IndiaInfoline » News » Live News

Latest News and Updates

13th Apr, 2022

A⁺ A^-

LIC board likely to file revise IPO papers next week: Reports

Published on: 4:14 pm

According to the media reports, the Life Insurance Corporation (LIC) of India's board will likely meet over the weekend to finalise its results for FY22. The company will file a revised public offer document by mid-next week.
Roadshows for the initial public offer (IPO) would start soon after and the issue is expected to open by the end of the month, the media reports added.
LIC IPO was initially set to launch in late March 2022, prior to the financial year 2021-2022 ending, however, it had to be deferred to FY23 due to high volatility in markets led by the aggravating Russia-Ukraine crisis. Read more

ICRA: Improvement in industry sentiment as demand rebounds; expected to reach pre-Covid levels by FY

Published on: 4:07 pm

ICRA estimates pan-India premium hotel occupancy to be ~40-42% in FY2022, up from ~26-28% in FY2021. While demand was impacted in Jan-22 and for the first two weeks of Feb-22 because of the Omicron wave, the industry has witnessed healthy recovery post that aided by leisure, transient demand, MICE/weddings and gradual pick-up in business travel. The recovery has been sharper than that witnessed post Covid 2.0. Pan-India premium hotel ARRs stood at ~Rs4,200 – 4,400 in FY2022 and were at a 25-30% discount to pre-Covid levels. However, for some high-end hotels and leisure destinations, ARRs have been higher than pre-Covid levels in the last few months.
With significant improvement in demand, RevPARs are expected to improve to pre-Covid levels in FY2023, as against the earlier expectation of pre-Covid levels only by FY2024. While the possibility of a fourth Covid wave cannot be ruled out, the increasing vaccination coverage and reducing disruption with each Covid-19 wave provide comfort. ICRA expects that a month of complete lockdown could impact FY2023 pan-India occupancy by ~5 percentage points, ICRA report added. Read more

Get Access to Stock Reports+ And Customised Investment Ideas

Mobile No:

Email:

LTI expands its presence in the USA with a New Engagement Center in Hartford, CT

Published on: 4:00 pm

Larsen & Toubro Infotech has expanded its presence in the USA with a new engagement center in Hartford, CT. The engagement center will enable workforce transformation and localization for LTI in the Americas.
Larsen & Toubro Infotech ended at Rs6,026.85 apiece up by Rs113.5 or 1.92% on the BSE.
The new center was inaugurated by Luke Bronin, Mayor of Hartford, Richard Blumenthal, U.S. Senator for Connecticut, David Lehman, Commissioner of the Connecticut Department of Economic and Community Development & Governor’s Senior Economic Advisor, Sanjay Jalona, CEO & Managing Director, LTI and Jacqueline Bamman, Chief People Officer, Nassau Financial Group. Located in the historic “boat building” in the heart of downtown Hartford, the center is equipped with advanced technology infrastructure and an evolved organizational approach leveraging cloud-based collaboration tools. Read more

Hariom Pipe make stellar debut; stocks list at 44% premium

Published on: 3:19 pm

Shares of Hariom Pipe Industries made a strong debut on Wednesday. The shares opened with a premium of nearly 44 per cent against the issue price of Rs153.
The stock made its debut at Rs214, with a jump of 39.86 per cent against the issue price on the BSE. On the NSE, it opened at Rs220, a gain of 43.79 per cent from the issue price.
The stock is currently trading at Rs224.70 up by Rs71.7 or 46.86% from its previous closing of Rs153 on the BSE. Read more

Zydus Lifesciences to supply Sagent’s Caffeine Citrate Oral Solution from Jarod, post USFDA’s PAS no

Published on: 3:08 pm

Zydus Lifesciences’s (Formerly known as Cadila Healthcare Ltd.), an innovation-led global lifesciences company has announced that it will be manufacturing and supplying Sagent’s Caffeine Citrate Oral Solution in the strength of 60 mg per 3 mL (20 mg per mL) Single-dose Vial (US RLD: CAFCIT) from its injectables facility at Jarod, Gujarat, India.
The company announced that it received the Prior Approval Supplement (PAS) Approval from the US Food and Drug Administration (USFDA), which allows for a site transfer and manufacturing of the drug at Jarod.
This product is indicated for the short-term treatment of a breathing problem (Apnea) in premature infants. Caffeine blocks certain proteins (adenosine receptors) which leads to improved breathing in these infants. Read more

