Latest News and Updates

14th Nov, 2022

Keystone Realtors IPO Day 1 subscription Live status

Published on: 4:11 pm

  • Keystone Realtors IPO with an issue size of Rs 635 Crore shows restrained response today. The offer is subscribed only 6% on the day one with 5,82,309 total bids received against 86,47,858 bids offered at 4.00 PM, as per BSE Data.
  • The company is selling its shares at a issue price of Rs 514-541 per share between November 14-16, with a lot size of 27 equity shares. The issue comprises of fresh equity shares worth Rs 560 and an offer-for-sale (OFS) of Rs 75 crore. Read more

Inox Green Energy Services subscribed 70% on Day 2

Published on: 3:55 pm

  • Inox Green Energy Services IPO of Rs 740 crore receives mild response from investors on day 2. The issue was subscribed 46% on Day 1. According to BSE data, investors made 4,67,21,280 bids out of 6,67,21,310 total bids at 3.40 PM on day 2.
  • The quota of retail bidders is subscribed by 2.25 time, NIIs by 0.17 times and QIBs by 0.47 times. The company is selling its shares at a range of Rs 61-65 per share between November 11-15, with a lot size of 230 equity shares. Read more

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Markets end the day in red

Published on: 3:45 pm

  • Indian markets had a range-bound day today. Markets ended the day in red. Nifty 50 ended, down by 20.55 points. Sensex ended, down by 170.89 points.
  • Top Gainers today were Hindalco, Apollo Hospitals and Tata Motors. Top Losers today were Dr Reddy's, Coal India, ITC. Read More

Fusion Microfinance IPO to list tomorrow

Published on: 3:27 pm

  • Following the allotment, The IPO of Fusion Microfinance will list on Tuesday, November 15, 2022. The response to the public issues worth Rs. 1,104 crores has been relatively moderate with 2.95 times subscription. The retail portion of Fusion Microfinance’s IPO was able to fetch only 0.51 times the subscription.
  • Fusion Microfinance receives a good response from Qualified Institutional Buyers (QIBs) category with subscription over 8 times. Read more

Vascon Engineers inks JV agreement for commercial project in Kharadi, Pune

Published on: 3:04 pm

  • Vascon Engineers Limited has entered into a Joint Development Agreement (JDA) on Monday.
  • Vascon has signed the JDA with Landowner to develop a commercial project at Kharadi a well-established and growing market of Eastern Pune. This project will offer approximately 2.15 Lakhs square feet of development area and will be developed as a Retail and office premises.
  • Vascon has already developed more than 15 lakh square feet residential project in Kharadi, and this project will significantly strengthen Vascon’s Commercial portfolio in Eastern Pune. Read More

Ambuja Cements' stock gained more than 4% today

Published on: 3:04 pm

  • On the BSE on Monday during the intra-day, Ambuja Cements shares rose 5% in a range-bound market, reaching an all-time high of Rs 586. On September 20, 2022, the shares of the Adani Group Company reached a high of Rs 585.45. This record has since been surpassed. S&P BSE Sensex was down 0.01 percent at 61,786 points at 2:19 PM, in contrast, and was down.
  • The stock has increased 17% in the last month due to management's anticipation that the recent drop in energy prices and the subsequent uptick in demand following the monsoon will boost the company in the upcoming quarters. Comparatively, throughout that time the benchmark index rose by 7%.
  • Ambuja Cements recorded a 94% decrease in its consolidated net profit for the July-September quarter (Q3CY22), to Rs 51.3 crore, as compared to Rs 891 crore reported the previous year. Additionally, the company's profit decreased 94% on a sequential basis from Rs 865 crore gained in the April-June period. Read More
 

