INDIAN ECONOMY: Despite Rising Inflation, RBI Unlikely To Hike Rates Till August
Rbi May hike 50 basis points in 2nd half starting from August Policy says Ubs Securities
Rbi May hike 50 basis points in 2nd half starting from August Policy says Ubs Securities
Stocks in News
Vedant Fashions: The company will make its debut on the BSE and NSE, on February 16. The final issue price has been fixed at Rs 866 per share. It would be third listing in year 2022 after AGS Transact Technologies and Adani Wilmar.
Punjab & Sind Bank: NPA account, IL & FS Tamil Nadu Power Company with outstanding dues of Rs 148.86 crore has been declared as fraud. The bank reported this fraud to RBI and has already made provisions amounting to Rs 59.54 crore.
Wheels India: ICRA has downgraded its long term rating for bank lines to ‘A-‘, from ‘A' earlier while keeping outlook stable. The rating agency also downgraded its short term rating for bank lines to ‘A2+', from ‘A1' earlier.
Burger King India: The company closed its qualified institutional placement issue and finalised the issue price at Rs 129.25 per share, a discount of 5 percent to the floor price of Rs 136.05 per share.
Torrent Power: The company completed transaction of acquisition of 100 percent stake in special purpose vehicle Visual Percept Solar Projects. The acquisition was as per the Share Purchase Agreement between Torrent Power, and Blue Daimond Properties and Balrampur Chini Mills.
Redington India: Investor Marina IV (Singapore) Pte Ltd sold 2.14 percent equity stake in the company via open market transactions on February 11. As a result, its shareholding in the company dropped to 3.22 percent, from 5.36 percent earlier.
Vedant Fashions: The company will make its debut on the BSE and NSE, on February 16. The final issue price has been fixed at Rs 866 per share. It would be third listing in year 2022 after AGS Transact Technologies and Adani Wilmar.
Punjab & Sind Bank: NPA account, IL & FS Tamil Nadu Power Company with outstanding dues of Rs 148.86 crore has been declared as fraud. The bank reported this fraud to RBI and has already made provisions amounting to Rs 59.54 crore.
Wheels India: ICRA has downgraded its long term rating for bank lines to ‘A-‘, from ‘A' earlier while keeping outlook stable. The rating agency also downgraded its short term rating for bank lines to ‘A2+', from ‘A1' earlier.
Burger King India: The company closed its qualified institutional placement issue and finalised the issue price at Rs 129.25 per share, a discount of 5 percent to the floor price of Rs 136.05 per share.
Torrent Power: The company completed transaction of acquisition of 100 percent stake in special purpose vehicle Visual Percept Solar Projects. The acquisition was as per the Share Purchase Agreement between Torrent Power, and Blue Daimond Properties and Balrampur Chini Mills.
Redington India: Investor Marina IV (Singapore) Pte Ltd sold 2.14 percent equity stake in the company via open market transactions on February 11. As a result, its shareholding in the company dropped to 3.22 percent, from 5.36 percent earlier.
Stocks To Watch
InterGlobe Aviation: Promoter Rakesh Gangwal has resigned from the board of directors of the IndiGo airline operator with immediate effect. Gangwal in a letter to the board said he plans to slowly dilute his holding in the company over the next five years.
Future Retail: The company has paid $14 million as interest for the half year on 5.60% Senior Secured Notes (USD). The company had missed the payment which was due on Jan. 24.
Gulf Oil Lubricants: The company will buyback 14,16,667 shares, representing 2.8% of the total paid up capital at buyback price of Rs 600 per share.
HDFC: Srikanth Nadhamuni resigned from the board as non-executive non-independent director citing a potential future deal between HDFC Bank and an entity where he might be interested.
Kansai Nerolac Paints : The company appointed Anuj Jain as the Managing Director for a term of five years after retirement of Vice Chairman and Managing Director HM Bharuka.
Canara Bank: The bank has subscribed to 1,20,000 shares of Debt Resolution Company for 14.9% stake which will be reduced to 5% by March 31, 2022.
