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Stock jumps 3% after promoters to sell 60% stake in the company
Gravure rollers are cylindrical components used in rotogravure printing, where they transfer ink onto substrates like paper, plastic, or metal. These rollers are engraved with microscopic cells that hold and release ink for precise and high-quality printing. Industries such as packaging, publishing, and decorative laminates heavily rely on gravure rollers for applications like flexible packaging, [...]
Stock jumps 5% after company to acquire 4% stake in Online PSB Loans for ₹33.25 Cr
The shares of this rating agency gained up to 5 percent after the company approved the investment in the equity capital of Online PSB Loans Limited in the amount of Rs. 33.25 crores. With a market capitalization of Rs 41,928.60 crore, the shares of CRISIL LTD. were trading at Rs 5,733.45 per share, increasing around [...]
Fundamental analysis of Mankind Pharma- Growth and Expansion plans explained
India's pharmaceutical industry is a cornerstone of the global healthcare market, underpinned by its vast population and skilled workforce. As the world's largest provider of generic medicines, India supplies over 50% of global vaccine demand and meets 40% of generic drug needs in the U.S. The country aims to become the world’s pharmaceutical hub, supported [...]
Logistics stock jumps after receiving order worth ₹90 Cr from cement companies
One of the leading multimodal logistics solutions providers engaged in providing customized and technology-driven solutions across transportation, warehousing, distribution, and supply chain management jumped 2 percent in the day’s trade upon receiving work order worth Rs. 90 Crores from one of the leading cement companies. Price Action With a market capitalization of Rs. 566 Crores, [...]
Auto stock jumps after receiving order worth ₹345 Cr from Tamil Nadu State Transport Corporation
The shares of the second-largest manufacturer gained up to 1.3 percent after the company bagged a prestigious work order from Tamil Nadu State Transport Corporation Ltd worth Rs 345 crore. With a market capitalization of Rs 67,011.55 crore, the shares of Ashok Leyland Ltd were trading at Rs 228.15 per share, increasing around 0.74 percent [...]
NBFC stock in which management expects ₹20,000 Cr net profit by FY29
According to the PIB, India's financial sector is a dynamic and rapidly growing segment of the economy, projected to reach a market volume of USD 480 billion by 2029. The banking industry plays a crucial role, with loans constituting over 50% of the total assets of major banks. Additionally, the fintech market is expected to [...]
NBFC stock hits 5% upper circuit after signing MOU with WardWizard for three wheeler EV
In Thursday’s trading session, the shares of one of the NBFC stock specialised in providing financial advisory, asset management and wealth management services hits 5% upper circuit upon entering into a strategic Memorandum of Understanding (MOU) with WardWizard Innovations and Mobility Limited. Price action With a market capitalization of 388.62 Crores on Thursday, the shares [...]
Stocks to Buy: 5 Stocks to buy now for an upside of more than 40%
Indian benchmark indices ended lower on December 12 with Nifty around 24,548.70. At close, the Sensex was down 236.18 points or 0.29 percent at 81,289.96, and the Nifty was down 93.10 points or 0.38 percent at 24,548.70. Here are the five stocks with upside potential of up to 42%; Cera Sanitaryware Ltd. Cera Sanitaryware Limited [...]
Transformer stock jumps 4% after company invested in Posco Poggenamp Electrical Steel
The shares of leading transformer manufacturers gained up to 4.3 percent after the company announced a strategic investment in Posco Poggenamp Electrical Steel Private Limited. With a market capitalization of Rs 16,936.11 crore, the shares of Transformers & Rectifiers (India) Ltd were trading at Rs 1,126.00 per share, increasing around 3.17 percent as compared to [...]
Aditya Birla group stock in focus after company to raise ₹2000 Cr through non convertible debentures
In Thursday’s trading session, the shares of one of the leading Aditya Birla group stock operating across diverse sectors, including cement, textiles, chemicals, and financial service are in focus after the company plans to raise upto Rs 2000 crores Price action With a market capitalization of 1,79,673 Crores on Thursday, the shares of Grasim Industries [...]
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Vodafone Idea hikes mobile services rates in the range of 20-25 per cent: Co statement. PTI PRS DRR DRR
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Reliance reboots Aramco deal, to re-evaluate Saudi firm picking stake in O2C business: Co statement. PTI ANZ ABM ABM
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SC-appointed panel member says he will release report on farm laws if apex court does not do so. PTI LUX RAM DRR DRR
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Stocks to Buy: 6 Stocks to buy for an upside of 40%
The Indian Benchmark Indices closed in Green on Friday with the Sensex gaining around 218.14 points ending the week at 81,224.75 and the Nifty 50 index gaining around 113.55 points ending the week at 24,863.40. In the last five trading sessions, the Sensex declined by approximately 0.75 percent while the Nifty 50 index declined by [...]
₹2.23 to ₹1,829: NBFC stock turns ₹10,000 to ₹82 Lakhs in just 5 years
During the trading session of Friday, the shares of a registered NBFC with core business operations focused on investing and lending slumped nearly 5 percent to hit an intraday low at Rs. 1,758.1 on BSE. With a market capitalisation of Rs. 31,068 crores, the shares of Authum Investment & Infrastructure Limited opened at Rs. 1,849, [...]
Stocks to Buy: 6 Stocks to buy now for an upside of 50%
The Indian Benchmark Indices closed in red on Friday with the Sensex losing around 230.05 points ending the week at 81,381.36 and the Nifty 50 index losing around 34.20 points ending the week at 24,964.25. In the last five trading sessions, the Sensex declined by approximately 0.73 percent while the Nifty 50 index declined by [...]