Simplex Infra sets new all-time high as board nods fund raise plan worth Rs421.81Cr

Published on: 3:02 pm

Simplex Infrastructure Limited has informed that the company’s Board of Directors has considered and approved the raising of funds up to Rs421.81 crore by issuing and allotting equity shares and warrants as decided by the company.
The company will issue 5,75,11,000 equity shares of Rs2 each at a price of Rs56.61 per share for a cumulative amount of Rs325,56,97,710 (Rs325.57 crore). For the rest of the consideration, the company has approved the issuance of 1,70,00,000 warrants each carrying a right to subscribe 1 equity share at a price of Rs56.61, aggregating to Rs96,23,70,000 (Rs96.24 crore). Read more

Jindal Stainless logs 23% yoy growth in sales volume for FY22

Published on: 2:38 pm

Jindal Stainless Limited’s total sales volume for FY22 stood at 1,011,292 MT, up by 23% yoy. During Q4FY22, Company’s sales volume was reported at 269,168 metric tonnes (MT), registering an uptick of 9% on QoQ and 6% on yoy basis.
The sales volume was on the back of JSL’s agile supply chain and a flexible product mix with a focus on value-added product segments. Despite volatility and global disruptions in raw material supply and logistics, JSL effectively managed to accelerate its exports. Company's export sales proportion doubled to 32% of sales volumes in Q4FY22 as compared to 16% Q4FY21. Read more

Market pulse at 2:30 PM today

Published on: 2:30 pm

Equity benchmark indices trade in the red amid volatility.
BSE Sensex is 58,424.11, down 152.26 points or 0.26%.
Nifty50 is currently 17,497.65, down 32.65 points whereas Nifty Bank is trading at 37,586.65, down by 0.43%. Read more

Heidelberg Cement commissions 5.5 MW Solar Power Plant in Damoh; stock surges ~1%

Published on: 2:00 pm

Heidelberg Cement Limited informed that it has commissioned a 5.5 Mega Watt (MW) Solar Power Plant in its mining area located in Damoh, Madhya Pradesh. The aforesaid initiative will not only generate electricity but also reduce the CO2 footprint.
The solar plant is estimated to generate c. 10 Gigawatt hours per annum of solar energy which will replace electricity purchased under short-term open access and from the grid.
The company expects ~225,000 tonnes of CO2 savings by generating solar energy over the standard life of the plant. The commissioning of the Solar Plant is yet another milestone achieved in reducing the CO2 footprint. Read more

RITES inks pact with Tata Steel to jointly explore integrated infra services; stock marginally highe

Published on: 1:45 pm

RITES Limited, a leading transport and infrastructure consultancy and engineering company entered into a memorandum of understanding (MoU) with Tata Steel Limited to synergize their expertise.
RITES and Tata Steel will combinedly offer services in the areas of railway rolling stock exports and enhance infrastructural capabilities for buildings, urban engineering, airports, and information technology. The two companies will also explore capacity enhancement for urban mass rapid transport, including metro railway systems, for both domestic and international markets. Read more

Market pulse at 1:30 PM today

Published on: 1:30 pm

Equity benchmark indices continue to trade in the red ahead of Infosys Q4 results which will be announced later today.
BSE Sensex is 58,440.41, down 136 points or 0.23%.
Nifty50 is currently 17,487.20, down 43 points whereas Nifty Bank is trading at 37,596.70. Read more

Man Infra bags order from Bharat Mumbai Container worth Rs937.89 crore; stock marginally up

Published on: 1:25 pm

Man Infraconstruction Limited informed investors that the company has received a Letter of Acceptance (LoA) from Bharat Mumbai Container Terminal Private Limited (BMCTPL) for the execution of Phase II works at JNPT, Navi Mumbai, Maharashtra being "Reclamation works- Material Supply" for Rs937.89 crore.
Bharat Mumbai Container Terminals Private Limited is a subsidiary of PSA International which is a leading global port player headquartered in Singapore. PSA is working with JNPT to develop this Fourth Container Terminal to cater to the increasing demands for container handling capacity and facilitate maritime trade in the Country. Read More

