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13th May, 2022

Patel Engineering bags new order of Rs2,461 crore from Chenab Valley Power Projects

Published on: 3:45 pm

  • Patel Engineering, a Premier civil construction Company specialised in the hydropower sector, has announced that it has bagged a Rs2,461 crore contract for the works of “Construction of Diversion Tunnel, Concrete Gravity Dam, Intake, Pressure Shafts, Underground Power House & Tailrace Tunnel (Lot 1) for Kwar HE Projects in District Kishtwar, J & K, India” (Kwar HE Project).
  • The Kwar HE Project is being executed by Chenab Valley Power Projects Limited, a Joint Venture of NHPC Limited (a Govt of India Enterprise) & JKSPDC (a Govt of J & K Enterprise) (the Authority) to harness the vast hydro potential of river Chenab. Hon’ble Prime Minister laid the foundation stone of Kwar HE Project. Read more

L&T Construction secures contract for its Water & Effluent Treatment Business

Published on: 3:10 pm

  • The Water & Effluent Treatment business of Larsen & Toubro-led L&T Construction has secured a design a build order from the Public Health Engineering Department, Jodhpur Rajasthan to execute a Parallel Carrier System to the Rajiv Gandhi Lined Canal (RGLC Phase Ill) on a single point responsibility basis.
  • The scope of work includes 213 Kms of raw water mild steel transmission mains, 4 pump houses along with associated electrical, mechanical a instrumentation works. Read more

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Tata Motors launches Nexon EV MAX at Rs17.74 lakh; Stock hits 10% upper circuit

Published on: 1:54 pm

  • Tata Motors has launched an extension to India’s bestselling EV in the personal mobility segment, the new Nexon EV MAX, at an attractive starting price of Rs17.74 lakh (ex-showroom All India). With this launch, Tata Motors is taking the lead to enhance the appeal of EVs and expand the market with a new offering for customers who are look for longer intercity travel.
  • On Friday, at around 1:56 PM, Tata Motors was trading at Rs411.55 per piece higher by 10.60% on the BSE. Read more

Wipro named an Industry Leader in ER&D by Zinnov for 12th consecutive year

Published on: 12:40 pm

  • Wipro Limited, a leading global information technology, consulting and business process services company has been named a Leader in Engineering and Research & Development (ER&D) and Internet of Things (IoT) Services by global management consulting firm Zinnov, for the 12th consecutive year.
  • The Zinnov Zones ratings provide an evaluation of global ER&D Service Providers based on their capabilities and coverage across a range of verticals and industry segments. Read more

Ethos IPO to open on May 18, sets price band at Rs836-878 per share

Published on: 12:08 pm

  • Chandigarh-based Ethos Limited (“The Company” / “Ethos”) has fixed the price band at Rs 836.00 to Rs 878.00 per Equity Share for its maiden public offer. The initial public offering (“IPO” or “Offer”) of the Company will open on Wednesday, May 18, 2022, for subscription and close on Friday, May 20, 2022. Investors can bid for a minimum of 17 Equity Shares and in multiples of 17 Equity Shares thereafter.
  • The IPO consists of a fresh issue of equity shares aggregating to Rs 37,500 lakhs (Rs 375 crore) and an offer for sale (OFS) of up to 1,108,037 equity shares. Read more

Pristine Logistics & Infraprojects files DRHP for IPO

Published on: 11:31 am

  • Delhi-based Pristine Logistics & Infraprojects Limited (“The Company”), one of India's major multi-modal integrated logistics providers, focusing on rail transportation networks for infrastructure and services, has filed its Draft Red Herring Prospectus (DRHP) with the markets regulator, Securities and Exchange Board of India (SEBI), to raise funds through an initial public offering (IPO) with a fresh issue of Rs 250 crore and Offer-for-sale of up to 20,066,269 equity shares.
  • The issue has a face value of Rs 5 per equity share for the proposed share sale. The Offer is being made through the Book Building Process, wherein not more than 50% of the Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders. Read more

ZIM Laboratories announces grant of marketing authorization for 'Sildenafil 50 mg' in Spain, Europe

Published on: 11:27 am

  • ZIM Laboratories Limited, a pharmaceutical company which manufactures differentiated generic products based on R&D and innovative process technologies has announced that AEPMS - The Spanish Agency for Medicine and Healthcare Products has granted Marketing Authorisation for it's innovative product "Sildenafil 50 mg" ODS in Spain to it’s wholly owned European Subsidiary – SIA ZIM Laboratories Limited.
  • ZIM Labs is a pioneer in developing Oral Thin Films ("OTF") an innovative and novel drug delivery dosage form. The above product is developed using patented Thinoral technology, which yields instantly wettable, rapidly dissolving, and stable orally dissolving films. Read more

GAIL to set up one of India's largest PEM-based Green Hydrogen project

Published on: 11:02 am

  • In line with the National Hydrogen Mission, GAIL (India) Limited has awarded a contract to set up one of the largest Proton Exchange Membrane (PEM) Electrolyser in India. The project would be installed at GAIL's Vijaipur Complex, in Guna District of Madhya Pradesh, and would be based on renewable power.
  • The Project has been designed to produce around 4.3 Metric Tons of Hydrogen per day (approx. 10 MW capacity) with a purity of about 99.999 Volume %. It is scheduled to be commissioned by November 2023. In line with the vision of Atmanirbhar Bharat, the project has been awarded to a vendor having domestic value addition of more than 50 per cent. Read More

