Latest News and Updates

29th Apr, 2022

MEP Infrastructure Developers arm receives LoA from NHAI; Stock climbs 5%

Published on: 4:00 pm

  • MEP Infrastructure Developers Ltd has informed the Exchanges that its Step-down Subsidiary viz. Bhalaji Toll Road Private Limited (BTRPL) has received Letter of Award (LOA) dated April 28, 2022 from National Highways Authority of India ("NHAI") informing that BTRPL has been awarded the following 2 (two) Projects.
  • Guabari Fee Plaza: User fee collection agency through e-tender at Guabari Fee Plaza at Km 243.00 from Km.228.00 to Km 254.500 on Salsalabari to West Bengal Assam Border section of NH-31C in the State of West Bengal. The contract value is Rs7,90,07,400/-.
  • Nalavadi Fee Plaza: User fee collection agency through E-quotation basis (e-tender) for Nalavadi (km 161.200) fee plaza for the section from Hubbali Hospet section of NH-63 from Design Chainage Km 128.850 to km 272.571 (Existing Km 129.549 to Km 267.000) in the State of Karnataka. The contract value is Rs11,13,75,000/-. Read more

Inflame Appliances stock skyrockets 8% on receiving first trial order from Stovekraft

Published on: 1:43 pm

  • Inflame Appliances Limited, a leading manufacturer of home and kitchen appliances, today skyrocketed 8% after it has announced the most prestigious first trial order for 700 Chimneys from one of the renowned brands STOVE KRAFT, adding one more milestone to the expansion.
  • Commenting on the Order, Amit Kaushik, CEO &CFO, Inflame Appliances said, "We are pleased to share this milestone development. Demand for home and kitchen appliances will grow manifold over the coming decade and Inflame Appliances is committed to the vision of growing production rapidly to be the leading manufacturer in India." Read more

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Q4FY22 Preview: HDFC: NII seen at Rs4,567 crore, PAT at Rs3,309 crore

Published on: 1:40 pm

  • Result date: 2nd May, 2022
  • HDFC is likely to post a mixed set of numbers for the March 2022 quarter. While year-on-year performance is expected to be better, sequentially the company could perform better. HDFC’s assets under management (AUM) could grow 4% on a sequential basis. Continued traction in disbursements to individual as well as non-individual segments will drive the company’s topline.
  • Its margins though could contract amid moderating yields, aided by lower home loan rates and excess liquidity carry. Read more

Ind-Ra affirms Gujarat Gas’ commercial paper ratings at ‘IND A1+’; stock skids ~5%

Published on: 1:39 pm

  • Gujarat Gas Limited informed that India Ratings and Research (Ind-Ra) has assigned ratings to Bank Loans and Commercial Papers of the company.
  • The rating agency has assigned ‘IND AA+/Positive rating to the company’s bank loans worth Rs32 crore. While Commercial Papers worth Rs0.35 crore are assigned ‘IND A1+’ rating by Ind-Ra. Read more

Computer Age's significant arm collaborates with Microsoft India to develop Account Aggregator marke

Published on: 12:58 pm

  • Computer Age Management Services Limited informed that its wholly-owned subsidiary CAMSfinserv is working with Microsoft India to develop a robust technology foundation for the Account Aggregator (AA) marketplace in India, to accelerate digital transformation in areas such as credit lending, investment advisory, and personal finance management.
  • CAMSfinserv and Microsoft will work jointly to empower the Account Aggregator ecosystem by developing the digital capabilities necessary for stakeholders to seamlessly collaborate with each other, and drive inclusive financial growth in India. Read more

Capacite Infraprojects stock gains 2% on receipt of orders worth Rs826.49 crore

Published on: 12:43 pm

  • Capacit'e Infraprojects Limited, has received contract worth Rs826.49 crore (Excluding GST) from marquee Public as well as Private Sector Clients. The details are as under:
  • Proposed Turnkey development of Multi speciality hospital in Bhandup, Mumbai” from Municipal Corporation of Greater Mumbai for Rs599.04 crore (excluding GST)
  • Construction of Residential Project including Civil, RCC Structure, Masonry & Plaster works at Sector 58A, Seawoods, Navi Mumbai from a prestigious private sector client for Rs227.45 crore (excluding GST). Read more

