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Company Update : Kotak Mahindra Bank Ltd by LKP securities Ltd Kotak Mahindra Bank (KMB) has shown a decline in performance over the last three years (3Y return: -7.4, 1Y return: -13.3%) compared to the returns of Bank Nifty (3Y return: 37.4%, 1Y return: 11.5%) and Nifty (3Y return: 43.6%, 1Y return: 21.6%). This underperformance can be attributed to several factors, including the stepping down of Mr. Uday Kotak, slower business growth relative to Kotak’s usual standards, and supervisory actions by the RBI. However, the bank has maintained strong a...
Company Update : Kotak Mahindra Bank Ltd by LKP securities Ltd
Company Update : Kotak Mahindra Bank Ltd by LKP securities Ltd
Source: LKP securities Ltd
2024-06-03 06:02:49 pm
Company Update : Vedanta Ltd - Yes Securities Ltd We attended the analyst day meet at Vedanta Ltd held on the 27th of February 2024. The analyst meet focused on the demerger story and potential value unlocking from the same. The meet also laid out the expansion plans under different verticals for the company. At the CMP, the company currently trades at 5.01x EV/EBITDA at FY24E as per Bloomberg estimates. Demerger aimed to unlock potential value On 29th September 2023, the Vedanta board approved a pure-play, asset-owner business model ...
Company Update : Vedanta Ltd - Yes Securities Ltd
Company Update : Vedanta Ltd - Yes Securities Ltd
Source: Yes Securities Ltd.
2024-05-27 12:47:19 pm
Company Update : Ramkrishna Forgings Ltd - Yes Securities Ltd View & Valuation In its investor day, Ramkrishna Forgings (RMKF), reemphasized its focus to diversify revenue base from CV to other segments of auto (2W, PV, OHT) and non-auto (Oil and gas, railways and mining). RMKF targets revenues of Rs45-48b by FY26E (v/s ~Rs26b in 9MFY24). This will be led by standalone business (~62% incremental contribution) and balance by recently acquired entities such as, 1) MACL-JMT revenues to be at Rs6-6.75b in FY26E (v/s Rs1.75-2.25b annualized in FY24E) ...
Company Update : Ramkrishna Forgings Ltd - Yes Securities Ltd
Company Update : Ramkrishna Forgings Ltd - Yes Securities Ltd
Source: Yes Securities Ltd.
2024-05-27 12:43:44 pm
Company Update: Tata Consumer Products Ltd - JM Financial Institutional Securities Limited Going aggressive on white spaces TCPL’s acquisitions of Capital Foods and Organic India signify aggression to tap white spaces with a clear intent to build a more comprehensive premium F&B portfolio with high growth potential. The acquisitions are at c.6.8x and c.5.2x FY24E sales of Capital Foods and Organic India vs TCPL’s own valuation at c.7x at CMP, c.5-5.5x at 3-6M ago prices, and add c.6% to TCPL’s Sales and EBITDA. Capital Foods has scaled well in the past (5-y...
Company Update: Tata Consumer Products Ltd - JM Financial Institutional Securities Limited
Company Update: Tata Consumer Products Ltd - JM Financial Institutional Securities Limited
Source: JM Financial Institutional Securities Ltd
2024-01-27 12:16:42 pm
Rise in oil prices can hinder market rally of last 2 months  A gradual rise in oil prices along with concern over high domestic food inflation may pose a hindrance to the stretched rally of the last two months, Vinod Nair, Head of Research at Geojit Financial Services, said on Thursday. After a subdued start, the market reversed from the day’s low amid buy-on-dips strategy. However, the overall trend remained subdued, FIIs stayed muted ahead of festive break and global market traded on a negative note ahead of the announcement of the US ...
Rise in oil prices can hinder market rally of last 2 months
Rise in oil prices can hinder market rally of last 2 months
Source: IANS
2023-12-21 05:06:40 pm
Company Update : JB Chemicals & Pharmaceuticals By Elara Capital More acquisitions; organic growth concerns persist As per media reports, JB Chemicals & Pharmaceuticals (JBCP IN) is set to acquire a portfolio of eye care (ophthalmology) products from Novartis India. Media reports suggest that portfolio has an annual revenue of INR 4-5bn and the price will be ~INR 10bn. This works out to 2.0-2.5x sales, broadly in line with the recent deals in the domestic market. We downgraded our rating on JBCP to Reduce after the Q2FY24 results based on rich valua...