Kaynes Technology IPO gets 8.82 times subscription application

Published on: 2:43 pm

  • Kaynes Technology India, an electronics manufacturer, saw a strong reaction to its initial public offering, with buyers purchasing 8.6 crore shares against a 1.04 crore offer and subscribing 8.82 times on November 14, the final day of bidding. Shares have been bid on by retail investors at a rate of 2.2 times the permitted quota, while the reserved amount for staff has been taken up seven times.
  • High-net-worth individuals purchased 9.83 times as much as qualified institutional buyers (17.82 times). Half of the offer has been set aside by the firm for qualified institutional buyers, followed by retail investors for 35% of the offer and non-institutional investors or high-net-worth individuals for 15% of the offer.
  • Through its public offering at the higher end of the price range of Rs. 559-587 per share, the electronics system design and manufacturing (ESDM) services company hopes to raise Rs. 857.8 crore. The offer consists of a new share issuance for 530 crore rupees and a sale offer for 327.8 crore rupees from promoter Ramesh Kunhikannan and investor Freny Firoze Irani. Read more

Easy Trip Planners achieves GBR of Rs3,641 crore for H1FY23

Published on: 2:33 pm

  • Easy Trip Planners Limited has released its results for the quarter ended 30th September 2022 to clock its highest-ever Gross Booking Revenue (GBR) in a quarter of ~ Rs2000 crore.
  • As a summary of an exceptional result, EaseMyTrip posted yet another quarter of sustained profits thereby continuing its track record of profitable journey of 14 years since inception. EaseMyTrip is India’s only listed OTA with ~1.1 crore users and have delivered profitable growth to all its stakeholders without investor funding since inception.
  • The company continue to remain a zero-debt company and is known for its several industry-first innovative services such as “Zero Convenience Fees”, “Full Refund on Medical Cases” to name a few. Read more

Hindalco's stock price up by more than 6% today

Published on: 2:17 pm

  • On November 14, Hindalco Industries' stock increased by 5% due to higher LME Aluminum pricing. The LME Aluminum price increased by 6% on Friday. The removal of some of the Covid restrictions in China and better-than-expected profitability for the quarter that ended September 2022 also helped the stock price rise.
  • Due to reduced aluminum prices and increased input costs, Hindalco Industries reported a 36 % dip in its consolidated net profit for the three months ended September 30, 2022, to Rs2,205 crore from Rs3,427 crore in the same period the previous year on November 11. Sequentially, the profit decreased 46% from Rs4,119 crore, which was the period of April through June, and was the most significant quarterly profit ever. Read more

Cochin Shipyard stock price up by more than 3% today

Published on: 2:03 pm

  • In Monday's intra-day session on the BSE, shares of Cochin Shipyard (CSL) reached a new high of Rs662.50, increasing by almost 4%. Even though the shipbuilding company revealed weaker-than-expected September quarter results, its stock price has increased 13% during the last two trading days (Q2FY23).
  • Due to the ship-building segment's subpar performance, the company's consolidated quarterly revenue fell by 1.9% yearly (YoY) to Rs 683. The revenue increased by 55% on a sequential basis. The segment's margin contraction in the ship-building industry was the leading cause of the 382 bps YoY fall in the earnings before interest, taxes, depreciation, and amortization (Ebitda) margin. At Rs 112.80 crore, the profit after tax was down 14% YoY but up 167% QoQ. Read more

Markets trade lower amid volatility; Sensex falls 100 pts while Nifty around 18,400

Published on: 2:00 pm

  • Domestic benchmark indices trading mixed after a gap-up opening on Monday. Both the Sensex and Nifty benchmarks are trading lower in the afternoon market session.
  • On the sectoral front, FMCG index underperformed by tumbling over 1.2% followed by media and pharma stocks plunging however IT and metal stock were trading higher by 1% each to drive the market sentiments. 
  • At around 2:00 PM, Sensex was trading at 61,665.84 lower by 129.2 points or 0.21%. Nifty 50 traded at 18,335.35 lower 14.35 points or 0.08% Read more

