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The Union Cabinet’s approval of the ₹1.86 lakh crore PM Developing Harmony and Accelerating Renewable Energy Access (DHARA) scheme is expected to create a multi-year growth opportunity for transmission equipment manufacturers, cable makers and related companies, according to Harshit Kapadia, Railway Analyst at Elara Securities. Kapadia said the scheme, aimed at evacuating 135 GW of…
As the street gears up to face yet another earnings season, the spotlight will yet again be on the IT companies, who will kickstart the results for the quarter. TCS will be leading the pack as always, reporting their results for the second quarter next Thursday, October 8. Here’s a look at when the other…
Shares of Mahanagar Telephone Nigam Ltd (MTNL) surged over 17% on Thursday, Octoer 1, after the company said its board has cleared the sale of its property in Powai, Mumbai to the Income Tax Department for ₹891.5 crore. MTNL, in an exchange filing, said its board of directors approved the proposal for the sale and…
Shares of Havells India Ltd. gained as much as 2% on Thursday, October 1 after brokerage firm Citi reiterated its positive stance on the stock, and also opened a 30-day positive catalyst watch on the wires and cables manufacturer. Citi maintained its “buy” rating on Havells India with a price target of ₹1,525 per share,…
Aurobindo Pharma shares traded higher on Thursday, October 1, after the company launched Adquey, its first novel drug in the US market. Adquey, originally discovered by Otsuka Pharmaceutical and licensed to Aurobindo’s arm Acrotech for US commercialisation, is a non-steroidal topical phosphodiesterase-4 (PDE4) inhibitor used to treat mild-to-moderate atopic dermatitis in adults and children aged…
India’s manufacturing sector expanded sharply in September, ending a three-month slowdown as robust demand drove the fastest growth in factory activity in seven months, revived hiring and lifted business confidence, a private survey showed on Thursday. The HSBC India Manufacturing Purchasing Managers’ Index (PMI), compiled by S&P Global, jumped to 55.1 in September from a…
Auto stocks that came out with their September sales figures on Thursday, October 1, are all trading with losses of up to 7.5%. Bajaj Auto is leading the losses, followed by declines seen in shares of Mahindra & Mahindra, Escorts Kubota, and SML Mahindra. Why Bajaj Auto Shares Fell 6% on Thursday? Shares of Bajaj…
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