Company Update : JB Chemicals & Pharmaceuticals By Elara Capital
Company Update : JB Chemicals & Pharmaceuticals By Elara Capital
Source: Elara Capital
2023-12-14 11:43:33 am
Company Update : Astra Microwave Products By Elara Capital Moving up the value chain Specialized deep technology firm in strategic electronics Astra Microwave (ASTM IN), set up in 1991, is engaged in designing, developing, and manufacturing microwave & RF systems, sub-systems and components. It has five manufacturing facilities at Hyderabad in Telangana. It caters to key segments of defence, space, meteorology, and exports. The company aims to move up the value chain from sub-systems to systems, and wants to provide complete solutions ...
Company Update : Astra Microwave Products By Elara Capital
Company Update : Astra Microwave Products By Elara Capital
Source: Elara Capital
2023-12-14 10:57:16 am
Update On : Greaves Cotton Limited - ARETE Securities We interacted with management of Greaves Cotton limited, Mr. Sanjay Behl -CEO& Executive director of Greaves Electric Mobility, Mr. Chandrasekar Thyagarajan - CFO of Greaves Electric Mobility and Dr. Arup Basu - MD of Greaves Engineering. Greaves Cotton Limited manufactures internal combustion engines, power generation equipment and power transmission systems. The Company also manufactures mining, oilfield, construction and materials handling equipment, integrated systems and electronics....
Update On : Greaves Cotton Limited - ARETE Securities
Update On : Greaves Cotton Limited - ARETE Securities
Source: ARETE Securities Ltd
2023-12-04 03:14:55 pm
Gold gains as dollar, yields slip after Fed keeps rates steady Gold prices edged higher on Thursday, as the U.S. dollar and bond yields slipped after the Federal Reserve held interest rates steady and acknowledged the tighter financial conditions faced by businesses and households. FUNDAMENTALS * Spot gold was up 0.2% to $1,985.99 per ounce by 0147 GMT and U.S. gold futures gained 0.3% to $1,993.80. * The Fed held interest rates steady on Wednesday as policymakers struggled to determine whether financial conditions may be tight enough already to...
Gold gains as dollar, yields slip after Fed keeps rates steady
Gold gains as dollar, yields slip after Fed keeps rates steady
Source: Reuters
2023-11-02 09:12:13 am
Dollar shines as oil surge spooks investors ?Oil prices scaled one-year highs on Thursday, while world stocks eyed their longest losing streak in two years as worries deepened about persistently high interest rates, sending investors to shelter in the safety of a surging U.S. dollar.A surprisingly big drop in crude stocks at Cushing, Oklahoma, stoked concern that fuel demand is outstripping production right when markets least needed another supply-side shock.U.S. crude rose 3.6% overnight and another 1% on Thursday to hit $95 a barrel ...
Dollar shines as oil surge spooks investors
Dollar shines as oil surge spooks investors
Source: Reuters
2023-09-28 08:58:47 am
Rupee likely to decline on yuan-led weakness in Asia fx The Indian rupee is expected to drop at the opening on Monday, tracking losses in Asian peers and on persisting worries over U.S. yields. Non-deliverable forwards indicate rupee will open at around 83.18-83.20 to the U.S. dollar, compared with 83.1025 in the previous session. The rupee has been flirting with the record low of 83.29 but has been avoiding amid intervention by the Reserve Bank of India. Despite the RBI's efforts, it "does feel inevitable" that the rupee wi...
Rupee likely to decline on yuan-led weakness in Asia fx
Rupee likely to decline on yuan-led weakness in Asia fx
Source: Reuters
21/08/2023 9:08:51 AM
Gold firms as dollar, yields fall before US inflation test Gold prices firmed on Monday after a slower-than-expected U.S. job growth data knocked the dollar and bond yields off their recent highs, as investors brace for this week's inflation test that could influence the Federal Reserve's policy path. FUNDAMENTALS * Spot gold was steady at $1,942.33 per ounce by 0130 GMT, off an over three-week low hit in the last session. U.S. gold futures rose 0.1% to $1,977.20. * The U.S. dollar index fell and benchmark 10-year Treasury yields sli...
