March 15 witnessed a decline of over 4% in Biocon’s shares, triggered by the news of its subsidiary, Biocon Biologics, divesting its India-branded formulation business to Eris Lifesciences, a prominent player in chronic therapy drugs, for a substantial sum of Rs 1,242 crore. The transaction, valued at an accretive multiple of 3.4 times revenue and … Read more
Investors rushed to book profits after Ashok Leyland Limited witnessed a 3% rally, causing a 2% decline in its shares to Rs 161 during morning trade on March 15. Despite trading at Rs 162 at 10 am, down 1% from the previous close on the NSE, the stock has faced challenges this year, dropping nearly … Read more
In a significant development, shares of Crompton Greaves Consumer Electricals soared by 2.5% during morning trading on March 15, fueled by the company’s announcement of securing substantial orders from three key states: Maharashtra, Haryana, and Rajasthan. Under the purview of the PM-KUSUM scheme, Crompton Greaves is entrusted with the task of supplying, installing, testing, and … Read more
Shakti Pumps (India) witnessed a robust start to trading on March 15, with its shares locked at the 5% upper circuit limit following the company’s announcement of securing a substantial Rs 93-crore work order. As of 9:22 am, Shakti Pumps (India) was quoting at Rs 1,281.55 on the BSE, reflecting an increase of Rs 61. … Read more
Following RailTel’s announcement of securing a substantial Rs 113.46-crore work order from Odisha Computer Application Centre (OCAC), its shares experienced a notable surge of up to 7% on March 15. The contract entails the establishment of IP-MPLS network connectivity in Odisha as part of the OdishaNet Phase 1.0 initiative. As per the company’s regulatory filing, … Read more
In a significant development, Paytm’s shares soared by 5% on Friday, March 15, hitting the upper circuit limit. This surge follows the approval granted by the National Payments Corporation of India (NPCI) for Paytm’s parent company, One97 Communications, to operate as a third-party application provider for Unified Payments Interface (UPI) services. This milestone achievement comes … Read more
Following the green light from the National Payments Corporation of India (NPCI) allowing One97 Communications Limited to join the UPI platform as a third-party app, Paytm’s landscape is evolving with the integration of Yes Bank and Axis Bank onto its app interface, effective from early March 15. This integration heralds a new era, enabling users … Read more
Maharashtra-based non-banking finance company (NBFC) Manba Finance has taken a significant step forward in its growth trajectory by filing papers with the capital markets regulator to initiate an initial public offering (IPO). The IPO, exclusively comprising a fresh issue of 1,25,70,000 shares, marks a pivotal moment for Manba Finance as it seeks to raise funds … Read more
Biocon Biologics has announced a significant long-term commercial collaboration with Eris Lifesciences aimed at expanding patient access to a comprehensive portfolio of Metabolics, Oncology, and Critical Care products across India. As part of this collaboration, Biocon Biologics has entered into a 10-year supply agreement with Eris, slated to commence on April 1, 2024. The total … Read more
Equity benchmarks, the Sensex and the Nifty, showcased a notable turnaround on March 14, erasing early losses and ascending higher fueled by extensive buying activity spanning across sectors. Analysts, while optimistic about the market’s resilience, project a consolidation phase for the Nifty within the range of 22,400 to 21,800 in the near term, citing the … Read more
Investors in Transformers & Rectifiers India have witnessed an exceptional journey, with the stock surging by a staggering 4633% from ₹6.95 per share in April 2020 to ₹330 per share presently. Remarkably, each passing year has brought consistent returns, with the stock delivering over 50% returns annually since CY20. CY23 marked a pinnacle with a … Read more
India’s Wholesale Price Index (WPI)-based inflation experienced a slight easing to 0.2% in February, down from 0.27% in January, aligning with market expectations. This marginal decline comes amidst varying price movements across essential commodities, with fuel, power, and manufactured products witnessing reductions, while food prices and crude oil registered slight upticks compared to the previous … Read more
On March 14, around noon, both the Sensex and Nifty rebounded from earlier losses, trading 0.3 percent in the green. This resurgence was largely attributed to the strong performance of IT and construction stocks in the market. Notably, Infosys and L&T emerged as major contributors to the gains witnessed in the Nifty 50 index. The … Read more
As market turbulence persists, mid and small-cap retail investors find themselves caught in the storm, facing the brunt of widespread stock declines within these segments throughout the current quarter. Compared to previous years, retail investors are now more heavily invested in these stocks, heightening their exposure to the ongoing market downturn. Bloomberg’s recent report reveals … Read more
Following a significant correction of up to 15 percent earlier in the week, railway stocks saw a robust rebound on March 14, with RITES, IRFC, RVNL, and IRCON International Ltd registering intraday gains of up to 11%. A notable characteristic of many of these stocks is their limited free float, as the government holds up … Read more
Market Analysis: Navigating the Recent Downturn in Small and Midcap Stocks. The past month has presented challenging times for investors in the Nifty Midcap 100 and Nifty Smallcap 100 indices. With the Nifty Midcap 100 declining by 3.35% and the Nifty Smallcap 100 slipping by 7.61%, investors have faced significant headwinds in the current market … Read more
Federal Bank experienced a significant drop of more than 5 percent in its share value on March 14th following the decision to halt the issuance of co-branded credit cards, as directed by the Reserve Bank of India (RBI). So far this year, Federal Bank has faced a decline exceeding 5 percent, a contrast to the … Read more
SpiceJet’s shares witnessed a significant 8% surge in early trade on March 14th following the budget airline’s announcement of finalizing lease agreements for 10 aircraft. This strategic move aims to enhance the airline’s capacity ahead of the upcoming summer schedule. As of 10:53 am, shares of SpiceJet were trading at Rs 53.56 on the National … Read more
Adani Green Energy witnessed a substantial surge of almost 7 percent in its shares upon opening on the National Stock Exchange (NSE) on March 14th. This uptick comes on the heels of an announcement made by its subsidiary regarding the signing of a power purchase agreement with the Solar Energy Corporation of India (SECI) for … Read more
SJVN, the energy company, witnessed an impressive 11% surge in its shares on March 14th, following an announcement from its renewable arm, SJVN Green Energy Limited (SGEL). SGEL secured a Letter of Intent (LOI) from Gujarat Urja Vikas Nigam Limited (GUVNL) for a substantial 500MW Solar Project. The project, slated to be developed at GIPCL … Read more