Latest News and Updates

23rd Nov, 2022

Inox Green closes over 9% lower on debut day

Published on: 4:00 pm

  • On Wednesday, Inox Green Energy Services closes at Rs59.10 per share lower by Rs5.90 or 9.08% on the NSE.
  • The stock made a discounted debut on the stock exchanges and listed at discount of 7.69% to its issue price of Rs65 per share.
  • During today's morning deals, on the BSE, the shares of Inox Green were trading at Rs62.30 per share lower by 4.15% to its issue price.
  • The price band of the offering was fixed in the range of Rs61 per equity share to Rs 65 per equity share. Read more

Markets see selling in last half-hour

Published on: 3:47 pm

  • Indian equity markets ended the day in Green. Last half hour saw some sharp selling too. Nifty 50 ended, up by 23.05 points. Sensex ended, up by 91.62 points.
  • Top Gainers today were Apollo Hospitals, HDFC Life and JSW Steel. Top Losers were Adani Enterprises, Adani Ports, Hero Motors. Read more

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RMC Switchgears receives new order worth Rs14.24 crore from Eastern Power

Published on: 3:13 pm

  • RMC Switchgears Limited informed that it has received a Letter of Award of Rs14.24 crore bestowed upon the company by the Government of Andhra Pradesh.
  • The company has received an order for the Eastern Power Distribution Company of AP Limited.
  • The company has received the order for the supply of various types of Feeder and Service pillar boxes. It plans to complete the order on or before May 10, 2023. Read more

Zydus Lifesciences bags final USFDA approval for Famotidine Injection

Published on: 2:58 pm

  • The United States Food and Drug Administration (USFDA) has given Zydus Lifesciences Limited (formerly Cadila Healthcare Limited) final approval to market Famotidine Injection USP, 40 mg/4 mL (10 mg/mL) and 200 mg/20 mL (10 mg/mL) multiple-dose vials.
  • Famotidine Injection is used to treat stomach and intestine ulcers, as well as to keep intestinal ulcers from returning after they have healed. This medication is also used to treat conditions affecting the stomach and throat (oesophagus), such as erosive esophagitis, gastroesophageal reflux disease (GERD), and Zollinger-Ellison syndrome.
  • According to IQVIA data, Famotidine Injection had annual sales of USD 1.9 million in the United States (IQVIA MAT Sep 2022). The drug will be produced at the group's injectable manufacturing facility in Jarod, India, near Vadodara. Read more

Mahindra Finance's Quiklyz signs MoUs to deliver 1000 EVs

Published on: 2:40 pm

  • Quiklyz, the vehicle leasing and subscription business of Mahindra & Mahindra Financial Services Limited (Mahindra Finance/ MMFSL), has signed MOUs with prominent Last Mile Mobility players for leasing over 1000 electric 3-wheelers (3W).
  • Quiklyz plans to deliver these leased vehicles over the next six months, spread across India deliveries, opening up newer opportunities in EV leasing.
  • The MOUs have been signed up with Mahindra Logistics Limited, MoEVing Urban Technologies Pvt Ltd., Creativity at Best Technologies Pvt. Ltd., Magenta EV Solutions Pvt Ltd. and, Terrago Logistics Pvt Ltd. Read more

TCS extends sponsorship of Standard Chartered Singapore Marathon till 2026

Published on: 2:35 pm

  • Tata Consultancy Services has announced a four-year extension of its sponsorship of the Standard Chartered Singapore Marathon (SCSM) Corporate Challenge until 2026.
  • This collaboration also marks the start of TCS' four-year association as the SCSM's official mobile app partner beginning in 2022, with the goal of creating truly immersive and community-focused digital race experiences for runners and fans.
  • SCSM will return to Singapore's streets from December 2 to 4, serving as a hub of community engagement to end the year on a high and healthy note. TCS' global focus on encouraging healthy lifestyles and community bonding through sports is reflected in this collaboration. Read more

Hi-Tech Pipes' stock price up by more than 6% today

Published on: 2:05 pm

  • After the firm revealed that the board will meet on November 24 to discuss raising money through a preferential offer, Hi-Tech Pipes' shares jumped sharply to reach a record high level of Rs 739.95 on the BSE on Tuesday.
  • On Thursday, November 24, 2022, the board of directors of the company will meet to discuss, approve, or recommend fundraising through the preferential issue of security(ies) to those who fall under the promoter/promoter group/non promoter group categories, Hi-Tech Pipes said in a regulatory filing on Monday after market hours. Read more