In early trade, gold prices remain unchanged

Published on: 1:16 pm

  • Early on Monday, gold prices were unchanged, with 10 grams of 22-carat gold trading at Rs 48,260, according to the GoodReturns website. Additionally, there was no change in the price of silver, which now costs Rs 61,700 for 1 kg. Twenty-four-karat gold was going for Rs 52,640 for ten grams. Ten grams of 22-carat gold cost Rs 48,360 in Delhi, Rs 48,290 in Bengaluru, and Rs 49,010 in Chennai, respectively.
  • The price of ten grams of 22-carat gold in Mumbai, which was trading at Rs 48,260, was comparable to that of gold in Kolkata and Hyderabad. Ten grams of 24-carat gold cost Rs 52,760 in Delhi, Rs 52,670 in Bengaluru, and Rs 53,470 in Chennai, respectively. Read more

Gravita India suffers fire accident at Mundra plant, Gujarat; Stock down 2%

Published on: 1:06 pm

  • Gravita India Limited has informed to the stock exchanges regarding fire incident at company's Mundra Plant, Gujarat.
  • According to the filing, a fire incident occurred on Sunday's evening at company's Mundra plant situated at Survey no.43.Near National highway no.8A, Patri Gundala road, Village Gundala, Taluka Mundra, Kutch (Gujarat).
  • The fire has been bought under control well in time and there is no loss or injury to human life. Read more

Sinclairs Hotels stock declines ~6% despite PAT jumps 628% yoy in Q2FY23

Published on: 12:33 pm

  • For the quarter ended September 30, 2022, Sinclairs Hotels Limited posted a Total Income of Rs962.51 lakh, a 60% increase over Rs602.81 lakh for the corresponding quarter in the previous year.
  • As per the filing, EBIDTA for the quarter stood at Rs328.12 lakh (Rs209.15 lakh) while Profit Before Tax stood at Rs190.39 lakh as against Rs59.30 lakh in the corresponding quarter of the previous year.
  • The Profit After Tax for the quarter increased by 628% to Rs155.92 lakh as against Rs21.43 lakh in the corresponding quarter in the previous year. Read more

Keystone Realtors IPO opens today, check live subscription on Day 1

Published on: 12:07 pm

  • Keystone Realtors, Parent company of Rustomjee Brand has opens today for public subscription and will be closing on November 16, 2022. The IPO price band is Rs 514-541 per share. Investors can apply in the IPO in a minimum lot size of 27 shares. The Mumbai-based realtor is raising Rs 560 crore via fresh issue, and Rs 75 crore through an offer for sale.
  • Check the subscription status of Keystone Realtors IPO in the table below:
  • Keystone Realtors Ltd IPO subscrition live status (11.51 AM on 14-11-2022) Read More

Inox Green Energy Services IPO Day 2 Subscription Status

Published on: 11:43 am

  • Inox Green Energy Services Limited launched its initial public offering (IPO) on Friday, November 11, 2022 and will be concluded on November 15, 2022. The price band will be fixed at Rs 61-65 per share and one can subscribe in a lot size of 230 shares. The issue was subscribed 46% on the first day of subscription on Friday.
  • The details of day 2 of subscription till 10 AM is provided in the table below:
  • Inox Green Energy Services Ltd IPO subscrition live status (10.09 AM on 14-11-2022) Read more

Mukesh Ambani interested in buying Liverpool F.C.

Published on: 11:17 am

  • Mukesh Ambani has entered the competition to purchase the prestigious English football team Liverpool FC.
  • Fenway Sports Group (FSG), the current owners of the English Premier League powerhouses, who purchased the Merseyside club in October 2010, have reportedly hired Goldman Sachs and Morgan Stanley to assist them in selling the club.
  • The FSG are prepared to sell the club for 4 billion British pounds, according to "The Mirror." Read More

Market forecast - What to expect this week?

