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Steel stock jumps 8% after receiving approval from Environmental Conservation Board to operate plant
This Microcap stock deals in the business of manufacturing Sponge Iron, TMT bars, and M.S. Billets under the brand Vraj was up 8 percent in intraday trade after the company received consent from the Environment Conservation board to operate the plant. Price Action With a market capitalization of Rs.796.70 Crores, the shares of Vraj Iron [...]
Vijay Kedia stock hits 5% upper circuit after company to foray into dynamic IoT security market
The shares of this AI-based company hit 5 percent upper circuit of Rs 915.25 after the company achieved a milestone by becoming an ioXt Authorized Lab. With a market capitalization of Rs 959.15 crore, the shares of TAC Infosec Ltd were trading at Rs 915.25 percent, increasing around 5 percent as compared to the previous [...]
Pharma stock in focus after commissioning new manufacturing plant in Maharashtra
In Wednesday’s trading session, the shares of one of the leading pharmaceutical companies in India surged by 2.5 percent day's trade after commissioning of a new production block at its Ambernath unit in Maharashtra, India with a Capex plan of Rs. 10 Crores. Price action With a market capitalization of 8,714.9 Crores on Wednesday, the [...]
Waste management stock in focus after receiving order from Anand Municipality
Waste Management stock engaged in providing Waste Management Solutions, Municipal Solid Waste Management services, and many more in focus upon receiving work order worth Rs. 4.55 Crores from Anand Municipality, for providing waste management services. Price Action With a market capitalization of Rs. 250 Crores, the shares of Urban Enviro Waste Management Limited were trading [...]
FMCG stock hits 5% upper circuit after receiving order worth ₹650 Cr from TATA Group
Smallcap stock engaged in the business activities of Construction and development of real estate projects and sourcing, importing, and exporting a wide range of products, hit a 5 percent upper circuit in the day’s trade upon receiving work order worth Rs. 650 Crores from TATA Agro & Consumer Products Price Action With a market capitalization [...]
Stock under ₹75 jumps 11% after JV with Shudh Investments to acquire UK based company
The shares of the leading tiles manufacturer gained up to 11 percent after the company entered into a Joint Venture Agreement to acquire shares of UK-based companies. With a market capitalization of Rs 938.55 crore, the shares of Asian Granito India Ltd were trading at Rs 74.05 per share, increasing around 6.27 percent as compared [...]
Stock hits 10% upper circuit after receiving order worth ₹450 Cr from M&M for EV Panels
The shares of the electrical control panels manufacturing hit 10 percent upper circuit after the company received a letter of business award (LoBA) from Mahindra & Mahindra Limited worth Rs 450 crore. With a market capitalization of Rs 388.52 crore, the shares of Saakshi Medtech & Panels Ltd were trading at Rs 220.05 per share, [...]
Metal stock to buy now for an upside of more than 30%; Do you own it?
According to Steelradar, India's sponge iron sector is a vital component of the steel industry, producing approximately 52 million tonnes in FY 2023-24, marking an 18% increase from the previous year. As the world's largest producer since 2003, India contributes 13% of global sponge iron output, primarily using coal-based methods. With a market capitalization of [...]
Infra stock under ₹150 hits upper circuit after it received ₹27 Cr order from Jindal Ferrous
In Tuesday’s trading session, the shares of one of the infrastructure solution provider in India hits 2 percent upper circuit in the day's trade after receiving a work order from Jindal Ferrous to supply of machines for the ongoing Blast Furnace Erection Commissioning Project Price action With a market capitalization of 219.81 Crores on Tuesday, [...]
Why are shares of Divi’s Lab, Neuland Lab, and other Pharma CDMO stock falling?
The recent softness in the US Biosecure Act is poised to impact several Indian companies, particularly the pharmaceutical and biotechnology sectors. As the Act aims to limit US partnerships with specific Chinese biotech firms, Indian companies like Divi's Labs, Neuland Labs, and Piramal Pharma stand to gain from increased business opportunities. However, uncertainties surrounding the [...]
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PM Modi says banks have to support wealth creators and job creators; work proactively to increase balance sheet of the country. PTI JD ANZ ANS ANS
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Banks have adequate liquidity, no overhang of NPAs: PM Narendra Modi on banking sector reforms by his government. PTI JD ANZ ANS ANS
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Rs 2 lakh cr of stressed assets likely to be resolved through National Asset Reconstruction Co: PM Modi. PTI JD ANZ ANS ANS
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Top Editor’s Pick
Why Mutual Funds Remain a Popular Choice in 2025
You’re not alone if you’ve been thinking more seriously about where your money goes. With daily expenses rising and long-term goals in sight, it’s only natural to look for ways to grow your savings without constant monitoring. That’s where mutual funds come into the picture. They’ve quietly remained a favourite for many over the years. [...]
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 [...]
Latest Market News
Tea exports fall marginally in FY22: Tea Board data
Export of tea during the last fiscal FY22 declined marginally to 200.79 million kilograms as compared to 203.79 million kilograms in the previous financial year, according to Tea Board data. Offtake by the CIS countries, the largest importer of Indian tea, fell to 42.48 million kilograms in the last fiscal, as against 49.08 million kilograms [...]
