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Market LIVE Updates: Indices near day’s high, Nifty around 18K; Tech Mahindra, HDFC Life top gainers –

November 12, 2021 / 01:14 PM IST

Alkem Laboratories Q2 results:

Alkem Laboratories has reported 15.3 percent jump in its Q2 net profit at Rs 544.3 crore versus Rs 472.1 crore and revenue was up 18.5 percent at Rs 2,800 crore versus Rs 2,362.8 crore, YoY

Earnings before interest, tax, depreciation and amortization (EBITDA) was up 4 percent at Rs 624.4 crore versus Rs 600.4 crore and margin was at 22.3 percent versus 25.4 percent, YoY.

Alkem Laboratories was quoting at Rs 3,573.25, up Rs 41.40, or 1.17 percent.

November 12, 2021 / 01:12 PM IST

Abbott India Q2 earnings:

Abbott India has reported Q2 net profit at Rs 192.3 crore versus Rs 180.7 crore, a growth of 6.4 percent YoY and revenue was up 15.8 percent at Rs 1,222.1 crore versus Rs 1,054.9 crore.

Earnings before interest, tax, depreciation and amortization (EBITDA) up 7.8 percent at Rs 259.7 crore versus Rs 240.8 crore and margin was at 21.3 percent versus 22.8 percent, YoY.

Abbott India was quoting at Rs 19,763.65, down Rs 243.75, or 1.22 percent.

November 12, 2021 / 01:02 PM IST

Market at 1 PMBenchmark indices extended the gains and trading the day’s high level with Nifty around 18000.The Sensex was up 398.69 points or 0.67% at 60318.38, and the Nifty was up 121.70 points or 0.68% at 17995.30. About 1472 shares have advanced, 1546 shares declined, and 115 shares are unchanged.

November 12, 2021 / 12:51 PM IST

Indiabulls Housing Finance to raise Rs 5000 crore

Indiabulls Housing Finance board approved issuance of unsecured and/or secured, listed and/or unlisted, redeemable non-convertible debentures, with or without warrants or any other similar security denominated in INR, or combination thereof, in one or more tranches for an aggregate amount up to Rs 5,000 crore (equivalent currency) on private placement or public issue basis or otherwise.

The company reported lower consolidated profit at Rs 286.3 crore in Q2FY22 against Rs 323.2 crore in Q2FY21, revenue fell to Rs 2,232.8 crore from Rs 2,533.7 crore YoY. The board approved raising up to Rs 5,000 crore.

Indiabulls Housing Finance was quoting at Rs 231.45, down Rs 5.55, or 2.34 percent.

November 12, 2021 / 12:39 PM IST

SML Isuzu Q2 earnings:

SML Isuzu has posted net loss at Rs 29.1 crore versus loss of Rs 34.7 crore and revenue was up 93.1% at Rs 232.7 crore versus Rs 120.5 crore, YoY.

EBITDA loss was at Rs 16.1 crore against loss of Rs 18.3 crore, YoY.

At 12:28 hrs SML Isuzu was quoting at Rs 791.25, down Rs 40.85, or 4.91 percent.

November 12, 2021 / 12:28 PM IST

Go Fashion fixes IPO price band at Rs 655-690 per share

Go Fashion, a women’s bottom-wear brand, has fixed a price band at Rs 655-690 per share for its initial public offering on November 12. 

The offer will open on November 17 and will continue till November 22, as there was a holiday November 19.

The company aims to garner Rs 1,013.6 crore through its public issue that consists of a fresh issue of Rs 125 crore and an offer for sale of Rs 888.6 crore by selling shareholders including promoters – PKS Family Trust, & VKS Family Trust.

November 12, 2021 / 12:15 PM IST

Sun Pharmaceutical to launch Merck’s Molnupiravir in India

Sun Pharmaceutical Industries is gearing up to introduce Merck Sharpe Dohme (MSD) and Ridgeback’s molnupiravir under the brand name Molxvir in India.

