12:42 PM
This infra stock has zoomed over 100% in 1 year; Elara sees more upside
Hindustan Construction Company rallied 15% to Rs 45.62 amid heavy volumes as Elara Capital initiated coverage on the stock with a ‘Buy’ rating. READ MORE
12:18 PM
Repco Home shares drop over 2% on CFO resignation; up 28% in 3 months
The fall came after the company announced that K Lakshmi tendered her resignation as chief financial officer (CFO). READ MORE
12:09 PM
Hyundai Motor India prepares for IPO filing, potential to raise $2.5 bn
Hyundai Motor India IPO: Indian unit of the Korean automaker is expected to file a DRHP with Sebi within the next two weeks. READ MORE
11:55 AM
Block deal: Mamaearth slides 5% after 6.6 mn shares change hands
Shares of Honasa Consumer, parent company of Mamaearth dropped by 4.8 per cent at Rs 435.05 per share on the BSE in Tuesday’s early morning trades. READ MORE
11:41 AM
State-owned BPCL planning to set up new refinery worth Rs 50,000 crore
The state-run oil marketing company will invest around Rs 50,000 crore in the project and is currently assessing locations in three states – Andhra Pradesh, Uttar Pradesh, and Gujarat. READ MORE
11:28 AM
JBM Auto rallies 4% on inking pact with MUON India for 2,000 electric buses
Macquarie Group has rolled out ‘Vertelo,’ an EV financing platform in India, offering financing, fleet management, and charging infrastructure solution READ MORE
11:14 AM
ALERT :: Tata Steel says it will continue with the announced closure of restructuring program at Port Talbot
>> The current heavy end assets of Port Talbot are nearing their end of life, are operationally unstable and are resulting in unsustainable financial losses.
>> The coke ovens, a critical facility for primary steelmaking, had to be closed in March 2024, as operations became infeasible and unsafe.
>> Therefore, the Company is compelled to continue with its plans to decommission Blast Furnace #5 at the end of June, followed by decommissioning of Blast Furnace #4 by the end of September.
>> The downstream assets will continue to service customers by utilising imported semi-finished steel till the new EAF is built and commissioned.
11:00 AM
CBI searches PNC Infra offices, summons MD Yogesh Jain; stock slips 10%
The media reports indicate that CBI caught two National Highways Authority of India (NHAI) officials accepting bribe of Rs 10 lakh from PNC employees in Madhya Pradesh to obtain final approval, no objection certificate (NOC), and for processing of final bill for NHAI’s Jhansi-Khajuraho project. READ MORE
10:45 AM
Stable govt, policy continuity, Budget: Why Nomura is positive on India
The confidence stems from the Narendra Modi-led NDA government taking charge at the Centre which, Nomura believes, appears to be stable, primarily due to the major number of seats held by the Bharatiya Janata Party (BJP) in the coalition government. READ MORE
10:17 AM
RVNL share price surge 3% on multiple order wins; up 52% in 3 months
In an exchange filing, RVNL said, “It is hereby informed that Siemens-RVNL consortium has received Letter of Acceptance (LoA) from Bangalore Metro Rail Corporation Ltd for engineering, supply, erection, testing and commissioning of 33 KV distribution, 750V DC third rail traction electrification including traction substations, auxiliary substations and SCADA system for Phase-2A & Phase 2 B.” READ MORE
9:58 AM
Crude oil strategy for June 11: Trend remains weak, WTI eyes support at $76
Prices have also found some support after US Energy Secretary Jennifer Granholm told media that the US could hasten the rate of replenishing the Strategic Petroleum Reserve as maintenance on the stockpile is completed by the end of the year. The replenishment of the SPR is needed after President Joe Biden ordered the sale of 180 million barrels over six months in 2022 in an effort to control fuel prices after Russia’s invasion of Ukraine. READ MORE
9:43 AM
These 3 F&O stocks have seen up to 35% long buildup; trading guide here
Amid the market rally, one out of every three futures & options stocks has gained more than 10 per cent during this period, with Aditya Birla Fashion Retail, Chambal Fertilisers and Ramco Cements leading the pack with gains in excess of 20 per cent each. READ MORE
9:32 AM
PTC Industries partners with various cos under DTIS scheme
>> The company has partnered with leading entities under the DTIS scheme in the Indian Defence and Aerospace sector to advance the ‘Make in India’ initiative.