₹430 to ₹14,136: Pharma stock turns ₹10,000 to ₹3.29 Lakhs in just 5 years
According to business standards, the Indian pharmaceutical industry is a global powerhouse, projected to reach $130 billion by 2030, growing at over 10% annually. Currently valued at $50 billion, India supplies 20% of the world's generic medicines and accounts for 60% of global vaccine production, cementing its role as the "pharmacy of the world. With [...]
Stocks that may get affected by Israel-Iran war
India is Israel’s 2nd trading partner in Asia and the 9th largest globally. The bilateral trade has been majorly dominated by diamonds and chemicals. However, recent years have seen an increase in trade in areas such as electronic machinery and high-tech products; medical equipment; communications systems, etc. The two nations celebrated 30 years of the [...]
5 Stocks that supply defence equipments to Israel to keep an eye on
The geopolitical tensions involving Israel, Iran, and Gaza are characterized by Iran's animosity toward Israel and its support for militant groups like Hamas and Hezbollah, which engage in hostilities against Israel. This led to airstrikes, military & political outrage, loss of life, and more leading to fear of global war among other nations. Listed below [...]
Latest Market News
Anand Rathi Wealth Q1 Results: Profit after tax up 34%
Leading non-bank wealths solutions company Anand Rathi Wealth on Tuesday reported 33.6 per cent jump in profit after tax at Rs 39.7 crore for three months ended June 2022. In comparison, the company had posted a Profit After Tax (PAT) of Rs 29.7 crore in the same quarter preceding fiscal, Anand Rathi Wealth, part of [...]
Rakesh Jhunjhunwala reduces his stake in these 3 companies
We are eleven days into the second quarter of FY23 and companies have started releasing their results. They are obliged to release the name of shareholders holding a 1% or more stake in the company on a quarterly basis. The markets were in the red for a while and the Big Bull, Rakesh Jhunjhunwala has [...]
HCL Tech Q1 Results: Net profit up 2.4% at Rs 3,283 cr
IT services company HCL Technologies on Tuesday reported a 2.4 per cent year-on-year increase in its net profit for the three months ended June 2022 at Rs 3,283 crore. The revenue came in at Rs 23,464 crore, which was nearly 17 per cent higher than the year-ago period. In its FY23 guidance, the company said [...]
Sensex tumbles for 2nd day as tech selloff deepens; Infy top drag
Equity indices nursed losses for the second consecutive session on Tuesday as investors continued to dump IT, banking and FMCG stocks amid a bearish trend in global markets. Unabated foreign fund outflows and the rupee dropping to another record low against the US dollar added to the woes, traders said. Participants were also in wait-and [...]
Smallcap Speciality Chemical stock up 45% in a week; Do you own it?
The shares of Himadri Speciality Chemicals Limited delivered mind-boggling returns in the last five days as the shares surged by 44.91% in the past week. The promoters of the company have reported to the stock exchange that they have entered into a Family Settlement Agreement under which the BLC Family and they are going to [...]
Debt mutual funds see Rs 92,248 cr outflow in June on uncertain macro environment
Mutual funds focused on investing in fixed-income securities witnessed a heavy outflow of Rs 92,248 crore in June on uncertain macro environment, driven by expectations around an increasing rate cycle, higher commodity prices and slowdown in growth. This comes following a net outflow of Rs 32,722 crore in May and an inflow of Rs 54,756 [...]
Adani Data Networks, Jio, Airtel, Vodafone Idea to bid for spectrum
Billionaire Gautam Adani-led Adani Data Networks, Reliance Jio, Bharti Airtel and Vodafone Idea have applied to participate in the upcoming 5G auction, according to a list issued by the Department of Telecom on Tuesday. The spectrum auction, scheduled to start on July 26, may see aggressive bids for some frequency bands, with the entry of [...]
After 18 years will there be an IPO for 2 TATA Group companies?
Tata Motors is planning to publicly list its subsidiary Tata Technologies and has appointed bankers for the initial public offering (IPO), as per reports. This is the first public float from the Tata Group since 2004, after the ₹ 5500 crore IPO of Tata Consultancy Services, India’s largest software services exporter. Further, it will be [...]
Govt to release data on June retail inflation on Tuesday
The government on Tuesday will release the key data on June retail inflation which will be factored by the Reserve Bank in its next bi-monthly monetary policy to be announced in early August. The retail inflation has remained above 6 per cent since January this year forcing the central bank to go for two back-to-back [...]
Bosch to invest over Rs 200 cr in next 5 years in India
Auto components major Bosch Ltd will invest over Rs 200 crore in India in the next five years in advanced automotive technologies and digital mobility space, its Managing Director Soumitra Bhattacharya has said. The company is also "quietly and cautiously optimistic about having a double-digit growth in FY2022-23 over the previous fiscal year", Bhattacharya, who [...]
SpiceJet chairman Ajay Singh booked for allegedly defrauding Gurugram businessman
SpiceJet chairman Ajay Singh was booked here for allegedly duping a businessman on the pretext of allotting him company shares, police said on Monday. Complainant Amit Arora claimed Singh has defrauded others also in a similar manner. According to the complaint, the SpiceJet chairman and managing director delivered a fake depository instruction slip (DIS) of [...]
