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Reputation: 180,974  •  Just now
Vikramjit Singh resigns as president of Lemon Tree Hotels
Vikramjit Singh resigns as president of Lemon Tree Hotels
Lemon Tree Hotels announced in a regulatory filing that Vikramjit Singh, the company's president, has resigned to pursue entrepreneurial endeavors. The resignation, effective January 31, 2024, was disclosed on Wednesday. Singh has served the hotel chain for 18 years. In his resignation letter, Singh cited no 'material reasons' for his departure.
The Economic Times

𝗡𝗲𝘄𝘀 𝗦𝘂𝗺𝗺𝗮𝗿𝘆
• Vikramjit Singh has resigned as the president of Lemon Tree Hotels to pursue entrepreneurial endeavors.
• Singh has served the hotel chain for 18 years and his resignation will be effective January 31, 2024.
• The company stated that Singh's absence will......read more

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Reputation: 180,974  •  Just now
Thomas Cook India announces OFS for promoter
Thomas Cook India announces OFS for promoter
The company plans to sell 6.8 percent of the equity capital at a floor price of Rs 125 per equity share and given an option to sell 8 percent of the company if the issue over subcribes
Moneycontrol

𝗡𝗲𝘄𝘀 𝗦𝘂𝗺𝗺𝗮𝗿𝘆
• Thomas Cook India announced an Offer For Sale (OFS) for their promoter Fairbridge Capital (Mauritius), with a floor price of Rs 125 per equity share.
• The OFS will involve the sale of 6.8 percent of the company's equity capital, with an option to sell a......read more

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Corporate debt servicing improves despite higher interest cost
Corporate debt servicing improves despite higher interest cost
Despite a 60 basis point (0.60 percent) increase in policy rates between September 2022 and September 2023, corporate debt servicing, as measured by the interest coverage ratio (ICR), improved from 4.49 in September 2022 to 5.64 in September 2023. This suggests that higher lending rates have not negatively impacted the debt-servicing capacity of Indian firms. The interest coverage ratio is a measure of a firm's ability to service its debt.
The Economic Times

𝗡𝗲𝘄𝘀 𝗦𝘂𝗺𝗺𝗮𝗿𝘆
• Despite a 60 basis point increase in policy rates, corporate debt servicing in India has improved, with the interest coverage ratio increasing from 4.49 to 5.64.
• This improvement is due to lower growth in interest costs and higher growth in profits.
• ......read more

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Reputation: 180,974  •  Just now
AMD design centre puts India on way to the top of chip value chain
AMD design centre puts India on way to the top of chip value chain
Semiconductor giant AMD has inaugurated its largest global design centre in Bengaluru which will employ about 3000 engineers Earlier this year, Micron announced setting up an assembly, testing and packaging plant in Gujarat. These moves position India across the semiconductor value chain a critical industry essential for digital devices. India's focus on chip design, backed by initiatives like Productivity-Linked Incentives and skill development, complements its aspiration to become a significant player in the semiconductor market.
The Economic Times

𝗡𝗲𝘄𝘀 𝗦𝘂𝗺𝗺𝗮𝗿𝘆
• Semiconductor giant AMD has inaugurated its largest global design centre in Bengaluru, which will employ approximately 3,000 engineers.
• India's focus on chip design, backed by initiatives like Productivity-Linked Incentives and skill development, compl......read more

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Reputation: 180,974  •  Just now
Breakout Stocks: How Aster DM, Borosil Renewables and Torrent Power are looking on charts on Thursday’s trade?
Breakout Stocks: How Aster DM, Borosil Renewables and Torrent Power are looking on charts on Thursday’s trade?
Sectors that were in focus include banks, auto, IT, oil & gas, and capital goods. Selling was seen in realty and consumer durable stocks.
The Economic Times

𝗡𝗲𝘄𝘀 𝗦𝘂𝗺𝗺𝗮𝗿𝘆
• The Indian market closed in the green for the second day in a row, with the S&P BSE Sensex rallying over 700 points and the Nifty50 closing above the 20,000 mark.
• Sectors in focus included banks, auto, IT, oil & gas, and capital goods, while selling wa......read more

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UltraTech Cement acquires cement grinding assets of Burnpur Cement for Rs 169.79 cr
UltraTech Cement acquires cement grinding assets of Burnpur Cement for Rs 169.79 cr
UltraTech Cement has acquired the cement grinding assets of Burnpur Cement in Jharkhand for Rs 169.79 crore. The acquisition involves 0.54 million metric tonnes per annum (mtpa) of cement grinding assets located at Patratu in Jharkhand. The deal was executed at a consideration of Rs 169.79 crore.
The Economic Times

