher by 0.44% on the BSE. Read More

Tips Industries hits fresh 52-week high after CARE withdraws its credit ratings on request

Published on: 11:42 am

  • Tips Industries Limited informed the exchanges Thursday that the company is no longer availing of credit facilities. Thus, at the request of the Company, the CARE Ratings Limited, Credit Rating Agency, has withdrawn of the rating assigned to the bank facilities of the Company.
  • “We have noted that Tips Industries Limited has surrendered the aforementioned bank facilities rated by us and there is no outstanding under the said facility as of date. Taking cognizance of this, we hereby withdraw our rating for Tips Industries Limited’s bank facilities, with immediate effect,” CRISIL said in its withdrawal letter. Read More

Dhampur Sugar Mills stock jumps 3% after completing expansion of Distillery Capacity at Asmoli unit

Published on: 11:35 am

  • Dhampur Sugar Mills has completed expansion of Distillery Capacity at Asmoli unit based in Uttar Pradesh from 150 KLPD to 250 KLPD. With this expansion, distillation capacity of the Company now stands at 500 KLPD.
  • The company's expansion was done to augment ethanol production, Government of India has fixed better prices of ethanol produced from C & B Heavy Molasses, Syrup and Cane Juice. Also, producing ethanol from B Heavy Molasses /Syrup/ Cane Juice, not only assures a higher price of ethanol but also reduces sugar inventory through sugar sacrificed in B Heavy/Syrup/Cane Juice. Read More

Plastibends record highest ever income of Rs17,521 lakhs in Q3 FY22

Published on: 11:34 am

  • Plastiblends announced its financial results updates for the third quarter and nine months ending December 2021 on Friday. The company achieved the highest ever recorded quarterly income of Rs 17521 lakh as against Rs 17261 lakh in Q2, showing sequential growth of 2%.
  • Company’s EBITDA grew over 73%, at Rs 2,115 lakhs against Rs 1224 for Q2. Its PBT registered a whopping growth of 117% for the quarter, at Rs 1654 lakhs against Rs 763 lakhs for the quarter ending December 2020. Read More

Market pulse at 11:30 AM today

Published on: 11:30 am

  • Indices fall further amid volatile trade; Bank stocks drag.  
  • BSE Sensex is currently 60,871.58 down 363.72 points or 0.59%.
  • Nifty50 is currently 18,160.50 down 97.30 points or 0.53%. Nifty Bank is at 38,031.85, down 1.14%. Mid-cap Index is down 0.44%.
  • Tata Consumer, Adani Ports, IOC, Infosys, and BPCL are the top gainers. Axis Bank, Asian Paints, UPL, HDFC, and HCL Tech are the top losers.
  • Nifty Banking & Financial Services stocks drag the most while Consumer Durables stocks stay marginally higher.
  • Out of 50 stocks traded on the NSE, 14 advanced and 36 declined. Read More

ICRA withdraws and reaffirms credit ratings of Uttam Sugar Mills; Stock gains

Published on: 11:21 am

  • Uttam Sugar Mills Ltd has informed that to the exchanges regarding withdrawal of ratings assigned by ICRA on the request of the company.
  • As per regulatory filing, on the request of the company, ICRA has reaffirmed and withdrawn the credit rating assigned to the bank facilities of the company.
  • On December 24, 2021 ICRA has reaffirmed the ratings on bank facilities at [ICRA] BB+/[ICRA]A4 while the outlook revised to positive from stable.
  • The Positive outlook on the rating reflected ICRA’s opinion that USML will continue to benefit from its improved operational profile with expanded distillery capacities, lower volatility and expansion of operating profits. Read more

OPEN A DEMAT ACCOUNT & Get
FREE Benefits worth 10,000

Editors Choice

 

Blogs & Personal Finance

More

Stock View

Refinitiv Logo

Disclaimer : All estimates (1 year forward) are based on Consensus View provided by Refinitiv.

More
Open ZERO Brokerage Demat Account
Open ZERO Brokerage Demat Account

  • 0

    Delivery Brokerage for Lifetime

  • 20

    Per order for Intraday, F&O, Currency & Commodity