Latest News and Updates

05th May, 2022

Tata Power Solar secures solar EPC order of 1GW worth Rs5,500 crore from SJVN; Stock rises 1%

Published on: 2:52 pm

  • Tata Power Solar Systems Limited, one of India’s largest integrated solar companies and a wholly-owned subsidiary of Tata Power, bagged India’s largest single solar EPC order of 1GW for approx. Rs5,500 crore from SJVN Limited.
  • At around 2:55 PM, Tata Power was trading at Rs247.60 apiece up by Rs2.65 or 1.08% on the BSE.
  • This EPC order has been designed keeping in mind the innovative use of ‘Make in India’ cells and modules. The project will be developed under the CPSU scheme of MNRE and will be completed within a period of 24months. Covering around 5000+ acres of land in Rajasthan, this project aims at reducing around 22,87,128kg of carbon emission and is expected to generate around 2500 million units annually. Read more

LTI recognized among Top 5 IT Service Providers in Nordics; Stock rises over 1%

Published on: 1:49 pm

  • Larsen & Toubro Infotech has been ranked among the top 5 players in the latest IT Sourcing study for the Nordic region by Whitelane Research and PA Consulting. LTI scored an overall satisfaction score of 77% in the Customer Satisfaction category, well above the industry average of 72%.
  • In Sweden, LTI was ranked #2 scoring 7% points above the average and in Denmark LTI improved 11% points from 2021 survey to be ranked #4.
  • LTI has consistently been rated high in customer satisfaction for the past three years. The industry-wide accolade reflects LTI’s strong results across multiple dimensions, including Security where LTI was ranked the best, Account Management Quality where LTI has been ranked #2 and many others where LTI has been ranked in the Top 3. Read more

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LIC IPO issue subscribed 0.83 times on Day 2

Published on: 1:42 pm

  • The initial public offering of country's largest life insurance company Life Insurance Corporation of India has subscribed 83 per cent, receiving bids for 13.57 crore equity shares against offer size of 16.2 crore equity shares.
  • The portion set aside for policyholders portion has been subscribed 2.53 times, staff 1.74 times, and retail investors subscribed 0.77 times, while QIBs bid for 0.34 times shares of their allotted quota and NII lapped up 0.33 times of their portion. Read more

WardWizard Innovations stock surges 2% after signing MoU with Singapore-based Sunkonnect

Published on: 12:59 pm

  • Leaping to strengthen the battery infrastructure in India, WardWizard Innovations and Mobility Ltd. signed a memorandum of understanding (MOU) with Singapore-based renewable energy management consulting firm Sunkonnect. The association is aimed at facilitating a feasibility study and identification of potential partner for the manufacturing of Li-ion advance cells in India.
  • Under the MoU, Sunkonnect will set up a committee of experienced scientists , engineers , analysts to evaluate and identify the professional partner, as well as to develop the roadmap to set up the 1GWh cell production plant at WardWizard’s electric vehicle ancillary cluster in Vadodara. Read more

Jayant Agro Organics felicitated by US-India Importers Council; Stock climbs 2.5%

Published on: 12:40 pm

  • Jayant Agro-Organics Ltd. was felicitated by US-India Importers Council (USIIC) under Large Company category in Chemicals and Agribusiness sector. The Award was received by Whole-time Director of the Company, Dr. Subhash V. Udeshi.
  • The Award Ceremony was held on April 28, 2022 on the occasion of completion of 75 years of diplomatic relations between the world’s largest and the world’s oldest democracies as the leaders of both the state’s share a commitment to a multi-dimensional trade agenda. Read more

Indian Energy Exchange achieves 7574 MU volume in April 2022; Stock marginally up

Published on: 12:01 pm

  • In the first month of the new fiscal year 2023, the Indian Energy Exchange achieved 7574 MU volume across all the market segments comprising 6989 MU in the conventional power market, 336 MU in the green power market, and 249 MU (2.49 lac Certificates) in the REC Market.
  • The volumes declined 1.7% vis-à-vis April’21 considering the power supply related constraints which also led to high clearing prices across all the market segments. Read more

LIC IPO total issue subscribed 0.75 times on day 2; retail portion subscribed 0.69 times

Published on: 11:36 am

Sona Comstar ties with C‐Motive Technologies to develop electrostatic drive motors for EV applicatio

Published on: 11:36 am

  • Sona BLW Precision Forgings Ltd (Sona Comstar), a leading global automotive technology company, has partnered with C-Motive Technologies ("C-Motive"), the technology company that has developed the world's first commercially viable electrostatic motor.
  • Sona Comstar and C-Motive will collaborate to develop electrostatic drive motors for electric vehicle (EV) applications, for which we estimate the serial production will likely start in 2026. The proposal, amongst others, involves participation in C-Motive's latest financing round. Read more

Satin Creditcare Network stock hits 5% upper circuit after Q4 PAT at Rs21 crore

Published on: 11:32 am

  • Satin Creditcare Network Limited (SCNL)  has announced its audited financial results for the quarter and year ended 31st March 2022. The financial numbers are based on IndAS.
  • The stock is currently trading at Rs122.10 up by Rs5.8 or 4.99% from its previous closing of Rs116.30 on the BSE. Read more

Hazoor Multi Projects bags work order worth Rs6.24 crore; Stock dips1.5%

Published on: 11:06 am

  • Hazoor Multi Projects Ltd has informed to the exchanges that the company received a work order of Rs6.24 crore.
  • As per the filing, the order is for completion of Balance work of "National Highway No 548-A from Section Waken Pali to 2 lane with paved shoulder’ received from Varaha Infra Limited. Read more