Published on: 11:05 am

  • Indian equity markets may see a range-bound week. Data on inflation in October will have some impact on market movement. RBI Governor has said that he expects inflation in October to come down.  Foreign Portfolio Investors provided strong buying support to Indian equity markets last week. They may do so this week too.
  • FPI are now placing the bet that India will gain strongly, in the medium and long term,  from China's zero Covid policy. Foxconn is already shifting some of its i-Phone production from China to India because of this. Other manufacturers may soon follow suit if Chinese government continues with its intolerant and oppressive approach. Chinese Government yesterday gave some indication that it may relax its zero covid policy. The toll of this policy is becoming clear. In October, China's exports came down y-o-y by 0.3%. This is the first time that the country's exports have contracted, since May 2020. Its imports also came down in the month. Read more

LIC's stock price up by more than 5% today

Published on: 11:05 am

  • During Monday's intraday session on the BSE, shares of Life Insurance Corporation of India (LIC) rose 9% to Rs 682.70 amid high volume as the company reported an increase of 11 times in net profit to Rs 15,952 crore during the July-September (Q2) quarter of FY23. Due to a change in its accounting procedure, whereby it moved Rs 14,272 crore from the non-participatory account to the shareholders' account, the net profit doubled.
  • The S&P BSE Sensex was down 0.10 percent at 09:57 am, while LIC traded 6% higher at Rs 663.95 on the BSE. The number of shares traded on the counter more than tripled, with 4.8 million (approximately) moving between the NSE and BSE. Read more

Marico acquires additional stake of 3.48% in Apcos Naturals; Stock rises

Published on: 11:03 am

  • Marico Limited has informed to the exchanges regarding the strategic investment by the Company in Apcos Naturals Private Limited, an entity that owns the brand “Just Herbs”. Earlier, the Company had acquired 56.52% of the equity capital of Apcos Naturals.
  • As per the terms of the definitive agreements, the Company has now acquired an additional stake of 3.48% of the equity capital of Apcos Naturals, thereby increasing its equity stake to 60%.
  • Furthermore, according to the regulatory filing, Apcos Naturals being a subsidiary of the Company, the acquisition of additional stake is a related party transaction. Read more

Even, raises $15 million in funding

Published on: 10:56 am

  • Even, a Bangalore-based healthcare firm has received $15 million in funding, following a $5 million initial round. Even, a full-stack healthcare startup offers its members services like consultations and hospital stays.
  • Along with previous investors Khosla Ventures, Founders Fund, Lachy Groom, Nikesh Arora (CEO of Palo Alto Networks), Kunal Shah (CEO of CRED), and Tom Stafford, new investors Alpha Wave and Aspada (Lightrock) joined the round (partner at DST Global). Read More

Last day to subscribe Kaynes Technology India IPO

Published on: 10:28 am

  • Kaynes Technology India Ltd IPO opened for subscription on Thruday, 10th November and will be closing today, 14th November, 2022. The investors can apply in a minimum lot size of 25 shares at a price band of Rs 559-587 per share.
  • The IPO got subscribed 1.34 times at 10 AM on Thrusday, 14th November, 2022.
  • Kaynes Technology India IPO subscrition live status (10.09 AM on 14-11-2022) Read more

Alembic Pharma gets USFDA final approval for Cyclophosphamide Capsules

Published on: 10:20 am

  • Alembic Pharmaceuticals Limited on Monday has announced that it has received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Cyclophosphamide Capsules, 25 mg and 50 mg.
  • According to the press release, the approved ANDA is therapeutically equivalent to the reference listed drug product (RLD), Cyclophosphamide Capsules, 25 mg and 50 mg, of Hikma Pharmaceuticals USA Inc. Cyclophosphamide Capsules is an alkylating drug indicated for the treatment of malignant disease and minimal change nephrotic syndrome in pediatric patients. Refer to our label for full indication.
  • According to IQVIA, Cyclophosphamide Capsules, 25 mg and 50 mg, have an estimated market size of US$ 8 million for twelve months ending Sep 2022. Read more