Gold firms as dollar, yields fall before US inflation test
Gold firms as dollar, yields fall before US inflation test
Source: Reuters
7/08/2023 9:12:44 AM
Rupee to recover on pullback in US yields after jobs data The Indian rupee is expected to recover on Monday on the back of a pullback in U.S. yields and the decline in the dollar after the U.S. economy added fewer jobs than was forecast. Non-deliverable forwards indicate rupee will open at around 82.70 to the U.S. dollar, compared with 82.84 in the previous session. The dollar index retreated 0.4% on Friday. Asian currencies began the week on a higher note. There will be relief for the rupee at the open "to an extent," with dollar...
Rupee to recover on pullback in US yields after jobs data
Rupee to recover on pullback in US yields after jobs data
Source: Reuters
7/08/2023 9:04:42 AM
RBI to withdraw Rs 2,000 currency notes; to continue as legal tender The Reserve Bank of India (RBI) on Friday said that it will withdraw the Rs 2,000 denomination banknote from circulation but it will continue as legal tender. In a statement, the RBI said: "The 2,000 denomination banknote was introduced in November 2016 primarily to meet the currency requirements of the economy in an expeditious manner after the withdrawal of legal tender status of all 500 and 1,000 banknotes in circulation at that time. It also said that all banks shall provide de...
RBI to withdraw Rs 2,000 currency notes; to continue as legal tender
RBI to withdraw Rs 2,000 currency notes; to continue as legal tender
Source: IANS
20/05/2023 9:12:50 AM
Gold firms, traders look to U.S. inflation data for Fed policy path Gold prices ticked up on Monday as the dollar eased and economic risks prevailed, while investors prepared for U.S. inflation data to gauge the Federal Reserve's policy path. Spot gold rose 0.3% to $2,022.01 per ounce by 1156 GMT. U.S. gold futures were up 0.3% to $2,030.40. The dollar index dipped 0.1%, making bullion more attractive to overseas buyers. [USD/] "Gold remains supported as markets are still wary of further U.S. financial instability, which would only ampl...
Gold firms, traders look to U.S. inflation data for Fed policy path
Gold firms, traders look to U.S. inflation data for Fed policy path
Source: Reuters
8/05/2023 7:00:54 PM
Gold eases after inflation data reinforces rate hike bets Gold inched lower on Friday after a rise in U.S. inflation in March buoyed the dollar and reinforced bets for an interest rate hike next week, but banking sector concerns kept bullion on course for a small monthly rise. Spot gold edged 0.2% lower to $1,984.09 per ounce by 9:05 a.m. EDT (1305 GMT), but was up 0.8% for the month. U.S. gold futures eased 0.3% to $1,993.20. The U.S. core personal consumption expenditures (PCE) index, the Federal Reserve's preferred inflation gauge, rose...
Gold eases after inflation data reinforces rate hike bets
Gold eases after inflation data reinforces rate hike bets
Source: Reuters
28/04/2023 7:09:26 PM
Rupee little changed as Asian FX struggle against dollar  The Indian rupee was flat on Friday, pulling back from slight gains made at the open and continuing the trend to weaken less than its Asian peers which fell against a steady c. The rupee was barely changed at 82.7450 per dollar by 10:55 a.m. IST, after opening slightly higher at 82.68. Its Asian peers like the Thai baht and the South Korean won declined 0.3% and 0.4%, respectively. The rupee has stayed in a narrow range in February, outperforming its peers due to the Reserve Ba...
Rupee little changed as Asian FX struggle against dollar
Rupee little changed as Asian FX struggle against dollar
Source: Reuters
24/02/2023 12:19:24 PM
Indian rupee seen struggling to rise much in coming months The Indian rupee, one of the worst-performing Asian currencies last year, is forecast to strengthen very little in coming months and still trade above the 80 per dollar mark a year from now, a Reuters poll of foreign exchange strategists found. Although India is the fastest-growing major economy, with growth slowing but still expected at 6.0% in fiscal 2023/24, that relative strength is not reflected in the currency. Underlying economic problems, including a reliance on imported oil and pe...