25 people convicted for money laundering in India till now: Data
A total of 25 people have been convicted by courts in the country for the offence of money laundering while more than 400 arrests have been made since the ED was empowered to investigate serious financial crimes about 17 years back. According to official data accessed by PTI, the Enforcement Directorate (ED) has filed as [...]
Sebi bans person from capital mkts, imposes fine in NIIT Technologies insider trading case
Sebi on Thursday barred one person from the capital markets for six months and imposed a penalty of Rs 12 lakh on him for indulging in insider trading in the shares of IT solutions company NIIT Technologies. Apart from these, the regulator has directed the person -- Arvind Mehrotra -- to disgorge loss avoided to [...]
Jio bp to set up EV charging, swapping infra at Omaxe properties
Jio-bp - the fuel retailing joint venture between Reliance Industries and supermajor bp - will set up EV charging and battery swapping stations at properties of real estate developer Omaxe in 12 cities as it looks to take mobility solutions to doorstep of users. In a statement to media, the firms said Omaxe will be [...]
High Profile Investors show interest in this healthcare stock which has fallen 55% in 5 months
The shares of Metropolis Healthcare Ltd. have halved in value since the start of 2022. Concerns over consolidation led by intensified competition and a broader sell-off in the technology stocks dragged the price down by 55% over the last five months. It was trading for ₹ 1,546 as of 12:35 IST. The diagnostics chain operator [...]
Crackdown on two Mumbai based entities trying to export wheat on fake LCs
In a crackdown on exporters who had submitted fraudulent letters of credit for wheat exports, the commerce ministry's arm DGFT has imposed monetary penalties on two Mumbai-based entities and decided to initiate criminal proceedings against them. The government has banned wheat exports on May 13, but allowed shipments for which Letters of Credit (LCs) have [...]
UltraTech to leverage Coolbrook’s electric tech to reduce CO2 emissions at plants
Leading cement maker UltraTech on Thursday announced the signing of an agreement with transformational technology firm Coolbrook to explore possibilities to cut CO2 emissions from its cement manufacturing operations. The Aditya Birla group firm has signed a memorandum of understanding (MoU) with Coolbrook to explore electrification of cement kiln heating process, said a joint statement. [...]
Cement demand to increase, optimism in industry, Committed to a CAPEX of Rs 9,000 cr, says Dalmia Bharat
Cement maker Dalmia Bharat Ltd has said that the government's continued focus on the infrastructure and housing sectors builds "optimism" for the cement industry and the company has committed to a capex of over Rs 9,000 crore to expand its manufacturing capacity over the next few years to meet the growing demand. According to the [...]
FreshR raises USD 1.2 million in new funding round
Fish and meat distribution startup FreshR has raised USD 1.2 million (Rs 9.33 crore) in a funding round led by Axilor Ventures and 1crowd, a release said on Thursday. FreshR would use the fresh funding to grow and expand its geographical footprint, develop and implement its tech stack as well as grow its team. "Building [...]
Crypto currencies yet to pass test of fiat currency: CEA
Sounding a note of caution, Chief Economic Adviser V Anantha Nageswaran said on Thursday that the crypto currencies have yet to pass the test to become fiat currency and at the same time it would be difficult to regulate them. He further said that unlike fiat money, crypto currencies cannot satisfy basic requirements such as [...]
4 stocks hit 20% upper circuit amid choppy markets
Domestic equity market benchmark indices lurched lower for four sessions in a row. They were trading marginally lower on Thursday. The thirty share index was hovering at 54,864.44 levels, down 0.051%, while the fifty share index was below 16,355.30 levels, down 0.020% at 11:35 hours IST. Amid the choppy movement in the markets, the shares [...]
Equity MFs continue to see positive momentum; Rs 18,529 cr inflow recorded in May
Witnessing positive momentum for the 15th straight month, equity mutual funds attracted a net sum of Rs 18,529 crore in May amid heightened volatility in stock markets and consistent selling by Foreign Portfolio Investors (FPIs). This was much higher compared to a net inflow of Rs 15,890 crore in April, data from the Association of [...]
Asian Paints near 52 week low; Should you BUY, SELL or HOLD? Here’s what analysts say
The shares of Asian Paints Limited are trading at ₹2666.00 levels, and are close to their 52-week low of ₹ 2599.35. Paint stocks were under pressure due to a spike in crude oil prices amid the Russia-Ukraine war. In addition, the share price of the company started falling after Aditya Birla Group firm Grasim Industries [...]
How Much Debt do Adani Group Companies have?
Gautam Adani ranks seventh on the list of the world’s richest people right after Mukesh Ambani. In the last three years, the business tycoon has become immensely popular and has amassed a huge amount of wealth. The regulatory scrutiny of the ownership structure of his listed companies had increased in October 2021, when Gautam Adani [...]
Future Enterprises defaults on Rs 1.41 cr interest payment for NCDs
Debt-ridden Future Enterprises Ltd (FEL) has defaulted on payment of interest of Rs 1.41 crore for its non-convertible debentures. The due date for payment was June 6, 2022, Future Supply Chain Solutions Ltd said in a regulatory filing on updates received from its promoter Future Enterprises Ltd (FEL). "The Company is unable to service its [...]