Union Bank: The bank has subscribed to 99,000 shares of Debt Resolution Company for 12.3% stake which will be reduced below 10% in due course. .
SBI: The bank has subscribed to 99,000 shares of Debt Resolution Company for 12.3% stake which will be reduced to 5% by March 31, 2022.
Bank of Baroda: The bank has subscribed to 99,000 shares of India Debt Resolution Company for a 12.3% stake which will be diluted to 9.9% by March 31, 2022.
Punjab National Bank: The bank has subscribed to 90,000 shares Debt Resolution Company for 11.8% stake which will be reduced to 5% in due course.
Bank of Maharashtra: The bank has subscribed to 50,000 shares of Debt Resolution Company for 6.21% stake which will be reduced to 4% by March 31, 2022.
Gujarat Mineral Development: The company has received an amendment to its environment clearance from the Ministry of Environment and Forest to mine up to a depth of 135 metres from its earlier approved depth of 94 metres at the Tadkeshwar Lignite Mines.
Hinduja Global: Wins $281 Million U.K. Test-and-Trace Contract.
JMC Projects: To merge with Kalpataru Power Transmission in an all-equity merger. Shareholders of JMC will be issued equity shares of Kalpataru in the ratio of 4:1. The merged entity will have a combined order book of Rs 37,000 crore.
TCS: Last date to buy stock to qualify for buyback record date of Feb 23. India's largest IT services firm has set a buyback price of Rs 4,500.
Godawari Power & Ispat: Gets into agreement to sell 50 MW (CGEL) solar thermal power plant for Rs 665 crore.
InterGlobe Aviation: Promoter Rakesh Gangwal has resigned from the board of directors of the IndiGo airline operator with immediate effect. Gangwal in a letter to the board said he plans to slowly dilute his holding in the company over the next five years.
Future Retail: The company has paid $14 million as interest for the half year on 5.60% Senior Secured Notes (USD). The company had missed the payment which was due on Jan. 24.
Gulf Oil Lubricants: The company will buyback 14,16,667 shares, representing 2.8% of the total paid up capital at buyback price of Rs 600 per share.
HDFC: Srikanth Nadhamuni resigned from the board as non-executive non-independent director citing a potential future deal between HDFC Bank and an entity where he might be interested.
Kansai Nerolac Paints : The company appointed Anuj Jain as the Managing Director for a term of five years after retirement of Vice Chairman and Managing Director HM Bharuka.
Canara Bank: The bank has subscribed to 1,20,000 shares of Debt Resolution Company for 14.9% stake which will be reduced to 5% by March 31, 2022.
Union Bank: The bank has subscribed to 99,000 shares of Debt Resolution Company for 12.3% stake which will be reduced below 10% in due course. .
SBI: The bank has subscribed to 99,000 shares of Debt Resolution Company for 12.3% stake which will be reduced to 5% by March 31, 2022.
Bank of Baroda: The bank has subscribed to 99,000 shares of India Debt Resolution Company for a 12.3% stake which will be diluted to 9.9% by March 31, 2022.
Punjab National Bank: The bank has subscribed to 90,000 shares Debt Resolution Company for 11.8% stake which will be reduced to 5% in due course.
Bank of Maharashtra: The bank has subscribed to 50,000 shares of Debt Resolution Company for 6.21% stake which will be reduced to 4% by March 31, 2022.
Gujarat Mineral Development: The company has received an amendment to its environment clearance from the Ministry of Environment and Forest to mine up to a depth of 135 metres from its earlier approved depth of 94 metres at the Tadkeshwar Lignite Mines.
Hinduja Global: Wins $281 Million U.K. Test-and-Trace Contract.
JMC Projects: To merge with Kalpataru Power Transmission in an all-equity merger. Shareholders of JMC will be issued equity shares of Kalpataru in the ratio of 4:1. The merged entity will have a combined order book of Rs 37,000 crore.
TCS: Last date to buy stock to qualify for buyback record date of Feb 23. India's largest IT services firm has set a buyback price of Rs 4,500.
Godawari Power & Ispat: Gets into agreement to sell 50 MW (CGEL) solar thermal power plant for Rs 665 crore.
