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05th Apr, 2022

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Tata Power Solar commissions 160 MW AC Solar project in Rajasthan

Published on: 4:41 pm

Tata Power Solar Systems Limited, a wholly-owned subsidiary of Tata Power Company, commissions a 160MW AC solar project at Jetstar, Rajasthan. The company has used 6,75,000 numbers of monocrystalline PV modules in this installation. The company estimates production of 387MUs of energy per year through this project.
The Jetstar project was completed within a period of 15 months and vouched for Tata Power Solar's exceptional project execution capabilities.
The project engineers worked under tough climatic conditions including the movement of men and machinery to the project site. Read more

TCS signs multi-year contract with a large American company to accelerate their cloud transformation

Published on: 4:40 pm

Tata Consultancy Services Ltd has signed a material multi-year contract with a large American company expanding its long-standing partnership to accelerate their cloud transformation journey and transform their technology landscape into a modern hybrid cloud stack for greater agility, flexibility, and improved operational resilience.
The cloud-enabled operating model will be powered with advanced cognitive automation capabilities which will improve availability of business applications and enhance user experience. Read more

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Ramkrishna Forgings wins export order of Rs135 crore from Euroasian OEM; Stock ends ~7% higher

Published on: 4:10 pm

Ramkrishna Forgings Limited, one of the leading suppliers of rolled, forged and machined products has received biggest recent export order worth Rs135 crore from a Euroasian OEM manufacturer for the Heavy Duty Commercial Vehicle Crank Shafts (06 CYL) Business to be executed in next five years.
Commenting on the order win Lalit Khetan, Executive Director & CFO, Ramkrishna Forgings Limited said: “This order validates our knowledge of heavy-duty commercial vehicle products and demonstrates our ability to match global quality standards. These order wins not only raise the profile of our international business but also contribute to the strengthening of our long-term customer relationships, which we will be able to leverage for future orders. Read more

Markets end lower led by financial stocks; Sensex slumps 435 pts on profit-booking in HDFC twins, Ni

Published on: 4:09 pm

Domestic markets took a breather after yesterday’s surge and ended lower. After the flat start, the benchmark hovered in a range and ended around the day’s low dragged by heavyweights and a lack of cues from other Asian markets, many of which were shut for a public holiday.
A day after HDFC twins' stellar run on merger news, some traders resorted to booking profits, and both HDFC and HDFC Bank scrips retreated over 2-3%.
Amid all, sectoral indices traded mixed wherein profit booking in banking & financials dragged the indices lower. However, buying in power, consumer durables, and FMCG packs capped the downside. Read more

Goa Carbon temporary shuts down operations for maintenance work at Bilaspur unit

Published on: 3:40 pm

Goa Carbon Ltd has informed tothe exchanges regarding temporary shut-down at the company's Bilaspur unit.
As per regulatory filing, the operations at the Company's Bilaspur Unit located at 34-40, Sector B, Sirgitti Industrial Area, Bilaspur (Chhattisgarh) have been temporarily shut down for maintenance work from April 05, 2022. Read more

CARE improve outlook of Stylam Industries

Published on: 3:24 pm

CARE Ratings has improved the outlook of Stylam Industries Limited. The rating on long-term bank facilities has been upgraded from CARE A-; Positive to CARE A; Stable. The rating on short-term bank facilities has been upgraded from CARE A2 to CARE A2+.
Towards close of trade on Tuesday, Stylam Industries Ltd was trading at Rs1,033 per share down by Rs15.55 or 1.48% from its previous closing of Rs1,048.55 per share on the BSE. Read more

CRISIL places PVR on ‘Rating Watch with Positive Implications’

Published on: 3:00 pm

CRISIL Ratings has placed its ratings on the long-term bank facilities and debt programmes of PVR Limited (PVR) on ‘Rating Watch with Positive Implications’.
“The rating action follows the announcement made by the company on March 27, 2022 regarding approval from the boards of PVR and INOX Leisure Ltd (INOX; rated CRISIL A+/CRISIL A1/Watch Positive’) for their merger. The amalgamation is subject to approval of the shareholders of PVR and INOX respectively, stock exchanges, SEBI and such other regulatory approvals,” company shared CRISIL’s rating rationale. Read more