Premier Explosives strikes new 52-week high on bagging Rs100.40 crore order

Published on: 12:17 pm

  • Premier Explosives’ counter jumped to a new 52-week high of Rs413.95 so far in today’s trade as the company informed investors of the new order received by it.
  • The company stated that it has signed a contract with an overseas entity for the supply of Rocket Motors (Items Sh-522 intended for R-22 aviation guided missiles with Igniter V-287) for a total value of USD 13.13 Million (Rs100.40 crore approx). Read more

Laurus labs delivers a lackluster performance during FY22; PAT declines 16% yoy

Published on: 12:00 pm

  • Laurus Labs Limited reported its results for the quarter and financial year ended March 31, 2022.
  • Company reported revenue of Rs4,936 crore in FY22, up by 3% yoy against FY21. While total net revenue for Q4FY22 increased 1% yoy at Rs1,425 crore.
  • Its EBITDA for FY22 was reported at Rs1,436 crore, registering a decline of 9% yoy against the previous financial year. For Q4FY22, EBITDA stood at Rs398 crore, down by 17% yoy. Read More

BHEL signs MoU with GE Power Conversion for development of Integrated Electric Propulsion Systems fo

Published on: 11:47 am

  • The signing of a Memorandum of Understanding (MoU) between Bharat Heavy Electricals Limited (BHEL) and GE Power Conversion provides a boost to India's indigenous capability in the field of advanced technology for Integrated Full Electric Propulsion Systems.
  • The MoU was signed in the presence of Rt Jeremy Quin MP, UK Minister of Defence Procurement, Hon British High Commissioner to India, MoD India Officials, Dr. Nalin Shinghal, CMD BHEL ,Renuka Gera, Director (IS&P) BHEL, Syreeta Jeffs and Balaji Parthasarathy, Directors of GE Power Conversion and J.P Srivastava Executive Director (IS) BHEL. Read More

Genus Power spurts ~6% on securing order worth Rs828.57 crore from State Utility

Published on: 11:38 am

  • Genus Power Infrastructures Ltd. has received a letter of award (LOA) for appointment of Advanced Metering Infrastructure Service Provider (AMISP) including design of AMI system with supply, installation, and commissioning of 10 Lakhs Smart Prepaid Meters, DT Meter level energy accounting and FMS of these 10 Lakhs smart meters.
  • This is the single largest order finalized by any state utility in the country for AMISP. This order reaffirms the company’s market position and capability as a technologically advanced metering solutions provider. Read more

Tata Power inks pact with NAREDCO to install 5,000 EV charging points across Maharashtra

Published on: 11:29 am

  • Tata Power Company Limited, India’s leading electric-vehicle charging infrastructure provider, has announced its collaboration with the National Real Estate Development Council (NAREDCO), Maharashtra to install up to 5,000 EV charging points across its member’s developer properties.
  • The company signed the MoU at The Real Estate Forum, 2022 in Mumbai in the presence of Shri Aaditya Thackeray, Hon'ble. Minister of Tourism & Environment, Govt. of Maharashtra. This move will boost EV adoption in the state.
  • Tata Power seeks to provide a comprehensive EV charging solution across member developers of NAREDCO Read more

Best Agrolife launches new products to develop agriculture growth; Stock marginally up

Published on: 11:27 am

  • Best Agrolife Limited with a vision dedicated to brace agriculture and strive for customer delight by continuous innovation and integrity of purpose has announced the launch of its new product in the narne and style of "RONFEN", "AXEMAN" and "REVEAL".
  • RONFEN: A first-of-its-kind proprietary ternary insecticidal combination of Best Agrolife. It is a single-shot solution that controls all sucking pests in  various crops. Read more

PNB Housing reports 37% yoy decline in NII at Rs593 crore in Q4FY22; stock trades flat

Published on: 11:17 am

  • PNB Housing Finance Limited announced the consolidated audited financial results for the quarter and financial year ended March 31, 2022.
  • The company informed that for Q4FY22 Loan Assets grew to Rs56,889 crore as of March 31, 2022, against Rs56,798 crore as on December 31, 2021.
  • Company’s Retail Gross NPA declined by 27% QoQ to Rs1,771 crore. Capital Risk Adequacy Ratio stood at 23.4% as of March 31, 2022, of which Tier I capital was 20.7%. Read more