Stocks To Watch
Adani Enterprises: The company signed a non-binding memorandum of understanding with Ballard Power Systems to evaluate a joint investment case for the commercialisation of hydrogen fuel cells in various mobility and industrial applications in India.
Tata Power: The company’s subsidiary Tata Power Renewable Energy has signed a memorandum of understanding with RWE Renewables GmbH to explore the potential for a joint development of offshore wind projects in India.
ICICI Bank: The company has entered into an agreement to acquire 9.49% stake in Verve Financial Services for Rs 19.99 crore.
Hero MotoCorp: The company has created a new position of chief growth officer, integrating marketing, sales and aftersales functions. Ranjivjit Singh, head of marketing, has been elevated to to this new role with immediate effect.
Hindalco: The company’s wholly owned subsidiary Novelis will invest approximately Rs 372.74 crore ($50 million) to build a recycling centre with annual casting capacity of 100 kilotonnes of low-carbon sheet ingot at its Ulsan Aluminium joint venture in South Korea. It expects the recycling centre to reduce the company’s carbon emissions by more than 420,000tonnes each year.
IDFC First Bank: Managing Director and CEO V. Vaidyanathan has gifted 900,000 equity shares to five persons including his trainer, househelp, driver and office support staff. Rukmani Social Welfare Trust has disposed 200,000 equity shares to support social activities.
IndiaMart InterMesh: The company entered into an agreement with Fleetx Technologies to acquire 16.35% stake for an aggregate amount of Rs 91.42 crore.
Affle India: The company’s subsidiary Affle International has acquired 28.33% stake in Appnext.
Krsnaa Diagnostic: The company has bagged a tender for providing diagnostic/laboratory services in healthcare institutions run by the Health and Family Welfare Department of Government of Himachal Pradesh.
ISGEC: The company has commissioned its largest Biomass Boilers for a Bio Ethanol project in Thailand for GKBI, a joint venture of PTT, Thailand Petroleum Company and KTIS, through an EPC company, Sbang, Thailand.
SIS: The company said that former promoters of the SLV, Vishal Swara and Ruchi Swara, have withheld the transfer of remaining 21,474 shares (8.59%) with a dishonest intention, in spite receiving full consideration for the shares. The companysaid it has thus completed and fulfilled its obligations of payments to purchase 100% of the shares of SLV.
CG Power: Mumbai High Court dismisses tax claim on CG Power.
L&T Finance: Citigroup sells 57.87 million shares of the company, while BNP Paribas buys 57.87 million shares at Rs 71.35/share.
Panacea Biotec: The pharma company has partnered the central government for Betacoronavirus vaccines.
Adani Enterprises: The company signed a non-binding memorandum of understanding with Ballard Power Systems to evaluate a joint investment case for the commercialisation of hydrogen fuel cells in various mobility and industrial applications in India.
Tata Power: The company’s subsidiary Tata Power Renewable Energy has signed a memorandum of understanding with RWE Renewables GmbH to explore the potential for a joint development of offshore wind projects in India.
ICICI Bank: The company has entered into an agreement to acquire 9.49% stake in Verve Financial Services for Rs 19.99 crore.
Hero MotoCorp: The company has created a new position of chief growth officer, integrating marketing, sales and aftersales functions. Ranjivjit Singh, head of marketing, has been elevated to to this new role with immediate effect.
Hindalco: The company’s wholly owned subsidiary Novelis will invest approximately Rs 372.74 crore ($50 million) to build a recycling centre with annual casting capacity of 100 kilotonnes of low-carbon sheet ingot at its Ulsan Aluminium joint venture in South Korea. It expects the recycling centre to reduce the company’s carbon emissions by more than 420,000tonnes each year.
IDFC First Bank: Managing Director and CEO V. Vaidyanathan has gifted 900,000 equity shares to five persons including his trainer, househelp, driver and office support staff. Rukmani Social Welfare Trust has disposed 200,000 equity shares to support social activities.
IndiaMart InterMesh: The company entered into an agreement with Fleetx Technologies to acquire 16.35% stake for an aggregate amount of Rs 91.42 crore.