RBI announces measures for international trade settlement in rupees
The Reserve Bank on Monday asked banks to put in place additional arrangements for export and import transactions in Indian rupees in view of increasing interest of the global trading community in the domestic currency. Before putting in place this mechanism, banks will require prior approval from the Foreign Exchange Department of the Reserve Bank [...]
SC sentences businessman Vijay Mallya to four months in jail for contempt
The Supreme Court Monday sentenced fugitive businessman Vijay Mallya to four months in jail for committing contempt of court, saying he never showed any remorse nor tendered any apology for his conduct and adequate punishment must be imposed to maintain the majesty of the law. The apex court directed the Ministry of Home Affairs (MHA) [...]
HC refuses to stop Sun Pharmaceuticals from using word Respules
The Madras High Court has declined to restrain Sun Pharmaceuticals Industries Limited in Nandanam here from using the word 'Respules' in its business operations. Justice Senthilkumar Ramamoorthy gave an interim ruling to this effect, while disposing of three interlocutory applications arising out of a civil suit from Cipla Limited in Alapakkam here and in Mumbai, [...]
HC restrains Centre from taking steps concerning order imposing Rs 66 crore penalty on NTPC
The Delhi High Court has restrained the Centre from taking further steps concerning its order imposing a penalty of over Rs 66 crore on National Thermal Power Corporation (NTPC) for allegedly failing to comply with the “production schedule” for a coal mine in Chhattisgarh for two years. Justice Yashwant Varma issued notice on the petition [...]
GSP Crop Science plans Rs 500 crore IPO next year
Agro-chemical firm GSP Crop Science Pvt Lt is looking to launch a Rs 500-crore IPO (Initial Public Offering) by next year, according to its managing director Bhavesh Shah. The company, which needs funds for expansion of its business operation, plans to soon file a draft red herring prospectus with capital markets regulator Sebi, he said. [...]
TCS drops more than 4% after it misses market estimates; Should you buy, sell or hold?
India’s largest IT exporter, Tata Consultancy Services, was already under pressure due to FII selling, attrition issues, salary hikes and moderation of growth in Europe. Additionally, its margins contracted in Q1FY23 and missed analysts’ estimates. The IT major reported a 5.21% increase in its consolidated net profit at ₹ 9478 crores in the June quarter [...]
Multibagger stock sets Ex-date for bonus and stock split as 14 July; Check the details
A participatory rally after the second wave of Covid-19 had helped the Indian stock markets to scale new heights. Once that was out of the way, the Russia-Ukraine War, rising inflation, and interest rate hikes weighed down the markets. A good number of stocks have entered the multibagger category since the onset of the pandemic [...]
Top Stock Picks: 7 Stocks to BUY for an upside of more than 100%
S&P BSE Sensex zoomed 303 points or 0.56% to settle at 54,481 while NSE Nifty 50 index ended at 16,220, gaining 87.70 points or 0.54% on the last trading day of the week. Here are some stocks for an upside of up to 118%. Vedanta Ltd JP Morgan has a buy call on Vedanta Ltd., [...]
Sri Lanka uprising: End of the Political Journey of Powerful Rajapaksa dynasty?
Gotabaya Rajapaksa's political destiny has turned a full circle from being a popular Sri Lankan president to a symbol of hatred within a short span of just 30 months. The man elected with a 60 per cent popular majority from among the Sinhala Buddhist majority is in hiding. Having fled the Presidential Palace on the [...]
IT stocks likely to remain Under Pressure amid Global Headwinds as per Analysts
Information technology stocks are likely to remain under pressure in the near-term amid headwinds emanating from the worsening economic situation in key global markets and financial market volatility, according to analysts. While the country's largest software exporter TCS reported a 5.2 per cent rise in June quarter net profit on Friday, kicking off the latest [...]
Ambani vs Adani at 5G auction but no Direct Market Clash Yet
For years they tiptoed around each other but now the groups led by billionaires Mukesh Ambani and Gautam Adani will for the first time be in direct competition when they later this month participate in the auction of airwaves capable of providing fifth generation or 5G telecom services. But the rivalry between the two politically [...]
Housing sales jump 2.5x in Delhi-NCR during Jan-June; Prices up 7% as per Report
Housing sales in Delhi-NCR jumped 2.5 fold annually during January-June on revival in demand and lower base effect, while prices rose 7 per cent, according to property consultant Knight Frank India. In its latest half-yearly report 'India Real Estate: Residential and Office Market H1 2022', the consultant said sales of residential properties rose to 29,101 [...]
Startup funding declines 40% in April-June: PwC report
Geo-political instability appears to be taking a toll on the Indian startups with the total funding declining by 40 per cent to USD 6.8 billion in the April-June quarter, reveals a PwC India report. The early-stage deals comprised more than 60 per cent of the total with an average ticket size of USD 5 million, [...]
India hands 44,000 Metric Tonnes of Urea to Crisis-Hit Sri Lanka
India on Sunday handed more than 44,000 metric tonnes of urea under a credit line extended to crisis-ridden Sri Lanka, as part of New Delhi’s ongoing efforts to support the island nation’s farmers and help bolster bilateral cooperation for food security, the Indian High Commission here said. Indian High Commissioner to Sri Lanka Gopal Baglay [...]
AMCs add 51 lakh Accounts in Jun Quarter on increasing awareness about MFs
Asset management companies added 51 lakh investor accounts in June quarter, taking the total tally to 13.46 crore, on increasing awareness about mutual funds and ease of transactions through digitisation, and experts hope the ongoing financial year to be promising too. In comparison, 93 lakh accounts (or folios in mutual fund parlance) were opened in [...]