Markets in the green as Sensex jumps over 100 points

Published on: 2:00 pm

  • Domestic benchmark indices trading in the green on Wednesday's market session. Both the Sensex and Nifty benchmarks had begun its fast rally with PSU Banks, banking stocks. 
  • On the sectoral front PSU Bank index outperforming by rising over 1% with auto, IT, pharma index on marginal upside.
  • At around 2:00 PM, Sensex was trading at 61,537.96 higher by 119 points or 0.19%. Nifty 50 traded at 18,269.65 higher 25.45 points or 0.14%
  • Top Bulls on NSE are: Apollo Hospitals (+2.4%), JSW Steel (+1.3%), Bajaj Finance (+1.27%) supported by SBI (+1.27%) and BPCL (+1.16%). Meanwhile, top losers on NSE are: Adani Enterprises (-2.37%), Power Grid (-.12%), Hero MotoCorp (-0.91%), SBI Life (-0.57%) and Adani Ports (-0.52%). Read more

Easy Trip Planners’ board approves allotment of 130.37 crore bonus shares; stock jumps ~2%

Published on: 1:58 pm

  • Easy Trip Planners Limited informed that the board of directors of the company has approved the allotment of 1,30,37,40,000 equity shares of the face value of Rs1 each as fully-paid up bonus equity shares, in its meeting held on November 23, 2022.
  • The company will issue shares in the ratio of 3:1, i.e., 3 fully-paid up equity shares will be issued for every 1 equity share held in the company.
  • The shares will be issued to the members whose names appeared in the Register of Members/List of beneficial owners as on November 22, 2022, being the record date fixed for that purpose. Read more

Kaynes Technology debuts with a premium

Published on: 1:43 pm

  • During their debut on the public exchange on Tuesday, shares of Kaynes Technology India increased by almost 18%. Shares of Electronics System Design and Manufacturing (ESDM) closed at Rs 690, up Rs 103 or 18% from the share's issue price of Rs 587. On the BSE, the share price fluctuated between Rs 675 and Rs 787.
  • The promising response to Kaynes' Rs 858-crore IPO led to its positive listing. There were over 30 subscriptions for the first offering. Kaynes raised 530 crore rupees through the IPO in new funding. This money will go toward paying off debt and growing the company's manufacturing space. The company had a value of almost Rs 4,000 crore at the most recent closure. On sales of Rs 706 crore, Kaynes had profits of Rs 41.7 crore in FY22. Read More

KPIT Technologies becomes strategic technology partner for Renault Group; stock soars ~6%

Published on: 1:42 pm

  • KPIT Technologies, one of the largest software integration partners in the automotive and mobility industries, announced that it has been chosen as a strategic software scaling partner by Renault Group for next-generation SDV programs.
  • Renault Group is investing heavily and forming strategic alliances to create an industry-leading SDV platform. This platform will drive Renault Group's global growth in the coming decades by providing an unparalleled experience to end users and enabling monetization throughout the life of the vehicle.
  • KPIT's two decades of experience in automotive and mobility software, cross-domain competencies, global scale, and ecosystem of alliance partners, as well as expertise in developing SDV roadmaps for several industry leaders, place them in the best position to contribute to the Renault Group's vision. Read more

Dynacons wins next-gen cyber security operations centre project worth Rs14.07 crore

Published on: 1:16 pm

  • Dynacon's Systems & Solutions Ltd has won the prestigious Next-Gen Cyber Security Operations Centre project worth Rs14.07 crore, for the design, setup, installation, testing, and support of Cyber Security Solution for Rajkot Smart City project from Bharat Sanchar Nigam Limited. The duration of the project is 5 years.
  • ACSOC (Cyber Security Operation Center) is the Nextgen Cyber Monitoring solution responsible for recording, managing, and analyzing the organization's security events using Niche Technologies like SIEM, HSM, PKI & DDOS. Read More

Parle Products surpasses $2 billion revenue mark in FY22

Published on: 12:50 pm

  • Parle Products, which sells brands such as Parle G, Monaco, and Melody, crossed $2 billion in annual revenue in FY22, becoming India's first packaged food company to do so.
  • During the fiscal year ended March 31, 2022, the biscuit maker increased net sales by 9% to Rs16,202 crore, while profit fell by 81% to Rs256 crore. According to the company's filing with the Registrar of Companies, it had sales of Rs14,923 crore and a profit of Rs1,366 crore a year ago.
  • Parle Products stated that its value-for-money strategy, particularly for Parle G, has been critical in consistently growing the brand over the years, especially during inflationary times when consumers are cutting back on spending and opting for smaller packs. Read more