Air Products to build hydrogen, nitrogen unit for IOCL
Air Products, a world leader in industrial gases, on Wednesday said it has signed a long term supply agreement with the state-owned Indian Oil Corporation Limited (IOCL). "Air Products will build, own, and operate (BOO) a new industrial gases complex supplying hydrogen, nitrogen and steam to IOCL's Barauni Refinery in Bihar," the firm said in [...]
EMIs to rise as RBI hikes repo rate, signals more increase
Home, auto and other loan EMIs will rise after the Reserve Bank of India (RBI) on Wednesday raised the key interest rate by 50 basis points, the second increase in five weeks, to rein in a rise in prices that was seen continuing to hurt consumers in the near term. The increase in lending rate [...]
Multibagger Stock surges 13% in a Day and Hits 52 Week High
The shares of MRPL surged 13.18% on Wednesday’s early trades. They have touched a fresh 52-week high of ₹ 123.35 and are currently trading at ₹ 121.25 apiece on the NSE as of IST 11:03. The shares had a trading volume of 3,77,09,497 during the session. In the last four sessions, the company’s shares have [...]
RBI Gov asks people to approach local police for issues against unregistered digital lending apps
Customers borrowing from unregistered digital lending apps should approach the local police in case of any issue, Reserve Bank Governor Shaktikanta Das said on Wednesday, making it clear that the central bank will only act against entities registered with it. In remarks that came in the wake of a spate of alleged suicides abetted by [...]
Yes Bank begins process to form alternate board
Returning to profit in FY22 after witnessing heavy losses for two consecutive years, Yes Bank has kicked off the process of forming an alternate board as it has come out of the reconstruction scheme. The central government had notified the Yes Bank Reconstruction Scheme on March 13, 2020 after the private lender faced governance crisis [...]
Builders expect slowdown in housing demand in short term on RBIs rate hike
Housing demand is likely to be affected in short-term as home loans are set to become costlier following the RBI's decision to hike repo rate by 50 basis points, according to real estate developers. The cost of borrowing for developers could also increase, impacting their profit margins, they said, while hoping that the move would [...]
Top Stock Picks: 5 Blue chip stocks to buy for an upside of up to 50%
Benchmark Indices were trading marginally lower on Wednesday’s afternoon trades. The BSE Sensex slipped 0.40% to settle at 54,885.71 points, while the NSE Nifty tanked 0.35% and settled at 16,358.55 points. State Bank of India, Tata Steel, TCS, Bajaj Finserv and Apollo Hospitals were trading in the green. Bharti Airtel, ITC, Reliance, UPL, Asian Paints [...]
Porsche forays into pre owned car segment in India
German sports luxury car manufacturer Porsche on Wednesday said it has forayed into pre-owned car segment in India. The Porsche Approved programme is now available across India with a comprehensive warranty on pre-owned cars for a minimum of 12 months, including access to the 24-hour roadside service after passing a rigorous 111-point inspection, the automaker [...]
Top Gainers and Losers as the RBI Increases Repo Rates
The Reserve Bank of India's monetary policy committee (MPC) hiked the repo rate by another 50 basis points on June 8 as it continues to fight against inflation. With this, the repo rate stands at 4.9%. On May 4th, the RBI had hiked the repo rate by 40 bps and the CRR by 50 bps [...]
REL’s ex-chairman Sunil Godhwani arrested for alleged Rs 800cr fraud: Police
Former chairman and managing director of Religare Enterprises Limited (REL) Sunil Godhwani has been arrested in connection with a 2020 case related to fraud worth Rs 800 crore, police said on Tuesday. Godhwani, who was already in judicial custody in a case registered by the Economic Offences Wing of the Delhi Police for allegedly misappropriating [...]
PB Fintech co founder sells firms shares worth Rs 230 cr
PB Fintech co-founder and CEO Yashish Dahiya on Tuesday offloaded nearly 38 lakh shares of the company for Rs 230 crore through an open market transaction. PB Fintech operates the online insurance platform Policybazaar and credit comparison portal Paisabazaar. According to bulk deal data available with the National Stock Exchange (NSE), Dahiya sold a total [...]
Sebi tweaks cyber security, cyber resilience framework for stock brokers, depository participants
Capital markets regulator Sebi on Tuesday tweaked the cyber security and cyber resilience framework for stock brokers as well as depository participants and mandated them to conduct a comprehensive cyber audit at least once in a financial year. Along with the cyber audit reports, stock brokers and depository participants have been asked to submit to [...]
Sebi orders attachment of bank, demat accounts of Rose Valley, 4 others to recover over Rs 1,000 cr
Markets regulator Sebi has ordered attachment of bank accounts as well as share and mutual fund holdings of Rose Valley Hotels and Entertainment Ltd and its then directors to recover investors' dues totalling over Rs 1,000 crore. This recovery proceeding has been initiated against them to recover Rs 1,006.70 crore collected by the company through [...]
Mahendra Singh Dhoni invests in drone start up Garuda Aerospace
Ace cricketer Mahendra Singh Dhoni has picked up stake in drone start-up Garuda Aerospace, the company said on Tuesday. Garuda Aerospace is promoted by its founder-CEO Agnishwar Jayaprakash and has over 300 drones and 500 pilots operating in 26 cities. Prime Minister Narendra Modi had unveiled drone manufacturing facilities by the company recently. Dhoni was [...]