Nazara invests $2.5 million in US-based Game Fund BITKRAFT Ventures; Stock soars 3%

Published on: 2:56 pm

Nazara Pte. Ltd. (“Nazara”), a wholly-owned subsidiary of Nazara Technologies Limited, an India based, diversified gaming and sports media company has announced their investment in US Based Game Fund BITKRAFT Ventures. Nazara will invest USD 2.5 Million in BITKRAFT Ventures out of which USD 0.875 Million will be invested upfront, while the balance investment amount of USD 1.625 Million will be deployed over a period of three years.
BITKRAFT Ventures is a leading investment platform for gaming and Web3 / blockchain projects globally. Nazara, with the above proposed investment, aims to build a network with Limited Partners (“LP”) as well as the investee companies to gain access into the global gaming ecosystem. Read more

Mindtree to acquire 6.64% strategic stake in COPE Healthcare; stock gains ~2%

Published on: 2:52 pm

Mindtree Limited informed that it has made a strategic investment and agreed to acquire a 6.64% stake in COPE Healthcare Consulting Inc., the USA pursuant to a Stock Purchase Agreement entered on April 4, 2022.
COPE Health Solutions is a leading U.S. healthcare consulting, implementation, and co-management leader in value-based care and payment, workforce development, and data analytics, to expand its healthcare business.
“Our investment in COPE Health Solutions unlocks the complementary value propositions of the two companies for the rapidly evolving healthcare sector in the U.S. to reduce the cost of care and improve outcomes,” said Venu Lambu, Executive Director and President, Global Markets, Mindtree. Read more

DCB Bank revises MCLR rates from today; Stock soars 3%

Published on: 2:45 pm

DCB Bank announces a revision to its Marginal Cost of Funds based Lending Rate (MCLR) with effect from today across tenors as below:

Overnight MCLR - 8.26%
One Month MCLR - 8.26%
Three Months MCLR - 8.96% Read more

Mahindra & Mahindra introduces new Alfa CNG in Cargo and Passenger variant

Published on: 2:42 pm

Mahindra Electric Mobility Ltd., part of the Mahindra & Mahindra Ltd., today announced it has launched new Alfa CNG Passenger and Cargo variants, based on its popular Alfa brand.
The new variant is minimally priced at Rs2,57,000 for the Alfa Passenger DX BS6 CNG and Rs2,57,800 for the Alfa Load Plus (ex-showroom Lucknow). Additionally, an Alfa Cargo and Passenger owner can save up to Rs4,00,000 extra in 5 years on fuel expenses when compared to diesel cargo 3-wheelers vehicles.
The vehicles will be sold across Mahindra dealerships in Andhra Pradesh, Karnataka, Uttar Pradesh, Telangana, Rajasthan, Gujarat, Delhi, Bihar, Maharashtra, Kerala, Madhya Pradesh, and Jharkhand. Read more

Market pulse at 2:30 PM today

Published on: 2:30 pm

Indices trade lower again with a fall in banking and financial services stocks.
BSE Sensex is 60,321.85 down 289.89 points or 0.48%.
Nifty50 is currently 18,002.85 down 50.55 points or 0.28%. Nifty Bank is at 38,346.10 down 0.75%. Mid-cap Index is up 1.17%. Read more

CAMS zooms ~4.5% on completion of acquisition of Fintuple Tech

Published on: 2:27 pm

Computer Age Management Services Limited’s (CAMS) counter jumped nearly 4.5% in today’s trade after it has completed the acquisition of Fintuple Technologies Private Limited.
The company has informed investors of and entering into Share Subscription and Purchase Agreement and Shareholders Agreement with the existing promoters and shareholders of Fintuple Technologies Private Limited to and with Fintuple make a strategic investment in the company by way of a primary and secondary acquisition amounting to 51 % of the total paid-up share capital in the form of equity shares. Read more

ICRA: Growing order books of capital goods players point to traction in private capex in FY23