Affle India: The company’s subsidiary Affle International has acquired 28.33% stake in Appnext.
Krsnaa Diagnostic: The company has bagged a tender for providing diagnostic/laboratory services in healthcare institutions run by the Health and Family Welfare Department of Government of Himachal Pradesh.
ISGEC: The company has commissioned its largest Biomass Boilers for a Bio Ethanol project in Thailand for GKBI, a joint venture of PTT, Thailand Petroleum Company and KTIS, through an EPC company, Sbang, Thailand.
SIS: The company said that former promoters of the SLV, Vishal Swara and Ruchi Swara, have withheld the transfer of remaining 21,474 shares (8.59%) with a dishonest intention, in spite receiving full consideration for the shares. The companysaid it has thus completed and fulfilled its obligations of payments to purchase 100% of the shares of SLV.
CG Power: Mumbai High Court dismisses tax claim on CG Power.
L&T Finance: Citigroup sells 57.87 million shares of the company, while BNP Paribas buys 57.87 million shares at Rs 71.35/share.
Panacea Biotec: The pharma company has partnered the central government for Betacoronavirus vaccines.
Morning Alert..🚀🚀
Gold outshines market, emerges as the best-performing asset class in 2022
Gold has emerged as the best-performing asset class in 2022, after underperforming most risk assets last year. The yellow metal was trading at around $1,900 per ounce in the international market on Tuesday, up from $1,796 at the end of January. The precious metal made an intra-day high of $1,918 on Tuesday. Currently, gold is trading at its highest level since June 2021. The yellow metal is up nearly 4 per cent since the beginning of the calendar year. In comparison, the Sensex is down 2 per cent YTD in dollar terms and 1.6 per cent in local currency.
Ukraine crisis: Crude oil surge a challenge to financial stability, says FM
Union Finance Minister Nirmala Sitharaman on Tuesday said rising crude oil prices amid escalating Ukraine-Russia tensions posed a challenge to India’s financial stability and the government was monitoring the situation. “Crude (is) one of the most important considerations and the government will keep a watch,” she said while interacting with the media.
SoftBank-backed Swiggy eyes $800-mn IPO early next year: Report
Food delivery giant Swiggy is eyeing $800 million in initial public offerings (IPO) next year and has started preparations for the same. This comes after its rival Zomato, which witnessed a stellar debut in markets last year, has seen its shares decline below its issue price. Zomato commands a market capitalisation of about $9 billion (Rs 67,600 crore). SoftBank Group-backed Swiggy has started adding independent directors to the board as the food delivery company also plans to position itself as a logistics company.
Commodity play
Gold – Rs 50114/10gm, Silver – Rs 64273/kg, Brcrude – Rs 7343/Barrel, Degumsyoil – Rs 1375/10kg, Copper – Rs 767/kg.
Corporate News
Aditya Birla Fashion – Co selects Accenture to seed up its digital shift.
Jet Airways – Co appoints SriLankan Airlines Ex-CEO Vipul Gunatilleka as CFO.
Butterfly Gandhimathi – CG to acquire 55% stake in company at Rs 1403/share.
Sector in Focus - Automobiles, Sugar & Consumer Durables.
Gold outshines market, emerges as the best-performing asset class in 2022
Gold has emerged as the best-performing asset class in 2022, after underperforming most risk assets last year. The yellow metal was trading at around $1,900 per ounce in the international market on Tuesday, up from $1,796 at the end of January. The precious metal made an intra-day high of $1,918 on Tuesday. Currently, gold is trading at its highest level since June 2021. The yellow metal is up nearly 4 per cent since the beginning of the calendar year. In comparison, the Sensex is down 2 per cent YTD in dollar terms and 1.6 per cent in local currency.
Ukraine crisis: Crude oil surge a challenge to financial stability, says FM
Union Finance Minister Nirmala Sitharaman on Tuesday said rising crude oil prices amid escalating Ukraine-Russia tensions posed a challenge to India’s financial stability and the government was monitoring the situation. “Crude (is) one of the most important considerations and the government will keep a watch,” she said while interacting with the media.
