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Apr 21, 2024
Adani Transmission, Adani Green Energy among 183 BSE stocks to touch 52-week lows, 28 stocks hit 52-week high

Benchmark indices BSE Sensex and NSE Nifty traded with sharp cuts on Wednesday, as Sensex sank under the 60,000 level while Nifty declined 215 points, at 17,612. The sectoral indices and broader markets tumbled as well, and volatility gauge, India VIX soared 10.15%. Adani Enterprises, Reliance Industries, ICICI Bank, HDFC, HDFC Bank are the most active Nifty 50 stocks intraday.

Nifty 50 Gainers and Losers

On the NSE Nifty index, the top winners are Divi’s Lab, ITC, Bajaj Auto, Cipla with Divi’s Lab up 0.4%. The biggest laggards are Adani Enterprises, Adani Ports, Grasim, JSW Steel, Bajaj Finance, with Adani Enterprises down 10.2%.

71 stocks hit their lower price band including Adani Power, Adani Green Energy, Adani Total Gas, Adani Wilmar, NDTV, Focus Lighting and Fixtures, DB Realty, SVP Global Textiles. Additionally, 22 scrips hit both bands.

Stocks at 52 week highs and lows

On the NSE Nifty, 28 stocks hit their 52 week highs including Cera Sanitaryware, ION Exchange (India), Siemens, Blue Star, MPS, Cyient, Kaynes Technology India, Uniparts India, Focus Lighting and Fixtures, Universal Cables, Fourth Dimension Solutions, Aaron Industries, Vinny Overseas, Jindal Stainless, Jindal Saw among others.

Alternatively, 183 stocks including V-Mart Retail, Venky’s (India), Bata India, Shaily Engineering Plastics, Sheela Foam, Godrej Properties, Tide Water Oil Company (India), Adani Total Gas, IPCA Laboratories, Adani Transmission, India Motor Parts and Accessories, Motilal Oswal Financial Services, Amrutanjan Health Care, Century Textiles & Industries, Seamec, Adani Green Energy, Jindal Poly Films, BSE, Paras Defence and Space Technologies, GKW, Godrej Agrove, Olectra Greentech, Aarti Drugs, Harsha Engineers International, Laurus Labs, Biocon, Pokarna, Graphite India are at 52 week lows.

Volume Gainers

ITI, Suryalakshmi Cotton Mills, Aaron Industries, IRB Infrastructure Developers, Cheviot Company, IFB Industries, Johnson Controls – Hitachi Air Conditioning India, Manaksia Steels, Asahi Songwon Colors, Delhivery, Wockhardt are among the volume gainers on the NSE index.

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Apr 20, 2024
Mamit Mizoram Assembly Constituency Election 2023: Date of Result, Voting, Counting; Candidates

Mamit MZ Assembly Election 2023 Details: The election for Mamit Assembly Constituency in Mizoram will be held on November 7 this year. The final date of voting and result were known after the formal announcement by the Election Commission of India. Here are the important details of the Mamit Constituency Assembly Election 2023 that you should know.

Mamit Constituency Mizoram Assembly Election 2023: Voting Date

November 7 is the date of voting for the Mamit Assembly Constituency Election 2023 as announced by the Election Commission of India.

Mamit Constituency Mizoram Election 2023: Candidates List

Bharatiya Janta Party (BJP), Congress and other political parties in the state will announce their candidates for the Mamit Assembly Constituency Election 2023 after the announcement of voting dates by the Election Commission of India.

Why Mamit Constituency Assembly Election 2023 is Important

Mamit is a state Assembly/Vidhan Sabha constituency in the state of Mizoram and is part of the Mamit Lok Sabha/Parliamentary constituency. Mamit falls in the Mamit district of Mizoram and is categorised as an urban seat.

Mamit Constituency MZ Election Result: What happened in 2018

H Lalzirliana of the Mizo National Front was the winning candidate from the Mamit constituency in the MZ Assembly elections 2018, securing 6874 votes while 6467 votes were polled in favour of John Rotluangliana of the Indian National Congress. The margin of victory was 407 votes.

