Live market updates

04th Apr, 2022

Kings Infra Ventures appoints Dr Thirunilath Vinayakumar as Independent Director

Published on: 4:15 pm

  • Kings Infra Ventures Ltd has announced the appointment of Dr. Thirunilath Vinayakumar as an Independent director of the Company.
  • The Board of Directors has approved the appointment in the category of Independent Non-Executive Director effective from March 31, 2022. "We are sure that the Board will benefit immensely from his rich knowledge and valuable experience", Shaji Baby John Chairman and Managing Director Kings Infra Ventures said. Read more

IEX wins ‘Most promising Company Of The Year’ award; Stock ends higher

Published on: 4:08 pm

  • The Indian Energy Exchange, India’s premium energy marketplace announced on Saturday that it has been conferred as the ‘Most Promising Company of The Year’ by Honorable Finance Minister, Nirmala Sitharaman at the 17th Edition of India Business Leader Awards (IBLA) organized by CNBC TV18.
  • S N Goel, Chairman and Managing Director of the Company received the award at the ceremony held on Friday April 1, 2022 at Mumbai.
  • “We are enthused to have bagged this prestigious award of being the Most Promising Company of the Year. This award is indeed a recognition of efforts over the last 14 years towards facilitating sustainable, and efficient energy future for India. We dedicate this Award to all our Stakeholders, Partners and Employees for their invaluable efforts and contributions in developing the energy markets fulcrumed on the innovation and technology. Read more

Get Access to Stock Reports+ And Customised Investment Ideas

Blue Star Engineering & Electronics inaugurates a new Medical Diagnostic Equipment Refurbishment

Published on: 3:56 pm

  • Blue Star Limited’s wholly-owned subsidiary, Blue Star Engineering & Electronics Limited (Blue Star E&E), on Saturday announced the inauguration of its new medical diagnostic equipment refurbishment facility at Bhiwandi, Maharashtra. This 15,000 sq ft state-of-the-art facility is fully equipped to refurbish a wide array of pre-owned medical diagnostic imaging systems, including CT (Computed Tomography) scanners, and Permanent Magnet MRI and Supercon MRI (Magnetic Resonance Imaging) machines.
  • The company said, With a rich pedigree of more than 6 decades, Blue Star E&E has always led the way in the field of Healthcare Systems, delivering high-performance systems to provide a high degree of diagnostic confidence, extraordinary patient comfort, and absolute ease of use. These systems continue to lead the way in the industry, delivering high-performance and patientcentric imaging systems. Read more

Sensex surges 1300 points; Nifty above 18,050; Financial stocks gain; HDFC twins outperform

Published on: 3:43 pm

  • Domestic equities closed higher on Monday led by the financial sector which rallied post the announcement of the HDFC Bank and HDFC Ltd. merger. The indices surged to hit their highest in more than two-and-a-half-month, however, investors' circumspection of the Russia-Ukraine crisis and its impact on the markets, remained.
  • The 30-share BSE Sensex zoomed 1,335 points or 2.25 per cent to close at 60,612, while the broader NSE Nifty moved 383 points or 2.17 per cent higher to settle at 18,053.
  • Broader markets underperformed compared to the main indices with Nifty Midcap and Nifty Smallcap gaining 1.6% each. Read more

SPML Infra signs agreement of Jal Jeevan Mission-Isarda water supply project valued at ~Rs1,157 cror

Published on: 3:35 pm

  • SPML Infra Limited has signed the Contract Agreement with PHED, Rajasthan for a large water supply ‘Isarda Water Supply Project’ under the Jal Jeevan Mission to provide clean drinking water to 25 Lac population in Dausa and Sawai Madhopur districts in Rajasthan.
  • The project valued at Rs1157.80 crore (USD 151.60 Million) is aimed to provide clean drinking water facilities to about 25,00,000 people residing in 1256 villages and 6 towns of Dausa and Sawai Madhopur districts in Rajasthan. The project will be completed within the stipulated 24 months period (3% incentive will be given for completing before timeline) and after the defect liability in a year period, SPML Infra will be responsible for managing the operation & maintenance of the project for next 10 years’ time. Read More

CARE revises credit ratings of Dilip Buildcon

Published on: 3:35 pm

  • Dilip Buildcon Limited has received a revision in credit ratings for bank facilities and non-convertible debentures (NCDs) from CARE Ratings. The rating on long-term bank facilities (Rs1940 crore) has been revised to CARE A-; Stable from CARE A; Stable.
  • For long-term/ short term bank facilities (Rs4500 crore) - CARE A-; Stable / CARE A2+ has been revised from CARE A; Stable/ CARE A1. The rating on Non-convertible debentures (Rs300 crore) has been revised to CARE A; Stable from CARE A; Stable. Read more