SpiceXpress to be hived off from SpiceJet by first week of Aug
Banks and shareholders have given their approval to hive off cargo and logistics company SpiceXpress from SpiceJet airline and the bifurcation will be done by the first week of August, the carrier's CMD Ajay Singh has said. SpiceJet had on August 17 last year announced it was transferring its cargo and logistics services on a [...]
Stocks to watch: 3 Defensive Stocks you can add to your watchlist
On a global level, economies are affected due to the lasting effects of the pandemic, the supply chain disruption due to the Russia Ukraine war, and the rising inflation. However, some stocks do well irrespective of an economic downturn. Defensive stocks are blue-chip companies that have a strong financial history. These stocks tend to give [...]
Inflation May Ease Gradually in Second Half of Fiscal, says RBI Governor Das
Exuding confidence that the price situation will gradually improve in the second half of the current fiscal, RBI Governor Shaktikanta Das on Saturday said the central bank would continue to take monetary measures to anchor inflation with a view to achieving strong and sustainable growth. Inflation is a measure of the trust and confidence that [...]
Airtel Africa clears dues worth USD 450 million
Bharti Airtel International (Netherlands) BV, which manages Airtel's Africa business, has cleared dues worth USD 450 million (Rs 3,565 crore) by purchasing notes through a tender offer, the company said on Friday. The company had issued a tender offer to purchase USD 300 million worth of its 5.35 per cent guaranteed senior notes of USD [...]
Adani Group planning to enter telecom spectrum race; to face Jio, Airtel
Billionaire Gautam Adani's group is said to be planning a surprise entry into the race to acquire telecom spectrum, which will pitch it directly against Mukesh Ambani's Reliance Jio and telecom czar Sunil Bharti Mittal's Airtel, sources said. Applications for participating in the July 26 auction of airwaves, including those capable of providing fifth-generation or [...]
Tata Motor global wholesales up 48% in Q1
Tata Motors on Friday said its global wholesales, including that of Jaguar Land Rover, rose 48 per cent to 3,16,443 units in the first quarter of the current fiscal. The auto major had dispatched 2,14,250 units to dealers in the April-June quarter of 2021-22. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo [...]
HDFC Securities has given BUY call on this construction stock with an upside of 42%
The market opened in the green today as the BSE Sensex gained 398.31 points or 0.74% to open at 54576.80 while the Nifty 50 opened 140.80 points or 0.87% points higher at 16273.70. The positivity was seen in the share price of Larsen & Toubro Limited as well. The shares opened at Rs 1624 in [...]
Equity MFs see Rs 15,498 cr inflow in June amid volatile stock market
Equity mutual funds witnessed a net inflow of Rs 15,498 crore in June amid heightened volatility in the stock market and consistent selling by Foreign Portfolio Investors (FPIs). Equity mutual funds witnessed positive momentum for the 16th straight month in June. Inflows into equity mutual funds in June was much lower compared to the net [...]
M&M shares climb over 5%; hit 52-week high
Shares of Mahindra & Mahindra (M&M) climbed over 5 per cent in morning trade on Friday after the company and the British International Investment (BII) inked a pact to invest Rs 1,925 crore each in a wholly-owned subsidiary of the homegrown auto major. The stock jumped 5.16 per cent to its 52-week high of Rs [...]
British International Investment to invest up to Rs 1,925 Cr in Mahindra’s four-wheeler EV biz
Mahindra & Mahindra (M&M) and the British International Investment (BII) have inked a pact to invest Rs 1,925 crore each in a wholly-owned subsidiary of the home-grown auto major to focus on four-wheel passenger electric vehicles. The Mumbai-based automaker and BII have executed a binding agreement to invest in the new entity -- "EV Co". [...]
Finmin pegs dollar value at Rs 79.90 for computing import duty
The Finance Ministry Thursday pegged the exchange rate for dollar at Rs 79.90 for calculation of import duty with effect from July 8, as against Rs 78.95 a fortnight ago. The sharp revision is due to depreciation of rupee against dollar following outflow of capital caused by various external factors, including the hardening of interest rate [...]
Govt approves construction of Rs 2,415 cr project to connect Haryana with Jewar airport in UP
Union minister Nitin Gadkari on Thursday announced that the government has approved the construction of a road linking Haryana to the upcoming Jewar International Airport in Gautam Budh Nagar district of Uttar Pradesh. The construction of greenfield connectivity to Jewar International Airport (connecting Delhi-Mumbai Expressway) from DND Faridabad-Ballabhag Bypass KMP link in Gautam Budh Nagar [...]
CBI arrests Power Grid exec director, Tata Projects executive VP among 6 in bribery case
The CBI has arrested Executive Director of Power Grid Corporation of India B S Jha and five officials of Tata Projects, including its Executive VP Deshraj Pathak and Assistant VP R N Singh, in connection with alleged bribery to favour the private company, officials said on Thursday. The probe agency had conducted searches on Wednesday [...]
Birla Group stock fixes record date for share buyback; Check the details
The board of Birlasoft Ltd has fixed 15th July 2022 as the record date for the buyback of shares. The company will buy back each of its shares at ₹500. The board has further announced that it will be buying 78,00,000 fully paid equity shares not exceeding ₹390 crores. The buyback will be offered through [...]