2018 Mamit Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesH LalzirlianaMizo National Front6874

Candidate List Party Name Votes Gained (Vote %) H Lalzirliana Mizo National Front 6874 (35.39%) John Rotluangliana Indian National Congress 6467 (33.29%) Malsawmtluanga Bharatiya Janata Party 4528 (23.31%) C Zothansanga Independent 1122 (5.78%) None Of The Above None Of The Above 190 (0.98%) Lianzuala National People’s Party 90 (0.46%) Lalawmpuia Chhangte Nationalist Congress Party 80 (0.41%) B Lalhmunzawnga Independent 75 (0.39%)

Mamit Constituency MZ Election Result: What happened in 2013

John Rotluangliana of the Indian National Congress was the winning candidate from the Mamit constituency in the MZ Assembly elections 2013, securing 7798 votes while 5308 votes were polled in favour of H B Lianmunga of the Mizo National Front. The margin of victory was 2490 votes.

2013 Mamit Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesJohn RotluanglianaIndian National Congress7798

Candidate List Party Name Votes Gained (Vote %) John Rotluangliana Indian National Congress 7798 (45.81%) H B Lianmunga Mizo National Front 5308 (31.19%) Biakthuama Molshoy Nationalist Congress Party 2368 (13.91%) H Laltanpuia Zoram Nationalist Party 1296 (7.61%) None Of The Above None Of The Above 151 (0.89%) C Darlianthanga Bharatiya Janata Party 100 (0.59%)

Mamit Constituency MZ Election Result: What happened in 2008

John Rotluangliana of the INC was the winning candidate from the Mamit constituency in the MZ Assembly elections 2008, securing 4421 votes while 2274 votes were polled in favour of Lalthlengliana of the MNF. The margin of victory was 2147 votes.

2008 Mamit Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesJohn RotluanglianaINC4421

Candidate List Party Name Votes Gained (Vote %) John Rotluangliana INC 4421 (31.98%) Lalthlengliana MNF 2274 (16.45%) Lallawmsanga Apetow IND 2211 (15.99%) Laltanpuia ZNP 2106 (15.23%) Lalromawia IND 1893 (13.69%) R Lalhmunmawia IND 366 (2.65%) Lalhluna BJP 232 (1.68%) Mathew Lalnunpuia NCP 107 (0.77%) Suresbihari LB 89 (0.64%) M Zarzoliana LJP 68 (0.49%) T Lalsanga JD(U) 57 (0.41%)

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Apr 17, 2024
Lunglei East Mizoram Assembly Constituency Election 2023: Date of Result, Voting, Counting; Candidates

Lunglei East MZ Assembly Election 2023 Details: The election for Lunglei East Assembly Constituency in Mizoram will be held on November 7 this year. The final date of voting and result were known after the formal announcement by the Election Commission of India. Here are the important details of the Lunglei East Constituency Assembly Election 2023 that you should know.

Lunglei East Constituency Mizoram Assembly Election 2023: Voting Date

November 7 is the date of voting for the Lunglei East Assembly Constituency Election 2023 as announced by the Election Commission of India.

Lunglei East Constituency Mizoram Election 2023: Candidates List

Bharatiya Janta Party (BJP), Congress and other political parties in the state will announce their candidates for the Lunglei East Assembly Constituency Election 2023 after the announcement of voting dates by the Election Commission of India.

Why Lunglei East Constituency Assembly Election 2023 is Important

Lunglei East is a state Assembly/Vidhan Sabha constituency in the state of Mizoram and is part of the Lunglei East Lok Sabha/Parliamentary constituency. Lunglei East falls in the Lunglei East district of Mizoram and is categorised as an urban seat.

Lunglei East Constituency MZ Election Result: What happened in 2018

Lawmawma Tochhawng of the Mizo National Front was the winning candidate from the Lunglei East constituency in the MZ Assembly elections 2018, securing 4063 votes while 3991 votes were polled in favour of Lalrinpuii of the Independent. The margin of victory was 72 votes.

2018 Lunglei East Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesLawmawma TochhawngMizo National Front4063

Candidate List Party Name Votes Gained (Vote %) Lawmawma Tochhawng Mizo National Front 4063 (32.91%) Lalrinpuii Independent 3991 (32.32%) Joseph Lalhimpuia Indian National Congress 3836 (31.07%) H Lalruata Bharatiya Janata Party 405 (3.28%) None Of The Above None Of The Above 52 (0.42%)

Lunglei East Constituency MZ Election Result: What happened in 2013

Joseph Lalhimpuia of the Indian National Congress was the winning candidate from the Lunglei East constituency in the MZ Assembly elections 2013, securing 5367 votes while 3756 votes were polled in favour of Lalrinzuala of the Mizoram People’s Conference. The margin of victory was 1611 votes.

