✍️Stocks in News
Route Mobile: The company said the board has approved the proposal of buyback of equity shares of the company up to Rs 120 crore at a price of up to Rs 1,700 per share. With this, the size of maximum buyback shares would be 7.05 lakh equity shares, which is 1.12 percent of paid-up equity.
Orient Bell: The company announced on-time completion of two of projects involving capex of Rs 20 crore. GVT Tile plant capacity in Sikandrabad (UP) has increased by 0.7 million square metres (MSM) per annum and there was a conversion of Dora plant (Gujarat) from ceramic floor to vitrified floor with incremental volume potential being around 1.2 MSM per annum.
State Bank of India: The country's largest lender has entered into an agreement for investment of Rs 4 crore in equity shares of Perfios Account Aggregation Services Private Limited, the NBFC-account aggregator. This investment would be subject to RBI approval. SBI will hold 9.54 percent stake in Perfios Account Aggregation Services.
Hazoor Multi Projects: The company has received work order from Nagpur Mumbai Super Communication Expressway Ltd for execution of change of scope work in district Ahmednagar of package-11 on EPC mode for Rs 14.11 crore.
Jammu & Kashmir Bank: The bank said the board has approved raising of equity capital upto Rs 500 crore in one or more tranches, and another Rs 1,500 crore through debentures on a private placement basis.
Godawari Power & Ispat: The company has acquired 37.79 lakh equity shares of Alok Ferro Alloys (AFAL) at a fair value comprising of 78.96 percent of the paid-up capital of AFAL. AFAL is into ferro alloys with captive power generation, having operations in Raipur, Chhattisgarh only.
Shri Bajrang Alliance: The company has signed a contract with LULU Group International LLC, Abu Dhabi for supply of GOELD frozen food items in Middle East Markets (UAE, KSA etc.) and also through their Indian network. The purchase orders for the first 2 lots have been received.
Route Mobile: The company said the board has approved the proposal of buyback of equity shares of the company up to Rs 120 crore at a price of up to Rs 1,700 per share. With this, the size of maximum buyback shares would be 7.05 lakh equity shares, which is 1.12 percent of paid-up equity.
Orient Bell: The company announced on-time completion of two of projects involving capex of Rs 20 crore. GVT Tile plant capacity in Sikandrabad (UP) has increased by 0.7 million square metres (MSM) per annum and there was a conversion of Dora plant (Gujarat) from ceramic floor to vitrified floor with incremental volume potential being around 1.2 MSM per annum.
State Bank of India: The country's largest lender has entered into an agreement for investment of Rs 4 crore in equity shares of Perfios Account Aggregation Services Private Limited, the NBFC-account aggregator. This investment would be subject to RBI approval. SBI will hold 9.54 percent stake in Perfios Account Aggregation Services.
Hazoor Multi Projects: The company has received work order from Nagpur Mumbai Super Communication Expressway Ltd for execution of change of scope work in district Ahmednagar of package-11 on EPC mode for Rs 14.11 crore.
Jammu & Kashmir Bank: The bank said the board has approved raising of equity capital upto Rs 500 crore in one or more tranches, and another Rs 1,500 crore through debentures on a private placement basis.
Godawari Power & Ispat: The company has acquired 37.79 lakh equity shares of Alok Ferro Alloys (AFAL) at a fair value comprising of 78.96 percent of the paid-up capital of AFAL. AFAL is into ferro alloys with captive power generation, having operations in Raipur, Chhattisgarh only.
Shri Bajrang Alliance: The company has signed a contract with LULU Group International LLC, Abu Dhabi for supply of GOELD frozen food items in Middle East Markets (UAE, KSA etc.) and also through their Indian network. The purchase orders for the first 2 lots have been received.
🌞 Mid Market Update ✍🏻
Major Indices are trading lower, with the Nifty below 15800, Banks and FMCG are under pressure.
Among sectors buying is seen in Oil and Gas, while selling is seen in the bank, FMCG, IT and realty.
India Vix 🆙 1.78%, currently trading at 21.82
Nifty PCR is at 1.06 while Bank Nifty PCR is at 0.77
📊 Nifty Immediate support is at 15700--15600
Resistance is at 15900--16000
🏦 Bank Nifty Support is around 33200--33000
Resistance is at 33400--33600.