Potential Multibagger: JP Morgan sees an upside of 125% in this stock
Leading metals and oil & gas company, Vedanta Limited’s shares have fallen by 31.62% in the past month and are currently trading at 218.10 levels. A downturn was observed in the shares of the mining major after it declared dividends. The company declared an interim dividend of ₹ 31.50 per share in April 2022. Moreover, [...]
Hit hard by inflation, FMCG industry reports volume decline in June quarter
Demand in the FMCG industry remained soft in the June quarter, with major players Dabur, Marico and Godrej Consumer Products Ltd (GCPL) stating that consumers have titrated consumption as unprecedented inflation continued to impact the share of their income available for spending on consumer staples. The domestic FMCG industry continued to be "hit hard by [...]
Deal street hits all-time high of USD 130 bn in first half of 2022 on HDFC, Adani-Holcim mergers
The mega USD 60-billion merger of the HDFC twins, USD 10.5-billion Adani-Holcim deal along with USD 2.7-billion LIC share sale in the June quarter pushed the deal market to an all-time high of USD 130.3 billion in the first half of 2022, a report said on Wednesday. Deals worth USD 130.3 billion was more than [...]
Reliance Retail to bring American fashion brand Gap to India; inks franchise pact
Reliance Retail Ltd on Wednesday announced its long-term partnership with Gap and plans to bring back the iconic American fashion brand to India. "Through a long-term franchise agreement, Reliance Retail has become the official retailer for Gap across all channels in India," said a joint statement. Earlier, Gap Inc had a franchise business relationship with [...]
Future Retail independent director conduct raises question on corp gov in India: Amazon
E-commerce major Amazon has alleged that independent directors of Future Retail failed to exercise their statutory duties and their conduct and attitude raise substantial questions on accountability, transparency and fairness regime for corporate governance in India. In a strongly worded letter to Future Retail's independent director on July 4, Amazon has also raised objection to [...]
Time to Accumulate: 2 Blue-chip stocks with huge upside potential
The broader indices on Wednesday saw a bull run. The BSE Sensex closed 616 points or 1.16% higher at 53,750. On the other hand, NSE Nifty 50 index closed 178 points or 1.13% higher at 15,989. Here are two bluechip stocks on which the analysts are bullish after they reported their Q1 numbers for the [...]
Rakesh Jhunjhunwala Portfolio stock lands into trouble; found guilty of profiteering
The shares of Indiabulls Real Estate declined by 4.24% on Wednesday and by 8.91% in the past seven days. The National Anti-profiteering Authority (NAA) found the company guilty of not passing on over ₹6.46 crores input tax credit benefits to homebuyers by a commensurate reduction in prices post rollout of GST. A buyer filed a [...]
Ban on levy of service charge in food bills without any legal basis: NRAI
The National Restaurant Association of India (NRAI) on Wednesday said the government cannot make changes in levy of service charge in food bills by making guidelines and CCPA's decision to bar hotels and restaurants from such practice has created unnecessary confusion amongst consumers and disrupted smooth operations of restaurants. It alleged that there is an [...]
LPG price hiked by Rs 50; rates up by Rs 244 in one year
Cooking gas LPG price on Wednesday was hiked by Rs 50 per cylinder, the third increase in rates since May on firming international energy prices. Non-subsidised LPG now costs Rs 1,053 per 14.2-kg cylinder in the national capital, up from Rs 1,003 previously, according to a price notification of state-owned fuel retailers. Common households pay [...]
SpiceJet shares tank 7% and hit 52 week low; Here are few reasons
The shares of SpiceJet Limited lurched lower on Wednesday, declining 7% to hit their 52-week low of ₹35 apiece on the Bombay Stock Exchange (BSE). This happened due to multiple instances of its planes suffering technical glitches in the past few weeks. The shares closed at ₹ 37.65 on Tuesday and opened at ₹37.10 apiece [...]
Mortgage lender HDFC ties up with Salesforce
Mortgage lender HDFC Ltd on Tuesday said it has partnered with software firm Salesforce to support the company's growth priorities. HDFC wanted to build the next generation of integration backbone, to easily connect backend and frontend systems including Salesforce, the mortgage firm said in a statement. Mulesoft with its innovative API-led integration approach and low [...]
Nithin Kamat feels real estate can be less profitable for the new generation; Here’s why
Nithin Kamath, Founder, and CEO of the country's top online brokerage firm Zerodha took to Twitter to share his views on real estate as an investment for the younger generation. As per his tweet, investors who have had exposure to real estate for more than a decade have earned a decent return on investment. The [...]
ED conducts raids against Vivo, related companies in money laundering probe
The Enforcement Directorate (ED) on Tuesday conducted searches at 44 places across the country in a money laundering investigation against Chinese smartphone manufacturing company Vivo and related firms, officials said. The searches are being carried out under sections of the Prevention of Money Laundering Act (PMLA) at locations in several states including in Delhi, Uttar [...]
Reliance Power shareholders turn down special resolution to monetise assets
Reliance Power (RPower) shareholders have turned down a special resolution to monetise its assets during the annual general meeting held on July 2. All special resolutions are required to be approved by 75 per cent or more votes of shareholders. A BSE filing by the company showed that 72.02 per cent of votes were cast [...]
Edelweiss Broking to raise up to Rs 300 cr via NCD
Edelweiss Broking on Tuesday said it will raise up to Rs 300 crore through the public issuance of non-convertible debentures to support working capital requirements. The issue will open on July 5 and close on July 26 with an option of early closure, the company said in a statement. The public issue of secured redeemable [...]