2013 Lunglei East Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesJoseph LalhimpuiaIndian National Congress5367

Candidate List Party Name Votes Gained (Vote %) Joseph Lalhimpuia Indian National Congress 5367 (49.32%) Lalrinzuala Mizoram People’s Conference 3756 (34.52%) Pc Lalduhthlanga Zoram Nationalist Party 1661 (15.27%) None Of The Above None Of The Above 97 (0.89%)

Lunglei East Constituency MZ Election Result: What happened in 2008

Joseph Lalhimpuia of the INC was the winning candidate from the Lunglei East constituency in the MZ Assembly elections 2008, securing 3898 votes while 3475 votes were polled in favour of Samson Zoramthanga of the MNF. The margin of victory was 423 votes.

2008 Lunglei East Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesJoseph LalhimpuiaINC3898

Candidate List Party Name Votes Gained (Vote %) Joseph Lalhimpuia INC 3898 (39.8%) Samson Zoramthanga MNF 3475 (35.48%) H Lalthansanga IND 1765 (18.02%) Vanneia Hnamte ZNP 657 (6.71%)

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Apr 16, 2024
Nifty above 16150 would aim for 16450 as market texture bullish; Buy HCL Tech, PVR, charts show strength

By Shrikant Chouhan

On Tuesday, the benchmark indices witnessed a sharp pullback rally, after a promising intraday rally, the NSE Nifty 50 index ended 438 points higher while the BSE Sensex was up by 1,344 points. Among sectors, all the major sectoral indices ended in the green but metal index outperformed, rallying over over 6 per cent. Technically, after a positive opening the Nifty/ Sensex successfully cleared 16000/53500 breakout level and post breakout, it intensified the positive momentum throughout the day. In addition, on daily charts, it has formed a long bullish candle, which is broadly positive for the short term. We are of the view that the short term market texture is bullish but mildly overbought.

Technical stocks to buy

Bajaj FinanceBUY, CMP: Rs 5,837.3, TARGET: Rs 6,150, SL: Rs 5,700

For the past few weeks, the counter witnessed a vertical slide on the downside. However, post correction a strong rebound is seen from the important support zone. The formation of marubozu candlestick hints at bullish momentum to sustain in the coming horizon.

PVRBUY, CMP: Rs 1,772.7, TARGET: Rs 1,880, SL: Rs 1,730

The stock is trading into a range bound mode, and presently the counter is near the breakout line of the triangle chart pattern. Hence, the recent price action indicates a strong breakout in a few trading sessions.

Apollo TyresBUY, CMP: Rs 214.9, TARGET: Rs 227, SL: Rs 208

The stock is trading into a rising channel pattern forming the higher top and higher bottom series continuously. The strong bullish activity on the daily chart suggests that the counter is likely to maintain bullish continuation formation in the near term.

HCL TechBUY, CMP: Rs 1,082.9, TARGET: Rs 1,140, SL: Rs 1,060

The stock has underperformed in the past few weeks and it has witnessed a downtrend. However, in recent past sessions it entered into an accumulation phase near its important support area. Finally, a strong reversal candlestick formation indicates the resumption of a bullish uptrend in the coming horizon

(Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd. Views expressed are the author’s own.)

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Apr 15, 2024
India not keen to add debt securities to global indexes, TD says

India is not keen to add its bonds to global indexes due to their concerns over ensuing market volatility, even as the gauge providers look at including the debt, according to TD Securities. “The message that we received was loud and clear; officials and even domestic funds were content with the status quo,” Mitul Kotecha, head of emerging markets strategy at TD, wrote in a note, citing his meetings, including those with officials of the finance ministry and market participants. “However, this doesn’t rule out inclusion as index providers appear keen to include India, and we still may see some progress this year.” 

The note is in line with comments from Ajay Seth, Department of Economic Affairs Secretary at the nation’s finance ministry, who recently said it isn’t the “right time” to look at inclusion given the global situation. The rupee was the worst-performing currency among emerging Asian peers last year, weighed by a stronger dollar and outflows from local assets. 