Jubilant Pharmova to acquire 25.21% stake of Greencure; Stock surges 6%

Published on: 3:04 pm

  • Jubilant Pharmova Limited has entered into a Share Purchase Agreement, and Share Subscription and Shareholders Agreement on April 1, 2022 for acquiring equity and preference shares of SPV Laboratories Private Limited (Greencure)
  • The company will acquire 29,645 equity shares of the face value of Rs10 each at a premium of Rs74.33 per share and subscription of 10,07,937 Compulsorily Convertible Series A Preference Shares (Series A CCPS) of face value of Rs10 each at a premium of Rs74.33 per share, aggregating to Rs8.75 crore.
  • This will amount to the acquisition of 25.21% of the share capital of Greencure on a fully diluted basis. Read More

Mishra Dhatu Nigam records highest ever sales of Rs861.73 crore for FY22; Stock gains 1%

Published on: 2:36 pm

  • Mishra Dhatu Nigam Limited (MIDHANI) has recorded highest ever sales of Rs861.73 crore (provisional and unaudited) for FY 2021-22 compared to Rs813.23 crore for FY 2020-21.
  • Highest ever Exports of Rs87.02 crore (provisional and unaudited) was recorded for FY 2021-22 compared to Rs19.42 crore for FY 2020-21. Even with disruption in production activities due to the second wave of COVID-19 pandemic, MIDHANI was able to mitigate the impact on production with better planning and execution. Read more

Market pulse at 2:30 PM today

Published on: 2:30 pm

  • Indices maintain a 2% upside as metal stocks join banking and financial services in bullish run.
  • BSE Sensex is 60,492 up 1215.31 points or 2.05%.
  • Nifty50 is currently 18,003.35 up 332.90 points or 1.88%. Nifty Bank is at 38,443.45 up 3.49%. Mid-cap Index is up 1.28%. Read more

PTC zooms ~11% on logging 87,000 million unit trade volume in FY22

Published on: 2:20 pm

  • PTC India’s scrip added nearly 11% so far in the day as it informed investors of clocking a trade volume of 87,450 million units in the financial year 2021-22, registering a growth of 9.25% over the last year.
  • PTC India’s stock was trading at Rs95.25, up by 10.56% against its previous close of Rs86.15 on NSE.
  • In the previous financial year, the company facilitated the import of power by Bhutan to meet an intermittent requirement of about 400 MW in the winter season. Read more

CRISIL revises rating outlook on Inox Leisure bank facilities; Stock down 1%

Published on: 2:14 pm

  • CRISIL Ratings has revised its rating outlook on the long-term bank facilities of INOX Leisure Limited from ‘CRISIL A+/Stable’ to ‘CRISIL A+/Watch Positive’ and revised the Short Term Rating from ‘CRISIL A1’ to ‘CRISIL A1/Watch Positive’ rating.
  • The rating action follows the announcement made by the company on March 27, 2022, regarding approval from the boards of INOX and PVR Inox Leisure inking merger deal to create largest multiplex chain in India
  • The combined entity will be named PVR Inox Limited with the branding of existing screens to continue as PVR and Inox. As per the agreement, Inox will merge with PVR in a share swap ratio of 3 shares of PVR for every 10 shares of Inox. Read more

Vodafone Idea trades higher as British telecom major Vodafone raises stake to 47.61%

Published on: 2:01 pm

  • Vodafone Idea’s counter sets a higher tone in today's trade as the British telecom giant Vodafone raised its stake in the debt-ridden company. Vodafone has raised its stake to 47.61% through its subsidiary Prime Metals from the existing 44.39% stake in the company.
  • Prime Metals has acquired 2,18,55,26,081 equity shares, representing 7.61 per cent of the equity share capital of Vodafone Idea Limited through allotment of equity shares pursuant to a preferential issue of the company. Read more

CSB Bank sees 5.48% yoy growth in total deposits for FY22; stock zooms ~2%

Published on: 1:49 pm

  • CSB Bank has informed exchanges and investors of provisional data for the financial year ended March 31, 2022.
  • The company has reported total deposits (provisional) of Rs20,188.30 crore for the current period ended March 2022, registering a growth of 5.48% yoy, against Rs19,140.04 crore for the period ended March 2021.
  • Out of total deposits, CASA deposits stood at Rs6,795.17 crore for the financial year 2021-22 as against Rs6,161.80 crore for the previous financial year, up by 10.28% yoy. Read more

WardWizard registers sales of 30k units of electric two-wheelers in FY22; Stock spurts 2%