Britannia shareholders reject Rs 5,000 cr investment proposal
Britannia Industries' shareholders have voted against a resolution to authorise the board to make investments, give loans and provide guarantees of up to Rs 5,000 crore in the AGM concluded last week. The special resolution for approval to increase limits for making investments, loans, Special guarantees and security was "not Passed with requisite majority," said [...]
Muthoot Finance gets RBI nod to open 150 new branches
Gold loan-focussed Non-Banking Financial Company (NBFC) Muthoot Finance on Monday said it has received an approval from Reserve Bank of India (RBI) to open additional 150 branches across the country. The non-bank lender plans to open these branches across southern and northern parts of the country, a release said. "As the economy gradually recovers, the [...]
Multibagger Stock up more than 35% in 2 days after bonus issue; Do you own?
Multibaggger EKI Energy Sevices ltd hit an upper circuit of 20% on Monday. This was after the stock went ex-bonus. In the early trading session of Tuesday, the stock price has so far risen by 18.40% and is currently trading at Rs 2,660 levels. In the last two trading sessions, the stock is up by [...]
Exports rise 16.78% to USD 37.94 bn in Jun; trade deficit at record USD 25.63 bn
India's merchandise exports in June rose by 16.78 per cent year-on-year to USD 37.94 billion while the trade deficit ballooned to a record USD 25.63 billion on account of a steep increase in gold and crude oil imports, according to the government's preliminary data released on Monday. The export growth in June moderated from 20.55 [...]
Passenger vehicle retail sales up 40% in June as chip supply improves
Passenger vehicle retail sales in the country rose 40 per cent in June indicating an improvement in semiconductor supplies even as demand, especially for SUVs, remained robust, auto dealer' body FADA said on Tuesday. According to the Federation of Automobile Dealers Associations (FADA), passenger vehicle (PV) registrations rose to 2,60,683 units last month, as compared [...]
Tata Motors expects its performance to be better in second half of FY23: Chandrasekaran
Tata Motors expects second half of the current fiscal to be better in terms of performance with gradual improvement in the overall supply situation and stabilisation in commodity prices, according to company chairman N Chandrasekaran. Addressing shareholders during the company's 77th annual general meeting, Chandrasekaran noted that demand for the company's vehicles across segments remained [...]
Paper stocks in demand amid ban on certain single use plastic items
Stocks of companies related to paper industry have gained amid a ban on certain Single-Use Plastic (SUP) items that kicked in from Friday. Since June 30, shares of Seshasayee Paper and Boards jumped 7 per cent, Andhra Paper gained 6.21 per cent, Tamil Nadu Newsprint & Papers climbed 4.62 per cent and Satia Industries advanced [...]
₹161 to ₹33,100; This multibagger stock has turned ₹1 lakh to ₹2.9 crores!
Leading integrated automation and software solutions provider, Honeywell Automation India Ltd is another example of how staying invested in a stock for a long period of time can help investors reap good returns. The share price of the company surged from ₹161.98 on July 04, 2002, to ₹ 33,100.00 in twenty years. Investors who had [...]
Byju clears USD 950 million payment to Aakash, completes USD 800 million fund raise
Edtech firm Byju's said on Monday that it has completed payment that was due for the acquisition of Aakash Educational Service and received majority of USD 800 million fund which it announced in March. The company is estimated to have acquired Aakash Educational Services Limited for around USD 950 million. "Our fundraising efforts are on [...]
DoT warns eCommerce firms on illegal sale of wireless jammers, network boosters
The Department of Telecom has warned e-commerce platforms against selling some telecom gears like wireless jammers and network boosters that require government permission for sale, an official statement said on Monday. The DoT has raised the issue several times in the last 4-5 years and even conducted raids to check illegal sales of these equipment. [...]
Tata Power to invest Rs 3,000 crore to set up solar cell, module manufacturing unit in TN
Tata Power on Monday announced that it has inked a pact with the Tamil Nadu government to invest Rs 3,000 crore for setting up a new facility to manufacture solar cells and modules in Tirunelveli district of the state. "Tata Power, one of India's largest integrated power companies, has signed a Memorandum of Understanding (MoU) [...]
Windfall tax: $12 margin hit for Reliance; Govt rakes in Rs 1.3 lakh cr
The windfall taxes imposed by the government on domestic crude oil production and fuel exports will hit ONGC's earnings severely while shaving off up to USD 12 per barrel in refining margins for Reliance Industries Ltd. The new levies will give the government up to Rs 1.3 lakh crore additional revenue, brokerages said. In a [...]
Bajaj Auto begins Rs 2,500 cr share buyback
Bajaj Auto on Monday said it has commenced its Rs 2,500 share buyback programme. In a regulatory filing, the Pune-based company said the buyback initiative has begun with effect from July 4. The company's board, at its meeting held on June 27, had approved the proposal for buyback of the fully paid-up equity shares of [...]
Stock to Watch: ITC reaches new 52-week high, analysts expect more upside
The shares of ITC Ltd reached its new 52-week high of Rs 290.50 in the early trading session of Monday. The stock closed at Rs 284.35 on Friday. In the last seven days, the stock has gained more than 7.13% while it has risen more than 32% so far this year (YTD). Analysts seem to [...]
5 Stocks hit fresh 52 week high today; Do you hold any?
The Indian stock market began the week on a desultory note on Monday. Metal stocks dragged the markets amid demand worries and weaker sentiment in global markets. However, the BSE Sensex rose 110 points to 53,018 in opening trades. Here are a few shares that opened gap-up on Monday and went on to reach their [...]