Neelachal Ispat Nigam acquisition crucial for Tata Steels growth trajectory: Official
Describing winning the bid for acquiring a majority stake in Odisha-based Neelachal Ispat Nigam Ltd (NINL) as "crucial" for the company's growth trajectory, Tata Steel on Tuesday said it provides enablers to go well beyond the 40 MTPA (million tonne per annum) target. Tata Steel arm - Tata Steel Long Products (TSLP)- had in January [...]
Govt plans to monetise assets worth Rs 75,220 crore in coal mining sector in FY23
The government plans to monetise assets worth Rs 75,220 crore in the coal mining sector in the current financial year. The monetisation of coal blocks is likely to generate a revenue of Rs 52,200 crore, followed by Rs 20,320 crore from projects on Mine Developer and Operator (MDO) model, Rs 2,000 crore from discontinued mines [...]
Ola in talks with multiple global suppliers for USD 1 bn cell manufacturing
SoftBank Group-backed Ola Electric is in talks with multiple global suppliers to build a battery cell manufacturing plant in India with a capacity of up to 50-gigawatt hours, sources said. As part of its broader electrification push, the firm plans to invest in companies with advanced cell and battery technology, alongside the 50 Gwh battery [...]
Essar pumps Rs 5,500 cr in CBM project, output crosses 0.8 mmscmd
Essar Oil and Gas Exploration and Production Ltd (EOGEPL) on Tuesday said coal seam gas (CBM) output from its Raniganj East block in West Bengal has crossed 0.8 million standard cubic meters per day and is on track to triple the production in 24-30 months. The company was previously handicapped by a lack of a [...]
India to ramp up coal output to reduce dependence on imports: Moody’s
Large coal-importing nations, including India, will look to ramp up the output of domestic coal to strengthen energy security and lessen dependence on the import of fossil fuels, Moody's Investors Service said on Tuesday. The government has recently mandated CIL to import coal as an emergency measure to avoid a shortage of coal for the [...]
A year on since launch, IT portal marred with another glitch; Infosys directed to fix issue
The Income Tax Department on Tuesday said software services provider Infosys has been directed to look into the issue relating to malfunction of search option on the e-filing portal. After many users complained of issues while accessing the I-T portal and reported that it was hacked on Tuesday, which also happens to be the first [...]
HDFC Bank hikes lending rates by 0.35%; 2nd hike in two months
The country's largest private sector lender HDFC Bank on Tuesday announced a 0.35 per cent hike in lending rate. The hike, which comes a day ahead of the RBI's scheduled policy review, is the second such move from the lender in as many months, taking the cumulative hike to up to 0.60 per cent. The [...]
₹82 to ₹247: Multibagger NBFC Stock has given 200% returns in a month
Multibagger Stock: The shares of Abhinav Capital Services Ltd were locked at a 5% upper circuit at ₹247.90 apiece, clocking their fresh 52-week high. They have been hitting the upper circuit for 22 sessions in a row! However, they touched their 5% lower circuit on Tuesday’s early trades and their share price declined after a [...]
Tea Board directs all producers, sellers to strictly comply with quality norms of FSSAI
The Tea Board, under the commerce ministry, has issued directions to all producers and sellers of the commodity to strictly comply with quality norms of food safety regulator FSSAI before selling the product, an official said. The board has cautioned that no tea consignment that has failed on Food Safety and Standards Authority of India [...]
Retail investors acting like shock absorbers in stock market: FM
Amid continuing volatility in the stock market, Finance Minister Nirmala Sitharaman on Tuesday said retail investors seem to act as shock absorbers even when foreign portfolio investors went away. Speaking at an event of the corporate affairs ministry as part of the Azadi ka Amrit Mahotsav, Sitharaman said that during the pandemic, there has been [...]
Anicut Capital raises Rs 110 cr to invest in startups
Investment management firm Anicut Capital on Tuesday said it has raised Rs 110 crore to acquire equity stakes in startups across sectors. This is the first close for the Rs 500-crore Anicut Opportunities Fund I. The fund will be deployed to take stakes in up to 15 growth stage companies, as per an official statement. [...]
Titan Shares fall 4.51%
Amid the global trends, Indian indices witnessed a weak start on Tuesday. Nifty50 opened with a gap down at 16,470 and it is currently down by 100(1.17%) points from its opening. Sensex also opened at a gap down at 55,377 points and is trading at 54,960 points. Titan Company Ltd which holds a 1.2% weightage [...]
Mitsubishi Electric to invest Rs 220 cr to set up factory in Maharashtra
Mitsubishi Electric Corporation on Tuesday said it will invest about Rs 220 crore (3.1 billion yen) in its Indian subsidiary to set up a new factory in Maharashtra. The new factory will be set up near Pune in Maharashtra. Its subsidiary Mitsubishi Electric India will manufacture inverters and other factory automation (FA) control system products, [...]
CBIC to destroy 42,000 kg narcotics on Wednesday
The Central Board of Indirect Taxes and Customs (CBIC) would destroy around 42,000 kilogram narcotics at 14 locations, including Guwahati, Mumbai and Siliguri, as part of 'Drug Destruction Day' to be observed on Wednesday, the finance ministry said. The Drug Destruction Day would be observed as a part of an iconic week of 'Azadi ka Amrit [...]