PSU Bank Index rises by 73% from June lows

Published on: 11:56 am

  • State-owned bank shares kept moving upward as the Nifty PSU Bank index reached a fresh high of 3,952.60 on Tuesday during the intraday session. The index has increased 73% from its 52-week low of 2,283.85, which came on June 20, due to solid bank earnings in the quarter from July to September (Q2FY23).
  • It has increased 31% over the past month compared to the Nifty '50s 2.8% gain. While this time, the stock prices of UCO Bank, Union Bank of India (UBI), and Bank of India have increased from 54% to 65%. In the past month, the Bank of Maharashtra, Punjab & Sind Bank, Central Bank, and Indian Overseas Bank all saw gains of between 31% and 40%. Read more

Nykaa’s shares slips ~2% as CFO Arvind Agarwal steps down

Published on: 11:50 am

  • Arvind Agarwal, the Chief Financial Officer (CFO) of FSN E-Commerce Ventures (Nykaa), which operates the fashion and beauty platform Nykaa, tendered his resignation.
  • "We would like to inform you that Arvind Agarwal, Chief Financial Officer of FSN E-Commerce Ventures Limited, will be vacating his office from the company on November 25, 2022, at the close of business hours. Agarwal wishes to pursue other opportunities in the digital economy and start-up space," Nykaa said in a BSE filing. Read more

Evive enters license agreement with Acrotech Biopharma to commercialize Ryzneuta in US

Published on: 11:32 am

  • Evive Biotech (Evive), a global biopharmaceutical company devoted to developing novel biologic therapies and a subsidiary of Yifan Pharmaceutical Co. Ltd., has announced today that it has entered into a license agreement with Acrotech Biopharma (Acrotech), a New Jersey-based and wholly-owned subsidiary of Aurobindo Pharma USA Inc., to commercialize Ryzneuta (Efbemalenograstim alfa) in the US.
  • Ryzneuta is a novel dimeric G-CSF long-acting fusion protein without pegylation. The Biologics License Application (BLA) of Ryzneuta is currently under late-stage review by the US FDA for Chemotherapy-Induced Neutropenia (CIN).
  • “Despite the current options, CIN remains a significant clinical condition for most cancer patients, creating the need for more potent and convenient treatment. Due to its unique molecular structure, Ryzneuta may possess stronger G-CSF receptor activation properties. Read more

Adani Enterprises mulls $1.8 billion fundraise to fuel expansion plan

Published on: 11:28 am

  • Adani Enterprises, the flagship company of billionaire Gautam Adani, plans to issue another public offering or preferential allotment issue, including a QIP, to fund its ambitious expansion plan.
  • The company informed the stock exchanges that a board meeting is scheduled to be held on Friday, November 25, in Ahmedabad to consider and approve the fundraising proposal.
  • The company plans to raise funds either by further public offering, preferential allotment (including a qualified institutions placement or any other permissible mode), and/or a combination thereof as deemed appropriate, through the issuance of equity shares or any other eligible securities. Read More

Since its IPO, Paytm has lost more than Rs 1 lakh crore in market capitalization

Published on: 11:05 am

  • One97 Communications, the company that runs the Paytm payment network, had its shares hit a record intraday low of Rs. 476.65 before closing at Rs. 477.1 on Tuesday, down more than 11% from their previous close. At Tuesday's closing price, the company's market capitalization (m-cap) was Rs 30,971 crore, a decrease of approximately Rs 1 lakh crore from the time of the offering.
  • After Macquarie's note from Monday warned that Paytm may face a "market share risk" from Jio Financial Services, the company's shares plummeted on Tuesday. In the future, Jio Financial will be moderately competitive in the secured lending market in addition to being able to offer competitive rates in the merchant lending and digital unsecured lending industries, according to the report. Additionally, the company's lock-in period expired on November 15 and 86% of its shares were made available for trading. According to data from BSE, the share price has decreased by 24% since that time. Read more

Infosys collaborates with Envision AESC to digitize, automate its EV battery plants