Govt directs steel industry to draw time bound action plan to lower CO2 emissions
In line with the government's COP26 commitments, the Ministry of Steel has asked the stakeholders to develop a time-bound action plan to lower emissions in the steel industry. According to a ministry document, the iron and steel industry globally accounts for around 8 per cent of total carbon dioxide (CO2) emissions on an annual basis, [...]
Large-cap Pharma stock coming with bonus issue soon; Check Ex-date details
Torrent Pharmaceuticals, one of the top pharmaceutical firms in the country stated in a BSE filing that it had fixed Monday, July 11, 2022, as the record date for the purpose of determining the names of Members who shall be entitled to allotment of bonus equity shares in the ratio of 1: 1. The shares [...]
Stock Recommendation: Quality stocks to buy for an upside of up to 48%
Benchmark Indices ended in the red as Sensex shed 111 points or 0.21% to end at 52907. Meanwhile, the Nifty index slipped 28 points or 0.18% and settled at 15752 points. However, here are a few stocks that investors can consider for an upside of up to 48% Gujarat Gas Limited (GGL) ICICI Securities has [...]
Vedanta Group eyes USD 3.5 billion turnover from chip business, one third from exports
Vedanta Group expects its semiconductor business turnover to be in the range of USD 3 to 3.5 billion out of which around USD 1 billion will come from exports, a senior official of the company said. Vedanta Group's global managing director of display and semiconductor business Akarsh Hebbar told PTI that its JV partner Foxconn [...]
Adani group stock gets a BUY call from brokerage with an upside of 45%
Adani Ports and Special Economic Zone Ltd is trading near its 52-week low of Rs 651.95. In the last month, the stock has dropped by 9%. In Friday's trading session, the stock closed at Rs 678.30. The current level represents an approximate decline of 38% from its 52-week high of Rs 924.65. The company was [...]
Stock to Buy: This large cap stock can deliver multibagger returns of 99% says JP Morgan
With more than 5 decades of operational history, Hindustan Zinc is the largest zinc-lead miner in India. Globally, it is the second-largest extractor. The company has a market share of 78% in the country’s primary zinc industry. Along with zinc mining, the company is also involved in producing silver. It stands sixth in line with [...]
Stocks that will turn Ex dividend next week – Check the details
Benchmark Indices slipped on Friday, as investors assessed risks to the economic outlook. The NSE Nifty 50 was trading at 15612.95 points, down 167.30 points or 1.06%. Meanwhile, the BSE Sensex was trading at 52480.39 points, down 538.55 points or 1.02%. We entered the second quarter with losses in the financials and auto sector. For [...]
Concord Enviro Systems files IPO draft papers with Sebi
Concord Enviro Systems, an environmental engineering solutions firm, has filed preliminary papers with Sebi to raise funds through an initial public offering (IPO). The proposed IPO comprises fresh issuance of equity shares worth Rs 175 crore and an offer-for-sale (OFS) of 35,69,180 equity shares by promoters and an investor, according to the draft red herring [...]
Government hikes gold import duty to 15%
The government has hiked gold import duty to 15 per cent from 10.75 per cent to check current account deficit (CAD) and rising import of the yellow metal. The duty changes came into effect from June 30. Earlier, the basic customs duty on gold was 7.5 per cent, now it will be 12.5 per cent. [...]
Reliance Industries share price down more than 7%? Know the reason
The shares of Mukesh Ambani-led Reliance Industries have fallen by more than 7% in the early trading session of Friday. The share opened at ₹2574 and fell up to ₹2385 levels. This is the most it has dropped in the last twenty months. Recently the government announced that it will be increasing taxes on the [...]
Future Enterprises defaults on Rs 6.15 cr interest payment for NCDs
Debt-ridden Future Enterprises Ltd (FEL) has announced another default, this time on payment of interest of Rs 6.15 crore for its non-convertible debentures. The due date for payment was June 29, 2022, FEL said in a regulatory filing on Thursday. "The Company is unable to service its obligations in respect of the interest on Non-Convertible [...]
Cryptocurrencies clear danger, says RBI Governor
Reserve Bank Governor Shaktikanta Das on Thursday described cryptocurrencies as "clear danger" and said that anything that derives value based on make believe, without any underlying, is just speculation under a sophisticated name. The government is in the process of finalising a consultation paper on cryptocurrencies after gathering inputs from various stakeholders and institutions. Reserve [...]
IOC to invest Rs 740 cr to raise Digboi refinery capacity
State-owned Indian Oil Corporation (IOC) will invest over Rs 740 crore to raise the capacity of the nation's oldest oil refinery at Digboi in Assam. In a stock exchange filing, IOC said its board has approved raising of Digboi refinery capacity from 0.65 million tonnes per annum to 1 million tonnes along with associated facilities [...]
With recent management changes in Reliance: What is Anant Ambani going to get?
Reliance Jio Infocomm Ltd, the digital arm of Reliance Industries, on Tuesday, announced that Mukesh Ambani would resign as the director of the company effective from June 27, 2022. The company’s board has approved the appointment of Akash M Ambani, non-executive director, as chairman of the board of directors of the company. Isha Ambani, his [...]
JB Chemicals gets board approval to acquire Dr Reddys 4 brands
JB Chemicals & Pharmaceuticals on Thursday said its board has approved a proposal to acquire four paediatric brands from Dr Reddy's Laboratories for about Rs 98 crore. The company's board at its meeting held on June 29, has considered and approved the acquisition of a portfolio of brands, for use sales within India, from Dr [...]