SoftBank-backed Swiggy eyes $800-mn IPO early next year: Report
Food delivery giant Swiggy is eyeing $800 million in initial public offerings (IPO) next year and has started preparations for the same. This comes after its rival Zomato, which witnessed a stellar debut in markets last year, has seen its shares decline below its issue price. Zomato commands a market capitalisation of about $9 billion (Rs 67,600 crore). SoftBank Group-backed Swiggy has started adding independent directors to the board as the food delivery company also plans to position itself as a logistics company.
Commodity play
Gold – Rs 50114/10gm, Silver – Rs 64273/kg, Brcrude – Rs 7343/Barrel, Degumsyoil – Rs 1375/10kg, Copper – Rs 767/kg.
Corporate News
Aditya Birla Fashion – Co selects Accenture to seed up its digital shift.
Jet Airways – Co appoints SriLankan Airlines Ex-CEO Vipul Gunatilleka as CFO.
Butterfly Gandhimathi – CG to acquire 55% stake in company at Rs 1403/share.
Sector in Focus - Automobiles, Sugar & Consumer Durables.
Stocks in Focus 24/02/2022
SAREGAMA Boardmeet Today To Consider Sub-Division of Equity Shares
Nandan Denim Ltd fixes March 21, 2022 as record date for bonus issue
Zuari Agro Chemicals: Approved Issuance Of Non-Convertible Debentures Worth Up To 1.50b Rupees
Power Finance Corp: Board Meeting On Feb 28 To Consider Market Borrowing Program For Fy 2022-23
Wipro Joins o9 Solutions' Global Partner Network to Transform and Digitize Global Supply Chains
Info Edge: has received NCLT approval for amalgamation of wholly owned subsidiary company High Orbit Careers into and with Info Edge.
IndiGo launches Pantnagar as 72nd destination in 6E network
Dilip Buildcon: Declared As L-1 Bidder For A New Ham Project Under Raipur-Visakhapatnam || Order Worth 12.55b Rupees
Shivansh Finserve to invest in Slopho Infotech Pvt Ltd
Federal-Mogul Goetze: Tenneco Inc, company’s holding company, has entered a merger agreement with Pegasus Merger, a wholly owned subsidiary of Pegasus Holdings.
IIFL Securities partners with GoCharting to provide seamless chart trading solutions
Indus Tower: Vodafone Plc To Sell 2.4% Stake In Co Worth $200m In Co (Via Unit Euro Pacific) Vodafone To Sell Stake Via Block Deal Tomorrow Offer Range Rs 227-231 Per Share, Up To 10% Discount To Cmp || Offer Size Rs 1440 Cr
FORBES COMPANY
Enters Into a Binding Agreement for
sale of its entire shareholding in
Subsidiary Forbes Facility Services to SILA Solutions Private Limited
L&T FINANCE HOLDINGS
CITIGROUP Global Markets Sold
6.399 Crore Shares (4.88% Stake)
CITIGROUP Reduces Its Stake From
8.75% to 3.87%
PowerGrid: will transfer 26% residual equity shareholding in Power Grid Vizag Transmission and relinquish its right on additional revenue accruing to PowerGrid Parli Transmission PowerGrid Warora Transmission and PowerGrid Jabalpur Transmission under change in law to PGInvIT against upfront consideration.
Secmark Consultancy Ltd to acquire 20% stake in Trakiot
SAREGAMA Boardmeet Today To Consider Sub-Division of Equity Shares
Nandan Denim Ltd fixes March 21, 2022 as record date for bonus issue
Zuari Agro Chemicals: Approved Issuance Of Non-Convertible Debentures Worth Up To 1.50b Rupees
Power Finance Corp: Board Meeting On Feb 28 To Consider Market Borrowing Program For Fy 2022-23
Wipro Joins o9 Solutions' Global Partner Network to Transform and Digitize Global Supply Chains
Info Edge: has received NCLT approval for amalgamation of wholly owned subsidiary company High Orbit Careers into and with Info Edge.