Adani Enterprises to set up hyper scale data centre park at Bengal Silicon Valley: Minister
West Bengal Industry Minister Partha Chatterjee on Monday said the state government has given its nod to Adani Enterprises for setting up a hyper-scale data centre park at Bengal Silicon Valley in the New Town area on the outskirts of the city. Addressing a press conference at the state assembly, Chatterjee said the cabinet gave [...]
Angel One demat customers cross 10 million mark
Domestic brokerage Angel One, formerly Angel Broking, crossed the 10-million customers mark in May, more than doubling its customer base over the past 12 months. In May alone, it added over 0.47 million new customers, taking its overall customer base to 10.10 million. On an annualised basis, the gross addition grew by 108.7 per cent [...]
Tamilnad Mercantile Bank gets nod from Sebi to float IPO
Private sector lender Tamilnad Mercantile Bank has received capital markets regulator Sebi's go ahead to mop-up funds through an initial share sale. The Initial Public Offer (IPO) comprises a fresh issue of 1,58,27,495 equity shares and an Offer For Sale (OFS) of up to 12,505 equity shares by shareholders, according to the Draft Red Herring [...]
Tata Power partners with Kolte Patil Developers to set up e-charging stations
Tata Power has partnered with real estate company Kolte-Patil Developers Ltd (KPDL) to set up e-charging stations across its projects in Pune, Mumbai and Bengaluru for the convenience of electric vehicle owners. As part of the wider green mobility adoption, EVs and the charging infrastructure play a key role to mitigate climate change challenges in [...]
Canara Bank, Karur Vysya raise lending rates
Canara Bank and Karur Vysya Bank on Monday said they have revised their lending rates leading to an increase in EMIs linked to the respective benchmarks. State-owned Canara Bank has raised the marginal cost of funds based lending rate (MCLR) by 0.05 per cent of 5 basis points to 7.40 per cent for one year [...]
SBI Card to raise Rs 2,500 cr via NCDs
SBI Cards and Payment Services (SBI Card) on Monday said its board has approved a proposal to raise Rs 2,500 crore by issuing non-convertible debentures (NCDs) to fund business growth. The fund would be raised in one or more tranches, SBI Card said in a regulatory filing. The NCD issuance would be done on a [...]
No proposal to replace face of Mahatma Gandhi on banknotes: RBI
Dismissing reports, the Reserve Bank on Monday said there is no proposal to replace the face of Mahatma Gandhi with that of others on currency notes. In a statement, the central bank said there are reports in certain sections of the media that the Reserve Bank of India is considering changes to the existing currency [...]
NCLAT stays insolvency proceedings against RHC Holding
The National Company Law Appellate Tribunal (NCLAT) has stayed the insolvency proceedings against RHC Holding, an entity promoted by former promoters of erstwhile Ranbaxy and Fortis Healthcare. RHC Holding is promoted by brothers -- Shivinder Singh and Malvinder Singh. A two-member NCLAT bench had admitted an appeal filed by Daiichi Sankyo against an order passed [...]
Top Stock Picks: 8 Stocks to BUY for an upside of up to 31%
Indian Benchmark indices are trading on a weaker side as of Monday. Nifty50 is currently trading at 16,465-16,580 range and Sensex is currently trading at 55,450-55,741. In a weak market, here are a few recommendations given by brokerages for an upside of up to 31%. The CMP recorded is as 06-06-2022. In a weak market, [...]
Maruti Suzuki sets up 20 MWp solar power plant at Manesar plant
Maruti Suzuki India (MSI) on Monday said it has set up a 20 MWp solar power plant at its Manesar-based manufacturing facility. The initiative will contribute 28,000 MW per annum, which is equivalent to the energy required for the production of over 67,000 cars annually. "Harnessing renewable energy is the need of the hour. We [...]
Need to make Indian banks, currency important part of int’l trade, supply chain: PM Modi
Prime Minister Narendra Modi on Monday stressed the need to make India's banks and currency an important part of the international trade and supply chain. He also exhorted financial institutions to continuously encourage good financial and corporate governance practices. Inaugurating the iconic week celebrations by the ministries of Finance and Corporate Affairs as part of [...]
NMDC shareholders, creditors to discuss Nagarnar Steel Plant demerger on Tuesday
Steel Ministry will convene a meeting of shareholders and creditors of state-owned NMDC on Tuesday to expedite the process of demerging the company's under construction Nagarnar Steel Plant (NSP). The Centre is aiming to complete the demerger of NSP from MMDC within the next four to five months, according to an official document. NMDC is [...]
Tata Motors to supply 10k XPRES-T EV units to BluSmart Electric Mobility
Tata Motors on Monday said it has bagged an order for supply of 10,000 XPRES-T EV units from BluSmart Electric Mobility. The deployment of 10,000 units makes this the biggest ever EV fleet order in India, the auto major said in a statement. With deliveries starting soon, these vehicles are an addition to the 3,500 [...]
Cyient to acquire Portugal-based Celfinet for about Rs 340 crore
IT solutions provider Cyient will acquire Portugal-based wireless engineering services firm Celfinet for 41 million euro (about Rs 340 crore) in an all-cash deal, the Hyderabad-headquartered company said on Monday. With this acquisition, Cyient aims to strengthen its wireless engineering practice to support communication service providers (CSPs) and enterprises in deploying their networks at scale. [...]