Major Indices are trading lower, with the Nifty below 15800, Banks and FMCG are under pressure.
Among sectors buying is seen in Oil and Gas, while selling is seen in the bank, FMCG, IT and realty.
India Vix 🆙 1.78%, currently trading at 21.82
Nifty PCR is at 1.06 while Bank Nifty PCR is at 0.77
📊 Nifty Immediate support is at 15700--15600
Resistance is at 15900--16000
🏦 Bank Nifty Support is around 33200--33000
Resistance is at 33400--33600.
✍🏻 Update ✍🏻
Government levies export duty on
Diesel ₹13 🫡
Petrol ₹6 🧐
ATF ₹6 🫣
Large portions of Reliance refining revenues are from export only.
Impact: Reliance down ⬇️ more than 5%>>>> Putting pressure on Nifty
Government levies export duty on
Diesel ₹13 🫡
Petrol ₹6 🧐
ATF ₹6 🫣
Large portions of Reliance refining revenues are from export only.
Impact: Reliance down ⬇️ more than 5%>>>> Putting pressure on Nifty
Global- Mixed
Nifty Range-15650-16000
Banknifty Range-33500-34500
Ban STOCK- NIL
Bias- Sideways to Bullish
Nifty Range-15650-16000
Banknifty Range-33500-34500
Ban STOCK- NIL
Bias- Sideways to Bullish
🌞 Mid Market Update ✍🏻
Nifty around 15,900; auto, financials, FMCG rise, metals slide. 🧐
On the sectoral front, metal index down over 2 percent, while buying is seen in the auto, bank and FMCG names.
India Vix ⬇️ 1.37%, currently trading at 20.50
Nifty PCR is at 1.05 while Bank Nifty PCR is at 1.28
📊 Nifty Immediate support is at 15750--15650
Resistance is at 15950--16050
🏦 Bank Nifty Support is around 34000--33800
Resistance is at 34300--34500.
Nifty around 15,900; auto, financials, FMCG rise, metals slide. 🧐
On the sectoral front, metal index down over 2 percent, while buying is seen in the auto, bank and FMCG names.
India Vix ⬇️ 1.37%, currently trading at 20.50
Nifty PCR is at 1.05 while Bank Nifty PCR is at 1.28
📊 Nifty Immediate support is at 15750--15650
Resistance is at 15950--16050
🏦 Bank Nifty Support is around 34000--33800
Resistance is at 34300--34500.
✍️Stocks in News
Veljan Denson: The company has signed share purchase agreement to acquire 100% shareholding in Adan Holdings, for 1.4 million pounds. Aban holds stake in hydraulics and engineering companies in UK. The said acquisition will be completed by August 2022.
Equitas Small Finance Bank: The small finance bank reported 22% YoY growth in Q1FY23 gross advances at Rs 21,699 crore and the sequential increase was 5%, while deposits growth was 19% YoY and 8 percent QoQ at Rs 20,386 crore.
Deep Industries: The company has received Letter of Awards from ONGC, for charter hiring of 1000 HP mobile drilling rigs for Ahmedabad asset for a period of 3 years. The total estimated value of the said awards is $19.02 million or Rs 150.24 crore.
PBA Infrastructure: The company said the board has approved voluntary delisting of equity shares of the company from NSE, but equity shares would remain to be listed on the BSE.
East West Holdings: The company has entered into Share Purchase Agreement with Unique Airfreight Express and Logistics Private Limited. It will acquire 37.5% stake in Unique Airfreight Express in the first tranche and the remaining 62.5% stake will be acquired within a period of 1 year. The cost of acquisition is Rs 4 crore.
Titagarh Wagons: HDFC Asset Management Company sold 2.15% stake or 25.7 lakh shares in the company via open market transactions on July 4. With this, HDFC AMC reduced its shareholding in the company to 7.02%, down from 9.17% earlier.
City Union Bank: The bank said the board of directors approved raising further capital through QIP route to the tune of Rs 500 crore subject to shareholder approval.
Veljan Denson: The company has signed share purchase agreement to acquire 100% shareholding in Adan Holdings, for 1.4 million pounds. Aban holds stake in hydraulics and engineering companies in UK. The said acquisition will be completed by August 2022.
Equitas Small Finance Bank: The small finance bank reported 22% YoY growth in Q1FY23 gross advances at Rs 21,699 crore and the sequential increase was 5%, while deposits growth was 19% YoY and 8 percent QoQ at Rs 20,386 crore.