Published on: 2:12 pm

As per ICRA report, Government’s investments towards infrastructure creation coupled with policies to achieve self-reliance in manufacturing (through production-linked incentive (PLI) schemes), strengthening technical competence and decarbonization are driving growth in the capital goods sector. This apart healthy demand prospects in several end user segments supported by recovery in consumer demand (including pent-up demand) are also resulting in capex traction.
Some of the key industries showing healthy capex include energy (power generation, predominantly renewable and storage, transmission, oil & gas, green hydrogen), digitalization (including data centres), core industries (cement, metals) and corporate sectors (automotive/ mobility, pharma, chemicals, textiles, among others), the report said. Read more

Dr. Reddy’s Laboratories launches Methylprednisolone Sodium Succinate in US Markets; stock marginall

Published on: 2:09 pm

Dr. Reddy’s Laboratories, along with its subsidiaries, has announced the launch of Methylprednisolone Sodium Succinate for Injection, USP, the generic equivalent of SOLU-MEDROL (methylprednisolone sodium succinate for injection, USP) in the U.S. Market approved by the U.S. Food and Drug Administration (USFDA).
The SOLU-MEDROL brand and generic witnessed sales of approximately $144 million MAT in the US Markets for the most recent twelve months ending in February 2022 according to IQVIA Health. Read more

Go Colors launches its 500th Store deepening its pan-India presence

Published on: 2:08 pm

Go Colors, owned by Go Fashion (India) Limited, launched its 500th Exclusive Brand Outlet (EBO) in the city of Pune. The store is located in SGS Mall, Pune. Go Fashion (India) Limited was founded in 2010 and is one of the leading women's bottom wear brands in the country.
The brand is popular for creating, designing, sourcing, marketing, and selling an exclusive collection of women's bottom-wear clothing branded 'Go Colors.' It is one of the few Indian apparel brands that had realized a market potential in the women's bottom wear segment and has positioned itself as the 'category creator' for bottom wear. Read more

Dr Lalchandani Labs empaneled with Airports Authority of India

Published on: 2:06 pm

Dr Lalchandani Labs Limited has announced that the company has been granted Empanelment of Airports Authority of India (AAI).
By empanelment, the Competent Authority has authorized “Dr Lalchandani Labs Limited” to provide Pathology and Radiology Services for AAI beneficiaries and their dependents including retired employees.
The organization is working in alignment with all the current projects to achieve the utmost goals by rendering more and in a better way to our clients, said Dr Lalchandani Labs in a regulatory filing. Read more

Tilaknagar Industries appoints Dipti Todkar as Company Secretary and Compliance Officer

Published on: 2:05 pm

Tilaknagar Industries Limited, one of the leading Indian-Made Foreign Liquor (IMFL) manufacturers, board has approved the appointment of Dipti Todkar as the Company Secretary and Compliance Officer (being the Key Managerial Personnel) of the company, with effect from March 30, 2022.
An Associate Member of the Institute of Company Secretaries of India, Ms Todkar joins Tilaknagar Industries (TI) with a vast experience spanning over fifteen years across the entire gamut of the Legal and Corporate Secretarial practice.
Prior to joining TI, Ms Todkar has worked with leading organisations that include Reliance Industries Limited, VVF Limited, Matix Fertilisers and Chemicals Limited and Kansai Nerolac Paints Limited. In her last role, she was the Company Secretary and Compliance officer at Prabhat Dairy Limited, managing the legal and secretarial affairs of the Group. Read more

Karur Vysya bank surges 3% as total business hits Rs1,25,000 crore milestone

Published on: 1:53 pm

In its press release today, Karur Vysya Bank Limited informed that the bank has crossed the milestone business figure of Rs1,25,000 crore.Total business constitutes the total deposits and advances of the Bank. While the total deposits of the bank stood at Rs68,676 crore as of March 31, 2022, the total advances at Rs58,086 crore, aggregating a total business of Rs126,762 crore.
Mr. Ramesh Babu, Managing Director & CEO of the Bank said, “This is a significant landmark in the 100 plus years history of the bank. We are thankful to all our customers, many of whom are second and third-generation customers of our bank, for their trust and support. The employees of the bank have worked over the years to ensure sustained quality of customer service. Our approach is to offer our customers, need-specific, financial products/services by providing tailor-made solutions and a positive customer experience through the delivery of quick and efficient services.” Read more