SJVN's 1000 MW solar project in Bikaner, Rajasthan under CPSU Scheme

Published on: 10:33 am

  • SJVN Ltd had participated in the tender floated by Indian Renewable Energy Development Agency Limited ("IREDA") under the CPSU Scheme for development of Grid connected Solar PV Power Project for a capacity of 1000 MW through competitive Bidding Process based on VGF support. The Company bagged the full quoted capacity of 1000 MW and was issued Letter of Award ("LOA") dated October 04, 2021 from IREDA.
  • The Company issued the Letter of Award for EPC Contract to Tata Power Solar Systems Limited on May 04, 2022 for the development of 1000 MW (AC) of Ground mounted Solar Project in Bikaner, Rajasthan. The scope includes end to end delivery of the commissioned Solar Plant to SJVN including arrangement of land on outright purchase basis, power evacuation system up to the ISTS Sub Station and Operation and Maintenance of the Solar PV Plant for 3 years. Read more

UPL acquires naturally derived fungicide 'OptiCHOS' to strengthen biocontrol portfolio; Stock soars

Published on: 10:16 am

  • UPL Ltd. has announced that UPL Group has acquired OptiCHOS, a naturally derived fungicide for its Natural Plant Protection (NPP) business unit. The NPP portfolio houses natural and biologically derived agricultural inputs and technologies.
  • OptiCHOS offers farmers a new, low-risk, residue free, and bio-degradable broad spectrum disease control solution, with low environmental and human impacts. The active ingredients of OptiCHOS were developed from the chitin-rich by-products of the shellfish industry by BioCHOS, a spin-off of the Norwegian University of Life Sciences. NPP’s acquisition of OptiCHOS includes the registration data package and patents enabling the product to be used in mixture of a wide range of fungicides, providing the agricultural industry a variety of options.Read more

VMware and Wipro expand partnership to Power Customers' Digital Transformation; Stock up 1%

Published on: 9:58 am

  • VMware, Inc. and Wipro Limited has announced an expanded collaboration that will enable customers to achieve the cloud freedom they desire with the enterprise control they require as they execute their digital strategies. The companies are bringing together the power of VMware Cross-Cloud services with industry-leading Wipro FullStride Cloud Services to help global enterprises accelerate app modernization and reduce the cost, complexity, and risk of moving to the cloud.
  • Multi-cloud architectures can accelerate service delivery and give lines of business and IT the flexibility to innovate using the best services from different cloud providers, without lock-in. Multi-cloud also comes with inherent complexity that can slow down application development, increase management costs, create networking and security blind spots, and produce sub-par user experiences. Read more

Markets trade higher; Sensex tops 500 pts, Nifty 50 above 16,800; Hero MotoCorp, ONGC, Tata Steel le

Published on: 9:46 am

  • Indian markets traded on a positive note during Thursday's opening bell after the Reserve Bank of India (RBI) raised the repo rate by 40 basis points (bps) to 4.40 per cent in an off-cycle meeting on Wednesday. The domestic equities recorded a broad-based buying with IT stocks outperforming. Consumer Durables stocks was the only laggard during the early trade. Notably, with RBI's rate hike, the Bank signals removal of pandemic-era monetary stimulus. Also, ongoing Russia-Ukraine war, surging Covid-19 cases continue to remain in focus as corporate earnings also play a role in swaying investors sentiments.
  • Moreover, globally US Federal Reserve also raised key interest rate by a 50 bps in bid to tame inflation which is also the key factor to impact indian financial markets today.
  • At around 09:45 AM, Sensex was trading at 56,159.32 up by 490.29 points or 0.88%. The index has touched an intraday high of 56,319.93 in early trade. Read more

Tata Consumer Products Q4 profit rises three-fold to Rs239 crore; Stock dips 1%

Published on: 9:23 am

Tata Consumer Products Ltd. stocks in focus today as the company has announced its results for the quarter and fiscal year ended March 31, 2022.

Consolidated Results:
  • Revenue from Operations for the quarter at Rs3175 crore, up 5% on reported basis, and up 6% on a like to like basis, net of exits
  • Revenue from Operations for the year at Rs12425 crore, up 7% on reported basis and up 9% on a like to like basis, net of exits Read more

State Bank of India to raise $2 billion through overseas bonds in FY23; Stock surges near 2%

Published on: 9:20 am

  • State Bank of India in a regulatory filing on Wednesday has informed that the Executive Committee of the Central Board is scheduled to have a meeting on May 10, 2022 to consider, inter alia, the following:
  • "To examine the status and decide on long term fund raising in single / multiple tranches up to US$ 2 Billion, through a public offer and / or private placement of senior unsecured notes in US Dollar or any other convertible currency during FY 2022 - 23." Read more

Meghmani Organics Q4FY22 revenue grows 77% yoy at Rs813 crore; Stock gains 1.5%

Published on: 9:17 am

Meghmani Organics Ltd has announced its financial results for the quarter and year ended March 31, 2022.

Q4 FY2022 Results - Highlight
  • Revenue grew by 77.1% YoY to Rs813 Crore in Q4 FY2022 aided by higher capacity utilization along with improvement in volume & realisation from Pigment and Agrochemicals business
  • Company’s EBITDA grew by 305 % yoy to Rs136 crore. EBITDA margin expanded by 947 bps. Read more

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