Indian rupee seen struggling to rise much in coming months
Indian rupee seen struggling to rise much in coming months
Source: Reuters
7/02/2023 10:20:06 AM
9.2 lakh metric tonnes of wheat sold through e-auction by FCI Over 1,150 bidders participated in the first week of e-auction of wheat and a quantity of 9.2 lakh metric tonnes was sold across the country by Food Corporation of India (FCI). In the first week of e-auction, quantities ranging from of 100 to 499 million tonnes attracted maximum demand. After this, the demand was for quantities of 500-1,000 million tonnes, followed by that of 50-100 million tonnes, thus indicating that small and medium flour millers and traders actively participated in ...
9.2 lakh metric tonnes of wheat sold through e-auction by FCI
9.2 lakh metric tonnes of wheat sold through e-auction by FCI
Source: IANS
3/02/2023 5:01:09 PM
Import of low quality copper scrap at lower price causing adverse impact on quality of end-products: FIMI Federation of Indian Mineral Industries (FIMI) has said that the import of low quality copper scrap at lower price is causing adverse impact on the quality of end-products which are used in critical applications like housing, wire and coil applications which are prone to fire hazards due to lower conductivity and high resistance of such scrap-made copper wires. The statement came after finance minister Nirmala Sitharaman in her Budget speech announced that the concessional basic customs du...
Import of low quality copper scrap at lower price causing adverse impact on quality of end-products: FIMI
Import of low quality copper scrap at lower price causing adverse impact on quality of end-products: FIMI
Source: Accord Fintech
3/02/2023 12:36:17 PM
Rupee seen tad weaker on risk-off mood ahead of budget, Fed The Indian rupee is expected to weaken on Tuesday, as the dollar gained on tepid risk appetite, with investors keeping tabs on the Adani Group saga, the upcoming Union budget and global central bank meetings. The rupee was seen around 81.60-81.65 per dollar in early trades, compared to its previous close of 81.4950. The currency's future direction will be clear once the risk events this week are out of the way and we are likely to continue see rangebound moves until then, said a tra...
Rupee seen tad weaker on risk-off mood ahead of budget, Fed
Rupee seen tad weaker on risk-off mood ahead of budget, Fed
Source: Reuters
31/01/2023 8:56:11 AM
Dollar ticks up ahead of central bank meetings next week The dollar edged up on Friday to pull away from multi-month lows against the euro and sterling, as investors began to train their sights on a slew of major central bank meetings next week. The U.S. Federal Reserve, European Central Bank and Bank of England are all due to make rate decisions next week as they judge what policy adjustments may be required in their battle with rampant inflation against a tough global economic backdrop. Currency analysts said they did not expect big moves t...
Dollar ticks up ahead of central bank meetings next week
Dollar ticks up ahead of central bank meetings next week
Source: Reuters
27/01/2023 8:47:28 AM
Oil rebalances on stronger dollar and economic outlook LONDON -Oil prices rebalanced on Friday after an early $1 rally as a stronger dollar and weaker economic outlook weighed while hopes of a Chinese demand boost limited losses. Brent crude futures fell 24 cents, or 0.3%, to $78.45 a barrel by 1231 GMT. U.S. West Texas Intermediate crude futures were down 24 cents, or 0.33%, at $73.43. Both contracts rose by more than $1 earlier in Friday's session but fell as the dollar rose to a one-month high. A stronger dollar can crimp deman...
Oil rebalances on stronger dollar and economic outlook
Oil rebalances on stronger dollar and economic outlook
Source: Reuters
6/01/2023 6:34:43 PM
Yen holds on to gains as traders digest BOJ surprise policy tweak The yen eased a bit on Wednesday but held on to most of its overnight gains against the dollar as traders contemplated the shock Tuesday move by the Bank of Japan to adjust its control of bond yields, a slight move away from its ultra-easy monetary policy. The BOJ decided to let long-term yields move 50 basis points either side of its 0% target, wider than the 25 basis point band previously imposed, even as it kept broad policy settings unchanged. On Wednesday, the yen weakened 0.34% ve...