There’s a global tide in favor of Asia’s emerging market assets, with Goldman Sachs Group Inc to HSBC Holdings Plc bullish on the region. Expectations are also rising for South Korea’s inclusion in global gauges, with the country’s finance officials meeting representatives from FTSE Russell.

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Apr 14, 2024
Markets Wrap – Fri, 3 Feb ‘23: Stocks skyrocket, rupee gains; Asia, Europe markets, Gold, Crude, Crypto updates

Domestic equity indices rallied over 1.5% on Friday with Sensex closing above 60,800 and Nifty 50 settling above 17,850. During the day indices remained volatile, but towards the end of the session, they surged, ending broadly in green. The top gainers of the BSE Sensex were Titan (up 6.87%), Bajaj Finserv (up 5.15%), Bajaj Finance (up 5.09%), HDFC Bank (up 3.46%) and HDFC (up 3.15%) while Wipro (down 4.80%), Tech Mahindra (down 5.65%), HCL Tech (down 0.32%), Tech Mahindra (down 0.22%) and HCL Tech (down 0.17%) were the losers.

The NSE Nifty 50 surged 243 points or 1.38% to 17,854.05 and BSE Sensex skyrocketed 909 pts or 1.52% to 60,841.88. In the sectoral indices, Bank Nifty rose 2.04%, Nifty Auto up 1.25%, Nifty IT up 0.10%, PSU Bank up 3.07% while Nifty Pharma fell 0.99%. After swinging in the volatile range for the past few sessions, Bank Nifty surged 830.40 pts or 2.04% to close 41,499.70 on Friday. The index’s top gainers were Bank of Baroda, HDFC Bank, State Bank of India, IndusInd Bank and PNB while IDFC First Bank was the lone loser.

Asian Markets

Asian markets closed on a mixed note on Friday. China’s Shanghai Composite index fell 22 pts or 0.68% settling at 3,263.41, Japan’s Nikkei 225 closed 107 pts or 0.39% higher at 27,509.46 and Hong Kong’s Hang Seng was down 297 pts or 1.36% at 21,660.47.

European Markets

European markets were trading mostly in green. England’s FTSE100 was trading at 7,828.10, up 67.08 points or 0.86% at 2:45 PM (IST). Europe’s Euronext100 was down 4 points or 0.30% at 1,339.86. France’s CAC was trading 54.50 points or 0.77% higher at 7,131.61. Germany’s DAX was up 200 points or 1.32% at 15,381.23.

US Markets

The US stock indices ended on a mixed note on Thursday. The Dow Jones Industrial Average (DJIA) fell 39.02 pts or 0.11% to 34,053.94, S&P500 rose 60.55 pts or 1.47% to 4,179.76 and the Nasdaq composite rose 384.50 pts or 3.25%, settling at 12,200.82.

Rupee movement

The Indian rupee appreciated 0.42% to 81.83 against the US dollar at 4:00 PM (IST).

Gold, Silver

Gold futures on the multi-commodity exchange for April delivery were trading at Rs 57,725.00 up 38 points or 0.05% while Silver futures for March delivery were down 200 points or 0.29% at Rs 70,003.00 at 2:55 PM (IST).

Crude oil

WTI Crude futures for February delivery were down 0.32% at $76.12 while Brent Crude futures for March delivery were trading 0.24% higher at $82.37 at 2:50 PM (IST).

Cryptocurrency

Bitcoin (BTC) at 3:00 PM (IST) was trading at $23,435.47, down by 1.52% in the last 24 hours. Its total market cap is $452,044,425,272. Ethereum (ETH) was trading at $1,642.05, down by 1.48% in the last 24 hours. It has a total market cap of $200,951,524,653.

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Apr 13, 2024
Adarsh Nagar Rajasthan Assembly Constituency Election 2023: Date of Result, Voting, Counting; Candidates

Adarsh Nagar RJ Assembly Election 2023 Details: The election for Adarsh Nagar Assembly Constituency in Rajasthan will be held on November 25 this year. The final date of voting and result were known after the formal announcement by the Election Commission of India. Here are the important details of the Adarsh Nagar Constituency Assembly Election 2023 that you should know.

Adarsh Nagar Constituency Rajasthan Assembly Election 2023: Voting Date

November 25 is the date of voting for the Adarsh Nagar Assembly Constituency Election 2023 as announced by the Election Commission of India.