Lentra secures $60 million in funding

Published on: 10:20 am

  • Lentra, a supplier of cloud-based lending software, has raised $60 million in new capital with the help of previous backers Bessemer Venture Partners and Susquehanna International Group (SIG) Venture Capital.
  • Citi Ventures also took part in the round.
  • The money would be used by the business to increase its presence in other markets, make acquisitions, and improve its products. Read more

Aurobindo Pharmaceuticals' stock price in red today

Published on: 9:56 am

  • In Monday's intraday session on the BSE, shares of Aurobindo Pharma fell 7% to a more than two-year low of Rs 457.20 after the firm released dismal financial results for the September quarter (Q2FY23). The drug manufacturer's shares fell to their lowest point since April 2020.
  • On a year-over-year (YoY) basis, the company's consolidated net profit for the second quarter of FY23 was 41% lower at Rs 409 crore. The company's operating revenue decreased 3.4% YoY to Rs 5,739 crore in Q2FY23 from Rs 5,942 crore in the same quarter last year. EBITDA margin decreased to 14.6% from 20%. Earnings before interest, taxes, depreciation, and amortization.
  • Following the arrest of P. Sarath Chandra Reddy, the drug business's full-time director and promoter group, the shares of the company has fallen 16% in the last three trading days. The arrest of Reddy, according to Aurobindo Pharma, has nothing to do with the business affairs of the organization or any of its affiliates. Read more
 

Tilaknagar Industries revenue rises 36.5% to Rs274.5 crore in Q2FY23

Published on: 9:51 am

  • Tilaknagar Industries Limited has reported a 22.8% increase in net profit at Rs13.88 crore in the quarter ended September 2022, up from Rs11.30 crore in the same period a year ago. 
  • The company registered a 36.5% jump in net revenue at Rs274.50 crore in the July-September quarter 2022 as against Rs201.11 crore in the corresponding quarter a year ago.
  • Renowned for manufacturing the famous ‘Mansion House’ brand, Tilaknagar Industries reported a 35% year-on-year volume growth. In the quarter ended September 2022, Tilaknagar Industries’ sales volumes increased to 24.3 lakh cases as against 18.1 lakh cases in the same period last year. The quarterly volumes are the company’s highest since FY14. Read more

Zomato to come up with new loyalty program

Published on: 9:49 am

  • Zomato, a food-tech platform, is developing a new "loyalty program" for meal delivery after recently discontinuing its Pro and Pro Plus membership programs.
  • Some Zomato users have also noticed a new feature on the app in which a consumer may purchase a box of six deliveries valid for a 30-day period for Rs95 (compared to Rs270 for six deliveries). Read More

Market trims gain with Nifty below 18,400; Auto, IT, metal stocks gain

Published on: 9:40 am

  • Equity benchmark indices opened flat with positive bias in the early trade on Monday amid mixed global cues. However, due to selling pressure being seen in Sun Pharma, Titan, HDFC have dragged the indices to trade lower.
  • At 9:35 AM, the Sensex was up 31.27 points or 0.05% at 61,826.31 and the Nifty was up 27.55 points or 0.15% at 18,377.25. 
  • Among sectoral front on the NSE, the Pharma index slipped over 1.5%, followed by media, PSU Banks, Banking however, buying witnessed in Auto, IT and metal index. Read more

Hindustan Global completes acquisition of NXTDIGITAL's Digital Media business in India

Published on: 9:19 am

  • Hinduja Global Solutions Ltd. (HGS) has announced that it has received the order from the Hon’ble National Company Law Tribunal (NCLT) approving and sanctioning the Scheme of Arrangement between NXTDIGITAL Limited and Hinduja Global Solutions Limited.
  • With this approval in place, NXTDIGITAL’s Digital Media business in India, including its assets, liabilities and investment in its subsidiaries, become part of HGS, effective February 1, 2022 (the Appointed Date as per the Scheme of Arrangement). This acquisition opens up a direct-to-consumer practice for HGS.
  • Partha DeSarkar, Executive Director and Group CEO of HGS said: “We’re very pleased with the addition of the NXTDIGITAL Digital Media portfolio to HGS. It opens up a new, fast-growing market opportunity while also expanding our presence in India. Their expertise in emerging technology areas like broadband-over-satellite, public Wi-Fi and satellite-based data analytics adds a different dimension to our core work in digital-led BPM. Read more