Sun Pharma gets USFDA nod for generic Mesalamine Extended Release Capsules; Stock climbs 2.5%

Published on: 10:41 am

  • Sun Pharmaceutical Industries Limited has announced that it has received final approval from US FDA for its Abbreviated New Drug Application (ANDA) for generic Mesalamine Extended Release Capsules, 500 mg.
  • The generic product approval is based on Pentasa Extended Release Capsules, 500mg as a reference product. Read more

Ind Ra affirms Axis Bank long-term issuer rating at 'AAA' with Stable outlook

Published on: 10:24 am

  • India Ratings and Research (Ind-Ra) has affirmed Axis Bank Limited’s (Axis) Long-Term Issuer Rating at ‘IND AAA’ with a Stable Outlook and Short-Term Issuer Rating at ‘IND A1+’.
  • According to the rationale report, the affirmation of Axis’s Long-Term Issuer Rating factors in its large, pan-India franchise, on both asset and liability sides. Read more

Gravita India begins new recycling vertical at Ghana, West Africa; Stock surges 1.5%

Published on: 10:10 am

  • Gravita India Limited, a leading recycling company, having its manufacturing presence around the globe, has informed that Recyclers Ghana Limited, a step down subsidiary of the company situated in Ghana, West Africa has started commercial production and recycling of waste rubber with an annual capacity of around 6,000 MTPA.
  • As per the filing, the Company has incurred capital expenditure of Rs3.80 crore for setting up of the facility which has been funded through internal accruals. Read more

Indiabulls Housing Finance increases its lending rates by 40 basis points; Stock soars 2%

Published on: 9:52 am

  • Indiabulls Housing Finance Ltd. stocks rally in the market after announcement of increasing its lending rates.
  • (IBHFL) revises its Reference Rates on Housing Loans and Loans Against Property by 40 basis points. The new rates will be applicable for existing borrowers from June 01, 2022 onwards, said the finance company in a regulatory filing on Thursday. Read More

Markets trade positive after inflation, IIP data; Sensex zooms 600 pts, Nifty 50 near 16k; Bank, Aut

Published on: 9:38 am

  • The equity markets commenced on a positive note with benchmarks Sensex surged 600 points and Nifty 50 rising to near 16,000-level. A broad-based buying was recorded across sectoral indices in Indian markets with banking, auto, metal stocks outperforming. The domestic equities performance comes after economic data presented by the government however, cautious tone is still prevailing amongst the investors considering CPI inflation data, RBI meetings and global inflation pressure.
  • At around 9:40 AM, Sensex is trading at 53,605.04 up by 674.73 points or 1.27%. The index is trading near the day's high of 53,625.25.
  • Meantime, Nifty 50 was performing at 15,971.60 higher by 163.60 points or 1.03%. The index has climbed to the day's high of 15,994.40. Read More

Wipro announces 5-year partnership with Scantia to transform the digital workplace

Published on: 9:21 am

  • Wipro Limited, a leading global information technology, consulting and business process services company, newly has announced a five-year strategic engagement with Scania, a world leading provider of transport solutions.
  • Scania currently has 54,000 employees in more than 100 countries. Going forward, Wipro will deliver streamlined support with increased automation and enhanced user experience through personalized services underpinned by real-time analytics to create a future-ready workplace for all Scania employees. This journey will be powered using Wipro’s Live Workspace solution for managed services. For Scania, this represents a major step towards digitalization of its services while leveraging the unique capabilities of Wipro’s global ecosystem. Read more

Zydus launches Bemdac drug to treat uncontrolled LDL-Cholesterol

Published on: 9:17 am

  • Zydus Lifesciences Ltd. (formerly known as Cadila Healthcare Ltd.), a discovery-driven global lifesciences company announced the launch of Bemdac (Bempedoic acid), a new class of drug for the first time in India.
  • The oral drug ushers in a new line of treatment for patients suffering from uncontrolled levels of LDL-Cholesterol (LDL-c) despite life-style modifications and the use of maximum tolerated dose of statins, which form the cornerstone of dyslipidemia management. Read More

Greaves Cotton posts highest-ever quarterly consolidated revenue at Rs621 crore; Stock jumps 5.5%

Published on: 9:16 am

  • Greaves Cotton Limited, one of India’s leading engineering companies, reported its highest-ever quarterly consolidated revenue of Rs621 crore for the quarter ended March 31, 2022, representing 19% jump over Q4FY21.
  • The company reported PBT before exceptional items of Rs33 crore. The quarter reflected the strong contribution of new businesses in driving revenue growth with 49% contribution in FY22. The Company delivers an improved EBITDA for Q4FY22 at Rs41 crore. The Company reported a consolidated revenue of Rs1710 crore for FY22, representing a growth of 14% over FY21 and EBITDA of Rs27 crore. Read more

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