Adarsh Nagar Constituency Rajasthan Election 2023: Candidates List

Bharatiya Janta Party (BJP), Congress and other political parties in the state will announce their candidates for the Adarsh Nagar Assembly Constituency Election 2023 after the announcement of voting dates by the Election Commission of India.

Why Adarsh Nagar Constituency Assembly Election 2023 is Important

Adarsh Nagar is a state Assembly/Vidhan Sabha constituency in the state of Rajasthan and is part of the Adarsh Nagar Lok Sabha/Parliamentary constituency. Adarsh Nagar falls in the Adarsh Nagar district of Rajasthan and is categorised as an urban seat.

Adarsh Nagar Constituency RJ Election Result: What happened in 2018

Rafeek Khan of the Indian National Congress was the winning candidate from the Adarsh Nagar constituency in the RJ Assembly elections 2018, securing 88541 votes while 75988 votes were polled in favour of Ashok Parnami of the Bharatiya Janata Party. The margin of victory was 12553 votes.

2018 Adarsh Nagar Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesRafeek KhanIndian National Congress88541

Candidate List Party Name Votes Gained (Vote %) Rafeek Khan Indian National Congress 88541 (50.78%) Ashok Parnami Bharatiya Janata Party 75988 (43.58%) None Of The Above None Of The Above 1493 (0.86%) Sandeep Sharma Independent 1280 (0.73%) Jitendra Kumar Hatwal Aam Aadmi Party 1247 (0.72%) Krishan Kishore Independent 1067 (0.61%) Pawan Gaur Independent 865 (0.5%) Baba Ashfakuddin Qureshi Independent 670 (0.38%) Farmida Bano Independent 634 (0.36%) Sanwar Lal Sharma Bahujan Samaj Party 618 (0.35%) Indra Kumar Chopra Bharat Vahini Party 174 (0.1%) Amit Vyas Independent 165 (0.09%) Mohasin Qureshi Independent 163 (0.09%) Lalchand Saini Independent 120 (0.07%) Mohammad Nadeem Independent 114 (0.07%) Shakil Independent 113 (0.06%) Badami Devi Independent 94 (0.05%) Mo Abdulla Independent 88 (0.05%) Abdul Saeed Indian Peoples Green Party 86 (0.05%) Ahsan Ahmad Ansari Rashtriya Loktantrik Party 86 (0.05%) Abdul Aziz (babbie) Independent 85 (0.05%) Yogesh Sharma Independent 82 (0.05%) Inderjeet Kaul Shiv Sena 82 (0.05%) Nrasingh Pandey Bharatiya Yuva Shakti 68 (0.04%) Moinudin Independent 65 (0.04%) Shahabuddin Bhartiya Panchyat Party 65 (0.04%) Riazuddin Independent 63 (0.04%) Mujeeb Khan Jago Party 60 (0.03%) Wasim Ahmad Independent 59 (0.03%) Badri Singh Independent 46 (0.03%) Rajneesh Gaur Independent 45 (0.03%) Rajendra Kumar Baswala Independent 45 (0.03%)

Adarsh Nagar Constituency RJ Election Result: What happened in 2013

Ashok Parnami of the Bharatiya Janata Party was the winning candidate from the Adarsh Nagar constituency in the RJ Assembly elections 2013, securing 70201 votes while 66398 votes were polled in favour of Mahir Azad of the Indian National Congress. The margin of victory was 3803 votes.