Deep Industries: The company has received Letter of Awards from ONGC, for charter hiring of 1000 HP mobile drilling rigs for Ahmedabad asset for a period of 3 years. The total estimated value of the said awards is $19.02 million or Rs 150.24 crore.
PBA Infrastructure: The company said the board has approved voluntary delisting of equity shares of the company from NSE, but equity shares would remain to be listed on the BSE.
East West Holdings: The company has entered into Share Purchase Agreement with Unique Airfreight Express and Logistics Private Limited. It will acquire 37.5% stake in Unique Airfreight Express in the first tranche and the remaining 62.5% stake will be acquired within a period of 1 year. The cost of acquisition is Rs 4 crore.
Titagarh Wagons: HDFC Asset Management Company sold 2.15% stake or 25.7 lakh shares in the company via open market transactions on July 4. With this, HDFC AMC reduced its shareholding in the company to 7.02%, down from 9.17% earlier.
City Union Bank: The bank said the board of directors approved raising further capital through QIP route to the tune of Rs 500 crore subject to shareholder approval.
✍🏻 Bajaj Finance's quarterly result update 📊
The company's customer franchise reached 60.3 Mm in Q1FY23, up from 50.5 Mm the previous year.
This is the greatest quarterly rise in customer franchise by Bajaj finance, which was 2.7 Mm in Q1FY23.
Along with the client franchise, the business announced strong results for the new loan book, which is at 7.4 Mm for Q1FY2023 vs 4.6 in Q1FY22.
Impact:- Bajaj Finance's Q1FY23 quarterly statement appears to be quite good, and the business appears to be resuming its pre-covid growth rate._
View:- 🤓 We expect that Bajaj Finance will maintain its current growth rate in the next quarters. Based on current values and comparisons with rivals, we have a neutral perspective on Bajaj Finance.
Technical View:- 🧐 Immediate support is around 5600 level below this weakness can be seen towards the levels of 5400 and then to 5100, for upside sustainable trading action above 6000 may take it higher towards 6350 and then to 6500++ level in near to short term.
The company's customer franchise reached 60.3 Mm in Q1FY23, up from 50.5 Mm the previous year.
This is the greatest quarterly rise in customer franchise by Bajaj finance, which was 2.7 Mm in Q1FY23.
Along with the client franchise, the business announced strong results for the new loan book, which is at 7.4 Mm for Q1FY2023 vs 4.6 in Q1FY22.
Impact:- Bajaj Finance's Q1FY23 quarterly statement appears to be quite good, and the business appears to be resuming its pre-covid growth rate._
View:- 🤓 We expect that Bajaj Finance will maintain its current growth rate in the next quarters. Based on current values and comparisons with rivals, we have a neutral perspective on Bajaj Finance.
Technical View:- 🧐 Immediate support is around 5600 level below this weakness can be seen towards the levels of 5400 and then to 5100, for upside sustainable trading action above 6000 may take it higher towards 6350 and then to 6500++ level in near to short term.
🌞 Mid Market Update ✍🏻
Indices trade higher with Nifty up 100pts; Titan top gainer, RIL most active. 🧐
All the sectoral indices are trading in the green with auto, IT, metal, oil & gas and realty indices up 1-2 percent.
India Vix ⬇️ 1.01%, currently trading at 20.06
Nifty PCR is at 1.26 while Bank Nifty PCR is at 1.35
📊 Nifty Immediate support is at 16000--15900
Resistance is at 16200--16300
🏦 Bank Nifty Support is around 34500--34300
Resistance is at 34800--35000.
Indices trade higher with Nifty up 100pts; Titan top gainer, RIL most active. 🧐
All the sectoral indices are trading in the green with auto, IT, metal, oil & gas and realty indices up 1-2 percent.
India Vix ⬇️ 1.01%, currently trading at 20.06
Nifty PCR is at 1.26 while Bank Nifty PCR is at 1.35
📊 Nifty Immediate support is at 16000--15900
Resistance is at 16200--16300
🏦 Bank Nifty Support is around 34500--34300
Resistance is at 34800--35000.