India Pesticides revenue rises 38.8% yoy to Rs253 crore in Q2FY23; Stock gains 1%

Published on: 9:18 am

  • India Pesticides Limited has announced its results for quarter and period ending September 30, 2022.
  • Consolidated Q2 FY23 Financial Highlights
  • Revenue Growth of 38.8% to Rs253 crore
  • EBITDA of Rs54.9 crore; EBITDA Margin of 21.7%
  • Net Profit Rs37.2 crore; Pat Margin of 14.7%
  • Technicals + APIs constitute 73% of total revenue Read more

PC Jeweller records domestic turnover of Rs321.53 crore in October 2022

Published on: 9:17 am

  • PC Jeweller Limited has informed to the exchanges regarding business update for the month of October 2022.
  • During the month, the Company recorded domestic turnover of Rs321.53 crore as compared to the turnover of Rs213.32 crore in the corresponding month of the previous year, indicating a growth of more than 50%.
  • "This growth in turnover shows that the Company has started recovering from the ill effects of Covid-19 pandemic and is firmly on the path of recovery", the company said. Read more

TARC stock plunges over 2% post Q2FY23 numbers

Published on: 9:16 am

  • TARC Limited has announced its H1 and Q2FY23 results. The Company has made significant development toward achieving robust growth in new sales bookings and targeted GDV addition for the current financial year.
  • Key highlights for H1FY23
  • New Sales bookings Rs117.45 crore
  • Compensation received from Government, Rs70.13 crore- due process initiated for enhanced amount
  • TARC Tripundra (near Pushpanjali Farms, South Delhi) launched on October 14, 2022 with estimated GDV of Rs900 crore
  • Patient capital of Rs1,330 crore received from Bain Capital in April 2022 through NCDs
  • Team strengthened further with senior hiring of Head of Sales and Marketing, Head of lnvestor Relations & Strategy and Head - Design & Architecture. Read more

Wipro appoints Ankush Saigal as Head, Telecom Industry Sector, Southeast Asia

Published on: 9:16 am

  • Wipro Limited has announced the appointment of Ankush Saigal as Head of Telecom Industry Sector, Southeast Asia.
  • Universal connectedness is driving dynamic transformation across the telecom industry in Southeast Asia. Telecom companies and Communications Service Providers (CSPs) are growing and expanding, as they continue to strengthen their underlying IT infrastructure to drive innovation.
  • Ankush will lead Wipro’s business growth in the telecom sector in Southeast Asia at a time when the overall telecom and CSP industry is looking to adopt an ecosystem play to reach greater heights and drive sustainable growth. He will also help clients accelerate their transformation journey and realize their growth ambitions by reimagining operating models and enhancing customer experience. Read more

Price of fuel on November 14th

Published on: 8:57 am

  • According to the most recent price notification released by fuel retailers, petrol and diesel prices were stable on November 14 across metro areas. 
  • Cost of Petrol and Diesel in cities
  • Delhi: Petrol Rs 96.72 and Diesel Rs 89.62
  • Mumbai: Petrol Rs 96.72 and Diesel Rs 94.27
  • Chennai: Petrol Rs 102.63 and Diesel Rs 94.24
  • Kolkata:  Petrol Rs Rs 106.03 and Diesel Rs 92.76 Read more