Published on: 1:46 pm

  • WardWizard Innovations and Mobility Ltd, manufacturers of the country’s leading electric two-wheeler brand Joy e-bike closed the fiscal year (FY’22) with the highest-ever sales of 30,761 units, registering a growth of 702% amidst all the challenges. The company had sold 3,834 units of electric two-wheelers in FY’21.
  • Continuing with the strong sales performance with its popular range of electric two-wheelers, the company clocked sales of 5,020 units in March 2022, registering a growth of 328%, as compared to March 2021, when the company had sold 1,174 units of electric two-wheelers. Read more

IRCTC restores 6 days a week schedule in Mumbai Ahmedabad Tejas Express; Stock climbs 2%

Published on: 1:45 pm

  • With encouraging trends of travel on the sector and good patronage for the train, IRCTC has decided to restore full 6 days service (now Tuesday also) in a week w.e.f April 12, 2022. Thursday shall be the default weekly maintenance off, company said in a filing on Friday.
  • IRCTC is quite sensitive to the safety & health of its passengers and is closely monitoring the pandemic. The guideliness of the local states are being followed and preventive safe measures like sanitisation of passenger touch areas are being adhered.
  • IRCTC hence invites all travellers on the route between Ahmedabad and Mumbai to travel with us on the train in comfort with sumptuous F&B services on board taken care by a mix of Rail Hosts and Hostess in every coach. This train is fully secured and has its in house security with full access control. Please Come and experience the premium services. Read more

Market pulse at 1:30 PM today

Published on: 1:30 pm

  • BSE Sensex is 60,453.06 up 1176.37 points or 1.98%.
  • Nifty50 is currently 17,990.75 up 320.30 points or 1.81%. Nifty Bank is at 38,419.15 up 3.42%. Mid-cap Index is up 0.91%.
  • HDFC, HDFC Bank, HDFC Life, Hero MotoCorp, and Adani Ports are the top gainers. Infosys, Tata Consumer, Asian Paints, Grasim, and Bajaj Finserv are the top losers. Read more

Shreeji Translogistics honored with Premier Bonded Trucking Operator Award at India Cargo Awards 202

Published on: 1:23 pm

  • Shreeji Translogistics Limited, which has grown to become one of the largest integrated national logistical solution providers in India, has recently bagged Premier Bonded Trucking Operator Award at India Cargo Awards 2022.
  • "Success does not begin with receipt of awards, but it begins with the satisfaction that we feel after achieving the goals set by us. As the pandemic struck, most business leaders showed resilience in the face of adversity. They rose to the occasion, did course corrections wherever needed, and steered their business to new heights." Read more

CARE reaffirms Trident credit rating; Revises Outlook to Positive

Published on: 1:17 pm

  • The ratings of the bank facilities Rs2,480.76 crore of Trident Limited have been upgraded/ reaffirmed by CARE Ratings Limited.
  • The rating on long-term bank facilities Rs690.76 crore has been reaffirmed at CARE AA; Positive. Outlook revised from Stable. For long-term / short-term bank facilities Rs1,590 crore CARE AA; Positive / CARE A1+ has been reaffirmed. Outlook revised from Stable. For short-term bank facilities Rs200 crore CARE A1+.
  • At around 1.20 pm, Trident Ltd was trading at Rs54 per share up by Rs0.3 or 0.56% from its previous closing of Rs53.70 per share on the BSE. Read more

Lupin to acquire portfolio of brands from Anglo-French Drugs & Industries; Stock jumps over 1.5%

Published on: 12:58 pm

  • Lupin Ltd stocks rally in today's market session after the announcement of acquisition of portfolio of brands from Anglo-French Drugs & Industries Limited.
  • As per regulatory filing, the company informed that it has signed Definitive Agreement with Anglo-French Drugs & Industries Limited for acquiring a portfolio of brands (including all rights and interests associated with such products), to strengthen the Company’s presence in Vitamins, Minerals & Supplements and CNS segments. Read More

BCPL Railway Infra bags order worth Rs184.37 million from Tata Steel; stock plummets ~15%

Published on: 12:50 pm

  • BCPL Railway Infra Limited has informed that Tata Steel Limited has given an order comprising of project cost of Rs184.37 million for Installation of Over Head Electric Equipment Post Tippling Yard at TSM Angul Plant under Khurda Road Division of East Coast Railway.
  • Contributing towards providing services to the private sidings of limited companies apart from the Indian Railways, BCPL Railway Infrastructure Limited delightfully updated its esteemed stakeholders that the company bagged an order from Tata Steel Limited at its Angul Plant, Narendrapur, PO. Kusupanga, Meramandali, Dist. Dhenkanal, Odisha, India. Read more

