The bottomline was impacted by higher input cost, power and fuel expenses and an exceptional loss

Reliance Industries's arm Reliance Retail on announced the launch of its consumer packaged goods brand 'Independence' in Gujarat, with plans for national rollout as part of its ambition in the FMCG segment.

According to the sources close to the development, the promoters may infuse around Rs 100 crore capital in tranches.

Kaarya Facilities and Services board will meet for consideration of bonus share allotment

Shares of Nuvoco Vistas surged 11% to Rs 446.3, while Chennai-based India Cements gained 9% to Rs 289.9. Kesoram Industries, Mangalam Cement, Sanghi Industries, and Gujarat Sidhee Cement jumped over 5% each. Ambuja Cement shares also gained 9.3% to Rs 564.9.

Jindal Steel & Power, LTTS, Oberoi Realty, Federal Bank, Just Dial, Den Networks, Kesoram Industries and Aditya Birla Money are among the company that will announce their quarterly earning for the quarter ended June 2022.

After the sale of shares, the bank's holding now stands at 1,06,91,192 equivalent to nearly 7.50 per cent stake in Birla Tyres, as per data provided by the bank, PTI reported.

The amount involved in the resolution process of personal guarantors to corporate debtors is substantial. As of March 2022, 926 applications have been filed in National Company Law Tribunal (NCLT) and DRT with a personal guarantee amount of INR 73,488 crore.

TCS, Delta Corp, Birla Tyres, Kesoram Industries, Lasa Supergenerics, Elnet Technologies, Hathway Bhawani Cabletel and MPL Plastics are among the companies that will announce their March quarter results today.

Adani Ports, Tech Mahindra, Chola Finance, P&G, Jindal Steel, Sona BLW, Kansai Nerolac, Indian Hotels and TTK Prestige are among the companies that will announce their December quarter results today.

Yash Gupta, Equity Research Analyst, Angel One said, "We have seen a good selloff in the market this week on the back of global market clues and some profit booking before the budget. We expect the market to continue its volatility till the budget and suggest investors be cautious."

Medplus Health Services will make its debut on the bourses today as it raised Rs 1,398.30 crore via its IPO between December 13-15 and sold its shares in the range of Rs 780-796.

Kesoram Industries board on Saturday approved to raise fund up to Rs. 2,500 crore to lower the cost of borrowing to replace high-cost NCDs and OCDs. The company said that it can raise the fresh funds by way of equity, bond, foreign currency floats, or other instruments.

"The company board will meet shortly to enable workout for further fund raising plan after the rights issue of Rs 400 crore. There are options for ECBs and Rupee loans from banking channels to reduce the cost of debt. Fully, hedged ECBs will cost around 11 per cent far less than existing rates. However, it may be in combination of Rupee and foreign currency loan," sources aware of the development told PTI.

The companys consolidated revenue from operations was at Rs 842.6 crore, up 30% year-on-year. The companys cement business yielded a revenue of Rs 834.20 crore, up 42% year-on-year and its Rayon and chemical business yielded revenue of 8.4 crores.

Ami Organics and Vijaya Diagnostics will make their Dalal Street debut today. Both issues were open for subscription during September 1-3.

“The undervalued segments still have good potential to grow in the upward direction. The coming days will be good for the defensive side of the market.”

The company has now decided to drop the preferential issue to promoters and instead go for Rs 400 crore rights offer in a single shot in the overall Rs 500-600 crore raising plan to make Rs 1,900 crore debt from PE funds serviceable.

HUL, Ultratech, Bajaj Auto, Hindustan Zinc, ICICI Lombard GIC, Biocon, Mphasis, Bajaj Holdings, Persistent Systems and IndiaMART will announce quarterly earnings today.

B K Birla group company Kesoram Industries Ltd has put its rayon factory under suspension of work in West Bengal's Hooghly district. The company management blamed the slump in demand due to COVID-19 led disruptions for the suspension of work till further notice.

The board of directors of the company also approved a fundraising plan up to Rs 600 crore, including a rights issue of Rs 200 crore, to reduce its Rs 1,900 crore high-cost debt.

The owner of the Birla Cement brand had taken the high-cost debt, via Non-convertible debentures and Optionally convertible debentures at an interest cost of 19.5 per cent from a clutch of private investors, to settle bank debts.

Vedanta Resources Plc raised the open offer price for buying shares in its flagship Indian firm to Rs 235 per share.

The company informed bourses that it has also raised Rs 1,603 crore via NCDs with maturity in February 2026, and optionally convertible debentures amounting to Rs 459 crore.