Published on: 10:46 am

  • Infosys Limited announced a strategic partnership with Envision AESC, a global leader in battery technology.
  • Through this collaboration, Infosys will assist in the development of a cloud-based platform to digitise and automate manual processes at Envision AESC's EV battery manufacturing plants.
  • The cloud-based platform's initial goal is to digitise key processes that require a high level of human intervention. Through data-driven reporting and analytics tools, the cloud-based platform aims to improve productivity, increase end-to-end visibility, and simplify quality monitoring in the long run. Read more

Bajaj Finance raises rate on FDs by 25 bps

Published on: 10:45 am

  • With effect from November 22, Bajaj Finance has hiked the interest rates on its fixed deposits (FDs) by 25 basis points (bps) for terms of 12 to 23 months. New deposits and renewals of maturing deposits up to Rs 5 crore are both subject to enhanced rates.
  • For tenures between 12 and 23 months, depositors can earn interest rates of 6.80 %; for tenures between 24 and 35 months, the interest rate will stay 7.25 %; and for tenures between 36 and 60 months, the interest rate will remain 7.50 %. Additionally, a new 39-month fixed-rate loan with an interest rate of 7.60% has been introduced. Ujjivan Small Finance, situated in Bengaluru, has also raised interest rates on its FD programs by up to 80 basis points. For a 560-day term, it is offering a peak interest rate of 8%. Read more

Siemens reports 23% yoy increase to Rs392 crore in PAT during Q4FY22

Published on: 10:43 am

  • For the fourth quarter of Financial Year 2022 ended September 30, 2022, Siemens Limited registered a Revenue from continuing operations of Rs4,237 crore, an 11% increase over the same quarter in the preceding year.
  • In a regulatory filing, the  company informed that the new orders from continuing operations stood at Rs4,009 crore, registering a 25% increase over the same period last year. The Company’s Order Backlog from continuing operations is Rs17,183 crore. Profit after Tax from continuing operations of Rs392 crore, increased by 23% over the same period last year.
  • For the Financial Year 2022, Siemens Limited reported an increase of 43% in New Orders, 18% in Revenue and 20% in Profit after Tax from continuing operations over the previous financial year. Read more

Vodafone Idea gets shareholders’ nod to issue debentures worth Rs1,600 crore to ATC Telecom

Published on: 10:22 am

  • According to a regulatory filing, Vodafone Idea Limited's sharholders have approved the issue of preferential shares worth Rs1,600 crore to ATC Telecom Infrastructure.
  • The board of Vodafone Idea Limited has approved settling Rs1,600 crore in dues to equipment vendor ATC Telecom by converting the amount into equity if the amount is not paid within 18 months.
  • According to the scrutiniser's report, 99.99% of shareholders voted in favour of the "special resolution for the issue of securities on a preferential basis" during the Extraordinary General Meeting (EGM) held on November 21. Read more

Inox Green Energy Services debuts at 7% discount to issue price

Published on: 10:11 am

  • Inox Green Energy Services on Wednesday made a discounted debut on the stock exchanges. The stock listed at discount of 7.69% to its issue price of Rs65 per share. The stock started its trading at Rs60 on the NSE and Rs60.50 per share on the BSE.
  • At around 10:12 AM, on the BSE, the shares of Inox Green were trading at Rs62.30 per share lower by 4.15% to its issue price.
  • The price band of the offering was fixed in the range of Rs61 per equity share to Rs 65 per equity share. Read more

Akasa Air to start Vizag-Bengaluru flight from December 10th

Published on: 10:02 am

  • The domestic airline Akasa Air has announced that it would begin offering flights from Bengaluru to Visakhapatnam on December 10. This will be the company's tenth location since its founding in August of this year.
  • The Mumbai-based airline has announced that starting on November 26, there would be two daily flights between Pune and Bengaluru, and starting on December 10, there will be a third frequency on the route.
  • Due to increased demand, the airline will start operating a third frequency between Bengaluru and Ahmedabad starting on December 17, according to Akasa. Read More

Roto Pumps secures new order worth Rs1.84 crore from Suez India; stock adds ~1%

Published on: 9:52 am

  • Roto Pumps Limited informed that it has received a new purchase order from Suez India Pvt. Ltd. The order received is for the supply of 25 No. of Screw Pumps within 12 weeks from the date of manufacturing clearance.
  • The company stated that supply is to be completed in tranches by the fourth quarter of the current financial year.
  • The contract received is for a consideration of Rs1.84 crore. Read more