Automobile retail sales in slow lane in May: FADA
Retail sales of passenger vehicles grew last month but the sales of two-wheeler and commercial vehicles remained low compared to the pre-COVID month of May 2019, according to automobile dealers' body FADA. On Monday, FADA said that overall auto retails stood at 16,46,773 units in May, down from 18,22,900 units in May 2019. "May 2022 [...]
Cement stocks trade low on margin issues and other fears
After the announcement of Ultratech cement to increase their capital expenditure of ₹12,886 crores, in order to increase their capacity by the financial year 2025, the share of cement firms closed low on Friday. UltraTech Cement Ltd announced to increase of 22.6 mpta in its grinding capacity which would be nearly 17% of its capacity [...]
Bizarre Multibagger Stock keeps hitting lower circuit of 2% after giving 39,815% returns
The shares of SEL Manufacturing Company Ltd. gave multibagger returns of 39815.15% in less than one year as its share price surged from ₹ 4.95 to ₹ 1975.80 apiece on the NSE. However, the stock has been hitting a 2% lower circuit for 24 sessions. Further, it was observed that the 52-week high of the [...]
Market Recap: Petrol dealers on a strike, Vodafone share on a roll and More!
Indian indices started in the green on Monday and surged 1.9% due to strong buying interest in IT, auto and realty stocks amid positive global trends. The Sensex and Nifty advanced close to 2% tracking supportive trends from Asian peers. Further, restrictions were eased in China. The benchmark indices finished a volatile session on Friday [...]
Sun Pharma to expand field force in India by 10% this fiscal
Drug major Sun Pharma plans to increase its field force in the domestic market by 10 per cent in the current fiscal in order to drive twin objectives of brand focus and geographical expansion, according to a senior company official. The Mumbai-based drug major, which is the fourth largest specialty generic drug maker in the [...]
Tata Starbucks revenue up 76% to Rs 636 cr in FY22; reduces net loss significantly
Coffee chain operator Tata Starbucks Ltd has reported a 76 per cent growth in revenue to Rs 636 crore for 2021-22 and "significantly" reduced its net loss, driven by normalisation of operations following easing of COVID-related restrictions. Its revenue growth was led by higher realisation from existing stores and new stores added during the financial [...]
RBI policy, global trends to be key drivers for markets this week: Analysts
The RBI's policy decision would be the major event driving trading sentiment in the equity market this week, while global cues, foreign funds movement and crude oil prices will be the other key factors to watch out for, analysts said. Markets have been witnessing a rebound recently. However, the move lacks decisiveness amid lingering challenges [...]
Tata Motors looks to strengthen R&D capabilities with aggressive hiring this year
Tata Motors is gearing up to strengthen its R&D with fresh hiring as well as upskilling of the current employees this fiscal year in order to scale up capabilities across various business verticals, including the electric vehicle segment, as per a top company official. In the EV space, the company is looking to enhance its expertise [...]
Privatization: Companies that government is planning to sell
The government has shown its intent for privatization after selling Air India and finding a buyer for Neelachal Ispat. It has set a divestment target of ₹ 65,000 crores for this year. Hindustan Zinc Limited The Cabinet Committee on Economic Affairs has approved the sale of the government’s entire remaining stake in Hindustan Zinc Ltd [...]
Multibagger Stock: This Smallcap Steel Stock has jumped more than 1,100% a Year
The shares of Lesha Industries Ltd., an Ahmedabad based small-cap company have given multi-bagger returns over the previous year. The stock closed at its 52-week high of ₹ 29.05, up a whopping 1,186% from its year-ago price of ₹ 2.33. An investment of ₹ 1,00,00 in Lesha one year ago would be worth ₹ 11,04,002 [...]
Best Performing Mutual Funds in the past 3 Years
The Sensex touched its year high of 61,308 points on 17 January. But the rally did not last long and the markets were in throes of panic selling in the first half of March when it hit its low of 52,842. Another steep climb took the index up 14.70% in a matter of one month [...]
NTPC, Vedanta among 16 cos issued show cause notices for delays in mines operationalisation
The government on Friday said it has issued show cause notices to 16 companies, including NTPC, JSW Steel, Hindalco, Vedanta and Nalco, for delays in operationalisation of coal blocks. Show cause notices are issued from time to time to companies which do not adhere to the timelines prescribed in their agreements for timely operationalisation of [...]
Govt will take strict action against wheat exporters who submit back dated documents: Goyal
The government will take strict action against exporters who are trying to ship or have shipped wheat by submitting back-dated and improper documents following the ban on exports of the crop, Commerce and Industry Minister Piyush Goyal said on Friday. On May 13, the government banned wheat exports to control domestic prices. However, it allowed [...]
Sebi revokes securities market ban on Poonawalla Finance’s MD Abhay Bhutada in insider trading case
Sebi on Friday revoked the securities market ban imposed on Abhay Bhutada, Managing Director of Poonawalla Finance, in a case pertaining to alleged insider trading activities in the shares of Magma Fincorp, which is now known as Poonawalla Fincorp. After conducting a detailed investigation in the matter, Sebi found that "Abhay Bhutada had not communicated [...]