Yen holds on to gains as traders digest BOJ surprise policy tweak
Yen holds on to gains as traders digest BOJ surprise policy tweak
Source: Reuters
21/12/2022 8:58:07 AM
Gold price picked up in November, stays attractive in December: Experts Gold will be attractive one this month with the increase in global prices in recent times, said experts in their outlook for the yellow metal. "Gold has picked up in price action massively, rising by nearly $60 /oz in the last two weeks alone to trade around $1800 levels. The rise in prices is largely due to the dovish commentary by the Fed on its monetary policy," said Colin Shah, Founder & MD, Kama Jewelry. According to Shah, the metal looks set to extend recent gains, d...
Gold price picked up in November, stays attractive in December: Experts
Gold price picked up in November, stays attractive in December: Experts
Source: IANS
3/12/2022 9:46:44 AM
Dollar rebounds as Fed officials say hikes to continue; yen slumps The U.S. dollar climbed versus the yen and stayed firm against other major peers on Tuesday as more Federal Reserve officials made the case for even tighter U.S. monetary policy. The greenback edged up against sterling and hovered more than 1% above its two-month trough to the euro after Fed Vice Chair Lael Brainard on Monday echoed weekend comments by Fed Governor Christopher Waller that interest rates need to keep rising to battle inflation, although potentially at a slower pace. The ...
Dollar rebounds as Fed officials say hikes to continue; yen slumps
Dollar rebounds as Fed officials say hikes to continue; yen slumps
Source: Reuters
15/11/2022 12:19:42 PM
Gold slips as dollar gains, investors assess Fed stance By Arundhati Sarkar Gold retreated on Monday as the dollar climbed, while investors looked for hints on a shift in Federal Reserve monetary policy which has so far kept a leash on bullion prices. Spot gold fell 0.4% to $1,649.51 per ounce by 1247 GMT. U.S. gold futures eased 0.1% to $1,653.90. Expectations that some Fed officials were debating a pause in the rapid pace of interest rate hikes helped gold rally on Friday as the U.S. dollar eased. "Gold remains pretty much at th...
Gold slips as dollar gains, investors assess Fed stance
Gold slips as dollar gains, investors assess Fed stance
Source: (Reuters)
24/10/2022 6:40:06 PM
Oil prices drop as Chinese demand data disappoints By Noah Browning LONDON -Oil prices slid on Monday after Chinese data showed that demand from the world's largest crude importer remained lacklustre in September as strict COVID-19 policies and fuel export curbs depressed consumption. Brent crude futures for December settlement were down $1.17, or 1.3%, at $92.33 a barrel by 1217 GMT, after rising 2% last week. U.S. West Texas Intermediate crude for December delivery was at $83.65 a barrel, down $1.40, or 1.7%. Although higher th...
Oil prices drop as Chinese demand data disappoints
Oil prices drop as Chinese demand data disappoints
Source: (Reuters)
24/10/2022 6:17:16 PM
India’s RBI likely sold dollars, received forwards to stem rupee’s drop - traders The Reserve Bank of India likely sold dollars via state-run banks on Tuesday and conducted buy/sell swaps to limit the rupee's losses, three traders told Reuters. The rupee was last trading at 82.3850, down from 82.32 in the previous session after hitting a record low of 82.6825 on Monday. The rupee has traded in a narrow range of about 8 paisa so far in the session. In comparison, the Korean won is down 1.7% and the offshore Chinese yuan had declined 0.5% to the dollar. The rela...
India’s RBI likely sold dollars, received forwards to stem rupee’s drop - traders
India’s RBI likely sold dollars, received forwards to stem rupee’s drop - traders
Source: Reuters
11/10/2022 9:06:00 AM
Gold pares gains as dollar strength, rate-hike fears dominate mood  Gold prices pared gains on Tuesday under pressure from concerns about rapid interest rate hikes to tame inflation and an overall stronger U.S. dollar. Spot gold was up 0.2% at $1,713.59 per ounce as of 1220 GMT. Prices hit a one-week high, rising nearly 1%, earlier in the session. U.S. gold futures were little changed at $1,724.10. "Ultimately, spot gold is set to remain beholden to shifting expectations surrounding the Fed's ongoing battle against inflation," sai...