U GRO Capital appoints Smita Aggarwal as an Additional Independent Director

Published on: 12:43 pm

  • U GRO Capital, a listed MSME lending fintech platform, today announced the appointment of Ms Smita Aggarwal as Additional Independent Director of the company.
  • Smita has three decades of experience in finance as a banker, lender, regulator and an investor. She is Global Investments Advisor for Flourish Ventures, a global fintech focussed fund, and leads investments in innovative fintech start-ups that help advance financial health and inclusion in Asia. Smita is on the Fintech Advisory Board of New York University and Global Fintech Fest.
  • She is also a member of the Board of Directors of IIFL Asset Management Company and guest faculty for “Fintech in Emerging Markets” at the Stern School of Business, New York University. Read More

TCS helps Stellantis Group transform Omnichannel customer experience in Brazil and Argentina

Published on: 12:42 pm

  • Tata Consultancy Services (TCS) has helped Stellantis, a world-leading automaker and mobility provider, transform the customer experience journey with a more streamlined and personalized sales and service experience across channels.
  • The automaker, whose brands include Fiat, Jeep, RAM, Peugeot, and Citroën, wanted to modernize its legacy customer relationship management applications that needed the flexibility to respond to changing business models. Stellantis chose TCS as its strategic partner to drive this transformation and reimagine customer engagement using the Salesforce platform. Read more

HDFC Bank, HDFC stocks soar 8% on proposed merger deal; Both stocks among top Nifty 50 gainers

Published on: 12:42 pm

  • Shares of HDFC Bank and HDFC zoomed over 8% on the stock exchange and was among the top Nifty 50 gainers on Monday’s trade. HDFC Bank has witnessed over a 12-fold jump in volume, while HDFC has recorded a near 6-fold jump in trading volume so far on Friday.
  • On Monday, HDFC said in an exchange note that it will merge with private lender HDFC Bank. Under the proposed deal, shareholders of HDFC Ltd will receive 42 shares of the bank for 25 shares held.
  • The companies expect the deal -- subject to regulatory approvals -- to be completed in the second or third quarter of the financial year starting in April 2023. Read more

HDFC Bank, HDFC stocks soar 8% on proposed merger deal; Both stocks among top Nifty 50 gainers

Published on: 12:42 pm

  • Shares of HDFC Bank and HDFC zoomed over 8% on the stock exchange and was among the top Nifty 50 gainers on Monday’s trade. HDFC Bank has witnessed over a 12-fold jump in volume, while HDFC has recorded a near 6-fold jump in trading volume so far on Friday.
  • On Monday, HDFC said in an exchange note that it will merge with private lender HDFC Bank. Under the proposed deal, shareholders of HDFC Ltd will receive 42 shares of the bank for 25 shares held.
  • The companies expect the deal -- subject to regulatory approvals -- to be completed in the second or third quarter of the financial year starting in April 2023. Read more

Ultracab skyrockets 20% upper circuit as it bags prestigious orders from Governments and PSUs

Published on: 12:38 pm

  • Ultracab (India) Limited, a certified wires, and cables company informed that it has bagged prestigious orders from various Governments and Public Sector Companies of India named Gujarat State Electricity Co. Ltd (GSECL), Southern Power Distribution Company of Telangana Ltd., Gujarat Narmada. Fertiliser Company Ltd. (GNFCL), Hindustan Aeronautics Limited (HAL), National Fertiliser Ltd.
  • Ultracab is the leading manufacturer and exporter of electric wires and cables in India, and working in this domain for more than 22 years.
  • As the leading manufacturer and exporter of electric wires and cables in Gujarat (India), have specialized in Instrumentation Cables, Elevator Cables, High-Temperature Automotive Cables, and UL Approved Cables. Read More

Nifty Bank & Financial Services drive market bulls; HDFC twins top performers

Published on: 12:35 pm

  • Domestic benchmark indices were upbeat from Monday morning after banking majors HDFC and HDFC Bank announced a merger deal. Sensex breached 60K and Nifty crossed 18k after HDFC and HDFC Bank led the gains while HDFC Life and HDFC AMC were also in the fast lane.
  • At around 12.36 PM, BSE Sensex was trading at 60,217.87 up 941.18 points or 1.59% and Nifty 50 at 17,926.80 up 256.35 points or 1.45%. Nifty Bank was trading at 38,276.10 up 1,127.60 points or 3.04% and Private Bank at 19,355.65 up 524.60 points or 2.79%.
  • Nifty Financial Services was trading at 18,077.85 up 610.70 points or 3.50% and PSU Bank at 2,861.90 up 27.40 points or 0.97%. Read More