Essar Power sells transmission line to Adani Transmission for Rs 1,913 cr
Essar Power Ltd on Friday said it has agreed to sell one of its two electricity transmission lines to Adani Transmission Ltd for Rs 1,913 crore. The sale is a part of deleveraging strategy following which Essar has repaid over Rs 1.8 lakh crore to banks and financial institutions in the last three years - [...]
United Nations’ FAO planning food response for Sri Lanka amidst crisis
The UN food agency would be drafting a food crisis response plan for Sri Lanka amidst threats of a food shortage in the country due to its worst economic crisis. The response of the Food and Agriculture Organisation (FAO) of the United Nations came after Prime Minister Ranil Wickremesinghe had warned of a food crisis [...]
How Multibagger IPOs of 2021 are Performing in 2022?
As per the Global IPO report of Ernst & Young (EY), the year 2021 was the best year in terms of the amount raised for the Indian stock market in the last 20 years. The number of companies which raised funds increased 156% year on year basis to touch 110 figures in 2021, up from [...]
CoinSwitch unveils crypto benchmark index CRE8
Cryptocurrency investing application provider CoinSwitch has unveiled Crypto Rupee Index CRE8, to measure the performance of the Indian Rupee-based crypto market, the company said on Friday. The Crypto Rupee Index tracks the performance of crypto assets that represent over 85 per cent of the total market capitalisation of cryptocurrencies traded in Rupee, a press release [...]
Shares of Deepak Nitrite Down after Massive Fire Breaks Out at its Main Facility
The shares of Deepak Nitrite Limited, a Gujarat based chemical manufacturing company opened 4.40% below at ₹ 1,955.45 from their previous closing price of ₹ 2,045.80 in response to a massive fire that broke out at its facility at Nandesari Industrial Estate yesterday. As of 12:45 IST, the stock was trading at ₹ 1972.35, down [...]
NCLAT directs distribution of Rs 16,361 cr to IL&FS creditors on pro-rata basis
The National Company Law Appellate Tribunal has directed the new board of the debt-ridden IL&FS Group to distribute Rs 16,361 crore of cash and InvIT units available across the Group to its creditors on pro-rata basis. The interim distribution award of Rs 16,361 crore includes Rs 11,296 crore in cash and Rs 5,065 crore in [...]
Can Reliance Industries Break Its Record High?
Shares of Reliance Industries Ltd have managed to give positive returns to the investors in a volatile market and are inching closer to their record high of ₹2,855. Its shares hold a weightage of 11.17% in the Nifty50 index. The share is currently trading at ₹ 2,809.80 on the NSE and is up by 3.11% [...]
Aether Industries shares debut with 10% premium
Shares of speciality chemicals company Aether Industries on Friday listed with a premium of 10 per cent against its issue price of Rs 642. The stock made its debut at Rs 706.15, registering a jump of 9.99 per cent from the issue price at the BSE. It rallied 20.98 per cent to Rs 776.75. On [...]
Dividend Stock beats FD rates and gives a consistent dividend yield of 10%
On Thursday last week, auto components manufacturer, Goodyear India announced a dividend of ₹100 per share for the financial year ended March 31. It has recommended a final dividend of ₹ 20 per share and a special dividend of ₹80 per share. Within a week of this announcement, the shares of the company soared from [...]
Exports up 15.46% to USD 37.3 bn in May; trade deficit balloons to USD 23.33 bn
India's merchandise exports in May rose by 15.46 per cent -- the slowest in the last 15 months -- to USD 37.29 billion, while the trade deficit ballooned to USD 23.33 billion, the commerce ministry said on Thursday. The previous low was February 2021, when the country's exports grew by 0.67 per cent. Imports during [...]
How much have LIC investors lost since its listing?
LIC is India’s largest insurance company and it was one of the largest IPOs which was subscribed 2.95 times its amount of shares allocated. But it has struggled since its listing on the stock exchange. The company’s market cap has been reduced to ₹5.11 lakh crores from a market cap of ₹5.99 lakh crores from [...]
12 Stocks that will start trading Ex-dividend soon; Are you holding any?
Holding dividend stocks in your Demat account can help you receive passive income even when the markets are bearish. While buying the stocks for dividends, an important metric to look at is the dividend yield of the company. It is also important to note, that if investors want to receive dividends on certain shares, then [...]
Axis Bank Bank expects repo rate to rise to 5.75% by end of this fiscal
With inflation remaining at elevated levels, Reserve Bank of India (RBI) may gradually increase the benchmark lending rate to about 5.75 per cent by the end of this fiscal, Axis Bank chief economist Saugata Bhattacharya said on Thursday. He also said RBI may undertake front loading of interest rate hikes to tame inflation which have [...]
MG Motor, Castrol to join hands with Jio bp to explore mobility solutions for electric cars
MG Motor India and lubricant brad Castrol India are set to collaborate with Jio-bp to explore mobility solutions for electric cars, the automaker said in a statement on Thursday. Under the partnership, Jio-bp, MG Motor and Castrol will explore setting up four-wheeler EV charging infrastructure and expand Castrol’s existing auto service network to cater to [...]