Government partners with CSE to develop EV battery production

Published on: 9:51 am

  • A platform that will support the development of new electric vehicle (EV) batteries to meet Indian criteria has been developed in partnership between the Centre’s Department of Science and Technology (DST) and the environmental think tank Centre for Science and Environment (CSE).
  • A white paper outlining a development path for new battery technologies in India will be written. The CSE stated in a statement on Tuesday that this would be followed by the establishment of an expert-industry forum or platform to facilitate this process.
  • This cooperative project was recently launched with a round table discussion on regionally relevant EV batteries that are safe, long-lasting, and efficient within the limitations of a hot, humid tropical climate. Read More

Gold and Silver prices rose on Tuesday

Published on: 9:36 am

  • Reports claim that due to the strengthening of the currency, the price of gold in the national capital climbed by Rs 30 on Tuesday to Rs 52,731 per 10 kg. In the preceding trade, the cost of 10 grams of yellow gold was Rs 52,701.
  • Additionally, the price of a kilogram of silver rose by Rs 856 to Rs 61,518. Read More

Markets trade higher; Sensex nears 61,800, Nifty 50 around 18,300

Published on: 9:34 am

  • Indian markets traded in the green led by broad-based buying on Wednesday's opening bell. Except for PSU Bank and FMCG, all other sectoral indices witnessed upside. The domestic equities followed the positive trend in Asian cues amid major economic developments. However, the tone of the markets back at home is seen as volatile. PSU Bank has underperformed, while auto and banking stocks also witnessed substantial gains. India's volatility index has nosedived nearly 7.5%.
  • At around 9:34 AM, Sensex was trading at 61,591.80 higher by 172.84 points or 0.28%. The index was near the day's high of 61,780.90.
  • Nifty 50 traded above 59.20 points or 0.28% at 18,294.40. The index was also near the day's high of 18,325.40. Read more

Airtel’s Nxtra commences construction of hyper-scale data centre in Kolkata; plans to infuse Rs600 c

Published on: 9:24 am

  • Nxtra Data Limited, a subsidiary of Bharti Airtel, has started construction of its new hyper-scale data centre in Kolkata. The company will invest Rs600 crore in the development of East India's largest data centre, which will serve the underserved markets of the east and north-east regions, as well as the SAARC countries, and will meet the growing needs of enterprises and global cloud players.
  • The 25 MW facility will be built in Kolkata's New Town and will be fully operational by 2024. In keeping with the company's environmental commitment and goal of reaching net zero by 2031, the new centre will be a green facility that will use clean energy to power its operations, said the company on Tuesday. Read more

DCW announces capacity expansion of CPVC & debottlenecking SIOP; stock spurts ~5%

Published on: 9:19 am

  • DCW Limited, a leading specialty chemical company in India, intends to expand its CPVC capacity by 10KT. The company also intends to increase the capacity utilisation of its SIOP plant to 100% with some line balancing Capex in order to generate an additional 10KT of production per year.
  • According to the company's estimates, the CPVC project will be completed in the second half of FY24, and SIOP de-bottlenecking will be completed by Q1 of FY24.
  • “We are also committed to expanding our specialty portfolio in the future, and our strategy and R&D teams are already focused on the next growth drivers and identifying products relating to chlorine and other related chemistry to add/expand to our portfolio,” commented Vivek Jain, Managing Director, DCW Limited. Read more

Global Offshore Services updates on sale of vessel M V Lachung

Published on: 9:18 am

  • Global Offshore Services Ltd has informed that pursuant to an agreement with the prospective Buyer and a resolution passed by the Board of Directors at their meeting held on November 10, 2021, the Company has sold its vessel M.V.Lachung, to Huashun Shipping (Liberia) Inc on 224 November, 2022 for a price of USD 4,471,300.00.
  • The Company said that the said Buyer is in no way related to the Company or its Promoters / Promoter Group/ Group Companies and therefore, the transaction does not fall under the purview of a related party transaction.
  • The said Vessel contributed to 4.85 % of the Company’s turnover for the year ended March 31, 2022, the company further added. Read more

BHEL pays final dividend worth Rs88 crore for FY2021-22 to Central Governemnt

Published on: 9:17 am

  • Bharat Heavy Electricals Limited (BHEL) informed to the exchanges that it has paid a final dividend of Rs88 crore for the year 2021-22 to the Govt. of India.
  • To this effect, a cheque towards the final dividend on the equity (63.17%) held by the Government of India, was presented to Dr. Mahendra Nath Pandey, Hon’ble Union Minister of Heavy Industries by Dr. Nalin Shinghal, Chairman and Managing Director, BHEL, in the presence of Sh. Kamran Rizvi, Secretary (HI), the company said.
  • Directors on the board of BHEL and senior officials of the Ministry of Heavy Industries were also present on this occasion. Read More