✍️Stocks in News
Tata Motors: UK-based Jaguar Land Rover reported sales volumes at 78,825 units for three-month period ended June 2022, down 37% YoY and flat compared to previous quarter. Despite a record order book of 2 lakh units, sales continued to be constrained by the global chip shortage, compounded by the run out of the prior model Range Rover Sport, with deliveries just starting, and the impact of Covid lockdowns in China.
Kalpataru Power Transmission: The subsidiary in Sweden - Kalpataru Power Transmission Sweden AB (KPT Sweden) has completed the acquisition of remaining 15% equity stake of Linjemontage i Grastrop AB, a Swedish EPC company (LMG) headquartered in Grastrop, by paying $11.5 million. LMG also has two subsidiaries.
Response Informatics: The company said the board will hold a meeting on July 14 to consider the proposal for acquisition of Technologia Corporation, Jersey, USA. Hence, the trading window for dealing in the securities of the company will be closed for all the directors', designated persons of the company and their immediate relatives during July 8-16, 2022.
Xelpmoc Design and Tech: The company will invest Rs 21.5 lakh in Xperience India, the special purpose vehicle proposed to be incorporated in Madhya Pradesh, for 43% stake, which is engaged in business of tourism with the help of technologies to be developed related to travel and tourism sector. The company already received contract from Madhya Pradesh State Tourism Development Corporation. Xelpmoc will also invest nearly Rs 25 lakh in IT firm Firstsense Technology, in one or more tranches, for 32.26% stake. The transaction is expected to be completed by end of September 2022.
Pricol: The company has entered into Licensing Agreement with BMS PowerSafe SAS, France, for providing battery management system to the original equipment manufacturers in Indian market and international markets, across all vehicle segments. BMS PowerSafe is the brand of Startec Development Group.
Vedanta: The company will be undertaking acquisition of Athena Chhattisgarh Power which is a 1200MW coal-based power plant at Jhanjgir Champa district, Chhattisgarh, and is under liquidation process. The acquisition, which is estimated to be completed in FY23, will fulfill the power requirement at Vedanta aluminium business. The acquisition cost is Rs 564.67 crore.
Vakrangee: The company has clocked profit at Rs 4.53 crore in quarter ended June 2022, down significantly from Rs 23.33 crore in corresponding quarter last year as gross margins impacted primarily due to the launch of additional franchisee incentive schemes. It said profit margins have bottomed out and it is confident to deliver improved profitability & sustainable growth in the subsequent quarters. However, revenue from operations increased sharply to Rs 226.03 crore in Q1FY23 as against Rs 154.02 crore in same period last year.
Tata Motors: UK-based Jaguar Land Rover reported sales volumes at 78,825 units for three-month period ended June 2022, down 37% YoY and flat compared to previous quarter. Despite a record order book of 2 lakh units, sales continued to be constrained by the global chip shortage, compounded by the run out of the prior model Range Rover Sport, with deliveries just starting, and the impact of Covid lockdowns in China.
Kalpataru Power Transmission: The subsidiary in Sweden - Kalpataru Power Transmission Sweden AB (KPT Sweden) has completed the acquisition of remaining 15% equity stake of Linjemontage i Grastrop AB, a Swedish EPC company (LMG) headquartered in Grastrop, by paying $11.5 million. LMG also has two subsidiaries.
Response Informatics: The company said the board will hold a meeting on July 14 to consider the proposal for acquisition of Technologia Corporation, Jersey, USA. Hence, the trading window for dealing in the securities of the company will be closed for all the directors', designated persons of the company and their immediate relatives during July 8-16, 2022.
Xelpmoc Design and Tech: The company will invest Rs 21.5 lakh in Xperience India, the special purpose vehicle proposed to be incorporated in Madhya Pradesh, for 43% stake, which is engaged in business of tourism with the help of technologies to be developed related to travel and tourism sector. The company already received contract from Madhya Pradesh State Tourism Development Corporation. Xelpmoc will also invest nearly Rs 25 lakh in IT firm Firstsense Technology, in one or more tranches, for 32.26% stake. The transaction is expected to be completed by end of September 2022.
Pricol: The company has entered into Licensing Agreement with BMS PowerSafe SAS, France, for providing battery management system to the original equipment manufacturers in Indian market and international markets, across all vehicle segments. BMS PowerSafe is the brand of Startec Development Group.