Market pulse at 12:30 PM today

Published on: 12:30 pm

  • Benchmark market indices remain well higher despite trimming gains.
  • BSE Sensex is 60,243.32 up 966.63 points or 1.63%.
  • Nifty50 is currently 17,937.80 up 267.35 points or 1.51%. Nifty Bank is at 38,300.80 up 3.10%. Mid-cap Index is up 0.76%.
  • HDFC, HDFC Bank, HDFC Life, Hero MotoCorp, and Tata Steel are the top gainers. Infosys, Tata Consumer, JSW Steel, Grasim, and ITC are the top losers.
  • Nifty Banking & Financial Services stocks continue to drive the bullish markets on Monday while Nifty IT and Realty stocks fall into red zone.
  • Out of 50 stocks traded on the NSE, 41 advanced, and 9 declined. Read More

Karnataka Bank stock advances 6% after CASA deposits reach 32.97% as on March 31

Published on: 11:51 am

  • Mahabaleshwara M.S, MD & CEO, of Karnataka Bank addressed the staff members of branches and offices across the country on April 1, 2022 from the Head Office, Mangaluru through virtual mode. Apart from reviewing the year gone by, Mahabaleshwara M.S, outlined the blueprint of the strategies and broad plan of action for the new financial year 2022-23.
  • At around 11:53 AM, Karnataka Bank was trading at Rs0.75 per piece higher by 5.65% on Sensex.
  • Addressing the staff members, Mahabaleshwara M.S said, "As per the provisional numbers Bank has achieved an historic high of 32.97% CASA deposits as on March 31, 2022. The business turnover of the Bank stood at Rs,38,111.00 crore with a growth rate of 7.59 % consisting of deposits of Rs 80,385.00 crore and advances of Rs 57,726.00 crore as per the provisional figures. Read more

NTPC declares commercial operation of 80 MW Jetsar Solar PV Project; Stock gains over 1%

Published on: 11:46 am

  • NTPC Limited on Saturday declared Commercial Operation of last part capacity of 80 MW out of 160 MW Jetsar Solar PV Project.
  • “Consequent upon successful commissioning and due approvals, last part capacity of 80 MW out of 160 MW Jetsar Solar PV Project at Rajasthan, is declared on Commercial Operation w.e.f. March 25, 2022,” company said in a filing. Read more

Hindustan Organic Chemicals announces temporary shutdown at Kochi plant till April 10

Published on: 11:39 am

  • Hindustan Organic Chemicals Ltd (HOCL) has informed to the exchanges that its Kochi plant will be temporarily shutdown from April 01, 2022 to April 10, 2022 due to the below mentioned reason.
  • As per regulatory filing, HOCL, Kochi unit in the state of Kerala (Phenol Complex) is the only manufacturing unit which is engaged in manufacturing of Phenol, Acetone, Hydrogen Peroxide. One of the major raw material for Phenol manufacturing is LPG. LPG is supplied by M/s. BPCL through pipelines. Read more

JSW Energy signs 1,000 MW Hydro Pumped Storage MoU with Chhattisgarh Government; stock zooms 5%

Published on: 11:32 am

  • JSW Energy Limited has entered into a Memorandum of Understanding through its wholly-owned subsidiary, JSW Neo Energy, with the Government of Chhattisgarh for setting up a 1,000 MW capacity of Hydro Pumped Storage Project viz. Hasdev Bango Pumped Storage Project, in the State of Chhattisgarh.
  • Development of energy storage solutions such as Hydro Pumped Storage Projects (PSP) has become essential to solving intermittent power supply from renewables. Hydro Pumped Storage is a well-established technology that provides adequate peaking power reserves, energy balancing, reliable grid operation, and storage capacity. Read more

Market pulse at 11:30 AM today

Published on: 11:30 am

  • Indices maintain a 2% upside on bullish banking and financial services stocks.     
  • BSE Sensex is 60,518.87 up 1242.18 points or 2.10%.
  • Nifty50 is currently 18,023.05 up 352.60 points or 2%. Nifty Bank is at 38,365.05 up 3.27%. Mid-cap Index is up 0.98%.
  • HDFC, HDFC Bank, HDFC Life, Hero MotoCorp, and Hindustan Unilver are the top gainers. Infosys, Cipla, JSW Steel, ONGC, and Tata Consumer are the top losers.
  • Nifty Banking & Financial Services stocks continue to drive the bullish markets on Monday.
  • Out of 50 stocks traded on the NSE, 43 advanced, 6 declined and 1 unchanged. Read more