Ind-Ra assigns Emami Realty’s proposed long-term loan and bank facilities ‘IND A-’; Outlook Stable;

Published on: 1:45 pm

India Ratings and Research Private Limited (Ind-Ra) has assigned and upgraded Credit Rating of Emami Realty Limited’s Long-Term Bank Facilities and long-term loan at IND A-/Stable ('IND A-'; Outlook Stable).
“Ind-Ra has taken a consolidated view of ERL and its subsidiaries while arriving at the rating. The ratings factor in ERL's strong parentage and its linkages with the Emami Group including the tangible support extended by the latter,” company shared Ind-Ra rating rationale. Read more

ICRA reaffirms credit rating of Titan’s debt instruments worth Rs6,200Cr; stock jumps ~2%

Published on: 1:40 pm

Titan Company Limited informed that ICRA has reaffirmed the credit ratings assigned to the company’s debt instruments. ICRA has reaffirmed credit rating to ‘MAAA; stable’ assigned to earlier Fixed Deposits Programme worth Rs3,000 crore.
The rating agency has assigned a ‘AAA(Stable)’ rating to the company’s Fund Based instruments, and ‘A1+’ to its non-fund-based instruments. Both the instruments are worth Rs1,700 crore.
ICRA has given an ‘A1+’ rating to Titan’s commercial paper programme worth Rs1,500 crore. This rating indicates a very strong degree of safety regarding the timely payment of financial obligations. Such instruments carry the lowest credit risk. Read More

Inflame Appliances stock rallies over 3.5% after recovery of business from fire accident

Published on: 1:36 pm

Inflame Appliances Limited had earlier announced to the exchanges regarding fire accident at its one shed. Further, the company has updated that in the month of March 2022, Inflame Appliances has fully recovered Loss of Production caused due to fire.
Notable, the company is also very comfortable with orders for FY2022-23, said Inflame Appliances in a regulatory filing on Monday. Read more

Market pulse at 1:30 PM today

Published on: 1:30 pm

Domestic indices trade flat as Banking & Financial Services stocks recover from morning losses.
BSE Sensex is 60,656.51 up 44.77 points or 0.07%.
Nifty50 is currently 18,087.60 up 34.20 points or 0.19% Nifty Bank is at 38,597.00 down 0.10%. Midcap index is up 1.24%.
Adani Ports, Eicher Motors, Tata Motors, ONGC, and Tata Consumer are the top gainers. HDFC Bank, Bajaj Finserv, HDFC, Reliance and Hindalco are the top losers.
Nifty Consumer Durables, FMCG, Auto, and PSU Bank stocks remain bullish while Nifty Banking & Financial Services stocks recover major losses.
Out of 50 stocks traded on the NSE, 37 advanced, and 13 declined. Read more

BEML reports all-time record revenue from operations of Rs4,000Cr for FY22; stock gains ~1.5%

Published on: 1:20 pm

In its regulatory filing, BEML Limited informed the investors and exchanges that the company has achieved a record revenue from operation for the current fiscal year.
It stated that BEML has achieved all-time record revenue from operations of Rs4,000 crore for FY2021-22. However, the amount stated is provisional and not yet audited. So, the final outcome may differ. Read more

Bajaj Finance new loans in Q4FY22 grows to 6.3 million

Published on: 1:18 pm

Bajaj Finance Limited informed the exchanges Monday that the Customer franchise as of March 31, 2022 stood at 57.6 million compared to 48.6 MM as of March 31, 2021. The Company's customer franchise increased by 2.2 million in Q4 FY22. Customer franchise recorded a highest ever increase of 9.0 million in FY22, company said.
New loans booked during Q4FY22 were 6.3 million as compared to 5.5 million in Q4FY21. New loans booked during FY22 were 24.7 MM as compared to 16.9 MM in FY21. Read More