2013 Adarsh Nagar Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesAshok ParnamiBharatiya Janata Party70201

Candidate List Party Name Votes Gained (Vote %) Ashok Parnami Bharatiya Janata Party 70201 (47.22%) Mahir Azad Indian National Congress 66398 (44.66%) Durga Singh National People’s Party 1922 (1.29%) None Of The Above None Of The Above 1264 (0.85%) Goutam Sharma Independent 1050 (0.71%) Mo Idrish Independent 1018 (0.68%) Ahasan Ahmad Independent 956 (0.64%) Bimlesh Agarwal Independent 785 (0.53%) Saurabh Chhajer (jain) Independent 662 (0.45%) Hasan Raza Bahujan Samaj Party 595 (0.4%) Arvind Gupta Alias Rahul Gupta Jago Party 449 (0.3%) Mo Abdulaa Independent 440 (0.3%) Sunny Nakwal Independent 437 (0.29%) Sitaram Jaiswal Independent 367 (0.25%) Mo Yusuf (raja Babu) Independent 271 (0.18%) Mohd Shamim Independent 206 (0.14%) Sabir Khan Samajwadi Party 161 (0.11%) Haji Mohd Tahir Khan Independent 151 (0.1%) Tej Ram Bairwa Megh Desham Party 146 (0.1%) Abdul Lateef Independent 132 (0.09%) Dr Zakira Sultana Bharatiya Yuva Shakti 104 (0.07%) Rajender Bishnoi Independent 99 (0.07%) Baba Rizwan Qurshi All India Forward Bloc 93 (0.06%) Abdul Rasheed Independent 91 (0.06%) Sarita Jain Bharatiya Rashtravadi Samanta Party 90 (0.06%) Yogesh Kumar Sharma Independent 86 (0.06%) Mohammad Naseem Ansari Indian Peoples Green Party 84 (0.06%) Mustak Independent 80 (0.05%) Natawar Lal Garg Independent 75 (0.05%) Yogesh Independent 75 (0.05%) Ram Prasad Sharma Independent 63 (0.04%) Riyazul Hasan Independent 63 (0.04%) Mohammad Salim Bharatiya Bahujan Party 49 (0.03%)

Adarsh Nagar Constituency RJ Election Result: What happened in 2008

Ashok Parnami of the BJP was the winning candidate from the Adarsh Nagar constituency in the RJ Assembly elections 2008, securing 52983 votes while 51265 votes were polled in favour of Mahir Azad of the INC. The margin of victory was 1718 votes.

2008 Adarsh Nagar Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesAshok ParnamiBJP52983

Candidate List Party Name Votes Gained (Vote %) Ashok Parnami BJP 52983 (47.13%) Mahir Azad INC 51265 (45.6%) Deveya Kant BSP 1619 (1.44%) Riyajul Hassan IND 1193 (1.06%) Vimlesh Agarwal IND 1030 (0.92%) Ram Bilash Modi IND 955 (0.85%) Iftkhar Qureshi AIFB 665 (0.59%) Mohammad Idrish IND 652 (0.58%) Kallimudeen IND 633 (0.56%) Ramesh Chand IND 289 (0.26%) Bajrang Singh Jadoun SP 244 (0.22%) Tarvender Singh IND 242 (0.22%) Gupender Singh IND 178 (0.16%) Chand Qureshi IND 119 (0.11%) Anil Sharma IND 106 (0.09%) Aajam Khan IND 94 (0.08%) Farook Ali Khan LJP 85 (0.08%) Yogesh Kumar IJP 70 (0.06%)

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Apr 11, 2024
United Breweries, ACC, Ambuja Cement, Asian Paints, Bharat Electronics, BEML stocks in focus

Indian benchmark indices are likely to open on a mildly positive note, hinted SGX Nifty. On the Singapore Exchange, Nifty futures were in the green at the 17,887 level. In the previous session, Sensex closed marginally at 60,691, down 0.5% and the Nifty gave up 17,850. “Stocks are getting beaten ahead of the release of Fed minutes on Wednesday. Maintaining its guard against inflation, the Fed is expected to remain hawkish. As expected, it is unlikely to have a dire effect on the global stock market. However, the consequence of constant high interest rates is causing a slowdown in demand & the earnings outlook, hence the near-term trend will be cautious,”  said  Vinod Nair, Head of Research, Geojit Financial Services.

Stocks in focus on 21 February, Tuesday

United Breweries: The National Company Law Appellate Tribunal (NCLAT) dismissed UBL’s appeal filed against the CCI order dated September 24, 2021. UBL then filed a statutory appeal against the order of the NCLAT before the Supreme Court of India, which decided to stay the order passed by the NCLAT including the CCI’s recovery proceedings, upon a condition of pre-deposit of additional 10% total penalty amount (over and above the amount already subsisting 10% deposit before the NCLAT) by UBL.  

Bharat Electronics: The Delhi Metro launched India’s first ever indigenously developed Train Control & Supervision System, jointly developed by Bharat Electronics Limited (BEL) & Delhi Metro Rail Corporation (DMRC), the i-ATS (Indigenous – Automatic Train Supervision) for operations on its first corridor, Red Line.