Vedanta: The company will be undertaking acquisition of Athena Chhattisgarh Power which is a 1200MW coal-based power plant at Jhanjgir Champa district, Chhattisgarh, and is under liquidation process. The acquisition, which is estimated to be completed in FY23, will fulfill the power requirement at Vedanta aluminium business. The acquisition cost is Rs 564.67 crore.
Vakrangee: The company has clocked profit at Rs 4.53 crore in quarter ended June 2022, down significantly from Rs 23.33 crore in corresponding quarter last year as gross margins impacted primarily due to the launch of additional franchisee incentive schemes. It said profit margins have bottomed out and it is confident to deliver improved profitability & sustainable growth in the subsequent quarters. However, revenue from operations increased sharply to Rs 226.03 crore in Q1FY23 as against Rs 154.02 crore in same period last year.
✍️Stocks in News
Dhruv Consultancy Services: The company has received Letter of Acceptance (LOA) for the independent engineering services during development and operation of road project - Sikar - Bikaner section of NH-11, in Rajasthan through Public Private Partnership on design, build, finance, operate and transfer (DBFOT). Dhruv Consultancy Services received this contract in association with G-Square Infra Projects. Independent engineering services fees for the said project will be Rs 4.14 crore and the contract period will be of 36 months.
SecureKloud Technologies: Healthcare Triangle Inc, USA, a step-down subsidiary of the company has entered into a definitive agreement with a single institutional investor for the issuance and sale of 60.97 lakh shares of its common stock in a private placement. The private placement is expected to close on or about July 13.
5paisa Capital: The company reported a 2.6 percent year-on-year growth in consolidated profit at Rs 7.39 crore in quarter ended June 2022. Revenue from operations grew by 40 percent YoY to Rs 84.03 crore during the quarter.
HFCL: The company has received the purchase orders of Rs 59.22 crore, from one of the leading private telecom operators of the country, for providing services to rollout their fiber to the home (FTTH) network and long distance fiber network in various telecom circles.
Satin Creditcare Network: The company said the board of directors approved raising of funds by way of issuance of non-convertible debentures (NCDs) upto Rs 5,000 crore on private placement basis, in one or more tranches. The funds will be raised within a period of one year from the date of shareholders' approval.
Ahluwalia Contracts (India): The company has secured a new order for construction work of Amity Campus Bengaluru, worth to Rs 150 crore, from Ritnand Balved Education Foundation. The total order inflow during the FY23 stood at Rs 863 crore
Techno Electric & Engineering Company: The company said the board of directors approved the proposal to buy back of shares up to Rs 130 crore at a price up to Rs 325 per share.
Dhruv Consultancy Services: The company has received Letter of Acceptance (LOA) for the independent engineering services during development and operation of road project - Sikar - Bikaner section of NH-11, in Rajasthan through Public Private Partnership on design, build, finance, operate and transfer (DBFOT). Dhruv Consultancy Services received this contract in association with G-Square Infra Projects. Independent engineering services fees for the said project will be Rs 4.14 crore and the contract period will be of 36 months.
SecureKloud Technologies: Healthcare Triangle Inc, USA, a step-down subsidiary of the company has entered into a definitive agreement with a single institutional investor for the issuance and sale of 60.97 lakh shares of its common stock in a private placement. The private placement is expected to close on or about July 13.
5paisa Capital: The company reported a 2.6 percent year-on-year growth in consolidated profit at Rs 7.39 crore in quarter ended June 2022. Revenue from operations grew by 40 percent YoY to Rs 84.03 crore during the quarter.
HFCL: The company has received the purchase orders of Rs 59.22 crore, from one of the leading private telecom operators of the country, for providing services to rollout their fiber to the home (FTTH) network and long distance fiber network in various telecom circles.
Satin Creditcare Network: The company said the board of directors approved raising of funds by way of issuance of non-convertible debentures (NCDs) upto Rs 5,000 crore on private placement basis, in one or more tranches. The funds will be raised within a period of one year from the date of shareholders' approval.
Ahluwalia Contracts (India): The company has secured a new order for construction work of Amity Campus Bengaluru, worth to Rs 150 crore, from Ritnand Balved Education Foundation. The total order inflow during the FY23 stood at Rs 863 crore
Techno Electric & Engineering Company: The company said the board of directors approved the proposal to buy back of shares up to Rs 130 crore at a price up to Rs 325 per share.