Markets may see a mixed day today

Published on: 8:53 am

  • Indian equity markets may see a mixed day today. After the stellar gains of Friday, there may be some profit booking today. Asian markets have opened on a mixed note. A Federal Reserve governor has said that the US central bank will not soften its fight against inflation. On Friday, foreign portfolio investors bought heavily in Indian equity markets. Stocks of Grasim, ONGC, Spicejet etc may see price movement. These company will declare their September quarter results today.
  • US markets ended on Friday, in Green. Dow Jones ended, up by 0.096%. Nasdaq ended, up by 1.88%. S&P 500 ended, up by 0.92 %. NYSE ended, up by 0.77%.
  • Asian markets have opened on a mixed note today. Nikkei is down by 0.64%. South Korean KOSPI is down by 0.0064%. Taiwan Index is up by 0.90%. Shanghai Index is up by 0.49%. Hang Sang is up by 1.87%. Read more

Select Citywalk valued at Rs 4000 - Rs 4500 crore

Published on: 8:31 am

  • According to news reports, terms for acquisition of Select City Walk have been finanlized. Nexus Malls, an arm of Blackstone, will acquire Select City Walk. 
  • The valuation of Select City alone could range from Rs4,000 to Rs4,500 crore. By the end of 2022, the firm plans to submit the DRHP, and out of the 12 million square feet that Select City operates, around 10 million square feet will be part of the REIT.
  • The Blackstone arm will have malls in every metro and mini metro after adding Select Citywalk, which has the highest sales per square foot in the nation. Nexus didn't have a mall in Delhi before. Read more

Payworld may enter data-based credit services business

Published on: 8:28 am

  • According to a senior corporate official who talked to PTI, Payworld, a fintech startup, intends to quadruple the gross transaction value on its platform to Rs22,000 crore in a year as a result of foraying into new markets like data-based credit services.
  • The corporation asserts that its current gross transaction value (GTV) is close to Rs11,000 crore.
  • Retailers can sell train tickets, Aadhaar-enabled payment services, mutual funds, insurance, FASTags, and other services on a platform provided by Payworld.
  • According to the report, the company is currently planning to start offering credit based on merchant transaction data and assisting rural areas with e-commerce. Read more

ONGC increasing use of Enhanced Oil Recovery technology

Published on: 8:26 am

  • The state-run business ONGC is placing its faith in enhanced oil recovery (EOR) technology, which has already helped it increase output from its aging onshore fields by 10% yearly.
  • By 2030, it hopes to have more than quadrupled the number of commercial EOR projects, an expenditure that might total hundreds of millions of euros.
  • The leading oil and gas producer in the nation has been working hard to increase production for years, but most of its producing areas have reached maturity and are now in a phase of natural decline. Using EOR techniques, which involve injecting chemicals, gas, or steam into the fields to force trapped oil out of the reservoir, it is hoping to recover more from its declining fields. Read more

Keystone Realtors' IPO to open today

Published on: 8:22 am

  • Mumbai-based real estate company Keystone Realtors will launch its initial public offering on Monday in order to collect Rs635 crore. Under the name "Rustomjee," the business is a real estate developer.
  • When approached, Boman Rustom Irani, CMD of Keystone Realtors Ltd, told ET: "Trust and teamwork have been the foundations of our business. I'm excited to see what our capable and motivated team can accomplish going ahead to advance Rustomjee."
  • Keystone Realtors has sought to raise Rs635 crore through the IPO, which entails a fresh issue of equity shares with a maximum value of Rs560 crore and an Offer-For-Sale (OFS) by promoters for Rs75 crore.
  • The share price range has been set at Rs514-541. The issue's public subscription period will start on November 14 and end on November 16. Read More

Infiniti Retail increases equity capital by Rs 1000 crore

Published on: 8:19 am

  • According to the most recent regulatory filings, Tata-owned Infiniti Retail, which owns the Croma retail chain and online store, is increasing its authorized share capital to Rs4,000 crore by injecting Rs1,000 crore in the form of equity shares "to support the expansion plans and digital transformation of the company."
  • The super app Tata Neu is only one of the online venues which the Tata's use to sell goods and smartphones. In reality, business leaders claim that Croma has been continually losing money in order to offer discounts, which are currently among the sharpest in the sector.
  • "Rs500 crore is expected immediately and the remainder in the next financial year," Infiniti Retail stated in papers with the Registrar of Companies (RoC). It stated that as of right now, out of the Rs2,000 crore approved equity share capital, Rs1,790 crore in subscribed and paid-up equity share capital. Read more

