Latest News and Updates

26th May, 2022

Markets end the day on a positive note

Published on: 3:49 pm

  • Indian markets have ended the day on a positive note, in the Green. NSE Nifty closed the day up by 144.35 points. BSE Sensex closed the day up by 503.27 points. Top gainers today were Tata Steel, JSW Steel, Apollo Hospitals etc.  Top losers today were UPL, Sun Pharma, Divi’s Lab etc.
  • Markets closed strongly in the green following some good buying in stocks that were perceived to have become fairly valued or undervalued after their decline in recent days.  Reports that government will not do additional borrowing in the fiscal year to bridge the gap in its fiscal deficit was also a positive news. Too much borrowing by the government pushes up interest rate for private investments. Read More

Do minutes of Federal Reserve Meeting reveal any surprise regarding interest rates?

Published on: 3:20 pm

  • According to reports, minutes of the meeting of US Federal Reserve show that members of the Federal Reserve want US interest rates to be raised to 2.4%. This rate is currently perceived to be the neutral rate of interest for the US economy.
  • Neutral rate of interest is the rate of interest that neither gives a boost to the economy nor slows it down.  Read more

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HCL Technologies inks pact with VELUX Group for its digital transformation; stock adds ~1%

Published on: 3:14 pm

  • HCL Technologies Limited (HCL) announced that it has signed an end-to-end IT services transformation agreement with the VELUX Group, the leading manufacturer of roof windows.
  • HCL Technologies has agreed to deliver a cloud-first, user-centric digital transformation program for the VELUX Group, adopting business-driven automation to modernize its applications and infrastructure landscape. This will speed up the VELUX Group’s digital transformation journey, underpinned by cloud migration and application modernization. Read more

Whirlpool’s PAT jumps ~61% yoy at Rs567.40 crore for FY22; stock marginally up

Published on: 2:56 pm

  • Whirlpool of India Limited announced its operating results for the fourth quarter and financial year ended March 31, 2022. FY22 Consolidated Total revenue from operations stood at Rs6,197 crore, up by 5.0% yoy against FY21.
  • Company reported a Consolidated EBITDA of Rs415.7 crore for FY22, lower by 19.9% yoy against the previous financial year.
  • Consolidated PAT was reported at Rs567.40 crore for FY22, up by 61.3% yoy against the previous financial year. Read More

V-Mart Retail logs 30% yoy growth in revenue at Rs459 crore for Q4FY22; stock trades flat

Published on: 2:34 pm

  • V-Mart Retail, India’s leading value fashion retailer, declared its audited financial results for the quarter and financial year ended March 31, 2022.
  • The company reported Revenue of Rs459 crore, up by 30% yoy as compared to Rs352 crore in the previous corresponding quarter.
  • For FY22, Revenue increased to Rs1,666 crore, up by 55% yoy against Rs1,075 crore in FY21, reflecting a sharper growth from a significantly covid impacted last year. Read more

CRISIL revises long-term rating of Finolex Industries' bank facilities to 'CRISIL AA+/Stable'

Published on: 1:59 pm

  • Finolex Industries Limited informed that CRISIL Ratings Limited has assigned a revised credit rating to the company’s bank facilities.
  • The rating agency has revised the long-term rating to ‘CRISIL AA+/Stable’ from the existing ‘CRISIL AA/Positive’.
  • CRISIL has reaffirmed the short-term ratings at ‘CRISIL A1+’. Read more

SH Kelkar clocks ~18% yoy growth in revenue for FY22; stock skids ~1%

Published on: 1:45 pm

  • S H Kelkar and Company (SHK), one of the largest Indian origin Fragrance and Flavour companies in India, has announced its financial results for the quarter and year ended March 31, 2022.
  • For Q4FY22, the company’s revenue from operations stood at Rs450.60 crore as against Rs397 crore, higher by 13.5% yoy. Revenue for FY22 stood at Rs1,564.20 crore as compared to Rs1,322 crore in FY21, up by 18.30% yoy. Read More

Shreyas Shipping logs revenue of Rs536 crore in FY22; PAT jumps ~380% yoy at Rs211 crore

Published on: 1:27 pm

  • Shreyas Shipping and Logistics Limited announced its Audited financial results (Standalone and Consolidated) for the year ended on March 31, 2022.
  • The company has reported a revenue of Rs152 crore in Q4FY22, and Rs536 crore during the financial year ended March 31, 2022. Read more

Zydus Lifesciences bags USFDA approval for Pemetrexed for Injection; stock gains ~1%

Published on: 1:12 pm

  • Zydus Lifesciences Ltd. (formerly Cadila Healthcare) informed the investors and exchanges that the company has received final approval from the United States Food and Drug Administration (USFDA) to market Pemetrexed for Injection, available in 100 mg/vial,500 mg/vial, and 1000 mg/vial Single-Dose Vials.
  • Pemetrexed will facilitate in curing of certain types of cancers such as lung cancer, and mesothelioma. It is a chemotherapy drug that functions by slowing or stopping the growth of cancer cells. The drug will be manufactured at Zydus’ Hospira facility. Read More