NSE governance lapses case: SAT gives more time to Chitra Ramkrishna to deposit Rs 2 crore
The Securities Appellate Tribunal (SAT) has given more time to former NSE chief Chitra Ramkrishna for depositing an amount of Rs 2 crore in a case pertaining to governance lapses at the bourse. "The period to deposit the money by our order dated 11th April, 2022 is extended for a further period of four weeks," [...]
Multibagger penny stock is on an upper circuit spree; Up 730% in 6 months
The shares of Zenith Steel Pipes & Industries Ltd gave multibagger returns of 730.44 % in the past six months as their share price surged from ₹ 1.15 to ₹ 9.55. This means that if ₹1,00,000 was invested in the shares of the company six months ago, the value of the holdings would have been [...]
NMDC iron ore output grows over 14% to 3.2 MT in May
State-owned NMDC has registered over 14 per cent growth in its iron ore production at 3.2 million tonnes (MT) in May, the Ministry of Steel said on Thursday. NMDC had produced 2.8 MT of iron ore in May 2021. "Our consistent growth in production has not only made NMDC the fastest growing iron ore mining [...]
SEBI penalises Eicher Motors for flouting rules in issuance of duplicate certificate case
Capital markets regulator SEBI imposed a penalty of Rs 10 lakh on Eicher Motors on Wednesday for failing to exercise due diligence in a case pertaining to issuance of duplicate shares or new certificates. The company has been directed to pay the fine within 45 days, according to a an order issued by the Securities [...]
OYO adds over 1,250 new corporate clients since Mar
Travel tech firm OYO on Wednesday said it has added more than 1,250 corporate clients in the last three months, indicating that business travel in India may be rebounding post lifting of COVID-induced travel restrictions. The recovery is led by small and medium enterprises, traditional business houses and conglomerates, startups, travel management companies and film [...]
FMCG industry reports volume decline in Mar qtr as consumption slows: Report
The FMCG industry saw decline in volume in the January-March period as consumption was impacted by price increases, especially in the food and essentials categories, said a report by data analytics firm NielsenIQ. Rural India witnessed 5.3 per cent dip in volume in the period. This is the highest consumption slowdown in the last three [...]
TVS Motor May total wholesales at 3,02,982 units
TVS Motor Company on Wednesday reported total sales of 3,02,982 units in May. The company had posted a total sales of 1,66,889 units in the same month last year, TVS Motor Company said in a statement. The year-on-year growth is not comparable due to the low base of sales in May 2021, because of the [...]
Hero Electric expands partnership with Zypp Electric
Hero Electric on Wednesday said it has expanded its partnership with Zypp Electric to support the growth of the logistics and delivery segment. Under the partnership, Hero Electric will be deploying 1.5 lakh electric scooters for Zypp Electric’s fleet in the next three years. "We are standing today in the midst of a green revolution [...]
Maruti Suzuki total sales at 1,61,413 units in May
The country's largest carmaker Maruti Suzuki India (MSI) on Wednesday said its total wholesales in May stood at 1,61,413 units. The company had sold 46,555 units in May 2021, MSI said in a statement. Last month, the company's domestic sales rose to 1,34,222 units, as against 35,293 units in May 2021, it added. "The sales [...]
Tata Motors sales surge nearly three folds to 76,210 units in May
Tata Motors on Wednesday said its total sales jumped nearly three folds in May to 76,210 units compared to 26,661 units in COVID-hit May 2021. The company's domestic sales increased three folds to 74,755 units from 24,552 units in May 2021, Tata Motors said in a statement. Total passenger vehicle dispatches to dealers more than [...]
Welspun Enterprises bags Rs 4,636 cr order from civic body BMC
Welspun Enterprises Ltd (WEL) on Wednesday said it has received its single-largest order of Rs 4,636 crore from civic body Brihanmumbai Municipal Corporation (BMC) for the Dharavi Wastewater Treatment Facility. This takes the outstanding order book of the company to around Rs 12,500 crore, of which Rs 6,500 crore is in the water sector and [...]
Ashok Leyland sales jump four fold in May
Hinduja flagship firm Ashok Leyland on Wednesday reported a four-fold jump in total commercial vehicle sales at 13,273 units in May. The company had sold 3,199 units in the COVID-hit May last year, Ashok Leyland said in a regulatory filing. Domestic sales stood at 12,458 units, as against 2,738 units in May 2021, it added. [...]
Kia India sales rise 69% in May at 18,718 units
Automaker Kia India on Wednesday said its sales increased 69 per cent year-on-year to 18,718 units in May. The company had dispatched 11,050 units to dealers amid second wave of COVID-19 in May 2021. The Sonet became the highest contributor to the company's overall sales with 7,899 units, followed by Seltos (5,953 units), Carens (4,612 [...]
Skoda Auto sales jump over six folds to 4,604 units in May
Skoda Auto India on Wednesday reported an over six-fold increase in sales at 4,604 units in May. The company had sold 716 units in the COVID-hit May last year, Skoda Auto India said in a statement. “It is heartening for us at Skoda that despite challenges posed by the semiconductor shortage, we are maintaining momentum [...]
Top Stock Picks: 6 Stocks to watch during monsoon season
As the southwest monsoon has hit Kerala, a few farm-related stocks are back to focus. Good monsoons tend to increase rural demand, and analysts say that if the monsoon goes well this year, one may see a lift in farm income and thus the demand especially when the food prices are rising. "Normal to good [...]
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