Market at 1 PMBenchmark indices erased some of the intraday gains but still trading higher with Nifty around 16000.The Sensex was up 474.40 points or 0.89% at 53709.17, and the Nifty was up 146.40 points or 0.92% at 15981.80. About 2126 shares have advanced, 919 shares declined, and 126 shares are unchanged.
Edelweiss Broking announces public issue of NCDs aggregating up to Rs 300 crore
Edelweiss Broking announced the public issue of Secured Redeemable Non-Convertible Debentures (NCDs) of face value of Rs 1,000 each, aggregating up to Rs 150 crore, with an option to retain over-subscription up to Rs 150 crore aggregating up to Rs 300 crore.
Fitch affirms NTPC at ‘BBB-‘; outlook stable
Fitch Ratings has affirmed India-based NTPC Limited’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at ‘BBB-‘. The outlook is stable.
The agency has also affirmed NTPC’s senior unsecured rating of ‘BBB-‘, and the ‘BBB-‘ ratings on the USD 6 billion medium-term note programme and the notes issued under the programme.
NTPC was quoting at Rs 142.25, up Rs 0.85, or 0.60 percent on the BSE.
Vedanta’s metal production increases 14%:Vedanta’s alumina production in Q1FY23 at Lanjigarh refinery increased marginally YoY to 4.85 lakh tonnes, up 1% YoY due to scheduled maintenance in April 2022. The cast metal aluminium production at smelters rose by 3% YoY to 5.65 lakh tonnes. Mined metal production grew 14% YoY to 2.52 lakh tonnes on account of higher ore production across all the mines and supported by better mill recovery. Total saleable production was at 2.68,523 tonnes, lower by 7% YoY due to debottlenecking activities in blast furnace-3 and gunning of blast furnace-2. Overall power sales increased by 32% YoY to 3,577 million units.
Motilal Oswal sees enough levers for LIC to grow, expects 20% upside
Initiating coverage on the insurance behemoth, the brokerage firm fixed the fair value at Rs 830. This is, however, still less than the IPO price of Rs 949
BSE Information Technology index added 1 percent led by the D-Link (India), Brightcom Group, Quick Heal Technologies
Buzzing:
Kirloskar Ferrous Industries has completed an upgradation of its mini blast furnace II (‘MBF-11’) at Koppal plant, Karnataka.
After an upgrade, the manufacturing capacity of pig iron in respect of MBF-11 has increased from 1,80,000 metric tonne per annum to 2, 17,600 metric tonne per annum and consequently, total manufacturing capacity of pig iron at company level has increased to 6.09 lakh metric tonne per annum.
Kirloskar Ferrous Industries was quoting at Rs 193.55, up Rs 4.40, or 2.33 percent on the BSE.
Sigachi Industries ventures into the human nutritional segmentSigachi Industries Limited, India has ventured into the human nutritional segment, with a prime focus on B2B markets, in India and across the globe.
Ujjivan Small Finance Bank Q1 Update
Nifty Bank index added 1 percent supported by the Bandhan Bank, Bank of Baroda, ICICI Bank
Market update at 12 PM: Sensex is up 596.22 points or 1.12% at 53830.99, and the Nifty jumped 176.10 points or 1.11% at 16011.50.
With Rationalization of rates, idea is to remove inversion. Correction of inversion is to pass on the benefit of inversion to a reduced cost to the consumer, says DP Nagendra Kumar, Member GST, CBIC pic.twitter.com/iOZx0jIDVh
— CNBC-TV18 (@CNBCTV18Live) July 5, 2022