Gold pares gains as dollar strength, rate-hike fears dominate mood
Gold pares gains as dollar strength, rate-hike fears dominate mood
Source: Reuters
6/09/2022 8:21:50 PM
Oil falls as demand fears return after OPEC-led rally LONDON -Oil fell on Tuesday after a two-day rally as concern returned about weaker demand and the prospect of more interest rate hikes, trumping support from OPEC+'s first output target cut since 2020. New COVID-19 lockdowns in China have added to worries that high inflation and rate hikes will hit demand. The European Central Bank is widely expected to lift rates sharply when it meets on Thursday. [MKTS/GLOB] Brent crude was down $2.13, or 2.2%, to $93.61 at 1338 GMT. U.S. West Tex...
Oil falls as demand fears return after OPEC-led rally
Oil falls as demand fears return after OPEC-led rally
Source: Reuters
6/09/2022 7:59:54 PM
Holiday Inn Express Hotel at IGI Airport goes up for sale New Delhi, Sep 2  The Holiday Inn Express hotel, situated at Terminal 3 of the national capital's Indira Gandhi International Airport, is up for sale at an asking price of Rs 230 crore, as per media reports. According to reports, the 93-room hotel is controlled by Devraya Hospitalities, which is a fully-owned subsidiary of Radius Developers. Radius Developers was admitted under the National Company Law Tribunal last year, the reports said, attributing that this may be the reaso...
Holiday Inn Express Hotel at IGI Airport goes up for sale
Holiday Inn Express Hotel at IGI Airport goes up for sale
Source: IANS
2/09/2022 8:27:38 PM
UK clears $8.1 bn merger between NortonLifeLock and Avast London, Sep 2 The UK's Competition and Markets Authority (CMA) on Friday approved the $8.1 billion merger between cybersecurity companies NortonLifeLock and Avast. NortonLifeLock and Avast both offer cyber safety software to consumers under a variety of different brands, like antivirus software, privacy software (such as VPNs) and identity protection software. The companies announced plans to merge in a $8.1 billion deal in August 2021. "After reviewing the evidence in an in...
UK clears $8.1 bn merger between NortonLifeLock and Avast
UK clears $8.1 bn merger between NortonLifeLock and Avast
Source: IANS
2/09/2022 8:16:36 PM
With 87% growth, insurance sector drives hiring activity in India: Report New Delhi, Sep 2  Hiring activity remained stable at 6 per cent year-on-year (YoY), while the insurance sector was a driving force as it grew by 87 per cent in August this year as compared to last year in India, a report said on Friday. According to a report by Naukri JobSpeak, the insurance sector continued to grow in hiring over the last year for the seventh time in a row. "After witnessing an extravagant growth rate in the last 2-3 months, hiring activity is seeing signs of...
With 87% growth, insurance sector drives hiring activity in India: Report
With 87% growth, insurance sector drives hiring activity in India: Report
Source: IANS
2/09/2022 7:31:29 PM
Hyundai, Kia global sales rise in August despite chip shortage Sep 1  Hyundai Motor, South Korea's biggest carmaker, said on Thursday that its sales rose 12 per cent in August from a year earlier despite an extended chip shortage. Its subsidiary Kia's sales also went up 10 per cent last month from a year earlier despite an extended chip shortage. Hyundai sold a total of 334,794 vehicles in August, up from 300,004 units a year earlier on robust overseas demand for its models, the company said in a statement. Domestic sales fell 3.5 p...
Hyundai, Kia global sales rise in August despite chip shortage
Hyundai, Kia global sales rise in August despite chip shortage
Source: IANS
1/09/2022 7:17:17 PM
India's Q1 GDP logs 13.5% growth, experts say lower than expected India's economic growth rose to 13.5 per cent in the first quarter of the current fiscal (2022-23), a huge jump from 4.1 per cent growth recorded in the final quarter of 2021-22. However, experts said that the GDP growth number was lower than what the market had expected earlier. This is the first double digit growth in GDP figures in a year, as the last double digit growth was 20.1 per cent recorded in first quarter of 2021-22. "Real GDP or Gross Domestic Product (GDP) at c...
India's Q1 GDP logs 13.5% growth, experts say lower than expected
India's Q1 GDP logs 13.5% growth, experts say lower than expected
Source: IANS
1/09/2022 11:42:41 AM
Akasa Air's financial muscle: Can induct 72 aircraft over next 5 yrs Chennai, Aug 17  India's new private airline Akasa Air founded by late broker-investor Rakesh Jhunjhunwala on Wednesday said that it has financial means to induct 72 aircraft over the next five years. The company added that it has received its third aircraft in Delhi which will be put into operation on the Mumbai-Bengaluru sector shortly. "We will continue to grow our fleet by adding one new aircraft every two weeks," Vinay Dube, Founder and CEO said in a stateme...
