CRISIL reaffirms credit ratings of Entertainment Network debt instruments and bank facilities; stock soars 2%

The long-term rating on the companys bank facilities was reaffirmed at CRISIL AA+/Stable and the short-term rating reaffirmed at CRISIL A1+.

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Market pulse at 10:30 AM today

Here is the stock market performance at 10:30 AM today.

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Persistent ranked as a Leader in ISG Provider Lens report 2021

Persistent is a Leader in the categories of Implementation Services for Marketing Cloud Midmarket, Implementation Services for Core Cloud Midmarket, and Managed Application Services Midmarket in the U.S. and Germany.

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Are you running 'circus' or govt: Cong to FM on withdrawal of cut in rate on small savings schemes

Taking a dig at finance minister Nirmala Sitharaman after she announced that the government will withdraw orders to cut interest rate on small savings schemes, the Congress on Thursday said one can imagine the functioning of economy when such duly approved order affecting crores of people can be issued by an "oversight".

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Everest Kanto Cylinder's sale of subsidiary EKC Industries (Tianjin) to You Yuan Office Union receives approval ; stock soars 5%

Everest Kanto Cylinder on Wednesday received in India a remittance equivalent of RMB 54.62M and EKC International FZE, Dubai has received a remittance equivalent of RMB 30.77M, proportionate to their Shareholding of 63.96% and 36.04% respectively in EKC Industries (Tianjin) Co. Ltd.

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Eight Core Industries index declines 4.6% in Feb 2021

Cumulatively, the index stands at (-)8.3% during April - February 2021.

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Srei receives global investors interest for capital infusion; Stock zooms 12%

The proposed capital infusion is expected to strengthen SEFL's capital base and help the company emerge out of pandemic induced stress in Indian financial services space.

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Wipro to acquire Australia-based Ampion to expand footprint in Asia Pacific region; Stock surges 2%

Wipro and Ampions combined offerings, powered by engineering transformation, DevOps and security consulting services will bring scale and market agility to respond to the growing demands of customers.

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Indian markets trade higher amid positive cues; Sensex tops 280 pts, Nifty 50 near 14,775; HCL Tech, Titan, Bajaj Auto top gainers

In the opening session, Sensex has touched an intraday high of 49,942.84 and Nifty 50 the day's high of 14,814.65.

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Hindalco gains 2% after subsidiary Novelis closes 500 Million Senior Green Notes offering

The net proceeds of the offering, together with cash on hand, will be used to repay a portion of Noveliss outstanding term loans due June 2, 2022.

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CRISIL upgrades Indiabulls Housing Finance outlook to Stable from Negative; stock trades higher

The long-term credit rating of the company has been reaffirmed at CRISIL AA.

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HCL to modernize and transform Tennecos technology landscape; stock jumps 3%

The company will help Tenneco enhance their IT simplification, modernization and transformation journey while helping to reduce technical complexities and support the global IT application portfolio.

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Likhitha Infrastructure secures orders worth Rs235cr; Stock surges 7%

The Company also received Rs169.47cr project for Cross-Country Pipeline laying and related works.

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Relief for Indian IT professionals: Biden lets Trump era H-1B visa bans expire

US President Joe Biden on Thursday let the ban on foreign workers visa, in particular H-1B, lapse as the notification issued by his predecessor Donald Trump expired, a move which is likely to benefit thousands of Indian IT professionals.

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Jet fuel price cut by 3% amid softer global crude rates

In the first reduction in rate in two months, jet fuel or ATF price on Thursday was cut by 3 per cent in line with softening international crude oil prices. Aviation turbine fuel (ATF) price was reduced by Rs 1,887 per kilolitre, or 3 per cent, to Rs 58,374.16 per kl in the national capital, according to a price notification of state-owned fuel retailers.

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Centre plans 60% borrowing by September

After borrowing at lowest cost since 2004-05, the Centre is hoping to raise funds at “reasonable” rates during the new fiscal year as it announced plans to complete 60% of the proposed market borrowings by September.

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PFC and REC reduce lending rates up to 2% from today

This initiative was undertaken to offer competitive rates, in line with the rates being offered by peers in the market.

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Government withdraws interest cut order on PPF, other small savings scheme

The government on Thursday decided to withdraw interest rates cut order on small savings schemes. "Interest rates of small savings schemes of GoI (government of India) shall continue to be at the rates which existed in the last quarter of 2020-2021, ie, rates that prevailed as of March 2021. Orders issued by oversight shall be withdrawn," Union finance minister Nirmala Sitharaman wrote on Twitter.