IndiGo launches Pantnagar as 72nd destination in 6E network
Dilip Buildcon: Declared As L-1 Bidder For A New Ham Project Under Raipur-Visakhapatnam || Order Worth 12.55b Rupees
Shivansh Finserve to invest in Slopho Infotech Pvt Ltd
Federal-Mogul Goetze: Tenneco Inc, company’s holding company, has entered a merger agreement with Pegasus Merger, a wholly owned subsidiary of Pegasus Holdings.
IIFL Securities partners with GoCharting to provide seamless chart trading solutions
Indus Tower: Vodafone Plc To Sell 2.4% Stake In Co Worth $200m In Co (Via Unit Euro Pacific) Vodafone To Sell Stake Via Block Deal Tomorrow Offer Range Rs 227-231 Per Share, Up To 10% Discount To Cmp || Offer Size Rs 1440 Cr
FORBES COMPANY
Enters Into a Binding Agreement for
sale of its entire shareholding in
Subsidiary Forbes Facility Services to SILA Solutions Private Limited
L&T FINANCE HOLDINGS
CITIGROUP Global Markets Sold
6.399 Crore Shares (4.88% Stake)
CITIGROUP Reduces Its Stake From
8.75% to 3.87%
PowerGrid: will transfer 26% residual equity shareholding in Power Grid Vizag Transmission and relinquish its right on additional revenue accruing to PowerGrid Parli Transmission PowerGrid Warora Transmission and PowerGrid Jabalpur Transmission under change in law to PGInvIT against upfront consideration.
Secmark Consultancy Ltd to acquire 20% stake in Trakiot
BIDEN SAYS RUSSIAN ATTACK ON UKRAINE PREMEDITATED
BIDEN SAYS RUSSIAN ATTACK UNFOLDING LARGELY AS PREDICTED
BIDEN SAYS WILL LIMIT RUSSIA'S ABILITY TO DO BUSINESS IN DOLLARS, YEN
BIDEN SAYS BLOCKING FOUR MORE BANKS ON THURSDAY
BIDEN SAYS HAVE SANCTIONED RUSSIAN BANKS THAT HOLD $1 TRILLION IN ASSETS
BIDEN SAYS ESTIMATE SANCTIONS WILL CUT OFF MORE THAN HALF OF RUSSIA'S HIGH-TECH IMPORTS
BIDEN SAYS U.S. FORCES WILL NOT FIGHT IN UKRAINE
BIDEN SAYS AUTHORIZING ADDITIONAL U.S. FORCES TO GERMANY
BIDEN SAYS OIL AND GAS COMPANIES SHOULD NOT EXPLOIT CRISIS, HIKE PRICES
BIDEN SAYS WILL RELEASE ADDITIONAL OIL FROM SPR AS WARRANTED
BIDEN SAYS IF RUSSIA PURSUES CYBER ATTACK, U.S. WILL RESPOND
BIDEN SAYS THIS IS A DANGEROUS MOMENT FOR EUROPE
BIDEN SAYS NEXT FEW WEEKS, MONTHS WILL BE HARD ON UKRAINIANS
BIDEN SAYS RUSSIAN ATTACK UNFOLDING LARGELY AS PREDICTED
BIDEN SAYS WILL LIMIT RUSSIA'S ABILITY TO DO BUSINESS IN DOLLARS, YEN
BIDEN SAYS BLOCKING FOUR MORE BANKS ON THURSDAY
BIDEN SAYS HAVE SANCTIONED RUSSIAN BANKS THAT HOLD $1 TRILLION IN ASSETS
BIDEN SAYS ESTIMATE SANCTIONS WILL CUT OFF MORE THAN HALF OF RUSSIA'S HIGH-TECH IMPORTS
BIDEN SAYS U.S. FORCES WILL NOT FIGHT IN UKRAINE
BIDEN SAYS AUTHORIZING ADDITIONAL U.S. FORCES TO GERMANY
BIDEN SAYS OIL AND GAS COMPANIES SHOULD NOT EXPLOIT CRISIS, HIKE PRICES
BIDEN SAYS WILL RELEASE ADDITIONAL OIL FROM SPR AS WARRANTED
BIDEN SAYS IF RUSSIA PURSUES CYBER ATTACK, U.S. WILL RESPOND
BIDEN SAYS THIS IS A DANGEROUS MOMENT FOR EUROPE
BIDEN SAYS NEXT FEW WEEKS, MONTHS WILL BE HARD ON UKRAINIANS
Stocks in News
Vesuvius India: Net profit for the December 2021 quarter declined 19 percent year-on-year to Rs 13.14 crore impacted by higher raw material cost and employee expenses, but revenue increased 10.4 percent to Rs 259 crore compared to year-ago period. The firm has declared dividend at Rs 8 per share for the financial year ended December 31, 2021.