India and EU to focus on goods and investments during FTA talks

Published on: 8:15 am

  • During the third round of free trade agreement (FTA) negotiations, which will start in Delhi on November 28, India and the European Union are likely to talk about issues relating to trade in goods and investments.
  • After a nine-year break, the two sides started FTA talks again. Separate talks for an Investment Protection Agreement and an Agreement on Geographical Indications were also started in June.
  • According to news reports, the EU has proposed an anti-fraud clause in the goods chapter that deals with preventing, detecting, and combating violations or circumventions of customs law related to preferential treatment. Read more

Bank of Baroda lowers its benchmark home loan rate by 25 basis points to 8.25%

Published on: 8:13 am

  • On Friday, the government-owned Bank of Baroda dropped its house loan interest rates by 25 basis points to 8.25% and eliminated the processing fee as part of a limited-time promotion.
  • BoB's rate, which is 8.25%, is lower than that of the segment leaders SBI and HDFC, whose new pricing is 8.40% and will be in effect till the end of December.
  • According to BoB, the new rate will be in effect beginning on Monday and last through the end of December. Read more

Bank of Maharashtra sees gross loan growth of 28.62% in September quarter

Published on: 8:10 am

  • The Bank of Maharashtra (BoM) outperformed other public sector lenders in terms of percentage loan growth during the second quarter of 2022–2023.
  • The institution with its headquarters in Pune experienced a 28.62% increase in gross advances at the end of September 2022, amounting to Rs1,48,216 crore, according to quarterly data released by public sector banks.
  • The second-place finisher, Union Bank of India, had its revenue rise by 21.54% to Rs7,52,469 crore. State Bank of India, the biggest lender in the country, came in third with an 18.15% growth in gross advances. Read more

Power sector employees may organize rally against proposed reform on 23rd November

Published on: 8:07 am

  • The All India Power Engineers Federation (AIPEF) has announced that this month, engineers and workers in the power sector will demonstrate against the Electricity (Amendment) Bill 2022.
  • By giving customers the choice to select from a variety of service providers in a given area, the Electricity Amendment Bill 2022 aims to foster competition in the power distribution sector.
  • On August 8, 2022, it was introduced in the Lok Sabha and referred to the Parliamentary Standing Committee on Energy for review. Read more

Global crude oil news

Published on: 8:04 am

  • As China relaxed some of its tight COVID-19 regulations on Monday, oil prices increased by about 1%, extending gains from the previous day and raising expectations for a rebound in economic activity and demand in the world's largest crude importer.
  • After closing up 1.1% on Friday, Brent crude futures increased 87 cents, or 0.9%, to $96.86 a barrel.
  • After ending Friday's session 2.9% higher, U.S. West Texas Intermediate oil futures were at $89.76 per barrel, up 80 cents or 0.9%.
  • After China's National Health Commission modified its COVID prevention and control methods on Friday, commodity prices increased. But over the weekend, COVID cases increased in China. Read More

Top 10 stocks for today – 14th November 2022

Published on: 7:50 am

  • The Singapore Exchange's Nifty futures traded 38.5 points, or 0.21%, higher at 18,474.5, indicating that the stock markets may have a good start on Monday. The following 10 stocks may show price movement in today's market. To check more hot stocks, click at https://www.indiainfoline.com/markets/hot-stocks
  • Life Insurance Corporation:
  • In the September quarter, the state-owned insurance recorded a multi-fold increase in net profit to Rs 15,952 crore, helped by gains from its investments.
  • Godrej Properties:
  • With an offer of Rs 377 crore, the real estate company claimed to be the top bidder for two neighbouring Noida property pieces. Read More

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