JASH Engineering hits new 52-week high as US subsidiary wins order worth $4.9 million

Published on: 1:20 pm

JASH Engineering has informed to the exchanges that its US subsidiary Rodney Hunt Inc, USA has received an order worth USD 4.9 million.
As per regulatory filing, the subsidiary received order from Lane Construction for Kansas city flood risk management project.
Further, "This is the first part of the order and we are quite hopeful to get the second part also which is also quite large", said company on Wednesday. Read more

Capital Trust reports highest quarterly disbursements post Covid; stock slips 2%

Published on: 1:13 pm

Capital Trust Limited (Capital Trust), a digitally enabled non-banking finance company (NBFC) having specialization in providing income-generating micro business loans in tier 3-5 regions, has informed investors of its business update for the fourth quarter of FY22 and the full FY22.
Disbursements for Q4FY22 were reported at Rs58 crore and for FY22 stood at Rs170 crore, higher by 115% and 32% yoy, respectively. This was the company’s highest quarterly disbursements post COVID-19. This was mainly due to the company's continuous focus on the rural doorstep fintech model, the strong customer connections, increased touchpoints via expansion in the branch network, which helped in catering to new customers and geographies, and improved traction from existing customers on the back of improved business sentiments and cash flows of customers. Read More

ICRA: Steel demand poised to grow at 7-8% in FY23; industry outlook maintained at Positive

Published on: 12:58 pm

Domestic steel industry earnings over the next 12 months, year ended FY2023, are expected to remain healthy, despite input cost pressures leading to some moderation in earnings over the high watermark of FY2022. With rising steel prices partly absorbing the increase in coal and energy costs, ratings agency, ICRA has maintained the steel industry’s outlook to be Positive.
Industry capacity utilization levels will be around 80% in FY2023, after a gap of eight years, and buoyed by the prospects of large infrastructure spending plans, domestic steelmakers have announced sizeable capacity expansions accumulating to ~34 million tonne per annum (mtpa) to be commissioned by FY2026, ICRA said in the report. Read more

Acuite assigns 'Provisional BBB-/Stable' rating to TARC's Rs1400 crore NCDs

Published on: 12:54 pm

Acuite has assigned the long term rating of 'Provisional ACUITE BBB-' on the Rs1400 crore Proposed NCD of TARC Limited (TARC). The outlook is 'Stable'.
As per rating rationale report, the rating on the proposed Rs1400 crore NCDs is provisional and the final rating is subject to the following documentation requirements: Read more

Eighty Jewellers becomes 370th Company to get listed on BSE SME Platform

Published on: 12:44 pm

Eighty Jewellers Limited became the 370th company to get listed on the BSE SME Platform on April 13, 2022. Eighty Jewellers Limited came out with an initial public offering of 27,00,000 Equity Shares of Rs.10 Each (“Equity Shares”) For Cash at a Price of Rs41 Per Equity Share (The “Offer Price”), Aggregating to Rs11.07 crore.
The company has successfully completed its public issue on April 05, 2022. Read More

ICICI Bank signs MoU with GIFT SEZ

Published on: 12:37 pm

ICICI Bank and GIFT SEZ have signed a Memorandum of Understanding (MoU) to promote GIFT SEZ to Indian as well as global businesses including IT / ITeS and financial services. GIFT SEZ is the country’s first International Financial Services Centre (IFSC) which is being developed as a global financial services hub. ICICI Bank has been a prominent player in GIFT SEZ with its banking business since 2016.
Ms. Vishakha Mulye, Executive Director, ICICI Bank and Mr. Tapan Ray, MD & Group CEO, GIFT City, signed the MoU at a virtual event today. GIFT City, promoter of GIFT SEZ, provides a planned business district that offers an ecosystem to financial and technology service providers with walk-to-work concept, state-of-the-art infrastructure, tax benefits, various incentives, unified regulator and competitive regulatory regime. Read More