BEML: BEML signed a Memorandum of Understanding (MoU) on 20.02.2023 with Delhi Metro Rail Corporation (DMRC) led SPV, who have been shortlisted for constructing the Bahrain Metro Rail Project Phase-1. As a part of this MoU, BEML will be responsible for manufacturing and supply of Metro Rolling Stock and DMRC will provide expertise in the fields of project development, budgeting and facilitating of contractual obligations.

ACC, Ambuja Cements: The firms stated that they will resume operations at Gagal and Darlaghat plants in Himachal Pradesh immediately. Both the firms’ new freight rates have been set 10-12% lower than the earlier rates.

United Spirits: The company’s board approved sale of all equity shares held in its non-operative wholly-owned subsidiary Sovereign Distilleries Limited (SDL) for Rs 32 crore. 

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Apr 11, 2024
India’s unwavering appetite for Russian crude oil lifts January inflows to record high

India’s appetite for Russian crude oil in January rose to unseen levels, continuing to remain above traditional middle eastern suppliers for the fourth month in a row, as refiners rushed to snap up plentiful cargoes available at a discount to other grades. From a market share of less than 1 per cent in India’s import basket before the start of the Russia-Ukraine conflict, Russia’s share of India’s imports rose to 1.27 million barrels per day in January, taking a 28 per cent share, according to energy cargo tracker Vortexa.

India, the world’s third-largest crude importer after China and the United States, has been snapping Russian oil that was available at a discount after some in the West shunned it as a means of punishing Moscow for its invasion of Ukraine. From a market share of just 0.2 per cent in India’s import basket before the start of the Russia-Ukraine conflict, Russia’s share of India’s imports rose to 28 per cent in January 2023.

“Unlike Iran and Venezuela, there are no sanctions on buying oil from Russia. So, anyone who can arrange for shipping, insurance and financing outside of the EU can buy oil,” an official said. The price caps are part of the EU’s plan to use its clout in insurance and shipping industries to crimp Moscow. “We will continue to buy oil from anywhere in the world, including Russia,” he said.

Under the price-cap system that kicked in on December 5, companies shipping Russian oil outside of Europe would only be able to access EU insurance and brokerage services if they sell the oil at or under USD 60.Industry sources said crude shipments being purchased by Indian companies were below the G7’s price cap of USD 60 per barrel.

“So for all practical purposes, if I can send a ship, cover insurance and device a mode of payment, I can continue to buy oil from Russia,” an official said, explaining how the mechanism works. “All options are on the table.” For Russia to keep oil sales going, it and its buyers need to use ships, insurance and financing outside the jurisdiction of the G-7. The US is comfortable with Russia selling its oil outside the cap but using non-Western shipping, insurance and banking services, which will likely be more costly.

Russia’s market share in January was an improvement over 26 per cent in December. Iraq, which was relegated to the second spot in October 2022, supplied some 20 per cent of all the oil India imported.Saudi Arabia shipped 17 per cent while the US improved its share to 9 per cent from 7 per cent in December. UAE supplied 8 per cent crude. All three middle-east suppliers improved their market share by one percentage point each, which came at the expense of Africa, whose share fell from 9 per cent to 6 per cent in January.

The rising share of Russian crude sales to India has also taken a toll on the country’s appetite for African crude. This, combined with a tighter market structure, as well as increased volatility in freight markets has led to the share of West African crude dropping from 12.5 per cent in 2021. Russian crude traded at a record discount of up to USD 40 per barrel in the aftermath of Russia’s invasion of Ukraine as key buyers in Europe shunned Moscow’s oil. The bulk of Russia’s crude exports flowed to refiners in Asia, with China and India being its key customers.

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Apr 8, 2024
Adani Enterprises, Nykaa, ONGC, SpiceJet, Biocon, SBI, Eicher Motors, SAIL, Castrol India stocks in focus

Indian benchmark indices are likely to open on a positive note, hinted SGX Nifty. On the Singapore Exchange, Nifty futures were in the green at 17834 level. In the previous session, BSE Sensex fell 251 pts to 60,432, while NSE Nifty 50 declined 86 pts to 17,771. “The dip in Nifty index has pushed the bulls slightly on the backfoot but they are not out of the game yet. A decisive close below 17650 in Nifty could turn the bias in the favor of further fall else range bound move would continue. Meanwhile, we reiterate our view to focus on stock-specific opportunities and maintaining positions on both sides,” said Ajit Mishra, VP – Technical Research, Religare Broking.