Akasa Air's financial muscle: Can induct 72 aircraft over next 5 yrs
Akasa Air's financial muscle: Can induct 72 aircraft over next 5 yrs
Source: IANS
17/08/2022 6:33:54 PM
Barmer oil field: SC issues notice to Centre on Vedanta Ltd's appeal New Delhi, Aug 12 (IANS) The Supreme Court on Friday issued notice to Centre on an appeal filed by Vedanta Ltd, challenging a Delhi High Court order in connection with a production sharing contract (PSC) of Vedanta and ONGC to produce oil from the Barmer oil field in Rajasthan. Senior advocate Harish Salve represented Vedanta in the top court. After hearing Salve's submissions, a bench, headed by Chief Justice N.V. Ramana and comprising Justice Krishna Murari, said: "Issue...
Barmer oil field: SC issues notice to Centre on Vedanta Ltd's appeal
Barmer oil field: SC issues notice to Centre on Vedanta Ltd's appeal
Source: IANS
12/08/2022 7:26:48 PM
Cloud virtualisation provider Nutanix lays off 270 employees New Delhi, Aug 11 (IANS) Cloud virtualisation provider Nutanix has announced to lay off 270 employees, which represents 4 per cent of its global workforce. The company said the decision has been taken following a review of its business structure and after taking other cost-cutting measures to reduce expenses. "The headcount reduction is part of the company's ongoing efforts to drive towards profitable growth. The company expects to complete substantially all of the headcou...
Cloud virtualisation provider Nutanix lays off 270 employees
Cloud virtualisation provider Nutanix lays off 270 employees
Source: IANS
11/08/2022 7:01:30 PM
Rupee weakens against US dollar on Thursday Indian rupee weakened against the US dollar on Thursday as the American currency advanced at overseas markets. Rupee fell further, despite official data showed US inflation slowed down from a 40-year high in June to 8.5 percent in July that raised bets of less aggressive interest rate hikes. Although, recovery in domestic markets from lower levels and foreign fund inflows supported the local domestic unit and capped further fall in rupee. Foreign Institutional Investors (FIIs) have net bought...
Rupee weakens against US dollar on Thursday
Rupee weakens against US dollar on Thursday
Source: Accord Fintech
11/08/2022 1:01:14 PM
Indian rupee hits record low on current account deficit concerns The Indian rupee hit a record low against the U.S. dollar on Tuesday as concerns of a wider current account deficit came to the forefront after the country's trade deficit hit an all-time high in June. Data late on Monday showed India's June trade deficit widened to a record high of $25.63 billion, following a rise in crude oil and coal imports, from $9.61 billion a year earlier. Analysts and economists are expecting the country's current account deficit to widen to around 3...
Indian rupee hits record low on current account deficit concerns
Indian rupee hits record low on current account deficit concerns
Source: Accord Fintech
6/07/2022 12:36:59 PM
Rupee weakens against US dollar on Monday Indian rupee weakened marginally against the US dollar on Monday, tracking weak equities and persistent foreign fund outflows in the capital market. Foreign Institutional Investors (FIIs) were net sellers in the capital market on Friday as they offloaded shares worth Rs 3,770.51 crore, as per stock exchange data. Moreover, elevated crude oil prices also weighed on rupee sentiments. In the view of rising inflation, the Reserve Bank of India is expected to hike the benchmark lending rate during...
Rupee weakens against US dollar on Monday
Rupee weakens against US dollar on Monday
Source: Accord Fintech
6/06/2022 11:44:36 AM
Rupee hits all-time low of 77.42 against US dollar The rupee extended its losses and touched an all-time low of 77.42 against the US dollar in early trade on Monday. The Indian currency is weighed by the strength of the American currency in the overseas market and continued foreign fund outflows. Foreign institutional investors were net sellers in the capital market on Friday, as they offloaded shares worth Rs 5,517.08 crore, as per stock exchange data. On Friday, the rupee had slumped 55 paise to close at 76.90 against the US dollar...