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Govt withdraws cut in interest rates of small savings schemes

A day earlier, in a blow to savers, the government had cut interest rates on small savings schemes, such as post office deposits and public provident fund, by up to 110 basis points. The new rates were to be effective today.

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Stock market news that you should not miss today

Here is the important stock market news to watch out for today.

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SGX Nifty trades lower; Indian markets may open positive tracking higher global cues

Asian markets opened well in the green led by the Japanese Nikkei which traded higher by over 350 points accompanied by gains in Taiwan & South Korean markets.

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Top stocks in focus: Axis Bank, HCL Tech, Hindalco, Hero MotoCorp, Adani Green Energy

Check out the stocks that will be in focus during trade today based on recent and latest news developments.

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Commodity Mantra Morning Update: Gold higher oil steady while base metals remain in mx trade

Here is our technical view on Commodities.

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Starting tomorrow, additional factor of authentication must on auto-payments; RBI 's new rules on recurring transactions

RBI has already increased the requirement of AFA on recurring transactions limit to Rs5,000 per transaction from January 01, 2021.

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CARE assigns 'A/Stable' rating on Ashiana Housing's NCDs; reaffirms rating

The rating continues to derive strength from the experience of the promoters, its vintage of operation for several decades and project execution capabilities.

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NTPC to close its 460 MW Talcher Thermal Power Station in Odisha

The company said on Tuesday that the power plant having a total installed capacity of 460 MW shall be discontinued w.e.f. March 31, 2021.

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Pearl Polymers appoints Anant Kanoi and Ramesh Mehra as Additional Directors

Anant Kanoi has also had exposure of working with international companies like Pepsi Co and Ford Motor Company in the past.

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Market pulse at 10:30 AM today

Here is the stock market performance at 10:30 AM today.

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Karnataka Bank operationalizes its wholly owned non-financial subsidiary KBL Services; Stock jumps 2%

This subsidiary of the Bank is established as conceptualized under the transformation journey 'KBL - VIKAAS' in achieving Bank's strategic objectives in the long run.

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Insectides (India) board approves buyback of 10.43 lakh shares worth Rs60cr

The buyback price is set at Rs575 apiece. The equity shares represent 5.1% of the paid-up capital of the company.

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India bounced back big way but not out of woods: World Bank

India's economy has bounced back amazingly from the Covid-19 pandemic and nationwide lockdown over the last one year, but it is not out of the woods yet, according to the World Bank, which in its latest report has predicted that the country's real GDP growth for fiscal year 21/22 could range from 7.5 to 12.5 per cent.

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Biden to let Trump’s H1-B visa ban expire in win for tech firms

Biden’s decision will please business groups, which had pressured the administration to lift the ban ever since the new president took office. Executives have grown frustrated that the directive was not immediately revoked, arguing it hurt US companies.

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Mahindra Holidays & Resorts Finnish arm extends suspension of operations till May 2; stock trades flat

The operations in 3 SPA hotels of Holiday Club Resorts Oy (HCR), Finland will continue to remain suspended till May 2, 2021, due to the rise in the number of Covid-19 cases.

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Axis Bank allots 1.5 lakh equity shares under ESOP; Stock trades higher

Axis Bank allots 1,53,023 equity shares under ESOP.

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Markets trade bearish; Sensex sheds 375 pts, Nifty 50 struggles near 14,760; Bank underperforms; HDFC twins, ICICI Bank drag

On the domestic front, banking stocks were the worst hit. HDFC twins along with heavyweights Infosys and ICICI Bank weigh down most on the benchmark.

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SEBI imposes restrictions on 6 promoters of ADF Foods; stock tumbles 1%

The company said, none of the persons against whom the aforesaid SEBI Order has been passed hold directorship of the company or are involved in the company's management at present.

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IDFC First Bank sets floor price of Rs60.34 per equity share on Rs3,000cr QIP issue; stock dips 1%

The Bank has fixed the floor price at Rs60.34 per equity share.

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Kalpataru Power Transmission secures Rs625cr orders; Stock jumps 2%

KPTLs international subsidiary also has secured new power transmission projects in Europe.

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Gig economy can service up to 90 million jobs: BCG

The gig economy has the potential to service up to 90 million jobs in India’s non-farm economy alone, transact over $250 billion in volume of work, and contribute an incremental 1.2% to India's GDP over the long term, says a report by the Boston Consulting Group (BCG).

