Latest News and Updates

12th May, 2022

Premier Explosives signs supply contract worth Rs44.58 crore with Defence Ministry

Published on: 4:10 pm

  • Premier Explosives Ltd has informed to the exchanges that the Company has signed a contract with Ministry of Defence (Army) at New Delhi on May 11, 2022.
  • The contarct is for supply of NFM - new family of Munitions for a total value of Rs44.58 crore (including GST), to be delivered within twenty four months from the effective date of contract, said company in a regulatory filing on Thursday. Read more

Dhabriya Polywood receives work order of Rs4.36 crore from Vatika; Stock dips 1%

Published on: 3:06 pm

  • Dhabriya Polywood Ltd has informed that the Company has received a work order from VATIKA LIMITED.
  • As per the regulatory filing, the order is for Supply & Installation of Aluminium Doors & Windows for total value of Rs4.36 crore for their Project at Gurugram. Read More

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Gensol Engineering bags order worth Rs37.5 crore for building solar power projects; Stock plunges 4%

Published on: 1:51 pm

  • Gensol Engineering Limited has secured purchase orders to develop Grid-Connected Ground-mount and Rooftop Solar Power Generation Systems cumulating to 15 MWp.
  • The Company has in the months of April and May, 2022 in normal course of business, received purchase orders from its reputed clients for the development of solar power projects aggregating to a capacity of around 15 MWp in the states of Goa, Gujarat and Punjab.
  • The cumulative order value of these projects is pegged at over Rs37.5 crore exclusive of taxes. Read more

Thomas Cook & SOTC announce new edition of travel offers to accelerate demand

Published on: 12:54 pm

  • Thomas Cook (India) Limited, India’s leading omnichannel travel services company and its Group Company, SOTC Travel, have launched the 8th edition of Grand Indian Holiday Sale and Super Holiday Sale. Both properties come loaded with an exciting diversity of unbeatable price points and special deals, including discounts of upto Rs29,000 and the option to Holiday Now and Pay After Return with cashback of upto Rs. 5000 on offer from May 5-20, 2022. Thomas Cook’s Best Price Guarantee comes with a promise to pay double the difference if a customer finds a better price.
  • Thomas Cook’s Grand Indian Holiday Sale and SOTC’s Super Holiday Sale are available across the Companies’ omni-channel network. Read more

Dhanvarsha Finvest raises Rs62.2 crore; Stock sheds over 1%

Published on: 11:58 am

  • Dhanvarsha Finvest Limited, a tech-enabled MSME lender has raised a total of Rs62.2 crore, in a mix of equity and warrants led by Aviator Emerging Market Fund, and conversion of warrants by the Promoter Group and Management. Rs34.8 crore of equity and warrants is infused already, and the company will further benefit from realization of Rs27.4 crore upon conversion of warrants into equity over the next 18 months.
  • Backed by marquee global finance professionals, post fund infusion, the Dhanvarsha’s net-worth will increase to Rs~2.4 billion which will further enable it to empower small businesses through its extensive omni-channel distribution network. Read more

Texmaco Rail & Engineering bags order worth Rs6,450 crore for 20,067 wagons; Stock rises 3%

Published on: 11:43 am

  • Texmaco Rail & Engineering Ltd stocks rally despite Thursday's bearish market session after the announcement of receipt of work order.
  • As per the filing, the Company has received an order for 20,067 wagons valuing Rs6,450 crore approx. (to be executed over a period of thirty-nine months) against the recent Railway tender for wagons issued by the Indian Railways. Read more

Asian Granito receives strong response to its rights issue, oversubscribed by 1.28 times

Published on: 11:28 am

  • Asian Granito India Limited (AGL) has announced that its Rights Issue of Rs441 crores, largest ever by any Ceramic Company in India, achieved successful closure, receiving overwhelming response from the shareholders and investors despite challenging times.
  • The public portion of the Rights Issue was subscribed more than 1.38 times receiving bids for 6.87 crore shares or Rs432 crore of bids received. On an overall basis, the Company received bids for over 8.89 crore shares or Rs561 crore of bids in the Rights Issue on the closing date (May 10) against 6.99 crore shares or Rs441 crore offered, representing more than 127% subscription. Read more

Fitch Rating: Indian Renewable Power Generators face modest gains from spiking power demand

Published on: 11:12 am

  • Supply factors are likely to limit near-term growth opportunities for Indian renewable power generators stemming from the country’s current heat wave and high fossil-fuel prices, says Fitch Ratings. Nonetheless, their medium-term prospects remain strong and are supported by government policies to diversify India’s energy base away from fossil fuels.
  • Rising power demand as India’s economy recovers from the Covid-19 pandemic has been accentuated by high temperatures that have afflicted large regions since March. This has added to electricity shortages and prompted official efforts to increase power generation from coal- and gas-fired plants, including restarting older plants. However, domestic coal supplies have struggled to meet demand and high imported coal prices, further spurred by Russia’s invasion of Ukraine, pose additional challenges for coal-based power generators. Read More