Rupee hits all-time low of 77.42 against US dollar
Rupee hits all-time low of 77.42 against US dollar
Source: IANS
9/05/2022 2:41:55 PM
Cipla has submitted to BSE the Shareholding Pattern for the Period Ended March 31, 2022 As of March 2022, 33.63% is owned by Promoters and 66.37% by Public. Among Promoters holding, Indian Promoters holds 13.49% and Foreign Promoters holds 20.14%. Institutional holds 48.64% (Foreign Portfolio Investors 26.64%, Financial Institutions 0.04%, Insurance Companies 3.76% and Mutual Funds 13.91%) and Non-Institutional holds 17.72% as Public shareholders. Top five Promoters holding highest number of shares of Cipla company are Yusuf Khwaja Hamied (1505.21 lakhs shares / 18.77%), Soph...
Cipla has submitted to BSE the Shareholding Pattern for the Period Ended March 31, 2022
Cipla has submitted to BSE the Shareholding Pattern for the Period Ended March 31, 2022
Source: Dion Global Solutions Ltd
21/04/2022 10:26:18 AM
Indian bond yields off session highs on short-covering; rupee near 1-month low MUMBAI - The Indian rupee dropped on Monday to its lowest in nearly a month against the dollar, tracking losses in the stock market and weighed by sharp gains in global crude oil prices, while bond yields pulled back from session highs on short-covering. Oil prices climbed to their highest in nearly three weeks as fears over tight global supply grew, with the deepening crisis in Ukraine raising the prospect of heavier sanctions by the West on top exporter Russia. [O/R] India imports mor...
Indian bond yields off session highs on short-covering; rupee near 1-month low
Indian bond yields off session highs on short-covering; rupee near 1-month low
Source: Reuters
18/04/2022 3:02:09 PM
KCL Infra Projects has submitted to BSE the Shareholding Pattern for the Period Ended March 31, 2022 As of March 2022, 23.20% is owned by Indian Promoters and 76.80% by Public. Government holds 0.11% and Non-Institutional holds 76.69% as Public shareholders. Top five Promoters holding highest number of shares of KCL Infra Projects company are Mohan Jhawar (38.03 lakhs shares / 14.44%), Manan Jhawar (10.57 lakhs shares / 4.02%), Mohan Deokishan Huf (8.55 lakhs shares / 3.25%), Manisha Jhawar (3.32 lakhs shares / 1.26%) and Pramod Deokisan Jhawar Huf (0.62 lakhs shares / 0.23%). Out of 61.0...
KCL Infra Projects has submitted to BSE the Shareholding Pattern for the Period Ended March 31, 2022
KCL Infra Projects has submitted to BSE the Shareholding Pattern for the Period Ended March 31, 2022
Source: Dion Global Solutions Ltd
11/04/2022 1:49:30 PM
Escorts Agri Machinery records 18% decline in March tractor sales Escorts Agri Machinery sold 10,074 tractors in the month of March 2022 compared to 12,337 tractors in March 2021, recording a decline of 18.3%. Domestic tractor sales declined 19.2% to 9,483 tractors while exports fell 2.6% to 591 tractors during the month. During next year, the tractor demand is expected to improve led by higher Rabi output, good level of water reservoirs, increased Union budget allocations to rural and agri sector coupled with favourable crop prices, and initial positive fo...
Escorts Agri Machinery records 18% decline in March tractor sales
Escorts Agri Machinery records 18% decline in March tractor sales
Source: Dion Global Solutions Ltd
1/04/2022 2:28:41 PM
Lupin New Jersey subsidiary gets thirteen observations The pharma major after market hours on Thursday announced that its wholly owned subsidiary Novel Laboratories based in Somerset, New Jersey (USA) received thirteen observations from USFDA. The facility underwent a USFDA inspection from 7 March 2022 to 30 March 2022. Lupin assured of addressing these observations and said it will work closely with the agency to address their concerns. Furthermore, the company said that observations will not have an impact on disruption of supplies or the exist...
Lupin New Jersey subsidiary gets thirteen observations
Lupin New Jersey subsidiary gets thirteen observations
Source: Dion Global Solutions Ltd
1/04/2022 2:25:15 PM