Market pulse at 12:30 PM today

Published on: 12:30 pm

Equity benchmark indices erased morning gains to trade lower.
BSE Sensex is 58,352.88, down 223 points or 0.38%.
Nifty50 is currently 17,475.05, down 55 points whereas Nifty Bank is trading at 37,746.85.
India VIX is up 0.95% at 18.33 levels.
ONGC, Apollo Hospital, UPL and JSW Steel are the top gainers. Power Grid, HDFC, Titan and Tata Motors are the top losers.
Metal, PSU Bank, IT and healthcare were up in the noon trade, however, selling was seen in financial, private banks, realty and media stocks.
Out of 50 stocks traded on the NSE, 21 advanced, and 29 declined. Read More

Thomas Cook India launches "India ka Forex Specialist" Campaign; Stock soars over 5%

Published on: 12:24 pm

Thomas Cook India’s continued focus on the Foreign Exchange segment has ensured sustained leadership in the Forex services space. The strategic intent of specialisation has been driven along 4 key axes of scale, speed, skill and service - making it the largest non-bank Foreign Exchange services provider in India.
At around 12:28 PM, Thomas Cook (India) was trading at Rs89.15 apiece up by Rs4.6 or 5.44% on the BSE. Read More

Fino Payments Bank to acquire 12.19% stake in New Delhi based fintech 'Paysprint'; stock climbs ~3%

Published on: 12:13 pm

Fino Payments Bank Limited informed that its board has approved the acquisition of a minority, strategic stake in New Delhi based Paysprint Private Limited (Paysprint). The bank will be investing upto 12.19% in the Paysprint through a share subscription.
The is the first strategic investment by Fino Payments Bank after its public listing. The company also informed that this is an addendum to several in-house initiatives by the Bank which are already underway towards building a digital ecosystem for its customers as part of its Fino 2.0 journey. Read more

CRISIL revises A/Stable rating on PPAP Automotives long-term credit facilities

Published on: 12:04 pm

CRISIL Ratings has revised its rating on the long-term bank facilities of PPAP Automotive Ltd to 'CRISIL A/Stable’ from 'CRISIL A+/Stable, while reaffirming its ‘CRISIL A1’ rating on the short-term bank facilities of the entity.
According to the rationale report, the revision reflects a belief that the business risk profile of the PPAP group may continue to weaken. Read more

Entertainment Network (India) subsidiary enters into arrangement with FA Radio; Stock zooms 6.5%

Published on: 11:54 am

Entertainment Network (India) Ltd has informed that it's subsidiary – Entertainment Network LLC has entered into a Brand and Content Licensing arrangement with Dallas – US based radio broadcaster – FA Radio International LLC (‘FA Radio’) to use the Company’s trademarks and content.
FA Radio operates Hindi/ Urdu language radio station currently branded as ‘Azad FM’. It will now be rebranded as ‘Mirchi’ on mutually agreeable terms and conditions, said company. Read More

TVS Motors acquires 100% stake in Passion Vélo; stock marginally up

Published on: 11:54 am

TVS Motor Company Limited announced that its Swiss E-Mobility Group of AG (SEMG), which is a subsidiary of the company, has acquired a 100% stake in Alexand’Ro Edouard’O Passion Vélo Sàrl (Passion Vélo). The company is primarily engaged in the sale of e-bikes as well as e-bike accessories across a range of premium e-bike brands such as TREK, Riese & Muller, Cannondale, Moustache, and others.
PV is the owner and manager of a large e-bike store spread over an area of 800 sqm in the canton of Neuchatel, Switzerland. Read more

Lloyd ropes in Sourav Ganguly as Brand Ambassador for Eastern Market; stock adds ~1%

Published on: 11:37 am

Lloyd, one of India’s leading consumers durable brands of Havells India, today, has announced its association with former Indian cricket captain Sourav Ganguly as the Brand Ambassador for markets in the eastern part of India. As a part of the association, Sourav will endorse Lloyd's range of consumer durables, through promotion, advertising, and marketing.
Commenting on this announcement, Mr. Anil Rai Gupta, Chairman & Managing Director, Havells India Limited said, “Lloyd believes in providing its customers with the best products with its focus on innovations, superior technology, and after-sales customer support.” Read More