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Digital outage hits HDFC Bank customers again

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Security breach: 8.2TB data up for sale on dark web

In a major data security lapse by a private entity, 8.2 terabytes — the largest such breach in India -- consisting of personal information of 3.5 million users, allegedly of payments platform MobiKwik, is up for sale on the dark web.

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Life is not always fair, says Mistry after SC loss

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Stock market news that you should not miss today

Here is the important stock market news to watch out for today.

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SGX Nifty indicates flat to bearish opening for Indian markets amid mixed global cues

For today expect some more consolidation with holiday-shortened week seeing profit booking in 2nd half even as both local & foreign investors turn buyers.

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Top stocks in focus: Ultratech Cement, IRB Infra, NHPC, HPCL, KNR Construction

Check out the stocks that will be in focus during trade today based on recent and latest news developments.

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Commodity Mantra Morning Update: Gold and Oil remain lower while base metals remain mixed

Here is our technical view on Commodities.

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Missed your turn? 'Recalculate' your career route

“Recalculating,” as the GPS often tells us when we are driving, may be our best career strategy after a year of uncertainty. Roadblocks or jams may lie ahead, but the route could be more scenic with twists and turns. Maybe another destination would even be better than the one we had planned.

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HDFC Bank extends special fixed deposits scheme for senior citizens till June 30; Stock jumps over 2%

The scheme 'Senior citizen Care FD' was launched in May last year, and offers 70 basis points extra interest to senior citizens compared to general categories.

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Apollo Hospital Enterprises seeks approval for amalgamation of two subsidiaries; stock zooms 2%

The Board also accepted the resignation of T. Rajgopal, Independent Director with effect from April 1.

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Tejnaksh Healthcare announces commercial availability of 'Tejnaksh' Urology Simulators; Stock jumps 4%

The simulators developed and patented by the Innovation Division of Tejnaksh Healthcare, headed by Dr. Ashish Rawandale- Patil.

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Market pulse at 10:30 AM today

Here is the stock market performance at 10:30 AM today.

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Nazara Technologies debuts at 81% premium against IPO issue price

The equity shares of Nazara Technologies are listed and admitted to dealings on the Sensex in the list of 'B' Group Securities.

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Ramco Industries invests Rs6cr in Lynks Logistics through Rights Issue; stock surges 1%

The company subscribes 5,98,27,333 equity shares to increase shareholding in Lynks to 23.78%.

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Maharashtra GST collections see 11.6% dip in pandemic year

Maharashtra is set to end the Covid-impacted financial year with Goods and Services Tax (GST) collections lower by 11.6% in comparison to the previous year. Data till March 25 shows that in 2019-20, the state collected Rs 1.85 lakh crore as GST, which fell to Rs 1.64 lakh crore in the current year—a Rs 21,594 crore shortfall.

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M&M stock in focus as board approves consolidation of Mahindra Electric Mobility

Mahindra Electricity Mobility is a step-down subsidiary of M&M.

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Rane Holding increases shareholding in Rane (Madras) to 68.47%; Stocks gain 2-4%

The company acquires 8,49,978 equity shares of Rs10 each fully paid up (1.95%) in its subsidiary RML arising on conversion of 8,49,978 warrants.

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Markets trade bullish led by broad-based buying; Sensex tops 670 pts, Nifty over 14,715; Consumer Durables outperform; Titan, ONGC, HUL lead

Metal and auto stocks will be in focus as companies will present their monthly production and sales data in the first week of April 2021.

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Cochin Shipyard delivers first 500 Pax passengers vessel 'Sindhu' to Andaman and Nicobar Administration

The ship would ply mainly between the group of islands but also can call the Main Land as necessary.

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Cyber Media allots 28 lakh equity shares to promoters on preferential basis

Pradeep Gupta and Dhaval Gupta are the promoters of the company.

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Wheels India board approves sale of fabrication plant at Deoli; stock gains 3%

The company in a board meeting decided to accede the Brand Agreement by execution of the deed of adherence. The Brand Agreement dated January 29, 2021, has been executed amongst various members of the TVS family.

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OCI card holders no longer required to carry old passports for India travel

People of Indian origin and the Indian diaspora having Overseas Citizens of India (OCI) cards are now not required to carry their old, expired passports for travel to India, as required earlier, according to a government notification that has been welcomed by members of the community.