Dr Reddy's to acquire Novartis' cardiovascular brand Cidmus in India

Published on: 11:22 am

  • Dr. Reddy's Laboratories Limited has entered into an agreement with Novartis AG to acquire the cardiovascular brand Cidmus in India.
  • Under the agreement, Dr. Reddy’s will be assigned and transferred the Cidmus trademark in India from Novartis AG for a consideration of USD 61M (United States Dollars Sixty One Million only or Rs465.3 crore).
  • The Cidmus brand shall be affixed on the pharmaceutical composition comprising a combination of Valsartan and Sacubitril (currently under Novartis patent) which is indicated for heart failure patients with reduced ejection fraction. The tablets are available in three strengths. Read more

Garden Reach Shipbuilders & Engineers achieves highest ever turnover of of Rs1750 crore in FY22; Sto

Published on: 11:15 am

  • Garden Reach Shipbuilders & Engineers Limited (GRSE), one of the leading warship builders in the country has recorded the highest ever turnover of Rs1750 crore (Provisional & unaudited) for FY22, reflecting yoy growth of 53%.
  • The company said in a filing on Saturday that despite being a labour intensive industry, the company effectively managed the challenges posed by the COVID 19 pandemic and progressed operations, continuously improving internal efficiencies. GRSE has also declared an interim dividend of Rs4.95 per equity share of Rs10 for FY22 against Rs3.85 in FY21, reflecting a remarkable increase of 28.57 %. The shipyard is also a zero-debt company and continues to retain the highest credit rating from Brickwork. Read more

Bharat Dynamics records turnover of Rs2700 crore in FY22; Stock climbs 2%

Published on: 11:10 am

  • Bharat Dynamics Limited has informed that the company recorded a turnover of Rs2700 crore approx. (provisional and unaudited) for the financial year ended on March 31, 2022 (corresponding figure for the previous year was Rs1913.76 crore).
  • On Monday at around 11:11 AM, Bharat Dynamics was trading at Rs583 apiece up by Rs12.15 or 2.13% against its previous closing of Rs570.85 apiece on the BSE. Read More

ICRA : Domestic base metal companies to benefit from buoyant metal prices; outlook remains positive

Published on: 11:02 am

  • Post a sharp improvement in FY2022, the credit profile of the domestic non-ferrous metal players is expected to remain healthy in FY2023 driven by supportive base metal prices. The buoyancy in metal prices is expected to outweigh input cost pressures, which will support the profitability of domestic base metal companies in FY2023.
  • Given the strong performance, the credit metrics of the companies in ICRA’s sample set, notwithstanding minor moderations, are also expected to remain healthy, with a projected total debt/OPBDITA of 1.6 times and interest cover of 8.0 times during FY2023 compared to a total debt/ OPBDITA of 1.3 times and interest cover of 9.0 times estimated in FY2022. International prices of base metals have been up sequentially by ~3-18% during Q4 FY2022 compared to the previous quarter and are expected to remain elevated in the first half of FY2023, owing to supply-side constraints in the near term. Read More

TVS Motor acquires 70% stake in United Kingdom-based EBCO for GBP 1,163,070

Published on: 11:01 am

  • TVS Motor Company Limited subsidiary TVS Motor (Singapore) Pte. Limited has acquired a 70% stake in United Kingdom-based EBCO Limited, for GBP 1,163,070.
  • EBCO provides smart connected mobility solutions through a pipeline of e-bikes across the city and mountain biking segments. The company has tie ups with most major dealers across the United Kingdom and is the exclusive distributor of Corratec e-bikes in the UK. In addition, TVS Motor registers sales of 3.07 lakh units in March 2022, which fell compared to 3.22 lakh units sold in same month last year. Read More

Indo Count completes acquisition of home textile business of GHCL

Published on: 10:58 am

  • Indo Count Industries Limited, a leading manufacturer and exporter of Home Textiles has today announced the successful completion of the acquisition of the Home Textile business of GHCL Ltd. at Bhilad (Vapi), Gujarat, on a going concern basis by way of a slump sale and acquisition of specified assets of Grace Home Fashions LLC ("GHF"), US subsidiary of GHCL for an all-cash consideration of Rs592.8 crores (subject to validation of customary closing date adjustment of working capital in terms of BTA and ATA).
  • Commenting on the above, Mr. Anil Kumar Jain, Executive Chairman, said: “We are extremely happy to announce the completion of the acquisition and warmly welcome the new team to the Indo Count family. We are confident that this foray will successfully meet our long-term aspirations and create value for our global customers and all stakeholders." Read more

Tata Power Renewables commissions 300 MW Solar plant in Gujarat; sets up India’s largest single-axis

Published on: 10:52 am

  • Tata Power Renewables Energy Ltd (TPREL), a wholly-owned subsidiary of Tata Power has commissioned a 300 MW project in Dholera, Gujarat. It is India’s largest single-axis solar tracker system.
  • The project will generate 774 MUs annually. Along with this, it will reduce approximately 7,04,340 MT/year of carbon emission. The installation entails 8,73,012 nos. of Monocrystalline PV Modules. The project was commissioned well within the stipulated timeline. Read more