Gillette India: Life Insurance Corporation of India bought 2,000 equity shares in the company via open market transactions on February 23. With this, LIC's stake in the company stands at 5 percent now, up from 4.99 percent earlier.
Linde India: The industrial gases company clocked 19.4 percent year-on-year growth in consolidated profit at Rs 67.8 crore for the quarter ended December 2021. Revenue during the same period grew by 35.5 percent to Rs 644.1 crore YoY. The firm said the board has declared a total dividend of Rs 13.50 per share for the year ended December 2021.
KSB: Profit grew at a healthy pace, rising 23.1 percent year-on-year to Rs 39.4 crore for the quarter ended December 2021 and revenue grew by 20.2 percent to Rs 444.6 crore during the same period. The dividend for the year ended December 2021 has been declared at Rs 12.50 per share by the pump manufacturer.
Hazoor Multi Projects: The company has bagged contract from Gayatri Projects for completion of balance work of Chainage in Ahmednagar, Maharashtra.
Cupid: The firm has received a purchase order from United National Population Fund (UNFPA) for suppry of Male condoms worth Rs 4.25 crore and water-based lubricant worth Rs 1.01 crore.
Arihant Capital Markets: The board members on March 3, will consider an interim dividend for the financial year 2021-22 and sub-division of face value of equity shares of the company from Rs 5 per share to Re 1 per share.
Minda Industries: The firm has acquired additional stake in two companies namely YA Auto Industries, and Auto Components, and bought fresh shares in Samaira Engineering, and SM Auto Industries.
Vesuvius India: Net profit for the December 2021 quarter declined 19 percent year-on-year to Rs 13.14 crore impacted by higher raw material cost and employee expenses, but revenue increased 10.4 percent to Rs 259 crore compared to year-ago period. The firm has declared dividend at Rs 8 per share for the financial year ended December 31, 2021.
Gillette India: Life Insurance Corporation of India bought 2,000 equity shares in the company via open market transactions on February 23. With this, LIC's stake in the company stands at 5 percent now, up from 4.99 percent earlier.
Linde India: The industrial gases company clocked 19.4 percent year-on-year growth in consolidated profit at Rs 67.8 crore for the quarter ended December 2021. Revenue during the same period grew by 35.5 percent to Rs 644.1 crore YoY. The firm said the board has declared a total dividend of Rs 13.50 per share for the year ended December 2021.
KSB: Profit grew at a healthy pace, rising 23.1 percent year-on-year to Rs 39.4 crore for the quarter ended December 2021 and revenue grew by 20.2 percent to Rs 444.6 crore during the same period. The dividend for the year ended December 2021 has been declared at Rs 12.50 per share by the pump manufacturer.
Hazoor Multi Projects: The company has bagged contract from Gayatri Projects for completion of balance work of Chainage in Ahmednagar, Maharashtra.
Cupid: The firm has received a purchase order from United National Population Fund (UNFPA) for suppry of Male condoms worth Rs 4.25 crore and water-based lubricant worth Rs 1.01 crore.
Arihant Capital Markets: The board members on March 3, will consider an interim dividend for the financial year 2021-22 and sub-division of face value of equity shares of the company from Rs 5 per share to Re 1 per share.
Minda Industries: The firm has acquired additional stake in two companies namely YA Auto Industries, and Auto Components, and bought fresh shares in Samaira Engineering, and SM Auto Industries.
Morning Alert..