Ind Ra affirms GHCL credit rating at 'IND AA-' with Stable outlook

Published on: 9:17 am

  • GHCL has informed that on November 22, 2022, India Ratings & Research has affirmed GHCL Limited's Long-Term Issuer Rating to 'IND AA- Stable'.
  • Further, it is informed that said Credit Rating Agency, has also affirmed 'IND A1+' to GHCL Limited for issuance of Commercial Paper (CP) of Rs1000 million, which shall be carved out of existing working capital facilities.
  • According to the rating rationale report, Ind-Ra has continued to take a consolidated view of GHCL and its wholly-owned subsidiaries - Grace Home Fashion LLC and Dan River Properties LLC, owing to the strong operating and strategic linkages among the entities. Read more

RMC Switchgears bags order of Rs14.24 crore; Stock jumps 3%

Published on: 9:17 am

  • RMC Switchgears Limited has announced the receipt of Letter of Award of Rs14,24,48,586/- (Rupees Fourteen Crores Twenty Four Lakhs Forty Eight Thousand Five Hundred Eighty Six only).
  • As per the regulatory filing, the company has secured the order by the Government of Andhra Pradesh.
  • The project is planned to be completed within the next quarter, the company said on Tuesday. Read more

Minda Corporation inks technology agreement with LocoNav India for web and android platform

Published on: 9:16 am

  • Minda Corporation Limited, the flagship company of Spark Minda group has announced the Technology License Agreement (TLA) with LocoNav for white-labelling of Telematics Software for both Web & Android/iOS platforms on November 21, 2022.
  • Spark Minda will integrate LocoNav developed software with its inhouse developed telematic devices to provide OEMs with a complete solution. This exclusive collaboration will enable Spark Minda to be ahead of technology curve with customised solutions to suit Indian OEM’s. Read more

Vedanta Board approves third interim dividend of Rs17.50; Stock trades higher

Published on: 9:16 am

  • The Board of Directors of Vedanta Ltd through resolution passed by circulation on Tuesday, November 22, 2022 have approved Third Interim Dividend of Rs17.50 per equity share.
  • As per the filing, the board has approved the dividend of Rs17.50 per equity share i.e. 1750% on face value of Re1/- per share for the Financial Year 2022-23 amounting to Rs6,505 crore.
  • The record date for the purpose of payment of dividend is Wednesday, November 30, 2022. The interim dividend will be paid within stipulated timelines as prescribed under law, the company said. Read more

Vedanta announces third interim dividend of Rs 17.5 per equity share

Published on: 9:16 am

  • Vedanta, a significant player in the mining and metals industries, declared a third interim dividend of Rs17.5 per equity share. The dividend payment, whose record date has been set for November 30, had been authorized by the company's board of directors.The company run by Anil Agarwal has so far declared three rounds of dividends for the fiscal year 2022–2023 (FY23), bringing its total dividend payout for the year to Rs25,465 crore. According to data provided by BS Research Bureau, this is higher than the total dividend paid by the business in FY22, which was Rs16,740 crore. Read more

Wipro unveils strategic cybersecurity consulting offering in Europe

Published on: 9:15 am

  • Wipro Limited has announced the launch of a strategic cybersecurity consulting service in Europe. The announcement follows a series of consulting acquisitions—Edgile, Capco, and Ampion—and is part of the firm's vision to build a global cybersecurity consulting offering to assist clients in staying ahead of a regulatory environment and dynamic threat.
  • Wipro CRS Europe will offer the new consulting capability, which will complement Wipro's existing cybersecurity services and allow clients to access its full set of capabilities, from strategy and implementation to managed services. Read more

NBFC’s assets cross Rs 54 lakh crore mark

Published on: 9:06 am

  • According to Union Minister Bhagwat Krishanrao Karad on Tuesday, the asset base of non-banking financial businesses has surpassed Rs 54 lakh crore as of March 2022, accounting for close to a quarter of the commercial banking sector's balance sheet.
  • It should be recalled that the shadow banking sector has been in a protracted crisis since the collapse of the two largest non-banking financial companies (NBFCs), IL&FS and Dewan Housing Finance Ltd (DHFL).
  • As banks avoided them on the one hand and the RBI continued to tighten the regulatory noose around them, this crisis was more about their capacity to mop up lendable money. As a result, since November 2021, they have been on a level with banks in terms of bad loan recognition. Read more