Stocks in focus on 14 February, Tuesday

FSN E-Commerce Ventures: The Nykaa Fashion operator has recorded a 71% on-year decline in consolidated profit at Rs 8.2 crore for the quarter ended December FY23, impacted by weak operating margin performance. Revenue from operations grew by 33.2% on-year to Rs 1,463 crore with strong GMV (gross merchandise value) growth of 37% on-year. On the operating front, EBITDA rose by 13.3% to Rs 78.2 crore with scale efficiencies in fulfilment and marketing expense, but EBITDA margin fell 94 bps to 5.34% for the quarter.

Zee Entertainment Enterprises: The media company has reported a 92% on-year decline in consolidated profit at Rs 24.31 crore for the quarter ended December FY23, dented by weak operating performance, lower topline and exceptional loss. Consolidated revenue from operations at Rs 2,111.2 crore fell by 0.07% compared to the year-ago period hit by lower advertisement revenue, but subscription revenue growth was strong at 13.2% in the same period. On the operating front, EBITDA fell by 27.5% on-year to Rs 343.8 crore with a margin decline of 615 bps in Q3FY23.

SpiceJet: In the share dispute case between SpiceJet CMD Ajay Singh and ex-promoter Kalanithi Maran, the Supreme Court on Monday directed the low-cost airline to invoke a bank guarantee of Rs 270 crore to pay Maran towards the dues from the arbitral award of Rs 572 crore. The apex court also directed SpiceJet to pay Rs 75 crore towards Maran’s claim of Rs 362 crore in interest dues.

Power Finance Corporation: The public sector company has recorded a 7.8% on-year increase in consolidated profit at Rs 3,860 crore for the three-month period ended December FY23, aided by a write-back of impairment on financial instruments. Net interest income for the quarter at Rs 7,218.7 crore declined by 7.1% compared to the year-ago period. The board has declared an interim dividend of Rs 3.50 per share for FY23.

NLC India: The coal mining company has posted a consolidated loss of Rs 406.7 crore for the December FY23 quarter dented by regulatory deferral account balances expenses, against a profit of Rs 231.1 crore in the year-ago period. Consolidated revenue for the quarter at Rs 3,679 crore jumped 35% over a year-ago period. On the operating front, EBITDA grew by 50.4% on-year to Rs 1,360 crore with a margin expansion of 387 bps for the quarter.

Linde India: The industrial gases company has reported a 62.3% on-year growth in consolidated profit at Rs 110 crore for the quarter ended December FY23, led by operating performance and partly by a low base. In Q3FY22, it had an exceptional loss of Rs 18.97 crore. Revenue for the quarter grew by 8.2% on-year to Rs 697 crore, while on the operating front, EBITDA jumped 13.4% on-year to Rs 167.8 crore with a margin expansion of 110 bps on-year.

Castrol India: The automotive and industrial lubricant manufacturing company has clocked a 2.5% on-year growth in profit at Rs 193.32 crore for the December FY23 quarter dented by weak operating performance. Revenue for the quarter at Rs 1,176 crore grew by 7.8% on-year. At the operating level, EBITDA fell by 5.8% on-year to Rs 250.6 crore with a margin contraction of 307 bps due to higher input cost.

SAIL: The steel production company has registered a 64.5% on-year decline in profit at Rs 542 crore for the quarter ended December FY23, impacted by lower topline and operating income. Revenue for the quarter at Rs 25,042 crore fell by 0.8% compared to the same period last year. At the operating level, EBITDA for the quarter dropped by 39% on-year to Rs 2,078.5 crore with a margin down by 517 bps. Numbers, barring topline, were better than analysts’ estimates.

Q3 Results today: Adani Enterprises, Eicher Motors, Grasim Industries, ONGC, Apollo Hospitals Enterprises, Aster DM Healthcare, Bata India, Bharat Forge, Biocon, Bosch, CESC, GMR Airports Infrastructure, Indiabulls Housing Finance, Ipca Laboratories, NBCC (India), NMDC, PI Industries, PNC Infratech, Prestige Estates Projects, Radico Khaitan, Siemens, Spencers Retail, SpiceJet, Swan Energy, and Torrent Power will be in focus ahead of quarterly earnings on 14 February.

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