Ukraine and Russia agree to talks without preconditions, says Zelenskiy
Ukrainian and Russian officials will meet for talks at a venue on the Belarusian border with Ukraine, President Volodymyr Zelenskiy’s office said. The talks, the first since Russia unleashed a full-scale invasion of Ukraine last week, would be held without preconditions and are the result of a phone call between Zelenskiy and the Belarusian president. Meanwhile, Russian President Vladimir Putin ordered his military command to put nuclear-armed forces on high alert on Sunday.
Hardware device makers slam govt's mandatory testing and certification plan
Hardware device makers, such as manufacturers of mobiles, PCs, laptops, tablets, and so on, have unanimously opposed a recommendation by the Joint Parliamentary Committee (JPC) that the Data Protection Authority (DPA) proposed to be set up under the draft Data Protection Bill, should regulate the monitoring, testing and certification of hardware devices. However, the move has found favour amongst some telecom operators. In various stakeholder meetings, they have pointed out that the government has already put in place a requirement for the testing of telecom equipment to ensure that any equipment that is connected to a network comes from “trusted sources”.
DMRC hires top consulting co for integration of metro services, e-commerce
The Delhi Metro has set the ball rolling on a visionary project that seeks to integrate its regular services with e-commerce via cutting-edge digital platforms, with the DMRC hiring a top consulting firm to work on the plan, official sources said. According to the vision, for instance, a rider may be able to order a product online while travelling in a metro train and will be able to get it at the destination station through advanced digital platforms of the urban transporter.
Commodity play
Gold – Rs 50634/10gm, Silver – Rs 64727/kg, Brcrude – Rs 7390/Barrel, Degumsyoil – Rs 1475/10kg, Copper – Rs 770/kg.
Corporate News
RIL – Future Retail shuts down most of its Big-Bazaar stores as Reliance plans takeover.
Tata Motors – Co bucks chip crisis, cements No. 1 position in SUV market.
Kalyan Jewellers – Co to accelerate expansion through franchise model in H1FY23.
Sector in focus - Banks, Sugar, IT and Infrastructure.
Ukraine and Russia agree to talks without preconditions, says Zelenskiy
Ukrainian and Russian officials will meet for talks at a venue on the Belarusian border with Ukraine, President Volodymyr Zelenskiy’s office said. The talks, the first since Russia unleashed a full-scale invasion of Ukraine last week, would be held without preconditions and are the result of a phone call between Zelenskiy and the Belarusian president. Meanwhile, Russian President Vladimir Putin ordered his military command to put nuclear-armed forces on high alert on Sunday.
Hardware device makers slam govt's mandatory testing and certification plan
Hardware device makers, such as manufacturers of mobiles, PCs, laptops, tablets, and so on, have unanimously opposed a recommendation by the Joint Parliamentary Committee (JPC) that the Data Protection Authority (DPA) proposed to be set up under the draft Data Protection Bill, should regulate the monitoring, testing and certification of hardware devices. However, the move has found favour amongst some telecom operators. In various stakeholder meetings, they have pointed out that the government has already put in place a requirement for the testing of telecom equipment to ensure that any equipment that is connected to a network comes from “trusted sources”.
DMRC hires top consulting co for integration of metro services, e-commerce
The Delhi Metro has set the ball rolling on a visionary project that seeks to integrate its regular services with e-commerce via cutting-edge digital platforms, with the DMRC hiring a top consulting firm to work on the plan, official sources said. According to the vision, for instance, a rider may be able to order a product online while travelling in a metro train and will be able to get it at the destination station through advanced digital platforms of the urban transporter.
Commodity play
Gold – Rs 50634/10gm, Silver – Rs 64727/kg, Brcrude – Rs 7390/Barrel, Degumsyoil – Rs 1475/10kg, Copper – Rs 770/kg.
Corporate News
RIL – Future Retail shuts down most of its Big-Bazaar stores as Reliance plans takeover.
Tata Motors – Co bucks chip crisis, cements No. 1 position in SUV market.
Kalyan Jewellers – Co to accelerate expansion through franchise model in H1FY23.
Sector in focus - Banks, Sugar, IT and Infrastructure.