Choice International bags order worth Rs107 crore from GOI; stock zooms 1.5%

Published on: 11:24 am

Choice International Limited informed that its wholly-owned subsidiary Choice Consultancy Services Private Limited, a diversified conglomerate has won contracts amounting to approx. Rs107 crore from the Public Sector Undertaking of the Government of India to provide support for various rural water supply schemes under the Indian government’s Jal Jeevan Mission.
The company has received these contracts for the state of Maharashtra and West Bengal for the services of preparing detailed project reports and project management services. Read More

The Tinplate Co.'s PAT jumped 259% yoy for FY22; stock skids 1%

Published on: 11:08 am

Tinplate Company of India has reported a total income of Rs1,226.88 crore during the Q4FY22 as against Rs754.98 crore in Q4FY21, up by 49.26% yoy. Its total income for FY22 was reported at Rs4,249.51 crore as compared to Rs2,281.36 crore in FY21, registering a growth of 86% yoy.
The company’s PAT jumped 103% yoy at Rs114.42 crore for Q4FY22, as compared to Rs56.16 crore in Q4FY21. Its PAT during the current financial year logged growth of 259.56% yoy at Rs352.91 crore as compared to Rs98.15 crore for FY21. Read More

ISP Chile inspects Alkem Lab's manufacturing facility at Baddi, India; Stock under pressure

Published on: 10:54 am

Alkem Pharmaceuticals Ltd has informed to the exchanges regarding ISP Chile Inspection at Alkem's manufacturing facility located at Baddi, India.
As per regulatory filing, the pharma major informed that ISP Chile had conducted a GMP inspection at the Company's manufacturing facility located at Baddi, India from April 6-12, 2022. Read more

Indsil Hydro Power and Manganese' profitability to get impacted by additional electricity duty; Stoc

Published on: 10:33 am

Indsil Hydro Power & Manganese Ltd has informed that the Government of Andhra Pradesh has levied an additional electricity duty of 94 paise per kwhr with immediate effect.
As per regulatory filing, this will impact the profitability of the Company's Vizianagaram smelter, said company on Tuesday.
On Wednesday at around 10:36 AM, Indsil Hydro Power & Manganese was trading at Rs98.05 apiece up by Rs0.65 or 0.67% from its previous closing of Rs97.40 apiece on the BSE. Read more

Market pulse at 10:30 AM today

Published on: 10:30 am

Equity benchmark indices bounced back on Wednesday after two days of decline amid largely positive Asian markets and supported by buying in index heavyweights Reliance Industries and Infosys.
BSE Sensex is 58,817.91, up 241 points or 0.41%.
Nifty50 is currently 17,536.60, up 6 points whereas Nifty Bank is trading at 37,746.85.
India VIX is down 3.26% at 17.57 levels.
ONGC, UPL, Apollo Hospital and JSW Steel are the top gainers. Asian Paints, Dr Reddy’s and Titan are the top losers.
Out of 50 stocks traded on the NSE, 29 advanced, and 21 declined. Read More

Anand Rathi Wealth logs 239% yoy growth in PAT at Rs35 crore for Q4FY22; stock hits the roof

Published on: 10:22 am

Anand Rathi Wealth’s counter bounced to a new 52-week high of Rs721.35 per share in Wednesday morning trade, after the wealth manager posted its results for the Q4FY22 and FY22 with double-digit growth numbers. However, as of now half of early morning gains have been erased, and stock is currently selling at Rs687.80 on NSE.
Anand Rathi’s results cheered the investors as the company reported a two-fold jump in its PAT at Rs35 crore in Q4FY22 as compared to Rs10 crore in Q4FY21, up by 239% yoy. PAT for the FY22 reported at Rs127 crore as against Rs45 crore in FY21, registering a growth of 184% yoy. Read more

Sat Industries invested Rs1.65 crore in 18 start-ups during last quarter; Stock gains ~6%