Persistent spurts ~3% as board to consider interim dividend on April 26

Published on: 1:09 pm

Persistent Systems Limited informed that the meeting of the board of directors of the company is scheduled to be held on Tuesday, April 26, 2022, and will continue on Wednesday, April 27, 2022, at Pune to consider interim dividend for the current fiscal year.
Post this development, Persistent’s counter jumped 2.62% so far in today’s trade. It is currently trading at Rs4,917 against its previous close of Rs4,791.50 on NSE. It hit the intraday high and low of Rs4,954 and Rs4,800 respectively. Read more

Rohit Ferro Tech announces temporary suspension of work at Odisha factory; Stock slips ~5%

Published on: 1:05 pm

Rohit Ferro Tech Ltd has informed that the Factory of the Company situated at Jajpur, Odisha, is under temporary suspension of work.
As per the regulatory filing, the reason of temporary suspension of work is due to power cut by electricity supplying Company i.e., TP Northern Odisha Distribution Limited due to non-payment of outstanding dues.
The impact:
There is temporary reduction in output of finished goods which will not continue for long. Due to loss of daily production, there is negative impact of financial performance of the Company which is already under huge loss, said company. Read More

Fitch assigns SAEL's proposed notes first-time 'BB(EXP)' rating with stable Outlook

Published on: 1:04 pm

Fitch Ratings has assigned SAEL RG1's proposed US-dollar senior secured notes due 2029 an expected rating of 'BB(EXP)'. The Outlook is Stable. SAEL RG1 is a restricted group of solar and biomass projects owned by India-based SAEL Limited.
The final rating is contingent upon the proposed reorganization of the group and the receipt of final bond documents conforming to information already received. Read more

AU Small Finance Bank logs 46% yoy growth in deposits for Q4FY22; stock surges ~1.5%

Published on: 12:59 pm

AU Small Finance Bank Limited has informed investors of its performance for the quarter and fiscal year ended March 31, 2022.
The company has reported total deposits of Rs52,825 crore for Q4FY22 as against Rs35,979 crore for Q4FY21, registering a growth of 46% yoy and 19% QoQ. Its CASA ratio stood at 37% for Q4FY22.
AU SFB has reported gross advances of Rs46,801 crore as against Rs35,356 crore for Q4FY21, registering a growth of 32% yoy, and 15% QoQ. Bank Loan AUM stood at Rs47,843 crore for the current quarter as compared to Rs37,712 crore for the previous corresponding quarter, up by 27% yoy. Read more

PIX Transmission stock hits 5% upper circuit on commission of Centralized Logistic Hub in Nagpur

Published on: 12:56 pm

Pix Transmission Ltd has informed that company's Centralized Logistic Hub, located at Khasra no. 13, 14 and 15/3, Village Sangam, Tehsil Hingna, District Nagpur, Maharashtra, is now fully operational.
"This facility will allow us better visibility in terms of the movement of our finished goods inventory; thereby further streamlining our dispatch process for added efficiency", said company in a regulatory filing on Monday. Read more

CARE revises credit ratings assigned to Talbros’ bank facilities; stock adds ~1%

Published on: 12:35 pm

Talbros Automotive Components Limited informed that Care Ratings has revised the credit rating on the bank facilities and fixed deposits of the company.
Care Ratings has revised the ratings assigned to the company’s long-term bank facilities worth Rs124.74 crore from existing ‘CARE A/Stable’ to ‘CARE A-/Stable’.
Talbros’ short-term bank facilities worth Rs45 crore have been assigned a ‘CARE A2+’ rating from the existing ‘CARE A1’. Read More

Market pulse at 12:30 PM today

Published on: 12:30 pm

Benchmark market indices remain bearish despite a surge in FMCG and auto stocks.
BSE Sensex is 660,354.98 down 256.76 points or 0.42%.
Nifty50 is currently 18,003.90 down 49.50 points or 0.27%. Nifty Bank is at 38,319.35 down 0.82%. Mid-cap Index is up 0.94%.
Eicher Motors, Adani Ports, Tata Motors, ONGC, and Titan are the top gainers. HDFC Bank, HDFC, Bajaj Finserv, Reliance and Bajaj Finance are the top losers.
Nifty Consumer Durables, FMCG, Auto, and PSU Bank stocks are bullish while Nifty Banking & Financial Services stocks continue to drag.
Out of 50 stocks traded on the NSE, 34 advanced, and 16 declined. Read more