The Drugs Controller General of India (DCGI) is currently reviewing clinical data of molnupiravir for the treatment of COVID-19 in adults in India. Earlier this year, Sun Pharma had signed a non-exclusive voluntary licensing agreement with MSD to manufacture and supply molnupiravir in India and to over 100 low and middle-income countries (LMICs), company said in the release.

Sun Pharmaceutical Industries was quoting at Rs 798.65, up Rs 4.60, or 0.58 percent.

November 12, 2021 / 12:05 PM IST

Market at 12 PMBenchmark indices extended the intraday gains and trading near the day’s high level.The Sensex was up 301.20 points or 0.50% at 60220.89, and the Nifty was up 100 points or 0.56% at 17973.60. About 1415 shares have advanced, 1524 shares declined, and 141 shares are unchanged.

Market at 12 PM Benchmark indices extended the intraday gains and trading near the day's high level. The Sensex was up 301.20 points or 0.50% at 60220.89, and the Nifty was up 100 points or 0.56% at 17973.60. About 1415 shares have advanced, 1524 shares declined, and 141 shares are unchanged.

November 12, 2021 / 12:03 PM IST

Railtel Corporation terminates contract with Margo Networks:

Railtel Corporation of India share price fell on November 12 after company terminated content on demand-COD contract awarded to Margo Networks.

“The Content on Demand-COD contract awarded to M/s. Margo Networks Pvt. Ltd on 14/01/2020 for providing Content on Demand (COD} service in all Mail/Express and Suburban trains and all Wi-Fi enabled Railway Stations on a Build Own Operate (BOO) basis for a 10 years period (with minimum guarantee of Rs 63 crore per annum) has been terminated by RailTel w.e.f. 11/11/2021 due to non-performance by the contractor,” company said in its press release.

Margo Networks Pvt. Ltd is a subsidiary of Zee Entertainment Enterprises.

The company has initiated appropriate legal proceedings against the notice of termination, Zee Entertainment Enterprises said in its release.

Railtel Corporation of India has reported consolidated profit of Rs 67.50 crore in the quarter ended September 2021 against profit of Rs 29.22 crore in the same quarter last fiscal.

Its revenue for the said quarter was at Rs 358.49 crore versus Rs 282.96 crore, YoY.

November 12, 2021 / 11:46 AM IST

Hero Motocorp Q2 Results Preview: Here Is What Analysts Are Expecting

Hero Motocorp Q2 Results Preview: Here Is What Analysts Are Expecting

India’s largest two-wheeler manufacturer is scheduled to declare its results for July-September quarter for FY22 on November 12. On a quarterly basis, the net profit is expected to increase by about 80 percent and revenues are likely to grow nearly 45 percent.

November 12, 2021 / 11:33 AM IST

Latent View Analytics IPO subscribed 32.82 times on final day

The public issue of Latent View Analytics has seen overwhelming response from investors as it received bids for 57.51 crore equity shares against IPO size of 1.75 crore equity shares, resulting into a 32.82 times subscription on November 12, the final day of bidding.

Investors showed strong interest in the offer as retail investors bought shares 84.65 times their reserved portion and employees put in bids 2.83 times the portion set aside for them.

The part reserved for qualified institutional buyers was subscribed 3.78 times, and that of non-institutional investors saw 58.57 times subscription.

November 12, 2021 / 11:27 AM IST

YES Securities downgrades Oil India to ‘sell’ even as Q2 profit doubles

Oil India share price was up over 2 percent on November 12, a day after the company declared its Q2 earnings.

The state-owned firm on November 11 reported more than doubling of its September 2021 quarter net profit, on back of a surge in oil and gas prices. The net profit stood at Rs 504.46 crore, or Rs 4.65 a share, in July-September 2021 compared with Rs 238.95 crore, or Rs 2.20 per share, a year ago, the company said in a statement.

Despite reporting more than double net profit in the September quarter, YES Securities has a sell recommendation on the stock with a target of Rs 185 per share, a downside of 20 percent from the current market price.