H G Infra's subsidiary achieves financial closure for NHAI road project

Published on: 10:33 am

  • H.G. Raipur Visakhapatnam OD-6 Private Limited, a wholly owned subsidiary of H.G. Infra Engineering Limited ('HGINFRA') is in receipt of letter from National Highways Authority of India ('NHAI') for noting of financial close w.e.f. May 06, 2022.
  • As per the regulatory filing, the project is for the 'Development of Six Lane Baunsaguar - Baraja Section of NH- 130-CD Road from km 293+000 to km 338+500 under Raipur Visakhapatnam Economics Corridor in the state of Odisha on Hybrid Amuity Mode (Package - OD-6).' Read More

Vikas Ecotech bags order worth Rs20 crore for Infrastructural Steel

Published on: 10:24 am

  • Vikas Ecotech Limited has informed to the exchanges regarding Consumer Business Division of the Company.
  • The Consumer products division of the company has won confirmed orders for infrastructural product business segment valued at about Rs20 crore.
  • These fresh orders for supplies of infrastructural steel will be executed within the Q1 of FY 2022-23, in addition to this, the company is expecting more orders for the ongoing construction projects which have gained a pace after the Uttar Pradesh Elections, these orders will give a considerable leverage to the Top Line and riding on this success, the company will be exceeding the business projections for the First Quarter of the current fiscal year. Read more

Lodha Developers announces $1 billion partnership with lvanhoé Cambridge and Bain Capital

Published on: 10:01 am

  • Macrotech Developers (Lodha), has announced a partnership with Bain Capital and Ivanhoé Cambridge to develop a next-generation green digital infrastructure platform. The platform will establish a pan-India presence in the digital infrastructure space that includes logistics and light industrial parks as well as in-city fulfillment centers.
  • The platform will jointly invest ~USD 1 billion to create ~30 million sq. ft. of operating assets to serve India’s digital economy. Each of the 3 partners will have a ~33% equity interest in the property ownership, whilst Lodha will lead the development, operations and management of the assets. Read More

Markets trade bearish ahead of CPI Inflation data; Sensex sheds 800 pts, Nifty 50 below 16k; Tata Mo

Published on: 9:49 am

  • Sensex and Nifty traded on a bearish note tracking weak global markets on Thursday. Banking, financial along with IT and pharma, metal stocks weighed the most on Indian markets during the opening bell. As investors' concern were broadly shifted towards inflation risk, it continues to be a major headwind for Indian markets and global markets as well. The government will announce Consumer Price India (CPI) inflation data later today.
  • At around 9:45 AM, Sensex was trading at 53,290.65 surging down by 797.74 points or 1.47%. The index has touched an intraday low of 53,090.86. Read More

Imagicaaworld Entertainment board nods resolution plan with Malpani Group as anchor investor

Published on: 9:17 am

  • Imagicaaworld Entertainment Limited, Board of Directors in their meeting held on Wednesday have approved the preferential issue as part of the resolution plan agreed by the lenders under the RBI Prudential Framework.
  • It was informed on May 7 2022, that the Lenders of the Imagicaaworld Entertainment Limited (“Company”) had pursuant to a Bid Document dated August 30, 2021 undertook an open bidding process to solicit binding bids from eligible entities/bidder(s) for assignment/one-time settlement of the debt obligations of the Company in accordance with the requirements of the Reserve Bank of India (Prudential Framework for Resolution of Stressed Assets) Directions, 2019. Read More

Hitachi Energy launches transformer components factory in Gujarat

Published on: 9:17 am

  • Hitachi Energy India Ltd has inaugurated its new transformer components factory in Vadodara, Gujarat. Located in its largest manufacturing location in India, this factory will produce dry bushings with the most reliable technology called 'Resin Impregnated Paper'.
  • This will be the first manufacturing facility in India producing Resin Impregnated Paper bushings up to 400kV voltage level. This dry technology improves the thermal, electrical and mechanical performance of transformer bushings, making them more resilient and reliable - critical in transformers deployed in the power grid. Read more

Kalpataru Power Transmission stock climbs 1% on order win of Rs2,126 crore

Published on: 9:16 am

  • Kalpataru Power Transmission Limited (KPTL) & its international subsidiaries has secured new orders / notification of awards of Rs2,126 crore (Including orders of Rs500 crore received in the month of March 2022).
  • The details are as follows: Read More

Q4FY22 Preview: Eicher Motors: Revenues seen at Rs31,820 million, PAT at Rs 6,113 million

Published on: 8:28 am

  • Result date: 13th May, 2022
  • Recommendation: Buy
  • Target price: Rs3,120
  • Company has witnessed a sequential improvement in volumes, due to easing semi-conductor shortage. VECV volumes have grown in double digit, both sequentially and over the year-ago quarter. Price hikes implemented seem sufficient to fully offset input cost pressures. Consolidated revenue could grow 8.2% over the year-ago quarter. Read more

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