🌞 Mid Market Update ✍🏻
Indices have tumbled down ⬇️ to break day's low, high volatility expected by closing due to expiry
HDFC will raise upto 5000 crore by issuing bonds through Private Placement on Friday.
India Vix ⬇️ 0.22%, currently trading at 18.46
Nifty PCR is at 1.19 while Bank Nifty PCR is at 1.04
Nifty 📊 Immediate support is at 15950--15900
Resistance is at 16070--16150
Bank Nifty 🏦 Support is around 34600--34550
Resistance is at 35030--35150.
Indices have tumbled down ⬇️ to break day's low, high volatility expected by closing due to expiry
HDFC will raise upto 5000 crore by issuing bonds through Private Placement on Friday.
India Vix ⬇️ 0.22%, currently trading at 18.46
Nifty PCR is at 1.19 while Bank Nifty PCR is at 1.04
Nifty 📊 Immediate support is at 15950--15900
Resistance is at 16070--16150
Bank Nifty 🏦 Support is around 34600--34550
Resistance is at 35030--35150.
*Good Morning Traders 🌞*
*Yesterday, Nifty Sensex ends flat after a volatile trading session of Expiry Day!*
India VIX (up by 0.18%) to end at 18.34
Nifty open interest put-call ratio (PCR): 0.71
Bank Nifty open interest put-call ratio (PCR): 0.82
*Today's Index Technical Levels*
*Nifty Technical Levels*
The Nifty has been trading continuously below 16000 and the 50-day SMA (Simple Moving Average), which is widely bearish.
The index is clinging to a lower top shape on intraday charts, indicating short-term weakness.
For bulls 🐂, the major resistance level would be 16000, and over it, the index may rise up to 16100-16150.
On the other hand, 15850 would be the major support level, and if it falls further, the index might go as low as 15800--15725.
*Bank Nifty Technical Levels*
The Bank Nifty index was under pressure from higher levels and encountered solid resistance in the 35,200-35,300 range.
Lower-end support is around 34,400, and a break of this level will result in increased selling pressure towards 34000.
The index is essentially trapped in a range between 34,400 and 35,300, and a break on either side will result in trending move.
More will update during market hours.
*Yesterday, Nifty Sensex ends flat after a volatile trading session of Expiry Day!*
India VIX (up by 0.18%) to end at 18.34
Nifty open interest put-call ratio (PCR): 0.71
Bank Nifty open interest put-call ratio (PCR): 0.82
*Today's Index Technical Levels*
*Nifty Technical Levels*
The Nifty has been trading continuously below 16000 and the 50-day SMA (Simple Moving Average), which is widely bearish.
The index is clinging to a lower top shape on intraday charts, indicating short-term weakness.
For bulls 🐂, the major resistance level would be 16000, and over it, the index may rise up to 16100-16150.
On the other hand, 15850 would be the major support level, and if it falls further, the index might go as low as 15800--15725.
*Bank Nifty Technical Levels*
The Bank Nifty index was under pressure from higher levels and encountered solid resistance in the 35,200-35,300 range.
Lower-end support is around 34,400, and a break of this level will result in increased selling pressure towards 34000.
The index is essentially trapped in a range between 34,400 and 35,300, and a break on either side will result in trending move.
More will update during market hours.
Pre Market Update
📌Trends on SGX Nifty indicate a positive start for the broader index in India, with a gain of 164 points or 1.02 percent. The Nifty futures were trading around 15,909 level on the Singaporean Exchange at 7:30 IST.
📌Sustain above 15,858 levels the bulls can make efforts to consolidate in a range of 15,950 and 16,275 levels.In between, a close above 16,150 can confirm some kind of strength for the index
📌Trends on SGX Nifty indicate a positive start for the broader index in India, with a gain of 164 points or 1.02 percent. The Nifty futures were trading around 15,909 level on the Singaporean Exchange at 7:30 IST.
📌Sustain above 15,858 levels the bulls can make efforts to consolidate in a range of 15,950 and 16,275 levels.In between, a close above 16,150 can confirm some kind of strength for the index
Stocks in News 🗞 👀
IndusInd Bank: The private sector lender says the board has approved the raising of funds up to Rs 20,000 crore through debt securities on a private placement basis. The fundraising is subject to the approval of the members of the bank.