Century Plyboards incorporates wholly owned subsidiary Century Ports

Published on: 12:16 pm

The Board of Directors of Century Plyboards (India) Limited, by a resolution passed by circulation on April 3, 2022, has considered and approved, subject to necessary statutory and regulatory approvals, as may be required, incorporation of a Wholly owned Subsidiary Company in the name of “Century Ports Limited” or such other name as may be available from the Ministry of Corporate Affairs.
The proposed wholly-owned subsidiary company shall be carrying out the project for rejuvenation of Khidderpore Docks (KPD-I West) through PPP mode on Design, Build, Finance, Operate and Transfer (DBFOT) basis at Syama Prasad Mookerjee Port, Kolkata. Read more

Century Plyboards incorporates wholly owned subsidiary Century Ports

Published on: 12:16 pm

The Board of Directors of Century Plyboards (India) Limited, by a resolution passed by circulation on April 3, 2022, has considered and approved, subject to necessary statutory and regulatory approvals, as may be required, incorporation of a Wholly owned Subsidiary Company in the name of “Century Ports Limited” or such other name as may be available from the Ministry of Corporate Affairs.
The proposed wholly-owned subsidiary company shall be carrying out the project for rejuvenation of Khidderpore Docks (KPD-I West) through PPP mode on Design, Build, Finance, Operate and Transfer (DBFOT) basis at Syama Prasad Mookerjee Port, Kolkata. Read More

Tata Power Solar commissions 160 MW AC Solar project in Rajasthan; stock climbs 1.5%

Published on: 11:59 am

Tata Power Solar Systems Limited, a wholly-owned subsidiary of Tata Power Company, commissions a 160MW AC solar project at Jetstar, Rajasthan. The company has used 6,75,000 numbers of monocrystalline PV modules in this installation. The company estimates production of 387MUs of energy per year through this project.
The Jetstar project was completed within a period of 15 months and vouched for Tata Power Solar's exceptional project execution capabilities.
The project engineers worked under tough climatic conditions including the movement of men and machinery to the project site. Read more

Flipkart Group launches 'Flipkart Foundation' to support development in socio-economic areas in Indi

Published on: 11:32 am

The Flipkart Group, India’s homegrown internet ecosystem, has announced that it has constituted and has launched the Flipkart Foundation with a vision to facilitate an inclusive, equitable, empowered and sustainable society in India.
The Foundation will carry forward Flipkart Group’s efforts towards bringing opportunities for ecosystem partners and convenience to stakeholders through a technology-led digital commerce model. This will enable it to drive inclusive growth with a mission to drive grass-root level, at-scale and institutionalised impact for sustainable livelihoods and growth opportunities in India for the underprivileged. Read more

Market pulse at 11:30 AM today

Published on: 11:30 am

Indices remain lower as banking and financial services stocks are under pressure.
BSE Sensex is 60,400.54 down 211.2 points or 0.35%.
Nifty50 is currently 18,014.10 down 39.30 points or 0.22%. Nifty Bank is at 38,362.65 down 0.71%. Midcap Index is up 0.79%.
Adani Ports, Eicher Motors, Tata Motors, Titan, and Hero MotoCorp and are the top gainers. HDFC Bank, HDFC, Bajaj Finserv, SBI Life and Reliance are the top losers.
Nifty Consumer Durables, Auto and PSU Bank stocks are bullish while Nifty Banking & Financial Services stocks drag.
Out of 50 stocks traded on the NSE, 32 advanced, and 18 declined. Read More

Vedanta Q4 business update: records increase in production of aluminium, zinc and iron ore

Published on: 11:17 am

Vedanta Limited on Monday reported a rise of 8% in its production of aluminium and zinc and that of iron ore by 18% during the fourth quarter ended March 31, 2022 as compared to its output during the same quarter a year ago.
The company stock was trading mostly flat at Rs421.55 up by Rs0.05 or 0.01% from its previous closing of Rs421.50 on the BSE, at around 11.20 am.
Alumina production at Lanjigarh refinery increased by 7% qoq and 1% yoy to 503,000 tonnes in Q4FY22. Read more