Oricon Enterprises increases stake in United Shippers to 98.05%

Published on: 11:02 am

  • Oricon Enterprises Limited (OEL) has acquired 5,47,297 Equity Shares of United Shippers Limited (USL), a material subsidiary of the Company, at a price of Rs. 710/- per Equity Shares from the existing shareholder Logiscor Limited for total consideration of Rs38,85,80,870/-.
  • Further, post Acquisition the holding of Oricon Enterprises Limited (OEL) has increased from 29,69,552 Equity Shares to 35,16,849 Equity Shares in United Shippers Limited (USL) and the percentage holding has increased from existing 82.79% to 98.05%. Read More

Jubilant Ingrevia commissions new green ethanol-based Acetic Acid Plant; Stock gains 2%

Published on: 10:38 am

  • Jubilant Ingrevia Limited has announced the commissioning of its new Green Ethanol based food-grade Acetic Acid plant at its manufacturing facility in Gajraula, Uttar Pradesh. The plant is designed to meet the highest standards of product certifications like FSSAI, ISO 22000, Kosher, Halal, FCC Codex, etc. It will cater to the increasing demand in food preservative segment across the globe.
  • At around 10:40 AM, Jubilant Ingrevia was trading at Rs512.75 per piece higher by 2.65% on the BSE. Read more

Ind-Ra upgrades Torrent Pharma’s long-term rating to ‘Ind AA+/Stable’

Published on: 10:36 am

  • Torrent Pharmaceuticals Limited informed that India Ratings ·and Research Private Limited has upgraded the long-term credit rating of Term Loan and Non-Convertible Debentures of the Company to 'IND AA+/Stable' from 'IND AA/Positive'.
  • The total instruments reviewed by the rating agency are worth Rs12.42 billion, which has been reduced from the existing Rs14.09 crore.
  • The agency continues to take a consolidated view of Torrent and its subsidiaries while arriving at the ratings, because of the strong legal, operational, and strategic linkages between them. Read more

Nazara Tech board allots 1,00,468 equity shares under ESOP; Stock marginally down

Published on: 10:13 am

  • Nazara Technologies Limited has informed that the Nomination, Remuneration and Compensation Committee of Board of Directors of the Company on April 27, 2022, approved the allotment of 1,00,460 equity shares of Rs. 4/- each at an exercise price of Rs. 282.91 per Equity Share aggregating to Rs. 2,84,21,138.60/- to the option holders who have exercised their stock options under ESOP 2017. The said shares shall rank pari passu in all respects with the existing equity shares of the Company.
  • Consequent to the allotment of the aforesaid equity shares, the paid-up equity share capital of the Company shall stand increased from Rs.13,09,27,376/- consisting of 3,27,31,844 Equity Shares of Rs. 4/- each to Rs.13,13,29,216/- consisting of 3,28,32,304 Equity shares of Rs. 4/- each. Read more

Brightcom Group opens office in Berlin, under the leadership of Daria Oshry; Stock climbs 5%

Published on: 9:56 am

  • Brightcom Group has opened an office in Berlin, in line with its focused growth strategy for the EU region.
  • With this, the company now has 25 offices worldwide.
  • According to the filing, the Berlin office will be led by Daria Oshry, VP of Publisher Solutions for Brightcom. She has been in various roles within the company, from being the team lead of video advertising to Head of display advertising to the current role of Vice President in managing broader publisher solutions for Brightcom's clients. Read more

Markets in the fast lane; Sensex gains 350 pts, Nifty above 17,300 levels

Published on: 9:43 am

  • Indian markets were on a bull run in the opening bell of Friday led by strong positive global cues. Sensex neared to 57,900-level, while Nifty 50 stretched its gain to near 17,350 levels as it started the May F&O series with positive note. Globally, technology stocks outperformed in US markets amid upbeat earnings news which is the big relief for the investors globally for a time being from inflation perspective as well.
  • Meanwhile, back at home, a broad-based buying was witnessed with pharma and healthcare stocks outperforming counterparts and leading the rally. Also, banking, financials, auto IT and consumer durables sectors advanced amid a global bullish tone in the sector. However, FMCG and media stocks logged some profit bookings from investors during early trade on Friday. Read more

Varroc Engineering hits the roof on divestment of 4-Wheeler Lighting Business in America and Europe

Published on: 9:39 am

  • Varroc Engineering Limited’s counter skyrockets and touch new a 52-week high in today’s early morning trade as the company announced its divestment plans.
  • At around 9.36 AM, its scrip was trading 20% higher at Rs493.85 against its previous close of Rs411.55 on NSE. Read more