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Repay compound interest paid by borrowers, IBA tells banks

The Indian Banks Association (IBA) has asked its members to exclude the moratorium period while calculating the number of days for deciding the status of a non-performing loan.

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IDBI Bank eyes stake sales in subsidiaries

IDBI Bank plans to ramp up growth, regain lost corporate customers and sell stakes in its insurance, capital markets and technology arms following its exit from the banking regulator’s prompt corrective action (PCA) framework for weak lenders.

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Sharp virus surge, rising risk of renewed lockdowns throw India's steady recovery in doubt

While RBI Governor Shaktikanta Das has said he doesn’t see any immediate threat to activity, economists see a bumpy road ahead given that Maharashtra, which contributes 14.5% to the country’s GDP, is among the worst hit and accounts for the majority of cases. The state has imposed a night curfew to tamp down cases that have been rising.

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Stock market news that you should not miss today

Here is the important stock market news to watch out for today.

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SGX Nifty trades higher, indicating a positive opening for Indian markets

This holiday-shortened week will see some consolidation with global cues positive & local news seeing a surge in Covid cases.

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Top stocks in focus: Adani Transmission, HPCL, Biocon, Minda Industries, Vascon Engineers

Check out the stocks that will be in focus during trade today based on recent and latest news developments.

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Commodity Mantra Morning Update: Gold lower, oil higher, base metals remain mix

Here is our technical view on Commodities.

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Opec+ to reconvene to navigate crude market volatility

The Opec+ grouping of oil producers will hold its third ministerial summit of the year via videoconference Thursday to discuss output cuts in the face of fresh price volatility.

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Visa moves to allow payment settlements using cryptocurrency

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India, US agree to revamp strategic energy partnership

India and the United States have agreed to revamp their strategic energy partnership to focus on greater collaboration in cleaner energy sectors such as biofuels, and hydrogen production, the government said in a statement on Monday.

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Small SUVs see highest price hikes in 3 years

The hikes include both regulatory costs as well as raw material price rises, said car marketers. “What we are witnessing is that the pricing power for OEMs differs across segments. Sedans are classic example. The segment has declined and value perception for SUVs, MPVs has improved, allowing OEMs to implement tougher price increases,” said Ravi Bhatia, country hesad, JATO.

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China warns companies against politicising actions over Xinjiang

H&M, Burberry, Nike and Adidas and other western brands have been hit by consumer boycotts in China since last week over comments about their sourcing of cotton in Xinjiang. The growing rift comes as the United States and other Western governments increase pressure on China over suspected human rights abuses in the western region.

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Small SUVs see highest price hikes in 3 years

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India fastest growing open source contributor: GitHub

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Govt, exporters hope USTR goes slow on retaliatory levy

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Delhi has 3rd highest share of 15-year-old vehicles in India

Delhi has nearly 50 lakh registered vehicles that are over 15 years old and the national capital has the third-highest share of such vehicles in the country. Moreover, 70% of these are more than 20 years old. Karnataka tops the list among states with approximately 70.1 lakh 15-year-old plus vehicles, followed by Uttar Pradesh having nearly 56.5 lakh such vehicles.

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Beer sales get boost from state excise policies

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IPO-bound Delhivery sees exit of 2 co-founders

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India against Asean in supply chain trilateral

“We aren’t keen on Asean joining the initiative right now. We need to safeguard our interests and China’s influence through the grouping is a concern,” said an official.

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Will study retaliatory tariffs proposed by US Trade Representative: Officials

Experts said India can raise a dispute at the World Trade Organization (WTO) if the US imposes any such tariffs, and draw up its own list of retaliatory actions such as banning American audio-video streaming services, social media platforms and credit cards.

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Amid surge in COVID-19 cases, RBI likely to maintain status quo: Experts

Amid uncertainty created by surge in coronavirus cases, the Reserve Bank of India (RBI) is likely to maintain status quo at its next monetary policy review and wait for some more time before taking any action to spur growth.

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Industry body calls for incentives to boost demand for industrial park in Amritsar

The Industry department said that various facilities and amenities has thoughtfully designed in the industrial park and these are conveniently located to ensure comfort and easy use by all.

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TRAI writes to key ministries, associations, on new norms for bulk SMS

TRAI has written to key ministries, associations like COAI and Nasscom and nodal agencies like NIC in a massive information outreach as it pulls out all stops to ensure smooth implementation of its new regulations on bulk messages after March 31.