Anti-trust lawsuit filed against Dr Reddy's in United States

Published on: 8:58 am

  • On Tuesday, an antitrust lawsuit was filed in the US against a number of generic pharmaceutical companies, including Dr Reddy's Laboratories Ltd., Celgene, and Bristol-Myers Squibb.
  • Dr Reddy's Laboratories Ltd. reported in a regulatory filing that it and other generic pharmaceutical companies have been identified as defendants in a complaint that was filed on November 18, 2022, in the District of New Jersey, USA.
  • According to Dr Reddy's Laboratories, the complaint asserts claims under federal and state antitrust laws as well as other state laws, alleging that the defendants improperly restricted competition and maintained a shared monopoly in the sale of brand-name and generic Revlimid through their respective settlements of patent litigation. The statement was given to PTI by the company. Read more

Markets may start the day on a positive note

Published on: 8:49 am

  • Indian equity markets may start the day in green. The opening may be followed by profit booking, after the rise in the last half hour yesterday. Asian markets have opened in green  today. US markets closed in green yesterday. So opening cues from foreign equity markets look positive.
  • US markets saw a big day after 3 days of losses. Dow Jones ended, up by 400 points. Nasdaq jumped over 149 points as bulls came roaring back. In a holiday shortened week, the US indices saw buying support. Lower bond yields, at 3.75%, and weakness in US dollar prompted buying in equities.
  • Asian markets have opened in the green today, led by the Taiwan & South Korean markets. Japanese 'Nikkei' is closed for a holiday today. Chinese stocks can also see buying interest even though Covid cases act as a dampener. Read more

Top 10 stocks for today – 23rd November 2022

Published on: 8:43 am

  • The Singapore Exchange's Nifty futures traded 65.5 points, or 0.36%, higher at 18,353, indicating that the stock markets are likely to have a successful start on Wednesday. The following ten stocks may show price movement in today's market. To check more hot stocks, click at:
  • Inox Green Energy Services:
  • After conducting its initial public offering between November 11 and 15, the provider of wind power operation and maintenance services will make its stock market debut on Wednesday. The firm raised Rs 740 crore through its IPO.
  • Wipro:
  • According to block deal data available with the BSE, BNP Paribas Arbitrage sold 48 lakh shares of the IT business in two tranches for a total of Rs185.76 crore, at an average price of Rs387 per share. Read more

Bira 91 raises $70 million in funding

Published on: 6:55 am

  • In order to increase production in response to high demand for the alcoholic beverage, the Indian craft beer producer Bira 91 has raised $70 million in a funding round that was led by the Japanese brewer Kirin Holdings Co. Ltd.
  • In India's projected $5 billion beer market, Bira faces off against names like Carlsberg and United Breweries, which is owned by Heineken.
  • Sales of craft beer are increasing in India as young, wealthy consumers choose brands and bars that serve lighter brews and guarantee fresher ingredients. Read more

Paytm stock plummeted yesterday after Macquarie said Jio Financial Services can be a competitive thr

Published on: 6:45 am

  • Shares of One 97 Communications Ltd., the parent company of India's largest digital payments brand, Paytm, fell to a record low on Tuesday after Macquarie Group Ltd. analysts warned of risks associated with billionaire Mukesh Ambani's push into the financial services industry.
  • Jio Financial Services Ltd., a subsidiary of Reliance Industries Ltd. (NSE 0.55%), "may pose a significant growth and market-share danger" to rivals Paytm and Bajaj Finance Ltd., according to a report published on Monday by Macquarie analysts under the direction of Suresh Ganapathy. Read more

Arvind Agarwal, CFO of Nykaa, resigns

Published on: 6:43 am

  • Arvind Agarwal, the chief financial officer (CFO) of FSN E-Commerce Ventures, which manages the fashion and cosmetics portal Nykaa, has resigned from the company.
  • In a BSE filing, Nykaa stated that Mr. Arvind Agarwal, the company's chief financial officer, will be leaving at the end of business on November 25, 2022, to seek other possibilities in the start-up and digital economy sectors. Read more

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Disclaimer : All estimates (1 year forward) are based on Consensus View provided by Refinitiv.

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