NALCO’s PAT zooms 2.7 times to Rs2,952 crore; logs revenue of Rs14,181 crore

Published on: 12:53 pm

  • National Aluminium Company Limited (NALCO) has announced that the company surpassed several milestones in its journey of business excellence during the financial year ended March 31, 2022.
  • The company has logged revenue of Rs14,181 crore during FY22. Read More

Q4FY22 Preview: JSW Steel: Revenues seen at Rs45,428 crore, PAT at Rs4,389 crore

Published on: 12:27 pm

  • Result date: 27th May, 2022
  • Recommendation: Sell
  • Target price: Rs514
  • Source: IIFL Research
  • JSW Steel is likely to post a healthy performance for the March 2022 quarter relative to the year-ago quarter. This would be on account of continued traction in sales volumes. The company's standalone sales volume could come in at 4.9 MT, up 20% over the year-ago quarter and 23% sequentially. Consequently, its consolidated sales could grow 69% over the year-ago quarter and 21% sequentially. Read more

Aurobindo Pharma’s step-down subsidiary bags USFDA Approval for Pemetrexed for Injection; stock adds

Published on: 12:14 pm

  • Aurobindo Pharma Limited announced that its wholly-owned subsidiary company, Eugia Pharma Specialties Limited, has received the final approval from the US Food & Drug Administration (USFDA) to manufacture and market Pemetrexed for Injection, 100 mg, 500mg, and 1000mg.
  • Pemetrexed for Injection USP, 100 mg/vial and 500 mg/vial, Single-Dose Vials, to be bioequivalent and therapeutically equivalent to the RLD, Alimta for Injection, 100 mg/vial and 500 mg/vial of Eli Lilly. The product is being launched immediately. The approved product has an estimated market size of US$ 1272 million for the twelve months ending March 2022, according to IQVIA. Read more

L&T EduTech inks pact with All India Council for Technical Education; stock slips ~2%

Published on: 11:44 am

  • L&T EduTech, the hybrid learning platform from Larsen & Toubro Limited, took significant steps in its endeavour to create workplace-ready talent by announcing the signing of an MoU with the All-India Council for Technical Education (AICTE) and the completion of abridged Industry oriented courses to students of Anna University, Chennai.
  • The learning modules offered by L&T EduTech will now be featured on the AICTE website and accessible to engineering students across the country to reinforce their conceptual learning and expose them to the tenets of professional practice from an industry standpoint to improve their employability quotient. Read more

Torrent Pharma climbs over 7% as board recommends bonus issue of 1:1

Published on: 11:03 am

  • Torrent Pharmaceuticals Limited’s counter was trading nearly 7% higher in today’s trade as the company announced a bonus issue in the ratio of 1:1.
  • In the same meeting, the company has recommended a dividend of Rs23 per equity share of Rs5 each. Read more

CARE reaffirms credit rating of Network 18’s bank facilities worth Rs1,000 crore; stock tumbles ~6%

Published on: 10:46 am

  • Network 18 Media & Investments Limited has informed that CARE Ratings Limited, the Credit Rating Agency, has reaffirmed the credit rating of the company’s bank facilities.
  • The rating agency has reaffirmed ‘CARE AAA’ rating for the company’s long-term facilities. It has given a ‘Stable’ outlook for the same.
  • CARE has reaffirmed the short-term ratings at ‘CARE A1+’. Read more

Bata India declares dividend of Rs54.50 per share; stock slips over 1%

Published on: 10:23 am

  • Bata India Limited informed the investors and exchanges that the board at its meeting had recommended a Dividend of Rs54.5 (1090%) per equity share of Rs5 each fully paid-up of the Company.
  • Total dividend amount includes a one-time Special Dividend of Rs50.5 (1010%) per equity share of Rs5 each fully paid up of the Company, for the year ended March 31, 2022, for approval of the Members at the AGM. Read more

Xpro zooms ~5% on logging 82.30% growth in PAT for Q4FY22

Published on: 10:10 am

  • Xpro India Limited a diversified multi-divisional, multi-locational company with a strong brand equity and commitment to the polymer processing industry has announced its Audited Financial Results for the Quarter and year ended on March 31, 2022.
  • Company’s revenue stood at Rs142.80 crore for Q4FY22, as compared to Rs147.50 crore in Q4FY21, down by 3.2% yoy. Revenue for FY22 stood at Rs471.70 crore as compared to Rs373.40 crore in FY21, registering growth of 26.30% yoy. Read more

Market Opening Bells in green; Nifty Bank and metals above 1%

Published on: 9:39 am

  • Indian Markets opened in green after ending the previous day on a dim note. Sectoral indices Bank and Metal open nearly 1% higher. FMCG marked a slow entry, with all other indices trading in green.
  • During opening bells, Sensex was trading at 54,075.68 points, up by 201.58 points or 0.38% against its previous close. Nifty traded 79.30 points higher at 16,105.10 against its previous close. Read More

Indian markets may open on the positive note today

Published on: 8:58 am

  • IIndian markets are quite likely to start the day today on a high note. SGX Nifty too has begun the day in the green. 
  • US markets saw a comeback day yesterday as Federal Reserve’s minutes of the meeting show that rate hikes are likely to be made to ease inflation but focus will remain on growth too. Dow Jones gained almost 200 points. Nasdaq saw over 170 points rise as technology stocks rebounded. Bond yields eased to lowest in over 3 months to 2.75%. Read more

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