Variman Global Enterprises bags purchase order worth Rs88.14 lakh

Published on: 11:05 am

Variman Global Enterprises Ltd has informed to the exchange that the Company has received Purchase Orders of Rs88.14 lakh.
As per regulatory filing, the order has been received from Centre for Development of Advanced Computing, Hyderabad for supply of DELL Servers etc.
At around 11:08 AM, Variman Global was trading at Rs192 per share lower by 2.51% on Sensex. Read more

L&T Construction procures significant contracts for its transportation business

Published on: 10:50 am

The Transportation Infrastructure Business of Larsen & Toubro has secured various orders from prestigious clients.
The Business has secured an order from the Tamil Nadu Road Infrastructure Development Corporation to construct the Chennai Peripheral Ring Road EPC-02 Package of Section-11 in the Engineering, Procurement, and Construction (EPC) mode.
The scope of work broadly includes constructing a six-lane greenfield highway of 12.80 km with flexible pavement, two-lane service roads and paved shoulders on both sides of the carriageway, at-grade Intersections, major/minor bridges, vehicular/light vehicular/ small vehicular underpasses, and culverts followed by maintenance for 7 years. Read More

Som Distilleries & Breweries to benefit from MP govt's excise policy; Stock soars 5%

Published on: 10:41 am

Som Distilleries & Breweries Ltd has informed to the stock exchanges that as per the revised Madhya Pradesh Government Excise Policy effective from April 01, 2022, the Country Liquor shops in the State shall also be allowed to sell Beer.
This will lead to an exponential increase in the point of sale for our products, said company in a regulatory filing. Read more

Hindustan Zinc achieves best-ever mined production of 10,17,000 tonnes in FY22; logs 5% yoy growth

Published on: 10:41 am

Hindustan Zinc Limited has achieved multiple milestones in the current financial year. It has recorded the best-ever mined metal production crossing the 1 million mark to reach 10,17,000 tonnes in FY22, recording a growth of 5% yoy, on the back of higher ore production across the mines.
The company has also logged the ever-highest refined metal production at 967,000 tonnes in FY22; reflecting a growth of 4% yoy, driven by better plant & concrete availability. Read more

Market pulse at 10:30 AM today

Published on: 10:30 am

Equity market indices are bearish amid mixed global cues.
BSE Sensex is 60,409.81 down 201.93 points or 0.33%.
Nifty50 is currently 18,008.10 down 45.30 points or 0.25%. Nifty Bank is at 38,285.15 down 0.91%. Mid-cap Index is up 0.78%.
Adani Ports, Eicher Motors, Tata Motors, UPL, and ONGC are the top gainers. HDFC Bank, HDFC, Bajaj Finance, Bajaj Finserv and Divis Lab are the top losers.
Nifty Auto and Consumer Durables stocks are over 1.25% higher to emerge top gainers. Nifty Banking & Financial Services stocks drag after highs of Monday.
Out of 50 stocks traded on the NSE, 33 advanced, and 17 declined. Read More

CRISIL upgrades credit ratings of Go Fashion India's bank facilities; Stock rises

Published on: 10:26 am

Go Fashion (India) Ltd has informed that CRISIL Ratings has upgraded the credit ratings for the Company.
Long Term Rating has been upgraded from ‘CRISIL BBB+ / Stable' to ‘CRISIL A-/Stable while Short Term Rating upgraded from 'CRISIL A2 ' to CRISIL A2+.
As per rating rationale, the rating outstanding on the above bank facilities during April 01, 2022, to April 03, 2022, was CRISIL A-/Stable/CRISIL A2+. Read more

Ice Make Refrigeration obtains Solar Cold Room order; stock jumps ~1%

Published on: 10:07 am

Ice Make Refrigeration Limited informed that it has expanded its customer base by obtaining an export order of Solar Cold Room – 5MT capacity from Congo.
It offers a complete range of equipment for ice cream mix preparation for small and medium scale specially designed mix plant units. It is engaged in the manufacturing and supply of Chillers. Its range includes Air Cooled Chiller, Water Cooled Chiller, liquid Chiller, Brine Chiller, and Screw Chiller. Read more