Piramal Enterprises appoints Shikha Sharma to its Board; Stock up 1%

Published on: 10:51 am

  • Piramal Enterprises Ltd has informd that the Board of Directors at its meeting held on March 31, 2022 appointed Shikha Sharma as a Non-Executive Non-Independent Director of the Company with effect from March 31, 2022, liable to retire by rotation, subject to the approval of the shareholders of the Company.
  • Shikha Sharma is a B.A (Hons.) in Economics, PGD in Software Technology and PGD from IIM, Ahmedabad. She has rich experience in banking & insurance and has an excellent track record. She led the bank on a transformation journey from being primarily a corporate lender to a bank with a strong retail deposit franchise and a balanced lending book. Read more

Acrysil UK acquires Tickford Orange and its subsidiary Sylmar Technology

Published on: 10:51 am

  • Acrysil Limited’, leading global manufacturer of “Composite Quartz Kitchen Sinks” with German Technology, has announced that its wholly owned subsidiary ‘Acrysil UK Limited’ has agreed to acquire 100% shares of ‘Tickford Orange Limited’ (TOL), UK along with its wholly owned operating subsidiary ‘Sylmar Technology Limited’ (STL). STL is a manufacturer, distributer and customizer of high-quality solid surface products for kitchen and bathroom, for both domestic and commercial purposes for markets across United Kingdom.
  • STL has 3 key brands Maia, Minerva and Metis. Its manufacturing and distribution facility is centrally located in Alfreton, Derbyshire, UK. It’s a leading player in the UK solid surface market with an estimated 35% market share. It generates 80% of its revenue from sale of kitchen products and remaining from bathroom and marine related products. STL had a turnover of ~£14m in each of the two years leading up to the Covid-19 pandemic with the turnover for the CY20 (Covid impacted) being ~£11m. Further, for the CY21 (Covid impacted) STL had a turnover of ~£12m. STL is profitable and benefits from solid financial base and continued growth. Read more

Market pulse at 10:30 AM today

Published on: 10:30 am

  • Equity market indices are ~2.5% higher as banking and financial services surge over 4%.    
  • BSE Sensex is 60,733.05 up 1456.36 points or 2.46%.
  • Nifty50 is currently 18,063.45 up 393.00 points or 2.22%. Nifty Bank is at 38,624.30 up 3.97%. Mid-cap Index is up 0.75%.
  • HDFC, HDFC Bank, HDFC Life, NTPC, and Bharti Airtel are the top gainers. ONGC, Infosys, M&M, Maruti and IndusInd Bank are the top losers.
  • Nifty Banking & Financial Services stocks drive the bullish markets on Monday.
  • Out of 50 stocks traded on the NSE, 38 advanced and 12 declined. Read more

Indian Oil, Larsen & Toubro and ReNew to form JV for development of Green Hydrogen Business

Published on: 10:25 am

  • In a bid to enable India’s decarbonization push, Indian Oil Corporation Ltd., (IndianOil), the country’s top refiner and fuel retailer, Larsen & Toubro (L&T), India’s premier engineering, construction and IT/TS services conglomerate, and ReNew Power (“ReNew”), India’s leading renewable energy company, announced the signing of binding term sheet for the formation of a Joint Venture (JV) company to develop the nascent green hydrogen sector in India.
  • The tripartite venture is a synergistic alliance that brings together the strong credentials of L&T in designing, executing, and delivering EPC projects, IndianOil's established expertise in petroleum refining along with its presence across the energy spectrum, and the expertise of ReNew in offering and developing utility-scale renewable energy solutions.
  • Additionally, IndianOil and L&T have signed a binding term sheet to form a JV with equity participation to manufacture and sell Electrolyzers used in the production of Green Hydrogen. Read more

MOIL records best ever high grade production and sales of manganese ore in FY22; Stock gains 1.5%

Published on: 10:15 am

  • FY22 has been one of the best years of performance in the history of MOIL Limited as its turnover has almost touched the highest-ever achieved so far in FY19.
  • The total turnover of the company has been ~ Rs1436 crore in FY22 (provisional) registering growth of ~22% in comparison to previous year’s turnover of Rs1177 crore and is marginally lower than the highest-ever achievement of Rs1441 crore in FY19.
  • Despite the adverse impact of a second and third wave of Covid-19 affecting the operational activities of the Company for almost two months, MOIL has recorded the above performance. High grade ore production (6.53 lakh MT) and sales (6.65 lakh MT) is also at the highest level. This performance is the result of better product planning, marketing strategy and, most important, efforts put in by employees at all levels. Read more