Published on: 10:14 am

Sat Industries Ltd, one of the leading corporate angel investors in India and it has invested in multiple sectors across the start-up ecosystem.
18 early-stage start-ups across sectors such as FMCG, technology, finance etc. have raised a funding of Rs1.65 crore from Sat Industries.
During the quarter, Sat has invested an average cheque size of Rs11 lakh each in Raskik (FMCG), Healthy Barks (FMCG), BotSync (Robotics), Ethereal Machine (Tech), Broomees (Consumer), Castler (Fintech), Wizzy (Tech), CarterX (Logitech), Pension Box (Fintech), Red Basil (Food tech), PinBox (Fintech), Devnagri (Tech), Prescinto (Tech), Celsius (Cold chain Logitech), Pick My Work (HR-Tech), Fleek (Tech), and Flickstree (Consumer) Read more

Axis Bank allots over 2.88 lakh equity shares under ESOP Scheme

Published on: 10:03 am

Axis Bank Ltd has informed that the Bank has allotted 2,88,183 equity shares of Rs. 2/- each of the Bank on April 12, 2022, pursuant to exercise of stock options under its ESOP Scheme.
The paid up share capital of the Bank will accordingly increase Rs. 613,96,99,902/- (306,98,49,951 equity shares of Rs. 2/- each) to Rs. 614,02,76,268/- (307,01,38,134 equity shares of Rs. 2/- each), said the bank in a regulatory filing. Read more

Thermax bags order worth Rs522 crore for a refinery and petrochemical complex; stock climbs ~2%

Published on: 9:51 am

Thermax has concluded an order of Rs522 crore for utility boilers and associated systems for a grass root refinery and petrochemical complex in Rajasthan, India.
The order is received for two units of 260 TPH high-pressure utility boilers along with allied auxiliaries to be designed and manufactured by Thermax Babcock & Wilcox Energy Solutions (TBWES), a wholly-owned subsidiary of Thermax. This package will be a part of the customer’s Captive Power Plant (CPP) and will facilitate their steam and power requirements. Read more

Markets trade higher; Sensex jumps 350 pts, Nifty 50 over 17,600; ONGC, JSW Steel top gainers; Infos

Published on: 9:36 am

Indian markets opened on a positive note on Wednesday and made a notable recovery from previous bearish session. However, the ongoing sea-saw battle of brent crude oil prices are affecting investors globally where the prolonged crises between Russia and Ukraine have left markets on a global level in a frantic state.
At home, markets made massive gains due to positive cues with all sectoral indices trading in the green. Also, the performance comes as investors' sentiments shifts to quaterly earnings for financial year 2022.
Further, Country's retail inflation jumps to 17-month high of 6.95% in March due to rising food and oil prices, acording to government released data on Tuesday. Read more

Sheetal Cool Products to set up 10 parlours at Ahmedabad Municipal Corporation Gardens; Stock soars

Published on: 9:17 am

Sheetal Cool Products Ltd has informed to the exchnages regarding seting up 10 Ahmedabad Municipal Corporation Garden Parlours.
As per regulatory filing, the company is going to establish 10 Parlours at different gardens in the prime location of Ahmedabad Municipal Corporation (AMC). Read more

Brightcom join hands with Intent IQ to enhance growth; stock zooms ~3%

Published on: 9:16 am

Brightcom Group Limited informed the investors and exchanges through its filing that the company is partnering with Intent IQ, the next-generation identity resolution leader, to enhance its bidding capability in RTB and programmatic advertising environments.
Their service is powered by Intent IQ's patented Identity Device Graph that can process over 20 billion events every 24 hours, over 11 billion email open/login events each month, and holds 80+ different attributes inside. Read more

Indiabulls Real Estate board allots over 8.55 crore equity shares under QIP; Stock gains 1.5%

Published on: 9:16 am

The Fund Raising Committee of the Board of Directors of Indiabulls Real Estate Limited at its meeting held on April 12, 2022 has approved the closure of Qualified institutions placement on April 12, 2022 pursuant to the receipt of application forms and the funds in the escrow account from the eligible qualified institutional buyers in accordance with the terms of the Issue.
The committee determined and approved the allocation of 8,55,59,435 Equity Shares at an Issue price of Rs101.10 per Equity Share (including a premium of Rs99.10 per Equity Share), which is at a discount of Rs5.28 per Equity Share i.e. 4.96% to the floor price of Rs106.38 per Equity Share, for the Equity Shares to be allotted to the eligible qualified institutional buyers in the Issue. Read more

Tata Steel completes acquisition of 90% stake in Rohit Ferro-Tech; infuses Rs617.12 crore