Payments Canada partners with TCS to evolve payments with RTR; Stock climbs 1%

Published on: 10:03 am

Tata Consultancy Services has entered into a strategic partnership with Payments Canada, the country’s largest payment organization, to transform its payment system operations and help implement the Real-Time Rail (RTR), the new real-time payments system that will allow Canadians to initiate payments and receive irrevocable funds in seconds, 24/7/365.
TCS will leverage its deep knowledge of the Canadian payments industry and extensive experience in designing and implementing large payment systems for its Canadian financial services clients to help Payments Canada create and execute an integration roadmap for the RTR. Additionally, TCS will use its solutions around quality engineering and participant engagement to effectively help plan and orchestrate a comprehensive end-to-end industry assurance program that will holistically validate the solution for the RTR deployment. Read more

3i Infotech opens at 5% upper circuit after securing Cloud transformation deal for its NuRe platform

Published on: 9:48 am

3i Infotech Limited updated the exchanges Monday that the company has secured a Cloud transformation deal for its NuRe platform, from one of the large commercial banks in the Asia-Pacific region. Deal size is approximately Rupees 6.04 crore.
At around 9.52 am, 3i Infotech Ltd was trading at Rs59.35 per share up by Rs2.8 or 4.95% from its previous closing of Rs56.55 per share on the BSE. The stock opened at 5% upper circuit of Rs56.55 per share. Read more

Markets trade lower; Sensex slips 200 pts, Nifty 50 around 18k; Banking and financials worst hit

Published on: 9:41 am

Indian markets extended losses after opened on a flat note amid high volatility during opening bells on Tuesday led by mixed sentiments on a broader-based level across global indices. At the domestic front, except bank, all other sectoral indices are trading in the green with auto index up 1.5%. Banking stocks were the worst hit led by HDFC twins down day after merger announcement.
At around 09:45 AM, Sensex was trading at 60,381.88 down by 229.86 points or 0.38%. Meanwhile, Nifty 50 was performing at 18,000.75 down by 52.65 points or 0.29%.
On NSE, banking and financial stocks were in a nosedive. Bajaj Finance took the top spot on the underperformers list on Nifty slipping by 2% followed by Bajaj Finserv, HDFC, HDFC Bank and Kotak Bank tumbling over 2% each. Read more

Allied Digital CMD - Nitin Shah recognized as one of ‘The Most Promising Business Leaders of Asia 20

Published on: 9:34 am

Allied Digital Services Limited CMD - Nitin Shah has been recognized as one of “The Most Promising Business Leaders of Asia 2021-22” by Economic Times.
The Economic Times has acknowledged business leaders of Asia, who are going to play an important part in shaping the business demographics of not just Asia, but also the world in the near future.
The company said in a filing on Monday, The Economic Times Most Promising Business Leaders of Asia aims to have these trailblazers from countries like India, Malaysia, Singapore, China, Thailand, Vietnam, Japan, South Korea, Sri Bangladesh, UAE, Saudi Arabia and other countries who have stood out during normal times and have expanded their business empire, can collectively with their superior intellect and economic prudence steer the continent away from economic depression. Read more

GRP Limited appoints Virendra Rathod as President – Marketing & Business Development; stock zoom

Published on: 9:34 am

GRP Limited, a sustainable material manufacturer of reclaimed rubber, compounded polyamide from nylon waste, and composite products based on end-of-life waste, announced that the company has appointed Mr. Virendra Rathod as its new President of Marketing & Business Development effective from April 2, 2022.
Virendra has a vast experience of over 34 years and has acted as the Board Member, Sector Head for Elastomers Business, Marketing Manager in leading organizations in the tire and petrochemicals industry.
Mr. Rathod will be responsible for developing the Reclaimed Rubber business through strategic partnerships, application development, and new technology development. In addition, Mr. Rathod will be responsible for growing the plastics business of GRP. His expertise, industry knowledge how and vision will further strengthen GRP Limited's vision to be a circular-solutions-focused company. Read more