𝗡𝗲𝘄𝘀 𝗦𝘂𝗺𝗺𝗮𝗿𝘆
• UltraTech Cement has acquired the cement grinding assets of Burnpur Cement in Jharkhand for Rs 169.79 crore.
• The acquisition involves 0.54 million metric tonnes per annum (mtpa) of cement grinding assets located at Patratu in Jharkhand.
• This marks Ul......read more

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Govt invites fresh bids from asset valuers of IDBI Bank
Govt invites fresh bids from asset valuers of IDBI Bank
The central government has issued a fresh Request for Proposal (RFP) for the appointment of an asset valuer for the strategic sale of IDBI Bank. The last date for submitting bids is January 5, following the cancellation of the previous bid process due to low bidder interest.
The Economic Times

𝗡𝗲𝘄𝘀 𝗦𝘂𝗺𝗺𝗮𝗿𝘆
• The central government has issued a fresh Request for Proposal for the appointment of an asset valuer for the strategic sale of IDBI Bank.
• The last date for submitting bids is January 5, following the cancellation of the previous bid process due to low......read more

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Report on Sony merger risks collapse incorrect, clarifies Zee Entertainment
Report on Sony merger risks collapse incorrect, clarifies Zee Entertainment
Zee Entertainment on Wednesday called the news item captioned “Sony-Zee Merger Risks Collapse Over Eleventh-Hour CEO Drama: Report” "factually incorrect."
The Economic Times

𝗡𝗲𝘄𝘀 𝗦𝘂𝗺𝗺𝗮𝗿𝘆
• Zee Entertainment has denied reports of the Sony-Zee merger being at risk due to CEO drama, calling the news item factually incorrect.
• The company stated that it is still working towards a successful closure of the proposed merger as per the approved C......read more

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Reputation: 180,974  •  Just now
Hold Greaves Cotton; target of Rs 136 Sharekhan
Hold Greaves Cotton; target of Rs 136 Sharekhan
Sharekhan recommended Hold rating on Greaves Cotton with a target price of Rs 136 in its research report dated November 28, 2023.
Moneycontrol

𝗡𝗲𝘄𝘀 𝗦𝘂𝗺𝗺𝗮𝗿𝘆
• Sharekhan has recommended a Hold rating on Greaves Cotton with a target price of Rs 136.
• The company's acquisition of Excel's business has boosted the growth potential of its engineering segment.
• Despite a dip in net worth, Greaves Cotton is looking ......read more

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ICICI Bank gets 'no objection' from exchanges for delisting ICICI Securities
ICICI Bank gets 'no objection' from exchanges for delisting ICICI Securities
ICICI Securities is a subsidiary of ICICI Bank, wherein the latter holds around 75% stake in the former.
The Economic Times

𝗡𝗲𝘄𝘀 𝗦𝘂𝗺𝗺𝗮𝗿𝘆
• ICICI Bank has received 'no objection' letters from the BSE and NSE for delisting shares of its subsidiary, ICICI Securities.
• ICICI Bank holds around 75% stake in ICICI Securities.
• The move is expected to simplify the corporate structure and potentia......read more

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India scrambles to add coal-fired power capacity, avoid outages: sources
India scrambles to add coal-fired power capacity, avoid outages: sources
The expansion drive comes ahead of this week's U.N. climate summit COP28, where France and the United States are expected to clamp down on financing for coal plants, a move that India, dependent on coal for 73% of power generation, plans to oppose.
The Economic Times

𝗡𝗲𝘄𝘀 𝗦𝘂𝗺𝗺𝗮𝗿𝘆
• India plans to add 17 gigawatts of coal-based power generation capacity in the next 16 months, its fastest pace in recent years, to meet rising power demand.
• The government is also reviewing 38 stalled coal projects to ensure their completion, and has ......read more

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Sunil Mittal's Bharti Telecom plans its biggest-ever rupee bond issuance with Rs 8,000-crore plan
Sunil Mittal's Bharti Telecom plans its biggest-ever rupee bond issuance with Rs 8,000-crore plan
The company is expected to seek bids this week for notes due in two-, three- and five years, the people said, who asked not to be identified as the details are private
The Economic Times

𝗡𝗲𝘄𝘀 𝗦𝘂𝗺𝗺𝗮𝗿𝘆
• Bharti Telecom Ltd., owned by Sunil Bharti Mittal, is planning to raise up to Rs 80 billion in the local-currency bond market.
• The company is expected to seek bids this week for notes due in two-, three- and five years.
• If the deal goes through, it w......read more