Toppr lays off 1,100 employees in a day
Edtech major Byju's group firm Toppr has laid off 1,100 staff or about 36 per cent of its workforce from the company earlier this week, according to some of the employees who have been hit by the decision. Toppr's sacked employees said that they got a call from the company on Monday and were asked [...]
Fleet operators may see 10-12 % revenue growth this fiscal: Crisil
Fleet operators may see a 10-12 per cent revenue growth this fiscal as they are expected to continue adding to their fleets steered by higher demand from road-freight sectors and higher repayment due to elevated borrowing cost among others, credit ratings agency Crisil said on Wednesday. Broad-based recovery in the economy after ebbing of the [...]
Govt gives ONGC, Vedanta freedom to sell crude oil
The government on Wednesday allowed firms like ONGC and Vedanta to sell locally produced crude oil to any Indian refinery for turning it into fuel, such as petrol and diesel, as it deregulated one of the last few avenues that were still under its control. While contracts for oilfields awarded since 1999 gave producers the [...]
12 states demand extension of GST compensation beyond June
About a dozen states on Wednesday pitched for extending by a few years the compensation paid to states for revenue lost from the implementation of the goods and services tax (GST) regime. The GST Council, the highest decision-making body of the indirect tax regime, however, did not take any decision at its meeting here. A [...]
Expecting more rate hikes in FY23; tighter financial conditions can impact growth: Parekh
Inflationary pressures are likely to continue and force the RBI to further hike interest rates during the course of the current fiscal but the tighter financial conditions can impact growth, finance industry veteran Deepak Parekh said on Wednesday. Parekh, who is the chairman of HDFC Asset Management Company, said there are reasons to be optimistic [...]
Karnataka Bank raises interest rates on deposits
Karnataka Bank has raised the interest rates on deposits of below Rs 2 crore to up to 5.50 per cent per annum to be effective from next month. The bank said it has increased the deposit rates by 10 basis points (0.10 per cent) for 1-2 years of deposits as well for above 2-5 years [...]
Time to Accumulate: 2 Blue chip stocks trading at a discount
Indian markets have witnessed a massive correction due to increasing inflation, interest rate hikes and an increase in oil prices. The Indian benchmark index Nifty50 has witnessed a correction of 12.2% since the beginning of April. Nifty50 has closed at 15875.10 points as of Tuesday. It has even impacted bluechip stocks which are currently trading [...]
Large banks with healthy performance to outperform industry: Axis Bank MD&CEO
As the competition heats up between banks and the new-age fintech firms, large banks with healthy operational perfomances and strong balance sheet will continue to grow faster than the industry, Axis Bank MD&CEO Amitabh Chaudhry said in the annual report 2021-22 released on Wednesday. With a number of transformation driven initiatives like One Axis and [...]
Pharma company Innova Captab files IPO papers with Sebi
Pharmaceutical company Innova Captab Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The proposed IPO comprises fresh issuance of equity shares worth Rs 400 crore and an offer for sale (OFS) of 96 lakh equity shares by promoters and other shareholders, according to the [...]
Sebi penalises NSE, former chief Chitra Ramkrishna, 16 others in dark fibre case
Sebi has imposed a penalty totalling Rs 44 crore on 18 entities, including National Stock Exchange (NSE), its business development officer Ravi Varanasi, former MD and CEO Chitra Ramkrishna and her adviser Subramanian Anand along with certain stock brokers in the 'dark fibre' case. Apart from NSE and its former officials, others penalised by Sebi [...]
PVR restarts capex cycle, plans to open 125 screens in FY23
Leading multiplex chain operator PVR expects the movie exhibition industry to bounce back "dynamically" in FY23 and plans to open as many as 125 screens during the year, its highest ever tally in a year. According to the company's latest annual report, PVR, which is merging with rival Inox Leisure, expects the process to be [...]
Smallcap Multibagger stock which gave 430% returns gets a BUY call from ICICI Direct
The shares of India's largest automotive suspension spring manufacturer, Jamna Auto Industries Ltd achieved a fresh all-time high on Wednesday. During the day, the stock reached an all-time high of ₹126.25 and is currently trading at ₹123.05, up by 4.33%, IST: 12:00. Since the crash of covid, the share has given a multibagger return of [...]
Tata Tech joins Foxconn-led consortium to develop sustainable mobility solutions
Tata Technologies Ltd on Wednesday said it has joined the Foxconn-initiated MIH Consortium to promote development of sustainable mobility solutions and encourage collaboration within the industry. The MIH (Mobility In Harmony Consortium) comprises more than 2,300 members in the field of software, hardware, and services. The goal of this open electric vehicle alliance is to [...]
Is making money by trading easy? Here’s what Nithin Kamath has to say
Nithin Kamath, Zerodha’s Co-founder and CEO said that trading is one of the toughest ways to make money in a tweet. In a series of tweets, he added that the kind of volatility in the last few months is making it even tougher. "For most traders living in the social media bubble, it must seem [...]
Ruchi Soya Industries Ltd now becomes Patanjali Foods Ltd
Edible oil firm Ruchi Soya Industries Ltd on Tuesday said the name of the company has been changed to Patanjali Foods Ltd with effect from June 24. In 2019, Baba Ramdev-led Patanjali Ayurved acquired Ruchi Soya for Rs 4,350 crore through an insolvency process. In a regulatory filing, Ruchi Soya informed that it has "received [...]
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