GOCL Corporation receives IT demand for Rs45.72 crore; Stock sheds 1%

Published on: 10:04 am

  • GOCL Corporation Ltd has on April 01, 2022 received a notice of demand of Rs45.72 crore from the Income Tax Department in connection with Joint Development Agreement.
  • As per regulatory filing, a notice of demand is received in respect of the land situated at Kukatpally, Hyderabad. This pertains to assessment year 2013-14. Read more

Indo Count completes acquisition of Home Textile business of GHCL for Rs592.8 crore; Stock spurts 4%

Published on: 10:02 am

  • Indo Count Industries Limited, a leading manufacturer and exporter of Home Textiles has announced the successful completion of the acquisition of Home Textile business of GHCL Ltd. at Bhilad (Vapi), Gujarat, on a going concern basis by way of a slump sale and acquisition of specified assets of Grace Home Fashions LLC (GHF), US subsidiary of GHCL for an all-cash consideration of Rs592.8 crore (subject to validation of customary closing date adjustment of working capital in terms of BTA and ATA).
  • At around 10.08 am, Indo Count Industries Limited was trading at Rs176.35 per piece up Rs7.15 or 4.23% on the BSE. The stock hit a day's high of Rs179 per piece on the BSE.
  • Anil Kumar Jain, Executive Chairman, said: “We are extremely happy to announce the completion of the acquisition and warmly welcome the new team to the Indo Count family. We are confident that this foray will successfully meet our long-term aspirations and create value for our global customers and all stakeholders. Read more

Bharat Forge jumps ~1% as committee nods Rs400 crore fund raise plan

Published on: 9:58 am

  • Bharat Forge Limited informed that it received the Investment Committee - Strategic Business of the Company’s approval for the issuance of 2,000 listed, rated, unsecured, redeemable, non-convertible debentures of the face value of Rs10 lakh each, totaling Rs200 crore on a private placement basis.
  • The company has also approved another fundraising through availing of an unsecured loan up to an amount of Rs200 crore. So, the total fundraise amount stands at Rs400 crore. Read more

GTPL Hathway increases stake in GTPL Rajwadi to 72%; Stock soars 4.5%

Published on: 9:42 am

  • GTPL Hathway Limited has subscribed 33,571 equity shares of Rs10/- each at the rate Rs585/- per share of GTPL Rajwadi on April 1, 2022 in lieu of settlement of the outstanding dues as per Share Subscription Agreement executed on April 1, 2022. The increase in shareholding in GTPL Rajwadi is strategic in nature.
  • The Company's shareholding in GTPL Rajwadi has increased from 25% to 72% and it has become a subsidiary of the Company.
  • At around 9.45 am, GTPL Hathway Ltd was trading at Rs191.95 apiece up Rs8.35 or 4.55% on the BSE. The scrip opened at Rs187.60 and has touched a high and low of Rs192.85 and Rs187.60 respectively. Read more

Markets trade bullish; Sensex tops 700 pts, Nifty above 17,900; Bank outperforms; HDFC, HDFC Bank to

Published on: 9:41 am

  • Indian markets kicked started this week's trading session on a bullish note despite mixed global cues on Monday as investors found comfort by falling of brent crude oil globally which bolstered risk appetite in stocks. At the domestic front, broad-based buying was witnessed in both Sensex and Nifty. Except for auto and IT, all other sectoral indices witnessed upside. Banking and financial stocks outperformed after the announcement of HDFC and HDFC Bank transformational merger.
  • Investors cheered the GST collection data which has recorded to all-time high of Rs1.42 lakh crore in March 2022 while net direct collection also rises to 50% to record Rs13.81 trillion in FY22, according to the government released data.
  • Meanwhile, the markets are expected to be volatile for the week amid Reserve Bank of India (RBI) MPC meeting which will be held from April 6 to 8 this week.  Read more

Avenue Supermarts reports 17.8% yoy jump in Q4FY22 revenue; Stock up 1%

Published on: 9:32 am

  • Avenue Supermarts Limited (DMart) reported a 17.8% yoy jump in Q4FY22 revenue on a standalone basis. As per a release issued by the company on Sunday, the company’s standalone revenue from operations for the quarter ended March 2022 rose to Rs8,606.09 crore from Rs7,303.13 crore. Read more

OPEN A DEMAT ACCOUNT & Get
FREE Benefits Worth 5,000

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 Demat Account

  • 0

    Per Order for ETF & Mutual Funds Brokerage

  • 20

    Per Order for Delivery, Intraday, F&O, Currency & Commodity