Alok Industries: The textile company posted a consolidated loss of Rs 141.58 crore for the quarter ended June 2022, which widened from a loss of Rs 97.65 crore in the same period last year, due to higher raw material, and power and fuel costs. Revenue increased significantly by 56 percent YoY to Rs 1,971.52 crore in Q1FY23.
Tube Investments of India: The company through its subsidiary TI Clean Mobility (TICMPL) acquired a 65.2 percent stake in IPLTech Electric (IPLT), through a combination of purchase of equity shares from the founders and other existing shareholders of IPLT. The acquisition cost is Rs 246 crore. IPLT is a startup engaged in the manufacturing and sale of electric heavy commercial vehicles. In addition, the company decided to make a further investment of up to Rs 150 crore in subsidiary TICMPL and provision of inter-corporate deposit of an amount of up to Rs 100 crore to TICMPL.
Nelco: The company clocked a 7.8 percent year-on-year growth in consolidated profit at Rs 4.72 crore for the quarter ended June 2022 supported by a robust topline. Revenue grew by 48 percent to Rs 81.68 crore during the quarter YoY.
Excel Realty N Infra: The company said the board will hold a meeting on August 4 to consider the sub-division of face value of Equity shares, and the issue of bonus share.
Surya Roshni: The company received orders worth Rs 91.27 crore for API-5L grade 3LPE coated pipes from Bharat Gas Resources. The contract will be executed within 12 months.
IndusInd Bank: The private sector lender says the board has approved the raising of funds up to Rs 20,000 crore through debt securities on a private placement basis. The fundraising is subject to the approval of the members of the bank.
Alok Industries: The textile company posted a consolidated loss of Rs 141.58 crore for the quarter ended June 2022, which widened from a loss of Rs 97.65 crore in the same period last year, due to higher raw material, and power and fuel costs. Revenue increased significantly by 56 percent YoY to Rs 1,971.52 crore in Q1FY23.
Tube Investments of India: The company through its subsidiary TI Clean Mobility (TICMPL) acquired a 65.2 percent stake in IPLTech Electric (IPLT), through a combination of purchase of equity shares from the founders and other existing shareholders of IPLT. The acquisition cost is Rs 246 crore. IPLT is a startup engaged in the manufacturing and sale of electric heavy commercial vehicles. In addition, the company decided to make a further investment of up to Rs 150 crore in subsidiary TICMPL and provision of inter-corporate deposit of an amount of up to Rs 100 crore to TICMPL.
Nelco: The company clocked a 7.8 percent year-on-year growth in consolidated profit at Rs 4.72 crore for the quarter ended June 2022 supported by a robust topline. Revenue grew by 48 percent to Rs 81.68 crore during the quarter YoY.
Excel Realty N Infra: The company said the board will hold a meeting on August 4 to consider the sub-division of face value of Equity shares, and the issue of bonus share.
Surya Roshni: The company received orders worth Rs 91.27 crore for API-5L grade 3LPE coated pipes from Bharat Gas Resources. The contract will be executed within 12 months.
*Reliance Industries (RIL) 45th Annual General Meeting (AGM) is set to begin at 2 pm today* 📢 📝
*What to expect from Reliance AGM today?*
1. Reliance succession plans.
2. 5G rollout and Tariff plans.
3. IPO for Reliance Jio.
4. Updates on the previous year's announcements such as four Giga factories for Energy.
5. Updates on Green Energy investments by Reliance and future prospects.
Keep a watch, the stock has been consolidating since morning after recovering from the gap-down opening.
*✅✅The major resistance is 2680 and the major support is 2570 for any big move to either side.*
More will update soon!
*What to expect from Reliance AGM today?*
1. Reliance succession plans.
2. 5G rollout and Tariff plans.
3. IPO for Reliance Jio.
4. Updates on the previous year's announcements such as four Giga factories for Energy.
5. Updates on Green Energy investments by Reliance and future prospects.
Keep a watch, the stock has been consolidating since morning after recovering from the gap-down opening.
*✅✅The major resistance is 2680 and the major support is 2570 for any big move to either side.*
More will update soon!
#RBIPolicy | RBI’s Monetary Policy Committee hikes #RepoRate by 35 bps to 6.25%. The policy rate is now at the highest level since August 2018
#CNBCTV18At23 https://t.co/Q1iOw2v2YL
#CNBCTV18At23 https://t.co/Q1iOw2v2YL