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Nifty should now attempt to get past 20,222; the next objective should be 20,700: Rohit Srivastava
Nifty should now attempt to get past 20,222; the next objective should be 20,700: Rohit Srivastava
Bank Nifty has been the laggard, but I think it should slowly start catching up. 61% retracement of its entire fall would come in at around 44,740, that is going to be the initial hurdle. We will wait to see that being surpassed and then we can probably look at it also testing the highs if it gets past that level.
The Economic Times

𝗡𝗲𝘄𝘀 𝗦𝘂𝗺𝗺𝗮𝗿𝘆
• The Nifty is expected to attempt to surpass 20,222 and reach 20,700, while the Bank Nifty may play catch up.
• Private banks may see more participation, with HDFC Bank and Kotak Bank reaching significant support levels.
• Bandhan Bank and RBL Bank have i......read more

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Nifty Bank back above 44K, reclaims 50-DMA. Here’s how to trade on Thursday
Nifty Bank back above 44K, reclaims 50-DMA. Here’s how to trade on Thursday
The momentum also helped the stock to reclaim 50-DMA on the daily charts in seven trading sessions. The index broke down from the short-term moving average on November 16
The Economic Times

𝗡𝗲𝘄𝘀 𝗦𝘂𝗺𝗺𝗮𝗿𝘆
• The Nifty Bank made a strong green candle on the daily charts on Wednesday and reclaimed the 50-DMA supported by gains in top index heavyweights.
• The index is now trading above multiple short-term moving averages and has strong support at 44,300-44,200......read more

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Tata Technologies listing: What does GMP signal ahead of debut on Thursday?
Tata Technologies listing: What does GMP signal ahead of debut on Thursday?
Tata Tech IPO: Based on the current GMP trends and the likely demand for the shares even post-listing, it won't be a surprise if the Tata Tech stock doubles over the IPO price on the first day itself
The Economic Times

𝗡𝗲𝘄𝘀 𝗦𝘂𝗺𝗺𝗮𝗿𝘆
• Tata Technologies is set to debut on the stock exchanges on Thursday with a premium of 82% over its IPO price.
• Analysts are bullish on the company's long-term prospects, citing its global presence, diverse customer portfolio, and emphasis on innovation......read more

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Blockbuster listing | IREDA locked in upper circuit at Rs 60 on robust demand
Blockbuster listing | IREDA locked in upper circuit at Rs 60 on robust demand
The blockbuster debut saw the government-owned firm’s market capital nearly double to Rs 16,124 crore
Moneycontrol

𝗡𝗲𝘄𝘀 𝗦𝘂𝗺𝗺𝗮𝗿𝘆
• IREDA surged 87% on its market debut, with its market capital nearly doubling to Rs 16,124 crore.
• The renewable energy sector is poised for significant growth, making IREDA an attractive investment.
• The company raised Rs 2,150 crore through its IPO, ......read more

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How cybercriminals extorted Rs 3.7 crore from Infosys employee in elaborate scam
How cybercriminals extorted Rs 3.7 crore from Infosys employee in elaborate scam
Cybercriminals impersonating TRAI, CBI, and Mumbai police deceived an Infosys executive, coercing him to transfer Rs 3.7 crore. The elaborate scam involved false allegations, threats of arrest, and a staged video call, prompting a police investigation into the incident.
The Economic Times

𝗡𝗲𝘄𝘀 𝗦𝘂𝗺𝗺𝗮𝗿𝘆
• An Infosys executive was coerced into transferring Rs 3.7 crore to cybercriminals impersonating TRAI, CBI, and Mumbai police.
• The criminals made false allegations, threatened arrest, and staged a video call to deceive the victim.
• Authorities have war......read more

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Reputation: 180,974  •  Just now

𝗡𝗲𝘄𝘀 𝗦𝘂𝗺𝗺𝗮𝗿𝘆
• York Exports reported a decrease in net sales, net profit, EBITDA, and EPS in the September 2023 quarter compared to the same period in 2022.
• The company's shares have also seen a decrease in value over the last 6 and 12 months.
• York Exports closed a......read more

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Reputation: 180,974  •  Just now

𝗡𝗲𝘄𝘀 𝗦𝘂𝗺𝗺𝗮𝗿𝘆
• Siemens reported a 24.71% increase in net sales in September 2023 compared to the same period in 2022.
• However, quarterly net profit decreased by 12.42% and EPS also decreased from Rs. 18.32 to Rs. 16.05.
• Siemens shares have given a 3.81% return over......read more

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𝗡𝗲𝘄𝘀 𝗦𝘂𝗺𝗺𝗮𝗿𝘆
• Unistar Multime has shown significant growth in net sales, net profit, EBITDA, and EPS in the September 2023 quarter compared to the same period in 2022.
• The company's shares have seen a decline of -41.33% in the last 6 months and -67.79% in the last 1......read more

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