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Sugar sector growth likely to improve in Q4FY21, says Indian Ratings and Research

Besides, Ind-Ra expects India's sugar production to increase 10 per cent YoY to around 30 million tonne (mnt) in sugar season 2020-21 (SS21), led by a sharp rebound in production in Maharashtra to 10.5 mnt.

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India's coal import drops 14 pc in Apr-Feb FY21

The country had imported 227.23 MT of coal in the year-ago period, according to a report by mjunction services.

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Public procurement from GeM portal crosses Rs 1 lakh cr: CEO Talleen Kumar

The portal provides a wide range of products from office stationery to vehicles. Automobiles, computers and office furniture are currently the top product categories. Services, including transportation, logistics, waste management, web casting and analytical, are listed on the portal.

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Target of doubling farm income won't be achieved without new agri laws: Niti's Ramesh Chand

The government and unions representing farmers, who have been camping at Delhi's border for four months in protest against the three laws that they say will end state procurement of crops at MSP, have held 11 rounds of talks, the last being on January 22. Talks broke down after widespread violence during a tractor rally by protesting farmers on January 26.

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Over 4 cr old vehicles on Indian roads, Karnataka tops list at 70 lakh

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Seven of top 10 companies lose over Rs 1 lakh cr in m-cap

The market capitalisation of Bajaj Finance plunged Rs 16,197.55 crore to Rs 3,12,327.04 crore and that of State Bank of India (SBI) went lower by Rs 12,494.45 crore to Rs 3,18,697.88 crore.

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Govt unlikely to continue with zero-coupon bond route to recap PSBs

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View: Wanted, a bill to fix Indian manufacturing

It is time because this time the government is showing real intent and desire to achieve this goal. From broad initiatives like Make in India and Atmanirbhar to specific policies like PMI that will cost the government lakhs of crores, there is definitely both intent and effort to push Indian manufacturing.

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US proposes tit-for-tat tariffs over e-commerce tax

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CBDT notifies scheme for registration of trusts, charitable institutions

The Board has specified forms that applicants would have to use for registration and has also identified documents or statements that any fund, trust, institution, university, hospital or other medical institution would have to submit to claim tax exemptions.

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2 Indian-origin Singaporean entrepreneurs urge India to not ban crypto currencies

"The point was to show Indians and people of colour that they too could be patrons, that crypto was an equalising power between the West and the Rest, and that the global south was rising," the Singapore-based newspaper quoted the duo as saying.

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AEPC urges govt to put curbs on cotton yarn exports

The Apparel Export Promotion Council (AEPC) on Saturday urged the government to impose restrictions on exports of cotton yarn in order to curb prices and increase supply for domestic manufacturers.

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SC: Corporate guarantor can face insolvency action

The Supreme Court on Friday ruled that a bank can initiate proceedings under the Insolvency and Bankruptcy Code (IBC) against a corporate guarantor if the principal borrower defaults on repayment of loans and the debt is declared nonperforming asset (NPA).

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'Passengers to be put on no-fly list for violating Covid norms'

As the Covid-19 cases in the country are surging, Union civil aviation minister Hardeep Singh Puri on Friday said that the airport authorities have been directed to put passengers on the 'no-fly' list if they do not follow the SoPs and guidelines to curb Covid-19.

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Disinvestment target of FY22 achievable; LIC IPO to bring in Rs 1 lakh crore: CEA

Speaking at a virtual conference by Jana Small Finance Bank, Subramanian said the disinvestment target of Rs 1.75 lakh crore for 2021-22 is actually a carry over of the Rs 2.10 lakh crore target set for the current fiscal ending March 31.

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LIC IPO to bring in Rs 1 lakh crore: CEA

Asserting that the disinvestment target of Rs 1.75 lakh crore for 2021-22 was "imminently achievable", chief economic adviser (CEA) K V Subramanian on Saturday said the proposed initial public offering (IPO) by LIC itself could garner Rs 1 lakh crore for the government.

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SCI retirees worried, PSU yet to execute medical scheme

Naresh Ranjan (name changed on request), a 77-year old Shipping Corporation of India (SCI) retiree ran up a medical bill of Rs 22 lakh after a two week long recent stay in a private hospital for a cardiac aliment.

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Privatisation of Air India likely to be completed by May end, says Hardeep Puri

Union civil aviation minister Hardeep Singh Puri on Saturday stated that the privatisation of Air India is likely to be completed by the end of May. "At a meeting on Monday, it was decided that the government will close the financial bids within 64 days," Puri told ANI, adding that there were multiple bidders and some have been shortlisted.

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