Biocon’s revenue rises 14% yoy at Rs8,397 crore in FY22; stock marginally up

Published on: 9:27 am

  • Biocon Limited, an innovation-led global biopharmaceuticals company, today announced its consolidated financial results for the fourth quarter and the fiscal year ended March 31, 2022.
  • Company’s Consolidated Revenue jumped 21% yoy to Rs2,476 crore from Rs2,048 crore in Q4FY21. Its EBITDA during the quarter under review stood at Rs659 crore, up by 3% yoy against Rs659 crore in Q4FY21. Read More

Shoppers Stop logs 45% yoy growth in sales during FY22; Loss at Rs88 crore

Published on: 9:22 am

  • The Board of Directors of Shoppers Stop Limited has approved the results for the quarter ended March 31, 2022, and for the full year ending March 31, 2022.
  • The company reported growth of 6% yoy in Sales at Rs798 crore for Q4FY22 as compared to Rs753 crore in Q4FY21. Sales for the financial year ended March 2022 were reported at Rs2,803 crore as compared to Rs1,933 crore in FY21, up by 45% yoy.
  • EBITDA for the quarter stood at Rs97 crore as against Rs116 crore in Q4FY21, down by 17% yoy. During FY22, EBITDA jumped 59% yoy at Rs434 crore as compared to Rs272 crore in FY21. Read more

Kriti Industries India suffers fire accident at Pithampur plant's stock yard; Stock gains 3.5%

Published on: 9:21 am

  • Kriti Industries (India) Ltd has informed to the exchanges that a fire had engulfed at the Stock Yard of the company's Pithampur Plant, Dhar dist., (M.P.) on April 28, 2022 morning.
  • As per regulatory filing, due to the robust safety measures adopted by the Company, there were no casualties and the fire was restricted to Stock yard area only and the stocks of the company are adequately insured. Read more

Moschip Technologies' PAT increases 4.4% yoy to Rs6.45 crore during FY22

Published on: 9:17 am

  • Moschip Technologies has announced its consolidated results for the Fourth Quarter and Full Year ended March 31, 2022.
  • Moschip Technologies continues to focus on Semiconductor / Embedded design services, Turnkey ASIC solutions, Semiconductor IP (Intellectual Properties) and IOT projects which have been enabling steady and sustainable growth. Read more

Vedanta reports highest ever quarterly EBITDA of Rs13,768 crore; Stock rises near 1%

Published on: 9:16 am

  • Vedanta Limited has announced its consolidated results for the Fourth Quarter and Full Year ended March 31, 2022.
  • Financial Highlights –
  • Q4FY22:
  • Record consolidated quarterly revenue of Rs39,342 crore, up 41% yoy
  • Highest ever quarterly EBITDA of Rs13,768 crore, up 51% yoy Read More

IndiaMart InterMesh posts 12% yoy growth in revenue for Q4FY22; stock dips ~3%

Published on: 9:16 am

  • Indiamart Intermesh Limited reported consolidated Total Revenue from Operations of Rs201 crore in Q4FY22, registering a growth of 12% yoy on the back of an 11% increase in the number of paying subscription suppliers and marginal improvement in realization from existing customers.
  • Its Consolidated Deferred Revenue grew by 25% yoy to Rs907 crore as of March 31, 2022.
  • Consolidated EBITDA stood at Rs57 crore and EBITDA margin for Q4FY22 came in at 28% as compared to 48% for Q4FY21. Read more

Vedanta reports highest ever quarterly EBITDA of Rs13,768 crore; Stock rises near 1%

Published on: 9:16 am

Vedanta Limited has announced its consolidated results for the Fourth Quarter and Full Year ended March 31, 2022.

Financial Highlights –

Q4FY22:
  • Record consolidated quarterly revenue of Rs39,342 crore, up 41% yoy
  • Highest ever quarterly EBITDA of Rs13,768 crore, up 51% yoy Read more

IndiaMart InterMesh posts 12% yoy growth in revenue for Q4FY22; stock dips ~3%

Published on: 9:16 am

  • Indiamart Intermesh Limited reported consolidated Total Revenue from Operations of Rs201 crore in Q4FY22, registering a growth of 12% yoy on the back of an 11% increase in the number of paying subscription suppliers and marginal improvement in realization from existing customers.
  • Its Consolidated Deferred Revenue grew by 25% yoy to Rs907 crore as of March 31, 2022.
  • Consolidated EBITDA stood at Rs57 crore and EBITDA margin for Q4FY22 came in at 28% as compared to 48% for Q4FY21. Read more

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