Published on: 9:02 am

Tata Steel Limited informed that its wholly-owned subsidiary, Tata Steel Mining Limited (TSML) has successfully completed the acquisition of a 90% controlling stake in Rohit Ferro – Tech Limited as per the approved Resolution Plan under the Corporate Insolvency Resolution Process (CIRP) of the Insolvency and Bankruptcy Code 2016 (IBC).
According to the terms of the Resolution Plan, TSML has funded Rs617.12 crore for payment of admitted CIRP cost, operational creditors, employee dues, and financial creditors as per the provision. Additionally, the financial creditors of RFT will get 10% of the equity shares of RFT towards the part conversion of their loan. Read more

Infosys Q4FY22 Preview: Revenues seen at Rs328,230 million, PAT at Rs58,087 million

Published on: 8:19 am

Infosys is all set to report a solid performance, despite a high base. Revenue growth will be a function of broad based traction in key verticals, though seasonality factor might dampen the show a bit. Continued adoption of digital and cloud platforms augur well for the company and will continue to drive deal wins.
EBIT margins could shrink amid high visa costs, continued supply-side pressures and lower utilization rates.
For FY23, the company could guide for 12-14% growth in constant currency revenues and EBIT margin of 22-24%. Read more

Top stocks in focus: Infosys, TVS Motors, HeidelbergCement, Den Network

Published on: 8:14 am

Anand Rathi Wealth: Profit in Q4FY22 grew at a healthy space, rising 239 percent year-on-year to Rs35 crore and revenue increased 49 percent YoY to Rs115 crore with assets under management growing strong by 23 percent to Rs32,906 crore compared to year-ago period.
Simplex Infrastructures: The company in a BSE filing said the board has approved raising of funds up to Rs421.8 crore by issuing equity shares and warrants at a price of Rs56.61 per share, to Swan Constructions.
TVS Motor Company: Swiss E-Mobility Group (Holding) AG, a subsidiary of the company, has acquired 100 percent shareholding in Alexand'Ro Edouard'O Passion Vélo Sàrl. The acquired company is primarily engaged in the sale of e-bikes as well as e-bike accessories across a range of premium e-bike brands such as TREK, Riese & Muller, Cannondale, Moustache and others. The arm acquired company for CHF 2.79 million. Read more

SGX Nifty indicates a flat start for Indian markets

Published on: 8:02 am

SGX Nifty is at 17,581 levels, higher 20 points. (Updated at 7:42 AM)
The Nifty saw another weak session as foreign selling increased following the weakness in US markets which saw the index dip over 200 points before a strong rally in the last hour saw the index close lower by 140 points.
Bank Nifty was the star outperform as it recovered to close from down 400 to close with gains of 133 points. ICICI, AXIS & Bandhan led the gainers, while metal & energy stocks led the losers even though TCS results beat estimates. Read more

Here is the important stock market news to watch out for today.

Published on: 8:02 am

Here is the important stock market news to watch out for today.
Markets to open on a flat note; support @17,350, resistance at 17,900.
FIIs sold shares worth Rs3128.39 crore (cash), and bought Rs870.01 crore in index futures.
US markets close higher. Asian markets trading in green led by Nikkei index.
Brent crude was trading 0.61% up at $105.25 per barrel.
Anand Rathi Wealth: Profit in Q4FY22 grew at a healthy space, rising 239 percent year-on-year to Rs35 crore and revenue increased 49 percent YoY to Rs115 crore with assets under management growing strong by 23 percent to Rs32,906 crore compared to year-ago period. Read more

Derivative watch

Published on: 7:02 am

Broader markets underperformed compared to the main indices with Nifty Midcap and Nifty SmallCap losing 1.9% and 1.5% respectively.
The overall market breadth stood negative as 1,174 shares advanced while 2,247 declined on BSE.
Among stocks on the Nifty 50, Hindalco was the top loser as the stock cracked 5.77 per cent. Coal India, Grasim Industries, Tata Motors and Tata Steel were also among the laggards. Axis Bank, Kotak Mahindra Bank, PowerGrid, Maruti, ICICI Bank, IndusInd Bank, M&M and HDFC settled in the green.